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International journal of accounting and financial ... 9건

  1. [해외논문]   Ownership Structure and Dividend Policy of Listed Deposit Money Banks in Nigeria: A Tobit Regression Analysis  

    Ibrahim, Idris , Shuaibu, Hussaini
    International journal of accounting and financial reporting v.6 no.1 ,pp. 1 , 2016 ,

    초록

    Free cash flow hypothesis posit that regular paying of dividend can reduce agency conflict and through this, the range of future probable misuse of resources by management reduces. Ownership structure has been identified to have relationship with dividend policy of a firm. Though the relationship is different for different class of owners and at different level; it does not influence dividend policy uniformly. Although, the linkage between the two has been monitored by many researchers, yet empirical researches do not provide consensus as to the direction of the relationships. Thus, the paper investigates the likelihood impact of ownership structure on dividend policy in the context of agency relation while using managerial ownership, institutional ownership, ownership concentration and foreign ownershipon dividend policy in the listed Deposit Money Banks (DMBs)in Nigeria. The research designs are Correlational and ex-post facto using secondary data extracted from the sampled companies' annual financial reports for the period 2010-2014. Maximum likelihood (panel data tobit regression) is adopted as a technique of analysis for the study, using a sample of ten (10) out of seventeen (17) listed DMBs in Nigeria that served as population. The result shows that managerial ownership and ownership concentration are likely to have significant negative impact on dividend policy of listed DMBsin Nigeria, while institutional ownership is found to have likely significant positive impact on dividend policy of listed DMBs in Nigeria. But foreign ownership is found not to have likely significant impact on dividend policyof listed DMBsin Nigeria. Based on the findings, it is recommended among others that policy makers (Security and Exchange Commission and Corporate Affairs Commission) to design future policies where dividend payment could be facilitated and the diverse range of shareholders to be satisfied most especially minority shareholders. And that a limit should be set for managers on the proportion of shares to be held as this can facilitate dividend payment.

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  2. [해외논문]   The Impact of Sarbanes Oxley 404 Exemption on; Non-accelerated filers, Investor's Confidence And External Audit Fees  

    Jaara, Osama Omar , Oweis, Maen Reda
    International journal of accounting and financial reporting v.6 no.1 ,pp. 20 , 2016 ,

    초록

    This study adds on prior studies that have examined SOX 404 effect on external audit fees, internal controls and financial restatements. The paper examined the outcomes of Dodd–Frank Act that have exempted non-accelerated filers from SOX 404 (B). Where through this paper it has been assumed that this Act has decreased SOX 404 compliance costs on non-accelerated filers, and it also suggested that this Act did not have any negative effects on the effectiveness of the internal controls forthese companies. After performing a correlation analysis on this assumption the results turned out to be consistent with what was previously assumed. Where the correlation results indicated that external audit fees for non-accelerated filers had declined, and the internal controls deficiencies count showed a constant declining trend. The paper examined also the extent to which investor's confidence has been enhanced through the implementation of SOX 404. The assumption that was assumed in this paper was that; when a restatement is announced the amount of demand on that company's share will decline resulting in a decrease in the share price. The results of the correlation analysis that was performed on this assumption showed that after implementing SOX 404 the financial restatements announcements stopped to have the same negative effect on share prices, in relation to the before implementation period. The finding that led to the conclusion that SOX 404 has successfully enhanced investors' confidence.

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  3. [해외논문]   Assessing Corporate Governance Practices of Mauritian Companies  

    K., Padachi , R., Urdhin H. , M., Ramen
    International journal of accounting and financial reporting v.6 no.1 ,pp. 38 , 2016 ,

    초록

    The aim of this study is to assess the CG practices of companies listed on the Stock Exchange of Mauritius (SEM) and non-listed banks. The Mauritius Code of Corporate Governance (MCCG) is used as a basis to collect both primary and secondary data. Survey questionnaires have been used to detect and analyse the extent to which the different sectors comply to CG as well as the assessment of the CG practices. The factors affecting CG practices as well as the importance of good CG have been identified. The data collected have been analysed using SPSS. Accordingly, the results have showed that there is a sectorial difference in the level of compliance and it has also been noted that varying results have been obtained with respect to variables including board of directors, committees, disclosure, social responsibilities, stakeholders as well as the importance of CG. However, the three main factors that affect CG practices include the governance framework, reporting and conduct and rewards.

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  4. [해외논문]   The Impact of IFRS/IAS Adoption on Corporate Income Taxation in Ghana  

    Abedana, Virgil Nbellah , Omane-Antwi, Kwame B. , Owiredu, Alexander
    International journal of accounting and financial reporting v.6 no.1 ,pp. 72 , 2016 ,

    초록

    Studies in a multiplicity of reporting jurisdictions worldwide have revealed considerable divergence in the impact of IFRS/IAS adoption on taxation. There is minimal empirical study on the tax impacts or effects of reporting entities following the transition from GNAS to IFRS by Ghanaian listed companies. The study therefore investigates the changes to corporate taxes, deferred tax and net tax assets (liabilities) using a sample of entities from the Ghana Stock Exchange over the period 2007 / 2006 to 2008 / 2007 which encompasses the move from GNAS to IFRS, particularly IAS 12.The research design was predominately quantitative in nature and cross-sectional in approach. The population for the study was all companies' listed (42 companies) on the Ghana Stock Exchange (GSE) as at December 2015. The study used a sample of 22 listed entities after deducting invalid search results, companies that previously did not use GNAS as well as not using Ghana Cedis as their currencies, delisted entities since 2007 and free zone entities.The adoption of IFRS/IAS led to a few more listed companies paying less taxes and majority not having any changes in their tax burdens following the restatement of accounts from GNAS into IFRS/IAS. Overall, the paired sample t-test of GNAS and IFRS on reported tax amounts showed no differences between IFRS and GNAS computed amounts. Largely, 90.1% of firms observed did not report any changes to current tax assets. Whiles 94.5%, 86.4% and 59.1% of observations reported negative changes in deferred tax assets, current tax liabilities and deferred tax liabilities respectively. In terms of industry sectors, the manufacturing / trading industry saw a positive change of 13% in current year tax expenses burden whiles the financial / insurance / information technology industry reported a decrease of 13.3% in current year tax expenses liability.A further and in-depth longitudinal study could be done to study the trend of tax burdens as well as the pattern of effective tax rates of listed companies since the adoption of IFRS/IAS in Ghana since this one provide mixed impacts.

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  5. [해외논문]   The Impact of IFRS 8 on Segment Disclosure Practice: Panel Evidence from Italy  

    Lucchese, Manuela , Di Carlo, Ferdinando
    International journal of accounting and financial reporting v.6 no.1 ,pp. 96 , 2016 ,

    초록

    The study examines the effectiveness of IFRS 8, effective since 2009, in relation to both the magnitude of segment disclosures and the firms' characteristics that might affect the disaggregated disclosure policies decisions, on Italian listed companies during the period 2008-2012.The results show that on average, the new standard did not lead to relevant changes in the segment disclosures as previously stated under IAS 14R, thus demonstrating inconsistency with the expectations of the IASB. In addition, we demonstrated, by employing a fixed-effect regression, that the magnitude of segment disclosure is negatively associated with growth rate, size, profitability and ownership diffusion.The present study contributes to the extant literature in terms of the PIR review, discussing the effectiveness of IFRS 8 some years after adoption, and not merely considering the first year, where the results may be affected by the learning curve effect in countries less familiar with Anglo-Saxon accounting.

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  6. [해외논문]   The Impact of IFRS Adoption on Accounting Conservatism in the European Union  

    Zeghal, Daniel , Lahmar, Zouhour
    International journal of accounting and financial reporting v.6 no.1 ,pp. 127 , 2016 ,

    초록

    Purpose –The purpose of this study is to analyze mandatory IFRS adoption's impact on accounting conservatism. Design/methodology/approach – Our empirical study is conducted on a sample of 15 European countries, observed from the year 2000 to 2010. We analyze both conditional and unconditional conservatism, which we measured, respectively, by timely bad news recognition as compared to recognition of good news and discretionary accruals. Findings – The results of the empirical study confirm a significant reduction of accounting conservatism in the IFRS adoption period. This reduction is affected by the accounting model prevailing in a particular country. Moreover, the study shows a reduction of the gap between the two accounting models in the post-IFRS adoption period. Practical implications – The results obtained would be relevant for many decision makers such as investors, standard setters, IASB, European Union countries as well as those wishing to adopt International Standards. Originality/value – Our study complements and enriches the existent literature about the impact of the International Standards adoption. It dresses an important issue in a relatively long period to better assess the impact of IFRS.

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  7. [해외논문]   Dynamics of Accounting Theory and Practice: Accounting Issues of Loan Loss Provisioning and Measurements of Financial Instruments of Nigeria Qouted Banks  

    Odoemelam, Ndubuisi
    International journal of accounting and financial reporting v.6 no.1 ,pp. 161 , 2016 ,

    초록

    This research examines the changes in theory and practice of loan loss provisioning (LLPs) under IFRS and CBN prudential guideline and banks classification and measurement of financial instruments in the balance sheet by listed Deposit Money Banks (DMBs) in Nigeria. Data were drawn for a period of six years (2010-2015) post –IFRS. The data were analyzed using simple percentages, graph and tables to empirically investigate the difference between the IFRS and CBN provisioning models. Banks were grouped into two, the too-big-to- fail banks and smaller- banks. The findings, i observed that both groups adopt mixed attribute accounting (MAA) model in classifying and measuring financial securities and that the dynamic forward looking LLPs that will replace IAS 39 is a right decision by standard setters. Analysis of the data showed a clear stand of IASB and CBN, while the former emphasize on transparency the later is interested on stability of the financial industry. The study recommended that accounting principles and rules should be harmonized to reduce diversities of professional judgment and discretion in financial reporting. There should be synergy between the regulators and accounting standard setters (CBN and IASB). The stability of the financial system and providing faithful and relevant information to investors and other segments of the society should be a paramount objective of the two bodies and preparers of financial statements.

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  8. [해외논문]   Social and Environmental Accounting: A Reflection of Indonesian Firms' Involvement  

    Aprianto, Aprianto
    International journal of accounting and financial reporting v.6 no.1 ,pp. 190 , 2016 ,

    초록

    The economic crisis in Indonesia prolonged since 1997 has boosted the nation in the position of multi-dimensional crisis in almost all aspects of life. The increasing number of victims of layoffs, high unemployment, declining per capita income and purchasing power and ultimately it leads to the increase number of society that is below the poverty line. The Government efforts to convince the international investor should be focused on the social and political stability, and security that may assure investors. The economic crisis and social crisis in Indonesia are still into two sides that cannot be separated, and the effect on the business world is very significant, so that companies that want to run business operations in Indonesia cannot escape from social problems faced by this nation. Social problems for companies is not the main target, because many other factors such as investment, financing, production, marketing directly related to the normal activity of a company, but a consequence of the interaction between the company and the environment which is undergoing a social crisis becomes unavoidable. Social Accounting is still the pros and cons in the accounting world Indonesia, until now given the presence of pros and cons about the extent to which the company should be accountable to their social environment. The practice of social disclosure firms in Indonesia is still very low because the company allegedly oriented to the Shareholder and debt holders only. The role and application of social accounting need to be developed in Indonesia in order to encourage the creation of corporate social responsibility that are expected to minimize the social problems faced by business entities in Indonesia, so that the healthy investment climate and enduring economic stability.

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  9. [해외논문]   Internal Control and Revenue Fund Management among County Governments in Kenya  

    Oyaro, Cleophas Omariba , Angwenyi, Orina Ronald
    International journal of accounting and financial reporting v.6 no.1 ,pp. 200 , 2016 ,

    초록

    Informed by the auditor general's report of 2014 in which massive frauds and misuse of the revenue fund across counties in Kenya were reported, the study sought to establish the link between internal control and revenue fund management. The study adopted components of the Committee of Sponsoring Organizations of the Treadway Commission 2013 framework in its conceptualization. The study arrived at mixed results in terms of the relationship and nature of association between the components and revenue fund management. In addition, the study did not provide enough evidence to believe whether or not there existed significant differences in internal control among county governments in Kenya. This alluded to inconsistencies in implementation of internal control among the devolved units. Lastly, the study indicated that even if the framework has been successful used in implementation of internal control among listed companies in the United States, the same framework cannot be effectively used in implementation of internal control in the context of a devolved system of government such as is in Kenya.

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