Ownership Structure, Firm Value and Growth Opportunities: Malaysian Evidence

被引：2

作者：

Abdullah, Nik Anis Idayu Nik ^{[1
]}

Ali, Mazurina Mohamad ^{[1
]}

Haron, Noor Hasniza ^{[1
]}

机构：

[1] UiTM Selangor, Fac Accountancy, Kampus Puncak Alam, Bandar Puncak Alam 42300, Selangor, Malaysia

来源：

ADVANCED SCIENCE LETTERS | 2017年 / 23卷 / 08期

关键词：

Managerial Ownership; Institutional Ownership; Firm Value; Growth Opportunity; Corporate Governance; CORPORATE GOVERNANCE; PERFORMANCE; MANAGEMENT;

D O I：

10.1166/asl.2017.9479

中图分类号：

O [数理科学和化学]; P [天文学、地球科学]; Q [生物科学]; N [自然科学总论];

学科分类号：

07 ; 0710 ; 09 ;

摘要：

Using a sample of 240 listed companies on the main board of Bursa Malaysia in 2013, this paper investigates the relationship between managerial and ownership structures with the firm's value as well as the moderating effect of growth opportunities on the relationship between ownership structure and firm's value. It is postulated that managerial and institutional ownership has a significant relationship with the firm value. However, the result does not support our hypotheses which applies that there could be other elements that control the behavior of managers in influencing the value of the companies. On the other hand, the moderation effect of growth opportunities have significant positive relationship with firm value which is consistent with the hypotheses developed.

引用

页码：7378 / 7382

页数：5

共 40 条

[1] Identifying the effect of managerial control on firm performance [J].

Adams, RB ;

Santos, JAC .

JOURNAL OF ACCOUNTING & ECONOMICS, 2006, 41 (1-2) :55-85

[2]

Alan C., 2005, INT J BUSINESS GOVER, V1, P350

[3]

Alonso Pablode Andres., 2005, Applied Financial Economics, V15, P391

[4]

Amran NA, 2013, ASIAN J ACCOUNT GOV, V4, P51

[5]

Asher M.G., 2001, J FINANCIAL REGULATI, V9, P30

[6] OWNERSHIP STRUCTURE AND VOTING ON ANTITAKEOVER AMENDMENTS [J].

BRICKLEY, JA ;

LEASE, RC ;

SMITH, CW .

JOURNAL OF FINANCIAL ECONOMICS, 1988, 20 (1-2) :267-291

[7]

Chen, 1999, FINANCIAL REV, V34, P119

[8]

Davies H., 2005, J CORP FINANC, V11, P19

[9] Institutional ownership stability and the cost of debt [J].

Elyasiani, Elyas ;

Jia, Jingyi ;

Mao, Connie X. .

JOURNAL OF FINANCIAL MARKETS, 2010, 13 (04) :475-500

[10]

Garcia-Meca, 2011, CORPORATE GOVERNANCE, V11, P41

← 1 2 3 4 →