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- Title
Does Commitment to Anti-Corruption Matter?
- Authors
Devi, Susela; YoungKyung Ko; Subramaniam, Ravichandran
- Abstract
The Malaysian capital market regulators take great efforts to continuously enhance corporate governance codes and practices to improve transparent reporting and enhance board responsibility and investors’ protection. In 2017, the Malaysian Institute of Corporate Governance published a report assessing the transparency of reporting by top 100 listed companies in respect of anti-corruption, organizational disclosure, and sustainability. This study uses this unique set of data on scores on anti-corruption commitment, organizational transparency, and sustainability to investigate the association between corporate transparency and firm value, and whether political connections moderate this relationship. Not surprisingly, findings show that listed government-linked companies (GLCs) have higher scores than non-GLCs, such as family and foreign firms. Firms with enhanced anti-corruption commitment are more likely to have higher firm value, and this relationship is stronger for politically connected firms. The implications for investors and regulators are discussed in this paper.
- Subjects
FAMILY-owned business enterprises; CAPITAL market; INVESTOR protection; CORPORATE governance; ORGANIZATIONAL transparency
- Publication
KnE Social Sciences, 2019, Vol 2019, p992
- ISSN
2518-668X
- Publication type
Article
- DOI
10.18502/kss.v3i22.5107