|
| |
Total Requests 0 Unsatisfied Requests 0
|
|
You searched Library Catalogue - Title: 101 easy-to-do auto repairs
|
|
Call Number (WOU)
|
SP CEMBA 2017 91
|
|
Author
|
Choong, Siew Ling
|
|
Title
|
Impact of the revised code of corporate governance on firm performance : evidence from Malaysian Public-Listed companies / Choong Siew Ling
|
|
Abstract
|
The purpose of this study is to investigate the impact of corporate governance practices and firm performance following the revised code of MCCG 2012. The study examines whether quantitatively the legal and regulatory bodies of CG intervention and corporate reform would improve the financial performance of Malaysian Listed Companies and its level of compliance on MCCG. Two sets of data cover 282 observations in pre-code (Year 2010 to 2011) and 572 observations in post-code (Year 2013 to 2016) which using stratified random sampling method are examined in the study. The study is based on cross-sectional and time series data, the panel regression data analyses under Fixed Effect Model (FEM). The study shows the revised code brings a minimal impact on firm performance. The findings revealed CEO Duality and the proportion of shares held by institutional investors found to have a significant and negative in relation to firm performance. The high degree of female representation on board has a favorable impact on EPS. However, the mixed results found in association with Tobin’s Q. Board dominated by independent directors bring an inverse impact on ROE and EPS. Leverage and company size, as control variables, were found consistently influencing firm performance in before and after of code amendment. Finally, the study also suggested to reinforce the separate leadership structure could perform better and discourage the “one-hat” approach. The findings show there are still cases of non-compliance of the requirement of at least 2 or one-third of INEDS on board. Firms are encouraged to increase the presence of female directors on board in comply to the requirement of MCCG 2017 as well to enhance firm performance as reflected in the finding of the study. Due to the time and data permitting, the research is only consider seven variables. The other variables such as committees’ characteristics, remuneration and board characteristics could be explored in the future studies. Future research could consider performing the semi-structured approach which combine personal interview with company or could explore the Corporate Governance Index (CGI) measurement. The evidence provides insights of the implications of legal and regulatory interventions on the association of corporate governance attributes and firm performance. This is also importance to regulators, government, investors, academics and others. This study is expected to add to the growing literature on the benefits of corporate governance and the code in pre and post context on company performance.
|
|
Notes
|
Final project report submitted in partial fulfilment of the requirements for the Degree of Master of Business Administration (CeMBA)
|
|
Publisher/Year
|
Penang : School of Business and Administration, Wawasan Open University, 2017
|
|
Subject
|
Governance, Corporate.
|
|
|