Citation

Yip, Yen Yen (2019) The Moderating Effect of ESG Disclosure Performance on the Nexus between Structured Warrants and Firm Value: The Malaysian Evidence. In: 10 th Global Conference on Business and Social Sciences, 6-7 Dec 2019, G Hotel Gurney, Penang, Malaysia.

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Abstract

This research empirically explores the impact of ESG (Environmental, Social and Governance) disclosure performance on structured warrants and firm value based on Malaysia environment. ESG disclosure drives transparency because good performing firms may want to signal their quality by disclosing more value-relevant information to outsiders. This factor may increase the information processing ability of superior investors who prefer to trade in structured warrants market due to higher leverage gain, lower transaction cost and limited downside risk offered by warrants. The firm-specific information will eventually be impounded into the spot market and thus making its underlying assets more valuable as a result of the lower adverse selection risk faced by spot the market investors. To-date, the impact of ESG disclosure on the association between structured warrants and firm value has never been explored. It is expected that firms with better ESG disclosure quality or performance may be a driving force to connect structured warrants and firm value. Hence, this study postulates that ESG disclosure performance playing a role in influencing the nexus between structured warrants and firm value.

Item Type:	Conference or Workshop Item (Paper)
Uncontrolled Keywords:	ESG Disclosure Score, Firm Value, Structured Warrants
Subjects:	H Social Sciences > HF Commerce > HF5001-6182 Business > HF5469.7-5481 Markets. Fairs
Divisions:	Faculty of Business (FOB)
Depositing User:	Ms Rosnani Abd Wahab
Date Deposited:	11 Oct 2021 08:27
Last Modified:	11 Oct 2021 08:27
URII:	http://shdl.mmu.edu.my/id/eprint/9579

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