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...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2024
|
| Online Access: | http://psasir.upm.edu.my/id/eprint/106081/ http://psasir.upm.edu.my/id/eprint/106081/1/1-s2.0-S2405844024007126-main4.pdf |
| _version_ | 1848864684541739008 |
|---|---|
| author | Abdul Razak, Shazrul Ekhmar Mustapha, Mazlina Mohammed Shah, Sabarina Abu Kasim, Nor Aziah |
| author_facet | Abdul Razak, Shazrul Ekhmar Mustapha, Mazlina Mohammed Shah, Sabarina Abu Kasim, Nor Aziah |
| author_sort | Abdul Razak, Shazrul Ekhmar |
| building | UPM Institutional Repository |
| collection | Online Access |
| 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. |
| first_indexed | 2025-11-15T13:52:44Z |
| format | Article |
| id | upm-106081 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T13:52:44Z |
| publishDate | 2024 |
| publisher | Elsevier |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-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 |
| spellingShingle | Abdul Razak, Shazrul Ekhmar Mustapha, Mazlina Mohammed Shah, Sabarina Abu Kasim, Nor Aziah Sustainability risk management: are Malaysian companies ready? |
| title | 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_short | Sustainability risk management: are Malaysian companies ready? |
| title_sort | sustainability risk management: are malaysian companies ready? |
| url | http://psasir.upm.edu.my/id/eprint/106081/ http://psasir.upm.edu.my/id/eprint/106081/ http://psasir.upm.edu.my/id/eprint/106081/ http://psasir.upm.edu.my/id/eprint/106081/1/1-s2.0-S2405844024007126-main4.pdf |