DETERMINANTS OF ISO 9000 ACCREDITATION AND VALUE RELEVANCE IN MALAYSIAN PROPERTY SECTOR

The purpose of this paper is to examine the determinants of the ISO 9000 accreditation and value relevance in the Malaysian Property Sector. Using the property sector as the sample, an analysis is done on the characteristics of firms awarded with ISO 9000 accreditation and those with no accreditation from the same sector. Firms are categorized into two; ISO accredited and non ISO accredited, to gauge whether there are differences in the characteristics of firms in both categorized samples. Four characteristics; firm’s size, leverage, performance and maturity of firm are examined using the Logit analysis on data taken from 2009 annual reports. This paper is also to examine the factors that affect the value relevance of the company. Five variables; size, leverage performance, ISO 9000 accreditation and maturity of firm are examined using ordinary least square analysis on the same dataISO 9000, property sector, value relevance

Value relevance of aggregated vs disaggregated book value and earnings : evidence from Malaysian high-tech firms / Mohd Halim Kadri, Muhd Kamil Ibrahim and Rozainun Abdul Aziz.

This study is aimed at investigating the value relevance of aggregated and disaggregated book value and earnings of high-tech firms listed on Bursa Malaysia for the period from 2003-2008. Using the Ohlson (1995) basic and modified equity valuation models, this study investigated whether disaggregated book value and earnings could explain the variation in market value better than aggregated book value and earnings. The results of the basic model show that the explanatory powers of both book value and earnings are fluctuating with book value is in a decreasing trend whereas earnings is in an increasing trend. The results of the modified models show that disaggregated book value and earnings could explain the variation in market value better than aggregated book value and earnings

R&D information and market valuation: empirical evidence from Malaysian listed firms / Sunarti Halid ... [et al.]

Research and Development (hereafter R&D) is an expensive activity where it requires an investment of a certain amount of capital with the belief that they would result in some increased benefits in the future periods. Traditionally, firms have supported R&D because the technological improvements made possible by innovation allow them to better productivity, succeeded in markets and meet the regulatory demands. In relation to this, the major aim of this study is to understand and acknowledge the value relevance of R&D in market valuation. The study only focuses on listed companies in Malaysia for the year 2000 until 2012. This study empirically investigated the association between R&D information in determining and explaining the market value. The study also to identify a relationship between R&D with all other assets. Furthermore, we examined the relationship between the R&D and the sign of earnings items. An equity valuation model based on the modified balance sheet identity was used to permit R&D and other assets to have separate empirical coefficient values. This study found weak empirical support at best for the value relevance of R&D at the firm level. However, the market was taken into consideration the Book Value of Net Asset (BVNA) in determining the firm’s equity value as compared to R&D. The results also indicated that the market’s valuation of R&D are expected to be priced differently from other assets during the period of study. In addition, our results, provided evidence that there is no significant relationship between R&D information and the sign of earnings items

Determinants of income smoothing practices : evidence from South East Asia countries / Wan Adibah Wan Ismail, Khairul Anuar Kamarudin and Muhd Kamil Ibrahim

This paper presents the findings of a comparative study of income smoothing practices in Malaysia, Indonesia, Singapore, Philippines and Thailand. The objective of this study is to identify the factors associated with the incidence of income smoothing in these countries. The sample comprises 1,028 listed companies during the period 1999 to 2003. Five hypotheses, which relate income smoothing to company age, growth, size, leverage and earnings are tested in the study. Descriptive statistics indicate that income smoothing is practiced in South-east Asia countries

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