The Effect Of Owner’S Gender And Age To Firm Performance: A Review On Malaysian Public Listed Family Businesses
There are lack of studies that discuss the importance of owner’s gender and age with firm performance. Thus, the objective of this study is to examine the relationship between owner’s gender and age with the business performance, which is measured using Tobin’s Q (Q) and Earnings Per Share (EPS). This study uses secondary data approach. The sample size is 182 Malaysian family companies listed on Bursa Malaysia over the period of 2003 to 2007. Findings from this study show that there is a difference between male-led and female-led companies with firm performance. Male owners are found to enhance greater firm value than female owners, when based on the market value (Tobin’s Q). In term of owner’s age, both the market value (Q) and accounting value (EPS) do show a negative relationship with business performance. This explains that matured owners are found to be underperformed, while the young owners are more aggressive in enhancing the firm value. Interestingly, the findings have shown that factors such as owner’s gender and age do enhance company performance, especially for Malaysian family businesses. Regulators, stakeholders and potential investors need to be alert that gender and age plays an important role in the family company success
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Evans, David S, 1987.
"Tests of Alternative Theories of Firm Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 95(4), pages 657-674, August.
- Evans, David S., 1986. "Tests of Alternative Theories of Firm Growth," Working Papers 86-36, C.V. Starr Center for Applied Economics, New York University.
- Smith, Brian F. & Amoako-Adu, Ben, 1999. "Management succession and financial performance of family controlled firms," Journal of Corporate Finance, Elsevier, vol. 5(4), pages 341-368, December.
- Roszaini Haniffa & Mohammad Hudaib, 2006. "Corporate Governance Structure and Performance of Malaysian Listed Companies," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(7-8), pages 1034-1062.
- Dunne, Paul & Hughes, Alan, 1994. "Age, Size, Growth and Survival: UK Companies in the 1980s," Journal of Industrial Economics, Wiley Blackwell, vol. 42(2), pages 115-140, June.
- Fischer, Eileen M. & Reuber, A. Rebecca & Dyke, Lorraine S., 1993. "A theoretical overview and extension of research on sex, gender, and entrepreneurship," Journal of Business Venturing, Elsevier, vol. 8(2), pages 151-168, March.
- Farrell, Kathleen A. & Hersch, Philip L., 2005. "Additions to corporate boards: the effect of gender," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 85-106, March. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:grg:01biss:v:2:y:2011:i:1:p:104-116. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (editor)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.