Publication:
Firms' credit ratings and corporate governance in Malaysia: the importance of independence and financial competency for the board and the audit committee
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Date
2012
SDG:
Abstract
In the first two-thirds of the 1990s, Malaysia experienced rapid economic growth at an average annual Gross Domestic Product (GOP) growth of 8.5%; due to its financial liberalization policy that encourage greater participation of foreign direct investment and strengthening condition of exports. This rapid growth came to a halt with the onset of Asian financial crisis in mid-1997. During that time, the combination of sudden reversals in the net capital flow, exchange rate depreciation/devaluation, crash in stock market, fire sales on asset, corporate distress, and credit contraction lead the economy into recession.
Keywords
Credit ratings , Corporate governance , Board of director , Audit committee , Malaysia
Citation
Ng, Y. L., Muhamad Sori, Z., & Ramadili Mohd, S. M. (2012). Firms' credit ratings and corporate governance in Malaysia: the importance of independence and financial competency for the board and the audit committee. In Zulkarnain Muhamad Sori, Ridzwana Mohd Said, Mazrah Malek & Rosmila Senik (Eds.), Corporate governance practices in Malaysia (pp. 234-260). Serdang, Selangor: UPM Press.
Publisher
UPM Press