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The purpose of this paper is primarily to explore the extent of intangible assets and liabilities of large Malaysian companies. The authors also examine whether intangible assets and liabilities of a firm have similar or contrasting roles in firm performance.

Using a direct and straightforward measure of intangible assets and liabilities, the authors examine a large pool of data from large Malaysian companies over a six-year period spanning from 2008 to 2013.

The longitudinal analyses show a significant number of the sample companies, between 34 and 59.33 percent, have a consistent pattern of intangible liabilities. The authors also find firms with intangible liabilities have significantly underperformed financially than a control group of firms. In addition, the authors find that intangible liabilities have significant negative impact on firm performance whereas intangible assets have a contrasting positive impact on firm performance.

One limitation of this study is that the authors have only used a single measure of intangible assets and liabilities. Albeit the measures used are straightforward and more objective, there could be other measures to capture intangibles.

The research findings have several theoretical as well as policy implications. Theoretically, the authors extend the resource-based view to the intangible asset-liability mix, affirming the crucial role of intangible resources in financial performance whilst introducing the unfavorable role of intangible liabilities in corporate financial performance. In terms of policy implications, the research findings provide initial empirical input to emerging calls for broader perspectives of intangibles, beyond intangible assets to include intangible liabilities, and therefore belong to an emerging paradigm toward the nature of intangibles.

This study documents a rare empirical account of the contrasting roles of intangible assets and liabilities in corporate financial performance.

The purpose of this paper is to examine the extent to which demographic factors and corporate ethical value impact on ethical decisions of Malaysian accounting practitioners.

A questionnaire survey was carried out to elicit opinions from accounting practitioners on corporate ethical values and ethical judgements. Regression analysis was performed on 201 completed and useable questionnaires.

The regression analysis shows that corporate ethical value is a significant factor determining ethical judgements. Age is also a significant factor, with older accounting practitioners being stricter in their ethical stance. To a lesser extent, gender is also significant, with females exhibiting higher ethical judgements than males.

The regression model reports an adjusted R-squared of 19.2%, which suggests further work in this area is necessary to identify other determinants for (un)ethical judgements. A qualitative approach such as interviewing corporate players may shed light on other possible factors.

The findings suggest that regulatory efforts have contributed towards a more ethically imbued corporate environment. The Malaysian Code on Corporate Governance (2012), which recommends corporations to have formalized ethical standards and women on corporate boards, appears to have positive influence on creating a more ethical working climate. In addition, the enactment of the Minimum Retirement Age Act (2012) also proves relevant in further promoting ethical judgements.

The study highlights the applicability of the theory of moral development to an Asian developing country, and that gender, age and corporate ethical values are complementary in influencing ethical judgements of accounting practitioners in Malaysia.

The aim of this paper is to examine the relative influence of regulatory enhancements relating to corporate governance and attributes of business traits on performance of Malaysian listed companies.

Regression analysis was performed on all 742 non-financial main board companies listed on Bursa Malaysia using data from 2013 annual reports.

The results show that the number of board meetings held during the year, role separation and board size have a significant impact on corporate performance. By contrast, independent directors, government ownership and director ownership do not influence corporate performance.

The study investigated non-financial companies for the financial year 2013. Hence, the results may not apply to financial companies and other years. Future research can perhaps include all types of listed companies and carry out a longitudinal study to gain more comprehensive results and understanding on the relationship between corporate governance and corporate performance. Additionally, future research could also consider employing a different methodology to further unveil factors influencing corporate performance.

The above findings provide new evidence of the effectiveness of the Malaysian Code on Corporate Governance in improving company performance. The significance of board meetings, role separation and board size shows the importance of internal governance in shaping company processes and hence performance.

The result suggests that although the Malaysian Code on Corporate Governance follows the corporate governance code of developed countries, the applicability of the recommendations to a developing country is evidenced. Companies in Malaysia are predominantly government-owned or closely held, but it appears that role separation matters even in these types of companies in achieving better performance.

Following the introduction of the revised Malaysian Code on Corporate Governance in 2012 (MCCG 2012), this study aims to investigate the influence of corporate governance structure on the quality of sustainability reporting from the perspectives of agency theory and resource dependence theory.

Based on an analysis of 126 firms’ annual reports for the year ended 2010 and 2014, this study analyses sustainability reporting quality before the introduction of MCCG, 2012 (year ended 2010) and after (year ended 2014).

The findings of the study show that there was a significant increase in the quality of sustainability reporting from 2010 to 2014. Results from multiple regression analyses indicate that the number of sustainability-related training attended by the board of directors and the percentage of directors with sustainability-related experience have a significant impact on the quality of sustainability reporting.

Observations from the study provide useful insights into the importance of the appointment of directors with sustainability-related experience as part of the criteria for directors’ appointment. Moreover, the board of directors is encouraged to attend sustainability-related training to help firms improve sustainability practices and reporting.

The increase in the quality of sustainability reporting indicates that companies are committed in ensuring that environmental degradation is put at the minimum level if not eliminated. It appears that companies are embracing the concept of sustainability reporting, and hence, contributing to improving and enhancing social well-being.

This study contributes to the discussion of both internal mechanisms (board independence and board capital) and external mechanisms (compliance to the code on corporate governance) of corporate governance structure on the quality of sustainability reporting. The findings can be used to identify necessary mechanisms that should be enhanced to strengthen the practice of sustainability reporting.

The aim of this study is to investigate the quality of voluntary disclosure practices by Shari'ah compliant companies (ShCCs) in Malaysia. The study also examines factors influencing the quality of voluntary disclosures.

Using a weighted disclosure analyses approach, a self‐constructed disclosure checklist was developed to measure the quality of corporate voluntary disclosures (CVDs). The study examines the annual reports of a sample of 76 ShCCs selected from various sectors listed on Bursa Malaysia in the year 2009.

The results indicate that the quality of voluntary disclosures by ShCCs is in overall low consistent with prior studies that gauged the quality of CVDs in Malaysia. The multivariate regression analyses reveal that board size is significant in explaining the quality of CVDs at the 5 percent significance levels. Company size and leverage as control variables are also significant at the 1 and 10 percent significance levels in determining the quality of CVDs by ShCCs. The reduced regression model further indicates that government ownership is highly significant at the 1 percent significance level in explaining the quality of CVD by ShCCs while leverage is significant at the 5 percent levels.

The low level of corporate disclosures by the ShCCs in Malaysia suggests that these companies require awareness on matters relating to the concepts of accountability and full disclosures in becoming accountable to the community. Hence, the Shari'ah Advisory Council of the Securities Commission Malaysia should provide awareness on matters relating to accountability and transparency which could lead to socio economic justice. The commission may also introduce a detailed reporting guideline for the companies to follow.

This study provides useful insights on the disclosure quality of ShCCs in Malaysia which remained largely unexplored. The study also represents the first empirical investigation toward the association between voluntary disclosures by ShCCs and corporate governance attributes in the Malaysian context.

The purpose of this paper is to investigate whether there has been a change in the level of corporate social responsibility (CSR) disclosure and to determine whether corporate governance attributes influence CSR disclosure in corporate annual reports of Malaysian government‐linked companies (GLCs).

The annual reports of 27 GLCs for two years (2005 and 2007) were analysed using content analysis. Multiple regression analysis was performed to identify factors influencing CSR disclosure in annual reports.

Consistent with expectations, the paired‐sample t‐tests showed that there was an increase (significant at the 1 percent level) in the extent of CSR disclosure. The multiple regression analysis revealed that board size was positively associated and statistically significant (at the 1 percent level) with the extent of CSR disclosure.

The regression model reported an R² of 33.9 percent, which means that almost 66 percent of factors influencing CSR disclosure in Malaysian GLCs have not been captured by the model. These other factors may perhaps be identified through other research methods such as questionnaire surveys or interviews.

The findings appear to suggest that the government efforts in promoting CSR among GLCs through the introduction of the Silver Book in 2006 have had some positive impact on CSR disclosure in annual reports. The results also imply that larger board size through wider exchange of ideas and experience could lead to better appreciation and involvement in corporate social activities and hence disclosure in annual reports.

This paper is one of the few studies to examine CSR disclosure and corporate governance attributes in GLCs after the introduction of new initiatives to promote CSR.

Following the 1997 Asian financial crisis, the Malaysian Government introduced new regulations on corporate governance, recognizing the importance of restoring market confidence. The purpose of this paper is to evaluate the impact of the implementation of these new regulations on corporate performance.

Regression analysis was performed to examine factors influencing corporate performance. Ownership structure was represented by director ownership, foreign ownership and government ownership, and corporate governance was proxied by board size and independence. Corporate performance was measured by Tobin's Q.

Using data from the year 2001 annual reports of 87 non‐financial listed companies included in the composite index, the results showed that none of the corporate governance variables was statistically significant in explaining corporate performance. Nonetheless, two ownership variables, namely the government as a substantial shareholder and foreign ownership, were statistically significantly associated with Tobin's Q.

The regulations on corporate governance were implemented in 2001, perhaps it was too early to analyze results for the financial year 2001 as regulatory changes may take a few years before it could be expected to show positive or intended results.

An implication of this finding is that regulatory efforts initiated after the 1997 financial crisis to enhance corporate transparency and accountability did not appear to result in better corporate performance.

This is one of the few studies which investigates the impact of regulatory actions on corporate governance on corporate performance immediately after its implementation.

The purpose of this paper is to examine the influence of ethics instruction received during tertiary education on ethical judgments of Malaysian accountants.

Data were obtained through questionnaire survey and analyzed using regression analysis.

A total of 221 respondents representing a 88.4 per cent response rate completed the questionnaire. The regression results show that ethics instruction received during tertiary education have a significant impact on both legal and illegal business scenarios. Accountants also judged an illegal questionable scenario stricter than a legal questionable scenario.

The questionnaires were distributed to those firms which participated in the internship programme. Although the firms which participated were of varying sizes, care still needs to be taken in interpreting the results, as representativeness remains an issue in studies of small sample size.

The findings appear to suggest that ethics is an important factor influencing ethical judgments. Hence, the subject should be taught at least at the tertiary level so as to inculcate ethical values early in younger generation. An ethically imbued workforce can be expected to make sound and equitable corporate decisions.

The study offers preliminary insight into the benefit of introducing the business ethics course in the undergraduate accounting programme at public universities in Malaysia.