This study aims to examine the effect of financial reporting quality and family ownership on investment efficiency, moderated by audit quality. Size, leverage, firm age, and tangibility serve as control variables. Population used in this study is manufacture firms listed on Indonesia Stock Exchange (IDX) in the period of 2015-2019 and sample is selected with purposive sampling method, resulting in 217 firms. Statistical analysis in this study is using multiple regression model. The results show that family ownership has significant effect on investment efficiency, while audit quality significantly moderated the relationship of family ownership on investment efficiency. Financial reporting quality do not have significant effect on investment efficiency and audit quality do not moderate significantly on the relationship of financial reporting quality on investment efficiency. This study is draw on both agency and behavioral agency theories. It contributes to the literature in the following ways. Firstly, the authors examine the effect of financial reporting quality on investment efficiency. Secondly, the authors examine the effect of family ownership on investment efficiency. Third of all, the authors examine the moderating effect of audit quality on the relationship between financial reporting quality and family ownership on investment efficiency.
The transformation of the world financial market under the influence of global imbalances necessitates strengthening measures to strengthen the economic growth of countries. The article substantiates that the main component of financial development is the system of taxes and fees with the help of which the strategic functions of any state are provided. Scientific approaches and theoretical aspects to the formation of the taxation system are structured. Scientific and methodological aspects of the formation of the taxation system in modern conditions have been developed, which, in contrast to the existing ones, are based on the basic principles, types and forms of taxes and fees, taking into account the peculiarities of the national economy and the specifics of its functioning. The periodization of the main stages of the convergence of tax systems in the world has been developed, which is substantiated and based on the historical approach of the development of taxes as an economic category and religious views. On the basis of the proposed periodization of the main stages of convergence of tax systems in the world, the diversity of the functioning of the taxation systems of the countries of the world is highlighted, which necessitated their clustering into homogeneous groups according to the levels of tax burden. To classify the countries of the world by the level of tax burden, a multidimensional cluster analysis of the level of tax burden was carried out, which made it possible to determine that the most attractive for investors are taxes in Arab countries, which form an acceptable climate for ensuring economic growth. To assess the impact of the tax burden on the economic growth of the United Arab Emirates, a correlation-regression analysis was carried out. The obtained results of the study, in contrast to the existing ones, made it possible to determine the significant role of taxes in the formation of strategic indicators of economic development and the volume of GDP. The practical significance of the research results lies in the fact that the developed scientific and methodological approaches to the formation of the taxation system in modern conditions can be applied in practice in the formation of the financial strategy of the state, and the developed aspects of multidimensional cluster analysis will determine the key factors of the tax burden in each country. Interpretation of the correlation-regression analysis of the impact of the tax burden on economic growth will make it possible to determine the main measures to resolve the dependence of taxes and the volume of the country's GDP.
This research paper aims to examine the determinants of stock returns in Egypt as an emerging stock market after controlling some macroeconomic variables. The testable models in this study are Fama and French Three-Factor model and Fama and French Five-Factor model. While the defined macroeconomic variables are inflation rate and foreign currency exchange rate. We utilized the cross-sectional regression of Fama-MacBeth (1973) procedure over the sample period by applying time-varying betas. This research consists a sample of (136) firms listed in Egyptian stock market. The sample period from July 2005 till September 2019. The cross-sectional regression applied on the excess return of individual stocks as main test asset to capture time variation in betas using the rolling regression approach. The descriptive statistics show the existence of market and size effect, while the results of regression show the failure of the Fama and French Three-Factor and Five-Factor Models in Egyptian stock market to capture cross-sectional variation of real stock returns expressed in US dollar. The tested models are not statistically priced and producing high significant pricing errors. Finally, the stakeholder of Egyptian stock market can reward for market, value and profitability risk factors only.
In this era of sustainability, the hospitality industry, in particular the hotel business, need to take the sustainable innovations seriously. Hotel business is one of the main contributors to food waste. The Food and Beverages service is involved in food waste management where it accounts for the preparation, processing and serving food and beverage. There was no previous study that examined the food waste management from green accounting point of view. Therefore, the study aimed to investigate and provide reliable insights and a clear picture of how the hospitality industry in East Kalimantan acts regarding policies made in terms of reducing food waste. This study is a qualitative research using interpretive paradigms and phenomenology approach. Phenomenology approach was chosen in order to deliver an in-depth review of how green accounting implement at hospitality industry based on the managers experiences. The findings of this study can be classified into five main topics, namely the responses, causes, impacts, challenges, and policies or methods chosen by the managers in dealing with leftover from social and environmental perspectives. Some suggestions to improve overall process of food waste management at the hotel were developed on the provided answers from the interviewees as well as the theories such as the implementation of a food waste measuring system, make a regular food plan review, raising awareness among employees and customers, and staff training for smart food waste. This study may contribute as a concept for other industry about how the green accounting implementation could generate benefit for them.
The rapid emergence of the Information and Communication Technology (ICT) sector has placed India on the global stage during the last one and a half decades. The sector has acted as a catalyst for growth across the Indian economy, including areas such as real estate, automobiles, travel and tourism, railway and mortgage banking industries. Employing over 2.5 million people directly, and over eight million indirectly through the sector, the ICT industry is rapidly expanding across all domains, primarily driven by software services. With more attractive and investor-friendly Foreign Direct Investment (FDI) policies, India has become one of the favourite destinations for ICT investment portfolios. The introduction of liberalized foreign direct investment policies by the Indian government allows 100 per cent investment in the Indian ICT sector. The Government has initiated numerous measures to facilitate licensing, thereby making investment procedures easier.
The study examines the extent to which strategic decision and succession planning could extend the influence of corporate governance to performance within the context of family-owned businesses. The study relied on survey method for the data gathering and covariance based structural equation modelling for statistical analysis. The study finds that strategic decision and succession planning play a critical role in the relationship between corporate governance and the financial performance of family-owned businesses. The research design of this study relied on the stewardship theory to further our understanding of the relationship among corporate governance, strategic decision, succession planning and financial performance of family-owned businesses. This relationship includes how strategic decision and succession planning play critical role in the unfaltering relationship between corporate governance and the performance of family-owned firms. The study highlights the need for corporate executives to appreciate the essential role of strategic decision-making and succession planning in ensuring the sustainability and viability of family-owned businesses.
The aim of the research was to investigate the impact of Integrated Reporting Disclosure (IRD) on Intellectual Capital Disclosure (ICD) if there was Investor Pressure (IP) on the relation of both. Samples were taken with criteria constraints, and obtained 75 companies that did IPO on the IDX from 2016-2018. Measurement of content quantity analysis was used as the chosen methods to explore many information disclosures. A multiple linear regression was used as data processing method. For better model, Size variable and Industry Type variable were used as control variable. From the results of statistical tests, it was concluded that when management decided to increase the quantity of IRD, it turned out that the ICD had decreased in disclosure. However, the decline in the ICD was not due to pressure from investors. The results provided an understanding that under certain circumstances IRD would have greater negative influence on the ICD, because a lot of information in the ICD were company's strategic policies that were prone to being copied by other companies and competitors. This study discussed the effect of IRD on the ICD. Took into consideration, the possibility of IP influenced the relationship between the both main variables.
This study aims to evaluate how financial expenditure and expenditure structure affect training outcomes at public universities in Vietnam. The data used for this study is collected from statistics from the Ministry of Education and Training, the Ministry of Finance, and the State Treasury between 2013 and 2017. To analyze the data, the research employs the quantile regression analysis method. In this research, the training outcomes at public universities are evaluated using indicators such as graduates' income, the percentage of graduates who have jobs, and the level of satisfaction with labor use by enterprises. The study reveals that the financial expenditure and expenditure structure at public universities in Vietnam have an impact on training outcomes at various quantiles. Based on the findings, the study recommends policies to improve the financial expenditure effect and student training outcomes at Vietnam's public universities.
This study aims to analyze and provide empirical evidence that the independent variables of investment decisions, capital structure and profitability, either partially or simultaneously affect firm value. Investment Decision Variable (X1) proxied (MBVA), Capital structure (X2) proxied by Debt Equity Ratio (DER), Profitability Variable (X3) proxied by Return On Equity (ROE) and Firm Value (Y) proxied by Price To Book Value (PBV). This type of research uses explanatory research with a quantitative approach, the population in this study is all food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the period 2014-2018. With a purposive sampling technique with a sample size of 10 companies. The data obtained were analyzed by testing the validity of the data, multiple linear regression analysis. The results of this study indicate that investment decisions have a positive and significant effect on firm value, capital structure has a positive and significant effect on firm value and profitability has a positive and significant effect on firm value, and together the variables have a positive and significant effect on firm value. This finding is interesting, that the success of increasing the value of the company depends on the company's ability to maximize its resources, and in implementing established company policies.
I examine whether CFO management affects stock price crash risk. CFO management, which is known as a tool used to inflate reported CFO, can cause stock price crash risk by promoting the accumulation of bad news. I find that CFO management has no effect on stock price crash risk. But there are some firm characteristics that associated with incentive to inflate reported CFO. I find that the effect of CFO management on stock price crash risk is greater for under the specific firm characteristics. The results highlight the bad side of CFO management by providing evidence that under specific firm characteristics, CFO management can cause stock price crash risk.
This study aims to determine the impact of board independence, board size, diversity gender and board meetings on dividend policy of food and beverage firms in Indonesia, Malaysia and Singapore. The sample was selected from 36 public companies listed on the Indonesia Stock Exchange, the Kuala Lumpur Stock Exchange and the Singapore Stock Exchange. The observation period ranges from 2013 to 2018. Dividend policy is measured using 3 measures, namely 1) total dividend divided by total net income; 2) total dividends per share divided by share price per share; 3) total assets divided by total dividends. Meanwhile, corporate governance uses four indicators: the proportion of board independence, the size of the board of commissioners, the proportion of female commissioners and board meetings. This study uses panel data regression analysis, including the fixed effect model with clustered standard errors. Empirical evidence shows that in general corporate governance mechanism does not have a significant effect on dividend policy, except board meetings significantly affect dividend yield and aggregate dividend.
Accounting as social construction and social practice will be more interesting when explored with qualitative approaches. However, accounting became more complex and had different meaning in every context and more important to know how social actors use and react to accounting. The paper offers types of research questions appropriate to qualitative research methods, and opportunities to investigate new accounting phenomena. Using pathway approach for qualitative research, especially using phenomenology for accounting issues, made researchers have another alternative to choose research methods in phenomenology to do their qualitative research. The results showed using this approach for qualitative research of phenomenology can direct researchers to finding answers when using qualitative research as their first steps. Second, this pathway approach can be traced to find notions in accounting areas as social construction. Qualitative research-pathway in phenomenology can be used as one of many tools for qualitative research when everybody starts for qualitative research. This pathway still can be discussed based on other context research even still using same phenomenology methods. This model can enrich methodology in phenomenology for accounting researchers.
The purpose of this study was to examine the effect of bonus plans, debt covenants, firm size and tunneling incentives on tax avoidance with transfer pricing as an intervening variable. The research sample used was mining companies listed on the Indonesia Stock Exchange (IDX) for the 2014-2018 period as many as 50 companies were obtained by purposive sampling. The analytical method used in this research is multiple linear regression analysis with IBM SPSS Statistics 21 software and path analysis and multiple tests to test transfer pricing in mediating the relationship between bonus plans, debt covenants, firm size and tunneling incentives to tax avoidance. The results showed that the bonus plan and debt covenant had a negative and significant effect on tax avoidance. Firm size and tunneling incentives do not have a significant effect on tax avoidance. Whereas transfer pricing cannot mediate the relationship between bonus plans, debt covenants, firm size and tunneling incentives to tax avoidance.
The purpose of this study is to provide additional literature based on factors affecting company performance. Examining the role of company size, liquidit, and asset structure in improving the company’s financial performance, which is mediated by the company’s capital structure. The quantitative research was conducted at food and beverage companies listed on the Indonesia Stock Exchange (IDX). The sample contains financial data from 15 companies in the food and beverage for the 2014-2019 period. Data were analyzed using Statistical Product and Services Solutions (SPSS) Version 21 software. The result showed that the food and beverage companies listed on the Indonesia Stock Exchange (IDX) had a higher rate, liquidity rati, and asset structure that support the firm level. Meanwhile, company size, liquidity, and asset structure that are mediated by funding are proven to be able to improve the company’s financial performance. This study explores and extends the findings of previous studies that test firms size. Liquidit, and asset structure affect the capital structure and further improve the performance of financial firms. The findings of this study allow financial managers to be careful in the degree of oversight of the company. The bigger the company of course has the opportunity to get bigger debt. Good corporate funding can improve company performance. The capital structure of a company that is well managed taking into account the size of the company, liquidity and asset structure makes the company healthy and has the superior financial performance.
Cash reserve requirement is an important policy instrument in many developing countries. This study examined the effect of cash reserve requirement on banks’ profitability in Nigeria for a period of 10 years, spanning from 2010-2019. The study covered all the listed Deposit Money Banks (DMBs) in Nigeria among which, 8 listed banks designated as Systematically Important Banks (SIBs) by Central Bank of Nigeria (CBN) were purposively selected. Secondary data obtained from the audited annual financial statement, CBN Annual reports and account of DMBs of the selected listed SIBs were used. Panel regression of fixed and random effect estimation was employed and this was carried out after descriptive statistics and Pearson correlation have been done. It was discovered that cash reserve ratio exerts a negative and significant effect on return on assets of Deposit Money Banks (DMBs) in Nigeria to the tune of -0.0025(p=0.036<0.05) and that cash reserve ratio has a negative and significant effect on return on equity to the tune of -0.0039(p0.026<0.05). The study established that the effect of cash reserve requirement on banks’ profitability is statistically significant. Thus, it was recommended that in setting the minimum cash reserve requirement of banks, the objective of the policy makers should not solely center on how to eradicate the possibility of bank failure, they should also focus on how to improve banks’ profitability.
Although there has been a lot of research exploring the R&D and firm performance nexus in the last two decades, there is a dearth of studies that can illustrate the threshold influence of R&D on bank performance. This study examines the threshold effect of R&D expenditures on bank performance using panel data of listed banks in Bangladesh spanning from 2011 to 2019. The dynamic panel threshold model has been adopted in this study to assess whether the performance of banks is subject to threshold effects of R&D expenditures. The findings of this paper demonstrate that the relationship between R&D and bank performance is non-linear and a threshold level exists in the relationship between R&D outlays and bank performance. Managers can identify the optimal R&D expenditures based on their respective threshold value to improve banks’ performance and avoid overinvestment on it. To the best of our knowledge, this is the first empirical research that uses bank data to evaluate the threshold effect of R&D spending on bank performance using the dynamic panel threshold model.
This study examined the effect of emotional intelligence, leadership style, organizational culture, and job satisfaction on employee turnover intention of PT. Bank Jabar and Banten (BJB) Tbk. This study also tested the direct relationship and indirect relationship by using a sample of 179 employees with assistant positions at PT. Bank Jabar and Banten (BJB) Tbk are spread across Regional Offices. This study used quantitative methods with data analysis techniques, including validity and reliability tests, correlation and coefficient tests, path analysis tests, indirect influence tests using Sobel test analysis. The results showed a direct negative influence between Emotional Intelligence, Leadership Style, Organizational Culture, and Job Satisfaction on Turnover Intentions. There was a direct positive influence between Emotional Intelligence, Leadership Style, Organizational Culture on Job Satisfaction. From the results of the Sobel test, there was an indirect negative influence between Emotional Intelligence, Organizational Culture, and Leadership Style on Turnover Intention through Job Satisfaction. The direct influence of emotional intelligence, leadership style, organizational culture, and job satisfaction on the turnover intention of BJB.Tbk bank employees directed company management to reduce the tendency to move through the formulation of policies related to Emotional Intelligence, Leadership Style, Organizational Culture, and Job Satisfaction. The direct influence of emotional intelligence, leadership style, organizational culture, and job satisfaction on the turnover intention of BJB.Tbk bank employees directed company management to reduce the tendency to move through the formulation of policies related to Emotional Intelligence, Leadership Style, Organizational Culture, and Job Satisfaction.
The general public and specific stakeholders have expressed apprehension as regards the degraded quality of the external audit report. The concept of audit quality and its determinants has been a debatable issue over the decades. The current study examined the determinants of audit quality in the context of the Nigerian listed consumer goods companies. Using the ex-post facto research, a sample of six (6) companies were randomly selected from a population of twenty existing companies as at 31st December 2020. Necessary data for the study was spooled from the audited annual financial statement of the considered companies for an eight-year period from 2012 when IFRSs became operational in Nigeria to the 2019 financial year. Correlation and regression analysis were carried out using SPSS version 22. The outcome of the study revealed a statistically non-significant but positive relationship with the board size as a proxy for corporate governance, audit firm size and company size on one hand, and audit quality on the other hand. However, a negative and statistically insignificant relationship is established between the tenure of the audit firm and audit quality in the Nigerian consumer goods sector. The following recommendations are proposed: (i) Policy measures should be put in place to regulate the activities of auditors so as to checkmate unreasonably long-term auditor-client relationship which may jeopardize objectivity and independence. (ii) Small audit firms should be encouraged to form partnerships so as to boost their capacity so as to enhance their audit engagement quality to big client companies.
High-quality audits lower information asymmetry between managers and investors by improving the quality of financial reporting. Hence, we expect audit quality to be positively associated with investors' accurate understanding of companies’ financial information, which can reduce stock price delays. Within the emerging markets, we focus on 3,298 firm-year observations of South Korean listed companies. The results reveal that organizations audited by Big 4 accounting firms show fewer stock price delays. Additionally, after dividing the sample into conglomerate and non-conglomerate groups, the latter group shows fewer stock price delays compared to the former when audited by Big 4 firms.
This research aims to examine the factors that influence the behavior of whistleblowing for public sector employees using six independent variables, namely intentions, attitudes, subjective norms, perceptions of behavioral control, professional commitment, and organizational commitment. The population in this study were all public sector employees who worked in the Finance Section of Semarang Regency totaling 138 people. The sample used in this study amounted to 59 respondents who were selected using the technique Conviniance sampling. Data were analyzed using multiple linear regression analysis with analytical tools namely IBM SPSS 22. The results showed that subjective norms, perceived behavioral control and professional commitment positively affected whistleblowing intentions and perceived behavioral control positively affected whistleblowing behavior in the financial section, while attitudes negatively affected whistleblowing intentions and whistleblowing intentions did not positively influence the whistleblowing behavior.
