Ownership structure and financial distress by Md Rus, Rohani, Taufil Mohd, Kamarun Nisham, Abdul Latif, Rohaida, Alassan, Zarina Nadakkavil

“…Caught in financial distress has never been an objective of any company.Nevertheless, many companies collapsed due to controllable and uncontrollable factors.There is inconclusive evidence as to whether changes in ownership attributes improve firms’ performance and therefore could reduce the likelihood of firms going through financial distress.This study attempts to understand whether type of ownership have significant relationship with companies that experienced financial distress.This study is useful to directors who can evaluate the existence of these factors in their companies and to authorities who can use this study to measure the effectiveness of government linked institutional investors in preventing distress.…”
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Ownership structure and firm performance in Malaysia by Kamardin, Hasnah, Abdul Latif, Rohaida, Taufil Mohd, Kamarun Nisham

“…While family ownership and ownership by government-linked investment companies have linear relationship. …”
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The effect of ownership structure on firm performance in Malaysia by Taufil Mohd, Kamarun Nisham, Md Rus, Rohani, Musallam, Sami R. M.

“…This paper aims to investigate and analyze the effect of ownership by different groups of investors on the performance of listed companies in Malaysia for a period of ten years from 2000 to 2009.The results of GLS show that firm performance is positive and significantly related to five government-linked investment companies, foreign ownership, and DPIIs ownership while it is negatively and significantly related to state ownership.These results imply that government ownership through GLICs does not lead to value destruction.In fact, it could lead to better monitoring.However, state ownership leads to lower values.…”
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The effect of ownership structure on firm performance in Malaysia by Taufil Mohd, Kamarun Nisham, Md Rus, Rohani, Musallam, Sami R. M.

“…This paper aims to investigate and analyze the effect of ownership by different groups of investors on the performance of listed companies in Malaysia for a period of ten years from 2000 to 2009.The results of GLS show that firm performance is positive and significantly related to five government-linked investment companies, foreign ownership, and DPIIs ownership while it is negatively and significantly related to state ownership.These results imply that government ownership through GLICs does not lead to value destruction.In fact, it could lead to better monitoring.However, state ownership leads to lower values.…”
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Effects of ownership and board structures on acquisitions returns by Ishak, Norhamiza, Taufil Mohd, Kamarun Nisham, Shahar, Hanita Kadir

“…Since acquisitions create agency problems and companies in Malaysia exhibit concentrated ownership structures, this study aimed to investigate three major objectives namely the effects of family control, blockholder activism, and board structures on the stock performance of acquirers. …”
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The effect of busy directors, CEO duality and ownership on firm performance by Taufil Mohd, Kamarun Nisham, Abdul Latif, Rohaida, Kamardin, Hasnah, Che Adam, Noriah

“…This study examines the effect of multiple directorships, CEO Duality and board ownership on firm performance.Based on panel data analysis of 792 observations on Malaysian public listed companies during 2006 to 2010, we find that executive directors and non-independent non-executive directors who hold multiple directorships can severely deteriorate company performance.Similarly, CEO Duality has a significant negative relationship on company performance.On the other hand, high level of board ownership has significant and positive effect on returns on equity (ROE).The study has policy implication on the board of directors' best practice in Malaysia given many Malaysian companies are characterized as having pyramidal and cross holding structure.It is recommended that directors limit their involvement as directors in multiple firms to allow proper engagement of their fiduciary duties.…”
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Financial performance and ownership structure: A comparison study between community development banks, government banks and private bank in Indonesia by Agustin, Hamdi, Md Rus, Rohani, Taufil Mohd, Kamarun Nisham

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Do institutional investors drive the IPO valuation? by Chui, Zi Ong, Mohd Rashid, Rasidah, Taufil Mohd, Kamarun Nisham

“…This study aimed to investigate the effect of institutional ownership on initial public offering (IPO) valuation and also to examine the indirect role played by the pricing mechanism on the relationship. …”
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Agency costs and the long-run performance of debt issuers by Ibrahim, Yusnidah, Uddin, Md Mohan, Taufil Mohd, Kamarun Nisham, Minai, Mohd Sobri

“…Debt issuers with more concentrated ownership and lower MO benefit from the issuance of debt through a reduction of agency costs.…”
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Factors influencing the underpricing of initial public offerings in an emerging market: Malaysian evidence by Abdullah, Nur Adiana Hiau, Taufil Mohd, Kamarun Nisham

“…However, such intervention might have contributed to the losses on the part of the substantial shareholders.Surprisingly, Leland and Pyle’s signalling model on entrepreneur’s fractional ownership could not be supported.…”
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Agency cost and long run performance of debt issuers by Ibrahim, Yusnidah, Uddin, Md Mohan, Taufil Mohd, Kamarun Nisham, Minai, Mohd Sobri

“…Debt issuers with more concentrated ownership are found to be benefitted from the issuancethrough the reduction of agency costs. …”
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Are multiple directorships benefits or costs to Malaysia listed companies? by Kamardin, Hasnah, Abdul Latif, Rohaida, Taufil Mohd, Kamarun Nisham, Che Adam, Noriah

“…Results of the study show that the incidence of multiple directorships is low.Independent directors are found to have more multiple directorships as opposed to the executive directors who have the least number of multiple directorships.Directors with multiple directorships are older directors, have less director ownership and are in board with high fraction of independent directors.Based on the 75% cut-off for the percentage of meetings’ attendance, the logistic regression shows that multiple directorships have the likelihood to attend less board meetings but the relationship is not significant.Instead the tendency to be absent from board meetings is associated with the high number of board meetings.The tendency to attend more board meetings is also shown to be associated with the increase in age, tenure, and director ownership.The findings somehow have policy implication on the corporate governance practices. …”
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Investors reaction to announcements of acquisition financed by common shares by Taufil Mohd, Kamarun Nisham, Wan Hussin, Wan Nordin, Abdul Latif, Rohaida

“…The purpose of this paper is to look at the interaction between tightness of ownership and method of payment by the way of common shares offerings on the stock returns of bidding firms in acquisitions. …”
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The wealth effect of dividend tax cuts: Evidence from the Malaysian reit's market by Wong, Woei Chyuan, Taufil Mohd, Kamarun Nisham, Abdullah, Nur Adiana Hiau

“…There are evidences to suggest that REITs with a higher retail and institutional ownership representing the main beneficiaries of these tax cuts are associated with higher cumulative abnormal returns (CARs). …”
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Firm characteristics' influence on the wealth effect of debt issue announcements in Malaysia by Ibrahim, Yusnidah, Taufil Mohd, Kamarun Nisham, Uddin, Md Mohan

“…Results indicate significant positive abnormal returns surrounding the debt issue announcements and that the wealth effect is influenced positively by managerial ownership but negatively influenced by asset tangibility, existing leverage and the level of free cash flows.…”
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Multiple directorships, board characteristics and firm performance in Malaysia by Abdul Latif, Rohaida, Kamardin, Hasnah, Taufil Mohd, Kamarun Nisham, Che Adam, Noriah

“…The multiple directorships affect firms’ market performance positively but not significantly.Ex government officials and founders have positive and significant influence on performance.Family ownership is significant and has U-shaped relationship with performance. …”
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Signaling and substitution hypotheses in Malaysian share repurchases by Abdul Latif, Rohaida, Taufil Mohd, Kamarun Nisham

“…In fact, repurchases are used to complement dividends.Further evidence shows that managerial ownership has significant influence on firms’ repurchase decisions.…”
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The wealth effects of dividend tax cuts: evidence from the Malaysian REIT’s market by Wong, Woei Chyuan, Taufil Mohd, Kamarun Nisham, Abdullah, Nur Adiana Hiau

“…Dividend tax reforms for REIT sector in Malaysia provide a rare opportunity to examine the impact of dividend taxation on firm valuation.It is found that dividend tax cut announcements result in positive abnormal returns.There are evidences to suggest that REITs with a higher retail and institutional ownership representing the main beneficiaries of these tax cuts are associated with higher cumulative abnormal returns (CARs).It is also found that dividend payout increased significantly during the quarter immediately after the implementation of the first dividend tax cuts. …”
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Announcement effects of dividend tax cuts and corporate policies: evidence from Malaysia REITs by Wong, Woei Chyuan, Taufil Mohd, Kamarun Nisham, Abdullah, Nur Adiana Hiau

“…This study examines the effect of dividend tax changes on the share prices and corporate policies of Malaysian REITs.Event study results show that dividend tax cut announcements provide positive abnormal returns.Based on cross-sectional regression, the abnormal returns are found to be larger for REITs with a higher retail ownership.The implementation of dividend tax cuts also increases dividend payout and reduce investment activities. …”
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Capital market reaction to equity private placement: The Malaysian experience 1999 - 2007 by Nordin, Norhafiza, Taufil Mohd, Kamarun Nisham

“…Cross-sectional analysis suggests that stock price reaction to the announcement of private placement can partly be explained by firm size, investment opportunity, change in ownership concentration and change in volume. While not ruling out other plausible explanations, it appears that the results of this study are the consequences of the regulation dictates that only two percent of issued shares may be granted to one placee.…”
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