IJBMC Volume 3, Issue 2, 2023
The Impact of Environmental, Social, Governance (ESG) Disclosure on Financial Performance of Listed Healthcare Companies in Bursa Malaysia: A Panel Data Study
Chua I-Vern Sharon, Zukarnain Zakaria, Vijayesvaran Arumugam, Mohd Roslan Ismail
ABSTRACT
There is increasing concern among policymakers globally towards business practices that could contribute to the climate change risk. Business’s operation focuses on profit are often performed at the expense of environmental preservation. Subsequently, on top of financial indicators, sustainability initiative has become one of the non-financial indicators used in evaluating the firm’s performance. Thus, the objective of this paper is to examine the impact of ESG disclosure on the financial performance of listed companies in the healthcare industry in Bursa Malaysia. Specifically, this paper investigates the impact of an individual component of ESG on the companies’ financial performance measured using ROE and Tobin Q. Random effects model of panel data spanning from 2016 to 2022 gathered from 15 healthcare-listed companies in Bursa Malaysia have been in the estimation. The results showed that overall ESG disclosure is positively associated with the firm’s ROE and market performance Tobin Q, but the relationship is only significant in the case of ROE. For individual ESG subcomponents, this paper found that environmental commitment is negatively and significantly associated with ROE, while for other components, social and governance, both are not significantly associated with ROE or Tobin Q. In conclusion, this study finds support that ESG as an aggregate can affect the financial performance of healthcare-related companies, but not the individual component of ESG. Therefore, ESG investments should be equally distributed amongst each pillar to produce a significant on the financial performance of the company.
Keywords: ESG, Sustainability, Financial Performance, Healthcare, Malaysia
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Prediction of Thai Consumers’ Behavioral Intentions to Use Home Energy Management System
Thanit Innual, Bordin Phayaphrom
ABSTRACT
This study aimed to investigate the factors influencing consumers’ intention to use home energy management systems (HEMS) in residential homes. A questionnaire survey was conducted with 500 representative groups of homeowners and residents in Bangkok and the Metropolitan Area of Thailand. Descriptive analysis and inferential statistical analysis were used to analyze the data. The results revealed that attitude toward behavior, perceived behavioral control, facilitating conditions, social influence, and performance expectancy have a significant impact on consumers’ intention to use HEMS, while effort expectancy had no significant impact. The study has contributed to provide practical guidelines for regulators, entrepreneurs, and policymakers to improve strategies for HEMS adoption and for marketers and stakeholders to plan distribution, consumer channels, and supply chain management.
Keywords: HEMS, UTAUT, TPB, consumers’ behavioral intentions, Thailand
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Pengaruh Prinsip Akauntabiliti Dalam Pengurusan Governans Alam Sekitar Di Malaysia
Siti Hajar Binti Mokhter, Azahan Awang, Muhammad Asyraf Bin Mohd Azmi
ABSTRAK
Kealpaan dalam mengejar pembangunan yang pesat seringkali mengabaikan aspek alam sekitar berpunca daripada pengurusan dan tadbir urus alam sekitar yang lemah seterusnya mengakibatkan kerosakan alam sekitar. Menyedari akan pentingnya pengurusan alam sekitar yang baik maka konsep pembangunan lestari telah diperkenalkan. Dalam usaha mencapai pembangunan lestari, governans alam sekitar yang menyokong konsep governans kelestarian telah dijalankan oleh pihak-pihak berkepentingan mengikut perundangan dan akta yang telah ditetapkan. Salah satu prinsip governans alam sekitar yang baik adalah pengaruh akuantabiliti. Oleh itu, kajian ini adalah bertujuan untuk mengenalpasti pengaruh akauntabiliti dalam mempengaruhi governans alam sekitar di Malaysia. Kajian kualitatif menggunakan kaedah persampelan bertujuan dimana temubual mendalam seorang responden yang terlibat secara langsung dalam governans alam sekitar telah dipilih, serta kajian dokumen-dokumen perundangan yang melibatkan Akta Kualiti Alam Sekeliling 1974 telah dibuat. Analisis menunjukkan akauntabiliti memberi tumpuan kepada tanggungjawab kerajaan, sektor swasta dan masyarakat dalam governan alam sekitar di Malaysia. Jabatan Alam Sekitar (JAS) memainkan peranan penting dalam menguatkuasakan Akta Kualiti Alam Sekeliling 1974 dalam menangani pencemaran industri. Kerjasama dan tanggungjawab bersama antara pelbagai kementerian, agensi kerajaan, pihak industri dan masyarakat diiktiraf sebagai penting untuk governan alam sekitar yang berkesan.
Key words : pembangunan lestari, governan alam sekitar, prinsip akauntabiliti
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