Manel Hessayri, Malek Saihi

95127

What Would Influence Firm Valuation? Financial Reporting and Shareholder Governance

What Would Influence Firm Valuation? Financial Reporting and Shareholder Governance

Our study aims at providing new insight on firm value effects stressing on ownership structure monitoring role, in addition to the disciplinary role of IFRS reporting to provide high-quality information thereby enhancing equity value. We rely on a sample of financial listed firms in three emerging markets, namely, Morocco, South Africa and Turkey. A panel regression for random effects specification is used to control for IFRS effect and non-monotonic effects of ownership structure on firm value. Our findings support the forcefulness of IFRS standards in reducing information asymmetries between “more” informed and “less” informed investors. In addition, unlike institutions and blockholders, institutional blockholders exhibit a non-monotonic influence on firm value. This finding is consistent with the claim that corporate shareholders’ identities and ownership sizes are likely to differentially influence firm valuation.

Keywords:

Firm Value International Financial Reporting Standards Reporting, Ownership Structure,

International Journal of Economics and Financial Issues-Cover

Başlangıç: 2011
Yayıncı: İlhan ÖZTÜRK

Arşiv

Sayıdaki Diğer Makaleler

The Corporate Social Responsibility and Firms’ Financial Performance: Evidence from Financial Sector of Pakistan

Tanveer Bagh, Muhammad Asif Khan, Tahir Azad, Shamila Saddique, Muhammad Atif Khan

The Development of Productive Economy Cluster through Siparti 3-S and Triple Helix in Kabupaten Lumajang, Indonesia

Dwi Wulandari, Mit Witjaksono, Thomas Soseco, Bagus Shandy Narmaditya

Estimation of Volatility and Correlation with Multivariate Generalized Autoregressive Conditional Heteroskedasticity Models: An Application to Moroccan Stock Markets

Yassine Belasri, Rachid Ellaia

Water Gain: As a Common Good Becomes a Financial Opportunity

Cristiana FİORELLİ, Marco MELE

The Effects of Clients’ Characteristics on Auditor Independence: A Perceptual Study

Are Amman Stock Exchange Investors Overconfident?

Bashar Khaled Abu Khalaf, Firas Y. Hammash

The Effect of Liberalization on Export-Import in Indonesia

Muhammad SOFJAN

Examınation of the Dynamic Relationship Between Poverty and Inequality: Evidence from Nigeria Micro Data

Richardson Kojo EDEME, Evelyn Osaretin OGBEİDE, A. İfelunini INNOCENT, Sam UGWU

Study of Commitment Items Quality Members Effect on Price Synchronism in Tehran Stock Exchange

Morteza Doosti Seyyed SHEKARİ, Babak JAMSHİDİNAVİD

How Does Monetary Policy Affect Economic Vulnerability to Oil Price Shock as against US Economy Shock?

Fatemeh RAZMİ, Azali MOHAMED, Lee CHİN, Muzafar Shah HABİBULLAH