The application of disclosure law, principles and requirements of corporate governance among public listed companies in Malaysia

• 第一著者: Al Sweity, Rami Mohammad Abed Al Rasoul
• フォーマット: 学位論文
• 言語: English; English; English
• 出版事項: 2018
• 主題: HD2709-2930.7 Corporations; KPG1-6999 Malaysia
• オンライン･アクセス: https://etd.uum.edu.my/8698/1/s94125_01.pdf; https://etd.uum.edu.my/8698/2/s94125_02.pdf; https://etd.uum.edu.my/8698/3/s94125_references.docx; https://etd.uum.edu.my/8698/

Weakness in corporate governance and lack of disclosure are considered as causes of the Asian Economic Crisis in 1997-98. As a consequence, investors have demanded improvements in corporate governance practices as a guideline for companies to disclose accurate information. The Malaysian Code of Corporate Governance has consistently been revised to illustrate the guidelines towards best practices on the processes being adopted by companies in their operations to achieve the best governance framework. As most of the principles in the Code are largely derived from developed countries, it is timely to explore whether the principles influence disclosure of listed companies. The aim of this study is to investigate the application of disclosure law, principles and requirements among public listed companies in Malaysia. Qualitative data were collected from companies’ annual reports (representing 30% of 742 companies) from the period of 2012-2015, interviews, legislations and laws, etc. Analytical, comparative and content analysis approach were employed in analysing the law and policy, corporate governance principles and best practice of disclosure requirements among public listed companies. The findings of this study are as follows: firstly, the current laws in Malaysia are sufficient to govern corporate disclosure, but they are dispersed in more than one act/ laws or legislative system, some of which can be found in the Capital Market and Services Act 2007 and others in Companies Act 2016; secondly, public listed companies have applied the principles of the corporate governance; thirdly, the Public Listed Companies have partially reported the best practice of the companies in their annual report. The study recommends that the disclosure principles and laws should be made compulsory for every public listed company. Bursa Malaysia should also stipulate clear and full provisions that specify the disclosure of information through the companies’ annual reports and general corporate information to help investors to make good and timely decisions.