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In this paper, we investigate the information content of non-current assets (NCA) among firms listed on the main board of Bursa Malaysia. Specifically, we investigate the…
In this paper, we investigate the information content of non-current assets (NCA) among firms listed on the main board of Bursa Malaysia. Specifically, we investigate the information content of tangible and intangible NCA during the economic crisis period of 1997–1998. Our empirical analysis uses time-varying and fixed effects models for the period 1995–1999. We measure information content based on the association of analysts’ earnings forecasts errors (AFE) with both capitalized tangible and intangible NCA. We find evidence of higher information content in tangible NCA compared to intangible NCA during the Asian economic crisis period of 1997–1998. Our evidence is consistent with the assumption that tangible assets are more reliable compared to intangible assets for prediction of expected cash flows during economic crisis periods.
Zaleha Abdul Shukor is a Senior lecturer in Accounting at the School of Accounting, Universiti kebangsaan Malaysia. She obtained Masters of Commerce from Macquarie Uni, Australia and BSc (Acctg) from Syracuse Univ, NY. She is pursuing her PhD at Universiti Teknologi MARA, Malaysia. Her research interests include, financial reporting and capital market-based research.