Asian Academy of Management Journal of Accounting and Finance最新文献_第5页

The impact of initial public offering (IPO) attributes, firm-level characteristics and ownership on Malaysian IPO firms’ earnings management 首次公开募股（IPO）属性、公司层面特征和所有权对马来西亚IPO公司盈余管理的影响

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI: 10.21315/aamjaf2022.18.1.10

Sani Hussaini Kalgo, H. S. Nahar, Bany Ariffin Amin Noordin

引用次数: 3

Monetary stimulus and bank liquidity hoarding in an emerging market 新兴市场的货币刺激和银行流动性囤积

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI: 10.21315/aamjaf2022.18.1.6

V. Dang, H. Nguyen

引用次数: 0

The impact of chief executive officer (CEO) and deal characteristics on mergers and acquisitions (M&A) duration: A quantile regression evidence from an emerging market 首席执行官和交易特征对并购持续时间的影响:来自新兴市场的分位数回归证据

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI: 10.21315/aamjaf2022.18.1.5

Haithm Mohammed Al-sabri, Norhafiza Nordin, H. Shahar

{"title":"The impact of chief executive officer (CEO) and deal characteristics on mergers and acquisitions (M&A) duration: A quantile regression evidence from an emerging market","authors":"Haithm Mohammed Al-sabri, Norhafiza Nordin, H. Shahar","doi":"10.21315/aamjaf2022.18.1.5","DOIUrl":"https://doi.org/10.21315/aamjaf2022.18.1.5","url":null,"abstract":"This paper examines the impact of chief executive officer (CEO) and deal characteristics on mergers and acquisitions (M&A) duration in Malaysia. Univariate analysis and quantile regression (QR) are performed on 556 completed M&As transactions undertaken by Malaysian public firms from 2001 to 2019. In line with the upper echelons theory, which states that organizational outcomes can be predicted by looking at the characteristics of top-level executives, the findings from QR show that CEO characteristics significantly affect acquisition duration. This effect is conditional on the duration quantiles for CEO tenure and CEO duality but non-conditional for foreign CEO. Specifically, the findings reveal that the degree of influence by CEO characteristics gets stronger when the transactions are longer and complicated. CEO tenure can decrease M&A duration when a transaction falls in longer duration quantile. M&A transactions tend to take a longer duration when there is CEO duality. Foreign CEOs show more ability to execute transactions in a short duration compared to local CEOs. Deal characteristics such as deal size, merger transaction, hiring a financial advisor and conducting multiple acquisitions are main factors that prolong duration. The findings of this study may benefit policymakers, managers, and investors who involve directly and indirectly in an M&A process.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42378964","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

Fair value accounting and audit fees: The moderating effect of the global financial crisis in Jordan 公允价值会计和审计费用：约旦全球金融危机的缓和作用

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI: 10.21315/aamjaf2022.18.1.7

E. Alharasis, M. Prokofieva, Colin Clark

{"title":"Fair value accounting and audit fees: The moderating effect of the global financial crisis in Jordan","authors":"E. Alharasis, M. Prokofieva, Colin Clark","doi":"10.21315/aamjaf2022.18.1.7","DOIUrl":"https://doi.org/10.21315/aamjaf2022.18.1.7","url":null,"abstract":"This article introduces new empirical evidence exploring the relationship between the introduction of Fair Value Disclosure (FVD) and audit fees, and the moderating effect of the Global Financial Crisis (GFC) on this relationship. This study is primarily motivated by the limited and inconclusive research on the monitoring costs resulting from FVD. The Ordinary Least Squares (OLS) method using a sample of 222 Jordanian firms during 2005–2018 is applied. The analysis finds that a greater level of FVD is the major cause of high audit fees. Results are more pronounced for firms with larger proportions of subjective FVDs (Level 3 assets). A significant negative (positive) impact of the precrisis (post-crisis) period on the association between the proportion of fair-valued assets and audit fees is confirmed. The regression results confirm the negative effect of pre-crisis period on moderating the association between the all-fair value input levels (Levels 1, 2 and 3 assets) and audit fees. The post-crisis period has a significant positive effect only in relation to Level 1 assets. Findings of this study provide policymakers and standards setters with updated evidence originating from a non-Western setting about the post-implementation costs of FVD.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43019040","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: 9

Systemic risk and real economic activity: A South African insurance stress index of systemic risk 系统性风险和实体经济活动:南非保险系统风险压力指数

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI: 10.21315/aamjaf2022.18.1.8

J. M. Mwamba, Serge Angaman

{"title":"Systemic risk and real economic activity: A South African insurance stress index of systemic risk","authors":"J. M. Mwamba, Serge Angaman","doi":"10.21315/aamjaf2022.18.1.8","DOIUrl":"https://doi.org/10.21315/aamjaf2022.18.1.8","url":null,"abstract":"This study investigates the link between systemic risk in the South African insurance sector real economic activity in South Africa. To this end, we use six systemic risk measures, the Conditional Value at Risk (CoVaR), the Marginal Conditional Value at Risk (ΔCoVaR), the Comovement and Interconnectedness of the South African insurance sector (Eigen), the Dynamic Mixture Copula Marginal Expected Shortfall (DMC-MES), the Average Conditional Volatility (Ave-vol), and the South African Volatility Index (SAVI). We first evaluate the significance of each measure by assessing its ability to forecast future economic downturns in South Africa. We find that only two systemic risk measures possess the ability to predict future economic downturns in South Africa. We then use principal component quantile regression analysis to aggregate these measures into a composite stress index of systemic risk for the South African insurance sector and assess the ability of the proposed index to predict future economic downturns in South Africa. Our results reveal that the proposed index is a good predictor of future economic downturns in South Africa. Thus, our results suggest that regulators and risk managers must develop an analysis of systemic risk in the insurance sector with particular attention to its effects on real economic activity. In addition, our index can potentially be used as an instrument to monitor and mitigate systemic risk in the insurance sector in order to ensure the stability of the financial system and the economy in South Africa.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41794378","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

Valuation effect of corporate name change in Chinese technology stocks 中国科技股公司名称变更的估值效应

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI: 10.21315/aamjaf2022.18.1.3

Li Hui, Y. Tan

引用次数: 1

Economics of risk-taking, risk-based capital and profitability: Empirical evidence of Islamic banks 风险承担、风险资本和盈利能力经济学：伊斯兰银行的经验证据

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI: 10.21315/aamjaf2022.18.1.1

Faisal Abbas, Shoaib Ali, I. Yousaf, W. Wong

{"title":"Economics of risk-taking, risk-based capital and profitability: Empirical evidence of Islamic banks","authors":"Faisal Abbas, Shoaib Ali, I. Yousaf, W. Wong","doi":"10.21315/aamjaf2022.18.1.1","DOIUrl":"https://doi.org/10.21315/aamjaf2022.18.1.1","url":null,"abstract":"This study aims to explore the interrelationship between risk-based capital, risktaking, and profitability. This study employs two-stage least square (2SLS) methods on the annual data of 217 Islamic banks from 35 countries ranging from 2010 to 2019. We find that the relationship between risk-based capital and risk-taking behaviour is negative, and the results are heterogeneous across different regions concerning both signs and significance. Consistent with the theory of moral hazard, we find the negative relationship between risk-based capital and Islamic banks’ risk-taking behaviour, implying that managers in Islamic banks could increase their investment in risky assets and keep only smaller amounts of capital. The concept of profit and loss sharing motivates them to take a higher risk and aim to get a higher yield. This relationship is also in line with the agency theory, inferring that bank managers could take excessive risk to get higher compensation to align with higher profitability. The results also reveal a positive relationship between risk-taking and profitability, which is in line with the portfolio theory in finance. The findings in our paper would be useful for decision-makers and bank managers in understanding the interrelationship between risk, capital, and profitability and no factor alone could be good enough to ensure bank soundness. Furthermore, our findings imply that regulators and bank managers should not only focus on bank capital for increasing banks’ stability. They should also look into both profitability and capital ratios in addition to bank capital because all three factors could increase banks’ stability simultaneously.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47626575","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: 4

Dynamic effect of corporate governance on financing decisions: Evidence from Sri Lanka 公司治理对融资决策的动态影响：来自斯里兰卡的证据

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2021-12-10 DOI: 10.21315/aamjaf2021.17.2.6

Ruzita Abdul-Rahim, Mohamed Cassim Abdul Nazar, Mohd Hasimi Yaacob Abdul-Rahim

{"title":"Dynamic effect of corporate governance on financing decisions: Evidence from Sri Lanka","authors":"Ruzita Abdul-Rahim, Mohamed Cassim Abdul Nazar, Mohd Hasimi Yaacob Abdul-Rahim","doi":"10.21315/aamjaf2021.17.2.6","DOIUrl":"https://doi.org/10.21315/aamjaf2021.17.2.6","url":null,"abstract":"This study investigates the role of corporate governance in influencing the debt financing decision of 198 non-financial listed companies in Sri Lanka from 2009 to 2016. Sri Lanka’s corporate governance (CG) code promotes dispersed ownerships, larger board size and balance of power and authority through various means, such as exclusivity between the Chief Executive Officer and Chairperson and the independent Board composition. This study tests the role of CG through four indicators while controlling for other firm-specific variables. Results of the two-step system Generalized Method of Moments on a balance panel data shows that the effect of CG indicators on financing decision depends on the financing terms. In general, the influence of CG indicators is significant on the two debt financing measurements, except for managerial ownership when investments in assets are involved. This influence appears eminent in predicting the debt ratio, although the effect is not necessarily consistent with the hypotheses. The latest revision on CG codes of best practices has also improved firms’ access to debt financing, except for raising long-term debt to acquire assets. Results imply that the Sri Lankan firms adopting the CG best practices would need to rely on other factors to access long-term debt financing or on other external financing sources.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44392297","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

Does corporate ownership enforce sustainable development? An empirical study on Korean companies. 公司所有权是否能促进可持续发展?对韩国企业的实证研究。

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2021-12-10 DOI: 10.21315/aamjaf2021.17.2.9

Youngsoo Ra

引用次数: 3

The influence of liquidity risk on efficiency in rural banks: the moderating role of interbank borrowing fund 流动性风险对村镇银行效率的影响：同业拆借资金的调节作用

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Asian Academy of Management Journal of Accounting and Finance Pub Date : 2021-12-10 DOI: 10.21315/aamjaf2021.17.2.3

Meliza Zafrizal, Rubayah Yakob, S. Low

{"title":"The influence of liquidity risk on efficiency in rural banks: the moderating role of interbank borrowing fund","authors":"Meliza Zafrizal, Rubayah Yakob, S. Low","doi":"10.21315/aamjaf2021.17.2.3","DOIUrl":"https://doi.org/10.21315/aamjaf2021.17.2.3","url":null,"abstract":"High competition in Indonesian banking sectors has resulted in the non-survival of rural banks in Indonesia in the long run. The lack of third-party funding becomes one of the most important factors that cause many rural banks to face liquidity risk. Hence, many rural banks use interbank borrowing fund as an alternative source of funding in order to meet their liquidity requirement. Moreover, this risk also leads to many rural banks in Indonesia having to deal with low efficiency problem. This research examines not only the influence of liquidity risk on efficiency but also the role of interbank borrowing fund as a moderator variable. Random effect regression analysis reveals that liquidity risk has negative influence on efficiency. Furthermore, as moderator variable, interbank borrowing fund is shown to enhance the influence of liquidity risk on efficiency. This research becomes guidance for rural banks in managing their liquidity risk and efficiency. In addition, this research also can provide direction for authority in setting some regulation regarding to rural banks’ activities in interbank market.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48620791","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