Assessment of Risk Management Practices in the Public Sector of Malaysia

International Journal of Business and Emerging Markets, 12(3), 377–390. (online) https://www.doi.org/10.1504/IJBEM.2020.1003296, 2020

12 Pages Posted: 4 Sep 2021

See all articles by Jamaliah Said

Jamaliah Said

Universiti Teknologi MARA (UiTM)

Md. Mahmudul Alam

Universiti Utara Malaysia - School of Economics, Finance and Banking

Razana Juhaida Johari

Universiti Teknologi MARA (UiTM)

Date Written: August 8, 2020

Abstract

Public sectors around the world, especially in the developing counties, are not functioning well due to widespread fraud, governance, corruption, and inefficacy. For this reason, the world’s public sectors need to improve their efficacy by using a sound risk management system. This study attempts to comprehend the phenomenon of current risk management practices among the public sector employees in different service schemes in Malaysia. A questionnaire survey was utilized to collect primary data from 194 department heads in Malaysia’s federal ministries. The collected data was analysed using descriptive statistics and factor analysis. Findings revealed that 94.7% of respondents agreed to implementing risk management in their respective departments, but the level of priority for these risk management factors differs based on the service schemes. This study will assist policymakers to identify what is needed to enhance risk management practices in the public sector.

Keywords: Pubic Sector, Risk Management, Factor Analysis, Malaysia

Suggested Citation

Said, Jamaliah and Alam, Md. Mahmudul and Johari, Razana Juhaida, Assessment of Risk Management Practices in the Public Sector of Malaysia (August 8, 2020). International Journal of Business and Emerging Markets, 12(3), 377–390. (online) https://www.doi.org/10.1504/IJBEM.2020.1003296, 2020, Available at SSRN: https://ssrn.com/abstract=3901348

Jamaliah Said

Universiti Teknologi MARA (UiTM) ( email )

40450 Shah Alam
Johor
Dungun, Selangor 23000
Malaysia

Md. Mahmudul Alam (Contact Author)

Universiti Utara Malaysia - School of Economics, Finance and Banking ( email )

Razana Juhaida Johari

Universiti Teknologi MARA (UiTM) ( email )

40450 Shah Alam
Shah Alam, Selangor 40450
Malaysia

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