世界経済・社会統計 = World development indicators

This paper describes the correlations between inequality and the growth rates in cross-country data. Using non-parametric methods, we show that the growth rate is an inverted U-shaped function of net changes in inequality: Changes in inequality (in any direction) are associated with reduced growth in the next period. The estimated relationship is robust to variations in control variables and estimation methods. This inverted U-curve is consistent with a simple political economy model, although, as we point out, efforts to interpret this model causally run into difficult identification problems. We show that this non-linearity is sufficient to explain why previous estimates of the relationship between the level of inequality and growth are so different from one another.

Inequality and Growth: What Can the Data Say?

The main purpose of this study was to review the measurements that are related to the corporate governance. A close look at the literature of corporate governance and firm performance reveals that different measures have been used by the researchers to measure the performance. They classified those measurements into accounting-based and market-based indicators. Performance measurement has great significance in effective management of an organization and in the enhancement of the processes since only measurable things is manageable. Hence, the enhancement of the organizational performance requires some measurements to determine the impact of the level of organizational effectiveness upon business performance. This study can act as a reference to the researchers who are concerned with the firm performance measurements.

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The Measurements of Firm Performance's Dimensions

Between 1947 and 1974, income growth was distributed fairly evenly among households in various income groups. However, income inequality has increased over the past 30 or so years. Since the mid-1970s, real income growth for households at the 95th percentile of the distribution has grown at a pace nearly 3/2 times that of households at the 20th percentile. A similar pattern holds between men and women. The Gini coefficient (lower-left chart), a more complete measure of income inequality, considers the entire income distribution. It indicates that income inequality is rising overall. One explanation holds that the increasing disparity of income in the U.S. over the past 30 years results from skill-biased technological change that has benefited higher-skilled workers. The skill-biased hypothesis asserts that technology improvements boost the productivity (and hence the income) of skilled labor by more than it does the unskilled. Since the 1980s, demand for skilled labor has kept pace with the relatively greater supply of skilled workers (as estimated by the rising proportion of college-educated workers), exerting upward pressure on wages for higher-skilled workers. Since the early 1980s, the average real wage has risen roughly 30% for male college graduates and nearly 50% for males with a postgraduate degree. 0 25 50 75 100 125

Income Inequality : Understanding the Needs of Economically Disadvantaged Children and Families

Drawing on prior theoretical and empirical research examining corporate governance mechanisms, this study empirically explores the effects of institutional and government ownership on the performance of firms listed on the Kuwait Stock Exchange (KSE). Both a market-based measure (Tobin’s Q) and an accounting-based measure (ROA) are used to measures firm performance. Based on a sample of 134 firms listed on the KSE in the year 2010, regression analysis results show a positive relationship between institutional investors and KSE firm performance, suggesting the powerful and influential role institutional investors play as a corporate governance mechanism. In contrast, a negative relationship is observed between government ownership and KSE firm performance, implying worse market performance when government ownership exists. The findings imply that different types of ownership structures have different affects on firm performance. Some ownership structures enhance performance while others worsen performance.

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The Influence of Institutional and Government Ownership on Firm Performance: Evidence from Kuwait

The study examines the relationship of corporate governance mechanisms and performance between family and non-family ownership of public-listed firm in Malaysia from 1999 through 2005 as measured by Tobin’s Q, ROA and ROE. The findings show that on average, family ownership experiences a higher value than non-family ownership based on ROE. On the other hand, based on Tobin’s Q and ROA, the study finds that firm value is lower in family than non- family ownership. In addition, the corporate governance mechanisms such as the board size, independent director and duality for family and non-family ownership has a strong significant influence on firm performance.

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Corporate Governance Mechanisms and Performance of Public-Listed Family-Ownership in Malaysia

We compare corporate governance and performance between family and non-family ownership of public listed companies in Malaysia from 1999 through 2005 measured by Tobin’s Q and ROA. We also examine the governance mechanisms as a tool in monitoring agency costs based on asset utilization ratio and expense ratio as proxy for agency costs. We find that on average firm value is lower in family firms than non-family firms, while board size, independent director and duality have a significant impact on firm performance in family firms as compared to non-family firms. We also find that these governance mechanisms have significant impact on agency costs for both family and non-family firms.

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Agency costs, corporate governance mechanisms and performance of public listed family firms in Malaysia

This study compares the performance of the Syariah Index (SI) and the Composite Index (CI) of the Kuala Lumpur Stock Exchange (KLSE) during the period April 1999 to January 2002. Both the raw and risk-adjusted returns were calculated for the indices for the whole and two subperiods. Results based on the raw returns revealed that generally, the KLSE SI and CI recorded the same level of returns. Tests using performance measures of Adjusted Sharpe Index, Treynor Index and Adjusted Jensen Alpha revealed that there were also no significant difference in the (risk-adjusted) performance of both indices. We therefore conclude that Syariah-approved stocks were not more favourable than the other stocks in the KLSE.

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A study of performance of the KLSE Syariah Index

E-HRM provides the HR function with the opportunity to create new avenues for contributing to organizational effectiveness. The topic of E-HRM is certainly not becoming obsolete, and its full potential is still anticipated and therefore academic involvement in the topic needs to grow. Besides, there has been a great deal of research on Technology Acceptance Model (TAM) in Malaysia. Less attention is given to examine the relationship between HR roles (strategic partner, change agent, employee champion, and administrative expert) and E-HRM by adoption of TAM. This paper intended to contribute to the Malaysian literature pertaining to this subject. Based on a review of extant literature on E-HRM, HR roles, and TAM, a model is presented and propositions outlined for future empirical testing.

	 

	Key words: E-HRM, HR roles, strategic partner, change agent, employee champion, administrative expert, technology acceptance model (TAM).

E-HRM: A proposed model based on technology acceptance model

This paper explores the insight and perspective of family ownership in the context of emerging market. By highlighting the various definitions of family ownership, this conceptual approach thoroughly scrutinize the pro and cons of family ownership. Indeed, the vast literatures of family ownership has been compiled which revealed the significance of family firms throughout the world and in Malaysia. Thus, the development of family business in Malaysia has contributed in producing numbers of tycoons with their respective business field. In this paper, 40 richest families have been highlighted in Malaysia who has been instrumental in shaping the corporate scene. These millionaires have joined the list which in return undeniably contributed towards Malaysian economic growth. The contribution of family firms is indispensable and their roles are getting significant from time to time.

Haslindar Ibrahim

Papers

Corporate Governance Mechanisms and Performance of Public-Listed Family-Ownership in Malaysia

Agency costs, corporate governance mechanisms and performance of public listed family firms in Malaysia

A study of performance of the KLSE Syariah Index

E-HRM: A proposed model based on technology acceptance model

Family business in emerging markets: The case of Malaysia