Sectoral analysis of Malaysian companies’ CSR initiatives for organisational risk management.

Abstract

The term "Corporate Social Responsibility" (CSR), which has been used in the business sector for some time, is usually used to refer to a collection of initiatives designed to boost a company's public relations efforts and thereby improve its reputation. Globalization offers advantages to businesses, but it also brings with it new dangers and unstable conditions. As businesses grow more dependent and vulnerable, there is more uncertainty in corporate decision-making. Since of this interconnectedness, new risk management strategies are required because inexperienced players have developed. This study investigates the relationship between CSR and organisational risk management practises among Malaysia’s publicly listed firms. An exploratory content analysis was conducted for this study on the annual and sustainability reports of the 91 Malaysian listed PLCs from year 2004 to 2021. From a broad viewpoint, the results of this study indicate that Malaysian organisations have steadily adopted organisational risk management methods during the allotted time period, along with the expansion of CSR activities. To gain a deeper knowledge of this link, this study also reveals the industrial breakdown analysis in greater detail. This study shows that CSR practises and organisational risk management practises are on the rise in Malaysia. This upward trend may indicate a tendency toward higher CSR performance to counteract any anticipated or unanticipated organisational risk signals.