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Disclosure of Executive Directors’ Remuneration from Multiple Theoretical Lenses and Cultural Perspective

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This study examines the disclosure of executive directors’ remuneration in Malaysian from agency theory, legitimacy and cultural perspective during the years of 2000, 2001, 2008 and 2011, a period of regulatory reforms. From an agency perspective, the result shows that family owners continued to be a major obstacle in ensuring adequate disclosure. However, government ownership is found to encourage transparency. The results also pinpoint or lean towards weaknesses in the strength and independence of corporate governance mechanisms in the Malaysian market. Consistent with legitimacy theory, bigger companies disclose more on executive directors’ remuneration. From a cultural perspective, the results supported the notion that Malay executive directors being Muslim would promote greater transparency compared to the Chinese directors.
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Keywords: Agency Theory; Culture; Legitimacy Theory; Malaysia; Remuneration Disclosure

Document Type: Research Article

Affiliations: Universiti Utara Malaysia, Kedah, Malaysia

Publication date: April 1, 2017

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  • ADVANCED SCIENCE LETTERS is an international peer-reviewed journal with a very wide-ranging coverage, consolidates research activities in all areas of (1) Physical Sciences, (2) Biological Sciences, (3) Mathematical Sciences, (4) Engineering, (5) Computer and Information Sciences, and (6) Geosciences to publish original short communications, full research papers and timely brief (mini) reviews with authors photo and biography encompassing the basic and applied research and current developments in educational aspects of these scientific areas.
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