Pub Date : 2018-08-31DOI: 10.22452/AJAP.VOL11NO1.1
Noor Adwa Sulaiman, F. Yasin, R. Muhamad
Research aim: This paper reviews the research literature and publications relevant to audit quality. The authors identify three main perspectives (academic research, professional and regulatory) related to audit quality that could add to our understanding of the concepts and factors affecting audit quality in practice. For each reviewed perspective, the authors present and summarise the key findings. Design/ Methodology/ Approach: This study reviews a total of 84 empirical studies and publications ranging from year 1980 to year 2016. Further, this paper links academic research to publications on the topic issued by professional practitioners and regulators. Research findings: Based on the analysis, the review reveals three main findings. First, the review identifies multifaceted concepts of audit quality and the various academic research approaches that have been carried out to assess audit quality. Second, audit quality in practice is not only affected by various internal factors within the accounting firms but is also influenced by various contextual factors in which the accounting firms operate. Third, much of the prior research employs an archival approach that potentially provides limited information about the effect of the contextual setting in actual audit practices, which is important to enhance our understanding of audit quality. Theoretical contribution/ Originality: It provides some guidance for future academic research related to audit quality. Practitioner/ Policy implication: The research and reports reviewed in this paper will be useful to researchers, audit practitioners, policymakers and others who are concerned with the quality of audit services to understand the various conceptions of audit quality and the important factors affecting audit quality in practice. Research limitation/ Implications: The analysis of the audit quality from the three main perspectives provided in this study paves the way for embarking on promising and relevant future research, which is needed to further substantiate and enrich the academic understanding on concepts and factors affecting audit quality. More research is needed to understand this issue better and to move towards a policy resolution. Keywords: Audit Quality, Auditing, Literature Review, Research Opportunities Type of manuscript: Literature review JEL Classification: M41, M42, M48, L84
{"title":"Perspectives of Audit Quality: An Analysis","authors":"Noor Adwa Sulaiman, F. Yasin, R. Muhamad","doi":"10.22452/AJAP.VOL11NO1.1","DOIUrl":"https://doi.org/10.22452/AJAP.VOL11NO1.1","url":null,"abstract":"Research aim: This paper reviews the research literature and publications relevant to audit quality. The authors identify three main perspectives (academic research, professional and regulatory) related to audit quality that could add to our understanding of the concepts and factors affecting audit quality in practice. For each reviewed perspective, the authors present and summarise the key findings. \u0000Design/ Methodology/ Approach: This study reviews a total of 84 empirical studies and publications ranging from year 1980 to year 2016. Further, this paper links academic research to publications on the topic issued by professional practitioners and regulators. \u0000Research findings: Based on the analysis, the review reveals three main findings. First, the review identifies multifaceted concepts of audit quality and the various academic research approaches that have been carried out to assess audit quality. Second, audit quality in practice is not only affected by various internal factors within the accounting firms but is also influenced by various contextual factors in which the accounting firms operate. Third, much of the prior research employs an archival approach that potentially provides limited information about the effect of the contextual setting in actual audit practices, which is important to enhance our understanding of audit quality. \u0000Theoretical contribution/ Originality: It provides some guidance for future academic research related to audit quality. \u0000Practitioner/ Policy implication: The research and reports reviewed in this paper will be useful to researchers, audit practitioners, policymakers and others who are concerned with the quality of audit services to understand the various conceptions of audit quality and the important factors affecting audit quality in practice. \u0000Research limitation/ Implications: The analysis of the audit quality from the three main perspectives provided in this study paves the way for embarking on promising and relevant future research, which is needed to further substantiate and enrich the academic understanding on concepts and factors affecting audit quality. More research is needed to understand this issue better and to move towards a policy resolution. \u0000Keywords: Audit Quality, Auditing, Literature Review, Research Opportunities \u0000Type of manuscript: Literature review \u0000JEL Classification: M41, M42, M48, L84","PeriodicalId":33532,"journal":{"name":"Asian Journal of Accounting Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78229656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-08-31DOI: 10.22452/AJAP.VOL11NO1.2
I. Manawadu, A. Azmi, M. Aslam
Research aim: The purpose of this study is to investigate the effect of foreign direct investment (FDI) on conditional accounting conservatism in South Asia. Design/ Methodology/ Approach: This study uses the model developed by Basu (1997), Ball and Shivakumar (2005), and Hamalainen and Martikainen (2015) to examine the relationship between FDI and conditional accounting conservatism. Accounting data were obtained from all public listed companies other than financial companies in India, Pakistan, Bangladesh, and Sri Lanka for 2006 through 2015. The ordinary least squares (OLS) method in panel regression was used. Research finding: The results indicate that a significant positive relationship exists between FDI and conditional accounting conservatism in South Asia as a whole, and the individual countries of India, Pakistan, and Bangladesh. However, FDI does not positively affect conditional accounting conservatism in Sri Lanka. Furthermore, emerging economies have more incremental conditional accounting conservatism on FDI than transitional economies. Theoretical contribution/ Originality: The model used in this study makes an important contribution to the literature, which was confirmed by sensitivity testing. The result was more sensitive for the FDI variable. Also, the study confirmed that more incremental conditional accounting conservatism can be seen when using real FDI than when using a dummy FDI. This study extends the South Asian literature on conditional accounting conservatism and fills a gap in the empirical studies on FDI and conditional accounting conservatism. Practitioner/ Policy implication: The results will be useful to policymakers and authoritative accounting bodies in the respective countries in South Asia to ensure the quality of financial reporting so as to facilitate FDI. Research limitation/ Implication: This study used the conditional accounting conservatism to measure accounting quality. However, other methods such as earnings management, value relevance etc. for measuring accounting quality could be used with FDI in future researches. Keywords: Accounting Quality, Foreign Investment, Emerging Economies, Conservatism Type of manuscript: Research paper JEL Classification: M41, F21, N40, M48
{"title":"Foreign Direct Investment and Conditional Accounting Conservatism in South Asia","authors":"I. Manawadu, A. Azmi, M. Aslam","doi":"10.22452/AJAP.VOL11NO1.2","DOIUrl":"https://doi.org/10.22452/AJAP.VOL11NO1.2","url":null,"abstract":"Research aim: The purpose of this study is to investigate the effect of foreign direct investment (FDI) on conditional accounting conservatism in South Asia. \u0000Design/ Methodology/ Approach: This study uses the model developed by Basu (1997), Ball and Shivakumar (2005), and Hamalainen and Martikainen (2015) to examine the relationship between FDI and conditional accounting conservatism. Accounting data were obtained from all public listed companies other than financial companies in India, Pakistan, Bangladesh, and Sri Lanka for 2006 through 2015. The ordinary least squares (OLS) method in panel regression was used. \u0000Research finding: The results indicate that a significant positive relationship exists between FDI and conditional accounting conservatism in South Asia as a whole, and the individual countries of India, Pakistan, and Bangladesh. However, FDI does not positively affect conditional accounting conservatism in Sri Lanka. Furthermore, emerging economies have more incremental conditional accounting conservatism on FDI than transitional economies. \u0000Theoretical contribution/ Originality: The model used in this study makes an important contribution to the literature, which was confirmed by sensitivity testing. The result was more sensitive for the FDI variable. Also, the study confirmed that more incremental conditional accounting conservatism can be seen when using real FDI than when using a dummy FDI. This study extends the South Asian literature on conditional accounting conservatism and fills a gap in the empirical studies on FDI and conditional accounting conservatism. \u0000Practitioner/ Policy implication: The results will be useful to policymakers and authoritative accounting bodies in the respective countries in South Asia to ensure the quality of financial reporting so as to facilitate FDI. \u0000Research limitation/ Implication: This study used the conditional accounting conservatism to measure accounting quality. However, other methods such as earnings management, value relevance etc. for measuring accounting quality could be used with FDI in future researches. \u0000Keywords: Accounting Quality, Foreign Investment, Emerging Economies, Conservatism \u0000Type of manuscript: Research paper \u0000JEL Classification: M41, F21, N40, M48","PeriodicalId":33532,"journal":{"name":"Asian Journal of Accounting Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79136598","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-08-31DOI: 10.22452/AJAP.VOL11NO1.3
D. Singh, G. Malik
Research aim: The purpose of this paper is to measure the performance of Indian public and private sector banks by estimating their technical efficiency scores and further to investigate the factors affecting technical efficiency of Indian banks. This paper also investigates the ownership effect on the technical efficiency of the banks. Design/ Methodology/ Approach: Data envelopment analysis (DEA), CCR model was used to estimate relative efficiency scores of 39 banks using annual data for the time period 2012 to 2016. Further Pooled regression model was used to examine the determinants of bank efficiency and one-way ANOVA to investigate the ownership effect on bank’s technical efficiency. Research finding: The results showed a significant difference between the efficiencies of the public and private sector banks. During the sample period the average efficiency score of Indian banks has been improving from 0.78 in 2012 to 0.81 in 2016. Further, the new private sector banks turned out to be more efficient than public and old private sector banks. The regression results show that profitability and staff productivity are the only significant variables affecting efficiency. Bank size and GDP are found to be insignificant at 5 per cent. Theoretical contribution/ Originality: The paper considers a much broader approach to investigating the technical efficiency of Indian banks. This is the first study that examines and compares the efficiency of Indian commercial into three bank categories; public sector banks, new private sector banks and old private sector banks. Practitioner/ Policy implication: The findings of this study are expected to provide useful insights to the Reserve Bank of India (RBI) for policy making, in general, for all the banks. RBI needs to closely monitor the working and performance of inefficient public sector banks in India. Indian government perhaps can consider to merge these inefficient banks in order to make them more competitive. Research limitation/ Implication: Future work could extend this study by working on efficiency and the degree of competition among Indian banks. There is also a scope of doing research on impact of service quality dimensions on technical efficiency of banks in India. Keywords: Commercial Banks, DEA, Indian Banking Sector, Regression, Technical Efficiency Type of article: Research paper JEL Classification: G21, C24
{"title":"Technical Efficiency and Its Determinants: A Panel Data Analysis of Indian Public and Private Sector Banks","authors":"D. Singh, G. Malik","doi":"10.22452/AJAP.VOL11NO1.3","DOIUrl":"https://doi.org/10.22452/AJAP.VOL11NO1.3","url":null,"abstract":"Research aim: The purpose of this paper is to measure the performance of Indian public and private sector banks by estimating their technical efficiency scores and further to investigate the factors affecting technical efficiency of Indian banks. This paper also investigates the ownership effect on the technical efficiency of the banks. \u0000Design/ Methodology/ Approach: Data envelopment analysis (DEA), CCR model was used to estimate relative efficiency scores of 39 banks using annual data for the time period 2012 to 2016. Further Pooled regression model was used to examine the determinants of bank efficiency and one-way ANOVA to investigate the ownership effect on bank’s technical efficiency. \u0000Research finding: The results showed a significant difference between the efficiencies of the public and private sector banks. During the sample period the average efficiency score of Indian banks has been improving from 0.78 in 2012 to 0.81 in 2016. Further, the new private sector banks turned out to be more efficient than public and old private sector banks. The regression results show that profitability and staff productivity are the only significant variables affecting efficiency. Bank size and GDP are found to be insignificant at 5 per cent. \u0000Theoretical contribution/ Originality: The paper considers a much broader approach to investigating the technical efficiency of Indian banks. This is the first study that examines and compares the efficiency of Indian commercial into three bank categories; public sector banks, new private sector banks and old private sector banks. \u0000Practitioner/ Policy implication: The findings of this study are expected to provide useful insights to the Reserve Bank of India (RBI) for policy making, in general, for all the banks. RBI needs to closely monitor the working and performance of inefficient public sector banks in India. Indian government perhaps can consider to merge these inefficient banks in order to make them more competitive. \u0000Research limitation/ Implication: Future work could extend this study by working on efficiency and the degree of competition among Indian banks. There is also a scope of doing research on impact of service quality dimensions on technical efficiency of banks in India. \u0000Keywords: Commercial Banks, DEA, Indian Banking Sector, Regression, Technical Efficiency \u0000Type of article: Research paper \u0000JEL Classification: G21, C24","PeriodicalId":33532,"journal":{"name":"Asian Journal of Accounting Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81323587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-08-31DOI: 10.22452/AJAP.VOL11NO1.4
M. Danrimi, Mazni Abdullah, E. Alfan
Research aim: The purpose of this study is to provide a conceptual model that guides in examining the capital market effects of IFRS adoption from the perspective of investors’ trading patterns, particularly those behaviors that tend to defy the validity of EMH, in this context; herding behavior. Design/ Methodology/ Approach: The study is conceptual in nature. It relies on a review of the prior academic literature on economic and informational consequences of IFRS adoption published in prominent academic journals. Research findings: The study finds that despite an enormous amount of research thus far, in this area, substantive empirical evidence on economic and informational consequences of IFRS adoption appears to be far from reach. So far, many questions surrounding the capital market effect of IFRS adoption are yet to be fully resolved. More specifically, it is noted that one of the relatively under-researched areas in the current literature is the nexus between IFRS and investors’ trading behaviors. Theoretical contribution/ Originality: To the researchers’ knowledge, this study is first to explicitly explore the nexus between IFRS and investors’ herding practices, while highlighting the role of the national economic culture. Practitioner/ Policy implication: The results of this study are expected to be of interest to academics, regulators, and policymakers in performing a cost-benefit analysis of this planetary set of reporting benchmark, and to the investing public and other market participants who trade based on market fundamentals, treating them as principal indicators for future market movements. Research limitation/ Implication: The study suggests the use of national economic culture to moderate the effect of IFRS on investors’ trading behavior. Nonetheless, this does not imply that there are no other significant factors or even more significant than culture but based on evidence documented in the prior studies there is no support for the contention that national economic culture is inconsequential. Keyword: IFRS Adoption, Herding, National Economic Culture Type of manuscript: Conceptual paper JEL Classification: G14, G15, M41
{"title":"IFRS and Investors’ Trading Pattern: A Conceptual Framework","authors":"M. Danrimi, Mazni Abdullah, E. Alfan","doi":"10.22452/AJAP.VOL11NO1.4","DOIUrl":"https://doi.org/10.22452/AJAP.VOL11NO1.4","url":null,"abstract":"Research aim: The purpose of this study is to provide a conceptual model that guides in examining the capital market effects of IFRS adoption from the perspective of investors’ trading patterns, particularly those behaviors that tend to defy the validity of EMH, in this context; herding behavior. \u0000Design/ Methodology/ Approach: The study is conceptual in nature. It relies on a review of the prior academic literature on economic and informational consequences of IFRS adoption published in prominent academic journals. \u0000Research findings: The study finds that despite an enormous amount of research thus far, in this area, substantive empirical evidence on economic and informational consequences of IFRS adoption appears to be far from reach. So far, many questions surrounding the capital market effect of IFRS adoption are yet to be fully resolved. More specifically, it is noted that one of the relatively under-researched areas in the current literature is the nexus between IFRS and investors’ trading behaviors. \u0000Theoretical contribution/ Originality: To the researchers’ knowledge, this study is first to explicitly explore the nexus between IFRS and investors’ herding practices, while highlighting the role of the national economic culture. \u0000Practitioner/ Policy implication: The results of this study are expected to be of interest to academics, regulators, and policymakers in performing a cost-benefit analysis of this planetary set of reporting benchmark, and to the investing public and other market participants who trade based on market fundamentals, treating them as principal indicators for future market movements. \u0000Research limitation/ Implication: The study suggests the use of national economic culture to moderate the effect of IFRS on investors’ trading behavior. Nonetheless, this does not imply that there are no other significant factors or even more significant than culture but based on evidence documented in the prior studies there is no support for the contention that national economic culture is inconsequential. \u0000Keyword: IFRS Adoption, Herding, National Economic Culture \u0000Type of manuscript: Conceptual paper \u0000JEL Classification: G14, G15, M41","PeriodicalId":33532,"journal":{"name":"Asian Journal of Accounting Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74578769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This conceptual paper provides a review of past studies that highlight the development of debit cards in society. A review of past literature was conducted, in which the issues were highlighted and recommendations for potential solutions for an improvement in the usage of these debit cards in a community were discussed. This paper highlights issues in the usage of debit cards for a local community. The review reveals that despite the encouraging adaptation of debit cards in the overall world economy, there are still some loopholes that need to be covered. Hence, several remedies, including intensive promotion to the public, are needed, especially if the card is being introduced as a mechanism for transactions in a particular community.
{"title":"Debit Cards for Local Community’s Monetary Transactions: A Literature Review","authors":"Nabilah Rozzani, Intan Salwani Mohamed, S. Yusuf","doi":"10.22452/AJAP.VOL8NO1.2","DOIUrl":"https://doi.org/10.22452/AJAP.VOL8NO1.2","url":null,"abstract":"This conceptual paper provides a review of past studies that highlight the development of debit cards in society. A review of past literature was conducted, in which the issues were highlighted and recommendations for potential solutions for an improvement in the usage of these debit cards in a community were discussed. This paper highlights issues in the usage of debit cards for a local community. The review reveals that despite the encouraging adaptation of debit cards in the overall world economy, there are still some loopholes that need to be covered. Hence, several remedies, including intensive promotion to the public, are needed, especially if the card is being introduced as a mechanism for transactions in a particular community.","PeriodicalId":33532,"journal":{"name":"Asian Journal of Accounting Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84646466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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