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

17-22

Authors: Sunday C. OKARO, Gloria O. OKAFOR

The purpose of this study is to find out the perception of professional accountants in Nigeria on how some cultural factors affect audit quality. A survey research design was adopted for the study. A questionnaire survey of 108 professional accountants was undertaken. Descriptive statistics were used to analyze the 50 usable responses received. The one sample t-test was used to confirm the significance of the responses. Findings include the fact that some Nigerian accountants receive bribes in the course of duty thus compromising audit quality. Also low litigation culture, slow and tardy judicial process and corruption in the wider Nigerian Society affected adversely audit quality. Our findings have implication for the regulatory authorities as they strive to rein in the monster of audit failures and thus improve audit quality in Nigeria.

32-41

Authors: Mark Kemboi KANDA, Mike Amuhaya IRAVO

The purpose of this study was to determine factors affecting efficiency of supply chain of pharmaceutical products (drugs) to Public Health facilities in 47 Counties of Kenya. The study precisely sought to establish whether: procurement processes, ICT infrastructure, distribution channels and competency of medical staff in supply chain, are factors affecting efficiency of supply chain of pharmaceutical products to Health Centres in Kenya. A population size of 120 employees was targeted in 15 health Centres from which a sample size of 60 was chosen out of the 66 questionnaires distributed, 60 filled and returned. This study used descriptive research design and the data was collected mainly from primary sources such as questionnaires, observation, and interviews. The analytical framework draws upon William’s theory of the mechanism of governance and insights from new institutional economics of institutional changes. The information used in this study is based on the author’s more than 50 questionnaires issued with a variety of stakeholders, including government agencies, health centres and electronic biding platforms providers. The data was analyzed using both qualitative and quantitative techniques. In quantitative analysis pie charts, graphs and tables will be used to present the study findings. This research focuses mostly on proper medical supply chain efficiency to enhance good flow of medical products to foster primary health services in the Country. Technology is key aspect in this study the researcher ought to understand which level of technology is adopted in medical supply chain and how efficient it can be when they adopt this technology and training of the staff towards adaptation of this new technology for efficient service delivery.

53-58

Authors: Shehriyar KHALIL, Liaqat ALI

The study is conducted to research the RMP and procedures pursued by conventional banks functioning in Peshawar region. In the study the risk management (RM) is elected as a dependent variable, whereas Risk assessment (RAs), risk identification (RI), risks monitoring (RMn), risk analysis (RA) and RMP (RMP) are taken independent variables. Data is collected through questionnaires on five Likert Scale. Total number of questionnaire distributed were 120, out of which 102 questionnaires were received with positive response from the banks. As per the regression, we found from the results that risk assessment and analysis, risk analysis and RMP have significant effects, and risk identification and risk monitoring have insignificant effects on RMP. The paper`s findings are limited to RMP`s of conventional bank operating in Peshawar region. This study will of value to those who are interested conventional banking industry.

66-85

Authors: Ala’ Hussein ALBAWWAT, Mohamad Yazis Ali BASAH

This study examines the impact of shariah approved companies on the relationship between corporate governance structure and voluntary disclosure of half-yearly reports in Jordan, focusing on variables that affect voluntary disclosure of the ASE Jordanian listed companies. The dynamic panel system GMM estimation was employed on the data from 72 selected ASE listed companies for the period of 2009-2013, and the results show that a substantial level of voluntary disclosure is demonstrated in high level corporate governance awareness and implementation in Jordan. Specifically, the factors of board compensation, number of shareholders, government ownership and Shariah approved company significantly impact voluntary disclosure. In addition, this study shown that the effect imparted by the presence of audit committee, board size, and block-holder ownership on the level of voluntary disclosure appear to be greater among the Shariah approved companies. Aside from that, voluntary disclosure in the half-yearly reports has potential impact on market capitalization. The findings may provide some implications for research regarding the voluntary disclosure and Shariah approved companies of financial reporting in Jordan.

93-99

Authors: Alina-Georgiana SOLOMON, Sorinel CĂPUŞNEANU

The topic reflects an analysis of Economic and Monetary Union convergence in tax-budgetary system of Romania and Bulgaria. The importance of this theme is underlined by the objective on the integration of the two European Union member states in the Eurozone. In this context, attention was focused on the aspects of the state of completion of budgetary and fiscal convergence. In its realization it is required a strictly coordination of macroeconomic policies, emphasizing structural reforms and ensuring a stable economic environment. Therefore, the main elements used in the analysis of convergence scenarios are budgetary position of Romania and Bulgaria, the evolution of the annual plan for revenue collection and compliance with targets set in the plan year in government spending.

116-126

Authors: Jamal KOUHIAN, Abbas Alimoradi SHARIFABADI

Many of the changes in the value and risk of the companies at the capital market are affected by different and diverse data which are presented to the market by the companies. This paper attempts to examine the risk reaction to the publication of the forecasted profit by the management. The statistics population for this study consists of all companies listed in Tehran Stock Exchange whose related data were available for a period of six years, from 2007 to 2012. This is an implicational and quantitative study intending to test the proposed hypotheses by employing the Multiple Regression method. The research hypotheses have been developed based on the existence of the relationships among three dimensions of the forecasted profit including precision, validity and frequency whit two proxies of risk naming systematic and non-systematic risk. The research results indicated an inverse relationship between validity and frequency of forecasting profits whit non-systematic risk. However no significant relationship could be observed between all dimensions of forecasting profits by the management and the systematic risk.

136-142

Authors: Ali AKBARI, Fardin MEHRABIAN

The aim of this investigation is determining the impression and risk of SMES in developing financial constant in accepted companies in Tehran money exchange. This is a kind of library and analytic-scientific investigation. In this investigation the financial information of 104 accepted companies in Tehran money exchange during 1387 to 1392 were determined. (624 companies every year) for analyzing the results soft wares such as Minitab 16 – Eviews7 and Spss20 were used. The results of the research showed that there is a meaning full and straight relation between SMES and added value. Also there is a meaning ful and reversed relation between risk of SMES and intrinsic value.

151-159

Authors: Elahe Seyed KAVOUSI

In this research after reviewing research literature and analysis of different models in order to transfer technology the phase-gate model was selected that is a process including different gates and phases. Based on this model, the interview framework was prepared for approving model and required date were collected using study of documents and semi-structured interview. After performing interviews and collecting data In this stage, it was determined that in the petroleum industry the phase-gate model is a process including 6 decision making phases and gates in three studied technology transfer projects. Research findings showed that analysis of technology transfer process projects in three studied cases as sample can be suitable solution in order to help managers in study of technology transfer process damages especially in the beginning and planning stage.

165-171

Authors: Odunayo M. OLAREWAJU, Oluwafeyisayo K. ADEYEMI

The aim of this paper is to examine the existence and direction of causality between liquidity and profitability of deposit money banks in Nigeria. Fifteen quoted banks out of the existing nineteen banks were selected for the study. They are; Guarantee Trust bank, Zenith bank, Skye bank, Wema bank, Sterling bank, First City Monument bank, United Bank for Africa, Eco bank, First bank, Access bank, Diamond bank, Unity bank, Fidelity bank, Union bank and IBTC bank. Pairwise Granga Causality test was carried out to determine the presence and direction of causality between banks’ liquidity and profitability. From the finding of this study, at 5% and 10% level of significance, it was revealed that the F-statistics corresponding to the null hypotheses of no causal relationship (both unidirectional and bidirectional) between LODEP (a proxy for liquidity) and ROE (profitability measure) for banks like Guaranty trust bank, Zenith bank, Sterling bank, Diamond bank, IBTC, Unity bank, UBA, Fidelity bank, Wema bank, Union bank, and Eco bank, are too low and as such there is no enough evidence for the rejection of the corresponding null hypotheses. Thus, the result revealed that there is no causal relationship (be it unidirectional or bidirectional) between liquidity and probability of Guaranty trust bank, Zenith bank, Sterling bank, Diamond bank, IBTC, Unity bank, UBA, Fidelity bank, Wema bank, Union bank, and Eco bank. The result also shows that there is a trace of unidirectional causality relationship running from liquidity to profitability for banks like Skye bank, First bank, Access bank and FCMB. Based on the findings and conclusions, the study recommend that the apex bank (Central Bank of Nigeria) should ensure close supervision and monitoring of deposit money banks’ strength and level of liquidity in an attempt to stabilize and strengthen the financial sector of the economy.

185-194

Authors: Kazeem O. SALAAM

We perform detail analysis and review of capital regulation under Basel II including standardised and internal rating based approaches. We consider the parameters required for both approaches. Linkages between Basel II capital regulation and Procyclicality is established and we established the fact that even though procyclicality is inherent in banking sector, Basel II capital regulation has succeeded in exacerbating it particularly during the recent financial and economic crisis. We review the effects of procyclicality on the United Kingdom Bank lending decisions particularly during the economic crisis. This is compared with bank lending decisions pre crisis and post crisis period with a view to having holistic view of the effects. Our review covers main lending classifications in the UK. These include lending to businesses, secured lending to individuals and consumer lending. We conclude that Basel II capital regulation is not the genesis of procyclicality but one of the exacerbating factors. We assent to the fact that procyclicality genesis could be traced to failure of banks to efficiently allocate resources within the economy. Relevance of Basel II in improving risk management within banking sector is also emphasised.