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Journal of Accounting in Emerging Economies
Number of Followers: 9  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 2042-1168
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  • Why do firms invest in accounts receivable' An empirical investigation
           of the Malaysian manufacturing sector
    • Pages: 166 - 184
      Abstract: Journal of Accounting in Emerging Economies, Volume 8, Issue 2, Page 166-184, May 2018.
      Purpose The purpose of this paper is to investigate the factors that influence Malaysian manufacturing sector investment in accounts receivable (AR), an asset seen by many as one of the riskiest in any company’s balance sheet. Design/methodology/approach The authors test several theories, related to AR, using a cross-section of 262 listed manufacturing firms over a period of five years (2007-2011). Both fixed and random effect approaches are adopted to deal with potential heterogeneity across firms. Findings The results show that investment in AR in Malaysia are influenced by firm size, short-term finance, sales growth and collateral. Profit, liquidity and gross margins have no role in affecting the decision of trade credit granting to customers. The results are inconsistent with previous studies. Size and short-term finance have a negative, rather than positive, impact. Liquidity and gross margins have no, rather than positive, effect. While profit and sales growth are predicted to feature a U-shaped relationship with investment in AR, the former is insignificant while the latter is strictly increasing. The only factor found to be consistent with prior studies is collateral. Research limitations/implications The results have two principal implications. First, policy makers should not take a holistic view of the trade credit market. Given that policy makers aim to improve liquidity and trade, they should design policies that are not only country specific but also sector specific. As is clear from our results, what holds for other countries or sectors may not necessarily be true for the Malaysian manufacturing sector. This has important implications for policy makers in emerging economies. Practical implications Investment in AR, in the Malaysian manufacturing sector, is impacted by many of the factors implied by either theory or empirical evidence. However, the main finding in this paper is that the Malaysian manufacturing sector is rather different. First, while liquidity and gross margin have been found to have a positive and significant effect on AR helping hand theory in prior studies, the results show that these two factors play no role in influencing the level of AR in the Malaysian manufacturing sector. Social implications Unlike the experience in developed economies, firms in our sample that have access to short-term finance are less likely to grant trade credit. This suggests that the helping hand theory does not hold as far as the Malaysian manufacturing firms are concerned: firm that have better access to short-term finance in Malaysia do not use trade credit to pass on the benefit to their customers by granting them trade credit. Originality/value It is unclear why firms invest in AR given the high risks of uncollectability as well as tedious, time-consuming and costly legal process for debt recovery compared to firms from more developed economies. This paper examines the reasons business-to-business lending, through AR, is widespread in Malaysia and investigates the factors that affect this decision despite the risk involved. To our knowledge, this is the first study to date that looks at the factors that influence AR level in the Malaysian manufacturing sector.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-04-11T10:13:01Z
      DOI: 10.1108/JAEE-01-2017-0005
       
  • The effect of political connections on companies’ performance and
           value
    • Pages: 185 - 204
      Abstract: Journal of Accounting in Emerging Economies, Volume 8, Issue 2, Page 185-204, May 2018.
      Purpose The purpose of this paper is to examine the effect of companies’ political connections (PCs) on their financial and stock performance, as well as on their market values. Design/methodology/approach A sample of non-financial companies listed on the Tunis Stock Exchange (TSE) between 2012 and 2014 was used. The accounting and financial data of these companies were obtained from their financial statements, whereas data on PCs of their officers and directors were collected manually from various sources. Correlation and multivariate regression analyses were performed to test the hypothesis of this research. Findings The results showed that PCs improve companies’ performance and value. These results could be explained, on the one hand, by the benefits and favors that companies can get from their political ties and, on the other hand, by investors’ tendency to invest in politically connected companies to benefit from these advantages. Research limitations/implications The limited number of non-financial companies listed on the TSE is a limit for this research. Practical implications The results show that investment in companies which are politically inter-connected may be beneficial for investors, and especially for small minority shareholders. Social implications The results confirm that political links are essential for business success in emerging economies, such as Tunisia. However, the positive link between politics and business might highlight the issue of corruption after the revolution. Originality/value To the best of the authors’ knowledge, this is the first study to examine the effect of PCs on the performance and value of Tunisian companies after the 2011 revolution.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-04-12T09:09:51Z
      DOI: 10.1108/JAEE-12-2016-0105
       
  • Gender diversity on boards and forward-looking information disclosure:
           evidence from Jordan
    • Pages: 205 - 222
      Abstract: Journal of Accounting in Emerging Economies, Volume 8, Issue 2, Page 205-222, May 2018.
      Purpose The purpose of this paper is to provide empirical evidence of the relationship between female representation on the board and forward-looking information disclosures (FLIDs). Design/methodology/approach The study uses the content analysis to analyze the narrative evidence from the annual financial reports of non-financial Jordanian companies listed on the Amman Stock Exchange. The final sample consists of 1,206 firm-year observations during the period 2008-2013. Findings The study provides evidence that gender diversity on boards positively affects the level of FLIDs. Further to this, the study reveals that family firms disclose more information than non-family firms. Practical implications Results of this study could be beneficial for a number of users of financial information such as, regulators, investors, auditors and lenders. The users might consider the findings of this study when they are using the company’s financial information. Consequently, users of this information could be better assisted to make right decisions. Originality/value This study contributes to the literature by identifying the role of gender on the level of FLID, particularly on family and non-family, a relatively little researched area.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-04-11T10:22:20Z
      DOI: 10.1108/JAEE-05-2016-0039
       
  • An empirical analysis of the characteristics of savings and credit
           cooperatives participating in the reporting excellence awards in Kenya
    • Pages: 223 - 243
      Abstract: Journal of Accounting in Emerging Economies, Volume 8, Issue 2, Page 223-243, May 2018.
      Purpose In Kenya, an award for reporting excellence is presented annually to the entities in the public and private sector. The purpose of this paper is to examine the characteristics of savings and credit cooperatives (SACCOs) that apply for the annual reporting excellence award in Kenya. Design/methodology/approach The study employs correlation and probit regression analyses to establish the factors which explain the decision by SACCOs to participate in the Financial Reporting (FIRE) excellence award. The study utilizes data consisting of 1,272 firm-year observations for 212 SACCOs, over the period 2008-2013. Findings Consistent with institutional and legitimacy theories, the results demonstrate that structural and governance variables are significant and positively associated with the decision to participate in the annual FIRE awards by SACCOs in Kenya. Similarly, larger SACCOs and those that have adopted best cooperative governance practices are more likely to participate in the annual FIRE awards. The results also reveal that SACCOs audited by the Big 4 audit firms are more likely to participate in the annual FIRE awards. Research limitations/implications The study focuses on the factors explaining the decision to participate in the annual reporting excellence awards by organizations in a specific sector. Further studies can adopt a multi-sectoral approach to investigate the same phenomenon. Practical implications The findings highlight the importance of cooperative governance and resources in explaining why SACCOs choose to participate in the FIRE awards. Originality/value The study adds onto the dearth of literature on the aspect under focus. Globally, very few studies have examined the drivers of the decision to participate in reporting excellence awards by organizations.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-03-28T08:09:51Z
      DOI: 10.1108/JAEE-03-2016-0023
       
  • Human resources disclosures by African and Caribbean companies
    • Pages: 244 - 278
      Abstract: Journal of Accounting in Emerging Economies, Volume 8, Issue 2, Page 244-278, May 2018.
      Purpose The purpose of this paper is to examine the extent to which economically significant Caribbean and African firms provide human resources disclosures (HRD), and the factors related to their disclosure practices. It is motivated by the dearth of studies of HRD among firms in developing countries. Design/methodology/approach All companies with common shares listed on the main tier of the major stock exchanges in each country examined on December 31, 2013 as well as selected state enterprises were included in the study if their annual report, sustainability report or integrated report was available online. HRD was measured using an unweighted 174-item disclosure index. The research hypotheses were examined using multiple-regression analysis. Findings The level of HRD in the Caribbean and Southern Africa was relatively low (M=33.7 percent, SD=25.3 percent). The amount of HRD was related to organizational culture, firm size, industry affiliation, national governance environment and foreign influence. Geographical region, gender diversity and director independence were not statistically related to the amount of HRD. Practical implications Caribbean and African governments may need to implement incentives for economically significant companies to participate in targeted human resources (HR) development initiatives, to provide more comprehensive HR disclosures and incorporate HR consideration in their strategic decision making. Originality/value This is one of the first studies to compare the amount and determinants of HRD by economically significant Caribbean and African companies.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-04-11T10:28:22Z
      DOI: 10.1108/JAEE-07-2016-0065
       
  • The extent of segmental reporting and its value relevance: cross-country
           evidence
    • Pages: 279 - 299
      Abstract: Journal of Accounting in Emerging Economies, Volume 8, Issue 2, Page 279-299, May 2018.
      Purpose The purpose of this paper is to examine the extent of segmental reporting disclosure and its value relevance to a sample of Qatari and Jordanian listed companies following the implementation review of the International Financial Reporting Standard (IFRS) 8. This was the first standard to be subjected to a post-implementation review. Annual reports are initially analyzed to investigate the level of segmental information that was published by companies in these two countries. Design/methodology/approach Using the Ohlson (1995) model, the study employs regression analysis to test the hypotheses relating to the value relevance of the segmental disclosures uncovered. In addition, one-way ANOVA and Kruskal-Wallis tests are used to investigate any variation in segmental reporting among sectors. Findings The findings indicate that the amount of segmental information disclosed by the sample firms differs across sectors. Moreover, the segmental information provided (including the number of segments and the amounts of disclosure) is value relevant and can explain the variations in firms’ share prices. Practical implications The results of the current investigation have implications for policy makers, including the International Accounting Standards Board, as well as for accounting regulators in Jordan and Qatar. They suggest that the segmental disclosures supplied under IFRS 8 are value relevant for equity prices in a developing country context. Compliance with IFRS 8 should thus be monitored to ensure that all firms provide the segmental disclosures that they are meant to supply under the terms of the standard. Originality/value This paper is one of the few to provide empirical evidence on the role of segmental reporting following the post-implementation review that was conducted for IFRS 8.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-04-11T10:30:42Z
      DOI: 10.1108/JAEE-05-2017-0061
       
  • Researching accounting
    • Abstract: Journal of Accounting in Emerging Economies, Ahead of Print.
      Purpose The purpose of this paper is to engage, cooperate and communicate for a more visible form of research accounting in early research settings, especially by those in non-native English speaking and developing nations. Design/methodology/approach The paper highlights four early research settings: in writing a research undertaking, in gaining acceptance of a research undertaking, in situating the self in the research context and in the renegotiation of the research context. Findings The paper finds that although organisations offer a forum for a discussion of socialising form of accounting, organisational communication inverts many of the norms of academic etiquettes. It interrupts, takes statements out of context and challenges the academic claim of accounting as a language of business. Practical implications The paper alerts corporations, managers, supervisors and researchers that communicating accounting is distinct from communication skills, though both emphasise that communications comprise behaviours which can be learned. Inexperienced researchers are not the only potential readers of the paper. The study is an attempt to provide accounting researchers with a resource for making informed decisions concerning the communication type they face and by placing their research agenda within the appropriate accounting characterisations. Originality/value The paper broadens the view of what constitutes knowledge of accounting and the knowledge about accounting and the ways to attain them. The key topics explored in the study provide “hands-on” methodological issues that could be adapted for use on similar programmes.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-07-11T09:26:30Z
      DOI: 10.1108/JAEE-04-2017-0042
       
  • External auditor type, discretionary accruals and investors’
           reactions
    • Abstract: Journal of Accounting in Emerging Economies, Ahead of Print.
      Purpose The purpose of this paper is to investigate, in an Egyptian context, the external auditor type (Big 4 vs local) implications on reporting quality proxied by discretionary accruals (DA) and also examine whether auditor type impacts the market’s pricing of DA, where pricing is considered a proxy for the perceived DA quality. Design/methodology/approach The sample period is 2012–2015, that is meant to be post the Egyptian revolution financial crisis; all Egyptian stock exchange (EGX) listed firms (except banks and financial institutions) are considered. DA are estimated using modified Dichev and Dechow’s (2002) model (McNicholas, 2002). Ordinary least squares regression tests are used to investigate the external auditor type implications on DA level and the related EGX investors’ pricing. Findings The findings generally show the external auditor’s minimal role in mitigating DA. Moreover, the findings reflect the EGX investors’ negligence and/or lack of confidence in regards to DA and external auditor type factors in stock pricing. Practical implications The paper findings highlight to regulators the need for effective monitoring of audit firms earnings management mitigation performance to help reinforce investor confidence in financial reporting quality. Originality/value This paper is the first that investigates the external auditor monitoring mechanism implications on investors’ perceptions of earnings quality in Egypt. The paper findings would provide important contributions, particularly post the Egyptian revolution crisis, where the EGX market is trying to restore the investors’ confidence.
      Citation: Journal of Accounting in Emerging Economies
      PubDate: 2018-07-11T09:16:09Z
      DOI: 10.1108/JAEE-10-2017-0098
       
 
 
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