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Article
Publication date: 16 February 2015

Diane Rose Keeble-Ramsay and Andrew Armitage

The paper aims to report initial empirical research that examines UK employees’ perceptions of the changing nature of work since the Global Financial Crisis (GFC) to…

Abstract

Purpose

The paper aims to report initial empirical research that examines UK employees’ perceptions of the changing nature of work since the Global Financial Crisis (GFC) to consider how the financial context may have constrained HRD practice and more sustainable approaches.

Design/methodology/approach

Focus group research was facilitated through collective group discussion. Through template analysis of the findings, thematic analysis was undertaken to extend prior research. Themes used by Hassard et al. (2009) in terms of the changing nature of the workplace between 2000 and 2008, were used to provide new data on HRD realities.

Findings

Participants reported diminishing personal control over changes within the workplace and a cultural shift towards a harsher work climate. HRD was considered as silenced or absent and associated solely with low cost-based e-learning rather than acting in strategic role supporting sustainable business objectives.

Research limitations/implications

Whilst providing only indications from employee perceptions, the research identifies a weakened HRD function. The key contribution of this paper lies with empirical evidence of post-GFC constraints placed upon HRD strategies. It further identifies whether alternative development approaches, mediated by organisational learning capabilities, might emancipate UK HRD.

Social implications

This paper engenders a debate around the status of HRD within the UK organisations, further to the global financial crisis (GFC), where HRD might be viewed as at a juncture to argue a need for a shift from a financialised mode for people management towards one of greater people focus.

Originality/value

This research provides initial findings of the impact of the economic climate. It considers new approaches which might resolve expiring HRD through more sustainable practices.

Details

European Journal of Training and Development, vol. 39 no. 2
Type: Research Article
ISSN: 2046-9012

Keywords

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Article
Publication date: 30 April 2020

Wai-Yan Wong and Chee-Wooi Hooy

This paper investigates the market responses towards four types of politically connected (PCON) firms during two political events – general election and change of leader…

Abstract

Purpose

This paper investigates the market responses towards four types of politically connected (PCON) firms during two political events – general election and change of leader in Malaysia.

Design/methodology/approach

The authors capture the market response using cumulative abnormal return and further test it using regression analysis. The authors use a sample of 376 politically connected (PCON) and non-politically connected (non-PCON) firms from 2002 to 2013.

Findings

The market reacted negatively towards government-linked companies (GLC) during both events, showing that GLCs are negatively perceived by the market during political instability. On the other hand, the reaction of the market towards firms connected by businessmen does not differ from other firms. When compared to the findings of past literature, it shows the decreasing influence that businessmen have over the government leader. In further analysis, this study finds firms that are connected to the incoming government leader recorded a higher CAR as compared to firms connected to the outgoing government leader.

Practical implications

The authors’ study offers several practical implications. Knowing how the market responds to the different types of political connections might prove beneficial to investors. With this information, investors can recognize stocks with potential returns before the event date and may consider buying or selling them to capture a short-term profit. The authors’ findings may also have important implications for the management of PCON firms in terms of implementing an effective risk management and asset allocation plan to safeguard their value during political events that may disrupt the stability of their firms.

Originality/value

This paper provides an insight on how the markets have a different perception towards different types of politically connected firms during short-run political events. Past studies usually categorize political connection into a single category. With this separation, the authors are able to see how their individual CAR differs from other types of PCON.

Details

International Journal of Managerial Finance, vol. 17 no. 1
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 15 March 2018

Lee-Lee Chong, Hway-Boon Ong and Siow-Hooi Tan

This paper aims to examine how board composition, political connections and sustainability practices affect risk-taking and performance of firms.

Abstract

Purpose

This paper aims to examine how board composition, political connections and sustainability practices affect risk-taking and performance of firms.

Design/methodology/approach

This paper used secondary data and regression technique to analyse the relationship. A sample consisting of 290 firm-year observations was applied in the analysis.

Findings

The findings show that a larger board size contributes to greater financial risk; however, this risk can be reduced with more independent directors in the boardroom. An optimal board size with appropriate number of independent directors is desired, as a large board size can be harmful to firm performance. Politically connected firms also generate lower risk-taking and performance, and the double-edged sword effect of political connections needs to be considered. In terms of sustainability practices, firms have to engage in sustainable development to maximise the firms’ value, not ignoring the vital role of women in strategising business performance. However, the effect of sustainability practices on firms’ risk-taking is still not noticeable.

Research limitations/implications

Even though the sample size is not large because of the limited availability of data, the findings, to a certain extent, could be generalised to emerging markets, as most emerging markets do have similar financial and economic developments.

Practical implications

The findings from this paper can be used to support the implementation of sustainability practices, especially in those countries where sustainability initiatives are yet to be widely accepted.

Originality/value

This is one of the first few studies that examined the effect of non-financial information on risk-taking and performance of firms. This study concludes the positive effect of sustainability practices on firm performance.

Details

Corporate Governance: The International Journal of Business in Society, vol. 18 no. 4
Type: Research Article
ISSN: 1472-0701

Keywords

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Article
Publication date: 13 November 2017

Nurul Nazlia Jamil

This study aims to examine the economic role of politics on corporate governance reforms in one of emerging market, namely, Malaysia.

Abstract

Purpose

This study aims to examine the economic role of politics on corporate governance reforms in one of emerging market, namely, Malaysia.

Design/methodology/approach

The paper is based upon a literature review analysis.

Findings

The Malaysian economic, political and social settings have resulted in undue state and detrimental political influence on business, and yet the corporate governance reforms undertaken seemed not be able to resolve the matter. It is suggesting that it would be beneficial for Malaysia to have more independent regulatory bodies representing a wide variety of stakeholders to improve the transparency and accountability to ensure that the reforms are effectively enforced without conflicting with the political agenda. Legal institutional reforms also may be needed to improve the structure, capacity and performance of judicial system, as it is capable to capture reliance of economic role of politics and promoting accountability in Malaysia.

Research limitations/implications

The economic role of politics on corporate governance reforms is merely to broaden the political strategy in the corporate sector as the change in politics can improve the effectiveness of corporate governance reforms. Moreover, the economic role of politics raises the tone of the corporate governance reforms, and it implies that policymakers need to have effective corporate governance strategy in dealing with the reforms initiatives in areas that have strong political interventions.

Originality/value

Regulatory and judicial implications are offered as a means to improve corporate governance in Malaysia.

Details

International Journal of Law and Management, vol. 59 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

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Article
Publication date: 8 June 2012

Elinda Esa and Nazli Anum Mohd Ghazali

The purpose of this paper is to investigate whether there has been a change in the level of corporate social responsibility (CSR) disclosure and to determine whether

Abstract

Purpose

The purpose of this paper is to investigate whether there has been a change in the level of corporate social responsibility (CSR) disclosure and to determine whether corporate governance attributes influence CSR disclosure in corporate annual reports of Malaysian government‐linked companies (GLCs).

Design/methodology/approach

The annual reports of 27 GLCs for two years (2005 and 2007) were analysed using content analysis. Multiple regression analysis was performed to identify factors influencing CSR disclosure in annual reports.

Findings

Consistent with expectations, the paired‐sample t‐tests showed that there was an increase (significant at the 1 percent level) in the extent of CSR disclosure. The multiple regression analysis revealed that board size was positively associated and statistically significant (at the 1 percent level) with the extent of CSR disclosure.

Research limitations/implications

The regression model reported an R2 of 33.9 percent, which means that almost 66 percent of factors influencing CSR disclosure in Malaysian GLCs have not been captured by the model. These other factors may perhaps be identified through other research methods such as questionnaire surveys or interviews.

Practical implications

The findings appear to suggest that the government efforts in promoting CSR among GLCs through the introduction of the Silver Book in 2006 have had some positive impact on CSR disclosure in annual reports. The results also imply that larger board size through wider exchange of ideas and experience could lead to better appreciation and involvement in corporate social activities and hence disclosure in annual reports.

Originality/value

This paper is one of the few studies to examine CSR disclosure and corporate governance attributes in GLCs after the introduction of new initiatives to promote CSR.

Details

Corporate Governance: The international journal of business in society, vol. 12 no. 3
Type: Research Article
ISSN: 1472-0701

Keywords

Content available
Book part
Publication date: 7 August 2017

Abstract

Details

Social Housing and Urban Renewal
Type: Book
ISBN: 978-1-78714-124-7

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Book part
Publication date: 12 February 2021

Kamal Ab Hamid, Shahrizal Badlishah and Abdul Rahman Jaaffar

The abolishment of Goods and Services Tax (GST) has had the effect of reversing an initial success in broadening the country's tax base. In contrast, the abolishment of…

Abstract

The abolishment of Goods and Services Tax (GST) has had the effect of reversing an initial success in broadening the country's tax base. In contrast, the abolishment of GST has had the effect of reversing an initial success in broadening the country's tax base. Moreover, the government has a better capability of managing debt than the private sector due to its central bank with fiat money. However, Malaysia's total reserves have not increased significantly in recent times, despite the trade surplus, given the movement in the financial accounts. In such circumstances, it is incumbent on the government to expand its balance sheet to pick up the slack of the private sector. Hence, the reform agenda has restored Malaysia's image globally. More importantly, a reminder from the great recession of 2008 is that the private sector, when faced with great uncertainty, cannot continuously provide employment. However, before policymakers ponder to the views of rating agencies, they need to consider the points above and debate among themselves about what is truly in Malaysia's best interest. As the matter of fact, manufactured goods accounted for some 86% of Malaysia's total exports. We see no conflict of “crowding out” if the government and government-related companies take on radical risk that the private sector is unwilling or incapable of taking on. In fact, manufactured goods accounted for some 86% of Malaysia's total exports. It is important that policymakers understand that the government's deficit is the private sector's savings. The direct cross-shareholdings of government linked corporations (GLCs) and its resultant crowding-out of private investors have received heightened policy priority by the government where major reshuffled on the reporting lines of various GLCs by ministries contributes cross-shareholdings of GLCs and its resultant crowding-out of private investors.

Details

Modeling Economic Growth in Contemporary Malaysia
Type: Book
ISBN: 978-1-80043-806-4

Keywords

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Article
Publication date: 1 December 1998

Usha C.V. Haley and Linda Low

The Singaporean government has enjoyed an astounding record of success based on its ability to attract MNCs and corresponding capital. Government‐led development has…

Abstract

The Singaporean government has enjoyed an astounding record of success based on its ability to attract MNCs and corresponding capital. Government‐led development has involved crafting a culture that will adapt to MNCs’ needs and to fast‐changing global environments in a restructured economy. The socially re‐engineered Singaporean culture appears hierarchical, disciplined, authoritarian and a showcase for technocratic management. Yet, further crafting of the Singaporean culture along the top‐down, technocratic model seems to result in a diminishing ability to produce creative, innovative and productive workers for the knowledge economy and the MNCs that dominate it. The authors sketch the ideological bases for Singapore’s crafted culture and explore Singapore’s distinctive characteristics as well as governmental policies that have molded this culture. They proceed to highlight specific governmental policies that are designing Singapore for the restructured, globalizing and fast‐changing knowledge economy; and discuss the competing model offered by Taiwan. Finally, the authors propose some implications for civic society and cultural change in Singapore.

Details

Journal of Organizational Change Management, vol. 11 no. 6
Type: Research Article
ISSN: 0953-4814

Keywords

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Book part
Publication date: 4 May 2021

Cláudia Pinto, Graça Azevedo and Jonas Oliveira

The present chapter tries to assess the state of art of enterprise risk management (ERM) among Portuguese non-financial companies regarding two main aspects: the ERM…

Abstract

The present chapter tries to assess the state of art of enterprise risk management (ERM) among Portuguese non-financial companies regarding two main aspects: the ERM background in Portugal and the level of disclosure of ERM practices by non-financial listed companies. Since the analysis of disclosures is useful to understand the level of evolution and adoption of ERM framework we tried to assess the ERM practices disclosed by 26 Portuguese non-financial listed companies at the Euronext Lisbon Stock Exchange regulated market, during the period of 2006–2016. Main findings indicate that regulation on ERM in Portugal emanates from three main Codes (The Portuguese Companies Code, The Stock Exchange Code, and The Corporate Governance Code). The ERM professionalization in Portugal is its infancy and has been promoted mainly by the Institute of Portuguese Internal Auditors. Moreover, research on topics such as risk reporting and risk management/ERM is very scarce. Overall, findings of prior literature are consistent with results from our exploratory study. We conclude that Portuguese non-financial listed companies still disclose very little information on ERM activities. However, over the period of analysis, the disclosure practices evolved positively. Findings show that ERM disclosure can still be extensively improved in the future.

Details

Enterprise Risk Management in Europe
Type: Book
ISBN: 978-1-83867-245-4

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Article
Publication date: 9 March 2021

Ann Marie Sidhu and Jane Gibbon

The purpose of this study is to examine how accounting for sustainable development (SD) in Malaysian organisations decouples economic growth from ecological consequences…

Abstract

Purpose

The purpose of this study is to examine how accounting for sustainable development (SD) in Malaysian organisations decouples economic growth from ecological consequences. The research analyses the empirical evidence of organisational responses and actions that purport to support SD in a developing country.

Design/methodology/approach

This study uses a discursive model of institutional theory to examine the relationship between texts, discourse and action within Clean Development Mechanism (CDM) organisations. This study uses both qualitative content and interpretive textual analysis of Malaysian organisations project design documents (PDDs) and interview transcripts to interpret and determine the “conceptions” of SD.

Findings

Documentation and interviews with Malaysian CDM organisations show that SD conceptions range from “business as usual” to weak ecological modernisation. The key narratives are both economic and technocratic but have little to do with SD concerns about ecological limitations and social equity.

Originality/value

The empirical evidence provides insights into the motivations and challenges of a developing country's commitment to SD. We perform the study in an accountability space other than corporate financial reporting. Unlike external corporate reports, PDDs are closer to the underlying organisational reality as they are internal project documents made publicly accessible through the United Nations Framework Convention on Climate Change, allowing for a more transparent evaluation. The evidence shows how the organisational approach to SD is institutionalised through the mediating role of discourse and texts used by the actors within the CDM.

Details

Accounting, Auditing & Accountability Journal, vol. 34 no. 5
Type: Research Article
ISSN: 0951-3574

Keywords

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