Developing a framework of corporate governance best practice for the Malaysian tourism small and medium-sized enterprises

• Main Authors: Mohd Shariff, Nurhazani, Zainol Abidin, Azlan, Bahar, Mohd Roslee
• Format: Article
• Language: English
• Published: 2018
• Subjects: GV Recreation Leisure
• Online Access: http://repo.uum.edu.my/26375/1/gjtg%20XI%2022%202%202018%20447%20454.pdf; http://repo.uum.edu.my/26375/; http://doi.org/10.30892/gtg.22214-301
• Institution: Universiti Utara Malaysia

This paper presents a framework for corporate governance best practice in Malaysia tourism small and medium-sized enterprises (TSMEs). Based on the reviewed literature regarding TSMEs and corporate governance, this paper presents nine major elements of corporate governance best practice in a form of framework namely; Shareholders, Ownership and Board Structure, Top Management, Board of Directors, Conflict of Interest, Stakeholders, Social Responsibility, Remuneration and Transparency. The implementation and adaptation of this framework in managing TSMEs would significantly assist the administration, management and shareholders to accomplish and achieve performance excellence. Additionally, the framework would also contribute as guideline which could be used for further research in determining whether these elements are being practiced by the TSMEs Board of Directors.