Mohammad Ahmad Alqam

This study explores the relevance of corporate governance mechanisms in determining audit quality, with a specific focus on the moderating role of firm performance in the Jordanian industrial sector. Audit quality is essential for ensuring transparency and accountability in financial reporting, making this analysis highly relevant for stakeholders aiming to strengthen corporate governance. The study sample included 64 manufacturing companies listed on the Amman Stock Exchange for the study period (2014–2022), with a total of 474 firm-year observations. The regression analysis is used to investigate the study hypotheses, including the key variables related to corporate governance, board performance, and audit quality. The findings show that company size has a significant positive effect on audit quality. There is no significant impact of CEO duality, independent directors, and ownership concentration on audit quality within the Jordanian industrial sector. The R² value of 0.067 indicates that approximately 6.7% of the variance in audit quality is explained by the study variables, while the F-value of 6.633, with a significance level of 0.00, suggests that the overall model is statistically significant, even though the explanatory power is relatively low. The study shows that company size is important to improve audit quality; other governance mechanisms may not have the same impact in the Jordanian industrial sector.

The objective of this study is to examine the relationship between corporate governance and intellectual capital within Jordanian manufacturing firms. This study used a sample of Jordanian manufacturing firms and applied regression analysis to test the effects of board size, executive director duality, percentage of independent directors, and ownership concentration on intelligence capital performance. Thus, 64 Jordanian listed manufacturing firms represent the study sample for the study period (2014–2022). The study employs advanced statistical methods to evaluate how these governance mechanisms affect intellectual capital, including human, structural, and relational capital. The study results indicate that the board size and CEO duality had no significant impact on intellectual capital performance. A positive significant determinant is the firm performance measured by earnings per share with a coefficient estimate of 6.331 at p-value <0.0. The significant positive effect of firm performance on intellectual capital performance indicates that financial health is an important driver of intellectual capital utilization. Good firms are likely to have more resources to invest in human capital, technology, and innovation, which are necessary components of intellectual capital. Future research should continue to explore these dynamics across different contexts to inform more effective governance and management practices.

Type of the article: Research Article

Abstract
In emerging markets, understanding the dynamics of share price volatility is essential for corporate financial management and investor decision-making. The industrial sector often experiences price movements that may be influenced by companies’ financial policies. This research investigates the impact of dividend policy on share price volatility, with a focus on the moderating role of the debt ratio. The research draws on a balanced panel dataset of 64 Jordanian industrial firms listed on the Amman Stock Exchange during the period 2015–2023.
Using panel regression models, the findings reveal a statistically significant negative association between both dividend yield and payout ratio with share price volatility. Specifically, a 1% increase in dividend yield is associated with a 0.42% reduction in volatility (p < 0.01), while a 1-point increase in the payout ratio reduces volatility by approximately 0.31% (p < 0.05). In addition, the debt ratio significantly moderates these relationships, which reduces the stabilizing impact of dividends in highly leveraged firms. The high interaction term between dividend yield and debt ratio was confirmed by the positive interaction term between dividend yield and debt ratio. These findings highlight the importance of balanced dividend and leverage strategies in reducing stock market risk, which may improve market stability.

Acknowledgment(s)
This research was funded through the annual funding track by the Deanship of Scientific Research, from the vice presidency for graduate studies and scientific research, King Faisal University, Saudi Arabia [Grant No. KFU253003].