Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail

Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail

Managing the risks and uncertainties of businesses that operate in a volatile and complex market environment has attracted considerable attention among market participants. Such concerns are particularly related to how businesses deal with the occurrence of increased risks in their business operatio...

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Bibliographic Details
Main Author: Ismail, Rina Fadhilah
Format: Book Section
Language:English
Published: Institute of Graduate Studies, UiTM 2015
Subjects:
Malaysia
Online Access:http://ir.uitm.edu.my/id/eprint/19338/
http://ir.uitm.edu.my/id/eprint/19338/1/ABS_RINA%20FADHILAH%20%20ISMAIL%20TDRA%20VOL%207%20IGS%2015.pdf
id uitm-19338
recordtype eprints
spelling uitm-193382018-06-11T04:34:11Z http://ir.uitm.edu.my/id/eprint/19338/ Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail Ismail, Rina Fadhilah Malaysia Managing the risks and uncertainties of businesses that operate in a volatile and complex market environment has attracted considerable attention among market participants. Such concerns are particularly related to how businesses deal with the occurrence of increased risks in their business operations. However, the concept of corporate risk reporting has never been the main focus of the Malaysian Code of Corporate Governance (MCCG) when the Code was first introduced in 2000. Even though, there were several effects of economic crisis in 2007 on to the public listed companies (PLC), risk reporting remains a voluntary exercise. One of the prominent characteristics of Malaysian PLCs relates to the highly concentrated ownership structure where companies are mostly owned either by family members and the government. It is expected that these PLCs may face some forms of governance conflicts from the perspectives of agency and signalling theories. Thus, this study aims to review and to examine risk reporting while there is also a tendency of “agency-signalling” conflict when reporting the risk and how it would influence the firm value creation. Specifically, this study adopts a quantitative investigation to capture the voluntary risk information in the annual reports of 233 PLCs, where the final sample involved a total of 656 firm-year observations over a four-year period. This study finds that the most fitting theory that could explain the variation in the choice of voluntary disclosure would be the Agency Theory. The voluntary risk disclosure indicates improvement during the post-financial crisis period (i.e. 2008- 2009) due to the efforts of the regulators in promoting corporate transparency and governance… Institute of Graduate Studies, UiTM 2015 Book Section PeerReviewed text en http://ir.uitm.edu.my/id/eprint/19338/1/ABS_RINA%20FADHILAH%20%20ISMAIL%20TDRA%20VOL%207%20IGS%2015.pdf Ismail, Rina Fadhilah (2015) Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail. In: The Doctoral Research Abstracts. IPSis Biannual Publication, 7 (7). Institute of Graduate Studies, UiTM, Shah Alam.
repository_type Digital Repository
institution_category Local University
institution Universiti Teknologi MARA
building UiTM Institutional Repository
collection Online Access
language English
topic Malaysia
spellingShingle Malaysia
Ismail, Rina Fadhilah
Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail
description Managing the risks and uncertainties of businesses that operate in a volatile and complex market environment has attracted considerable attention among market participants. Such concerns are particularly related to how businesses deal with the occurrence of increased risks in their business operations. However, the concept of corporate risk reporting has never been the main focus of the Malaysian Code of Corporate Governance (MCCG) when the Code was first introduced in 2000. Even though, there were several effects of economic crisis in 2007 on to the public listed companies (PLC), risk reporting remains a voluntary exercise. One of the prominent characteristics of Malaysian PLCs relates to the highly concentrated ownership structure where companies are mostly owned either by family members and the government. It is expected that these PLCs may face some forms of governance conflicts from the perspectives of agency and signalling theories. Thus, this study aims to review and to examine risk reporting while there is also a tendency of “agency-signalling” conflict when reporting the risk and how it would influence the firm value creation. Specifically, this study adopts a quantitative investigation to capture the voluntary risk information in the annual reports of 233 PLCs, where the final sample involved a total of 656 firm-year observations over a four-year period. This study finds that the most fitting theory that could explain the variation in the choice of voluntary disclosure would be the Agency Theory. The voluntary risk disclosure indicates improvement during the post-financial crisis period (i.e. 2008- 2009) due to the efforts of the regulators in promoting corporate transparency and governance…
format Book Section
author Ismail, Rina Fadhilah
author_facet Ismail, Rina Fadhilah
author_sort Ismail, Rina Fadhilah
title Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail
title_short Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail
title_full Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail
title_fullStr Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail
title_full_unstemmed Voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / Rina Fadhilah Ismail
title_sort voluntary risk disclosure and firm value creation: from the perspectives of the agency and signalling theories / rina fadhilah ismail
publisher Institute of Graduate Studies, UiTM
publishDate 2015
url http://ir.uitm.edu.my/id/eprint/19338/
http://ir.uitm.edu.my/id/eprint/19338/1/ABS_RINA%20FADHILAH%20%20ISMAIL%20TDRA%20VOL%207%20IGS%2015.pdf
first_indexed 2023-09-18T23:02:21Z
last_indexed 2023-09-18T23:02:21Z
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