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Board structure and firm value: a study on listed banking firms in the Asian emerging markets

Author

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  • Abdul Hadi Zulkafli
  • Azlan Amran
  • M. Fazilah Abdul Samad

Abstract

The banking sector in developing countries is regarded as an engine of economic growth (Arun, 2004). It is believed that corporate governance is necessary to ensure a sound financial system and, consequently, help develop the country's economy. Using a Pooled Generalised Least Squares (GLS) regression model, the relationship between board structure and bank's performance is analysed. A total of 107 listed banks in nine countries of the Asian emerging markets were included in the study. It is evidenced that only one aspect of board structure, which is CEO Duality, is positively significant, with market-based corporate performance.

Suggested Citation

  • Abdul Hadi Zulkafli & Azlan Amran & M. Fazilah Abdul Samad, 2010. "Board structure and firm value: a study on listed banking firms in the Asian emerging markets," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 5(3), pages 157-177.
    • Handle: RePEc:ids:ijbget:v:5:y:2010:i:3:p:157-177
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    Citations

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    Cited by:

    1. Faozi A. Almaqtari & Hamood Mohd. Al-Hattami & Khalid M. E. Al-Nuzaili & Mohammed A. Al-Bukhrani, 2020. "Corporate governance in India: A systematic review and synthesis for future research," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1803579-180, January.
    2. Alharbi, Rana & Elnahass, Marwa & McLaren, Josie, 2022. "Women directors and market valuation: What are the “Wonder Woman” attributes in banking?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).
    3. Kaodui Li & Yusheng Kong & Sampson Agyapong Atuahene & Geoffrey Bentum-Micah & Michael Kwakye Agyapong, 2020. "Corporate Governance and Banking Stability: The Case of Universal Banks in Ghana," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 325-352.
    4. Evans Macheroochego & Job Omagwa & Stephen Muathe, 2020. "Corporate Governance Strategy and Firm Value in the Context of Commercial Banks in Kenya," Post-Print hal-02542954, HAL.
    5. Marwa Elnahass & Kamil Omoteso & Aly Salama & Vu Quang Trinh, 2020. "Differential market valuations of board busyness across alternative banking models," Review of Quantitative Finance and Accounting, Springer, vol. 55(1), pages 201-238, July.

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