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THE INFLUENCE OF BOARD CHARACTERISTICS ON FINANCIALLY DISTRESSED COMPANIES LISTED IN MAIN MARKET BURSA MALAYSIA


Companies may fall into financial distress due to a poor corporate governance such as poor management, lack of directors’ independence, poor leadership structure and incompetent directors. However, companies with good board characteristics may avoid the companies to fall into this financial distress situation. Prior studies had given mixed results on the board characteristics influence on financially distress companies. Thus, this study examined the influence of board characteristics on financially distressed companies listed in the Main Market of Bursa Malaysia. Board characteristics used in this study comprised of board independence, CEO Duality and Audit Committee members’ financial and industry expertise. The total sample data of 46 financial distress and 46 non-financially distress companies were collected from year 2013 until 2016 from Bursa Malaysia website. All data are taken to examine the influence of board characteristics with financial distress companies listed in Main Market of Bursa Malaysia. Binary logistic regression was used to test the relationship between each of board characteristics with financially distressed companies. The result of this study found that CEO Duality and Audit Committee members’ financial and industry expertise had negatively significant with financial distress companies. Meanwhile, board independence is not significant with financial distress companies. This study also found that board characteristics do have significant relationship with financially distressed companies listed in the Main Market of Bursa Malaysia. In addition, the findings of this study will contribute to the limited research regarding the influence of board characteristics on financially distressed listed companies, specifically in the context of Malaysia. Besides that, this study would also be useful for listed issuer and investors, in ensuring the companies have a sound governance through the good board characteristics. So that companies will not fall into financial distress situation.

  • SYAZANA ZAFIRAH BINTI SAHARUDDIN
  • June 2019
  • Master of Corporate Administration (MOCA)/GRAD ICSA
  • Shah Alam, Selangor
  • BILIK THESIS FSPPP, UiTM SHAH ALAM
  • 24
  • Completed
Supervisor

List of Supervisor

KHAMSI BINTI CHE ABDUL HAMID

Lecturer

Khamsi Che Abdul Hamid is a lecturer at Faculty of Administrative Science and Policy Studies, Universiti Teknologi MARA, Shah Alam Selangor.

khamsi che abdul hamidkhamsikhamsi hamid
  • Faculty of Administrative Science and Policy Studies
  • 03-55445997
  • Master in Corporate Administration

DR MAIZATUL AKMAL BINTI MUSA

About

DiTIS is a short form of FSPPP’s Dissertations and Theses Inventory System. Since the establishment of FSPPP, the faculty has produced volumes of post-graduate and undergraduate dissertations and/or theses. Therefore, there is a dire need to establish a database to manage these high volumes of dissertations and theses.

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