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Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note

Purpose The purpose of this paper is to ascertain whether different types of institutional investor in Malaysia are involved in the corporate governance of their investee companies, and, if yes, to what extent is the level of the involvement. Design/methodology/approach A qualitative approach,...

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Main Author: Annuar, Hairul Azlan
Format: Article
Language:English
English
Published: Emerald Group Publishing Limited 2015
Subjects:
HF5601 Accounting. Bookkeeping
Online Access:http://irep.iium.edu.my/45728/1/45728.pdf
http://irep.iium.edu.my/45728/4/45728_changes_in_ownership_scopus.pdf
http://irep.iium.edu.my/45728/
http://www.emeraldinsight.com/doi/full/10.1108/JAOC-08-2012-0068
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spelling my.iium.irep.457282017-11-29T08:33:31Z http://irep.iium.edu.my/45728/ Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note Annuar, Hairul Azlan HF5601 Accounting. Bookkeeping Purpose The purpose of this paper is to ascertain whether different types of institutional investor in Malaysia are involved in the corporate governance of their investee companies, and, if yes, to what extent is the level of the involvement. Design/methodology/approach A qualitative approach, consisting of a series of interviews with 18 senior investment managers of different types of institutional investor, was chosen. Findings The findings suggest that lessons learnt from the fallout of the Asian crisis has made Malaysian institutional investors not only to be more prudent in managing their total funds and in making equities investment decisions, but has resulted in a more active participation in their ‘core’ investee companies apart from merely discharging their voting rights. Interview analysis revealed that government linked investment companies are championing the cause and could possibly affect the overall level of institutional investors’ involvement, which bode well for the future of the corporate governance system of the country. Research limitations/implications Generalisations may be an issue when interviews are used as the method of inquiry. Also, the sample is not random as access to many managers depended on recommendations. In addition, respondents were consciously selected in order to obtain different types of institutional investors that included government and non-government linked. Originality/value There is a lack of work on studying the involvement of institutional investors in developing countries, whereby previous work and literature review were predominantly based upon the experience of Western economies. Emerald Group Publishing Limited 2015 Article REM application/pdf en http://irep.iium.edu.my/45728/1/45728.pdf application/pdf en http://irep.iium.edu.my/45728/4/45728_changes_in_ownership_scopus.pdf Annuar, Hairul Azlan (2015) Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note. Journal of Accounting & Organizational Change, 11 (4). pp. 455-475. ISSN 1832-5912 http://www.emeraldinsight.com/doi/full/10.1108/JAOC-08-2012-0068
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic HF5601 Accounting. Bookkeeping
spellingShingle HF5601 Accounting. Bookkeeping
Annuar, Hairul Azlan
Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note
description Purpose The purpose of this paper is to ascertain whether different types of institutional investor in Malaysia are involved in the corporate governance of their investee companies, and, if yes, to what extent is the level of the involvement. Design/methodology/approach A qualitative approach, consisting of a series of interviews with 18 senior investment managers of different types of institutional investor, was chosen. Findings The findings suggest that lessons learnt from the fallout of the Asian crisis has made Malaysian institutional investors not only to be more prudent in managing their total funds and in making equities investment decisions, but has resulted in a more active participation in their ‘core’ investee companies apart from merely discharging their voting rights. Interview analysis revealed that government linked investment companies are championing the cause and could possibly affect the overall level of institutional investors’ involvement, which bode well for the future of the corporate governance system of the country. Research limitations/implications Generalisations may be an issue when interviews are used as the method of inquiry. Also, the sample is not random as access to many managers depended on recommendations. In addition, respondents were consciously selected in order to obtain different types of institutional investors that included government and non-government linked. Originality/value There is a lack of work on studying the involvement of institutional investors in developing countries, whereby previous work and literature review were predominantly based upon the experience of Western economies.
format Article
author Annuar, Hairul Azlan
author_facet Annuar, Hairul Azlan
author_sort Annuar, Hairul Azlan
title Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note
title_short Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note
title_full Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note
title_fullStr Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note
title_full_unstemmed Changes in ownership forms and role of institutional investors in governing public companies in Malaysia: a research note
title_sort changes in ownership forms and role of institutional investors in governing public companies in malaysia: a research note
publisher Emerald Group Publishing Limited
publishDate 2015
url http://irep.iium.edu.my/45728/1/45728.pdf
http://irep.iium.edu.my/45728/4/45728_changes_in_ownership_scopus.pdf
http://irep.iium.edu.my/45728/
http://www.emeraldinsight.com/doi/full/10.1108/JAOC-08-2012-0068
_version_ 1643612844787236864
score 13.211869

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