Board structure and firm value: A study on listed banking firms in the Asian emerging markets

Zulkafli, Abdul Hadi and Amran, Azlan and Samad, M. Fazilah Abdul (2010) Board structure and firm value: A study on listed banking firms in the Asian emerging markets. International Journal of Business Governance and Ethics, 5 (3). pp. 157-177. ISSN 1477-9048

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Abstract

The banking sector in developing countries is regarded as an engine of economic growth (Arun, 2004). It is believed that corporate governance is necessary to ensure a sound financial system and, consequently, help develop the country's economy. Using a Pooled Generalised Least Squares (GLS) regression model, the relationship between board structure and bank's performance is analysed. A total of 107 listed banks in nine countries of the Asian emerging markets were included in the study. It is evidenced that only one aspect of board structure, which is CEO Duality, is positively significant, with market-based corporate performance.

Item Type: Article
Uncontrolled Keywords: corporate governance; board structure; banking; banks; Asia; firm value; listed companies; developing countries; economic growth; emerging markets; pooled GLS; generalised least squares; GLS regression model; CEO duality; chief executive officers; market-based corporate performance; Malaysia; Thailand; Philippines; Indonesia; Korea; Singapore; Hong Kong; Taiwan; India; business governance
Subjects: H Social Sciences > HG Finance
H Social Sciences > HG Finance > Banking
Divisions: Faculty of Business and Accountancy
Depositing User: Mr. Faizal Hamzah
Date Deposited: 19 May 2011 02:35
Last Modified: 06 Nov 2019 08:38
URI: http://eprints.um.edu.my/id/eprint/1274

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