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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Impact of corporate governance and ownership on business performance: A case study of Vietnam
TL;DR: In this article , the authors investigated the impact of corporate governance and ownership on business performance in listed firms on the Vietnamese stock exchange and employed the general regression method (GLS) with a sample of 506 listed firms in the period 2008-2020.
Journal ArticleDOI
An investigation of board directors’ absence and its determinants in the malaysian stock market
Mohammad Refakar,Ming-Ming Lai +1 more
TL;DR: In this article, the authors examined the relation between directors' absence in board meetings as an indicator of directors' busyness with possible determinants of director absence on the constituent companies of FTSE Bursa Malaysia KLCI index from 2005 to 2008.
Journal Article
Capital Structure, Board Size and Firm Performance: Evidence from Jordan
Ahmad A. Al-Naimi,Laith Fouad Alshouha,Raed Kanakriyah,Riyad Al-Hindawi Mohammad Awad Alnaimi +3 more
TL;DR: In this article, the effect of boar size on the relationship between capital structure and financial performance of companies is investigated. But the authors focus on an important issue that has received little attention in previous studies.
Journal ArticleDOI
Board Effectiveness and Firm Value: A Mediating Role of Stock Liquidity
TL;DR: In this article , an effective board index (EBI) using board size, board independence, board diversity and CEO duality was introduced to test the relationship between effective board and firm value.
Journal ArticleDOI
Corporate governance parameters and their impact on enterprise performance
TL;DR: In this article , the authors used a sample of S&P CNX Nifty 50 Index enterprises, excluding banking and financial services enterprises, during the period of FY2012-2013 to FY2018-2019.
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.