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Moderating role of Shariah committee quality on relationship between board of directors effectiveness and the performance of Malaysian Takaful
Competitiveness Review Pub Date : 2022-01-11 , DOI: 10.1108/cr-09-2021-0123
Monther Eldaia 1 , Mustafa Hanefah 2 , Ainulashikin Marzuki 2
Affiliation  

Purpose

The purpose of this study is to examine the effect of Board of Directors Effectiveness (BODE) on the performance of Malaysian Takaful companies licensed by the Central Bank of Malaysia. In addition, the study investigates the moderating effect of Shariah Committee Quality (SCQ) on the relationship between BODE and companies’ performance.

Design/methodology/approach

This study uses a sample of 11 Malaysian Takaful companies during the period of 2010-2017. While BDE and SCQ are measured using indices, performance is proxied using ROA and ROE. A panel fixed effect regression analysis is used to test the impact of the BDE on the financial performance of Malaysian Takaful companies and the moderator role of SCQ.

Findings

The main finding of this study shows a positive association between BDE and performance. More specifically, boards with a high presence of independent, Muslim and female directors positively contribute to the performance of Malaysian Takaful companies. Another interesting finding is related to the positive moderating effect of SCQ on the relationship between BDE and performance. This result indicates that a high level of SCQ combined with a high level of board effectiveness improve performance.

Practical implications

The finding is of great importance to stakeholders and policymakers to improve their board effectiveness and the quality of the Shariah committee to reduce agency costs and to improve the performance of Malaysian Takaful companies.

Originality/value

This study adds to the prior literature by investigating for the first time the relationship between BDE and performance and the interaction effect of SCQ on the performance of Malaysian Takaful companies.



中文翻译:

伊斯兰教委员会质量对董事会效率与马来西亚回教保险业绩之间关系的调节作用

目的

本研究的目的是检验董事会效率 (BODE) 对马来西亚中央银行许可的马来西亚回教保险公司业绩的影响。此外,该研究调查了伊斯兰教法委员会质量 (SCQ) 对 BODE 与公司绩效之间关系的调节作用。

设计/方法/途径

本研究使用了 2010-2017 年期间 11 家马来西亚回教保险公司的样本。BDE 和 SCQ 使用指数来衡量,而绩效则使用 ROA 和 ROE 来表示。面板固定效应回归分析用于测试 BDE 对马来西亚回教保险公司财务业绩的影响以及 SCQ 的调节作用。

发现

这项研究的主要发现表明 BDE 与性能之间存在正相关关系。更具体地说,拥有大量独立、穆斯林和女性董事的董事会对马来西亚回教保险公司的业绩做出了积极贡献。另一个有趣的发现与 SCQ 对 BDE 与绩效之间关系的积极调节作用有关。这一结果表明,高水平的 SCQ 与高水平的董事会效率相结合可以提高绩效。

实际影响

这一发现对于利益相关者和政策制定者提高董事会效率和伊斯兰教法委员会的质量以降低代理成本和提高马来西亚回教保险公司的业绩具有重要意义。

原创性/价值

这项研究通过首次调查 BDE 与绩效之间的关系以及 SCQ 对马来西亚回教保险公司绩效的交互作用,对先前的文献进行了补充。

更新日期:2022-01-11
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