Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?

This paper examines the relationship between chief executive officers (CEO) ownership, governmental control and firm performance as well as the moderating effect of government-linked companies (GLCs) on the relationship between CEO ownership and firm performance in Malaysian listed companies. Using...

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Main Authors:	Irene, Wei Kiong Ting, Noor Azlinna, Azizan, Qian, Long Kweh
Format:	Article
Language:	English
Published:	Inderscience Enterprises Ltd. 2015
Subjects:	T Technology (General)
Online Access:	http://umpir.ump.edu.my/id/eprint/10099/ http://umpir.ump.edu.my/id/eprint/10099/ http://umpir.ump.edu.my/id/eprint/10099/ http://umpir.ump.edu.my/id/eprint/10099/1/Does%20CEO.pdf

id	ump-10099
recordtype	eprints
spelling	ump-100992018-05-02T03:30:50Z http://umpir.ump.edu.my/id/eprint/10099/ Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance? Irene, Wei Kiong Ting Noor Azlinna, Azizan Qian, Long Kweh T Technology (General) This paper examines the relationship between chief executive officers (CEO) ownership, governmental control and firm performance as well as the moderating effect of government-linked companies (GLCs) on the relationship between CEO ownership and firm performance in Malaysian listed companies. Using an unbalanced panel data for the period from 2003 to 2010, this study develops two ordinary least squares regression models. The main findings of the analysis indicate that CEO ownership and governmental control have significantly positive impacts on Tobin's Q. Our result also reveals that governmental control as moderating variable has strengthened the relationship between CEO ownership and performance. The results support the agency theory (Jensen and Meckling, 1976) which argues that agency conflict arises because of the managers' self-interest behaviour. Managers may have personal goals that compete with the owner's goal in maximising shareholders' wealth. Inderscience Enterprises Ltd. 2015 Article PeerReviewed application/pdf en http://umpir.ump.edu.my/id/eprint/10099/1/Does%20CEO.pdf Irene, Wei Kiong Ting and Noor Azlinna, Azizan and Qian, Long Kweh (2015) Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance? Journal for International Business and Entrepreneurship Development, 8 (3). pp. 268-280. ISSN 1747-6763 https://doi.org/10.1504/JIBED.2015.070800 DOI: 10.1504/JIBED.2015.070800
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Pahang
building	UMP Institutional Repository
collection	Online Access
language	English
topic	T Technology (General)
spellingShingle	T Technology (General) Irene, Wei Kiong Ting Noor Azlinna, Azizan Qian, Long Kweh Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?
description	This paper examines the relationship between chief executive officers (CEO) ownership, governmental control and firm performance as well as the moderating effect of government-linked companies (GLCs) on the relationship between CEO ownership and firm performance in Malaysian listed companies. Using an unbalanced panel data for the period from 2003 to 2010, this study develops two ordinary least squares regression models. The main findings of the analysis indicate that CEO ownership and governmental control have significantly positive impacts on Tobin's Q. Our result also reveals that governmental control as moderating variable has strengthened the relationship between CEO ownership and performance. The results support the agency theory (Jensen and Meckling, 1976) which argues that agency conflict arises because of the managers' self-interest behaviour. Managers may have personal goals that compete with the owner's goal in maximising shareholders' wealth.
format	Article
author	Irene, Wei Kiong Ting Noor Azlinna, Azizan Qian, Long Kweh
author_facet	Irene, Wei Kiong Ting Noor Azlinna, Azizan Qian, Long Kweh
author_sort	Irene, Wei Kiong Ting
title	Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?
title_short	Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?
title_full	Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?
title_fullStr	Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?
title_full_unstemmed	Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?
title_sort	does ceo ownership matter in malaysian government-controlled firms' performance?
publisher	Inderscience Enterprises Ltd.
publishDate	2015
url	http://umpir.ump.edu.my/id/eprint/10099/ http://umpir.ump.edu.my/id/eprint/10099/ http://umpir.ump.edu.my/id/eprint/10099/ http://umpir.ump.edu.my/id/eprint/10099/1/Does%20CEO.pdf
first_indexed	2023-09-18T22:09:21Z
last_indexed	2023-09-18T22:09:21Z
_version_	1777414922924195840

Does CEO Ownership Matter in Malaysian Government-controlled Firms' Performance?

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