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Most of the prior literature focused on the scope, dimensions, importance, and business case of Corporate Sustainability (CS). A few studies also addressed the successful adoption or implementation of CS. Therefore, this study, by following the sequential process of stakeholder theory, adopts a holistic approach to inquire the impact of integrated management system (IMS) on CS and Firm Financial Performance (FFP). Besides investigating the link between CS and FFP, the study also theorizes the unique mediation of CS in the bonding between IMS and FFP. By employing ordinary least squares (OLS) and two-stage least squares (2SLS) to data collected through content analysis from a sample of 23 top companies listed in the real estate and construction industry on Bursa Malaysia from 2011 to 2016, it is revealed that IMS is a significant positive predictor of CS and all of its dimensions. Also, the study found the novel mediation of CS in the relationship between IMS and FFP (share market price). Besides contributing to the literature, the study also offers many empirical insights for the industry, regulatory bodies, and other stakeholders of developing countries, especially Malaysia.
Haseeb Ur Rahman; Muhammad Zahid; Ali Muhammad. Connecting integrated management system with corporate sustainability and firm performance: from the Malaysian real estate and construction industry perspective. Environment, Development and Sustainability 2021, 1 -25.
AMA StyleHaseeb Ur Rahman, Muhammad Zahid, Ali Muhammad. Connecting integrated management system with corporate sustainability and firm performance: from the Malaysian real estate and construction industry perspective. Environment, Development and Sustainability. 2021; ():1-25.
Chicago/Turabian StyleHaseeb Ur Rahman; Muhammad Zahid; Ali Muhammad. 2021. "Connecting integrated management system with corporate sustainability and firm performance: from the Malaysian real estate and construction industry perspective." Environment, Development and Sustainability , no. : 1-25.
This study aimed to investigate the impact of some important Sustainable Development Goals (SDGs), such as the decent workplace, climate change, and economic sustainability on firm financial performance (see Goals 8 and 13). By adopting an index from the previous literature, this study collected data from the annual and sustainability reports of the publicly listed companies of a developing country through content analysis from 2016 to 2018. The results revealed a significant increase in the level of compliance with workplace and environmental sustainability during the corresponding period. Furthermore, the estimations of ordinary least squares (OLS) and two-stage least squares (2SLS) panel data also unveiled a positive impact of workplace sustainability on the firm’s environmental and financial performance. Additionally, we noted that the findings were pronounced after addressing the problem of endogeneity. Moreover, the study also found a novel significant and positive mediating role of environmental sustainability in the relationship between workplace sustainability and the firm’s financial performance. This study has theoretical significance by proposing sustainability training and development as instrumental variables in the relationship of the workplace and environmental sustainability to firm financial performance. This study offers practical implications for regulatory bodies and business firms to integrate workplace and environmental sustainability practices into their routine operations for achieving sustainable industrialization.
Muhammad Zahid; José Martins; Haseeb Rahman; Mário Mata; Syed Shah; Pedro Mata. The Interconnection between Decent Workplace and Firm Financial Performance through the Mediation of Environmental Sustainability: Lessons from an Emerging Economy. Sustainability 2021, 13, 4570 .
AMA StyleMuhammad Zahid, José Martins, Haseeb Rahman, Mário Mata, Syed Shah, Pedro Mata. The Interconnection between Decent Workplace and Firm Financial Performance through the Mediation of Environmental Sustainability: Lessons from an Emerging Economy. Sustainability. 2021; 13 (8):4570.
Chicago/Turabian StyleMuhammad Zahid; José Martins; Haseeb Rahman; Mário Mata; Syed Shah; Pedro Mata. 2021. "The Interconnection between Decent Workplace and Firm Financial Performance through the Mediation of Environmental Sustainability: Lessons from an Emerging Economy." Sustainability 13, no. 8: 4570.
This study investigates the impact of women directors (WOB), independent directors (BIND), board size (BSIZE), and Sustainability Committee (SC) on Firm Financial Performance (FFP) with a unique mediation of Corporate Sustainability Practices (CSP) in a stratified random sample of 255 non-financial Pakistani listed companies from 2012 to 2016. By using the Ordinary Least Squares (OLS) and OLS with Panel Corrected Standard Errors (PCSE), it is revealed that BIND and large BSIZE are the significant positive predictors of CSP. Besides a positive association between CSP and FFP (Tobin's Q and ROE), it is also noted that CSP positively mediates the nexus of BIND and BSIZE with FFP. However, WOB and SC have no significant or positive effect on CSP and FFP. Moreover, the significant positive effect of BIND slightly decreases with its increase beyond a certain limit in relation to CSP and FFP. The study provides several contributions to the literature and practice.
Haseeb Ur Rahman; Muhammad Zahid; Musa Khan. Corporate sustainability practices: a new perspective of linking board with firm performance. Total Quality Management & Business Excellence 2021, 1 -18.
AMA StyleHaseeb Ur Rahman, Muhammad Zahid, Musa Khan. Corporate sustainability practices: a new perspective of linking board with firm performance. Total Quality Management & Business Excellence. 2021; ():1-18.
Chicago/Turabian StyleHaseeb Ur Rahman; Muhammad Zahid; Musa Khan. 2021. "Corporate sustainability practices: a new perspective of linking board with firm performance." Total Quality Management & Business Excellence , no. : 1-18.
The substantial focus on achieving corporate sustainability has necessitated the implementation of green human resource management (GHRM) practices. The purpose of this paper is to reveal the industries’ perspective of the impact of GHRM practices (i.e., green recruitment and selection, green pay and rewards, and green employee involvement and green training) on corporate sustainability practices. Data were collected from 200 human resource professionals in major industrial sectors of a developing country. Partial least squares structural equation modelling was used to test the study hypotheses and multigroup analysis (MGA) between industrial sectors. The findings show a positive impact of three GHRM practices, i.e., green recruitment and selection, green pay and rewards, and green employee involvement on corporate sustainability. However, green training has no significant association with corporate sustainability, which is interesting. Furthermore, the multigroup analysis (MGA) revealed partial and significant differences among different sectors. The results provide more contextualized social, environmental, and economic implications to academics and practitioners interested in green initiatives. To date, limited research has been conducted to investigate whether GHRM practices can be an effective strategy in increasing corporate sustainability in a developing country context. Particularly, the industry’s perspective on the subject matter was rather absent in the existing literature. The present study fills this gap and contributes to the existing literature by providing the industry’s perspective on GHRM and corporate sustainability.
Tauseef Jamal; Muhammad Zahid; José Martins; Mário Mata; Haseeb Rahman; Pedro Mata. Perceived Green Human Resource Management Practices and Corporate Sustainability: Multigroup Analysis and Major Industries Perspectives. Sustainability 2021, 13, 3045 .
AMA StyleTauseef Jamal, Muhammad Zahid, José Martins, Mário Mata, Haseeb Rahman, Pedro Mata. Perceived Green Human Resource Management Practices and Corporate Sustainability: Multigroup Analysis and Major Industries Perspectives. Sustainability. 2021; 13 (6):3045.
Chicago/Turabian StyleTauseef Jamal; Muhammad Zahid; José Martins; Mário Mata; Haseeb Rahman; Pedro Mata. 2021. "Perceived Green Human Resource Management Practices and Corporate Sustainability: Multigroup Analysis and Major Industries Perspectives." Sustainability 13, no. 6: 3045.
Banking industries are blamed to be among the major factors that affect global climate change both directly and indirectly. The green banking concept has emerged in the last decade to trigger the adverse impact the banks put on a healthy environment. However, research regarding the adoption of green banking practices in developing economies, especially in Pakistan, is scarce. While environment friendly businesses are promoted by the government including in the banking industry. Green banking practices not only adopted by the business operations but also to practice it at policy-making level. It also encourages green project financing to ascertain environmental efficiency. Based on SRI theory, this study investigates the relationship between green banking practices and their direct and indirect impact on environmental performance. Structural equation modelling approach has been adopted to test the relationships of variables of the study. The impact of the green practices has been recognized much greater and influential in promoting green environment regarding policy-making and investments in green projects. Results reveal that there is a significant influence of policy, daily operations, and investments on the adoption of green banking practices. Interested parties can adopt the study proposed framework to access and identify the factors which can promote justified level of green banking practices in the country. Moreover, this study may help in providing rich updated literature in green banking to speed up future research in the same area.
Alam Rehman; Irfan Ullah; Fakhr-E-Alam Afridi; Zain Ullah; Muhammad Zeeshan; Arif Hussain; Haseeb Ur Rahman. Adoption of green banking practices and environmental performance in Pakistan: a demonstration of structural equation modelling. Environment, Development and Sustainability 2021, 23, 13200 -13220.
AMA StyleAlam Rehman, Irfan Ullah, Fakhr-E-Alam Afridi, Zain Ullah, Muhammad Zeeshan, Arif Hussain, Haseeb Ur Rahman. Adoption of green banking practices and environmental performance in Pakistan: a demonstration of structural equation modelling. Environment, Development and Sustainability. 2021; 23 (9):13200-13220.
Chicago/Turabian StyleAlam Rehman; Irfan Ullah; Fakhr-E-Alam Afridi; Zain Ullah; Muhammad Zeeshan; Arif Hussain; Haseeb Ur Rahman. 2021. "Adoption of green banking practices and environmental performance in Pakistan: a demonstration of structural equation modelling." Environment, Development and Sustainability 23, no. 9: 13200-13220.
Most of the prior literature that investigated the nexus between corporate sustainability disclosures (CSD) and firm financial performance (FFP) has largely been ignored the potential problem of endogeneity. The omitted variable(s), measurement error, and reverse causality, which are the known causes of endogeneity, may also be the possible reasons for the indecisive and inconsistent relationship between CSD and FFP. Accordingly, this study reinvestigates the relationship by addressing the problem of endogeneity through applying the two‐stage least squares (2SLS) estimator to data collected from the annual reports of the top 10 Pakistani banks through content analysis from 2013 to 2017. The results show a positive impact of the CSD and social sustainability on FFP. However, environmental sustainability exerted a negative impact on FFP. The statistics for 2SLS are much different than those of the ordinary least squares (OLS), which explain the importance of addressing the endogeneity bias. The study offers a methodological procedure that identifies and addresses the endogeneity through a step‐by‐step process in Stata 13.0. Besides, the study also has a novelty to propose and validate additional instrumental variables for the research in the future. Overall, the study has many contributions and implications for different stakeholders such as academia, regulatory bodies, and practitioners in the field of corporate sustainability.
Muhammad Zahid; Haseeb Ur Rahman; Musa Khan; Wajahat Ali; Fazaila Shad. Addressing endogeneity by proposing novel instrumental variables in the nexus of sustainability reporting and firm financial performance: A step‐by‐step procedure for non‐experts. Business Strategy and the Environment 2020, 29, 3086 -3103.
AMA StyleMuhammad Zahid, Haseeb Ur Rahman, Musa Khan, Wajahat Ali, Fazaila Shad. Addressing endogeneity by proposing novel instrumental variables in the nexus of sustainability reporting and firm financial performance: A step‐by‐step procedure for non‐experts. Business Strategy and the Environment. 2020; 29 (8):3086-3103.
Chicago/Turabian StyleMuhammad Zahid; Haseeb Ur Rahman; Musa Khan; Wajahat Ali; Fazaila Shad. 2020. "Addressing endogeneity by proposing novel instrumental variables in the nexus of sustainability reporting and firm financial performance: A step‐by‐step procedure for non‐experts." Business Strategy and the Environment 29, no. 8: 3086-3103.
Purpose The integration of sustainability is more matured in the corporate sector. However, the topic received less attention in higher education institutions (HEIs). Therefore, this study aims to conceptualize an integration framework and proposes sustainability integration and implementation index in the HEIs. Design/methodology/approach The index was developed from previous literature. For the implementation of the index, three universities were selected. The required data collected from websites, internal documents and interviews with the high officials of these universities. Findings Sample universities have somehow inclination toward the broad agenda of sustainable development, but still, they lack integration, implementation and reporting of their sustainable practices. Moreover, the departments have positive and practical intent toward sustainability especially regarding the environment, designing curriculum, teaching, research activities and volunteerism. However, in assessment, the social and economic contributions of these universities revealed to be somewhat mild. The findings also evidenced heterogeneity among the sample institutions to follow the said agenda which reflects a lack of awareness and policy or a centralized or regulatory push from the top. Research limitations/implications The study is limited to three universities in Khyber Pakhtunkhwa, Pakistan. Hence, in the future, the framework and index may be tested in other universities of the country or region. Nevertheless, the study carries theoretical significance in the literature of sustainability. Practical implications The study has practical implications for academia, regulatory bodies and universities to integrate, implement and report sustainability in HEIs. Originality/value The study proposes and validates the sustainability integration and implementation index in HEIs. The index is unique and has originality or value particularly for HEIs of the developing countries.
Muhammad Zahid; Haseeb Ur Rehman; Wajahat Ali; Muhammad Nauman Habib; Fazaila Shad. Integration, implementation and reporting outlooks of sustainability in higher education institutions (HEIs): index and case base validation. International Journal of Sustainability in Higher Education 2020, 22, 120 -137.
AMA StyleMuhammad Zahid, Haseeb Ur Rehman, Wajahat Ali, Muhammad Nauman Habib, Fazaila Shad. Integration, implementation and reporting outlooks of sustainability in higher education institutions (HEIs): index and case base validation. International Journal of Sustainability in Higher Education. 2020; 22 (1):120-137.
Chicago/Turabian StyleMuhammad Zahid; Haseeb Ur Rehman; Wajahat Ali; Muhammad Nauman Habib; Fazaila Shad. 2020. "Integration, implementation and reporting outlooks of sustainability in higher education institutions (HEIs): index and case base validation." International Journal of Sustainability in Higher Education 22, no. 1: 120-137.
This study aims to investigate the impact of corporate social responsibility disclosures (CSRD) on the financial performance of the Islamic banking industry of Pakistan. The study employed the method of content analysis for collecting the required data from annual reports of all four full-fledged Islamic banks operating in Pakistan from 2012 to 2017. The study developed a novel comprehensive CSRD index by using the “Global Reporting Initiative” (GRI) and “Accounting and Auditing Organization of Islamic Financial Institutions” (AAOIFI). This index consists of five dimensions and 105 sub-dimensions of CSRD. The use of Ordinary Least Squares (OLS), Panel Corrected Standard Errors (PCSEs), and Generalized Least Squares (GLS) using random-effect (RE) and fixed-effect (FE) estimators revealed a significant negative relationship between CSRD and the financial performance of the sample firms. Regarding separate dimensions, the relationship of the Environmental and Economic dimensions of CSRD is significantly positive with current performance, but it is insignificant for the relationships of Legal, Philanthropic, and Ethical dimensions of CSRD with the current financial performance. In addition to contributing to the scarce literature in the Islamic banking industry of a developing country like Pakistan, the study will also help the policymakers and other stakeholders, including the AAOIFI, to develop a comprehensive CSRD policy or index and further improve the already established standards for CSRD.
Zia Ur Rehman; Muhammad Zahid; Haseeb Ur Rehman; Muhammad Asif; Majed Alharthi; Muhammad Irfan; Adam Glowacz. Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan. Sustainability 2020, 12, 3302 .
AMA StyleZia Ur Rehman, Muhammad Zahid, Haseeb Ur Rehman, Muhammad Asif, Majed Alharthi, Muhammad Irfan, Adam Glowacz. Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan. Sustainability. 2020; 12 (8):3302.
Chicago/Turabian StyleZia Ur Rehman; Muhammad Zahid; Haseeb Ur Rehman; Muhammad Asif; Majed Alharthi; Muhammad Irfan; Adam Glowacz. 2020. "Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan." Sustainability 12, no. 8: 3302.
This study aims to examine the impact of boardroom gender diversity, Malaysian Code on Corporate Governance (MCCG, 2012), and firms’ specific characteristics such as age, size, and profitability, on corporate sustainability disclosures (CSD) in Malaysia. The study applied Ordinary Least Square (OLS) to a stratified random sample composed of 878 public listed companies. These companies were selected in 11 sectors of the Malaysian economy for three years i.e. 2011 to 2013. The selection of time period has a rationale that Malaysia is mostly focused on improving both the corporate sustainability and representation of women directors on the board during this time. The results indicate that women directors have an imperative role in improving CSD as evident by their significant positive association with workplace and social, environmental, and economic dimensions of corporate sustainability. In addition, the comparison of findings in pre and post contexts of MCCG 2012, it is noted that the association between boardroom gender diversity and CSD has pronounced after enactment of the code. The findings are important, particularly in connection with a fast-growing and emerging economy like Malaysia. The findings have important insights for various stakeholders i.e. government, regulatory bodies, practitioners, academia, industry, and researchers.
Muhammad Zahid; Haseeb Ur Rahman; Wajahat Ali; Musa Khan; Majed Alharthi; Muhammad Imran Qureshi; Amin Jan. Boardroom gender diversity: Implications for corporate sustainability disclosures in Malaysia. Journal of Cleaner Production 2019, 244, 118683 .
AMA StyleMuhammad Zahid, Haseeb Ur Rahman, Wajahat Ali, Musa Khan, Majed Alharthi, Muhammad Imran Qureshi, Amin Jan. Boardroom gender diversity: Implications for corporate sustainability disclosures in Malaysia. Journal of Cleaner Production. 2019; 244 ():118683.
Chicago/Turabian StyleMuhammad Zahid; Haseeb Ur Rahman; Wajahat Ali; Musa Khan; Majed Alharthi; Muhammad Imran Qureshi; Amin Jan. 2019. "Boardroom gender diversity: Implications for corporate sustainability disclosures in Malaysia." Journal of Cleaner Production 244, no. : 118683.
The current study investigates the impact of government initiatives, integrated strategies and some key internal factors on corporate sustainability practices (CSP) in Malaysian public listed companies (PLCs). Ordinary Least Squares (OLS) employed to a pooled data composed of 878 firm-year observations of 12 sectors of Malaysian PLCs from 2011 to 2013. The results indicated a significant improvement in CSP of the Malaysian PLCs over the period of 2011–2013. Further, corporate sustainability-related awards, global reporting initiatives (GRI) framework, and organizational strategy were proved to be the drivers of CSP. Additionally, firm profitability, size, and age have also found as significant characteristics of CSP. Unexpectedly, both Malaysian code on corporate governance (MCCG) 2012 and top management commitment do not influence CSP. The findings provide important insights for the various stakeholders of the country including government, regulatory bodies, practitioners, academia, researchers, banks, Bursa Malaysia, security commission and management of PLCs to make informed decisions about CSP.
Muhammad Zahid; Haseeb Ur Rehman; Saqib Muneer; Babar Zaheer Butt; Aliyu Isah-Chikaji; Mumtaz Ali Memon. Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia. Journal of Cleaner Production 2019, 241, 118329 .
AMA StyleMuhammad Zahid, Haseeb Ur Rehman, Saqib Muneer, Babar Zaheer Butt, Aliyu Isah-Chikaji, Mumtaz Ali Memon. Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia. Journal of Cleaner Production. 2019; 241 ():118329.
Chicago/Turabian StyleMuhammad Zahid; Haseeb Ur Rehman; Saqib Muneer; Babar Zaheer Butt; Aliyu Isah-Chikaji; Mumtaz Ali Memon. 2019. "Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia." Journal of Cleaner Production 241, no. : 118329.
This study aimed to investigate the relationship between various leadership styles and employees' productivity in the banking industry of Pakistan. The study employed partial least squares (PLS) to a set of data collected through questionnaire from the employees of banks operating in Peshawar, Khyber-Pakhtunkhwa (KP), Pakistan. The findings revealed a significant positive association between transformational leadership and employees' productivity. The authoritarian leadership was found insignificantly negative while a transactional leadership style accounted for an insignificant positive association with employees' productivity. Also, the findings confirmed that organizational culture has a significantly positive role in enhancing employees' productivity in the banking industry of Pakistan. The findings are useful for managers, regulators, policymakers, and employees of the banking industry in Pakistan. Also, the findings enrich the previous limited and incongruent literature in the area.
Saeeda Rehman; Muhammad Zahid; Haseeb Ur Rehman; Muhammad Nauman Habib. A Partial Least Squares Approach to the Leadership Styles, Organizational Culture, and Employees' Productivity. International Journal of Asian Business and Information Management 2019, 10, 55 -64.
AMA StyleSaeeda Rehman, Muhammad Zahid, Haseeb Ur Rehman, Muhammad Nauman Habib. A Partial Least Squares Approach to the Leadership Styles, Organizational Culture, and Employees' Productivity. International Journal of Asian Business and Information Management. 2019; 10 (1):55-64.
Chicago/Turabian StyleSaeeda Rehman; Muhammad Zahid; Haseeb Ur Rehman; Muhammad Nauman Habib. 2019. "A Partial Least Squares Approach to the Leadership Styles, Organizational Culture, and Employees' Productivity." International Journal of Asian Business and Information Management 10, no. 1: 55-64.
Haseeb Ur Rahman; Mohd. Yussoff Ibrahim; Ayoib Che Ahmad. Physical Characteristics of the Chief Executive Officer and Firm Accounting and Market-Based Performance. Asian Journal of Accounting and Governance 2017, 8, 27 -37.
AMA StyleHaseeb Ur Rahman, Mohd. Yussoff Ibrahim, Ayoib Che Ahmad. Physical Characteristics of the Chief Executive Officer and Firm Accounting and Market-Based Performance. Asian Journal of Accounting and Governance. 2017; 8 ():27-37.
Chicago/Turabian StyleHaseeb Ur Rahman; Mohd. Yussoff Ibrahim; Ayoib Che Ahmad. 2017. "Physical Characteristics of the Chief Executive Officer and Firm Accounting and Market-Based Performance." Asian Journal of Accounting and Governance 8, no. : 27-37.
This study identified that accounting for endogeneity in bankruptcy forecasting models have been widely over-sighted. This study used Altman’s bankruptcy forecasting model to examine bankruptcy rates of the Islamic and conventional banks in Malaysia. Data for this study were collected from the post-crisis period 2009–2013. The results showed that the Islamic banks in Malaysia were more bankrupt as compared to the conventional banks. Hence, the claim of Islamic banks is in the stark contrast to the phenomena of being more shock-resilient to the financial crisis due to their Shariah compliance. Furthermore, the results of multiple regression analysis indicated that profitability possesses the highest explanatory power in reducing bankruptcy. However, the statistical tests Wu-Hausman and Durbin-Score identified profitability as an endogenous variable in Altman’s model, which this study addressed with an instrumental variable. Thus, this study draws a conclusion that consideration of endogeneity in bankruptcy forecasting is essential, or else the results could be misleading. The results of the study lend credence to the researchers, policy-makers, and practitioners for accurate bankruptcy forecasting.
Amin Jan; Maran Marimuthu; Muhammad Kashif Shad; Haseeb Ur Rehman; Muhammad Zahid; Ahmad Ali Jan. Bankruptcy profile of the Islamic and conventional banks in Malaysia: a post-crisis period analysis. Economic Change and Restructuring 2017, 52, 67 -87.
AMA StyleAmin Jan, Maran Marimuthu, Muhammad Kashif Shad, Haseeb Ur Rehman, Muhammad Zahid, Ahmad Ali Jan. Bankruptcy profile of the Islamic and conventional banks in Malaysia: a post-crisis period analysis. Economic Change and Restructuring. 2017; 52 (1):67-87.
Chicago/Turabian StyleAmin Jan; Maran Marimuthu; Muhammad Kashif Shad; Haseeb Ur Rehman; Muhammad Zahid; Ahmad Ali Jan. 2017. "Bankruptcy profile of the Islamic and conventional banks in Malaysia: a post-crisis period analysis." Economic Change and Restructuring 52, no. 1: 67-87.
Purpose The purpose of this paper is to investigate the relation of corporate governance (CG) attributes, such as separate leadership (SL) structure, independent chair (IC) of the board, and the proportion of independent directors on the board (Bind) recommended by the new Malaysian Code on Corporate Governance (2012), with firms’ market performance measured by share market price. Design/methodology/approach The paper uses a randomly selected sample of 150 non-financial Malaysian listed companies. To find the distinct impact of the code, the paper explicitly divides the sample into two-year pre-context (2010-2011) and two-year post-context (2013-2014) of the code. Besides descriptive statistics, the study also employs correlation and multiple regression estimators. Findings By comparing the pre-context and post-context of the code, the study found that SL and Bind have a significant positive relation while IC of the board has a significant negative relation with share market price after enactment of the code. Research limitations/implications The paper has a limitation of using only two years of data due to its non-availability particularly after enactment of the code. The findings show that the new code slightly improved compliance to the CG attributes investigated. Based on findings, the study also recommends further improvement in compliance to CG codes and other voluntary regulations in Malaysia. Originality/value Besides contributing to the limited and incongruent literature in pre-context and post-context of CG regulations, the paper also provides important insights for regulators and policy makers of the emerging markets like Malaysia.
Haseeb-Ur- Rahman; Mohd. Yussoff Ibrahim; Ayoib Che Ahmad. Corporate governance reforms and shareholders’ confidence in emerging markets. World Journal of Science, Technology and Sustainable Development 2017, 14, 60 -74.
AMA StyleHaseeb-Ur- Rahman, Mohd. Yussoff Ibrahim, Ayoib Che Ahmad. Corporate governance reforms and shareholders’ confidence in emerging markets. World Journal of Science, Technology and Sustainable Development. 2017; 14 (1):60-74.
Chicago/Turabian StyleHaseeb-Ur- Rahman; Mohd. Yussoff Ibrahim; Ayoib Che Ahmad. 2017. "Corporate governance reforms and shareholders’ confidence in emerging markets." World Journal of Science, Technology and Sustainable Development 14, no. 1: 60-74.