Manuscript type: Review paperResearch aims: This paper offers Southeast Asian researchers, particularly those from ASEAN, a vision to contribute to international agency theory literature.Design/Methodology/Approach: Most of the studies reviewed were identified during the author's preparation for this paper which involves Malaysia.Research findings: Three research streams to which Malaysian researchers can contribute are: political connections, family companies and corporate recovery. The socio-political contexts thathave resulted in Malaysia being a suitable environment are also discussed. This paper identifies gaps in the literature; it accumulates arguments defining why the Malaysian setting is apposite and it also offers research design suggestions for Malaysians and researchers from Indonesia, the Philippines and Thailand, with some defining differences, to follow.Theoretical contributions/Originality: The outcome drawn from this paper assists Malaysian researchers in utilising the agency based theory to approach various topic selections and executions. The comparisons and contrasts made between Malaysia and the other three ASEAN countries may further motivate researchers of the ASEAN region to engage agency theory as a base for their research. Research limitation: A limitation to this paper is that the boundaries between the proposed categories of shareholder political connections are blurred. Keywords: Agency Theory, ASEAN, Malaysia, Review PaperKeywords: Agency Theory, ASEAN, Malaysia, Review PaperJEL Classification: G31, G33, G38, M41

Manuscript type: Research paper. Research aims: This study investigates the relationship between  cash conversion cycle and profitability that exists in the agriculture and food industries in Thailand.  It  specifically  aims  to  examine  the influence of production cycle, cash collection cycle, and cash payment cycle on profitability. In addition, it also aims to measure the influence of control variables such as size and debt ratios have on profitability. Design/ Methodology/ Approach:  This  study  analysed  the  data  of 34 listed companies in agriculture and food industry in the Stock Exchange of Thailand from 2009 to 2013. Pearson’s correlation and the regression analysis approach were used to examine the relationship between cash conversion cycle and profitability. Research findings: The results indicate that cash conversion cycle (CCC) has a significant inverse relationship with profitability in the agriculture and food companies in Thailand. Further, production cycle and debt ratio were found to have a significant negative relationship with return on assets (ROA) while payment cycle and size have a positive relationship with return on equity (ROE). No significant relationship was found between cash collection cycle and profitability. Theoretical contributions/  Originality:  This  study  expands  on the theoretical concepts of cash conversion cycle and its effects on profitability. Although studies have been done on manufacturing firms and industrial SMEs, no study has focused on the agriculture and food industries in Thailand. Practitioner/ Policy implications: Insights gained from the findings can be used to improve working capital decisions and to provide policy directions in the management of agriculture and food industries in Thailand. This study is especially significant as it deals with perishable goods where time is of vital importance for the inventory, collection and payment cycle management since these factors have subsequent influence on firm profitability.Research limitation: This study is limited to 34 listed firms in Thailand and for a period of five years due to the limited access to the annual reports of firms. In addition, some annual reports were only available in the Thai language which hindered the interpretation of data for the current study. Therefore, future studies should investigate the agriculture and food industries of other ASEAN countries by studying the same relationship for comparison. Keywords: Cash Conversion Cycle, Production Cycle, Cash Collection Cycle, Payment Cycle, Profitability, Working Capital Management.JEL Classification: M41, L25, Z12

Manuscript type: Research paper. Research aims: This study aims to investigate the Performance Mea- surement System implementation in Indonesian local governments and the phenomenon of institutional isomorphism. Design/ Methodology/ Approach: This paper employed a qualitative approach,  using  semi-structured  interviews  and  observations.  The samples comprise the heads of departments and individuals representing the agencies and institutions in the Yogyakarta Special Region. A deductive thematic method was utilised as the data analysis technique. Research findings: The study reveals that institutional isomorphism is still in existence. It plays a dominant role in the Performance Measurement System (PMS) implementation of Indonesian local governments at the coercive level. This situation leads to the underachievement of the successful PMS implementation. Theoretical contributions/ Originality: This paper fulfills an iden- tified need for studying how institutional isomorphism influences PMS implementation. This area of study is underresearched in the public sector of accounting, particularly in Indonesia.  Practitioner/ Policy implications: The results of this study show that there is a need for the government or authorities to focus more on understanding how institutional isomorphism at the coercive level may lead to poor PMS implementation. The authorities also need to improve the condition by emphasising on normative isomorphism which can address the problems caused by limited information system, budgetary, human resources and difficulties in determining performance measures. Research limitation: This study is limited to the Yogyakarta Special Region province thus findings cannot be generalised while the approach used is confined to the qualitative method only. This may also affect the outcome of the findings to some extent. Keywords: Local Government, Institutional Isomorphism, Perfor- mance Measurement System, Public Sector Accounting. JEL Classification: G11, G02, C91