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Ownership Structure, External Audit and Firm Performance in Iraq


Talab, Hassnain Raghib and Abdul Manaf, Kamarul Bahrain and Abdul Malak, Siti Seri Delima (2018) Ownership Structure, External Audit and Firm Performance in Iraq. SocialScience and Humanities Journal, 2 (2). pp. 343-352. ISSN 2456-2653

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Abstract

This study investigated the influence of corporate governance mechanisms on firm performance of public listed companies in Iraq.Specifically, the study examined the effect of managerial ownership, ownership concentration (block ownership, local institutional ownership, and foreign institutional ownership), and external audit on firm performance.The study utilized data extracted from the annual report of public listed companies on the Iraqi Stock Exchange over the period 2012 – 2015. The result revealed a positive and significant relationship between managerial ownership and firm performance.While it was found that block ownership does not have any relationship with firm performance. Local institutional ownership, foreign institutional ownership, and external audit have a negative and significant relationship with firm performance. This implies that managerial ownership improves firms performance while block ownership, local institutional ownership, and foreign institutional ownership and likewise external audit are not effective tools in improving firm performance. The findings of this study have implications on the policy-making that are meant to reconcile the difference between agent and principal.

Item Type: Article
Uncontrolled Keywords: Firm performance, Iraq, ownership structure, and external audit.
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User: Mrs. Norazmilah Yaakub
Date Deposited: 15 Mar 2018 01:34
Last Modified: 15 Mar 2018 01:34
URI: http://repo.uum.edu.my/id/eprint/23649

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