Corporate capital structure decisions are key determinants of firm performance. The agency theory suggests that debt financing is one of the mechanisms to mitigate agency problems and thus to improve firm performance. This paper provides important evidence on the performance effects of capital...

Market imperfections such as taxes, asymmetric information and agency problems make capital structure decisions relevant to the value of the firm. More specially, the agency theory suggests that debt financing is one of the governance mechanisms to mitigate agency costs of equity capital and...

The current paper analyzes the impacts of privatization of Sudan air carrier, Sudan Airways. The hypothetical framework in this study is that alternative policies other than privatization are feasible. Sudan airways represents the sovereignty of the country carrying its flag, its objectives is...

Objective - The purpose of this study is to analyze profit persistence and the factors that influence it using secondary data from 39 banks listed on the Indonesian Stock Exchange in the form of pooled data, from 2008 to 2014.Methodology/Technique - This study uses a purposive sampling...

The research examines the effect of Chinese Astrology (shio) and managerial ownership on firm's performance. The research also examines other issue of agency problem which is called managerial ownership. The separation between the principal with ownership function and agent with control function...

In recent years, there has been an increasing interest in assessing the effectiveness of corporate governance in China. This paper examines the impact of internal governance mechanisms such as ownership structure and board characteristics and debt financing on agency costs making use of a large...

We demonstrate analytically and illustrate with examples that the conventional measures of the residual operating income such as the Economic Value Added (EVA) are biased by design and so may yield a misleading assessment of financial performance. Fundamentally, the magnitude of the measurement...

In this study, we investigated the relationships between board structure and financial performance, limited to nonfinancial firms listed on the Vietnam Stock Exchange. First, we found that a dual leadership structure, where the CEO and Chairman positions are held by the same person, was...

We hypothesize that CSR serves as a control mechanism to reduce deviations from optimal risk taking, and therefore, CSR curbs excessive risk taking and reduces excessive risk avoidance. Based on the stakeholder theory, firms with CSR focus must balance the interests of multiple stakeholders, and...

We hypothesize that CSR serves as a control mechanism to curb excessive risk taking and to reduce excessive risk avoidance. Firms with CSR focus must balance the interests of multiple stakeholders, and therefore, must allocate resources to satisfy both investing and noninvesting stakeholders'...