Determinants of characteristics of top executive management effect on firm performance in the financial sector: Panel data approach

Resumen

According to the major role of top management advocated throughout the years in investment support and assurance, enhancing economic progress and development, the present paper presents evidence of the executive management role in Oman in terms of the firms’ achievement of performance goals. Therefore, the paper examines the relationship between top executive management characteristics of Omani firms and their performance, with three control variables. The study targets Oman, owing to its unique characteristics, being a developing nation, and the period focused on encompasses the years from 2011-2017. The FGLS regression was employed specifically to test the top executive management characteristics effect on the performance of Omani firms. On the basis of the results, there are positive and significant relationships between general experience and account experience from the characteristics, and the performance of the firms. The findings have implications to market managers in light of enhancing the weaknesses in corporate governance.