Do corporate governance and top management team diversity have a financial impact among financial sector? A further analysis

References

• Abdalkrim, G. (2019). Chief executive officer compensation, corporate governance and performance: Evidence from KSA firms. Corporate Governance (Bingley), 19(6), 1216–24. doi:10.1108/CG-09-2017-0228.
   Web of Science ®Google Scholar
• Abdel-Fattah, T. M. H. (2008). Voluntary disclosure practices in emerging capital markets: The case of Egypt. Durham University.
   Google Scholar
• Aburime, T. U. (2009). Impact of corruption on bank profitability in Nigeria. Euro Economica, 23(2), 50–57.
   Google Scholar
• Aggarwal, R., & Williamson, R. (2006). Did new regulations target the relevant corporate governance attributes? doi:10.2139/ssrn.859264. Available at SSRN 859264.
   Google Scholar
• Ahmed Haji, A. (2014). The relationship between corporate governance attributes and firm performance before and after the revised code: Some Malaysian evidence. International Journal of Commerce and Management, 24(2), 134–151. doi:10.1108/IJCoMA-02-2012-0009.
   Google Scholar
• Ahmed, E., & Hamdan, A. (2015). The impact of corporate governance on firm performance: Evidence from Bahrain bourse. International Management Review, 11(2), 21.
   Google Scholar
• Akbar, S., Poletti-Hughes, J., El-Faitouri, R., & Shah, S. Z. A. (2016). More on the relationship between corporate governance and firm performance in the UK: Evidence from the application of generalized method of moments estimation. Research in International Business and Finance, 38, 417–429. doi:10.1016/j.ribaf.2016.03.009.
   Web of Science ®Google Scholar
• Aktan, B., Turen, S., Tvaronavičienė, M., Celik, S., & Alsadeh, H. A. (2018). Corporate governance and performance of the financial firms in Bahrain. Polish Journal of Management Studies, 17(1), 39–58. doi:10.17512/pjms.2018.17.1.04.
   Web of Science ®Google Scholar
• Al‐Matari, E. M. (2021). The determinants of bank profitability of GCC: The role of bank liquidity as moderating variable—further analysis. International Journal of Finance & Economics. doi:10.1002/ijfe.2485.
   Web of Science ®Google Scholar
• Albassam, W. (2014). Corporate governance, voluntary disclosure and financial performance: Ban empirical analysis of Saudi listed firms using a mixed-methods research design. University of Glasgow.
   Google Scholar
• Aldamen, H., Duncan, K., Kelly, S., McNamara, R., & Nagel, S. (2012). Audit committee characteristics and firm performance during the global financial crisis. Accounting & Finance, 52(4), 971–1000. doi:10.1111/j.1467-629X.2011.00447.x.
   Web of Science ®Google Scholar
• Al-Ghamdi, M., & Rhodes, M. (2015). Family ownership, corporate governance and performance: Evidence from Saudi Arabia. International Journal of Economics and Finance, 7(2), 78–89. doi:10.5539/ijef.v7n2p78.
   Google Scholar
• Alhassan, A., Bajaher, M., & Alshehri, A. (2015). Corporate governance, firm attributes and financial performance of Saudi listed banks. World Review of Business Research, 5(3), 282–295.
   Google Scholar
• Al-Homaidi, E. A., Al-Matari, E. M., Anagreh, S., Tabash, M. I., & Senan, N. A. M. (2021). The relationship between zakat disclosures and Islamic banking performance: Evidence from Yemen. Banks and Bank Systems, 161(1), 52–61. doi:10.21511/bbs.16(1).2021.05.
   Google Scholar
• Al-Homaidi, E. A., Al-Matari, E. M., Tabash, M. I., Khaled, A. S., & Senan, N. A. M. (2021). The influence of corporate governance characteristics on profitability of Indian firms: An empirical investigation of firms listed on Bombay stock exchange. Investment Management and Financial Innovations, 18(1), 114–123. doi:10.21511/imfi.18(1).2021.10.
   Google Scholar
• Al-Hussain, A. H., & Johnson, R. L. (2009). Relationship between corporate governance efficiency and Saudi banks’ performance. The Business Review, 14(1), 111–117.
   Google Scholar
• Al-Matari, E. M. A. (2014). Corporate governance and performance of non-financial public listed firms in Oman.
   Google Scholar
• Al-Matari, E. M. (2020). Do characteristics of the board of directors and top executives have an effect on corporate performance among the financial sector? Evidence using stock. Corporate Governance (Bingley), 20(1), 16–43. doi:10.1108/CG-11-2018-0358.
   Web of Science ®Google Scholar
• Al-Matari, E. M., Al-ahdal, W. M., Farhan, N. H., Senan, N. A. M., & Tabash, M. I. (2020). Determinants of characteristics of top executive management effect on firm performance in the financial sector: Panel data approach. Contaduría y administración, 65(4), 1–18.
   Google Scholar
• Al-Matari, E. M., & Alosaimi, M. H. (2022). the role of women on board of directors and firm performance: evidence from Saudi Arabia financial market. Corporate Governance and Organizational Behavior Review, 6(3), 44–55. doi:10.22495/cgobrv6i3p4.
   Google Scholar
• Al-Matari, E. M., Al-Swidi, A. K., & Fadzil, F. H. B. (2014a). Audit committee characteristics and executive committee characteristics and firm performance in Oman: Empirical study. Asian Social Science, 10(12). doi:10.5539/ass.v10n12p98.
   Google Scholar
• Al-Matari, E. M., Al-Swidi, A. K., & Fadzil, F. H. B. (2014b). The measurements of firm performance’s dimensions. Asian Journal of Finance & Accounting, 6(1), 24. doi:10.5296/ajfa.v6i1.4761.
   Google Scholar
• Al-Matari, E. M., Al-Swidi, A. K., Fadzil, F. H., & Al-Matari, Y. A. (2012a). The impact of board characteristics on firm performance: Evidence from nonfinancial listed companies in Kuwaiti stock exchange. International Journal of Accounting and Financial Reporting, 2(2), 310–332. doi:10.5296/ijafr.v2i2.2384.
   Google Scholar
• Al-Matari, Y. A., Al-Swidi, A. K., Fadzil, F. H. B. F. H., & Al-Matari, E. M. (2012b). Board of directors, audit committee characteristics and the performance of Saudi Arabia listed companies. International Review of Management and Marketing, 2(4), 241–251.
   Google Scholar
• Al-Matari, E. M., Al-Swidi, A. K., & Faudziah, H. B. F. (2014). The effect on the relationship between board of directors characteristics on firm performance in Oman: Empirical Study. Middle-East Journal of Scientific Research, 21(3), 556–574.
   Google Scholar
• Al-Matari, E. M., & Mgammal, M. H. (2020). The moderating effect of internal audit on the relationship between corporate governance mechanisms and corporate performance among Saudi Arabia listed companies. Contaduría y Administración.
   Google Scholar
• Al-Matari, E. M., Mgammal, M. H., Alosaimi, M. H., Alruwaili, T. F., & Al-Bogami, S. (2022). Fintech, Board of Directors and Corporate Performance in Saudi Arabia Financial Sector: Empirical Study. Sustainability, 14(17), 10750. doi:10.3390/su141710750.
   Web of Science ®Google Scholar
• AlSagr, N., Belkhaoui, S., & Aldosari, A. (2018). the effect of corporate governance mechanisms on bank performance evidence from Saudi banking sector. Asian Economic and Financial Review, 8(8), 1111–1125. doi:10.18488/journal.aefr.2018.88.1111.1125.
   Google Scholar
• Al-Turki, K. H. (2006). Corporate governance in Saudi Arabia: Overview and empirical investigation. Victoria University.
   Google Scholar
• Amason, A. C., & Sapienza, H. J. (1997). The effects of top management team size and interaction norms on cognitive and affective conflict. Journal of Management, 23(4), 495–516. doi:10.1177/014920639702300401.
   Web of Science ®Google Scholar
• Ammann, M., Oesch, D., & Schmid, M. M. (2011). Corporate governance and firm value: International evidence. Journal of Empirical Finance, 18(1), 36–55. doi:10.1016/j.jempfin.2010.10.003.
   Web of Science ®Google Scholar
• Anum Mohd Ghazali, N. (2010). Ownership structure, corporate governance and corporate performance in Malaysia. International Journal of Commerce and Management, 20(2), 109–119. doi:10.1108/10569211011057245.
   Google Scholar
• Arora, A., & Sharma, C. (2016). Corporate governance and firm performance in developing countries: Evidence from India. Corporate Governance, 16(2), 420–436. doi:10.1108/CG-01-2016-0018.
   Web of Science ®Google Scholar
• Azeez, A. A. (2015). Corporate governance and firm performance: Evidence from Sri Lanka. Journal of Finance, 3(1), 180–189.
   Google Scholar
• Baek, J.-S., Kang, J.-K., & Park, K. S. (2004). Corporate governance and firm value: Evidence from the Korean financial crisis. Journal of Financial Economics, 71(2), 265–313. doi:10.1016/S0304-405X(03)00167-3.
   Web of Science ®Google Scholar
• Baixauli-Soler, J. S., & Sanchez-Marin, G. (2011). Organizational governance and TMT pay level adjustment. Journal of Business Research, 64(8), 862–870. doi:10.1016/j.jbusres.2010.09.011.
   Web of Science ®Google Scholar
• Baltagi, B. (2008). Econometric analysis of panel data. John Wiley & Sons.
   Google Scholar
• Bantel, K. A., & Jackson, S. E. (1989). Top management and innovations in banking: Does the composition of the top team make a difference? Strategic Management Journal, 10(S1), 107–124. doi:10.1002/smj.4250100709.
   Web of Science ®Google Scholar
• Barrick, M. R., Bradley, B. H., Kristof-Brown, A. L., & Colbert, A. E. (2007). The moderating role of top management team interdependence: Implications for real teams and working groups. Academy of Management Journal, 50(3), 544–557. doi:10.5465/amj.2007.25525781
   Web of Science ®Google Scholar
• Bédard, J., Chtourou, S. M., & Courteau, L. (2004). The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory, 23(2), 13–35. doi:10.2308/aud.2004.23.2.13.
   Web of Science ®Google Scholar
• Beiner, S., Drobetz, W., Schmid, M. M., & Zimmermann, H. (2006). An integrated framework of corporate governance and firm valuation. European Financial Management, 12(2), 249–283. doi:10.1111/j.1354-7798.2006.00318.x.
   Web of Science ®Google Scholar
• Bel, G., & Esteve, M. (2018). Is private production of hospital services cheaper than public production? A meta-regression of public vs private costs and efficiency for hospitals. University of Barcelona, Research Institute of Applied Economics.
   Google Scholar
• Belgibayeva, A., & Plekhanov, A. (2019). Does corruption matter for sources of foreign direct. Review of World Economics, 155(3), 487–510. doi:10.1007/s10290-019-00354-1.
   Web of Science ®Google Scholar
• Berle, A., & Means, G. (1932). Private property and the modern corporation. Mac-Millan.
   Google Scholar
• Bhatt, P. R., & Bhatt, R. R. (2017). Corporate governance and firm performance in Malaysia. Corporate Governance: The International Journal of Business in Society, 17(5), 896–912. doi:10.1108/CG-03-2016-0054.
   Web of Science ®Google Scholar
• Bhattrai, H. (2017). Effect of corporate governance on financial performance of bank in Nepal. ZENITH International Journal of Multidisciplinary Research, 7(3), 97–110.
   Google Scholar
• Black, B. S., De Carvalho, A. G., & Gorga, É. (2012). What matters and for which firms for corporate governance in emerging markets? Evidence from Brazil (and other BRIK countries). Journal of Corporate Finance, 18(4), 934–952. doi:10.1016/j.jcorpfin.2011.10.001.
   Web of Science ®Google Scholar
• Bozec, R., Dia, M., & Bozec, Y. (2010). Governance–performance relationship: A re‐examination using technical efficiency measures. British Journal of Management, 21(3), 684–700. doi:10.1111/j.1467-8551.2008.00624.x.
   Web of Science ®Google Scholar
• Braga‐Alves, M. V., & Shastri, K. (2011). Corporate governance, valuation, and performance: Evidence from a voluntary market reform in Brazil. Financial Management, 40(1), 139–157. doi:10.1111/j.1755-053X.2010.01137.x.
   Web of Science ®Google Scholar
• Brown, L. D., & Caylor, M. L. (2006). Corporate governance and firm valuation. Journal of Accounting and Public Policy, 25(4), 409–434. doi:10.1016/j.jaccpubpol.2006.05.005.
   Google Scholar
• Buallay, A., Hamdan, A., & Zureigat, Q. (2017). Corporate governance and firm performance: Evidence from Saudi Arabia. Australasian Accounting, Business and Finance Journal, 11(1), 78–98. doi:10.14453/aabfj.v11i1.6.
   Web of Science ®Google Scholar
• Buyl, T., Boone, C., Hendriks, W., & Matthyssens, P. (2011). Top management team functional diversity and firm performance: The moderating role of CEO characteristics. Journal of Management Studies, 48(1), 151–177. doi:10.1111/j.1467-6486.2010.00932.x.
   Web of Science ®Google Scholar
• Cai, L., Liu, Q., & Yu, X. (2013). Effects of top management team heterogeneous background and behavioural attributes on the performance of new ventures. Systems Research and Behavioral Science, 30(3), 354–366. doi:10.1002/sres.2176.
   Web of Science ®Google Scholar
• Carmeli, A., & Halevi, M. Y. (2009). How top management team behavioral integration and behavioral complexity enable organizational ambidexterity: The moderating role of contextual ambidexterity. The Leadership Quarterly, 20(2), 207–218. doi:10.1016/j.leaqua.2009.01.011.
   Web of Science ®Google Scholar
• Certo, S. T., Lester, R. H., Dalton, C. M., & Dalton, D. R. (2006). Top management teams, strategy and financial performance: A meta‐analytic examination. Journal of Management Studies, 43(4), 813–839. doi:10.1111/j.1467-6486.2006.00612.x.
   Web of Science ®Google Scholar
• Chaganti, R., & Sambharya, R. (1987). Strategic orientation and characteristics of upper management. Strategic Management Journal, 8(4), 393–401. doi:10.1002/smj.4250080409.
   Web of Science ®Google Scholar
• Chijoke-Mgbame, A. M., Mgbame, C. O., Akintoye, S., & Ohalehi, P. (2019). The role of corporate governance on CSR disclosure and firm performance in a voluntary environment. Corporate Governance (Bingley), 20(2), 294–306. doi:10.1108/CG-06-2019-0184.
   Web of Science ®Google Scholar
• Child, J. (1974). Managerial and organizational factors associated with company performance part I. Journal of Management Studies, 11(3), 175–189. doi:10.1111/j.1467-6486.1974.tb00693.x.
   Web of Science ®Google Scholar
• Cordeiro, J. J., Veliyath, R., & Romal, J. B. (2007). Moderators of the relationship between director stock‐based compensation and firm performance. Corporate Governance: An International Review, 15(6), 1384–1393. doi:10.1111/j.1467-8683.2007.00652.x.
   Web of Science ®Google Scholar
• Core, J. E., Holthausen, R. W., & Larcker, D. F. (1999). Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics, 51(3), 371–406. doi:10.1016/S0304-405X(98)00058-0.
   Web of Science ®Google Scholar
• Cyert, R. M., Kang, S.-H., & Kumar, P. (2002). Corporate governance, takeovers, and top-management compensation: Theory and evidence. Management Science, 48(4), 453–469. doi:10.1287/mnsc.48.4.453.205.
   Web of Science ®Google Scholar
• Cyert, R. M., & March, J. G. (1963). A behavioral theory of the firm. Englewood Cliffs, NJ, 2(4), 169–187.
   Google Scholar
• Dan, D.V., & Binh, V. D. (2019). Evaluating the impact of Official Development Assistance (ODA) on economic growth in developing countries. In International Econometric Conference of Vietnam (pp. 910–918). Springer, Cham.
   Google Scholar
• Darko, J., Aribi, Z. A., & Uzonwanne, G. C. (2016). Corporate governance: The impact of director and board structure, ownership structure and corporate control on the performance of listed companies on the Ghana stock exchange. Corporate Governance.
   Google Scholar
• Dey, A. (2008). Corporate governance and agency conflicts. Journal of Accounting Research, 46(5), 1143–1181.
   Web of Science ®Google Scholar
• Escribá‐Esteve, A., Sánchez‐Peinado, L., & Sánchez‐Peinado, E. (2009). The influence of top management teams in the strategic orientation and performance of small and medium‐sized enterprises. British Journal of Management, 20(4), 581–597. doi:10.1111/j.1467-8551.2008.00606.x.
   Web of Science ®Google Scholar
• Fallatah, Y., & Dickins, D. (2012). Corporate governance and firm performance and value in Saudi Arabia. African Journal of Business Management, 6(36), 10025–10034. doi:10.5897/AJBM12.008.
   Google Scholar
• Fama, E. F. (1980). Agency problems and the theory of the firm. Journal of Political Economy, 88(2), 288–307. doi:10.1086/260866.
   Web of Science ®Google Scholar
• Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control. The Journal of Law & Economics, 26(2), 301–325. doi:10.1086/467037
   Web of Science ®Google Scholar
• Finkelstein, S., & Hambrick, D. C. (1990). Top-management-team tenure and organizational outcomes: The moderating role of managerial discretion. Administrative Science Quarterly, 35(3), 484–503. doi:10.2307/2393314
   Web of Science ®Google Scholar
• Finkelstein, S., Hambrick, D. C., & Cannella, A. A. (2009). Strategic leadership: Theory and research on executives, top management teams, and boards. Oxford University Press.
   Google Scholar
• Francis, B., Hasan, I., & Wu, Q. (2015). Professors in the boardroom and their impact on corporate governance and firm performance. Financial Management, 44(3), 547–581. doi:10.1111/fima.12069.
   Web of Science ®Google Scholar
• García‐Meca, E., & Sánchez‐Ballesta, J. P. (2011). Firm value and ownership structure in the Spanish capital market. Corporate Governance: The International Journal of Business in Society, 11(1), 41–53. doi:10.1108/14720701111108835.
   Google Scholar
• García-Meca, E., & Pedro Sánchez-Ballesta, J. (2011). Firm value and ownership structure in the Spanish capital market. Corporate Governance: The International Journal of Business in Society, 11(1), 41–53. doi:10.1108/14/720701111108835.
   Google Scholar
• Garg, A. K. (2007). Influence of board size and Independence on firm performance: A study of Indian companies. Vikalpa, 32(3), 39–60. doi:10.1177/0256090920070304.
   Google Scholar
• Gruskin, D. C., Rosenberg, M. D., & Holmes, A. J. (2019). Relationships between depressive symptoms and brain responses during emotional movie viewing emerge in adolescence. BioRxiv, 542720.
   Google Scholar
• Hair, J. F., Jr, Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2010). SEM: An introduction. Multivariate Data Analysis: A Global Perspective, 629–686.
   Google Scholar
• Haleblian, J., & Finkelstein, S. (1993). Top management team size, CEO dominance, and firm performance: The moderating roles of environmental turbulence and discretion. Academy of Management Journal, 36(4), 844–863. doi:10.2307/256761.
   Web of Science ®Google Scholar
• Hambrick, D. C., & D’Aveni, R. A. (1992). Top team deterioration as part of the downward spiral of large corporate bankruptcies. Management Science, 38(10), 1445–1466. doi:10.1287/mnsc.38.10.1445.
   Web of Science ®Google Scholar
• Hamdan, A. M., Buallay, A. M., & Alareeni, B. A. (2017). The moderating role of corporate governance on the relationship between intellectual capital efficiency and firm’s performance: Evidence from Saudi Arabia. International Journal of Learning and Intellectual Capital, 14(4), 295–318. doi:10.1504/IJLIC.2017.087377.
   Google Scholar
• Haniffa, R., & Hudaib, M. (2006). Corporate governance structure and performance of Malaysian listed companies. Journal of Business Finance & Accounting, 33(7‐8), 1034–1062. doi:10.1111/j.1468-5957.2006.00594.x.
   Web of Science ®Google Scholar
• Hassan, M. K., & Halbouni, S. S. (2013). Corporate governance, economic turbulence and financial performance of UAE listed firms. Studies in Economics and Finance, 30(2), 118–138. doi:10.1108/10867371311325435.
   Google Scholar
• Hatum, A., & Pettigrew, A. M. (2006). Determinants of organizational flexibility: A study in an emerging economy. British Journal of Management, 17(2), 115–137. doi:10.1111/j.1467-8551.2005.00469.x.
   Web of Science ®Google Scholar
• Hausman, J. A. (1978). Specification tests in econometrics. Econometrica: Journal of the Econometric Society, 46(6), 1251–1271. doi:10.2307/1913827.
   Web of Science ®Google Scholar
• Heenetigala, K., & Armstrong, A. F. (2011). The impact of corporate governance on firm performance in an unstable economic and political environment: Evidence from Sri Lanka. In 2012 Financial markets & corporate governance conference.
   Google Scholar
• Henderson, A. D., & Fredrickson, J. W. (1996). Information-processing demands as a determinant of CEO compensation. Academy of Management Journal, 39(3), 575–606. doi:10.2307/256656.
   Web of Science ®Google Scholar
• Henry, L. A., Buyl, T., & Jansen, R. J. G. 2019a. Leading corporate sustainability : The role of top management team composition for triple bottom line performance. Business Strategy and the Environment 28: 173–184. doi:10.1002/bse.2247110.1002/bse.2247. September 2018
   Web of Science ®Google Scholar
• Henry, L. A., Buyl, T., & Jansen, R. J. G. (2019b). Leading corporate sustainability: T he role of top management team composition for triple bottom line performance. Business Strategy and the Environment, 28(1), 173–184. doi:10.1002/bse/.2247.
   Web of Science ®Google Scholar
• Hsu, W.-Y., & Petchsakulwong, P. (2010). The impact of corporate governance on the efficiency performance of the Thai non-life insurance industry. The Geneva Papers on Risk and Insurance-Issues and Practice, 35(1), S28–S49. doi:10.1057/gpp.2010.30.
   Google Scholar
• Hutzschenreuter, T., & Horstkotte, J. (2013). Performance effects of top management team demographic faultlines in the process of product diversification. Strategic Management Journal, 34(6), 704–726. doi:10.1002/smj.2035.
   Web of Science ®Google Scholar
• Ibrahim, T. K. T., & Al-Matari, E. M. (2022). The effect of governance rules application controls and the accrual basis application controls on quality of financial reporting: Applying to jouf university. Sustainability, 14(5), 1–22. doi:10.3390/su14052831.
   PubMed Web of Science ®Google Scholar
• Jackling, B., & Johl, S. (2009). Board structure and firm performance: Evidence from India’s top companies. Corporate Governance: An International Review, 17(4), 492–509. doi:10.1111/j.1467-8683.2009.00760.x.
   Web of Science ®Google Scholar
• Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323–329.
   Web of Science ®Google Scholar
• Jensen, M. C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831–880. doi:10.1111/j.1540-6261.1993.tb04022.x.
   Web of Science ®Google Scholar
• Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. doi:10.1016/0304-405X(76)90026-X.
   Web of Science ®Google Scholar
• Kang, S.-A., & Kim, Y.-S. (2011). Does earnings management amplify the association between corporate governance and firm performance? Evidence from Korea. International Business & Economics Research Journal, 10(2), 53–66.
   Google Scholar
• Kim, H. J., & Yoon, S. S. (2007). Corporate governance and firm performance in Korea. Management & Accounting Review, 6(2), 1–16. (MAR)
   Google Scholar
• Kumari, P., & Pattanayak, J. K. (2017). Linking earnings management practices and corporate governance system with the firms’ financial performance: A study of Indian commercial banks. Journal of Financial Crime, 24(2), 223–241. doi:10.1108/JFC-03-2016-0020.
   Google Scholar
• Kumar, P., & Zattoni, A. (2018). Corporate governance, boards of directors, and firm performance: Avenues for future research. Corporate Governance: An International Review, 26(6), 394–396. doi:10.1111/corg.12262.
   Web of Science ®Google Scholar
• Kyereboah-Coleman, A. (2007). Relationship between corporate governance and firm performance: An African perspective.
   Google Scholar
• La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. (2002). Investor protection and corporate valuation. The Journal of Finance, 57(3), 1147–1170. doi:10.1111/1540-6261.00457.
   Web of Science ®Google Scholar
• Lawrence, P. R., & Lorsch, J. W. (1967a). Differentiation and integration in complex organizations. Administrative Science Quarterly, 12(1), 1–47. doi:10.2307/2391211.
   Web of Science ®Google Scholar
• Lawrence, P. R., & Lorsch, J. W. (1967b). New management job: The integrator. Harvard Business Review.
   Google Scholar
• Lee, H., & Park, J. (2006b). Top team diversity, internationalization and the mediating effect of international alliances. British Journal of Management, 17(3), 195–213. doi:10.1111/j.1467-8551.2006.00501.x.
   Web of Science ®Google Scholar
• Li, L. (2011). Assessing the relational benefits of logistics services perceived by manufacturers in supply chain. International Journal of Production Economics, 132(1), 58–67. doi:10.1016/j.ijpe.2011.03.006.
   Web of Science ®Google Scholar
• Liu, Q., Mo, R., Li, X., Yang, S., Zhong, J., & Li, H. (2019). Cobalt phosphate modified 3D TiO2/BiVO4 composite inverse opals photoanode for enhanced photoelectrochemical water splitting. Applied Surface Science, 464, 544–551. doi:10.1016/j.apsusc.2018.09.118.
   Web of Science ®Google Scholar
• Mahadeo, J. D., Soobaroyen, T., & Hanuman, V. O. (2012). Board composition and financial performance: Uncovering the effects of diversity in an emerging economy. Journal of Business Ethics, 105(3), 375–388. doi:10.1007/s10551-011-0973-z.
   Web of Science ®Google Scholar
• Mangena, M., & Pike, R. (2005). The effect of audit committee shareholding, financial expertise and size on interim financial disclosures. Accounting and Business Research, 35(4), 327–349. doi:10.1080/00014788.2005.9729998.
   Google Scholar
• Mardnly, Z., Mouselli, S., & Abdulraouf, R. (2018). Corporate governance and firm performance: An empirical evidence from Syria. International Journal of Islamic and Middle Eastern Finance and Management, 11(4), 591–607. doi:10.1108/IMEFM-05-2017-0107.
   Web of Science ®Google Scholar
• Mayur, M., & Saravanan, P. (2017). Performance implications of board size, composition and activity: Empirical evidence from the Indian banking sector. Corporate Governance: The International Journal of Business in Society, 17(3), 466–489. doi:10.1108/CG-03-2016-0058.
   Web of Science ®Google Scholar
• Merino, E., Manzaneque, M., & Banegas, R. (2012). Control of directors’ compensation in spanish companies: Corporate governance and firm performance. In Davila, A., Epstein, M.J. and Manzoni, J.-F. (Ed.) Performance Measurement and Management Control: Global Issues (Studies in Managerial and Financial Accounting, (Vol. 25) (pp. 391-425). Emerald Group Publishing Ltd. https://doi.org/10.1108/S1479-3512(2012)0000025018
   Google Scholar
• Minichilli, A., Corbetta, G., & MacMillan, I. C. (2010). Top management teams in family‐controlled companies:‘familiness’,‘faultlines’, and their impact on financial performance. Journal of Management Studies, 47(2), 205–222. doi:10.1111/j.1467-6486.2009.00888.x.
   Web of Science ®Google Scholar
• Minwer Al-Rimawi, L. (2001). Jordanian, Kuwaiti and Omani securities regulation: Can they be the subject matter of a viable comparative study with EU securities regulation?(Part two). Journal of Financial Regulation and Compliance, 9(3), 253–273. doi:10.1108/eb025080.
   Google Scholar
• Mohiuddin, M., & Karbhari, Y. (2010). Audit committee effectiveness: A critical literature review. AIUB Journal of Business and Economics, 9(1), 97–125.
   Google Scholar
• Mollah, S., & Zaman, M. (2015). Shari’ah supervision, corporate governance and performance: Conventional vs. Islamic banks. Journal of Banking & Finance, 58, 418–435. doi:10.1016/j.jbankfin.2015.04.030.
   Web of Science ®Google Scholar
• Murray, M. (2001). Your career matters: Seasoned bosses hold hand in job market–now, execs with experience in new and old economies are suddenly in demand. The Wall Street Journal, 9.
   Google Scholar
• Nahar Abdullah, S. (2004). Board composition, CEO duality and performance among Malaysian listed companies. Corporate Governance: The International Journal of Business in Society, 4(4), 47–61. doi:10.1108/14720700410558871.
   Google Scholar
• Nanka-Bruce, D. (2011). Corporate governance mechanisms and firm efficiency. International Journal of Business and Management, 6(5), 28. doi:10.5539/ijbm.v6n5p28.
   Google Scholar
• Nawaz, T. (2017). Momentum investment strategies, corporate governance and firm performance: An analysis of Islamic banks. Corporate Governance: The International Journal of Business in Society, 17(2), 192–211. doi:10.1108/CG-03-2016-0052.
   Web of Science ®Google Scholar
• Nielsen, S. (2010). Top management team diversity: A review of theories and methodologies. International Journal of Management Reviews, 12(3), 301–316.
   Web of Science ®Google Scholar
• Nielsen, B. B., & Nielsen, S. (2013). Top management team nationality diversity and firm performance: A multilevel study. Strategic Management Journal, 34(3), 373–382. doi:10.1002/smj.2021.
   Web of Science ®Google Scholar
• Nuryanah, S., & Islam, S. (2011). Corporate governance and performance: Evidence from an emerging market. Malaysian Accounting Review, 10(1).
   Google Scholar
• Otman, K. A. M. (2014). Corporate governance and firm performance in listed companies in the United Arab Emirates. Victoria University.
   Google Scholar
• Papadakis, V. M., & Barwise, P. (2002). How much do CEOs and top managers matter in strategic decision‐making? British Journal of Management, 13(1), 83–95. doi:10.1111/1467-8551.00224.
   Web of Science ®Google Scholar
• Patro, S., Lehn, K., & Zhao, M. (2003). Determinants of the size and structure of corporate boards: 1935-2000. Financial Management, 38, 2009.
   Google Scholar
• Peng, M. W., Li, Y., Xie, E., & Su, Z. (2010). CEO duality, organizational slack, and firm performance in China. Asia Pacific Journal of Management, 27(4), 611–624. doi:10.1007/s10490-009-9161-4.
   Web of Science ®Google Scholar
• Pfeffer, J. (1987). A resource dependence perspective on intercorporate relations. Intercorporate Relations: The Structural Analysis of Business, 25–55.
   Google Scholar
• Que, L. H. X. (2018). Effects of financial leverage on performance of listed firms in Ho Chi minh stock exchange market. On Socio-Economic And Environmental Issues In Development, 993.
   Google Scholar
• Quinonez, P., Saenz, J., & Solorzano, J. (2018). Does foreign direct investment reduce poverty? The case of Latin America in the twenty-first century. Business & Economic Horizons, 14(3), 488–500. doi:10.15208/beh.2018.35.
   Web of Science ®Google Scholar
• Reddy, K., Locke, S., & Scrimgeour, F. (2010). The efficacy of principle-based corporate governance practices and firm financial performance: An empirical investigation. International Journal of Managerial Finance, 6(3), 190–219. doi:10.1108/17439131011056224.
   Google Scholar
• Roudaki, J. (2018). Corporate governance structures and firm performance in large agriculture companies in New Zealand. Corporate Governance (Bingley), 18(5), 987–1006.
   Web of Science ®Google Scholar
• Rouf, D. (2011). The relationship between corporate governance and value of the firm in developing countries: Evidence from Bangladesh. The International Journal of Applied Economics and Finance, 5(3), 237–244. doi:10.3923/ijaef.2011.237.244.
   Google Scholar
• Saibaba, M. D., & Ansari, V. A. (2011). Audit committees and corporate governance: A study of select companies listed in the Indian bourses. IUP Journal of Accounting Research & Audit Practices, 10(3).
   Google Scholar
• Salancik, G. R., & Pfeffer, J. (1980). Effects of ownership and performance on executive tenure in US corporations. Academy of Management Journal, 23(4), 653–664. doi:10.2307/255554.
   Web of Science ®Google Scholar
• Shah, S. Q., & Jan, R. (2014). Analysis of financial performance of private banks in Pakistan. Procedia-Social and Behavioral Sciences, 109, 1021–1025. doi:10.1016/j.sbspro.2013.12.583.
   Google Scholar
• Shao, G. (2010). The effects of board structure on media companies’ performance: A stakeholder perspective. Journal of Media Business Studies, 7(3), 1–16. doi:10.1080/16522354.2010.11073508.
   Google Scholar
• Sherman, H. (2004). Corporate governance ratings. Corporate Governance: An International Review, 12(1), 5–7. doi:10.1111/j.1467-8683.2004.00337.x.
   Web of Science ®Google Scholar
• Smith, K. G., Smith, K. A., Olian, J. D., Sims, H. P., Jr, O’Bannon, D. P., & Scully, J. A. (1994). Top management team demography and process: The role of social integration and communication. Administrative Science Quarterly, 39(3), 412–438. doi:10.2307/2393297.
   Web of Science ®Google Scholar
• Sonora, R. (2019). Income Inequality, poverty, and the rule of law: Latin America vs the rest of the world.
   Google Scholar
• Srinidhi, B. N., He, S., & Firth, M. (2014). The effect of governance on specialist auditor choice and audit fees in US family firms. The Accounting Review, 89(6), 2297–2329. doi:10.2308/accr-50840.
   Web of Science ®Google Scholar
• Swamy, V. (2011). Corporate governance and firm performance in unlisted family owned firms. International Journal of Business Insights & Transformation, 4(2).
   Google Scholar
• Tsai, M. T., Tung, W. H., & Y. Li, E. (2014). Corporate governance, resources, FDI commitment and firm performance: Empirical analyses of Taiwanese high-tech firms. Chinese Management Studies, 8(3), 313–332. doi:10.1108/CMS-08-2012-0118.
   Web of Science ®Google Scholar
• Twairesh, A. E. M. (2014). The impact of capital structure on firm’s performance evidence from Saudi Arabia. Journal of Applied Finance and Banking, 4(2), 183.
   Google Scholar
• Uadiale, O. M. (2010). The impact of board structure on corporate financial performance in Nigeria. International Journal of Business and Management, 5(10), 155.
   Google Scholar
• Vafeas, N. (2005). Audit committees, boards, and the quality of reported earnings. Contemporary Accounting Research, 22(4), 1093–1122. doi:10.1506/1QYN-2RFQ-FKYX-XP84.
   Web of Science ®Google Scholar
• Wally, S., & Becerra, M. (2001). Top management team characteristics and strategic changes in international diversification: The case of US multinationals in the European community. Group & Organization Management, 26(2), 165–188. doi:10.1177/1059601101262003.
   Web of Science ®Google Scholar
• Wang, Y., Abbasi, K., Babajide, B., & Yekini, K. C. (2019). Corporate governance mechanisms and firm performance: Evidence from the emerging market following the revised CG code. Corporate Governance (Bingley), 20(1), 158–174. doi:10.1108/CG-07-2018-0244.
   Web of Science ®Google Scholar
• Wei, L., & Wu, L. (2013). What a diverse top management team means: Testing an integrated model. Journal of Management Studies, 50(3), 389–412. doi:10.1111/joms.12013.
   Web of Science ®Google Scholar
• Wernerfelt, B. (1984). A resource‐based view of the firm. Strategic Management Journal, 5(2), 171–180. doi:10.1002/smj.4250050207.
   Web of Science ®Google Scholar
• Yasser, Q. R., Entebang, H. A., & Mansor, S. A. (2011). Corporate governance and firm performance in Pakistan: The case of Karachi Stock Exchange (KSE)-30. Journal of Economics and International Finance, 3(8), 482–491.
   Google Scholar
• Zabri, S. M., Ahmad, K., & Wah, K. K. (2016). Corporate governance practices and firm performance: Evidence from top 100 public listed companies in Malaysia. Procedia Economics and Finance, 35, 287–296. doi:10.1016/S2212-5671(16)00036-8.
   Google Scholar