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Purpose The purpose of this study is to explore stakeholders’ perceptions on money creation and the impact of the accounting treatment for commercial banks’ money lending activity in Malaysia. Design/methodology/approach A phenomenological approach was used to examine the stakeholders’ perceptions through experience-sharing. A semi-structured interview approach was used to collect the data. Ten individuals from different stakeholder groups have been interviewed with their prior consent. For the data analysis, the current study adopted the inductive thematic approach. Findings Perceptions on money creation are influenced by the informants’ understanding and awareness of the research issue. Informants have agreed on the accounting treatment (debit loan and credit deposits) but explained the impact of this accounting treatment differently. The accounting treatment creates an opportunity for the commercial banks to create money as they want, and hence, the excess created money can create inflation and threat for the potential financial crisis. On the contrary, it is argued that money creation results from the systematic approach of the fractional reserve banking (FRB) in Malaysia. In addition, this money creation is not a threat to the economy as long as there is a strong controlling role of Bank Negara Malaysia (BNM). Research limitations/implications Stakeholders’ perception indicates that awareness of the research issue can be a cause of crucial consequence for money lending activity. Moreover, this study may stimulate the chief regulatory body such as BNM, the central bank of Malaysia, to be more cautious in controlling the commercial banks’ money lending activity to prevent the potential future crisis. Furthermore, findings may help to explain the conflicting concept between the textbook explanation for FRB and current commercial banks’ money lending practice through the accounting treatment. Originality/value Monitoring and controlling of money creation and commercial banks’ money lending activity by BNM can be benefited from the stakeholders’ perceptions on this research issue. Because this is the first time study of the stakeholders’ perceptions on money creation and commercial banks’ money lending activity in Malaysia and hence, findings of this study may be worked as the input in the process of monitoring and controlling the money creation activity in Malaysia.

Corporate voluntary disclosure becomes a burning issue in the literature of accounting throughout the last two decades. The study aims to explore the most crucial determinants that influence corporate voluntary disclosure in a transition economy. A cross-sectional study based on the pharmaceutical and chemical companies listed in the Dhaka Stock Exchange is conducted to reconnoiter the crucial determinants affecting the voluntary disclosure. Based on the agency theory, stakeholder theory, and previous literature, the determinants are selected. An unweighted disclosure index is used to measure the extent of voluntary disclosure; after that, a multivariate analysis is steered to reconnoiter the key determinants of voluntary disclosure. It is found that firm leverage and firm liquidity are the key determinants that significantly influence the corporate voluntary disclosure in a transition economy. In contrast, no significant positive association is found between voluntary disclosure and board size. In additon, it is also found that market category significantly influences voluntary disclosure with an inverse direction. This study has important implications for both the corporate people and the regulatory bodies of the transition economy. The study also helps various stakeholders of the transition economy – Bangladesh, in designing their strategies regarding the most significant determinants of voluntary disclosure. Acknowledgment We are very thankful to the Institute of Advanced Research (IAR), United International University, Bangladesh, to grant us the fund by mobilizing which we generate our required data for the study and complete this empirical study.

In recent times, firms and countries especially those in the developed economies are moving more into encompassing both voluntary and mandatory initiatives. This new initiative literature argues is relatively superior to the conventional voluntary initiatives prevalent in most developing economies. Although a catch for researchers, evidence from literature suggest that this interest has mainly been directed at finding the factors that encourage firms to engage in socially responsible investment (SRI) initiatives leading to a proliferation of extant literature. This notwithstanding, very little however exists on the Challenges Firms Face When Engaging In These SRI Initiatives Although Literature Gives An Indication Of Its Essence Especially Within Developing Economies. The Purpose Of This Study Is Thus To Explore The Challenges Faced By Oil And Gas Companies Especially In Developing Economies As They Engage In SRI By Delving Into The context-specific challenges they encounter. This is important as these SRI initiatives are seen to augment the efforts of governments within these developing economies. The study uses the interpretive multiple case study approach in achieving the objective of this tudy. The results of the study suggest that not only do the cases face peculiar challenges; undue government interference and financial constraints. But that the government whose effort they augment (with their SRI initiative) is a source of challenge. The findings also give an indication that some internal stakeholders (staff) form powerful stakeholder group that compound the challenges in engaging in SRI.

Purpose This study aims to examine how corporate social responsibility (CSR) strategy impacts environmental, social and governance (ESG) performance in public listed firms across the Association of Southeast Asian Nations (ASEAN)-5 countries. Additionally, it examines the interaction effect of family ownership, board gender diversity and board skills on the relationship. Design/methodology/approach This study used a fixed-effect panel regression to analyse 1,212 observations collected from ASEAN-5 public listed firms, covering the years 2017–2022. To address the endogeneity problem, this study used a two-step GMM. Findings The findings indicate that the ESG performance of firms in ASEAN-5 countries is significantly and positively influenced by their CSR strategy, suggesting that robust CSR strategies lead to superior ESG performance. Family ownership is found to weaken the positive impact of CSR strategy on ESG performance, indicating that family firms prioritize CSR less. Furthermore, female and skilful boards are more likely to implement effective CSR strategies, as reflected in their improved ESG performance. Practical implications This study urges firms, particularly family-owned firms, to enhance their CSR strategy. It also recommends that policymakers integrate gender diversity and a variety of skills into corporate boards, possibly by revising regulatory frameworks and corporate governance guidelines. Originality/value The results of this study are novel and specifically tailored for ASEAN firms. To the best of the authors’ knowledge, this study is among the first to examine the roles of board skills, gender diversity and family ownership in the relationship between CSR strategy and ESG performance in the ASEAN context.

Purpose The purpose of this paper is to investigate the effect of internal control (IC) on earnings quality from the perspective of the capital market. Specifically, it examines the effect of IC on earnings response coefficients. Design/methodology/approach This study uses the moderated regression analysis on a sample of 1,310 Chinese listed firms on the Shanghai Stock Exchange (SSE) from 2020 to 2022. It employed an earnings response coefficient model by Holthausen and Verrecchia (1988) and used the IC score produced by the index created by the Shenzhen Dibo Enterprise Risk Management Technology, i.e. DIB IC, and risk management database. Findings The study finds that the capital market placed lower earnings reliability on companies with high IC. This suggests that investors perceived negatively on the IC score of China listed companies, possibly due to their negative perception on the reason for implementation of high IC by those companies. A high IC score may raise suspicion amongst investors that the company has internal issues. Research limitations/implications This study adds to the limited studies on less regulated internal governance mechanisms from the perspective of the capital market. The contradictory result suggests the need for more studies before deriving a solid conclusion. Originality/value This study focusses on the under research area of IC rather than the common board of directors and from the perspective of Chinese economies, limited studies of developed countries.

We explore the socially responsible investment practices and implementation approaches of some extractive listed firms through the lens of institutional theory. Using an interpretive case study approach with data collected from interviews, observations, and archival documents, over 10 months, we find that the SRI practices of the firms were in line with the SDGs. Furthermore, we reveal that the case firms' choice of practices along the SDGs was because of the government's drive for SRI practices in line with the SDGs. We also observe that the government-dominated case firm used its SRI practices to augment the developmental activities of the government. Finally, we show that alien to literature, a multinational company implements its SRI practices using the global approach, because of the pressure from its parent company. Our empirical findings possess the rigour expected from qualitative research. The empirical findings are credible, dependable, and confirmable. In ensuring credibility, the interviews were recorded. However, detailed notes were taken of the interviewees who refused to be recorded. The transcribed data were resent to the interviewees to ensure what they said was accurately captured. Recruiting qualified assistants to undertake some interviews, providing in-depth descriptions of the research method and the analysis of the findings from both the intra and cross-case perspective ensured that the findings are dependable. Finally, the use of semi-structured interviews where further clarity was sought when needed makes the empirical findings confirmable. Largely, our findings support the institutional theory, albeit with some deviations.

Financial sustainability had become a primary concern among public universities worldwide due to the declining trend of government's funding and the unceasing growth in higher education cost. Hence, public universities are forced to generate alternative income sources. Resource dependency theory asserts that revenue diversification is a prudent strategy for non-profit organisations to mitigate their financial challenges. However, studies that focused on revenue diversification strategy's potential among public universities are yet to be proven. Thus, this study examined the effect of revenue diversification on the financial sustainability of 20 Malaysian public universities using a panel data approach. Revenue diversification is measured using the Hirschman Herfindahl Index, while financial sustainability was proxied by the Return on Assets (ROA) and Net Profit Margin. The result discovered that revenue diversification had a significant positive relationship with financial sustainability when ROA is used as a proxy. This study contributes to resource dependency theory, whereby the revenue diversification effect was tested and found to be significant in the context of public universities. It also highlighted the importance of revenue diversification to overcome the financial sustainability issue, which became a primary concern of Malaysian public universities in recent years.

Managers of the 21st century use corporate voluntary disclosure to retain existing investors and entice potential investors in order to ensure sustainability in corporate performance. It is a big challenge for the emerging economy to identify the corporate characteristics that significantly influence corporate voluntary reporting, which further leads the organization to achieve sustainability in corporate performance. This study aims to investigate the most important corporate characteristics that affect voluntary disclosure in an emerging economy, Bangladesh. Multiple regression is used to find a causal relationship between the selected corporate characteristics and corporate voluntary disclosure in the emerging economy. It is found that the size of the firm, the profitability of the firm, and the director shareholding significantly influence corporate voluntary reporting, while the listing history does not have any impact voluntary disclosure in Bangladesh. In line with the concepts of agency theory and stakeholder’s theory, this result implies that large and profitable firms with more directors’ shareholding induce the business entity to disclose more information than small and less profitable organizations.