Publication: The corporate governance determinants of financial distress : evidence from Malaysian industrial sector
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Date
2025-12-29
Authors
Intan Shufiany bt Zulkifli
Nina Nadhirah Bt Abd Wahab
Nur Ain Atikah bt Sajaratul Halim
Nurul Afiqah Binti Jamali
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Abstract
This study is aims to investigate the relationship between Corporate Governance (CG) determinants and financial distress among the industrial company in Malaysia. The five CG determinants that were identified are board size, board independent, CEO duality, director ownership, and director remuneration. The data is collected by annual report 2016 to investigate the CG determinants that contribute to financial distress or non-financial distress company. The sample for this study is 225 Industrial Companies in Malaysia. The financial distress is measured by Z-score model by Altman. The results show that board size and director ownership ship have a significant relationship with financial distress among industrial sector companies in Malaysia. The most significant corporate governance determinants in financial distress are board size and director ownership.
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Keywords
Corporate governance , Financial distress