Paper Title
Corporate Governance Best Practice Model in the Malaysian Tourism Small and Medium-Sized Enterprises
Abstract
The primary objective of the study is to develop a model of best practice for corporate governance in the Malaysian
TSMEs. The findings highlight nine corporate governance practices significantly derived as important component for the
TSMEs namely shareholders, top management, board of directors, ownership and board structure, conflict of interest,
stakeholders, social responsibility, remuneration and transparency. Based on these findings, a conceptual model has been
developed to present a standard practice for corporate governance in the Malaysian TSMEs. These practices play vital role in
managing the TSMEs toward achieving their strategies and objectives. The model contributes to the better and successful
management of TSMEs particularly since corporate governance has proven as vital aspect for SMEs growth. It is suggested
that further research should be conducted to investigate the significance of these practices to the successful management of the
TSMEs.
Keywords - Corporate governance, best practice model, Malaysian tourism small and medium-sized enterprises