This study investigates acquiring firms' values, measured by Tobin's q before and after a take-over event. The sample consists of 60 large take-overs by Malaysian public listed firms from 1990 to 1999. Using the agency theory framework, the impact of the identity of the dominant owner of the...

This paper examines the relationship between the ownership stakes of the largest shareholders and the post-take-over operating performance and firm values of the acquiring firms. It was found that the operating performance as measured by the control-adjusted cash flow returns rose as the largest...

This study analyses the performance of cross-border mergers and acquisitions (CBMAs) in five East Asian countries using the event study method and key financial ratios. Although the results for average abnormal returns in Indonesia and Korea were inconclusive, the results for Malaysia, Thailand...

The study examines the interaction effects of large shareholder, capital structure and diversification on firm value. The findings show that diversification is non-linearly related to firm value. Although relatively large shareholder is found to be accountable for the negative diversification,...

The nature of the firm theory framework (Putterman,1993): - asymmetric information, agency conflicts and risk are applied as explanatory variables in this study of 147 Malaysian main board firms. Two aspects of ownership structure-concentration and identities are discussed. The notion that...

The study addresses the argument of agency theory and transaction cost economics in one framework. It examines the interaction effects of large shareholders and diversification contingent on rent seeking environments such as intangible assets and industrial competition on firms' value. Based on...

The study investigates the inter-relationship between executive compensation, earnings management and over investment. Using a sample of 196 Malaysian public listed firms, the findings show a positive endogenous relationship between executive compensation and over investment. Measuring equity...