MANAGEMENT AND ACCOUNTING REVIEW

 


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Volume 23 No. 1, April 2024

 

ARTICLE INFO
Article History:
Received: 31 December 2023
Accepted: 01 January 2024
Available online: 01 April 2024

MANAGEMENT AND ACCOUNTING REVIEW, VOLUME 23 NO. 1, APRIL 2024

Panel Data Analysis on the Impact of Corporate Governance on Firm Performance: Evidence from Bursa Malaysia Companies with Good CG Disclosures


Tun Yin Li1♣, Low Suet Ching, Shubatra Shanmugaretnam and Beverly Teh Boon Gaik

Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman, Selangor,
Malaysia



ABSTRACT

Using Panel Data Analysis, this research investigated the performance of the firm from the top 100 companies with good CG disclosures (2019) on Bursa Malaysia against corporate governance mechanisms. The study period was 2013 – 2019. Firm performance was measured using Earnings per share (EPS), Tobin Q (TQ) and Return on Equity (ROE) while corporate governance mechanisms were CEO Duality (CDUAL), Board Size (BSIZE), Independent Directors (BIND), Board Meetings (BMEET), Women Directors (WOMD), Foreign Qualifications’ Directors (FORD). Little evidence was recorded for the period under the study. CDUAL was only significant with ROE, BSIZE was significant with EPS & ROE, BIND was significant with TQ & ROE, BMEET significant with TQ & ROE. WOMD significant with TQ & ROE, FORD was only significant with EPS. Results indicated the companies with good CG disclosures do not correspond with firm performance. Much more CG compliance needs to be done to improve firm performance.


Keywords: Corporate Governance, Company Performance, Top 100 Good CG Disclosures Companies, Bursa Malaysia
Corresponding Author: Tun Yin Li; Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman, Selangor, Malaysia; Email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Tel: +60122718899

 

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