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An empirical examination of family-managed firms and non-family-managed firms: evidence from Malaysia


Mustapha, Mazlina and Imam Muslim, Zurimah (2013) An empirical examination of family-managed firms and non-family-managed firms: evidence from Malaysia. Pertanika Journal of Social Sciences & Humanities, 21 (spec. Oct.). pp. 99-110. ISSN 0128-7702; ESSN: 2231-8534


The purpose of this study is to explore the firm characteristics of family-managed firms in Malaysian public-listed firms. Selected firms were matched for size and industry before comparisons were made between the family-managed firms and non-family-managed firms. The data were collected using secondary sources. Various firm characteristics were investigated. The findings indicate that firms managed by families have a significantly larger board size, higher number of non-independent directors and executive directors and their directors have significantly longer experience working in the firm. However, the results suggest that the directors of these family-managed firms significantly lack professional qualification and tend to have fewer meetings compared to those directors in non-family-managed firms. The findings also indicate that the compensations paid to the executive directors of family-managed firms are significantly higher than those paid to executive directors of non-family managed firms. The results also suggest that these firms have not utilised their assets efficiently to generate sales compared to their non-family-business counterparts.

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Additional Metadata

Item Type: Article
Divisions: Faculty of Economics and Management
Publisher: Universiti Putra Malaysia Press
Keywords: Family managed firms; Firm characteristics; Malaysia
Depositing User: Nabilah Mustapa
Date Deposited: 29 Apr 2015 06:10
Last Modified: 21 Sep 2015 02:52
URI: http://psasir.upm.edu.my/id/eprint/28354
Statistic Details: View Download Statistic

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