Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia

Limited studies have examined the disclosure of Annual General Meeting (AGM) minutes on corporate websites. As such, little is known about the drivers of the disclosure of AGM minutes on corporate websites. This study investigated the drivers of the disclosure of AGM minutes on the corporate website...

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Main Author:	Mohd Shazwan, Mohd Ariffin
Format:	Thesis
Language:	eng eng eng
Published:	2022
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/10427/1/permission%20to%20deposit-not%20allow-902429.pdf https://etd.uum.edu.my/10427/2/s902429_01.pdf https://etd.uum.edu.my/10427/3/s902429_02.pdf
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id	my-uum-etd.10427
record_format	uketd_dc
spelling	my-uum-etd.104272023-03-29T01:27:17Z Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia 2022 Mohd Shazwan, Mohd Ariffin Wan Hussin, Wan Nordin Abdul Malak, Siti Seri Delima Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HG Finance Limited studies have examined the disclosure of Annual General Meeting (AGM) minutes on corporate websites. As such, little is known about the drivers of the disclosure of AGM minutes on corporate websites. This study investigated the drivers of the disclosure of AGM minutes on the corporate websites of Malaysian public-listed companies. The main drivers examined in this study were shareholder activism, Muslim Chief Executive Officers (CEOs) and family-controlled firms. This study incorporated firm size, proprietary cost, audit quality, board size and analyst coverage as the control variables. Regression analysis was conducted on the dataset of 261 Malaysian public-listed companies for the financial year ended 31 December 2016 (with AGM meetings held between 1 January 2017 and 30 June 2017). The findings showed that shareholder activism, Muslim CEOs and family-controlled firms were significant and positively associated with the online disclosure of AGM minutes. The robustness tests also supported the findings. This implies that shareholder activism helps in pushing for dissemination of vital corporate information online. Muslim CEOs appeared to transpose the Islamic values of transparency onto the corporate reporting. Contrary to expectation, family-controlled firms are more likely to disclose the AGM minutes to the general public. This suggests that family firms are motivated to quell the illusions of any expropriation from family ownership. The results support agency, stakeholders and signalling theories in explaining online corporate disclosure practices. This study contends that the disclosure of AGM minutes on the corporate websites is crucial for new and absentia investors to assess the sustainability of companies. The findings assist academicians, policy-makers, and managers in understanding the role and determinants of voluntary corporate disclosure. 2022 Thesis https://etd.uum.edu.my/10427/ https://etd.uum.edu.my/10427/1/permission%20to%20deposit-not%20allow-902429.pdf text eng staffonly https://etd.uum.edu.my/10427/2/s902429_01.pdf text eng staffonly https://etd.uum.edu.my/10427/3/s902429_02.pdf text eng staffonly other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng
advisor	Wan Hussin, Wan Nordin Abdul Malak, Siti Seri Delima
topic	HG Finance
spellingShingle	HG Finance Mohd Shazwan, Mohd Ariffin Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia
description	Limited studies have examined the disclosure of Annual General Meeting (AGM) minutes on corporate websites. As such, little is known about the drivers of the disclosure of AGM minutes on corporate websites. This study investigated the drivers of the disclosure of AGM minutes on the corporate websites of Malaysian public-listed companies. The main drivers examined in this study were shareholder activism, Muslim Chief Executive Officers (CEOs) and family-controlled firms. This study incorporated firm size, proprietary cost, audit quality, board size and analyst coverage as the control variables. Regression analysis was conducted on the dataset of 261 Malaysian public-listed companies for the financial year ended 31 December 2016 (with AGM meetings held between 1 January 2017 and 30 June 2017). The findings showed that shareholder activism, Muslim CEOs and family-controlled firms were significant and positively associated with the online disclosure of AGM minutes. The robustness tests also supported the findings. This implies that shareholder activism helps in pushing for dissemination of vital corporate information online. Muslim CEOs appeared to transpose the Islamic values of transparency onto the corporate reporting. Contrary to expectation, family-controlled firms are more likely to disclose the AGM minutes to the general public. This suggests that family firms are motivated to quell the illusions of any expropriation from family ownership. The results support agency, stakeholders and signalling theories in explaining online corporate disclosure practices. This study contends that the disclosure of AGM minutes on the corporate websites is crucial for new and absentia investors to assess the sustainability of companies. The findings assist academicians, policy-makers, and managers in understanding the role and determinants of voluntary corporate disclosure.
format	Thesis
qualification_name	other
qualification_level	Doctorate
author	Mohd Shazwan, Mohd Ariffin
author_facet	Mohd Shazwan, Mohd Ariffin
author_sort	Mohd Shazwan, Mohd Ariffin
title	Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia
title_short	Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia
title_full	Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia
title_fullStr	Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia
title_full_unstemmed	Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia
title_sort	shareholder activism, muslim ceo, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in malaysia
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2022
url	https://etd.uum.edu.my/10427/1/permission%20to%20deposit-not%20allow-902429.pdf https://etd.uum.edu.my/10427/2/s902429_01.pdf https://etd.uum.edu.my/10427/3/s902429_02.pdf
_version_	1776103814572539904

Shareholder activism, Muslim CEO, family-controlled firms and disclosure of annual general meeting minutes on the corporate websites in Malaysia

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