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...

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Main Author:	Almtoor, Yasir Abdullah Abbas
Format:	Thesis
Language:	eng eng
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
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id	my-uum-etd.9597
record_format	uketd_dc
spelling	my-uum-etd.95972024-03-19T01:48:31Z Corporate social responsibility disclosure and long run share price performance of Malaysian IPOs 2021 Almtoor, Yasir Abdullah Abbas Ahmad Zaluki, Nurwati Ashikkin Abd Rahim, Nazahah Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business 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 https://etd.uum.edu.my/9597/ https://etd.uum.edu.my/9597/1/s902431_01.pdf text eng public https://etd.uum.edu.my/9597/2/s902431_02.pdf text eng public other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Ahmad Zaluki, Nurwati Ashikkin Abd Rahim, Nazahah
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
qualification_name	other
qualification_level	Doctorate
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
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2021
url	https://etd.uum.edu.my/9597/1/s902431_01.pdf https://etd.uum.edu.my/9597/2/s902431_02.pdf
_version_	1794023764014399488

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

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