Journal ArticleDOI
Size really matters: Further evidence on the negative relationship between board size and firm value
Y.T. Mak,Yuanto Kusnadi +1 more
TLDR
In this article, the authors examined the impact of corporate governance mechanisms on the firm value of Singapore and Malaysia firms (as measured by Tobin's Q) and found that there is an inverse relationship between board size and firm value in both countries.Abstract:
This study examines the impact of corporate governance mechanisms on the firm value of Singapore and Malaysia firms (as measured by Tobin's Q ) We find little evidence of relationships between most corporate governance mechanisms and Tobin's Q However, consistent with Yermack [Higher market valuation of firms with a small board of directors J Financ Econ 40 (1996), 185–211] and Eisenberg et al [Larger board size and decreasing firm value in small firms J Financ Econ 48 (1998), 35–54], we find that there is an inverse relationship between board size and firm value in both countries This suggests that the negative relationship between board size and firm value transcends different corporate governance systemsread more
Citations
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The development of corporate governance literature in Malaysia: a systematic literature review and research agenda
TL;DR: In this article , a comprehensive review of the existing literature on corporate governance (CG) aspects of the Malaysian market is presented, which offers insights into the phases of Malaysian CG, identifies crucial gaps in the literature and outlines an agenda for impending research.
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The implications of the revised code of corporate governance on firm performance: A longitudinal examination of Malaysian listed companies
TL;DR: In this paper, the impact of corporate governance and ownership structure attributes on firm performance following the revised code on corporate governance in Malaysia is examined by examining two data sets consisting of before (2006) and after (2008-2010).
Journal ArticleDOI
Detecting corporate misconduct through random forest in China’s construction industry
TL;DR: Wang et al. as mentioned in this paper developed a random forest (RF) model to fulfill the variable importance ranking and corporate misconduct prediction, which was built on the data of 953 observations from 93 Chinese construction companies in 2000-2018.
Journal ArticleDOI
Do Board Characteristics Impact Firm Performance? An Agency and Resource Dependency Theory Perspective:
TL;DR: In this paper, the authors investigated the relationship between various board characteristic measures, such as, board composition, board size, and board composition and composition, from the perspective of agency and resource dependency theory.
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Board Compensation, Corporate Governance, and Firm Performance in Indonesia
TL;DR: In this paper, the determinants of board compensation in a developing economy that adopts a two-tier board structure system are examined and empirical evidence that profitability, firm size, and the number of board members are positively associated with compensation level.
References
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Journal ArticleDOI
Management Ownership and Market Valuation: An Empirical Analysis
TL;DR: This article investigated the relationship between management ownership and market valuation of the firm, as measured by Tobin's Q. In a 1980 cross-section of 371 Fortune 500 firms, they found evidence of a significant nonmonotonic relationship.
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The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems
TL;DR: The last two decades indicate corporate internal control systems have failed to deal effectively with these changes, especially slow growth and the requirement for exit as mentioned in this paper, which is a major challenge for Western firms and political systems as these forces continue to work their way through the worldwide economy.
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Higher market valuation of companies with a small board of directors
TL;DR: In this paper, the authors present evidence consistent with theories that small boards of directors are more effective, using Tobin's Q as an approximation of market valuation, and find an inverse association between board size and firm value in a sample of 452 large U.S. industrial corporations.
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Additional evidence on equity ownership and corporate value
John J. McConnell,Henri Servaes +1 more
TL;DR: The authors investigated the relation between Tobin's Q and the structure of equity ownership for a sample of 1,173 firms for 1976 and 1,093 firms for 1986 and found a significant curvilinear relation between Q and common stock owned by corporate insiders.
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The separation of ownership and control in east asian corporations
TL;DR: The authors examined the separation of ownership and control for 2,980 corporations in nine East Asian countries and found that voting rights frequently exceed cash-ow rights via pyramid structures and cross-holdings.