Cover Image

Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs

This study investigates the influence of the corporate social responsibility disclosure (CSRD) and its dimensions (community, environment, workplace, and marketplace) on the long-run share price performance of 115 Malaysian IPOs listed throughout 2007-2015. To measure the IPOs’ long-run share price...

Full description

Saved in:
Bibliographic Details
Main Author: Almtoor, Yasir Abdullah Abbas
Format: Thesis
Language:English
English
Published: 2021
Subjects:
HG Finance
Online Access:https://etd.uum.edu.my/9597/1/s902431_01.pdf
https://etd.uum.edu.my/9597/2/s902431_02.pdf
https://etd.uum.edu.my/9597/
Tags: Add Tag
No Tags, Be the first to tag this record!
id my.uum.etd.9597
record_format eprints
spelling my.uum.etd.95972024-03-19T01:48:31Z https://etd.uum.edu.my/9597/ Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs Almtoor, Yasir Abdullah Abbas HG Finance This study investigates the influence of the corporate social responsibility disclosure (CSRD) and its dimensions (community, environment, workplace, and marketplace) on the long-run share price performance of 115 Malaysian IPOs listed throughout 2007-2015. To measure the IPOs’ long-run share price performance, the return measures were calculated under the equally-weighted and value-weighted schemes of the cumulative mean abnormal return (CAR) and buy-and-hold abnormal returns (BHAR) for the three post-listing years using an event-time approach. The results of this study indicate a significant overperformance and underperformance among the Malaysian IPOs when the matched companies and market are used as the benchmarks for both the IPO performance measures. The models were developed utilising the frameworks of the agency theory, the signalling theory, and the legitimacy theory to test the relationship between CSRD and its dimensions with the IPOs’ long-run share price performance. The findings of the multiple regressions showed a positive and significant association between CSRD extent and its community and environment dimensions with the IPOs’ long-run share price performance. Meanwhile, CSRD extent in the dimensions of workplace and marketplace showed a negative and significant relationship with the IPOs’ long-run share price performance. The findings of the multiple regressions showed a negative and significant association between CSRD quality and its dimensions i.e. workplace and marketplace with long-run share price performance. Meanwhile, CSRD quality in the dimensions of community and environment showed a positive and significant relationship with the long-run share price performance. The results of this study are important for investors, regulators, non-government organisations, communities, and policymakers. The findings can also enhance the understanding of companies on the importance of disclosing more CSR information to improve their performance and profitability. 2021 Thesis NonPeerReviewed text en https://etd.uum.edu.my/9597/1/s902431_01.pdf text en https://etd.uum.edu.my/9597/2/s902431_02.pdf Almtoor, Yasir Abdullah Abbas (2021) Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs. Doctoral thesis, Universiti Utara Malaysia.
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Electronic Theses
url_provider http://etd.uum.edu.my/
language English
English
topic HG Finance
spellingShingle HG Finance
Almtoor, Yasir Abdullah Abbas
Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs
description This study investigates the influence of the corporate social responsibility disclosure (CSRD) and its dimensions (community, environment, workplace, and marketplace) on the long-run share price performance of 115 Malaysian IPOs listed throughout 2007-2015. To measure the IPOs’ long-run share price performance, the return measures were calculated under the equally-weighted and value-weighted schemes of the cumulative mean abnormal return (CAR) and buy-and-hold abnormal returns (BHAR) for the three post-listing years using an event-time approach. The results of this study indicate a significant overperformance and underperformance among the Malaysian IPOs when the matched companies and market are used as the benchmarks for both the IPO performance measures. The models were developed utilising the frameworks of the agency theory, the signalling theory, and the legitimacy theory to test the relationship between CSRD and its dimensions with the IPOs’ long-run share price performance. The findings of the multiple regressions showed a positive and significant association between CSRD extent and its community and environment dimensions with the IPOs’ long-run share price performance. Meanwhile, CSRD extent in the dimensions of workplace and marketplace showed a negative and significant relationship with the IPOs’ long-run share price performance. The findings of the multiple regressions showed a negative and significant association between CSRD quality and its dimensions i.e. workplace and marketplace with long-run share price performance. Meanwhile, CSRD quality in the dimensions of community and environment showed a positive and significant relationship with the long-run share price performance. The results of this study are important for investors, regulators, non-government organisations, communities, and policymakers. The findings can also enhance the understanding of companies on the importance of disclosing more CSR information to improve their performance and profitability.
format Thesis
author Almtoor, Yasir Abdullah Abbas
author_facet Almtoor, Yasir Abdullah Abbas
author_sort Almtoor, Yasir Abdullah Abbas
title Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs
title_short Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs
title_full Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs
title_fullStr Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs
title_full_unstemmed Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs
title_sort corporate social responsibility disclosure and long run share price performance of malaysian ipos
publishDate 2021
url https://etd.uum.edu.my/9597/1/s902431_01.pdf
https://etd.uum.edu.my/9597/2/s902431_02.pdf
https://etd.uum.edu.my/9597/
_version_ 1794639312416931840
score 13.211869

Similar Items