SEARCH ARTICLE

06 Pages : 42-52

http://dx.doi.org/10.31703/gssr.2019(IV-I).06      10.31703/gssr.2019(IV-I).06      Published : Mar 2019

Corporate Social Responsibility Performance, State Ownership and Executive Compensation: Empirical Evidence from China

    This analysis focus corporate social responsibility and executive compensation in China and also tests the relationship between state possession and executive compensation in presence of CSR. The estimated results confirm our hypotheses true in the selected sample of 2011 to 2014 of China. The firms with high CSR performances positively moderate the previously negative or no relationship between state-ownership and executive compensation. Application of 2SLS and GMM guaranteed the robustness of the results to potential endogeneities.

    CSR Performance; Executive Compensation; StateOwnership; Agency Theory; China
    (1) Abdur Rauf
    Assistant Professor,Department of Economics,Abbottabad University of Science and Technology, Abbottabad, KP, Pakistan.
    (2) Kashif Amin
    Assistant Professor,Department of Management Sciences,Qurtuba University, Peshawar, KP, Pakistan.
    (3) Zafar Saleem
    Assistant Professor, Mohi-ud-Din Islamic University, AJK, Pakistan.

39 Pages : 392 - 405

http://dx.doi.org/10.31703/gssr.2021(VI-II).39      10.31703/gssr.2021(VI-II).39      Published : Jun 2021

Do the Investment Distortions Affect the Performance of Non-financial Firms of Pakistan?

    The investment decisions are very important for investors as it directly affects the firm's future profitability and shareholder's wealth. Firm managers are involved in making inefficient investment decisions in imperfect capital markets. This study aims to examine how the inefficient investment decisions influence the firm performance after controlling for the financial factors. The two steps System Generalized method of moments is used to examine the impact of investment distortion on firm performance. The empirical analysis is based on unbalanced annual panel data set of a sample of 324 non-financial firms listed on the Pakistan Stock Exchange for the period 2015 to 2017. The results show that investment distortion is negatively affecting the performance of non-financial firms in Pakistan; irrespective of the proxy used to measure the firm performance. These results support the information asymmetry theory and agency theory, which explains why managers are involved in making sub-optimal investment decisions at the cost of shareholders' wealth and why their inefficient investment decisions can damage the value of the firm.

    Agency Theory, Information Asymmetry, Investment Distortions, Performance
    (1) Sameen Aftab
    Lecturer, Faculty of Management Sciences, International Islamic University, Islamabad, Pakistan.
    (2) Faisal Rizwan
    Associate Professor, Faculty of Management Sciences, International Islamic University, Islamabad, Pakistan.
    (3) Abdul Rashid
    Professor, International Institute of Islamic Economics (IIIE), International Islamic University, Islamabad, Pakistan.

25 Pages : 277-290

http://dx.doi.org/10.31703/gssr.2024(IX-IV).25      10.31703/gssr.2024(IX-IV).25      Published : Dec 2024

Export Market Orientation and Performance: Comparing Partner Selection Via Referrals and Direct Contact

    Responsiveness activities and intelligence are two categories in which export market orientation has been classified. Even though previous studies have greatly focused on the intelligence and responsiveness of international channel partners that help these activities improve export venture performance. The study explores the advantages that are influenced by choosing international partners through direct contacts or word-of-mouth. The advantages of responsiveness activities and intelligence are also explored in this study. Data is gathered from 246 Japanese manufacturers of exporting firms. For hypotheses testing, regression analysis and post hoc analysis are used. Our findings show international channel partner chosen by word-of-mouth has a moderating effect on export-focused strategies. The study enhances the understanding of export market orientation by breaking it into two key aspects; gathering market insights, and taking actions based on those insights and giving factual proof of how these activities interact differently with partner selection.

    Export Venture Performance, Agency Theory, B2B WOM, Paper Type – Conceptual Paper
    (1) Maham Tariq
    PhD Candidate, Hailey College of Banking & Finance, University of the Punjab, Lahore, Punjab, Pakistan.
    (2) Khan Zargham Ullah
    Assistant Professor, Hailey College of Banking & Finance, University of the Punjab, Lahore, Punjab, Pakistan.