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CEO duality, board independence, corporate governance and firm performance in family firms: evidence from the manufacturing industry in Malaysia

Goh, Chin Fei and Md. Rasli, Amran and Khan, Saif Ur Rehman (2014) CEO duality, board independence, corporate governance and firm performance in family firms: evidence from the manufacturing industry in Malaysia. Asian Business and Management, 13 (4). pp. 333-357. ISSN 1472-4782

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Official URL: http://dx.doi.org/10.1057/abm.2014.4

Abstract

In this study, we use the contestability exercised by non-dominant large shareholders to measure how internal governance mechanisms influence firm monitoring in a structure with multiple large shareholders. This extends knowledge of principal-principal conflicts and family business by introducing the moderating effects of Chief Executive Officer (CEO) duality and board independence. Using a sample of Malaysian manufacturing family firms, we find that non-dominant large shareholders rely on board independence to strengthen firm monitoring. However, family owners do not utilise CEO duality to weaken the monitoring of non-dominant large shareholders, even though they prioritise firm control to safeguard family interests.

Item Type:Article
Uncontrolled Keywords:board independence, ceo duality, control contestability, family firms principal-principal conflicts
Subjects:H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:Management
ID Code:52073
Deposited By: Siti Nor Hashidah Zakaria
Deposited On:01 Feb 2016 11:52
Last Modified:30 Nov 2018 15:00

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