The CMAR and extent of compliance with IFRS 101 standard among Malaysian ace market companies
DOI:
https://doi.org/10.32890/jbma2012.2.2.8673Keywords:
IFRS 101, CMAR, Ace Companies, total disclosure indexAbstract
Malaysia is on the track to achieve full convergence and adoption of the International Financial Reporting Standards (IFRSs) by 2012. This study seeks to find out the extent of compliance with IFRS 101 ‘P resentation of Financial Statements’ before the effective date. Using total disclosure index (TDI), the findings shows that most of Malaysian Ace Market companies have complied with IFRS 101. The present study also indicates that the Cumulative Market Adju sted Return (CMAR) is positive and significant for both partial and full compliance of IFRS 101 among the Malaysian Ace Market companies. Multivariate regression analysis further provides a lack of significant association between CMAR and announcement of e arnings (i.e. EPS). Nevertheless, the percentage of independent directors on the board (BDIND) is found to be a positive and a significant corporate governance variable that associates with CMAR. These findings imply that policy makers and regulators shoul d encourage Ace Market companies to have the most optimal number of independent board of directors for future improvements of CMARMetrics
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Disclaimer
The Journal of Business Management and Accounting (JBMA) has taken all reasonable measures to ensure that material contained in this website is the original work of the author(s). However, the Journal gives no warranty and accepts no responsibility for the accuracy or the completeness of the material; no reliance should be made by any user on the material. The user should check with the authors for confirmation.
Articles published in the Journal of Business Management and Accounting (JBMA) do not represent the views held by the editors and members of the editorial board. Authors are responsible for all aspects of their articles except the editorial screen design.