The Value Relevance of Transparency and Corporate Governance in Malaysia Before and after the Asian Financial Crisis
Richard Donald Morris
UNSW Australia Business School, School of Accounting
affiliation not provided to SSRN
Sidney J. Gray
University of Sydney
Abacus, Vol. 47, Issue 2, pp. 205-233, 2011
This paper investigates whether the value relevance of financial reporting transparency and corporate governance in Malaysia increased after the Asian financial crisis of 1997. Our sample comprised 94 companies listed on the Kuala Lumpur Stock Exchange in both 1996 and 2001. The disclosure indexes were significantly value relevant for 2001 but not for 1996. Our corporate governance measure was also significantly value relevant for 2001 but not for 1996. Accordingly, it would appear that after the Asian financial crisis, investors have become more sensitized to transparency and corporate governance issues.
Number of Pages in PDF File: 29
Keywords: Asian financial crisis, Corporate governance, Malaysia, Transparency, Value relevance
Date posted: June 6, 2011
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