مقاله انگلیسی رایگان در مورد تاثیر توانایی مدیریتی بر عملکرد شرکت و نقش واسطه گر ساختار سرمایه – اسپرینگر 2021

 

مشخصات مقاله
ترجمه عنوان مقاله تاثیر توانایی مدیریتی بر عملکرد شرکت و نقش واسطه گر ساختار سرمایه: شواهدی از تایوان
عنوان انگلیسی مقاله The efects of managerial ability on frm performance and the mediating role of capital structure: evidence from Taiwan
انتشار مقاله سال 2021
تعداد صفحات مقاله انگلیسی  23 صفحه
هزینه دانلود مقاله انگلیسی رایگان میباشد.
پایگاه داده نشریه اسپرینگر
نوع نگارش مقاله
مقاله پژوهشی (Research article)
مقاله بیس این مقاله بیس میباشد
نمایه (index) DOAJ – JCR – Master Journal List – Scopus
نوع مقاله ISI
فرمت مقاله انگلیسی  PDF
ایمپکت فاکتور(IF)
3.632 در سال 2020
شاخص H_index 18 در سال 2021
شاخص SJR 0.536 در سال 2020
شناسه ISSN 2199-4730
شاخص Quartile (چارک) Q2 در سال 2020
فرضیه دارد، بخش Literature review and hypotheses development صفحه 3
مدل مفهومی دارد، تصویر 1 صفحه 11
پرسشنامه ندارد
متغیر دارد، جدول 4 صفحه 13
رفرنس دارد
رشته های مرتبط مدیریت
گرایش های مرتبط مدیریت عملکرد، مدیریت مالی
نوع ارائه مقاله
ژورنال
مجله / کنفرانس نوآوری مالی – Financial Innovation
دانشگاه Canadian University Dubai, Dubai, United Arab Emirates
شناسه دیجیتال – doi
https://doi.org/10.1186/s40854-021-00320-7
کد محصول E16114
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Abstract

Introduction

Literature review and hypotheses development

Methodology and data

Empirical results

Conclusion

Research implications

Availability of data and materials

References

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Abstract

This study utilizes mediation analysis and bootstrapping to analyze the mediating effect of capital structure on the association between managerial ability and firm performance. The dataset consists of 6384 firm-year observations from the Taiwanese electronics industry during 2005–2018. Our results indicate that (1) low (high) levels of debt are likely observed in firms with CEOs with high (low) ability, (2) managerial ability positively affects firm performance, and (3) capital structure mediates the positive relationship between managerial ability and firm performance. Overall, the findings may have limited generalizability due to the specific sample characteristics and provide convincing support for the importance of capital structure as a mediator in the managerial ability-firm performance nexus. Specifically, this study highlights the need for examining the effect of managerial ability on firm performance through a mediator.

Introduction

In today’s fast-changing business climate, only focusing on the direct effect of managerial ability on firm performance may not fully reflect a manager’s ability to sustain competitive advantage. The current gap in the literature that links managerial ability to capital structure or firm performance, does so inadequately. Notably, although the literature shows that managerial ability has only unobservable effects on capital structure (Matemilola et al. 2013), there is less empirical evidence to show how it affects firm performance except for Ford and Shonkwiler (1994) and Wang et al. (2021). As a result, the association between managerial ability and firm performance may be considered spurious in the absence of a mediator. Thus, a study on the effect of managerial ability on firm performance via the role of a mediator is needed.

Additionally, literature has extensively examined the factors of corporate decision-making, including capital structure (Chen 2004; Chen et al. 2019; Huang et al. 2018; Klasa et al. 2018; Matemilola et al. 2019; Vo 2017) and firm performance (Hansen and Wernerfelt 1989; Hui et al. 2019; Huselid et al. 1997; Kafouros and Aliyev 2016; Liljeblom et al. 2019). A firm’s capital structure evidences managers’ abilities and affects profitability. According to the pecking order theory (Myers and Majluf 1984), if a company is profitable, it has retained earnings or cash for financing. Similarly, capital structure is a key factor in firm performance (Saeedi and Mahmoodi 2011). This is confirmed by agency theory (Jensen and Meckling 1976). Moreover, while managerial ability may explain a company’s debt level, Hackbarth (2008) suggests an association between managerial traits and capital structure decisions. Managers might have the ability, but their impact on firm performance may be indirect and operating through other variables such as capital structure. This mediating effect has not been investigated in the literature; hence, our study fills a much-needed gap.

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