Purpose-This paper aims to measure the financial sustainability and vulnerability of state-managed waqf institutions in Malaysia. Design/methodology/approach-The study mainly applied the commonly used Tuckman and Chang's (1991) model to measure the financial health of non-profits. Content and ratio analysis of the 2014 audited reports of seven institutions were used to determine their equity balance, revenue concentration, administrative costs and operating margin ratios. Findings-The results indicate that only one waqf institution was financially sustainable in all the four components. Research limitations/implications-Because the data used are not the latest and focussed only on a single year, the findings may not be necessarily true, currently. Second, the study focussed only on Malaysia. Thus, the results may not be generalisable to other waqfs in other countries or to privately managed waqf institutions. Accordingly, future research should address these limitations. Practical implications-The findings provide useful insights into the financial sustainability of waqf institutions and highlight the need for policymakers in Malaysia and other Muslim countries to give due attention to the holistic accountability of waqf institutions to ensure waqf's systematic revival. Originality/value-The paper, being the first to investigate the financial sustainability and vulnerability of state waqf institutions in Malaysia, serves as a reference for future researchers.

PurposeThis paper examines the going concern of integrated reporting <IR> as the pessimistic about its sustainable value relevance is gaining momentous. The study employs a quantitative approach to data analysis and mainly sourced secondary data from integrated reports of 83 sampled companies.Design/methodology/approachUtilising data from the companies' integrated reports from 2015 to 2018, the study analyses the impact of <IR> capitals disclosure on corporate sustainable value. <IR> was proxied by its six capital elements, which include financial, manufactured, human, intellectual, natural and social, and relationship capitals, while sustainable value was surrogated by the cost of financing and revenue growth rate. The study develops a checklist and utilises content analysis to score the quality of disclosure by sample companies during the period.FindingsThe longitudinal panel data analysis results reveal that on overall disclosure, <IR> capital has a significant positive effect on the revenue growth but fails to document such on the cost of financing. Meanwhile, on the individual level, human capital and natural capital disclosure have an indirect effect on the cost of financing, while all the six subclassifications affect the revenue growth of the sampled companies.Research limitations/implicationsThe study sampled only 83 companies across the region due to the limited availability of data. Therefore, the generalisation of findings might be hindered, and further examination might be considered as more data become available.Practical implicationsThe study would support the regulators in developing countries to monitor <IR> practices for their domestic companies. It would assist the International Integrated Reporting Council (IIRC) to review the industry's current <IR> practices and give the reason for better <IR> implementation in the future, from both minority and majority economies.Originality/valueThe study is among the pioneer studies that would consider <IR> research across the Asian continent. The study contributes to the recent discussion about sustainable value relevance of <IR>. Also, it would provide some level of incentive to those charged with governance concerning the voluntary compliance with the <IR> framework.

This paper examines the trend of integrated capitals reporting in Asia, given the introduction of the integrated reporting (IR) framework in some of the countries across the continent. Design/ Methodology/ Approach: Using content analysis, the study examines the quality and extent of IR capital reporting based on IR capitals checklist developed based on the International Integrated Reporting Council's (IIRC) framework. The data were drawn from 332 integrated reports hosted on the website of IIRC related to listed companies across the Asian continent over a four-year period (2015-2018). Research finding: The findings indicate a significant increase in the extent and quality of IR capitals disclosure. It also shows significant improvements in each element of IR capitals such as human capital, intellectual capital, social and relationship capital and natural capital based on the sampled integrated reports. Furthermore, financial capital is the most disclosed capital, while manufactured capital is the least disclosed. Though there is a significant increase in the level of disclosure, the extent of disclosure is more pronounced compared to that of the quality of disclosure. Theoretical contribution/ Originality: This study provides a scientific conclusion on the trend of IR capitals disclosure in the Asian continent using most recent integrated reports. Practitioner/ Policy implication: The findings would assist those charged with governance to monitor their reporting strategies about the IR capitals. It helps to point out the areas of improvement in disclosing each element of the IR capitals. The IIRC would also appreciate the trend of quality and extent of IR capital reporting in the Asian continent. This would, in turn, help in the review for any improvement needed to the framework.