Norazlin, Ahmad and Irene, Wei Kiong Ting and Tebourbi, Imen and Kweh, Qian Long (2022) Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education. Eurasian Business Review. pp. 1-23. ISSN 2147-4281. (Published)
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Abstract
We investigate the non-linearity between family control and firm financial sustainability and the manner in which CEO tenure and education moderate the non-linear relationship. We apply fixed-effects panel regression and several alternative tests, including two-stage least squares, in studying 2844 firm-year observations of Malaysian publicly listed firms during the period 2009–2019. We find a non-linear U-shaped relationship between family control and firm financial sustainability. Specifically, once levels of family control exceed a certain threshold, the relationship between family control and firm financial sustainability becomes positive. Moreover, CEO tenure and education moderate this non-linearity. That is, when family control is at a low (high) level, both moderators lessen (increase) the negative (positive) effects of family control on firm financial sustainability.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | CEO tenure · CEO education · Family control · Firm fnancial sustainability · Non-linearity · Malaysia |
| Subjects: | H Social Sciences > HF Commerce |
| Faculty/Division: | Faculty of Industrial Management Institute of Postgraduate Studies |
| Depositing User: | Noorul Farina Arifin |
| Date Deposited: | 29 Apr 2022 08:24 |
| Last Modified: | 25 May 2022 02:36 |
| URI: | http://umpir.ump.edu.my/id/eprint/33943 |
| Download Statistic: | View Download Statistics |
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