Corporate Governance Mechanisms and Performance of Public-Listed Family-Ownership in Malaysia

Haslindar Ibrahim, Fazilah Abdul Samad

Abstract


The study examines the relationship of corporate governance mechanisms and performance between family and non-family ownership of public-listed firm in Malaysia from 1999 through 2005 as measured by Tobin’s Q, ROA and ROE. The findings show that on average, family ownership experiences a higher value than non-family ownership based on ROE. On the other hand, based on Tobin’s Q and ROA, the study finds that firm value is lower in family than non- family ownership. In addition, the corporate governance mechanisms such as the board size, independent director and duality for family and non-family ownership has a strong significant influence on firm performance.


Full Text: PDF DOI: 10.5539/ijef.v3n1p105


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International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)

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{"cc_re__cc_re__cc_by_3_0": [" non- family ownership. In addition, the corporate governance mechanisms such as the board size, independent director and duality for family and non-family ownership has a strong significant influence on firm performance.</p></div>\n\t\t<br />\n\t\t</div>\n\t\n\t\n\t\n\t\t\t\t\n\t\t\tFull Text:\n\t\t\t\t\t\t\t\t\t<a href=\"http://ccsenet.org/journal/index.php/ijef/article/view/7975/6608\" class=\"file\" target=\"_parent\">PDF</a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span style=\"padding-left:10px;\">DOI:</span> 10.5539/ijef.v3n1p105\n\t\n\n\n\n<br /><br />\n\t\t<a target=\"_new\" rel=\"license\" href=\"http://creativecommons.org/licenses/by/3.0/\">\n\t\t\t<img alt=\"Creative Commons License\" style=\"border-width:0\" src=\"http://i.creativecommons.org/l/by/3.0/80x15.png\"/>\n\t\t</a>\n\t\t<br/>\n\t\tThis work is licensed under a <a rel=\"license\" target=\"_new\" href=\"http://creativecommons.org/licenses/by/3.0/\">Creative Commons Attribution 3.0  License</a>.\n\n\n<br /><br />\n<p>International Journal of Economics and Finance\u00a0 ISSN\u00a0 1916-971X (Print) ISSN\u00a0 1916-9728 (Online)</p><p>Copyright \u00a9 Canadian Center of Science and Education</p><p>To make sure that you", ">\n\t\n\t\n\t\n\t\t\t\t\n\t\t\tFull Text:\n\t\t\t\t\t\t\t\t\t<a href=\"http://ccsenet.org/journal/index.php/ijef/article/view/7975/6608\" class=\"file\" target=\"_parent\">PDF</a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span style=\"padding-left:10px;\">DOI:</span> 10.5539/ijef.v3n1p105\n\t\n\n\n\n<br /><br />\n\t\t<a target=\"_new\" rel=\"license\" href=\"http://creativecommons.org/licenses/by/3.0/\">\n\t\t\t<img alt=\"Creative Commons License\" style=\"border-width:0\" src=\"http://i.creativecommons.org/l/by/3.0/80x15.png\"/>\n\t\t</a>\n\t\t<br/>\n\t\tThis work is licensed under a <a rel=\"license\" target=\"_new\" href=\"http://creativecommons.org/licenses/by/3.0/\">Creative Commons Attribution 3.0  License</a>.\n\n\n<br /><br />\n<p>International Journal of Economics and Finance\u00a0 ISSN\u00a0 1916-971X (Print) ISSN\u00a0 1916-9728 (Online)</p><p>Copyright \u00a9 Canadian Center of Science and Education</p><p>To make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.</p>\n</div><!-- content -->\n</div><!-- main -->\n</div><!-- bo"], "copyright__copyright__copyright": ["on firm performance.\n\n\nFull Text: PDF DOI: 10.5539/ijef.v3n1p105\n\n\nThis work is licensed under a Creative Commons Attribution 3.0 License.\n\nInternational Journal of Economics and Finance\u00a0 ISSN\u00a0 1916-971X (Print) ISSN\u00a0 1916-9728 (Online)\n\nCopyright \u00a9 Canadian Center of Science and Education\n\nTo make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.", "on firm performance.\n\n\nFull Text: PDF DOI: 10.5539/ijef.v3n1p105\n\n\nThis work is licensed under a Creative Commons Attribution 3.0 License.\n\nInternational Journal of Economics and Finance\u00a0 ISSN\u00a0 1916-971X (Print) ISSN\u00a0 1916-9728 (Online)\n\nCopyright \u00a9 Canadian Center of Science and Education\n\nTo make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.", "on firm performance.\n\n\nFull Text: PDF DOI: 10.5539/ijef.v3n1p105\n\n\nThis work is licensed under a Creative Commons Attribution 3.0 License.\n\nInternational Journal of Economics and Finance\u00a0 ISSN\u00a0 1916-971X (Print) ISSN\u00a0 1916-9728 (Online)\n\nCopyright \u00a9 Canadian Center of Science and Education\n\nTo make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.", "on firm performance.\n\n\nFull Text: PDF DOI: 10.5539/ijef.v3n1p105\n\n\nThis work is licensed under a Creative Commons Attribution 3.0 License.\n\nInternational Journal of Economics and Finance\u00a0 ISSN\u00a0 1916-971X (Print) ISSN\u00a0 1916-9728 (Online)\n\nCopyright \u00a9 Canadian Center of Science and Education\n\nTo make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders."]}