CEO Duality, Managerial Ownership, Large Shareholders, and Firm Performance: An Analysis Using Panel Data Approaches

Abstract

This paper aims to examine the impact of corporate governance mechanisms on the performance of the firm. The study's sample comprises 42 companies from industrial sectors listed on the Amman Stock Exchange (ASE). Data was collected from the yearly financial reports spanning from 2011 to 2021, resulting in 462 observations over the years. The study hypotheses were tested using Stata statistical software. The study utilizes multiple regression panel data analysis as the primary analytical method. The impacts were tested using Generalised Least Square (GLS) Random Effects models, a statistical technique. The research revealed that having a CEO duality and having large shareholders have a negative impact on a company's performance, whereas managerial ownership has a positive effect.