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The Effect of Enterprise Risk Management Implementation on Non-Financial Performance in Jordan Manufacturing Firms: A Review
Get PDFPrevious business crises have highlighted the shortcomings in the methodologies employed for risk management within organizations. In response to these problems, organizational risk management has gained importance recently for the oversight of corporate risk. Unlike solo-based risk management, Enterprise Risk Management (ERM) analyses the organization's whole risk exposure in an integrated and complete manner. The execution of such an integrated approach is essential for all organizations of size and types. Therefore, this study aims to investigate how the COSO ERM framework is considered a crucial framework that provides precise direction and guidance in enterprise risk management among manufacturing enterprises in Jordan and its impact on non-financial performance to enable organizations to mitigate risks and losses and exploit the opportunities.? Furthermore, it highlights the prominent role of risk governance including boards of directors, risk committees, chief risk officers, and IT systems as moderators of this relation
The Interplay between Risk Management and Internal Control Towards Corporate Tax Aggressiveness
Get PDFCorporate tax aggressiveness has become a major issue in the international business environment as they exploit the loopholes of legitimate tax avoidance. Although these techniques have the potential to increase revenues, they are viewed critically by regulators and society. Due to the reputational and financial impact associated with aggressive tax planning, effective measures are required to manage the risks and ensure compliance with tax laws. In addressing the issue of corporate tax aggressiveness, this paper examines the role played by risk management and the effectiveness of internal controls. Based on agency theory, tax aggressiveness often represents an agency problem between agent and principal. Therefore, effective risk management provides a systematic approach to recognizing and mitigating the potential pitfalls of aggressive tax strategies, while robust internal controls ensure compliance and align tax practices with governance standards. This study underscores the critical need for companies to view tax aggressiveness not just as a financial strategy, but as a governance challenge that requires robust risk mitigation and control systems. Although it can bring financial benefits and competitive advantages, it also carries financial, reputational and regulatory risks that jeopardize long-term value. Hence, companies should pursue a balanced approach to tax planning that harmonizes profitability targets with social expectations and regulatory standards
Performance Measurement System in Malaysian Higher Education Institutions: Driving Success or Inducing Stress?
Get PDFAn effective performance measurement system (PMS) is crucial for higher education institutions (HEIs) to drive success, but an unfair one may lead to stress and negative behaviors. Currently, academics are expected to excel in various areas, leading to overwhelming tasks and responsibilities. The existing system for evaluating academic performance is considered unfair as it overly prioritizes quantitative measures. The Key Performance Indicators (KPIs) are also perceived as inadequate in capturing the essence of the academic role, which should emphasize content and quality. This study aims to explore Malaysian academics' perceptions of the performance measurement system adopted by HEIs, their views on what constitutes a fair measurement system, and their opinions about the current system. This study targeted academics at Malaysian HEIs using convenience sampling due to the large number of institutions. A total of 379 participants responded to an online survey distributed via email with the help of university representatives. The instrument included sections on demographics, perceptions of PMS, opinions on fair PMS, and open-ended questions, utilizing a slider scale for precise data collection. The findings indicate that higher education institutions tend to adopt a directive performance measurement approach, relying heavily on quantitative indicators for monitoring. To create a fairer system, emphasis should be placed on effort and qualitative measures. Many academics express frustration over the numerous measures employed in the PMS, contributing to their excessive workload and work-life imbalance. Therefore, a fairer measurement system is needed to ensure a better work-life balance and reduce stress for academics
Exploring the Interplay of Product Attributes, CEO Brand Image and Purchase Intention in the Cosmetic Industry: A Comprehensive Review
Get PDFThe cosmetics industry is highly competitive, with consumer purchase intentions influenced by both tangible attributes, such as product quality, and intangible factors, such as CEO branding. This study explores the interplay between product attributes and CEO brand image, emphasizing the role of mediating factors such as perceived quality, brand image, and information search behavior. By utilizing the Social Cognitive Theory (SCT) and Cue Utilization Theory (CUT), the research provides insights into how intrinsic (e.g., product features) and extrinsic (e.g., branding) cues shape consumer decisions. Case studies of successful Malaysian CEOs, including Naeemah Abdul Rahman of Nurraysa, highlight how personal branding aligned with ethical and cultural values drives loyalty and trust. The findings offer a comprehensive framework for understanding consumer behavior and provide actionable strategies for marketers to enhance engagement and differentiation in a saturated market. Practical implications include leveraging emerging technologies, such as augmented reality, to complement branding strategies and improve consumer experience. Future research should address regional and cultural nuances and explore the long-term impacts of CEO branding on customer loyalty and brand equity
From Table to Trash: Behavioral Insights into Food Waste in Klang Valley Restaurants
Get PDFFood waste has significant environmental impacts and poses a major challenge for restaurant operations in the Klang Valley. To examine the elements of the Norm Activation Model (NAM) that influence consumer intentions to reduce food waste, a quantitative method was utilized to select 290 respondents. 290 valid responses were collected through face-to-face data distributions and an online questionnaire before being analyzed using the Statistical Package for the Social Sciences (SPSS). The study examines how personal norms (PN), ascription of responsibility (AR), and awareness of consequences (AC) influence personal norms (PN) and how personal norm (PN) influences intention (INT) to reduce food waste. Findings reveal that the intention to reduce food waste (INT) is significantly influenced by personal norms (PN), with awareness of consequences (AC) and ascription of responsibility (AR) both positively influencing personal norms (PN). These interventions align with the NAM model by increasing awareness, reinforcing responsibility, and shaping personal norms that encourage sustainable dining behaviors among consumers. Thus, the findings of the study benefit all key stakeholders, including restaurants, policymakers, and consumers, by advocating effective solutions to minimize food waste in the Klang Valley’s restaurants
Halal Practices vs Food Heritage: A Case Study of Keropok Lekor Operators in Terengganu, Malaysia
Get PDFAs global demand for halal food continues to grow, Terengganu’s food heritage must navigate the modern requirement for halal certification, especially for products, such as Keropok Lekor, which are exported beyond local markets. Hence, this study aims to examine the sustainability of halal practices in the context of food heritage, specifically focusing on Keropok Lekor operators in Terengganu, Malaysia. While existing literature has primarily addressed halal certification and supply chain management, there is limited exploration of how traditional foods like Keropok Lekor fit within the broader halal framework and cultural heritage. Therefore, a semi-structured interview was conducted with two Keropok Lekor operators in Terengganu. Hence, the interview process has been recorded, and then the recording has been transcribed using the NVIVO software. The theme has then been identified throughout the transcript. The themes used to analyze the transcript have been food heritage, halal practices, and challenges. By exploring Keropok Lekor as food heritage, investigating the halal practices among the operators, and understanding the challenges they face in maintaining these practices, the study provides insights into the intersection of cultural preservation and halal compliance. With the increasing global demand for halal-certified products, it is crucial to explore how traditional food producers navigate the delicate balance between heritage and halal standards. This study contributes to the growing body of knowledge about the sustainability of halal practices in the food industry.
 
A Theoretical Framework on the Relationship between Network Governance and Audit Pricing in Malaysia
Get PDFThe appointment of senior civil officials (SCO) to boards of directors of publicly traded firms, which distinguishes Malaysia from other countries, has prompted questions regarding SCO's credibility as the board of directors. The study's goal is to investigate the impact of network governance as depicted by senior civil officials from the audit committee (SCOAC) on audit prices. The theoretical foundation is based on social network theory and network governance. Quantitative methods will be used with data from publicly traded companies' annual reports in Bursa Malaysia. The study's findings are likely to add to the existing literature on network governance, SCOAC, and audit pricing. Furthermore, the study's findings are expected to serve as a useful reference for regulatory authorities as they draft and evaluate related policies. This will be the first study to present empirical evidence on the relationship between SCOAC and audit pricing in Malaysian public listed companies
A Conceptual Analysis of the Relationship Between Environmental Strategy and Financial Performance
Get PDFThe resource-based view (RBV) is emerging as the dominant paradigm for comprehending the interaction between strategic management and the natural environment. Based on the RBV perspective, effective environmental strategies require more resources and capabilities. Firms with more resources can build environmental capabilities more easily as it allows them to invest in technological leadership and gain a competitive advantage. In addition, companies that actively integrate the environment into their business strategies possess sustainable competitive advantages. This paper outlines the concept to investigate the correlation between environmental strategies and financial performance. From the RBV's perspective, environmental strategies are valuable, rare, difficult to imitate, and capable of enhancing firms’ competitive advantage and financial performance. Consequently, firms that adopt environmental policies are poised to elevate their image and reputation among stakeholders, customers, and shareholders, augmenting their competitive advantage and performance. This study's findings are expected to enhance the literature on corporate environmental strategies by offering additional information regarding the impact of applying such strategies on financial success. The findings of this study are also anticipated to encourage corporations to adopt environmentally friendly practice
Measuring Financial Management and Bankability of Small Business Mumpreneurs through Triangulation Study
Get PDFWomen's entrepreneurship can help to achieve “No Poverty” (SDG 1) and “Gender Equality” (SDG 5) under the targeted area of the 17 Sustainable Development Goals 2030. The business sector contributes significantly to the country's economic development. The primary purpose of this study is to explore the financial management practice and bankability of B40 mumpreneurs. The design of this study uses a mixed-method approach based on a semi-structured interview of 23 respondents and a survey study of 200 B40 entrepreneurs. All recorded data were transcribed for thematic data analysis. The survey study has been examined using AMOS SEM analysis. The triangulation method is employed to check the completeness of the interview and survey data and ensure that the data is valid. The results discovered that financial management is at a low level, with several issues having been identified. These include poor credit score, lack of financial knowledge and skills, failure to calculate proper selling price, poor business financial management, using a personal account for business matters, poor business audit, lack of savings and investments, and underutilization of financial tools. The survey showed a significant relationship between poor financial management and low bankability levels
Artificial Intelligence Adoption in Smaller Audit Practices
Get PDFThe emergence of new technologies, such as Artificial Intelligence (AI), is anticipated to profoundlyimpact the accounting and auditing sectors. AI is essential for automating repetitive tasks and enhancing auditjudgment. This study seeks to investigate the adoption of AI in small audit firms in Malaysia. A qualitativeresearch design was employed, involving semi-structured interviews with nine audit supervisors from smallaudit firms in Kuala Lumpur, Negeri Sembilan, Pahang, and Melaka. The discussion focuses on two elements:(1) Perceived Usefulness (PU) – emphasizing how AI enhances audit efficiency and accuracy, and (2) PerceivedEase of Use (PEU) – highlighting the ease of adoption and integration of AI tools into existing audit workflows.The findings reveal that AI is perceived as a valuable tool in small audit firms, improving audit quality andworkflow by significantly accelerating the audit process. However, human expertise is still required for certaincomplex tasks and decision-making. Hence, it is crucial to communicate the AI’s capabilities and constraints toprevent users from experiencing undue disappointment. The findings of this study aim to assist regulators andstandard-setters in developing guidelines, principles, and frameworks for AI adoption among audit firms inMalaysia