Journal of Islamic Accounting and Finance Research最新文献_第9页

Firms’ Financing Choices and Profitability in the For-Profit Education Industry: An Empirical Survey of Education Companies Listed on the NYSE and NASDAQ Stock Markets 营利性教育行业企业融资选择与盈利能力:对纽约证交所和纳斯达克上市教育公司的实证调查

Journal of Islamic Accounting and Finance Research Pub Date : 2020-04-07 DOI: 10.5430/afr.v9n2p46

A. Quintiliani

{"title":"Firms’ Financing Choices and Profitability in the For-Profit Education Industry: An Empirical Survey of Education Companies Listed on the NYSE and NASDAQ Stock Markets","authors":"A. Quintiliani","doi":"10.5430/afr.v9n2p46","DOIUrl":"https://doi.org/10.5430/afr.v9n2p46","url":null,"abstract":"This study seeks to understand financing choices and its relationships with profitability of for-profit education companies listed on NASDAQ and NYSE. This study tests the hypothesis that knowledge-based firms with higher assets intangibility used less debt in their capital structures than capital-intensive firms with higher assets tangibility. Capital structure theory is a useful framework to explain research findings. Tests were conducted on a sample consisting of education companies and capital-intensive firms listed on NASDAQ and NYSE during the period 2000-2018. Data collected by Zacks Premium database were submitted to regression analysis. Findings suggest that capital-intensive firms have higher debt ratios than education companies. Also, this study finds existence of a strong inverse relationship between profitability and the amount of debt in the capital structure of capital-intensive firms while no such relationship was found between these two variables for the education companies. This study’s findings could provide valuable information to policymakers and investors to identify suitable financing policies in the for-profit education industry. Findings can also be useful to stimulate debate on the role of equity financing to supporting growth policies of for-profit education industry. This study attempts to fill the absence of empirical studies on financial policies of for-profit education firms. Contribution/ Originality : The main contribution of this study is that it will increase knowledge about funding able to sustain for-profit education firm's growth. Furthermore, this study tries to fill the lack of studies who investigate explicitly (empirically or theoretically) funding policies of for-profit education firms.","PeriodicalId":34570,"journal":{"name":"Journal of Islamic Accounting and Finance Research","volume":"1 1","pages":"46"},"PeriodicalIF":0.0,"publicationDate":"2020-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90312396","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

Factors Affecting Business Failure of Small and Very Small Greek Family Enterprises 影响希腊小型和极小型家族企业经营失败的因素

Journal of Islamic Accounting and Finance Research Pub Date : 2020-03-27 DOI: 10.5430/afr.v9n2p35

Nikolaos Arnis, K. Karamanis, Georgios Kolias

引用次数: 0

Flight to Quality Existence in the Egyptian Stock Market: An Analysis of Stock Market, Quality Stock and Treasury Bills 埃及股票市场向优质存续的逃离:股票市场、优质股票和国库券的分析

Journal of Islamic Accounting and Finance Research Pub Date : 2020-03-20 DOI: 10.5430/AFR.V9N2P1

D. S. Sedeek, Khairy Elgiziry

引用次数: 0

Short-Term and Long-Term Effect of Firms’ IPO on Competitors’ Performance 企业IPO对竞争对手绩效的短期和长期影响

Journal of Islamic Accounting and Finance Research Pub Date : 2020-02-28 DOI: 10.32350/JFAR/0201/05

Nadia Marcha Chintya, Nadya Theodora, V. Evelyn, A. Teja

引用次数: 2

What is the Return Rate of a Corporate Pension Scheme? Generalized Annuity Factors Simplify Calculation 企业退休金计划的回报率是多少?广义年金因子简化计算

Journal of Islamic Accounting and Finance Research Pub Date : 2020-02-17 DOI: 10.5430/afr.v9n1p76

J. Wilde

{"title":"What is the Return Rate of a Corporate Pension Scheme? Generalized Annuity Factors Simplify Calculation","authors":"J. Wilde","doi":"10.5430/afr.v9n1p76","DOIUrl":"https://doi.org/10.5430/afr.v9n1p76","url":null,"abstract":"Corporate pension schemes are widely spread especially in Northern Europe, North America, Japan. Often the major portion of defined contributions to the scheme is shouldered by the employer. A crucial question for an employee is, whether the return from his/her corporate pension plan - taking into account the corporate engagement and eventually governmental savings promotion - is favourable in comparison to other capital products for the time of retirement. This question is not answered by the absolute return in form of the future pension amount. Additionally, the employee must know the relative return, the Pension Rate of Return (PRR), in relation to what he/she has invested in form of employee contributions into the pension plan during his/her work life. Focussing on better pension information and also on counteraction to melting interest return, two current topics will be addressed. A very useful evaluation instrument for this task is the Generalized Annuity Factor (GAF). It is a generalization of the well-known Annuity Factor, which is restricted to constant payments only. With GAF any time dependent payments, e.g. linear or more complex nonlinear payments over time can be valued by a compressed closed-form formula in the same manner as constant payments by the classic Annuity Factor. Pension payments regarding mortality are such complex payments depending systematically on age. Because of its computational efficiency the new instrument simplifies calculations to be done also in smaller funds, firms or public services with common spreadsheet programs .","PeriodicalId":34570,"journal":{"name":"Journal of Islamic Accounting and Finance Research","volume":"4 1","pages":"76"},"PeriodicalIF":0.0,"publicationDate":"2020-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85356987","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

Investors’ Structure and Investment Decision Making Factors: Evidence from Capital Market in Bangladesh 投资者结构与投资决策因素:来自孟加拉国资本市场的证据

Journal of Islamic Accounting and Finance Research Pub Date : 2020-01-30 DOI: 10.5430/afr.v9n1p67

Md. Hafizur Rahman Khan, M. Islam

引用次数: 1

Compliance with Continuing Professional Development (IES7) of Internal Auditor and Quality of Internal Audit Function 遵守内部审计师持续专业发展(IES7)和内部审计职能的质量

Journal of Islamic Accounting and Finance Research Pub Date : 2020-01-06 DOI: 10.5430/afr.v9n1p28

Yaser Saleh Al-Frijat

{"title":"Compliance with Continuing Professional Development (IES7) of Internal Auditor and Quality of Internal Audit Function","authors":"Yaser Saleh Al-Frijat","doi":"10.5430/afr.v9n1p28","DOIUrl":"https://doi.org/10.5430/afr.v9n1p28","url":null,"abstract":"This paper aims to highlight the importance of compliance with continuing professional development (CPD) of internal auditors and its relationship to the quality of internal audit. The study utilised a Partial Least Squares Structural Equation Modelling (PLS-SEM), which emphasise on the analyses of regression and variance by distributing a questionnaire to the study sample of internal auditors in four countries (Jordan, Lebanon, Qatar and Kuwait), and the number of samples valid for statistical analysis reached 104. The paper has reached positive results regarding the importance of CPD in improving the quality of the internal audit, focused on the continuous follow-up to changes related to income and sales tax law, international financial reporting standards (IFRS), International Accounting Standards (IAS), and International Auditing Standards (IAS). Besides, modern Computer and Technological Applications in Internal audit practices and audit ethics. The results also indicated that CPD represents in professional skills is the development of skills to detect and combat theft and fraud, critical thinking skills of analyzed data. Original/Value, the CPD is the impulse by which internal auditors continue to learn new technical knowledge and skills that support them in professional work, to make them more qualified and developed in terms of knowledge and the skills needed within the labour markets.","PeriodicalId":34570,"journal":{"name":"Journal of Islamic Accounting and Finance Research","volume":"46 1","pages":"28"},"PeriodicalIF":0.0,"publicationDate":"2020-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82654164","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: 2

Statewide Adoption of the AICPA Code of Professional Conduct: A Review of Recent AICPA Disciplinary Actions 美国注册会计师协会职业行为准则在全州范围内的采用:对美国注册会计师协会最近的纪律处分的回顾

Journal of Islamic Accounting and Finance Research Pub Date : 2020-01-06 DOI: 10.5430/afr.v9n1p16

Devon Baranek, Ethan Kinory

引用次数: 0

Irrelevance of inflation: The Dow stocks 与通胀无关:道指

Journal of Islamic Accounting and Finance Research Pub Date : 2020-01-05 DOI: 10.5430/afr.v9n1p45

S. Azar

{"title":"Irrelevance of inflation: The Dow stocks","authors":"S. Azar","doi":"10.5430/afr.v9n1p45","DOIUrl":"https://doi.org/10.5430/afr.v9n1p45","url":null,"abstract":"The irrelevance of inflation is a proposition, inherited from corporate finance, which states that inflation is irrelevant for the valuation of nominal and real stock prices. In other terms, Net Present Values (NPVs) and stock returns are independent of the inflation rate. The issue at stake is both theoretical and empirical, although the first came much before the latter. In the empirical realm, stock returns are found to be statistically negatively related to inflation. However, and theoretically, the classical school predicted that they should be related positively one-to-one. Moreover long run analysis, that came later, found that stock prices are positively related to price indexes. This stems from the fact that stocks are claims upon real assets, and, therefore, should be a hedge against inflation with the same one-to-one relation. This paper differs by subjecting all these hypotheses to the individual stocks included in the Dow Jones Industrial Index, and not to returns calculated from stock indexes, which is the usage. The empirical results in this paper support strongly the irrelevance of inflation. This is true whatever the price index, whatever the econometric procedure, whatever the industry to which the stock belongs, and whatever the specification of the model. Hence inflation is neither negatively nor positively related to stock returns, whether nominal or real.","PeriodicalId":34570,"journal":{"name":"Journal of Islamic Accounting and Finance Research","volume":"48 1","pages":"45"},"PeriodicalIF":0.0,"publicationDate":"2020-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74314336","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: 2

Preferential Income Tax Rate and Research and Development Investment: Evidence from Small and Medium-Sized Listed Firms in China 所得税优惠税率与研发投资:来自中国中小上市公司的证据

Journal of Islamic Accounting and Finance Research Pub Date : 2019-12-12 DOI: 10.5430/afr.v9n1p1

Xiaobao Song, Chunfan Guo, W. Su

引用次数: 0