Ismail, Rusmawati and Abdullah, Nur Adiana Hiau and Taufil Mohd, Kamarun Nisham (2016) The impact of company-specific factors on accounting-based performance: evidence from the Malaysian listed companies. In: International Conference on Government & Public Affairs 2016 (ICOGPA2016), October 5th - 6th, 2016, School of Government, Universiti Utara Malaysia (UUM), Sintok, Kedah, Malaysia.

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Abstract

The main objective of this paper is to examine the influence of both lagged and contemporaneous risk-taking as well as other company-specific factors on performance of non-financial Malaysian listed companies.This study will cover an observation period of 12 years (2004 to 2015) on unbalanced panel data basis.In order to deal with the dynamic nature of downside risk-return relationship, the dynamic panel estimation will be carried out using two-step system generalized method of moments (S-GMM) estimator.The application of S-GMM which is claimed as robust in the class of all GMM estimators, could offer a better explanation on the issue discussed.For the management of a company, this research outcome may strategically provide guidance on planning and managing their investment activities to increase shareholders’ wealth. A better assessment of risk would eventually contribute to wealth creation. In terms of investors, the results could enhance their awareness and understanding of the collective investment behaviour of companies. Hence, it could assist them to select the appropriate investment according to their risk preferences. With regard to the Securities Commission (SC), the outcomes could furnish this regulatory body with more accurate risk-return assessment model. In line with SC’s statutory function, this security market supervisory body is obligated to encourage the application of reliable risk measure amongst stakeholders.By facilitating market participants with informative investment guidance, greater development of securities market in Malaysia would be promoted.

Item Type:	Conference or Workshop Item (Paper)
Additional Information:	ISBN 978-983-44661-7-6 Organized by: School of Government, Universiti Utara Malaysia (UUM), Sintok, Kedah, Malaysia.
Uncontrolled Keywords:	downside risk, risk-return, dynamic panel estimation, system-GMM
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting
Divisions:	School of Economics, Finance & Banking
Depositing User:	Mdm. Rusmawati Ismail
Date Deposited:	21 Dec 2016 01:41
Last Modified:	21 Dec 2016 01:41
URI:	https://repo.uum.edu.my/id/eprint/20400

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