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Ownership structure and firm performance in Malaysia


Kamardin, Hasnah and Abdul Latif, Rohaida and Taufil Mohd, Kamarun Nisham (2016) Ownership structure and firm performance in Malaysia. In: International Conference on Accounting Studies (ICAS) 2016, 15-18 August 2016, Langkawi, Kedah, Malaysia.

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Abstract

The aim of the study is to investigate the effect of different type of ownership structure on firm performance proxied by market measure (market to book value, MTBV) based on companies listed on Bursa Malaysia in the year 2006 to 2010. Firm performance in this study is proxied by market measure (market to book value, MTBV). Results of the study indicate that director ownership and foreign ownership have non-linear relationship with MTBV using quadratic function. While family ownership and ownership by government-linked investment companies have linear relationship. Director ownership has negative relationship which indicate the entrenchment effect at the lower stake.However, director ownership has positive relationship meaning the alignment effect occurs at the higher stake. However, foreign ownership has alignment effect at the lower stake and entrenchment effect at the higher stake. Government-linked investment companies has negative relationship.The findings of the study add to the ownership structure literature in the concentrated ownership market.

Item Type: Conference or Workshop Item (Paper)
Additional Information: ISBN 978-967-0910-27-7 Organized by: Institute for Strategic and Sustainable Accounting Development (ISSAD), Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia
Uncontrolled Keywords: Director ownership, family ownership, government ownership, foreign ownership, firm performance, Malaysia
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User: Dr. Hasnah Kamardin
Date Deposited: 01 Feb 2017 02:34
Last Modified: 01 Feb 2017 02:34
URI: http://repo.uum.edu.my/id/eprint/20807

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