International Journal of Accounting & Finance Review 2020-09-17T10:22:48+00:00 Editor-in-Chief Open Journal Systems International Journal of Accounting & Finance Review (IJAFR),Accounting & Finance Review,Accounting, Finance Why Non-accelerated Filers Voluntarily Comply with SOX 404b? 2020-08-24T10:21:55+00:00 Zhenfeng Liu Yun Cheng Ruonan Liu <p>This paper investigates the managers’ incentives to voluntarily comply with SOX 404b and the determinants of firms who voluntarily disclose SOX 404b internal control over financial reporting assessment. We find that voluntary SOX 404b reporting non-accelerated filers are more likely to receive effective internal control over financial reporting opinion than accelerated filers and large accelerated filers. We find that voluntary SOX 404b reporting non-accelerated filers are more likely to hire Big Four as independent auditors than non-SOX 404b reporting non-accelerated filers. We also predict and found substantially sufficient cases where non-accelerated filers which used to be, or ex-post became accelerated filers or large accelerated filers, and non-accelerated filers with parent companies complying with SOX 404b are motivated to voluntarily comply with SOX 404b.</p> 2020-08-15T15:30:29+00:00 ##submission.copyrightStatement## An Empirical Study into Comparing Conventional and Islamic Banks in the UAE 2020-08-24T10:21:55+00:00 Manoj Kapur <p>Banking system constitutes the fundamental pillar of every economy. Banks acts financial intermediaries between sectors that have excess funds and those that are in deficit. Islamic banks operate under Sharia principles of risk sharing and interest prohibition as contrasted with conventional banks that buy capital to pool funds and sell capital to generate interest income or profit. This paper applies banks’ internal factors related to their balance sheet and income statement and using a total of 23 financial ratios pertaining to the internal factors, it attempts to compare and contrast between conventional and Islamic banks. This research explains the structure, operation and management of banks in the UAE coupled with the functioning of Islamic banks. The paper also aims to determine the profitable and efficient banks among the chosen sample. The sample includes 12 banks, equally distributed between Islamic and conventional banks using data between the periods of 2014 - 2018. The sample is broadly categorized based on profitability ratio, efficiency ratio, asset indicator ratio and risk ratios. Correlation and Regression analysis is used to determine a substantial ratio analysis between conventional and Islamic banks. Results from the study reveal indicators of financial characteristics such as profitability ratios, efficiency ratios, asset quality indicators and risk/ risk management ratios. The results clarify that Islamic banks are operationally efficient and profitable because of risks sharing and greater dependency on deposits capital. However, on an overall basis, the ratios indicate conventional banks have higher scores than their counterparts.</p> <p><strong>JEL Classification Codes:</strong> F37.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> 2020-08-17T22:55:17+00:00 ##submission.copyrightStatement## Socio-Economic Instance of Ethnic Group in Bangladesh: A Case Study of Dhaka City 2020-09-02T12:49:00+00:00 Tahrima Haque Beg Sunjida Khan Taskin Afrina Md Shakib Hossain Nurul Mohammad Zayed <p>In Bangladesh, an ethnic community such as barber, cobbler, washerman, porter become victims of severe discrimination despite the constitutional declaration that protects citizen's equal rights regardless of their race, caste, religion. This study focuses on various minor and untouchable groups in our society. Due to various reasons like lack of education, extreme poverty, lack of proper healthy atmosphere, etc. they could not organize themselves to establish their rights. Consequently, they remain in the darkness of the community. They also remain out of development efforts, untouchable and downtrodden. A cross-sectional survey was carried out from 12<sup>th</sup> February to 27<sup>th</sup> February 2020 in different areas in the capital city. The purpose of the study is to determine the lifestyle, family background, education level, and socioeconomic impact to access credit among these groups of people.</p> 2020-09-02T12:42:37+00:00 ##submission.copyrightStatement## Stock Market Efficiency in the Time of COVID-19: Evidence from Industry Stock Returns 2020-09-02T19:46:16+00:00 Vaibhav Lalwani Vedprakash Vasantrao Meshram <p>Using industry portfolios as test assets and a battery of statistical tests, we study if the informational efficiency of stock prices has declined after the COVID-19 crisis began. The results suggest that the predictability of stock returns in some industries has increased during the COVID-19 period. Markets appear to have become less informationally efficient during the COVID-19 crisis.</p> <p><strong>JEL Classification Code:</strong> C58, G01, G10, G14.</p> 2020-09-02T19:39:10+00:00 ##submission.copyrightStatement## A Panel Examination of IFRS Adoption and Financial Statement Quality: Evidence from Selected Firms in Ghana 2020-09-16T15:31:51+00:00 Richard Fosu Amankwa John Kweku Mensah Mawutor Eric Boachie Yiadom <p>This study examined the effect of IFRS adoption on the quality of financial statements of selected firms on the Ghana Stock Exchange. The study used the extent of management practices as a metric for financial statement quality. The audited annual reports of the selected firms from the GSE were analyzed using a panel regression model over the period 2001-2006 and 2007-2014. The study finds the adoption of IFRS to be significantly and negatively affect earnings management practices and, thus, improves financial statement quality. On the extent of earnings management practices, the study finds a decrease in the post-adoption era as opposed to the pre-adoption era, signifying an improvement in accounting quality. The panel regression results show that adopting IFRS significantly decreases the extent of earnings management.</p> <p>&nbsp;</p> 2020-09-16T15:29:27+00:00 ##submission.copyrightStatement## Modelling and Forecasting Commodities Prices in Emerging Market: Lessons from the Preceding Super Cycle 2020-09-17T10:22:48+00:00 Sharon K Jose Girish G P <p>Futures trading is one of the oldest methods of trading and investing in commodities. History of commodities futures trading in India is interrupted, flabbergasted and disrupted unlike commodities future trading in Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOT), or London Metal Exchange (LME) where futures trading has been taking place uninterrupted for over a century. Prohibiting of futures trading in India in a large part of the last few decades has ensured research on commodities trading in India is still at an embryonic stage. In this study, we model Commodity prices of select Agriculture (Barley, Jeera, Sugar, and Pepper), Metal (Aluminium, Copper, Lead, and Gold), and Energy commodities (Crude Oil) in Indian Commodity Markets. Data during the Super-cycle period of commodities in India from 2003 to 2013 is used for the study and modeled using the state-space specification. The results of the study suggest that state-space specification and Kalman filter provides preeminent estimates for modeling and forecasting Indian commodity prices during the Super-cycle period. The results of the study provide crucial insights for pension funds, alternate investment funds, hedge funds and sovereign wealth funds worldwide to strategize better in the next expected super-cycle period of commodities post Covid-19 with burgeoning demand from developing economies of Asia and Africa.&nbsp;&nbsp;</p> 2020-09-17T10:19:04+00:00 ##submission.copyrightStatement##