Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms
This study examines the relationship between the diversity of board members and the price informativeness in the top 100 Malaysian public listed firms. By incorporating a series of the corporate governance and firm characteristic control variables, our findings indicate a negative relationship betwe...
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| Format: | Article |
| Language: | English English |
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Penerbit UMS
2021
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| Online Access: | https://eprints.ums.edu.my/id/eprint/33207/1/Board%20Diversity%20and%20Price%20Informativeness%20for%20Malaysian%20Top%20100%20Public%20Listed%20Firms.pdf https://eprints.ums.edu.my/id/eprint/33207/2/Board%20Diversity%20and%20Price%20Informativeness%20for%20Malaysian%20Top%20100%20Public%20Listed%20Firms1.pdf |
| _version_ | 1825714840023334912 |
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| author | Ooi, Ai Yee Minah Japang Suzillah Sidek |
| author_facet | Ooi, Ai Yee Minah Japang Suzillah Sidek |
| author_sort | Ooi, Ai Yee |
| collection | UMS |
| description | This study examines the relationship between the diversity of board members and the price informativeness in the top 100 Malaysian public listed firms. By incorporating a series of the corporate governance and firm characteristic control variables, our findings indicate a negative relationship between ethnic diversity and price informativeness, suggesting that a less diverse board led to a more informative stock price. Nevertheless, gender diversity shows no significant impact. When the sample is divided into board with foreign director(s) and without foreign director, we find that the influence of ethnic diversity on price informativeness does not hold in the former firms. Our overall results imply that less ethnic diversity board reduces internal disagreement during board meetings. The existence of foreign directors mitigates the disagreement and thus undermine the influence of board ethnic diversity on price informativeness. Distinctively, our finding suggests that board foreign investors reduce the asymmetry information by importing corporate governance, yielding essential implications for policy makers. |
| first_indexed | 2024-03-06T03:17:43Z |
| format | Article |
| id | ums.eprints-33207 |
| institution | Universiti Malaysia Sabah |
| language | English English |
| last_indexed | 2024-03-06T03:17:43Z |
| publishDate | 2021 |
| publisher | Penerbit UMS |
| record_format | dspace |
| spelling | ums.eprints-332072022-07-16T01:59:55Z https://eprints.ums.edu.my/id/eprint/33207/ Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms Ooi, Ai Yee Minah Japang Suzillah Sidek HB1-3840 Economic theory. Demography This study examines the relationship between the diversity of board members and the price informativeness in the top 100 Malaysian public listed firms. By incorporating a series of the corporate governance and firm characteristic control variables, our findings indicate a negative relationship between ethnic diversity and price informativeness, suggesting that a less diverse board led to a more informative stock price. Nevertheless, gender diversity shows no significant impact. When the sample is divided into board with foreign director(s) and without foreign director, we find that the influence of ethnic diversity on price informativeness does not hold in the former firms. Our overall results imply that less ethnic diversity board reduces internal disagreement during board meetings. The existence of foreign directors mitigates the disagreement and thus undermine the influence of board ethnic diversity on price informativeness. Distinctively, our finding suggests that board foreign investors reduce the asymmetry information by importing corporate governance, yielding essential implications for policy makers. Penerbit UMS 2021 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/33207/1/Board%20Diversity%20and%20Price%20Informativeness%20for%20Malaysian%20Top%20100%20Public%20Listed%20Firms.pdf text en https://eprints.ums.edu.my/id/eprint/33207/2/Board%20Diversity%20and%20Price%20Informativeness%20for%20Malaysian%20Top%20100%20Public%20Listed%20Firms1.pdf Ooi, Ai Yee and Minah Japang and Suzillah Sidek (2021) Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms. Labuan Bulletin of International Business and Finance (LBIBF), 19. pp. 79-94. ISSN 1675-7262 (P-ISSN) , 2600-7894 (E-ISSN) https://jurcon.ums.edu.my/ojums/index.php/lbibf/article/view/3364 |
| spellingShingle | HB1-3840 Economic theory. Demography Ooi, Ai Yee Minah Japang Suzillah Sidek Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms |
| title | Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms |
| title_full | Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms |
| title_fullStr | Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms |
| title_full_unstemmed | Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms |
| title_short | Board Diversity and Price Informativeness for Malaysian Top 100 Public Listed Firms |
| title_sort | board diversity and price informativeness for malaysian top 100 public listed firms |
| topic | HB1-3840 Economic theory. Demography |
| url | https://eprints.ums.edu.my/id/eprint/33207/1/Board%20Diversity%20and%20Price%20Informativeness%20for%20Malaysian%20Top%20100%20Public%20Listed%20Firms.pdf https://eprints.ums.edu.my/id/eprint/33207/2/Board%20Diversity%20and%20Price%20Informativeness%20for%20Malaysian%20Top%20100%20Public%20Listed%20Firms1.pdf |
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