SDG-Driven Determinants of Market Capitalization: Evidence from the Malaysian Banking Sector
List of Authors
  • Aliana Shazma Amir, Azlini Che Hassan, Evawaynie Valquis Md. Isa, Noormaizatul Akmar Ishak, Nurul Ulya Abdul Rahman, Wan Sallha Yusoff, Zulaikha Rabitah Zaidi

Keyword
  • Women Empowerment; Risk Management Practices; Corporate Social Responsibility (CSR); Fintech Disclosure; Market Capitalization

Abstract
  • This study investigates the influence of women empowerment, risk management practices, corporate social responsibility (CSR), and fintech disclosure on market capitalization in Malaysia’s banking sector from 2011 to 2024. Grounded in Agency Theory, Stakeholder Theory, and Signaling Theory, the research explores how governance mechanisms and strategic disclosures contribute to financial value creation and sustainability. The empirical findings reveal that women empowerment and fintech disclosure have a significant positive relationship with market capitalization, indicating that gender-inclusive leadership and digital innovation strengthen investor confidence and firm valuation. CSR practices also positively influence market capitalization, reinforcing the role of social accountability in driving corporate legitimacy. Conversely, risk management practices show a negative association, suggesting that extensive risk disclosures may reflect perceived exposure rather than proactive governance. Collectively, these findings support the broader objectives of the United Nations Sustainable Development Goals (SDGs), particularly SDG 5 (Gender Equality), SDG 9 (Industry, Innovation, and Infrastructure), and SDG 12 (Responsible Consumption and Production). This study underscores the importance of integrating gender diversity, sustainability, and technological transparency in governance frameworks to enhance market performance and long-term investor trust.

Reference
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