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The impact of ownership concentration on firm sustainability: evidence from Malaysian top 200 public listed firms

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  • Norazlin Ahmad
  • Irene Wei Kiong Ting
  • Mohd Ridzuan Darun

Abstract

Larger companies cannot escape from facing financial distress, which eventually leads to insolvency and unsustainability. In this regard, this study examined the relationship between ownership concentration and firm sustainability of top 200 Malaysian public listed companies for the period between the years 2009 and 2015. The two-stage least squares regression results of this study showed that ownership concentration was significantly and negatively related to firm sustainability. This finding remained the same when different proxies of ownership concentration and firm sustainability were used. Generally, this finding indicated that excessive concentrated ownership may lead to decisions that did not satisfy all key shareholders, and may reduce the level of firm sustainability.

Suggested Citation

  • Norazlin Ahmad & Irene Wei Kiong Ting & Mohd Ridzuan Darun, 2020. "The impact of ownership concentration on firm sustainability: evidence from Malaysian top 200 public listed firms," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 22(3), pages 283-300.
    • Handle: RePEc:ids:ijbexc:v:22:y:2020:i:3:p:283-300
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    Cited by:

    1. Emmanuel Chuke Nwude & Musa Sani Zakirai & Comfort Amaka Nwude, 2023. "Ownership Structure and Bank Performance in Emerging Market Economy: Evidence From Nigerian Listed Deposit Money Banks," SAGE Open, , vol. 13(4), pages 21582440231, December.

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