Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education
We investigate the non-linearity between family control and firm financial sustainability and the manner in which CEO tenure and education moderate the non-linear relationship. We apply fixed-effects panel regression and several alternative tests, including two-stage least squares, in studying 2844...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Springer
2022
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| Online Access: | http://umpir.ump.edu.my/id/eprint/33943/1/Non-linearity%20between%20family%20control.pdf |
| _version_ | 1825814304849395712 |
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| author | Norazlin, Ahmad Irene, Wei Kiong Ting Tebourbi, Imen Kweh, Qian Long |
| author_facet | Norazlin, Ahmad Irene, Wei Kiong Ting Tebourbi, Imen Kweh, Qian Long |
| author_sort | Norazlin, Ahmad |
| collection | UMP |
| description | We investigate the non-linearity between family control and firm financial sustainability and the manner in which CEO tenure and education moderate the non-linear relationship. We apply fixed-effects panel regression and several alternative tests, including two-stage least squares, in studying 2844 firm-year observations of Malaysian publicly listed firms during the period 2009–2019. We find a non-linear U-shaped relationship between family control and firm financial sustainability. Specifically, once levels of family control exceed a certain threshold, the relationship between family control and firm financial sustainability becomes positive. Moreover, CEO tenure and education moderate this non-linearity. That is, when family control is at a low (high) level, both moderators lessen (increase) the negative (positive) effects of family control on firm financial sustainability. |
| first_indexed | 2024-03-06T12:56:46Z |
| format | Article |
| id | UMPir33943 |
| institution | Universiti Malaysia Pahang |
| language | English |
| last_indexed | 2024-03-06T12:56:46Z |
| publishDate | 2022 |
| publisher | Springer |
| record_format | dspace |
| spelling | UMPir339432022-05-25T02:36:09Z http://umpir.ump.edu.my/id/eprint/33943/ Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education Norazlin, Ahmad Irene, Wei Kiong Ting Tebourbi, Imen Kweh, Qian Long HF Commerce We investigate the non-linearity between family control and firm financial sustainability and the manner in which CEO tenure and education moderate the non-linear relationship. We apply fixed-effects panel regression and several alternative tests, including two-stage least squares, in studying 2844 firm-year observations of Malaysian publicly listed firms during the period 2009–2019. We find a non-linear U-shaped relationship between family control and firm financial sustainability. Specifically, once levels of family control exceed a certain threshold, the relationship between family control and firm financial sustainability becomes positive. Moreover, CEO tenure and education moderate this non-linearity. That is, when family control is at a low (high) level, both moderators lessen (increase) the negative (positive) effects of family control on firm financial sustainability. Springer 2022 Article PeerReviewed pdf en http://umpir.ump.edu.my/id/eprint/33943/1/Non-linearity%20between%20family%20control.pdf Norazlin, Ahmad and Irene, Wei Kiong Ting and Tebourbi, Imen and Kweh, Qian Long (2022) Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education. Eurasian Business Review. pp. 1-23. ISSN 2147-4281. (Published) https://doi.org/10.1007/s40821-021-00197-7 https://doi.org/10.1007/s40821-021-00197-7 |
| spellingShingle | HF Commerce Norazlin, Ahmad Irene, Wei Kiong Ting Tebourbi, Imen Kweh, Qian Long Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education |
| title | Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education |
| title_full | Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education |
| title_fullStr | Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education |
| title_full_unstemmed | Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education |
| title_short | Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education |
| title_sort | non linearity between family control and firm financial sustainability moderating effects of ceo tenure and education |
| topic | HF Commerce |
| url | http://umpir.ump.edu.my/id/eprint/33943/1/Non-linearity%20between%20family%20control.pdf |
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