Azwan Abdul Rashid

IC Disclosures in IPO Prospectuses: Evidence from Malaysia

Purpose- This study aims to investigate the factors influencing the disclosure of intellectual capital (IC) information in the Malaysian initial public offering (IPO) prospectus using multiple regression analysis. Design/methodology/approach- The sample consists of 130 companies in the technology and industrial products sectors of Bursa Malaysia that went through an IPO between 2004 and 2008. Initially, the extent of the IC disclosure index is quantified using content analysis methodology. The multiple regression analysis is then used to examine the associations of nine potential explanatory variables with IC disclosure level. Findings- In general, the results provide evidence that board size, board independence, age, leverage, underwriter and listing board significantly influence the extent of IC disclosure in an IPO prospectus. Nonetheless, the effect of each explanatory variable may vary in each estimated parameter of the multiple regression models. Three variables, board diversity, size and auditor, were not significant. Originality/value- Although many studies have examined the content of and reasons for IC disclosures, this study provides empirical evidence in this specific area, i.e. to explore the determinants of IC disclosure, particularly from the perspective of IPO prospectuses, in emerging countries such as Malaysia.

Green Government Procurement Practices (GGP) in Malaysian Public Enterprises

Abstract Government procurement may contribute significantly to the sustainability of the economy and the environment as it is the biggest purchaser of a country. The government is in a position to influence the demand of environmental friendly products and encouraging the businesses to involve in environmental friendly activities. Green government procurement (GGP) is one of the initiatives introduced to improve sustainability. The objectives of this study are threefold: (1) to examine the practices of GGP in Malaysian public enterprises; (2) to identify for any significant difference in GGP practices between statutory body and non-statutory body or government-linked companies (GLCs); and (3) to examine the barriers in GGP practices. The respondents of the study consist of 274 procurement officers and the data are obtained through self-developed questionnaire. The findings reveal that purchases that consider local suppliers is the most commonly adopted GGP practice by public enterprises. Meanwhile, the least adopted GGP practices isparticipates in the design of products for recycling or reuse. The results also show a significant difference in several GGP practices between statutory body and GLC practices such as purchases from local suppliers;purchases from small suppliers;ensure that suppliers comply with labour laws;reports the procurement policy as relates to sustainable development;and reports the economic, environmental and social criteria that apply to expenditures and financial commitments. Meanwhile, among the barriers that mostly faced by the organisations are; lack of guidance, no enforcement and costlyimplementation of the GGP.

An analysis of intellectual capital disclosure in Malaysian IPO prospectuses

The purpose of this study is to analyze the content of prospectuses and determine the factors influencing IC disclosure of 225 sample companies applied for initial listing on the Bursa Malaysia from 2004 to 2008. The extent of IC disclosure is gauged using content analysis methodology. The findings provide evidence on firms growth, auditor and culture influence on the level of IC disclosure.