This study investigates the effects of corporate governance compliance on market valuation in Malaysia using a sample of 164 companies listed on the Main Board in Bursa Malaysia from 5 different industries （consumer,...This study investigates the effects of corporate governance compliance on market valuation in Malaysia using a sample of 164 companies listed on the Main Board in Bursa Malaysia from 5 different industries （consumer, trading ＆ services, industrial, constructions and properties） within 2001 to 2005. Throughout, this study will use correlation and regression analysis in the SPSS software to determine the effects of corporate governance practices on Market Valuation. In analyzing firms＇ market valuation, we will use the Tobin＇s Q formula and for the corporate governance compliance, we will look at 4 criteria to compare with market valuation, which are （1） Board of Director＇s composition, （2） Board of Director＇s remuneration （salaries）, （3） Board of Director＇s training and development, （4） Board of Director＇s meeting. In order to determine the effects between the corporate governance compliance and market valuation, we will use regression analysis. Based on the correlation analysis, the first null hypothesis must be rejected and the alternative hypothesis is accepted, in which dependent variable and independent variables are significantly correlated with BOD remuneration and BOD training availability. Overall, there is a significant relationship between Tobin＇s Q and independent variables （BOD remuneration and BOD training）. This study also recommends that for the company who did not comply with the code, they should follow the best practice because it will be a pivotal weapon in facing with the fierce competition in era globalization.展开更多
The purpose of this paper is to investigate the relationship between investor protection, ownership structure and corporate valuation. La Porta showed that there existed a simple linear relationship between corporate ...The purpose of this paper is to investigate the relationship between investor protection, ownership structure and corporate valuation. La Porta showed that there existed a simple linear relationship between corporate valuation and the holding percentage of controlling shareholders. But recent empirical evidence does not support it. A nonlinear relationship is proved between ownership structure and corporate valuaton by relaxing the assumption of La Porta＇s model in this paper. There exists a positive relation between investor protection and corporate valuation. Our empirical research shows that this relation is significantly positive indeed.展开更多
In order to analyze the sources of merger and acquisition(M & A)information,and the relationship between the M & A information and the M & A corporation management bureau,the searching and evaluation proce...In order to analyze the sources of merger and acquisition(M & A)information,and the relationship between the M & A information and the M & A corporation management bureau,the searching and evaluation procedure of M & A target was discussed.The standard modes and procedures of finding the sources of the M & A target,examination of the M & A information,depicting on the future of M & A,and evaluation of the M & A target,were brought forward.展开更多
Due to the proliferation of mobile technology and devices like smartphones and tablet PCs into our daily lives, m-learning attracts also more attention in professional training in enterprises. Derived from these state...Due to the proliferation of mobile technology and devices like smartphones and tablet PCs into our daily lives, m-learning attracts also more attention in professional training in enterprises. Derived from these statements, this research paper is focused on the following question: what are acceptance factors for m-learning (mobile learning) in the organizational setting? The paper analyzes a real experience in m-learning for training the banking personnel in an international banking institution in Turkey. For this purpose, a mobile virtual learning environment called as mFOR@ was developed and implemented, which was designed to support the training and development process for employees using Pocket PCs. The participants of the training activity (13 professionals) evaluated the m-learning experience via a semi-structured interview;all the content and interactions within mFOR@ were analyzed via content analysis. As a basis for a successful implementation in professional training in enterprises, the acceptance by decision makers and the learners is critical. That is the reason why I present a qualitative analysis of acceptance and the perceived value of m-learning in a corporate setting.展开更多
A computer aided decision support system (merger and acquisition analyzing and evaluating-decision support system (MAAE-DSS)) for analyzing and evaluating corporate merger and acquisition (M&A) strategies, was pro...A computer aided decision support system (merger and acquisition analyzing and evaluating-decision support system (MAAE-DSS)) for analyzing and evaluating corporate merger and acquisition (M&A) strategies, was proposed. Strategic management tools such as scale index-market growth rate matrix (S-M matrix), industrial attraction-corporate strength matrix (I-S matrix), market growth rate-market occupancy matrix (G-O matrix), and life cycle-competitive position matrix (L-C matrix), were applied in the MAAE-DSS with its own data base (DB), model base (MB), method base (MeB), and knowledge base (KB), in order to support the management bureau in the formulation of M&A strategies.展开更多
This paper studies incentive effect and entrenchment effect of the largest shareholder. Author investigates 763 listed companies in SHSE, explores the statistical relationship between the largest shareholding and corp...This paper studies incentive effect and entrenchment effect of the largest shareholder. Author investigates 763 listed companies in SHSE, explores the statistical relationship between the largest shareholding and corporate performance. Author observes that the largest shareholder has the incentive effect and entrenchment effect on corporate valuation. Empirical relationship between the largest shareholding and corporate valuation shows that the firm value decreases with the equity ownership of the largest shareholders, consistent with a negative entrenchment effect, when the largest equity ownership is below 40.28% of the whole share. Then firm value rises when the proportion of the largest shareholder＇s rights was increased to 69.29%, being consistent with a positive incentive effect. But with the increase of the share of the largest shareholding, firm value falls again.展开更多
Over the years much has been written about the industry life cycle and corporate life cycle, yet there has been remarkably little attention given to the relation between them and M＆A, or why this relationship exists....Over the years much has been written about the industry life cycle and corporate life cycle, yet there has been remarkably little attention given to the relation between them and M＆A, or why this relationship exists. Based on reviewing the industry life cycle and the corporate life cycle, we find the relationship between M＆A and these life cycles, and then propose the life cycle of M＆A. At last, we use the M＆A life cycle to explain the characters of the merger waves over last 100 years.展开更多
文摘This study investigates the effects of corporate governance compliance on market valuation in Malaysia using a sample of 164 companies listed on the Main Board in Bursa Malaysia from 5 different industries （consumer, trading ＆ services, industrial, constructions and properties） within 2001 to 2005. Throughout, this study will use correlation and regression analysis in the SPSS software to determine the effects of corporate governance practices on Market Valuation. In analyzing firms＇ market valuation, we will use the Tobin＇s Q formula and for the corporate governance compliance, we will look at 4 criteria to compare with market valuation, which are （1） Board of Director＇s composition, （2） Board of Director＇s remuneration （salaries）, （3） Board of Director＇s training and development, （4） Board of Director＇s meeting. In order to determine the effects between the corporate governance compliance and market valuation, we will use regression analysis. Based on the correlation analysis, the first null hypothesis must be rejected and the alternative hypothesis is accepted, in which dependent variable and independent variables are significantly correlated with BOD remuneration and BOD training availability. Overall, there is a significant relationship between Tobin＇s Q and independent variables （BOD remuneration and BOD training）. This study also recommends that for the company who did not comply with the code, they should follow the best practice because it will be a pivotal weapon in facing with the fierce competition in era globalization.
文摘The purpose of this paper is to investigate the relationship between investor protection, ownership structure and corporate valuation. La Porta showed that there existed a simple linear relationship between corporate valuation and the holding percentage of controlling shareholders. But recent empirical evidence does not support it. A nonlinear relationship is proved between ownership structure and corporate valuaton by relaxing the assumption of La Porta＇s model in this paper. There exists a positive relation between investor protection and corporate valuation. Our empirical research shows that this relation is significantly positive indeed.
文摘In order to analyze the sources of merger and acquisition(M & A)information,and the relationship between the M & A information and the M & A corporation management bureau,the searching and evaluation procedure of M & A target was discussed.The standard modes and procedures of finding the sources of the M & A target,examination of the M & A information,depicting on the future of M & A,and evaluation of the M & A target,were brought forward.
文摘Due to the proliferation of mobile technology and devices like smartphones and tablet PCs into our daily lives, m-learning attracts also more attention in professional training in enterprises. Derived from these statements, this research paper is focused on the following question: what are acceptance factors for m-learning (mobile learning) in the organizational setting? The paper analyzes a real experience in m-learning for training the banking personnel in an international banking institution in Turkey. For this purpose, a mobile virtual learning environment called as mFOR@ was developed and implemented, which was designed to support the training and development process for employees using Pocket PCs. The participants of the training activity (13 professionals) evaluated the m-learning experience via a semi-structured interview;all the content and interactions within mFOR@ were analyzed via content analysis. As a basis for a successful implementation in professional training in enterprises, the acceptance by decision makers and the learners is critical. That is the reason why I present a qualitative analysis of acceptance and the perceived value of m-learning in a corporate setting.
文摘A computer aided decision support system (merger and acquisition analyzing and evaluating-decision support system (MAAE-DSS)) for analyzing and evaluating corporate merger and acquisition (M&A) strategies, was proposed. Strategic management tools such as scale index-market growth rate matrix (S-M matrix), industrial attraction-corporate strength matrix (I-S matrix), market growth rate-market occupancy matrix (G-O matrix), and life cycle-competitive position matrix (L-C matrix), were applied in the MAAE-DSS with its own data base (DB), model base (MB), method base (MeB), and knowledge base (KB), in order to support the management bureau in the formulation of M&A strategies.
文摘This paper studies incentive effect and entrenchment effect of the largest shareholder. Author investigates 763 listed companies in SHSE, explores the statistical relationship between the largest shareholding and corporate performance. Author observes that the largest shareholder has the incentive effect and entrenchment effect on corporate valuation. Empirical relationship between the largest shareholding and corporate valuation shows that the firm value decreases with the equity ownership of the largest shareholders, consistent with a negative entrenchment effect, when the largest equity ownership is below 40.28% of the whole share. Then firm value rises when the proportion of the largest shareholder＇s rights was increased to 69.29%, being consistent with a positive incentive effect. But with the increase of the share of the largest shareholding, firm value falls again.
文摘Over the years much has been written about the industry life cycle and corporate life cycle, yet there has been remarkably little attention given to the relation between them and M＆A, or why this relationship exists. Based on reviewing the industry life cycle and the corporate life cycle, we find the relationship between M＆A and these life cycles, and then propose the life cycle of M＆A. At last, we use the M＆A life cycle to explain the characters of the merger waves over last 100 years.
