Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.14/189518
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- Title
- Does ownership concentration type affect the mapping of earnings quality into value? - Malaysian evidence
- Related
- Journal of business and policy research, Vol. 7, No. 3, (2012), p.24-47
- Related
- http://wbiaus.org/View%20Articles_septemberspecial2012.htm
- Publisher
- World Business Institute Australia
- Date
- 2012
- Author/Creator
- Ismail, Norashikin
- Author/Creator
- Sinnadurai, Philip
- Description
- Using a sample of 185 companies in 2007, this paper investigates whether the mapping of earnings quality into intrinsic value for Malaysian companies differs as a function of ownership concentration type. It is hypothesized that compared with widely-held companies, the positive relation between earnings quality and intrinsic value is stronger (weaker) for companies dominated by the family of the Chief Executive Officer (Government-dominated companies). Intrinsic value was calculated from stock ratings produced by a firm of Malaysian investment consultants. Three measures of earnings quality are used: two approaches from the journal literature and sub-ratings for earnings and dividend stability produced by the firm of consultants. The results support the second hypothesis (Government-related investors) but not the first hypothesis (family-dominated companies). There is reasonable support for the theoretical predictions about the two earnings quality metrics from the journal literature. However, the consultant’s sub-ratings appear to provide a more accurate measure of earnings quality of Malaysian companies.
- Description
- Previously published in the Proceedings of Global Accounting, Finance and Economics Conference (2012), http://www.wbiconpro.com/Melbopurne_accounting2012.htm
- Description
- 24 page(s)
- Resource Type
- journal article
- Organisation
- Macquarie University. Dept. of Accounting and Corporate Governance
- Identifier
- http://hdl.handle.net/1959.14/189518
- Identifier
- ISSN:1449-387X
- Identifier
- mq-rm-2011009168
- Identifier
- mq_res-20121009-153051
- Language
- eng
- Reviewed
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