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
More filters
Journal ArticleDOI
The Role of Institutional Investors in the Inventory and Cash Management Practices of Firms in Asia
TL;DR: In this paper, the role of a particular class of institutional investors, domestic and foreign banks, in corporate decisions that have liquidity implications such as inventory and cash management was examined, and the research findings have implications for board structure and corporate governance standards.
Journal Article
Impact of Corporate Governance on Performance of Banking Sector in Malaysia
TL;DR: In this paper, the impact of corporate governance characteristics specially board of directors and audit committee on performance of Malaysian banking sector is examined and the results show that corporate governance mechanisms do influence the bank performance, by referring to this result, we hope that banks try to implement the right corporate governance system and policies until they can reduce probability of failure and bankruptcy and can also increase reliability for investors and investments.
Corporate Governance Mechanisms and Financial Performance of Commercial Banks in Kenya
TL;DR: In this paper, the impact of corporate governance mechanisms (audit committee size, board gender diversity and board size) on banks' profitability based on the annual reports of forty two banks in Kenya in the period 2014.
Journal ArticleDOI
The impact of social media presence and board member composition on new venture success: Evidences from VC-backed U.S. startups
Peter A. Gloor,Andrea Fronzetti Colladon,Francesca Grippa,Beth Marie Hadley,Stephanie L. Woerner +4 more
TL;DR: It is found that startups with more venture capitalists on the board and whose board members are active on Twitter attract additional funding over the years, though they do not generate additional sales.
Journal ArticleDOI
Corporate Governance and Its Impact on Firm Risk
TL;DR: In this article, the authors explore the relationship of corporate governance with firm risk and establish a link between corporate governance variables and firm risk for a sample of 106 Pakistani firms over a time of six years (2005-2010).
References
More filters
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.
Journal ArticleDOI
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.
Journal ArticleDOI
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.
Journal ArticleDOI
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.
Journal ArticleDOI
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.