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Sustainability risk management: are Malaysian companies ready?

The sustainability issues resulting from Malaysian palm oil production have garnered much interest in the palm oil industry. Consequently, Malaysian palm oil industry is indirectly exposed to sustainability risks, including boycott and reputational and regulatory risks. Hence, the industry encounter...

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Main Authors: Abdul Razak, Shazrul Ekhmar, Mustapha, Mazlina, Mohammed Shah, Sabarina, Abu Kasim, Nor Aziah
Format: Article
Language:English
Published: Elsevier 2024
Online Access:http://psasir.upm.edu.my/id/eprint/106081/1/1-s2.0-S2405844024007126-main4.pdf
http://psasir.upm.edu.my/id/eprint/106081/
https://www.sciencedirect.com/science/article/pii/S2405844024007126
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spelling my.upm.eprints.1060812024-07-10T06:59:43Z http://psasir.upm.edu.my/id/eprint/106081/ Sustainability risk management: are Malaysian companies ready? Abdul Razak, Shazrul Ekhmar Mustapha, Mazlina Mohammed Shah, Sabarina Abu Kasim, Nor Aziah The sustainability issues resulting from Malaysian palm oil production have garnered much interest in the palm oil industry. Consequently, Malaysian palm oil industry is indirectly exposed to sustainability risks, including boycott and reputational and regulatory risks. Hence, the industry encounters intense pressure from numerous stakeholders to address sustainability issues. Prior studies propounded that sustainability risk management (SRM) could minimise the adverse impact of sustainability risks by addressing sustainability issues. Nevertheless, the implementation of sustainability risk management in Malaysia remains low as numerous companies are not ready for it. Drawing on contingency theory, the objective of this study is to investigate the influence of contextual factors that can influence companies' readiness in implementing sustainability risk management. Data was collected through the distribution of questionnaires between July and December 2020. A total of 407 questionnaires were distributed, with a response rate of 29 . Resultantly, sustainability strategy, business size, top management support, and regulatory pressure positively and significantly influenced sustainability risk management implementation. The findings also expanded the current theoretical knowledge with valuable insights for policymakers regarding the factors influencing to companies’ readiness in implementing SRM. Elsevier 2024 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/106081/1/1-s2.0-S2405844024007126-main4.pdf Abdul Razak, Shazrul Ekhmar and Mustapha, Mazlina and Mohammed Shah, Sabarina and Abu Kasim, Nor Aziah (2024) Sustainability risk management: are Malaysian companies ready? Heliyon, 10 (3). art. no. 24681. pp. 1-14. ISSN 2405-8440 https://www.sciencedirect.com/science/article/pii/S2405844024007126 10.1016/j.heliyon.2024.e24681
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description The sustainability issues resulting from Malaysian palm oil production have garnered much interest in the palm oil industry. Consequently, Malaysian palm oil industry is indirectly exposed to sustainability risks, including boycott and reputational and regulatory risks. Hence, the industry encounters intense pressure from numerous stakeholders to address sustainability issues. Prior studies propounded that sustainability risk management (SRM) could minimise the adverse impact of sustainability risks by addressing sustainability issues. Nevertheless, the implementation of sustainability risk management in Malaysia remains low as numerous companies are not ready for it. Drawing on contingency theory, the objective of this study is to investigate the influence of contextual factors that can influence companies' readiness in implementing sustainability risk management. Data was collected through the distribution of questionnaires between July and December 2020. A total of 407 questionnaires were distributed, with a response rate of 29 . Resultantly, sustainability strategy, business size, top management support, and regulatory pressure positively and significantly influenced sustainability risk management implementation. The findings also expanded the current theoretical knowledge with valuable insights for policymakers regarding the factors influencing to companies’ readiness in implementing SRM.
format Article
author Abdul Razak, Shazrul Ekhmar
Mustapha, Mazlina
Mohammed Shah, Sabarina
Abu Kasim, Nor Aziah
spellingShingle Abdul Razak, Shazrul Ekhmar
Mustapha, Mazlina
Mohammed Shah, Sabarina
Abu Kasim, Nor Aziah
Sustainability risk management: are Malaysian companies ready?
author_facet Abdul Razak, Shazrul Ekhmar
Mustapha, Mazlina
Mohammed Shah, Sabarina
Abu Kasim, Nor Aziah
author_sort Abdul Razak, Shazrul Ekhmar
title Sustainability risk management: are Malaysian companies ready?
title_short Sustainability risk management: are Malaysian companies ready?
title_full Sustainability risk management: are Malaysian companies ready?
title_fullStr Sustainability risk management: are Malaysian companies ready?
title_full_unstemmed Sustainability risk management: are Malaysian companies ready?
title_sort sustainability risk management: are malaysian companies ready?
publisher Elsevier
publishDate 2024
url http://psasir.upm.edu.my/id/eprint/106081/1/1-s2.0-S2405844024007126-main4.pdf
http://psasir.upm.edu.my/id/eprint/106081/
https://www.sciencedirect.com/science/article/pii/S2405844024007126
_version_ 1805889528365318144
score 13.211869

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