Can proactive environmental strategy improve Multilatinas' level of internationalization? The moderating role of board independence

2019 ◽  
Vol 29 (1) ◽  
pp. 291-305
Author(s):  
Eduardo Duque‐Grisales ◽  
Javier Aguilera‐Caracuel ◽  
Jaime Guerrero‐Villegas ◽  
Encarnación García‐Sánchez
Keyword(s):  
Board Independence ◽  
Environmental Strategy ◽  
Proactive Environmental Strategy ◽  
Moderating Role

scholarly journals Debt financing and firm performance: The moderating role of board independence

2020 ◽  
Vol 45 (3) ◽  
pp. 141-151
Author(s):  
Hanh Song Thi Pham ◽  
Duy Thanh Nguyen
Keyword(s):  
Emerging Market ◽  
Debt Financing ◽  
Board Independence ◽  
Data Set ◽  
Listed Firms ◽  
Negative Effect ◽  
And Performance ◽  
The Relationship ◽  
Moderating Role

This article investigates the moderating role of board independence in the relationship between debt financing and performance of emerging market firms. We have used an empirical model in which the firm’s accounting profitability is a dependent variable and the independent variables are debt financing, board independence, the interaction variable made of debt financing and board independence as well as various control variables. Our analysis is based on a panel data set of 300 listed firms in Vietnam between 2013 and 2017. Our study finds that debt financing has a significantly negative effect and that board independence reduces the adverse impact of debt financing on accounting profitability. Our results are consistent across different estimation models and methods.

The Contextual Role of Regulatory Stakeholder Pressure in Proactive Environmental Strategies: An Empirical Test of Competing Theoretical Perspectives

2017 ◽  
Vol 32 (3) ◽  
pp. 281-308 ◽  
Author(s):  
Eva Alexandra Schmitz ◽  
Matthias Baum ◽  
Pascal Huett ◽  
Ruediger Kabst
Keyword(s):  
Empirical Test ◽  
Explanatory Power ◽  
Strategic Orientation ◽  
Environmental Strategy ◽  
Theoretical Perspectives ◽  
Stakeholder Pressure ◽  
Proactive Environmental Strategy ◽  
The Relationship ◽  
Made In

Guided by two competing theoretical perspectives, we investigate the contextual role of perceived regulatory stakeholder pressure in the relationship between firms’ strategic orientation and their pursuit of a proactive environmental strategy (PES). While the enhancing perspective suggests that perceived regulatory stakeholder pressure strengthens the association between strategic orientation and PES, the buffering perspective argues that greater regulatory stakeholder pressure mitigates this relationship. Our study looks at a sample of 349 German energy sector firms to identify which perspective holds greater explanatory power. Surprisingly, the empirical findings go beyond the arguments made in the buffering perspective: high perceived regulatory stakeholder pressure not only weakens but also eradicates the relationship between strategic orientation and the pursuit of a PES. Our results indicate that in the case of high perceived regulatory stakeholder pressure, market-oriented considerations are eclipsed by the need to gain legitimacy within the regulatory stakeholder context.

scholarly journals Does the presence of independent directors reduce the practices of earnings management? The moderating role of family ownership concentration

2019 ◽  
Vol 69 (6) ◽  
pp. 638-654
Author(s):  
Deaa Al-Deen Al-Sraheen ◽  
Khaldoon Ahmad Al Daoud
Keyword(s):  
Earnings Management ◽  
Stock Exchange ◽  
Ownership Concentration ◽  
Future Research ◽  
Family Ownership ◽  
Board Independence ◽  
New Ideas ◽  
The Relationship ◽  
Moderating Role

While often criticized, the independence of directors remains a crucial criterion for evaluating the effectiveness of the monitoring role of boards. This study examines the relationship between board independence and earnings management, paying attention to moderation role of family ownership concentration on this relationship using a sample of services companies listed on Amman Stock Exchange ASE. This study documented a significant and negative association between board independence and earnings management. In addition, the moderating role of family ownership concentration on this relationship was also negative. Thus, the board’s monitoring function was inefficient due to the concentration of ownership. These results were obtained through using multiple and sequential regression analysis for the research data from 2013 to 2016. This study provides new ideas for future research such as examining the impacts of the migration of capitals and investors from neighbouring countries such as Syria and Iraq.

scholarly journals Proactive environmental strategy and firm performance: The moderating role of corporate venturing

2020 ◽  
Vol 38 (7) ◽  
pp. 654-676
Author(s):  
Chengli Shu ◽  
Jinxin Liu ◽  
Mengli Zhao ◽  
Per Davidsson
Keyword(s):  
Firm Performance ◽  
Positive Impact ◽  
Political Influence ◽  
Moderating Effect ◽  
Environmental Strategy ◽  
Green Management ◽  
Corporate Venturing ◽  
Proactive Environmental Strategy ◽  
The Relationship

This article investigates how two types of proactive environmental strategies (PESs) – proactive green management and green political influence – affect firm performance directly and under varying conditions characterising corporate venturing activities (domestic versus international). The results obtained by analysing a multi-informant dataset reveal that proactive green management has a stronger positive impact on firm performance than green political influence does. Moreover, international venturing has a greater positive moderating effect than domestic venturing on the link between proactive green management and firm performance, whereas, domestic venturing has a stronger positive moderating effect than international venturing on the relationship between green political influence and firm performance. This article contributes by differentiating between two important forms of corporate venturing, by distinguishing two important types of PESs and by offering a more granular framework for aligning corporate venturing activities with PESs.

scholarly journals Impact of Board Structure on Insolvency and Credit Risk: Moderating role of Domestic and Transnational Financial Liberalization in Asian Banking Sector

2019 ◽  
pp. 99-116
Author(s):  
Rashida Bibi ◽  
Zaheer Abbas ◽  
Waqas Ahmad ◽  
Tahira Awan
Keyword(s):  
Risk Taking ◽  
Banking Sector ◽  
Financial Liberalization ◽  
Annual Reports ◽  
Board Independence ◽  
Board Structure ◽  
Board Size ◽  
The Relationship ◽  
Moderating Role

Purpose-The aim of this study is to analyze the effect of board structure on risk-taking. It also takes financial liberalization as a moderator between board structure and risk-taking. Design/methodology/approach- Data of variables of interest has been obtained from the annual reports of banks and statistical reports published by Central Bank of concerned countries. Ten banks have been selected from every ten Asian countries during the period 2005 to 2015. GMM estimator is used for data analysis. Findings- Findings of the study reveal that both board size and board independence decrease risk-taking practices in sample economies. Further, the presence of powerful CEOs on board structure increases risk-taking. The most robust result has been proved for board independence as compared with board size and CEO/chairman duality. Financial liberalization moderates the relationship between board structure and risk-taking. Originality/value- Most of the previously published studies in this area use only one type of financial liberalization at one time. This study includes both types of financial liberalization: domestic financial liberalization and transnational financial liberalization, at one time. Laeven financial liberalization index has been created for concerned economies.

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