UNIMAS Journal (Universiti Malaysia Sarawak)
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Experimental Connection between ESG Scores and Key Financial Indicators: ROA, ROE AND TOBIN’S Q
Get PDFThis study explores the relationship between Environmental, Social, and Governance (ESG) practices and the financial performance of Malaysian listed firms, focusing on key financial indicators such as Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q (TQ). Using a quantitative approach, panel data from 30 publicly traded Malaysian companies between 2018 and 2020 was analysed through Ordinary Least Squares (OLS) and Generalized Least Squares (GLS) regression models. The findings demonstrate a significant positive relationship between ESG scores and ROA, indicating that firms with stronger ESG commitments tend to perform better in terms of asset returns. However, the relationship between ESG and ROE or Tobin’s Q is less conclusive, with mixed results across different model specifications. Variables such as firm size, leverage, and liquidity showed no consistent impact on financial performance. The study highlights the financial benefits of ESG adoption for Malaysian companies and provides insights for investors pursuing sustainable investment strategies. These findings offer practical implications for firms seeking to enhance their competitiveness by integrating ESG practices into their operations
ORGANIC FOOD IN THE AGE OF UNCERTAINTY: FACTORS IMPACTING CONSUMER INTENTIONS DURING THE PANDEMIC
Get PDFThe rising global concerns about health and the environment have led to a substantial increase in demand for organic farm products compared to conventional ones. However, there is limited research on consumers' behavioural intentions regarding organic product consumption during pandemics such as Covid-19, especially in regions like Sarawak, Malaysia. This study aims to investigate the factors that influence consumers' intentions to purchase organic products amidst the pandemic. The study expands on the attitude component of the Theory of Planned Behaviour (TPB), incorporating environmental concern, health consciousness, trust, product quality, and affordability. A questionnaire was used to collect data from consumers of organic farm products in Sarawak, Malaysia, and the collected data was analysed using partial least squares - structural equation modelling (PLS-SEM) technique. The findings indicate a significant positive impact of both environmental concern and affordability on purchase intention. However, health consciousness exhibited a negative influence, while product quality and trust did not significantly impact consumers' intention to purchase organic products during the pandemic. This study aims to raise consumers' awareness about the demand for organic products during the pandemic and assist the government and industry players in predicting future demand and developing strategies to strengthen the organic food industry
EFFECTIVENESS OF RGEC- BANK SOUNDNESS LEVEL AND INFLATION RATE IN PREDICTING POTENTIAL BANKRUPTCY OF BANKS: EVIDENCE FROM INDONESIA
Get PDFThis study examines the effectiveness of RGEC-based bank soundness and inflation rate in predicting the potential for bankruptcy. The samples in this study are the banking sector companies listed on the Indonesia Stock Exchange (IDX) from 2016 to 2020. Using several proxies of the RGEC-based bank soundness and inflation rate, the results of this study indicate that the loan-to-deposit ratio (LDR), self-assessment of good corporate governance, and capital adequacy ratio (CAR) affect the potential of bankruptcy negatively and significantly. Furthermore, non-performing loans (NPL), return on assets (ROA), and inflation rate do not affect the potential for bankruptcy. The result shows that only two indicators, among four of RGEC-based bank soundness, effectively predict the potential bankruptcy. These results suggest that if banking management wants to predict and anticipate bankruptcy based on the bank’s soundness, it can be considered to see and maintain the LDR and self-assessment of GCG and CAR
THE EFFECT OF AUDIT CHARACTERISTICS ON FINANCIAL REPORTING QUALITY AND THE MEDIATING ROLE OF AUDIT QUALITY: EVIDENCE FROM MALAYSIAN PUBLIC COMPANIES
Get PDFOur paper examines the effect of audit characteristics on financial reporting quality (FRQ) and the role of audit quality (AQ) as a mediator. The study adopted 201 companies listed in Malaysian Bursa from 2017 to 2019 to achieve our objective. The study used Stata to analyze the data to estimate the effect proposed in the hypotheses. Findings show that only audit fees affected FRQ positively. At the same time, audit fees and company size have positively influenced AQ. On the other hand, AQ has improved the link between audit characteristics and FRQ since the results show a positive effect of audit tenure, audit fees, and audit company size on FRQ through the mediator. This research can help the Institute of Internal Auditors and the Association of Certified Fraud Examiners improve their rules and regulations by enhancing audit characteristics, technical competence, and functionality to help organizations improve AQ. The study's findings are relevant to governments and investors worldwide worried about FRQ and want to guarantee that operations in Malaysia and other emerging markets are closely monitored
Environmental Social And Governance (ESG) And Corporate Governance in ASEAN A Threshold Effects of Corporate Strategy
Get PDFSustainable development goals (SDGs) constitute 17 sets of goals to be achieved by the end of the said year. The SDGs prioritize problems associated with hunger, inequality, climate change, environmental destruction, peace, and justice for a better global future (United Nations, 2018). This study has two objectives, first, to examine the relationship between corporate governance mechanisms and corporate sustainability performance across ASEAN-listed companies. Second, to explore the threshold effect of corporate strategy in a nexus relationship between corporate governance mechanisms and corporate sustainability performance. This study uses 118 companies in ASEAN-5 countries as study’s sample. The period covers from 2011-2020. Both fixed effect model and fixed effect threshold regression are employed to capture linear and nonlinear estimation, respectively. The study validates the female directors and the independent directors on ASEAN boards positively impacts corporate sustainability. Intriguingly, the intervention of corporate strategy will mitigate the low company’s ESG score while strengthening the link between corporate governance and ESG score. This study has practical implications for companies, investors, and regulators looking to in incorporate ESG factors into capital expenditure decisions and reporting
BUSINESS WHERE SOCIETY MATTERS: ESSAYS IN HONOUR OF ERNEST DE RUN, RUJHAN MUSTAFA, HAMRI TUAH AND SALBIAH EDMAN
Get PDFAt a time when businesses are attempting to acquire socially good practices, especially since the landmark agreement at the 21st Conference of Parties meeting that led to the Paris Accord to cap temperature rise to 1.5 degrees Celsius over the next 100 years with 2005 as the starting year. Not only was business then dominated by practices that overly emphasized profit making. Indeed, this was still the prevailing environment when the International Journal of Business and Society (IJBS) was launched in 2000 at Universiti Malaysia Sarawak (UNIMAS). Ernest De Run, Rujhan Mustafa, Hamri Tuah, and Salbiah Edman were among the founding members of the journal that came together to launch the journal to promote ethics and societal objectives in academia. Consequently, this introductory paper provides the background to honor these four founding scholars. In doing so, the introduction addresses the key topics the founding editorial established as specially promoted societal pillars of the journa
CHARTING THE ECONOMY: REVISITING THE INDUSTRIAL POLICY EXPERIENCE OF MALAYSIA
Get PDFThe much-maligned industrial policy approach by mainstream economists got a major push when the United States and European Union began introducing subsidies to support the import-substitution development of micro-chips to offset shortages caused by a fall in imports from China triggered by geopolitical developments since the turn of the millennium. Consequently, it opened the floodgates for the introduction of more assertive interventions through industrial policies. This paper revisits Malaysia’s historical experience with industrial policies, and examines its impact on industrialization and the Malaysian economy. In doing so the paper critically assesses the capacity and effectiveness of the New Industrial Policy 4 (NIMP4) in successfully transforming the Malaysian economy from low- and medium-value-added economic activities in 2023 to high value-added economic activities in 2030, so as to support the achievement of progressive wages from a median of RM2,600 in 2023 to RM4,500 in 2030
STABILITY IN CHAOS: IMPACT OF MONETARY, FISCAL, AND FIRM CHARACTERISTICS ON INVESTOR SENTIMENT IN ASIAN EMERGING MARKETS
Get PDFThis study investigates the impact of firm characteristics, monetary policies, and fiscal policies on investor sentiment, specifically focusing on market volatility and trading volume in six Asian emerging markets during the pre-pandemic and pandemic periods. Using panel data regression on a sample of 5,619 firms between 2015 and 2023, this study analyses the distinct roles of firm-specific factors and macroeconomic policies in shaping market behaviour during periods of economic instability. The findings reveal that firm characteristics such as capital structure and payout policies consistently drive both volatility and trading volume. Monetary policies, particularly interest rates and money supply, showed heightened significance during the pandemic, while fiscal policies, though largely insignificant pre-pandemic, became more relevant during the crisis. The study's results provide critical insights for policymakers and investors on the dynamic interplay between firm-level and macroeconomic factors during crisis periods, emphasising the need for coordinated policy responses
Preliminary Characterisation of Lowland and Upland Rice from Sarawak, Malaysian Borneo: Characterising lowland and upland rice from Sarawak
No full textOryza sativa L. or commonly known as rice belongs to the family of Poaceae. In Malaysia, rice is normally cultivated either as lowland or upland rice. Sarawak is a state with diverse types of rice. All Sarawak rice are landraces. Despite the fact that Sarawak is rich in rice biodiversity, the assessment of the morphological traits which may provide basic information that is useful for the future breeding programs is still unavailable. The nomenclature of the landraces is based on the name given by the farmers. Problems arise when landraces having the same morphological characteristics were given different names and vice versa. In addition, the purity of seeds is unreliable. Common practices by the local farmers such as planting different rice landraces in the same field either in one plot or in different plots but very near to each other has contributed to the impurity of the seeds. The present study was undertaken with the objective to characterise the morphological traits of 22 lowland and 22 upland rice accessions from the North-Western region of Sarawak. The morphological traits observed on the 44 rice accessions viz., blade colour, ligule shape, ligule colour, auricle colour, heading days, flowering days, panicle type, culm length, panicle number, number of filled grain, seed length and grain colour exhibited variations. There are variations which may be considered in future Sarawak rice breeding programs
Assessment of Microplastics in the Surface Water of Mengkabong and Salut Rivers of Sabah, Malaysia: Microplastics in the River Waters of Sabah
No full textMicroplastics in river water are a global risk to aquatic ecosystems due to their longevity in the environment, causing toxicity, ingestion by organisms, and bioaccumulation. However, knowledge and research on microplastic pollution are still scarce in Sabah, Malaysia, as no studies have been carried out before. Hence, this study aimed (1) to determine the occurrence of microplastics in the surface water of the Mengkabong and Salut Rivers in Sabah and (2) to assess the spatial variability in the concentration and characteristics of microplastics within these rivers. Microplastics were extracted, counted, and characterized for their shape, colour, size, and polymer. An independent t-test was used to compare microplastic abundance and characteristics between the two rivers, whereas Hierarchical cluster analysis was used to group the eight stations based on similarities in microplastics. This study detected microplastics at all stations, with a significantly higher concentration (p < 0.05) of microplastic in the Salut River (4.78±2.43 items/L) compared to those in the Mengkabong River (1.63±0.87 items/L). Fibre was the most abundant microplastic shape in both Mengkabong (78%) and Salut (57%), likely sourced from textile washing, fishing, and aquaculture activities in the vicinity. Transparent microplastics were prevalent in Mengkabong (30%), while black microplastics dominated in Salut (42%). Size distribution exhibited the opposite trend, with 74% larger-sized microplastics in Mengkabong but 63% smaller-sized microplastics in Salut. Polymer analysis revealed rayon (68%) dominance in Mengkabong, while polyethylene (34%) and rayon (33%) in Salut. Spatial heterogeneity of microplastics was evident through cluster analysis, categorizing stations into clean, moderately polluted, and polluted. Stations adjacent to areas with fewer land-based activities were clean with a low microplastics count, while areas with intense developments, residential, and fishing activities were polluted with high microplastic counts. This study underscores the presence of microplastics in Sabah's rivers, serving as a foundational reference for future research. It is also imperative to conduct regular monitoring of microplastics in the rivers of Sabah since it is anticipated that microplastics contamination will escalate in the coming years globally