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首页> 外文期刊>Journal of Quality Measurement and Analysis: JQMA >POLITICAL INFLUENCES AND INVESTORS' PERCEIVED RISK: A PRELIMINARY STUDY
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POLITICAL INFLUENCES AND INVESTORS' PERCEIVED RISK: A PRELIMINARY STUDY

机译：政治影响和投资者的感知风险：初步研究

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摘要

The objective of the study is to discuss the effects of political influence on investors' perceived risk under the political connected firms. Under the Malaysian political environment, relationship based of economic system which commonly practiced by most of the listed firms would enhance the needs of politician to participate as directors of the firm in order to ensure the firm's survival in competitive industry. The effects of systematic exchange of favours between politician and firms has led to the arguments of political hypotheses in governance literature. As supported under the helping hand effects, empirical evidences have shown a favourable impact on firms accounting value and market based-performance due to the government favours and bailed-out to connected firms. However, the government obligations towards the people in social and political agenda have exacerbated the rent-seeking activities of political directors in realising the objectives. Moreover, due to the increasing number of cases reported involving high political figures in allegations of misallocation of firm's resources and abuse of power in the 1MDB (1Malaysia Development Berhad), manipulation of stock figures and forgery of signatures of board members for a numbers of transactions in FGV (Felda Global Ventures Holdings Berhad), the credibility of politicians to perform his duties as firms' director to maximising the shareholders' wealth is questioned. As a consequence, a negative perception on the government may lead to inefficient capital market thus impair the investors' confidence in future investment.
机译：该研究的目的是探讨政治影响对政治关联公司的投资者感知风险的影响。在马来西亚政治环境下，大多数上市公司普遍练习的经济体系的关系将提高政治家的需求，以确保公司在竞争性行业中的生存。政治家和公司之间系统交流的影响导致治理文学中的政治假设的论点。正如在帮助的手动效果下支持，由于政府利用和纾困到关联公司，实证证明对公司会计价值和市场的绩效有利影响。但是，政府对社会和政治议程人民的义务加剧了政治董事的寻求活动，实现了目标。此外，由于涉及公司资源误导和滥用权力的误区越来越多的案件报告，涉及高政治人物，并在1MDB（1马来西亚发展Berhad），股票数据的操纵和董事会成员签字的数量在FGV（Felda Global Ventures Holdings Berhad）中，政治家的可信度作为公司主任最大化股东财富的职责履行职责。因此，对政府的负面看法可能导致资本市场效率低下，从而损害投资者对未来投资的信心。

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  • 作者

    RUSLI M. N.; MAMAT N. J. Z.; MOHD SURADI N. R.; MUSTAFA Z.; ZALINA M. A.;

  • 作者单位

    Faculty of Economics and Management Universiti Kebangsaan Malaysia 43600 UKM Bangi Selangor DE MALAYSIA;

    School of Mathematical Sciences Faculty of Science and Technology Universiti Kebangsaan Malaysia 43600 UKM Bangi Selangor DE MALAYSIA;

    School of Mathematical Sciences Faculty of Science and Technology Universiti Kebangsaan Malaysia 43600 UKM Bangi Selangor DE MALAYSIA;

    School of Mathematical Sciences Faculty of Science and Technology Universiti Kebangsaan Malaysia 43600 UKM Bangi Selangor DE MALAYSIA;

    School of Mathematical Sciences Faculty of Science and Technology Universiti Kebangsaan Malaysia 43600 UKM Bangi Selangor DE MALAYSIA;

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  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 计量学;
  • 关键词

    political connections; perceived risk; political hypotheses;

    机译：政治联系;感知风险;政治假设;

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