Asian Academy of Management Journal of Accounting and Finance最新文献_第10页

Socially Responsible Investment, Internal Financing Sources and Access to Bank Financing: Evidence from Indian Survey Data 社会责任投资、内部融资来源和银行融资渠道:来自印度调查数据的证据

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/aamjaf2017.13.2.6

Amarjit Gill, Harvinder S. Mand, A. Amiraslany, Neil Mathur

引用次数: 0

Firm Level, Ownership Concentration and Industry Level Determinants of Capital Structure in An Emerging Market: Indonesia Evidence 新兴市场资本结构的企业层面、所有权集中度和行业层面决定因素：印尼证据

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/AAMJAF2018.14.1.6

Razali Haron

引用次数: 23

Do Insiders Trading Before Open Market Share Repurchase Announcement Give an Additional Signaling? A Study in The Indian Context 公开市场股票回购公告前的内幕交易是否发出了额外的信号？印度语境研究

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/AAMJAF2018.14.2.5

Sarthak Kumar Jena, C. Mishra, Prabina Rajib

{"title":"Do Insiders Trading Before Open Market Share Repurchase Announcement Give an Additional Signaling? A Study in The Indian Context","authors":"Sarthak Kumar Jena, C. Mishra, Prabina Rajib","doi":"10.21315/AAMJAF2018.14.2.5","DOIUrl":"https://doi.org/10.21315/AAMJAF2018.14.2.5","url":null,"abstract":"This paper aims to derive an undervaluation signal from the insider trading of Indian companies, where the ownership is complex and concentrated, investorsâ€™ protection is weak, and the insider rules and regulations are not stringent like a developed country. It also examines the relationship between insider trading and the actual share repurchase by the firm. A sample of 78 companies spanning from 2008â€“09 to 2014â€“15 is analysed in this study because of the unavailability of insider data in the Indian context. The paper finds that insider trading of sample firms are more than matching firms before buyback announcement. Insider buying before share repurchase announcement positively influences share repurchase decisions. We observed that insider buying has a positive and significant relationship, whereas insider selling has a negative and significant relationship with announcement return. We also found that insider buying has a positive and significant relationship with actual share repurchase and program completion. The study is constrained by the small sample size, so the results must be viewed by keeping this limitation in mind. The paper is the first study in the Indian context wherein the insider trading literature is extended to share repurchase to find out undervaluation signal associated with it.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":"14 1","pages":"103-135"},"PeriodicalIF":0.9,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67726826","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

Bank Risk Taking Behaviour in Malaysia: Role of Board and Ownership Structure 马来西亚银行的风险承担行为：董事会和股权结构的作用

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/AAMJAF2017.13.2.1

L. Loh, Sok-Gee Chan

引用次数: 2

Dividend Capture on the Ex-Dividend Day: Evidence from Vietnamese Stock Market 除息日的股息捕获：来自越南股市的证据

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/aamjaf2017.13.2.4

Quoc Trung Tran

引用次数: 3

Retention ratio, lock-up period and prestige signals and their relationship with initial public offering (IPO) initial return: Malaysian evidence 保留率、锁定期和声望信号及其与首次公开募股（IPO）初始回报的关系：马来西亚证据

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/AAMJAF2018.14.2.1

Ali Albada, Othman Yong, Mohd. Ezani Mat Hassan, Ruzita Abdul-Rahim

{"title":"Retention ratio, lock-up period and prestige signals and their relationship with initial public offering (IPO) initial return: Malaysian evidence","authors":"Ali Albada, Othman Yong, Mohd. Ezani Mat Hassan, Ruzita Abdul-Rahim","doi":"10.21315/AAMJAF2018.14.2.1","DOIUrl":"https://doi.org/10.21315/AAMJAF2018.14.2.1","url":null,"abstract":"High-quality issuing firms with encouraging inside information regarding their prospect will use signalling to differentiate their issues from low-quality issuing firms and convince prospective investors regarding the value of their firm. Hence, the present study investigates the dominant signals in explaining the initial return in the Malaysian IPO market. The study investigates the following signalling variables: Lock-up period, shareholder retention ratio, underwriter reputation, auditor reputation and board reputation. Moreover, the current study also uses the stepwise regression analysis to know the order of contribution of the signalling variables to the overall model. The results of the regression analysis show that three signals out of five have a significant relationship with the initial return. Furthermore, the stepwise regression shows their order of contribution, where shareholder retention ratio is ranked first, followed by auditor reputation and board reputation. The outcomes of the present study offer new evidence regarding the kind of information that investors should be concerned with when evaluating IPOs and making decisions concerning investment in the Malaysian IPO market.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":"14 1","pages":"1-23"},"PeriodicalIF":0.9,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67726331","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: 7

The role of financial development on foreign direct investment in asean-5 countries: Panel cointegration with cross-sectional dependency analysis 金融发展对东盟五国外国直接投资的作用:面板协整与横断面依赖分析

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/AAMJAF2018.14.1.1

Elya Nabila Abdul Bahri, A. H. S. M. Nor, Nor Hakimah Haji Mohd Nor

{"title":"The role of financial development on foreign direct investment in asean-5 countries: Panel cointegration with cross-sectional dependency analysis","authors":"Elya Nabila Abdul Bahri, A. H. S. M. Nor, Nor Hakimah Haji Mohd Nor","doi":"10.21315/AAMJAF2018.14.1.1","DOIUrl":"https://doi.org/10.21315/AAMJAF2018.14.1.1","url":null,"abstract":"This paper investigates the impact of the financial development on foreign direct investment (FDI) inflows in ASEAN-5 countries over the period of 1980A±2013. The 5 countries included in this study are Malaysia, Thailand, Indonesia, Singapore and Philippines. In the model, financial development, consumer price index (CPI) and real gross domestic product (GDP) per capita are the independent variables. The stationarity of the variables is examined through both first- and second-generation unit root tests with the cross-sectional dependence among countries. The Pedroni and Westerlund cointegration tests results show the existence of long run relationship among the variables. Long term coefficients are estimated using Fully Modified Ordinary Least Square (FMOLS) model and it reveals that financial development has a nonlinear relation with FDI. When financial development passes the threshold point at above 70 point, it will benefit the FDI. Furthermore, the Panel Vector Error Correction Model (VECM) is applied to examine the causality relationship among the associated variables. The causality analysis confirms the presence of both long- term relationship and short term dynamic among the FDI, financial development, CPI and real GDP per capita.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":"14 1","pages":"1-23"},"PeriodicalIF":0.9,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67725972","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: 7

Impact of China on Malaysian Economy: Empirical Evidence of Sign-Restricted Structural Vector Autoregression (SVAR) Model 中国对马来西亚经济的影响:符号限制结构向量自回归(SVAR)模型的实证

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/aamjaf2018.14.2.2

M. Zaidi, Zulkefly Abdul Karim

{"title":"Impact of China on Malaysian Economy: Empirical Evidence of Sign-Restricted Structural Vector Autoregression (SVAR) Model","authors":"M. Zaidi, Zulkefly Abdul Karim","doi":"10.21315/aamjaf2018.14.2.2","DOIUrl":"https://doi.org/10.21315/aamjaf2018.14.2.2","url":null,"abstract":"China has been developing aggressively since its accession into the World Trade Organisation. Consequently, China has become one of the major trading partners to many countries in the world including Malaysia. To what extent China has affected Malaysian economy has been a hot issue facing the economists and practitioners. This paper examines the influence of China on Malaysian economic performances. Using structural vector autoregression (SVAR) methodology that takes into account the effect of other major trading partner countries such as the U.S., Japan and Singapore, the results indicate that different utilisation of foreign country variables to represent external sector in the model brings about different impact on domestic variables. It is shown that the U.S. is particularly important to affect domestic output while China is more important in influencing domestic inflation and the exchange rate, especially with regards to their respective income shocks. In addition, Singapore plays more dominant role in affecting domestic sector when foreign monetary policy shocks are considered. Japan is however more influential in affecting the exchange rate in some other shocks. While China is showing their dominance in the world economy, the study implies that knowing which country exactly affects which domestic Published date: 31 December 2018 To cite this article: Zaidi, M. A. S., Karim, Z. A., & Kefeli, Z. (2018). Impact of China on Malaysian economy: Empirical evidence of sign-restricted structural vector autoregression (SVAR) model. Asian Academy of Management Journal of Accounting and Finance, 14(2), 25–44. https://doi. org/10.21315/aamjaf2018.14.2.2 To link to this article: https://doi.org/10.21315/aamjaf2018.14.2.2 Mohd Azlan Shah Zaidi et al. 26 variables is very crucial in mitigating the adverse impact of foreign policy change or shocks in the process of transforming Malaysia’s economy toward high income nation in the near future.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":"97 1","pages":"25-44"},"PeriodicalIF":0.9,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67726943","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: 6

The Mediating Role of Environmental Performance on the Relationship between Corporate Governance Mechanisms and Environmental Disclosure 环境绩效在公司治理机制与环境信息披露关系中的中介作用

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/AAMJAF2018.14.1.7

Razieh Adinehzadeh, Romlah Jaffar, Zaleha Abdul Shukor, M. Rahman

{"title":"The Mediating Role of Environmental Performance on the Relationship between Corporate Governance Mechanisms and Environmental Disclosure","authors":"Razieh Adinehzadeh, Romlah Jaffar, Zaleha Abdul Shukor, M. Rahman","doi":"10.21315/AAMJAF2018.14.1.7","DOIUrl":"https://doi.org/10.21315/AAMJAF2018.14.1.7","url":null,"abstract":"Despite the growing number of environmental rules and regulations, there are relatively few studies that consider the whole association between environmental performance, corporate governance and environmental reporting. Therefore, the objectives of the study are to investigate the association between corporate governance and environmental disclosures quality and the mediating role of environmental performance in this relationship. Sample of study consists of 344 companies listed on Bursa Malaysia for the year of 2013. Environmental performance (EP) data were collected from the Malaysia Department of the Environment (DOE). Corporate Governance (CG) data were collected from the annual report of sample companies using corporate governance index based on Malaysian Code on Corporate Governance (MCCG). The results of study show that corporate governance is positively associated with environmental performance and its disclosure. The results also show that environmental performance partially mediates the relationship between corporate governance and environmental disclosure quality. This study serves as a valuable input to top management regarding the importance of corporate governance mechanisms towards the establishment of environmental related policies and strategies that help to improve environmental performance. The findings also provide an impetus for companies to develop specific abilities and resources in prioritised areas that are of a concern to relevant stakeholders.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":"14 1","pages":"153-183"},"PeriodicalIF":0.9,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67726607","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: 20

Governance of Behavioural Biases in Asset Management Industry: Insights from Fund Managers in Malaysia 资产管理行业行为偏差的治理:来自马来西亚基金经理的见解

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2018-01-01 DOI: 10.21315/AAMJAF2018.14.2.4

Zamri Ahmad, Haslindar Ibrahim, Jasman Tuyon

引用次数: 4