Corporate governance mechanisms and firm valuation in Malaysian listed firms： A panel data analysis

Corporate governance mechanisms emerge to tackle agency problems in ensuring that shareholders＇ funds are not expropriated or wasted on unprofitable activities. The issue arises as to whether these improvements have been effective in reducing agency costs, and therefore enhancing firm value. The objectives of this paper is to examine the effects of governance mechanisms of dividend, types of ownership structure, and board governance on firm value. This paper utilises a panel data analysis of 403 firms listed on the Bursa Malaysia over a four-year period from years 2002 to 2005. A hierarchical regression analysis is used to test the hypotheses and the data is analysed using the generalized least square （GLS） estimation technique. Overall, the results highlight the importance of moderating role played by board governance variables with types of ownership structure to influence firm value. However, the benefits of better corporate governance through enhanced board governance are not the same across all firms since their incentives vary with respect to dividend and different types of ownership structure mechanisms.

Corporate governance mechanisms and performance： Analysis of Malaysian family and non-family controlled companies

Most study concentrating on family and non-family companies is conducted overseas with little research carried out in Malaysia. This study examined the impact of corporate governance mechanisms on family and non-family controlled companies＇ performance. The sample size of this study is 730 companies listed on Bursa Malaysia from 2003 to 2007. The findings reveal that corporate governance mechanisms influence the family and non-family controlled companies＇ performance. But not all corporate governance mechanisms are significant. The significant variables differ between family and non-family controlled companies. Thus, regulators need to be vigilant that family and non-family controlled companies practise differently and to set different code needed for each type of families.

Review on researches of earnings management and corporate governance mechanism

This research is based on previous theory research of corporate governance from the internal mechanisms, ownership structure and board structure, and researched how these three aspects affect earnings management.

The Study on Multinational Operation Risk-Defense System Based on Corporate Governance Mechanism

：With the unceasing globalization development of MNCs＇ business and connnuous intensify in international competition, the managers of MNCs find that the strategy decisions they are faced on are becoming more complicated, and they have deeply realized that the perception and defense of the international risk has the impact on their strategy decisions. The thesis, proceeding with analyzing and evaluating risk types in the course of enterprises developing in the international markets, based on the integration international risk perception model, utilizing relative theories and study thoughts of the corporate governance mechanisms, especially the relative studies on overseas enterprises＇ governance mechanisms, explores how to use the corporate governance mechanisms to build the defense system against international risks. Meanwhile, the thesis further discusses the risks our native enterprises have suffered from during the multinational operation in detail, explores its reasons and offers the defense measures of all sorts of risk.

A New Latent Class Stochastic Frontier Model for the Best Practices ofUSA＇s Corporate Governance

In this paper, the authors study the association between firms＇ specific characteristics and performances for a sample of 320 American firms using a governance efficiency index, calculated by the stochastic frontier analysis. The use of a latent class in the specification of the model, allowed detecting two groups of firms according to their specific characteristics： the firm size, the leverage, the dividend yield, and the return on equity （ROE）. The results of affectation equation show that the probability to be in the second group （the most efficient） is more important when the firm size, the dividend yield, and the ROE are high, while a high leverage level decreases the chance to be in the first group （the less efficient）.