Corporate governance, disclosure and firm performance: empirical findings from Malaysia


Wasiuzzaman, Shaista and Joshi, Prem Lal and Chong, Lee Lee and Nik Salleh, Nik Mohamad Zaki (2019) Corporate governance, disclosure and firm performance: empirical findings from Malaysia. Afro-Asian J. of Finance and Accounting, 9 (3). pp. 269-290. ISSN 1751-6447

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This study examines the effect of corporate governance, disclosure and firm characteristics on firm performance by taking data from the 2013 financial year annual reports of large public listed companies (based on market capitalisation) in Malaysia. Using multiple regression analysis, this study finds that the effect on firm performance, namely ROA, ROE and Tobin's Q, is different. Board size, the percentage of independent directors on the board and percentage of ownership concentration in firms have a significant negative relationship with ROA. ROE shows a significant negative association with board size, AC independence and ownership concentration. Tobin's Q only shows a significant negative relationship with board size. The findings in this study contribute to literature that good corporate governance characteristics, appropriate disclosure of corporate governance information and firm characteristics have improved the performance of listed companies in Malaysia. The study also suggests limitations and directions for future research.

Item Type: Article
Uncontrolled Keywords: Corporate governance, performance, ROI; return on equity, ROE, Tobin Q, board size, ownership concentration, disclosure.
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD2350.8-2356 Large industry. Factory system. Big business > HD2709-2930.7 Corporations. Including international business enterprises, diversification, industrial concentration, public utilities > HD2741 Holding companies. Corporate governance
Divisions: Faculty of Management (FOM)
Depositing User: Ms Suzilawati Abu Samah
Date Deposited: 09 Feb 2022 03:30
Last Modified: 09 Feb 2022 03:30


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