Ownership Concentration, Insider Shareholding and Firm Performance in Chinese Privately-run Enterprises

A typical privately-run enterprise has a mixed ownership structure with. four predominant groups of shareholders the state, legal persons, domestic individuals, and foreign investors. This paper gives an empirical analysis on the relationship among ownership concentration, insider shareholding and firm performance in nearly one thousand Chinese privately-run enterprises. The results show： the ownership concentration ratio and the percentage of insider shareholding are ＇inverse U--shaped＇ related to finn performance, respectively, the debt-to-asset ratio is negative related to finn performance, the firm size is positive related to firm performance.

An Empirical Test of Relation Between Executive Stock Options and Firm Performance

Numerous firms adopted executive stock options plan for their executives. This study examines empirically the hypothesis that stock options help to improve the firml＇s operating performance. The empirical tests reveal a positive relation between the stock options and performance; also indicate that there is a positive relation between quantity of manager＇s stock options and firm＇s size.

Leveraging core capabilities and environmental dynamism for food traceability and firm performance in a food supply chain: A moderated mediation model

This paper develops a moderated mediation model in which the interactive effects of food traceability and environmental dynamism on firm performance are mediated by the core capabilities(operating capabilities and marketing capabilities)in food supply chain context, by invoking the indirect view of organizational learning theory. Our hypotheses were tested using hierarchical regression and bootstrapping methods with a sample of 216 food manufacturing firms in China, and a survey-based, two-informant design was used to collect data. The results revealed that operating and marketing capabilities fully mediate the food traceability-performance link. In addition, environmental dynamism positively moderates the food traceability-core capabilities link. Moreover, it is found that operating and marketing capabilities transform the interactive impacts of environmental dynamism and food traceability into firm performance. Our study offers a fine-grained picture of the essential food traceability-performance link by revealing for the first time that there is an interactive impacts of food traceability and environmental dynamism on firm performance via core capabilities.

Does board gender diversity affect firm performance?Empirical evidence from Standard & Poor’s 500 Information Technology Sector

The essence of this study is to investigate the influence of the board gender diversity on firms’accounting and market-based performance using a sample of Standard&Poor’s 500 companies belonging to the information technology sector over 12 years.Using the pooled ordinary least squares(OLS)method,the outcomes provide evidence for a positive influence of women on corporate boards on both measures of company performance,except for the percentage of female executives in the case of return on assets(ROA).After estimating the fixed effects and random-effects through panel data,the econometric outcomes show no statistically significant association among board gender diversity and ROA but a positive influence of the number and percentage of women on board on price-to-earnings ratio.

The Moderating Effect of Team Orientation Over the Relationship Between TMT Strategic Decision Speed and Firm Performance

Due to the fast changing competitive environment faced by organizations, companies are forced to find ways to quickly adapt to technological innovations, changing demands of customers, and strategic actions taken by competitors. The purpose of the paper is to further the relationship between top management team （TMT） strategic decision speed and firm performance, considering the team processes when making strategic decisions in the face of complex environments. Measures of TMT strategic decision speed, firm performance, team orientation, and environmental complexity were collected from 29 top management teams of Mexican companies, which represented a total of 118 questionnaires. Pearson correlations among the variables and moderated regression analyses were performed, to test the hypotheses included in the study. Results show a positive relation between environmental complexity and TMT strategic decision speed and between team orientation and speed. Furthermore, results show that there is a positive relation between TMT strategic decision speed and firm performance in the presence of team orientation. In other words, team orientation moderates the relationship between TMT strategic speed and firm performance. Among the implications for managers is that they must ensure effective team processes （e.g., building consensus, active participation, and trust among team members） when making strategic decisions in order for the firm to perform better.

Entrepreneurial Leadership, Market Orientation, and Firm Performance

This paper explores entrepreneurial leadership, market orientation, and firm performance. It sorts to ascertain through the literature whether entrepreneurial leadership has an influence on market orientation decision and firm performance. The review points to the fact that entrepreneurial leadership creates visionary scenarios which they used to assemble and mobilize a “supporting cast” of participants who become committed to the vision and the discovery of strategic value creation by influencing market orientation decision and thus enhancing firm performance. The study thus developed a process model as a result of the literature reviewed. The study concludes that, entrepreneurial leadership influences the market orientation decision of a firm with the help of the “supporting cast” and this helps the firm to increase its performance.

Research on Firm Size, Firm Performance and Internal Auditing Modes——Based on Listed Manufacturing Companies of China

This paper is based on the samples of listed manufacturing companies of China, taking the financial performance as criterion, and then does research on the firm performance with different internal auditing modes, using Cross-sectional data to analyze the distribution of internal auditing modes and the characteristics of the firm performance. The conclusion is that setting up internal auditing is good for the development of companies, but the function of internal auditing has not been widelv fulfilled.

TMT Heterogeneity and Firm Performance: The Moderating Effect of Managerial Discretion

Now the top management team and managerial discretion play an important role in driving the firms’development.This paper built a theoretical model to explore the effect of top management team heterogeneity on firm performance,and analyze the moderating role of managerial discretion.Based on the data of 167 listed firms from Shanghai Stock Exchange in 2019,this paper constructs a multiple regression model and tested the hypothesis.The empirical results show that gender heterogeneity,tenure heterogeneity and education level heterogeneity have a negative effect on firms performance.At the same time managerial discretion can partially moderates the relationship between the heterogeneity of top management team and firm performance,in which capital intensity and the firm size play a negative moderating role,and duality play a positive moderating role.According to the research results,this paper also puts forward corresponding suggestions to improve the firm performance.

Co-alignment between Environment Risk,Capital Structure,Growth and High-tech Firm Performance

To examine whether there is a co-alignment relationship between environment risk, capital structure, growth and high-tech firm performance, the environment risk was measured from the viewpoint of environment change, the long-term debt ratio was adopted as the measure of the capital structure, and the total asset growth and sales growth were chosen to measure the growth of high-tech firms. Regression analysis shows that there is a significant relationship between environment risk, growth and performance of hightech firms measured by the return on equity and cash flow, respectively.

The effects of managerial ability on firm performance and the mediating role of capital structure:evidence from Taiwan

This study utilizes mediation analysis and bootstrapping to analyze the mediating effect of capital structure on the association between managerial ability and firm performance.The dataset consists of 6384 firm-year observations from the Taiwan Residents electronics industry during 2005–2018.Our results indicate that(1)low(high)levels of debt are likely observed in firms with CEOs with high(low)ability,(2)managerial ability positively affects firm performance,and(3)capital structure mediates the positive relationship between managerial ability and firm performance.Overall,the findings may have limited generalizability due to the specific sample characteristics and provide convincing support for the importance of capital structure as a mediator in the managerial ability-firm performance nexus.Specifically,this study highlights the need for examining the effect of managerial ability on firm performance through a mediator.

The Moderating Effects of Gender Diversity on Supply Chain Practice and Firm Performance

This research investivates the moderating effects of employees gender diversity and uncertainty on the relationship between supply chain practices and the performance of the firm which have a supply chain, Current supply chain management has become a possibly valuable way of improving firm performance, Gender plays an important role in the performance of an organization, but it has not get emphasize in research so far, This study provides a conceptual justification for a proposed model that identifies the relationships between supply chain practices and firm performance and describes the moderating effect of gender diversity and uncertainty, The higher levels of supply chain practice can lead to enhance firm performance, Also, gender diversity and uncertainty has an interaction effect on this relationship.

Measuring the influences of supplier selection and supply chain tasks on firm performance among manufacturing firms in India

The primary objective of this research is to empirically probe the various aspects and variables that have been already addressed in the previous literature related to supplier selection criterion, supply effort management and firm performance. Further, this research aims to develop a measurement framework and pragmatically prove the framework through a measurement model. First, a factor structure for various constructs is made and the initial validity is determined from practicing managers and academicians. This research employs survey method and the data is collected from 358 supply chain professionals working in manufacturing firms in India. A measurement model is developed and proved with various tests of reliability and validity. Finally, three major latent constructs were formulated, namely, criterion of supplier selection, supply effort management and firm performance. The factor scores of these latent variables were used for further analysis. A six-stage approach was followed in the analysis of data. Firm performance was regressed against supplier selection criterion and supply effort management. The results indicate that the predictive variable has positive and significant effect on firm performance and they do not have any interaction and multicollinearity effects.

Model Analysis of the Relationship Between Strategic Organization Knowledge and the Use of Information Systems in Firm Performance in Brazil

Information Technology （IT） consolidates as an essential element to support the business strategies to survive and rapidly adapts to changes in the competitive environment. This paper examines the impact of the use of information systems （IS） and strategic organization knowledge （SOK） on firm performance in 150 Brazilian companies. The study uses partial least squares structural equation modeling （PLS-SEM） and establishes models to express the relationship among the constructs examined. The study identifies that the direct influence of 1S use on performance is moderately significant. However, when mediated by orientation strategy, the total effect of IS use on firm performance is demonstrated to be highly significant. The model explains 54% of the variability of firm performance and confirms IS use as a fundamental resource to support strategic business processes.

Supply Chain Management Practices, Competitive Advantages and Firm Performance： A Case of Small and Medium Enterprises （SMEs） in Vietnam

The perception of supply chain management （SCM） first appeared in 1982 and the very first papers on SCM were published in the mid 1980s （Houlihan, 1985）. However, this term is still fresh in Vietnam, especially the subject of SCM practices and their impacts on firm performance of small and medium enterprises （SMEs）. Therefore, the research was conducted to study the impact of supply chain management practices （SCMPs） on firm performance of SMEs through firm competitive advantages. Data were collected by surveying SMEs located in Ho Chi Minh City. The research findings showed that customer relationship （CR） and quality of information sharing （IQ） impact on firm performance at 0.01% significance level while the level of information sharing impacts on firm performance at 10% significance level, and strategic supplier partnership impacts on firm performance insignificantly. Moreover, we also found that customer relationship and quality of information sharing influence firm competitive advantage at 0.01% significance level, while strategic supplier partnership and the quality of information sharing impact on firm competitive advantage at 5% significance level. Competitive advantages impact significantly positively on firm performance at significance level of 0.001%. The findings imply that SMEs in Vietnam should manage customer relationship well and increase the level of information quality to improve competitive advantage in order to gain high performance.

Executive Compensation and Firm Performance in Japan： The Role of Keiretsu Memberships and Bank-Appointed Monitors＊

This paper examines the relations between the disciplinary role of Japanese relationship-oriented corporate governance mechanisms, such as keiretsu memberships and bank-appointed directors, and pay for performance sensitivity in Japan. Previous studies show that pay for performance sensitivity of Japanese executive compensation is positive and almost the same as in a market-oriented system like that of the United States of America （USA）. However, previous studies do not investigate how Japanese corporate governance mechanisms like financial keiretsu ties and bank-appointed directors affect pay for performance sensitivity. This paper finds that the disciplinary mechanism of keiretsu memberships and bank-appointed monitors did not function well in Japan in the 1990s.

Corporate Social Responsibility （CSR） and Firm Performance

The discourse of corporate social views of the role of the firm in a responsibility （CSR） has grown rapidly over the last decade. There are different society and disagreements as to whether wealth maximization should be the sole goal of a corporation. There is also a debate on whether CSR practices are beneficial for firms. Studies examining the performance of firms that have adopted a CSR policy within a range of sectors in various countries provide inconsistent results. Some studies show excess returns among companies adopting a CSR policy relative to the companies that do not adopt such a policy, while others do not find differences in returns. To further dispel the ambiguity on this issue, the authors explore the relationship between CSR adoption and financial performance of firms＇ shares in Israeli market, with a US market benchmark as a test of specificity. The findings reveal that no significant difference exists between the performance of firms adopting a CSR policy and firms that do not. Thus, the inclusion of investments in socially-responsible firms in an investor＇s portfolio does not appear to significantly impact the portfolio＇s performance. Managers and investors interested in investing in CSR may do so without any concern of the lower returns or performance. This study provides an additional support for the CSR School in that its findings indicate that, on the one hand, investments in firms that integrate social and environmental responsibility are just ＂as good as＂ investments in firms that do not. On the other hand, such investments can be seen as superior, since in addition to the financial returns, investors contribute to changing the face of the global environment and are creating a system for support and enforcement that ensures the existence of a better world for the children in the present and future.

HR and firm performance at companies in Turkey： Correlative analysis

Aim of this study is to discuss matters with HR and finn performance. Therefore, we used HR and firm performance questionnaire from Delaney and Huselid （1996）. HR variables include recruitment, training, compensation and promotion. Firm performance divided into organizational and market performance. Therefore, correlation analysis demonstrates that HR has positive and significant relationship with organizational performance, and HR has positive but weak relationship with market performance. Therefore, we can propose that HR is partly correlated with firm performance for those companies in sample. Therefore, since we didn＇t realize demography of companies in study, it is arguable, findings of this study can be generalized to other companies in Turkey.

The Effect of Political Influence and Corporate Transparency on Firm Performance： Empirical Evidence From Indonesian Listed Companies

The paper aims to examine the effect of political influence on corporate transparency, and performance of Indonesian listed companies, Seventy-three large public firms from hundred of the largest companies in Indonesia were selected as the sample. Data for corporate transparency are collected from annual reports for the years 2005-2007. Corporate transparency is indexed by the amount of information disclosed in company＇s annual report. The disclosure index reporting model developed in the current research is based on the Annual Report Award （ARA, an award given annually to Indonesian listed and non-listed companies）, and firm performance is measured using two indicators： ROA （return on assets） and Tobin-Q. The political influence variable is proxied by two indicators： government ownership and the existence of politicians in Board of Directors （BOD）. Results demonstrate that contrary to the hypothesis, government ownership （political influence） has positive relation to corporate transparency, as well as to ROA （firm performance）. Results also support the hypothesis that transparency act as a mediating variable for the relationship between political influence and firm performance. However, when political influence is pmxied by existence of politicians in BOD and fm＇n performance proxied by Tobin-Q, data seems to give support to the hypotheses proposed. The discussion and implications of the findings and suggestions for future research arc discussed.

The Role of Agility in the Effect of Trust in Supply Chain on Firm Performance

Emerging technologies and innovative developments cause the supply chain management to change dramatically. Therefore the subjects regarding trust have become important. Trust established in Supply Chain causes effective relationships among definitive numbers of suppliers in the long-run. The effect of trust in supply chain on firm performance and the contribution of agility to this relation have been supported in the literature. In this research, the role of agility in the effect of trust in supply chain on firm performance will be investigated. According to the results of hypotheses tests, there are positive and significant relations between supply management integration and trust in supply chain, between trust in supply chain and supply chain agility, and between supply chain agility and firm performance.

Board Characteristics and Firm Performance

Based on agency theory, the importance of corporate governance is to reduce agency conflicts between those who control and those who own the residual claims in a firm. In other words, corporate governance as a mechanism helps to align management＇s goals with those of the stakeholders that are to increase firm performance. Since, the value creation of corporate governance can be measured through the firm performance; the aim of this study is to answer this question： ＂is there any relationship between corporate governance and firm performance？＂ Therefore, the four board characteristics that are of interest in this study are board independency, CEO duality, ownership structure, and board size. Based on a randomly selected sample of companies listed on Bursa Malaysia and applying the linear multiple regression as the underlying statistical tests, it is found that CEO duality has a negative relationship with firm performance---Return on Equity （ROE） and Return on Asset （ROA）, but there is no significant relationship among board independency, board size, and ownership structure as independent variables and firm performance as dependent variable.