TY  - JOUR
T1  - A Review on Family-Controlled Business Groups with Particular Reference to Corporate Governance in Malaysia
AU - Ng, Sin Huei AU - Teh, Boon Heng AU - Ong, Tze San AU - Soh, Wei Ni 
JO  - International Business Management
VL  - 8
IS  - 5
SP  - 268
EP  - 276
PY  - 2014
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2014.268.276
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2014.268.276
KW  - Family-controlled business groups
KW  -pyramidal structure
KW  -corporate governance
KW  -expropriation
KW  -agency problem
AB  - Within the publicly-listed corporate sector, forming business groups is a common 
  practice in family businesses in Malaysia. The formation of business groups 
  by controlling families can bring additional agency problems which do not exist 
  in Anglo-Saxon countries, particularly in the US and UK corporations. The expanded 
  control over a number of listed member firms made possible by business groups 
  increases the chances of expropriation of minority shareholders. The more complicated 
  the structure of the business group, the more serious the problem may be. This 
  is especially true in Malaysia where it is widely known that the controlling 
  families of many business groups, particularly the large ones have close relationship 
  with influential senior politicians or government officials. The relationship 
  provides political patronage and protection to facilitate the expropriation 
  activities by the owner-managers. The principal-principal problems can therefore, 
  be more serious. Thus, more understanding of the agency problems facing family-controlled 
  firms can be achieved by examining the business group affiliation issue in some 
  detail.
ER  -