Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms

This study investigates the relationship between types of ownership structure and firm performance and capital structure of Malaysian IPOs firms. 80 sample firms listed on the main board of Bursa Malaysia for the years 2004 until 2009 is utilized. this study examines how ownership structure affects...

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Main Author:	Khairini, Baharudin
Format:	Thesis
Language:	eng eng
Published:	2010
Subjects:	HD2709-2930.7 Corporations
Online Access:	https://etd.uum.edu.my/2681/1/Khairini_Baharudin.pdf https://etd.uum.edu.my/2681/2/1.Khairini_Baharudin.pdf
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id	my-uum-etd.2681
record_format	uketd_dc
spelling	my-uum-etd.26812013-07-24T12:17:17Z Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms 2010-10-18 Khairini, Baharudin Ghazali, Zahiruddin College of Business (COB) College of Business HD2709-2930.7 Corporations This study investigates the relationship between types of ownership structure and firm performance and capital structure of Malaysian IPOs firms. 80 sample firms listed on the main board of Bursa Malaysia for the years 2004 until 2009 is utilized. this study examines how ownership structure affects the performance and capital structure of 80 Malaysian IPOs firms in 2004, 2005 and 2006. This study determines the impact of ownership structure on market performance and accounting performance using as proxies Tobin's q and Return on Assets (ROA). Then, this study tested the family ownership related to capital structure using the financial leverage. Both ownership concentration variables are found to be positively and statistically significant in influencing dividends in every type of dividend model. The finding is consistent with agency theory since high dividend payments can be used for mitigating agency conflict as dividends can be substituted for shareholder monitoring. Hence, large shareholders have strong incentives to require higher dividend payments in order to reduce monitoring costs. Nevertheless, this study shows that performance and capital structure of Malaysian firms are not influenced at all by the structure of ownership. 2010-10 Thesis https://etd.uum.edu.my/2681/ https://etd.uum.edu.my/2681/1/Khairini_Baharudin.pdf application/pdf eng validuser https://etd.uum.edu.my/2681/2/1.Khairini_Baharudin.pdf application/pdf eng public http://lintas.uum.edu.my:8080/elmu/index.jsp?module=webopac-l&action=fullDisplayRetriever.jsp&szMaterialNo=0000768460 masters masters Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Ghazali, Zahiruddin
topic	HD2709-2930.7 Corporations
spellingShingle	HD2709-2930.7 Corporations Khairini, Baharudin Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms
description	This study investigates the relationship between types of ownership structure and firm performance and capital structure of Malaysian IPOs firms. 80 sample firms listed on the main board of Bursa Malaysia for the years 2004 until 2009 is utilized. this study examines how ownership structure affects the performance and capital structure of 80 Malaysian IPOs firms in 2004, 2005 and 2006. This study determines the impact of ownership structure on market performance and accounting performance using as proxies Tobin's q and Return on Assets (ROA). Then, this study tested the family ownership related to capital structure using the financial leverage. Both ownership concentration variables are found to be positively and statistically significant in influencing dividends in every type of dividend model. The finding is consistent with agency theory since high dividend payments can be used for mitigating agency conflict as dividends can be substituted for shareholder monitoring. Hence, large shareholders have strong incentives to require higher dividend payments in order to reduce monitoring costs. Nevertheless, this study shows that performance and capital structure of Malaysian firms are not influenced at all by the structure of ownership.
format	Thesis
qualification_name	masters
qualification_level	Master's degree
author	Khairini, Baharudin
author_facet	Khairini, Baharudin
author_sort	Khairini, Baharudin
title	Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms
title_short	Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms
title_full	Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms
title_fullStr	Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms
title_full_unstemmed	Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms
title_sort	ownership structure, firm performance and capital structure of malaysia listed firms
granting_institution	Universiti Utara Malaysia
granting_department	College of Business (COB)
publishDate	2010
url	https://etd.uum.edu.my/2681/1/Khairini_Baharudin.pdf https://etd.uum.edu.my/2681/2/1.Khairini_Baharudin.pdf
_version_	1747827404050530304

Ownership Structure, Firm Performance and Capital Structure of Malaysia Listed Firms

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