Firm Performance and Family Related Directors: Empirical Evidence from an Emerging Market
作者: Hafezali Iqbal Hussain Azlan Ali Hassanudin Mohd Thas Thaker Mohsin Ali
刊名: The Contemporary Economics, 2019, Vol.13 (2), pp.187-204
来源数据库: University of Finance and Management
原始语种摘要: Abstract(#br)Board composition is central to the worldwide corporate governance reforms that have taken place in recent years. The strong emphasis on director independence and board leadership is now part of all corporate governance regimes, including the regimes which has been introduced in Malaysia. It is the effectiveness of such provisions in the Malaysian business environment that provides the motivation for this paper. The literature shows mixed findings on the issues of board independence and board leadership. Our paper studies the role of directors with family connections and its impact on financial outcomes. We find that firms with a high presence of family related directors exhibit superior accounting profitability. However, such dominance is negatively viewed by the market...
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  • governance 统治方式
  • market 市场
  • corporate 法人的
  • profitability 盈利能力
  • expropriation 没收
  • investor 客商
  • wealth 财产
  • accounting 会计
  • Malaysia 马来西亚
  • leadership 指挥