... Indonesia and Thailand and mixed for Malaysia. Similarly, the incremental explanatory power of BVPS is increasing for Korea, the Philippines, and Taiwan, decreasing for Indonesia and Thailand, and ... standard setting body. Table 1 shows these characteristics for the six countries. IASwas the primary basis for accounting standards in Indonesia, Malaysia, and Thailand(although Thailand has ... Numbers 463 Accounting Practices and the Market Valuation of Accounting Numbers: Evidence from Indonesia, Korea,Malaysia, the Philippines, Taiwan, and ThailandRoger C. Graham* and Raymond D....