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Firm ownership structures in emerging economies possess unique institutional arrangements and influence firm decisions in various ways. Firm decisions and investments are essential for a company to sustain. Primarily driven by the economic dimension, the traditional economic performance of companies is no longer sufficient in the modernised and competitive business environment. Focusing on short-term profits often ignores social and environmental impacts, giving rise to social problems, pollution, environmental degradation and global warming, among others. Corporate governance is a mechanism that can align the interests of various stakeholders and ensure a firm's long-term success. This study investigates the effect of family (FOWN) and government ownership (GOWN) on corporate sustainability performance (CSP) and the moderating role of corporate governance (CG), using data from 762 annual reports of Malaysian Public Listed Companies from 2020 to 2022. Results indicated a significant negative relationship between FOWN and CSP, while GOWN presented a significant positive relationship with CSP. The CG was also found to play an amplified role in the relationship between FOWN and CSP. However, the moderating role of CG failed to prevail in the association between GOWN and CSP. Additional analysis demonstrated that FOWN significantly and positively affected economic and environmental performance. In contrast, GOWN affected the environmental and social dimensions. The current study enriches people's understanding of how ownership and governance interact to drive sustainability outcomes, underlining the need for robust governance practices to improve sustainability in family and government-owned enterprises. [ABSTRACT FROM AUTHOR]

This paper examined six corporate governance variables which are hypothesized to have an influence on firm's financial performance in Malaysia. The variables encompassed four internal monitoring measures (CEO and chairman of the board, non-executive directors, audit committee and concentrated ownership) with the remaining two variables being external measures (institutional investors and lenders). An empirical study was conducted based on data involving 420 Malaysian listed companies over a four-year period from 2009 to 2012. A combination of cross-sectional and time-series data was employed in the analysis. An econometric model using panel data regression techniques was employed to analyse performance of the firms using both fixed effects and random effects models. Using return on equity as the dependent variable, it was established that CEO duality (an internal monitoring measure) significantly influences the performance of firms. The study showed that a CEO who is also chairman of the board exerts a positive influence on company earnings. It suggests that CEO duality could increase performance of firms when these CEOs dominate the decision-making process in their companies. None of the other monitoring measures relating to independent directors, institutional investors, ownership structures, audit committee and banks played any role in influencing firm performance. [ABSTRACT FROM AUTHOR]