CORPORATE GOVERNANCE AND FIRM VALUE OF KAZAKHSTANI COMPANIES IN THE CONDITIONS OF ECONOMIC INSTABILITY
Journal Title: Polish Journal of Management Studies - Year 2018, Vol 17, Issue 2
Abstract
The main goal of this paper is to evaluate the effects of corporate governance system on Kazakhstani companies’ economic and financial performances following the ongoing economic sanctions against the Russian Federation. With the empirical study of the Corporate Governance disclosures of large Kazakhstani listed firms, we tested the hypothesized causal relationship between management ownership and other corporate governance variables and corporate financial performance indicators, such as ROA, ROE, ROS, and others. Based on correlation and regression analysis, we found that there is no reason to presume the strong relations between the analyzed variables. Moreover, we come to a conclusion that the sanctions only have an indirect influence at the Kazakhstani companies. Our findings indicate that the firms’ financial conditions might be mostly affected by other factors, such as the low oil and gas prices in world market.<br/><br/>
Authors and Affiliations
Zhanat Zhussupova, Irina Onyusheva, Mohamed El-Hodiri
Keywords
Related Articles
- EP ID EP305933
- DOI 10.17512/pjms.2018.17.2.20
- Views 70
- Downloads 0
ANTECEDENTS PREDICTING COACHES’ INTENTIONS TO REMAIN IN SPORT ORGANISATIONS
In order to acquire optimal performance from coaches, sport organisations provide various mechanisms in an attempt to improve their management of sport coaches. Demonstrating support for their coaches, by proving adequat...
AGRICULTURAL EXPLOITATION FROM THE PERSPECTIVE OF ROMANIA’S INTEGRATION INTO THE EUROPEAN UNION
Rural development and, implicitly, raising the standard of living of the village inhabitants are not possible without modernizing the agricultural production which can be achieved by putting into practice the results of...
Analysis of the Efficiency of Innovation Management in the Countries of the Eurasian Economic Union
The article contains a cross-country analysis of the effectiveness of innovation management based on information from the Global Innovation Index among the countries of the Eurasian Economic Union (EAEU). From the analys...
THE AGENT-BASED MODEL OF REGULATION OF RETAIL PRICES ON THE MARKET OF PETROLEUM PRODUCTS
This article provides model of the retail gasoline market as multi-agent systems. The main factors, which affecting on the retail price of gasoline were determined. The authors found that using the agent approach, which...
Differences in Black Generation Y Students’ Attitudes Towards Personal Financial Planning and Perceived Financial-Management Skills Based on Selected Demographic Factors
Personal financial planning and financial-management skills are effective interventions to help guarantee a fruitful and stable financial future. As such, the purpose of this study was to investigate differences in South...