Ownership Structure and Post-Takeover Performance of Malaysian Acquiring Firms

摘要

This study examines the interaction effects of firms' family ownership and the largest shareholders of corporate acquirers and how these influence the post-takeover performance of Malaysian public listed firms. The post-takeover performances of the acquiring firms are found to be contingent on the concentration of the largest shareholders and of family ownership. The evidence suggests that agency problems associated with takeovers are reduced through ownership concentration and family holdings.