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The Impacts of Culture and Corporate Governance on the Performance of Large Listed Companies in Malaysia

The purpose of this study is to examine the impact of culture and corporate governance on the performance of large listed companies in Malaysia. This study classifies culture into two perspectives i.e. ethnicity and management characteristics. Ethnicity is chosen because it may explain the impact of a particular racial or cultural group on firm performance. As for management characteristics, directors' characteristics such as age, education level, and tenure may explain their behaviours, attitudes, and choices, which in turn may affect firm performance. Board independence (independent non-executive directors), cross directorship, and board size are variables representing corporate governance. From the final sample of 89 companies, this study gathered information from annual reports for the year 2009. From the analysis, this study found that ethnicity does not have a significant impact on firm performance. As for management characteristics, older directors and directors with the appropriate level of education and skills would indirectly improve firm performance. For Malay-majority boards, board independence and large board size may contribute to a favourable firm performance. On the contrary, for Chinesemajority boards, all independent variables representing corporate governance related negatively with firm performance. Further, the relationship between board independence and firm performance (ROA and ROE) are negative and significant at 10% and 5% respectively. These results may be interpreted that too much emphasis on the role of independent directors may hinder board efficiency and effectiveness. The findings from this study may contribute to the accounting literature, research methodology and industry. Further, findings of this study may be useful for the investors in their decision-making.

The purpose of this study is to examine the impact of culture and corporate governance on the performance of large listed companies in Malaysia.

Performance Measurement and Management Control

Global Issues

This book colects representative papers from the sixth conference on Performance Measurement and Management Control held in Nice, in Spetember 2011. (preface)

This book colects representative papers from the sixth conference on Performance Measurement and Management Control held in Nice, in Spetember 2011. (preface)

Rethinking Performance Measurement

Beyond the Balanced Scorecard

Performance measurement remains a vexing problem for business firms and other kinds of organisations. This book explains why: the performance we want to measure (long-term cash flows, long-term viability) and the performance we can measure (current cash flows, customer satisfaction, etc.) are not the same. The 'balanced scorecard', which has been widely adopted by US firms, does not solve these underlying problems of performance measurement and may exacerbate them because it provides no guidance on how to combine dissimilar measures into an overall appraisal of performance. A measurement technique called activity-based profitability analysis (ABPA) is suggested as a partial solution, especially to the problem of combining dissimilar measures. ABPA estimates the revenue consequences of each activity performed for the customer, allowing firms to compare revenues with costs for these activities and hence to discriminate between activities that are ultimately profitable and those that are not.

his chapter introduces the role of people in performance measurement. It
explores how performance measures change as people use them. The focus, in
other words, is more on what people do to measures than what measures do to
people.

Performance Measurement and Management

A Strategic Approach to Management Accounting

Management accountancy has a dynamic role to play in the competitive strategy of modern global businesses. This book sets out key strategic principles and then assesses how management accountancy can affect and direct these strategies. Engaging case studies reveal how theories and concepts translate into real business practice. Throughout, the book emphasizes: - how accounting initiatives can trigger assessment and improvement of performance management - the importance of managerial decision making to good business practice - how today's management accountancy measures against current research Written for advanced undergraduate, postgraduate and MBA students taking courses on management accounting and performance measurement and management, the book will be also of interest to management and business consultants, professional accountants and accounting academics.

Measurement practices, current and possible, pervade all of these issues, and
we are closely concerned with improvements in performance measurement and
all its implications. We accept that we cannot manage what we cannot measure, ...

Investment Performance Measurement

This book is split into four distinct sections to provide a complete account of investment performance measurement. The first section examines the development of the concept of performance measurement with the evolution of benchmarks and the increasing sophistication of performance analysis. The practical implications of performance measurement are tackled in the second section, with particular emphasis on the calculations that can be used to derive a rate of return for a fund and risk is also examined in detail. The third section covers the performance measurement of pension funds over the last 25 years and the lessons that can be learned about the investment performance and measurement process. The final section considers the future prospects for performance measurement and proposes potential future directions for the measurement of investment performance.

This in turn will promote the effective construction, selection and use of samples
and benchmarks for the measurement and evaluation of investment performance.
In principle there should be little to prevent these standards being established ...

Performance Measurement

Building Theory, Improving Practice

This volume in the "ASPA Classics" series compiles the most influential contributions to the theory and practice of performance measurement that have been published in various journals affiliated with the American Society for Public Administration. The book includes major sections of original text along with the readings, and provides students and practitioners with a handy reference source for theory development and practice improvement in performance measurement. The coverage is broad, including methods and techniques for developing effective performance measurement systems, building performance-based management systems, and sustaining performance-based budgeting. The articles are all classics in the field that have endured the test of time and are considered 'must reads' on performance measurement.

INTRODUCTION The interest that performance measurement has garnered in
the public sector is evident in federal and state legislation requiring organizations
to measure and report performance. The status of performance measurement in ...