Home > Interactions Between Corporate Governance, Earnings Quality Attributes and Value of Firm: Empirical Analysis from Non-Financial Sector of Pakistan
Interactions Between Corporate Governance, Earnings Quality Attributes and Value of Firm: Empirical Analysis from Non-Financial Sector of Pakistan
The existing literature concerning governance-value relationship is inconclusive as it assumes that the association is direct. A theoretical argument suggests that the effective corporate governance reduces the information asymmetry through better financial reporting quality. This serves as a tool to reduce this information risk. Following the argument, this study is an attempt to investigate the mediating role of earnings quality, a measure of financial reporting quality, in governance-value association. For estimation, panel data of 214 non-financial listed firms in Pakistan for the period 2003-2014 is considered and one-way random effect estimator for the SUR system is employed, as suggested by Biørn (2004). This study uses principal component analysis to measure the overall corporate governance; and to measure the financial reporting quality, five dimensions are considered to capture the reliability and relevancy characteristics of financial reporting. Value of firm is measured through return on assets and Tobin’s-Q. The findings of the study show that the corporate governance effectively improves the earnings quality and value of the firm, which approves the monitoring role of corporate governance mechanism. Moreover, earnings quality contributes positively in maximizing the value of the firm and the results demonstrate that better earnings quality partially mediates the governance-value association. It is concluded that corporate governance not only improves the value of the firm directly, but also indirectly through the channel of earnings quality. The findings may be of interest to the academic researchers, practitioners and regulators who are interested in discovering the quality of corporate governance practices in Pakistani context. The findings also provide the Pakistani business community insights concerning the quality of corporate governance and corporate reporting. Also, this research helps to inform regulators about the benefits of disclosure of more transparent information to stakeholders and to the firm. Keywords: Earnings quality, channel effect, overall corporate governance, SUR, channel effect, value of firm.
’’ہائے ہائے‘‘ تے ’’اوئی اوئی‘‘ دیاں کوکاں سن کے، متھے تے چٹی پٹی بنھی ویکھ کے، سجا ہویا منہ سامنے والے دو دند ٹتے ہوئے تے لت اتے پلتر بنھیا ہویا ویکھ کے تسیں میرے کولوں ایہہ ضرور پچھو گے جے مینوں ہویا کیہ اے۔ کل تک تے چنگا بھلا ساں۔
میرے بھراؤ! ہویا کجھ وی نئیں تہاڈیاں ساریاں گلاں دا جواب ایہہ وے پئی ہویا صرف اینا جے پچھلے کچھ دناں توں ساڈے اتے ایہہ گل ظاہر ہوئی۔ پئی ساڈے وچ اک اچا تے سچا لیڈر بنن دیاں ساریاں خوبیاں موجود نیں ایہناں وچوں ساریاں توں چنگی خوبی ساڈے اپنے خیال وچ ایہہ سی بھئی ساڈے وچ حق دی گل کہن دی صلاحیت اﷲ میاں نے لوڑ توں ودھ بھردتی اے۔ اسیں اپنی ایس خوبی نوں بڑا ای گھٹ ورتیا سی۔ اسیں ایہہ فیصلہ کیتا جے اگوں توں جدوں ویلا لبھیا اپنی ایس خوبی نوں جی داراں وانگوں ورتاں گے۔
ساریاں توں پہلاں تے سانوں اپنی ایہہ خو بی جگ نوں وکھاون د اموقعہ اک سینما وچ ملیا۔ فلم نویں سی تے بھیڑ بہتی سی۔ اسیں ٹکٹ لے کے اک پاسے کھلو گئے کیوں جے ہالی پہلا...
Coronaviruses are a huge family of viruses that originate disease extending from the common cold to further fatal maladies. Objective: The study was conducted to determine the gender based differences in COVID-19 patients. Methods: Study included total 150 participants visiting Department of Medicine, Mayo Hospital, Lahore, Pakistan. Data were collected through self-structured questionnaire using non-probability convenient sampling. Prior written informed consents were taken from the participants. Ethical approval was taken fromThe University of Lahore, Lahore. Data were analyzed through SPSS version 25.0. Results: Results showed that among the comorbidities hypertension was most common in COVID-19 patients followed by diabetes mellitus, especially in females. Whereas renal disorders and asthma were most reported in males. Analysis revealed that there was a significant association (p=0.001) between disease severity and gender. Conclusion: Study concluded that there was significant association between gender and disease severity.
The taxonomic studies of the sub-family Noctuinae of the family Noctuidae with five genera and twenty four species is carried out with special reference to their head appendages including proboscis and palpi, ventaions of fore and hind wings and male and female genital components where available from Pakistan. A key to the tribes, genera and species is also formulated from most reliable characters for easy indentification. A new specie and twenty three already described species are described first time in detailed and compared with their closest allies from Pakistan. A cladogram is constructed showing the relationships of the included taxa based on the cladistic analysis of all the genera and species of sub-family Noctuinae. Characters are scanned and coded from entire body and male and female genitalia and the apomorphies including synapomorphies of the taxa are also briefly discussed.