CJFA_11_4_2023_DRUK_25.07.23.pdf Copernican Journal of Finance & Accounting Copernican Journal of Finance & Accounting e-ISSN: 2300-3065 p-ISSN: 2300-1240 Volume 11 Issue 4 2022 quarterly EDITORIAL BOARD EDITOR IN CHIEF: prof. dr hab. Leszek Dziawgo EXECUTIVE EDITOR: dr Dorota Krupa ASSOCIATE EDITORS: SECRETARY: dr hab. Damian Walczak, prof. UMK, mgr Anna Olewnik-Dejewska SCIENTIFIC COUNCIL Prof. Mustafa Akan, Dogus University, Istanbul, Turkey Prof. Gordon Chang, National Taiwan University of Science and Technology, Taiwan Prof. Sandra Isabel Goncalves da Saude, Instituto Politecnico de Beja, Portugal Prof. Luis Otero González, Universidad de Santiago de Compostela, Spain Prof. Christiane Goodfellow, Jade Hochschule Wilhelmshaven, Germany Prof. Günter Hofbauer, Technische Hochschule Ingolstadt Business School, Ingolstadt, Germany Prof. Rytis Krušinskas, Kaunas University of Technology, Lithuania Prof. Monika Marcinkowska, University of Lodz, Poland Prof. Juan-Antonio Mondéjar-Jiménez, Universidad de Castilla-La Mancha, Spain Prof. David Naranjo-Gil, Universidad Pablo de Olavide, Sevilla, Spain S t a t i s t i c a l E d i t o r : prof. dr hab. Piotr Fiszeder E n g l i s h P r o o f R e a d e r : mgr Dominik Liszkowski SUBJECT EDITORS F i n a n c e : prof. dr hab. Danuta Dziawgo B e h a v i o r a l F i n a n c e a n d F i n a n c i a l E n g i n e e r i n g : prof. dr hab. Józef Stawicki C o v e r D e s i g n : The primary version of the Journal is the on-line version (www.cjfa.umk.pl), however the Journal is available both in print and electronic form e-ISSN: 2300-3065 p-ISSN: 2300-1240 i dystrybuowane w wersji ADDRESS OF THE PUBLISHER kontakt@umk.pl, www.umk.pl Print: Drukarnia WN UMK EDITORIAL OFFICE cjfa@umk.pl, www.cjfa.umk.pl ICV 2021: 100.00 LIST OF REVIEWERS Prof. Francesca Bartolacci, University of Macerata, Italy Prof. Andrzej Buszko, University of Warmia and Mazury in Olsztyn, Poland Prof. José Raúl Canay-Pazos, Universidade de Santiago de Compostela, Spain Prof. Nicola Giuseppe Castellano, University of Macerata, Italy Prof. Andrzej Cwynar, University of Economics and Innovation, Poland Prof. Catherine Deffains-Crapsky, Université d’Angers, France Prof. Cristina Gânescu, Constantin Brâncoveanu din Pite ti, Romania Prof. Jerzy Gierusz, Gdansk University, Poland Prof. Dirk Kiesewetter, Julius-Maximilians-Universität Würzburg, Germany Prof. Natalia Konovalova, RISEBA University, Riga, Latvia Prof. Nicoletta Marinelli, University of Macerata, Italy Prof. Lyudmila Mihaylova, University of Ruse, Bulgaria Prof. Ewa Miklaszewska, Cracow University of Economics, Poland Prof. Emil Papazov, University of National and World Economy, Sofia, Bulgaria Prof. Ángel Peiró Signes, Universitat Politècnica de València, Spain Prof. Adalmiro Pereira, Politécnico do Porto, Portugal Prof. Wojciech Piotrowicz, University of Oxford, Great Britain Prof. Francisco Sánchez del Cubo, Universidad de Castilla-La Mancha, Spain Prof. Maria del Val Segarra-Oña, Universitat Politècnica de València, Spain Prof. Nirundon Tapachai, Kasetsart University, Thailand Prof. Gerard Olivar Tost, National University of Colombia, Colombia Prof. Yolanda Trujillo-Adria, Universitat Politècnica de València, Spain Prof. Jan Turyna, Warsaw University, Poland TABLE OF CONTENTS Gbenga Festus Babarinde, Bashir Ahmad Daneji, Mamoud Abdul Jalloh, Tajudeen Idera Abdulmajeed Financial Inclusion Implications on the Liquidity of the Nigerian Capital Market ......... Hafida Nur Chofifah, Ani Wilujeng Suryani Korean Music Awards and Abnormal Stock Returns ...................................................... 27 Ewa Chojnacka-Pelowska, Dorota Górecka Information Available from Mandatory Reports and the Possibility of Applying ............................. 45 Wulli Faustin Djoufouet, Thierry Messie Pondie Impacts of FinTech on Financial Inclusion: The Case of Sub-Saharan Africa .............. Danuta Dziawgo Responsibility ....................................................................................................................... Rajasekharan Ganesh, S. Thiyagarajan, Gopala Vasudevan, G. Naresh ........................................................... 107 Nisarg A. Joshi Impact of COVID Composite and Sectoral Indices .................................................................................... 125 Urszula Król A Theoretical Analysis of the New Polish Income Tax System ..................................... 147 Table of contents8 Salah Uddin Rajib Max Weber’s Rationality in Accounting Research ....................................................... 165 Geeta Singh, Kaushik Bhattacharjee, Srikanth Potharla A Literature Survey and Bibliometric Analysis of the Impact of Controlling Shareholders on Dividend Policy .................................................................................... 183 The Financial Effects of the Fiscal Sovereignty of Municipality Regarding Real Estate Tax ........................................................................................................................... 203 For Authors ......................................................................................................................... 217