Assessing the Listed Property Companies Readiness Towards Environmental Social Governance Implementation in Malaysia

Vincent Leow Chee Ho, Lim Jian Yi, Noorsidi Aizuddin Bin Mat Noor and Rohaya Binti Abdul Jalil
Additional contact information
Vincent Leow Chee Ho: Department of Real Estate, Faculty of Built Environment and Surveying, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia
Lim Jian Yi: Department of Real Estate, Faculty of Built Environment and Surveying, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia
Noorsidi Aizuddin Bin Mat Noor: Department of Real Estate, Faculty of Built Environment and Surveying, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia
Rohaya Binti Abdul Jalil: Department of Real Estate, Faculty of Built Environment and Surveying, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysi

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 7, 2514-2524

Abstract: The increasingly growing concerns towards sustainable development and corporate social responsibility on a global scale have prompted the implementation of environmental, social, and governance (ESG) principles in the operations of various industries, including the property sector in Malaysia. Therefore, this research aims to assess the readiness of Malaysian-listed property companies to implement ESG practices and investigate the expectations of non-ESG-listed property companies in Malaysia regarding ESG implementation. A comprehensive analysis of survey responses adopts a stratified sampling method with 53 respondents, representing samples from the population of Malaysian listed property companies. The first objective focuses on identifying the readiness among the listed property companies in Malaysia towards ESG implementation. For this objective, data is collected using a structured questionnaire and statistically analyzed using the Statistical Package for the Social Sciences (SPSS) to calculate descriptive statistics such as mean, standard deviation, and frequency. Additionally, mean analysis is performed to determine the average scores for each dimension. The results are then compared between the environmental, social, and governance factors. The findings reveal that most of the factors in this research have low mean scores, indicating that these factors are considered the least influential, suggesting that Malaysian listed property companies still need to be ready for ESG implementation. The second objective is to investigate the expectations of non-ESG-listed property companies in Malaysia to participate in ESG implementation. Data analysis for this objective primarily involves descriptive statistics through frequency analysis. Furthermore, the Relative Importance Index (RII)assesses the relative importance of expectations for implementing ESG practices. Respondents rate the importance of various factors that impact ESG implementation, and RII scores are calculated to determine the most important expectations. The analysis results show that implementing ESG practices can improve employee morale and productivity, leading to higher top-line growth, the main expectation of Malaysian non-ESG listed property companies regarding ESG implementation. The significance of this quantitative research extends to policymakers, regulators, industry associations, and professional bodies in developing targeted strategies to promote sustainable and ethical behaviours in the Malaysian real estate industry. By quantifying ESG readiness, the research promotes responsible and sustainable business practices among listed property companies, fostering a more resilient and sustainable real estate sector in Malaysia. The findings contribute valuable empirical evidence to ESG implementation within the Malaysian real estate industry.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.rsisinternational.org/journals/ijriss/ ... ssue-7/2514-2524.pdf (application/pdf)
https://rsisinternational.org/journals/ijriss/arti ... ntation-in-malaysia/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:8:y:2024:i:7:p:2514-2524

Access Statistics for this article

International Journal of Research and Innovation in Social Science is currently edited by Dr. Nidhi Malhan

More articles in International Journal of Research and Innovation in Social Science from International Journal of Research and Innovation in Social Science (IJRISS)
Bibliographic data for series maintained by Dr. Pawan Verma ().