DIVESTITURE, CORPORATE PERFORMANCE AND OWNERSHIP EXPROPRIATION: EVIDENCE ON MALAYSIA PUBLIC-LISTED COMPANIES

被引：0

作者：

Ung, Lik-Jing ^{[1
]}

Brahmana, Rayenda ^{[1
]}

Puah, Chin-Hong ^{[1
]}

Hooy, Chee Wooi ^{[2
]}

机构：

[1] Univ Malaysia Sarawak, Fac Econ & Business, Sarawak 94300, Malaysia

[2] Univ Sains Malaysia, Sch Management, Minden 11800, P Penang, Malaysia

来源：

ECONOMIC AND SOCIAL DEVELOPMENT (ESD) | 2016年

关键词：

Corporate Governance; Divestiture; Firm Value; Ownership Structure; FIRM PERFORMANCE; TURNAROUND STRATEGIES; MANAGERIAL BEHAVIOR; ECONOMIC-FREEDOM; AGENCY COSTS; ASSET SALES; RETRENCHMENT; GOVERNANCE; MARKET; INDUSTRIAL;

D O I：

暂无

中图分类号：

TU98 [区域规划、城乡规划];

学科分类号：

0814 ; 082803 ; 0833 ;

摘要：

This paper investigates the impact of divestiture strategy on Malaysia listed company performance. This paper attempts to determine ownership expropriation and use of proceeds associated based on the Agency Theory. We consider a sample of more than 100 companies between 2008 and 2013. We focus on Malaysia listed firm which is developing country. Our findings provide that return on asset as accounting measures performance will tend to increase when divestiture strategy is adopted while Tobin's q as market-based measures performance will decrease when divestiture strategy is used by firm.

引用

页码：507 / 522

页数：16

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