کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5092994 | 1376106 | 2007 | 24 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The Impact of the Malaysian Code on Corporate Governance: Compliance, Institutional Investors and Stock Performance
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار، مدیریت و حسابداری (عمومی)
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: The Impact of the Malaysian Code on Corporate Governance: Compliance, Institutional Investors and Stock Performance The Impact of the Malaysian Code on Corporate Governance: Compliance, Institutional Investors and Stock Performance](/preview/png/5092994.png)
چکیده انگلیسی
In 2001, the Malaysian Code on Corporate Governance (MCCG) became an integral part of the Bursa Malaysia Listing Rules, which requires all listed firms to disclose the extent of compliance with the MCCG. Our panel analysis of 440 firms from 1999 to 2002 finds that corporate governance reform in Malaysia has been successful, with a significant improvement in governance practices. The relationship between ownership by the Employees Provident Fund (EPF) and corporate governance has strengthened during the period subsequent to the reform, in line with the lead role taken by the EPF in establishing the Minority Shareholders Watchdog Group. The implementation of MCCG has had a substantial effect on shareholders' wealth, increasing stock prices by an average of about 4.8%. Although there is no evidence that politically connected firms perform better, political connections do have a significantly negative effect on corporate governance, which is mitigated by institutional ownership.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Contemporary Accounting & Economics - Volume 3, Issue 2, December 2007, Pages 106-129
Journal: Journal of Contemporary Accounting & Economics - Volume 3, Issue 2, December 2007, Pages 106-129
نویسندگان
Effiezal A. Abdul Wahab, Janice C.Y. How, Peter Verhoeven,