Investigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange
Abstract The purpose of this article is to investigate the impact of ownership structure and board composition on the technical efficiency of the listed companies on the Tehran Stock Exchange. In attempting this, the technical efficiency of the examined companies was first determined by using Data E...
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Shahid Bahonar University of Kerman
2013
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oai:doaj.org-article:85c2d06450784f0fb7a95aec1c5fee2e2021-11-04T19:44:15ZInvestigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange2008-89142476-292X10.22103/jak.2013.518https://doaj.org/article/85c2d06450784f0fb7a95aec1c5fee2e2013-05-01T00:00:00Zhttps://jak.uk.ac.ir/article_518_5993cf536b7ba3493494eb327f454379.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XAbstract The purpose of this article is to investigate the impact of ownership structure and board composition on the technical efficiency of the listed companies on the Tehran Stock Exchange. In attempting this, the technical efficiency of the examined companies was first determined by using Data Envelopment Analysis (DEA). Then, the relationship between ownership concentration, institutional ownership, board composition and technical efficiency was investigated. The data sample is restricted to 82 companies during an 8 years period from 1381 to 1388. The results of hypothesis testing using Panel Data Regression indicate that there is a significant positive relationship between institutional ownership and technical efficiency even after controlling for potential confounding factors. However, the relationship between ownership concentration, board composition and technical efficiency is positive and insignificant. When the impact of all these corporate mechanisms was considered together, the preceding results holds true. This finding is consistent with the active monitoring hypothesis, indicating that institutional ownership play a significant role in monitoring management and reducing the agency costs.Shahid Bahonar University of Kermanarticle: ownership structureboard compositiontechnical efficiencydata envelopment analysis (dea)panel datatehran stock exchangeAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 4, Iss 12, Pp 35-57 (2013) |
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DOAJ |
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DOAJ |
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FA |
| topic |
: ownership structure board composition technical efficiency data envelopment analysis (dea) panel data tehran stock exchange Accounting. Bookkeeping HF5601-5689 |
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: ownership structure board composition technical efficiency data envelopment analysis (dea) panel data tehran stock exchange Accounting. Bookkeeping HF5601-5689 Investigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange |
| description |
Abstract
The purpose of this article is to investigate the impact of ownership structure and board composition on the technical efficiency of the listed companies on the Tehran Stock Exchange. In attempting this, the technical efficiency of the examined companies was first determined by using Data Envelopment Analysis (DEA). Then, the relationship between ownership concentration, institutional ownership, board composition and technical efficiency was investigated. The data sample is restricted to 82 companies during an 8 years period from 1381 to 1388. The results of hypothesis testing using Panel Data Regression indicate that there is a significant positive relationship between institutional ownership and technical efficiency even after controlling for potential confounding factors. However, the relationship between ownership concentration, board composition and technical efficiency is positive and insignificant. When the impact of all these corporate mechanisms was considered together, the preceding results holds true. This finding is consistent with the active monitoring hypothesis, indicating that institutional ownership play a significant role in monitoring management and reducing the agency costs. |
| format |
article |
| title |
Investigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange |
| title_short |
Investigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange |
| title_full |
Investigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange |
| title_fullStr |
Investigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange |
| title_full_unstemmed |
Investigating the Impact of Ownership Structure and Board Composition on the Technical Efficiency of the Listed Companies on the Tehran Stock Exchange |
| title_sort |
investigating the impact of ownership structure and board composition on the technical efficiency of the listed companies on the tehran stock exchange |
| publisher |
Shahid Bahonar University of Kerman |
| publishDate |
2013 |
| url |
https://doaj.org/article/85c2d06450784f0fb7a95aec1c5fee2e |
| _version_ |
1718444662946004992 |