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This study analyses the impact of transaction exposure, firm size, and liquidity on firm value with leverage as a mediating variable in on Consumer Non-Cylicals Sector Companies Listed on the Indonesia Stock Exchange from 2018 to 2023. Using Signalling Theory and Trade-off Theory as theoretical frameworks, the research employs path analysis to evaluate the relationships between variables. The findings reveal that transaction exposure, firm size, and liquidity have a positive significant effect on firm value. Conversely, leverage shows a negative significant impact on firm value, suggesting that excessive debt increases financial risk, thereby reducing firm value. Moreover, the study indicates that leverage does not mediate the effects of transaction exposure, firm size, or liquidity on firm value. These results highlight the importance for companies to prioritize managing liquidity and capital structure effectively to optimize firm value. Excessive use of debt should be minimized to avoid diminishing profitability and reducing market value, especially for firms with high exposure to international transactions.

Dividend payout is one of financial options that Saccos consider as part of the key performance indicators for Saccos. Deposit taking Saccos in Kenya have faced numerous challenges namely, governance, managerial and operational such that the performance of a number of them continues to be sub optimal according to the report by SASRA. Therefore, this study sought to examine the influence of board characteristics on dividend policy of deposit taking Saccos in Kenya under guidance by agency cost theory. The study utelized causal design and descriptive survey design. The targeted population was 403 stakeholders sampling 201 through stratified simple random sampling. The sacco directors/chairpersons and the CFO/CEOs formed unit of analysis. Closed ended questionnaires were applied for primary data. A list of 20 Saccos in Starehe Sub County, Nairobi County were basis for pilot test to establish reliability and validity of research instruments. Cronbach Alpha was employed to ascertain reliability, whereas content and construct validity were utilized to attain validity. The data underwent analysis through the application of descriptive as well as inferential statistics. The investigation ensured that the assumptions of linear regression were satisfied before conducting numerous linear regressions. Tables were used to present data. The results indicated a positive significant association between board characteristics practices and dividend policy P:0.000<0.05 hence conclusive that deposit-taking Saccos in Kenya focused on board characteristics as envisaged. The study recommended that Sacco’s should diverse the board features to ensure they accommodate the dividend policy framework. 

There has always been controversy among researchers over how dividend policies affect share prices, and this equivocal relationship varies throughout international markets. This study is set to examine the relation between share prices and number of dividend policy and profitability variables. Based on the information from five insurance companies that are listed on Kuwait Stock Exchange (KSE) over the period 2014 and 2022, findings indicates that 55.3% of stock prices could be explained by factors related to profitability and dividend policy. The relationship between stock price, as a dependent variable, and earnings per share (EPS), dividend yield (DY), earning to price ratio (EP), risk premium (RP), and retention ratio (RR), as independent variables, was investigated in this study using OLS regression approach. The results of the regression analysis demonstrated a significant direct relationship between stock price and earnings per share (EPS), suggesting that investors choose highly profitable shares. At the 99% confidence level, the earnings to price ratio (EP) likewise revealed a statistically significant direct relationship with the stock price. At 90% confidence level, risk premium (RP) also shown a substantial direct relationship. The only variable that significantly correlated negatively with share prices was dividend yield (DY), suggesting that investors choose more stable payouts over uncertain future capital gains. Conversely, the retention ratio (RR) demonstrated a negligible direct impact on share prices.  

The Kenyan government has implemented numerous reforms, including the inclusion of the manufacturing sector as one of the government's four major agendas for revitalizing the sector. Despite these reforms, statistics show that over the last ten years, manufacturing industries in Kenya listed on the Nairobi Securities Exchange have experienced stagnation and declining profits, slowing growth, and declining market share, necessitating the establishment and execution of effective corporate governance. Therefore, the current study investigated the effects of corporate governance on performance of manufacturing and allied firms listed at Nairobi Security Exchange, Kenya. The study specifically investigated the effects of board composition, board size, board independence and board diversity on performance of manufacturing and allied firms. Agency theory, RBV and stakeholder’s theory anchor the study. Descriptive research design was used. Stratified random sampling technique was used as a sampling technique. A self-administered semi-structured questionnaire was used to collect primary data from a population of four hundred and thirty-nine manufacturing and allied firms. Two hundred and nine corporate managers from these manufacturing companies were sampled. A pilot test of twenty-nine respondents was conducted. Collected data was coded, cleaned, and analyzed. Data analysis included the creation and interpretation of descriptive means, percentages, and standard deviations, which was presented in the form of tables, charts, and graphs. The results of regression analysis established that board composition, board size, board independence and board diversity significant influenced firm performance of manufacturing and Allied Firms listed at the Nairobi Securities Exchange, Kenya.

The study examined the influence of board nationality diversity on shareholder value creation of non- financial companies listed on the JSE for a 10- year period from 2013 to 2022.The study used quantitative quasi-experimental research design. The study measured board nationality diversity using proportion of foreign directors on board, Blau index for board nationality diversity, dummy variables for one, two and three or foreign directors. The proxies of shareholder value creation included standard market value added, market- to book ratio and Tobin’s Q and fixed effects model based on linear and curvilinear models were used to test the hypotheses. Main findings of the study demonstrate that proportion of foreign directors on board has an insignificant negative impact on standardised market value added and Tobin’s Q, while significant negative impact on market to book ratio.  Blau index for board nationality diversity has insignificant negative impact on standardised market value added and market to book ratio, yet insignificant positive impact on Tobin’s Q. One foreign director on board has significant positive impact on standard market value added and market to book ratio, while insignificant positive impact on Tobin’s Q. Two and three foreign directors on board have insignificant positive impact on all shareholder value creation measures. In relation to curvilinear models, proportion of foreign directors on board and Blau in index for board nationality diversity have both positive and negative impact on all shareholder value creation measures highlighting an inverted U- shaped effects.

This study analyses the impact of transaction exposure, firm size, and liquidity on firm value with leverage as a mediating variable in on Consumer Non-Cylicals Sector Companies Listed on the Indonesia Stock Exchange from 2018 to 2023. Using Signalling Theory and Trade-off Theory as theoretical frameworks, the research employs path analysis to evaluate the relationships between variables. The findings reveal that transaction exposure, firm size, and liquidity have a positive significant effect on firm value. Conversely, leverage shows a negative significant impact on firm value, suggesting that excessive debt increases financial risk, thereby reducing firm value. Moreover, the study indicates that leverage does not mediate the effects of transaction exposure, firm size, or liquidity on firm value. These results highlight the importance for companies to prioritize managing liquidity and capital structure effectively to optimize firm value. Excessive use of debt should be minimized to avoid diminishing profitability and reducing market value, especially for firms with high exposure to international transactions.

The Kenyan government has implemented numerous reforms, including the inclusion of the manufacturing sector as one of the government's four major agendas for revitalizing the sector. Despite these reforms, statistics show that over the last ten years, manufacturing industries in Kenya listed on the Nairobi Securities Exchange have experienced stagnation and declining profits, slowing growth, and declining market share, necessitating the establishment and execution of effective corporate governance. Therefore, the current study investigated the effects of corporate governance on performance of manufacturing and allied firms listed at Nairobi Security Exchange, Kenya. The study specifically investigated the effects of board composition, board size, board independence and board diversity on performance of manufacturing and allied firms. Agency theory, RBV and stakeholder’s theory anchor the study. Descriptive research design was used. Stratified random sampling technique was used as a sampling technique. A self-administered semi-structured questionnaire was used to collect primary data from a population of four hundred and thirty-nine manufacturing and allied firms. Two hundred and nine corporate managers from these manufacturing companies were sampled. A pilot test of twenty-nine respondents was conducted. Collected data was coded, cleaned, and analyzed. Data analysis included the creation and interpretation of descriptive means, percentages, and standard deviations, which was presented in the form of tables, charts, and graphs. The results of regression analysis established that board composition, board size, board independence and board diversity significant influenced firm performance of manufacturing and Allied Firms listed at the Nairobi Securities Exchange, Kenya.

Dividend payout is one of financial options that Saccos consider as part of the key performance indicators for Saccos. Deposit taking Saccos in Kenya have faced numerous challenges namely, governance, managerial and operational such that the performance of a number of them continues to be sub optimal according to the report by SASRA. Therefore, this study sought to examine the influence of board characteristics on dividend policy of deposit taking Saccos in Kenya under guidance by agency cost theory. The study utelized causal design and descriptive survey design. The targeted population was 403 stakeholders sampling 201 through stratified simple random sampling. The sacco directors/chairpersons and the CFO/CEOs formed unit of analysis. Closed ended questionnaires were applied for primary data. A list of 20 Saccos in Starehe Sub County, Nairobi County were basis for pilot test to establish reliability and validity of research instruments. Cronbach Alpha was employed to ascertain reliability, whereas content and construct validity were utilized to attain validity. The data underwent analysis through the application of descriptive as well as inferential statistics. The investigation ensured that the assumptions of linear regression were satisfied before conducting numerous linear regressions. Tables were used to present data. The results indicated a positive significant association between board characteristics practices and dividend policy P:0.000<0.05 hence conclusive that deposit-taking Saccos in Kenya focused on board characteristics as envisaged. The study recommended that Sacco’s should diverse the board features to ensure they accommodate the dividend policy framework. 

The study examined the influence of board nationality diversity on shareholder value creation of non- financial companies listed on the JSE for a 10- year period from 2013 to 2022.The study used quantitative quasi-experimental research design. The study measured board nationality diversity using proportion of foreign directors on board, Blau index for board nationality diversity, dummy variables for one, two and three or foreign directors. The proxies of shareholder value creation included standard market value added, market- to book ratio and Tobin’s Q and fixed effects model based on linear and curvilinear models were used to test the hypotheses. Main findings of the study demonstrate that proportion of foreign directors on board has an insignificant negative impact on standardised market value added and Tobin’s Q, while significant negative impact on market to book ratio.  Blau index for board nationality diversity has insignificant negative impact on standardised market value added and market to book ratio, yet insignificant positive impact on Tobin’s Q. One foreign director on board has significant positive impact on standard market value added and market to book ratio, while insignificant positive impact on Tobin’s Q. Two and three foreign directors on board have insignificant positive impact on all shareholder value creation measures. In relation to curvilinear models, proportion of foreign directors on board and Blau in index for board nationality diversity have both positive and negative impact on all shareholder value creation measures highlighting an inverted U- shaped effects.

Across the globe and particularly in the developing country settings, there has been an upsurge of interests from businesses, academics and policy-makers alike in understanding the relationship between corporate board characteristics and governance practices of State-Owned Enterprises (SOEs). This understanding especially in post-pandemic era would aid in formulating best policies for optimal performance of the SOEs. The aim of this study was to investigate the influence of board characteristics on corporate governance practices in SOEs in Ghana. Utilizing a structured questionnaire, data was collected from employees across various SOEs and analysed through Smart-PLS structural equation modelling. The findings indicate that board demographic characteristics have a significantly positive impact on governance practices, underscoring the importance of diversity in board composition. This outcome highlights the need for SOE policymakers to prioritize board diversity to enhance governance efficacy. This research enriches the literature on corporate governance in the developing country context and has practical implications for enhancing SOE management and performance. It also provides a foundation for future research to explore the dynamics of board characteristics in different contexts.