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International Journal of Governance and Financial Intermediation
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Hybrid journal (It can contain Open Access articles)
ISSN (Print) 2399-5025 - ISSN (Online) 2399-5033
Published by Inderscience Publishers

[451 journals]

Females on the board of directors and corporate tax aggressiveness in
Indonesia: an empirical analysis
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  Authors: Nurul Herawati, Rahmawati Rahmawati, Dian Indudewi, Marita Kusuma Wardani, Barkah Susanto
  Pages: 105 - 119
  Abstract: This study examines the impact of female's presence on the board of directors on corporate tax aggressiveness. The sample is manufacturing companies and trade, service, and investment companies listed on the Indonesia Stock Exchange (ISE) over the 2013-2015 periods. Listed companies on the ISE follow a two-tier board structure consisting of the board of directors and the board of commissioners. This study focuses on the presence of female on the board of directors as the management functions of the company. Based on a sample of 360 company-year observations, our multiple regression results show that a negative and statistically significant association between the presence of female on the board of directors and tax aggressiveness. This result supports previous empirical evidence conducted in Western countries. This finding suggests that the presence of female directors on the board of directors is effective in their tax reporting compliance.
  Keywords: gender; female; board of directors; executive board; managerial board; two-tier system; corporate governance; corporate tax aggressiveness; effective tax rates; ETR; tax compliance; emerging market
  Citation: International Journal of Governance and Financial Intermediation, Vol. 1, No. 2 (2021) pp. 105 - 119
  PubDate: 2021-08-04T23:20:50-05:00
  DOI: 10.1504/IJGFI.2021.116831
  Issue No: Vol. 1, No. 2 (2021)
Market reaction to stock dividend announcement
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  Authors: Sulaeman Rahman Nidar, Muhammad Maraya
  Pages: 120 - 126
  Abstract: The purpose of this study is to determine the return of the reaction of the announcement of stock dividend. This study uses event study approach, where the observation of the abnormal return during the event period, which is seven days prior to the announcement of up to seven days after the announcement. The method used is quantitative method. Hypothesis testing is used to see the significance of abnormal return values occurring in the event by comparing t-arithmetic with t-table and test independent sample of t-test to determine differences in the value of abnormal return of some subsample. The results of this study indicate that: 1) no positive abnormal return significantly to the announcement of stock dividend around the event period; 2) no average abnormal return is greater in companies issuing initial stock dividend compared to companies that issue stock dividend subsequent; 3) no average abnormal return is greater in companies with issuing high stock dividend ratio compared to the company that issued the low stock dividend ratio.
  Keywords: stock dividend; initial stock dividend; stock dividend subsequent; high stock dividend; low stock dividend; abnormal return
  Citation: International Journal of Governance and Financial Intermediation, Vol. 1, No. 2 (2021) pp. 120 - 126
  PubDate: 2021-08-04T23:20:50-05:00
  DOI: 10.1504/IJGFI.2021.116832
  Issue No: Vol. 1, No. 2 (2021)
The effect of global financial crisis on banking stocks: evidence from
Indonesia Stocks Exchange
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  Authors: Erna Listyaningsih, Nur Baiti
  Pages: 127 - 138
  Abstract: An interesting aspect of the public information arrival effect that has not been covered is the impact of global financial crisis (GFC) on banking stocks in Indonesia. The aim of this research is to investigate market reaction of banking stocks at the Indonesia Stocks Exchange (IDX) towards economic events on GFC regarding the events of the bankruptcy of Lehman Brothers on 15 September 2008 and the closing of IDX on 8 October 2008. In this research, the researchers conduct event study to explore the reaction of stock market regarding of these events on banking stocks. The results of this study find that there was a weak impact of the Lehman Brothers collapse towards banking stocks, however, there was a pretty strong impact of the IDX closure towards banking stocks at IDX.
  Keywords: global financial crisis; GFC; event study; banking stocks; Indonesia Stocks Exchange; IDX; Indonesia
  Citation: International Journal of Governance and Financial Intermediation, Vol. 1, No. 2 (2021) pp. 127 - 138
  PubDate: 2021-08-04T23:20:50-05:00
  DOI: 10.1504/IJGFI.2021.116833
  Issue No: Vol. 1, No. 2 (2021)
Banking governance and credit risk: evidence from Tunisian banks
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  Authors: Khaoula Aliani, Gleya Souilah, Imen Mhamid
  Pages: 139 - 154
  Abstract: The purpose of this research is to study the impact of corporate governance on credit risk of Tunisian banks. We are particularly interested in the board of directors as an internal mechanism of corporate governance. From a sample of 11 Tunisian listed banks, during the period 2008 to 2013, our empirical results reveal that the high level of capitalisation, the board and the bank size have positive impact on the banks' credit risk. However, the duality of the CEO as well as the foreign directors' influence negatively affects the credit risk of Tunisian banks. Furthermore, the presence of directors representing the state tends to increase the credit risk. Board diversity, independent directors and audit quality have no significant effects on the credit risk.
  Keywords: credit risk; corporate governance; board of directors; Tunisian banks
  Citation: International Journal of Governance and Financial Intermediation, Vol. 1, No. 2 (2021) pp. 139 - 154
  PubDate: 2021-08-04T23:20:50-05:00
  DOI: 10.1504/IJGFI.2021.116834
  Issue No: Vol. 1, No. 2 (2021)
Options approach to external assurance in non-financial reporting
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  Authors: Khaoula Aliani, Gleya Souilah, Imen Mhamid
  Pages: 155 - 166
  Abstract: Using a financial options methodological framework based on stochastic processes and partial differential equations, this research proposes a model for valuing non-financial reporting without external assurance, based on the assumption of the existence of communication flaws in the disclosure process. A model for valuing non-financial reporting with external assurance is also formulated, based on the assumption of external assurance representing an additional expenditure aimed at mitigating those communication flaws. An expression for the value added by external assurance is then isolated through comparison. This expression can be interpreted as an external assurance-related premium reward or as an external assurance-related premium risk. Implications for researchers and practitioners are discussed.
  Keywords: financial options theory; partial differential equations; external assurance; non-financial reporting; premium risk; premium reward
  Citation: International Journal of Governance and Financial Intermediation, Vol. 1, No. 2 (2021) pp. 155 - 166
  PubDate: 2021-08-04T23:20:50-05:00
  DOI: 10.1504/IJGFI.2021.116843
  Issue No: Vol. 1, No. 2 (2021)