International Journal of Academic Research in Accounting, Finance and Management Sciences

Online ISSN: 2225-8329

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Publisher: Human Resources Management Academic Research Society
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The Evaluation Subsequent to the Recognition of Tangible Fixed Assets in Public Institutions – Revaluation Method

Author(s):

Cristina Otilia TENOVICI


Abstract
| Pages: 5-14
The option for an accounting policy is determined by the need to provide an accurate image of the financial position and performance in the institution. Thus, for the subsequent evaluation of tangible fixed assets, a public institution should choose the optimal accounting policy, that is either the cost-based pattern or the revaluation method, so that it can provide relevant, prudent and complete data in all significant aspects by means of its financial reports.

Dividend Policy and Price Volatility. Empirical Evidence from Jordan

Author(s):

Imad Zeyad RAMADAN


Abstract
| Pages: 15-22
The aim of this paper is to investigate the influence of the dividend policy on the share price volatility for the Jordanian industrial firms. All the 77 Jordanian industrial firms listed at Amman Stock Exchange for twelve years from 2000 to 2011 have been selected. Descriptive analysis, correlation analysis and a cross-sectional time series multiple least square regression method have been used to present data analysis, test hypotheses, and achieve the objective of the study. The experiential results showed significant negative effect of the two components of the dividend policy D_Y and D_P, on the share price volatility, indicating that as the Jordanian industrial firms increase their dividend yield and/or dividend payout, the stock prices tend to stability, as the price volatility fall, and thus, the share price risks fall. Moreover, the results conclude that the dividend policy has an impact on the price volatility, and that the managers of the Jordanian industrial firms have the ability to affect their firm’s share price by adapting dividend policy that suits their target investors. Moreover, the study suggests that duration effect theory and signaling theory are relevant in determining the share price volatility in the Jordanian equity market.

The Evaluation Subsequent to the Recognition of Fixed Tangible Assets for Public Institutions – Method Based on Cost

Author(s):

 Cristina Otilia TENOVICI


Abstract
| Pages: 23-31
As far as the public domain is concerned, the necessity for decreasing the differences between national and international accounting standards generated the need for an accounting harmonization. The purpose of this harmonization is to achieve the comparability of information from public institutions, in other words, to decrease the differences between countries regarding the evaluation and recordings in accounting, regarding the evaluation of patrimony, of the achievements and financial position. The preference for a specific accounting policy is determined by the need to illustrate an accurate financial situation and performance. Therefore, it is necessary to select an optimal accounting policy for the evaluation of fixed tangible assets as well, a policy that provides the relevant, prudent and complete information under all significant aspects through the means of financial situations.

Effect of Macroeconomic Factors on Stock Prices in Ghana: A Vector Error Correction Model Approach

Author(s):

Kwame MIREKU, Kwaku SARKODIE, Kwasi POKU


Abstract
| Pages: 32-43
This study examines the effect of macroeconomic variables on stock prices in Ghana. Analysis was done using monthly data from 1991.4 to 2010.8. This study employed cointegration test and vector error correction models (VECM) to examine both long-run and short-run dynamic relationships between the stock market index and the macroeconomic variables. Generalized impulse function(IRF) and forecast error variance decomposition (FEVD) were used to detect the effect of shocks in the macroeconomic factors on complete time path of stock prices and vice versa. The time series properties of the data were, first, analyzed using the Augmented Dickey-Fuller (ADF) and Phillips-Perron tests. The empirical results derived indicate that all the variables were stationary after their first differencing. The paper established that there is cointegration between macroeconomic variables and Stock prices in Ghana indicating long run relationship. The above long term relation indicates that Interest Rate (TB) and Exchange Rate (XR) have a negative effect on Stock Prices whiles Inflation (CPI) showed a positive effect on Stock Prices (DSI). Results of Impulse Response Function (IRF) and Forecast Error Variance Decomposition (FEVD) indicate that the macroeconomic variables identified a low significant influence on share price movements in Ghana.

Statement of Cash Flows - Concrete Aspect of the Convergence of Global Accounting in the Context of the Paradigm of new Economy

Author(s):

Gheorghe LEPĂDATU


Abstract
| Pages: 44-49
Statement of cash flows presents useful information about changing the company’s financial position, allowing assessing the enterprise’s ability to generate future cash flows and cash equivalents in the operating, investing and financing activities and their appropriate use. Treasury forecasts are intended to contribute to financial security and enterprise profitability by reducing financial costs. Treasury of an economic entity can be considered its strong point. The manner in which they manage money and financial flows, the final outcome will depend on the respective entity. Treasury is also an essential and main restriction of the financial management of the enterprise. Treasury embodies the results of operations and how to achieve financial balance of compliance. Not always an entity that ends year with benefits has positive cash (cash at bank and in availability). And this, because the gap between the recording and accounting of revenue and expenditure receipts and payments as they fall due, that gap can be decisive for the fate of the enterprise. This is a major requirement of the accrual. Therefore, an efficient management of the economic entity comprises both the asset management flows (revenues/expenses) and cash management, i.e. the flows of receipts and payments. The statistical evidence shows that most of the failures are due to weaknesses in treasury management.

Investigating the Relationship between Knowledge Management Processes and Innovation Levels: Managers and Experts of Software Design Companies of Isfahan Province

Author(s):

Reza ANSARI, Sayyed Mohsen ALLAMEH, Ali ASADI, Mehri Asadi VASFI, Alireza HAROONI


Abstract
| Pages: 50-59
The purpose of this paper is to study the relationship between the knowledge management processes and innovation levels among the managers and experts of software design companies of Isfahan Province. Standard evaluating questionnaire of Daroach’s innovation and knowledge management which was based on Likret scale (from 1-very low to 5_very high) has been used to measure the studied variables. To evaluate its reliability, the Cronbach’s Alpha coefficient has been applied. The population included the managers and experts of software design companies of Isfahan Province numbering 390 people from which a sample size of 77 people has been yielded using Cochran’s formula. Considering the sample size, the questionnaire has been distributed by random among the 77 people of managers and experts of the software design companies of Isfahan Province. The results have been analyzed using the SPSSwin18 software. The Pearson’s correlation test has been used to test the hypotheses. The results indicating that among the processes of knowledge, there is not a significant relationship between the knowledge acquisition and Knowledge dissemination and not also between the Knowledge dissemination and responsiveness to knowledge, but there is a direct and significant relationship between the knowledge acquisition and Responsiveness to knowledge. However there is a direct and significant relationship between the knowledge acquisition, Responsiveness to knowledge and innovation but there is no significant relationship between the Knowledge dissemination and innovation. In addition, the relationship between the processes of knowledge management and innovation levels has been studied one –onone. The resulted the analysis indicated that there is a direct and significant relationship between the knowledge acquisition and all the levels of innovation except the Change level in productions to reduce the costs and on the other hand there is no significant relationship between the knowledge dissemination and all the levels of innovation.

Corporate Governance and Audit Activity

Author(s):

Gheorghe LEPA‚DATU


Abstract
| Pages: 60-65
Transparency of information, indispensable for competitiveness in the market is an efficient operation of corporate governance systems, especially control systems. The issue of governance should be seen as a fundamental pillar of fraud against the pressures to induce frauds, due to lack of transparency of information flow. In all models of corporate governance, external regulation covers a primary role in ensuring effective controls, but it remains the responsibility of the entities to adopt a virtuous mechanism under the profile of internal controls. Corporate governance is closely linked to the entity’s management and its structures, knowing the fact that this concept covers important issues in the area of social responsibility and ethical business practices. Corporate governance includes elements such as transparency and financial audit, internal audit, having a close relationship with financial reporting and financial disclosure required by internal and external users. Corporate governance is an attempt to stop the spectacular failures of the private sector and to regain confidence in business. Our research concluded that these failures were the root of evil in the internal control system defective and low strategic level (corporative one) of the management. Improving corporate governance must be improved simultaneously with the application of International Accounting Standards and international reporting.

Optimal Prices and Inventories Decisions on Returns Policy with Practical Examples Thorough a Stackelberg Game

Author(s):

Kuo-Hsien WANG, Yu-Je LEE, Che-Tsung TUNG


Abstract
| Pages: 66-77
This study explores a Stackelberg game that consists of a manufacturer who is a leader manufacturing newsvendor-type products, and two retailers who are two followers selling the products in a stochastic demand market that is divided into two various prices sub-markets allowing demand leakage from a high-priced market to a low-priced market. The objective of the game is that the manufacturer offers a returns policy contract in an effort that not only to maximize its expected profit by determining wholesale price and buy-back price, but also to improve the two retailers’ expected profits by determining their prices and order sizes. We develop a simple solution procedure to the case of uniformly distributed demand, and thereby conduct a string of examples incorporating with the factors of demand leakage rate, consumers’ price-sensitivity and demand variability. Many significant contributions of this study include: the chain should give up some sales opportunity in high price-sensitive markets and then offset back from low price-sensitive ones; the two retailers jointly bear the entire risk of demand uncertainty; and the returns policy contract indeed outperforms a price-only contract although it is not the Pareto improvement to low-priced market segment.

The Degree of Reporting of the Environmental Information by the Economic Entities in Romania

Author(s):

Victor MUNTEANU,Geanina-Sorina STA‚NESCU,Ileana-Sorina BOCA RAKOS


Abstract
| Pages: 78-83
Through this scientific paper, the authors aim to highlight the importance of environmental reporting for the economic entities in Romania. Considering the stage of the researches undertaken by the specialized literature up to the recent realizations of different specialists on environmental reporting by the economic entities from different activity domains, the authors of this paper demonstrate the importance of the elaboration and of the publication of the information concerning the environment, by means of the environment reports that permit a general perspective on the activity of the economic entities, on the shortcomings and disturbances appeared during the activity and on the opportunity of taking the best corrective measures in order to attain the goals established through the corporate strategy. Environmental reporting - an important communication tool that can assure a greater transparency and a better engagement with the stakeholders - is part of the sustainable and voluntary reporting that seems to be guided by the pressures of the market [1]. Following the study undertaken on a national level, we have noticed that so far there is no regulation to oblige the economic entities in Romania to provide the information users with separate environmental reports or specific information concerning the environmental impact, so that the commitment of the entity to the environmental information users remains an option, and not an obligation, for the corporate leadership. The paper ends with the authors’ conclusions concerning the enlargement of the framework of successful implementation of the environmental reports in the economic entities of Romania.

Empirical Analysis of Enterprise Financial Sustainable Development Based on the Structural Equation. Examples of Automobile Listed Company in China

Author(s):

Yang LIU, Xungang ZHENG, Ling TANG


Abstract
| Pages: 84-91
Based on the sustainable development model of Van Horne extended dynamic equilibrium and the structural equation model, this paper uses the signed rank test of Wilcoxon to judge whether the automobile manufacturing enterprises achieve sustainable development or not. Furthermore, it tests the data reliability and validity dependent on the coefficient of Cronbach’s É‘ and principal component analysis. Finally, it utilizes the structural equation to explore the reasons that cause unsustainable development. The results show that the listed company failed to realize sustainable development, 56.46% appear excessive growth and the remaining are insufficient. Besides, the sequence reasons leading to the unsustainable development of are as follows: the profit ability, operation ability, growth ability and debt paying ability.

Managing Talent in the Tourism and Hospitality Sector: A Conceptual View Point

Author(s):

Jennifer Chishamiso NZONZO, Tsitsi CHIPFUVA


Abstract
| Pages: 92-97
This paper provides a conceptual analysis of managing talent in the tourism and hospitality sector. The sector, which encompasses the leisure and business travel industry, is a vital sector to many African national economies. Furthermore, due to the highly service orientation nature of this industry lately, strategic importance has been placed on ensuring that employees with the appropriate skills and knowledge are effectively recruited and retained. Resultantly, actions such as the modernization of tourism training systems, more versatile working methods, flexible working hours and the leverage of existing employees’ skills and competencies are key to this industry’s success. It is against this construct that this paper attempts to evaluate the extent to which talent management strategies adopted in the industry contribute to organizational effectiveness. A critical analysis of avalailable print and online materials was undertaken. The findings indicate two main themes emerge from the research; firstly, a positive correlation exists between talent management strategies adopted and the creation of global competitiveness; secondly, institutional culture has an impact on the adoption of strategic planning which in turn, has an impact on talent management. The implication of this study is that it will enable policy makers and the relevant stakeholders to come up with various ideologies, perspectives and interventions that enhance talent management. Finally, this paper concludes by offering new insights to the discourse of talent management in the tourism and hospitality industry.

Effect of Intellectual Capital on Firm Performance

Author(s):

EMADZADEH, Nadia AFZALI, Asiya BAGHERI, Mahboobe RAHIMPOOR, Fatemeh EZADI, Mojgan RAHMANI,


Abstract
| Pages: 98-103
In the era of knowledge-based economy, organizations tend to use two distinct sources for making profit and value creation. These resources are material or tangible and intangible resources or intellectual resources. On the other hand, can be said to be the intellectual capital than physical capital, Could explain financial performance indicator. The purpose of this paper is to investigate the effects of intellectual capital on performance indicators. Variables were based on data collected. To calculate the performance of the corporate, balanced scorecard approach was used. A total of 89 questionnaires were distributed among the employees and operation administrators of 4 factories. Spss18 and Amos 20 were used for data analysis. The results showed that intellectual capital have positive and significant impact on financial performance, customer, business processes, and learning and growth.

Evaluation of Educational Supervisors’ Opinions about Families’ Contribution to Education Costs

Author(s):

Hüseyin YOLCU -- Aynur B. BOSTANCI


Abstract
| Pages: 110-124
This paper which aims to display the opinions of educational supervisors about families’ contribution to education costs is a descriptive study of survey models. In the study, a qualitative research design was used. A workgroup consisting 14 educational supervisors working in Uşak and Kastamonu cities was formed according to simple random sampling method which is among the purposeful sampling techniques. Data for the study was collected using semi-structured interview techniques. Results of the study can be explained like this. A large number of the educational supervisors chosen for the study define ‘the right of education’ as a normative definition. According to educational supervisors, deficient public sources, schools’ having no special budgets and families’ attaching importance to their children’s education requires a family contribution for education costs. Also, a significant number of the educational supervisors think it is necessary for families to contribute to education costs in terms of more well-qualified education, acceptance of schools and equal sharing of the costs. Moreover, among the educational supervisors, there is some thinking that families’ contribution to educational costs can bring about a social justice problem by increasing the inequality of opportunity and capability among the different segments of the society. Educational supervisors can face variety of complaints or demands about the topic which are expressed by families and teachers in the process of school supervision.

A Study of the Influencing Technological and Technical Factors Successful Implementation of Business Intelligence System in Internet Service Providers Companies

Author(s):

Nazanin KHOJASTEH, Reza ANSARI,Hosein Rezaee Dolat ABADI


Abstract
| Pages: 125-132
The present research has been done to consider the technological and technical factors affected on the implementation of business intelligence system in Shuttle Company which presents Internet services. The type of this research is from descriptive-quantitative one. In order to determine the technological and technical factors, the literature of the subject has been considered and the effective factors have been extracted through the studying of Shuttle Company. These factors were classified based on experts’ ideas and distributed in the form of questionnaire. The descriptive statistics were used to analyze the descriptive data and analytic factor analysis was done by means of SPSS and LISREL software for the purpose of determining the factors validity (ranges of research) and examining the hypotheses. At the end, all of the components of technological and technical factors were confirmed as effective factors on the implementation of business intelligence system. These components include Extensible technical framework (hardware and software), System and data quality, Appropriate technology/tools, Integration between Business intelligence systems with other systems.