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Financial statement literacy is vital in helping individuals make good longterm stock investment decisions and is especially relevant in China where individual investors account for 85 per cent of stock market activity. To delve more into this issue, we examine relevant literature on individual investor behaviour, financial literacy and investment analysis respectively. We note an overall lack of financial literacy studies in China. Furthermore, financial statement literacy has received limited attention in all three streams of literature. This is possibly due to the lack of a systematic model for measuring financial statement literacy. Indeed, current studies tend to rely on secondary data and financial statement literacy is measured in a limited manner. We therefore propose a model in which financial statement literacy is evaluated through three dimensions, namely knowledge, attitudes and behaviour. The model can be extended to examine the influence of financial statement literacy on stock investment decision-making. [ABSTRACT FROM AUTHOR]

This paper was conducted to examine whether there was a negative relationship between independent directors' tenure and firm value which indicated the existence of expropriation due to long tenure of independent directors and whether controlling shareholders' ownership moderated this relationship among Malaysian firms. The results revealed that there was a negative relationship between independent directors' tenure and firm value. It also showed there was a significant positive moderating effect of controlling shareholders' ownership on the relationship among Malaysian family firms in exclusive industries. However, there was inconclusive evidence that this negative relationship and positive moderating effect were stronger amongst the family firms compared with non-family firms. [ABSTRACT FROM AUTHOR]

We examine the relationship between related party transactions (RPTs) and firm value and how this relationship is moderated by ownership concentration using a sample of 379 listed family and 151 non-family firms for the period 2007 to 2009. Ordinary Least Square Pooled Model as well as Fixed Effects Model panel data regressions are used in the data analysis. For family firms, we find that RPTs reduce firm value (proxied by Tobin's Q and market-to-book value). Further, controlling shareholders' ownership has a significant positive moderating effect on this relationship. However, for non-family firms, there is no significant evidence of firm value reduction and positive moderating effect respectively. We conclude that expropriation via RPTs is stronger in family firms compared to non-family firms. Additionally, an increase in controlling shareholders' ownership helps mitigate this expropriation and this mitigating effect is stronger in family firms compared to non-family firms. The implications for the capital market regulator are discussed in this paper. [ABSTRACT FROM AUTHOR]