title: The level of voluntary disclosure by Malaysian listed family-controlled companies

authors: Md Zaini, Syeliya Binti

subjects: Voluntary disclosure

abstract: The purpose of this research is to develop a best practice framework of voluntary disclosure for family-controlled companies in Malaysia. This study identifies the level of voluntary disclosure by Malaysian listed family-controlled companies, and reviews and discusses the voluntary disclosure practices in Malaysia from the perspectives of stakeholders. The study contends that the level of voluntary disclosure practices by listed family-controlled companies is lower than that of nonfamily-controlled companies. It is found that factors such as family ownership structure and values are the main influences that contribute to the level of voluntary disclosure in listed family-controlled companies’ annual reports. Malaysian listed family-controlled companies’ decision to disclose voluntarily is not only complex but also is influenced by the family’s governance structure and relationships. This situation accounts for the differences in the level of voluntary disclosure between family-controlled companies and other listed companies. 
This study adopts a mixed methods approach (i.e., quantitative and qualitative methodology) in order to achieve its objectives. A voluntary disclosure index consisting of 61 items is developed using a Delphi process with 40 panel members. The index is then applied on to 30 Malaysian listed companies’ annual reports for the years 2009-2013. The collected data is quantified and analysed to determine the differing levels of voluntary disclosure practices between family-controlled and nonfamily-controlled companies. In addition, factors that might influence the level of voluntary disclosure in the companies’ annual reports are examined. Taking a qualitative approach, 41 corporate managers are interviewed to identify their experiences of using voluntary disclosure information within annual reports. 
The research outcome showed that the current level of voluntary disclosure by family-controlled companies falls below the stakeholders’ expectations. The most frequently disclosed items within the annual reports are general corporate and strategic information, and financial information. However, the forward-looking and risk review management category had lower disclosure in the annual reports, and fell short of stakeholders’ expectation. One important finding in this study is that, compared to previous studies in the Malaysian context, voluntary disclosure regarding Islamic values in areas such as halal certification, zakat, and waqf within the companies’ annual reports is improving.  
This study also identifies that the number of family members involved in the management of a family-controlled business, the generations to which members of the family belong, and the education level of family members are positively significant in terms of the level of voluntary disclosure in the annual reports of family-controlled companies. Furthermore, the data from the discussions with and opinions expressed by the interview participants indicate that the family-controlled companies in Malaysia are progressing towards better voluntary disclosure practices. It is believed that the findings of this research can assist in the improvement of family-controlled company governance and the development of voluntary disclosure practice guidelines applicable to the Malaysian family business context.

text: The level of voluntary disclosure by Malaysian listed family-controlled companies The purpose of this research is to develop a best practice framework of voluntary disclosure for family-controlled companies in Malaysia. This study identifies the level of voluntary disclosure by Malaysian listed family-controlled companies, and reviews and discusses the voluntary disclosure practices in Malaysia from the perspectives of stakeholders. The study contends that the level of voluntary disclosure practices by listed family-controlled companies is lower than that of nonfamily-controlled companies. It is found that factors such as family ownership structure and values are the main influences that contribute to the level of voluntary disclosure in listed family-controlled companies’ annual reports. Malaysian listed family-controlled companies’ decision to disclose voluntarily is not only complex but also is influenced by the family’s governance structure and relationships. This situation accounts for the differences in the level of voluntary disclosure between family-controlled companies and other listed companies. 
This study adopts a mixed methods approach (i.e., quantitative and qualitative methodology) in order to achieve its objectives. A voluntary disclosure index consisting of 61 items is developed using a Delphi process with 40 panel members. The index is then applied on to 30 Malaysian listed companies’ annual reports for the years 2009-2013. The collected data is quantified and analysed to determine the differing levels of voluntary disclosure practices between family-controlled and nonfamily-controlled companies. In addition, factors that might influence the level of voluntary disclosure in the companies’ annual reports are examined. Taking a qualitative approach, 41 corporate managers are interviewed to identify their experiences of using voluntary disclosure information within annual reports. 
The research outcome showed that the current level of voluntary disclosure by family-controlled companies falls below the stakeholders’ expectations. The most frequently disclosed items within the annual reports are general corporate and strategic information, and financial information. However, the forward-looking and risk review management category had lower disclosure in the annual reports, and fell short of stakeholders’ expectation. One important finding in this study is that, compared to previous studies in the Malaysian context, voluntary disclosure regarding Islamic values in areas such as halal certification, zakat, and waqf within the companies’ annual reports is improving.  
This study also identifies that the number of family members involved in the management of a family-controlled business, the generations to which members of the family belong, and the education level of family members are positively significant in terms of the level of voluntary disclosure in the annual reports of family-controlled companies. Furthermore, the data from the discussions with and opinions expressed by the interview participants indicate that the family-controlled companies in Malaysia are progressing towards better voluntary disclosure practices. It is believed that the findings of this research can assist in the improvement of family-controlled company governance and the development of voluntary disclosure practice guidelines applicable to the Malaysian family business context.

year: 2017

title: Application of impulse radar to continuous profiling of tephra-bearing lake sediments and peats: an initial evaluation

authors: Lowe, David J.

subjects: subsurface interface radar

abstract: Subsurface interface radar SIR, or impulse radar, uses electromagnetic pulses for continuous stratigraphic profiling. It has been applied to lake sediments (dy-gyttja) and peat deposits containing a sequence of thin, late Quaternary, ash-grade tephras at Lake Maratoto, North Island, New Zealand. The SIR system is very rapid, precise, and reasonably accurate compared with conventional coring and probing methods, but still requires good stratigraphic control for reliable interpretation. Radar penetration depths of up to 10 m were attained. Interfaces between lake bottom and lake sediments and underlying volcanogenic materials of varying lithologies could be readily discerned, as could many of the tephra layers preserved within the lake sediments. Peat depths and positions of stumps or logs on the surface of the subpeat materials could also be determined. Given adequate calibration by drilling, the SIR system appears useful for various shallow subsurface exploration studies, particularly those involving tephrostratig raphy and paleoenvironmental reconstructions from limnic and peat deposits, and in projects on buried wood.

text: Application of impulse radar to continuous profiling of tephra-bearing lake sediments and peats: an initial evaluation Subsurface interface radar SIR, or impulse radar, uses electromagnetic pulses for continuous stratigraphic profiling. It has been applied to lake sediments (dy-gyttja) and peat deposits containing a sequence of thin, late Quaternary, ash-grade tephras at Lake Maratoto, North Island, New Zealand. The SIR system is very rapid, precise, and reasonably accurate compared with conventional coring and probing methods, but still requires good stratigraphic control for reliable interpretation. Radar penetration depths of up to 10 m were attained. Interfaces between lake bottom and lake sediments and underlying volcanogenic materials of varying lithologies could be readily discerned, as could many of the tephra layers preserved within the lake sediments. Peat depths and positions of stumps or logs on the surface of the subpeat materials could also be determined. Given adequate calibration by drilling, the SIR system appears useful for various shallow subsurface exploration studies, particularly those involving tephrostratig raphy and paleoenvironmental reconstructions from limnic and peat deposits, and in projects on buried wood.

year: 1985

title: Volunteering at the edge of chaos: A case study on the self-organising of younger volunteers during the Rena oil spill crisis

authors: Lockwood, Sarah Jane

subjects: volunteer

abstract: This thesis investigates the self-organising of younger volunteers during the 2011 Rena oil spill crisis in Aotearoa/New Zealand. It builds on emerging research that considers the relationships between volunteering and activism and focuses on the ways in which younger volunteers carved out a ‘volunteer-activist’ space for themselves on the edge of the formal crisis responses.  
The research adopts a case study approach and uses an interpretive lens to investigate three research questions: (1) How was volunteering conceptualised by younger volunteers involved in the Rena crisis?; (2) How did the generational dynamics of younger volunteers affect the various organising responses to the Rena event?; and, (3) How was self-organising conceptualised by younger volunteers involved in the Rena crisis?
The data comprised interviews with 53 participants, 38 of whom were classified as younger volunteers (16-29 years of age) and 15 who held positions of authority in the Rena crisis response and who had high levels of engagement with the younger volunteers. By examining the intersections and overlaps of self-organising, younger generations of volunteers, and crisis events through a social constructionist methodology combined with an interpretive lens and reflexive position, the thesis makes several theoretical and practical contributions.
At a theoretical level, the thesis challenges traditional crisis management approaches dominated by command and control, formal, or top down organisational structures and arrangements. The thesis demonstrates how, as active members of society, younger volunteers developed alternate forms of participation to strengthen crisis response. 
Power tensions between younger volunteers and crisis officials were grounded in a deep sense of frustration resulting from negative societal views toward younger generational cohorts and the structural workings of a risk society. By reconciling social and institutional grievances through self-organising, younger volunteers could take advantage of their marginalised position and enact self-reflexive responses in ways that were not readily available to them in everyday life. This sense of empowerment helped younger volunteers navigate the structural uncertainties they faced as they transitioned towards a competitive labour market and also to take greater control of their lives during a crisis.
From an Aotearoa/New Zealand, perspective, the thesis also provides insights into how younger Māori participants made sense of and enacted their ‘volunteer’ experience and how this experience was influenced by culturally embedded principles. Importantly, there appeared to be no generational differences between how younger and older Māori participants made sense of their ‘volunteer’ experience. Both groups were driven by collectivist orientations, which highlights the importance of contextualising culture in volunteer sector research. 
The social constructedness of the media technologies used by participants exposed broader power structures that existed within their generation-specific social worlds. To this end, media multiplexity showed how use of different communication technologies (1) supported the maintenance of relationships between participants and (2) was fundamental to the meaning participants attached to the different forms of technologies. These findings indicate the need to move away from the current literature’s focus on the tools of communication technologies used by younger people during crisis events, towards the meanings that exist behind the use of such technologies as well as the digital relationships fostered among volunteers. 
This thesis contributes to the scholarship on volunteering and activism by showing how self-organising emerged as an alternative form of activist—or activator—approach to volunteer participation within a crisis response. This approach enabled young volunteer-activators to move beyond their perceived sense of marginalisation and avoid those formal organisational forces that limit their sense of freedom and personal development. The result was an alternative crisis response of self-organised volunteering on the edge of chaos.

text: Volunteering at the edge of chaos: A case study on the self-organising of younger volunteers during the Rena oil spill crisis This thesis investigates the self-organising of younger volunteers during the 2011 Rena oil spill crisis in Aotearoa/New Zealand. It builds on emerging research that considers the relationships between volunteering and activism and focuses on the ways in which younger volunteers carved out a ‘volunteer-activist’ space for themselves on the edge of the formal crisis responses.  
The research adopts a case study approach and uses an interpretive lens to investigate three research questions: (1) How was volunteering conceptualised by younger volunteers involved in the Rena crisis?; (2) How did the generational dynamics of younger volunteers affect the various organising responses to the Rena event?; and, (3) How was self-organising conceptualised by younger volunteers involved in the Rena crisis?
The data comprised interviews with 53 participants, 38 of whom were classified as younger volunteers (16-29 years of age) and 15 who held positions of authority in the Rena crisis response and who had high levels of engagement with the younger volunteers. By examining the intersections and overlaps of self-organising, younger generations of volunteers, and crisis events through a social constructionist methodology combined with an interpretive lens and reflexive position, the thesis makes several theoretical and practical contributions.
At a theoretical level, the thesis challenges traditional crisis management approaches dominated by command and control, formal, or top down organisational structures and arrangements. The thesis demonstrates how, as active members of society, younger volunteers developed alternate forms of participation to strengthen crisis response. 
Power tensions between younger volunteers and crisis officials were grounded in a deep sense of frustration resulting from negative societal views toward younger generational cohorts and the structural workings of a risk society. By reconciling social and institutional grievances through self-organising, younger volunteers could take advantage of their marginalised position and enact self-reflexive responses in ways that were not readily available to them in everyday life. This sense of empowerment helped younger volunteers navigate the structural uncertainties they faced as they transitioned towards a competitive labour market and also to take greater control of their lives during a crisis.
From an Aotearoa/New Zealand, perspective, the thesis also provides insights into how younger Māori participants made sense of and enacted their ‘volunteer’ experience and how this experience was influenced by culturally embedded principles. Importantly, there appeared to be no generational differences between how younger and older Māori participants made sense of their ‘volunteer’ experience. Both groups were driven by collectivist orientations, which highlights the importance of contextualising culture in volunteer sector research. 
The social constructedness of the media technologies used by participants exposed broader power structures that existed within their generation-specific social worlds. To this end, media multiplexity showed how use of different communication technologies (1) supported the maintenance of relationships between participants and (2) was fundamental to the meaning participants attached to the different forms of technologies. These findings indicate the need to move away from the current literature’s focus on the tools of communication technologies used by younger people during crisis events, towards the meanings that exist behind the use of such technologies as well as the digital relationships fostered among volunteers. 
This thesis contributes to the scholarship on volunteering and activism by showing how self-organising emerged as an alternative form of activist—or activator—approach to volunteer participation within a crisis response. This approach enabled young volunteer-activators to move beyond their perceived sense of marginalisation and avoid those formal organisational forces that limit their sense of freedom and personal development. The result was an alternative crisis response of self-organised volunteering on the edge of chaos.

year: 2019