Governing Body Corporate Governance Framework: Preliminary evidence-based in Malaysia corporate integrity value creation

Authors

  • Hasrul Hashom Pusat Bahasa & Pengajian Umum, Universiti Islam Antarabangsa Tuanku Syed Sirajuddin, Perlis, Malaysia
  • Hatta Hashom Hattahash Consultancy, Wisma Rampai, Setapak, Kuala Lumpur, Malaysia
  • Mohd Hakim Hashom Royal Malaysian Police (RMP), Bukit Aman, Kuala Lumpur, Malaysia

Keywords:

Corporate governance, value creation, governing body, corporate integrity

Abstract

Government-Linked Companies (GLCs) are companies with commercial objectives in which the government has a direct controlling stake, especially in major decision-making. However, the lack of commitment to maintaining the integrity standard as a governing body's core value has led to the GLCs underperforming in terms of consequences. In previous studies, the qualitative method was used to provide the article with a conceptual framework for corporate governance by governing bodies. The framework was infused with a commitment to Sustainable Development Goals (SDG) 16, which promotes the rule of law and good governance as a fundamental element.

References

Alkaraan F., Elmarzouky M., Hussainey K., Venkatesh V.G.(2023). Sustainable strategic investment decision-making practices in UK companies: The influence of governance mechanisms on synergy between industry 4.0 and circular economy. Technological Forecasting and Social Change, 187, art. no. 122187, DOI: 10.1016/j.techfore.2022.122187

Alijoyo A., Sirait K.B.(2022). The existence and role of independent board members and their impact on the board’s effectiveness and firm’s value: The case of the emerging market Corporate Governance and Organisational Behaviour Review, 6 (2 Special Issue), pp. 206–216, DOI: 10.22495/cgobrv6i2sip4

Chong, L. L., Ong, H. B., & Tan, S. H. (2018). Corporate risk-taking and performance in Malaysia: the effect of board composition, political connections and sustainability practices. Corporate Governance: The International Journal of Business in Society, 18(4), 635-654.

Donaldson T.(2023). Value creation and CSR. Journal of Business Economics, 93 (6-7), pp. 1255 - 1275. DOI: 10.1007/s11573-022-01131-7

Gartenberg C.(2023). The Contingent Relationship Between Purpose and Profits Strategy Science, 8 (2), pp. 256–269, DOI: 10.1287/stsc.2023.0194

Hamad S., Lai F.-W., Shad M.K., Konečná Z., Goni F.A., Chofreh A.G., Klemeš J.J. (2022). Corporate governance code and voluntary disclosure of integrated reporting: Evidence from an emerging economy. Sustainable Development, 30 (6), pp. 1497 - 1510, DOI: 10.1002/sd.2323

Hudson K., Morgan R.E.(2023). Board political ideological diversity and information exposure as antecedents to value creation and value appropriation. Journal of Product Innovation Management, DOI: 10.1111/jpim.12688

Ooi C.-A., Hooy C.-W., Nagata K.(2021). Corporate Social Responsibility, Firm Value and Corporate Governance Code Revisions: The Asian Evidence. Asian Economic Journal, 35 (1), pp. 27 - 56, DOI: 10.1111/asej.12227

Khazanah Nasional Berhad (2013). Is the sovereign wealth fund of the Government of Malaysia, with the purpose of investing to deliver sustainable value for Malaysians. At https://www.khazanah.com.my/news_press_releases/khazanah-releases-the-khazanah-report-2013/

Lorne, F. T., & Dilling, P. (2012). Creating values for sustainability: stakeholder engagement, incentive alignment, and value currency. Economics Research International, 2012.

Marzuki, M. M., & Wahid, K. A. (2022). The Effect of Government Transformation Programme on Government Investment: Evidence from Malaysia. Asian Journal of Empirical Research, 12(1), 1–10.

Menon, J. (2017). Government-linked companies: Impact on the Malaysian economy. Policy Ideas, 45, 1–26.

Menon, J., & Ng, T. H. (2013). Are government-linked corporations crowding out private investment in Malaysia?. Asian Development Bank Economics Working Paper Series, (345).

Mohammad W.M.W., Wasiuzzaman S.(2021). Environmental, Social and Governance (ESG) disclosure, competitive advantage and performance of firms in Malaysia.

Cleaner Environmental Systems, 2, art. no. 100015. DOI: 10.1016/j.cesys.2021.100015

Moher A.D, Liberati A., Tetzlaff J (2009). “PRISMA 2009 Flow Diagram,” The PRISMA statement, vol. 6, p. 1000097

Rojo-Suárez J., Alonso-Conde A.B.(2023). Short-run and long-run effects of ESG policies on value creation and the cost of equity of firms. Economic Analysis and Policy, 77, pp. 599–616, DOI: 10.1016/j.eap.2022.12.017

Schellhorn C.(2023). Corporate collaborations, decarbonisation and equity value creation. Corporate Governance (Bingley), 23 (5), pp. 1105–1116. DOI: 10.1108/CG- 06-2022-0241

Zin, R. H. M. (2014). Malaysian development experience: lessons for developing countries. Institutions and Economies, 17–56.

Published

2026-01-28

How to Cite

Hashom, H., Hashom, H., & Hashom, M. H. (2026). Governing Body Corporate Governance Framework: Preliminary evidence-based in Malaysia corporate integrity value creation. Environment-Behaviour Proceedings Journal, 10(SI41). Retrieved from https://ebpj.e-iph.co.uk/index.php/EBProceedings/article/view/7730