Financial Information Quality And Investment Efficiency: Evidence From Malaysia
This study aims to empirically examine the association between financial information quality and investment efficiency among firms in Malaysia. Sample of this study consists of 558 firms listed on the Main Board of Bursa Malaysia from the year of 2001 until 2011. The investment efficiency is meas...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Asian Academy of Management (AAM)
2016
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| Subjects: | |
| Online Access: | http://eprints.usm.my/37437/1/aamjaf120116_06.pdf |
| _version_ | 1797009830000459776 |
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| author | Ebrahimi Rad, Seyed Sajad Embong, Zaini Mohd Saleh , Norman Jaffar, Romlah |
| author_facet | Ebrahimi Rad, Seyed Sajad Embong, Zaini Mohd Saleh , Norman Jaffar, Romlah |
| author_sort | Ebrahimi Rad, Seyed Sajad |
| collection | USM |
| description | This study aims to empirically examine the association between financial information
quality and investment efficiency among firms in Malaysia. Sample of this study consists
of 558 firms listed on the Main Board of Bursa Malaysia from the year of 2001 until
2011. The investment efficiency is measured based on firms’ deviations from the expected
investment level. The financial information quality is measured based on four different
measurement schemes. The results provide support that financial information quality is
significantly positively related to investment efficiency. The inclusion of several firm level
control variables and use of alternative models to measure investment efficiency provides
consistent findings. The results of this study provide further understanding and empirical
evidence relevant to quality of financial information and investment efficiency. As most of
the extant studies on this association have been done on data from the US and advanced
countries, this study fills the gap in literature by investigating the impact of financial
information quality on investment efficiency in an emerging market. Although emerging
markets make up the vast majority of economic activity around the world, they have
received limited attention in academic research. Findings of this study could be of
interest to the international organisations such as World Bank whose missions are to aid
countries with developing and transitional economy, and improve living conditions of
their citizens. |
| first_indexed | 2024-03-06T15:11:08Z |
| format | Article |
| id | usm.eprints-37437 |
| institution | Universiti Sains Malaysia |
| language | English |
| last_indexed | 2024-03-06T15:11:08Z |
| publishDate | 2016 |
| publisher | Asian Academy of Management (AAM) |
| record_format | dspace |
| spelling | usm.eprints-374372017-11-15T07:32:33Z http://eprints.usm.my/37437/ Financial Information Quality And Investment Efficiency: Evidence From Malaysia Ebrahimi Rad, Seyed Sajad Embong, Zaini Mohd Saleh , Norman Jaffar, Romlah HD28-70 Management. Industrial Management This study aims to empirically examine the association between financial information quality and investment efficiency among firms in Malaysia. Sample of this study consists of 558 firms listed on the Main Board of Bursa Malaysia from the year of 2001 until 2011. The investment efficiency is measured based on firms’ deviations from the expected investment level. The financial information quality is measured based on four different measurement schemes. The results provide support that financial information quality is significantly positively related to investment efficiency. The inclusion of several firm level control variables and use of alternative models to measure investment efficiency provides consistent findings. The results of this study provide further understanding and empirical evidence relevant to quality of financial information and investment efficiency. As most of the extant studies on this association have been done on data from the US and advanced countries, this study fills the gap in literature by investigating the impact of financial information quality on investment efficiency in an emerging market. Although emerging markets make up the vast majority of economic activity around the world, they have received limited attention in academic research. Findings of this study could be of interest to the international organisations such as World Bank whose missions are to aid countries with developing and transitional economy, and improve living conditions of their citizens. Asian Academy of Management (AAM) 2016 Article PeerReviewed application/pdf en http://eprints.usm.my/37437/1/aamjaf120116_06.pdf Ebrahimi Rad, Seyed Sajad and Embong, Zaini and Mohd Saleh , Norman and Jaffar, Romlah (2016) Financial Information Quality And Investment Efficiency: Evidence From Malaysia. Asian Academy of Management Journal of Accounting and Finance, 12 (1). pp. 1-23. ISSN 1823-4992 http://web.usm.my/journal/aamjaf/12-1-6-2016.html |
| spellingShingle | HD28-70 Management. Industrial Management Ebrahimi Rad, Seyed Sajad Embong, Zaini Mohd Saleh , Norman Jaffar, Romlah Financial Information Quality And Investment Efficiency: Evidence From Malaysia |
| title | Financial Information Quality And Investment
Efficiency: Evidence From Malaysia |
| title_full | Financial Information Quality And Investment
Efficiency: Evidence From Malaysia |
| title_fullStr | Financial Information Quality And Investment
Efficiency: Evidence From Malaysia |
| title_full_unstemmed | Financial Information Quality And Investment
Efficiency: Evidence From Malaysia |
| title_short | Financial Information Quality And Investment
Efficiency: Evidence From Malaysia |
| title_sort | financial information quality and investment efficiency evidence from malaysia |
| topic | HD28-70 Management. Industrial Management |
| url | http://eprints.usm.my/37437/1/aamjaf120116_06.pdf |
| work_keys_str_mv | AT ebrahimiradseyedsajad financialinformationqualityandinvestmentefficiencyevidencefrommalaysia AT embongzaini financialinformationqualityandinvestmentefficiencyevidencefrommalaysia AT mohdsalehnorman financialinformationqualityandinvestmentefficiencyevidencefrommalaysia AT jaffarromlah financialinformationqualityandinvestmentefficiencyevidencefrommalaysia |