| Summary: | The purpose of this study is to investigate the relationship between family ownership structure and firm value among Malaysian public listed companies. A total of 896 companies listed on Bursa Malaysia from years 2000 to 2003 were selected as the sample. The findings revealed that non-family firms with smaller board size are better-off than non-family firms with larger board size when family CEO and family ownership are used as the hypothesis variables. Furthermore, documented results suggest that family controlled firms practicing duality leadership performed better when compared with family controlled firms with unitary leadership when the family member is the CEO of the company. This study may be useful to regulators, particularly the Securities Commission, Bursa Malaysia, investors and public in assessing the corporate performance of family controlled firms in Malaysia.
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