In today's economy, companies try to publicize their good value by revealing related information in their financial reports as a way of convincing their stakeholders that investment in them is a good move. This paper delves into the relationship that exists between characteristics of corporate governance and structure of ownership on voluntary disclosure in interim financial reports (half yearly) published, focusing on variables that affect voluntary disclosure of the ASE Jordanian listed companies. The dynamic panel system GMM estimation was employed on the data from 72 selected ASE listed companies for the period of [2009][2010][2011][2012][2013], and the results show that a substantial degree of voluntary disclosure is demonstrated in high level corporate governance awareness and implementation in Jordan. Specifically, the factors of board compensation, audit firm size, and government ownership significantly impact voluntary disclosure. Aside from that, voluntary disclosure in the half-yearly reports has potential impact on market capitalization.

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The focal point of this study is on voluntary disclosure in interim financial reports of the ASE listed companies in Jordan. The initiatives of voluntary disclosure have been under global scrutiny since the last two decades, owing to various stakeholders' persistent needs to be more informed about their corporations. As the mandatory corporate disclosure itself is insufficient, the study attempts to assess the directions of causality between the degree of voluntary disclosure and corporate performance in the half-yearly reports released by companies listed in the Jordan's ASE for the period of 5 years (2009)(2010)(2011)(2012)(2013). The Granger tests were employed to ascertain the causality between voluntary disclosures and corporate performance in the half-yearly reports. From the test outcomes, most companies (50) show no directional causality, 21 companies demonstrate unidirectional causality while one company has bidirectional causality. The quality of voluntary disclosure appears to have high correlation with the performance of companies their half-yearly reports. Thus, high levels of transparency and quality of disclosure lead to good governance and enhance company's performance, while low voluntary disclosure makes it more difficult to forecast the company's performance.

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This study examines the impact of shariah approved companies on the relationship between corporate governance structure and voluntary disclosure of half-yearly reports in Jordan, focusing on variables that affect voluntary disclosure of the ASE Jordanian listed companies. The dynamic panel system GMM estimation was employed on the data from 72 selected ASE listed companies for the period of 2009-2013, and the results show that a substantial level of voluntary disclosure is demonstrated in high level corporate governance awareness and implementation in Jordan. Specifically, the factors of board compensation, number of shareholders, government ownership and Shariah approved company significantly impact voluntary disclosure. In addition, this study shown that the effect imparted by the presence of audit committee, board size, and block-holder ownership on the level of voluntary disclosure appear to be greater among the Shariah approved companies. Aside from that, voluntary disclosure in the half-yearly reports has potential impact on market capitalization. The findings may provide some implications for research regarding the voluntary disclosure and Shariah approved companies of financial reporting in Jordan.

Zakat institutions nowadays have played an important role in ensuring that every eligible asnaf used the aid wisely. The paradigm shift that has been done by some of the zakat institution ensuring the asnaf could be removed from the group and became a giver. For example, the fund management has undergone a transformation process until develop the entrepreneur asnaf program. The objective of this research is to analyze the asnaf entrepeneur program in Selangor and Kuala Lumpur and issuing a model for the asnaf entrepreneurship development program and discussing monitoring by using MyEma Apps. This researh has choose these two states based on following factors. These two states are the earliest to run the asnaf entrepreneurship program, the high capital allocatioan for the asnaf entrepreneurship program and success to produce asnaf entrepreneur from the group of reciepient to the giver of zakat. This qualitative research using library and observation method to collect data. Method of interview conducted with officers in Lembaga Zakat Selangor (LZS) and group research in Selangor. The finding showed that asnaf entrepreneur program very valuable and highly impact to the asnaf because of the program will be able to enhance the economy of asnaf and the asnaf can contributing towards high-income economy. Researchers hope that this research can make structural asnaf development program have a specific model that can be used in every institution of zakat that have not run entrepeneur development programs. Entrepreneurial development program should be done by the zakat institutions that not have the program. They should make this model as the structure of the program and also use MyEma as an instrument for monitoring sector. Keywords: Entrepreneur, Asnaf, Zakat, Zakat Distribution, Business Model Abstrak Institusi Zakat pada masa kini telah memainkan peranan penting bagi memastikan setiap asnaf yang layak menerima bantuan dapat menggunakan bantuan tersebut sebaiknya. Anjakan paradigma yang telah dilakukan oleh beberapa pusat zakat dalam memastikan penerima bantuan zakat dapat dikeluarkan daripada golongan tersebut lalu menjadi sebagai pemberi zakat. Sebagai contoh, pengurusan dana tersebut telah melalui proses transformasi sehingga tercetusnya program usahawan asnaf. Objektif kajian ini adalah untuk menilai program keusahawanan asnaf di negeri Selangor dan Kuala Lumpur serta mengeluarkan satu model produktif pembangunan keusahawanan asnaf dan membincangkan pemakaian aplikasi MyEma sebagai instrumen untuk pemantauan. Sampel kajian ke atas dua negeri tersebut berdasarkan beberapa faktor iaitu antara negeri terawal yang melakukan program keusahawanan asnaf, peruntukan pemberian zakat berbentuk modal perniagaan yang tinggi dan kejayaan mengeluarkan usahawan asnaf daripada kelompok asnaf sehingga menjadi pembayar zakat. Kajian kualitatif ini menggunakan metode perpustakaan dan observasi untuk mengumpul data. Metode temubual dijalankan terhadap pegawai di Lembaga Zakat Selangor (LZS) dan kumpulan kajian di kawasan Selangor. Hasil kajian mendapati program usahawan asnaf amatlah tinggi nilainya serta memberi impak yang sangat berkesan kepada taraf ekonomi asnaf kerana program ini dapat mengeluarkan diri mereka daripada kelompok asnaf dan seterusnya dapat memberi rangsangan kepada ekonomi negara dan membantu ke arah ekonomi yang berpendapatan tinggi. Diharapkan institusi zakat yang masih belum menjalankan program pembangunan keusahawanan asnaf dapat menjadikan model yang dibangunkan ini sebagai struktur program tersebut di samping mengguna pakai aplikasi pemantauan MyEma sebagai instrumen bagi sektor pemantauan. Kata kunci : Usahawan, Asnaf, Zakat, Agihan Zakat, Model Perniagaan

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