Abstract
To examines the relationship of institutional investors' activism and corporate risk-taking in Malaysian non-financial firms. Selected Malaysian non-financial firms between 2000 and 2018 were analysed using Generalised Least Square (GLS) and Generalised Method of Moments (GMM) to solve endogeneity issues. This study demonstrates that active institutional investors could play their role by surveillance to reduce unnecessary risky investment by firms. The assessment of institutional ownership is limited to institutional investors' percentage of ownership only. This study suggests updating the governance framework for institutional investors’ diversity in Malaysian context to improve corporate governance. Institutional investors may play an active or inactive role in firms in deciding how often the participation of institutional investors does not offer robust alternatives to corporate risk-taking. Data from prior studies were inconclusive.
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