Saudi Journal of Economics and Finance最新文献_第3页

A Market Timing Strategy for the GCC Conventional and Shariah Stock Indices 海湾合作委员会传统和伊斯兰教股票指数的市场时机策略

Saudi Journal of Economics and Finance Pub Date : 2023-04-26 DOI: 10.36348/sjef.2023.v07i04.005

S. Prandi, Daniele Colecchia

{"title":"A Market Timing Strategy for the GCC Conventional and Shariah Stock Indices","authors":"S. Prandi, Daniele Colecchia","doi":"10.36348/sjef.2023.v07i04.005","DOIUrl":"https://doi.org/10.36348/sjef.2023.v07i04.005","url":null,"abstract":"This paper defines and assesses a market timing strategy for the Gulf Cooperation Council (GCC) stock indices, namely the Tadawul All Share Index, FTSE Abu Dhabi General Index, Qatar All Share Index and Qatar Al Rayan Islamic Index. The strategy intends to deliver a consistent reduction in volatility and better risk-adjusted performance. The present empirical study capitalises on the work by Colepand and Copeland (1999) on the US market, re-proposed recently by Bantwa (2020) on the Indian market, which resorts to implied volatility as the trigger to adjust the asset allocation. The strategy hereby proposed is modified considering the higher volatility of the GCC financial markets as well as its preeminent goal – risk-adjusted performance optimisation. Moreover, the implied volatility is unavailable for the GCC stock indices under assessment; therefore, it has been replaced with the forecasted volatility obtained through asymmetric GARCH models (GJR-GARCH), one for each stock index. The active strategy in question is backtested on both the conventional and Islamic stock indices to check whether it overperforms the passive strategy equally well on both types of indices. The empirical findings encourage the adoption of volatility-based market timing models in additional emerging markets and Islamic indices.","PeriodicalId":153790,"journal":{"name":"Saudi Journal of Economics and Finance","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133480112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Empirically Investigating the Perception of Value-Added Tax in Saudi Arabia 沙特阿拉伯增值税认知的实证调查

Saudi Journal of Economics and Finance Pub Date : 2023-04-13 DOI: 10.36348/sjef.2023.v07i04.004

Kamilah Almousa, Khalid Rasheed Al Adeem

引用次数: 0

The Effect of Institutional Ownership, Leverage, and Liquidity on Tax Avoidance with Company Size as a Moderating Variable 以公司规模为调节变量的机构所有权、杠杆和流动性对避税的影响

Saudi Journal of Economics and Finance Pub Date : 2023-04-12 DOI: 10.36348/sjef.2023.v07i04.003

R. Safitri, Lin Oktris

引用次数: 1

Does Independent Commissioners Play a Moderating Role in Relationship Financial Ratios and Financial Distress with Tax Avoidance? 独立专员在财务比率和财务困境与避税的关系中是否起调节作用?

Saudi Journal of Economics and Finance Pub Date : 2023-04-09 DOI: 10.36348/sjef.2023.v07i04.002

{"title":"Does Independent Commissioners Play a Moderating Role in Relationship Financial Ratios and Financial Distress with Tax Avoidance?","authors":"","doi":"10.36348/sjef.2023.v07i04.002","DOIUrl":"https://doi.org/10.36348/sjef.2023.v07i04.002","url":null,"abstract":"Indonesia implements a self-assessment system so that taxpayers are trusted to calculate, pay, and report their own taxes in accordance with applicable tax provisions. Companies as taxpayers do tax avoidance by taking the advantage of loopholes in tax regulations without violating applicable regulations in order to pay taxes in the minimum amount. Therefore, this research is conducted to test the effect of profitability, leverage, and financial distress on tax avoidance with independent commissioners as a moderating variable. The population used in this research is all manufacturing companies which are listed in Indonesia Stock Exchange period 2019-2021. The 243 samples are taken by purposive sampling after outliers. The data used are secondary where annual reports and financial statements are obtained from the company’s official websites. This research uses SPSS and the analytical techniques are multiple linear regression and moderated regression analysis. The results of this research prove that profitability has a negative significant effect on tax avoidance, leverage has a positive significant effect on tax avoidance, financial distress does not have a significant effect on tax avoidance, and independent commissioners is unable to moderate the effects of profitability, leverage, and financial distress on tax avoidance.","PeriodicalId":153790,"journal":{"name":"Saudi Journal of Economics and Finance","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127322979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Focus Group Discussion on Finance Literacy of Village- Owned Enterprises 乡镇企业财务素养的焦点小组讨论

Saudi Journal of Economics and Finance Pub Date : 2023-04-09 DOI: 10.36348/sjef.2023.v07i04.001

Agus Eko Sujianto, Sukarji Sukarji, Z. Zuhri

{"title":"Focus Group Discussion on Finance Literacy of Village- Owned Enterprises","authors":"Agus Eko Sujianto, Sukarji Sukarji, Z. Zuhri","doi":"10.36348/sjef.2023.v07i04.001","DOIUrl":"https://doi.org/10.36348/sjef.2023.v07i04.001","url":null,"abstract":"As a form of Higher Education's Tridharma, community service through Focus Group Discussion (FGD) is needed to explore responses from students, namely Real Work Lecture participants to the economic phenomenon that is currently being rolled out by the government, namely Village-Owned Enterprises (BUM Desa). The purpose of this activity is to formulate a BUM Desa financial literacy model according to the perspective of students (participants of the Real Work Lecture) which at the same time implements the realm of knowledge received in college with real conditions in the field, namely the village. Considerations for choosing FGDs are: planned discussions, directed by trained moderators to explore participants' understanding and opinions regarding the topics discussed, namely financial literacy. The results of the FGD explained that the model applied in BUM Desa financial literacy is by integrating aspects of knowledge, skills and attitudes. Knowledge of finance is the basis for managers in managing achievements. Management skills or skills must also be owned by managers. Meanwhile, honesty is an important aspect and is inherent in financial managers.","PeriodicalId":153790,"journal":{"name":"Saudi Journal of Economics and Finance","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121439574","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Volatility Spillovers among Crude Oil, EUR/USD and Major ETS Markets during 2013-2017: A Trivariate cDCC-GARCH Application 2013-2017年原油、欧元/美元和主要ETS市场波动溢出效应:一个三元cDCC-GARCH应用

Saudi Journal of Economics and Finance Pub Date : 2023-03-30 DOI: 10.36348/sjef.2023.v07i03.009

K. Tsiaras, T. Simos

引用次数: 0

The Effect of Human Resource Quality and Technological and Market Accesses on Creative Economy Development in Indonesia 人力资源素质、技术和市场准入对印尼创意经济发展的影响

Saudi Journal of Economics and Finance Pub Date : 2023-03-28 DOI: 10.36348/sjef.2023.v07i03.007

Benedicta Tertia Putri Rikaltra, E. Soesilowati

{"title":"The Effect of Human Resource Quality and Technological and Market Accesses on Creative Economy Development in Indonesia","authors":"Benedicta Tertia Putri Rikaltra, E. Soesilowati","doi":"10.36348/sjef.2023.v07i03.007","DOIUrl":"https://doi.org/10.36348/sjef.2023.v07i03.007","url":null,"abstract":"This study primarily aimed to analyze the effect of the human development, Information, Communication, and Technology development index, and creative economy export value on the gross domestic product of the creative economy. Data were analyzed using multiple linear regression with Eviews 12. Study samples were time series data of creative economy GDP, Human Development Index, ICT development index, and creative economy product export values between 2007 and 2020. This study found that: (1) HDI significantly and partially affects the creative economy GDP, (2) the ICT development index significantly and partially affects the creative economy GDP, (3) creative economy product export values significantly and partially affect the creative economy GDP, and (4) HDI, ICT development index, and creative economy export values significantly and simultaneously affect the creative economy GDP. The result of this study suggests the need for the government to improve education quality, build sufficient, equal ICT infrastructure, and make regulations that facilitate creative economy actors. The creative economy actors are recommended to develop more creative products, while educators are suggested to develop more innovative learning methods.","PeriodicalId":153790,"journal":{"name":"Saudi Journal of Economics and Finance","volume":"199 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115658155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Performance Analysis of Regional Economic Development in West Java, Indonesia 印度尼西亚西爪哇省区域经济发展绩效分析

Saudi Journal of Economics and Finance Pub Date : 2023-03-28 DOI: 10.36348/sjef.2023.v07i03.008

Dwi Hastuti Lestari Komarlina, A. Rustandi

{"title":"Performance Analysis of Regional Economic Development in West Java, Indonesia","authors":"Dwi Hastuti Lestari Komarlina, A. Rustandi","doi":"10.36348/sjef.2023.v07i03.008","DOIUrl":"https://doi.org/10.36348/sjef.2023.v07i03.008","url":null,"abstract":"The purpose of this research is to find out and analyze the performance of local governments through the developmental achievements of unemployment, inflation, poverty, inequality, income distribution and economic growth in West Java over the last five years. Also to find out the dominance of the performance of the West Java Government based on targets on regional macroeconomics for the last five years. The research method uses descriptive case studies to analyze the performance of the West Java Provincial Government on regional macroeconomic variable data series which are estimated by each of the previous achievements and target plans. The results show that the development of the achievement of regional macroeconomic variables in the implementation process is a form of West Java Provincial Government performance that considers the evaluation of previous achievements and targeting orientation. In addition, efforts to maintain regional macroeconomic variables are trying to reduce unemployment, poverty, and the distribution of income balance. Meanwhile, the control is carried out on achieving inflation and the economic growth rate.","PeriodicalId":153790,"journal":{"name":"Saudi Journal of Economics and Finance","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124725094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Testing for Multiple Bubbles in the Nigerian Stock Exchange 尼日利亚证券交易所多重泡沫的检验

Saudi Journal of Economics and Finance Pub Date : 2023-03-24 DOI: 10.36348/sjef.2023.v07i03.006

O. Olulu-Briggs, Daniel Dornubari Sunday

引用次数: 0

Financial Liberalization and Banking System Development: Evidence from Arab Countries 金融自由化与银行体系发展:来自阿拉伯国家的证据

Saudi Journal of Economics and Finance Pub Date : 2023-03-21 DOI: 10.36348/sjef.2023.v07i03.005

Naïma Hleli, Mounir Smida

引用次数: 0