An empirical examination of family-managed firms and non-family-managed firms: evidence from Malaysia
The purpose of this study is to explore the firm characteristics of family-managed firms in Malaysian public-listed firms. Selected firms were matched for size and industry before comparisons were made between the family-managed firms and non-family-managed firms. The data were collected using secon...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Universiti Putra Malaysia Press
2013
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| Online Access: | http://psasir.upm.edu.my/id/eprint/28354/1/28354.pdf |
| Summary: | The purpose of this study is to explore the firm characteristics of family-managed firms in Malaysian public-listed firms. Selected firms were matched for size and industry before comparisons were made between the family-managed firms and non-family-managed firms. The data were collected using secondary sources. Various firm characteristics were investigated. The findings indicate that firms managed by families have a significantly larger
board size, higher number of non-independent directors and executive directors and their directors have significantly longer experience working in the firm. However, the results
suggest that the directors of these family-managed firms significantly lack professional qualification and tend to have fewer meetings compared to those directors in non-family-managed firms. The findings also indicate that the compensations paid to the executive directors of family-managed firms are significantly higher than those paid to executive directors of non-family managed firms. The results also suggest that these firms have not utilised their assets efficiently to generate sales compared to their non-family-business counterparts. |
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