The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives

The ever challenging environment in the globalization era, has led Government Linked Companies (GLCs) to adapt various business strategies in their effort to become more efficient. The involvement of Malaysian government as the key player in economic activities does not help the GLCs to be more comp...

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Main Author:	Vikniswari, Vija Kumaran
Format:	Thesis
Language:	eng eng
Published:	2016
Subjects:	HC Economic History and Conditions
Online Access:	https://etd.uum.edu.my/6193/1/s94002_01.pdf https://etd.uum.edu.my/6193/2/s94002_02.pdf
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id	my-uum-etd.6193
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Abdullah, Hussin Hussin, Fauzi
topic	HC Economic History and Conditions
spellingShingle	HC Economic History and Conditions Vikniswari, Vija Kumaran The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives
description	The ever challenging environment in the globalization era, has led Government Linked Companies (GLCs) to adapt various business strategies in their effort to become more efficient. The involvement of Malaysian government as the key player in economic activities does not help the GLCs to be more competent especially when the agenda is being politicised. Furthermore, GLCs are currently facing problems in terms of profit and management that affect their overall level of efficiency. Research on GLCs’ competency to overcome the challenges in the business world is still insufficient. Thus, this study aims to investigate the effects of internal and macroeconomic factors that could positively improve the technical efficiency of GLCs. Hence, the objective of this study is to examine the impact of macroeconomic and internal factors on the efficiency of 17 top listed GLCs under G20. In addition, this study also analyses the role of the government as an interaction terms in affecting the technical efficiency of GLCs. Stochastic Frontier Analysis (SFA) is used to identify the technical efficiency score of GLCs followed by the Fixed and Random Effects and Fully Modified Ordinary Least Squares (FMOLS). The results from this study reveal that the internal factors such as the revenue, financial capital, government ownership, firm size and return on assets and macroeconomic factors such as GDP, infrastructure, unemployment, trade openness, inflation rate and real interest rate, show a significant impact on the GLS’s technical efficiency. The study recommends government involvement as an interaction terms to improve GLC’s efficiency. In terms of policy, the government should play a greater role in providing a stable macroeconomic environment, making rational decisions and establishing more international economic linkages through GLCs. It also indicates that policy-makers should act in accordance with good governance based on GLCs’ performance and development.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Vikniswari, Vija Kumaran
author_facet	Vikniswari, Vija Kumaran
author_sort	Vikniswari, Vija Kumaran
title	The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives
title_short	The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives
title_full	The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives
title_fullStr	The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives
title_full_unstemmed	The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives
title_sort	technical efficiency of government linked companies (glcs): internal and macroeconimic perspectives
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2016
url	https://etd.uum.edu.my/6193/1/s94002_01.pdf https://etd.uum.edu.my/6193/2/s94002_02.pdf
_version_	1747828035492511744
spelling	my-uum-etd.61932021-12-08T03:21:41Z The technical efficiency of government linked companies (GLCs): Internal and macroeconimic perspectives 2016 Vikniswari, Vija Kumaran Abdullah, Hussin Hussin, Fauzi School of Economics, Finance & Banking School of Economics, Finance and Banking HC Economic History and Conditions The ever challenging environment in the globalization era, has led Government Linked Companies (GLCs) to adapt various business strategies in their effort to become more efficient. The involvement of Malaysian government as the key player in economic activities does not help the GLCs to be more competent especially when the agenda is being politicised. Furthermore, GLCs are currently facing problems in terms of profit and management that affect their overall level of efficiency. Research on GLCs’ competency to overcome the challenges in the business world is still insufficient. Thus, this study aims to investigate the effects of internal and macroeconomic factors that could positively improve the technical efficiency of GLCs. Hence, the objective of this study is to examine the impact of macroeconomic and internal factors on the efficiency of 17 top listed GLCs under G20. In addition, this study also analyses the role of the government as an interaction terms in affecting the technical efficiency of GLCs. Stochastic Frontier Analysis (SFA) is used to identify the technical efficiency score of GLCs followed by the Fixed and Random Effects and Fully Modified Ordinary Least Squares (FMOLS). The results from this study reveal that the internal factors such as the revenue, financial capital, government ownership, firm size and return on assets and macroeconomic factors such as GDP, infrastructure, unemployment, trade openness, inflation rate and real interest rate, show a significant impact on the GLS’s technical efficiency. The study recommends government involvement as an interaction terms to improve GLC’s efficiency. In terms of policy, the government should play a greater role in providing a stable macroeconomic environment, making rational decisions and establishing more international economic linkages through GLCs. It also indicates that policy-makers should act in accordance with good governance based on GLCs’ performance and development. 2016 Thesis https://etd.uum.edu.my/6193/ https://etd.uum.edu.my/6193/1/s94002_01.pdf text eng public https://etd.uum.edu.my/6193/2/s94002_02.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Abd Rahman, N.H., Zain, M. N. & Al- Haj, N.H. (2011). CSR disclosures and its determinants: evidence from Malaysian government link companies. Social Responsibility Journal, 7(2), 181 – 201 Abdul Rahman, R. & Mohamed Ali, F.H. (2006). Board, audit committee, culture and earnings management: Malaysian evidence. Managerial Auditing Journal, 21(7), 783- 804. 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