Anti-Corruption Efforts in the Healthcare Sector During the Covid-19 Pandemic in Malaysia

• Published in: SAGE OPEN
• Main Authors: Mahmud, Nurfarizan Mazhani; Mohamed, Intan Salwani; Arshad, Roshayani; Adam, Amizahanum
• Format: Article
• Language: English
• Published: SAGE PUBLICATIONS INC 2024
• Subjects: Social Sciences - Other Topics
• Online Access: https://www-webofscience-com.uitm.idm.oclc.org/wos/woscc/full-record/WOS:001206161000001

The Covid-19 pandemic has had an irreversible impact on the global economy and industries, particularly in the healthcare sector. The rush to respond to the pandemic, particularly in terms of getting treatment and vaccines and technology to market, has created a huge opportunity for undisclosed corruption and misconduct in the research and development and procurement processes. Effectively responding to current and future global health corruption threats is critical if the world is to provide health care to all. Due to a lack of research in preventive corruption measures in the healthcare industry, this paper aims to provide an overview of anti-corruption efforts among healthcare companies listed on the main board of Bursa Malaysia. The disclosure index is made up of 47 items derived from a review of previous literature and the Malaysian Anti-Corruption Act. The content analysis research method is used to analyze information from 13 companies listed in 2020's anti-corruption policies and procedures published on their website, board charter, whistleblowing policy, code of ethics and conduct, annual report, sustainability report, and corporate governance report. According to the findings, Malaysia's healthcare industry has demonstrated a strong commitment to fighting corruption, with 76.9% of companies scoring higher than average on the disclosure index. Purpose: This paper aims to provide an overview of anti-corruption efforts among healthcare companies listed on the main board of Bursa Malaysia. The disclosure index comprises 47 items derived from a review of previous literature and the Malaysian Anti-Corruption Act. Methods: The content analysis research method is used to analyze information from 13 companies listed in 2020's anti-corruption policies and procedures published on their website, board charter, whistleblowing policy, code of ethics and conduct, annual report, sustainability report, and corporate governance report. Conclusions: According to the findings, Malaysia's healthcare industry has demonstrated a strong commitment to fighting corruption, with 76.9% of companies scoring higher than average on the disclosure index. Implications: Government should consider reducing political influences in private healthcare management to ensure a more transparent procurement process. Companies should conduct risk assessments for corruption, as an effective anti-corruption programme lies in assessing the corruption risk of a business organization. Accountability, transparency, and an open and fair tender system that does not favor well-connected interest groups are also essential; selection should be based on experience, knowledge, and managerial competencies. Limitations: This study only includes healthcare companies that are listed on the main board of Bursa Malaysia. As such, the finding cannot be generalized to other healthcare companies. Second, the results will undoubtedly raise issues about whether disclosures on anti-corruption policies mitigate corruption practices during the pandemic and what factors lead companies to disclose more on specific information while being hesitant to do so on other information. These issues deserve future research attention.