“…One of the reasons for this prominence is the events surrounding a series of recent US scandals and corporate failures of the late 1990s (Becht, Bolton & Roell, 2002). Existing studies have explored the relationship between corporate governance attributes and corporate performance in various countries, e.g., Australia (Balatbat, Taylor & Walter, 2004), China (Claessens & Djankov, 1999;Xu & Wang, 1999;Hovey, Li & Naughton, 2003;Bai, Liu, Lu, Song & Zhang, 2004;Li & Naughton, 2007), Italy (Alimehmeti & Paletta, 2012), Malaysia (Abdullah, 2006;Zakaria, Purhanudin & Palanimally, 2014;Abidin, Kamal & Jusoff, 2009), New Zealand (Fauzi & Locke, 2012), Spain (Arosa, Iturralde & Maseda, 2010), and the UK (Weir & Laing, 2001).…”