Determinants of corporate disclosure on intellectual capital in Malaysian IPO prospectuses
This research examines the determinants of intellectual capital (IC) disclosure in company initial public offerings (IPO) prospectus in the Malaysian context. An examination of the influence of the firm’s, management’s and the IPO advisors’ attributes (i.e., 11 independent variables altogether),...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Inder Science
2011
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| Subjects: | |
| Online Access: | http://eprints.intimal.edu.my/186/ http://eprints.intimal.edu.my/186/1/7.pdf |
| Summary: | This research examines the determinants of intellectual capital (IC)
disclosure in company initial public offerings (IPO) prospectus in the
Malaysian context. An examination of the influence of the firm’s,
management’s and the IPO advisors’ attributes (i.e., 11 independent variables
altogether), on the extent of IC disclosure, was carried out. The data was
collected through a content analysis of the IPO prospectus of 330 companies
which were undergoing listing exercise in the Malaysian Securities from
2002–2008, by adopting the IC disclosure checklist used by Bukh et al. (2005),
which is comprised of 78 items. The research shows that the extent of IC
disclosure has increased significantly from 2002 to 2008. Another seven
determinants that have been identified as significantly influencing the extent of
IC disclosure are the company size, level of technology, foreign activity and
performance, pre-IPO managerial ownership, reputation status of the managing
underwriter and the reporting accountant. |
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