Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics

Diversification is a hugely popular growth strategy among Malaysian firms. However, in light of the diversification discount and subsequent refocusing efforts of Western firms in recent decades, it is essential to re-examine whether diversification creates value for firms critically. Addressing the...

Full description

Saved in:

Bibliographic Details
Main Author:	Lee, Chyn Hwa
Format:	Thesis
Language:	English
Published:	2023
Subjects:	LC5800-5808 Distance education.
Online Access:	http://eprints.usm.my/60185/1/24%20Pages%20from%20LEE%20CHYN%20HWA.pdf
Tags:	Add Tag No Tags, Be the first to tag this record!

id	my-usm-ep.60185
record_format	uketd_dc
spelling	my-usm-ep.601852024-03-14T03:10:02Z Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics 2023-02 Lee, Chyn Hwa LC5800-5808 Distance education. Diversification is a hugely popular growth strategy among Malaysian firms. However, in light of the diversification discount and subsequent refocusing efforts of Western firms in recent decades, it is essential to re-examine whether diversification creates value for firms critically. Addressing the diversification premium/discount conundrum, this study explores whether managerial ability influences the relationship between diversification and firm value. In addition, this study examines CEO personal attributes that are compatible with diversified firms, an aim motivated by the upper echelon theory. Furthermore, agency theory demonstrates that managers have the tendency to be involved in agency issues. Thus, this study investigates whether the moderating effect of managerial ability on the relationship between diversification and firm value will be further enhanced when firms have good corporate governance. The sample data includes all KLSE-listed firms across nine sectors: consumer products, construction, industrial products, technology, IPC, hotel, plantation, properties, as well as trading and services. Nine years (2009 to 2017) of firm annual data were collected from the Datastream/Worldscope database. Information on CEO attributes (age and education) and corporate governance (ratio of independent director and duality) was manually collected from annual reports. 2023-02 Thesis http://eprints.usm.my/60185/ http://eprints.usm.my/60185/1/24%20Pages%20from%20LEE%20CHYN%20HWA.pdf application/pdf en public phd doctoral Perpustakaan Hamzah Sendut Pusat Pengajian Jarak Jauh
institution	Universiti Sains Malaysia
collection	USM Institutional Repository
language	English
topic	LC5800-5808 Distance education.
spellingShingle	LC5800-5808 Distance education. Lee, Chyn Hwa Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics
description	Diversification is a hugely popular growth strategy among Malaysian firms. However, in light of the diversification discount and subsequent refocusing efforts of Western firms in recent decades, it is essential to re-examine whether diversification creates value for firms critically. Addressing the diversification premium/discount conundrum, this study explores whether managerial ability influences the relationship between diversification and firm value. In addition, this study examines CEO personal attributes that are compatible with diversified firms, an aim motivated by the upper echelon theory. Furthermore, agency theory demonstrates that managers have the tendency to be involved in agency issues. Thus, this study investigates whether the moderating effect of managerial ability on the relationship between diversification and firm value will be further enhanced when firms have good corporate governance. The sample data includes all KLSE-listed firms across nine sectors: consumer products, construction, industrial products, technology, IPC, hotel, plantation, properties, as well as trading and services. Nine years (2009 to 2017) of firm annual data were collected from the Datastream/Worldscope database. Information on CEO attributes (age and education) and corporate governance (ratio of independent director and duality) was manually collected from annual reports.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Lee, Chyn Hwa
author_facet	Lee, Chyn Hwa
author_sort	Lee, Chyn Hwa
title	Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics
title_short	Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics
title_full	Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics
title_fullStr	Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics
title_full_unstemmed	Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics
title_sort	diversification and firm value: analysing the role of managerial ability, corporate governance and ceo characteristics
granting_institution	Perpustakaan Hamzah Sendut
granting_department	Pusat Pengajian Jarak Jauh
publishDate	2023
url	http://eprints.usm.my/60185/1/24%20Pages%20from%20LEE%20CHYN%20HWA.pdf
_version_	1794024102693961728

Diversification And Firm Value: Analysing The Role Of Managerial Ability, Corporate Governance And Ceo Characteristics

Similar Items