Corporate governance, ownership structure and corporate diversification: Evidence from the Malaysian listed companies
Previous research has contributed much to our understanding of the relationship between corporate diversification strategy and corporate governance quality. The majority of published works has been on sophisticated and mature markets in first world nations. This paper extends previous knowledge by e...
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my.uum.repo.103612014-04-15T08:54:47Z http://repo.uum.edu.my/10361/ Corporate governance, ownership structure and corporate diversification: Evidence from the Malaysian listed companies Che Ahmad, Ayoib Ishak, Zuaini Abdul Manaf, Nor Aziah HF5601 Accounting Previous research has contributed much to our understanding of the relationship between corporate diversification strategy and corporate governance quality. The majority of published works has been on sophisticated and mature markets in first world nations. This paper extends previous knowledge by examining this relationship in a developing country. Malaysia is a developing country that provides a rich setting for corporate governance research.The structure of the business environment and the availability of published data make it an interesting research site.The results showed that outside blockholding especially non-institutional blockholding was negatively associated with diversification.However, evidence of significant relationship between managerial ownership and diversification was not found although the directions were generally as expected.Similarly, good corporate governance was shown to reduce diversification activities.The variable for separate board structure was consistently significant in most of the estimations.However, the other measure of corporate governance namely the proportion of outside directors was not as significant as might be expected. The study opens the way for a richer understanding of the links between corporate governance, ownership structure and corporate diversification in a developing country. Penerbit Universiti Sains Malaysia 2003-07 Article PeerReviewed application/pdf en http://repo.uum.edu.my/10361/1/ACA5.pdf Che Ahmad, Ayoib and Ishak, Zuaini and Abdul Manaf, Nor Aziah (2003) Corporate governance, ownership structure and corporate diversification: Evidence from the Malaysian listed companies. Asian Academy of Management Journal, 8 (2). pp. 67-89. ISSN 1394-2603 http://web.usm.my/aamj/default.html |
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HF5601 Accounting Che Ahmad, Ayoib Ishak, Zuaini Abdul Manaf, Nor Aziah Corporate governance, ownership structure and corporate diversification: Evidence from the Malaysian listed companies |
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Previous research has contributed much to our understanding of the relationship between corporate diversification strategy and corporate governance quality. The majority of published works has been on sophisticated and mature markets in first world nations. This paper extends previous knowledge by examining this relationship in a developing country. Malaysia is a developing country that provides a rich setting for corporate governance research.The structure of the business environment and the availability of published data make it an interesting research site.The results showed that outside blockholding especially non-institutional blockholding was negatively associated with diversification.However, evidence of significant relationship between managerial ownership and diversification was not found although the directions were generally as expected.Similarly, good corporate governance was shown to reduce diversification activities.The variable for separate board structure was consistently significant in most of the estimations.However, the other measure of corporate governance
namely the proportion of outside directors was not as significant as might be expected. The study opens the way for a richer understanding of the links between corporate governance, ownership structure and corporate diversification in a developing country. |
format |
Article |
author |
Che Ahmad, Ayoib Ishak, Zuaini Abdul Manaf, Nor Aziah |
author_facet |
Che Ahmad, Ayoib Ishak, Zuaini Abdul Manaf, Nor Aziah |
author_sort |
Che Ahmad, Ayoib |
title |
Corporate governance, ownership structure and corporate diversification: Evidence from the
Malaysian listed companies |
title_short |
Corporate governance, ownership structure and corporate diversification: Evidence from the
Malaysian listed companies |
title_full |
Corporate governance, ownership structure and corporate diversification: Evidence from the
Malaysian listed companies |
title_fullStr |
Corporate governance, ownership structure and corporate diversification: Evidence from the
Malaysian listed companies |
title_full_unstemmed |
Corporate governance, ownership structure and corporate diversification: Evidence from the
Malaysian listed companies |
title_sort |
corporate governance, ownership structure and corporate diversification: evidence from the
malaysian listed companies |
publisher |
Penerbit Universiti Sains Malaysia |
publishDate |
2003 |
url |
http://repo.uum.edu.my/10361/1/ACA5.pdf http://repo.uum.edu.my/10361/ http://web.usm.my/aamj/default.html |
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1644280344826871808 |
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13.149126 |