scholarly journals THE EFFECT OF ADOPTION OF IFRS BASED ACCOUNTING STANDARDS: INDIAN EVIDENCES OF ENHANCED VALUE RELEVANCE AND UNIFORMITY

This study examines how relevant the accounting information was for the value of the firm prior to 2016, when India had the indigenous Accounting Standards, and after 2016 when India adopted new accounting standards known as IND-AS, which were the convergence standards mostly in line with IFRS. As an extension to this, we have performed another round of analysis to observe whether the enhanced value relevance is symmetrically distributed among big and small firms. We have used the price regression model of (Barth et al, 2008) on 1770 firm-years data of Indian firms and applied panel data analysis. We have found 66% adjusted R2 under OLS method for the period prior to 2016 and 78% for the post-change period. Further to this, big and small firms, in the new regime, have shown 84% and 89% adjusted R2. From the results, we have found substantial improvement in value relevance of accounting information in the IND-AS period. We have also found that the enhanced value relevance is uniformly distributed across firms irrespective of firm-size.

2019 ◽  
Vol 17 (155) ◽  
pp. 441-451
Author(s):  
Ioan-Bogdan ROBU ◽  
◽  
Ionut Viorel HERGHILIGIU ◽  
Bogdan BUDEANU ◽  
Sorin CHIRU ◽  
...  

2006 ◽  
Vol 11 (1) ◽  
pp. 63-80 ◽  
Author(s):  
Syed Tahir Hijazi ◽  
Yasir Bin Tariq

This paper attempts to determine the capital structure of listed firms in the cement industry of Pakistan. The study finds that a specific industry’s capital structure exhibits unique attributes which are usually not apparent in the combined analysis of many sectors as done by Shah & Hijazi (2005). The study took 16 of 22 firms in the cement sector, listed at the Karachi Stock Exchange for the period 1997-2001 and analyzed the data by using pooled regression in a panel data analysis. Following the model developed by Rajan & Zingle (1995) it has chosen four independent variables i.e. firm size (measured by natural log of sales), tangibility of assets, profitability and growth and further analyzed the effects on leverage. The results, except for firm size, were found to be highly significant.


2019 ◽  
Vol 5 (2) ◽  
pp. 139-157
Author(s):  
Ilhamdi Ilhamdi ◽  
Neng Evi Silvia Arianti

This study aims to analyze the factors that affect the disclosure of intellectual capital, namely board diversity and firm size. The samples used were secondary data from Annual Report of Islamic Banks that registered in the BI during the observation period 2011-2015. Sampels were taken with a purposive sampling method, and who meet the criteria for sample selection. Content analysis was employed in this study to determine the Intelectual Capital Disclosure (ICD). The study used panel data analysis to investigate the influence of board diversity and firm size on ICD. Content analysis show that the ICD indeks of Islamic banks has increased over period of study. Panel data analysis indicate that board diversity and firm size simultaneously affect the ICD indeks. Partially, firm size has positive significant effect to ICD. Board diversity namely women directors show negative significant effect to ICD. However, board diversity namely independent directors is not influence to ICD


2021 ◽  
Vol 16 (2) ◽  
pp. 289-313
Author(s):  
Lingesiya Kengatharan ◽  

The study aimed to emphasize the determinants of dividend policy in Sri Lankan firms. This study was conducted with 80 non - financial companies which were listed on Colombo Stock Exchange (CSE). The empirical research was focused on panel data analysis, and data was collected from annual reports for a five year period from 2013 to 2017. This study explored selected factors that influence dividend policy, including sales growth, leverage, firm size, profitability, EPS, liquidity, and risk. The panel data analysis employed pooled OLS, fixed - effect, and random - effect models. Based on the analysis, the fixed - effect model was thought to be the best fit for studying the factors that affect dividend policy. According to the outcome of fixed-effect model, among the seven input variables considered in this study, profitability, EPS, and risk were negatively linked to dividend policy. However, no significant relationship was found between dividend policy and sales growth, leverage, firm size, or liquidity. The findings contribute to the understanding that three parameters namely: profitability, EPS, and risk have been recognized as factors affecting dividend payouts in CSE’s listed companies. Hence, policymakers will be able to concentrate on the factors that influence shareholder wealth maximization. Keywords: profitability, EPS, risk, dividend payout


Author(s):  
Hoi Le Quoc ◽  
Hoi Chu Minh

Financial development could exert various effects on income distribution of a country. By employing Generalized Method of Moment, this paper aims at examining the impacts of credit market depth, one of most used financial development barometers, on income inequality in Vietnam. The empirical findings show that expanding credit market in the country could lead to higher income inequality. We have not found evidence that supports the hypothesis of an inverted U-shaped relation ever introduced by Greenwood and Jovanovich, although this hypothesis may still hold in a sense that Vietnam has not reached to the inflection point to generate such a curve alike.


Author(s):  
Nurdan Gürkan ◽  
Ahmet Ferda Çakmak

The concept of entrepreneurial orientation, which emerges with the development of strategic management, refers to entrepreneurship orientations of businesses. The businesses need resources in other words organizational slack in order to develop their entrepreneurial trends. The organizational slack consists of three slack type. These slack types are available slack, recoverable slack and potential slack. The purpose of this study is to examine whether organizational slack in the businesses has an effect on entrepreneurial orientation. The relationship between organizational slack and entrepreneurial orientation was investigated through 20 companies that were traded in Borsa Istanbul Corporate Governance Index for 2010-2014 period using panel data analysis method. The results of the study indicate the existence of a statistically significant relationship between and the available slack and the recoverable slack with the entrepreneurial orientation in the businesses. According to findings; there was no statistically significant relationship between potential slack and entrepreneurial orientation.


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