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Corporate Financial Performance (corporate + financial_performance)

Distribution by Scientific Domains
Humanities and Social Sciences66%
Business, Economics, Finance and Accounting33%

Selected Abstracts

What's Wrong with Corporate Governance: a note

CORPORATE GOVERNANCE, Issue 4 2004
Richard W. Leblanc
Greater use of qualitative research methods , including observing boards in real time and interviewing directors , needs to occur to advance the field. Quantitative researchers are, it would seem, measuring variables in respect of "structural independence," rather than board and individual director effectiveness, per se. Once "board effectiveness" and "director effectiveness" variables are able to be measured, together with their interaction, a greater likelihood of distilling a more definitive relationship between corporate governance and corporate financial performance may occur. [source]

Effect of pollution control on corporate financial performance in a transition economy

ENVIRONMENTAL POLICY AND GOVERNANCE, Issue 4 2007
Dietrich Earnhart
Abstract This study analyzes the effect of pollution control on corporate financial performance in a transition economy. In particular, it assesses whether better pollution control, as measured by lower air pollutant emissions, improves or undermines financial success, as captured by accounting-based measures of financial performance, e.g. profitability. For this assessment, this study analyzes the effect of air pollution control using a panel of Czech firms for the years 1996,1998. The analytical results indicate that better pollution control neither improves nor undermines financial success. These results provide no support for the hypothesis that pollution prevention, generated by improved production processes, led to lower costs, and thus, greater profitability. Copyright © 2007 John Wiley & Sons, Ltd and ERP Environment. [source]

High-involvement work practices and analysts' forecasts of corporate earnings

HUMAN RESOURCE MANAGEMENT, Issue 4 2006
George S. Benson
Research has shown that high-involvement work practices are positively related to corporate financial performance. However, it is unknown if investors are able to use information on high-involvement practices to predict the performance of specific companies. In this study, we examine earnings forecasts for a sample of Fortune 1000 firms and find professional stock analysts consistently underestimated the earnings of firms that made greater use of high-involvement practices during the 1990s. Based on data collected from newspaper articles and annual reports, we argue that these lower estimates resulted from a lack of information on innovative HR practices. Recommendations to managers for disseminating information on and leveraging highinvolvement HR practices are discussed. © 2006 Wiley Periodicals, Inc. [source]

The impact of financial performance on environmental policy: does firm life cycle matter?

BUSINESS STRATEGY AND THE ENVIRONMENT, Issue 6 2009
Khaled Elsayed
Abstract Existing literature has provided inconclusive evidence regarding the impact of financial performance on firm policy relating to environmental issues. In this paper, we propose that the influence of corporate financial performance on corporate environmental policy is unlikely to be monotonic but, rather, will vary with firm life cycle. We test this hypothesis by the application of static and dynamic techniques on panel data from UK companies. The results provide support for our hypotheses that financial performance has the strongest impact on environmental policy in the maturity stage of the firm life cycle and the weakest impact in the rapid growth stage. Copyright © 2007 John Wiley & Sons, Ltd and ERP Environment. [source]

Does explicit contracting effectively link CEO compensation to environmental performance?,

BUSINESS STRATEGY AND THE ENVIRONMENT, Issue 5 2008
James J. Cordeiro
Abstract Empirical research in the area of corporate sustainability highlights potential conflicts between corporate financial performance and environmental performance. In such a situation, agency theory arguments applied to the corporate environmental context predict that top management compensation should be explicitly linked to environmental performance in order to bring about proper alignment of organizational environmental goals and management incentives. We test this proposition for a sample of 207 Standard & Poor 500 firms in the US in 1996 who explicitly report in Investor Responsibility Research Council (IRRC) surveys the presence or absence of a contractual link between environmental performance and executive compensation. We find that only in firms with an explicit linkage between environmental performance and executive contracts is there is any evidence of a significant impact of firm-level environmental performance on CEO compensation levels. However, even this impact is not very impressive since (a) it holds only for IRRC compliance and spill indices and does not hold for IRRC toxic emission indices, and (b) even the effects for compliance and spill indices do not hold relative to industry levels of these indices. Copyright © 2008 John Wiley & Sons, Ltd and ERP Environment. [source]