This paper develops an improved equity valuation model that predicts firm's market value using firm's Balanced Scorecard (BSC) metrics. It is developed in response to the declining association between market value and, book value and earnings. A 10-year data of 300 firms listed on Bursa Malaysia Main Market was selected as sample. The data of market value and BSC measures were transformed into their natural log form (ln) in order to obtain normal and compatible data. The model shows that BSC better explains the market value than the conventional models.
This paper presents an evaluation on the challenges of construction and engineering firms in facing with fraud issues and their financial performance. The paper focuses on several reported fraud cases in Malaysia as well as an examination on financial performance of construction and engineering firms listed on Bursa Malaysia. It is hoped that this study will provide a better understanding of fraud and financial performance in one of the crucial industry, construction and engineering industries. By doing this, the quality of information that is available to the users can be enhanced and as a guide for future investment in the industry.
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