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Amin, Q.A. 
ORCID: 0000-0002-7446-249X and Farquhar, S.S.,
2021.
The relationship between corporate governance and firm financial performance: an empirical investigation of an emerging market.
International Journal of Business Governance and Ethics, 15 (2), pp. 215-232.
ISSN 1477-9048
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Abstract
We investigate whether the distinct nature of multinational firms (MNC) differently influence the governance-performance relationship compared to the local firms in Pakistan. We used a dynamic system GMM estimator that produces consistent and efficient estimation after controlling for dynamic endogeneity and simultaneity. Our results demonstrate that corporate governance (CG) has a significant positive impact on firm financial performance whilst CG practice of MNC firms is more effective than local firms in Pakistan. We observed two distinct financing behaviours, i.e., 'pro-active investment behaviour' of MNC firms and 'conservative investment behaviour' of local firms. We conclude that a well-established corporate culture, significant financial worth and firms' higher growth rate are key determinants of better CG practice.
| Item Type: | Journal article | ||||||
|---|---|---|---|---|---|---|---|
| Publication Title: | International Journal of Business Governance and Ethics | ||||||
| Creators: | Amin, Q.A. and Farquhar, S.S. | ||||||
| Publisher: | Inderscience | ||||||
| Date: | 2021 | ||||||
| Volume: | 15 | ||||||
| Number: | 2 | ||||||
| ISSN: | 1477-9048 | ||||||
| Identifiers: |
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| Divisions: | Schools > Nottingham Business School | ||||||
| Record created by: | Laura Ward | ||||||
| Date Added: | 27 Oct 2023 08:00 | ||||||
| Last Modified: | 27 Oct 2023 08:00 | ||||||
| URI: | https://irep.ntu.ac.uk/id/eprint/50127 |
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