The Media Coverage and Sustainability Performance: Untying the Node in Malaysian Public Listed Companies
DOI:
https://doi.org/10.53840/jmm.v16i1.270Keywords:
Media Coverage, Corporate Governance, Agenda-Setting Theory, Corporate Sustainability PerformanceAbstract
Corporate sustainability is one of the concepts that is prominently discussed all over the world. Striving for corporate longevity and sustainability has become an imperative agenda, especially in the post-COVID-19 era. The public perception depends so much on what the company is doing. Therefore, the media plays an important role in highlighting the sustainability performance of corporations and influencing public perception. Given the significant influence of media coverage, it is necessary to investigate its impact on CSP, which remains under-researched in the sustainability performance literature. Therefore, this study investigates the relationship between media coverage and corporate sustainability performance (CSP) among Malaysian public listed companies, grounded in agenda-setting theory. This study employed a quantitative research approach with a longitudinal design, analysing data from 254 firms across eleven industries listed on Bursa Malaysia over the period 2020–2022. Media coverage was measured using net scores derived from positive and negative news reported in The Edge Malaysia, while CSP was assessed through a content analysis of firms’ annual reports, incorporating economic, environmental, and social dimensions. The findings reveal a significant and positive association between media coverage and CSP, indicating that greater media attention enhances firms’ commitment to sustainability. This study contributes to the literature by extending the application of agenda-setting theory to the accounting domain and highlighting the media’s role as an external governance mechanism. The results offer practical implications for managers, regulators, and policymakers in enhancing transparency, accountability, and long-term corporate sustainability strategies in ensuring corporate longevity.
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