The Value Relevance of Transparency and Corporate Governance in Malaysia Before and after the Asian Financial Crisis

29 Pages Posted: 6 Jun 2011  

Richard Donald Morris

UNSW Australia Business School, School of Accounting

Tam Pham

affiliation not provided to SSRN

Sidney J. Gray

The University of Sydney

Date Written: June 2011

Abstract

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.

Keywords: Asian financial crisis, Corporate governance, Malaysia, Transparency, Value relevance

Suggested Citation

Morris, Richard Donald and Pham, Tam and Gray, Sidney J., The Value Relevance of Transparency and Corporate Governance in Malaysia Before and after the Asian Financial Crisis (June 2011). Abacus, Vol. 47, Issue 2, pp. 205-233, 2011. Available at SSRN: https://ssrn.com/abstract=1857288 or http://dx.doi.org/10.1111/j.1467-6281.2011.00339.x

Richard Donald Morris (Contact Author)

UNSW Australia Business School, School of Accounting ( email )

Sydney, NSW 2052
Australia

Tam Pham

affiliation not provided to SSRN

Sidney J. Gray

The University of Sydney ( email )

University of Sydney
Sydney, NC NSW 2006
Australia

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