Journal of Finance, Accounting and Management

Articles

Vol. 8, No. 2, July

Does Ownership Structure Moderate the Relationship between Corporate Financial Structure and Corporate Financial Performance? Concept Paper
1.IntroductionThe banking industry performance is critical to the growth and development of any economy, and Nigeria is not an exception. Hence, poor corporate financial performance in the industry is capable of creating a prolonged crisis that can adversely...
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Vol. 8, No. 1, 2017

Financial Risk Tolerance: An Analysis of Investor's Cognitive, Decision-Making Styles and Cultural Effects
1.IntroductionFinancial risk tolerance has been defined by Grable (2000) as the amount of financial ambiguity an individual is presented with, when making decisions. It is the willingness to accept uncertainty when making financial decisions. Several...
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Islamic Finance in the Age of Black Swans and Complexities, for a Multipolar World
1.IntroductionBy 2025, Brazil, India, Indonesia, Korea, Russia are expected to join China as new growth poles in the global economy, according to a recent World Bank Global Development Horizon report, (2011). The size, dynamism and dominance in forward...
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Risk Sharing Equity-Based Islamic Finance, Macroeconomic Resilience and Significance to Oman as a New Entrant
(ProQuest: ... denotes formulae omitted.)I. IntroductionIn the age of dwindling oil resources and price dips, there is a consensus among experts and the international organizations, such as the International Monetary Fund (IMF, 2015) and the World Bank...
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Corporate Governance as a Mechanism for Measuring Financial Performance of Banks in Nigeria
1.IntroductionCorporate governance is still a hot topic of great relevance to many researchers in various fields of knowledge (Demirag & Khadaroo, 2011). The recent corporate failure around the world has strengthened the importance of corporate governance...
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Vol. 7, No. 2, 2016

The Effects of Internal Audit on Performance of Ethiopian Financial Institutions
Background and JustificationThe internal audit department is very important inside a firm that the internal audit is regarded as the key element in the application of accounting systems (or it is a backbone of the business accounting). The efficiency...
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Does Islamic Finance Prevent Financial Crises: A Global Perspective
IntroductionFinancial crises occurred repeatedly since the termination of Gold Standard regime which contributes towards a great depression in 1929-1930 ( Davis, 1996). Normally, it has been seen that financial crises frequently occurred in the period...
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Accountability and Transparency: Procurement Issues in Selected Municipalities in South Africa
IntroductionGovernments are created by people to serve the people. In order to serve its citizens effectively, the government is obliged to interact with different people it is obliged to serve. People belong to different interest groups, and depending...
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Impact of Corporate Governance Practices on Firm Profitability: A Study of Selected Industries in India
IntroductionCreating strong corporate governance framework encourages flexibility, innovation and risk management. It helps to ensure that companies take care of the interest of wide range of stakeholders for whom it operates and makes the boards more...
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Value Relevance of Accounting Measures in Pre-And Post-Financial Crisis Periods: Turkey Case
(ProQuest: ... denotes formulae omitted.)1. IntroductionMacroeconomic instability seen in crisis periods may accelerate the financial collapse, which consequently has an impact on value relevance of accounting information. But there is limited number...
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Vol. 7, No. 1, January

A Detailed Analysis for the Identification of Risky Sectors
(ProQuest: ... denotes formulae omitted.)I. INTRODUCTIONNon Performing Assets (NPA) have been plaguing the Indian financial sector for a very long time. Growing NPA affects not only the performance of financial institution but also the economic development...
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Competitive Advantage through Market Driving: An Evaluation of Guaranty Trust Bank Experience in Nigeria
IntroductionThe competition in the banking industry in Nigeria was very mild or non-existent in the 1970s through 1980s. This was largely due to the limited number of banks and the arm chair banking practice that existed. Customers chose banks based...
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Effect of Corporate Social Responsibilities of Banks on Their Host Communities: A Case of Godfrey Okoye University, Enugu, Nigeria
IntroductionCorporate social responsibility (CSR) can simply be defined as the act of taking care of one immediate community. It could be through provision of electricity, pipe bore water Building of good Roads and ensuring security in the society or...
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Vol. 6, No. 2, July

Comparison between Forecasted Stock Prices and Original Stock Prices in the Karachi Stock Exchange
IntroductionThe economy of Pakistan is in its developing phase. The stock market is not as developed as in other developed economy but exhibit meaningful results to conclude the economic position of the county. Stock prices are predicted by different...
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Bank Ownership, Credit and Local Economic Growth
1. IntroductionIn this paper, the role of bank ownership in the relationship between financial development and economic growth is discussed using data from India, a large emerging market. The presence of state-owned, private and foreign banks across...
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Board Characteristics, Independent Audit Committee and Financial Reporting Quality of Oil Marketing Firms: Evidence from Nigeria
1.0 IntroductionFinancial reporting is the means of communicating information on the activities of the company to the users of accounting information; and the quality of financial reporting is a function of the quality of accounting standards and the...
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Vol. 6, No. 1, January

Relationship between the Incentives Offered on Credit Card and Its Usage
IntroductionThe use of credit cards originated in the United States during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing these credit cards to their customers. Early credit cards include sales directly between...
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Perceptions on Government Financial Reporting in Nigeria
IntroductionThe definition of accounting as the language of business communication is indeed useful in examining its evolution. Littleton (1966) reports that accounting is, at least, as old as business exchange because business exchange would be impossible...
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Financial Development and Economic Growth: Evidence from States in India
1. IntroductionThe link between financial development and economic growth has been a widely discussed and much debated topic in extant literature. In one of the earliest studies, Schumpeter (1912) posits that by deciding which firms will be using societies'...
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Corporate Social Responsibility in European Banks
IntroductionThis section describes that CSR relates to how operational activities affect the principles and values related to both internal methods and processes, and the interaction with other parties and stakeholders.The basic principle of the sustainable...
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Vol. 5, No. 2, July

Emerging Nations and Financial Reporting Complex: A Case for IFRS Adoption in Nigeria
IntroductionPrior to the platform for series of intellectual debates on the need for uniform accounting standards, what obtained all over the world were country specific versions of the Generally Accepted Accounting Principles (GAAP), which were based...
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Audit's Role in Good Governance of Joint Stock Companies in Albania
IntroductionIn the context of today's economic situation, which appears complex and with ongoing changes, the role of audit is increasing. Audit of large economic units which have a significance in the overall economies wealth and which are part of a...
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Business Intelligence for Public Sector Banks in India: A Case Study-Design, Development and Deployment
Brief History on Public Sector Banks in IndiaThe Indian Banking industry mainly comprises of the Public sector banks (PSBs) (in which Government holds majority stake and developed even prior to its political independence in 1947), Private Banking Sector...
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Financial Literacy and Financial Stability Are Two Aspects of Efficient Economy
IntroductionFinancial literacy indicates awareness about financial products. The importance of financial literacy has improved in recent years due to the development of economic and financial market. India is ranked number two in the list of highest...
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Quality of Official Statistics Data on the Economy
IntroductionOfficial Statistical Systems have the function to collect, process and provide aggregated data, and to offer indices, tables and charts, as well as reports on the state and development of the economy on local, regional, national and global...
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Vol. 5, No. 1, January

The Beneficiary Ownership and Joint Stock Companies
IntroductionLegal and political environment is affecting more and more decision making worldwide. It may have profound effect on the success of any organization. In various scientific works like Aaker (2008): External environmental factors include customer...
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How Agency Theory Informs a $30 Million Fraud
IntroductionStories of fraud fill the news more often than most of us would care to acknowledge. Our intention is to examine how one organization managed risk pre and post fraud. Sometimes wrongdoing strikes particularly close to home and we pay singular...
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Evaluating S&P 500 Sector ETFs Using Risk-Adjusted Performance Measures
(ProQuest: ... denotes formulae omitted.)IntroductionThis study examines the characteristics and performance of S&P 500 Sector Exchange Traded Funds (ETFs). An ETF is listed on a stock exchange and holds a portfolio of equities or bonds. One of the...
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Does the Sequence of Convertible Bonds Matter?
Devrim YamanRobert J. Bobb Professor of FinanceDepartment of Finance & Commercial LawHaworth College of BusinessWestern Michigan UniversityKalamazoo, MI 49008-5420(269) 387-5217devrim.yaman@wmich.eduIntroductionSeveral prior studies have examined...
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Effects of Spirituality on Board Service Performance in Malaysian Microfinance Firms
IntroductionWorld Bank, other agencies and individuals have been consistent in reporting extreme poverty especially in emerging nations where access to formal productive capital is lacking. In one of such efforts, World Bank (2007) reports an estimated...
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The Impact of Demographic Factors on Tax Compliance Attitude and Behavior in Malaysia
IntroductionTaxation is one of the important elements in managing national income, especially in developed countries and has played an important role in civilized societies since their birth thousands years ago. Tax is defined as 'a compulsory levy,...
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An Examination of Health Care Financing Models:: Lessons for South Africa
IntroductionThe democratic South African government inherited a highly fragmented health system in 1994, with wide disparities in health spending and inequitable distribution of health care professionals (Pillay, 2001, p. 72). There were inequities with...
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Are Independent Directors and Supervisory Directors Effective in Constraining Earnings Management?
(ProQuest: ... denotes formulae omitted.)IntroductionExtant academic literatures on earnings management indicate that it has attracted considerable attention of scholars. With the eruption of Internet bubble in 2000, the ugly truth started to expose...
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Vol. 4, No. 2, July

Impact of the Model of Taxation on Transfering Properties in Immovable Property Market in Albania
(ProQuest: ... denotes formula omitted.)IntroductionThis study publicates for the first time primary data on the market value of immovable properties sales in Albania, which can be used to further analyzes in the immovable property market. It brings...
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Understanding Behavioral Finance through Biases and Traits of Trader Vis-À-Vis Investor
IntroductionInvestor's rationality determined by several demographic, economic, and cognitive factors. One of the examples could be Market Sentiments. Market sentiment is a major force driving the momentum in stock prices in securities markets. Similar...
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Foreign Direct Investment and Human Capital: A Dynamic Paradox for Developing Countries
IntroductionFDI attraction has been an important part of the growth strategy of developing countries. As such, the impact of foreign direct investment (FDI) on the growth of the economy has been the subject of much research; since many assume that greater...
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Determinants of Tax Revenue: Does Sectorial Composition Matter?
IntroductionThe major aim of most governments in developing countries is to stimulate and guide their economic and social development. One of the most important policy upon which most agreed is that emerging economies must increasingly mobilize their...
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How Employees on Top Affect Board Performance in Nigerian Firms: A SEM-Approach
IntroductionAdvocates of the Anglo-American governance arrangement identify the need to provide the shareholders with adequate protection. On the other hand, advocates of stakeholder theory argue that, a wider objective function of the firm is more equitable...
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Financial Feasibility Study of Bananas Tissue Culture Commercial Production in Egypt
IntroductionBanana is an important fruit crop in Africa and in Egypt, due its great economic importance as well as nutritional value and high availability throughout the year. Recently the use of tissue culture in propagating banana increased remarkably,...
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Vol. 4, No. 1, January

The Efficiency of Banks and the Financial Crisis in a Developing Economy: The Case of Jordan
IntroductionBank efficiency analysis is vital for government, regulators, banks management, stock market, and investors. Government regulations could affect banks' efficiency in transferring their inputs into outputs (Berger, Hunter and Timme, 1993)....
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Global Financial Crisis: Corporate Governance Failures and Lessons
IntroductionThe recent financial crisis is often termed as the most serious financial crisis after the Great Depression of 1930's (Blundell-Wignall et al., 2008; Cheffins, 2009; Kirkpatrick, 2009; Clarke, 2010; Lang and Jagtiani, 2010). Several researchers...
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Vol. 3, No. 2, July

Impact of Earnings per Share on Market Value of an Equity Share: An Empirical Study in Indian Capital Market
IntroductionEquity valuation is a central question which the academicians and researchers in the field of capital markets are trying to address through different angles. At the same time, the practitioners in the field of stock trading have been working...
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Exchange Rate Impact on Bilateral Trade between India and China
IntroductionChina has emerged as the largest exporting country and its trade surplus has been sharply increasing since the mid-2000s. China's rapid progress is evident from the fact that in 1990, China was the 14th largest exporter with export at US...
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Can Book-to-Market, Size and Momentum Be Extra Risk Factors That Explain the Stocks Rate of Return?: Evidence from Emerging Market
IntroductionA vast amount of researcher has been conducted to test the validity of the CAPM that was developed by Sharpe (1964), linter (1965) and Mossin (1966), in explaining the variation in rate of return. However, no conclusive evidence has been...
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Proposing Conceptual Framework for Reducing Earning Management Using Ownership Structure Mechanism: Jordanian Companies Perspective
IntroductionWhile FRQ is not observable directly, famous observers stated that they know it as they see it; they also energetically emphasize the importance of FRQ as the same as a modern capital market foundation. Former chairman of the United States...
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An Analytical Perspective of Global Melt Down Vis-A-Vis Perceptible Escalation in Gold Price with Special Reference to India
IntroductionEver since global financial crisis erupted, there seems to be a perceptible escalation in gold price. Although a number of reasons conjectured, the augmentations of the official reserves of gold across many countries have been widely perceived...
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Turkish Banking Sector after 2001 Economic Crisis
IntroductionBanking sector is one of the basic elements of financial system which help to maintain to the operation of the economic system. Strength and solidness of sector is one of the main indicators of brightness and healtiness of economic structure...
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The Development of E-Banking in Developing Countries in the Middle East
IntroductionThe technological revolution in the use of the Internet has directly impacted on world banking activities and financial regulations; the spread of computer access, along with innovation in banking services and methods, has enhanced speed...
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Vol. 3, No. 1, January

New Approach to Capitalism: Understanding Creative Capitalism and Its Relevance in India
IntroductionCapitalism has emerged as one of the system that has proved to be profitable and sustainable in the long run. Capitalism means the resources invested in a business with the aim of creating wealth. In the earlier times capitalism was more...
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An Examination of the Underlying Rationale of the Profit and Loss Sharing System, with Special Emphasis on the Mudarabah and Musharakah within the Context of Islamic Law and Banking
IntroductionToday it is a co mmon practice for many businesses to start off business ventures with an advancement of a loan which o f course has an interest premium attached to it. However in the case of Muslims any participation in interest in the acquisition...
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Behavioural Finance A Boon to Investors
IntroductionWithering of 'Efficient Market Hypothesis':During 1970's, a premise 'Efficient Market' was convincingly established by Eugene Fama. In a dynamic economy there will always be new information which causes intrinsic values to change over time....
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The Contribution Made by Chennai Petroleum Corporation Limited for the Economic Development of India
IntroductionIn the modern money, oriented economy finance is one of the foundations of all kinds of activities. Therefore, finance is regards as the lifeblood of a business enterprise. The improper utilization of this finance may adversely affect the...
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A Study on Liquidity Performance of Top Performing Manufacturing Industries
IntroductionThe term liquidity is used in various ways, all-relating to availability of, access to, or convertibility into cash. The degree to which an asset or security can be bought or sold in the market without affecting the asset's price. A high...
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Vol. 2, No. 2, July

Accounting for False Objectivity
INTRODUCTIONAs one encounters quantum mechanics and real life, one soon realizes that there are shades of grey and moral dilemmas and objects are not always as they may seem. The failures of major corporations left many questioning whether the collapse...
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E-Finance in the Mobile World
IntroductionWhat is e-finance? The provision of financial services and markets using electronic communication and computation. The developments can be divided into two broad areas. The first is the impact on banking and financial services. They argue...
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Strategic Management Accounting Practice in Malaysia: Case of Manufacturing Sector
IntroductionMalaysian manufacturing sector is currently contributing about 32% of the Gross Domestic Product (GDP) to the Malaysian economy. The growth in the manufacturing sector in 2007 was 7%. However, a decline of 0.4% is expected in 2008 and further...
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Efficiency of Currency Management and Policy Implications in the Indian Banking Scenario
IntroductionHistory and evolution of production of notes in India: Currency/bank notes are among the most mass-produced co mmod ities in the world. The genesis of paper money generally attributed to the token money that evolved aro und the 10th century...
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Performance Evaluation of Schemes of Indian and International Mutual Funds: An Empirical Study of Selected Equity Large Cap Funds
IntroductionIn the modern financial market s of the world today, mutual funds have become the most useful and successful institutions. Mutual funds are collective investment vehicles that pool money from individual and sometimes uninformed investors,...
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Vol. 2, No. 1, January

The Aftermath of Recession: The Road to Recovery
IntroductionRecession is not new to global economics. Between 1960 and 2007, USA, the largest economy in the world, has witnessed about six recessions- one every eight years. Some were mild and the recovery was quick. Some were severe; hence, the recovery...
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Value Relevance of Accounting Information - an Indian Perspective
(ProQuest: ... denotes formulae omitted.)IntroductionAccording to the International Accounting Standard Board (1989), the objective of financial statements is to provide information about the financial position and performance of an enterprise that is...
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