Ownership structure and concentration and the timeliness of corporate earnings : Malaysian evidence

Lim, Soon Hong (2012) Ownership structure and concentration and the timeliness of corporate earnings : Malaysian evidence. Masters by Research thesis, Queensland University of Technology.

Abstract

This thesis provides the first evidence on how ownership concentration and structure relate to the timeliness of price discovery and reporting lags in Malaysia. Based on a sample of 1,276 Malaysian firms from 1996 to 2009, the results show that ownership concentration and the identity of the largest shareholder matter to the timeliness of price discovery and reporting lags. Specifically, closely-held firms are more timely in their price discovery and have shorter reporting lags, particularly if the largest shareholder is a foreigner or a financial institution. Government-owned firms have longer reporting lags, as expected, but we find no evidence that family-owned firms have significantly different timeliness of price discovery and reporting lags than other firms. Additional analysis shows that prior to the implementation of the Malaysian Code of Corporate Governance, firms were more timely in their price discovery but longer in their reporting lag.

Impact and interest:

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ID Code: 52768
Item Type: QUT Thesis (Masters by Research)
Supervisor: How, Janice & Verhoeven, Peter
Keywords: timeliness, price discovery, corporate governance, ownership structure and concentration, largest shareholder, Malaysia
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Institution: Queensland University of Technology
Deposited On: 25 Jul 2012 05:49
Last Modified: 10 Sep 2015 02:13

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