Financial impacts of business sustainability development on Malaysia’s public listed companies during financial crisisTools Chang, Chiew Weng (2023) Financial impacts of business sustainability development on Malaysia’s public listed companies during financial crisis. [Dissertation (University of Nottingham only)]
AbstractEver since the industrial revolution, business sustainability has been a stapled concern that received continuous attention. In recent years, the global economy has been through different series of challenges, such as social, environmental, climate, and economic challenges. These challenges are heightening the awareness and demand for business sustainability from different stakeholders around the globe. Such increasing demand has led to the popularisation of the United Nations’ Sustainable Development Goal launched in 2015, which is represented by the commitment made by 193 global member states to participate in actions towards creating a sustainable world. However, there are still entities who are still doubtful about sustainable development due to numerous uncertainties on sustainability in real-life practices, especially in Malaysia where the awareness of business sustainability is still considerably low. Such a low level of business sustainability practice in Malaysia is often due to management’s scepticism on the worthiness of investment in business sustainability and its actual benefits as such commitment often requires an enormous investment of resources. These situations are worse during a recession, whereby even companies that have been developing business sustainability may halt the investment due to resource scarcity, causing all the prior efforts to go in vain. In this regard, this study explored the literature on the economic consequences of business sustainability and the challenges faced by companies and academics. Furthermore, it is also noted that most of the literature available on economic consequences focuses on the non-recession period and little is known about the effect of business sustainability during recessions, which limits the comprehensiveness of literature related to business sustainability. As such, this paper intends to develop a framework to explore and understand the effects of business sustainability on companies during the period of recessions, with further understanding of the criticality and importance of business sustainability aspects that would impact companies during recessions. With this study as a basis, future work would involve mapping business sustainability aspects with relevant economic consequences according to the requirement of different sectors and industries.
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