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Book Empirical Evidence on Corporate Governance Mechanisms in Malaysia

Download or read book Empirical Evidence on Corporate Governance Mechanisms in Malaysia written by Behnaz Z. Quiqley and published by . This book was released on 2012 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Impact of Internal Corporate Governance on Firm Performance

Download or read book The Impact of Internal Corporate Governance on Firm Performance written by PhD Mamun (FCMA, Syed A.) and published by . This book was released on 2017 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Internal Corporate governance refers to the controlling mechanism of various internal actors of a firm. The aim of the study is to explore the impact of internal corporate governance (CG) mechanism on firm performance in three Asian countries namely Bangladesh, Malaysia, and Singapore. Results show that Board Size, Board Independence and CEO Duality have impact on firm performance. Though the impact of CG on firm performance is significant in Singapore, the impact is not significant in Bangladesh and Malaysia. These findings of the study have significant implications to public policy makers and corporate managers to understand the evolution and effectiveness of internal CG practices in different Asian countries.

Book The Effect of Corporate Governance and Shareholder Monitoring Mechanisms on Cost of Capital

Download or read book The Effect of Corporate Governance and Shareholder Monitoring Mechanisms on Cost of Capital written by Zulkufly Ramly and published by . This book was released on 2012 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although corporate governance issues emerged with the birth of corporations, they were largely unheard of in Malaysia until the Asian financial crisis in 1997-1998. The financial crisis basically serves as the impetus for corporate governance reforms in Malaysia. The government responded to an urgent call for corporate reforms and commissioned a committee to examine the issues of corporate governance. As a result, the Malaysian Code on Corporate Governance was introduced in 2000 to serve as a benchmark for firms to follow. Much has been debated about the state of corporate governance in Malaysian listed firms but evidence to date does not present adequate empirical case that corporate governance and shareholder monitoring mechanisms lower firms' cost of capital. Prior studies in Malaysia mainly measure value creation from the perspectives of accounting and market performances. There is an emerging brand of idea that firm value can also be viewed from the perspective of the ability of the firm to benefit from a reduced cost of capital as a result of a robust corporate governance. This study investigates the effect of corporate governance and shareholder monitoring mechanisms on firms' cost of capital between 2003 and 2007 from the theoretical perspectives of debt agency cost and the traditional manager-shareholder agency cost. Quality of firm corporate governance is measured using a comprehensive corporate governance index, which is developed for this study. Shareholder monitoring mechanisms are represented by ownership concentration, family, insider and government shareholdings. Using panel data regression technique, this study finds that overall corporate governance and shareholder monitoring mechanisms have a reducing effect on both costs of equity and debt. Both equity holders and debt issuers are willing to accept lower risk premium from firms that have robust corporate governance. In terms of shareholder monitoring mechanisms, family ownership reduces cost of equity whilst ownership concentration and insider ownership lower cost of debt.

Book The Impact of Corporate Governance on Sukuk Ratings

Download or read book The Impact of Corporate Governance on Sukuk Ratings written by Othman Ibrahim A. Altwijry and published by . This book was released on 2013 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance is the system through which the companies are directed and managed. The essential role of corporate governance has been raised and discussed more recently due to the global financial crisis in 2007. In addition, Islamic finance industry has garnered attention in recent times because of its high growth, which among its central instruments is sukuk. Therefore, this study is conducted in order to investigate the impacts of corporate governance on sukuk ratings. This vital objective is achieved through the collecting of data from the corporations that are listed in the Bursa Malaysia from 2008 to 2011, and have issued sukuk during this period. Panel data analysis has been adopted for this study. The finding demonstrates that, separate board leadership structure, independent non-executive directors, smaller board size (at I 0% significance) as corporate governance mechanisms contribute to better and higher sukuk ratings. Meanwhile, in regard to ownership variables, lower proportion of director ownership and higher proportion of institutional ownership (at 5% significance) leads to higher sukuk ratings. Whereas in control variables, it is shown that the bigger the size of issued sukuk (at I% significance), the less years it takes to achieve maturity, with bigger firm size (at 10% significance), lower proportion of leverage, and less of net income amount, all of which contribute to better sukuk ratings. Lastly, all of these variables are found to be in line with the theoretical frameworks except for net income variable, which could be due to the nature of sukuk as a partnership and debt -based element, and it is contrary to the nature of bonds as a debt instrument. Finally, this finding is expected to contribute significantly in fields that concern regulators, issuers, investors, academicians as well as to the public.

Book Corporate Governance and Corporate Failures

Download or read book Corporate Governance and Corporate Failures written by Marziana bt Madah Marzuki and published by . This book was released on 2005 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Corporate Governance and Corporate Social Responsibility

Download or read book Corporate Governance and Corporate Social Responsibility written by Sabri Boubaker and published by World Scientific. This book was released on 2014-09-26 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: While emerging market economies do not have a mature market structure yet, there is a need for research on corporate governance practices in these economies from different perspectives, including corporate social responsibility. Corporate Governance and Corporate Social Responsibility: Emerging Markets Focus fills the gap with a collection of high-quality research and policy-based papers addressing these issues, using various market cases as illustrations. Unlike previous books that often focused on one or several emerging markets, this book covers a much broader set of countries and tackles ethical, legal and societal aspects of corporate governance, beyond financial issues. It also discusses how companies work towards best corporate governance practices, particularly, in the aftermath of recent financial and economic crises. Readers will benefit from the wide range of theoretical, empirical, and case analyses, selected with care to reflect cutting-edge corporate governance and corporate social responsibility issues in countries with emerging markets. Contents: Corporate Governance: Legal Framework and Codes of Best Practices: Corporate Governance Bundles for Emerging Markets (Rahul Bedi and Darshan Desai); OC GoodOCO Corporate Governance in Transformation Countries OCo A Comparison of Experts' Perceptions in East Germany, Estonia and Hungary (Thomas Steger, Ruth Alas and Klliki Tafel-Viia); Corporate Governance, Policies and Public Listing: The Case of Chinese State-owned Enterprises (Zigan Wang); Corporate Governance in Turkey: The Case of Borsa Istanbul 50 Companies (Esra Nemli Caliskan and Basak Turan Icke); Barriers to Effective Corporate Governance Reforms: Corruption and the Peculiar Case of Nigeria (Ngozi Okoye); The Brazilian Fiscal Council OCo Protecting Minority Shareholders in a Weak Legal System (Jairo Laser Procianoy and Roberto Frota Decourt); Using Market Incentives to Move Beyond Law and Regulation in Emerging Markets OCo The Case for Corporate Governance Stock Exchange Indices (Andreas Grimminger); Corporate Governance: Some Country Experiences: The Audit Committee in the EU Emerging Countries (Daniela M Salvioni, Francesca Gennari, Luisa Bosetti and Alex Almici); Great Expectations from Pension Fund Activism: Insight from Poland (Agnieszka Seomka-GoeObiowska); Ownership Structure and Directors' Compensation Disclosure in Malaysia (Elinda Binti Esa and Abdul Rahman Zahari); Corporate Governance, Performance and Liquidity Risk of West African Economic and Monetary Union (WAEMU) Banks (Alassane Ouattara, Luc Paugam and Olivier Ramond); Board Composition and Company Performance: A Study of Sub-Saharan African Countries (Gibson Munisi); Emerging Markets Banks Ownership and Performance: Evidence from China (Xiaoxi Zhang and Kevin Daly); Corporate Governance in Romania: Theories and Practices (Gheorghe N Popescu, Veronica Adriana Popescu and Cristina Raluca Popescu); Corporate Social Responsibility: Corporate Governance and Corporate Social Responsibility in Financial Institutions: Evidence from Islamic Banks (Hisham Farag); Is Corporate Governance Related to Corporate Social Responsibility? The Case of South Africa (Idoya Ferrero-Ferrero, Mar a ungeles Fernindez-Izquierdo, Mar a Jess Muoz-Torres, Juana Mar a Rivera-Lirio, Ral Len-Soriano and Elena Escrig-Olmedo); Achieving Corporate Governance and Corporate Social Responsibility in an Emerging Market through Gender Diversity on Boards in India (Sharon Ayson); Executive Compensation in Emerging Markets: Theoretical Developments and Empirical Evidence (Yongli Luo); Placing Stakeholder Theory within the Debate on Corporate Social Responsibility (Tarek Miloud); Corporate Governance and Corporate Social Responsibility Reporting: Empirical Evidence from Bangladesh (Pallab Kumar Biswas). Readership: Policymakers, professionals, academics, and graduate students in law, economics, management and finance, organizations promoting best governance practices in emerging countries, investors, as well as those interested in corporate governance, corporate finance, and business and management. Key Features: Addresses current issues and cutting-edge trends in corporate governance and corporate social responsibility within economies with emerging markets; Sheds light on how companies adopt and move towards best corporate governance practices, especially in the aftermath of recent crises; Illustrates corporate governance theories with real business cases and assesses the effects of various governance practices on corporate behavior"

Book Corporate Governance Mechanisms and Firm Performance

Download or read book Corporate Governance Mechanisms and Firm Performance written by Noor Afza Amran and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Corporate Governance and Stock Return

Download or read book The Corporate Governance and Stock Return written by Bee-Wah Grace Ooi and published by . This book was released on 2005 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Related Party Transactions and Minority Shareholder Rights

Download or read book Related Party Transactions and Minority Shareholder Rights written by OECD and published by OECD Publishing. This book was released on 2012-03-29 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The publication reviews provisions covering related party transactions and the protection of minority shareholder rights in 31 jurisdictions, both OECD and non-OECD. In addition, the regulatory and legal systems that have beeen developed in five jurisdictions are reviewed in detail.

Book Corporate Governance and Firm Performance in Malaysia

Download or read book Corporate Governance and Firm Performance in Malaysia written by Mohd Faizal Jamaludin and published by . This book was released on 2020 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the effect of internal corporate governance mechanism of Malaysian public listed firms towards firm performance. This study attempt to determine by using recent available financial data whether the internal corporate governance mechanism are expected to be effective in enhancing firm performance. The internal corporate governance investigate in this study are board independence, board meeting, board size, duality, women director appointment as well participation of family member in the boardroom. The result derived suggests that board meeting is negatively and significantly associated with firm performance while other internal corporate governance mechanism found to be insignificant in this study. Thus, it is suggested that firm with frequent board meeting most likely indicate as firm's response to the firm's poor performance.

Book Handbook of Research on Accounting and Financial Studies

Download or read book Handbook of Research on Accounting and Financial Studies written by Farinha, Luís and published by IGI Global. This book was released on 2020-03-06 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: The competitive nature of organizations in today’s globalized world has led to the development of various approaches to increasing profitability and maintaining an advantage over rival companies. As technology continues to be integrated into business practices, specifically in the area of accounting and finance, professionals and educators need to be prepared for advancing economic techniques, and they need to maintain a high level of financial literacy. The Handbook of Research on Accounting and Financial Studies is a pivotal reference source that provides vital research on advanced knowledge and emerging business practices and teaching dynamics in the fields of accounting and finance. While highlighting topics such as cost-benefit analysis, risk management, and corporate governance, this publication explores new initiatives in entrepreneurship and performance management. This book is ideally designed for business managers, consultants, entrepreneurs, auditors, tax practitioners, economists, accountants, academicians, researchers, and students seeking current research on modern advancements and recent findings in accounting and financial studies.

Book Ownership Capital Structure and Firm Performance

Download or read book Ownership Capital Structure and Firm Performance written by Timezghine Mohammed Rafik and published by . This book was released on 2014 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance in the Asian context has witnessed a critical review and investigation from scholars after the Asian Financial crisis in 1997. This is due to the negative effect of ownership structure, which is concentrated, on minority shareholders. Previous studies considered this problem and tried to propose solutions and proposals to come up with efficient corporate governance mechanism. It has been argued that environment with weak legal protection of minority shareholders and inefficient external market and financial institutions is associated with concentrated ownership structure. Literatures in this context provided contradicted arguments about the effect of concentrated ownership in ensuring efficient corporate governance practice and better firm performance. Earlier studies claimed that dispersed ownership is the most efficient structure, where recent studies argued that block holders, such as families state and foreign, showed better governance practice and better firm performance. Within this debate this study tried to contribute to the literature by evaluating the corporate governance practice in Malaysia by focusing on ownership structure and its effect on firm performance and including a new factor, capital structure, to investigate its potential effect on the governance, and taking agency theory as un underlying theoretical background to explain the relationships. Malaysian firms are characterized with concentrated ownership which provides better environment to conduct this study. Based on data collected from the top 100 largest listed companies in Bursa Malaysia, our results showed that after nearly 15 years from the Asian Financial crisis concentrated ownership is still an important component in the Malaysian firms' ownership structure. The results showed further that managerial ownership and leverage are two governance mechanisms which are not used efficiently in governance. Panel Data analysis showed that ownership structure has different relationships with firm performance measurements, negative with the market based measurement (Tobin's Q), and positive with accounting based measurement (ROA), which indicate for potential expropriation of minority shareholders; where managerial ownership recoded negative relationships with both measurements. Foreign and state ownership have positive association with firm value, but state ownership is insignificant, whilst all ownership types are positively related with profitability. By including leverage as a moderating variable the results showed that moderating effect is significant and implies that leverage should be considered as an efficient corporate governance mechanism to ensure better performance and low agency problem.