Value relevance of accounting numbers: Malaysian high-tech companies

Md Daud, Seri Ayu Masuri and Othman, Intan Waheedah and Ghazali, Aziatul Waznah (2011) Value relevance of accounting numbers: Malaysian high-tech companies. [Research Reports] (Unpublished)

Abstract

Using sample of companies listed in MESDAQ, this paper investigates whether the anomalous relationship between negative earnings and stock prices for the high-tech companies exists in Malaysia. We found evidence rejecting this anomalous relationship and hence failed to accept the claim that including book value in the valuation specification eliminates the anomalous relationship. Surprisingly, test results also indicate that sales are not value relevant in the valuation of high-tech loss making firms in Malaysia.

Metadata

Item Type:	Research Reports
Creators:	Creators Email / ID Num. Md Daud, Seri Ayu Masuri UNSPECIFIED Othman, Intan Waheedah UNSPECIFIED Ghazali, Aziatul Waznah UNSPECIFIED
Subjects:	H Social Sciences > HG Finance > Financial management. Business finance. Corporation finance H Social Sciences > HG Finance > Financial management. Business finance. Corporation finance > Earnings management
Divisions:	Universiti Teknologi MARA, Pahang > Jengka Campus > Research Management Center (RMC)
Keywords:	Book value, Accounting numbers, Malaysian high-tech companies
Date:	2011
URI:	https://ir.uitm.edu.my/id/eprint/120738