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Title: The relationship between corporate governance mechanisms and financial performance: the case of listed industrial companies in Oman
Authors: Raboshuk, Alina
Zakharov, Dmytro
Lehenchuk, Serhii
Morhulets, Oksana
Hryhorevska, Olena
Keywords: corporate governance
financial performance
industrial companies
Gulf Cooperation Council
Issue Date: 1-Jun-2023
Citation: The relationship between corporate governance mechanisms and financial performance: the case of listed industrial companies in Oman / A. Raboshuk, D. Zakharov, S. Lehenchuk, O. Morgulets, O. Hryhorevska // Investment Management and Financial Innovations. – 2023. – Volume 20, Issue 2. – P. 244-255.
Source: Investment Management and Financial Innovations
Abstract: The purpose of the study is to examine the impact of corporate governance mechanisms on the financial performance of listed industrial companies in Oman. As the main research method, panel data regression analysis was used to analyze data from 36 Omani industrial companies, listed on the Muscat Stock Exchange for the period 2017-2021. Three regression models were developed using three dependent variables (Return on Assets, Return on Equity, Return on Sales), seven independent variables (Board Size, Independent and Non-executive Board Members, Board Meeting, Chief Executive Officer, Dummy variable for Board Change, Dummy variable for the Secretary on the Board, Dummy variable for Internal Auditor), and two control variables (Leverage, Size of the company). According to the research results, a negative influence of the Board Size and Dummy variable for the presence of the Secretary on the Board on the Return on Assets indicator at 10% and 5% significance level was found; moreover, there is a positive influence of Leverage and Size of the company at the 1% and 5% significance level on Return of Assets. Although, none of the independent variables used has a significant impact on the Return on Equity indicator. Return on Sales is significantly affected only by two control variables, i.e., a negative impact of Leverage at the 10% significance level and a positive impact of the Size of the company at the 10% significance level. The results obtained in the study indicate the imperfection of the corporate governance mechanisms implemented by Omani industrial companies in the field of ensuring financial efficiency
DOI: 10.21511/imfi.20(2).2023.21
Faculty: Факультет управління та бізнес-дизайну
Факультет культурних і креативних індустрій
Department: Кафедра фінансів та бізнес-консалтингу
Кафедра туризму та готельно-ресторанного бізнесу
ISSN: 1810-4967 (print)
1812-9358 (online)
Appears in Collections:Наукові публікації (статті)
Кафедра туризму та готельно-ресторанного бізнесу (ТГРБ)
Кафедра фінансів та бізнес-консалтингу (ФБК)

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