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- Business enterprises--Malaysia--Finance (2)
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Articles 1 - 30 of 80
Full-Text Articles in Corporate Finance
Enterprise Risk Management And Firm Performance In China: The Moderating Role Of Risk Management Committee, Liang Yankun
Enterprise Risk Management And Firm Performance In China: The Moderating Role Of Risk Management Committee, Liang Yankun
Student Works (2020-2029)
Risk management has increasingly become an interesting topic among the academicians and industry practitioners, following the 2008 global financial crisis. Motivated from the growing evidence of the significant role of Enterprise Risk Management (ERM) in improving firm performance, this study examines the relationship between ERM and firm performance in the context of China. Furthermore, this study explores the moderating role of risk management committee (RMC) on the relationship between ERM and firm performance in China. Drawing upon 94 public listed firms on the Shanghai Stock Exchange from 2018 to 2021, this study finds that ERM has significantly and positively affects …
Ownership Structure And Corporate Tax Avoidance In Malaysia: The Moderating Role Of Multinational Corporation Status, Tan Shu Qi
Student Works (2020-2029)
This study examines the relationship between ownership structure and corporate tax avoidance among Malaysian publicly listed firms, with particular emphasis on the moderating role of multinational corporation (MNC) status. Drawing on agency theory, the study investigates how three ownership types government ownership, managerial ownership, and institutional ownership influence firms’ tax avoidance behaviour. Using a quantitative research design, the study analyses panel data from 885 non-financial companies listed on Bursa Malaysia’s Main Market over the post-COVID-19 period from 2021 to 2023. Tax avoidance is proxied using adjusted effective tax rates (ETRadjusted), and panel regression techniques are employed to test the hypothesised …
Esg And Firm Performance In China: The Moderating Role Of Firm Size And Covid-19, Peng Dan
Esg And Firm Performance In China: The Moderating Role Of Firm Size And Covid-19, Peng Dan
Student Works (2020-2029)
This study examines the relationship between Environmental, Social, and Governance (ESG) performance and firm performance in China's A-share listed companies, with a particular focus on the moderating roles of firm size and the COVID-19 pandemic. Drawing on stakeholder theory, the research investigates whether ESG activities contribute positively to firm performance, and how this relationship varies with firm size and during crisis periods. The sample consists of Chinese A-share firms from 2019 to 2023, a period that includes the COVID-19 pandemic. After data processing, there are a total of 14,186 observations over the five-year period. Firm performance is measured using both …
The Role Of Non-Governmental Organisations In Social Sustainability: The Case Of Maybank, Fatin Amirah Suhaimi
The Role Of Non-Governmental Organisations In Social Sustainability: The Case Of Maybank, Fatin Amirah Suhaimi
Student Works (2020-2029)
This study attempts to understand the roles of secondary stakeholders, namely the NGOs, in the dimensional perspective of social sustainability. It also investigates communication strategies evolved over the years by the NGOs in social sustainability and to the extent of which such communications are able to exert their influences on the banking industry in Malaysia. This is a case study concept and uses secondary data as a data collection. The qualitative content analysis is performed to validate a theoretical framework using data from Twitter and online news that is related to the subject of this study, which is the Malayan …
Examining Factors Influencing Behavioural Intention Of Managers In Fraudulent Financial Reporting: Evidence From Pakistan, Riaz Ahmed
Student Works (2020-2029)
The modern business world is substantially full of risks and challenges that the global crimes and illegal financial activities are growing rapidly. All the stakeholders such as the owners, shareholders, investors, and regulators have raised much concern over increasing number of corporate scandals. The growth of irregular accounting transactions, business scandals, and fraudulent financial reporting has developed a milieu of mistrust among the businesses and their stakeholders while making financial reporting decisions. It is essential to understand the fundamental factors related to unethical financial reporting intentions of corporate managers. This study aims to (1) examine the influence of managers� attitudes …
Moderating Role Of Gender Diversity Over The Nexus Between Board Characteristics And Earnings Management In Malaysia, Tonoy Roy
Student Works (2020-2029)
In a large number of studies, it has been found that accounting manipulation is more prone to exist among the financially distressed companies. The manipulation moves were taken by the top management to portray a rosy picture of the firm
Ownership Structure, Corporate Governance And Earnings Management In China, Li Honglin
Ownership Structure, Corporate Governance And Earnings Management In China, Li Honglin
Student Works (2020-2029)
To address the inherent inefficiencies of state-owned enterprises (SOEs), China has adopted partial and gradual privatization reforms and a series of corporate governance reforms, such as introducing independent directors and audit committees, and reestablishing audit firms. These reforms have resulted in the emergence and rise of private-owned enterprises (POEs) and improved the management efficiency of SOEs in China. Driven by the stronger earnings management motivations of POEs and the potentially greater effect of corporate governance in POEs, this study is conducted to examine whether Chinese SOEs perform a lower level of earnings management than Chinese POEs and whether corporate governance …
The Moderating Roles Of Ownership Concentration And Foreign Ownership On Enterprise Risk Management And Firm Performance, Zhang Lan Jun
The Moderating Roles Of Ownership Concentration And Foreign Ownership On Enterprise Risk Management And Firm Performance, Zhang Lan Jun
Student Works (2020-2029)
This study examines the relationship between enterprise risk management, firm performance, and the moderating role of ownership concentration and foreign ownership on the relationship between enterprise risk management and enterprise performance. The study uses 6015 listed firms in the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) from 2016 to 2018. The results indicate that enterprise risk management significantly influences both short-term and long-term firm performance based on multiple regression and panel data analysis. The study also found that ownership concentration positively moderates the relationship between enterprise risk management and both short-term and long-term firm performance. However, foreign …
Power Elites And State-Business Relations: Malaysia-China Selected Belt And Road Initiative Projects, Khaw Mooi Hock
Power Elites And State-Business Relations: Malaysia-China Selected Belt And Road Initiative Projects, Khaw Mooi Hock
Student Works (2020-2029)
This study focuses on state-state-business ties, a new phenomenon shaped by how local power elites (LPEs) collaborate with Chinese transnational corporate elites (TCEs) to implement infrastructure projects related to China’s Belt and Road Initiative (BRI). These LPE-TCE links, in turn, have led to the creation of novel forms of state-business relations (SBRs), with diverse outcomes and implications. In Malaysia, these state-state-business ties, forged by both countries for their respective business enterprises, were primarily a consequence of an interesting confluence of two major events, which took place between 2014 and 2016: 1) Malaysia’s 1Malaysia Development Berhad (1MDB) scandal; and 2) the …
The Impact Of Institutional Factors And Ifrs On The Value Relevance Of Accounting Information: Evidence From Ah Shares, Zou Feng
Student Works (2020-2029)
The study investigates whether institutional factors affect the value relevance of accounting information of Chinese cross-listed firms during the years 2000 to 2013. It covers the last two sets of China's accounting standards – both the Accounting System for Business Enterprises (ASBE) released in 2001 and the revised version in 2006. Specifically, the study concentrates on whether the IFRS convergence is associated with the incremental improvement on the value relevance of accounting information, and how the institutional factors affect the value relevance of these cross-listed firms. It is now well established from various studies that IFRS convergence would improve the …
Sustainability Balanced Scorecard Architecture And Environmental Investment Decision Making: The Mediating And Moderating Effects Of Knowledge And Risk Indicators, Suaad Jassem
Student Works (2020-2029)
According to a survey by Bain and Company, the majority of the sustainability programs undertaken by global companies fail to meet their objectives. A part of the reason for such a dilemma is possibly due to the dearth of sufficient research on how investment and performance evaluation tools such as sustainability balanced scorecards architecture impact decisions taken by managerial decision-makers. Hence, this doctoral research endeavor extends the literature on sustainability balanced scorecards (SBSC) architecture by examining how they influence decision-makers when they attempt to achieve environmental goals of their organization through evaluation of environmental investment options. An experimental research model …
The Effect Of Corporate Governance Mechanisms And Their Interactions On Earnings Quality, Nasrin Azar
The Effect Of Corporate Governance Mechanisms And Their Interactions On Earnings Quality, Nasrin Azar
Student Works (2020-2029)
Corporate governance (CG) mechanisms play an essential role in improving financial reporting quality, especially earnings quality. Due to corporate failures around the world, there has been a renewed interest in the effect of CG on earnings quality. The primary objectives of this thesis are to (1) investigate the impact of CG characteristics on earnings quality, and (2) examine whether the interactions between CG mechanisms influence earnings quality. Based on the agency and resource dependence theories, this study develops and examines ten main hypotheses (23 sub-hypotheses) to achieve these objectives. This study identifies CG mechanisms such as the board of directors, …
Stock Liquidity Of Malaysian Public Listed Firms, Yee Ee Chia
Stock Liquidity Of Malaysian Public Listed Firms, Yee Ee Chia
Student Works (2020-2029)
This thesis is motivated by the limited research on the liquidity of Malaysian public listed firms, the growing number of liquidity horseraces, the recent data commercialization by Bursa Malaysia, and liquidity-enhancing policies being spearheaded mainly by stock exchange regulators in emerging markets. By assembling information that covers 1250 public listed non-financial firms over 2000–2015, the thesis conducts three empirical analyses on the determinants of firm liquidity and the effects of higher liquidity on firm valuation, where liquidity is proxied by the “Closing Percent Quoted Spreads” (CPQS). First, the thesis revisits the standard liquidity model and advocates the inclusion of shareholder …
Board Of Directors’ Characteristics And Corporate Sustainability Performance: A Mediating Role Of Internal Control Mechanisms, Fakir A N M Asaduzzaman
Board Of Directors’ Characteristics And Corporate Sustainability Performance: A Mediating Role Of Internal Control Mechanisms, Fakir A N M Asaduzzaman
Student Works (2020-2029)
The purpose of this study is to propose a framework and thereafter examine the relationship among the board of directors’ characteristics, internal control mechanisms, and corporate sustainability performance. In particular, it aims to uncover how the board specific characteristics influence internal control, which, ultimately, would enhance the sustainability performance of publicly listed companies. The premise of the resource dependence theory is utilized to identify the board characteristics that may influence the sustainability performance; namely, size, composition, leadership, ownership, diversity, and expertise. Inspired by the fit as mediation notion of contingency theory, the mediating role of internal control mechanisms, proxied by …
Initial Public Offerings And Pricing Anomalies, Hon Wei Leow
Initial Public Offerings And Pricing Anomalies, Hon Wei Leow
Student Works (2020-2029)
Initial Public Offering (IPO) is a form of fundraising through the stock market of which has evolved as an essential platform to study the performance of newly issued shares. In the case of an emerging market like Malaysia, the pricing anomalies that measure the performance of initial return and flipping activity of IPO remain an interesting subject. During the period of Global Financial Crisis (GFC) in 2008-09, it is believed that the market sentiment will affect the initial return of new IPO and oversubscription will be negative, and hence firms will be unwilling to do the new listing on the …
Dividend Policy In Public Listed Companies In Emerging Markets : The Case Of Malaysia., Nikoo Karimi Shahri
Dividend Policy In Public Listed Companies In Emerging Markets : The Case Of Malaysia., Nikoo Karimi Shahri
Student Works (2010-2019)
Despite a half century of research, the determinants of the dividend policy are still a controversial topic in finance. Companies often inform the investors about the firm’s dividend policy and the changes in dividend payments. Investors have to know about the firms that pay a high level of dividends. Numerous studies have been done and theories have been proposed, but no unanimous results have been reached about the factors that influence the dividend policy of a firm. The present study examines the determinants of the dividend policy in public listed companies in Malaysia as a case study of an emerging …
Value Versus Growth Stocks In Malaysia., Anwarruddin Shah Hezan Shah
Value Versus Growth Stocks In Malaysia., Anwarruddin Shah Hezan Shah
Student Works (2010-2019)
This research paper examines the performance of value and growth stocks in Malaysia. Specifically I examine the performance of value and growth stock portfolio for the period of 5 years after its formation. Further analysis is done using the traditional risk-adjusted measure on these two categories of portfolios. My finding shows that although value portfolio proved to yield higher returns compared to growth portfolio, it is not significantly so. This conspicuously indicates that the value investing method in Malaysia does not yield the similar results as obtained by previous studies in other countries.
Government Ownership And Corporate Performance : A Comparative Analysis Of Malaysian And Singaporean Listed Companies., Nazrul Hisyam Ab Razak
Government Ownership And Corporate Performance : A Comparative Analysis Of Malaysian And Singaporean Listed Companies., Nazrul Hisyam Ab Razak
Student Works (2010-2019)
This study investigates whether government involvement in companies in the Malaysian and Singaporean business environments leads to better performance. The motivation to undertake this study –to compare the performance of GLCs with Non-GLCs – came from the idea that managers probably perform differently in the presence (or absence) of government involvement because of the different control mechanisms and incentives in place within these companies. Consequently, this study aims to determine whether government ownership of companies in Malaysia and Singapore leads to better company performance. The significance of this study is to examine how Malaysian GLCs can learn from a developed …
Privatization And Firms Performance : Evidence From Iran., Ali Aghaei
Privatization And Firms Performance : Evidence From Iran., Ali Aghaei
Student Works (2010-2019)
Our comprehensive study of 87 Iran companies, consist of 26 government-linked (GLCs) and 61 private firms (Non-GLCs) matched for listing date In Tehran Stock Exchange (TSE) during 2001-04, covering the period 2000 to 2008 shows significant positive relation between performance of privatized firms and share issue privatization. Controlling for the government ownership change effect after IPO, we suggest that performance improvement in GLCs after listing cannot be attributed all to privatization. However, there was some fairly conclusive evidence of GLCs’ performance measures comparability with those of Non-GLCs that matched by listing date. Since the government linked companies also perform as …
Cross-Border Mergers And Acquisitions In Emerging Markets After The 2007 Economic Crisis., Amani John Mayage
Cross-Border Mergers And Acquisitions In Emerging Markets After The 2007 Economic Crisis., Amani John Mayage
Student Works (2010-2019)
This paper reviews the cross-border mergers and acquisitions (CBMA) activities during the period 2000-2010 of the four Southeast Asian countries most impacted by the 1997 Asian Financial Crisis namely, Indonesia, Malaysia, Philippines, and Indonesia. The selection of case of study was based on economic development categories. The selected countries are categorized as emerging markets within the ASEAN countries; and both are representative of the impact of the 1997 economic crisis. Due to these factors Singapore and Korea have been excluded. After the 1997 economic crisis that impacted most South East Asia countries, Indonesia, Malaysia, Philippines and Thailand introduced various measures …
Corporate Governance, Ownership Structures And Internet Financial Reporting In Malaysia., Yap Kiew Heong
Corporate Governance, Ownership Structures And Internet Financial Reporting In Malaysia., Yap Kiew Heong
Student Works (2010-2019)
This study looks at the Internet financial disclosure in light of transparency reform following the 1997 financial crisis. The researcher examined the relationship between corporate governance (CG) mechanisms, ownership structures, Internet visibility and the Internet financial reporting (IFR) of Malaysian listed companies. Second, the researcher sought the views of preparers regarding IFR practices. In the first phase of the study, the researcher examined the contents of listed companies’ Web sites by adapting the richer and more comprehensive disclosures/attributes index from FASB (2000). This study used agency theory and institutional theory to develop hypotheses on factors influencing IFR. Multiple regression analysis …
Foreign Denominated Debts And Foreign Currency Derivatives As Hedging Mechanisms Against Exchange Rate Fluctuations : Evidence From Malaysia., Mohammadali Monshi
Foreign Denominated Debts And Foreign Currency Derivatives As Hedging Mechanisms Against Exchange Rate Fluctuations : Evidence From Malaysia., Mohammadali Monshi
Student Works (2010-2019)
This investigation examined the use of Foreign Currency Derivatives (FCD) and Foreign Dennominated Debts (FDD) by Malaysian multinational nonfinancial firms for external hedging against the exposure of foreign exchange rate fluctuations during the period of five years (2005-2009). Through the three steps model, the study clarifies that although exploitation of two strategies separately and together can reduce the risk of the exposure generally, the use of them are not significant in the case of Malaysia for the selected period of time. So, governmental intervention through three financial instruments; Direct Currency Intervention (DCI), Open Market Operation (OMO), and Statutory Reserve Requirement …
The Impact Of Corporate Rebranding On Organisation's Market Value : Malaysian Perspective., Ee Mei Chin
The Impact Of Corporate Rebranding On Organisation's Market Value : Malaysian Perspective., Ee Mei Chin
Student Works (2010-2019)
The purpose of this thesis is to explore the impact of corporate rebranding on Malaysian organisation’s market value. Rebranding has been researched widely over the recent years and this could be due to the change in corporate structure of the organisation like mergers and acquisitions. This thesis concentrates on rebranding of corporate brands in Malaysia and observes how the announcement of the change of one of the element creates an impact on the organisation’s market value. The thesis is looked at in theoretical part by reviewing literature related to brands, corporate branding, rebranding and event study methodology. The thesis uses …
Non Interest Income In Bank Diversification : Evidence From Malaysia., Sasongko Yudho Prakoso
Non Interest Income In Bank Diversification : Evidence From Malaysia., Sasongko Yudho Prakoso
Student Works (2010-2019)
This study uses the aggregate data in analyzing revenue volatility in the banking institutions. It uses the individual bank data in analyzing the determinants of non interest income and determinants of bank performance. The result shows that the volatility of revenue is reduced after the time of banking crisis in 1998 due to the relatively stable condition of non interest income stream. The bank size, bank risk, bank funding strategy, macro economy and stock market contribute significant relationship to the non interest based income generating activities. The diversification through non interest based activities shows negative relationship to the bank performance.
Good News Or Bad News? Informational Value Of Corporate Bond Rating Announcements : The Malaysian Perspective., Mei Yeen Foo
Good News Or Bad News? Informational Value Of Corporate Bond Rating Announcements : The Malaysian Perspective., Mei Yeen Foo
Student Works (2010-2019)
Studies on informational efficiency in the financial markets have always attracted a large following, both from market players and the research community alike. The relative illiquidity of bond markets however have rendered researches done on the informational content of corporate bond rating announcements and its effects on bond yields to produce mixed findings. Studies on this area within the Malaysian context in recent years too have been small and inconclusive. This paper aims to study on the presence and effects of informational content in corporate bond ratings announcements (upgrades and downgrades) in the Malaysian context through the application of the …
Independent Financial Adviser : Key Factors For Engagement In Malaysia., Wan Azrul Wan Zainal Abidin
Independent Financial Adviser : Key Factors For Engagement In Malaysia., Wan Azrul Wan Zainal Abidin
Student Works (2010-2019)
This study aims to investigate the key factors for engagement of the Independent Financial Adviser (IFA) in Malaysia. The objective of this study is to identify the key factor for the Malaysian public to engage the service of an IFA and their preference for the delivery of service by the IFA. This is in accordance to the initiative of the Malaysian Financial Sector Master Plan (FSMP) introduced in 2001. The finding of this research is important to the Malaysian consumer and the IFA since they would be able to mutually benefit from the understanding of how each fits into the …
Target Status And Method Of Payment : A Perfomance Analysis Of Acquisitions In Malaysia., Lee Siew Peng
Target Status And Method Of Payment : A Perfomance Analysis Of Acquisitions In Malaysia., Lee Siew Peng
Student Works (2010-2019)
This study investigates firms performance in acquisition based on the target status and methods of payment in the Malaysian market over the period 2000-2004. To measure the acquiring and target firms abnormal returns around the acquisition announcements, the study employs the market model with Scholes-Williams adjustments for thin trading. For long-term analysis after acquisition, we use the market-adjusted model and buy-and-hold abnormal approach. The study finds that, in the short-term, acquisition activities create positive gain to both acquiring and target firms, most of which go to the target firms. Further, most of the abnormal returns occurs on day 0 and …
The Relationship Between Stock Price And Currency Exchange Rate In Malaysia : The Case Before Pegging And After Depegging Of Ringgit Malaysia., Ooi Beng Hooi
Student Works (2010-2019)
This study examines the relationship between stock price and currency exchange rate in Malaysia for the periods before pegging and after depegging of Ringgit Malaysia. Various econometrics tests are performed to find out the coefficients of correlation, beta coefficients, stationary of stock price and currency exchange rate, cointegration and Granger causality. It is found that stock price and strength of Ringgit are strongly and positively correlated, unilateral causality from stock price to currency exchange rate before pegging of Ringgit. However, the relationship between the two variables has become less significant as the correlation and degree of cointegration has become weaker …
Firm Value And The Tax Benefits Of Debt : A Study On Public Listed Company In Malaysia., Izam Syaharadzi Ahmad Sofian
Firm Value And The Tax Benefits Of Debt : A Study On Public Listed Company In Malaysia., Izam Syaharadzi Ahmad Sofian
Student Works (2010-2019)
This study has three main objectives. First, to empirically defines the relationship between firm value and debt of Public Listed Company in Malaysia once endogeneity of contemporaneous debt is corrected. Secondly the study looks into the possibility impact of alternative theories such as Free Cash Flow and Debt Signaling Hypotheses to the relationship between firm value and debt. Finally, it examines the influence of managerial ownership towards firm value and how it affects the benefits of debts. This study uses interest expense scaled by total assets as proxy of debt. The relationship between firm value and debt is statistically tested …
The Effect Of Firm Characteristics On Capital Structure : An Empirical Study., Andrew Hon Ming Chong
The Effect Of Firm Characteristics On Capital Structure : An Empirical Study., Andrew Hon Ming Chong
Student Works (2010-2019)
The effect of firm characteristics on capital structure has been tested for thisstudy. Sample is randomly drawn from 60 manufacturing firms listed in theMain Market of Bursa Malaysia for a period from year 2004 to 2008 which totalling 300 data. A regression model is formed amongst one dependentvariable, five independent variables, and one dummy variable to study the relationship and effect between firm characteristics and capital structure. The results reveal that firm size has a positive relation to capital structure whereas interest coverage ratio, profitability, and growth opportunities have an inverse relation to capital structure. While tangibility alone is found …