This study investigates the impact of corporate governance on social and environmental information disclosure of Malaysian listed banks by using a panel data analysis. The proxies for good corporate governance are board leadership structure, board composition, board size, director ownership, institutional ownership and block ownership. Social and environmental information disclosure index is developed and content analysis is conducted by cross checking between the social and environmental information disclosed in the annual reports and the disclosure index developed by the researcher. The disclosure score used in this study is weighted disclosure score after considering the opinions of accountants and financial analysts who represent preparers and users of the accounting information respectively. The findings show that smaller board size, higher percentage of independent directors (1%) on the board, higher board size (1%), higher percentage of director ownership, lower institutional and lower block ownership (5%) have higher information disclosure.
Purpose This study aims to examine whether citizens of non-Muslim countries accept products with a “halal” logo. In the era of globalization, one of the most crucial issues for Muslim travelers is reliable halal foods when visiting non-Muslim countries. If people in non-Muslim countries accept imported products containing halal certification logos, and such products are readily available in shops, this issue could be substantially improved. Design/methodology/approach Malaysia and Japan were selected as Muslim and non-Muslim countries, respectively, to conduct a choice experiment (CE) for 656 non-Muslim subjects, and estimated willingness to pay (WTP) for mineral water with and without the halal logo. A random parameter logit model was used for estimation. Findings The difference between the WTP for mineral water with and without the halal logo was ¥5; however, the associated coefficient is not statistically significant. This implies that the halal logo has no impact on non-Muslim subjects’ purchasing behavior. From this, we can infer that the halal products with certification logo would be accepted in Japanese shops, which may foster foreign Muslim visits. Research limitations/implications As the results are based on a couple of countries (Malaysia and Japan) and only one product (mineral water), further investigation using other products in different countries would be necessary. However, as suggested in the main text, the results enjoy a degree of generalizability. Originality/value The results of this study support the possibility of circulating halal products in non-Muslim countries and thus promoting Muslim travel abroad. No such study has examined this issue using CE.
Purpose – This research aims to examine the viability of micro-health takaful in Malaysia. Current practices in the takaful industry in Malaysia reveal that takaful operators (TOs) are keen on offering products that are affordable for middle- to high-income people. However, the concept of takaful is based on mutual help, and, hence, it is believed that TOs should offer products affordable by the poor and lower income people. Design/methodology/approach – To achieve this objective, the interest of the poor to participate in this product is examined by sending the questionnaire. In addition, TOs were approached to understand why micro-health takaful products have not been offered as yet. The regulator was also interviewed to gauge whether the government is supportive of this scheme. Findings – From the survey, it was noted that the poor people are interested to participate in such a scheme. However, most of them are only willing to contribute about RM5 per month, while some of the respondents, especially, zakat recipients are unable to afford to pay at all. The zakat authority when interviewed stated they were unable to contribute on behalf of the zakat recipients. To a certain extent, zakat authority is required to obtain an approval from the National Fatwa Council with regard to that issue. The regulator views that the micro takaful is still in an experimental stage. From the perspective of TOs, it might be viable if the product is offered as part of the corporate social responsibility, rather than by individual operators. Therefore, it could be summed up that micro-health takaful will be viable if and only if TOs collectively offer it as a part of their corporate social responsibility, and it must be subsidized by the zakat or waqf authorities. Research limitations/implications – Particularly, this study only considers a limited geography in Malaysia to understand the viability of micro-health. On the same note, the current focus of the study is on micro-health takaful in which it has not tapped other potential micro takaful products. Originality/value – This study is a pioneering effort in understanding the viability of the micro health takaful in Malaysia.
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