Agric. Econ. - Czech, 2019, 65(3):123-132 | DOI: 10.17221/228/2018-AGRICECON

Non-linear relationships among related party transactions, financial characteristics, corporate governance, and corporate value - Analysis of high-growth and low-growth food firmsOriginal Paper

Joe-Ming Lee*
Department of Applied Economics, Fo Guang University, Yilan County, Taiwan

This paper empirically investigates the relationship between related party transactions, financial characteristics, and corporate governance on the corporate value in Taiwan's food industry during 2008-2017. The results show that non-linear relationships among related party transactions, financial characteristics, corporate governance, and corporate value. This study recommends to low-growth food firms that they should strengthen the power of their financial performance and corporate governance.

Keywords: corporate governance; financial characteristics; firm growth; non-linear models; related party transactions

Published: March 31, 2019  Show citation

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
Lee J. Non-linear relationships among related party transactions, financial characteristics, corporate governance, and corporate value - Analysis of high-growth and low-growth food firms. Agric. Econ. - Czech. 2019;65(3):123-132. doi: 10.17221/228/2018-AGRICECON.
Download citation

References

  1. Aguilera R.V., Judge W.Q., Terjesen S.A. (2018): Corporate governance deviance. Academy of Management Review, 43: 87-109. Go to original source...
  2. Azad A.M.S., Raza A., Zaidi S.S.Z. (2018): Empirical relationship between operational efficiency and profitability (Evidence from Pakistan exploration sector). Journal of Accounting, Business and Finance Research, 2: 7-11. Go to original source...
  3. Cook D.O., Kieschnick R.L., Moussawi R. (2018): The effects of operating lease expenses on the pricing of corporate stocks and bonds. Working Paper.
  4. Das S. (2018): Analysis of cash flow ratios: A study on CMC. Accounting, 4: 41-52. Go to original source...
  5. González A., Teräsvirta T., van Dijk D.V. (2005): Panel smooth transition regression models. Working Paper Series in Economics and Finance, Stockholm School of Economics, 604.
  6. McConnell J.J., Servaes H. (1995): Equity ownership and the two faces of debt. Journal of Financial Economics, 39: 131-157. Go to original source...
  7. Mutlu C.C., Van Essen M., Peng M.W., Saleh S.F., Duran P. (2017): Corporate governance in China: A meta-analysis. Journal of Management Studies, 55: 943-979. Go to original source...
  8. Kohlbeck M., Lee H.S., Mayhew B., Salas J.M. (2017): The influence of family firms on related party transactions and associated valuation implications. Working paper. Florida Atlantic University, Fordham University, University of Wisconsin - Madison, and Lehigh University. Go to original source...
  9. Licht A.N. (2018): Be Careful What You Wish For: How progress engendered regression in related party transaction regulation in Israel. European Corporate Governance Institute (ECGI), Law Working Paper (382). Go to original source...
  10. Schiavo S., Vaona A. (2007): Nonparametric and semiparametric evidence on the long-run effects of inflation on growth. Economics Letters 94, 452-458. Go to original source...
  11. Singh S., Tabassum N., Darwish T.K., Batsakis G. (2018): Corporate governance and Tobin's Q as a measure of organizational performance. British Journal of Management, 29: 171-190. Go to original source...
  12. Taiwan Economic Journal (TEJ) (2018): Taiwan Economic Journal database. Taiwan Economic Journal Co. Ltd. Available at http://www.finasia.biz/ensite/Database/tabid/92/language/en-US/Default.aspx
  13. Omay T., Kan Ö.E. (2010): Re-examining the threshold effects in the inflation-growth nexus with cross sectionally dependent nonlinear panel: Evidence from six industrializes economies. Economic Modelling, 27: 996-1005. Go to original source...
  14. Owusu A., Weir C. (2018): Agency costs, ownership structure and corporate governance mechanisms in Ghana. International Journal of Accounting, Auditing and Performance Evaluation, 14: 63-84. Go to original source...
  15. Yung I., Long W. (2009): Fraud risk factor of the fraud triangle assessing the likelihood of fraudulent financial reporting. Journal of Business & Economics Research, 7: 63-78.

This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International (CC BY NC 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.