The objective of this study was to determine the presence of risk information within the annual report of Malaysian non-financial listed companies and empirically extend the current literature of corporate governance and risk disclosure by incorporating an interaction effect in the model. The study found that listed companies in Malaysia experienced a positive upward trend in terms of risk disclosure practice for 10 years (2008-2017). A total of 166 companies were randomly extracted from Main Board of Bursa Malaysia from 2008 to 2017. This study used content analysis, descriptive statistics and multiple regression to explain the relationship between corporate governance and risk disclosure with the effect of the interaction variable. The study also found positive and significant relationship between board independence, board size and board gender with risk disclosure practice. It is also revealed that attainment discrepancies positively influence the relationship between corporate governance and risk disclosure practices among listed companies in Malaysia. Keywords: risk disclosure, annual report, corporate governance, interaction variable, content analysis
{"title":"The Effect of Performance and Corporate Governance to Risk Disclosure among Listed Companies in Malaysia","authors":"Ag Kaifah Riyard bin Kiflee, M. Khan","doi":"10.24191/apmaj.v16i1-06","DOIUrl":"https://doi.org/10.24191/apmaj.v16i1-06","url":null,"abstract":"The objective of this study was to determine the presence of risk information within the annual report of Malaysian non-financial listed companies and empirically extend the current literature of corporate governance and risk disclosure by incorporating an interaction effect in the model. The study found that listed companies in Malaysia experienced a positive upward trend in terms of risk disclosure practice for 10 years (2008-2017). A total of 166 companies were randomly extracted from Main Board of Bursa Malaysia from 2008 to 2017. This study used content analysis, descriptive statistics and multiple regression to explain the relationship between corporate governance and risk disclosure with the effect of the interaction variable. The study also found positive and significant relationship between board independence, board size and board gender with risk disclosure practice. It is also revealed that attainment discrepancies positively influence the relationship between corporate governance and risk disclosure practices among listed companies in Malaysia. Keywords: risk disclosure, annual report, corporate governance, interaction variable, content analysis","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49011879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ruhanita Maelah, Mohammed Fadil Farhan Al Lami, Gheyath Ghassan
Small and medium sized enterprises (SMEs) are the biggest contributors to the Malaysian economy with more than a third of total gross domestic product (GDP) delivered by these industries. In a competitive business environment, SMEs need to utilize information and technology in making decisions. This study aimed to see the relationship between management accounting information (MAI), decision-making, and cloud computing among SMEs in Malaysia. A quantitative research design utilizing survey questionnaires were used to collect the data. The survey was conducted on 384 Malaysian small and medium-sized enterprises in various sectors. The study obtained 105 useable responses which were analysed using Smart PLS 3.0 (Partial Least Square). The study found all the dimensions of MAI; namely broad scope, timeliness, aggregation and integration, positively related to decision-making. The findings also indicated that cloud computing moderated the relationship between MAI and decision-making. The results provided evidence for organizations to realize the importance of MAI, and strategize how to relate to information characteristics in decision-making. Moreover, it enhances the understanding of SMEs on the role of cloud computing, in light of competitive business environments. Future studies have the opportunity to expand the scope to include samples from other geograpical areas and enhance data collection through case studies and interviews to understand the issue in-depth. Keywords: management accounting information (MAI), cloud computing, decision-making, SMEs
{"title":"Usefulness of Management Accounting Information in Decision Making Among SMEs: The Moderating Role of Cloud Computing","authors":"Ruhanita Maelah, Mohammed Fadil Farhan Al Lami, Gheyath Ghassan","doi":"10.24191/apmaj.v16i1-04","DOIUrl":"https://doi.org/10.24191/apmaj.v16i1-04","url":null,"abstract":"Small and medium sized enterprises (SMEs) are the biggest contributors to the Malaysian economy with more than a third of total gross domestic product (GDP) delivered by these industries. In a competitive business environment, SMEs need to utilize information and technology in making decisions. This study aimed to see the relationship between management accounting information (MAI), decision-making, and cloud computing among SMEs in Malaysia. A quantitative research design utilizing survey questionnaires were used to collect the data. The survey was conducted on 384 Malaysian small and medium-sized enterprises in various sectors. The study obtained 105 useable responses which were analysed using Smart PLS 3.0 (Partial Least Square). The study found all the dimensions of MAI; namely broad scope, timeliness, aggregation and integration, positively related to decision-making. The findings also indicated that cloud computing moderated the relationship between MAI and decision-making. The results provided evidence for organizations to realize the importance of MAI, and strategize how to relate to information characteristics in decision-making. Moreover, it enhances the understanding of SMEs on the role of cloud computing, in light of competitive business environments. Future studies have the opportunity to expand the scope to include samples from other geograpical areas and enhance data collection through case studies and interviews to understand the issue in-depth. Keywords: management accounting information (MAI), cloud computing, decision-making, SMEs","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46551986","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Timeliness of audited financial reports is pondered to be a crucial and important factor affecting the usefulness and quality of information that is available to its users. This study examined the effect of corporate governance on audit report lag in listed companies in the Malaysian construction industry. The construction industry in Malaysia is one of the most challenging and dynamic. The Agency Theory is a relevant theory to this study as it explains corporate governance which functions as an oversight mechanism to lessen agency problems. This study particularly examined the effect of board size, board diversity, board meeting, CEO duality, audit committee size and type of auditor on audit report lag. The study collected data covering a three-year period from 2015 to 2017. The study sample comprised of 138 Malaysian listed companies in the sector from Bursa Malaysia. Data were extracted from the annual report of the sample companies that was downloaded from the Bursa Malaysia website. Regression analysis was performed to examine the relationship between corporate governance attributes and audit report lag. The results demonstrated that board size, board diversity and auditor type have a significant relationship with audit report lag. Meanwhile, board meeting, CEO duality and audit committee size do not have a significant relationship with audit report lag. This study contributes to the literature on corporate governance and auditing. Particular explanations of the findings, implications, limitation and recommendation for future research are highlighted.
{"title":"Determinants of Audit Report Lag: Effect of Corporate Governance in Listed Companies in the Malaysian Construction Industry","authors":"Syahmi Akmal bin Kusin, Mohd Halim Kadri","doi":"10.24191/apmaj.v15i3-05","DOIUrl":"https://doi.org/10.24191/apmaj.v15i3-05","url":null,"abstract":"Timeliness of audited financial reports is pondered to be a crucial and important factor affecting the usefulness and quality of information that is available to its users. This study examined the effect of corporate governance on audit report lag in listed companies in the Malaysian construction industry. The construction industry in Malaysia is one of the most challenging and dynamic. The Agency Theory is a relevant theory to this study as it explains corporate governance which functions as an oversight mechanism to lessen agency problems. This study particularly examined the effect of board size, board diversity, board meeting, CEO duality, audit committee size and type of auditor on audit report lag. The study collected data covering a three-year period from 2015 to 2017. The study sample comprised of 138 Malaysian listed companies in the sector from Bursa Malaysia. Data were extracted from the annual report of the sample companies that was downloaded from the Bursa Malaysia website. Regression analysis was performed to examine the relationship between corporate governance attributes and audit report lag. The results demonstrated that board size, board diversity and auditor type have a significant relationship with audit report lag. Meanwhile, board meeting, CEO duality and audit committee size do not have a significant relationship with audit report lag. This study contributes to the literature on corporate governance and auditing. Particular explanations of the findings, implications, limitation and recommendation for future research are highlighted.","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46916214","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nurhidayah Yahya, Jamaliah Said, N. B. Zakaria, R. Atan
There are few frauds and unethical cases in the Malaysian public sector and that might have contributed to the lower score in the Corruption Perception Index (CPI) for Malaysia. Hence corporate integrity is crucial as one of the mechanisms to curb corruption. This study aimed to evaluate and compare corporate integrity practices of federal and state statutory bodies through a survey questionnaire. The measurement for corporate integrity practices is based on three dimensions; ethical foundation, ethical culture and ethical risk management. Based on 194 responses received from the top management of Malaysian statutory bodies, the overall corporate integrity practices showed an above-average score of 5.938 for federal and 5.896 state statutory bodies. The T-test results indicated that there is no significant difference between corporate integrity practices in federal and state statutory bodies. Despite the different resources they have, both types of statutory bodies seem to have and instil an equally high level of corporate integrity practices.
{"title":"Assessing and Comparing the Level of Corporate Integrity Practices in Malaysian Statutory Bodies","authors":"Nurhidayah Yahya, Jamaliah Said, N. B. Zakaria, R. Atan","doi":"10.24191/apmaj.v15i3-07","DOIUrl":"https://doi.org/10.24191/apmaj.v15i3-07","url":null,"abstract":"There are few frauds and unethical cases in the Malaysian public sector and that might have contributed to the lower score in the Corruption Perception Index (CPI) for Malaysia. Hence corporate integrity is crucial as one of the mechanisms to curb corruption. This study aimed to evaluate and compare corporate integrity practices of federal and state statutory bodies through a survey questionnaire. The measurement for corporate integrity practices is based on three dimensions; ethical foundation, ethical culture and ethical risk management. Based on 194 responses received from the top management of Malaysian statutory bodies, the overall corporate integrity practices showed an above-average score of 5.938 for federal and 5.896 state statutory bodies. The T-test results indicated that there is no significant difference between corporate integrity practices in federal and state statutory bodies. Despite the different resources they have, both types of statutory bodies seem to have and instil an equally high level of corporate integrity practices.","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41765697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Although Japan has been having a high environmental reporting rate for a long time, the contextual factors promoting it are limitedly explored. Investigating them could enrich references to understand the improvement of this practice. Therefore, this study aimed to explore the contextual factors promoting this practice in Japan based on the Institutional Theory by applying thematic analysis to several official documents from the Japanese government. The analysis discovered regulative, normative, and cognitive elements emanating from regulations and initiatives from the Government, Japanese society and companies, and overseas practices, which promote environmental reporting as a tatemae. The findings provide a basic understanding of institutional elements endorsing environmental reporting in Japan to feed future research and other countries in improving this practice.
{"title":"The Institution of Environmental Reporting in Japan: An Exploratory Study","authors":"Afdal Madein","doi":"10.24191/apmaj.v15i3-08","DOIUrl":"https://doi.org/10.24191/apmaj.v15i3-08","url":null,"abstract":"Although Japan has been having a high environmental reporting rate for a long time, the contextual factors promoting it are limitedly explored. Investigating them could enrich references to understand the improvement of this practice. Therefore, this study aimed to explore the contextual factors promoting this practice in Japan based on the Institutional Theory by applying thematic analysis to several official documents from the Japanese government. The analysis discovered regulative, normative, and cognitive elements emanating from regulations and initiatives from the Government, Japanese society and companies, and overseas practices, which promote environmental reporting as a tatemae. The findings provide a basic understanding of institutional elements endorsing environmental reporting in Japan to feed future research and other countries in improving this practice.","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49415679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-31DOI: 10.24191/APMAJ.V15I3.1331
M. Namazi, Z. Hosseini
Performance Focused Activity Based Costing (PFABC) system is the third generation of the ABC systems. The major purposes of this study were: 1. to design a framework for identifying constructs that should be selected for successful implementation of the PFABC system? And empirically test it and 2: to explain why there is a gap between theory and practice of this system? In achieving these objectives, content analysis, contingent theory, and innovation theory were employed. The statistical population consisted of all Tehran Stock Exchange (TSE) companies. In 2018, 450 questionnaires were sent to (TSE) corporate executives and 262 usable responses were collected. The Structural Modeling Equations (SME), SPSS and SMARTPLS software were employed to test related hypotheses and analyze the results. The results of the study clearly showed that environmental constructs (0.997) had the greatest impact, followed by cost constructs (0.996), technological constructs (0.993) and finally organizational constructs (0.981), respectively. However, there was no significant relationship between the desire to save, system integration, time of system implementation, and implementation of the PFABC costing system. These constructs are also the major imputes responsible for the existence of a gap between theory and practice. The application of ABC, TDABC, and PFABC among TSE firms, was 6.1%, 0.04% and 0%, accordingly. Hence, there is a huge gap between theory and practice.
{"title":"Design and Empirical Testing of a Framework for Implementing PFABC Costing Systems","authors":"M. Namazi, Z. Hosseini","doi":"10.24191/APMAJ.V15I3.1331","DOIUrl":"https://doi.org/10.24191/APMAJ.V15I3.1331","url":null,"abstract":"Performance Focused Activity Based Costing (PFABC) system is the third generation of the ABC systems. The major purposes of this study were: 1. to design a framework for identifying constructs that should be selected for successful implementation of the PFABC system? And empirically test it and 2: to explain why there is a gap between theory and practice of this system? In achieving these objectives, content analysis, contingent theory, and innovation theory were employed. The statistical population consisted of all Tehran Stock Exchange (TSE) companies. In 2018, 450 questionnaires were sent to (TSE) corporate executives and 262 usable responses were collected. The Structural Modeling Equations (SME), SPSS and SMARTPLS software were employed to test related hypotheses and analyze the results. The results of the study clearly showed that environmental constructs (0.997) had the greatest impact, followed by cost constructs (0.996), technological constructs (0.993) and finally organizational constructs (0.981), respectively. However, there was no significant relationship between the desire to save, system integration, time of system implementation, and implementation of the PFABC costing system. These constructs are also the major imputes responsible for the existence of a gap between theory and practice. The application of ABC, TDABC, and PFABC among TSE firms, was 6.1%, 0.04% and 0%, accordingly. Hence, there is a huge gap between theory and practice.","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42042914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-31DOI: 10.24191/APMAJ.V15I3.1172
S. Srinivasan, M. Thenmozhi, P. Vijayaraghavan
The purpose of this study is to develop a comprehensive model that examines the impact of corporate diversification, and its interaction effects with ownership structure, industry structure and firm size, in explaining firm performance for three distinct phases of institutional development in an Indian context. The conceptual model developed through review of literature is tested using a large sample of publicly traded companies in India, using GLM Univatiate model, for Post-liberalization, Transition and Pre-liberalization phases that span a period of fifteen years. Our findings show that diversification firm performance relationship varies as institutions develop. Although unrelated diversifiers achieved superior performance during the pre-liberalization phase, focused players performed better during the transition phase. Post-liberalization, diversification did not impact firm performance; superior firm performance was driven by the ability of firms to scale, be present in profitable industries and productively use their assets. Significant interaction effects were observed between diversification and, industry structure, ownership type and firm size, in explaining firm performance. Firms affiliated to large business groups continue to be highly diversified and under performed as institutions developed.
{"title":"Performance Implications of Diversification Strategies During Institutional Transformations: An Emerging Market Study","authors":"S. Srinivasan, M. Thenmozhi, P. Vijayaraghavan","doi":"10.24191/APMAJ.V15I3.1172","DOIUrl":"https://doi.org/10.24191/APMAJ.V15I3.1172","url":null,"abstract":"The purpose of this study is to develop a comprehensive model that examines the impact of corporate diversification, and its interaction effects with ownership structure, industry structure and firm size, in explaining firm performance for three distinct phases of institutional development in an Indian context. The conceptual model developed through review of literature is tested using a large sample of publicly traded companies in India, using GLM Univatiate model, for Post-liberalization, Transition and Pre-liberalization phases that span a period of fifteen years. Our findings show that diversification firm performance relationship varies as institutions develop. Although unrelated diversifiers achieved superior performance during the pre-liberalization phase, focused players performed better during the transition phase. Post-liberalization, diversification did not impact firm performance; superior firm performance was driven by the ability of firms to scale, be present in profitable industries and productively use their assets. Significant interaction effects were observed between diversification and, industry structure, ownership type and firm size, in explaining firm performance. Firms affiliated to large business groups continue to be highly diversified and under performed as institutions developed.","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43504221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-31DOI: 10.24191/APMAJ.V15I3.1182
Saunah Zainon, R. Ismail, S. Nawi, Roslina Mohamad Shafi, Faridah Najuna Misman, N. B. Zakaria
This study investigated the impact of environmental, social and governance (ESG) disclosures on financial performance as captured by firms’ value of public listed companies (PLCs) in Malaysia due to the growing interest in ESG disclosure practices. The sample consisted of 114 PLCs in Malaysia selected from Datastream. All the selected companies had a complete ESG for 2019. Using the ESG score index, the mean score for each disclosure was computed. Both correlation and regression analyses were carried out to investigate possible links between ESG and accounting measures of financial performance as a proxy by the Weighted Average Cost of Capital (WACC). Based on a regression analysis, ESG was discovered to have a significant relationship with WACC. In addition, further analysis revealed that out of the three dimensions of ESG, social disclosure had a significant impact on financial performance compared to environmental and governance disclosure. This study provides empirical evidence concerning the dominant impact of social disclosure for firms’ financial information. It also provides environmental and governance disclosures that are important for stakeholders. The results offer stakeholders more transparent and useful information on corporate social responsibility reporting which provides for a more visible reporting in order to gain trust from stakeholders.
{"title":"Environmental, Social and Governance Disclosures on Financial Performance of Public Listed Companies in Malaysia","authors":"Saunah Zainon, R. Ismail, S. Nawi, Roslina Mohamad Shafi, Faridah Najuna Misman, N. B. Zakaria","doi":"10.24191/APMAJ.V15I3.1182","DOIUrl":"https://doi.org/10.24191/APMAJ.V15I3.1182","url":null,"abstract":"This study investigated the impact of environmental, social and governance (ESG) disclosures on financial performance as captured by firms’ value of public listed companies (PLCs) in Malaysia due to the growing interest in ESG disclosure practices. The sample consisted of 114 PLCs in Malaysia selected from Datastream. All the selected companies had a complete ESG for 2019. Using the ESG score index, the mean score for each disclosure was computed. Both correlation and regression analyses were carried out to investigate possible links between ESG and accounting measures of financial performance as a proxy by the Weighted Average Cost of Capital (WACC). Based on a regression analysis, ESG was discovered to have a significant relationship with WACC. In addition, further analysis revealed that out of the three dimensions of ESG, social disclosure had a significant impact on financial performance compared to environmental and governance disclosure. This study provides empirical evidence concerning the dominant impact of social disclosure for firms’ financial information. It also provides environmental and governance disclosures that are important for stakeholders. The results offer stakeholders more transparent and useful information on corporate social responsibility reporting which provides for a more visible reporting in order to gain trust from stakeholders.","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49631549","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-08-31DOI: 10.24191/APMAJ.V15I2.1140
Meenal Sharma, Raj Kumar, Rajbir Kaur
The recent corporate trends show a shift towards responsible performance and increased responsibility disclosures. The reporting of environmental, social and governance (ESG) factors by a firm has been found to have positive market valuations. This study empirically analyses the association of ESG disclosures and market valuations in an emerging market, India. This study is original as it examines the association between responsibility disclosure and firm value of family firms with non-family business firms. This study was conducted with a sample of 245 Indian companies over 5 years and the results show that ESG disclosures do not significantly explain firm value (measured as Tobin’s q). A significant difference between the ESG disclosure practices of family and non-family firms was found. The family firms make higher ESG disclosures. These results document another advantage of family-ownership in today’s era of responsible investing. The study has implications for investors in investment decision making and screening of investments.
{"title":"Corporate Sustainability and Fair Market Value: A Study of Indian Family Versus Non-Family Firms","authors":"Meenal Sharma, Raj Kumar, Rajbir Kaur","doi":"10.24191/APMAJ.V15I2.1140","DOIUrl":"https://doi.org/10.24191/APMAJ.V15I2.1140","url":null,"abstract":"The recent corporate trends show a shift towards responsible performance and increased responsibility disclosures. The reporting of environmental, social and governance (ESG) factors by a firm has been found to have positive market valuations. This study empirically analyses the association of ESG disclosures and market valuations in an emerging market, India. This study is original as it examines the association between responsibility disclosure and firm value of family firms with non-family business firms. This study was conducted with a sample of 245 Indian companies over 5 years and the results show that ESG disclosures do not significantly explain firm value (measured as Tobin’s q). A significant difference between the ESG disclosure practices of family and non-family firms was found. The family firms make higher ESG disclosures. These results document another advantage of family-ownership in today’s era of responsible investing. The study has implications for investors in investment decision making and screening of investments.","PeriodicalId":41923,"journal":{"name":"Asia-Pacific Management Accounting Journal","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49370969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：