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Intellectual Capital Performance And Firm Value: The Effect Of Mfrs 139, Abdullah Jihad Rasmi Rabaya, Norman Mohd Saleh, Noradiva Hamzah
Intellectual Capital Performance And Firm Value: The Effect Of Mfrs 139, Abdullah Jihad Rasmi Rabaya, Norman Mohd Saleh, Noradiva Hamzah
The South East Asian Journal of Management
Research Aims: We examine the intellectual capital (IC) performance and its connection with firm value. We also investigate whether the adoption of an enhanced quality standard MFRS 139 that affect recognition and measurement of financial instrument's fair values, moderates the relationship between IC performance and firm value. Design/methodology/approach: We used panel data analysis of listed financial institutions' data for 2005 - 2015 period. Research Findings: A positive association between IC performance and firm value is found, proposing that IC is an important resource for firms. The results also show that MFRS 139 implementation strengthens the relationship between IC performance and …
Industrial Diversification And Shareholders' Value In China: The Case Of Shanghai Listed Manucfaturing Firms, Henk Von Eije, Jiong Jin
Industrial Diversification And Shareholders' Value In China: The Case Of Shanghai Listed Manucfaturing Firms, Henk Von Eije, Jiong Jin
The South East Asian Journal of Management
The fast growing economy and institutional and economic reforms made the Chinese equity markets the third largest in Asia. This leads to strategies of industrial diversification within Chinese firms. Financial theory suggests that industrial diversification may have advantages in emerging markets, because conglomerates are better able to cope with market imperfections than focused firms. Moreover, diversification through investing in many shares may be costly in imperfect markets. Negative effects of diversification can be found if hubris generates too large take-over premiums or if managers consume perks related to company size. Also, tunneling and propping may reduce company value. We show …
Simultaneous Relationship Between Ownership Structure, Corporate Governance, And Firm Value In Indonesia, Kim Sung Suk
Simultaneous Relationship Between Ownership Structure, Corporate Governance, And Firm Value In Indonesia, Kim Sung Suk
The South East Asian Journal of Management
The primary objective of this study is to test the simultaneous relationship between the firm value, the corporate governance practice, and the ownership structure on a sample of 114 companies quoted in the Jakarta Stoke Exchange (JSX). The study finds that the corporate governance practice fails to affect the firm value, but the firm value is a positive predictor of corporate governance practice. Further, the influence of corporate governance practice on the firm value becomes less when the wedge of the firm becomes higher. The ownership structure and the firm value have no systematic relationship. Controlling shareholders and foreign blockholders …