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Tytuł artykułu

Governance structure, corporate restructuring and performance

Treść / Zawartość
Identyfikatory
Warianty tytułu
PL
Struktura zarządzania, restrukturyzacja i wydajność korporacyjna
Języki publikacji
EN
Abstrakty
EN
The common form of corporate restructuring is the divestitures of firm’s tangible and operating assets such as plant and equipment for several motives. Furthermore, company characteristics and use of divestiture proceeds have also influence corporate performance. This study examines the effects governance structure namely board of directors structure and ownership structure specifically subsequent to completed asset restructuring scheme on firm performance for the period 2004 to 2013 of Malaysian firms.
PL
Wspólną formą restrukturyzacji korporacyjnej jest zbycie aktywów rzeczowych i operacyjnych firmy, takich jak fabryki i urządzenia, dla kilku powodów. Ponadto, na wydajność firmy mają również wpływ cechy przedsiębiorstwa i wykorzystanie wpływów zbycia. W niniejszym badaniu analizuje się strukturę zarządzania ruchomościami, a mianowicie strukturę zarządu i strukturę własności, po zakończeniu procesu restrukturyzacji aktywów w odniesieniu do wydajności malezyjskich firm w okresie od 2004 do 2013 r.
Rocznik
Strony
7--14
Opis fizyczny
Bibliogr. 25 poz., tab.
Twórcy
autor
  • School of Management, Faculty of Economics and Management, Universiti Kebangsaan, Malaysia
autor
  • School of Management, Faculty of Economics and Management, Universiti Kebangsaan Malaysia
autor
  • Faculty of Management, Multimedia University, Malaysia
Bibliografia
  • 1. Bennett M.J., 2010, Does ownership structure affect corporate performance? Evidence from the market for asset sales, “The Journal of Corporate Governance”, IX(1-2).
  • 2. Bethel J.E., Liebeskind J., 1993, The effects of ownership structure on corporate restructuring, “Strategic Management Journal”, 14.
  • 3. Bryd J.J., Hickman K.A., 1992, Do outside directors monitor managers, “Journal of Financial Economics”, 32.
  • 4. Canyon, Peck, 1998, Recent Developments in UK Corporate Governance, [In:] Buxton, Chapman, Temple (eds.), Britains Economic Performance: Routledge.
  • 5. Fama E., Jensen M.C., 1983, Separation of ownership and control, “The Journal of Law and Economics”, 26.
  • 6. Gibbs P.A., 1993, Determinants of corporate restructuring: The relative important of corporate governance, takeover threat, and free cash flow, “Strategic Management Journal”, 14.
  • 7. Gujerati D., 2003, Basic econometrics, (4th Edition), New York: McGraw Hill.
  • 8. Haniffa R., Hudaib M., 2006, Corporate governance structure and performance of Malaysian listed companies, “Journal of Business Finance and Accounting”.
  • 9. Haron R., Ibrahim K., Muhamad N., 2009, Board of directors, strategic control and corporate financial performance of Malaysian listed construction and technology companies: An empirical analysis, “The Journal of Corporate Governance”, 7(4).
  • 10. Hoskisson R.E., Turk T.A., 1990, Corporate restructuring: governance and control limits of the internal capital market, “Academy of Management Review”, 15(3).
  • 11. Kavanis N., Castaner X., 2015, Who drives corporate restructuring? Co-existing owners in French firms, “Corporate Governance: An International Review”, 23(5).
  • 12. Kiel G.C., Nicholson G.J., 2003, Board composition and corporate performance: how the Australian experience informs contrasting theories of corporate governance, “Corporate Governance: An International Review”, 11(3).
  • 13. Kiymar H., College R., 2006, The impact of announced motives, financial distress, and industry affiliation on shareholders’ wealth: Evidence from large sell-offs, “Quarterly Journal of Business and Economics”, 45(3-4).
  • 14. Lai J., Sudarsanam S., 1997, Corporate restructuring in response to performance decline: Impact of ownership, governance and lenders, “European Finance Review”, 1.
  • 15. Lee J.Y.M., Mat Nor F., Alias N., 2013, Asset divestitures and corporate operational returns: An agency theory perspective on Malaysian public-listed companies, “International Journal of Strategic Property Management”, 17(4).
  • 16. Malaysian Institute of Corporate Governance, 2001, Malaysian Code on Corporate Governance (MCCG), Kuala Lumpur, Malayan Law Journal Sdn. Bhd.
  • 17. Markides C.C., 1992, Consequences of corporate refocusing: Ex-ante evidence, “Academy of Management Journal”, 35(2).
  • 18. Markides C.C., Singh H., 1997, Corporate restructuring: A symptom of poor governance or a solution to past managerial mistakes? “European Management Journal”, 15(3).
  • 19. Mustapha M., Che Ahmad A., 2013, Blockholders and corporate monitoring costs: Evidence from Malaysia, “International Journal of Economics and Management”, 7(1).
  • 20. Ofek E., 1993, Capital structure and firm response to poor performance: An empirical analysis, “Journal of Financial Economics”, 34.
  • 21. Perry T., Shivdasani A., 2005, Do boards affect performance? Evidence from Corporate Restructuring, “Journal of Business”, 78.
  • 22. Ponnu C.H., Karthigeyan R.M., 2010, Board independence and corporate performance: Evidence from Malaysia, “African Journal of Business Management”, 4(6).
  • 23. Ravenscraft D.J., Scherer F.M., 1991, Divisional sell-off: A hazard function analysis, “Managerial and Decision Economics”, 12.
  • 24. Rosenstein S., Wyatt J.G., 1990, Outside directors, board independence, and shareholder wealth, “Journal of Financial Economics”, 26.
  • 25. Wruck K.H., 1990, Financial distress, reorganization, and organizational efficiency, “Journal of Financial Economics”, 2.
Uwagi
Opracowanie ze środków MNiSW w ramach umowy 812/P-DUN/2016 na działalność upowszechniającą naukę (zadania 2017).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-c0c4935c-122b-451f-b674-fac5c914d93f
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