scholarly journals The quality of information on financial liquidity – empirical evidence from public companies quoted onWarsaw Stock Exchange

2016 ◽  
Vol 80 ◽  
pp. 115-122
Author(s):  
Wojciech Hasik
Keyword(s):  
Empirical Evidence ◽  
Stock Exchange ◽  
Quality Of Information ◽  
Public Companies ◽  
Financial Liquidity

scholarly journals Non-financial corporations in Lebanon: Who governs? “The governance myopia”

2016 ◽  
Vol 14 (1) ◽  
pp. 84-95 ◽  
Author(s):  
Mireille Chidiac El Hajj ◽  
Richard Abou Moussa ◽  
Maha Akiki ◽  
Anthony Sassine
Keyword(s):  
Capital Market ◽  
Stock Exchange ◽  
Board Members ◽  
Exchange Market ◽  
Quality Of Information ◽  
Face To Face ◽  
Governance Practices ◽  
First Time

The purpose of this paper is to study governance practices in non-financial enterprises in Lebanon, and it is the first time that such enterprises are studied in the Lebanese context. Only three non-financial institutions are listed in the Beirut Stock Exchange (BSE), which constitute the whole population of this research. Built on Principles, Governance is based on transparency and on accurate, relevant, and timely information in order to support the Board members’ decision-making (OECD, 2015). Balanced between Jensen and Meckling’s (1976) agency theory and Donaldson and Davis’ (1991) Stewardship theory, the results of our Qualitative study showed that the main problems faced by the enterprises are not in the quality of information but rather in its selection and filtering, which opens doors to “Governance Myopia”. Face-to-face interviews showed that the primary conflict in our case is between the non-financial enterprises and the BSE, since the BSE is controlled by the enterprises and is not controlling them. The main reason of such practices come from the fear of the BSE of losing a potential position in the MENA Exchange Market, doubled with the fear of losing potential investors. All these reasons weigh heavily on the Administrators of the BSE in Lebanon, forcing them to choose the “Laisser passer” way. Referring to the soft Law when dealing with the companies, the BSE is playing the double role of a marketer and a controller, thus not willing to impose restrictions. A need for “harder laws”, for “Privatization” of the BSE, and a call to the Capital Market Authority (CMA) to put more restrictions on Corporations should be observed.

scholarly journals Tunneling Related Party Lending Phenomenon: Empirical Study on Family Business in Indonesia

2021 ◽  
Vol 11 (1) ◽  
pp. 39-49
Author(s):  
Ign.Novie Endi Nugroho ◽  
Rahmawati Rahmawati ◽  
Bandi Bandi ◽  
Agung Nur Probohudono
Keyword(s):  
Empirical Study ◽  
Empirical Evidence ◽  
Family Business ◽  
Internal Control ◽  
Control Mechanism ◽  
Stock Exchange ◽  
Public Companies ◽  
Internal Auditors ◽  
Pyramid Structure ◽  
The Family

This study examines the effect of family end control with a pyramid structure, RPTs disclosure, internal auditors and independent commissioners on related loan tunneling in Indonesia. This study used a sample of 258 public companies listed on the Indonesia Stock Exchange from 2016-2018. This study provides empirical evidence that the final controller of the family with a pyramid structure is proven to practice tunneling through related loans. The next finding of this study is that the level of disclosure of related transactions can reduce the potential for the practice of tunneling related loans. Another important finding is the failure of the internal control mechanism by internal auditors and independent commissioners which is not able to reduce the potential for related loan tunneling practices in family companies in Indonesia.

scholarly journals The Effect of Joint Audit on Audit Quality: Empirical Evidence from Companies Listed On the Egyptian Stock Exchange

2015 ◽  
Vol 5 (2) ◽  
pp. 195 ◽  
Author(s):  
Mahmoud Ghanem El Assy
Keyword(s):  
Empirical Evidence ◽  
Multiple Regression ◽  
Audit Quality ◽  
Stock Exchange ◽  
Regression Analyses ◽  
Big 4 ◽  
Significant Difference ◽  
Independent Auditors ◽  
Egyptian Stock Exchange

The purpose of this paper is to investigate the effect of joint audit on earnings conservatism, our proxy for audit quality, of companies listed on the Egyptian stock exchange, by examining whether companies audited by two independent auditors are more conservative than companies audited by a single auditor. In addition, we investigate whether this relationship is affected by the type of joint audit regimes (i.e., voluntary versus mandatory), and the mix of joint auditors appointed (i.e., two big 4 auditors, or two non-big 4 auditors, or one Big 4 auditor paired with one non-big 4 auditor). To test our hypotheses, we use a sample of 32 companies listed on the Egyptian stock exchange during the period 2009 through 2013. The results of our multiple regression analyses show that companies audited by joint auditors are more conservative than companies audited by single auditors. However, we find no significant difference in levels of earnings conservatism between companies audited by joint auditors mandatorily and companies audited by joint auditors voluntarily. We also find no significant difference in levels of earnings conservatism between companies audited by two big4 auditors and companies audited by two non-big4 auditors, or by one big4 auditor paired with one non-big4 auditor.

scholarly journals NON-DISCLOSURE OF FINANCIAL STATEMENTS OF PUBLIC COMPANIES AS AN ECONOMIC OFFENSE IN THE REPUBLIC OF SERBIA

2021 ◽  
Vol 25 (3) ◽  
Author(s):  
Marija Kostić ◽  
Vule M. Mizdraković ◽  
Vladimir Mitić
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
Legal Framework ◽  
Timely Manner ◽  
Public Companies ◽  
Official Gazette ◽  
Time Period ◽  
The Republic

The successful functioning and development of the capital market, along with the possibility of attracting new investments is largely contingent on the quality of financial reporting and the availability of the statements themselves. In view of the fact that the new Law on Accounting of the Republic of Serbia came into force, the question arises to what extent public companies respect legally prescribed deadlines for submitting their statements and by doing so do not commit an economic offense. The primary goal of this paper is to draw attention to the importance of a standardized and efficient legal framework that obliges public companies to publish financial statements in a timely manner. A survey was conducted that encompassed 416 public companies listed on the Belgrade Stock Exchange and their corresponding financialstatements for 2018, as the reporting period. We tried to establish whether the sampled companies disclosed their statements within the deadline prescribed by the Law on Accounting (Law on Accounting, Official Gazette of RS, 62/2013, 30/2018). The results show that most companies disclosed financial statements during the period when they are still considered useful to potential and existing investors. Nevertheless, practice showed that there was room for improvement, and this was achieved with the adoption of the new Law on Accounting, which took effect on January 1, 2020. It integrates the deadline for compiling and disclosing statements, which in fact shortens the time period during which information on the companies’ operations should be made available to the general public and potential investors.

scholarly journals CFO’s Working as The Board Secretary Concurrently and Corporate Disclosure Quality: Based on Empirical Evidence of Listed Companies in Shenzhen Stock Exchange

2020 ◽  
Vol 5 (1) ◽  
pp. 84-104
Author(s):  
Xiang Rui ◽  
Qian Xing
Keyword(s):  
Empirical Evidence ◽  
Government Intervention ◽  
Stock Exchange ◽  
Listed Companies ◽  
Corporate Disclosure ◽  
Disclosure Quality ◽  
High Degree ◽  
The Impact ◽  
The Relationship

This paper took the selected data listed companies in Shenzhen Stock Exchange in 2008-2015 as samples to study the relationship between the CFO’s working as the Board Secretary concurrently and corporate disclosure quality, and also to examine the impact of different government intervention levels and nature of property rights. The results indicate that the CFO’s doubling as the Board Secretary can distinctly improve the quality of corporate disclosure in listed companies; the CFO’s holding concurrently the post of the Board Secretary can improve noticeably the disclosure quality of listed companies in regions with a high degree of government intervention; the CFO’s also serving as the Board Secretary can improve the disclosure quality of non-state-owned listed companies. Moreover, this paper presents a reasonable explanation for the phenomenon that increasingly more CFOs are serving as the Board Secretaries simultaneously via empirical study. Lastly, conclusions of this study can provide empirical evidence for the appointment of the Board Secretary in listed companies.

scholarly journals Reaksi Pasar atas Publikasi Laporan Keuangan Interim Diaudit Studi Empiris pada Perusahaan-Perusahaan yang Mempublik di Bursa Efek Indonesia

2021 ◽  
Vol 13 (2) ◽  
pp. 141-155
Author(s):  
Irawan Irawan ◽  
Arif Makhsun
Keyword(s):  
Stock Exchange ◽  
Accounting Information ◽  
Investment Decisions ◽  
Financial Statements ◽  
The Other ◽  
Quality Of Information ◽  
Financial Reports ◽  
Market Reactions ◽  
Financial Report

This study was conducted on interim financial statements of companies included in the calculation of the KOMPAS 100 index on the Indonesia Stock Exchange (IDX) with the consideration that the companies' shares included in the KOMPAS 100 index on average per year control more than 75% in volume trade and market capitalization on the Indonesia Stock Exchange (IDX) so that it is considered the most widely traded stock. Hence, it is expected that many interested parties (especially active investors) of the interim financial report and use accounting information from the company in its investment decisions. The study was conducted on quarterly financial statements, mid-year financial reports and quarterly financial statements.The results of this study indicate that the market responds widely to the announcement of the Interim Financial Report I and Interim Financial Report II published by the issuer. On the other hand the market does not respond broadly to the announcement of the Interim Financial Report III published by the issuer.The involvement of auditors in interim financial reports in the form of reviews and complete audits does not have an impact on improving the quality of information on interim financial statements received by investors. This is demonstrated by the absence of differences in market reactions to the publication of interim financial statements.Keywords: Interim Financial Reports, Market Reactions

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI DISCRETIONARY LOAN LOSS PROVISIONS PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2017 ◽  
Vol 21 (3) ◽  
pp. 434
Author(s):  
Sofia Prima Dewi ◽  
Eveline Eveline
Keyword(s):  
Data Analysis ◽  
Earnings Management ◽  
Empirical Evidence ◽  
Firm Size ◽  
Voluntary Disclosure ◽  
Stock Exchange ◽  
External Financing ◽  
Loan Loss ◽  
Loan Loss Provisions

The purpose of this study was to obtain empirical evidence about the effect of earnings before tax and provisions, the quality of voluntary disclosure, needs for external financing, other alternatives to earnings management, and firm size to discretionary loan loss provisions in banking companies listed in Indonesia Stock Exchange. The samples used were 26 banking companies listed in Indonesia Stock Exchange during 2011-2013. Data analysis was performed with the aid of a software program Statistical Product and Service Solutions (SPSS) for Windows version 20. The results showed that earnings before tax and provisions have an influence on discretionary loan loss provisions, while the quality of voluntary disclosure, needs for external financing, other alternatives to earnings management, and firm size does not have any influence on discretionary loan loss provisions.

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