Lee, Kian Tek * and Hooy, C. W. (2018) Ownership identity and mitigation of diversification discount: Evidence from Malaysia. Malaysian Journal of Economic Studies, 55 (1). pp. 97-113. ISSN 1511-4554
Full text not available from this repository.Abstract
This paper examines the mitigation effect of the ultimate ownership identity on the diversification discount under the emerging market’s institutional setting. Using a sample of non-financial listed firms in Malaysia from 2002 to 2013, the study reveals that government ultimate ownership is able to mitigate the diversification discount better than family ultimate ownership by 5 to 43 percent, whereas family ultimate ownership is better than foreign ultimate ownership in mitigating the diversification discount by 30 to 118 percent. Our study also finds that a high degree of ownership concentration gives rise to the diversification discount.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Diversification; firm value; GMM; ownership identity |
| Subjects: | H Social Sciences > HF Commerce |
| Divisions: | Others > Non Sunway Academics Sunway University > Sunway Business School [formerly Sunway University Business School until 2023] > Dept. Economics & Finance |
| Depositing User: | Dr Janaki Sinnasamy |
| Related URLs: | |
| Date Deposited: | 01 Oct 2020 01:31 |
| Last Modified: | 01 Oct 2020 07:10 |
| URI: | http://eprints.sunway.edu.my/id/eprint/1404 |
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