ajfa: A Pathfinder

This is a computer-generated pathfinder created against the Distant Reader study called ajfa.

Each Distant Reader study carrel is composed of many individual items. Each item is bibliographically described with author, title, date, summary, and keyword values. Below is a list of the items' most signficant keywords as well as lists of the items themselves. Purpusing the content of this pathfinder provides the student, researcher, or scholar with one way to get their heads around the scope of the carrel. The keywords include:

Accounting; Market; Stock; Performance; Companies; Value; Asian; Model; Firm; Firms; Issn; Capital; Risk; Returns; Banks; Financial; Relationship; Assets; Variables; Price; Board; Banking; Return; Earnings; Effect; Investment; Business; Rate; Bank; Analysis; System; Effects; Search

Depending on how this pathfinder was created, many of the bibliographic sections will include elaborations on the meaning(s) of the given keywords. These elaborations were generated by feeding the items' summaries to a large langauge model and asking the model to address the question, "What is X?", where "X" is the keyword. The result will be a few sentences of elaboration. Be forewarned. The elaborations are often plausible, but they should not be take as truth. Instead, they should be taken as points for consideration.

• The Issue of Transparency in the Financial Statements of Commercial Banks: Empirical Evidence after the Global Financial Crisis by Bui, Yen Hoang (2011) - 2.1 Effects of fair value accounting Proponents of fair value accounting believe that fair value measurement provides timely information to the market and increases the relevance and transparency of financial reporting (Barth and Landsman, 2010; Mala and Chand, 2011). From a prudential perspective, opponents to fair value accounting have contended that reporting assets and liabilities at fair value contributed to capital losses and rendered banks undercapitalised. Keywords: accounting; assets; banks; capital; change; disclosures; ffvi; finance; financial; income; instruments; journal; market; tcr; value; value accounting
• Audit Firm Size, Audit Fee, Audit Reputation and Audit Quality: The Case of Listed Companies in Vietnam by Pham, Ngoc Kim; Duong, Hung Nguyen; Pham, Tin Quang; Ho, Nga Thi Thuy (2017) - Thus, audit quality is associated with the quality of audited financial reports as higher audit quality provides greater assurance of high financial reporting quality (DeFond and Zhang, 2014). In another word, earnings management is eliminated by high audit quality, thus, it is an appropriate proxy of audit quality (DeFond and Zhang, 2014). Keywords: accounting; audit; audit firms; audit quality; auditors; companies; earnings; fees; finance; firms; journal; management; reputation; study; vietnam
• The Influence of Directors’ and Officers’ Insurance on Managerial Myopic Behavior by Chen, Guang-Zheng (2016) - I therefore expect that D&O insurance coverage is associated with myopic R&D investment behavior. This study extends this line of research by provide evidence that D&O insurance coverage appears to be an important determinant of managerial myopia. Keywords: accounting; coverage; d&o; earnings; expenditures; firm; group; insurance; journal; managers; r&d; value; year
• Protection of Investors’ Rights and the Long-Run Performance of Rule 144A Private Equity Offerings by Ahn, Seoungpil; Hong, Gwangheon (2016) - Rule 144A Issuance by Countries country Initial Data DS Data Legal Origin Anti-Direct or Rights Judicial Efficiency Accounting Standards India 53 39 English 5 8.00 57 Taiwan 41 38 German 3 6.75 65 Korea 22 20 German 2 6.00 62 Russia 18 0 NA NA NA NA Mexico 17 0 French 1 6.00 60 Turkey 15 12 French 2 4.00 51 Poland 13 6 NA NA NA NA Egypt 9 5 NA NA NA NA Italy 9 7 French 1 6.75 62 South Africa 9 9 English 5 6.00 70 Greece 8 6 French 2 7.00 55 Hungary 8 5 NA NA NA NA Argentina 7 5 French 4 6.00 45 China 7 2 NA NA NA NA Australia 6 6 English 4 10.00 75 France 6 4 French 3 8.00 69 Philippines 6 6 French 3 4.75 65 Switzerland 6 5 German 2 10.00 68 UK 6 3 English 5 10.00 78 Columbia 5 1 French 3 7.25 50 Japan 5 1 German 4 10.00 65 Germany 4 4 German 1 9.00 62 Peru 4 3 French 3 6.75 38 Portugal 4 3 French 3 5.50 36 Spain 4 1 French 4 6.25 64 Austria 3 3 German 2 9.50 54 Brazil 3 1 French 3 5.75 54 Chile 3 1 French 5 7.25 52 Croatia 3 1 NA NA NA NA Finland 3 2 Scandinavian 3 10.00 77 Ireland 3 1 English 4 8.75 74 Israel 3 0 English 3 10.00 64 Lebanon 3 1 Keywords: 144a; accounting; capital; equity; financing; firms; na na; rule
• Effect of Human Capital Expenditure on the Profitability of Quoted Manufacturing Companies in Nigeria by Olowolaju, Philip Segun; Oluwasesin, Olayemi Deborah (2016) - The study concluded that human capital expenditure significantly influenced profitability of manufacturing Asian Journal of Finance & Accounting ISSN 1946-052X 2016, Vol. 8, No. 2 ajfa.macrothink.org 156 companies quoted on the Nigerian Stock Exchange and companies that place more emphasis on human capital, maintaining it and treating it as a pure asset will have motivated work force. 2.3 Empirical Framework Realizing the importance of human capital as a valuable resource for innovation, enhancement and maintenance of organizational competitive advantage and at the same time improving its corporate image in the global market, many researchers in Nigeria, United states, Europe, United Kingdom, Australian, China, Denmark, India, Finland, Kujansiva and some other countries all over the world have conducted intensive research on various aspects of human capital expenditure. Keywords: accounting; capital; capital expenditure; companies; expenditure; human; journal; profitability; study; training; variables
• Capital Structure Effect on the Practices of Earnings Management Phenomenon? The Evidence of Listed Firms in Abu Dhabi Securities Exchange by Obeidat, Mohammed Ibrahim Sultan (2016) - Non-discretional accruals do not involve earnings management practice, whereas discretionary accruals are rich field for practicing the phenomenon of earnings management. Several procedures are taken to reduce the practices of earnings management such as the issuance of Sarbanes-Oxley Act, and corporate governance to reduce earnings management practices. Keywords: accounting; accruals; capital; debt; earnings management; firms; journal; management phenomenon; management practices; phenomenon; practices; structure; study
• Post-merger Integration Approaches: Case Analysis of the One. Vip Macedonia Merger by Stevcevska Srbinoska, Dusica; Smokvarski, Edi (2017) - Keywords: Integration process, Integration approach, Merger and acquisition, Macedonian market Asian Journal of Finance & Accounting ISSN 1946-052X 2016, Vol. 8, No. 2 ajfa.macrothink.org 229 1. Vip merger integration, it is evident that the integration process must be aligned with the pre-set acquisition goals. Keywords: 052x; accounting; entity; finance; integration; market; merger; skopje; structure; vol
• Does Board Supervisory Quality Enhance Corporate Social Performance?-Evidence from Taiwanese Listed Firms by Yeh, Yaying Mary Chou; Hsieh, Wen-Chi (2017) - Corporate boards in OECD countries: Size, composition, functioning and effectiveness. However, board social capital and training significantly but negatively impact CSP, implying busy board and inexperienced board detriments CSP. Keywords: accounting; asian; attendance; board; csp; csr; directors; finance; firms; governance; journal; meeting; performance; quality; results; training
• Contingency Factors, Risk Management, and Performance of Indonesian Banks by Saiful, Saiful (2017) - Dannon (2009) states that the internal governance mechanism including independent board Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 1 ajfa.macrothink.org 41 role more effective in explaining bank risk. Abstract The purpose of this study is to examine the effect of enterprise risk management (ERM) and credit risk management (CMR) on Indonesian bank performance. Keywords: accounting; bank; bank performance; credit; crm; erm; independent; journal; management; performance; relationship; risk; risk management
• Internet Financial Reporting in Malaysia: The Preparers’ View by Kiew-Heong, Yap (2011) - Most of the respondents agreed the Internet offers easy access to company financial information. Do you think statutory body/accounting standard body/securities regulator should regulate company Internet reporting? Keywords: accounting; companies; company; disclosure; finance; governance; ifr; information; internet; journal; reporting; researchers; respondents; study; web;  
• CEO Overconfidence and Fair Value Reporting-the Moderating Effect of Corporate Governance by Hsu, Hui-Wen (2017) - Given the ongoing debate as to whether fair values can be measured with sufficient reliability and whether they can be opportunistically manipulated, the Financial Accounting Standards Board (FASB) issued SFAS No. 157, which became effective for fiscal years beginning after November 15, 2007. SFAS No. 157 offers a uniform definition of fair value, develops a framework for measuring this, and expands disclosure about fair value measurements. Keywords: accounting; assets; ceo; ceo overconfidence; finance; firms; governance; journal; level; overconfidence; total; values
• The Effect of Firm Size on Predictability Future Cash Flows Using Earnings and Operating Cash Flows by Takhtaei, Nasrollah; Karimi, Hassan (2017) - In their analysis, they define earnings as the earnings before extraordinary items and discontinued operations; cash flows from operations as the as operating income before depreciation minus interest minus taxes minus changes in noncash working capital; and also operating accruals as the earnings before extraordinary items and discontinued operations minus cash flow from operations. He directly obtains cash flow from operations from statement of cash flows and earnings from income statement of the companies. Keywords: accounting; cash; cash flow; cfoi; earnings; flows; items; operations; t-1; year t
• Stock Market Investors’ Guide to Corporate Dividend Policy: Evidence from Pharmaceuticals and Chemicals Industries in Bangladesh by Chowdhury, Tanbir Ahmed; Jannatunnesa, Jannatunnesa (2017) - The relevance and irrelevance of dividend policy have been analyzed by finance scholars based on a number of dividend policy theories (Miller and Modigliani, 1961; Gordon, 1956; Linter, 1959). Numerous studies examined the individual factors affecting dividend policy with detailed analyses and interpretations, especially in the developed globe. Keywords: accounting; bangladesh; determinants; dividend; dividend payout; dividend policy; finance; firm; growth; journal; market; pharmaceuticals; positive; ratio; research; stock; study
• Accrual Accounting in Public Sectors: Possible Contextual and Application Gaps for Future Research Agenda by Mahadi, Rozaidy; Abdul Khalid, Siti Nabiha; Mail, Rasid; Noordin, Raman (2017) - A study of conflict and ambiguity’ √ X Barton, A.D. (2004), ‘How to Profit from Defense: A Study in the Misapplication of Business Accounting to the Public Sector in Australia’ X √ Bogt, H.J. ter, (2008), ‘Management Accounting Change and New Public Management in Local Government: A Reassessment of Ambitions and Results –An Institutionalist Approach to Accounting Change in the Dutch Public Sector’ √ X Brignall, S. and Modell, S. (2000), ‘An institutional perspective on performance measurement and management in the ‘new public sector’’ √ Broadbent, J., Jacobs, K., & Laughlin, R. (1999), ‘Comparing schools in the UK and New Zealand: individualizing and socializing accountabilities and some implications for management control’ X √ Broadbent, J., Jacobs, K., & Laughlin, R (2001), ‘Organisational Resistance Strategies to Unwanted Accounting and Finance Changes: The Case of General Medical Practices in the U.K’ √ X Broadbent, J. and Laughlin R. (2002), ‘Accounting Choices: Technical and Political Trade-Offs and the U.K’s Private Finance Initiative’ X √ Broadbent, J. and R. Laughlin (2003), ‘The Role of PFI in the UK’s Government Modernization Agenda’ X √ Brorstrom, B. (1998), ‘Accrual Accounting, Politics and Politicians’ √ X Connolly, C. and Hyndman, N. (2006), ‘The actual implementation of accruals accounting caveats from a case within the UK Public Sector’ X √ Christianes, J. and Rommel, J. (2008), ‘Accrual Accounting Reforms: Only for Businesslike (Parts of) Governments’ √ X Christianes, J. and Wielemaker, E. D. (2003), ‘Financial Accounting reform in Flemish Universities: An Empirical study of the implementation’ X √ Christianes, M. (2002), ‘Accrual accounting in the Public Sector: The case of New South Wales government’ √ X Christianes, J. (2001), ‘Converging new public management reforms and diverging accounting practices in Flemish local governments’ √ √ X Doolin, B. (1999), ‘Casemic Management in a New Zealand Hospital: Rationalization and Resistance’ √ X Edwards, P., Ezzamel M., Mclean C. and Robson K. (2000), ‘Budgeting and Strategy in Schools: the Elusive Link’ X √ English, L. (2003), ‘Emasculating Public Accountability in the Name of Competition: Transformation of State Audit in Victoria’ √ √ X English, L.M. and Guthrie J. (2003), ‘Driving Privately Financed Projects in Australia: What Makes the Thick’ √ X Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 1 ajfa.macrothink.org 259 Ellwood, S. and Newberry S. (2007), ‘Public Sector accrual accounting: Institutionalizing neo-liberal principals’ √ X Garseth, L. (2011), ‘Accrual accounting representations in the public sector – A case of antopoiesis’ X Guthrie, J. (1998), ‘Application of accrual accounting in the Australian Public Sector: Rhetoric or reality’ √ √ X Harun, H., Peursem, K. V. and Eggleton I. (2012), ‘Institutionalization of Accrual Accounting in the Indonesian Public Sector’ √ X Hepworth, N. (2003), ‘Preconditions for successful implementation of accrual accounting in central government’ X Hodges, R. and Mellett, H. (2003), ‘Reporting Public Sector Financial Result’ X √ Hoque, Z. and Moll, J. (2001), ‘Public Sector reforms implications for accounting, accountability and performance of state-owned entities –Australia Perspective’ X √ Humphrey, C. and Miller, P. (2012), ‘Rethinking impact and redefining responsibility: The parameters and coordinates of accounting and public management reforms’ √ X Jagalla, T., Becker, S.D. and Weber, J. (2011), ‘A Taxonomy of the Perceived Benefits of Accrual Accounting and Budgeting: Evidence from German States’ This is good evidence of attempts to broaden the remit of public sector accounting research in order to consider a wider range of organisations (Broadbent and Guthrie, 2007; Guthrie, 1998), even though, as noted earlier, scholars are still attracted to studies at a local administration level. Keywords: accounting; approaches; management; new; research; sector; studies; study; systems; techniques
• The Integration between Strategic Cost Management Techniques to Improve the Performance of Iraqi Manufacturing Companies by Al-Naser, Khalis; Mohamed, Rapiah (2017) - Initially, it was observed that implementation of TQM has no impact on financial performance but later on it was seen that implementation of TQM has a positive impact on the firm performance. The impact of TQM on financial performance. Keywords: accounting; bsc; business; journal; management; manufacturing; performance; perspective; quality; research; scorecard; tqm
• A Model for Bank Performance Measurement Integrating Multivariate Factor Structure with Multi-Criteria PROMETHEE Methodology by Dash, Mihir (2017) - YES Bank 3 Bank of Baroda 3 Standard Chartered 4 Bank of India 4 South Indian Bank 5 Canara Bank 5 Kotak Mahindra 6 Corporation Bank 6 HDFC Bank 7 Central Bank of India 7 Federal Bank 8 Dena Bank 8 Dhanalaxmi Bank 9 Indian Overseas Bank 9 Development Credit Bank 10 Indian Bank 10 Karnataka Bank 11 Oriental Bank of Commerce 11 J &K Bank 12 Punjab National Bank 12 ING Vysya 13 State Bank of India 13 Bank of Rajasthan 14 IDBI Bank 14 Citi Bank 15 Syndicate Bank 15 Tamilnad Mercantile Bank 16 UCO Bank 16 ICICI Bank 17 Union Bank of India 18 United Bank 19 Vijaya Bank The CAMELS variables, averaged across the five-year period, were taken for the factor analysis, and the subsequent factor weights were used in conjunction with a multi-criteria procedure, PROMETHEE II (Doumpos and Zopounidis, 2011). Overall, the best performing banks were: Standard Chartered Bank, Indian Bank, Punjab National Bank, Union Bank of India, and Canara Bank, while the worst performing banks were: Development Credit Bank, United Bank, Dhanalakshmi Bank, ING Vysya Bank, and Bank of Rajasthan. Keywords: accounting; assets; banking; banks; capital; factor; finance; india; journal; performance; promethee; ratio; risk; scores; sector banks; study; total
• The Foreign Exchange Exposures and Enterprise Risk Management: Evidence from Hospitality Industry in Taiwan by Hsiao, Chiu Ming (2017) - Exposure to foreign exchange risk: A multi-currency extension. The empirical results show that the impacts of the fluctuation of foreign exchange rate on the business performance of hotels are significant and different across currencies and the size of a hotel. Keywords: 052x; accounting; ajfa.macrothink.org; asian; company; exchange; finance; hotel; international; issn; journal; model; rate; risk; roa; roe; stationary; table; taiwan; tourism; variables; vol
• Do Firms' Characteristics Make a Difference of the Choice of Capital Budgeting Practices? Evidence from Sri Lanka by Kengatharan, Lingesiya (2017) - Experience of financial officers and use of capital budgeting practices This section examines the difference in use of capital budgeting practice in terms of the experience of the financial officers (tenure). Keywords: Capital budgeting practices, firm characteristics, Sri Lankan companies Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 2 ajfa.macrothink.org 331 1. Keywords: accounting; analysis; budgeting practices; capital budgeting; finance; firms; industry; journal; mba; non; officers; practices capital; small; use
• Factors Affecting the ProfitabilitFactors Affecting the Profitability of Indonesian Real Estate Publicly-listed Companiesy of Indonesian Real Estate Publicly-listed Companies by Diaz, John Francis T; Tjokro Hindro, Martha Christianie (2017) - In general, the average ROA of Indonesian real estate companies is 6% with data variations of 5%. These variables are tested against return on asset (ROA) as a proxy for profitability, and the general null and alternative hypotheses are: • H0: Independent variables have no explanatory power on profitability of Indonesian real estate companies (βi = 0) • H1: Independent variables have explanatory power on profitability of Indonesian real estate companies (βi ≠ 0) Keywords: accounting; companies; company; days; debt; estate; estate companies; finance; journal; model; number; profitability; ratio; real; relationship; size; study; vol
• The Possibility of the Jordanian Industrial Corporations to Apply the IFRS No. 15 by Al-Shatnawi, Hasan (2017) - Substantial new disclosures required by revenue standard. This study showed that it is possible for the Jordanian industrial corporations to commit to the requirements for revenue recognition and the accounting measurement. Keywords: accounting; accounting issn; contract; corporations; establishment; financial; ifrs; requirements; revenue; revenue recognition; standard; study
• International Financial Reporting Standard (IFRS) Adoption and Its Impact on Financial Reporting: Evidence from Listed Nigeria Oil and Gas Companies by Zakari, Murtala (2020) - To achieve this, data were collected from financial statements prepared using IFRS for the periods 2012-2016, and financial statements prepared using Nigeria GAAP for the periods 2007-2011, i.e. pre and post IFRS adoption in Nigeria for a period of 5years each. The major contribution of this study is demonstrating the benefits of IFRS adoption using key financial ratios for the accounts prepared with Nigeria GAAP and IFRS, what would be interesting is the variability in the ratios. Keywords: accounting; adoption; companies; gaap; ifrs; journal; nigeria; reporting; research; standards
• Customer Service Impacts on Bank Policy in Bangkok, Thailand by James, Paul (2012) - 3. Methodology To gain a broader, deeper and more involved understanding of the issues generated within the Thai service-banking context and to consider more implicitly the issues and questions raised, this empirical groundwork utilised an interpretive approach (Walsh, White, and Young, 2008) to understand the perceptions of bank customers. It is, therefore, of importance for banks to explore the reasons for bank customers in Thailand in order to ensure that customer views are taken into consideration (Azvine and Nikravesh, 2002) when developing new bank products, changing the banking system through responses to competitive forces and highlighting the increasing importance of the understanding changing consumer behaviour and attitudes (Byers and Lederer, 2001) in Thailand’s financial industries. Keywords: accounting; asian; bank; banking; customer; customer service; journal; management; marketing; process; product; quality; research; service; service quality; staff; vol
• A Literature Review on Ohlson (1995) by Kumari, Pooja; Mishra, Chandra Sekhar (2017) - O’95 determined the market value of thefirm in association with accounting values. Whereas, Know (2001) considered asymmetrically informed investors and found that accounting values are associated with market values. Keywords: accounting; accounting research; earnings; finance; information; journal; model; ohlson; o’95; research; review; studies; valuation; value
• Accounting Reforms and Foreign Portfolio Investment in China: An Empirical Investigation by Draz, Muhammad Umar; Ahmad, Fayyaz (2017) - The data of accounting reforms introduced by the international accounting bodies has been obtained from the official website of IASB; while the data of Chinese accounting reforms has been taken from literature on Chinese accounting history and the accounting standards issued and revised by the Ministry of Finance, China. FPI is used as dependent variable; while Chinese accounting reforms, annual increase in listed companies of China, China’s GDP growth and financial crises are used as explanatory variables. Keywords: accounting; china; companies; fpi; investment; level; reforms; relationship; variables
• Climate Change Disclosures in the Annual Reports: Evidence from Bangladesh by Dey, Pappu Kumar; Nakib, Mohammad; Dutta, Probal (2017) - Keywords: Climate change, climate change disclosures, annual reports, content analysis, Dhaka Stock Exchange, Bangladesh Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 2 ajfa.macrothink.org 90 1. Introduction Climate change has been a burning issue as its drastic impacts are being apprehended and its dreadful effects are appearing and intensifying day by day. https://doi.org/10.5296/ajfa.v9i2.11736 Abstract This study examines the nature and extent of climate change disclosures in the corporate annual reports of the listed companies in Dhaka Stock Exchange, Bangladesh. Keywords: accounting; bangladesh; change; climate; climate change; companies; disclosures; issues; journal; ltd; reports; sample
• Women in Board of Directors and Real Earnings Management: Accretive Share Buyback in Malaysia by Alquhaif, Abdulsalam Saad; Latif, Rohaida Abdul; Chandren, Sitraselvi (2017) - Regarding earnings management, previous studies of Gavious, Segev and Yosef (2012), Peni and Vähämaa (2010) and Krishnan and Parsons (2008), provide evidence that firms with a higher number of women on the board are less likely to manipulate earnings. The development hypothesis of women directors and earnings management are set out in Section 2. Keywords: accounting; board; buyback; directors; earnings; firms; gender; journal; management; share; women
• Firm Performance and Corporate Disclosure Level of Listed Companies in Nigeria by Modugu, Kennedy Prince (2017) - The combined effect of profitability and liquidity showed no significant relationship with the three components of disclosure total disclosure. Cerf's approach, with extensions and modifications, has been used widely in many other studies (for example, Wallace, 1988; Lang & Lundholm, 1993; Alsaeed, 2006; Umoren, 2009; Al-Zarouni, 2008; Qu, 2011; Ibrahim, 2014) to examine the adequacy of corporate financial disclosure in different countries. Keywords: accounting; companies; disclosure; finance; financial; firm; information; journal; level; naser; performance; reporting; reports; wallace
• Motivating Capital Investment by Using the Audit Process to Increase Financial Transparency by Cummings, J Reid; Ramirez, Gabriel G; Sharma, Divesh S; Lahtinen, Kyre D (2018) - Three audit process attributes investors use to evaluate a firm’s financial transparency are hiring high quality auditors (costs associated with higher audit fees), audit industry specialists (costs associated with industry audit specialization), and audit firms with superior reputations (costs associated with Big 4 audit firm status) Choosing to specialize in a particular industry is not a decision that audit firms take lightly, as doing so requires committing substantial amounts of time and money to train audit personnel on the Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 1 ajfa.macrothink.org 85 workings of a particular industry (Lim & Tan, 2010). Keywords: accounting; assets; audit; audit fees; auditor; capital; crisis; debt; equity; fees; finance; firm; information; investment; journal; model; quality; reits; transparency
• Towards Enhanced Tax Compliance in Kenya by LIO, SAN; MIRICHII, JOHN (2018) - Since factually every coin earned in Kenya is subject to income tax, and with the tax rate averaging approximately thirty percent, the loss in income tax revenue in Kenya could be estimated at Kenya Shillings seven hundred billion a year. The research findings lead to a conclusion that multiple rates of income tax, varied dates of making tax returns and a bulky legal tax framework make income tax compliance unforeseeable in Kenya. Keywords: accounting; finance; income; income tax; kenya; percent; rates; respondents; revenue; tax; vol
• Resourcing the Internal Audit Function: How Effective is the Audit Committee? by Ng, Shir Li; Taylor, Dennis W (2017) - Results reveal that AC size is significantly positively related to the financial resources (budget) allocated to IAF, while both AC financial expertise and AC size are significantly positively related to IAF labour hours. Dalton et al (1998) also find a positive association between AC size and the monitoring function of the board. Keywords: accounting; audit; budget; committee; company; governance; hours; iaf; journal; members; size; study; total
• Does Ownership Structure Matter for Bank Performance in the MENA Region? An Empirical Evidence by Fathi, Sara; ElBannan, Mona A. (2017) - Bank ownership and credit over the business cycle: Is lending by state banks less procyclical? Bank ownership and performance. Keywords: 052x; accounting; asian; bank; bank performance; concentration; customer; effect; factor; finance; financial; growth; internal; issn; journal; model; ownership; ownership concentration; performance; perspective; result; vol
• A Singaporean Study on Macroeconomic Variables Impacting Stock Returns by Goh, Boon Leng Mark; Talib, Ameen Ali (2017) - 5.2 Impulse Responses Impulse Responses using Cholesky (d.o.f. adjusted) was examined to determine the impact of the variables on the STI: Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 2 ajfa.macrothink.org 229 5.2.1 Impact of S$NEER on STI -100 0 100 200 2 4 6 8 10 Response of D(STI) to D(S$NEER) STI was found to respond negatively short-term to S$NEER, with a drop to -55% over 2 periods before values recover to 0%. 5.2.5 Impact of Crude Oil Prices on STI -100 0 100 200 2 4 6 8 10 Response of D(STI) to D(OIL) Crude Oil price was found to have a short-term positive impact the STI, with STI levels initially rising to a high of 67% initially, before dropping to a low of -32% in the 4th period, and eventually recovering to 0%. Keywords: accounting; impact; issn; model; oil; prices; returns; singapore; sti; stock; stock returns; trade; variables
• Is EVA an Effective Performance Measure; Evidence from Colombo Stock Exchange, Sri Lanka by Gunaratne, Yathra Mullage Chithrasheeli (2017) - Contrary to the arguments of EVA proponents, the researcher suggests the market participants of Colombo Stock Exchange to select other performance measures instead of EVA to make rational economic decisions. Later some other scholars and practitioners have empirically supported the argument of EVA proponents and many corporations have adopted EVA as a technique used in firm performance measurement and portfolio selections decisions (Teitelbaum,1997) considering that the EVA as one of the best techniques that measures the true economic profit of a firm (Swaroop and Chandra, 2009). Keywords: accounting; companies; data; eva; finance; journal; performance; relationship; return; sri; stock; study; value
• A Case Study of Voluntary Disclosure by Chinese Enterprises by Yuen, Chun Yip Desmondy; Steven, Zhang Xu; Morris, Liu Ming; Lu, Vanessa Chan (2010) - Ownership structure and corporate voluntary disclosure in Hong Kong and Singapore. Voluntary corporate disclosure by Swedish companies. Keywords: accounting; audit; board; china; chinese; committee; companies; company; directors; disclosure; finance; governance; information; journal; market; ownership; shares; structure; study; vol
• The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council by Al-shamahi, Mohammed Gubran; Abdul Manaf, Kamarul Bahrain; Al-arussi, Ali Saleh (2017) - In the context of a previous study on foreign ownership, Bokpin and Isshaq (2009) and Bokpinet al. (2015) studied the effect of transparency and corporate governance on foreign share ownership, and found that decisions of foreign investors are based on corporate governance and disclosure norms of listed firms. Previous studies on foreign ownership such as Bowman & Min, (2012), Mangena&Tauringana (2007),Miletkovet al.(2014) andMin & Bowman(2015) examined the relationship of foreign ownership and corporate governance mechanisms, the results indicate that foreign investors are more attracted to high independence of the board of directors as well as the audit committee. Keywords: accounting; audit; audit committee; board; committee; countries; directors; effectiveness; foreign; governance; investors; journal; ownership
• Use of Capital Investment Appraisal Practices and Effectiveness of Investment Decisions: A Study on Listed Manufacturing Companies in Sri Lanka by Kengatharan, Lingesiya; Clamenthu, Pirashanth Diluxan (2017) - Thus, Elumilade, Asaolu and Ologunde, (2006) explained that capital investment decision is one of the fundamental requirements; it should be properly applied to make trade-offs between expected return and riskiness that route to the effective firm performance which accelerate the economic development of a country. Many Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 2 ajfa.macrothink.org 289 changes involve capital investment decisions, which can invariably involve large sums of money over the long period. Keywords: accounting; analysis; appraisal; budgeting; capital; companies; decision; effectiveness; finance; investment; practices; study; techniques
• The Extent Use of Contemporary Management Accounting Practices and Its Effect on Operational Performance of Industrial Corporations in Jordan by Alzoubi, Naser Yousef (2018) - Study Hypotheses Based on the above presentation, and in order to answer the main question of the study What is the effect of using different contemporary MAPs on operational performance of Jordanian industrial corporations The null hypothesis summarized as follows: Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 1 ajfa.macrothink.org 375 H01: There is no statistically significant effect of applied contemporary MAPs on the rate of Total Assets turnover in the Jordanian industrial corporations. Measuring the degree of application contemporary MAPs in Jordanian industrial corporations listed on Amman Stock Exchange. Keywords: accounting; agreement; contemporary; corporations; costing; degree; management; maps; means; medium; performance; product; study
• Audit Committee and Value Relevance of Accounting Information of Listed Hotels and Travels in Sri Lanka by Balagobei, Saseela (2018) - According to the table 04, coefficient of determination for audit committee variables (R2) is 0.228922 which denotes that 22.89% of the observed variability in EPS can be explained by the differences in the variables such as audit committee size, audit committee independence, audit committee experts, audit committee meetings and firm size. According to the table 05, coefficient of determination for audit committee variables (R2) is 0.747190 which denotes that 74.71 % of the observed variability in BVPS can be explained by the differences in the variables such as audit committee size, audit committee independence, audit committee experts, audit committee meeting and firm size. Keywords: accounting; audit; audit committee; bvps; committee; information; relevance; size; sri; value
• Influence of Corporate Transparency Disclosures on Financial Performance of Listed Companies in East Africa by Wanjau, Boniface Muriithi; Muturi, Willy Mwangi; Ngumi, Patrick (2018) - A similar study by Ozbay (2009) was conducted to examine the relationship between corporate financial transparency and company performance in the Istanbul Stock Exchange (ISE) in Turkey. Specifically, the study sought to: i. To examine the influence of financial transparency on financial performance in companies listed in East Africa. ii. Keywords: accounting; africa; companies; disclosure; east; finance; governance; journal; performance; relationship; risk; study; transparency
• Effect of Corporate Social Responsibility Disclosure on Financial Performance by Hang, Ta Thi Thuy; Ngoc, Bui Thi (2018) - Corporate social responsibility disclosure plays an important role in implementation of corporate social responsibility, promotion of business’s image and creation of good impression to stakeholders. The practice and disclosure of corporate social responsibility information is considered a tool for businesses to communicate the activities of sustainable development of society. Keywords: 052x; accounting; authors; disclosure; enterprises; finance; information; issn; journal; model; performance; responsibility; responsibility disclosure; variables; vietnam; vol
• Insight into the Links among External Business Environments, Corporate Governance and Organisational Performance by Huynh, Quang Linh (2018) - A thorough review of the literature on corporate governance, external business environments and organisational performance comes to the proposed hypotheses. The research provides empirical evidence that organisational performance is the consequence of both corporate governance and external business environments that is, in turn, the causality of corporate governance. Keywords: accounting; asian; business; business environments; environments; external; finance; governance; journal; management; performance; research; theory; uncertainty
• Determinants of Corporate Environmental and Social Disclosures in China: A Comparative Study within High-profile Industries by Zhang, Junru; Djajadikerta, Hadrian Geri; Trireksani, Terri (2018) - [Research on the factors influencing corporate social disclosure]. Corporate social disclosure and determinates analysis in listed companies in China. Keywords: accounting; chemical; china; chinese; companies; company; disclosure; environmental; extent; industries; industry; information; journal; legitimacy; mining; reports; responsibility; study; utility
• Earnings Smoothing as Information Signaling or Garbling: A Review of Literature by Shabani, Nor Afifah; Sofian, Saudah (2018) - Based on the view that earnings smoothing is used to garble information by managers, Khurana et al. (2017) find positive association between real earnings smoothing and firm-specific stock price crash risk. Until recently, scholars have been trying to prove the existence of earnings smoothing activities (Beidleman, 1973; Boterenbrood, 2014; Khalil & Simon, 2014), figuring how (Atik, 2009; Francis et al., 2016) and when (Gassen et al., 2006; Gill de Albornoz & Alcarria, 2003) managers smooth earnings, characterizing earnings smoothing firms (Bigus et al., 2016; Bouwman, 2014; Z. Huang & Xue, 2016; Safdar & Yan, 2016; Silhan, 2014), and most importantly understanding the motivation (Goel & Thakor, 2003; Lambert, 1984; Trueman & Titman, 1988) and consequences (Houcine, 2017; Shubita, 2015; Tucker & Zarowin, 2006) of such behavior. Keywords: accounting; earnings; earnings smoothing; finance; firm; information; journal; managers; role; smoothing
• Risk Reporting of the Banking Sector of Bangladesh: A Time Horizon Analysis by Sarker, Niluthpaul; Nahar, Shamsun (2018) - Therefore, bank risks based on types that are disclosed and quantifiable are primarily focused on four distinct types of risk (Hitchins et al., 2001). 2.1 Credit risk Credit risk is very important and significant ramification of bank risk (Lin, 2009; Bonfim 2009, Angelini et al., 2008; Richared, 2008; Al-Tamimi and Al-Mazrooei, 2007). Keywords: 052x; accounting; banking; banks; commercial; credit risk; disclosure; finance; group; journal; liquidity risk; market risk; rate risk; risk; risk share; share; vol; year
• Triple Bottom Line Reporting in Annual Reports: A Case Study of Companies Listed on the Stock Exchange of Thailand (SET) by Suttipun, Muttanachai (2012) - Kunsirikun et al. (2004) investigated corporate environmental disclosures in the annual reports of 63 Thai firms in 1993 and 84 firms in 1999, finding a slight increase in narrative disclosures from 44% to 45%. Ratanajongkol et al. (2006) examined trends in corporate environmental disclosure by utilising content analysis of the disclosure of the 40 largest Thai firms in 1997, 1999, and 2001. Keywords: accounting; asian; business; companies; countries; disclosure; environmental; information; journal; relationship; reporting; reports; score; social; study; tbl; tbl reporting
• Earnings Smoothing and Bankruptcy Risk in Liquidating Private Firms by Shabani, Nor Afifah; Sofian, Saudah (2018) - Saudah Sofian Department of Accounting and Finance Faculty of Management, Universiti Teknologi Malaysia, 81110 Johor, Malaysia E-mail: saudah@utm.my Received: March 18, 2018 Accepted: April 10, 2018 Published: June 1, 2018 doi:10.5296/ajfa.v10i1.12904 URL: https://doi.org/10.5296/ajfa.v10i1.12904 Abstract Keywords: earnings Smooth earnings are preferred by managers and creditors because they represent a stable business operations as well as low loan default risks and thus creditors reward firms which have smooth earnings with better loan covenant terms and lower interest rates. In contrast with the view of creditors that smooth earnings signals business’ viability (e.g. Tucker & Zarowin 2006; Amiram & Owens 2017; Dou et al. 2013), recent literature finds that earnings smoothing is associated with stock price crash risk. Keywords: accounting; bankruptcy; creditors; earnings; earnings smoothing; finance; firms; income; journal; risk; smoothing; years
• Public Sector Auditing and Corruption: A Literature Review by Assakaf, Ebrahim Ahmed; Samsudin, Rose Shamsiah; Othman, Zaleha (2018) - Keywords: corruption effects, corruption, public sector auditing, SAI Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 1 ajfa.macrothink.org 227 Introduction The increasing attention of the media over the last two decades to corruption suggests that developing countries in particular are at a fragile stage. That study did not explain the mechanisms that are used by SAI to detect and prevent corruption or how SAIs reducing public sector corruption. Keywords: accounting; auditing; corruption; finance; government; journal; public; role; sector; sector auditing
• Factors Affecting Learning Performance of Accounting Information System by Lai, Yung-Yu; Chiu, AnAn (2018) - This is simply because the attitude that these students may have while using information technology is a vital aspect of their use of technology (Huffman et al., 2013).From the above discussion, the purpose of this paper is to investigate whether the learning attitude and the major in which these students enrolled will affect their learning performance of Accounting information systems. Accounting information system not only provides added value to improve the product quality and reduce the cost but also offer in-time and relevant information. Keywords: accounting; accounting information; contest; information; knowledge; learning; performance; public; students; system; technology
• Corporate Restructuring and Investment by Ndekugri, Dr. Alhassan (2018) - As a result, for a company to maintain stable profit, there must be a corresponding evaluation of the company from time to time to ensure that issues that hinder company performance are addressed. 7 8 7 0 5 10 15 20 25 Current Financial statement Previous Financial statement Detailed company description Company business plan What information do you want to be provided in order an invest decision? 28 14 0 5 10 15 20 25 30 company with less than 500 employees Company with more than 500 employees Does a company size matters in your investment decision? Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 1 ajfa.macrothink.org 139 Figure 9. information on investment performance When people invest they may want to know a certain information regarding their investment, in this survey, 14 respondents said they want to know about the risk involved and how that will affect their money, 4 respondents said they only want know the return on investment, and 19 of the respondents said they need to know other information such as time value of money of their investment, how their wealth will be maximized, and how their investment performs from time to time Figure 10. Keywords: accounting; company; decision; finance; information; investment; investors; journal; performance; research; respondents; restructuring
• Factors Affecting Undergraduate Students’ Intention to Become a Chartered Accountant in Bangladesh by Akter, Mohsina; Siraj, Muhammad Muhiuddin (2018) - 2. Literature Review Several overseas studies have been undertaken to investigate factors affecting students’ career choice in accounting (Demagalhaes et al., 2011; Uyar and Kuzay, 2011; Dibabe et al., 2015; Ahmed et al. 1997, Odia and Ogiedu, 2013) and perceptions of accounting students towards accounting profession (Byrne and Willis, 2005; Samsuri et al., 2016). An empirical study of factors affecting accounting students career choice in New Zealand. Keywords: accounting; bangladesh; choice; factors; public; students; study; universities
• The Effects of Board Compositions and Audit Committee Characteristics on Information Disclosure Practices: A Case of Singapore by Chantachaimongkol, Nunthapin; Chen, Shuwen (2018) - Again, Ghazalia and Weetman (2006) also conclude that director ownership has a vital role in transforming the extent of voluntary disclosure, but government ownership is insignificant with corporate disclosure practices in Malaysia. Theoretical framework Traditionally, a variety of theories have been employed to design an appropriate framework for allocating variables attributing to corporate disclosure practices. Keywords: accounting; audit; board; committee; disclosure; disclosure practices; et al; governance; information; information disclosure; journal; level; singapore
• Real Earnings Management: A Review of Literature and Future Research by Ali, Belal; Kamardin, Hasnah (2018) - This paper reviews the recent studies on REM to provide updated and comprehensive information about this type of earnings management. These scandals have made earnings management an important issue for different users of accounting information such as scholars, investors and practitioners (Callao, Jarne, & Wroblewski, 2014). Keywords: accounting; activities; aem; companies; earnings; earnings management; journal; management; managers; practices; rem; studies
• Models for Prediction of Industrial Insolvency of Manufacturing Companies in India by Joshi, Nisarg A; Desai, Jay M (2018) - This study provide bankruptcy prediction models for multiple industries. Investigation on bankruptcy prediction models for service industry firms can also be valuable. Keywords: 052x; accounting; analysis; asian; assets; bankruptcy; companies; data; finance; issn; journal; layer; mda; models; network; pca; prediction; ratios; sample; sickness; study; total; vol
• Religiosity and Corporate Risk-taking by Cheong, Calvin W. H. (2018) - The study uses unique micro-level data on religious devotion and distinguishes between manager religiosity, firm intrinsic religiosity, firm extrinsic religiosity, and social capital. Manager religiosity is also associated with lower firm equity risk. Keywords: 052x; accounting; asian; behavior; capital; finance; firm; issn; journal; manager; manager religiosity; ownership; religion; religiosity; risk; sample; table; taking; vol
• The Complementary Effects of Islam and CSR: Some Empirical Evidence by Cheong, Calvin W. H.; Salleh, Nurul Ilma; Fung, Chorng Yuan (2019) - Following this argument, it is possible that Shariah-compliant companies are more sensitive to changes in market expectations and will experience greater variability in firm performance i.e. they are less resilient as compared to good CSR performance companies during periods of economic distress. Given the additional restrictions imposed upon Shariah-compliant companies and the lack of voluntary disclosure on their operations and investments, Shariah-compliant companies are likely to exhibit greater levels of firm risk as compared to good CSR performance companies. Keywords: 052x; accounting; asian; business; companies; company; compliant; csr; finance; firm; islamic; issn; journal; market; performance; resilience; risk; shariah; vol; year
• Application of Credit Risk Management Model in Chinese Banks by Chen, Haojie; Huei, Ng Sin; Loong, Lew Shian (2019) - Most importantly, the KMV model assumes that the value of company assets conforms to the Asian Journal of Finance & Accounting ISSN 1946-052X 2019, Vol. 11, No. 1 ajfa.macrothink.org/ 146 characteristics of lognormal distribution, but the value of company assets generally exhibits non-normal statistical characteristics in reality. Literature Review 2.1 Literature Review There are a number of research papers that revolve around credit risk management models, but for the purposes of our study, we shall focus our attention on those that discuss the KMV model and the Zeta model. Keywords: accounting; assets; companies; company; credit; credit risk; default; default probability; kmv; kmv model; model; risk; score; value
• Motivations for Classification Shifting: A Systematic Review by Almaleeh, Nisreen Mohammed (2019) - Keywords: Earnings management, Classification shifting, Motivations, Systematic review Asian Journal of Finance & Accounting ISSN 1946-052X 2019, Vol. 11, No. 1 30 ajfa.macrothink.org 1. Introduction Earnings management is increasingly recognized as a serious accounting research concern, a considerable amount of accounting literature has been published on earnings management in the last two decades. al, 2009) Managers often have the capacity to use all of the three forms of earnings management to achieve earnings targets, making trade-off decisions among them based on the costs, constraints, and timing of each form. Keywords: accounting; classification; classification shifting; core; earnings; earnings management; expenses; firms; journal; management; shifting
• The Impact of Accounting Information System in Planning, Controlling and Decision-Making Processes in Jodhpur Hotels by Jawabreh, Omar Abdalla; Alrabei, Ali M (2012) - Abstract The study aims to identify the reality of accounting information systems in four and five-star hotels in terms of planning, controlling and decision making. After the statistical analysis of the questionnaire, appeared several key findings most important of which are that hotels in Jodhpur didn't use the methods of accounting information system in planning, control and decision making processes. Keywords: accounting; accounting information; decision; hotels; information; information system; jodhpur; making; management; planning; system
• Board Characteristics and Financial Reporting Quality among Jordanian Listed Companies: Proposing Conceptual Framework by Alzoubi, Ebraheem Saleem Salem (2012) - The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Earnings management to avoid earnings decreases and losses. Keywords: accounting; board; companies; directors; earnings; finance; firms; frq; governance; journal; management
• Accounting Researchers in Asia Pacific: A Study on Publication Productivity and Citation Analysis by Heang, Lee Teck; Yap, Ching Seng; Lim, Yet Mee; Tam, Cai Lian (2012) - The research performance of the Asian Journal of Finance & Accounting ISSN 1946-052X 2012, Vol. 4, No. 1 www.macrothink.org/ajfa 136 department was assessed based on such measures as publications in top ten accounting journals, publications in accounting journals using weighted rankings, publications in both Australian and New Zealand accounting journals, publications in unweighted accounting and non-accounting journals, and professional accounting publications. Asian Journal of Finance & Accounting ISSN 1946-052X 2012, Vol. 4, No. 1 www.macrothink.org/ajfa 135 The structure of the latter part of this paper is as follows: Section 2 reviews past empirical studies on accounting publication productivity. Keywords: accounting; accounting journals; authors; finance; hong; journal; kong; productivity; research; study; university
• Bank Failure: A New Approach to Prediction and Supervision by Cheong, Calvin W. H.; Ramasamy, Sockalingam (2019) - But as the large number of bank failures resulting from the recent crises shows, our ability to predict bank failure is severely lacking. In this paper, we construct a tool that is able to predict bank failures ahead of time with reasonable accuracy. Keywords: 052x; accounting; asian; assets; bank; bank failure; banking; failure; finance; financial; health; issn; journal; loans; mean; model; non; ratio; score; statistics; table; variables; vol; year
• Perception of Government Accountants on Current Public Sector Accounting Practices and Implementation of Public Sector Accounting Standards in the Sri Lanka by Anojan, Vickneswaran (2019) - Mean analysis confirmed that there is moderate level of public sector accounting practices and implementation of public sector accounting standards in the Sri Lanka. Correlation analysis confirmed that there is significant relationship between public sector accounting practices and implementation of public sector accounting standards. Keywords: accounting; accounting practices; accounting standards; finance; government; implementation; practices; sector; sector accounting; sri lanka; standards
• Emerging Technologies and the Accounting Profession: Trends and Topics for Practitioners to Consider by Stein Smith, Sean (2019) - Clearly every organization is different and will have unique needs associated with different emerging technologies, but practitioners will need to posses the following traits. This may seem like a technical detail more interesting to a computer science conversation, but it can have substantial effects on the pace with which different technologies and process can actually be adopted and implemented. Keywords: accounting; automation; blockchain; cryptocurrencies; information; journal; organizations; practitioners; processes; research; technology
• Assessment of the Adoption and Implementation of IFRS for Small and Medium Scale Entities (SMEs). “A Study of Selected SMEs GA East of Ghana” by Mawutor, John Kwaku Mensah; Wlliams, Siaw; Oduwaa, Mensah Anita (2019) - International financial reporting standards, Financial standards . Following this reason, the existence or nonexistence of institutions that can inspire economic players to adapt to international accounting standards could be one of the key prime movers of international accounting standards acceptance (Judge, Li, & Pinsker, 2010). Keywords: accounting; adoption; business; entities; finance; firms; ghana; ifrs; implementation; international; journal; reporting; smes; standard; study
• How do Indian Firms Cope with a Crisis? - Earnings Management Characteristics of CNX Nifty 100 Companies by Mittal, Amit; Garg, Ajay Kumar (2019) - Goel (2018) tests for MNE vs domestic difference in earnings management using reputation; Ming (2003) and Elleuch and Taktak(2015) use earnings management to trace the process of effectivising corporate governance and regulation in an emerging economy; while Safdar and Yan (2016) and Attia, Lassoud & Attia (2016) recover significant managerial outcomes employing Earnings management models. Dechow et al. (2012) continue their 1995 seminal review of earnings management models in an effort to create a more robust test to detect earnings management by assuming the eventual reversal of discretionary accruals in the very next year. Keywords: 052x; accounting; accruals; banks; crisis; data; earnings; earnings management; finance; firms; journal; management; sample; vol; years
• The Impact of Regulatory and Supervisory Structures on Bank Risk and Efficiency: Evidence from Dual Banking System by Alam, Nafis (2012) - Our results indicated that Islamic banks efficiency were positively influenced by regulations related to the second and third Pillars of Basel II, namely higher supervisory power, and disclosures while conventional banks efficiency were negatively influenced. Overall the result shows that on an average technical efficiency of conventional banks have outperformed Islamic banks efficiency except for year 2008 and 2009. Keywords: 052x; accounting; asian; banking; banks; capital; country; efficiency; finance; impact; islamic; issn; journal; regulations; risk; supervisory; system; vol; www.macrothink.org/ajfa
• Are Islamic Banks Really More Solvent Than Conventional Banks in a Financial Stable Period? by HADDAD, Achraf; EL AMMARI, Anis; BOURI, Abdelfettah (2019) - In conclusion, we found that conventional banks are more solvent than Islamic banks during a financial stable period. Keywords: Conventional banks, Islamic banks, Solvency, Comparative study, Financial stable period. Keywords: accounting; analysis; asian; banking; banks; cbs; finance; financial; ibs; international; islamic; issn; journal; performance; ratios; research; risk; solvency; solvent; study; test
• Accounting Education and Labor Market Needs by ALHUSSAIN, MESHARI (2019) - (Khalil, 2005) emphasized the existence of a real problem represented in the low efficiency and effectiveness of inputs, methods, and outputs of accounting education in Arab universities, in addition to the scarcity of accounting studies interested in assessing the reality and future of accounting education. (Al-Asmari, 2018) pointed out that the importance of university accounting education is reflected in its role in the economic development of countries, so the graduate of the accounting specialization must be qualified to help him perform his job in a positive and effective manner. Keywords: accounting; accounting education; accounting issn; axis; outputs; quality; sample; study; table; teaching; tests; universities; university
• Corporate Governance, Performance and Efficiency: Case of the Tunisian Listed Firms by KHIARI, Wided (2019) - However, a value close to zero indicates low governance efficiency. Corporate governance index and firm performance: empirical evidence from India. Keywords: accounting; board; characteristics; companies; directors; efficiency; finance; firm; governance; journal; ownership; performance
• Determinants of Successful Agri - Futures Contracts in India by Agrawal, Tarunika Jain; Sehgal, Sanjay; Agrawal, Rahul (2019) - Thus, the study identifies important market characteristics and elements of contract design that have implications for the success of agri commodities futures contract in India. Asian Journal of Finance & Accounting ISSN 1946-052X 2019, Vol. 11, No. 2 ajfa.macrothink.org/ 121 Keywords: Agriculture, Futures market, Panel Data Analysis, successful factors, Commodity transaction tax JEL Classification: G10, G13, Q02, Q18 Asian Journal of Finance & Accounting ISSN 1946-052X 2019, Vol. 11, No. 2 ajfa.macrothink.org/ 122 1. Keywords: accounting; agri; commodities; commodity; contract; contract success; finance; futures; futures contract; futures market; india; journal; market; price; size; spot; spot market; study; success; trading; volatility
• The Impact of Bank's Asset and Liability Structure on their Profitability Regardless of Monetary Policy and Size: A Panel Analysis by Wagdi, Osama; Hasaneen, Amira; Abouzeid, Walid (2019) - Also its effect is stronger on bank's profit (Borio et al 2017) according to monetary policy; There are several studies that have addressed the Asian Journal of Finance & Accounting ISSN 1946-052X 2019, Vol. 11, No. 2 ajfa.macrothink.org/ 188 relationship between bank profitability and monetary policy (Demertzis and Wolff, 2016; Borio et. al.m 2017; Altavilla et al., 2018). Still within Africa, Ayanda et al. (2013) Results revealed in Nigeria that contrary to views of some authors, Bank Size and Cost Efficiency did not significantly determine bank profitability. Keywords: accounting; assets; bank; banking; figure; finance; impact; journal; profitability; rate; ratio; return; structure; study
• How Stablecoin Implementation Can Lead to Increased Accounting Clarity and Standardization by Stein Smith, Sean (2019) - The scrutiny and backlash that the Libra initiative and Association has generated since its initial launch is indicative of this structural headwind that continues to present challenges to other stablecoins oriented and designed to either augment or entirely replace existing financial infrastructure and systems. While it is true that the majority of fiat linked stablecoins are connected to the US Dollar the potential for other fiat linked stablecoins continues to increase. Keywords: accounting; assets; conversation; cryptoasset; cryptocurrencies; currency; journal; services; stablecoins
• Sustainability Reporting by Local Councils in Coastal Regions: An Australian Study by Sciulli, Nick (2009) - Debate: Public sector sustainability reporting – implications for accountants. Total sustainability reporting disclosures by category. Keywords: accounting; councils; disclosures; journal; reporting; research; sector; sustainability
• The Effect of Intangible Assets on Financial Performance, Financial Policies, and Market Value of Technology Firms: A Global Comparative Analysis by Qureshi, Muhammad Junaid; Siddiqui, Danish Ahmed (2021) - Intangible asset has a direct positive impact on the financial performance of the technology firm H1a: Intangible assets has significant effect on ROE H1a evaluates the impact of intangible assets on ROE. Intangible asset has a direct positive impact on market value of technology firm H3a: Intangible assets has significant effect on P/E H3a evaluates the impact of intangible assets on P/E. Keywords: 052x; accounting; assets; capital; company; finance; firm; impact; intangible; issn; journal; manufacturing; market; performance; ratio; results; services; value; vol
• Bearing of Tax Audit on Tax Compliance and Revenue Generation in Ekiti State by DADA, Raphael Adekola; TAIWO, Isaac Babatope (2020) - Adediran, Alade, and Oshode (2013) examined the impact of tax audit and investigations on revenue generation in Nigeria, obtained data through structure questionnaire from the respondent, tested the hypotheses with Pearson Correlation Coefficient using SPSS output data, the study concluded that Tax audit and investigations could increase the government revenue base and can also stamp out the incidents of tax evasion in the country. A regression analysis technique was adopted, and the result revealed that certain per cent of the revenue generated in Ekiti State could be explained by the tax audit; It was also discovered that auditing access, auditing officials, an effective tax audit, non-compliance, audit fieldwork, tax audit control, and corruption affect the revenue generation by 1.188, 0.319, 0.596, 0.148, 0.157, 0.125 and 0.002 respectively; the probability value 0.00, 0.01, 0.00, 0.022 and 0.00 ˂ 0.05 showed that auditing access, auditing officials, effective tax audit and incentive were statistically significant at 5 per cent level; the probability of F-statistic value 0.000 ˂ 0.05 revealed that the model was appropriate for determining the impact of tax audit on revenue generation in Ekiti State. Keywords: accounting; audit; compliance; finance; generation; government; journal; nigeria; revenue; state; tax; tax audit; tax compliance; taxpayer
• Factors Hindering Class Attendance: Views of University Accounting Students by Wally-Dima, Lillian; Mbekomize, Christian John; Nametsegang, Alicia (2020) - Class attendance in college: A meta- analytic review of the relationship of class attendance with grades and student characteristics. Evaluation of factors influencing students class attendance and performance, American Agricultural Economics Association, 78, 499-507. Keywords: accounting; attendance; class; class attendance; classes; course; factors; journal; mean; performance; students; study; university; year; year students
• Due Process and Budget Implementation: An Evaluation of Nigerian Public Sector Auditing by Olurankinse, Felix (2012) - Furthermore, the staff of the office of the Auditor-General of the Federation must be properly trained to focus on relevant value-for-money audits in support of government budget implementation objectives. The issue of budget implementation has long been a source of concern to the public. Keywords: accounting; audit; budget; finance; government; implementation; money; process; public; value
• Disclosure Quality and Firm's Characteristics: Evidence from Iran by Takhtaei, Nasrollah; Mousavi, Zahra (2012) - Also, we find that there is a significant and negative association between disclosure quality and Firm Size. Using a sample of 80 Iranian firms on the period of 2005-2009, we first examine the relationship between disclosure quality and firm's characteristics. Keywords: accounting; current; disclosure; firm; information; journal; quality; ratio; relationship
• The Role of Macroeconomic Factors in Explaining the Cost of Capital: Evidence from a Group of Emerging Economies by Apergis, Nicholas; Eleftheriou, Sofia (2012) - The data set includes stock market prices, proxied by the country’s capital market index, while a number of manufacturing firms were used from each country along with their stock prices. Selecting Macroeconomic Variables as Explanatory Factors of Emerging Stock market Returns. Keywords: accounting; capital; finance; financial; journal; market; panel; prices; returns; stock; test; unit; variables
• A Reexamination of Firm’s R&D Expenditure Behavior by Hsieh, Hsin-Jung; Liu, Yen-Chih (2020) - In addition, in accordance with Fong et al. (2000), who discovered the impact of industry, environment, and corporate characteristics on firm R&D expenditure, this study explores different overall economic conditions (including monitoring indicator, leading indicator, real GDP growth, and different eras) and industrial characteristics (including listed firms and electronic and non- electronic stocks), in the hope that we can use the subsamples to explore the differences in %100 assets Total tax and interest beforeincome Net ROA Asian Journal of Finance & Accounting ISSN 1946-052X 2020, Vol. 12, No. 1 ajfa.macrothink.org/ 140 decision-making on R&D expenditure under different contexts. As R&D expenditure is categorized as expenses according to the current regulations, accounting statements cannot provide useful information on account of the confidentiality of information on R&D expenditures. Keywords: accounting; asymmetry; expenditure; finance; firm; future; information; investment; journal; price; r&d; r&d expenditure; research; stock; taiwan; value
• Capital Structure and Bank Performance: Empirical Evidence from Bangladesh by Molla, Md. Ibrahim (2020) - To overcome these problems, Prais-Winsten Panels Corrected Standard Error (PCSE) estimate has been applied in this study to investigate the association of capital structure and bank performance as it automatically corrects the problems of first-order autocorrelation and heteroscedasticity and offers the best estimates for the variables. Does capital structure impact firm performance: an empirical study of three U.S. sectors. Keywords: accounting; banks; capital structure; debt; finance; financial; firm; impact; journal; performance; roa; term; variables
• Operating Cash Flow and Dividend Changes as a Management Tool for Planning and Making Decision by Alqadi, Faris (2020) - Abstract The main objective of this study was to examine whether operating cash flows have incremental information beyond operating net income in explaining dividend changes for a sample of Jordanian industrial firms listed on the Amman Stock Exchange (ASE) during the period 2010-2016 Arguments for operating cash flow information suggest that it is better than accrual net income in reflecting the firm performance and in measuring the firm liquidity. Keywords: Operating cash flow, Dividend changes, Operating net income, Amman stock exchange (ASE) Asian Journal of Finance & Accounting ISSN 1946-052X 2020, Vol. 12, No. 2 ajfa.macrothink.org/ 2 Introduction Interest in cash flow reporting has increased in recent years. Keywords: accounting; cash; changes; dividend; firms; flows; growth; income; operating
• Evaluating Company Failure in Malaysia Using Financial Ratios and Logistic Regression by Yap, Ben Chin Fook; Munuswamy, Shanmugam; Mohamed, Zulkifflee (2012) - Keywords: Financial ratios, Company failures, Failure predictions, Logistic regression. Predicting corporate failure in Malaysia: An application of the Logit Model to financial ratio analysis. Keywords: accounting; analysis; bankruptcy; classification; companies; company; failure; finance; journal; model; ratios; studies; year
• Testing for Convergence in the European Insurance Sector: A Non-Linear Factor Approach by Apergis, Nicholas; Gabrielsen, Alexandros; Payne, James; Zagaglia, Paolo (2012) - It is possible, when moving away from the strict null hypothesis of full convergence, to observe convergence clusters around separate equilibrium, or even convergence clusters and divergent members in the full panel. Keywords: financial convergence, Phillip and Sul convergence method, European insurance sector ________________ * Corresponding author Asian Journal of Finance & Accounting ISSN 1946-052X 2012, Vol. 4, No. 2 www.macrothink.org/ajfa 3 1. Keywords: accounting; assets; club; convergence; emu; european; finance; insurance; integration; journal; vienna
• Blockchain: Future of Accounting Education by Samaduzzaman, Munshi (2020) - Implementation of Blockchain Technology in Accounting And Financial Services Industries As opined by Yeoh (2017), blockchain accounting technology has been used in case of identifying the transfer of ownership of assets and to maintain a ledger of financial information. Blockchain technology is a peer to peer communication that allows participants to secure the settlement of transactions, achieve the transactions and transfer of assets at low cost. Keywords: accounting; bitcoin; blockchain; blockchain technology; business; data; entry; network; system; technology; transactions
• Do Golden Parachutes increase CEO’s DESIRE to be taken over? empirical evidence from australia and united states by KR, Krishna Reddy; Abidin, Sazali; Woon, Caillor (2012) - Helwege and Liang (1996) and Graham and Harvey (2001) show that more information is known about larger firms and those that pay dividends and therefore, have a lower degree of information asymmetry. They also suggest that large firms and those with greater dividend payouts suffer less from information asymmetry, thus indicating that there should be a link between firm size, dividend payout and capital structure. Keywords: accounting; cash; ceos; change; control; debt; equity; finance; firm; journal; parachutes; payments; results; takeover; total
• Human Capital Accounting: Global Theoritical Model by LIO, SAN (2022) - As d t its cohere to Human implied tha ced or adop AA) (1973) e theory of accounting e pragmatic ers as well A. T, HCT, and designated Theory ounded on t ecisions rela yees from o ain (reposit ble. Ijiri (1975 mptions and e theory a n rationalize 75) distingu mptions in based on on isting system ctive or ded al as the exi al propositi ulate when onetheless, s on clear pr basic and po ry was critic th emphasis t among the s, and the ir 2005). Keywords: 052x; acc; account; accounting; ajfa.macro; asian; ation; basic; capital; doi.org/10.1; econom; ement; finance; firm; hra; https://d; human; issn; journal; manage; ons; organ; practice; theory; think.org/; value; vol
• Price Performance and Liquidity Effects of Index Additions and Deletions: Evidence from Chinese Equity Markets by Li, Yuelin; Sadeghi, Mehdi (2010) - Stock market liquidity and information asymmetry around voluntary earnings announcements: new evidence from France, Working Paper, Université Paris XII, SSRN. Volatility clustering and nontrading days in Chinese stock markets. Keywords: accounting; citic; day; event; finance; index; information; journal; market; price; return; s&p; spread; stock; vol
• Institutional investor and accounting restatement by Hribar, Paul; Jenkins, Nicole; Wang, Juan (2010) - We show that transient institutional investors, defined as institutions with short investment horizons and high portfolio turnover, significantly reduce their holdings in a restating firm at least one quarter prior to the quarter of the restatement announcement. While we do not expect that these institutions are less sophisticated than transient institutional investors, their investment styles are such that they are less likely to be actively engaged in information processing to make short-term trading decisions. Keywords: accounting; announcement; earnings; end; firms; holdings; information; institutions; investors; journal; market; ownership; q-1; quarter; restatement; trading; transient
• Benchmarking the First Year Accounting Unit: Evidence from Australia by Sciulli, Nick; Smith, Malcolm; Ross, Phil (2010) - Jones and Sin (2005) found that almost a third of accounting students rated communication skills highly but that more of the non-accounting students placed communication skills first. She found that the variety of accounting students studying introductory accounting caused problems, because academic staff found it problematic to change their teaching styles to teach masses of students with different entry levels. Keywords: accounting; benchmarking; case; journal; research; school; staff; students; unit; universities; year
• The Oversight Committees in Developing Countries – Public Financial Control and the Expectations Gap – Some Empirical Evidence from Sri Lanka by Yapa, Prem (2014) - Abstract This paper examines whether it is possible to implement an effective financial control through public oversight committees and establish public sector accountability and transparency as expected by the general public in Sri Lanka. This paper raises a broad question that is whether it is possible to implement an effective financial control through public oversight committees and establish public sector accountability and transparency as expected by the general public in the Democratic Socialist Republic of Sri Lanka. Keywords: accounting; accounts; committee; finance; general; government; institutions; lanka; oversight; oversight committee; parliament; public; report; sri; sri lanka
• Total Quality Management and SMPS Performance Effects in Nigeria: A Review of Six Sigma Methodology by Okpala, Kenneth Enoch (2012) - TQM implementation eliminated long service queue through prompt service, quality service were rendered and bank customers were satisfied. This will be made easy by adopting the above five broad dimensions of service quality. Keywords: accounting; clients; finance; journal; management; methodology; nigeria; performance; quality; service; sigma; smps; total; tqm
• Impact of Intellectual Capital on Performance in Audit Institutes by Gazor, Hossein; Kohkan, Farhad; Kiarazm, Amene; Rastegari, Hashem (2013) - Findings show that there is a link between human capital structural capital and relational capital (for H4 and H5). The concept of intellectual capital arises in varied disciplines. Keywords: accounting; capital; finance; human; journal; knowledge; management; new; organization; performance
• The Value Relevance of Audit report, Auditor Type and Auditor Tenure: Evidence from Iran by Banimahd, Bahman; Poorzamani, Zahra; Ali Ahmadi, Saeid (2013) - Hence, when audit report has value relevance, it can improve decisions of users about rational investment, credit, and etc. The primary and main question of this study is whether audit report, type of auditor and tenure of auditor has value relevance in the emerging capital market of Iran or not. Keywords: accounting; audit; auditor; capital; journal; market; relevance; tenure; value; value relevance
• Equity Valuation Using Price Multiples: A Comparative Study for BRICKS by Sehgal, Sanjay; Pandey, Asheesh (2010) - Equity valuation using historical price multiples In this section we evaluate standalone price multiples to find out which one of them is most efficient in forecasting prices for BRICKS. Some analysts use discounted cash flow (DCF) models to value shares, while others use price multiples such as the price earnings and price-book value ratios. Keywords: accounting; drivers; earnings; finance; journal; market; multiples; price; regressions; sales; valuation; value;  ;  
• Lean Manufacturing Practices and Environmental Performance in Malaysian Automotive Industry by Hibadullah, Siti Norhafizan; Fuzi, Nursyazwani Mohd; Desa, Auni Fatin Nadia Chiek; Zamri, Farah Izzaida Mohd (2013) - Improved environmental performance may benefit firms with respect to their consumers such as customer firm identification, customer satisfaction and loyalty leading to improved company image. Keywords: Lean manufacturing, Environmental performance, Performance measurement, Toyota Production System automotive Industry Asian Journal of Finance & Accounting ISSN 1946-052X 2013, Vol. 5, No. 1 www.macrothink.org/ajfa 463 1. Keywords: accounting; automotive; customer; industry; journal; management; manufacturing; performance; practices; production
• The Effect of Deposit Insurance on Risk Taking in Asian Banks by Enkhbold, Enerelt; Otgonshar, Batnairamdal (2013) - The key findings are as follows: Firstly, risk-taking differs across bank size and the pattern of non-linear relationship between risk-taking and bank size changes across bank risks in the presence of explicit deposit insurance. They conclude that the risk-based deposit insurance is unlikely to have an effect on bank risk. Keywords: accounting; asian; bank; countries; data; deposit; deposit insurance; finance; insurance; journal; ratio; risk; table; taking; variables
• Corporate Governance – Performance Relationship in Microfinance Institutions (MFIs) by Thrikawala, Sujani Sudhara; Locke, Stuart; Reddy, Krishna (2013) - MFI performance encompasses both financial performance and outreach. Good governance in terms of strengthening stewardship, achievement of MFIs’ primary objectives and promoting further development of the industry have been asserted as key elements in the literature pertaining to MFI performance. Keywords: accounting; board; development; directors; firm; governance; journal; management; mfis; microfinance; performance; relationship; studies
• Gender Difference in Profit Performance—Evidence from the Owners of Small Public Accounting Practices in Taiwan by Hsu, Chih-shun; Kuo, Lopin; Chang, Bao-Guang (2013) - Research on women business owners: past trends, a new perspective and future directions. Research on women business owners', in Hagen, O., Rivchun, C., and Donald L. (Ed.), Sexton Women Owned Businesses, Praeger, New York, 183-193. Keywords: accounting; business; cpa; cpa firms; female; firms; gender; journal; owners; performance; profit; profit performance; sample; service; study; women
• Theoretical Framework for Corporate Disclosure Research by Sharma, Narendra (2013) - Miller and Bahnson (2010) explained that the purpose of accounting theories was to ensure better accounting practice. Another view of accounting theory was the normative view. Keywords: accounting; accounting research; accounting theory; agency; disclosure; journal; management; research; theories; theory
• The Relevance of the Application of the Neural Approaches in the Premature Detection of the Banking Difficulties: Case of Tunisia by KAMMOUN, Niazi; CHARFI, Chanez (2013) - Finally, we have witnessed a considerable improvement on fundamental of good governance among Tunisian banks. In 2010, the part of the bad debts in the total of bank credits remained very high (12.1 %), a value which reveals a big gap if compared with the other emerging countries (Chile 2.7 %, Malaysia 3.4 %, and Turkey 3.2 %). Keywords: 052x; accounting; asian; assets; banking; banks; debts; finance; issn; journal; layer; rate; ratio; total; tunisian; vol
• Impact of Gender upon the Perception and Auditor's Job Satisfaction by Takhtaei, Nasrollah; Dezfully, Leila Abbasi (2013) - http://dx.doi.org/10.5296/ajfa.v5i1.3592 Abstract The purpose of the present research is to investigate the effects of gender upon the level of job satisfaction of auditing professionals as well as examine if gender leads to differences in their perceptions of work related attributes such as advancement opportunities and relations with supervisors. The results point out the effects of gender on 9 factors of the level of job satisfaction in audit firms. Keywords: accounting; auditors; females; gender; job; relationship; satisfaction; supervisors
• The Impact of Internal Control Quality on CFO Turnover by Wang, Ya-Fang; Huang, Yu-Ting (2013) - First, it extends previous research into company internal controls. However, no systematic evidence exists on the relationship between internal control quality and CFO turnover. Keywords: accounting; cfo; companies; control; earnings; internal; quality; turnover
• Business Ethics and Accounting Students: Australia, South Asia and East Asia by Mirskehary, Soheila; Yaftian, Ali; Wickremasinghe, Guneratne (2010) - Contrary to the findings of the above surveys, few cross cultural studies on the ethical values of business students found a similarity in the students’ ethical attitudes across countries (Preble and Reichel (1988); Kowalski and Kowalski (1990) Lysonski and Gaidis (1991) Small (1992); Okleshen and Hoyt (1996)). Lysonski and Gaidis (1991) examined the reaction of business students in the USA, Denmark, and New Zealand to a set of ethical scenarios such as coercion and control, conflict of interest, physical environment, paternalism and personal integrity. Keywords: accounting; asian; attitudes; business; countries; differences; east; ethics; journal; south; students
• The Relationship between Organization Strategy, Fixed-Assets Investment and Earnings Quality by Chang, Shen-Ho; Wang, Teng-Shih; Huang, Shaio Yan; Chiu, An-An (2013) - Regression result shows that in cost leadership strategy firm (Model3), difference between fixed asset turnover ratio and industry mean has significant positive correlation with investment risks. In industry-wise, we find that difference between fixed asset turnover ratio and industry mean plays different roles in two strategies especially we find there is competitive convergence effect in cost leadership strategy firms. Keywords: accounting; asset; asset turnover; capital; cost; deviation; firm; industry; investment; investment risks; mean; quality; ratio; risks; standard; strategy; turnover; turnover ratio
• National Budget and Debt as Measures of Public Sector Performance: Empirical Evidence from Nigeria by Onalo, Ugbede; Lizam, Mohd; Kaseri, Ahmad (2013) - Methodology The objective of this study is to investigate the relationship between budget performance and national debt as measures of public sector performance. The objective of this study is to empirically investigate the relationship between national budget and debt as measures of public sector performance. Keywords: 052x; accounting; asian; budget; budget performance; debt; deficit; finance; government; issn; journal; measurement; national; nigeria; performance; public; sector; vol
• Exploring Undergraduate Students’ Understanding of Shari’ah Based Audit: Implications for the Future of Shari’ah Auditing Labor Market in Brunei by Yaacob, Hisham; Shafeek, Fathima; Nahar, Hairul Suhaimi (2013) - While the characteristics and knowledge expected of shari’ah auditor are well understood, the students are however unsure of the primary objective for shari’ah auditing. The survey aims at gauging undergraduates’ knowledge on shari’ah auditing and their propensity of choosing shari’ah auditor as a prospect career. Keywords: 052x; accounting; auditing; auditor; brunei; finance; financial; industry; islamic; journal; shari’ah; students; vol
• Volume 1, Nos 1 and 2 by Wickremasinghe, Dr Guneratne (2010) - Australia Dr Peter J Phillips School of Accounting, Economics University of Southern Queensland, Asian Journal of Finance & Accounting ISSN 1946-052X 2009, Vol. 1, No. 2: E9 www.macrothink.org/ajfa 176 and Finance Australia Dr Michael Brian Cohen School of Economics and Finance Victoria University, Australia Associate Professor Steven Dellaportas School of Accounting, Economics and Finance Deakin University, Australia Assistant Professor Haizhi Wang Stuart School of Business Illinois Institute of Technology, USA Professor Ajay Pandey Finance & Accounting Area Indian Institute of Management-Ahmedabad, India Associate Professor Susela Devi Department of Financial Accounting and Audit University of Malaya, Malaysia Associate Professor Chun Yip Desmond Yuen Department Accounting and Information Management University of Macau, China Dr Anil Mishra School of Economics and Finance University of Western Sydney, Australia Professor Anona Armstrong Centre for International Corporate Governance Research Victoria University, Australia Dr Nada Kulendran School of Economics and Finance Victoria University, Australia Associate Professor Jane Bisman School of Accounting Charles Sturt University, Australia Assistant Professor Seoungpil Ahn Department of Finance and Accounting National University of Singapore, Professor Alan Farley School of Accounting Victoria University, Australia Professor Beverley Jackling School of Accounting Victoria University, Australia Associate Professor Jeffrey Faux School of Accounting Victoria University, Australia Dr Nick Sciulli School of Accounting Victoria University, Australia Dr Lalith Seelanatha School of Accounting Victoria University, Australia Dr Sisira Colombage Department of Accounting and Finance Monash University, Australia Dr Abeyrathna Gunesekarage Department of Accounting and Finance Monash University, Australia Dr Shrimal Perera Department of Accounting and Finance Monash University, Australia Associate Professor Prem Yapa School of Accounting RMIT University, Australia Dr Bruce Berton School of Accounting and Finance University of Dundee, UK Associate Professor Zhenyu Wu Department of Finance and Management Science University of Saskatchewan, Canada Associate Professor Michael J Tomas III School of Business Administration University of Vermont, USA Professor Marc Deloof Louvain School of Management University of Antwerp, Belgium Professor Bahram Adrangi Pamplin School of Business University of Portland, USA Associate Professor Tom Aabo Aarhus School of Business University of Aarhus, Denmark Professor Milind Sathye Discipline of Accounting, Banking and Finance University of Canberra, Australia Dr Shyam Batti School of Accounting & Finance University of Wollongong, Australia Associate Professor Jeremy Berkowitz Department of Finance University of Houston, USA Professor K.C Chen Craig School of Business California State University, USA Associate Professor, Darren Henry School of Economics and Finance La Trobe University, Australia Dr Faruk Balli Department of Economics and Finance Massey University, New Zealand Professor Christoper Wright Commerce Division Lincoln University, New Zealand Dr Samanthala Hettihewa School of Business University of Ballarat, Australia Professor Julie Cotter School of Accounting, Economics and Finance University of Southern Queensland, Keywords: accounting; australia; finance; school; university
• Perceived Importance of CPA’s Generic Skills: A Japanese Study by Sugahara, Satoshi; Coman, Roanne (2010) - With a questionnaire-based survey, their findings showed that while students tended to be aware of the importance of generic skills in the progress of education and practical experience, they perceived such skills as relatively less important than technical accounting skills. This conclusion is contrasted to the findings of Usoff and Feldmann (1998) where students believed the importance of generic skills was much lower than those of technical accounting skills. Keywords: accounting; cpa; education; faculty; groups; importance; japanese; journal; law; practitioners; skill type; skills; study; type
• Effects of Corporate Ownership Structure on Earnings Conservatism by Kung, Fan-Hua; Cheng, Chia-Ling; James, Kieran (2010) - We employ the concept of conditional conservatism to define earnings conservatism and adopt empirical models developed by Basu (1997) and Ball and Shivakumar (2005) to measure the degree of earnings conservatism. Consistent with prior studies, this point demonstrates that the companies with state and concentrated ownership structures are more likely to depend on private communication to reduce information asymmetry and to resolve agency problems internally, thereby creating a low demand for earnings conservatism. Keywords: accounting; china; companies; company; conservatism; earnings; earnings conservatism; finance; information; journal; ownership; shareholders; shares; state; structure; total
• The Initial Going-concern of Delisting Firms: An Application of Proportional Hazard Model by Wang, Chi-Chen; Lin, Yueh-Ju; Hsu, Yunsheng (2013) - We construct a survival period model for financial crisis firms, covering from the time IGCO issued till delisting. Important factors causing the higher rate of delisting risk include shorter listing years, lower rate of retained earnings to total assets, lower rate of market value of equity to total debts, and higher rate of pledged shares of directors’ and supervisors’ within 7.5 quarters after the IGCO issued, the number of delisting firms reaches its peak, consistent with the existence of self-fulfilling prophecy. Keywords: accounting; delisting; firms; hazard; igco; model; period; rate; ratio; sample; survival; time; total
• Audit Premium, Brand Name Reputation, and Industrial Specialist: An Empirical Study of Private Universities and Colleges in Taiwan by Lai, Yung-Yu; Chang, Fu-Hsing (2013) - In the past, audit fees were usually collected by questionnaire survey method. Firstly, the most important significance in the study, different from prior researches in which audit fees are paid by the client, we collect the unique data that audit fees are paid by the MOE. Keywords: accounting; audit; audit fees; colleges; fees; firms; industry; proxy; ratio; risks; specialist; total; universities; variable
• The Measurements of Firm Performance’s Dimensions by Al-Matari, Ebrahim Mohammed; Al-Swidi, Abdullah Kaid; Fadzil, Faudziah Hanim Bt (2014) - Microsoft Word - 4761-17484-1-SM-writer2-new-final.doc Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 1 www.macrothink.org/ajfa 24 The Measurements of Firm Performance’s Dimensions Ebrahim Mohammed Al-Matari Faculty of Business and Economics, Ammran University Yemen and Othman Yeop Abdullah Graduate School of Business University Utara Malaysia, Malaysia E-mail: ibrahim_matri@yahoo.com Abdullah Kaid Al-Swidi Othman Yeop Abdullah Graduate School of Business, University Utara Malaysia, Malaysia E-mail: swidi@uum.edu.my Faudziah Hanim Bt Fadzil Othman Yeop Abdullah Graduate School of Business, University Utara Malaysia, Malaysia E-mail: fhanim@uum.edu.my Received: Nov. 8, 2013 And therefore, people who are responsible for running firms must improve firm performance through new plan and procedures to update its operations and transactions during its life cycle. Keywords: accounting; asian; assets; business; evidence; finance; financial; firm; governance; journal; management; market; measurement; ownership; performance; return
• Is Good Governance a Driver of Family Firm Performance? by Colot, Olivier; Bauweraerts, Jonathan (2014) - Firstly, family governance refers to the function of control but also to the function of leadership through the strategy-making process. Secondly, family governance is composed of three principal components: the family, the board of director, and the top management. Keywords: accounting; board; family; family firms; finance; firms; governance; journal; performance; practices
• Determinants of Internet Financial Disclosure in GCC Countries by Basuony, Mohamed A. K.; Mohamed, Ehab K. A. (2014) - Additional issues and challenges for IFR include possible errors in the extraction or re-keying process, which may affect the reliability and integrity of the financial information; Generally Accepted Accounting Practice (GAAP) implications of IFR; the use of the corporate websites for many diverse purposes, which may make the location of financial information difficult; and the acceptability of Internet financial reports as alternatives to hard copy annual reports among users of corporate financial information (Laswad et al., 2000). Hence, to ensure equitable access to financial information it will be necessary to ensure that the information being reported through corporate websites is also provided through other media of financial information disclosure (McCafferty, 1995). Keywords: accounting; companies; disclosure; et al; finance; firms; ifr; information; internet; journal; reporting
• Intellectual Capital Performance of Indonesian Banking Sector: A Modified VAIC (M-VAIC) Perspective by Ulum, Ihyaul; Ghozali, Imam; Purwanto, Agus (2014) - Apendix: The list of abbreviations code of banks No Code Nama of Bank 1 AGRO Bank Rakyat Indonesia Agro Niaga Tbk 2 BABP Bank ICB Bumi Putra Tbk 3 BACA Bank Capital Indonesia Tbk 4 BAEK Bank Ekonomi Raharja Tbk 5 BBCA Bank Central Asia Tbk 6 BBKP Bank Bukopin Tbk 7 BBNI Bank Negara Indonesia (Persero)Tbk 8 BBNP Bank Nusantara Parahyangan Tbk 9 BBRI Bank Rakyat Indonesia (Persero)Tbk 10 BBTN Bank Tabungan Negara (Persero) Tbk 11 BCIC Bank Mutiara Tbk 12 BDMN Bank Danamon Indonesia Tbk 13 BEKS Bank Pundi Indonesia Tbk 14 BJBR Bank Jabar Banten Tbk 15 BJTM Bank Pembangunan Daerah Jawa Timur (Tbk) 16 BKSW Bank Kesawan Tbk Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 2 www.macrothink.org/ajfa 123 17 BMRI Bank Mandiri (Persero) Tbk 18 Keywords: Intellectual Capital Performance (ICP), M-VAIC, VAIC, Indonesian banking sector Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 2 www.macrothink.org/ajfa 104 Introduction Despite of the increasing recognition of the importance of Intellectual Capital (IC) in driving firm values and competitive advantages, accounting standards which regulate about IC is still limited. Keywords: accounting; asian; banking; banks; capital; efficiency; finance; human; indonesia; journal; performance; vaic; value
• Variables for Modeling SACCOS in Tanzania by Magali, Joseph J. (2014) - The relationship between independent variables and dependent variable was established by the regression model as follows: ePEPSSPMDPTTPFI +++++++= 6543210 βββββββ The model was expressed as follows: tt TERTSECPRIMGOSCHNOCHILDINCOMEY εβββββββ +++++++= 6443210 Keywords: accounting; credit; finance; financial; journal; kenya; management; mfis; model; performance; regression; risk; saccos; savings; tanzania; variables
• Impact of Overhead Costs Apportionment on Selling Price Determination in Malaysian Automobile Manufacturing Industry by Isa Dandago, Kabiru; Zaidi, Zulaikha Rabitah (2014) - http://dx.doi.org/10.5296/ajfa.v6i1.5291 Abstract This study aims to examine the impact of overhead cost apportionment on selling price determination in the Malaysian automobile manufacturing industry. Guy (1997: 228) explains that, “choosing the best method of overhead cost apportionment is a topic which has been dealt with many times in management accounting discourse by advocates of different methods which can be used by accountants and controllers to gauge margins and profits”. Keywords: accounting; apportionment; automotive; costs; firm; manufacturing; method; overhead; price
• Is EVA a Superior Measure of Shareholder Value? Evidence from CNX Nifty Constituent Firms by Unnisa, Nusrath; P., Janakiramudu (2014) - EVA has been found to have significant correlation with OP, Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 1 www.macrothink.org/ajfa 392 NOPAT, EPS, Market Capitalization and MVA figures of firms and the firms have created positive EVA and MVA. Issham Ismail (2006) studied if positive EVA outperform negative EVA in predicting company performance and either the period of study may play a vital role in explaining the variation of the stock return. Keywords: accounting; eva; finance; journal; nopat; study; value; variables; year
• The Impacts of Corporate Governance, Audit System to Business Failure of Going-concern Firms by Hsu, Yunsheng; Wang, Chi-Chen; Han, Tzeu-Chen (2014) - This means, based on company survival period, 36% of national listed companies have an average survival period until 19th to 23rd quarter (approx. The reason for this diversification in results is self fulfilling prophecy implies companies will fail in the Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 1 www.macrothink.org/ajfa 309 immediate years after the issuance of going concern suspect, but the actual process for a company to go from normal operations to company failure is much more complex. Keywords: accounting; companies; company; concern; delist; failure; journal; model; period; ratio; study; survival
• Stock Returns and Fundamentals in the Australian Market by Muhammad, Noor; Scrimgeour, Frank (2014) - Given the strong relations of market financial performance measures and stock returns, future studies should focus on ratio and performance measures that are related to financial risk and their impact on market rate of return. The panel data analysis shows that market based financial performance measures can better explain stock price variance compare to accounting based measures of financial performance. Keywords: accounting; analysis; company; finance; financial; firm; investment; journal; market; measures; model; performance; ratio; return; stock; value
• The Relation between Auditor Switching and Self-fulfilling Prophecy Effect: The Bivariate Probit Model by Lin, Yueh-Ju (2014) - Similarly, in equation (15) for auditor switching model, another endogenous variable for delisting is used to test its effect on auditor switching as stated in the following recursive bivariate probit model to estimate equation (14) and (15). ),,4,,,,,( FINANCESIZEBLOSSAGERGCQIGCQSWITCHfDELIST = (12) ),,4,,1( FINANCESIZEBAGEIGCQYfSWITCH = (13) Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 1 www.macrothink.org/ajfa 376 ),,4,,,,( FINANCESIZEBLOSSAGERGCQIGCQfDELIST = (14) ),,4,,1,( FINANCESIZEBAGEIGCQYDELISTfSWITCH = (15) [1.094] [0.848] [1.217] [12.676] [0] � Numbers without any bracket are for the total 557 sample � Numbers in parentheses ( ) are for the sub-sample 34 IGCQ but non-delisting firms ¶ Numbers in square brackets [ ] are for the sub-sample 167 IGCQ but delisting firms Table 4 is a correlation matrix for the delisting firms, auditor switching firms, the predicted and control variables. Keywords: accounting; auditor; client; delisting; finance; firms; igcq; journal; market; model; sample; self; switching
• Determinants of Readability of Financial Reports of U.S.-Listed Asian Companies by Kumar, Gaurav (2014) - Over the last six decades or do, annual report readability has been examined in the context of Australian companies (Lewis et al., 1986; Parker, 1982; Pound, 1981), Canada (Courtis, 1986), the UK (Jones, 1988), and the U.S. (Pashalian and Crissy, 1952; Smith and Smith, 1971; Li, 2008). Discussion of annual report readability, current earnings, and earnings persistence. Keywords: accounting; asian; companies; culture; journal; readability; reports; research; results; secrecy; table; variable
• The Compliance of Methods of Implementation of IFRS: Study of the Impact on the Relevance of Accounting Information by Ouezzani, Mohamed Rachid; Alami, Youssef (2014) - 32,01 0,0000 496,97 0,0000 72% 1,92 2012 5,35 12,51 0,0000 0,64 6,46 0,0000 0,97 29,54 0,0000 464,21 0,0000 70% 1,97 µ Before 0,68% µ After 82,25% Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 2 www.macrothink.org/ajfa 234 Table 10. 0,9620 0,20% 2,12 2001 -1,32 Keywords: 0,0000; accounting; accounting information; accounting issn; approach; countries; iasb; ifrs; implementation; method; model; relevance; results; value
• The Effective Factors in Abnormal Error of Earnings Forecast-In Case of Iran by Rasekhi, Hamid; Azarberahman, Alireza; Azarberahman, Jalal (2014) - According to the linear regression equation in 2010, the more the firm size, the more the abnormal error of earnings forecast decreases; whereas in years of 2011, 2012 and 2013 the more the firm size, the more the abnormal error of earnings forecast increase too. Published: December 1, 2014 doi:10.5296/ajfa.v6i2.5901 URL: http://dx.doi.org/10.5296/ ajfa.v6i2.5901 Abstract Purpose: the main purpose of this research is to examine the effective factors in abnormal error of earnings forecast. Keywords: accounting; age; earnings; earnings forecast; error; firm; forecast; information
• Changing Bank Income Structure: Evidence from Large UK Banks? by Jaffar, Kalsoom; Mabwe, Kumbirai; Webb, Robert (2014) - Due to the 2007-2010, financial crisis consumer confidence fell to a record low and in the process reduced consumer demand for loans which ultimately reduced banks interest income as from 2008. Deregulation which aimed to increase competition and profitability of banks dramatically changed characteristics of the bank balance sheet, from the types of assets bank hold to how they fund themselves to the source of bank income. Keywords: accounting; activities; banking; banks; finance; income; increase; interest; interest income; journal; risk
• Is Stock Price Synchronicity a Measure of Noise or Stock Price Informativeness: Evidence from Audit Pricing Model by Wang, Jim (2014) - However, they found little evidence of SYN measuring informativeness. Using this experimental setting, this study uses an audit pricing model to examine the relation between audit fees and SYN. Keywords: .0001; accounting; assets; audit; auditors; fees; market; stock; syn
• Shareholder Types, Corporate Governance and Firm Performance: An Anecdote from Indian Corporate Sector by Rajput, Namita; Joshi, Bharti (2014) - The second reason is the transfer of new technology and globally tested management practices to the firm, which help in enhancing the efficiency by decreasing operating expenses and generating savings for the firm (Ongore, K'Obonyo and Ogutu, 2011).The presence of corporate ownership has a negative impact on ROE, though insignificant. The author has formulated hypothesis to test if corporate performance varies according to the shareholder structure where the performance of the firm is taken as a function of ownership type. Keywords: accounting; companies; corporate; equity; finance; firm; governance; government; journal; ownership; performance; relationship; roe; shareholders; size; structure
• Accounting Disclosure, Governance Standards and Innovation Activities in Emerging Markets by Chen, Zhenxiang; Li, Ming; Song, Liang; Xing, Yanan; Zhang, Zhaoguo (2014) - Our research further analyzes innovation in emerging countries by considering the impact of country-level and firm-level governance standards on the relationship between accounting disclosure and innovation, as measured by R&D. Although the literature has addressed the effects of market disciplines resulted from accounting disclosure on innovation activities, there is little evidence of whether the effects of market disciplines are more important in a country with weaker investor protection and for firms with poor corporate governance. Keywords: accounting; disclosure; firm; governance; level; variable
• Real Estate Investment in Bangladesh: A Pre Liminary Study by Mahtab, Naheem; Quraishi, Maqbool Kader (2014) - Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 2 www.macrothink.org/ajfa 323 Triantafyllopoulos further discussed that lack of information regarding real assets may cause a country to be ignored by real estate investors when they draw up their international investment strategies. Survey Question Questionnaire Dear Respondent, The questionnaire is aimed at understanding the use of bank loans to acquire real estate property in Bangladesh and the various factors that effects this acquisition process. Keywords: 052x; accounting; acquisition; bank; estate; income; investment; issn; loans; property; total; vol
• Tendency to Choose Big Audit Firms: Case of Indonesia by Ardiana, Putu Agus (2014) - Previous studies about the relationship between company risks and audit quality often divide company risks as business and financial risks and measure audit quality by audit firm size. This research uses risk tolerance instead of either business risk or financial risk as a proxy of company risk. Keywords: accounting; audit; business; companies; company; earnings; firms; income; risk; smoothing
• The Impact of Treasurer’s Experience And Knowledge on The Effectiveness of The Administration and Preparation of The Accountability Reporting System in North Sumatera by Maksum, Azhar; Hamid, Rustam; Muda, Iskandar (2014) - With a reliable IT support, then the rules of financial accountability to be a contributing factor to realize the adequacy of disclosure and can create the effectiveness of internal control systems. Thus, this study is intended to look at the effectiveness of the adminisration and the preparation of the accountability reporting system of regional task force units. Keywords: accountability; accountability reporting; accounting; administration; effectiveness; experience; force; preparation; reporting; reporting system; system; task; test; units
• Stakeholders’ Perception of the Independence of Public Sector Auditors in Nigeria by Oluwagbemiga, Oyerogba Ezekiel; Zaccheaus, Solomon Adeoluwa; Olugbenga, Olaleye Michael; Oluwaseyi, Adesina Temitope (2014) - Abstract This study is an endeavor to investigate the extent to which public sector audit independence was achieved and how it was achieved in Nigeria. 1.3 Aims and objectives of the study Primarily, the study aim at investigating the extent to which public sector audit independence is achieved and how this independence is achieved in the Nigeria public sector organizations. Keywords: accounting; auditor; auditor general; auditor independence; frequency; general; independence; public; reporting; respondents; sector
• Corporate Social Responsibility and Financial Performance: A Case Study of Jamuna Bank Limited, Bangladesh by Rahman, Mohammad Mazibar; Rashid, Md Mamunar; Haque, Md Reiazul (2014) - The results show that there is no significant impact of CSR on PAT and therefore recommends the bank to critically evaluate its existing policy on performing CSR activities to increase profitability. The majority of banks in Bangladesh has committed to specified percentages of their pretax profit/net profit each year towards CSR activities. Keywords: accounting; bangladesh; business; csr; jbl; journal; performance; profitability; responsibility
• Does Ownership Identity of Blockholders Matter: An Empirical Analysis of Publicly Listed Companies in New Zealand by KR, Krishna Reddy; Abidin, Sazali; He, Wei; Sinha, Paresha (2014) - Our findings support the view that the identity of the shareholder(s) do matter in terms of company financial performance. Another group of researchers have reported the relationship between insider ownership and company financial performance is non-monotonic (Chen et al., , 1993; Keywords: accounting; assets; companies; corporate; finance; holding; identity; investors; journal; level; new; ownership; performance; proportion; shareholders; shares; zealand
• Literature Review on Corporate Governance Structure and Performance in Non-Financial Bangladesh Firms by Samaduzzaman, Munshi; Zaman, Fazluz; Quazi, Zahurul (2015) - Rouf (2012) later examined the relationship between profitability, that is, financial performance and the level of corporate governance disclosure (CGD)by listed Non-Financial firms in Bangladesh. The OLS method and multiple regression analysis were used to estimate corporate governance disclosure. Keywords: accounting; bangladesh; board; directors; disclosure; firm; governance; performance; structure
• Determinants of Disclosure Quality: Empirical Evidence from Iran by Takhtaei, Nasrollah; Mousavi, Zahra; Tamimi, Mohammad; Farahbakhsh, Iman (2014) - The existence of negative and significant association of information disclosure quality with quick assets ratio indicates that corporations with higher quick assets ratio have lower information disclosure quality and vice versa. http://dx.doi.org/10.5296/ajfa.v6i2.6693 Abstract In this study, we investigate whether quick assets ratio, current assets ratio, ROE, ROA, and financial leverage ratioas information disclosure quality determinants are related to information disclosure quality. Keywords: accounting; assets; assets ratio; current; disclosure; information; quality; ratio; return; value
• Beta Estimation in Indian Stock Markets - Some Issues by Dash, Mihir (2015) - Dev. K.-S. test p-value S.-W. test p-value NIFTY -4.17% 3.74% 0.07% 1.14% 0.0647 0.0128 0.9797 0.0012 ACC -6.61% 6.07% 0.08% 1.74% 0.0572 0.0457 0.9836 0.0054 AMBUJA CEMENT -11.17% 7.73% 0.06% 2.06% 0.0500 0.2000 0.9638 0.0000 ASIAN PAINTS -7.79% 7.27% 0.04% 1.80% 0.0801 0.0006 0.9619 0.0000 AXIS BANK -9.90% 14.60% 0.05% 2.71% 0.0578 0.0412 0.9605 0.0000 BAJAJ AUTO -4.72% 5.40% 0.06% 1.57% 0.0445 0.2000 0.9913 0.1437 BANK OF BARODA -8.93% 10.08% 0.03% 2.82% 0.0668 0.0086 0.9811 0.0020 BHARATI AIRTEL -6.39% 7.55% 0.03% 2.21% 0.0727 0.0027 0.9865 0.0181 BHEL -21.38% 8.64% 0.04% 3.11% 0.0831 0.0002 0.9005 0.0000 BPCL -8.94% 7.22% 0.08% 2.45% 0.0602 0.0282 0.9774 0.0005 CAIRN -4.95% 5.21% 0.08% 1.50% 0.0912 0.0000 0.9666 0.0000 CIPLA -8.19% 4.76% 0.00% 1.47% 0.0467 0.2000 0.9566 0.0000 COAL INDIA -10.68% 6.73% -0.03% 2.00% 0.0555 0.0591 0.9698 0.0000 DLF -12.34% 9.25% -0.11% 3.27% 0.0696 0.0051 0.9824 0.0034 DR REDDY'S -4.40% 4.67% 0.15% 1.51% 0.0511 0.2000 0.9923 0.2168 GAIL -6.77% 4.81% 0.07% 1.68% 0.0546 0.0670 0.9903 0.0933 GRASIM -4.89% 6.17% 0.01% 1.59% 0.0772 0.0010 0.9723 0.0001 Asian Journal of Finance & Accounting ISSN 1946-052X 2015, Vol. 7, No. 2 27 HCL TECH -6.96% 4.76% 0.22% 1.87% 0.0547 0.0662 0.9796 0.0011 HDFC BANK -8.43% 7.75% 0.07% 1.88% 0.0770 0.0011 0.9643 0.0000 HDFC -8.12% 6.34% 0.03% 2.00% 0.0667 0.0088 0.9784 0.0007 HERO MOTO CO -6.51% 7.14% 0.15% 1.71% 0.0668 0.0086 0.9841 0.0068 HINDALCO -7.89% 10.86% 0.17% 2.61% 0.0588 0.0352 0.9841 0.0068 HINDUNILVR -4.46% 16.03% 0.10% 1.85% 0.1430 0.0000 0.7726 0.0000 ICICI BANK -5.58% 8.88% 0.07% 2.29% 0.0694 0.0053 0.9819 0.0028 IDFC -18.05% 7.54% -0.06% 2.86% 0.0649 0.0124 0.9387 0.0000 INDUSIND BANK -8.96% 8.01% 0.09% 2.80% 0.0568 0.0482 0.9814 0.0023 INFY -23.90% 10.36% 0.05% 2.17% 0.1631 0.0000 0.6242 0.0000 ITC -6.35% 5.98% 0.05% 1.65% 0.0646 0.0130 0.9778 0.0006 JINDAL STEEL -16.70% 8.85% -0.07% 2.77% 0.0850 0.0002 0.9231 0.0000 KOTAK BANK -6.07% 8.43% 0.07% 2.06% 0.0613 0.0234 0.9741 0.0002 L&T -7.74% 6.80% 0.12% 2.19% 0.0491 0.2000 0.9897 0.0760 LUPIN -6.91% 5.01% 0.16% 1.66% 0.0482 0.2000 0.9870 0.0229 M&M -4.89% 5.50% 0.05% 1.82% 0.0378 0.2000 0.9966 0.8719 MARUTI -8.35% 7.75% 0.17% 2.00% 0.0979 0.0000 0.9417 0.0000 MC DOWELL'S -7.68% 12.53% 0.13% 2.36% 0.0784 0.0007 0.9610 0.0000 NMDC -5.39% 6.72% 0.01% 2.08% 0.0595 0.0313 0.9877 0.0302 NTPC -12.49% 4.08% -0.07% 2.01% 0.0872 0.0001 0.8831 0.0000 ONGC -6.20% 7.29% 0.01% 2.15% 0.0357 0.2000 0.9942 0.4436 PNB -7.70% 8.95% 0.01% 2.70% 0.0561 0.0542 0.9860 0.0147 POWERGRID -11.86% 4.36% 0.00% 1.62% 0.0796 0.0006 0.9090 0.0000 RELIANCE -6.49% 5.55% 0.07% 1.73% 0.0572 0.0451 0.9866 0.0187 SBI -8.17% 9.20% -0.03% 2.01% 0.0475 0.2000 0.9701 0.0000 SSLT -9.43% 15.16% 0.08% 2.85% 0.0892 0.0001 0.9153 0.0000 SUN PHARMA -5.33% 6.88% 0.13% 1.88% 0.0498 0.2000 0.9876 0.0304 TATA MOTORS -6.17% 9.54% 0.16% 2.17% 0.0744 0.0019 0.9731 0.0001 TATA POWER -16.25% 7.55% -0.05% 2.38% 0.0752 0.0016 0.9266 0.0000 TATA STEEL This was strongly advocated by Fama and MacBeth (1973), who interpreted the CAPM as implying a basic linear relationship between stock returns and market betas which should completely explain the cross-section of returns at a specific point in time. Keywords: accounting; asian; bank; beta; estimation; finance; journal; market; model; returns; risk; stocks
• VAT Increase and Impact on Consumers’ Consumption Habit by Samaduzzaman, Munshi; Ahmed, Masoom; Zaman, Fazluz (2015) - The findings reveal that VAT increase has significant impact on consumers’ consumption habit. This case study could fill the gap in the literature for consumers’ Asian Journal of Finance & Accounting ISSN 1946-052X 2015, Vol. 7, No. 1 www.macrothink.org/ajfa 106 consumption habit on VAT increase. Keywords: accounting; change; consumers; income; increase; influence; journal; power; vat
• Material Flow Cost Accounting System for Decision Making: The Case of Taiwan SME in the Metal Processing Industry by Chang, Shen-Ho; Chiu, AnAn; Chu, Chin Ling; Wang, Teng-Shih; Wang, Teng-Shih; Hsieh, Tsung-I (2015) - Product costs (positive product costs) or losses (negative product costs) are calculated on the same basis (Nakajima, 2004, 2009). Data collection is used to quantify the quantities of input and output against each quantity center based on material balance, and to collect the relevant costs for each quantity center, including material costs, energy costs, system costs and waste treatment costs. Keywords: accounting; center; company; costs; drawing; flow; material; mfca; process; process center; products; waste; water
• Business Valuation: Modelling Forecasting Hurdle Rate by K, Srinivasa Reddy; V.K., Nangia; Agrawal, Rajat (2011) - Company valuation methods: The most common errors in valuations. The methodology is divided into five phases, modeling forecasting hurdle rate, finding sales growth rate, computation of free cash flows & estimation of future free cash flows and finally determination of firm value under NRR approach. Keywords: accounting; approach; business; cash; finance; firm; flow; growth; hotels; india; journal; leela; market; model; nrr; rate; tourism; valuation; value
• Drivers of Firm’s Value: Panel Data Evidence from Indian Manufacturing Industry by Tiwari, Ranjit; Kumar, Brajesh (2015) - The four probable strategic drivers of value are assumed to be pay-out ratio, investments into R&D, investments into advertisement (brand image), and participation of foreign promoters in the organisational structure of the firm (see, Walter (1963), Chaganti and Damanpour (1991), Salomo and Strecker (2009) among others).We therefore classify value drivers into two broad categories namely financial value drivers and strategic value drivers (see, figure 4). Abstract The purpose of this paper is to classify the value drivers into broad categories and then identify the major drivers of firm’s value for Indian manufacturing industry and also work out the sectorial sensitivity of value drivers. Keywords: 052x; accounting; capital; drivers; finance; financial; firm; issn; journal; market; model; sales; share; value; value drivers; vol
• A Study on Industry Superannuation in Australia: Risk Disclosure and pre-Global Financial Crisis by Kraal, Diane; Yapa, Associate Professor Prem (2012) - Hence this paper on super fund risk disclosure should be of interest to external parties, who may have concerns about governance in this sector, and particularly to investors many of whom are attracted to superannuation because of the tax concessions. This study tests our selected methodologies to measure risk disclosure. Keywords: 052x; aasb; accounting; analysis; data; disclosure; finance; funds; industry; interest; issn; qualitative; risk; sample; standard; superannuation; vol
• Exploring the Relationship between Market Value and Accounting Numbers of Firms in Pakistan by Riaz, Salman; Liu, Yanping; Khan, Sajjad Hussain (2015) - We study the influence of book value of share, breakup value of share, earning per share, gearing ratio and dividend to equity ratio on market value of share. Bar-yousef et al. (1996) conducted the first empirical study to examine the time series relationship between market value, dividends, earnings and book value. Keywords: accounting; book; market; relationship; share; stock; value
• Non-Performing Loans in Emerging Economies – Case Study of India by Reddy, Sriharsha (2015) - Keywords: NPAs, Indian banks, Regulatory response, Global financial crisis Asian Journal of Finance & Accounting ISSN 1946-052X 2015, Vol. 7, No. 1 www.macrothink.org/ajfa 184 1. Rajaraman, Bhaumik and Bhatia (1999) explained variations in NPAs across Indian banks through differences in operating efficiency, solvency and regional concentration. Keywords: 052x; accounting; assets; banking; banks; credit; finance; india; issn; journal; loans; npas; performing; private; problem; sector; table; vol
• Perceptions towards Codes of Behaviour: A Study of CAOs, CFOs and Other Employees in Bahrain by Wakil, Amal Abdel; Shamim, Farkhanda (2015) - Section 2 presents prior international research on ethical codes, followed by Section 3 to describe data and the research methods employed in the study, whereas Section 4 details research findings. Fisher (2001) studied managers' perceptions of ethical codes and concluded that, in various ways, both COE and COC contribute to a loss of personal ethical responsibility on the part of employees. Keywords: accounting; behavior; business; codes; coe; committee; employees; ethics; journal; organizations; table
• The Relationship between Income Smoothing and Income Tax and Profitability Ratios in Iran Stock Market by Saeidi, Parviz (2012) - Independent variables included tax income and profitability ratio (ROA and ROE) and dependent variables was income smoothing variable. The findings illustrated the fact that a significant relationship exists between income smoothing and tax income and profitability ratio. Keywords: accounting; companies; income; relationship; smoothing; tax
• Impact of Corporate Governance on Social and Environmental Information Disclosure of Malaysian Listed Banks: Panel Data Analysis by Htay, Sheila Nu Nu; Rashid, Hafiz Majdi Ab.; Adnan, Mohamad Akhyar; Meera, Ahamed Kameel Mydin (2012) - Information disclosure is an important and efficient means of protecting shareholders and is at the heart of corporate governance. Asian Journal of Finance & Accounting ISSN 1946-052X 2012, Vol. 4, No. 1 www.macrothink.org/ajfa 4 It could be summed that the governance seems to be a heart of the corporation, especially in the banking sector and to have an influential power on information disclosure of the annual reports. Keywords: 052x; accounting; asian; block; board; directors; disclosure; finance; firms; governance; information; journal; management; ownership; size; vol
• Closer View at the Stock Market Liquidity: A Literature Review by Kumar, Gaurav; Misra, Arun Kumar (2015) - The results indicated that with the increased participation of foreign institutions, stock market liquidity improves. Brockman et al. (2008) studied the impact of stock market liquidity on payout decisions of the firm of the stocks listed on NYSE. Keywords: accounting; asset; commonality; evidence; finance; impact; journal; liquidity; market; market liquidity; measure; price; pricing; returns; risk; stock; stock liquidity; stock market; study; trading
• The Role of Deductive and Inductive Reasoning in Accounting Research and Standard Setting by Zalaghi, Hasan; Khazaei, Mahdi (2016) - Considering the impact of accounting theory on standard setting, the main aim of this study is to explore the role of deductive and inductive reasoning in the development of accounting theory and setting accounting standards. Furthermore, regarding the fact that accounting research is the joint connection between accounting theory and standards, the role of these reasoning approaches on the integrity of this connection is studied. Keywords: accounting; accounting theory; approach; framework; principles; reasoning; research; setting; standards; theories; theory
• Retail Investors’ Responsibilities in Stock Market Imperfection in Bangladesh: An Empirical Study by Ghosh, Protap Kumar; Ghosh, Sutap Kumar (2015) - Even after these two big crashes, Bangladesh stock market cannot represent itself stable over times. Bangladesh stock market represents itself as an imperfect one because of wide fluctuation in volume of stock trading and market index. Keywords: accounting; investors; journal; market; price; ratio; share; stock; variables
• Foreign Direct Investments and Economic Growth: The Primary Drivers by Githaiga, Peter; Nyauncho, Josiah; KABIRU, Charles Githinji (2015) - The impact of FDIs and other foreign capital flows on human capital development, technology transfer and economic growth (through the spillover effect) is extensively debated in literature. However the effect of FDI on human capital development was negative. Keywords: accounting; capital; countries; development; economic; fdi; fdis; finance; gdp; growth; investment; journal; study; trade
• CEO Succession, Investor Expectations, and Real Earnings Management by Young, Chaur-Shiuh; Lin, Yueh-Ju; Chien, Fei-Liang; Chen, Chia-Hui (2015) - This study investigates whether inverse market reaction on CEO succession will induce earnings management of new CEOs in order to protect their reputational and career prospects. However, REM is negatively associated with market expectations on CEO successions, implying new CEOs may utilize REM to reverse the first bad impressions held by investors. Keywords: accounting; car; ceo; earnings; firms; journal; management; market; new; rem; results; succession
• The Vital Role of Gender Diversity on Corporate Outcomes: The Need for Empirical Studies Concerning Frontier Markets by Badru, Bazeet olayemi; Bagudu, Hauwa Daniyan; Alfa, Abdulmumini Baba; Alfa, Abdulmumini Baba (2015) - Corporate board gender diversity and stock performance: The competence gap or institutional investor bias?. Corporate boards gender diversity and earnings persistence: The case of French listed firms. Keywords: accounting; board; companies; company; directors; diversity; female; finance; gender; gender diversity; governance; journal; management; performance; women
• Strict and Uniform Shariah Screening Methodologies in Selected Asian Countries in Comparison with the United States by Kasi, Umayal; Muhammad, Junaina (2016) - This index represents the performance of Shariah Compliant firms from both Hong Kong and China (Hong Kong Islamic Index, 2007).The number of Shariah-Compliant firms listed on the Hong Kong Islamic Indices can be seen in Table 1as follows: Hence, this study is significant, in that it fills the research gap, by investigating the possibilities of generalising the implementation of strict and uniform Shariah screening methodologies, amongst these nations and globally. Keywords: accounting; compliant; finance; financial; firms; hong; index; islamic; journal; kong; malaysia; methodologies; screening; securities; securities commission; shariah; shariah screening; year
• The Approaching Lease Accounting Regulations and Its Impact on Cost of Capital, "A Practical Case Study" by El-qawaqneh, Shahir; Binti Laili, Dr Nur Hidayah; Bin Khairi, Dr Khairil (2015) - The company’s capital consists of debt, recorded financial lease, owners' equity, plus the capitalized amount of operation lease. We also find some evidence that the positive change in WACC is related to the increasing portion of capitalized lease liability accompanied with an escalating decreeing in conventional debt, in certain conditions, this result suggests that financial lease has the advantage over conventional debt. Keywords: accounting; capital; capitalization; credit; debt; equity; finance; financial; journal; lease; operation; risk
• Does Ownership Structure Affect Jordanian Companies’ Tendency to Practice Earnings Management? by Ramadan, Imad Zeyad (2016) - Research design issues in earnings management studies. Microsoft Word - 8537-31000-1-SM-writer2-new Asian Journal of Finance & Accounting ISSN 1946-052X 2015, Vol. 7, No. 2 281 Does Ownership Structure Affect Jordanian Companies’ Tendency to Practice Earnings Management? Keywords: accounting; accruals; earnings; earnings management; finance; investors; journal; management; ownership
• The Impact of Audit Quality Features on Enhancing Earnings Quality: The Evidence of Listed Manufacturing Firms at Amman Stock Exchange by Almomani, Mohammad Abdallah (2015) - Both issues of earnings quality and audit quality are among the hot topics in academic and professional environments (Krishnah, 2003). To identify the effect of audit qualities on enhancing earnings quality of listed manufacturing firms in Amman Stock Exchange. Keywords: accounting; audit office; audit quality; auditor; client; coefficient; earnings quality; features; fees; firms; journal; manufacturing; study
• Gender Diversity of Audit Committees and Audit Fees: Evidence from Chinese Listed Companies by Xiang, Rui; Qin, Meng; Peterson, Craig A (2015) - Chapter Ⅲ Directors and Board of Directors, §6 Special Committees of the Board states(52)in listed companies, the board of directors can form audit committees based on the decision of general meetings, most of the audit committee’s members should be independent directors, and at least one member should have accounting expertise. It also lists clearly (54)the major responsibilities of audit committees. Keywords: accounting; audit; audit committee; audit fees; chinese; committee; companies; control; diversity; fees; gender; journal; management; state
• EVA and the Impact of the Macroeconomic Variables: Evidence from the Jordanian Manufacturing Companies by Ramadan, Imad Zeyad (2016) - The study concluded that there was statistically significant negative effect for Government Tax on industrial companies, while the Government Expenditure had had a positive impact on the industrial sector, also the results have confirmed the effect of the Fiscal Policy on the industrial sector. Tkalec and Vizek (2009) aimed to study the effect of macroeconomic variables on the productivity of industrial companies in Croatia. Keywords: accounting; companies; company; eva; journal; manufacturing; performance; value
• Decision-Making Based on Human Resource Accounting Information and Its Evaluation Method by Avazzadehfath, Fariborz; Raiashekar, H. (2012) - This paper explores firstly, whether investment decisions are affected by human resource accounting information disclosed in the financial statements or not? The results indicate that human resource accounting (HRA) information disclosure in financial statements is relevant and affect on the optimal investment decisions. Keywords: accounting; decision; hra; hypothesis; impact; information; investment; journal; making; resource; value
• State of Information Technology Auditing in Botswana by Nkwe, Nugi (2011) - Introduction Many companies the world over are aware of the benefits of information technology auditing which results in efficiency and profitability. IT auditing has had a relatively short yet rich history when compared to auditing as a whole and remains an ever changing field (Wikipedia encyclopedia) Keywords: accounting; adoption; auditing; auditors; botswana; business; finance; government; ict; information; journal; lot; technology
• The Ability of Traditional and Modern Performance Indicators in Interpreting the Phenomenon of Earnings Management: Evidence Manufacturing Firms in Amman Stock Exchange by Momani, Mohammad A (2016) - Testing Branch Hypotheses Table (6) shows the results of testing the ability of each modern performance indicators in interpreting earnings management phenomena of the listed manufacturing firms in ASE. Abstract The study objects for investigating the ability of traditional and modern performance indicators in interpreting earnings management phenomena of listed manufacturing firms in the Amman Stock Exchange (ASE), using adjusted Jones method for measuring earnings management. Keywords: accounting; earnings; earnings management; earnings quality; economic; firms; indicators; market; performance; performance indicators; phenomenon; quality; study; value
• Information Quantity and Order in Students’ Tax Research Judgements by Gelardi, Alexander (2010) - In all cases, there is a primacy or force toward primacy effect for long evidence series. Studies using experiments in accounting contexts to examine order effects may not typify tax decision making because these studies tended to use balanced information sets of two or four pieces of information (cues) in the experimental tasks. Keywords: accounting; belief; cues; effect; evidence; model; order; recency; series; tax
• Can the Audit Committee Provide Better Oversight of Listed Companies? – An Efficiency of Cash Holdings Perspective by Huang, Cheng-Li; Chen, Wei-ju; Lu, Kuo-Chen (2016) - We use the difference in difference method to investigate the effect of oversight of audit committee from 2007 to 2010 the company with audit committee for sample. The empirical results show that the using efficiency of cash holdings isn’t promoted after setting up audit committee with all listed companies sample. Keywords: accounting; audit committee; cash; cash holdings; change; establishment; finance; financial; firms; holdings; journal; market; market value; otc; tse; value
• Japan’s Corporate Governance Structures and Credit Rating by Zemzem, Ahmed; Zouari, Samir (2016) - The study of the history of credit rating agencies may be divided into three distinct periods as mentioned by Lawrence (2013). The study shows that good governance is associated with higher credit rating and suggests that active monitoring by independent directors and better disclosure mitigate agency conflicts and protect the interests of debtholders. Keywords: accounting; agency; board; credit; directors; effect; finance; firm; governance; journal; ownership; rating; variables
• Corporate Governance and Sustainability Disclosures and the Assessment of Default Risk by James-Overheu, Christina; Cotter, Julie (2009) - Dye, Ronald A., (1985), “Disclosure of non-proprietary information”, Journal of Accounting Research, Vol. 23, Issue 1, Spring 1985, pp.123-145 Francis, Jere R., Khurana Inder K. & Pereira Raynolde (2003), “The role of accounting and auditing in corporate governance and the development of financial markets around the world”, Asia-pacific Journal of Accounting & Economics, Vol. 10, Issue 1, June 2003, pp. 1-30 Gompers, P., Ishii, J. and Metrick, A. (2003), “Corporate governance and equity prices”, The Quarterly Journal of Economics, Vol. 118, Issue 1, February 2003, pp. Our index is centred on corporate governance disclosures related to the ASX Principles of Good Corporate Governance and Best Practice Recommendations. Keywords: accounting; audit; board; companies; credit; disclosure; finance; governance; journal; proportion; ratings; report; risk; size; sustainability; vol
• Review of the Relationship between Board Attributes and Firm Performance by Kakanda, Mohammed Mahmud; Salim, Basariah; Chandren, Sitraselvi (2016) - The impact of corporate governance and board performance on the performance of public listed companies in Malaysia. Hence, this study aimed at reviewing the findings of previous studies that examined the relationship between corporate board of directors’ attributes and firm performance, and to identify possible gaps in literature. Keywords: accounting; attributes; board; directors; finance; firm; governance; journal; performance; relationship; review; size
• Does the Type of Material Information Matter to CEO Turnover? by Wang, Ya-Fang (2016) - Abstract Using hand-collected data to obtain the nature of material information, I examine whether and how the likelihood of CEO turnover is associated with material information disclosures. One major limitation of this study is that approximately 99% of companies in Taiwan discloses material information, indicating that material information disclosures are a very common phenomenon in Taiwan. Keywords: accounting; ceo; companies; company; disclosures; finance; information; journal; material; material information; research; turnover
• The Dynamics Application of Accounting Standards, and Its Importance in the Measurement with Fair Value & Disclosure by AL Frijat, Yaser (2016) - Christensen & Nikolaev, (2013) study aimed to identify the circumstances in which application of fair value accounting is used as an alternative to historical cost, and the study concluded that application of fair value accounting on non-current intangible assets such as equipment and buildings are with a lesser degree of efficiency for decision-makers if are not compared with historical cost. Although improvements witnessed by financial reports environment in the last periods in light of (IAS/IFRS)adoption, and its importance in fair value measurement, but developing Asian Journal of Finance & Accounting ISSN 1946-052X 2016, Vol. 8, No. 2 ajfa.macrothink.org 48 Jordanian public Companies environment is deemed narrow and limited faced by many challenges, represented by lack of active markets that have larger role in accurate measurement and disclosed of fair value, and the lack of qualified accounting personnel to deal with changes in fair value that should be given attention and follow up its use and implementation. Keywords: accounting; application; companies; disclosure; ias; ifrs; importance; journal; measurement; standards; study; value
• Association between Degree of Leverages and Firm Value by Gupta, Pradeep Kumar; Kumar, Shailendra; Verma, Piyush (2016) - Abstract This study aims to empirically investigate the association between degree of leverages, operating and financial, and firm value in the context of India, one of big ten emerging markets (Garten, 1997). The independent variables, degrees of operating and financial leverage, and a market price-based dependent variable, called price-earnings ratio as a proxy of firm value, are taken to examine this relationship by using standard ordinary least square regression Asian Journal of Finance & Accounting ISSN 1946-052X 2016, Vol. 8, No. 1 ajfa.macrothink.org 213 models at the levels of individual firm and portfolio of firms. Keywords: accounting; dfl; dol; finance; firm; journal; leverage; markets; model; ratio; study; total; value
• The Relationship between Financing Policy, Earnings Management and Governance Practices by Lin, Yi-Mien; Chien, Hsiu Fang (2016) - Earnings Management and Future Performance ititititititititit ReturnMBSizeBetaRTEMDTEMROA εββββββββ ++++++++=+ stanRet __ 765432101 ititititititititit ReturnMBSizeBetaRTEMDTEMROA εββββββββ ++++++++=+ stanRet __ 765432102 Panel A Variable Expected Sign All Sample Financing Sample coefficient t value coefficient t value Intercept -0.1885 Keywords: .0001; 052x; accounting; accruals; ajfa.macrothink.org; asian; audit; coef; coefficient; companies; directors; earnings management; finance; financing; financing sample; firms; governance; industry; issn; journal; non; panel; sample; seos; t value; table; value; value coef; variable; vol; year
• Share Repurchases: A Literature Review by Jena, Sarthak Kumar; Mishra, Chandra Sekhar; Rajib, Prabina (2016) - So by undertaking share repurchase firms increase the proportion of leverage in the capital structure of the firm, as a result the overall cost of capital is reduced. Then, share repurchase is gradually spread to other countries like UK, Canada, etc. Pertinent to its growing importance, over the years an enormous literature has emerged that deals with many facets of share repurchase. Keywords: accounting; buyback; companies; company; earnings; finance; firms; hypothesis; journal; liquidity; management; market; offer; repurchase; share; share buyback; share repurchase; spread; stock; study
• The Reliability of Corporate Quarterly Financial Reports in Malaysia: Post-MASB 26 Evidence by Ku Ismail, Ku Nor Izah; Abdullah, Shamsul Nahar (2010) - In the Unites States of America (US), requirements to issue quarterly reports were introduced in 1970 when companies were required by the Securities and Exchange Commission (SEC) to publish quarterly income reports on Form 10Q. Keywords: Quarterly reports, MASB 26, Reliability of interim reports, Earnings management, Exceptional items. Keywords: accounting; board; companies; earnings; eis; journal; management; masb; method; ownership; quarter; reporting; reports
• The Effect of Problem-Based Learning on Learning Outcomes of Accounting Students by Hsu, Chih-shun; Yen, Sin-hui; Lai, Wei-hung (2016) - Section 3 describes the research method, including the experiment design and survey on the perceptions of PBL students and the results are presented in Section 4. They found PBL students were less prone to depression, anxiety, hostility and somatic complaints than were their traditional counterparts. Keywords: accounting; control; difference; education; group; journal; knowledge; learning; outcomes; pbl; problem; score; students; teaching

• The Behavior Patterns of Investors in Thailand Stock Market by Tran, Quan Nhu (2017) - Stock prices then reflect their true value and Thailand stock market becomes the yardstick of the economy’s wealth and helps enterprises to raise capital for business activities. Therefore, this research seeks the answer to the question: What is the behavior of individual investors in Thailand stock market? Keywords: behavior; finance; information; investment; investors; journal; market; risk; stock; thailand
• Determinants of Banks’ Capital Structure: Evidence from Vietnamese Commercial Banks by Tin, Tong Trung; Diaz, John Francis T (2017) - The determinants of bank capital structure. Determinants of bank capital structure in developing countries: Regulatory capital requirement versus the standard determinants of capital structure. Keywords: banks; capital; debt; finance; journal; leverage; market; model; ols; paper; size; stock; structure; study; vietnamese
• Profitability of Style based Investment Strategies: Evidence from India by Subramaniam, Srividya; Sharma, Gagan; Sehgal, Srishti (2017) - However, the inadequacy of beta in explaining stock returns paved the way for the development of multifactor asset pricing models most popular of which are Fama and French (1993), Carhart (1997), Fama and French (2015). Profitability Research on mature markets documents a positive relationship between profitability and stock returns (Haugen & Baker, 1996; Cohen, Gompers & Vuolteenaho, 2002; Fama& French, 2008;Artmann, Fintner & Kempf, 2011; Fitzpatrick & Ogden, 2009; Novy Marx, 2013).However, it is found that more profitable firms have lower returns for the Indian market (Sehgal &Subramaniam, 2012; Singh & Yadav, 2015). Keywords: bivariate; factor; fama; finance; investment; journal; market; momentum; returns; size; stat; stat adj; stock; strategies; α t
• The Impact of “Offer for Sale” by Existing Shareholders in an IPO on Initial Aftermarket Performance by Che Yahya, Norliza; Mohd Rashid, Ahmad Husni; A. Rahman, Ibrahim; Mohd Rashid, Siti Norbaya (2017) - The results of the cross-sectional multiple regression show that the lock-up period is significantly positive in explaining IPO initial returns, but the lock-up ratio is not. The two figures indicate that collectively, all explanatory variables tested in this study are able to explain at least the 24.88 percent and 15.45 percent of the variations in IPO initial returns (offer to open price) and IPO initial return (offer to close price), accordingly. Keywords: finance; investors; ipo; ipos; journal; lock; market; offer; price; return; sale; shares; study
• The Price Discovery Mechanism between Sovereign Bond and Sovereign CDS Market: Studies in Selected Countries by Nguyen, Ngan Bich (2017) - The paper, in one hand, is in the same idea with this work in term of the unreplacable role of sovereign CDS markets though on the other hand casts the doubt on if CDS market forces the bond market’ spreads to bound or not. https://doi.org/10.5296/ajfa.v9i2.11636 Abstract This paper employs the multivariate VAR model to examine the mechanic work of price discovery process between sovereign CDS market and the associated sovereign bond market in contexts of five European and Asian countries, including Vietnam, Korea, Portugal, Italy and France from the beginning of 2008 to the end of April, 2017. Keywords: bond; bond market; cds; cds market; credit; discovery; market; paper; price; results; run; sovereign; test
• Macroeconomic Variables and Stock Market Returns in Sri Lanka by Balagobei, Saseela (2017) - Dependent variable of this study is stock market return measured by All Share Price Index (ASPI) and All Share Total Return Index (ASTRI) and independent variables are macroeconomic variables, such as Interest Rate (IR), Inflation Rate (INF), Exchange Rate (ER), Factory Industry Production Index (FIPI) and money supply (MS). Interest rate and factory industry production have negative influence on stock market return in Colombo Stock exchange while inflation rate and exchange rate have positive influence on stock market return. Keywords: exchange; inflation; interest; market; rate; returns; stock; stock market; variables
• Cost Efficiency of Indian Life Insurance Service Providers using Data Envelopment Analysis by Dash, Mihir; Muthyala, Arpana (2018) - The Indian life insurance industry grew at 22.55% new business premium in 2015-16, due to the high growth in the group single premium policy, with private insurers growing at 17.63% and Life Insurance Corporation of India registering a higher growth at 24.74%.The industry is expected to grow at15% for the next five years. Much of the literature on insurance efficiency is for developed countries, particularly for the US insurance industry (Gardner and Grace, 1993; Yuengert, 1993; Cummins et al, 1999; Greene and Segal, 2004). Keywords: companies; efficiency; insurance companies; life; life insurance; market; period; premium
• Institutional reforms and development of corporate governance and banking system in China by Ratnam, Vijayakumaran; Vijayakumaran, Sunitha (2017) - https://doi.org/10.5296/ajfa.v9i2.12382 Abstract The aim of this paper is to review China‟s institutional reforms and consequent development of Chinese corporate governance system and financial system. For example, Dixon et al. (2015) show that share ownership by managers in private Chinese firms increases their incentive to involve in risk taking activities such as international expansion. Keywords: banks; china; china‟s; chinese; companies; finance; firms; governance; government; journal; market; ownership; shares; state; system
• The Impact of Working Capital Management on Firm Value: Evidence from a Frontier Market by Arachchi, A.N. Hingurala; Perera, Wasantha; Vijayakumaran, Ratnam (2018) - Her results show that improvements in working capital efficiency through reduction in working capital investments leads to higher firm value and this relationship is more pronounced in the financially constrained firms suggesting that firm value significantly increases by efficient management of working capital in financially constrained firms. Keywords: Working capital management, firm value, Tobin Q, cash conversion cycle, panel data, Sri Lanka. Keywords: accounts; capital; days; finance; firm; journal; management; market; value; wcm; working
• The Role of Political Risk and Financial Development Factors on Sukuk Market Development of Gulf Cooperation Council (GCC) Countries by Al-raeai, Arafat Mansoor; Zainol, Zairy; Abdul Rahim, Ahmad Khilmy (2018) - On the contrary, the growing importance of Sukuk markets around the world has recently opened a new avenue of research into the challenges and factors which the development of Sukuk market is facing. The aim of this paper is to propose a conceptual model/framework for investigating the role of political risk and financial market on Sukuk market development in Gulf Cooperation Council (GCC). Keywords: banking; bond; countries; development; finance; gcc; islamic; journal; market; market development; risk; stock; sukuk
• On Malaysian House Price Growth: The Effects of Market Sentiments by Cheong, Calvin W. H.; Ngui, Lisa L. H.; Beatrice, Shella Georgina (2018) - We call this proxy NewStock and expect it to be positively correlated with housing market sentiments. We call this proxy ResMort and expect it to be positively correlated with housing market sentiments. Keywords: 052x; asian; finance; house; housing; housing market; index; journal; malaysia; market; prices; property; returns; sentiment; vol
• Volatility spillovers between New Zealand stock market returns and exchange rate changes before and after the 1997 Asian financial crisis by Choi, Daniel FS; Fang, Victor; Fu, Tian Yong (2010) - R tZ 1 and FX tZ 1 denote the standardized innovations of NZ stock market returns and exchange rate changes, respectively. There is consistent unidirectional volatility spillover from NZ stock market returns to NZD/AUD in the two sub-periods. Keywords: exchange; exchange rate; market; rate; returns; stock; stock market; volatility
• Volatility Spillover Effect of International Crude Oil Futures and China-Russia Stock Market: A Multivariate BEKK-GARCH Model Based on Wavelet Multiresolution Analysis by Wu, Maoguo; Lu, Daimin (2019) - This study mainly studies the relationship between international crude oil futures price and the comprehensive stock index and industry stock index of China and Russia, and compares the impact of international crude oil futures price on the stock market of the largest importer and the largest exporter of crude oil to explore the Asian Journal of Finance & Accounting ISSN 1946-052X 2019, Vol. 11, No. 1 ajfa.macrothink.org 64 linkage between crude oil futures price and stock market, and puts forward policy implications based on the empirical results. Crude oil futures price is the embodiment of crude oil price, and stock market is the barometer of macro-economy. Keywords: brent; brent crude; china; crude; crude oil; futures price; index; market; oil futures; prices; stock
• Random Walk Hypothesis for Stock Prices in Fiji by Sami, Janesh (2021) - t root test w m walk. [0.15, 0.85] Asian om January ncial Statist of stock p , 1979) and t provide de wever, these ncorrectly c as been wid nit root test tudy employ structural br for two stru an informat ks on the ser k developed 03) showe power and i the unit roo cept and has reak agains function that     jtj y 1  alue of TB We estima ation, and e ces and T is tU is an in he correspo wise 0. Keywords: 052x; asian; break; fiji; finance; issn; journal; lee; market; model; narayan; popp; prices; random; root; stock; test; unit; walk
• Exploring the Herding Behaviour in Indian Mutual Fund Industry by Patro, Archana; Kanagaraj, A. (2012) - It is also shown that herding funds benefit from this activity during the quarter in which they herd. Lakonishok Schleifer Vishny (LSV, 1991) can be regarded as the pioneers of empirical tests of herding behaviour this is the measure most widely used in empirical studies of mutual fund herding behaviour. Keywords: = =; behavior; finance; funds; herding; indian; investors; market; measure; stock; study; trading
• Does Nifty Index Inclusion (still) Convey Information? A Comprehensive Empirical Examination in the Indian Stock Market by Parthasarathy, Srikanth (2019) - Table 1 reports a partial price reversal to the tune of -1.5% suggesting more tests to examine the price pressure around ED. The results show that index addition effect, though significant, has diminished in the second sub period. Keywords: car; complete; effects; finance; index; journal; market; mean; nifty; period; price; return; stocks; volume; window
• Do Malaysian spin-offs create value? by Zakaria, Nadisah; Arnold, Glen Christopher (2012) - Overall, these findings imply that spin-offs produce positive abnormal share returns in the short-run period; but fail to demonstrate abnormal performance after adjusting for size in the long-run period. The test-statistic for the monthly buy and hold abnormal returns,  21 , ttBHAR during the clustering period from t1 to period t2 is calculated as:   Keywords: firms; journal; malaysia; market; mas; offs; period; returns; run; size; spin
• Explaining Value vs. Growth Fallacy: An Empirical Study for Indian Market by Vasishth, Vibhuti; Sehgal, Sanjay (2019) - With reverse conditional sorting process; i.e. constructing value based portfolios within growth based groups, we observe that 2.39% P.M. and 0.83% P.M. is earned by low P/E-high growth portfolio and high P/E-low growth portfolio respectively. Further, an analysis of risk adjusted returns shows that profits of univariate earnings growth based portfolios, and high value portfolio is captured by Capital Asset Pricing Model. Keywords: earnings; factor; growth; high; journal; low; market; portfolios; returns; stocks; strategies; value
• Impacts of Unusual Market Activity Announcement on Stock Return: Evidence from The Ace Market in Malaysia by Chen, Dylan Siong-Yain; Liew, Venus Khim-Sen (2019) - However, the CAR at the day 30 was still ended with 21% lower than announcement day. Recently, Gerace et al. (2014) analysed stock market manipulation on the Hong Kong Stock Exchange. Keywords: announcement; car; companies; day; days; market; price; return; stock; study; uma; 𝐴𝐴𝑅
• Macro Effect of Global Financial Crisis on Nigerian Economy by Ojo, Oke Micheal; Boboye, Ajayi Lawrence (2012) - Ajakaiye and Fakiyesi (2009) used computable general equilibrium (CGE) methodology to examine the impact of global financial crisis. FDI is an important variable in any study on global financial crisis because the inflows of foreign capital or international financial assets have the tendency to import inflation from home country to the host country as a result exposes the host country to global financial crisis. Keywords: crisis; error; investment; market; model; nigeria; stationary; test; value; variables
• Neoclassical Asset Pricing Tests in Sri Lanka: A Structural Empirical Review by Nanayakkara, Neelangie Sulochana; Nimal, P. D.; Weerakoon, Y. K. (2020) - Celik (2012) provides a comprehensive review of asset pricing models and historical stream of empirical research from the year 1974 to 2005. According to Fama (2015) time series and cross sectional regression approaches to test asset pricing models are not competitors but complements. Keywords: asset; asset pricing; cse; finance; journal; lanka; market; model; pricing; returns; sri; stock
• The Role of Gold Prices and Interest Rate in Stock Index: Insights from Vietnam by Using the Autoregressive Distributed Lag Approach by Huong, Le Thi Minh; Trung, Phan Minh (2020) - They confirm that gold is a safe storage asset for stock markets in Singapore, Thailand, England, and the US, except for Japan, Indonesia, and the Philippines. With Panel Data, the research described the long-run negative impact of interest rates on stock markets in 7 selected countries in Africa Sarahan from 1990 to 2003 (Balogun, Dahalan, & Hassan, 2016). Keywords: gold; index; interest; journal; market; model; price; rate; relationship; run; stock; stock market; variables
• The Impact of Coronavirus (COVID-19) on New York Stock Exchange by Tlemsani, Issam; Alghamdi, Maram; Balhareth, Samar; Alsaleh, Fatimah; Alomair, Munira; Alqutaim, Munirah (2020) - There are several factors that can either positively or negatively impact the value of stock markets, such factors are financial, economic or health (Tlemsani and Matthews, 2010). Unfortunately, stock markets cannot make any improvements until this pandemic is contained. Keywords: coronavirus; data; investors; journal; market; new; nyse; stock
• Corporate Diversification and Financial Performance: A Review of Literature by Doaei, Meysam; Ahmad Anuar, Melati B.; Adb Hamid, Nik Intan Norhan (2012) - y suggests t Mat Nor, 200 perational s ) developed nown as its ersification s nused resou ificity (C. A mmed from d firms act creases (Edw eases the m tory pricing es market p er, 1973). h threshold o ement Inter J. S. (199 ademy of Ma Effects of nal firms. Keywords: 052x; asian; business; diversif; entropy; ersification; fication; finance; firm; foreign; http://dx; index; ink.org/ajfa; inter; issn; journal; mance; market; ment; new; ormance; perform; review; risk; studies; theory; total; vol; x.doi.org/10
• Financial Markets between Efficiency and Persistence: Empirical Evidence on Daily Data by FLIFEL, Kaouther (2012) - s some con s reason we summarize ndex returns on that sugg ment in whi e returns fr d in the pric etween the o s challenge correlation existence o istical V sho following re Merval there e markets. Therefo statistic R/S ponent (0Keywords: 052x; asian; finance; http://dx; hurst; ink.org/ajfa; issn; journal; long; market; memory; non; process; returns; series; statistic; stock; term; test; time; unit; value; vol; x.doi.org/10
• The Global Financial Crisis’ Impact on Short-term Performance of IPO: The Case Study of New Zealand Firms’ IPOs by Fauzi, Fitriya; Hewa-Wellalage, Nirosha; Locke, Stuart (2012) - the start of cline in the s toward n compared t ecurities ins e and stock Coefficien 0.0010 -0.0009 -0.0020 -0.0026* -0.0027* (Omitted) 1380 5.89 0.2074 level, and ***sig Asian M ** 19.6 4 -4.7 5.5 9 -7.3 which it co regression coefficient eacts negati started to i ncurred loss sses can p For examp f 2007, and e market in new securit to short-term struments. The nvestors e market over 20 days, the sing two gnificant the null ), and so he years exhibit ss, as the dence is me crisis orld and tributing negative ever, the ce; thus, mance of e global ver. Keywords: 052x; abnorm; abnormal; asian; average; beta; crisis; day; days; finance; firms; ink.org/ajfa; ipos; issn; journal; mance; market; model; new; price; returns; ritter; short; sig; stock; study; term; trading; vol; www.macrothi; zealand
• A Vector Autoregressive Market Model for IT Sector Stocks in India by Dash, Mihir; S., Rita (2021) - Some very extreme negative daily returns and some very extreme positive daily returns were observed for several sample stocks: Mindtree (-18.36%), Persistent Systems (-16.64%), NIIT Technologies (-12.22%), Mastek (+15.18% and -10.32%), Sonata Software (+14.57% and -10.90%), Hexaware (+12.89% and -15.65%), Nucleus Software Exports (+13.12%), Zenstar Technologies (+12.74%), Cyient (+11.67%), Firstsource (+11.42%), and L&T Infotech (+11.32%). 0.0314 0.6378 -0.8777 0.3736 0.1638 Max. 6.41% 4.21% 5.24% 4.93% 8.23% 11.32% 9.18% 9.12% 5.42% Min. -5.57% -4.66% -4.15% -7.77% -7.26% -7.68% -18.36% Keywords: journal; market; model; returns; stocks; tech; vector
• The Impact of the Covid-19 epidemic on Saudi stock market performance using a Regression model and Granger causality test-Empirical Analysis by Panjwani, Dr.Kavita; Riaz, Mohammad Arif (2021) - The economic disruption caused by the pandemic has dramatic effects on stock markets, particular stock, defense, and material (such as crude oil and gold) markets, making prediction a far more difficult task during the pandemic. stock market around the world hit badly with this pandemic and many big companies struggling to survive in the COVID19 times. Keywords: cases; corona; covid-19; finance; granger; journal; market; pandemic; return; saudi; stock; stock market; total
• Performance of Shanghai Composite Index and Sector Indices in The Beginning of Novel Coronavirus Pandemic by Liew, Venus Khim-Sen; Puah, Chin-Hong (2021) - Feb 3 Feb to 5 Mar 5 Mar to 23 Mar Shanghai Stock Exchange Composite -2.75 -7.72 11.84 -13.40 Energy sector -2.78 -8.44 6.47 -12.53 Materials sector -3.57 -8.64 14.14 -16.44 Industrials sector -2.96 -9.03 15.45 -13.74 Consumer discretionary sector -3.28 -8.91 13.44 -19.45 Consumer staples sector -3.53 -6.95 15.88 -11.36 Health care sector -2.08 -3.22 10.97 -11.33 Financials sector -2.73 -7.28 8.13 -14.85 Information Technology sector -3.07 -9.72 23.42 -15.32 Telecommunication services sector -4.79 -9.99 20.92 -5.69 Utilities sector -2.04 -7.68 8.68 -7.86 Note: China stock market was closed from 24 January to 2 February 2020 for Chinese New Year holidays. See, among others, Yuan and Gupta (2014), Casalin (2018), Chia and Teng (2018) and Wagner et al. (2019) for significant positive holidays, new year and Chinese new year effects in China market. Keywords: china; chinese; composite; consumer; covid-19; finance; index; indices; lockdown; march; market; new; note; sectors; stock
• FII and Its Impact on Stock Market: A Study on Lead-Lag and Volatility Spillover by Rajput, Namita; Chopra, Parul; Rajput, Ajay (2012) - Asymmetry in stock market volatility has its own significance, which implies volatility rises after negative shock than positive shock of similar magnitude. Stock market volatility tends to be persistent; that is, periods of high volatility as well as low volatility tend to last for months. Keywords: fiis; finance; financial; information; investment; journal; market; model; nifty; price; results; run; sample; series; stock; stock market; test; volatility
• Firm Performance and Market Behavior during First Wave of COVID-19 in Egypt: Panel Data Analysis by Elewa, May; Nagy, Shwikar (2021) - (Shawer and Al-Ajlouni, 2018) explore the relationship between the profitability measured by return on investment ROI, return on equity ROE and net profit NP and stock market prices of the Petrochemical Industry Firms in Saudi Arabia during the period 2008-2015. The study measures the COVID-19 spread in terms of cumulative cases, new cases, cumulative deaths and new deaths, while abnormal return of stock market is measured according to the market model. Keywords: capital; effects; market; model; price; profit; stock; stock price; test; trade; trade volume; value; volume
• A Study on the Effect of Macroeconomic Variables on Indian Mutual Funds by Mihir Dash; Rita Samikannu (2022) - Thus, ificantly Banking conomic o be very Reliance wth were e returns sitive to o Equity ces, and nd to be 64.71% sidered. Thus, s. mes were f returns ll of the th Plan - bles, but eturns of crude oil s Fund - NR/USD. Keywords: ajfa.macro; apt; asset; canara; capm; factors; finance; fund; growth; issn; journal; market; model; mutual; plan; price; reliance; returns; risk; robeco; sam; scheme; think.org/; vol
• Fundamental Analysis and Its Predictive Power in Forecasting Stock Returns: Evidence from Dow Jones Industrial Average (DJIA) by Tanevski, Stefan (2022) - Meth This pa The sec period o we con financia were di operatio The lat perform (correla As men account perform fundam Append by Reim Econom Basic re SR = β β8*D/E SR,i,t = SR - sto to incre Price + β0 - (in potheses on our litera ationships b hesis 1: Th and stock ret hesis 2: Th and leverage hesis 3: Th nd DPS) an hod aper aims at condary dat of 2009 - 2 ntinue to wo al statement iscussed in onal aspects tter will be ming a desc ation and mu ntioned prev ting inform mance of a mental analy dix we list a mer (2009, p metric Mod egression eq β0 + β1*CR E + ɛ, where =[(P,i,t – Pi,t ock return, ease/decreas Dividends) ntercept), the ature review between stoc here is no s turns here is no s e ratio (Deb ere is no si nd stock retu t exploring a used in th 2016. The xperimental mmad and A d, Stock P nd Chadega s per Share a dness, it is ex heory indic uggesting t ces are not e ratio and h as dividend eturns. Keywords: ajfa.macro; analysis; asian; assets; book; earnings; equity; finance; issn; journal; market; model; price; ratio; returns; share; stock; table; think.org/; vol
• Financing by the Encashment of Trade Receivables through Trade Receivable Exchange in Bangladesh by Md. Moniruzzaman; Dr. Annuar Md Nassir; Dato’ Dr. Mohd Padzil Hashim (2023) - ed, a client netary valu t. cess of the here multip upplying fi e of the inv d debtor (th the remain functional d e sends purc ers the good ate accepts e accepted b of CMSME ciers submit ubmitted by uates the o he expiry of e study, the es TRX Wor uyers, suppl ables, buyer model is to nventionally been appro ancing from tep procedu ies online t bank acco ue of the i exchange le investor rm) receiv voice value he buyer) p ing balanc definition of chase order ds or servic the goods bill on the T E from buye their online financiers b ptions and f specified p 43 findings are rk? liers, and f rs to approv enable CM y. A due fra oved accord m another le ure, the mod to become ount is set invoice ma verifies th rs buy slice ves funds i e (say, 90% pays its in e available Dorfleitne ved the acc in the opin e firms and i addition to draft facilit ) can enhan -a-days vari supply cha ined transa n to factorin ctoring. Keywords: 052x; ajfa.macro; asian; ation; banglad; bangladesh; bank; bdt; business; capital; cash; country; credit; crore; data; days; desh; digital; econom; exchange; finance; financial; financing; fintech; firms; form; ict; iii; india; invoice; issn; journal; large; market; ment; note; period; receivab; services; source; stock; study; table; think.org/; trade; trx; vol
• Diversifying Investments in Gulf Countries to Mitigate Financial Risks from Oil Price Volatility: A Case of Kuwait by Noora F. Alibrahim (2024) - s in externa dependence ning that, t my but also s cial stability h work is s ing more ef oil export nding of exi y to mitiga y. Furthermo milar proble tely prepar a larger per wable sourc by discussi economies s to shed li nergy indus iew e oil resour ve been tran ulnerable t oil-exportin heavy depen e: investme conomic sta C and Kuw ture of the d the paths t endence on he GCC inc il. The gap b versify its Through in ccounting 946-052X 16, No. 2 think.org/ dynamic ntial for h graphs acts and vernment venue in t oil has where oil ercent of 88% of l and its ines the ough oil ough any l burden services between revenue ncreased investm more ba diversif promote revenue creating 4.2 Imp Kuwait Kuwait which i growth. Keywords: ajfa.macro; analysis; asian; cou; data; diversif; doi.org/10.1; econom; economic; energy; fication; finance; gcc; gdp; global; growth; gulf; hat; https://d; ies; ing; investm; issn; ity; journal; kuwait; market; ment; non; oil; policy; price; public; research; revenue; risks; sectors; stability; study; think.org/; versification; vol
• The The Impact of Intangible Assets on Company Performance in Georgia by Kalashyan, Gurgen (2025) - They cularly in in oftware, an h focus on ccounting 946-052X 17, No. 1 think.org/ he skills n capital, creative country ing that e assets. ike intellect y but are ina financial m e assets, resu 6) further el gibles contr disclose an ancial metr he true eco r market do also explor market return ents, investo ervaluation rschey and R ible assets and Darroug d to be unde ing value to persist unti ading to an gest that th gh-innovatio in R&D an assets. Keywords: ajfa.macro; asian; assets; ble; brand; capital; ccounting; com; compan; e assets; effect; ent; finance; financial; firm; georgia; growth; impact; intangib; ion; issn; journal; key; mance; market; ntangible; ormance; perform; property; r&d; results; ria; roa; role; specific; study; tests; think.org/; value; vol
• An Analysis of Volatility Co-Movement between Malaysia, US, UK and Japan Stock Markets by Albaity, Mohamed Shikh; Shanmugam, T. (2012) - W d by the ot xogenous m ng in leadi rable influen s of the stoc ends and no ce of anoth significant onomy to f rms, and th icipation ha gree of co-m Finance & Ac ISSN 19 2012, Vol. www.macrothi 000-2008 LCI Malaysia) 4 4 4 9 9 9 .72 .72 .72 23 24 24 5-day, 10- nates in the according to in the first xogenous s innovations f the foreca em to have m pan tops the variances f With such a m ther market market amon ing stock m nce on Mal ck markets o market is her market. ement practi k market vo and Metho mpling Desig study inve markets in th hocks. Keywords: -0.0; 052x; asian; ation; daily; day; effects; equity; error; ets; finance; financial; garch; http://dx; ink.org/ajfa; issn; japan; journal; malaysia; market; model; mov; returns; risk; shocks; stock; study; table; var; vements; vol; volatility; world; www.macrothi; x.doi.org/10
• The Ex-Dividend-Day Price Behaviour of Blue-Chip Stocks: International Evidence by Isaksson, Anders; Islam, Md Mohibul (2013) - See Table I in Appendix) and of short-term trading (p-value: 0.000) before the ex-dividend day but no indication of short-term trading (p-value: 0.593) after the ex-day. Ex-dividend day stock price behavior: Discreteness or tax-induced clienteles?. Keywords: day; dividend; drop; journal; market; mean; median; prices; stock; trading; value
• Futures Trading and Spot Market Volatility: Evidence from Indian Commodity Markets by Sehgal, Prof Sanjay; Rajput, Namita; Dua, Rajeev Kumar (2012) - There are diverse viewpoints relating to stabilisation and destabilisation in spot market prices because of derivative trading. This process will help in stabilizing spot market volatility. Keywords: commodities; commodity; effect; futures; futures market; futures trading; journal; market; market volatility; price; spot; spot market; spot volatility; trading; volatility; volume
• A Feasibility Analysis of Black-Scholes-Merton Differential Equation Model for Stock Option Pricing by Using Historical Volatility : With Reference to Selected Stock Options Traded in NSE by A M, Dr. Rekha Kala; Pandey, Dr Shyam Lal Dev (2012) - In dustries Lim Rs.15586.76 ustries Limi italization o difference k options n price % 1 4 1 1 ntly from th e in prices k the accurac es as the nu rupee prices r put option ption shows prediction t option. nd Gonedes, r stock prices (1980). Keywords: 052x; asian; black; cal; case; data; date; days; difference; expiry; finance; ink.org/ajfa; issn; journal; market; merton; model; nse; option; price; pricing; rate; risk; scholes; std; stock; table; time; value; vol; volatility; yield
• Long Memory Property In Return and Volatility: Evidence from the Indian Stock Markets by Maheshchandra, Joshi Prashant (2012) - Therefore, long memory models such as FIGARCH are recommended for volatility forecasting. Section 2 presents a brief review of previous work on long memory property in return and volatility. Keywords: arfima; journal; market; memory; model; property; return; series; stock; volatility
• Futures Trading and Its Impact on Volatility of Indian Stock Market by Rajput, Namita; Kakkar, Ruhi; Batra, Geetanjali (2013) - This paper studies the impact of introduction of index futures on spot market volatility on S&P CNX Nifty using Bi-Variate E-GARCH technique. Pericli and Koutmos (1997) analyse the impact of the US S&P 500 index futures on spot market volatility. Keywords: derivatives; finance; futures; futures market; index; index futures; journal; market; model; price; spillover; spot; stock; trading; volatility
• Valuation of a Holding Company: The Case of SK C&C IPO by Ahn, Seoungpil; Hong, Gwangheon; Kim, Doseong; Park, Young-Seok (2012) - Next, our baseline valuation for share holdings is estimated based on the 31.8% ownership of SK C&C on SK holdings and the market capitalization of SK holdings. This intention for future merger will increase the stock price of SK C&C relative to that of SK holdings. Keywords: c&c; company; governance; holdings; ipo; krw; market; sk c&c; structure; value
• An Empirical Investigation of the Profitability Anomaly in the Indian Stock Market by Sehgal, Sanjay; Subramaniam, Srividya (2012) - et pricing te regressions of the mark Rpt – Rft is e return (Rft Rft is the exc error term, cept) is a m sensitivity APM implie returns. The si maly within stocks(P1) e firms are cant which ariation in co e to the con for ROE. Keywords: 052x; beta; dividend; factor; fama; finance; firm; french; http://dx; issn; journal; market; payouts; portfolio; pro; returns; risk; size; stock; value; vol
• Day of the Week Effect, Annual Returns and Volatility of Five Stock Markets in Southeast of Asia by Kazemi Lari, Mansooreh; Mardani, Abbas; Aghaeiboorkheili, Mohsen (2013) - Is there a monthly effect in stock market returns?: Evidence from foreign countries. The day of the week effect patterns on stock market return and volatility: Evidence for the Athens Stock Exchange. Keywords: day; effect; finance; indonesia; journal; malaysia; market; returns; stock; thailand; week
• Evidence to Support Multifactor Asset Pricing Models: The Case of The Istanbul Stock Exchange by Unlu, Ulas (2013) - H0 = All αi coefficients obtained from multiple factor models are equivalent to zero (αi = 0). Not all αi coefficients obtained from multiple factor models are equivalent to zero (αi ≠ 0). Keywords: factor; factor model; finance; french; journal; market; model; pricing; returns; risk; stock
• Managing Financing Risks in Financial Institutions by Jamaludin, Azahari; Ahmad, Fais (2013) - The objectives of this research is to understand the various types of business risks attached to different businesses as well as to acknowledge that business risk can be mitigated as well through various methods. Business risk is defined as risk arises out of uncertainty of future events. Keywords: banker; business; financing; industry; investor; management; market; result; risk
• Determine the Effects of Fundamental Variables and Mass Behaviors in Changes of Stock Price (Evidence from Iran Stock Exchange) by Largani, Mahmoud Samadi; Zamani, Mohsen; Imeni, Mohsen; Kaviani, Meysam (2013) - The analysis of statistical tests show that firstly there is statistically a significant relation between stock price bubbles and size of the company at the confidence coefficient of 95 percent; secondly, there is statistically no significant relation between stock price bubbles and industry type of the company. Our results show that there is not significant relation between stock price changes and fundamental hangs. Keywords: bubbles; changes; exchange; market; price; relation; stock; tehran; value; variables
• Information Content of CSI 300 Index Futures during Extended Trading Hours: Evidence from China by Chen, Yugang; Lin, Karen Jingrong (2013) - First, we provide evidence of information efficiency of the newly incepted futures market in China, adding to the existing knowledge about futures markets in emerging economies such as Hong Kong and Korea (Cheng et al., 2004; Chong et al., 2012; Min & Najand, 1999). 2. Literature Review and Hypothesis Development Information content as well as information efficiency of futures market has attracted enormous academic attentions because prices of futures are usually used as measures of market expectations. Keywords: futures; futures market; index; information; market; overnight; return; spot; trading
• Beta of Viet Nam Listed Computer and Electrical Company Groups during and after the Financial Crisis 2007-2011 by Huy, Dinh Tran Ngoc (2013) - The using of DFL or degree of financial leverage can be a vital reason for a decrease in asset beta value of 0,44 from equity beta value of 0,72. Statistical results for Vietnam listed Electrical and Electronic Equipment companies Statistic results Equity beta Asset beta (assume debt beta = 0) Keywords: asset; beta; companies; equity; firms; market; nam; viet
• Capital Structure Choice of Bangladeshi Firms: An Empirical Investigation by Alom, Khairul (2013) - So it concerns managers in identifying some factors influencing capital structure decision by which they can benefit to make an optimal mix of debt and equity to maximize firm’s value. This study attempts to analyze the impact of firm specific factors on capital structure decision in a systemic manner and provides practical and applicable guideline for anyone who wants to have insight of the topic. Keywords: assets; book; capital; debt; finance; firm; journal; leverage; market; structure; value
• An Application of the Weak Form of the Efficiency Hypothesis on the Saudi Arabia Stock Market after Tadawul by Hokroh, Mohammed (2013) - (2007) proposed that IT may have contributed to the improvements of the SSM efficiency, their study was not aimed at examining Tadawul impact on efficiency. (2010) found that personal confidence in the ability to beat the market is independent of opinion on market efficiency. Keywords: efficiency; market; price; ssm; stock; tadawul; test
• The Volatility of Market Risk in Viet Nam Listed Consumer Good, Wholesale and Retail Company Groups during and after the Financial Crisis by Huy, Dinh Tran Ngoc (2013) - Difference MAX 1,273 0,640 0,6334 MIN 0,391 0,126 0,2657 MEAN 0,653 0,352 0,3002 VAR 0,1069 0,0307 0,0761 Note: Sample size : 9 Comparison among 3 groups of consumer good, wholesale and retail companies In the below chart, we can see among the 3 groups, equity beta value of the wholesale/retail group is the lowest (0,65) while asset beta value of the consumer good group is the lowest (0,34). Statistic results Equity beta Asset beta (assume debt beta = 0) Keywords: asset; asset beta; beta; companies; consumer; equity; firms; market; mean; risk; values
• Macroeconomic Variables, Firm Characteristics and Stock Returns during Good and Bad Times: Evidence from SEA by Alam, Nafis (2013) - However, our analysis is based on stock portfolio returns rather than the stock indices return. Our empirical findings showed that the significance relationship between macroeconomic variables and portfolio stock returns were not consistent for both sub-periods. Keywords: factors; finance; high; journal; low; market; oil; period; portfolio; price; relationship; return; stock; stock market; stock return; sub; term; variables
• Abnormal Audit Fees and Stock Price Synchronicity: Iranian Evidence by Serenjianeh, Mikaeil Mansouri; Takhtaei, Nasrollah (2013) - Therefore, the three variables of ABFEE, logAsset, FIRMAGE has a significant impact on stock price synchronicity, by contrast, table 6 shows that the quality of the audit firm and the logarithm of the number of firms in the industry, has Asian Journal of Finance & Accounting ISSN 1946-052X 2013, Vol. 5, No. 2 www.macrothink.org/ajfa 251 no relationship with stocks prices synchronicity. Regression analysis shows that the determining factors in stock price synchronicity variables explain 0.257 % of variation of dependent variable. Keywords: audit; fees; information; market; price; price synchronicity; stock; stock price; synchronicity
• Momentum Effect: Evidence from the Vietnamese Stock Market by Alphonse, Pascal; Nguyen, Thu Hang (2013) - The less individualistic investors who act less like the overconfident/self-attribution biased ones tend not to make investment decisions that produce momentum profits and reversals in long-term horizons. Departing from JT (1993)’s argument, on the assumption that the mean returns of individual stocks are stationary, Conral and Kaul (1998) assert that momentum profits are mainly driven by the cross-sectional variation in mean returns, that is, momentum reflects compensation for risk. Keywords: asian; average; finance; journal; market; momentum; percent; period; profits; returns; stock; week; wml
• Market Reaction to Bonus Announcement in Post Global Financial Crisis Era: Evidence from India by Joshipura, Mayank Harshvadan; Unnisa, Nusrathunnisa (2013) - While MCAR remains statistically significant for the remaining length of announcement window post announcement day (AD+1 to AD+10), it fizzles out at a steady pace with MCAR of 1.41% on AD+10 and only 44 out of 74 firms with positive MCAR value compared to 2.18% MCAR with 55 firms with positive MCAR value on AD+1. However, several studies, both in developed and developing markets, report significant positive abnormal returns on and surrounding announcement and effective days. Keywords: announcement; bonus; day; journal; market; returns; stock
• Time Varying Macroeconomic Risk and Industry Stock Returns: Empirical Evidence from India by Govindan Nair, Saji Thazhungal (2013) - Bivariate GARCH M model of Fang and Miller (2002) measured the time varying conditional variances of stock market returns and currency depreciation in five emerging East Asian markets. Abstract This paper searches further evidence for the relation between the time varying macroeconomic conditions and stock returns in India using monthly data during the post 2000 period. Keywords: economic; factors; finance; india; industry; journal; market; rate; returns; sector; stock; stock returns; study; time; variables
• Do Institutional Investors Herd in Emerging Markets? Evidence from the Taiwan Stock Market by Shyu, Jonchi; Sun, Hsin-Ming (2010) - The Taiwanese government opened markets for foreign institutional investors in 1983. By 2003, all restrictions on investment positions for foreign institutional investors had been removed. Keywords: behavior; day; finance; herding; information; investors; journal; market; securities; stock; taiwan; trades; trading
• Price and Volume Effects Associated with Index Additions: Evidence from the Indian Stock Market by Parthasarathy, Srikanth (2011) - 4.4 Price pressure hypothesis The effective day or the actual day of inclusion abnormal stock returns are expected to significantly positive due to the action of index funds. Chen et al (2004) states that greater interest for the Asian Journal of Finance & Accounting ISSN 1946-052X 2010, Vol. 2, No. 2: E4 www.macrothink.org/ajfa 57 index stocks causes greater information production. Keywords: car; day; index; information; journal; market; period; price; results; return; stocks; volume; window
• The Influence of Behavioral Factors in Making Investment Decisions and Performance: Study on Investors of Colombo Stock Exchange, Sri Lanka by Kengatharan, Lingesiya; Kengatharan, Navaneethakrishnan (2014) - Waweru et al. (2008, p.37) identify stock investment decisions that an investor can be impacted by the others: buying, selling, choice of stock, length of time to hold stock, and volume of stock to trade. Most of the variables from all factors have moderate impacts whereas anchoring variable from heuristic factor has high influence and choice of stock variable from herding factor has low influence on investment decision. Keywords: decisions; factor; finance; herding; influence; investment; investment performance; investors; market; performance; stock; variables
• Vietnamese Money Supply M1 and Stock Price Behavior by Nguyen, Chu V. (2014) - With regard to the short-run dynamic Granger causality between stock price and the money supply, the partial F-statistics in equation (5) reveals is a bi-directional Granger-causality from the money supply to the stock price, i.e., the stock price responds to both the its own lagged changes and the lagged changes of money supply as well. From this logic, some post-Keynesian economists argue that changes in stock prices actually cause changes in money supply M1 and not the other way around. Keywords: equity; index; journal; market; money; money supply; policy; price; results; state; stock; stock price; vietnamese
• Multifactor Explanations of CAPM Anomalies: An Evidence for Indian Stock Market by A, Balakrishnan (2014) - Chan, Karceski, and Lakonishok (1998) take on an empirical work which examines the stock returns’ relation with fundamental factors, technical factors, and macroeconomic factors and they find a significant influence of fundamental factors (accounting based variables) and technical factors (prior returns) in stock returns while poor relation is observed between stocks returns and macroeconomic factors. _____________ 1 Size effect means small stocks (small size companies) outperform big stocks (big size companies) by providing extra-normal returns. He also tests the seasonal effect in stock returns and finds that there is January effect in stock returns and abnormal returns are heavily registered in January. Keywords: capm; fama; french; journal; market; model; portfolios; returns; size; stock; value
• An Exploratory Study of Herd Behaviour in Vietnamese Stock Market: A New Method by Truong, Ngoc Hong; Le, Minh Uyen (2014) - Introduction Herd behavior is a popular phenomenon in financial markets and in stock markets of advanced and emerging markets. In additions, it provides a clearer picture about herd behavior in stock markets. Keywords: behavior; deviation; finance; herd; herding; journal; market; method; return; stock
• Evaluation of Return Mean and Stock Surplus Return Mean with Two Approaches of Traditional Risk and Downside Risk by Abbasi, Ebrahim; Sadat Hoseini, Hanieh; Mohammadzadeh, Amir (2014) - And (Harvey,C.R, 2002). tested downside risk indexes in mediated and non-mediated conditions. They suggested that downside risk indexes determine the conditions of developing markets better. Keywords: beta; capm; downside; journal; market; mean; return; risk; semi; statistic; stock; test; variance
• Causal Relationship between Macro-Economic Indicators and Stock Market in India by Tripathy, Naliniprava (2011) - Further the Granger-causality test shows evidence of bidirectional relationship between interest rate and stock market, exchange rate and stock market, international stock market and BSE volume, exchange rate and BSE volume. Keywords: Macroeconomic variables, Stock market, Ljung-Box Q test, Unit Root test, Granger-causality test JEL Classification: G1, G7, C32 Asian Journal of Finance & Accounting ISSN 1946-052X 2011, Vol. 3, No. 1: E13 www.macrothink.org/ajfa 209 1. Keywords: bse; exchange; exchange rate; finance; granger; journal; market; rate; series; stock; stock market; test; variables; volume
• Determinants of Value Creation of GCC Firms -An Application of PLS SEM Model by Kumar, Rajesh (2014) - The final latent construct of value creation is designed with formative indicators of average stock returns, earnings to book value of equity and ratio of market value to book value of the firm. Value creation for a firm is a function of identifying and managing value drivers which have the greatest impact on value creation. Keywords: book; capital; creation; equity; finance; firm; growth; journal; market; profitability; returns; risk; stock; value
• Country Risk Modeling in Indonesia: An Empirical Approach by Adnan, Muhammad; Maemunah, Sri; Ismiyanti, Fitri; Purwono, Rudi (2015) - Further, the βt at the equation (3) is substituted with the equation (4), so that we can obtain the time-varying beta market model applied to estimate the model of Indonesia country risk. Inflation, Indonesia economic growth, the Fed, and MSCI ACWI IMI return have negative and significant influence to country risk. Keywords: beta; country; country risk; economic; indonesia; influence; journal; market; rate; return; risk; stock
• Comparative Economic Performance and Stock Market Performance: Some Evidence from the Asia-Pacific Region by Bano, Sayeeda; Kumarasinghe, Sriya; Tang, Yih Pin (2011) - Thailand 9.65 Singapore 7.24 Sri Lanka 0.645 10 Australia 8.18 Thailand 7.19 Thailand 0.641 11 Hong Kong 6.48 Australia 6.42 Philippines 0.628 12 China 6.38 New Zealand 5.42 Indonesia 0.578 13 New Zealand 3.13 Hong Kong 3.64 India 0.498 14 Japan 0.69 Japan -0.06 Pakistan 0.478 Overall, countries that have higher economic growth rates tend to have higher MSCI returns, although their rankings may not be the same under these two indicators. Nonetheless, the results suggest that for balanced and sustainable well-being, economic growth in the less-developed countries need to be matched by concomitant improvements in social welfare, income distribution, transparency and accountability. Keywords: asian; countries; country; finance; gdp; gdp growth; growth; japan; lanka; market; msci; performance; returns; sri; stock
• An Examination of Home Advantage (Bias) Argument in the Indian Financial Markets by Seghal, Sanjay; Tripathi, Neeta (2010) - Both DFIs and FIIs seem to be attracted by equity market returns, thereby acknowledging positive feedback trading strategy but the latter seems to react faster than the former and thus negating the home advantage argument. Some document that foreign investors are at a disadvantage trading and holding foreign securities since they have less information about foreign markets and institutional settings (see Frankel and Schmukler, (2000), Kang and Stulz (1997)), while others support the view that foreign institutional investors can never be at a disadvantage trading relative to domestic institutional investors as they have better international expertise and talent and have considerable local resources (See Brennan Cao (1997), Seasholes (2000), Grinblatt and Keloharju (2000)). Keywords: cause; debt; equity; fii; granger; home; inflows; investors; market
• Risk Anomaly: A Review of Literature by Joshipura, Mayank; Joshipura, Nehal (2015) - Short selling constraints, does not allow arbitrageurs to correct the inflated prices of high volatility stocks immediately by going long on ignored low risk stocks and shorting high risk stocks, which in turn, leads to underperformance of high volatility stocks. Abstract Number of studies show that portfolio of low risk stocks outperforms portfolio of high risk stocks as well as the market portfolio over the full market cycle on risk adjusted basis and in some cases, absolute basis as well. Keywords: anomaly; baker; beta; finance; journal; market; portfolio; returns; risk; stocks; studies; volatility
• Co-Movement and Index Changes - Evidence from The Emerging Indian Stock Market by Parthasarathy, Srikanth (2011) - Introduction The empirical investigation of stock index changes around the world has focused on two aspects: Firstly, the price effect which was studied for over the past three decades had evidenced permanent increase in stock prices following addition to stock index. An interesting finding is that the stock pricing become less efficient when the non-Nifty stocks become Nifty index stocks based on the auto correlation results. Keywords: beta; change; increase; index; index stocks; market; movement; nifty; period; results; stocks; trading; volume
• Estimating the Equity Risk Premium for Economies in the Asian Region by Cohen, Michael Brian (2009) - If the economies were in some sense “closed” then local factors which affect the ERP are likely to be different in each economy, resulting in different ERP in each. There is no reason to suppose that the ERP will be the same or different between different economies; further more it is possible to test this hypothesis given the data that was used in constructing the ERP in this study. Keywords: asian; data; economies; economy; erp; market; period; risk
• Macroeconomic Approach of the Determinants of Stock Price Movements in Jordan by Ramadan, Imad Zeyad (2016) - These results are consistent with (Mukherjee and Naka, 1995, Zhao, 1999 & Udegbunam and Eriki, 2001, Al-Qenae, Li & Wearing, 2002, Dimitrios Tsoukalas, 2003 , Ibrahim 2003; Chaudhuri and Smiles, 2004) Keywords: Macroeconomic factors; Stock price movements; Jordan Asian Journal of Finance & Accounting ISSN 1946-052X 2016, Vol. 8, No. 2 ajfa.macrothink.org 61 1. Ibrahim and Aziz (2003), Booth and Booth (1997), Wongbangpo and Sharma (2002), Chen (2003), Chen et al. (2005), Maysami and Koh (2000), and Mukherjee and Naka (1995) have concluded that rates of inflation, prevailing interest rates, rates of growth of money supply, size of reserves, local currency exchange rates and productivity of the sector are all considered as statistically significant determinants of stock prices movements. Keywords: factors; market; movements; prices; rates; stock; stock prices; study
• Idiosyncratic Volatility and Cross-section of Stock Returns: Evidences from India by Sharma, Prashant; Kumar, Brajesh (2016) - In line with second branch of literature, the predictability of stock returns with different risk measures was tested by Goyal and Clara (2003) for period of July 1962 to December 1999 and showed that there is significant positive relationship between average stock variance (largely idiosyncratic risk ) and market returns. Data and Methodology for Estimation of Volatility The study employs monthly data on stocks returns, market returns, 91 dayst-bills rates, SMB and HML of BSE 500 companies (except banking and financial institutions) from 2001(FY) to 2012 (FY). Keywords: cross; market; relationship; returns; stock; volatility
• Modelling and Estimation of Volatility Using ARCH/GARCH Models in Jordan’s Stock Market by AL-Najjar, Dana Mohammad (2016) - Keywords:- Times Series, GARCH models, Modelling Volatility, leverage effect, Emerging Markets, Jordan. In the same vein, study by Bollerselev (1986) suggested one step forward to overcome the problem related to the ARCH model regarding the number of parameters, by applying Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) model; in this way Asian Journal of Finance & Accounting ISSN 1946-052X 2016, Vol. 8, No. 1 ajfa.macrothink.org 154 instead of having infinite parameters using ARCH models, we can reduce the number into only two parameters in GARCH model. Keywords: asymmetric; effect; finance; financial; garch; journal; market; models; return; stock; study; volatility
• Time Varying Correlations between Stock and Bond returns: Empirical evidence from Russia by Saleem, Kashif (2011) - Bond market returns are proxied by logarithmic returns on JP. Further, to analyze the dynamics of the time varying conditional correlations between the two assets we use the DCC-GARCH (1, 1) model proposed by Engle (2002). Keywords: bond; correlation; dcc; finance; garch; journal; market; model; returns; stock; time
• SEASONALITY AND MARKET CRASHES IN INDIAN STOCK MARKETS by Dash, Mihir; Dutta, Anirban; Sabharwal, Mohit (2011) - It was found that the combined month effects were not statistically significant in the presence of crash effects, while the combined crash effects were highly statistically significant in the presence of month effects. The objective of this study is to explore the interplay between the month-of-the-year effect and market crash effects on monthly returns in Indian stock markets. Keywords: crash; effect; january; journal; market; month; returns; stock

• The Impact of Second Generation National Health Insurance on Stock Prices- based upon Supplementary Premium Charges on Dividend Income by Lin, Ku-Jun; Chen, Hai-Ming; Chen, Hsiu-Mei; Lo, Wen-Chen (2016) - This new insurance system, charging NHI premiums according to the insureds’ real financial condition, is much more equitable. NHI supplementary premium charges based on income from part-time jobs, business income, dividend income, interest income and rental income have sprouted many fee-avoidance measures. Keywords: act; day; event; generation nhi; income; journal; nhi; nhi act; period; premium; return; second; stock; study; supplementary
• Relationship between Corporate Capital Structure and Stocks Liquidity: Empirical Evidence in Vietnam by Vu, Van Thi Thuy; Tran, Thoa Thi; Ngo, Xuan Thanh; Nguyen, Linh Nhat (2020) - Robert F. Stambaugh (2002) introduced the concept of stock liquidity as follows: Stock liquidity is a very broad and unclear concept, but generally, it reflects the ability to trade a large volume of stock quickly at a low cost with little price fluctuation. On the stock market, the risk of stock liquidity is increasing with more complex trends. Keywords: business; capital; finance; journal; liquidity; model; relationship; stock; stock liquidity; structure; value
• Volatility Estimation Using Symmetric and Asymmetric Models in Oil Exporting Emerging Markets by Sreeram, Latha (2019) - Abd El Aal (2011) examined Egyptian stock market return volatility and he found that EGARCH is the best fit model. The return series were used to compute News Impact Curves (NIC), which pointed out the inadequacy of using GARCH in the presence of asymmetric volatility effects, which treats all volatility equally. Keywords: countries; effects; finance; garch; journal; markets; model; news; return; series; stock; study; test; variance; volatility
• Empirical Evidence of the Causative Association between Spot, Futures and Options Market: An ARDL Model Approach by Jain, Vaishali; Dhaigude, Rahul; Divekar, Rajiv (2020) - A further analysis of the lead-lag relationship between the cash market and stock index futures market. This hypothesis assumes the importance of futures markets in absorbing and disseminating information to the cash market.” Keywords: finance; futures; futures markets; index; index futures; journal; markets; options; prices; relationship; spot; stock
• Prior Return Patterns in Sector Returns: Evidence for Emerging Markets by Sehgal, Sanjay; Jain, Sakshi (2012) - We observe that a large part of prior return patterns in stock returns are absorbed by similar patterns in sector returns. Since the end of nineties, a body of literature has emerged that concentrates on prior return patterns in sector returns and which advocates that these sector patterns tend to drive prior return patterns in stock returns. Keywords: finance; formation; growth; industry; journal; markets; momentum; months; months‐12‐12; patterns; portfolio; returns; sector; stock; strategies; term
• Stock Market Reaction to Good and Bad Political News by Suleman, Muhammad Tahir (2012) - 4.1 Impact of Good Political News First we test the impact of good political news on the stock returns, means how returns responds to the good news. However some sectors as oil and gas (0.037254), financial (0.061050) and auto and parts (- 0.059129) are not statistically significant with respect to good political news. Keywords: effect; good; impact; journal; news; results; returns; risk; sectors; stock; volatility
• IMPACT OF THE FINANCIAL CRISIS ON ACCOUNTING CONSERVATISM by El Houcine, RIM (2021) - Wargan e period 199 e pessimism Most invest ttempt to de ccurate info nager will ch same time, ting conserv d to detect co eturns as a nies, they fo . However nths after fi porary prof troduction o ng from the the followi le (1998) ha not affect th on of stock m Finance & Ac ISSN 19 2021, Vol. 1 ajfa.macro ontext, Basu st compare is (2005-20 pare their re ngs Per Sha r share on th Kothari (19 e residues i e period. Keywords: 052x; acc; asian; bad; basu; conserv; crisis; debt; finance; financial; issn; journal; news; period; returns; share; stock; think.org/; vatism; vol
• Determinants of dividend policy of South Korean listed firms by BANERJEE, ARINDAM (2021) - Dividends o of Finance Among D p. 97-113. Larger have bett Finance & Ac ISSN 19 2021, Vol. 1 ajfa.macro f dividends a minants of d s risk. Keywords: 052x; ajfa.macro; asian; debt; determ; dividend; equity; evidence; factors; finance; firm; https://d; issn; journal; payout; policy; positive; ratio; research; size; stock; studies; study; think.org/; vol
• Chinese and Indian Stock Market Linkages with Developed Stock Markets by Pritam Singh, Gurcharan Singh (2011) - The findings where stock market indices are co-integrated means that there is a linear combination between the indices that forces these indices to have a long-term equilibrium relationship even though the indices may wander away from each other in the short run. Table 6 below summarise the F-statistics, coefficient of the lagged value of error correction term (ECT) and the t-ratio between pairs of stock market indices of China and India with four major markets. Keywords: asian; causality; granger; india; indices; markets; nifty; run; sensex; stock; stock markets; test
• A Comparison of ITM and OTM Protective-Puts and Covered-Calls by Dash, Mihir; Goel, Ankush (2014) - mean stock returns 0.4428% 0.4181% 0.4325% 0.0278 0.4341 stdev stock returns 3.5953% 3.2550% 3.4530% 0.8960 0.1741 skewness stock returns 0.4658 0.2231 0.3643 0.5693 0.2269 kurtosis stock returns 3.3544 2.0320 2.8014 0.6516 0.2116 There were found to be significant differences in the mean stock returns and standard deviation of stock returns for different optimal strategies, but no significant difference in the skewness and kurtosis of stock returns for different optimal strategies. Discriminant analysis of buying ITM and OTM protective-puts on the characteristics of the distribution of underlying stocks Canonical Discriminant Function Standardized Coefficients Unstandardized Coefficients mean stock returns 1.2305 230.9568 stdev stock returns -2.0038 -153.6011 skewness stock returns 0.1405 0.1195 kurtosis stock returns 1.3061 0.2191 (Constant) 3.6477 Values at centroids buy OTM protective-puts 0.3540 buy ITM protective-puts -0.2950 The standard deviation of returns, the kurtosis of returns, and the mean returns of the underlying stock were found to have significant impact on the dominance relation between OTM protective-puts and ITM protective-puts, followed by the skewness of returns of the underlying stock. Keywords: buying; itm; otm; protective; returns; stock
• Cross-Sectional Variation in Stock Price Reaction to Bond Rating Changes: Evidence from India by Sehgal, Sanjay; Mathur, Shruti (2013) - 4.2.2 Firm characteristic based portfolios The results of relationship of post –event stock returns with pre – event stock returns, magnitude of rating change and business cycle in case of bond rating changes for firm characteristic based portfolios are shown in Table 4. This paper explores the relationship between bond rating change information and stock return behaviour in India. Keywords: bond; case; change; downgrades; effect; event; firms; high; journal; post; pre; rating; returns; stock; upgrades
• Can Corporate Governance Mitigate the Adverse Impact of Investor Sentiment on Corporate Investment Decisions? Evidence from Taiwan by Chen, Weiju (2013) - -139 368,091 CF (million) 1,730 9,041 -26,494 211 229,476 SIZE (million) 17,799 585,940 32 3,827 1,380,532 Q 0.73 0.74 -0.63 0.55 11.82 Panel B: Investor sentiment variables TURN (%) 211.44 194.17 0.07 154.57 1581.29 DACCR (million) -67.13 Unlike the other three indices which evaluate investment sentiment based on indirect data, CCI directly measures the degree to which investors are optimistic about the future. Keywords: board; decisions; finance; firm; governance; index; investment; investment decisions; investor; investor sentiment; journal; managers; sentiment; stock; value; variables
• Valuing the First Negotiated Repurchase of the TARP Warrants by Wilson, Linus Theodore (2014) - That legislation mandated the purchase of warrants in banks which sold assets to the U.S. Treasury. On October 13, 2009, U.S. Treasury Secretary Henry Paulson announced the Capital Purchase Program (CPP) to buy warrants and preferred stock in healthy banks. Keywords: dividend; price; stock; volatility; warrants; yield
• A Study on Options Pricing Using GARCH and Black-Scholes-Merton Model by Bi, Zohra; Yousuf, Abdullah; Dash, Mihir (2014) - The present study applies the GARCH (1, 1) model to estimate the volatility, and applies this estimated volatility to calculate option prices with the help of Black-Scholes-Merton model. Keywords: GARCH model, Black-Scholes-Merton model, Option prices, Volatility Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 1 www.macrothink.org/ajfa 425 1. Keywords: day; difference; garch; model; option; price; pricing; stock; volatility
• Preholiday returns and volatility in the Thai stock market by Tangjitprom, Nopphon (2011) - Therefore, the long holiday period will lead to higher abnormal preholiday returns that come with higher volatility. The lags of stock returns are included in the mean equation to account for possible autocorrelation. Keywords: equation; garch; holidays; model; preholiday; preholiday returns; returns; stock; volatility
• Prediction of the Moving Direction of Google Inc. Stock Price Using Support Vector Classification and Regression by Liu, Xuan; Pan, Liu (2014) - b 2.2 Kernel and optimization of kernel parameters Epsilon-SVR in LIBSVM package, which is developed by Chang et al (2011) and is currently one of the most widely used SVM, was employed for stock price prediction in this study. However, this does not mean that moving trends >15 trading days will always be good for stock price prediction, as we also found that the trends within 45 trading days had the similar prediction performance as that within 15 trading days. Keywords: analysis; classifier; moving; prediction; price; stock; svc; svr; trading

• Debt Capital and Financial Performance: A Comparative Analysis of South African and Sri Lankan Listed Companies by Yapa Abeywardhana, Dilriukshi; Magoro, Katlego (2017) - The relationship between debt capital and firm performance as well as the impact thereof was tested by the following regression models: , = + , + , + , + , + , , = + , + , + , + , + , Where: , = short term debt to total assets for firm i in year t; , = long term debt to total assets for firm i in year t; , Objective of this study is to examine whether debt capital affects the financial performance of the wholesale and retail sector companies in South Africa and Sri Lanka. Keywords: capital; companies; debt; debt capital; finance; firm; impact; journal; performance; results; structure; study; term debt
• The Impact of Capital Structure on the Financial Performance of the Jordanian Industrial Companies Listed on the Amman Stock Exchange for the Period 2012-2015 by AlAli, Shireen Mahmoud (2018) - the paper of (Goyal, 2013) seeks to study the impact of capital structure on profitability of public sector banks in India listed on national stock exchange during 2008 to 2012 methodology-Regression Analysis has been used for establishing relationship between Return on Equity, Return on Assets & EPS with capital structure Results. The following metrics for capital structure ratios will be used in this study: 1- Total Liability to Total Assets Ratio (LAR). Keywords: assets; capital structure; companies; equity; performance; ratio; return; study; total
• Corporate Governance and Firm Performance: The Role of the Board and Audit Committee by Saha, Netai Kumar; Moutushi, Rehnuma Hoque; Salauddin, Mohammad (2018) - The takeover market, corporate board composition, and ownership structure: The case of banking. Cornett et al., (2009) puts another counter-argument that indeed if the size of the boards is large those are positively associated with corporate performance. Keywords: audit; board; committee; directors; firm; governance; independence; journal; performance; size
• Capital Structure and Firm Performance in the Financial Sector: Evidence from Australia by Skopljak, Vedran; Luo, Robin (2012) - Therefore the expectation according to agency theory and past literature (Berger and Bonaccorsi di Patti 2006) is that ECAP will have negative relationship with profit efficiency; that is an increase in debt yields higher profit efficiency. It shows profit efficiency in Australian banks to be averaging 78.6%; that is, on average banks profit efficiency is 78.6% relative to the performance of the most profit efficient bank. Keywords: banks; capital; capital structure; debt; efficiency; finance; firm; journal; leverage; performance; profit; profit efficiency; structure
• Does Capital Structure Matter? The Influence of Capital Structure on Net Interest Margin: Evidence from Sri Lanka by Kengatharan, Lingesiya; Sivalingam, Logavathani (2018) - The Influence of Capital Structure on Net Interest Margin: Evidence from Sri Lanka Lingesiya Kengatharan Department of Financial Management, University of Jaffna, Sri Lanka Logavathani Sivalingam Faculty of Management Studies & Commerce, University of Jaffna, Sri Lanka E-mail: lingesiya@univ.jfn.ac.lk Received: May 14, 2018 Accepted: June 30, 2018 Published: December 1, 2018 doi:10.5296/ajfa.v10i2.13286 URL: https://doi.org/10.5296/ajfa.v10i2.13286 Abstract Objectives of this study were to examine the capital structure pattern of Sri Lankan commercial banks and to investigate the influence of capital structure on net interest margin of commercial banks in Sri Lanka. Therefore, Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 2 ajfa.macrothink.org 2 Hausman Specification test was performed to find out whether fixed or random effect model is suitable to examine the relationship between capital structure and NIM. Keywords: banks; capital; capital structure; debt; effect; performance; structure; study; term
• Corporate Social Responsibility and Firm Performance of Licensed Commercial Banks in Sri Lanka by Balagobei, Saseela; Anandasayanan, S. (2018) - Keywords: Corporate social responsibility, Firm performance, Firm size Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 2 ajfa.macrothink.org 193 1. Therefore this research was based on the evaluation of the impact of corporate social responsibility on firm performance of banks in Sri Lanka. Keywords: banks; csr; firm; performance; relationship; responsibility; study
• Operational Risks and Equity Returns: Dynamic and Static Panel Data Analyses by Aguguom, Theophilus Anaekenwa (2020) - Firstly, considering that the credit risk in OCBC Bank remained high, there is a need to monitor risk management, especially, in areas of the variables that had a significant impact on bank credit risk. 2.5 Empirical Review Mostafa, Mahmoud, Jalal and Elahe (2016) conducted a study to determine the relationship between financial risk and profitability of the banks listed in the Tehran Stock Exchange. Keywords: banks; credit; effect; equity; journal; model; performance; returns; risk; significant; study; value; variable
• Outside Directors, Corporate Governance and Firm Performance: Empirical Evidence from India by Kumar, Naveen; Singh, J. P. (2012) - While several authors find that independent outside directors, protect shareholders in specific instances in which there is an agency problem (Weishbach 1988; Byrd and Hickman, 1992; Xie et al., 2003; McCabe and Nowark, 2008). Many researchers (Baysinger and Butler, 1985; Dalton et al., 1998; Dalton and Daily, 1999; Fernandes, 2005) do not find any relationship between board composition with representation of outside independent directors and firm performance. Keywords: board; companies; directors; effect; finance; firm; governance; independent; journal; ownership; performance; shareholders; value
• CEO Succession: Choosing Between Family Member or Outsider? by Amran, Noor Afza (2012) - Noor Afza Amran, PhD School of Accountancy Universiti Utara Malaysia 06010 Sintok Kedah Malaysia E-mail: afza@uum.edu.my Received: Sep. 9, 2012 Accepted: October 22, 2012 Published: December 1, 2012 doi:10.5296/ajfa.v4i2.2355 URL: http://dx.doi.org/10.5296/ajfa.v4i2.2355 Abstract Studies discussing on having a family chief executive officer (CEO) or outsider to manage family companies are widely discussed in overseas but little research that actually taking place in Malaysia. More importantly, family companies prefer to have family CEO to manage the company because of strong family cultures, high sense of family unity and belongings within the companies. Keywords: business; ceo; companies; company; family; family companies; firm; journal; performance; study; succession; value
• Global Financial Crisis and Role of Ownership Structure on Cost of Capital by Afkhami Rad, Salman; Locke, Stuart; Reddy, Krishna (2013) - Therefore, it is appropriate to consider these two different countries and how company ownership structure influences the cost of capital during a financial crisis. Abstract This paper explores the relationship between ownership structure and cost of capital. Keywords: block; capital; cost; financial; insider; journal; new; ownership; ownership structure; performance; relationship; structure
• Impact of Intellectual Capital on the Organizational Performance of Islamic Banking Sector in Malaysia by Khalique, Muhammad; Shaari, Jamal Abdul Nassir bin; Isa, Abu Hassan bin Md; Samad, Noridah Binti (2013) - To overcome the scattered opinion about the concept and applications of intellectual capital (Khalique, Shaari, & Isa, 2011b) proposed integrated intellectual capital model (IICM). In a contemporary business environment, intellectual capital is considered as the most critical strategic asset for the success of the organization. Keywords: banking; capital; islamic; journal; malaysia; performance; sector
• Ownership Volatility and Firm Performance: Evidence from the Korean Firms by Kim, Haksoon (2014) - Using the five year ownership volatility variables from 2005 till 2009, the paper shows a positive relationship between foreign ownership volatility and the firm performance of sample firms in Korea. Consistent with our hypothesis, we find a positive relationship between foreign ownership volatility and firm performance. Keywords: finance; firm; journal; ownership; performance; relationship; volatility
• The Role of Corporate Governance in the Link between Management Accounting System and Firm Performance by Wang, David Han-Min; Huynh, Quang Linh (2014) - Abstract This research attempts to explore the causal relationships among corporate governance structure, the adoption of management accounting systems and firm performance by applying the directed acyclic graph model. Especially, it discusses and uses Sobel’s procedure and the interaction factor to investigate the mediating and moderating roles of corporate governance structure in the association between the adoption of management accounting systems and firm performance, which have been missed in prior studies. Keywords: accounting issn; accounting systems; adoption; business; firm; governance; governance structure; journal; level; management accounting; model; performance; research; structure; variable
• The Impact of Information Asymmetry and Client Credit on Lending Performance - Taiwan’s Evidence by Huang, Cheng-Li; KUO, BIH-YUN (2014) - Compared to the construction and real estate industry, it seems that firms within the electronic and the non-electronic manufacturing industries and wholesale industries (the coefficients are 0.11, 0.06 and 0.24, respectively) prefer to build relationships with high credit risk bank. Compared to privately-held companies, it seems that publicly-held companies (the coefficient is 0.28, and the odds ratio is 1.32) prefer to build relationships with high credit risk banks. Keywords: banks; borrowers; credit; credit risk; finance; hccl; information; lending; lending performance; mlbs; msbs; performance; relationships; wobd
• The Effects of the Financial Crisis on the Financial Performance of Malaysian Companies by Yap, Ben Chin Fook; Mohamed, Zulkifflee; Chong, K-Rine (2014) - Finally, a comparison is made to see whether there is a direct link between company financial performance and the financial crisis that started in 2007/2008. A comparison is made to see whether there is a direct link between company financial performance and the financial crisis. Keywords: analysis; cluster; companies; finance; journal; performance; ratios; study; total; variables
• Efficiency of Foreign Banks Operating in India: DEA Analysis by Rajput, Namita; Chopra, Kamna; Oberoi, Shelly (2014) - Trends of Efficiency Scores of PSBs, Private Sector Banks and Foreign banks Hypothesis 2: Efficiency measures have resulted in higher efficiency level of each individual banking unit of foreign sector banks. Hypothesis 2: Efficiency measures have resulted in higher efficiency level of each individual banking unit of foreign sector banks. Keywords: banking; banks; dea; efficiency; fbs; financial; india; journal; performance; sector
• Mutual Fund Size and Investible Decisions of Variable Life Insurance by Wang, Nan-Yu; Chen, Sen-Sung; Huang, Chih-Jen; Yen, Cheng-Hsin (2014) - This indicates that fund investors tended to redeem funds with strong performance vigorously. Chen, Hung, and Lee (2001) found a negative correlation between fund scale and performance. Keywords: fund; group; inflows; investors; performance; relationship; scale; small
• Does Shariah Compliant Stocks Perform Better than the Conventional Stocks? A Comparative Study Stocks Listed on the Australian Stock Exchange by KR, Krishna Reddy; Fu, Mingli (2014) - Published: December 1, 2014 doi:10.5296/ajfa.v6i2.6072 URL: http://dx.doi.org/10.5296/ajfa.v6i2.6072 Abstract A rapid growth of Islamic finance in the past decades has motivated many investors to focus on Islamic stocks rather than conventional stocks. Since its establishment, investment in Islamic stocks has experienced remarkable growth. Keywords: conventional; finance; financial; islamic; journal; performance; portfolio; ratio; results; returns; risk; shariah; stocks
• Corporate Governance and Financial Performance of Bank in Asian Regions and Recommendations by Lai, Ping-fu; CHOI, On-na (2014) - It also gives suggestions about how to improve bank financial performance. The management should have good expertise and experience to receive timely information; they have duty to monitor bank performance. Keywords: asset; bank; board; capital; car; governance; hypothesis; journal; level; npl; performance; ptc; relationship; roaa; significance; size; value
• Corporate Governance and Profitability of Nigerian Banks by Akinyomi, Oladele John; Adedayo, OLUTOYE Ebenezer (2015) - Corporate governance represent methods through which organizations are being administered, a structure through which the welfare of different parties with vested interests are harmonized, showing group of interaction between a company’s administration, its board, its shareholders and other interested parties (Cheema & Din, 2013). Therefore, this review is eclectic in that it considers the investigation of corporate governance and corporate performance from several countries: Denmark, China, Bangladeshi, Pakistan, Sri Lanka and of course, the United States. Keywords: association; banks; board; directors; governance; journal; performance; profitability; size; study
• Can the Chinese Two-Tier-Board system Control the Board Chair Pay? by Ding, Shujun; Wu, Zhenyu; Li, Yuanshun; Jia, Chunxin (2009) - Using data in 2005 and 2006 from the two stock markets in China, we examine the research questions using the meeting frequency and size of a supervisory board as proxies for its activities and characteristics, and show that supervisory boards influence board chair pay significantly. This article investigates if corporate governance mechanism indeed benefits in these two ways from major Asian Journal of Finance & Accounting ISSN 1946-052X 2009, Vol. 1, No. 1: E1 www.macrothink.org/ajfa 2 characteristics of supervisory boards, one of the two monitoring organs in Chinese publicly listed companies. Keywords: board; board chair; china; chinese; compensation; effects; finance; firm; governance; journal; monitoring; pay; performance; supervisory
• Entry Mode Strategies and Performance of Japanese MNCs in Australia and New Zealand: the Role of Japanese Employees by Kumarasinghe, Sriyalatha; Hoshino, Yasuo (2009) - This study extends our understanding of the influence of ownership and staffing policies on Japanese subsidiary performance in Australia and New Zealand. hoshino@aichi-u.ac.jp Abstract This study investigates different entry modes and staffing practices, and their influence on performance in Japanese subsidiaries in Australia and New Zealand. Keywords: age; australia; entry; industry; japanese; journal; model; new; ownership; performance; subsidiaries; zealand

• The Determinants of Foreign Exchange Exposure of EGX30 Companies "An Empirical Study" by Nada, M. S.; Mohammed, Rehab Emad El-Din (2017) - Therefore, the study divides the companies into two categories with respect to their exposure to FX risk; positive exposure companies and negative exposure companies. Table (I), in the Appendix, Panel Apresents the mean and standard deviation of the FXE for EGX30companies, Panel Bis for positive exposure companies and Panel Cis fornegative exposure companies. Keywords: asset; companies; exchange; exposure; firm; fxe; panel; rate; ratio; study
• Extent of Implementing Target Costing and Value Engineering Approach to Reducing Costs: A Survey in Jordanian Shareholding Companies for Food Industries by El-Dalahmeh, Suleiman (2018) - The results of the survey revealed that availability of the components of application of target cost, as well as companies have awareness, concepts, principles and the importance of applying target costs to managing costs so as to improve profitability, and the companies are using value engineering to achieve a cost to reach the target costs. Keywords: Target costs, value engineering, management accounting, the Jordanian shareholding companies for food industries. Keywords: companies; costs; food; food industries; shareholding companies; study; target cost; value; value engineering
• Factors Influencing the Dividend Policy of Vietnamese Enterprises by Dang, Hung Ngoc; Ha, Nguyen Viet; Binh, Dang Thai (2018) - Keywords: Dividend policy, GLS model, dividend payout ratio; dividend per share ratio Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 2 ajfa.macrothink.org 17 1. Introduction The aim of dividend policy is to allocate retained earnings for reinvestment and dividends for shareholders. Keywords: companies; company; dividend; dividend policy; journal; payout; policy; ratio; results; size
• Financial Mismatch, Assets Specificity and Capital Structure by Li, Yanwu (2019) - Through the analysis of the existing research results, we found that the current research on financial resource mismatch still has the following problems, 1. The mechanism of interaction between financial resource mismatch and economic growth still needs to be carefully scrutinized. Keywords: asset; asset specificity; capital; capital structure; china; companies; debt; enterprises; finance; journal; mismatch; research; resources; specificity; state; structure
• Analysis of Financial Stability of Indian Non Life Insurance Companies by Joo, Bashir Ahmad (2013) - The analysis of ISI standard benchmark analysis ratio for private sector insurance companies is presented in table 2. However, available literature on insurance sector has neither stated that whether the Indian industry stand in compliance with solvency norms applicable at international levels nor the significant factors have been highlighted which affect financial stability of insurance business and subsequently to solvency position of insurers. Keywords: analysis; companies; industry; insurance; insurers; isi; journal; life; ratio; sector; solvency; standard
• The Impact of Credit Rating, Ownership and Relationships on Loan Spreads-Taiwan’s Evidence by Huang, Cheng-Li; Kuo, Bih-Yun (2014) - Due to bank credit officers requiring the borrower to provide financial statements for the past three years as an important basis for credit ratings, therefore the corresponding empirical periods are 2003-2008 for borrowers. 17.Coleman et al. (2002) used the capital adequacy ratio, the ratio of cash to total assets, and the loans to deposits ratio as a proxy for bank risk. Keywords: banking; banks; borrowers; borrowing; companies; credit; credit risk; creditor banks; finance; foreign; hccl; holding; journal; lending; loan spreads; ratio; relationships; state; table; wobd
• Relationship between Firm Age and Financial Leverage with Dividend Policy by Takhtaei, Nasrollah (2014) - To investigate the linear or non-linear relationship between company age and dividends, the square and the cube of the company age in empirical model of the research have been used. Considering what has been mentioned, the hypotheses in this study have been designed as follows and will be tested: H1: there is a significant relationship between dividend policy and company age. Keywords: age; companies; company; company age; dividend; leverage; relationship; study
• The Relationship between Audit Committee Characteristics, Audit Firm Quality and Companies’ Profitability by Aryan, Laith A (2015) - Asian Journal of Finance & Accounting ISSN 1946-052X 2015, Vol. 7, No. 2 ajfa.macrothink.org 225 Rainsbury, E. A., Bradbury, M., & Cahan, S. F. (2009).The impact of audit committee quality on financial reporting quality and audit fees. This study aimed to highlight the role of audit committee and external audit in enhancing companies’ profitability. Keywords: audit; audit committee; committee; companies; governance; journal; management; profitability; quality; relationship

• A Logical Process about the Chaos in FOREX Financial Market by Mele, Marco (2017) - Non-linear systems exhibit complex effects that are not deductible with linear methods, especially characteristic of dynamic systems. In the literature, four basic reasons have been advanced concerning the non-linear models, and because not provide more accurate forecasts than simple linear models even when the assumption of linearity is significantly rejected for the estimation period (Diebold e Nason, 1990): (i) non-linearity affecting moments higher than the average and, therefore, does not prove useful to improve the point forecasts; (ii) non-linearity present during the estimation period are due to structural changes or outliers that cannot be exploited to improve the out-of-sample forecasts; (iii) non-linearities in average even though they are a feature of the data generating process are not relevant enough to offer most of the gains in terms of forecast accuracy; (iv) non-linearity present are described by the wrong type of non-linear model. Keywords: exchange; linear; non; system; truth; value
• SME Growth: The Role of Government Grant by Quintiliani, Andrea (2017) - The empirical evidence from January 2003 to December 2014 indicates a strong relationship between Government grant, strategy diversification and growth of enterprise value. Even if this formula regards the stock market, it can also be used to calculate enterprise value of unlisted companies by making some adjustments. Keywords: capital; diversification; enterprise; eva; journal; period; return; value
• Impact of Customer Relationship Management of Hotel (A Case study Umaid Bhwan) by Ahmad, Tauseef; Jawabreh, Omar Abdalla; Afeef, Mahmoud (abdel muhsen)Irsheid Al; Almomani, Alaa (2012) - 3. Research Objectives The research aims to investigate the impact of customer relationship management on customer’s satisfaction, trust, retention in UMAID BHWAN in India, in addition to the following:- 1. To find the impact of implementing customer relationships management to increase the customers trust to Umaid Bahwan. 2. Keywords: bhwan; customer; degree; hotel; management; relationship; umaid; value
• Effect of Macroeconomic Variables on Financial Performance of Healthcare Manufacturing Firms in Nigeria by Ifeyinwa Elizabeth Nnajieze; Anthony Okorie, Nwabuisi; Alex Onyeji , Igwe (2021) - lows the wo CLRM), and st squares t he best unbia the assump (or Respon ariances and fied thus: 2X2ij + 𝛽3X n on Assets variables un Ht + 𝛽2INT on Assets at ge rate at tim erest rate at ation rate a ernal Debt a Openness at nt 65 the pattern start of the f of the impa dy was con entral Bank tements of ournal artic ork of Oko d particular technique i ased linear ption that: 𝑌 nse) variabl d covariance X3ij + 𝛽4X4ij while X1, nder invest TRt + 𝛽3INF t time t, (De ime t, (Indep t time t, (Ind at time t, (In at time t, (In time t, (Ind Asian n and direct fourth repub act of the nducted afte of Nigeria the selected cles, newsp oye and Cle ly, the ordi is to minim estimator. In prices meas political ins adies all con nes debt as wed to for cial instituti ), external d r (the credit n favorable ming well, m n increase in perational d gularly influ l factors im lity to increa e rate, GDP o on. Keywords: 052x; ajfa.macro; asian; assets; bank; bility; conomic; country; data; debt; econom; effect; exchange; external; finance; financial; findings; firm; foreign; gdp; impact; inflation; ing; interest; issn; journal; mance; manufa; money; negative; nigeria; perform; profitab; rate; result; return; roa; roe; sector; study; test; think.org/; time; trade; value; variable; vol
• The Effect of Firm Specific Factors on Lessor Financial Performance in Egypt (panel analysis) by Elewa, May; Abdel Aal , Yasmin (2022) - Fix alue Coef 3634 9.5 3896 0.0 2204 0.0 0105 -2.7 9228 0.0 1150 9090 F-test ng two tests el and fixe ndicating th dom effects 6123, p > 0 epresent the o, the whole he P-value 4 (0.3294) in s, the appro Asian 474257) p > correspondin are x1 (0.81 opriate mode 0.898846, p xed effects m fficient P- 507359 0 001121 0 000774 0 712163 0 000305 0 22 0.0 0.991987 P-value 0 χ2 4.7 s: ed effects m at fixed effe s model and 0.05), indica e outcomes e model is of F test of ndividually. From e value of f ccounting 946-052X 14, No. 2 think.org/ n y nd ) y nd ) y and y y ), y ) ors have both the Act (Law impacts pacts (y1 impacts debt/total mber and une 2021 pectively he value 19180.3 portation April to financial leasing the tota about 7 From A pounds transpor of the to about 7 April to pounds The tot million are in fi 17.33% 2,936.8 Financi Financi first six Corples the peri third pla Accord Financi percent of June while it with a Compan There w represen Egyptia The tot 2021. Keywords: act; ajfa.macro; asian; assets; debt; effect; egyptian; finance; financial; firm; ifrs; issn; journal; lease; leasing; model; results; study; table; test; think.org/; total; value; vol
• The Variables That Influence Value: An Analysis of European Listed Companies by Anna Paola Micheli; Anna Maria Calce; Elisa Cafolla (2022) - In t n firm profi s and mana ates for the liates is po ccounting 946-052X 14, No. 2 think.org/ hip with ring and 93-2001 facturing her hand, mpact of -specific w that the ment, and rtuguese ger ones, of Greek to firm ng to 15 The two ariables, exports, how that ely and n cement d on the ow that fit ratio, e period is noted cteristics lags and he third itability. The and GDP, everage, inflation mance of e period ers have ROA are gnificant ity from s appear debt has evaluate tion for ependent gy sector, ar 2020. Keywords: data; finance; firm; issn; journal; ratio; research; roe; size; value; variable; vol
• Triple Bottom Line Reporting: An Assessment of Sustainability in Banking Industry in Nigeria by Luke, Oluwagbuyi Olusola; Adaramola, Anthony Olugbenga (2013) - Triple bottom line reporting is hinged on improved relationship among stakeholders; especially employees, customers and investors. It is believed that the adoption of triple bottom line reporting in banking firms in Nigeria will lead to the enhancement of their reputations and brands. Keywords: banking; banking industry; industry; line; nigeria; reporting; sustainability; triple; value
• The Effect of SFAS No. 131 on the Diversification Discount by Ahn, Seoungpil (2015) - Thus, (MV/S)ssj is the median market-to-sales ratio of single segment firms in the same industry of j segment. I match each segment of a diversified firm with the industry median value of single segment firms. Keywords: discount; diversification; firms; segment; sfas; value

• The Global Financial Crisis Impact on Ethnic Diversity of Sri Lanka Boards by Hewa Wellalage, Nirosha; Locke, Stuart; Scrimgeour, Frank (2012) - In the first step, board ethnic minority is determined by using OLS regression techniques and in the second step, values determined for ethnic minority are used to determine agency costs. Though there have been studies of ethnic diversity on top management (Marimuthu, 2008; Roberson & Park, 2007) and its effect on firm financial performance, this is the first study to especially concern itself with board ethnic diversity during a global financial crisis period. Keywords: agency; asian; board; costs; crisis; directors; diversity; finance; firm; journal; lankan; minority; sri; study
• Director’s Age Diversity and Firm Performance: A New Perspective by Malek, Mazrah (2021) - In addition r's’ age dive dullah & Ku structure tha es, it is hop tion, cross h of Malaysia athan, 1999 it to the c ious literatu Lipton and executive d mple Baysin 09; Bernad n (see for e l evidence i ng, controll are said to 993; and Lip c rather than , bigger boa d help comp strong evide and Kacem, to produc Lipton and hallenges of ccounting 946-052X 13, No. 2 think.org/ ernance, ves both only be tiveness; e boards elevates diversity ed from e age of n to this, ersity on u Ismail at exists ped that holdings an firms ). e boards 27-40. Keywords: 052x; age; ajfa.macro; asian; ave; board; com; comp; corporate; director; diversity; doi.org/10.1; ectors; effect; finance; firm; gen; generation; https://d; issn; journal; malaysia; mance; ment; new; non; ons; perform; studies; study; theory; think.org/; tion; vol
• Accountability Studies in Religious Non-Profit Organizations: Possible Contextual and Application Gaps by Ali, Zubaidah Mohd ; Mahadi, Rozaidy (2021) - H e on the emb n, size, cultu et al., 2010 studies in t ui et al., 201 d the adva measuring ems in the o nd Lyon, 20 main religi , 2013; Lig in this cont tifying Fina searchers ha erous report lity practice nce models arting to que nd Carvalho tegory also res in entici d Study in Phipps et a dies on lead tivations and anisational ., 2016; Ars 27 ry, such as et al, 2013 having effe performance ns (Gresako ever, studies as Islam, B 000; Elson ruddin and R orting Disclo d into this c ent cases inv ffective fina shed the RN RNPOs’ abil oslan et al., the advant nancial supp mli et al., 20 at RNPOs ar unfavourab are less pr ad et al., 2 preparing fin 17). Keywords: 052x; accoun; ajfa.macro; asian; doi.org/10.1; et al; finance; financial; ganizations; https://d; internal; issn; journal; non; ntability; org; organiz; practices; profit; rnpos; studies; study; think.org/; vol
• The outbreak of corona virus has Coronavirus (Covid-19) Impact on Working Capital of Small and Medium-scale Enterprises (SMEs) in Nigeria by JOSIAH, MARY; Bosun - Fakunle , Yemisi; EKUNDAYO, GBENGA; Bosun - Fakunle , Yemisi (2022) - so eir me 200 (54.1%) us eir the 201 (54.3%) our use e 203 (54.9%) to the the 201 (54.3% st of the resp to give us m ectively, wh and disagre 50) strongl we can pay t nd 2.5% (9) ongly agree money to be ngly agree a cause cash onated stro uce staff du 12 ctively whil statement “ ificant effe A (2) 149 (40.3%) 150 (40.5%) 149 (40.3%) 151 (40.8%) 149 40.3%) pondents sh materials” 5 hile a minut eed respect ly agreed a then their m ) firmly dis e and agree e paid as and and agree to is not read ongly agree e to the adv Asian le 54.3% (20 “During the ect on paya N (3) D (4) 11 (3.0%) 3 (0.8 11 (3.0%) 5 (1.4 11 (3.0%) 4 (1.1 10 (2.7%) 2 (0.5 12 (3.2%) 3 (0.8 how a level 54.3% (201 te segment tively, and and agreed money within sagreed resp to the third d when due o the fourth dily availab e and agree verse conseq n Journal of F 01) and 42.2 e pandemic ables of SM SD (5) %) 6 (1.6%) %) 4 (1.1%) %) 5 (1.4%) %) 4 1.1%) %) 5 (1.4%) of agreeme ) and 40.3 opted for 3. 1.6 %( 6) to the seco n stipulated pectively . Also, .4%) were m that 19(5.1% nting 122(3 Sc./ HND w cations that ve Statistics able f years in b w 5years 0years ars and abo l der: e ale l ital Status: le ried rced l cational Qu CE D/ NCE /HND . Keywords: ajfa.macro; asian; capital; cash; covid; effect; ent; finance; issn; journal; medium; ment; nigeria; scale; small; smes; south; study; table; think.org/; vol; west; working; zone
• Determinants of Audit Quality by Al Shanti, Nidhal (2022) - Giv mpany Acc the auditor gy into th ver, is not du d audit pro g five (now h they perf allocation s that audit ectives can he study foc managemen ctives. Furtherm and 66% audit experi most respond s of audit ex h auditors interpretati es for deter or greater t , and less strongly an milarly, aud 0.01), where 30 ects of trea method f zes are equa ed manner ( gs based on descriptive cate that a by auditor e n the UAE more, over 6 agree that ience and p dents held xperience ( who lacke ion varies s rmining the than 0.65 is than that i nd positivel ditor educat eas client in Asian atments an for overco al; and faci (Creswell, 2 F n descriptiv e data and audit experi education ( E is not ve 68% of resp t their au preference f a professio Table 1), im d audit ex significantly ir strength s considered s considere ly correlated tion is stron nternal cont n Journal of F Keywords: acc; ajfa.macro; asian; audit; auditing; auditor; client; con; data; doi.org/10.1; ducation; exp; finance; financial; findings; firm; fraud; https://d; internal; issn; journal; perform; quality; research; review; steward; study; table; theory; think.org/; tion; uae; vol; years
• The Impact of Capital on Bank Liquidity: Case of Tunisia by Ben Moussa Mohamed Aymen (2022) - A Winton (20 e impact on bank liquid erating costs d bank liqui nancial expe hip between y 0.025%). bank ca Capital turn into losses a cover an The obj method sectionw 2. Keywords: ajfa.macr; ala; asian; bank; capital; finance; issn; journal; liquidity; mean; model; rothink.org/; size; total; vol
• Financial Inclusion is Rapidly Growing but the Access to Financial Services Remains Modest by Zucchelli, Davidia (2023) - CO ECID MD PE 60% ount (%) n Journal of F red through machines (A eless, while Ms and com eographical cations for e usefulness falling in d he adoption gy. % and USD) al inclusion , if we cons in the ellips P per head. Keywords: 052x; account; adults; age; ajfa.macro; asian; bank; banking; cesee; countries; credit; data; databa; finance; financial; findex; gap; gdp; global; high; inclusion; income; inst; issn; journal; low; mobile; money; ndex; note; open; people; source; ssa; think.org/; use; vol; women; world
• Measuring Qualitative Characteristics of Internet Financial Reporting: Evidence from Malaysia by Lajuni, Nelson; Mathew Kevin Bosi; Mohd Noor Azli bin Ali Khan; Melissa Della Joy (2024) - T munication areholders, ller et al., 2 nting standa Q), preventi conomic de rature point ti et al. (201 broad discre while omittin egulated po entities prov andards for 018). Howe ards govern ing investo ecision (Bot ts to certain 14) and Ke etion to ma ng negative olicy that ex vide differen r corporate has made it omparisons b that some r n on their w study cond es sluggishly by virtue of used for ec urement dev to the qu w that inde mechanisms atements, e e measured f specific d sefulness, w on & Yang Hanafi et al rnational F mphasise a monstrates th ring the v y of corpor the need to ccounting 946-052X 16, No. 1 think.org/ y due to hnology, ence and Internet with the ever, the ning the ors from tti et al., n factors liwon et anipulate e reports xplicitly nt levels Internet difficult between eporting websites ducted in y update f the fact conomic vice that ualitative ex-based include earnings directly etails or which is g, 2008; Keywords: ajfa.macro; asian; assess; ation; com; data; doi.org/10.1; et al; finance; financial; https://d; ifr; ifrq; index; informa; internet; issn; journal; masb; ment; non; quality; reporting; reports; study; think.org/; van; vol; websites
• Insights into University Composite Rankings from Explainable AI Counterfactuals by Rodriguez, Armando; Heudorfer, George; Kench, Brian (2024) - e validity o the rank ac trategists at learning ( I 4) (Rybinsk duced to ass Among the e different ge is a diffi olleges in e most imp It is difficu human cap e attending, d earnings ch of a per nevale, Che l asymmetr arkets can c he higher e y, and may ses (Li, Hor f unchecked tors such as ms. Univers versity servi tomers. Keywords: ajfa.macro; asian; college; data; doi; finance; issn; journal; local; rankings; think.org/; univers; university; vol
• An Investigation of Auditors’ Responsibility for Fraud Detection in Taiwan by Hsu, Chih-Shun; Kung, Fan-Hua; James, Kieran (2013) - They co rom fraud d h century, is tancy profe respondents nent to note general ex ed ignorance ch Method er the accou investigatin ations gap w o examine th e auditor s y audit exam e auditor sh xamination e auditor sh among empl e auditor sh at the manag e auditor sh the irregular e auditor sh e and fair vie e auditor s ated and co n affiliated e auditor sh s embezzlem e auditor sh as petty cash employees b e auditor ations and ing of emp onfirm the detection as s not a view ession and a s who want e also that s xhortations e gap. The W of the two cant differen med that the and Castell e purpose o consisting 0 public co al analysts ers of financ of 964 ques spondents w ation, 340 o group, and rs surveyed y satisfactor gation Resu respondent ional invest espect to ac ed opinions nce of opin vey results a ent response which exa dent groups . knowledged ding the inve ternative res e level of a not have bac n’t know (c ore, the fiv ulated by us eft hand sid made of Whitney tes apparent dif Wilcoxon-Ma population nces were fo e auditors a lan, 1989) Keywords: 052x; asian; ation; audit; auditing; auditors; detect; finance; financial; fraud; gap; group; ink.org/ajfa; issn; journal; material; ment; onsibility; public; respons; responsib; stateme; study; taiwan; vol
• An Evaluation of Intra-Trade Potential in Economic Community of West African States (ECOWAS) by Adam, Anokye Mohammed (2012) - Asian ortant part o r of regiona n Union (M sub-Saharan 10; Haggbl The empiric eral conclus gration in al trade in p ffered from ook at intra yses of all as been der e of attract ance betwee ational trade omic forces ows betwee s. Thus the e as their el can be exp jM nation coun countries t ade flows b ges in transa ding country efore, larger n Journal of F of the acade al blocs trad Martínez-G n Africa ( lade, Jayn al evaluatio sion seems Africa has particular an aggregate b a-country le empirical li rived from N ion betwee en the two e flows to s of the orig en the two s e model pre economic pressed as f ntry j ; usu hat have a between the action costs y usually de r countries Finance & Ac ISSN 19 2012, Vol. www.macrothi emic for nu de potential Galán,Fontou (Keane, Ca ne, Tschirle on of intra-r to be simila s been a fa nd fostering biases as th evel trade p literature ha Newton’s Keywords: 052x; africa; asian; ation; countries; country; data; econom; ecowa; export; finance; gravity; ink.org/ajfa; intra; issn; journal; model; panel; potential; study; test; trade; vol; west; www.macrothi
• Determinants of Commercial Bank Profitability: South Asian Evidence by Perera, Shrimal; Skully, Michael; Chaudhry, Zahida (2013) - Thus, we expect South Asian banks will show a negative relationship between credit risk and bank profitability and a positive relationship between liquidity risk and bank profitability. As anticipated, increasing competition among South Asian banks (captured by higher values for the H statistic, in Model 1) exerts negative pressure on bank profitability (Table 5, Panel A). Keywords: asian; bank; banking; competition; data; efficiency; journal; profitability; profits; risk; sample; south
• Project Financial Management and Modern Financial Slavery: The Case of a KSA Metro Project Start-up by James, Paul (2014) - Little has been reported in the literature surrounding project management of financial issues affecting engineers working on construction projects. In order to assess the ability of project management to manage design-engineering staff effectively on large construction projects, it would seem pertinent to establish some of the possible raised issues. Keywords: 052x; asian; company; construction; cost; design; engineering; finance; issn; issues; job; journal; management; project; project management; research; respondent; staff; sub; theme; vol

• The Impact of the Financial Sector on Asset Pricing Tests: Evidence from the Colombo Stock Exchange by Abeysekera, Amal Peter; Pulukkuttige Don, Nimal (2016) - The study finds that the four-factor model; incorporating the market premium, size premium, value premium and momentum premium provides a satisfactory explanation of the variation in the cross-section of average stock returns in the CSE, even when the financial sector is included. The spread in momentum average returns is highest for the small-cap stocks when financial firms are excluded and it is highest for the big-cap stocks when all companies are considered. Keywords: average; factor; financial; model; portfolios; returns; size
• Predicting the Profit per Share Using Financial Ratios by Al-Qaisi, Khaldoun Maddallh (2011) - Linear regression was used to test the effect of financial profit ratio on the accomplished profit per share. Table 2 shows positive effect of financial profit ratio on predicting the profit per share accomplished. Keywords: effect; model; profit; ratio; regression; share; square
• Capital Adequacy and Systemic Risk of Banks in India by Dash, Mihir (2020) - van Oordt and Zhou (2015) analysed bank systemic risk into two dimensions, the level of bank tail risk and the linkage between the level of bank tail risk and severe financial shocks to the system. The first step was to consider Capital Adequacy Ratio on its own as the independent variable in a simple linear regression model (model Ia) and a panel regression model with bank and year fixed effects (model Ic). Keywords: adequacy ratio; advances; assets; assets ratio; banks; capital adequacy; effects; minimum; model; net; results; risk; sector banks; size
• Comparing Logit, Probit and Multiple Discriminant Analysis Models in Predicting Bankruptcy of Companies by Khalili Araghi, Maryam; Makvandi, Sara (2013) - P ounting and s and also th uld be abl tion of ban stitutions (A informed t t bankruptc nkruptcy pro ruptcy(Arab ls to predict ompositions assified in th models th iate statist bability, log orithms, rec fuzzy logi ding criterio ash manage earch titled tcy of comp with explana profit to cu kruptcy in s and multip is model th hlson model While the 74and 76% discriminant 12 show le-discrimin ion is not h le-discrimin usion study we c s models to was %81, fo model, Could from 55 ba ive high pow sults of Pro ate bankrup nies is %9 nkrupt com pt companie d that Probit 7 0.0010.015X urately estim Estim 0 112 0 35 1 cy in the sa bankrupt co test for com analysis Data e ws the Ra nant regress higher. Keywords: 052x; analysis; bankrup; com; finance; ink.org/ajfa; issn; journal; logit; model; nkruptcy; probit; ptcy; ratio; table; vol
• Evaluating Earnings Management in Taiwan’s Nonprofit Hospitals Using Cross-Sectional Abnormal Items Models by Liu, Zhenjia (2014) - Besides it, like other types of donor-based non-profit organizations, non-profit hospitals engage in business operations to maintain organizational sustainability while delivering social welfare. Thus, managers of non-profit hospitals also must consider the organization’s financial performance (Tan, 2011; Singh & Wheeler, 2012). Keywords: accruals; discretionary; earnings; gain; generating; hospitals; jones; management; model; revenue; year

• The Link between Profitability and Financial Leverage, Evidence from a Small Island Economy by Ramnoher, Lakshana; Seetah, Keshav (2020) - Furthermore, the average value for financial leverage is 63.48% which indicates that listed firms in Mauritius are highly geared since they have a leverage ratio greater than 50% on average. If the Bank of Mauritius lowers the Repo rate, then commercial banks may subsequently reduce their lending rate thereby encouraging listed firms to take additional debt. Keywords: association; debt; finance; firm; journal; leverage; profitability; relationship; theory
• The Effects of Agency Costs and Insiders’ Shareholdings on Financing Choices by Liu, Chia-Ying; Huang, Shiu-Chen; Chen, Shieh-Liang (2016) - As for equity agency cost, we also find the relationship that both current and prior periods’ equity agency costs are negatively related to seasoned equity offerings, implying that the firm with higher equity agency cost tends to conduct debt offerings in current period. It also examines the effects of the shareholdings of insiders on the association between both debt and equity agency costs and the choice of financing methods. Keywords: agency cost; assets; costs; debt agency; debt financing; equity agency; equity financing; equity offerings; firm; insiders; journal; period; shareholdings

• The Relationship between Liquidity and Firms’ Profitability: A Case Study of Karachi Stock Exchange by Bibi, Nazish; Amjad, Shehla (2017) - WORKING capital, firms performance and financial distress in firms listed in tehran stock exchange (TSE). Large firms purchase inventory in large quantities in order to get quantity discounts. Keywords: assets; capital; cash; firms; journal; liquidity; management; profitability; relationship; working
• Ownership Patterns and Control of Top 100 Turkish Listed Companies by Mustafa, Aree Saeed; Che-Ahmad, Ayoib; Chandren, Sitraselvi a/p (2017) - The divergence between controls rights (voting rights) and ownership rights (cash flow rights) relay on the length of the control-ownership chains of the pyramidal ownership structure. The study results indicate that the divergence between cash rights and control rights (wedge)in the top 100 Turkish firms is mainly achieved through pyramidal-ownership structure, dual class shares, Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 1 ajfa.macrothink.org 193 and cross-ownership at about 41%, 40% and 11%, respectively, while approximately 8% of firms do not use wedge. Keywords: cash; class; control; firms; flow; governance; holding; journal; ownership; pyramidal; rights; shareholders; shares; structure; turkey
• Politically Connected Independent Directors and Effective Tax Rates in China by Fan, Hong; Chen, Liqiang (2017) - By 2013, independent board directors who were retired government officials were receiving considerable attention from the media because the public questioned their legitimacy.2Investors were concerned that officials might bestow unearned benefits on firms before retiring from the government to secure positions as independent directors because the salary for an independent director is significant. First, our study contributes to the understanding of the role of independent board directors in China, which is understudied in the literature (Wang, 2015). Keywords: board; china; connections; directors; firms; government; independent; journal; non; soes; tax
• The Determinants of Capital Structure Decisions: Evidence from Chinese Listed Companies by Vijayakumaran, Sunitha; Vijayakumaran, Ratnam (2018) - Back to the beginning: persistence and the cross‐section of corporate capital structure. Previous empirical studies from developed countries (Titman and Wessels, 1988; Berger et al., 1997; Brailsfore et al., 2002; Florackis and Ozken, 2009), from developing economics (Wiwattanakantang, 1999; Booth et al., 2001; Pandey, 2001; Deesomsak et al., 2004), as well as in the context of Chinese firms (Chen and Strange, 2005; Zou and Xiao 2006; Haung and Song, 2006; Qian et al., 2009) all uniformly find that leverage is positively related to firm size. Keywords: capital; capital structure; chinese; debt; determinants; finance; firms; journal; leverage; relationship; structure; theory; vol
• The Impact of Managerial Entrenchment Indicators on Cash Holding Adjustments: Stock Exchange Firms by Oskouei, Zahra Hashemi; Aminifard, Zeynab (2019) - Also, there is a significant positive relationship between the over- investment risk and cash holding adjustments. These results suggest a significant positive relationship between the managerial entrenchment and cash holding adjustments. Keywords: adjustments; cash; cash holding; entrenchment; firms; holding; hypothesis; investment; relationship; variable
• Cash Conversion Cycle and Profitability, Evidence from Jordan by Al-Mohareb, Manar Moffadi (2019) - Abstract This study investigates the impact of working capital management and its components on profitability as a practical aspect, and how is compatible with the theoretical aspect. Practically, the results indicate that there is a significant relationship between the cash conversion cycle, which is considered as a proxy of working capital management, and profitability of the manufacturing firms. Keywords: capital; capital management; ccc; firms; management; manufacturing; profitability; relationship; working
• Do Agency Costs Really Matter? A Non-linear Approach of Panel Data by Fauzi, Fitriya; Locke, Stuart (2012) - Abstract This paper investigates the relationship between agency cost, ownership structure and corporate governance mechanisms. Furthermore, addressing the issue of non-linearity, this study confirms that the relationship between agency costs, ownership structures and corporate governance mechanisms are non-linear. Keywords: agency; agency costs; board; committee; costs; directors; finance; firms; governance; journal; new; non; ownership
• The Determinants of Capital Structure: An Empirical Study of New Zealand-Listed Firms by Fauzi, Fitriya; Basyith, Abdul; Idris, Muhammad (2013) - Apparently, few studies have been conducted to investigate the capital structure choices in New Zealand firms, and therefore it is necessary to conduct ongoing investigation in the pattern of capital structures. The New Zealand stock exchange (NZX) opens more opportunities for New Zealand firms to access funding sources. Keywords: capital; capital structure; debt; finance; financing; firms; journal; leverage; new; structure; tax; term; theory; total; zealand
• Internationalization and Capital Structure: Evidence from Malaysian Manufacturing Firms by Albaity, Mohamed Shikh; Ho Sel Chuan, Arison (2013) - Similarly, in confirming Aggarwal and Kyaw (2010) Lin and Hung (2012) compared the capital structure of electronic firms for domestic as well as international firms in Taiwan for 10 years. They found those leverage and dividend payouts are negatively related for international firms while the opposite is true for domestic firms. Keywords: capital; debt; finance; firms; international; journal; malaysia; ratio; relationship; structure; theory
• The Availability, Extent and Quality of Sustainability Reporting by Malaysian Listed Firms: Subsequent to Mandatory Disclosure by Abd-Mutalib, Hafizah; Jamil, Che Zuriana Muhammad; Wan-Hussin, Wan Nordin (2014) - Abstract The purpose of this study is to examine the availability, extent and quality of Sustainability Reporting (SR) by Malaysian firms subsequent to the mandatory disclosure. Prior to the mandatory disclosure, the level of SR by Malaysian firms are not extensive (Teoh & Thong, 1984), plus poor in quality and low in quantity (Thompson & Zakaria, 2004). Keywords: disclosure; et al; extent; firms; industry; journal; malaysian; quality; reporting; social; sustainability
• Management Entrenchment, Agency Problem and Audit Fees by Wang, Xinhua; Yang, Bibo (2011) - First, this study contributes to the corporate governance provisions research by providing empirical evidence that entrenchment provisions results in higher audit fees, suggesting entrenchment provisions lead to higher audit risk. Second, this study contributes to the auditing literature by providing empirical evidence that auditors charge higher audit fees for firms with more entrenchment governance provisions. Keywords: assets; audit; cash; entrenchment; fees; firms; journal; provisions
• The Determinants of Capital Structure: Empirical Analysis of Oil and Gas Firms during 2000-2015 by Shambor, Aws Yousef (2017) - The capital structure is analyzed in terms of the three main theories of capital structure: Trade-off theory, Pecking order theory, and Agency cost theory. Keywords: Capital structure, Global oil and gas index, leverage, tangibility, liquidity, size, profitability, growth, and the global financial crisis. Keywords: assets; capital structure; crisis; debt; determinants; finance; financial; firms; gas; gas firms; journal; leverage; oil; period; ratio; study; theory; total

• Accounting and Engineering Students' Perceptions of Good Teaching in Universities by Trireksani, Terri (2012) - esting” indic undergradu e two remai ores from ac 2.60, respe understand d rovide some d engineeri ments on the portant ind lecturers’ a ndergraduate duate studen tant indicat dicator only in the stude rts to under te students c Asian icant differe e given by t engineering ese three ind ceived the h ounting an and 4.11, r dents are go nitial indica ents for the comparison y the accou he engineeri perceived ceived by th hings very w ng undergra The comp cator showe uate student ining good ccounting a ctively for difficulties s e partial of ing undergr eir work, an icators of ability to exp e students a nts consider tor of goo as moderat ent percepti stand the di consider the n Journal of F ences betwe the enginee g undergrad dicators of g highest score nd engineer respectively oing”, and “ ation that th remaining n of the mea unting unde ing undergr by accoun he engineer well” indicat aduate stude arison of m ed a quite m ts and a sco teaching in and enginee “Motivate s students mi support for raduate stu nd feedback good teac plain as an also conside r the lecture od teaching tely importa ons on the ifficulties th ese two as im Finance & Ac ISSN 19 2012, Vol. -3.95 7 0.000 < 0.01 eptions of g scores on hown in Tab ons from th dents in al dents, excep compariso was the only ergraduate s irst year und r undergradu atistics and e students s s of good te G e ful ack ow nts oing Motiv stude to do t best w 8 3.5 8 1.2 1 5 3 3.4 0 1.2 1 5 53 0.85 0* 0.39 good teachin good teach bles 5a to 5 he descriptiv l good teac pt for the “ n of the m indicator th students, in dergraduate uate student d the compa showed that 340 eaching by g Good Teachi vate ents their work Expl thin ver wel 53 3.8 23 1.0 2 5 5 44 3.8 27 0.9 2 5 5 51 -0.7 95 0.45 ng by year o hing scales o 5c. Keywords: 052x; finance; good; graduate; indicato; ink.org/ajfa; issn; mean; scores; students; study; teaching; undergr; vol; work; www.macrothi; year

• Effect of Liberalization of Amman Stock Market on the Prices Fluctuation for the Period (1994-2015) by Alrafaya, Ahmad Abdalla (2018) - Thus, the essentiality of financial market liberalization is to liberalize the capital account by restrictions and controls removal on capital movements of short periods across national borders, giving the market an absolute effectiveness in the processes of guaranteeing, distributing and allocating financial resources, determining the prices of financial processes depending on supply and demand, cancellation of governmental financial control and giving banks and financial institutions complete independence, and not to impose any restrictions on the free entry and exit of the financial services industry. Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 1 286 ajfa.macrothink.org When conducting data analysis process to know the effect of financial market liberalization on the market’s fluctuations through stocks' return, there is a need for answering the following questions: 1. Keywords: capital; effect; fluctuations; information; journal; liberalization; market fluctuations; market liberalization; markets; period; prices; returns; stock market; study
• The Impact of Human Capital Development Cost on the Net Income and Dividend: An Applied Study over Jordanian Islamic Banks by Aqeel Al-Bawab, Atef; Al-Rawashdeh, Hani Ali Aref (2018) - Abstract The study aimed at identifying the effect of the cost of Human capital development through training employees on the net income and dividend at Jordanian Islamic banks; three banks. The study concluded several results, the most important are: There is an effect for the cost of training employees over the pre-tax annual profit development at Jordanian Islamic banks with variant proportions. Keywords: banks; capital; cost; effect; employees; islamic; study; training employees
• Investment and Growth Amidst Widening Government Debt: “The Ghanaian Story” by Mawutor, John Kwaku Mensah; Boachie Yiadom, Eric; Amankwa, Richard Fosu (2019) - Abstract The study revisits the debt-growth nexus and broadens the argument to examine the unique effect of government debt on investment in Ghana. The empirical results from the Multiple Linear Regression (MLR) suggest an inverse relationship between government debt and economic growth in Ghana. Keywords: capital; debt; economic; economy; effect; gdp; ghana; government; growth; investment; journal
• Capital Flight and Nigeria Economic Growth by BOBOYE, AJAYI LAWRENCE (2012) - Khern and Hague (1987) estimated capital flight from four- sub-Saharan, Nigeria, Sudan, Tanzania and Uganda) from 1976 to 1989, using their estimates capital flight may seem small compares to Latina American countries but the burden as a percentage of GPD is higher by 61% of sub- Saharan compared to 22% for Latin American. Abstract This paper provides evidence on the negative impact of the assessment of capital flight on economic growth of Nigeria for 40 years (1970-2009). Keywords: capital; capital flight; countries; debt; external; finance; flight; investment; nigeria; study; variables
• Determinants of Foreign Portfolio Inflows: Analysis and Implications for China by Ahmad, Fayyaz; Draz, Muhammad Umar; Yang, Su-chang (2015) - Consequently, FPI investors started investing in the Indian market for the first time in 1991. Investment in foreign countries is a source of earning as well as helpful to diversify the portfolio risk of the investors. Keywords: capital; china; countries; determinants; flows; fpi; growth; investment; investors; journal; portfolio; variables

• Corporate Governance in Banks and its Impact on Credit and Liquidity Risks: Case of Tunisian Banks by DJEBALI, Nesrine; ZAGHDOUDI, Khemais (2019) - These findings enable bank managers to better understand the factors influencing bank risk and serve as a basis for regulations to strengthen bank governance. This measure has been used in previous work, such as Simpson and Gleason (1999), Sumner and Webb (2005) and Pathan (2009), where they examined the link between board size and bank risks. Keywords: banking; banks; board; credit; credit risk; directors; finance; financial; governance; journal; liquidity; liquidity risk; results; risk; state; tunisian
• Determinants of Systemic Risk of Banks in India by Dash, Mihir (2019) - Literature Review Measurement of Systemic Risk There are many definitions of systemic risk and systemic importance advocated in the literature, and many more approaches proposed for their measurement. Determinants of Systemic Risk Several studies have analysed the determinants of systemic risk and systemic importance of banks. Keywords: assets; banks; funds; impact; income; interest; net; ratio; risk; sector; sector banks; total
• Determinants of Capital Adequacy Ratio of Commercial Banks in Nepal by Bhattarai, Bishnu Prasad (2020) - Overall, the findings support a conclusion that changes in bank capital over the period studied have been ‘risk-based’. The results of the study revealed that the liquidity has positive and statistically significant effects on capital adequacy ratio. Keywords: adequacy ratio; assets; banks; capital adequacy; car; effect; journal; liquidity; quality; rate; risk; size; study; variables
• Ownership Structure and Non-Performing Loans: Evidence from Pakistan by Ahmad, Fawad (2013) - Bank ownership and performance: Does politics matter? They further proved that capital regulation, bank risk, restriction on bank activities and deposit insurance policies depends on the banks ownership structure. Keywords: banks; control; finance; journal; npls; ownership; results; risk; riskiness; structure; study
• Risk Conception and Evaluation in Taiwan Financial Markets by Jan, Yin-Ching (2014) - The first part explores what kind of risk investors care about. To separate these two return pattern by risk measure, Jan (2014) propose a weighted martingale semivariance (WMSVAR), which is reached by the combination of the martingale semivariance and the use of weighted average method. Keywords: asset; investors; martingale; return; risk; semivariance; variance
• Are Larger Self Managed Superannuation Funds Riskier? by Phillips, Peter J (2009) - Percentage of Portfolio in Risky Assets Vs Portfolio Net Worth (Cross-Classification Analysis) Portfolio Net Worth (100 Portfolios) 0% to 40% invested in risky assets 40% to 60% invested in risky assets 60% to 75% invested in risky assets 75% to 100% invested in risky assets Total $0 to $500,000 0.00 0.04166 0.04166 0.9166 1.00 $500,000 to $1,000,000 0.0344 0.0344 0.00 0.9310 1.00 $1,000,000 to $1,500,000 0.00 0.00 0.00 1.00 1.00 $1,500,000 to $2,000,000 0.00 0.00 0.00 1.00 1.00 $2,000,000 + 0.00 0.00 0.2222 0.7777 1.00 In Tables 4 and 5, the data are tabulated according to portfolio net worth (rows) and proportions of total portfolio net worth invested in risky assets (columns). In the table below, the table‟s variables are (1) categories of portfolio net worth; and (2) percentage invested in risky assets. Keywords: allocations; assets; cash; funds; net; portfolio; risk; sample; smsf; worth
• Empirical Testing of Capital Asset Pricing Model on Bahrain Bourse by Hawaldar, Iqbal Thonse (2015) - Objectives of the Study The objectives of the study are: To find out the relationship between market returns and returns on portfolio. Abstract The study is undertaken to find out the relationship between portfolio returns and market returns and test the empirical validity of the standard CAPM model on Bahrain Bourse. Keywords: beta; journal; portfolio; returns; risk

• Generalised Lambda Distributions by Method of Moments and Maximum Likelihood using the JSE-ASI Returns by Owusu Junior, Peterson; Korkpoe, Carl H. (2017) - Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 1 ajfa.macrothink.org 225 Keywords: generalised hyperbolic distribution (GHD), generalised lambda distribution (GLD), modified Bessel function, MLE, GMM Asian Journal of Finance & Accounting ISSN 1946-052X 2017, Vol. 9, No. 1 ajfa.macrothink.org 226 1. Pfaff (2013) for instance, applies the GHD and its special cases, namely; hyperbolic distribution (HYP), normal inverse Gaussian distribution (NIG), and generalised lambda distribution (GLD) to financial market data; the Hewlett-Packard (HWP), to draw useful insights. Keywords: data; distribution; estimation; finance; gld; gmm; journal; lambda; likelihood; method; moments; returns
• A Study on the Effect of Portfolio Allocation on Mutual Funds by Dash, Mihir; S., Rita (2023) - The objective of the study was to find the short-term effects of portfolio allocation on the performance of mutual funds. Keywords: asset management company, portfolio allocations, returns, performance, debt funds, equity funds Asian Journal of Finance & Accounting ISSN 1946-052X 2023, Vol. 15, No. 1 ajfa.macrothink.org/ 67 Introduction There are hundreds of mutual funds in the market, each offering different returns. Keywords: allocation; equity; funds; mean; returns; sectors; sig; table
• Zodiac Calendar and Market Returns by Meisami, Alex (2013) - Hang Seng Heavenly Stem Mean Median StDev Occurrence Yin Earth 47.22% 46.76% 35.49% 5 Yin Fire -8.89% -9.18% 17.09% 5 Yin Metal 7.43% -10.08% 37.60% 5 Yin Water 20.27% 28.62% 67.56% 4 Yin Wood 37.43% 39.55% 22.07% 4 Yang Earth 18.51% 27.64% 41.96% 5 Yang Fire 20.95% 18.13% 19.84% 5 Yang Metal 25.56% 22.22% 27.94% 5 Yang Water 63.14% 18.98% 146.20% 5 Yang Wood -11.81% -14.10% 34.01% 4 f-value (0.74) p-value (0.6662) Panel B: S&P 500 Twelve Zodiac Animals and Market Returns Panel A: Hang Seng Year Mean Median StDev Occurrence Rat 81.30% 22.89% 163.14% 4 Ox -6.43% -2.01% 52.89% 4 Tiger 3.96% 8.08% 38.66% 4 Rabbit 27.77% 24.92% 47.36% 4 Dragon 15.44% 17.02% 17.18% 4 Snake -15.79% -10.13% 13.41% 3 Horse 7.40% 7.75% 20.55% 4 Sheep 36.20% 41.62% 37.64% 4 Monkey 41.40% 45.22% 33.82% 4 Rooster 34.94% 28.77% 44.66% 4 Dog -1.11% -1.89% 36.21% 4 Boar 34.26% 34.28% 22.71% 4 f-value (0.78) p-value (0.6557) Panel B: Keywords: mean; returns; yang; year; yin; zodiac

• Merchant Banking Operation: A Case Study of Selected Merchant Banks in Bangladesh by Huda, Farzana; Chowdhury, Tanbir Ahmed (2017) - Performance Evaluation of Selected Merchant Banks of Bangladesh This section evaluates the activities, development and prospect of selected merchant banks from year 2011 to 2015. In esteem to this analysis various variables i.e. investment in securities, margin loan to clients, brokerage commission, capital gain/loss from securities, portfolio management services, issue management fees, corporate advisory fees and underwriting commission and their growth percentage has been considered to evaluate the performance of selected merchant banks in Bangladesh. Keywords: banks; finance; growth; investment ltd; ltd; management; merchant; table; trend
• The Factors That Affect To Attract Deposits in Palestinian Islamic Banks by Jaber, Amer Saadi; Manasrah, Mohammed Shuaib (2017) - - Third: the Experience of customer service staff in Palestinian Islamic banks. - Forth: the diversity and the development of services offered by Islamic banks in Palestine. 6.1.2 Cevik and Charap, (2011), a study entitled the behavior of return on deposits of Islamic banks and conventional banks in Malaysia and Turkey This study aimed to test the behavior of interest rates on bank deposits at conventional banks and the rate of return on investment accounts involved in the profit and loss among Islamic banks. Keywords: banks; deposits; high; islamic; palestine; palestinian; study
• Essential of Central Bank’s Regulatory Policy to Strengthen Green Banking Practice and Reporting in a Country by Ghosh, Sutap Kumar; Ghosh, Protap Kumar; Chowdhury, Sabrin (2018) - Present scenario of Green Banking practices and central bank Green Banking policies in Indian sub-continent (India, Bangladesh and Pakistan) are disclosed first and then how central bank regulatory Asian Journal of Finance & Accounting ISSN 1946-052X 2018, Vol. 10, No. 2 ajfa.macrothink.org 134 policies can create a competitive advantage to accelerate Green Banking practice in a country are disclosed. Abstract This paper has been designed to investigate the current scenarios of Green Banking practices in Indian sub-continent and to disclose how central bank’s direct regulatory policy strengthens mandatory Green Banking practice and reporting in a country. Keywords: activities; bangladesh; banking; banking practices; banks; business; finance; green; india; journal; management; pakistan; practices; sector
• Financial Engineering and Its Role in the Growth and Development of Islamic Banking in Palestine by Jaber, Amer S. (2018) - The Situation of This Study from Previous Ones It is clear from the analysis of previous studies that they addressed mainly the concept of innovation and Islamic financial engineering and its reflection on Islamic banks, including the application of financial engineering as a tool to reduce risk in some financing tools. Islamic banks in Palestine should re-formulate their tools and products, or create new ones in a creative way, in line with the global developments in the field of Islamic banking. Keywords: banking; banks; development; engineering; financial; islamic; palestine; study
• Evaluate the Profitability in Commercial Bank - Comparative Study of Indian and Jordanian Banks by Alrabei, Ali Mahmoud (2013) - This study implies that high profit banks earn higher return on their assets than that of low profit banks. At the same time high profit banks enjoy lower expenses for their liabilities. Keywords: banks; cab; operating; profit ratio; profitability; return; sbi; study
• The Reflection of Applying New Developed Approaches in Accounting Information System on Investment and Credit Decisions in commercial banks in Aqaba Special Economic Zone by Saleh, Mousa Mohammed; Al Amaideh, Ziad Odeh; Baniatta, Haitham Mahmoud; Alrjoub, Ashraf Mohammad (2014) - organization employs modern methods to develop the skills of interaction between users of accounting information systems and those systems 3.19 1.10 1.58 0.12 9. electronic devices available to the Bank are of a high efficiency 4.01 1.01 9.27 0.00 Total 3.96 0.47 18.88 0.00 Hypothesis 2: Banks benefits from modern accounting information systems in credit and investment decision-making in commercial banks operating in the Aqaba Special economic zone. http://dx.doi.org/10.5296/ajfa.v6i1.4527 Abstract This study aimed at investigating the applicability of applying commercial banks in Aqaba to the modern methods of accounting information systems in its accounting and usefulness of such data when making decisions related to the interests of the banks and their customers credit and investment interests and achieve client satisfaction, and if there are differences between those banks in the application of those regulations and the degree of utilization. Keywords: accounting information; accounting systems; banks; credit; information systems; investment; mean; methods; study
• Determinants of Operational Efficiency in Asian Banking: A Two-stage Banking Model Analysis by Shyu, Jonchi; Lin, Jia-Chi; Wu, Chen-Kuang (2014) - 2.2 Cross-country analysis of bank efficiency In Lim and Randhawa’ (2005) comparison of banking efficiency in Hong Kong and Singapore, which was based on banks playing the two roles with equal importance. Based on the above studies, we can conclude that the ROA, asset size, loan loss reserves to total loans, non-interest expenses to total assets, equity to total assets, market concentration rate, and GDP growth rate have a significant effect on bank efficiency. Keywords: banking; banks; efficiency; finance; hong; interest; intermediation; journal; kong; production; production stage; stage; taiwan; values
• Impact of Cashless Banking on Banks’ Profitability (Evidence from Nigeria) by Itah, Alagh Jacinta; Emmanuel, Ene Emeka (2014) - Taking natural logs of both sides of the equation, we have: 31 2log log log log log 3tROE ATM POS WBTα β β β μ= + + + + − − − − − − − − − We then differentiate partially with respect to the log of each variable to obtain elasticity of ROE and a priori sign expectation of equation (4); 1 log 0 4 log t t t t ATMROE ROE ATM ATM ROE β   ∂ ∂= = > − − − − − − − − − − − −  ∂ ∂   2 log 0 5 log t t t t POSROE ROE POS POS ROE β   ∂ ∂= = > Keywords: atm; banking; banks; cashless; finance; journal; money; nigeria; payment; pos; quarter; roe; system; − −
• Priority Sector Lending by Commercial Banks in India: An Evaluative Study by Ahmed, Jaynal (2010) - Department of Banking Supervision (1999) 7 studied the impact of priority sector advances on NPAs and found that the incidence of NPAs in priority sector is much higher in view of the fact that priority sector advances constitute 30-32 per cent of the gross bank credit. The present paper is an attempt to diagnose empirically the various lacunas of priority sector advances by commercial banks in the area under consideration in the context of national scenario. Keywords: advances; banks; cent; credit; district; finance; india; lending; march; npas; priority sector; sector; sector advances; study
• How do the Banking Systems of Vietnam, China and India Fare? by Nguyen, Thanh Pham Thien (2015) - Firstly, although there are a large number of studies on bank efficiency either across or within countries over the last two decades, this is the first study of differences and similarities in the efficiency of banks across Vietnam, China and India. Secondly, this is the first study measuring bank efficiency by simultaneously considering the three most important economic aspects: cost, revenue and profit efficiencies. Keywords: banking; banks; china; cost; crisis; efficiency; india; interest; profit; revenue; state; state banks; vietnam
• Corporate Governance and Bank Competition Empirical Study on the Jordanian Commercial Banks Listed in Amman Stock Exchange over the Period (2001-2014) by Hashem, Abdulrahman; Ayoub, Fadi Mousa; Ata, Haitham Bani (2015) - Bank competition is tested by using Panzar and Rosse H statistics model and the researchers applied it on the collected data into two periods of time (2001-2007 and 2008-2014), taking into consideration that corporate governance was first implemented in the Jordanian banking sector on 31/12/2007. The results showed insignificant effect of corporate governance on bank competition that can be linked to certain reasons including the immaturity of corporate governance’s implementation in the Jordanian banking sector, the socio political upheavals that affected Jordan, and the differentiation of bank services between banks led to a more monopolistic behavior. Keywords: banking; banks; competition; degree; finance; governance; panzar; rosse
• Barriers to Islamic Banking Growth- Bank Employees’ Perspective from Pakistan by Bashir, Adnan; Sajid, Mirza Rizwan; Iqbal, Samra (2011) - His respondents were Islamic bank customers. Our findings indicate that according to over all sample small network of branches, inadequate info about Islamic banking services, ignorance to teachings of Islam, trust deficiency towards Interest free banking and location of banks as the main reason for mere rise of Islamic banking. Keywords: banking; banks; disagree; employees; finance; islamic; journal; services

• Economic Growth and Financial Development Nexus in Malaysia: Dynamic Simultaneous Equations Models by Mugableh, Mohamed Ibrahim; Oudat, Mohammad Salem (2018) - These policies have been concentrated on stimulating economic growth and achieving the 2020 vision. A 1% increases in energy consumption and gross fixed capital formation add in economic growth by 0.98 and 14.2, respectively. Keywords: causality; development; economic; energy; finance; financial; gdp; growth; journal; results; run; variables;  

• The Impact of Saving and Financial Development on Economic Growth in Turkey by Altaee, Hatem Hatef Abdulkadhim; Al-Jafari, Mohamed Khaled (2019) - As mentioned earlier, there is no shortages in literature (Demirhan, 2016; Yildiz and Atasaygin, 2015; Zeran and Akbas, 2013; Şamiloğlu and Savaş, 2010) that studied the influences of different economic variables on economic growth in Turkey. Abstract Since saving and financial development are vital to economic growth, this research empirically investigates the impact of saving and financial development on economic growth in Turkey. Keywords: development; gdp; growth; journal; relationship; results; run; saving; turkey; variables
• Disclosure Quality and Corporate Governance: Evidence from Iran by Soheilyfar, Fatemeh; Tamimi, Mohammad; Ahmadi, Mohammad Ramezan; Takhtaei, Nasrollah (2014) - http://dx.doi.org/10.5296/ajfa.v6i2.6000 Abstract This study explores the relationship between disclosure quality and corporate governance in Tehran stock exchange (TSE). On the other hand, the measure of disclosure quality calculated by the Stock Exchange Organization (SEO) has been used as a proxy for disclosure quality. Keywords: board; disclosure; quality; relationship; variable; − −

• Determinants of Bank Profitability in Ghana: New Evidence by Anarfi, Daniel; Abakah, Emmanuel Joel Aikins; Boateng, Eunice (2016) - Introduction The objective of this study is to investigate the determinants banks profitability for the period of 2007-2014. Also the ROA as a measurement for bank profitability shows bank management’s efficiency in managing its capitals to acquire assets and make earnings from it (Jamal & Karim, 2012). Keywords: assets; bank; determinants; journal; profitability; roa; total; variables

• Does Islamic Interbank Rate Influence Bank Characteristics and Economic Cycle in Malaysian Monetary Transmission? by Muhammad, Fidlizan; Mohamad, Ahmad Azam Sulaiman; Mohd Hussin, Mohd Yahya; Abdul Razak, Azila (2012) - accordingly, Islamic banks are the significant intermediaries in ensuring the effect of policy implementation provides stimulation to the achievement of the desired economic goals. Based on equation (1), TF which represents the amount of financing Islamic banks is regressed with real GDP growth as a control variable for controlling the change in loan demand. Keywords: bank; banking; channel; credit; economic; financing; islamic; policy; rate; transmission; variables
• Public Debt and the Crisis of Development in Nigeria Econometric Investigation by Udoka, Chris O.; Ogege, Samson (2012) - On the concept of debt burden, Cohen (1992) posited that external debt does not constitute a burden when contracted loans are optimally deployed and the returns on investment is enough to meet maturing obligations, while the surviving of the domestic economy is not undermined. The debt crisis has also generated controversy as to the exact meaning of debt and external debt (Nzotta, 2004). Keywords: burden; debt; development; economic; economy; finance; growth; journal; log; nigeria; variables

• Is Temporary Trading Halt Mechanism for New Shares on The First Day of Trading Conducive to Curbing Speculations? by Shi, Kai; Nie, Li (2014) - In order to take precautions against the risk of newly listed shares on the first-day of trading as well as cooperate with IPO System Reform, SZSE made a bold move which stressed direct executive interference on IPO shares’ first day performance and released “Notice on Further Optimizing the Temporary Trading Halt Mechanism for Newly-listed Shares during First-day Trading” (the Notice), highlighting the role of Trading Halt Mechanisms. First, under the new scheme, transactions about newly-listed shares will be halted for one hour if the price volatility relative to the opening price by as much as 10% during its first trading day. Keywords: day; diff; halt; ipo; matching; mean; price; shares; trading; treatment

• Spinoffs and Firm Policy by Ahn, Seoungpil (2017) - In addition, spinoff firms shall have financial data for both parent and spinoff units on Compustat for at least two years around the spinoff and stock return data on CRSP around the spinoff announcement date. Finally, I require that both parent and spinoff units have proxy statements filed in Lexis-Lexus for two years around the spinoff. Keywords: board; ownership; parents; size; spinoff; structure; units

• Efficiency and Productivity of Commercial Banks in Nepal: A Malmquist Index Approach by Neupane, Biwesh (2013) - NMB 0.902 1.000 0.902 1.000 1.000 Mean 1.052 0.997 1.055 0.999 0.998 Note: TFCH – Total Productivity Change, EFFCH – Efficiency Change, TECHCH- Technology Change, PECH- Pure Efficiency Change, SECH- Scale Efficiency Change Regression analysis of efficiency scores and determinants of efficiency With the objective to analyze the determinants of bank efficiency, regression analysis is conducted. It also reports that the decline in efficiency change is due to decline in both pure efficiency change and scale efficiency change. Keywords: bank; banking; change; commercial; efficiency; efficiency change; finance; index; journal; limited; malmquist; nepal; period; productivity; scale; table; total

• Tracking Errors of Exchange Traded Funds in Bursa Malaysia by Ku, Alfred Ing-Soon; Liew, Venus Khim-Sen; Puah, Chin-Hong (2019) - Asian Journal of Finance & Accounting ISSN 1946-052X 2019, Vol. 11, No. 2 ajfa.macrothink.org/ 99 Trading volume of Malaysia ETFs on exchange have been thin since inception. The ranking of the remainder ETFs, in the ascending order of tracking error is MYETFID, METFSID, MYETFDJ, CIMC50, FBMKLCI-EA and CIMBA40 (highest tracking error). Keywords: error; etfs; funds; index; journal; malaysia; metfapa; return; tracking
• The Internal Rate of Return Model for Life Insurance Policies by Dash, Mihir (2016) - Maturity -4.00% -3.00% -2.00% -1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 Age Rs. 1 A comparison was then made separately for unadjusted rate of return and mortality-adjusted rate of return in terms of sum assured, in terms of the products, and finally in terms of maturity period. Keywords: lakh; maturity; plan; rate; return

• Location, Industry Competition and Profitability by Tavakolnia, Esmail; Makrani, Seyed Vali Mostafavi (2016) - Also, although increasing companies and factories in Tehran and big cities is not desirable in terms of political and macro-economic policies, but according to the results of the study, being located in Tehran or big cities can be recommended as one of the ways of increasing profitability for companies operating in food industries listed in Tehran Stock Exchange. Therefore, this study investigates and tests this issue at the level of food industry companies listed in Tehran Stock Exchange, and at the same time, examines the effects of industry competition on this relationship. Keywords: company; distance; earnings; impact; industry; location; profitability; sig; tax; tehran

• The Effect of Re-engineering of Administrative Processes in Achieving the Competitive Advantage of Sustainable in Five-Star Hotels in Jordan - Field Study by EL-Dalahmeh, Suleiman Mustafa (2019) - R 2 interprets 22% The value of beta 0.523 indicates that the change in the ability to analyze by one unit leads to an increase in the achievement of sustainable competitive advantage by 0.523 and therefore reject the null hypothesis HO1.2 and accept the alternative hypothesis which states that there is a statistically significant effect at the level of significance α ≤ 0.05 for the ability to analyze the probe Sustainable Competitive Advantage in Five Star Hotels in Jordan The results of the regression analysis of the impact of leadership in achieving sustainable competitive advantage Independent Variable Dependent variable α Alpha β Beta R2 F Sign (0.05) Hypothesis Result Leadership Sustainable of competitive advantage 2.43 0.506 %18 17.52 Rejected The value of the table F at a level of significance (0.05) = 3.00 The data in Table 3 show that the value of Beta = 0.506 indicates that the change in leadership leads to an increase in the achievement of sustainable competitive advantage and therefore rejects the null hypothesis HO1.1 and accepts the alternative hypothesis which states there is a statistically significant effect at the α ≤ 0.05 level To lead the sustainable competitive advantage of five-star hotels in Jordan . Keywords: achieving; administrative; advantage; effect; engineering; jordan; processes; star hotels; study

• Costs and Benefits of Foreign Direct Investment to Azerbaijan’s Economy: The Case of Oil Sector by COSKUN, Ali; MAMMADOVA, Gulkhanim (2015) - In this study, we present the role of the oil sector in Azerbaijan’s economy, investigate the foreign direct investment in Azerbaijan oil sector and analyze the costs and benefits of foreign direct investment in oil industry to the Azerbaijan’s economy. On the other hand, foreign direct investment in Azerbaijan oil sector has great benefits for the economy, especially in terms of significant developments at macroeconomic indicators such as rapid increase in GDP. Keywords: azerbaijan; azerbaijan oil; country; development; economy; fdi; finance; foreign; government; investment; investors; journal; oil; oil sector; sector

• Theoretical Aspects of Economic Balanced Scorecard Analysis by Krylov, Sergey Ivanovich (2014) - Concluding remarks To complete the treatment of the applied strategic analysis we draw a number of conclusions: applied strategic analysis (ASA) may be considered as a new lead of scientific research and practical application in the field of strategic organization management; ASA concept emerged from the BSC concept development arising the need to transform a financial analysis of the organization activity into a broader and complex concept; ASA is a BSC indicators research instrument and assumes their comparative assessment, variance diagnostics and forecast; ASA comprises four basic leads: financial indicators analysis, customer indicators analysis, internal business-processes indicators analysis and training and personnel development indicators analysis; ASA concept may evolve into specific methods, economic-mathematic models and software to be practically applied. (1) Where R is a sum of the ASA elements; i is an index of the basic ASA leads: 1 is financial indicators analysis, 2 is customer indicators analysis, 3 is internal business-processes analysis, 4 is training and personnel development analysis; Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 1 www.macrothink.org/ajfa 98 j is an index of the basic ASA objectives: 1 is a comparative evaluation of the BSC indicators, 2 diagnostics of the BSC indicators divergence, 3 is BSC indicators forecast. Keywords: analysis; bsc; business; customer; development; indicators; indicators analysis; new; products; sales

• Still on China's exchange regime: the Euro and its role as an international anchor currency by Mele, Marco; Baistrocchi, Paola Allegra (2012) - It also brought about the adoption of a new Asian Journal of Finance & Accounting ISSN 1946-052X 2012, Vol. 4, No. 1 www.macrothink.org/ajfa 208 exchange rate regime focused on the partial withdrawal of the Dollar, in favor of an exchange rate based on a basket of international currencies. In detail, the functions of an international currency are closely linked in regimes in which other currencies are tethered to a key currency, so that it is able to become a unit of account for the system. Keywords: basket; chinese; currency; dollar; euro; exchange; peg; rate
• Value Added Tax and Consumer Spending: A Graphical Descriptive Analysis by Gelardi, Alexander M. G. (2012) - As consumer behavior is subject to many factors other than consumption taxes, the graphs will show the three months before the introduction (or rate change), the month of the introduction or rate change and the three months after. Percentage change in retail volume from same month of prior year Here it can be seen that the percentage change in the retail volume from the same month of the prior year is much more substantial for the UK from March to April. Keywords: canada; change; rate; retail; tax; vat; volume
• Value Added Tax and Inflation: A Graphical and Statistical Analysis by Gelardi, Alexander (2014) - Since the rate had been dropping prior to the change in VAT rate and continued to drop after the change, it cannot be claimed that the change had any differential effect. The results from both the UK and Canada indicate that a major change in VAT rates would have an inflationary impact, whereas a minor change would not. Keywords: canada; change; cpi; increase; rate; tax; vat

• Wealth Creators in the Banking Sector in UAE during 2010-2015 Period by Kumar, Rajesh; K S, Sujit (2015) - Commercial Bank of Dubai and Gulf Finance House had an average yearly returns of approximately 60 per cent and 54 per cent during the five year period 2010-2014.Abu Dhabi Commercial Bank and Ajman Bank had an average yearly returns of 50 percent and 43 percent during the period 2010-2014.Emirates NBD registered an yearly average return of approximately 42 per cent during the five year period 2010-2014.Dubai Islamic Bank had registered an average return of 38.6 per cent during the five year period 2010-2014. Abu Dhabi Commercial Bank and Dubai Islamic Bank stock had given the highest average holding period yield during the period 2010-2014.Out of the 19 banks studied, 16 banks had positive average holding period yield. Keywords: bank; year

• The Percent-Change Extension to the DuPont Identity by Eagle, David; Djatej, Arsen (2012) - DuPont Identity Example 4 time Profit Margin Total Asset Turnover Equity Multiplier ROE 2008 10.00% 1.28 1.2 15.36% 2009 9.00 1.30 1.4 16.38% % increase -10.00% +1.56% +16.67% +6.64% instantaneous % increase -10.54% +1.55% +15.42% +6.43% Table 4 presents an example where the growth rate formula (6) or its approximation (7) is more useful than the DuPont Identity itself for determining the real reason behind a ROE increase. +20.00% +8.33% +17.00% instantaneous % increase -10.54% +18.23% +8.00% +15.70% If we apply the approximation (7), we would conclude that the ROE decreased by approximately 23.33% (=10%-33.33%). Keywords: analysis; change; dupont; identity; increase; rates; roe

• The Effect of Adopting Activity – Based Costing (ABC) on Maximizing Profitability in Jordanian Private Health Care Sector by El-Dalahmeh, Suleiman (2020) - Arithmetic averages and standard deviations of the role of ABC cost system in maximizing profitability. HO3: There are no obstacle that facing the Jordanian private hospitals in the applying of activity based costing system. Keywords: abc; activity; costing; costs; hospitals; study; system
• Measuring the Success of Information Systems (IS) from Users’ Point of View Using Goodhue Index by Saeidi, Parviz; Marzban, Azin Malek (2012) - ceptual Mo f the assessm was presen ted this mod f quantitativ ystem point as a conce s in the fiel ve was to m ation system close relatio preliminar eded inform hat this rese mation on th uestions of to measure and users o used. Evaluating n system th ment inform stations an charge. Keywords: ation; fit; informa; success; system; task; user; vol

• Does the Relationship between Accounting Disclosure and Bank Loan Contracts Vary with Borrower Characteristics? Evidence from Emerging Markets by Li, Dekui; Song, Liang; Zhang, Zhaoguo (2014) - We find that the effects of accounting disclosure on bank loan contracting terms such as the loan size, the loan maturity, and the loan spread, are more significant for borrowers with smaller size, higher leverage, lower profitability, lower tangibility, less diversity, younger age, and less lending Asian Journal of Finance & Accounting ISSN 1946-052X 2014, Vol. 6, No. 1 www.macrothink.org/ajfa 441 relationship. These results suggest that the relationship between accounting disclosure and bank loan contracting terms are more pronounced for firms with higher credit risk. Keywords: accounting disclosure; bank loan; effects; loan; loan contracting; loan maturity; loan size; loan spread

• The Influence of CSRSCPAs and the Quality of Financial Statements by Liu, Li-Lun; Huang, Yu-Ting (2018) - CrossRef Directory of Research Journals Indexing DTU FindIt (DTU Library) EconBiz Electronic Journals Library EZB (Elektronische Zeitschriftenbibliothek) Google Scholar HOLLIS (Harvard Library) ICI World of Journals Index Copernicus PKP Open Archives Harvester Publons RePEc Scilit SHERPA/RoMEO The Standard Periodical Directory Information For Readers For Authors For Librarians Asian Journal of Finance & Accounting ISSN 1946-052X Email: ajfa@macrothink.org Search | Asian Journal of Finance & Accounting Skip to main content Skip to main navigation menu Skip to site footer Asian Journal of Finance & Accounting Current Archives For Authors Submissions Author Guidelines Pay Article Processing Charge Ethical Guidelines For Reviewers Editorial Team Recruitment Reviewers Publication Policies Announcements About About the Journal Privacy Statement Contact Search Search Register Login Home / Search Search Search articles for Advanced filters Published After 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 January February March April May June July August September October November December 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Published Before 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 January February March April May June July August September October November December 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 By Author Search No Results Make a Submission ISSN: 1946-052X Started: 2009 Frequency: Semiannual Author Guidelines Publication Policies Pay Article Processing Charge Editorial Team Recruitment Reviewers Ethical Guidelines The journal is included and abstracted in:  BASE (Bielefeld Academic Search Engine) Keywords: journal; search
• The Relationships between Director-Auditor Link and Audit Opinion by Malek, Mazrah; Che Ahmad, Ayoib (2011) - CrossRef Directory of Research Journals Indexing DTU FindIt (DTU Library) EconBiz Electronic Journals Library EZB (Elektronische Zeitschriftenbibliothek) Google Scholar HOLLIS (Harvard Library) ICI World of Journals Index Copernicus PKP Open Archives Harvester Publons RePEc Scilit SHERPA/RoMEO The Standard Periodical Directory Information For Readers For Authors For Librarians Asian Journal of Finance & Accounting ISSN 1946-052X Email: ajfa@macrothink.org Search | Asian Journal of Finance & Accounting Skip to main content Skip to main navigation menu Skip to site footer Asian Journal of Finance & Accounting Current Archives For Authors Submissions Author Guidelines Pay Article Processing Charge Ethical Guidelines For Reviewers Editorial Team Recruitment Reviewers Publication Policies Announcements About About the Journal Privacy Statement Contact Search Search Register Login Home / Search Search Search articles for Advanced filters Published After 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 January February March April May June July August September October November December 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Published Before 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 January February March April May June July August September October November December 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 By Author Search No Results Make a Submission ISSN: 1946-052X Started: 2009 Frequency: Semiannual Author Guidelines Publication Policies Pay Article Processing Charge Editorial Team Recruitment Reviewers Ethical Guidelines The journal is included and abstracted in:  BASE (Bielefeld Academic Search Engine) Keywords: journal; search

Epilogue

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Created: 2025-12-24