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The effect of enterprise risk management on firm value: evidence from Malaysian technology firms

This paper aims to examine the relationship between ERM and firm value in Malaysia. In the past literature, ERM had been argued to increase firm value but empirical evidence shows mixed and inconclusive results. Using sample from 2004 to 2012, this paper furthers the analysis on the relationship bet...

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Main Authors: Mohd. Hafizuddin Syah Bangaan Abdullah,, Hawati Janor,, Mohamad Abdul Hamid,, Puan Yatim,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2017
Online Access:http://journalarticle.ukm.my/11299/1/12472-60317-1-PB.pdf
http://journalarticle.ukm.my/11299/
http://ejournal.ukm.my/pengurusan/issue/view/975
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spelling my-ukm.journal.112992018-01-24T13:34:31Z http://journalarticle.ukm.my/11299/ The effect of enterprise risk management on firm value: evidence from Malaysian technology firms Mohd. Hafizuddin Syah Bangaan Abdullah, Hawati Janor, Mohamad Abdul Hamid, Puan Yatim, This paper aims to examine the relationship between ERM and firm value in Malaysia. In the past literature, ERM had been argued to increase firm value but empirical evidence shows mixed and inconclusive results. Using sample from 2004 to 2012, this paper furthers the analysis on the relationship between ERM and firm performance among technology firms in Malaysia. Indeed, technology industry is the fastest growing and a volatile industry, which requires continuous innovation. These make technology firms more prone to risk exposure. In analyzing this issue, dynamic panel data is employed to allow cross-sectional and time series analysis. Our results show that the implementation of ERM in the previous year has strong negative relationship with firm value at 1 percent significance level. It supports the argument that the effect of ERM is not immediately realized as well as entails high implementation cost. The findings provide useful input and insight in formulating new policy in relation to corporate governance, particularly ERM in Malaysia. Penerbit Universiti Kebangsaan Malaysia 2017 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/11299/1/12472-60317-1-PB.pdf Mohd. Hafizuddin Syah Bangaan Abdullah, and Hawati Janor, and Mohamad Abdul Hamid, and Puan Yatim, (2017) The effect of enterprise risk management on firm value: evidence from Malaysian technology firms. Jurnal Pengurusan, 49 . pp. 3-11. ISSN 0127-2713 http://ejournal.ukm.my/pengurusan/issue/view/975
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description This paper aims to examine the relationship between ERM and firm value in Malaysia. In the past literature, ERM had been argued to increase firm value but empirical evidence shows mixed and inconclusive results. Using sample from 2004 to 2012, this paper furthers the analysis on the relationship between ERM and firm performance among technology firms in Malaysia. Indeed, technology industry is the fastest growing and a volatile industry, which requires continuous innovation. These make technology firms more prone to risk exposure. In analyzing this issue, dynamic panel data is employed to allow cross-sectional and time series analysis. Our results show that the implementation of ERM in the previous year has strong negative relationship with firm value at 1 percent significance level. It supports the argument that the effect of ERM is not immediately realized as well as entails high implementation cost. The findings provide useful input and insight in formulating new policy in relation to corporate governance, particularly ERM in Malaysia.
format Article
author Mohd. Hafizuddin Syah Bangaan Abdullah,
Hawati Janor,
Mohamad Abdul Hamid,
Puan Yatim,
spellingShingle Mohd. Hafizuddin Syah Bangaan Abdullah,
Hawati Janor,
Mohamad Abdul Hamid,
Puan Yatim,
The effect of enterprise risk management on firm value: evidence from Malaysian technology firms
author_facet Mohd. Hafizuddin Syah Bangaan Abdullah,
Hawati Janor,
Mohamad Abdul Hamid,
Puan Yatim,
author_sort Mohd. Hafizuddin Syah Bangaan Abdullah,
title The effect of enterprise risk management on firm value: evidence from Malaysian technology firms
title_short The effect of enterprise risk management on firm value: evidence from Malaysian technology firms
title_full The effect of enterprise risk management on firm value: evidence from Malaysian technology firms
title_fullStr The effect of enterprise risk management on firm value: evidence from Malaysian technology firms
title_full_unstemmed The effect of enterprise risk management on firm value: evidence from Malaysian technology firms
title_sort effect of enterprise risk management on firm value: evidence from malaysian technology firms
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2017
url http://journalarticle.ukm.my/11299/1/12472-60317-1-PB.pdf
http://journalarticle.ukm.my/11299/
http://ejournal.ukm.my/pengurusan/issue/view/975
_version_ 1643738441526018048
score 13.211869

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