Article Per Year (5 Year)
p-Index From 2020 - 2025
0.444
P-Index
This Author published in this journals
All Journal Indonesian Capital Market Review
Shari, Wahidah
Unknown Affiliation
Economics, Econometrics & Finance

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
The Impact of Environmental, Social and Governance (ESG) Practices on the Financial Performance of Green Companies in Malaysia: An Empirical Analysis Zainuddin, Zaemah; Abd. Wahab, Norazlina; Shari, Wahidah; Bahaman, Muhamad Abrar; Yusof, Rosylin Mohd; Abdul Karim, Norzitah
Indonesian Capital Market Review Vol. 16, No. 1
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study examines the relationship between Environmental, Social, and Governance (ESG) perfor- mance and the financial performance of green companies in Malaysia. Analyzing 280 observations from 56 green companies listed in Bursa Malaysia from 2016 to 2020, the study employs rigorous regression analysis. The results indicate that ESG performance does not significantly influence the financial performance of these green companies. Instead, total sales and liability significantly impact both Return on Asset (ROA) and Return on Equity (ROE). These findings suggest that, despite the growing emphasis on ESG in the business sphere, other internal factors may have a more substantial effect on financial outcomes. While ESG considerations may not directly financial performance, their importance for social welfare and sustainable resource management remains indisputable.
Underpricing of the Malaysian Initial Public Offerings (IPOs) Shari, Wahidah
Indonesian Capital Market Review Vol. 17, No. 2
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study evaluates the short-term performance of 469 Malaysian IPOs between 2002 and 2020. Previous studies have found that IPOs are underpriced in the short-term yet underperform in the long term. The short-term underpricing describes the phenomenon characterized by a significant increase from the offer price to the first day of closing price. The finding shows that Malaysian IPOs are significantly underpriced by 24.6% using offer-to-close return (OTC), which confirms the findings reported in previous literature. Separating OTC to offer-to-ask (OTA) and ask-to-close (ATC) indicates that a significant positive return is observed only in the OTA period but not in the ATC period. This study also finds that the positive returns observed on the first trading day continue for up to two weeks of trading (CAR=4.43%). Findings of this study provide a better understanding of the performance of the IPO companies at two different stages, namely the initial issue stage and post-issue stage. A better understanding of the IPO performance can help investors to plan their future investment strategy by identifying the best time to purchase the IPO shares to take advantage of the significant positive initial return. The originality of this study is underscored by its meticulous methodology, tailored to the unique characteristics of the Malaysian IPO landscape, and its contribution to bridging the gap in the existing literature on short-term performance analysis in this specific context.
Co-Authors Abd. Wahab, Norazlina Abdul Karim, Norzitah Bahaman, Muhamad Abrar Yusof, Rosylin Mohd Zainuddin, Zaemah