Perceptions of Professional Investors in Malaysia on the Usefulness of Quarterly Financial Reports

Ku Nor Izah Ku Ismail, Roy Chandler


This study seeks to identify the perceptions of professional investors regarding the use and usefulness of corporate quarterly reports of companies in Malaysia. The findings show that quarterly reports are used and are useful, although the reports are not the most sought-after source of information. This paper provides evidence that the purpose of quarterly financial reports goes beyond forecasting the forthcoming annual results. The reports are also utilised, among other things, to predict results beyond the current period and to provide feedback information concerning financial performance for comparison with earlier expectations. This paper suggests that the relative usefulness of quarterly financial reporting would depend on the type of investors. Also, the findings may be useful to policy makers in preparing regulations on quarterly financial reporting as well as to provide opportunities for more research on the subject.

Kajian ini cuba mengenalpasti persepsi pelabur profesional berkaitan kegunaan dan tahap penggunaan laporan suku tahunan syarikat-syarikat di Malaysia. Penemuan kajian menunjukkan laporan suku tahunan ini diguna dan berguna walaupun ia bukanlah sumber maklumat yang diutamakan. Kertas kerja ini menunjukkan bahawa kegunaan laporan suku tahunan bukanlah setakat meramal keputusan kewangan pada tahun akan datang sahaja. Laporan ini juga digunakan untuk meramal keputusan selepas tempoli semasa dan untuk menyediakan maklumbalas berkenaan prestasi kewangan untuk dibandingkan dengan jangkaan-jangkaan awal. Kertas kerja ini merumuskan bahawa kegunaan laporan suku tahunan bergantung kepada jenis pelabur. Hasil laporan ini menyediakan input bagi pembuat dasar untuk menggubal peraturan terhadap pelaporan kewangan dan untuk membuka peluang supaya lebih banyak penyelidikan dijalankan berkaitan bidang ini.

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