Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements
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| date | 2015-10-07 08:57:04 |
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| institution | UniSZA |
| internalnotes | Ahmad, Z., H. Salleh, and M. Junaini. “Determinants ofEnvironmental Reporting in Malaysia.” International Journal ofBusiness Studies 11, no. 1 (2003): 69-90. Al-Tuwaijri, S., T. Christensen, and K. Hughes. “The RelationsAmong Environmental Disclosure, Environmental Performance:A Simultaneous Equation Approach.”Accounting, Organizationsand Society 29 (2004):447-71. Andrew, B.H., F.A. Gul, J.E. Guthrie, and H.Y. Teoh.“A Note onCorporate Social Disclosure Practices in Developing Countries:The Case of Malaysia and Singapore.”British Accounting Review21 (1989): 371-6. Anuar, H.A., M. Sulaiman, and N.N. Nik Ahmad.“Some Evidence ofEnvironmental Reporting by Shari’ah Compliant Companies.”International Journal of Economics and Management 17, no. 2(2009): 177-208. Association of Chartered Accountant (ACCA) MESRA Awards.“ASpeech by CEO Bursa Malaysia Berhad.”(2007).http://www.bursamalaysia.com. April 2009.Azlan, A., and S. Devi. “Corporate Social Reporting in Malaysia: APolitical Theory Perspective.” Malaysian Accounting Review 6,no. 1 (2007): 19-44. Azlan, A., and S. Devi. “The Impact of Government and ForeignAffiliate Influence on Corporate Social Reporting.”ManagerialAuditing Journal 23, no. 4 (2008): 386-404. Azzone, G., R. Manzini, and G. Noci. “Evolutionary Trends inEnvironmental Reporting.”Business Strategy and theEnvironment 5, no. 4 (1996): 219-30. Bakhtiar, A. “Comparing Environmental Reporting Practice ofPublic Listed companies in Malaysia in 1999 and 2003: AnInvestigation of Quantity and Quality.” Master dissertation,International Islamic University Malaysia, 2005. Barney, J.B. “Firm Resources and Sustained CompetitiveAdvantage.”Journal of Management17, no. 1 (1991): 99-120. Barney, J., M. Wright, and D.J. Ketchen Jr. “The Resource-BasedView of the Firms: Ten Years after 1991.”Journal ofManagement 27 (2001): 625-41. Buhr, N. “Environmental Performance, Legislation and AnnualReports Disclosure: The Case of Acid Rain and Falconbridge.”Accounting, Auditing and Accountability Journal 11, no. 2(1998): 163-90. Buhr, N., and M. Freedman. “Culture, Institutional Factors andDifferences in Environmental Disclosures between Canada andUnited States.”Critical Perspectives on Accounting 12 (2001):293-322. Chatterjee, B., and M.Z. Mir. “The Current Status of EnvironmentalReporting by Indian Companies.”Managerial Auditing Journal23, no. 6 (2008): 609-29. Cho, C. H., and D.M. Patten. “The Role of EnvironmentalDisclosureas Tools of Legitimacy: A Research Note.”Accounting,Organizations and Society32 (2007): 639-47. Clarkson, P.M., J.L. Kao, and G. D. Richardson. “The VoluntaryInclusion of Forecasts in the MD and A Section of AnnualReports.” Contemporary Accounting Research 11, no. 1 (1994):423-50. Collis, D. and C.A. Montgomery. "Competing on Resources:Strategy in the 1990s," Harvard Business Review 73, July-August (1995): 118-28. Cormier, D., and I.M. Gordon. “An Examination of Social andEnvironmental Reporting Strategies.”Accounting, Auditing andAccountability Journal14, no. 5 (2001): 587-616. Cormier, D., and M. Magnan. “Corporate Environmental DisclosureStrategies: Determinants, Costs and Benefits.”Journal ofAccounting, Auditing and Finance 14, no. 4 (1999):429-51. Cormier, D., and M. Magnan, “Environmental ReportingManagement: A Continental European Perspective.”Journal ofAccounting and Public Policy 22 (2003): 43-62. Cormier, D., Magnan, M., and B.V. Velthoven, “CorporateEnvironmental Disclosure Qualities in Large GermanCompanies: Economic Incentives, Public Pressures orInstitutional Conditions?”European Accounting Review 14, no.1 (2005): 3-39. Eng, L.L., and Y.T. Mak. “Corporate Governance and VoluntaryDisclosure.”Journal of Accounting and Public Policy 22 (2003):325-45. Fekrat, M.A., C. Inclan, and D. Petroni. “Corporate EnvironmentalDisclosure: Competitive Disclosure Hypothesis using 1991Annual Report data.”The International Journal of Accounting31, no. 2 (1996): 175-95. Gray, R., R. Kouhy, and S. Lavers. “A Review of the Literature anda Longitudinal Study of UK Disclosure. ”Accounting, Auditingand Accountability Journal 8, no. 2 (1995): 47-77. Hackston, D., and M. Milne. “Some Determinants of Social andEnvironmental Disclosures in New Zealand Companies.”Accounting, Auditing and Accountability Journal 9, no. 1 (1996):77–108. Huafang, X., and Y. Jianguo. “Ownership Structure, BoardComposition and Corporate Voluntary Disclosure: Evidencefrom Listed Companies in China.”Managerial Auditing Journal22, no. 6 (2007): 614-19. Iatridis, G.E. “Environmental Disclosure Quality: Evidence onPerformance, Corporate Governance and Value Relevance.”Emerging Market Review14 (2013): 55-75. Kolbe, R.H., and M.S. Burnett. "Content-Analysis Research: AnExamination of Applications with Directives for ImprovingResearch Reliability and Objectivity." Journal of ConsumerResearch 18, September (1991): 243-50. Kuasirikun, N., and M. Sherer, “Corporate Social AccountingDisclosure in Thailand.” Accounting, Auditing andAccountability Journal17, no. 4 (2004): 629-60. Lindblom, C.K. "The Implications of Organizational Legitimacy forCorporate Social Performance and Disclosure." Paper presentedat the Critical Perspectives on Accounting Conference, NewYork, 1994. Lu, Y., and I. Abeysekara. “Stakeholders’ Power, CorporateCharacteristics, and Social and Environmental Disclosures:Evidence from China”. Journal of Cleaner Production 64(2014): 426-36. Magness, V. “Strategic Posture, Financial Performance andEnvironmental Disclosure: An Empirical test of LegitimacyTheory.”Accounting, Auditing and Accountability Journal 19,no.4(2006): 510-63. Milne, M.J., and D.M. Patten. “Securing Organizational Legitimacy:An Experimental Decision Case Examining the Impact ofEnvironmental Disclosures.”Accounting, Auditing andAccountability Journal15, no. 3 (2002): 372-405. Milne, M.J., and R.W. Adler. "Exploring the Reliability of Socialand Environmental Disclosures Content Analysis." Accounting,Auditing & Accountability Journal 12,no. 2 (1999): 237-56. Mohd. Ghazali, N.A. “Ownership Structure and CSR Disclosure:Some Malaysian Evidence.” Corporate Governance 7, no. 3(2007): 251-66. Muttakin, M.B., and A. Khan. “Determinants of Corporate SocialDisclosure: Empirical Evidence from Bangladesh.” Advance in Accounting, Incorporating Advance in International Accounting(2014): In press. Nik Ahmad, N.N., and M. Sulaiman. “Environmental Disclosures inMalaysian Annual Reports: Legitimacy Theory Perspective.”International Journal of Commerce and Management 14, no.1(2004): 44-58. Nik Ahmad, N.N., M. Sulaiman, and D. Siswantoro. “CorporateSocial Responsibility Disclosure in Malaysia: An Analysis ofAnnual Reports of KLSE Listed Companies.”IIUM Journal ofEconomics and Management11, no.1 (2003): 51-86. Pallant, J. SPSS Survival Manual. A Step by Step Guide to DataAnalysis using SPSS for Windows (Version 10). Open UniversityPress, 2001. Patten, D.M., and J.R. Nance. “Regulatory Cost Effects in a GoodNews Environment: The Intra-industry Reaction to the AlaskanOil Spill.”Journal of Accounting and Public Policy 17 (1998):409-29. Peters, G.F., and A.M. Romi. “Discretionary Compliance withMandatory Environment Disclosures: Evidence from SECFilings.” J. Account. Public Policy 32 (2013): 213-36. Qu, R. “Corporate Social Responsibility in China: Impact ofRegulations, Market Structure and Ownership Structure.”Chinese Management Series 1, no. 3 (2007): 198-207. Raar, J. “Reported Social and Environmental Taxonomies: ALonger-term Glimpse.”Managerial Auditing Journal 22, no. 8(2007): 840-60. Ramasamy, B., and W.T. Hung. “A Comparative Analysis of CSRAwareness: Malaysian and Singapore Firms.”Journal ofCorporate Citizenship13 (2004): 109-23. Ross, S.A., R.W. Westerfield, and J. Jaffe, Corporate Finance,International Edition (Fourth Edition).Irwin McGraw-Hill,1996. Russo, M.V., and P.A. Fouts. “A Resource Based View Perspectiveon Corporate Environmental Performance and Profitability.”Academy of Management Journal 40, no.3 (1997): 534-559. Smith M., K. Yahya, and A.M. Amiruddin. “EnvironmentalDisclosure and Performance Reporting in Malaysia.”AsianReview of Accounting15, no. 2 (2007):185-99. Teoh, H.Y., and G. Thong. “Another Look at CSR and Reporting:An Empirical Study in Developing Country.”Accounting,Organization and Society9, no. 2 (1984): 189-206. Ten, E.E. “Can Stakeholder Theory Add to Our Understanding ofMalaysian Environmental Reporting Attitudes?”MalaysianAccounting Review8, no. 2 (2009): 85-110. Thomson, P., and Z. Zakaria. “Corporate Social ResponsibilityReporting in Malaysia: Progress and Prospect.”The Journal ofCorporate Citizenship,Spring 13 (2004):125-36. Ting, H.W., B. Ramasamy, and L.C. Ging, “Management Systemsand the CSR Engagement.”Social Responsibility Journal 6, no.3 (2010): 362-73. Tsang, E.W.K. “A Longitudinal Study of Corporate Social Reportingin Singapore. The Case of the Banking, Food and Beverages andHotel Industries.” Accounting, Auditing and AccountabilityJournal 11, no. 5 (1998): 624-35. Uwalomwa, U.O., and O.M. Uadiale. “Corporate Social andEnvironmental Disclosure in Nigeria: A Comparative Study ofBuilding Material and Brewery Industry.” International Journalof Business and Management6, no. 2 (2011): 258-64. Villiers de, C. and C.J. Van Staden. “Can Less EnvironmentalDisclosure have a Legitimizing Effect? Evidence from Africa.”Accounting, Organization and Society 31(2006): 763-81. Weber, R.P. Basic Content Analysis, Sage University Paper Serieson Quantitative Applications in the Social Sciences, Series No07-049. Beverley Hills and London: Sage Publications Inc.,1998. Wilmshurst, T.D., and G.R. Frost. “Corporate EnvironmentalReporting. A Test on Legitimacy Theory.”Accounting, Auditingand Accountability Journal13, no. 1(2000): 10-26. Wiseman, J. “An Evaluation of Environmental Disclosures Made inCorporate Annual Reports.”Accounting, Organization andSociety 7, no. 1 (1982):53-63. |
| originalfilename | 6687-01-FH02-FESP-15-03877.jpg |
| person | UniSZA Unisza unisza |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=12387 |
| spelling | 12387 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=12387 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Article Journal UniSZA Unisza unisza image/jpeg inches 96 96 1422 54 54 799 2015-10-07 08:57:04 1422x799 6687-01-FH02-FESP-15-03877.jpg UniSZA Private Access Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements Social Responsibility Journal Purpose - – The purpose of this study is to investigate the environmental disclosure (ED) quality of public-listed companies (PLCs) in environmentally sensitive industries (ESI) in Malaysia in 2005 and 2009 (two years before and two years after the mandatory corporate social responsibility (CSR) requirement of Bursa Malaysia (BM)). BM (The Stock Exchange of Malaysia) has made CSR, including ED in annual reports mandatory since 2007. This study compares environmental reporting (ER) before and after the 2007 mandatory reporting requirement to determine if this command and control mechanism has had any effect on the quality of ED. Design/methodology/approach - – The quality of ED was measured using a disclosure quality index adapted from various prior studies. The index consists of a total of 46 disclosure items grouped into 9 categories. Content analysis was utilized to extract data from the annual reports of 164 PLCs in ESI. Findings - – Overall, the quality of ED improved in 2009 from that of 2005. More importantly, companies disclosed more quantitative environmental information in 2009 than in 2005. However, the average quality of ED was still low in 2009 compared to the overall potential score. Results provide some support for legitimacy as well as institutional theories. Research limitations/implications - – The sample of the study consisted of listed companies in ESI only; the results cannot be generalized to other companies in non-environmentally sensitive sectors. Practical implications - – Prior studies that used data before the mandatory CSR requirement by BM found ED in annual reports mainly declarative in nature, generally low on quality and with little quantifiable data. The results of the present study provide evidence of the positive impact of mandatory environmental reporting on ED quality. Originality/value - – The use of a multi-theoretical perspective may offer a more meaningful explanation of ER behavior in Malaysia. The results of the study would provide the impetus for regulatory agencies in developing countries to perhaps consider legislating ER. The findings provide some evidence to support the influence of legitimacy and institutional factors behind improved ED of Malaysian PLCs. This outcome exhibits a positive influence on the government efforts in promoting sustainability. Finally, the study contributes to present a more up-to-date account of environmental commitment undertaken by Malaysian corporations through their environmental reporting, after the CSR mandatory listing requirement took effect in 2007. 11 4 Emerald Group Publishing Ltd. Emerald Group Publishing Ltd. 904-922 Ahmad, Z., H. Salleh, and M. Junaini. “Determinants ofEnvironmental Reporting in Malaysia.” International Journal ofBusiness Studies 11, no. 1 (2003): 69-90. Al-Tuwaijri, S., T. Christensen, and K. Hughes. “The RelationsAmong Environmental Disclosure, Environmental Performance:A Simultaneous Equation Approach.”Accounting, Organizationsand Society 29 (2004):447-71. Andrew, B.H., F.A. Gul, J.E. Guthrie, and H.Y. Teoh.“A Note onCorporate Social Disclosure Practices in Developing Countries:The Case of Malaysia and Singapore.”British Accounting Review21 (1989): 371-6. Anuar, H.A., M. Sulaiman, and N.N. Nik Ahmad.“Some Evidence ofEnvironmental Reporting by Shari’ah Compliant Companies.”International Journal of Economics and Management 17, no. 2(2009): 177-208. Association of Chartered Accountant (ACCA) MESRA Awards.“ASpeech by CEO Bursa Malaysia Berhad.”(2007).http://www.bursamalaysia.com. April 2009.Azlan, A., and S. Devi. “Corporate Social Reporting in Malaysia: APolitical Theory Perspective.” Malaysian Accounting Review 6,no. 1 (2007): 19-44. Azlan, A., and S. Devi. “The Impact of Government and ForeignAffiliate Influence on Corporate Social Reporting.”ManagerialAuditing Journal 23, no. 4 (2008): 386-404. Azzone, G., R. Manzini, and G. Noci. “Evolutionary Trends inEnvironmental Reporting.”Business Strategy and theEnvironment 5, no. 4 (1996): 219-30. Bakhtiar, A. “Comparing Environmental Reporting Practice ofPublic Listed companies in Malaysia in 1999 and 2003: AnInvestigation of Quantity and Quality.” Master dissertation,International Islamic University Malaysia, 2005. Barney, J.B. “Firm Resources and Sustained CompetitiveAdvantage.”Journal of Management17, no. 1 (1991): 99-120. Barney, J., M. Wright, and D.J. Ketchen Jr. “The Resource-BasedView of the Firms: Ten Years after 1991.”Journal ofManagement 27 (2001): 625-41. Buhr, N. “Environmental Performance, Legislation and AnnualReports Disclosure: The Case of Acid Rain and Falconbridge.”Accounting, Auditing and Accountability Journal 11, no. 2(1998): 163-90. Buhr, N., and M. Freedman. “Culture, Institutional Factors andDifferences in Environmental Disclosures between Canada andUnited States.”Critical Perspectives on Accounting 12 (2001):293-322. Chatterjee, B., and M.Z. Mir. “The Current Status of EnvironmentalReporting by Indian Companies.”Managerial Auditing Journal23, no. 6 (2008): 609-29. Cho, C. H., and D.M. Patten. “The Role of EnvironmentalDisclosureas Tools of Legitimacy: A Research Note.”Accounting,Organizations and Society32 (2007): 639-47. Clarkson, P.M., J.L. Kao, and G. D. Richardson. “The VoluntaryInclusion of Forecasts in the MD and A Section of AnnualReports.” Contemporary Accounting Research 11, no. 1 (1994):423-50. Collis, D. and C.A. Montgomery. "Competing on Resources:Strategy in the 1990s," Harvard Business Review 73, July-August (1995): 118-28. Cormier, D., and I.M. Gordon. “An Examination of Social andEnvironmental Reporting Strategies.”Accounting, Auditing andAccountability Journal14, no. 5 (2001): 587-616. Cormier, D., and M. Magnan. “Corporate Environmental DisclosureStrategies: Determinants, Costs and Benefits.”Journal ofAccounting, Auditing and Finance 14, no. 4 (1999):429-51. Cormier, D., and M. Magnan, “Environmental ReportingManagement: A Continental European Perspective.”Journal ofAccounting and Public Policy 22 (2003): 43-62. Cormier, D., Magnan, M., and B.V. Velthoven, “CorporateEnvironmental Disclosure Qualities in Large GermanCompanies: Economic Incentives, Public Pressures orInstitutional Conditions?”European Accounting Review 14, no.1 (2005): 3-39. Eng, L.L., and Y.T. Mak. “Corporate Governance and VoluntaryDisclosure.”Journal of Accounting and Public Policy 22 (2003):325-45. Fekrat, M.A., C. Inclan, and D. Petroni. “Corporate EnvironmentalDisclosure: Competitive Disclosure Hypothesis using 1991Annual Report data.”The International Journal of Accounting31, no. 2 (1996): 175-95. Gray, R., R. Kouhy, and S. Lavers. “A Review of the Literature anda Longitudinal Study of UK Disclosure. ”Accounting, Auditingand Accountability Journal 8, no. 2 (1995): 47-77. Hackston, D., and M. Milne. “Some Determinants of Social andEnvironmental Disclosures in New Zealand Companies.”Accounting, Auditing and Accountability Journal 9, no. 1 (1996):77–108. Huafang, X., and Y. Jianguo. “Ownership Structure, BoardComposition and Corporate Voluntary Disclosure: Evidencefrom Listed Companies in China.”Managerial Auditing Journal22, no. 6 (2007): 614-19. Iatridis, G.E. “Environmental Disclosure Quality: Evidence onPerformance, Corporate Governance and Value Relevance.”Emerging Market Review14 (2013): 55-75. Kolbe, R.H., and M.S. Burnett. "Content-Analysis Research: AnExamination of Applications with Directives for ImprovingResearch Reliability and Objectivity." Journal of ConsumerResearch 18, September (1991): 243-50. Kuasirikun, N., and M. Sherer, “Corporate Social AccountingDisclosure in Thailand.” Accounting, Auditing andAccountability Journal17, no. 4 (2004): 629-60. Lindblom, C.K. "The Implications of Organizational Legitimacy forCorporate Social Performance and Disclosure." Paper presentedat the Critical Perspectives on Accounting Conference, NewYork, 1994. Lu, Y., and I. Abeysekara. “Stakeholders’ Power, CorporateCharacteristics, and Social and Environmental Disclosures:Evidence from China”. Journal of Cleaner Production 64(2014): 426-36. Magness, V. “Strategic Posture, Financial Performance andEnvironmental Disclosure: An Empirical test of LegitimacyTheory.”Accounting, Auditing and Accountability Journal 19,no.4(2006): 510-63. Milne, M.J., and D.M. Patten. “Securing Organizational Legitimacy:An Experimental Decision Case Examining the Impact ofEnvironmental Disclosures.”Accounting, Auditing andAccountability Journal15, no. 3 (2002): 372-405. Milne, M.J., and R.W. Adler. "Exploring the Reliability of Socialand Environmental Disclosures Content Analysis." Accounting,Auditing & Accountability Journal 12,no. 2 (1999): 237-56. Mohd. Ghazali, N.A. “Ownership Structure and CSR Disclosure:Some Malaysian Evidence.” Corporate Governance 7, no. 3(2007): 251-66. Muttakin, M.B., and A. Khan. “Determinants of Corporate SocialDisclosure: Empirical Evidence from Bangladesh.” Advance in Accounting, Incorporating Advance in International Accounting(2014): In press. Nik Ahmad, N.N., and M. Sulaiman. “Environmental Disclosures inMalaysian Annual Reports: Legitimacy Theory Perspective.”International Journal of Commerce and Management 14, no.1(2004): 44-58. Nik Ahmad, N.N., M. Sulaiman, and D. Siswantoro. “CorporateSocial Responsibility Disclosure in Malaysia: An Analysis ofAnnual Reports of KLSE Listed Companies.”IIUM Journal ofEconomics and Management11, no.1 (2003): 51-86. Pallant, J. SPSS Survival Manual. A Step by Step Guide to DataAnalysis using SPSS for Windows (Version 10). Open UniversityPress, 2001. Patten, D.M., and J.R. Nance. “Regulatory Cost Effects in a GoodNews Environment: The Intra-industry Reaction to the AlaskanOil Spill.”Journal of Accounting and Public Policy 17 (1998):409-29. Peters, G.F., and A.M. Romi. “Discretionary Compliance withMandatory Environment Disclosures: Evidence from SECFilings.” J. Account. Public Policy 32 (2013): 213-36. Qu, R. “Corporate Social Responsibility in China: Impact ofRegulations, Market Structure and Ownership Structure.”Chinese Management Series 1, no. 3 (2007): 198-207. Raar, J. “Reported Social and Environmental Taxonomies: ALonger-term Glimpse.”Managerial Auditing Journal 22, no. 8(2007): 840-60. Ramasamy, B., and W.T. Hung. “A Comparative Analysis of CSRAwareness: Malaysian and Singapore Firms.”Journal ofCorporate Citizenship13 (2004): 109-23. Ross, S.A., R.W. Westerfield, and J. Jaffe, Corporate Finance,International Edition (Fourth Edition).Irwin McGraw-Hill,1996. Russo, M.V., and P.A. Fouts. “A Resource Based View Perspectiveon Corporate Environmental Performance and Profitability.”Academy of Management Journal 40, no.3 (1997): 534-559. Smith M., K. Yahya, and A.M. Amiruddin. “EnvironmentalDisclosure and Performance Reporting in Malaysia.”AsianReview of Accounting15, no. 2 (2007):185-99. Teoh, H.Y., and G. Thong. “Another Look at CSR and Reporting:An Empirical Study in Developing Country.”Accounting,Organization and Society9, no. 2 (1984): 189-206. Ten, E.E. “Can Stakeholder Theory Add to Our Understanding ofMalaysian Environmental Reporting Attitudes?”MalaysianAccounting Review8, no. 2 (2009): 85-110. Thomson, P., and Z. Zakaria. “Corporate Social ResponsibilityReporting in Malaysia: Progress and Prospect.”The Journal ofCorporate Citizenship,Spring 13 (2004):125-36. Ting, H.W., B. Ramasamy, and L.C. Ging, “Management Systemsand the CSR Engagement.”Social Responsibility Journal 6, no.3 (2010): 362-73. Tsang, E.W.K. “A Longitudinal Study of Corporate Social Reportingin Singapore. The Case of the Banking, Food and Beverages andHotel Industries.” Accounting, Auditing and AccountabilityJournal 11, no. 5 (1998): 624-35. Uwalomwa, U.O., and O.M. Uadiale. “Corporate Social andEnvironmental Disclosure in Nigeria: A Comparative Study ofBuilding Material and Brewery Industry.” International Journalof Business and Management6, no. 2 (2011): 258-64. Villiers de, C. and C.J. Van Staden. “Can Less EnvironmentalDisclosure have a Legitimizing Effect? Evidence from Africa.”Accounting, Organization and Society 31(2006): 763-81. Weber, R.P. Basic Content Analysis, Sage University Paper Serieson Quantitative Applications in the Social Sciences, Series No07-049. Beverley Hills and London: Sage Publications Inc.,1998. Wilmshurst, T.D., and G.R. Frost. “Corporate EnvironmentalReporting. A Test on Legitimacy Theory.”Accounting, Auditingand Accountability Journal13, no. 1(2000): 10-26. Wiseman, J. “An Evaluation of Environmental Disclosures Made inCorporate Annual Reports.”Accounting, Organization andSociety 7, no. 1 (1982):53-63. |
| spellingShingle | Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements |
| summary | Purpose - – The purpose of this study is to investigate the environmental disclosure (ED) quality of public-listed companies (PLCs) in environmentally sensitive industries (ESI) in Malaysia in 2005 and 2009 (two years before and two years after the mandatory corporate social responsibility (CSR) requirement of Bursa Malaysia (BM)). BM (The Stock Exchange of Malaysia) has made CSR, including ED in annual reports mandatory since 2007. This study compares environmental reporting (ER) before and after the 2007 mandatory reporting requirement to determine if this command and control mechanism has had any effect on the quality of ED. Design/methodology/approach - – The quality of ED was measured using a disclosure quality index adapted from various prior studies. The index consists of a total of 46 disclosure items grouped into 9 categories. Content analysis was utilized to extract data from the annual reports of 164 PLCs in ESI. Findings - – Overall, the quality of ED improved in 2009 from that of 2005. More importantly, companies disclosed more quantitative environmental information in 2009 than in 2005. However, the average quality of ED was still low in 2009 compared to the overall potential score. Results provide some support for legitimacy as well as institutional theories. Research limitations/implications - – The sample of the study consisted of listed companies in ESI only; the results cannot be generalized to other companies in non-environmentally sensitive sectors. Practical implications - – Prior studies that used data before the mandatory CSR requirement by BM found ED in annual reports mainly declarative in nature, generally low on quality and with little quantifiable data. The results of the present study provide evidence of the positive impact of mandatory environmental reporting on ED quality. Originality/value - – The use of a multi-theoretical perspective may offer a more meaningful explanation of ER behavior in Malaysia. The results of the study would provide the impetus for regulatory agencies in developing countries to perhaps consider legislating ER. The findings provide some evidence to support the influence of legitimacy and institutional factors behind improved ED of Malaysian PLCs. This outcome exhibits a positive influence on the government efforts in promoting sustainability. Finally, the study contributes to present a more up-to-date account of environmental commitment undertaken by Malaysian corporations through their environmental reporting, after the CSR mandatory listing requirement took effect in 2007. |
| title | Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements |
| title_full | Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements |
| title_fullStr | Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements |
| title_full_unstemmed | Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements |
| title_short | Environmental disclosure quality: Examining the impact of the stock exchange of Malaysia's listing requirements |
| title_sort | environmental disclosure quality: examining the impact of the stock exchange of malaysia's listing requirements |