The relationship between board characteristics and firms value of companies listed on Yangon Stock Exchange (YSX)
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board characteristics, firm value, Yangon Stock Exchange (YSX)บทคัดย่อ
This study aimed to examine the relationship between board characteristics and firm value of companies listed on the Yangon Stock Exchange (YSX) in Myanmar, a market with relatively limited empirical evidence. This study employed panel data from eight listed companies over the period 2016-2024, totaling 54 firm-year observations. Descriptive statistics and multiple regression models were used to analyze the data. The results showed that financial expertise and CEO duality are positively related to firm value. In contrast, there was no significant association between other board characteristics-such as board size, board independence, and meeting frequency - and firm value. In addition, there was a negative relationship between firm size and firm value, whereas profitability measures had no significant effect. These results suggest that board quality, particularly financial expertise, plays a more crucial role than formal governance structures in enhancing firm value in this context.
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