Bin Muhammed, A. and Stratling, R. and Salama, A. (2014) 'The impact of government investment organisations in Malaysia on the performance of their portfolio companies.', Annals of public and cooperative economics., 85 (3). pp. 453-473.
Research into the impact of government ownership on the financial performance of listed companies typically assumes the government to be a monolithic entity and fails to consider that government ownership rights are administered by different types of government organisations. Exploring the financial performance of government controlled listed companies we find that in Malaysia the impact of government ownership varies depending on the type of organisation, which manages the government’s ownership stakes. Taking into account golden share provisions as well as the presence of senior civil servants and of politicians on boards of directors, we find that firms controlled by investment organisations under federal government control tend to outperform firms controlled by regional governments’ investment organisations.
|Full text:||(AM) Accepted Manuscript|
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|Publisher Web site:||http://dx.doi.org/10.1111/apce.12047|
|Publisher statement:||This is the peer reviewed version of the following article: Bin Muhammed, A. Stratling, R. & Salama, A. (2014). The impact of government investment organisations in Malaysia on the performance of their portfolio companies. Annals of Public and Cooperative Economics, 85 (3): 453–473, which has been published in final form at http://dx.doi.org/10.1111/apce.12047. This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.|
|Date accepted:||No date available|
|Date deposited:||22 July 2014|
|Date of first online publication:||08 August 2014|
|Date first made open access:||08 August 2016|
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