Staff View: A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]

A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]

In a modern business environment, business is considered more fragile as compared to the traditional business setting due to technology sophistication and global market uncertainty. Firms cannot run away from managing unique and complicated risk issues when exploring greater opportunities for a high...

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Main Authors:	Awang, Naqiah, Hussin, Nur Syafiqah, Razali, Fatin Adilah, Abu Talib, Shafinaz Lyana
Format:	Article
Language:	English
Published:	2021
Subjects:	H Social Sciences (General) LG Individual institutions Statistical methods
Online Access:	https://ir.uitm.edu.my/id/eprint/56089/1/56089.pdf https://ir.uitm.edu.my/id/eprint/56089/ http://ejssh.uitm.edu.my
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id	my.uitm.ir.56089
record_format	eprints
spelling	my.uitm.ir.560892022-03-01T09:11:24Z https://ir.uitm.edu.my/id/eprint/56089/ A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.] Awang, Naqiah Hussin, Nur Syafiqah Razali, Fatin Adilah Abu Talib, Shafinaz Lyana H Social Sciences (General) LG Individual institutions Statistical methods In a modern business environment, business is considered more fragile as compared to the traditional business setting due to technology sophistication and global market uncertainty. Firms cannot run away from managing unique and complicated risk issues when exploring greater opportunities for a higher return in a competitive market. Realizing this, the Securities Commission of Malaysia had encouraged large, listed firms to form a separated Risk Management Committee to ensure better anticipation and responsiveness towards risk management issues. However, this practice is still voluntary among Malaysian listed firms most probably to allow internal coordination among different business atmospheres. Hence, this paper aims to describe the adoption level of the best practices to establish a standalone Risk Management Committee among the top 50 largest listed firms in Bursa Malaysia. Given the issuance of the Malaysian Code of Corporate Governance 2017 before the attributes of the Risk Management Committee were further explored. Secondary data were adopted, and information was gathered from the firms’ annual reports in 2018 and 2019. It is available on the Bursa Malaysia website and each sampled firm’s website. The results revealed that more than half of Malaysian listed firms had taken the initiative to establish a standalone Risk Management Committee following the best practices recommended by the Malaysian Code of Corporate Governance 2017. However, the composition of Risk Management Committee members is heavily tied to the Audit Committee. This current study provides insight into the risk governance structure among Malaysian listed firms after issuing the Malaysian Code of Corporate Governance 2017. 2021-09-27 Article NonPeerReviewed text en https://ir.uitm.edu.my/id/eprint/56089/1/56089.pdf ID56089 Awang, Naqiah and Hussin, Nur Syafiqah and Razali, Fatin Adilah and Abu Talib, Shafinaz Lyana (2021) A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]. Journal of Social Sciences and Humanities, 5 (2). pp. 84-93. ISSN 2600-7274 http://ejssh.uitm.edu.my
institution	Universiti Teknologi Mara
building	Tun Abdul Razak Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Teknologi Mara
content_source	UiTM Institutional Repository
url_provider	http://ir.uitm.edu.my/
language	English
topic	H Social Sciences (General) LG Individual institutions Statistical methods
spellingShingle	H Social Sciences (General) LG Individual institutions Statistical methods Awang, Naqiah Hussin, Nur Syafiqah Razali, Fatin Adilah Abu Talib, Shafinaz Lyana A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]
description	In a modern business environment, business is considered more fragile as compared to the traditional business setting due to technology sophistication and global market uncertainty. Firms cannot run away from managing unique and complicated risk issues when exploring greater opportunities for a higher return in a competitive market. Realizing this, the Securities Commission of Malaysia had encouraged large, listed firms to form a separated Risk Management Committee to ensure better anticipation and responsiveness towards risk management issues. However, this practice is still voluntary among Malaysian listed firms most probably to allow internal coordination among different business atmospheres. Hence, this paper aims to describe the adoption level of the best practices to establish a standalone Risk Management Committee among the top 50 largest listed firms in Bursa Malaysia. Given the issuance of the Malaysian Code of Corporate Governance 2017 before the attributes of the Risk Management Committee were further explored. Secondary data were adopted, and information was gathered from the firms’ annual reports in 2018 and 2019. It is available on the Bursa Malaysia website and each sampled firm’s website. The results revealed that more than half of Malaysian listed firms had taken the initiative to establish a standalone Risk Management Committee following the best practices recommended by the Malaysian Code of Corporate Governance 2017. However, the composition of Risk Management Committee members is heavily tied to the Audit Committee. This current study provides insight into the risk governance structure among Malaysian listed firms after issuing the Malaysian Code of Corporate Governance 2017.
format	Article
author	Awang, Naqiah Hussin, Nur Syafiqah Razali, Fatin Adilah Abu Talib, Shafinaz Lyana
author_facet	Awang, Naqiah Hussin, Nur Syafiqah Razali, Fatin Adilah Abu Talib, Shafinaz Lyana
author_sort	Awang, Naqiah
title	A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]
title_short	A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]
title_full	A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]
title_fullStr	A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]
title_full_unstemmed	A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]
title_sort	descriptive study on standalone risk management committee adoption among the top 50 malaysian firms / naqiah awang... [et al.]
publishDate	2021
url	https://ir.uitm.edu.my/id/eprint/56089/1/56089.pdf https://ir.uitm.edu.my/id/eprint/56089/ http://ejssh.uitm.edu.my
_version_	1726795669413298176
score	13.211869

A descriptive study on standalone risk management committee adoption among the top 50 Malaysian firms / Naqiah Awang... [et al.]

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