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Manuscript type: Research paper Research aims: This study explores the main issues faced by exter... more Manuscript type: Research paper
Research aims: This study explores the main issues faced by external
auditors in Jordan when auditing fair value estimates, and examines
the reasons causing these issues, and their effects on the conduct
of auditing.
Design/Methodology/ Approach: This study employs a qualitative
approach, using semi-structured interviews with a sample
comprising of experienced Jordanian auditors from the Big Four
audit firms, other internationally-affiliated audit firms, and local
Jordanian audit firms.
Research findings: The findings of this study show that fair value
estimates have been aggressively used by some companies to
overvalue their assets, especially in the areas of asset impairment
and business combinations. Factors facilitating this include the lack
of reliable fair value information and the weak corporate governance
system. Auditors face extensive pressure from clients to accept
questionable fair value estimates in an environment of low demand
for high-quality audits, low audit fees, and the fear of losing clients.
Auditors are also under the pressure of regulatory authorities to
improve the quality of their work.
Theoretical contributions/ Originality: The auditing of fair value
estimates is an empirically under-researched area in developing
countries. The introduction of International Financial Reporting
that an estimate of fair value has to be reported when needed,
regardless of the level of available information or market activity.
Conducting a study in a developing country with an environment
that is characterised by inactive markets, limited available
information on fair values, and low demand for high-quality audits,
can further contribute to knowledge on how fair value estimates
are audited under different circumstances to those of developed
countries.
Practitioner/ Policy implications: The findings of this study show
that there is a need for regulatory authorities to put in more efforts to
scrutinise the behaviour of auditors and audit clients when dealing
with fair value estimates. The regulatory authorities also need to
improve the conditions auditors face when auditing these estimates.
Such improvements could include increasing the monitoring of fair
value specialist evaluators, revising audit fee levels, and revising
corporate governance regulations.
Research limitations/ Implications: This study focuses on the
Jordanian environment. By expanding the research to other
developing countries, and by focusing in detail on some of the
issues studied in developed countries (such as how auditors
assess management’s assumptions regarding fair value estimates,
and how they develop their own independent estimates), a better
understanding of these issues in the developing country contexts
can be gained, benefitting the audit profession and contributing to
literature at the same time.

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Manuscript type: Research paper Research aims: This research tests the contracting efficiency of ... more Manuscript type: Research paper Research aims: This research tests the contracting efficiency of conservatism by investigating the relationship between conditional conservatism and the reactions of equity investors on management earnings forecast disclosures. Design / Methodology / Approach: The tests were conducted on firms listed in Thailand. Conditional conservatism was measured by using Khan and Watts' (2009) model. The cumulative market-adjusted abnormal returns approach was used to measure market reactions to management earnings forecast disclosures. Research findings: Findings show that conditional conservatism is positively associated with cumulative excess returns around earnings forecasts release dates. This suggests that conditional conservatism mitigates information asymmetry by committing managers into disclosing credible earnings forecast information. This leads to positive reactions by equity investors. 74 Theoretical contributions / Originality: This paper fulfills an identified need in studying how conservatism enhances the value of voluntary disclosure information and how it influences market reactions to management earnings forecast disclosures. Practitioner / Policy implications: This paper includes implications for the development of disclosure rules for Thai firms and for the improvement of the prudence approach in the conceptual accounting framework.

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Manuscript type: Research paper Research aims: This paper examines the effects of firm's financia... more Manuscript type: Research paper Research aims: This paper examines the effects of firm's financial, macroeconomic, and human resource variables in determining the capital structure decisions of firms in the industrial and consumer sectors of China. It also examines the differences between the total debt and long term debt of these two sectors. Design/ Methodology/ Approach: This study analyses data from Chinese A-share firms of the consumer and industrial sectors listed in the Shanghai and Shenzen stock market exchange from the year 2008 to 2013. Dynamic panel data and the system Generalized Method of the Moments (system GMM) were employed to examine the speed of adjustment and the relationship between firm's financial, macroeconomic, and human resource variables with two proxies of capital structure namely: total debt and long term debt. Research findings: The results indicate that the adjustment speed of capital structure decision, for both the total debt and long term debt are faster in consumer firms than they are in industrial firms. The long term debt of industrial firms is insignificantly influenced by the firm's financial variables except for firm's size. In consumer firms, it is noted that firm's financial variables play an important role in explaining the leverage variations. The results also indicate that macroeconomic factors are not significant determinants of capital 2 structure decisions, especially for industrial firms. In addition, employment size and employment in industry have significant positive impact on total debt in consumer firms while employment size and employment productivity have a negative influence on the long term debt in industrial firms. Lastly, there is a significant difference between consumer firms and industrial firms, in term of the type of debt they carry. Theoretical contributions/ Originality: This study expands on previous work done on indirect effects of sectorial and industry level factors on the relationship between leverage and firm's specific determinants of capital structure, in developing economies. It extends the applicability of capital structure theories that are highly dependent on the types of leverage despite sector behavioural issues. Practitioner/ Policy implications: This paper provides insights on the variables which explain the level and types of leverage of Chinese firms in both the consumer and industrial sectors. Research limitations/ Implications: Future studies should consider other proxies for capital structures such as market value of total, long and short term debts. Future studies should also investigate firms in other sectors.

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Manuscript type: Research paper Research aims: The purpose of this study is to ascertain the effe... more Manuscript type: Research paper Research aims: The purpose of this study is to ascertain the effects of valuable resources on two factors: the competency to reduce clients' transaction costs and the performance of export intermediaries. The impact of intermediaries' competency to reduce clients' transaction costs on performance is also investigated while the moderating effect of intermediaries' learning orientation on resources, competency to reduce clients' transaction costs, and performance is further examined. Design/ Methodology/ Approach: A postal survey of 400 export intermediary firms was conducted. Samples were accessed from the official database of the Department of Export Promotion, the Ministry of Commerce, Thailand. Ordinary least square (OLS) regression analysis was employed to test the hypotheses of the study. Research findings: Based on the three theoretical framework of transaction cost theory, agency cost theory and resource-based theory, results show that resources positively affect both intermediaries' competency to reduce clients' transaction costs and performance. It is also noted that intermediaries' competency to reduce clients' transaction costs positively impact on performance. In addition, no moderating effect of learning orientation is found. Theoretical contributions/ Originality: This study is an original attempt to examine the moderating effect of learning orientation on three factors: the relationship among resources, the competency to reduce clients' transaction costs, and performance. Practitioner/ Policy implications: The results show export intermediaries' resources and competencies improve their performance. This will indirectly facilitate export promotion efforts. Research limitations/ Implications: This study surveyed the export intermediary firms in Thailand. Future research may be conducted on a larger scale by focusing on other ASEAN countries as well as survey the performance of firms using export intermediaries.

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Manuscript type: Research Paper Research aims: Online product recommendations (OPRs) provide vari... more Manuscript type: Research Paper Research aims: Online product recommendations (OPRs) provide various benefits for customers in evaluating and selecting a product. A relatively low OPRs usage rate indicates that customers are not satisfied with the performance of the OPRs. This study, therefore, aims to examine the role of instrumental beliefs (i.e. perceived ease of use and usefulness) and social-psychological belief (i.e. perceived confirmation) in predicting and explaining customer satisfaction with the OPRs. Design/ Methodology/ Approach: A hypotheses-deductive approach is employed. The research model is tested by analysing the data of 626 existing users of OPRs which were collected via an online survey. Research findings: Results suggest that instrumental and social-psychological beliefs are significant contributors to customer satisfaction with OPRs. Additionally, customer expectation-confirmation also positively influences perceived ease of use and OPRs usefulness. Theoretical contribution/ Originality: No prior study has examined the role of instrumental beliefs (i.e. perceived ease of use and usefulness) and social-psychological belief (i.e. perceived confirmation) in predicting customer satisfaction with the OPRs. This study has successfully tested the relationships which are likely to ensure a stable theory development. Practitioner/ Policy implications: Since majority of the respondents were from western countries, the findings would be useful to e-retailers in Asia who are targeting or intending to penetrate the global market, in particular, Amazon customers. Practitioners should adopt a twofold strategy: (a) to inform new customers about the potential benefits of OPRs in terms of its ease of use and usefulness; and (b) to educate old customers on how to use OPRs effectively so as to maximise expectation-confirmation and satisfaction. Research limitations/ Implications: This study employs a cross-sectional design rather than a longitudinal design. However, given that the objective of this study is to examine the impact of instrumental and social-psychological beliefs on customer satisfaction, a cross-sectional design is deemed more suitable. The outcome of this study suggests that cultural differences need to be considered when e-retailers are thinking of making such implications on Asian online customers as majority of the respondents in the current study were from non-Asian countries.

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Manuscript type: Research paper Research aims: This study aims to investigate the influence of co... more Manuscript type: Research paper Research aims: This study aims to investigate the influence of corporate governance practices and ownership structure on the credit ratings of listed firms in Indonesia. Design / Methodology / Approach: This study empirically employs the ordered logit model and a corporate governance measure that is based on OECD corporate governance principles. Research findings: This study finds that corporate governance practices reduce agency problems between creditors and shareholders. This is reflected by their positive impact on firm credit ratings. The results of the tests further show that credit ratings are affected positively by share ownership held by blockholders. Thus, higher concentrated ownership provides oversight functions which could lead to higher debt ratings. However, when blockholders are from families, the possibility of expropriation increases and this, in turn, reduces debt ratings. Theoretical contributions / Originality: This study examines the effect of a comprehensive measure of corporate governance practices and families as blockholders on firms' credit ratings. Practitioner / Policy implications: Firms need to improve their corporate governance practices in order to facilitate the issuance of long term debt at lower yield.

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It is our pleasure to present the first issue of Volume 9 of the Asian Journal of Business and Ac... more It is our pleasure to present the first issue of Volume 9 of the Asian Journal of Business and Accounting (AJBA). In this issue of AJBA, we have selected six papers for publication; all but one were the results of funded research. Four of the papers were authored by international scholars from emerging countries in Asia namely Thailand, Indonesia and Bangladesh, and two papers were authored by researchers from Malaysia. The first paper by Thanatawee examines the impact of open market share repurchases on stock liquidity of listed companies in Thailand over a period of 13 years, from 2002 to 2014. His research reveals that repurchasing shares can help increase stock liquidity but aggressive repurchasing over a short period of time has the contrary effect. This is consistent with the information asymmetry hypothesis which posits that managers are better informed thus, could use inside information to trade against outsiders, a governance issue. In the second paper, Wong and Hooy investigate the impact of elections in Indonesia, Malaysia and Thailand on stock market returns of government-owned banks from 2000 to 2013. Using event study methodology to capture the effect of short-horizon, the findings indicate that after elections, stock return rises more for government-owned banks as compared to non-government owned banks. This suggests that government-owned banks are reliant on their owners. Interestingly, this paper finds that the significance of government ownership on stock return, immediately after election, is highest in Malaysia followed by Thailand and Indonesia. The findings contribute to the extant literature on the political connections of financial firms where undertaken research is limited. The theme of governance is continued by papers written by Ahmed and Naima; Togok, Isa, and Zainuddin; and Utami and Nahartyo. One of the aims of good governance is to mitigate fraudulent financial reporting and opportunistic earnings management. In Ahmed and Naima, the Beneish Model (1999) was employed to identify the signs of earnings manipulation among firms in Bangladesh. Their findings suggest that the dominating indicative ratios relate to inflated revenues, capitalising expenses and overstating intangibles.

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In recent years, open market share repurchases have become a principal method for firms to return... more In recent years, open market share repurchases have become a principal method for firms to return cash to shareholders. Grullon and Michaely (2004) document that in the United States (the U.S.), the value of share repurchases has surpassed that of dividends since 1999. Open market share repurchases have also been gaining popularity outside the U.S. as is evidenced by a number of studies related to stock repurchases reported in finance literature (for example, Ikenberry, Lakonishok, & Vermaelen, 2000, for Canada; Brockman & Chung, 2001, for Hong Kong; Rau & Vermaelen, 2002, for the U.K.; Ginglinger & Hamon, 2007, for France; De Cesari, Espenlaub, & Khurshed, 2011, for Italy; Isa, Ghani, & Lee, 2011, for Malaysia; and Wang, Lin, Fung, & Chen, 2013, for Taiwan).
Although these studies have examined the effect of open market stock repurchases on stock price, assessment of the impact of open market share repurchases on liquidity has received little attention despite its practical importance. Indeed, the results drawn from financial executive surveys and interviews as indicated by Brav, Graham, Campbell, and Michaely (2005) reveal that managers are concerned about the impact of share repurchases on liquidity. In other words, the share repurchases would not be executed if doing so reduces stock liquidity below critical level, which, in turns, has a negative consequence on stock price.
Previous studies examining the liquidity impact of share repurchases have, to date, provided mixed results. Wiggins (1994), Singh, Zaman, and Krishnamurti (1994), Franz, Rao, and Tripathy (1995), Cook, Krigman, and Leach (2004), and De Cesari et al. (2011) find that share repurchases help enhance liquidity. However, Barclay and Smith (1988), Brockman and Chung (2001), and Ginglinger and Hamon (2007) document a negative impact of share repurchases on liquidity. Other researchers like Miller and McConnell (1995) and Kim (2005), nevertheless, find no significant change in liquidity as a result of open market share repurchases. This, therefore, raises the question whether or not share repurchases increase or decrease liquidity.
The main objective of this study is to provide additional evidence on the impact of actual share repurchases on liquidity in transactions conducted by Thai listed firms over the period of thirteen years from 2002 to 2014. The justifications of focussing on Thailand are as follows. Firstly, the Thai capital market is dramatically different from that of the U.S. and most developed markets. Thailand is a younger, smaller, less sophisticated country and its stock market is seen to be more volatile and substantially less liquid. Rhee and Wang (2009) indicate that the lack of liquidity is a key determinant for high volatility in emerging markets and can impede stock market development. Further, investors tend to consider liquidity as a critical factor when making investment in emerging markets because their returns can be substantially reduced after accounting for liquidity cost (Bekaert, Harvey, & Lundblad, 2007; Agudelo, 2010). Despite the importance of stock liquidity for emerging markets such as Thailand, little investigation into such topic has been undertaken.
Secondly, research about share repurchases in Thailand remains underexplored although listed firms in Thailand have been allowed to buy back their own shares since July 2001. Only a few studies seem to focus on such issue. Vithessonthi (2007) was the first to document the positive abnormal stock returns associated with open market share repurchase announcements in Thailand. Vithessonthi (2008) subsequently finds some evidence of the long-run abnormal returns but no significant change in the operating performance following stock repurchase announcements. Surveying executives of 64 repurchasing firms in Thailand from July 2001 to December 2009, Tabtieng (2013) reports that the main objectives of managers for implementing open market share repurchase programmes are to buy back undervalued shares and to increase earnings per share.
Thirdly, compared to most developing countries, Thailand has a better disclosure environment of share repurchases. This makes it a very suitable setting for researchers to investigate the effect of actual share repurchases on liquidity with higher precision. Prior studies examining liquidity impact of open market share repurchases in developed countries, especially the U.S., have been hindered by data disclosure regulations. Before 2004, the U.S. companies were only required to report the details of their repurchase activities on a quarterly basis. Since 2004, they have been required to disclose the total number of shares repurchased and the average repurchase price for the previous fiscal quarter on a monthly basis but are not obliged to provide the information about trading dates. Therefore, the disclosure environment of share repurchases in the U.S. still makes it difficult to accurately examine the liquidity impact of actual share repurchases. In the case of Thailand, a repurchasing firm is required to report the volume and value of shares repurchased. It is also mandated to report the price data on a daily basis by the start of the following business day, thus providing timely information and more details of actual share repurchases.
This paper contributes to existing finance literature in the following ways. Firstly, this paper relates to two important areas of finance literature - corporate finance and market microstructure. Specifically, this paper shows that actual share repurchases have a significant impact on liquidity. Secondly, the findings of this paper can shed some light on the long debate regarding the impact of share repurchases on liquidity by showing that the relationship between share repurchases and liquidity is non-linear. In particular, the evidence indicates that repurchasing shares is beneficial to liquidity when executed at low level of share repurchases. In contrast, it may be detrimental to liquidity at high level of share repurchases. Thirdly, much of previous works done on the impact of share repurchases on liquidity have been carried out using data drawn from developed markets while data from emerging markets have rarely been investigated. This study thus addresses such scarcity by providing empirical evidence on the impact of share repurchases on liquidity in an emerging economy, namely, Thailand.
The remainder of this paper is organised as follows. Section 2 describes the regulatory and disclosure requirements of share repurchases in Thailand. Section 3 reviews related literature and formulates the hypotheses of this study. Section 4 presents the data description, research methodology, and definitions of variables. Section 5 reports the empirical results. Section 6 concludes the paper.

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1. Introduction In the United States, banks have little or no government ownership (Shen & Lin, 2... more 1. Introduction
In the United States, banks have little or no government ownership (Shen & Lin, 2012; Andrianova, Demetriades, & Shortland, 2012). However, in emerging countries, especially Southeast Asian countries like Indonesia, Malaysia and Thailand, both private and government-owned banks co-exist but the latter is more common. In these countries, governmentowned banks are one of the drivers of economic policy because they provide loans and financial support to industries which are supported by the government. These industries are usually those not considered profitable enough to be given loans by private banks. Studies show that the high growth rate of Indonesia, Malaysia and Thailand in the mid-1990s, before the financial liberalisation (Booth, 2014) was mainly supported by local banks which were largely owned or controlled by local governments (Goldstein, 1998). In the decade preceding 19971998, a period that marks the Asian Financial Crisis (AFC), the financial markets of Indonesia, Malaysia and Thailand had grown rapidly. Table 1 shows that in 2012, the banking industry had contributed 17 per cent, 14 per cent and 5 per cent respectively to stock market capitalisation in Malaysia, Thailand and Indonesia. Government-owned banks in Indonesia and Malaysia accounted for 72 per cent and 71 per cent of the total listed bank capitalisation in their respective countries while in Thailand, the Thai government held 34 per cent of the country’s total bank capitalisation. These statistics show that government-owned banks have a large influence in steering the national economy of their countries.
According to Sapienza (2004), there are three theories namely the social theory, political theory and agency theory which could explain the role of government ownership in banks. The social theory takes the
Table 1: The Relative Size of Government-Owned Banks in Indonesia,
Malaysia and Thailand view (Atkinson & Stiglitz, 1980) that government-owned banks help to reduce poverty, finance socially valuable (but financially unprofitable) projects, maintain the safety and soundness of the banking system, promote financial development, reduce income inequality (Beck, Demirgüç-Kunt, & Levine, 2007) and fund projects that help push for economic development (Dinc, 2005). The political theory suggests that government-owned banks act as a mechanism that is used by individual politicians to pursue their individual goals such as maximising employment or financing favoured enterprises (Shleifer & Vishny, 1994). The agency theory advocates that government-owned banks may be created to maximise social welfare and it may be exploited to generate corruption and misallocation (Banerjee, 1997; Hart, Shleifer, & Vishny, 1997).
In Indonesia, during the Suharto regime, political connections act as a determinant in a firm’s access to finance (Borsuk, 1993; McBeth, 1994; Fisman, 2001). Many firms that were connected to Suharto preferred not to enter the international capital market as the benefits of international financing then were small compared to the benefits received from their local political connections (Leuz & Oberholzer-Gee, 2005). The Suharto regime was said to provide preferential financing for well-connected firms (so-called ‘‘memo-lending’’). For example, in the early 1990s, a lesser-known chemical and manufacturing group, Golden Key, had received an unsecured loan of USD430 million from the governmentowned bank, Bank Pembangunan Indonesia. It was subsequently disclosed that the youngest son of President Suharto, Hutomo Mandala Putra, was an early investor in Golden Key and it was he who had introduced the firm to bank officials who then approved the loan at ‘‘neck-breaking speed’’ (McBeth, 1994).
In Malaysia, works done by Gomez and Jomo (1999) identify the existence of important relationships between politicians and firms. Using the list provided by Gomez and Jomo (1999), Johnson and Mitton (2003) find that politically-connected firms had poorer stock returns at the beginning of the Asian Financial Crisis (AFC). However, as soon as capital controls were implemented by the government, politicallyconnected firms did better on average, proving that the implementation of capital market greatly benefitted the connected firms.
In Thailand, ten families control about half of the corporate assets in the country (Claessens, Djankov, & Lang, 1999). These families remained dominant in the industry as a result of the advantages they had obtained from the government. They held monopoly power in the local market; they held special exporting or importing rights; they would win hefty government contracts and they were also protected from foreign competition. It appears that cronyism, unlikely to be a minor influential factor, contributed to the AFC in Thailand. Cronyism, in Claessens et al.’s (1999) term, has been a permanent feature of Thailand in the last few decades.
As mentioned by Nys, Tarazi, and Trinugroho (2015, p. 83), “while political connections of non-financial firms are well-documented in literature, the impact of political connections on banks is less studied”. This gap paves the need to further explore the subject of political connections and banks. To the best of the researchers’ knowledge, past literatures investigating the role of politicians in the banking industry focused on comparing profitability (Molyneux & Thornton, 1992), lending behaviour (Dinc, 2005) and risk-taking (Braun & Raddatz, 2010) patterns of government-owned banks with other banks. (For ease of reference, non government-owned banks are referred to as “private banks” in this paper.) According to Shen and Lin (2012), political influence in the banking industry is highly relevant during election years and election is often used as the proxy for political influence in firms (Brown & Dinc, 2005; Dinc, 2005; Khwaja & Mian, 2005; Leuz & Oberholzer-Gee, 2005). Elections, in particular, might tempt politicians who are in control to use government-owned banks for political purposes (Dinc, 2005). This might cause government-owned banks to behave differently around election periods unlike private banks with no such connections. While past studies usually use regression analysis to measure the effect of political connection on banks in a long horizon, their effect in the short-horizon has not been well-researched. To fill in this gap, this study uses the event study methodology to investigate the variation between the cumulative average abnormal returns (CAAR) of government-owned banks and private banks during election periods in three countries: Indonesia, Malaysia and Thailand.
The organisation of this paper is arranged as follows. Section 2 presents the literature review. Section 3 explains the data and methodology. Section 4 provides the descriptive statistics. Section 5 reports and discusses the empirical results. Section 6 is the conclusion.

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Manuscript type: Research paper Research aims: This empirical work is to investigate the signs of... more Manuscript type: Research paper Research aims: This empirical work is to investigate the signs of manipulation of earnings in non-financial firms in Bangladesh. Design/ Methodology/ Approach: The financial data of 102 publicly listed and non-financial firms from the years 2010 to 2013 were collected. Using the Beneish model (1999) as an approach, data were analysed so as to obtain the M-Scores of these firms. Based on the M-Scores, they were then classified into two groups: likely manipulator firms and non-likely manipulator firms. An independent t-test was used to detect the signs of manipulation. Research findings: The outcome of the M-Scores reveals that the proportion of likely manipulator firms had declined over the years. The result of the independent t-test shows that inflating revenues, capitalising expenses, and overstating intangibles could serve as signals of earnings manipulation in firms in Bangladesh. Theoretical contribution/ Originality: The work of this study contributes to current literature through the identification of the signs of manipulation that is detected by the independent t-test. The results can thus help the country to distinguish between likely manipulator and non-likely manipulator firms. Practitioner/ Policy implications: The findings of this study can be used by investors for better investment decision-making. Based on the findings, it appears that regulators should ensure a more stringent monitoring policy on firms so as to decrease the likelihood of manipulation. Research implications/ Limitations: This study only highlights the pattern of the manipulation of earnings in non-financial firms in Bangladesh. Further studies need to be conducted in order to detect the effect of changes in government regulations on manipulation of earnings in Bangladesh.

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Manuscript type: Research paper Research aims: This paper aims to identify Malaysian companies th... more Manuscript type: Research paper Research aims: This paper aims to identify Malaysian companies that had adopted Enterprise Risk Management (ERM) and to determine the intensity of risk disclosure practised before and after the implementation of the 2013 Bursa Malaysia Guidelines on Risk Management and Internal Control. Design/ Methodology/ Approach: This study used a dual approach of content analysis followed by an online survey. In the first phase, content analysis was performed on the annual reports of 754 Malaysian public listed companies by using the common terms used in ERM. In the second phase, an online survey was circulated among 330 ERM adopters which were identified from the content analysis approach. Research findings: Findings from the content analysis show that the overall level of risk disclosure before and after the current guidelines had increased by five (5) per cent. Findings from the online survey further suggest that 53 per cent of respondents confirmed that ERM is indeed an integral part of their organisation. Theoretical contributions/ Originality: This study seeks to broaden current literature on risk disclosure by investigating the regulatory impact on disclosure practices. The second contribution lies in the use of dual approaches to data collection: content analysis and online survey, both of which enhance the accuracy of findings without adversely impacting on its generalisability and the costs of conducting this research. Practitioner/ Policy implications: The findings of the current study reflect on the true ERM adoption rate in this part of the region which is useful to practitioners who are still skeptical of ERM. Knowing that more than half of the public listed companies have implemented ERM may be the motivation for the non-adopters to implement ERM. Moreover, findings will encourage policy makers to introduce voluntary guidelines to regulate ERM implementation and disclosure practices in Malaysia. Research limitations/ Implications: The use of keyword search to identify ERM adopters bears the conflict of substance over form, particularly when the common terms in the disclosure do not reflect the actual practices. Future research may need to address the conflicts by using a score method that can help to improve the scientific aspects of the methodology. A framework for the analysis of risk communication and an index to measure the quality of risk disclosure can further enhance the instrument.

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Manuscript type: Research paper Research aims: This paper examines the impact of interactive revi... more Manuscript type: Research paper Research aims: This paper examines the impact of interactive reviews and the effectiveness of group support system (GSS) in mitigating information ambiguity in audit decisions. Design/ Methodology/ Approach: The research employed a laboratory experiment, with 74 students serving as subjects. In this study, the following information ambiguity were manipulated: (1) insufficient and complex data, (2) sufficient and complex data, or (3) sufficient and non-complex data. The decision-making process (individually and through GSS interaction) was also manipulated. In this research, audit decisions made of the client's internal control system served as the dependent variable. Research findings: Analysis shows that ambiguity level has a negative effect on the accuracy of audit decisions. The empirical evidence acquired suggests that GSS-based interactive review increases the accuracy of audit decisions. It further shows that the GSS-based interactive review can be effective and practical as a strategy to mitigate information ambiguity in the audit decision making process during the planning stage. Theoretical contribution/ Originality: By investigating the benefits of information technology as a control mechanism for the auditing process and by looking at how it alters auditors' behaviour and how it enables the auditing team to behave in reviewing their work, this study contributes to extant literature. This research fills in the theoretical gap by using GSS to mitigate the ambiguity of information. Practitioner/ Policy implication: The result of this study will encourage auditor to use GSS as a means of communication between the audit team leader and members. Research limitation/ Implications: The limitation of this study lies in its using a single leader and not other members of the audit team to do the GSS in the experimental manipulation.

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Manuscript type: Research paper Research aims: The purpose of this study is to develop a causal m... more Manuscript type: Research paper Research aims: The purpose of this study is to develop a causal model for intention to purchase traceable meat by positing perceived information asymmetry as the primary antecedent. Design/ Methodology/ Approach: A survey of 450 Thai participants was conducted. Data were analysed with structural equation modeling (SEM). Research findings: Results reveal that perceived information asymmetry together with perceived informativeness, subjective norm and perceived usefulness are significant determinants of consumers' intention to purchase traceable meat. Results also show that the mechanism involving the two information-related constructs (perceived information asymmetry and perceived informativeness) are linked in this set of relationship where perceived information asymmetry acts as the primary motivation. Theoretical contributions/ Originality: This research is the first to propose that perceived information asymmetry and perceived informativeness can be incorporated into the technology acceptance model (TAM) and the theory of reasoned action (TRA). Practitioner/ Policy implications: Based on the study results, marketers can design appropriate marketing plans so as to communicate the benefits of the traceability system.

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Pakistan is signatory to the 'Convention on the Right of Person with Disabilities' which reiterat... more Pakistan is signatory to the 'Convention on the Right of Person with Disabilities' which reiterates upon equal right of information accessibility. This exploratory study is aimed to investigate the actual situation of information accessibility for students with disabilities (SWDs) in Lahore city of Pakistan. It involves qualitative data gathering techniques using interviews involving six SWDs and reality verifying observations of their school and college library services. Findings indicate that: (a) SWDs rely on only family members and teachers for support in accessing information; (b) both schools and colleges' library services hardly provide required information services to the SWDs. Desired steps have been recommended to enhance information accessibility for SWDs. It is recommended that SWDs be provided with a library is located at accessible places, and equipped with trained staff, as well as reading materials in suitable alternative formats. This study is an effort for generating awareness among all stakeholders providing SWDs for equal information accessibility, such as the government, non-governmental organizations, educational institutions and Library and Information Science (LIS) professionals not only in Pakistan but also in other South Asia countries experiencing similar conditions of equality issues in information services.

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The paper provides the results of the first phase of the research project Trust and Authority in ... more The paper provides the results of the first phase of the research project Trust and Authority in Scholarly Communications: The Periphery of World Scholarship in the Digital Era conducted in Malaysia. The objective of the study is to examine the changing behaviours and attitudes of academic researchers in today's scholarly digital environment, with respect to how they determine authority and trustworthiness in the sources they use, cite, and publish in. This phase utilised focus groups to address the research objective. Five focus groups were held during the period of December 2013 to April 2014 in three universities in Kuala Lumpur. In all a total of 48 researchers attended the focus groups, comprising 21 scientists and 27 social scientists. Findings indicate that peer-reviewed journals are still the central to the authors, however they seem to have more freedom in relation to journals they read and cite, compared to publish. Overall, authors view that scholarly resources that are current, relevant, authored by credential scholars, peer-reviewed, having credible reference lists, published by reputable journals, and having online presence are fit for scholarly utilisation. The extent to which authors are prepared to believe that the scholarly information source and channel are trustworthy for publication rely on it in view of its impact, indexation status, reputation, peers' recommendation, accessibility and visibility, and authority's approval. New forms of communication channels such as social media or new journal models are not much used in formal scholarly communication. The focus groups provided the direction for questionnaires and interviews that would follow.The paper also discusses the implication of the findings to academic librarians towards delivering the right services to meet the needs of the scholarly community.

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The main objective of this study was to explore scholarly communication trends in the field of in... more The main objective of this study was to explore scholarly communication trends in the field of information literacy. A total of 1989 records from Scopus bibliographic database, published from 2003 to 2012, were analyzed. The Scopus database was preferred over the Web of Science as it provided considerably more hits for the phrase 'information literacy'. Other possible synonyms for the concept of information literacy were ignored to minimize the retrieval of irrelevant documents. MS Excel as well as specific Scopus analytical tools were used for data analysis. Some areas covered in the data analysis included: annual growth in information literacy publications, preferred journals for publishing information literacy articles, most prolific authors, top countries producing information literacy literature, and publication distribution by subject. It was found that the number of information literacy publications have increased steadily during the last ten years. It was also revealed that a majority of information literacy publication were written by authors from North America and the United Kingdom.

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Business intelligence (BI) has been widely employed to manage and refine vast stocks of data. How... more Business intelligence (BI) has been widely employed to manage and refine vast stocks of data. However, to date, very little attention has been paid to personality traits on different BI usage patterns. The purpose of this study is to investigate the effects of personality traits on BI usage intentions. The Bagozzi, Dholakia and Basuroy (BDB) model and a personality framework are used in this study. By collecting data of 354 managers from China and Taiwan, we empirically examine the proposed model. The results show that conscientiousness and openness to experience are significantly related to the intention to read information and the desire to exchange reports respectively. Additionally, the intention to read information directly or indirectly influences the intention to create reports through the desire to exchange reports. The findings can help organizations select users with suitable traits to boost usage patterns during BI implementation.

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This study aims to fulfil two literature gaps in the person-environment fit theory, in particular... more This study aims to fulfil two literature gaps in the person-environment fit theory, in particular the supply-value fit or S-V fit relating to work congruence. Firstly, previous research in S-V fit tended to look mainly at autonomy and supervision style. However, there appears to be no reported research that has simultaneously investigated, in a single study, the effects of the discrepancy between the perceived and desired levels of work quantity, variety, power, responsibility and concentration required for the job and its relationship with satisfaction at work. Secondly, the S-V fit theory has been relatively established in developed countries such as America and Britain. However, it would be interesting to discover whether the theory is also applicable among workers in small isolated towns in a developing country such as Malaysia. Questionnaires were distributed and collected from two hundred and eighty respondents working in small towns in Peninsular Malaysia. Support for the S-V fit theory was obtained, as results suggested that the greater the discrepancy between the supplies and values of work quantity, variety, power, responsibility and concentration required at work, the lesser was the satisfaction.

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This paper examines the association between Intellectual Capital (IC) and corporate performance o... more This paper examines the association between Intellectual Capital (IC) and corporate performance of technology-intensive companies (MESDAQ) listed on Bursa Malaysia by investigating whether value creation efficiency, as measured by Value Added Intellectual Capital (VAIC TM), can be explained by market valuation, profitability, and productivity. Correlation and regression models were used to examine the relationship between corporate value creation efficiency and firms' market valuation, profitability and productivity. The findings from this study show that technology-intensive companies still depend very much on physical capital efficiency. The study also suggests that individually, each component of the VAIC commands different values compared to the aggregate measure, which implies that investors place different value on the three VAIC components. The results also indicate that physical capital efficiency is the most significant variable related to profitability while human capital efficiency is of great importance in enhancing the productivity of the company. This study concludes that VAIC can explain profitability and productivity but fails to explain market valuation.

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