This study investigates the cross-sectional variation in debt restructuring among Malaysian publicly listed Government Linked companies (GLCs) and non-GLCs (NGLCs) for the period of from 2005 to ...2015. It attempts to test several firm determinants that can influence the likelihood of Malaysian GLCs to exercise debt restructuring. Past studies argue that liquidity and profitability influences firm’s choice to exercise debt restructuring. This study proposes variants of board of characteristics as one of the influential factors in GLCs debt restructuring since board of directors for this type of organization are usually controlled or owned by government. We employ imbalanced panel data with logistic regression as the method of analysis. The findings show that liquidity, profitability and board characteristics have significant relationship with debt restructuring. The results for profitability indicates that firm with low profitability has higher chance for debt restructuring exercise. However, liquidity has recorded an opposite relationship in our sample. This may be due to our liquidity measures the focuses on short term assets which is less appropriate in debt restructuring context. With regards to board characteristics, three variables such as board size, fraction of Malay directors and fraction of directors with Master degrees show negative and significant relationship influence on the debt restructuring.
Kill rates are a central parameter to assess the impact of predation on prey species. An accurate estimation of kill rates requires a correct identification of kill sites, often achieved by ...field‐checking GPS location clusters (GLCs). However, there are potential sources of error included in kill‐site identification, such as failing to detect GLCs that are kill sites, and misclassifying the generated GLCs (e.g., kill for nonkill) that were not field checked. Here, we address these two sources of error using a large GPS dataset of collared Eurasian lynx (Lynx lynx), an apex predator of conservation concern in Europe, in three multiprey systems, with different combinations of wild, semidomestic, and domestic prey. We first used a subsampling approach to investigate how different GPS‐fix schedules affected the detection of GLC‐indicated kill sites. Then, we evaluated the potential of the random forest algorithm to classify GLCs as nonkills, small prey kills, and ungulate kills. We show that the number of fixes can be reduced from seven to three fixes per night without missing more than 5% of the ungulate kills, in a system composed of wild prey. Reducing the number of fixes per 24 h decreased the probability of detecting GLCs connected with kill sites, particularly those of semidomestic or domestic prey, and small prey. Random forest successfully predicted between 73%–90% of ungulate kills, but failed to classify most small prey in all systems, with sensitivity (true positive rate) lower than 65%. Additionally, removing domestic prey improved the algorithm's overall accuracy. We provide a set of recommendations for studies focusing on kill‐site detection that can be considered for other large carnivore species in addition to the Eurasian lynx. We recommend caution when working in systems including domestic prey, as the odds of underestimating kill rates are higher.
This study examines the relationship between board structure (proxied by non-executive directors, CEO duality, board size and independent directors) and company performance from the perspectives of ...profitability, liquidity and gearing amongst selected listed companies in Malaysia, India and Singapore. The study also determines the extent of similarities and divergences in the abovementioned relationships amongst the three countries. The results indicate that both Malaysia and India share similarities in most relationships but the reverse is documented for Singapore. It is conjectured that mere existence of governance may not be sufficient but its proper execution needs to be seriously considered by policy makers. This will ensure enhanced company performance and long-term survival and sustainability of companies.
Internal auditor’s compliance to code of ethics Alias, Noor Furzanne; Nawawi, Anuar; Salin, Ahmad Saiful Azlin Puteh
Journal of financial crime,
01/2019, Letnik:
26, Številka:
1
Journal Article
Recenzirano
Purpose
The purpose of this study was to determine the professional competency levels acquired by internal auditors in detecting unethical behaviour, to evaluate the position of internal auditors on ...objectivity and integrity in dealing with unethical behaviour and to examine the extent of their awareness on ethical issues in government-linked companies (GLCs).
Design/methodology/approach
Data were collected via questionnaires that were randomly distributed to the internal auditors of the selected GLS in Malaysia. These questionnaires were constructed from the Certified Internal Auditor (CIA) Examination Paper and The Institute of Internal Auditors (IIA) Competency Framework.
Findings
This study found that internal auditors of the GLCs had a high level of competency in performing audit engagements and were able to detect unethical practices in the companies. The majority of the internal auditors also had a high level of objectivity and integrity when faced with unethical behaviour during audit engagements.
Research limitations/implications
This study provided strong evidence that the internal auditors of Malaysian GLCs strongly complied with IIA Code of Ethics. Besides, they were also aware of the unethical behaviour which occurred within their organizations. However, this study is limited to the internal auditors in GLCs, while the questions of the survey instrument are restricted to the elements of integrity, objectivity and professional competencies of internal auditors.
Practical implications
This study highlights the level of internal-auditor competency and adherence to the IIA’s International Standards for the Professional Practice of Internal Auditing (ISPPIA) and IIA’s Practice Guide to identify unethical behaviour within the Malaysian GLCs.
Originality/value
This study is original as it focusses on GLCs which did not get much attention from previous researchers, particularly the GLCs that operate in a developing country such as Malaysia.
In the present study, air quality dispersion analysis was performed for the area near the Rajpura Thermal Power Plant, located in the Punjab province of India. The emission inventory was prepared ...from point source emissions of the power plant and two representative large-scale industries to differentiate the impact of the thermal power plant alone. Prediction of ground-level concentrations of air pollutants viz. SO
2
, NO
2
, and SPM was performed by the United States Environment Protection Agency‑approved air quality dispersion models, namely Industrial Source Complex-Short Term Version 3 (ISCST3) and American Meteorological Society/Environmental Protection Agency Regulatory Model (AERMOD). The spatial dispersion of maximum concentration for the sources of thermal power plant showed that AERMOD predicted higher concentrations near the source when compared with ISCST3 for daily averaging periods. The predicted ground-level concentrations of both the models with data from all the sources’ inventory were found to be similar to the predicted ground-level concentrations of both the models with inputs limited to the source emission data of the thermal power plant alone. The predicted concentrations by two models were compared with each other and validation of models was done with the actual observed concentrations at eight major receptor sites within the study area for the better model performance. The coefficient of correlation graphs suggested that the overall results of AERMOD predictions were better than those of ISCST3 predictions.
Government procurement may contribute significantly to the sustainability of the economy and the environment as it is the biggest purchaser of a country. The government is in a position to influence ...the demand of environmental friendly products and encouraging the businesses to involve in environmental friendly activities. Green government procurement (GGP) is one of the initiatives introduced to improve sustainability. The objectives of this study are threefold: (1) to examine the practices of GGP in Malaysian public enterprises; (2) to identify for any significant difference in GGP practices between statutory body and non-statutory body or government-linked companies (GLCs); and (3) to examine the barriers in GGP practices. The respondents of the study consist of 274 procurement officers and the data are obtained through self-developed questionnaire. The findings reveal that purchases that consider local suppliers is the most commonly adopted GGP practice by public enterprises. Meanwhile, the least adopted GGP practices isparticipates in the design of products for recycling or reuse. The results also show a significant difference in several GGP practices between statutory body and GLC practices such as purchases from local suppliers;purchases from small suppliers;ensure that suppliers comply with labour laws;reports the procurement policy as relates to sustainable development;and reports the economic, environmental and social criteria that apply to expenditures and financial commitments. Meanwhile, among the barriers that mostly faced by the organisations are; lack of guidance, no enforcement and costlyimplementation of the GGP.
PDF
