{"title":"马来西亚金字塔结构中的模型代理问题","authors":"I. Malan, N. Salamudin","doi":"10.1109/ICIMTR.2012.6236486","DOIUrl":null,"url":null,"abstract":"The purpose of this research is to propose the models to examine the determinants of affiliation to pyramid firms and to investigate the effects of pyramid firms towards corporate value. Previous research have documented that in many East Asian firms, the ultimate owners showed a mismatch in cash flow rights and control rights which leads to expropriation of minority shareholders' interest. The method adapts Attig Model and the unit of study is pyramidal firms in Malaysia. It shows that there is a difference between cash flow rights and control rights among Malaysian pyramidal firms which bring negative implication towards corporate value.","PeriodicalId":117572,"journal":{"name":"2012 International Conference on Innovation Management and Technology Research","volume":"63 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2012-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Modelling agency problems in Malaysian pyramid structures\",\"authors\":\"I. Malan, N. Salamudin\",\"doi\":\"10.1109/ICIMTR.2012.6236486\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The purpose of this research is to propose the models to examine the determinants of affiliation to pyramid firms and to investigate the effects of pyramid firms towards corporate value. Previous research have documented that in many East Asian firms, the ultimate owners showed a mismatch in cash flow rights and control rights which leads to expropriation of minority shareholders' interest. The method adapts Attig Model and the unit of study is pyramidal firms in Malaysia. It shows that there is a difference between cash flow rights and control rights among Malaysian pyramidal firms which bring negative implication towards corporate value.\",\"PeriodicalId\":117572,\"journal\":{\"name\":\"2012 International Conference on Innovation Management and Technology Research\",\"volume\":\"63 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2012-05-21\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"2012 International Conference on Innovation Management and Technology Research\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/ICIMTR.2012.6236486\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"2012 International Conference on Innovation Management and Technology Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/ICIMTR.2012.6236486","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Modelling agency problems in Malaysian pyramid structures
The purpose of this research is to propose the models to examine the determinants of affiliation to pyramid firms and to investigate the effects of pyramid firms towards corporate value. Previous research have documented that in many East Asian firms, the ultimate owners showed a mismatch in cash flow rights and control rights which leads to expropriation of minority shareholders' interest. The method adapts Attig Model and the unit of study is pyramidal firms in Malaysia. It shows that there is a difference between cash flow rights and control rights among Malaysian pyramidal firms which bring negative implication towards corporate value.
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