• Document: THE EFFECT OF ACCOUNTING RATIOS ON FIRMS' VALUE: EVIDENCE FROM MALAYSIAN LISTED COMPANIES
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THE EFFECT OF ACCOUNTING RATIOS ON FIRMS' VALUE: EVIDENCE FROM MALAYSIAN LISTED COMPANIES BELL0 USMAN BABA UNIVERSITI UTARA MALAYSIA 2013 THE EFFECT OF ACCOUNTING RATIOS ON FIRMSSVALUE: EVIDENCE FROMMALAYSIAN LISTED COMPANIES. BELL0 USMAN BABA (813113) Project paper submitted to Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, in Fulfillment of the Requirement for the Degree of Master of Science (International Accounting) DECLARATION I certify the originality of ideas, analyses, conclusion and recommendation reported in this dissertation to be my original work except for quotations and citations which have been duly acknowledged. I also declare that the substance of this paper has not been previously or currently submitted for any other degrees or qualification at UUM or any other University. Bello Usman Baba iii Saiya, rnengakiku berkwidatangan, rnemperaklrkanbahawa (I, the widemwed, c&%d fM) BELL0 USMAP1 BAEA f813113) ... FFECT OF ACCOUNTING RATtOS OM FIRMeS' VALUE: EVIDENCE FROM MALAYSIAN LISTED COMPANIES Seperti yaw temht di muka surd tajuk &I kuli kk projek (as # appears un f i e title page and front coyer o f h prwtpaper) Bahma k&s pmj& ksebut boleh W r h a dad segi bmhk serta kandungan dan m d p & Mang iim ckngan m@m. (6MlilQh~~ b~. l f~ h eafman;dcmt~&Ma~kf~ o d b M k mefed Ly fit?pmpf pap). Nama Penyelia IJR. K A W L BAHWN ABDUL MANAF (Name of Supervisor) Tandatangan (Signature) Tarikh (Date) PERMISSION TO USE In presenting thls project work in partial hlfillment of the requirements for a postgraduate degree from Universiti Utara Malaysia, I agree that the University Library may make it fieely available for inspection. I further agree that permission for coping of this project work in any manner, in whole or in part, for scholarly purpose may be granted by my supervisor or, in his absence by the Dean of Othman Yeop Abdullah Graduate School of Business. It is understood that any copying or publication or use of this project work or part thereof for financial gain shall not be allowed without my written permission. It is also understood that due recognition will be given to me and to Universiti Utara Malaysia for my scholarly use which may be made of any material from my project work. Any request for permission to copy or make other use of the materials in this project work, in whole or in part should be addressed to: Dean Othman Yeop Abdullah School of Business Universiti Utara Malaysia 06010 UUM Sintok Kedah Darul Aman, Malaysia. ABSTRACT This study empirically examines the effect of accounting ratios on firms' value among Malaysian listed companies. The study utilized a sample of top 100 leading companies in Malaysia (Index Companies) for the period covering 2008 - 2012. Based on the extensive review of literature, conceptual framework was proposed and hypotheses were developed to examine the relationship between the variables of the study. A multiple regression analysis was used in analyzing the data collected. Findings from the study revealed that both liquidity and profitability ratios have a significant effect on firms' value. On the basis of the findings, the study concludes that there is increasing need for a more credible and comprehensive disclosure of accounting ratios in the annual reports of companies. On this ground, the study recommends that Malaysian regulatory authorities implement a policy or a guideline that will encourage a uniform and comprehensive disclosure of accounting ratios by companies. T h s in turn will avail investors and other users of financial information a better means of evaluating and making a qualitative judgment on companies7 financial performance. Keywords: Liquidity ratios, Profitability ratios, Financial Statement, Firms7 Value, Malaysian Capital Market. ACKNOWLEDGEMENT In the Name of Allah most gracious, most merciful all praise is due to Allah (SWT) the lord of the universe and the master of the day of reckoning. Alhamdulillah, his blessing and guidance have made me complete this challenging task. Peace is upon our noble Prophet Mohammad (S.A.W) who has given light to mankind. I owed a debt of special appreciation to my amiable lecturer and supervisor, Dr. Kamarul Bahrain Abdul-Manaf whose guidance and contribution did not only set path for this thesis but also made it a reality. Indeed his constructive criticisms throughout the per

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