کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5102337 1479849 2017 34 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Does a Muslim CEO matter in Shariah-compliant companies? Evidence from Malaysia
ترجمه فارسی عنوان
آیا مدیر عامل مسلمان در شرکت های سازگار با شریعت اهمیت دارد؟ شواهد از مالزی
کلمات کلیدی
کارایی، شرکت های شرعی، مدیر عامل، مسلمان، پنل اطلاعات،
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
This paper investigates the role of Muslim CEOs on the performance of Malaysian Shariah firms. Based on firm-level data from Bursa Malaysia from 2007 to 2013, we find no statistical difference between the performance of Shariah and non-Shariah firms; however, firms with Muslim CEOs do show lower performance levels relative to firms with non-Muslim CEOs. We further examine a sub-sample of the results for firms with widely held shareholder bases and inactive board members and find an obvious increase in the negative effect of Muslim CEOs under these two scenarios. Focusing on Shariah firms, we investigate whether a Muslim owner, Muslim chairman and Muslim-dominated board of directors facilitate the negative effects of Muslim CEOs. No supporting evidence is documented under a return on assets (ROA) model, but a Muslim-dominated board of directors is found to facilitate the negative effects of a Muslim CEO under a stock-return model in a robust analysis. Finally, we investigate whether a degree of the ownership concentration, a degree of board activeness and a degree of board independence moderates the negative effects of Muslim CEOs. We document consistently positive effects of ownership concentration on Muslim CEOs under an ROA as well as all other performance models.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Pacific-Basin Finance Journal - Volume 42, April 2017, Pages 126-141
نویسندگان
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