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Minister of Finance Incorporated: Ownership and Control of Corporate Malaysia

Editor

Listed:
  • Fisal, Fikri
  • Padmanabhan, Thirshalar

Author

Listed:
  • Gomez, Edmund Terence
  • Bhalia, Sunil
  • Kamaruddin, Norfaryanti

Abstract

This is a study of Malaysia’s new political economy, with a focus on ownership and control of the corporate sector. It offers a pioneering assessment of government-linked investment companies (GLICs), a type of state-owned institution that has long prevailed in the corporate sector but has not been analysed. Malaysia’s history of government-business ties is unique, while the nature of the nexuses between the state and the corporate sector has undergone major transitions. Corporate power has shifted from the hands of foreign firms to the state to the ruling party, and well-connected businessmen, and back to the state. Corporate wealth is now heavily situated in the leading publicly-listed government-linked companies (GLCs), controlled through block shareholdings by a mere seven GLICs under the jurisdiction of the Minister of Finance. To indicate why these GLICs are important actors in Corporate Malaysia, this study provides a deep assessment of their ownership and control of Bursa Malaysia’s top 100 publicly-listed enterprises.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Gomez, Edmund Terence & Bhalia, Sunil & Kamaruddin, Norfaryanti, 2018. "Minister of Finance Incorporated: Ownership and Control of Corporate Malaysia," Selected Books, CIRAD, Forest department, UPR40, edition 1, volume 1, number 21 edited by Fisal, Fikri & Padmanabhan, Thirshalar.
    • Handle: RePEc:epf:ecbook:21
    Note: 256pp, Palgrave Macmillan, https://doi.org/10.1007/978-981-10-4897-5, ISBN 978-981-10-4896-8
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    File URL: http://www.springer.com/cn/book/9789811048968
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    Citations

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    Cited by:

    1. Liew, Ping-Xin & Lim, Kian-Ping & Goh, Kim-Leng, 2018. "Foreign equity flows: Boon or bane to the liquidity of Malaysian stock market?," The North American Journal of Economics and Finance, Elsevier, vol. 45(C), pages 161-181.
    2. Ararat, Melsa & Claessens, Stijn & Yurtoglu, B. Burcin, 2021. "Corporate governance in emerging markets: A selective review and an agenda for future research," Emerging Markets Review, Elsevier, vol. 48(C).
    3. Chia, Yee-Ee & Lim, Kian-Ping & Goh, Kim-Leng, 2020. "Liquidity and firm value in an emerging market: Nonlinearity, political connections and corporate ownership," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    4. Liew, Chee Yoong & Devi, S.Susela, 2020. "Family Firms, Banks and Firm Value: Evidence from Malaysia," MPRA Paper 99704, University Library of Munich, Germany.

    Book Chapters

    The following chapters of this book are listed in IDEAS

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