Firm attributes, earnings management, and anti-corruption activities in Thai-listed firms
Prawat Benyasrisawat
Afro-Asian J. of Finance and Accounting, Vol. 9, No. 4 (2019) pp. 439 - 458
The Thailand Stock Exchange Commission now requires listed firms to disclose their anti-corruption activities to the public. We explore the unique Thai approach to corruption in three steps. First we study the relationship between anti-corruption activities and firm attributes. Second, we examine the relationship between anti-corruption activities and the quality of earnings. Lastly, we investigate whether the reporting of anti-corruption activity conveys new information to the Thai stock market. The results indicate that firms with superior performance attributes and good corporate governance have higher levels of anti-corruption progress. Earnings management is greater for firms with low levels of anti-corruption progress. We also find evidence that anti-corruption announcements are associated with significant market reactions. This suggests that anti-corruption announcements contain new information that investors consider relevant for firm values.
Author: Koh Chin Wei
Bank specific and economic factors on bank’s non-interest-based activities in Asia Pacific region
Bank specific and economic factors on bank's non-interest-based activities in Asia Pacific region
Koh Chin Wei; Nazrul Hisyam Ab Razak; Fakarudin Kamarudin
Afro-Asian J. of Finance and Accounting, Vol. 9, No. 4 (2019) pp. 420 - 438
This study investigates bank specific and economic factors on bank non-interest based activities in Asia Pacific region banking sector over the years 2000-2015. We employ pooled OLS and panel regression to assess the bank specific and economic factors effect on bank non-interest based activities throughout 61 representative banks across Australia, Hong Kong, Korea, Malaysia, Singapore and Thailand in Asia Pacific region. The empirical findings indicate that the bank specific and economic factors do have impact on banks' non-interest based activities in overall countries, developing and developed countries respectively. We also find that bank non-interest based activities also affected by subprime crisis for developed and developing countries. The findings from this study are expected to contribute significantly toward decision-making for regulators, policymakers, bank managers, investors and also to the existing knowledge on performance of the Asia Pacific banking sector.