Public–private partnership (PPP) is a tool for infrastructure development in many countries. In Malaysia, the government has been implementing PPP since the 1980s, but the records show that quite a number of PPP projects have failed to achieve their objectives due to the lack of risk...

We examined market reactions to the financial distress announcements of listed firms in Malaysia. We investigated whether the market differentiates between the politically connected and non-politically connected vis-a-vis the outcomes at the time of the announcements. There is evidence of...