The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq

Despite the well-established relationship between corporate failure and corporate governance in the agency and resource dependency theories, there are still lack of studies on corporate governance mechanisms and firm performance and absence of code for corporate governance in Iraq. Therefore, this s...

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Main Author:	Talab, Hassnain Raghib
Format:	Thesis
Language:	eng eng
Published:	2019
Subjects:	HD2709-2930.7 Corporations HD2709-2930.7 Corporations
Online Access:	https://etd.uum.edu.my/7865/1/Depositpermission_s95730.pdf https://etd.uum.edu.my/7865/2/s95730_01.pdf
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id	my-uum-etd.7865
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Abdul Manaf, Kamarul Bahrain Abdul Malak, Siti Seri Delima
topic	HD2709-2930.7 Corporations HD2709-2930.7 Corporations
spellingShingle	HD2709-2930.7 Corporations HD2709-2930.7 Corporations Talab, Hassnain Raghib The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq
description	Despite the well-established relationship between corporate failure and corporate governance in the agency and resource dependency theories, there are still lack of studies on corporate governance mechanisms and firm performance and absence of code for corporate governance in Iraq. Therefore, this study aimed to examine the relationship between characteristics of board of directors, internal audit, ownership structure, external audit and firm performance of companies listed in the Iraqi Stock Exchange. This study used secondary data from the listed companies in Iraqi Stock Exchange from 2012 to 2015. This study employed agency theory and resource dependency theory to investigate the relationship between the variables. The agency theory is concerned with the agency problem between principals and agents while the resource dependency theory deals with the critical use of the internal resources within the firms. A sample of 48 different companies across 7 different sectors was selected. This study employed STATA in running Panel Corrected Standard Error multivariate regression to test the hypotheses. The empirical investigation found positive and significant relationships between board size, board meeting, internal audit existence, internal audit training, managerial ownership, local institutional ownership, foreign institutional ownership, audit quality and firm performance and Tobin’s Q as a measure of performance. However, the results showed insignificant relationship between CEO duality, non-executive directors, and individual block shareholder and Tobin’s Q. The acceptance of most of the hypotheses through the empirical analysis underscores their necessity during the formulation of policy of corporate governance. These findings can be used as inputs in the development of a code of corporate governance in Iraq. Future research can employ comparative studies among Middle East countries to provide more robust findings that may be generalized across countries.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Talab, Hassnain Raghib
author_facet	Talab, Hassnain Raghib
author_sort	Talab, Hassnain Raghib
title	The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq
title_short	The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq
title_full	The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq
title_fullStr	The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq
title_full_unstemmed	The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq
title_sort	effect of internal corporate governance mechanisms and external auditing on firm performance in iraq
granting_institution	Universiti Utara Malaysia
granting_department	Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
publishDate	2019
url	https://etd.uum.edu.my/7865/1/Depositpermission_s95730.pdf https://etd.uum.edu.my/7865/2/s95730_01.pdf
_version_	1747828279791845376
spelling	my-uum-etd.78652021-03-24T07:33:46Z The effect of internal corporate governance mechanisms and external auditing on firm performance in Iraq 2019 Talab, Hassnain Raghib Abdul Manaf, Kamarul Bahrain Abdul Malak, Siti Seri Delima Tunku Puteri Intan Safinaz School of Accountancy (TISSA) Tunku Puteri Intan Safinaz School of Accountancy (TISSA) HD2709-2930.7 Corporations HF5667 Professional Ethics. Auditors. Despite the well-established relationship between corporate failure and corporate governance in the agency and resource dependency theories, there are still lack of studies on corporate governance mechanisms and firm performance and absence of code for corporate governance in Iraq. Therefore, this study aimed to examine the relationship between characteristics of board of directors, internal audit, ownership structure, external audit and firm performance of companies listed in the Iraqi Stock Exchange. This study used secondary data from the listed companies in Iraqi Stock Exchange from 2012 to 2015. This study employed agency theory and resource dependency theory to investigate the relationship between the variables. The agency theory is concerned with the agency problem between principals and agents while the resource dependency theory deals with the critical use of the internal resources within the firms. A sample of 48 different companies across 7 different sectors was selected. This study employed STATA in running Panel Corrected Standard Error multivariate regression to test the hypotheses. The empirical investigation found positive and significant relationships between board size, board meeting, internal audit existence, internal audit training, managerial ownership, local institutional ownership, foreign institutional ownership, audit quality and firm performance and Tobin’s Q as a measure of performance. However, the results showed insignificant relationship between CEO duality, non-executive directors, and individual block shareholder and Tobin’s Q. The acceptance of most of the hypotheses through the empirical analysis underscores their necessity during the formulation of policy of corporate governance. These findings can be used as inputs in the development of a code of corporate governance in Iraq. Future research can employ comparative studies among Middle East countries to provide more robust findings that may be generalized across countries. 2019 Thesis https://etd.uum.edu.my/7865/ https://etd.uum.edu.my/7865/1/Depositpermission_s95730.pdf text eng staffonly https://etd.uum.edu.my/7865/2/s95730_01.pdf text eng public https://sierra.uum.edu.my/record=b1699021~S1 phd doctoral Universiti Utara Malaysia Abbas, A., Naqvi, H. A., & Mirza, H. H. (2013). Impact of large ownership on firm performance: A case of non financial listed companies of Pakistan. 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