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Article
Publication date: 17 June 2019

Wan Abd Al Qadr Imad Wan-Mohtar, Anita Klaus, Acga Cheng, Shardana Aiga Salis and Sarina Abdul Halim-Lim

The purpose of this paper is to identify the strain of oyster mushroom (OM) Pleurotus sapidus cultivated in a local (commercial) farm, and to generate a total quality…

Abstract

Purpose

The purpose of this paper is to identify the strain of oyster mushroom (OM) Pleurotus sapidus cultivated in a local (commercial) farm, and to generate a total quality index (TQI) on the strain using different modified atmosphere packaging (MAP) gas mixtures.

Design/methodology/approach

A phylogenetic tree was constructed using the MEGA software to identify the specific strain of P. sapidus grown in a local farm. The effects of MAP on fresh fruiting bodies of the identified strain were determined under three conditions: high carbon dioxide packaging (HCP: 20 per cent CO2, 15 per cent O2), low carbon dioxide packaging (LCP: 2 per cent CO2, 30 per cent O2) and high nitrogen packaging (HNP: 85 per cent N2, 15 per cent O2). All samples were stored at 4 oC for up to ten days, and subjected to total phenolic content (TPC), colour retention (CR) and sensory analysis. Quality parameters such as chewiness and odour were used to obtain the TQI.

Findings

From the phylogenetic analysis, a new strain (P. sapidus strain QDR) with 99 per cent similarity to P. sapidus was identified. Among the three MAP treatments, HCP recorded the highest TPC (2.85 mg GAE/g) and CR (60.36) after ten days, although only its CR was significantly different (p<0.05) from the control. Feedback from 30 sensory panellists indicated that both HCP and LCP were generally more effective in retaining the colour–odour of OM. The optimum TQI for HCP was obtained based on the observed parameters, which is useful for the large-scale packaging of OM.

Originality/value

Scientific evidence has revealed that packaging trend for commercially grown OM affects consumer’s acceptance.

Details

British Food Journal, vol. 121 no. 8
Type: Research Article
ISSN: 0007-070X

Keywords

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Article
Publication date: 30 September 2019

Ratna Wardhani

The purpose of this paper is to investigate the role of the auditor in enhancing the market consequences of voluntary disclosure in East Asian countries that have…

Abstract

Purpose

The purpose of this paper is to investigate the role of the auditor in enhancing the market consequences of voluntary disclosure in East Asian countries that have different reporting environments. This study also investigates the effect of quality of the reporting environment on the role of the auditor in enhancing market consequences of voluntary disclosure.

Design/methodology/approach

The methodology used in this research is multiple regressions using the least square method. This research uses East Asian countries context that covers India, Indonesia, Japan, Malaysia, the Philippines, Singapore and Thailand with cross-sectional data during 2016. This research uses four measurements of market consequences, namely, cumulative abnormal return (CAR), volatility of return, bid-ask spread and trading volume.

Findings

The results show that voluntary disclosure gives positive consequences to the capital market by increasing the CAR, volatility of return and average trading volume, and decreasing asymmetric information. The results also show that auditor plays a significant role in increasing the credibility of voluntary disclosure by increasing the market consequences of disclosure. The role of the auditor in increasing the effect of voluntary disclosure is higher in a country that adopts international best practice in financial reporting.

Research limitations/implications

The findings of this study need to be interpreted with caution due to several limitations. Although the measurement of voluntary disclosure used in this study is relatively more complete compared to previous research, there are still much voluntary information disclosed that are not included in the checklist. Moreover, this study only considers voluntary disclosure in the annual report. Therefore, future studies can develop a more comprehensive measurement of voluntary disclosure and use sources of information beyond the annual report.

Practical implications

This study shows that in a reporting environment that is less transparent as in the conditions of countries in East Asia, voluntary disclosure and the role of the auditor in increasing value of voluntary disclosure for market participants is crucial. Companies need to increase their voluntary disclosures as they become additional provisions in improving the reporting environment and consider the result of this study when choosing the auditor. Second, audit quality is more important in increasing the credibility of voluntary disclosure in countries that adopt international best practices in financial reporting. The result of this study implies that audit quality is a complementary mechanism of the reporting environment.

Originality/value

This study expands the literature of the role of the auditor on the market consequences of voluntary disclosures and explores the role of the auditor in different reporting environment across countries in East Asia. This study shows that auditor increases the credibility of voluntary disclosure in the different context of accounting and auditing practices.

Details

Asian Review of Accounting, vol. 27 no. 3
Type: Research Article
ISSN: 1321-7348

Keywords

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Article
Publication date: 14 November 2016

Neerav Nagar and Mehul Raithatha

The purpose of this paper is to examine whether firm-level corporate governance measures and regulatory reforms constrain manipulation of operating cash flows, an…

Abstract

Purpose

The purpose of this paper is to examine whether firm-level corporate governance measures and regulatory reforms constrain manipulation of operating cash flows, an important firm performance indicator.

Design/methodology/approach

The sample comprises firms from an emerging market, India, with data from 2005 to 2011. The authors use the methodology given in the paper by Lee (2012) and multiple regressions.

Findings

The authors find that cash flow manipulation is likely to increase with an increase in the controlling ownership. Furthermore, board diligence and better audit fail to curb such manipulation. However, the authors do find that such manipulation has gone down in the recent years, and diligent boards constrain it, possibly due to the recent steps taken by the Indian Government for improving the corporate governance environment in India.

Practical implications

The findings can act as feedback for the regulators and policy makers. Potential investors and analysts may also benefit from the study, since they can be more vigilant about the firms’ cash flow manipulation practices and can demand better governance.

Originality/value

The findings suggest that good corporate governance makes managers substitute earnings management with cash flow manipulation.

Details

Managerial Finance, vol. 42 no. 11
Type: Research Article
ISSN: 0307-4358

Keywords

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Article
Publication date: 3 September 2020

Chee Yoong Liew and S. Susela Devi

This paper examines the relationship between the number of domestic banks that the firm engages with and firm value and how this relationship is moderated by ownership…

Abstract

Purpose

This paper examines the relationship between the number of domestic banks that the firm engages with and firm value and how this relationship is moderated by ownership concentration at low and very high level on a sample of Malaysian family and non-family firms.

Design/methodology/approach

For hypotheses testing, panel data analysis using the fixed effects model (FEM) is used because the FEM can address any endogeneity problems effectively (Chi, 2005). The panel data regression is conducted on both family firms and non-family firms.

Findings

We find that there is a significant negative relationship between the number of domestic banks engaged by family firms, operating in industries where these firms do not have absolute monopoly, and firm value. However, there is no evidence that this significant negative firm value effect is stronger in family firms compared to non-family firms. Furthermore, the significant positive moderating effect of ownership concentration on this relationship within family firms in such industries is evident only at low level of ownership concentration. Interestingly, at very high level of ownership concentration, this significant positive moderating effect becomes negative. There is no evidence that these significant moderating effects are stronger in family firms compared to non-family firms.

Research limitations/implications

This research has focused only on family and non-family firms.

Practical implications

An implication of this research is that there is a need for the capital market regulators to introduce appropriate policies to deter family firms from having a close relationship with domestic banks as well as monitor the number of domestic banks engaged by such firms. There may be policy implications for consideration by the Central Bank of Malaysia as well.

Originality/value

This research provides some insights to both academia and industry regarding the consequences of domestic banking relationship and different levels of concentrated ownership in family firms in an emerging market. These insights can help improve the corporate governance as well as ownership structure of Malaysian public-listed family firms which dominate the capital market. Our findings refute the argument by Peng and Jiang (2010) by demonstrating that corporate reputational effects may be a substitute for institutional deficiencies.

Details

Journal of Family Business Management, vol. 11 no. 1
Type: Research Article
ISSN: 2043-6238

Keywords

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