Tun Yin Li^1♣, 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