scholarly journals The Impact of Audit Committee Characteristics on the Creative Accounting Practices Reduction in Jordanian Commercial Banks

2019 ◽  
Vol 13 (6) ◽  
pp. 113
Author(s):  
Khalil Suleiman Abu Saleem
Keyword(s):  
Commercial Banks ◽  
Audit Committee ◽  
Degrees Of Freedom ◽  
Time Series Data ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Annual Reports ◽  
Series Data ◽  
Creative Accounting ◽  
The Impact

This study aimed at determining the impact of the characteristics of the Audit Committee (The effect of Activity of the Audit Committee, the size of the Audit Committee, and Independence of the Audit Committee) in reducing creative accounting practicesin Jordanian commercial banks.The study population is composed of all Jordanian banks listed on the Amman Stock Exchange (16), during the period from 2011 to 2017. The study sample is represented by all Jordanian commercial banks. The current study is based on panel data since the data combine one-time and cross-section data for a period of time. The data was composed of a set of indicators for 13 Jordanian commercial banks for the period from 2011 to 2017, and data have been collected from the banks' annual reports. The adoption of the study on the analysis of time-series data comes from the increase in degrees of freedom. The results of the hypothesis test indicate that there is a significant effect of Audit Committee characteristics on the reduction of creative accounting practices in Jordanian banks at a level of significance of 0.05 except for variable (size of the Audit Committee).

Revisiting the growth effects of government bonds in the emerging capital market.

2019 ◽  
Vol 3 (1) ◽  
pp. 32-38
Author(s):  
Temitayo O. Olaniyan ◽  
Samuel O. Ekundayo
Keyword(s):  
Method Of Moments ◽  
Capital Market ◽  
Time Series Data ◽  
Stock Exchange ◽  
Annual Reports ◽  
Series Data ◽  
Government Bonds ◽  
Market Growth ◽  
The Public ◽  
Generalised Method Of Moments

We revisited the effects of government bonds for the growth on the Nigerian capital market. Utilising time-series data obtained from the Nigeria Stock Exchange (NSE) annual reports for the period from 2010 to 2017, this study through the Generalised Method of Moments (GMM) regression estimator found that the value and the number of listed government bonds’ positively and significantly affect capital market growth in Nigeria. Furthermore, low capitalisation of government bonds negatively affects the growth of the market. The null hypothesis of the Hansen J-statistics is accepted; hence this implies that the IVs used in the GMM model is valid. We concluded that government bonds have positive and significant effects on the growth of the Nigerian capital market, thus government bonds have made the NSE All-Share Index grow over the period under investigation. Following the findings from the study, it was recommended, inter alia, that there should be more issuance of government bonds to the public and further to enhance the efficiency of the capital markets, both primary and secondary, while the funds raised from the capital market through government issuance should be channelled towards Nigeria’s productive sectors to promote an all-inclusive growth in the Nigerian economy.

Terrorism and Stock Market Linkages: An Empirical Study from a Front-line State

2017 ◽  
Vol 18 (2) ◽  
pp. 365-378 ◽  
Author(s):  
Imtiaz Arif ◽  
Tahir Suleman
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Time Series Data ◽  
Negative Impact ◽  
Stock Exchange ◽  
Series Data ◽  
Front Line ◽  
Long Run ◽  
Factor Index ◽  
The Impact

This article investigates the impact of prolonged terrorist activities on stock prices of different sectors listed in the Karachi Stock Exchange (KSE) by using the newly developed terrorism impact factor index with lingering effect (TIFL) and monthly time series data from 2002 (January) to 2011 (December). Johansen and Juselius (JJ) cointegration revealed a long-run relationship between terrorism and stock price. Normalized cointegration vectors are used to test the effect of terrorism on stock price. Results demonstrate a significantly mixed positive and negative impact of prolonged terrorism on stock prices of different sectors and show that the market has not become insensitive to the prolonged terrorist attacks.

scholarly journals Impact of Macro-Economic Variable on Pakistan Stock Exchange KSE-100 Index

2021 ◽  
Vol 2 (3) ◽  
pp. 17-23
Author(s):  
Muhammad Faisal Hassan ◽  
Hashim Bin Jusoh ◽  
Sajjad Khan ◽  
Fahad Ali Khan ◽  
Muhammad Naseem ◽  
...  
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Time Series Data ◽  
Positive Impact ◽  
Stock Exchange ◽  
Ordinary Least Squares ◽  
Series Data ◽  
Short Run ◽  
The Impact ◽  
Adf Test

The researcher investigates the Impact of inflation, exchange rate and interest rate on Pakistan stock Exchange performance KSE-100 index by using monthly time series data which covers the period of 2013 to 2020. The econometrics techniques which are employed includes ADF test, Ordinary Least squares regression Model, testing for Multi-collinearity, Residual analysis serial correlation, testing for co-integration, Error correction model (ECM), variance decomposition (VAR) and Pair wise granger causality test. The results indicate that there is positive impact of exchange rate on PSX 100 index and the impact of inflation and interest rate is fond negative but inflation have insignificant relationship with PSX 100 index and the other two relationships are found significant. From the ECM result it is found that in short run 20% of the variation in dependent variable is due to inflation, exchange rate and interest rate and 80% variation is unexplained in short run. Form the results of VAR test it is concluded that exchange rate 1.67, inflation 14.25%, and interest rate 3.90% variation cause in PSX 100 index performance due to these three independent variables.

scholarly journals Responsiveness of Capital Market on the Output of Manufacturing Firms in Nigeria

2019 ◽  
Vol 6 (1) ◽  
pp. 17
Author(s):  
Madubuko Cyril Ubesie ◽  
Matthew Emeziem Ude
Keyword(s):  
Capital Market ◽  
Time Series Data ◽  
Stock Exchange ◽  
Manufacturing Firms ◽  
Series Data ◽  
Fair Trading ◽  
Distributed Lag ◽  
Ex Post ◽  
The Impact ◽  
Bound Test

Capital market provides the necessary lubricant that keeps turning the wheel of the economy. It does not only provide the funds required for investment but also efficiently allocates these funds to projects of best returns to investors. This study empirically examined the responsiveness of capital market on productivity (Output) of manufacturing firms in Nigeria (1990 – 2016). Specifically, the study examined the impact of Market capitalization, Total listed equities and All Share Index on the productivity (Output) of manufacturing firms in Nigeria. Annual time series data obtained from the Central Bank of Nigeria (CBN) statistical bulletin, 2016 edition was utilized. The study adopted the ex-post facto research design and employed the Autoregressive Distributed Lag (ARDL) bound test approach. The findings revealed that capital market indices of the Nigerian Stock Exchange (proxy by MCAP, TLE, and ASI) have long-run significant influence on the productivity of manufacturing firms in Nigeria. Based on these findings, it was recommended among others that there is need to restore confidence to the market by regulatory authorities through ensuring transparency and fair trading transaction and dealings in the stock exchange which in turn will help to improve economic growth in Nigeria; also that the private sector should be encouraged to invest in capital market to boost productivity (Output) and improve the growth of Nigerian economy.

scholarly journals CORPORATE GOVERNANCE AND BANK PERFORMANCE IN NIGERIA: AN EMPIRICAL INVESTIGATION

2020 ◽  
Vol 3 (2) ◽  
Author(s):  
Jude Jisike Okonkwo ◽  
Bernard Chukwuebuka Azolibe
Keyword(s):  
Corporate Governance ◽  
Time Series Data ◽  
Stock Exchange ◽  
Annual Reports ◽  
Series Data ◽  
Outside Directors ◽  
Causality Test ◽  
Effective Governance ◽  
Optimum Proportion ◽  
Independent Variable

The prevalent issue of manipulation and abuse among Nigerian banks necessitated this study. Thus, this research study extensively the effectiveness of corporate governance in Nigerian banks for the period 2006-2018. The study adopted secondary time series data obtained from annual reports of banks, publications of the Central Bank of Nigeria and Nigeria Stock Exchange annual reports and factbook. A diagnostic test was conducted to ensure that the models are in line with basic econometric assumptions. The granger causality test was applied to examine the effect of the independent variable on the dependent variable. The findings show that corporate governance has a significant effect on performance. It recommends an optimum proportion of outside directors for effective governance impacting performance positively

scholarly journals Daily Stock Movements Through the Lens of Event and News: Evidence from the Pakistan Stock Exchange

2021 ◽  
Author(s):  
Shahid Raza ◽  
Baiqing Sun ◽  
Pwint Kay Khine
Keyword(s):  
Stock Market ◽  
Time Series Data ◽  
Stock Exchange ◽  
Series Data ◽  
News Daily ◽  
Stock Market Index ◽  
Daily Newspaper ◽  
Monthly Basis ◽  
Market Index ◽  
The Impact

This study will investigate different signals and events/news that determined the stock market's movements. As we know, many factors affect the stock market on a daily, weekly, and monthly basis, e.g., rate of interest, exchange rate, and oil prices, etc. Our research will investigate the impact of daily events/news in the KSE-100 index due to several policies announced and events/news in the country because the daily movements in the stock market can be determined only by different signals and events/news. Time series data is collected daily for particular reasons from "The News" (Daily Newspaper, Sunday edition) from 2010 to 2019. The results of this study show that political and global news affects the stock market index ferociously. For investors, the investment in blue chips is not less than a safe haven. When day-to-day transactions are concerned, there is always a higher panic attack than the herd behaviour in the stock exchange. Investors tend to make prompt responses to negative rather than positive news, which makes them risk averters. Our finding also confirmed that the ARCH/GARCH model is better than the simple OLS method concerning stock market upheaval.

scholarly journals The Impact of Gold Price and Us Dollar Index: The Volatile Case of Shanghai Stock Exchange and Bombay Stock Exchange During the Crisis of Covid-19

2021 ◽  
Vol 25 (3) ◽  
pp. 508-531
Author(s):  
Joseph John Allwyn Kumar ◽  
Robiyanto Robiyanto
Keyword(s):  
Time Series Data ◽  
Stock Exchange ◽  
Gold Price ◽  
Series Data ◽  
Stock Market Volatility ◽  
Test Results ◽  
Normality Test ◽  
The Impact ◽  
India And China ◽  
Daily Time

This literature aims to analyze the impact of the Dollar Index and Gold Price returns and volatility on stock market volatility of India and China, viz., Shanghai Stock Exchange and Bombay Stock Exchange Sensex, during the period of Covid-19. This study employs daily time-series data from January up to August for 2019, 2020, and a merged data of 2019-2020, i.e., Pre-Pandemic, Mid-Pandemic and Pre through Mid-Pandemic periods, respectively; to avoid possible abnormalities and heteroscedasticity, the GARCH (1,1) model is utilized to scrutinize the data depending on which distribution is more acceptable, GED or Gaussian, which is decided based on the Unit-Root and normality test results. The findings of this study prove that Gold Price mostly does have a significant effect on both markets, especially during times of financial crisis like the Covid-19 epidemic. Whereas Dollar Index has a significant impact on emerging markets such as India and China though significant effects persist in some cases, it is not valid in most cases.DOI: 10.26905/jkdp.v25i3.5142

scholarly journals The impact of corporate governance on the disclosure level in the interim financial reporting: An empirical study of Vietnamese commercial banks

2021 ◽  
Vol 16 (1) ◽  
pp. 27-35
Author(s):  
Tran Quoc Thinh ◽  
◽  
Dang Anh Tuan ◽  
Le Xuan Thuy ◽  
◽  
...  
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Commercial Banks ◽  
Boards Of Directors ◽  
Time Series Data ◽  
Ordinary Least Squares ◽  
Series Data ◽  
Business Decisions ◽  
Two Factors ◽  
The Impact

The disclosure level in the interim financial reporting is important to users when making business decisions. Useful information from interim financial reporting ensures timeliness and flexibility of business operations. Information disclosures that ensure completeness will enhance the quality of information for users. The paper aims to examine the factors of corporate governance that affect the disclosure level in interim financial reporting of Vietnamese commercial banks. To test the model, ordinary least squares (OLS) are used. For the data of this study, 286 samples of 30 commercial banks were studied and time series data were used for 10 years from 2010 to 2019. The results show that there are two factors that positively influence the disclosure level in interim financial reporting, such as the Board size and foreign Board members. Thus, the paper offers some policy recommendations for the Central bank of Vietnam and Boards of directors of commercial banks, as well as investors to improve disclosure in interim financial reporting.

scholarly journals Audit Committee Characteristics and their Impact on Intellectual Capital Disclosure: A Study of Listed Manufacturing Companies in Sri Lanka

2019 ◽  
Vol 14 (1) ◽  
pp. 135-149
Author(s):  
Nimalathasan Balasundaram ◽  
Keyword(s):  
Sri Lanka ◽  
Intellectual Capital ◽  
Audit Committee ◽  
Stock Exchange ◽  
Listed Companies ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Sri Lankan ◽  
Manufacturing Companies ◽  
The Impact

In the today’s knowledge based economy, intellectual capital (IC) is considered as a strategic asset which determines the value of the company. Different practices of disclosing IC information in annual reports that do not show the real financial position of a company, is a main problem in Sri Lankan companies. The objective of this study was to find out the impact of audit committee characteristics on Intellectual Capital Disclosure (ICD) of listed companies on the Colombo Stock Exchange (CSE) for a period of five- years from 2012/2013 to 2017/2018. The ICD index comprised of 30 items in terms of Relational Capital Disclosure (RCD), Structural Capital Disclosure (SCD) and Human Capital Disclosure (HCD). The data was analyzed using correlations and regression analysis. Most of the Sri Lankan Listed companies disclosed ICD in text, sentences, pictures, tables and graphs in line with the Global Reporting Initiative (GRI) guidelines in their annual reports. ICD was measured by a disclosure index score. The independent variables comprised various forms of audit committee characteristics: audit committee size, frequency of audit committee meetings and audit committee independence. The study confirms that the size of the audit committee and audit committee meetings are important attributes to explain ICD in Sri Lanka. However, the study found a negative significant relationship between ICD and audit committee independence. Keywords: audit committee independence, audit committee meeting, audit committee size, intellectual capital disclosure

scholarly journals Interest Rate Spread and the Efficacy of Commercial Banks’ Loans and Advances in Nigeria

2020 ◽  
Vol 6 (3) ◽  
pp. 753-763
Author(s):  
Udeme Efanga ◽  
Ihemeje, J. C ◽  
Yamta H. A ◽  
Birawada Keyadi
Keyword(s):  
Interest Rate ◽  
Commercial Banks ◽  
Goodness Of Fit ◽  
Time Series Data ◽  
Unit Root Test ◽  
Series Data ◽  
Correlation Test ◽  
Distributed Lag ◽  
Interest Rate Spread ◽  
The Impact

Abstract: The main objective of this study is to analyze the impact of interest rate spread on the efficacy of commercial banks’ lending in Nigeria. Data were obtained from secondary sources; Central Bank of Nigeria Statistical bulletin of 2018 and International Monetary Fund, International Financial Statistics and data files. Unit root test on the time series data displayed a combination of 1(0) and 1(1) variables, the Autoregressive Distributed Lag (ARDL) Model was employed for data estimation. Several diagnostic tests such as auto-correlation test, Ramsey stability test, serial correlation test and test for heteroscedasticity were also carried out and they all confirmed the goodness of fit and validity of the model employed. Findings reveal that: interest rate spread impacted positively and significantly on commercial banks’ loans and advances in Nigeria. The study therefore concludes that interest rate spread impacted commercial banks’ loans and advances in Nigeria positively across the period covered by this study. The study recommend that commercial banks in Nigeria should maintain their current interest rate spread strategy, since it is working well for them and helping them realize a high demand for their loans and advances in Nigeria.

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