jrge
Abstract - Corporate Board Attributes and Dividend Payout Likelihood
|
|
Abstract: Extant literature has shown that corporate governance influences dividends policy. However, the effect of diversity on the likelihood to distribute cash dividends is scarce in the literature. Therefore, this study is aimed at exploring the influence of gender diversity and financial expertise on the likelihood of dividends payout. Pooled logistic regression was used on a sample of data from non-financial listed firms in Nigeria spanning from 2009 to 2015. The study documents gender diversity and financial experts have significant effect on a firm’s likelihood to distribute cash dividends. The results remain unchanged after adjusting the standard errors for clustering at a firm. The overall finding suggests that diversity in terms of gender and expertise play a critical role all things being equal in determining the decision to pay cash dividends shareholders of listed firms in Nigeria. Keywords: Likely to pay dividends, gender diversity, financial expertise, corporate attributes. |
Abstract - The Short and Long-Run Performance of Sharia-Compliant Initial Public Offerings (IPOs) in the Emerging Market: Evidence from the Saudi Arabia Share Market
|
|
Abstract: This study examines the short- and long-run share performance of 40 Sharia-compliant IPO companies listed on the Saudi Arabia Stock Exchange (Tadawul) from 1st January 2000 to 31st August 2017. This study employs both market-adjusted initial returns and buy-and-hold abnormal return to measure the share performance of IPOs. First, the analysis shows that Sharia-compliant IPOs are underpricing with abnormal initial returns of 79.23%. Second, the results suggest that investors could earn positive and significant market-adjusted BHAR of 14.67% if they held IPO shares over the eighteen-month period following the listing date when EWI is used as a market benchmark. This study also finds that IPO companies outperformed the VWI although the results are insignificant. The findings on the long-run overperformance contribute to the IPO literature on long-run performance of Sharia-compliant IPOs. The present study would benefit foreign investors and market regulators who are trying to understand the market behaviour in an emerging market. Keywords: Initial public offerings (IPOs), short- and long-run performance, Sharia-compliant investments, Kingdom of Saudi Arabia, buy-and-hold abnormal return (BHAR). |
Abstract - Total Quality Management System in an Education Environment: The Case of a Private University in Bahrain
|
|
Abstract: The study aims to analyze and explain the effectiveness and efficiency of implementing total quality management principles in private educational institutions. The context of the study narrowed down the areas of comparisons to tutorial conducts, student affairs and infrastructure. A detailed analysis of the existing total quality management currently in place at the selected university was duly comprehended. This resulted in finding the flaws/weaknesses in the system of universities in the kingdom of Bahrain generally. Findings through a survey and interview sessions indicated that teachers were not consulted for any changes in curriculum which leads to a lack of co-operation between management and teachers. Another problem in regards to the total quality management implementation was that students perceived the university as not being concerned with maintenance of the premises. Moreover, student affairs/services section was seriously lacking sport facilities, limited training sessions, poor equipment maintenance. Keywords: Total Quality Management, Educational, Bahrain, Quality Management System. |
Abstract - Supervisory Board and Company Borrowing: The Case of Developing Economics
|
|
Abstract: The objective of this paper is to find out the effects of the independence and size of the supervisory board on company borrowing in a two-tier board system. Unlike prior studies, such as in the United States, the current study is conducted in a developing country that has adapted a Continental European System. This study uses panel data analysis for 1,981 observations of 283 Indonesian listed companies in the 2004-2010 period. The control variables are Return on Assets (ROA), quality of audit, age, size and firm growth. Before panel data analysis is run, the outlier and normality tests are used. In addition, test of random-effect or fixed-effect model is conducted. This work finds that supervisory board independence has a negative effect on company borrowing. Further, firm profitability has a consistent effect on company borrowing. Keywords: Supervisory Board Independence, Supervisory Board Size, and Company Borrowing. |
