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The Effect Of Owner’S Gender And Age To Firm Performance: A Review On Malaysian Public Listed Family Businesses

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  • Noor Afza Amran

    (Universiti Utara Malaysia)

Abstract

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

Suggested Citation

  • Noor Afza Amran, 2011. "The Effect Of Owner’S Gender And Age To Firm Performance: A Review On Malaysian Public Listed Family Businesses," Journal of Global Business and Economics, Global Research Agency, vol. 2(1), pages 104-116, January.
  • Handle: RePEc:grg:01biss:v:2:y:2011:i:1:p:104-116
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
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    1. repec:eee:fambus:v:8:y:2017:i:4:p:200-212 is not listed on IDEAS

    More about this item

    Keywords

    Owner; gender; age; family business; performance; Malaysia;

    JEL classification:

    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics

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