%0 Monograph %A Amran, Noor Afza %G English %T Towards CLCS transformation program: Top management characteristics and firm performance %U http://repo.uum.edu.my/12787/1/Noor.pdf %U http://repo.uum.edu.my/12787/ %X The Government-Linked Companies Transformation (GLCT) Programme began in 2004, aims to transform Government-Linked Companies (GLCs) into highperforming entities and helps accelerate the country’s social and economic development.In order to ensure the successfulness of this initiative, the roles of top management (CEO and Chairman) of the GLCs are essentials.Thus, this study is carried out to investigate whether the top management roles and attributes enhance the performance of GLCs and non-GLCs in Malaysia. Corporate governance variables (board size and board independence) and CEO/Chairman attributes (education level, professional qualification, age, gender, background as government servant or politician, insider or outsider of the firm and multiple directorships) are hypothesized to have relationship with GLCs and non-GLCs performance. The study covered a period of 2005-2009 for 54 GLCs and matched-pair 54 Non-GLCS listed on Main Board of Bursa Malaysia.The regression results show there is no difference between the role of CEO or Chairman and firm performance (both Tobin’s Q and ROA) for both GLCs and NGLCs. It is also evidenced that board size does not have relationship with firm performance. However, board independence has negative association with firm’s ROA. CEO attributes (professional qualification, age and inside appointment) are having negative relationship with GLCs performance. Nevertheless, no relationship is found for similar Chairman’s attributes.Further, Chairman of GLCs with political background/ government servant is negatively related to firm performance.Overall, it is suggested the appointment of CEOs of GLCs are critical and more sensitive towards firm performance as compared to the Chairman.Further research on the qualitative aspects of the CEO/Chairman attributes potentially will provide further insights about the reasons behind of the findings.