Corporate governance and financial performance of public listed companies: Pre and post implementation of the Malaysian code of corporate governance-Reference-Cited by-同舟云学术

Corporate governance and financial performance of public listed companies: Pre and post implementation of the Malaysian code of corporate governance

Published:2013 Issue:4 Volume:10 Page:355-376
ISSN:1810-3057
Container-title:Corporate Ownership and Control
language:en
Short-container-title:COC

Author:

Lim Kwee Pheng,Ismail Hishammudin,Eze Uchena Cyril

Abstract

This study examine the impact of corporate governance and ownership structures on firm performance of 293 companies listed on the Main and Second Board of Bursa Malaysia six-years before and after the implementation of Malaysian Code of Corporate Governance (MCCG) in 2001. Institutional and foreign shareholdings were found to be significantly associated with both market and accounting performance measures before and after implementation of MCCG, implying their positive roles on performance. Contrary to the recommendation by MCCG, role duality (positions of Chairman and CEO were the same person) was observed to be negatively related to accounting performance measures but in the opposite direction for market performance measures. The result is robust with respect to controls for firm size and gearing.

Publisher

Virtus Interpress

Subject

General Business, Management and Accounting

Link

https://virtusinterpress.org/IMG/pdf/10-22495_cocv10i4c3art6.pdf

Reference126 articles.

1. Abdul Samad, F. (2002). Ownership Structure in the Malaysian Corporation Sector: Its Impact on Corporate Governance, Performance, Financing and Investment Patterns, Institute for Development Policy and Management. Working Paper (University of Manchester).

2. Abdul Wahab, E. A., How, J. & Verhoeven, P. (2008). Corporate Governance and Institutional Investors: Evidence from Malaysia. Asian Academy of Management Journal of Accounting and Finance, 4(2), 67-90.

3. Abdullah, S. N. (2006). Directors‘ remuneration, firm‘s performance and corporate governance in Malaysia among distressed companies. Corporate Governance, 6(2), 582-594.

4. Ali Yrkko & Nyberg, M. (2005). Foreign ownership in Finland boosting firm performance and changing corporate governance. Cambridge: Cambridge University Press.

5. Anderson, R. C. & Reeb, D. M. (2003). Founding family ownership and firm performance: Evidence from the S and P 500. The Journal of Finance, 58(3), 1301-1328.

Cited by 1 articles. 订阅此论文施引文献订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献

1. A critical review of corporate governance reforms in Malaysia;Journal of Governance and Regulation;2017