Transparency can be defined as an important element of a healthy corporate governance framework where it is able to provide the basis for informed decision-making by shareholders, stakeholders and potential investors especially on capital allocation, corporate transactions and financial performance monitoring. The importance of transparency has been widely recognized by both academics and market regulators which has resulting in numerous introduction and amendments of regulations over time in order to ensure that the company is clean and away from any fraudulent activities. Today, transparency is taking on a new dimension with more comprehensive and proactive disclosures by putting more responsibilities on the information and not only let the truth be available to the public but imposes to disclose it to every stakeholder and different type of stakeholders group. Hence it is crucial to determine role of shareholders, regulatory bodies and government in promoting transparency among public listed companies in Malaysia. A set of questionnaire was distributed and answered by 156 respondents from public listed companies in Malaysia namely Company Secretary and also Investor Relation Officer. The finding of the study revealed that there was a high level of transparency among public listed company in Malaysia. Besides that, the shareholders play an importance role in enhancing the level of transparency in Malaysian public listed companies. Furthermore, there is a positive relationship between regulatory bodies and level of transparency in Malaysian public listed companies. There is a finding that government has a significant role towards transparency in Malaysian public listed companies. Finally, the study also revealed that regulatory bodies play most significant role in enhancing transparency among public listed companies in Malaysia. Thus, the researcher found that the finding of the study and also recommendation can contribute in the research area.
