This paper aims to investigate the extent to which Malaysian small- and medium-sized enterprises （SMEs） adopted corporate governance （CG） principles and their effects on firm performance. The principles examined i...This paper aims to investigate the extent to which Malaysian small- and medium-sized enterprises （SMEs） adopted corporate governance （CG） principles and their effects on firm performance. The principles examined included： establishing clear roles and responsibilities; strengthening composition; and reinforcing independence. The paper is based on a questionnaire survey study among 113 SMEs that consisted of 35% （39） of manufacturing and related services and 65% （74） from services including information and communication technology （ICT）, primary agriculture, construction, mining, and quarrying. The analysis of the data indicates that 32% of the respondents said that the primary reason why they have their own business is to have control over their own working life. This fmding appears to confirm the f＇mancing theory that SMEs owners have other goals than profitability. In addition, 30% of SMEs perceived that the most important role played by the board is risk management; hence, these boards have a greater control over financial risks that may lead to better financial performance. The analysis also shows that 81% of the respondents＇ board consisted of internal board members only. These enterprises need to see the important role of external board members as a source of advice providers and experts to them. For policies relating to clear roles and responsibilities of board, only 28% of the respondents established clear functions reserved for the board and those delegated to management; substantial respondents did not draw up policies relating to reinforce board independency （between 75% and 79%） and to strengthen board composition （46%）. Besides, 68% of the respondents have the position of chairman and CEO held by same individuals and 81% of the chairman is an executive member of the board. These findings suggest that SMEs cannot see the importance of strengthening board and having independent board members. Regression analysis also indicates that board independence has a significant and positive impact on firm performance. Hence, SMEs need to appreciate networking advantages, competency, and strategic knowledge that the right board can offer. The governmental ministries and agencies in Malaysia need to take active measures to encourage SMEs to strengthen their board governance, because SMEs are the important economic powers for stimulating national economic growth. This paper contributes to the empirical literatures on the adoption of CG principles and their effects on SMEs＇ firm performance in emerging markets.展开更多
Since the nineteen nineties, Chinese economic grows rapidly. Chinese enterprises have become an important force in the world economic growth. At the same time enterprise growth has been accompanied by M ＆ A, the succ...Since the nineteen nineties, Chinese economic grows rapidly. Chinese enterprises have become an important force in the world economic growth. At the same time enterprise growth has been accompanied by M ＆ A, the success ofM ＆ A can bring great leap and growth for the enterprise. As for Chinese enterprise, today is an important period of mergers and acquisitions, but the real success ofM ＆ A is less. Through the analysis of the causes for the failure ofM ＆ A enterprise, some research results suggest the following three reasons are the major. First is the ignoring differences in M ＆ A enterprises culture, second is the cultural conflict between no effective solution for mergers and acquisitions, and the third is not able to integrate the cultural reasonably.展开更多
Since the nineteen nineties, Chinese economic grows rapidly. Chinese enterprises have become an important force in the world economic growth. At the same time enterprise growth has been accompanied by M ＆ A, the succ...Since the nineteen nineties, Chinese economic grows rapidly. Chinese enterprises have become an important force in the world economic growth. At the same time enterprise growth has been accompanied by M ＆ A, the success ofM ＆ A can bring great leap and growth for the enterprise. As for Chinese enterprise, today is an important period of mergers and acquisitions, but the real success ofM ＆ A is less. Through the analysis of the causes for the failure ofM ＆ A enterprise, some research results suggest the following three reasons are the major. First is the ignoring differences in M ＆ A enterprises culture, second is the cultural conflict between no effective solution for mergers and acquisitions, and the third is not able to integrate the cultural reasonably.展开更多
According to the general tendency of the development of enterprise cultural in the 21st century, more and more intense attentions will be paid on the enterprise culture. Thus, while the world green tendency and the gr...According to the general tendency of the development of enterprise cultural in the 21st century, more and more intense attentions will be paid on the enterprise culture. Thus, while the world green tendency and the green demand rise increasingly, the research on the green cultural management is becoming more important. The study of the green cultural management is not only of vital significance in promoting the continuous development of social economy, but also exchanging the way of the economic growth from extensive pattern to intensive pattern, improving the capacity of the competition and economic benefit of the company, and accelerating the international business. Moreover, the research has another significant importance in enriching and developing the science of enterprise of management.展开更多
文摘This paper aims to investigate the extent to which Malaysian small- and medium-sized enterprises （SMEs） adopted corporate governance （CG） principles and their effects on firm performance. The principles examined included： establishing clear roles and responsibilities; strengthening composition; and reinforcing independence. The paper is based on a questionnaire survey study among 113 SMEs that consisted of 35% （39） of manufacturing and related services and 65% （74） from services including information and communication technology （ICT）, primary agriculture, construction, mining, and quarrying. The analysis of the data indicates that 32% of the respondents said that the primary reason why they have their own business is to have control over their own working life. This fmding appears to confirm the f＇mancing theory that SMEs owners have other goals than profitability. In addition, 30% of SMEs perceived that the most important role played by the board is risk management; hence, these boards have a greater control over financial risks that may lead to better financial performance. The analysis also shows that 81% of the respondents＇ board consisted of internal board members only. These enterprises need to see the important role of external board members as a source of advice providers and experts to them. For policies relating to clear roles and responsibilities of board, only 28% of the respondents established clear functions reserved for the board and those delegated to management; substantial respondents did not draw up policies relating to reinforce board independency （between 75% and 79%） and to strengthen board composition （46%）. Besides, 68% of the respondents have the position of chairman and CEO held by same individuals and 81% of the chairman is an executive member of the board. These findings suggest that SMEs cannot see the importance of strengthening board and having independent board members. Regression analysis also indicates that board independence has a significant and positive impact on firm performance. Hence, SMEs need to appreciate networking advantages, competency, and strategic knowledge that the right board can offer. The governmental ministries and agencies in Malaysia need to take active measures to encourage SMEs to strengthen their board governance, because SMEs are the important economic powers for stimulating national economic growth. This paper contributes to the empirical literatures on the adoption of CG principles and their effects on SMEs＇ firm performance in emerging markets.
文摘Since the nineteen nineties, Chinese economic grows rapidly. Chinese enterprises have become an important force in the world economic growth. At the same time enterprise growth has been accompanied by M ＆ A, the success ofM ＆ A can bring great leap and growth for the enterprise. As for Chinese enterprise, today is an important period of mergers and acquisitions, but the real success ofM ＆ A is less. Through the analysis of the causes for the failure ofM ＆ A enterprise, some research results suggest the following three reasons are the major. First is the ignoring differences in M ＆ A enterprises culture, second is the cultural conflict between no effective solution for mergers and acquisitions, and the third is not able to integrate the cultural reasonably.
文摘Since the nineteen nineties, Chinese economic grows rapidly. Chinese enterprises have become an important force in the world economic growth. At the same time enterprise growth has been accompanied by M ＆ A, the success ofM ＆ A can bring great leap and growth for the enterprise. As for Chinese enterprise, today is an important period of mergers and acquisitions, but the real success ofM ＆ A is less. Through the analysis of the causes for the failure ofM ＆ A enterprise, some research results suggest the following three reasons are the major. First is the ignoring differences in M ＆ A enterprises culture, second is the cultural conflict between no effective solution for mergers and acquisitions, and the third is not able to integrate the cultural reasonably.
文摘According to the general tendency of the development of enterprise cultural in the 21st century, more and more intense attentions will be paid on the enterprise culture. Thus, while the world green tendency and the green demand rise increasingly, the research on the green cultural management is becoming more important. The study of the green cultural management is not only of vital significance in promoting the continuous development of social economy, but also exchanging the way of the economic growth from extensive pattern to intensive pattern, improving the capacity of the competition and economic benefit of the company, and accelerating the international business. Moreover, the research has another significant importance in enriching and developing the science of enterprise of management.
