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The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE

This study evaluates corporate governance practices of listed firms in the UAE and examines the hypothesized influence of investment opportunities, leverage, foreign and institutional ownership on firm performance. Corporate governance strength is also investigated as a moderator between investmen...

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Main Author: Gamrh, Bakr Ali Ali Al
Format: Thesis
Language:English
English
Published: 2015
Subjects:
HG Finance
Online Access:http://etd.uum.edu.my/5413/
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spelling my.uum.etd.54132021-03-18T07:07:38Z http://etd.uum.edu.my/5413/ The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE Gamrh, Bakr Ali Ali Al HG Finance This study evaluates corporate governance practices of listed firms in the UAE and examines the hypothesized influence of investment opportunities, leverage, foreign and institutional ownership on firm performance. Corporate governance strength is also investigated as a moderator between investment opportunities, leverage, foreign, institutional ownership and firm performance. The moderating impact of corporate governance strength is also examined during the global financial crisis. After constructing an index to measure corporate governance strength, the fixed effects regression in panel data was used to analyze the data. The data included 101 firms with a total of 501 firm-year observations that spanned the period 2008 to 2012, of all the firms listed on the Abu Dhabi Stock Exchange and the Dubai Financial Market. The results show a significant influence of investment opportunities, leverage and institutional ownership on firm performance represented by Return on Assets (ROA) and Refined Economic Value Added (REVA). However, the results find no influence of foreign ownership on ROA, and a negative influence on REVA. The governance index shows a dramatic improvement in the corporate governance practices over time. In addition, corporate governance strength is found to significantly moderate the relationship between investment opportunities, leverage, foreign and institutional ownership with ROA, but only moderates the relationship between leverage and REVA. During the crisis, corporate governance strength appears to play a more efficient moderating role. The findings of this study provide some insights to the regulators and other related parties about the status of corporate governance practices in the UAE and show that good corporate governance is indirectly able to improve the performance of firms during different time periods. 2015 Thesis NonPeerReviewed text en /5413/1/s93130.pdf text en /5413/2/s93130_abstract.pdf Gamrh, Bakr Ali Ali Al (2015) The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE. PhD. thesis, Universiti Utara Malaysia.
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Electronic Theses
url_provider http://etd.uum.edu.my/
language English
English
topic HG Finance
spellingShingle HG Finance
Gamrh, Bakr Ali Ali Al
The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE
description This study evaluates corporate governance practices of listed firms in the UAE and examines the hypothesized influence of investment opportunities, leverage, foreign and institutional ownership on firm performance. Corporate governance strength is also investigated as a moderator between investment opportunities, leverage, foreign, institutional ownership and firm performance. The moderating impact of corporate governance strength is also examined during the global financial crisis. After constructing an index to measure corporate governance strength, the fixed effects regression in panel data was used to analyze the data. The data included 101 firms with a total of 501 firm-year observations that spanned the period 2008 to 2012, of all the firms listed on the Abu Dhabi Stock Exchange and the Dubai Financial Market. The results show a significant influence of investment opportunities, leverage and institutional ownership on firm performance represented by Return on Assets (ROA) and Refined Economic Value Added (REVA). However, the results find no influence of foreign ownership on ROA, and a negative influence on REVA. The governance index shows a dramatic improvement in the corporate governance practices over time. In addition, corporate governance strength is found to significantly moderate the relationship between investment opportunities, leverage, foreign and institutional ownership with ROA, but only moderates the relationship between leverage and REVA. During the crisis, corporate governance strength appears to play a more efficient moderating role. The findings of this study provide some insights to the regulators and other related parties about the status of corporate governance practices in the UAE and show that good corporate governance is indirectly able to improve the performance of firms during different time periods.
format Thesis
author Gamrh, Bakr Ali Ali Al
author_facet Gamrh, Bakr Ali Ali Al
author_sort Gamrh, Bakr Ali Ali Al
title The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE
title_short The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE
title_full The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE
title_fullStr The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE
title_full_unstemmed The moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the UAE
title_sort moderating effects of governance on the relationship between investment opportunites, leverage and ownership indentity with firm performance in the uae
publishDate 2015
url http://etd.uum.edu.my/5413/
_version_ 1695533676022988800
score 13.211869

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