During the late 1980s, government agencies in many countries began to implement public sector management reforms to improve their efficiency and effectiveness. Many of these reforms were prompted by demands placed on governments for improved uses of public funds. In 2005, the Malaysian...

This paper provides evidence of hedging performance in the crude palm oil market using risk minimisation and the investor's utility function measurement. We use the spot and futures crude palm oil daily prices from the period of January 1996 to August 2008. Using a dynamic model, we estimate...

Using firm-level corporate governance data for 385 IPO (initial public offering) firms that sought to be listed on Bursa Malaysia from 1999 to 2008, this study examines the relationship between board structures and IPO underpricing, a performance indicator unique to the IPO context. The study...

The purpose of this paper is to document and explain the allocation of takeover purchase price to identifiable intangible assets (IIAs), purchased goodwill, and/or target net tangible assets in an accounting environment unconstrained with respect to IIA accounting policy choice. Using a sample...

This study examines the effects of self-efficacy and task complexity on audit judgment performance. Self-efficacy refers to the belief that a person has the capacity to organise and execute the course of action required to produce the desired outcome. The study employs a field experiment...

This study examines the extent of conservatism in publicly listed Indonesian companies prior to and following the Asian financial crisis. This study finds that prior to the crisis, share returns did not lead earnings, and accounting practices in Indonesia failed to utilise accruals for reducing...

The pleasure of obtaining gains and the pain of incurring losses is a powerful motivating factor determining the trading behaviour of investors. The evaluation of gains and losses is dependent on the reference point. The purpose of this research is fourfold. Firstly, we investigate whether daily...

The aim of this paper is to determine the central bank's reaction process. Our estimation of this process uses the extension of structural vector autoregression (SVAR) modelling based on the Svensson (2000) method. The idea that monetary policy is not only concerned with the output gap and...

Degeorge, Patel and Zeckhauser (1999) show that companies willingly manage their earnings with the aim of meeting or exceeding three earnings targets: zero earnings, last period’s earnings, and analysts' earnings forecasts. In this paper, we focus on earnings management designed to...

In this paper, we evaluate alternative price multiples for equity valuation purposes in the Indian context. Data are taken from 145 large companies that satisfy our screening criteria. The sample companies cover 13 prominent sectors, and the study period covers the years 1990–2007. We generate...