Journal of Finance and Accounting

Volume 3, Issue 5, September 2015

  • Analysis for Efficient Stock Index Market

    Byung Woo Kim

    Issue: Volume 3, Issue 5, September 2015
    Pages: 103-116
    Received: 6 July 2015
    Accepted: 10 July 2015
    Published: 17 July 2015
    Abstract: According to efficient market hypothesis, all the available information about future spot prices is incorporated into KOSPI200 stock index future contract prices immediately. In this paper, we test the hypothesis by an econometric approach developed by Johansen (2001), etc. Using only past data, we can consider stock market as efficient. (Weak-form... Show More
  • Economic Value Added (EVA) Disclosure Practices of Sri Lankan Listed Companies

    P. M. C. Thilakerathne

    Issue: Volume 3, Issue 5, September 2015
    Pages: 117-127
    Received: 5 July 2015
    Accepted: 17 July 2015
    Published: 28 July 2015
    Abstract: Transparency, disclosures and information sharing with stakeholders, command a considerable degree of value to the accompanying financial statements of any corporate or business enterprise. Investors and stakeholders are increasingly looking at the performance of companies which they have invested their hard earned funds. To meet such expectations,... Show More
  • Research on Audit Quality and Information Content of Internal Control Audit Reports

    Wang Meiying

    Issue: Volume 3, Issue 5, September 2015
    Pages: 128-131
    Received: 17 July 2015
    Accepted: 31 July 2015
    Published: 12 August 2015
    Abstract: This paper examines investors’ reaction to internal control audit reports by concerning audit quality, we find that companies disclosing unqualified internal control audit reports issued by Big 4 firms have higher earnings response coefficient. So the internal control audit reports can transmit information relevant to investment decisions, but its ... Show More
  • Effect of Leverage on Performance of Non-financial Firms Listed at the Nairobi Securities Exchange

    Mukaria Henry Kimathi, Mugenda Nebat Galo, Akenga Grace Melissa

    Issue: Volume 3, Issue 5, September 2015
    Pages: 132-139
    Received: 27 July 2015
    Accepted: 6 August 2015
    Published: 14 August 2015
    Abstract: Managers strive to maximise shareholder wealth by making rational financing decisions regarding optimal capital structure which would minimise its cost of capital. In attempt to magnify the return to shareholders, managers employ the use of debt. When excessive debt financing is employed by a firm, it increases the cost of financing and the financi... Show More
  • The Effects of Green Accounting in the Society

    Hossein Yarahmadi, Ali Bohloli

    Issue: Volume 3, Issue 5, September 2015
    Pages: 140-149
    Received: 20 July 2015
    Accepted: 1 August 2015
    Published: 19 August 2015
    Abstract: In today's global economy, organizations are increasingly called upon to demonstrate sound business management that includes concern for economic, social and environmental issues. The challenges created by global competition make it imperative for enterprises to continually rationalize and improve all resources and processes. Separation of responsi... Show More
  • Telstra Financial Analysis Report Fy2009 – Fy2013

    Wei Xin

    Issue: Volume 3, Issue 5, September 2015
    Pages: 150-158
    Received: 6 August 2015
    Accepted: 12 August 2015
    Published: 25 August 2015
    Abstract: Telstra, short for Telstra Corporation Limited, is avery successful company in Australia. Based on their financial report published these years, we can analyse the feature and how it performed these years. In the article we used horizontal analysis and ration analysis.Based on the external factors, business environment, the financial analysis and t... Show More
  • Budgets and Budgetary Control as a Management Tool for Ghana Metropolitan Assemblies

    Edmund Kyei, Collins Owusu Kwaning, Donkor Francis

    Issue: Volume 3, Issue 5, September 2015
    Pages: 159-163
    Received: 19 August 2015
    Accepted: 27 August 2015
    Published: 12 September 2015
    Abstract: The study examined the budgeting and budgetary control as a management tool in Ghanaian Metropolitan Assemblies with the view to find out the importance attached by metropolitan, municipal and district assemblies in Ghana to how budgets are prepared and implemented, benefits and problems associated with budgeting and the extent at which budget vari... Show More
  • Information Sharing Regulation Introduction and Bank Industry Performance: A Pre and Post Analyses from Ghana

    Baah Aye Kusi, Kwadjo Ansah-Adu, Isaac Owusu-Dankwa

    Issue: Volume 3, Issue 5, September 2015
    Pages: 164-171
    Received: 28 August 2015
    Accepted: 9 September 2015
    Published: 18 September 2015
    Abstract: This study assessed credit growth, asset quality and profitability in the banking industry of Ghana during pre and post information sharing eras. The study employed industry level financial ratios to derive means, standard deviations and pearson correlations. The study further employed t-test to test for significant difference in bank performance d... Show More