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This paper examines the relationship between the number of domestic banks that the firm engages with and firm value and how this relationship is moderated by ownership concentration at low and very high level on a sample of Malaysian family and non-family firms.

For hypotheses testing, panel data analysis using the fixed effects model (FEM) is used because the FEM can address any endogeneity problems effectively (Chi, 2005). The panel data regression is conducted on both family firms and non-family firms.

We find that there is a significant negative relationship between the number of domestic banks engaged by family firms, operating in industries where these firms do not have absolute monopoly, and firm value. However, there is no evidence that this significant negative firm value effect is stronger in family firms compared to non-family firms. Furthermore, the significant positive moderating effect of ownership concentration on this relationship within family firms in such industries is evident only at low level of ownership concentration. Interestingly, at very high level of ownership concentration, this significant positive moderating effect becomes negative. There is no evidence that these significant moderating effects are stronger in family firms compared to non-family firms.

This research has focused only on family and non-family firms.

An implication of this research is that there is a need for the capital market regulators to introduce appropriate policies to deter family firms from having a close relationship with domestic banks as well as monitor the number of domestic banks engaged by such firms. There may be policy implications for consideration by the Central Bank of Malaysia as well.

This research provides some insights to both academia and industry regarding the consequences of domestic banking relationship and different levels of concentrated ownership in family firms in an emerging market. These insights can help improve the corporate governance as well as ownership structure of Malaysian public-listed family firms which dominate the capital market. Our findings refute the argument by Peng and Jiang (2010) by demonstrating that corporate reputational effects may be a substitute for institutional deficiencies.

This study aims to examine the association between board characteristics (namely, diligence, independence, gender diversity, size and expertise) and sustainability-related disclosures (SRD) in Malaysia.

A robust SRD index of 409 items is used to derive SRD scores for 56 Malaysian listed companies from 2018 to 2020, yielding 168 observations. Pooled ordinary least squares is applied to test the research hypotheses and model.

The authors find that board members in audit committees and female board members show a significant relationship with SRD, casting doubt on the widely held belief that other board characteristics (such as size, diligence, independence and expertise) independently impact SRD. However, the authors find that market influence (firm value) and firm size are associated with SRD.

SRD is at its nascent stage, and companies are cherry-picking on what to report, as evidenced in the SRD scores. Regulators and policymakers must recognize the complex interplay between various factors impacting SRD for the timely issuance of comprehensive rules for firms to comply. The regulators’ drive for more female board representation can be a boost to enhance the sustainability agenda for Malaysian listed companies. The SRD scoring template can be used on post-2020 data to investigate the sustainability maturity of Malaysian listed companies.

The authors evidence that SRD practice is in the early stages of maturity using the comprehensive SRD scoring template. Although the findings contradict prior studies, the authors believe this is driven by the robust SRD measure based on the latest Global Reporting Initiative and Bursa rules.

Purpose – This paper introduces the special issue on accounting in Asia. It summarises and reflects on themes and findings emerging from the papers in this volume.

Design/Methodology/Approach – The findings reported in the paper are based on desk research and review of the papers contained in the volume.

Findings – The papers evidence that corporate governance and financial reporting quality are interlinked. Accounting in Asia is preoccupied with the corporate governance–financial reporting quality nexus in the face of convergence with International Financial Reporting Standards (IFRS).

Research limitations/Implications – Policy makers in Asian countries need to develop appropriate regulatory mechanisms to address cultural issues, namely, attitudes towards secrecy and fraud, to ensure effective implementation of IFRS. This entails sound grounding in ethics and integrity within the financial reporting stakeholder community. Additionally, unintended consequences of fair value application need to be examined in the Asian context.

Originality/Value of paper – This paper is a summary of seven studies in Asia. The studies highlight critical issues emerging from Asia's experience with corporate governance reforms and the move to IFRS convergence, and set the agenda for future research in accounting in Asia, specifically, and emerging economies, generally.

This paper seeks to investigate the influence of government and foreign affiliates, particularly; multinational companies on corporate social reporting (CSR) development in an economy, where CSR awareness is low coupled with weak pressure group activism.

This is a cross sectional study that focuses on the information contained in the annual reports for year 2002/2003. This research uses content analysis as method to measure the extent CSR.

Based on regression analysis, the study evidences on the impact of government influence. However, the impact of foreign affiliation variables is not evident. Institutionalisation of the government's aspirations and commitment to CSR is perhaps the most appropriate description for Malaysian CSR practice.

There are two main limitations of this study. Firstly, this study examines the annual reports for one year. Secondly, this study is annual reports centric. It does not examine any other stand alone reports that the respondents might have produced on the subject of society and the environment.

This study provides justification for government's role in promoting CSR practice. The impact is evidenced although there are no direct concerted efforts at that time by the government in respect of CSR policy implementation. The significant role is attributed to the unique Malaysian socio economic structure.

This study contributes to the CSR literature particularly in the context of economies where governments play a significant role in promoting economic development. It provides empirical evidence of the influence of government and foreign affiliates. It also adds to the literature by explaining the phenomenon from the Institutional perspective and its relevance to a developing economy.