Although human capital disclosures (HCDs) have been increasingly embedded within international sustainability reporting frameworks, such as the Global Reporting Initiative (GRI) and environmental, social and governance (ESG) standards, the extent to which these disclosures influence corporate market valuation (MV) remains inconclusive. Previous scholarship has underscored the value relevance of employee-related information in fostering investor confidence and reinforcing stakeholder trust. However, empirical observations continue to indicate that human capital (HC) information is frequently fragmented, inconsistently structured, and insufficiently detailed, thereby limiting its interpretive utility in financial markets. In this study, the influence of disclosed HC metrics within sustainability reports on MV was empirically investigated through a deductive, content analysis-based methodology. Employee-related indicators aligned with GRI standards were systematically categorised into a human capital disclosure index (HCDI), encompassing six dimensions: human capital availability (HCA), human capital wellbeing (HCW), human capital investment (HCI), human capital engagement (HCE), human capital risk (HCR), and human capital value (HCV). Internal consistency of the constructed index was validated using Cronbach’s alpha, with values exceeding the 0.60 threshold across all dimensions. An ex-post facto research design was applied to the top 100 listed entities on the Johannesburg Stock Exchange (JSE) to examine the relationship between the HCDI and MV. The results revealed no statistically significant association between the extent of HC disclosures in sustainability reporting and corporate market valuation. This outcome corroborates existing evidence that information asymmetry and the opaque integration of HC metrics into broader sustainability narratives may attenuate their perceived relevance by investors. Consequently, it is suggested that enhanced standardisation, disaggregation, and contextualisation of HC data are essential to improve its decision-usefulness in capital markets. The findings contribute to ongoing debates concerning the materiality of non-financial disclosures and underscore the imperative for clearer regulatory guidance and reporting uniformity regarding human capital within sustainability frameworks.

The Bandar tradition observed in Negeri Rutah represents a culturally embedded mechanism of informal economic exchange, whereby financial contributions are voluntarily extended by community members to support families with sons entering marriage. This study has revealed that such a system operates not only as a means of reducing the financial burden associated with wedding ceremonies but also as an instrument for reinforcing communal bonds, intergenerational solidarity, and the continuity of intangible cultural heritage. Despite the absence of formal financial records or institutional oversight, contributions are managed through a trust-based system underpinned by mutual reciprocity and collective memory. The persistence of the Bandar tradition in contemporary society has been examined through the lens of social accounting, with a particular focus on its potential alignment with modern principles of accountability, transparency, and cultural resilience. Through qualitative field research, it has been demonstrated that the practice continues to function effectively within the community, sustained by deep-rooted social norms and communal expectations. However, challenges such as urban migration, generational shifts in value systems, and external economic pressures have been identified as potential threats to its long-term sustainability. The integration of culturally sensitive social accounting frameworks has therefore been proposed as a viable strategy for safeguarding this tradition against socio-economic disruption while preserving its core values. The study contributes to a broader discourse on the intersection of indigenous cultural practices, informal economies, and contemporary accountability systems, offering a model through which traditional mechanisms can be adapted without compromising their cultural integrity.