Current Issue : October - December Volume : 2016 Issue Number : 4 Articles : 6 Articles
This paper uses the dynamic back propagation (BP) neural network model and the auto regressive moving average\n(ARMA) model to forecast the RMB exchange rate based on the data from January 1, 2011 to October 10, 2012. The\nresults show that the dynamic BP neural network model works better than the ARMA model in evaluating both the trend\nand the deviation of RMB exchange rate....
The financial statement tells us a story, on this how much we can trust on it. This issue represents Earning Quality, covers two things one is earning management and second is earning manipulation. The objective of this study is to measurement the earning quality in BRIC countries; companies to what extent represents financial statements are trusted worthy for their stakeholders. In this study, the discretionary accruals are used as a proxy of earning manipulation and nondiscretionary accrual serves as a proxy of earning management. Data collection is taken from the BRIC countries companies� annual reports. Modified Jones model (cross-sectional) is applied to estimate the earning management and earning manipulation for each country. The author finds strong evidence about BRIC countries involve in earning management and earning manipulation. In Case of Russia, model could not be able to detect the significant earning manipulation; one reason behind this issue is that Russian company�s data collection are very limited and do not follow the IASB or GAAP rather they follow own country GAAPs. This research would be helpful for the auditor, the user of financial statement and accounting standard bodies like IASB or GAAPs that they should reduce the role of discretionary accruals. The authors extend previously modified Jones model and apply it to BRIC countries. The authors also extend previous work by determining the characteristics of firms which manage their earnings....
We empirically test whether neighbouring countries compete for and take the FDI inflows of each other. Using\ntime series data for the years 1991-2013, the impact of the FDI inflows to the neighbouring countries of Pakistan\n(i.e., China, India, and Iran) on the FDI inflows to Pakistan was tested. We found that the FDI inflows to China has a\nnegative impact on the FDI inflows to Pakistan while the FDI inflows to India has a positive impact on the FDI inflows\nto Pakistan, whereas the impact of FDI inflows to Iran on the FDI inflows to Pakistan is insignificant. Further, trade\nopenness and GDP growth were found to have a significant and positive impact on the FDI inflows to Pakistan. The\nstudy also found the existence of long run relationship between the FDI inflows to Pakistan, India, China and Iran.\nThe empirical findings of the study suggest that policies made in isolation based on country specific FDI\ndeterminants will have less significant results as compared to policies made on the relative FDI attractiveness score.\nThe ultimate impact of agglomeration of policies will helps in sustaining sustainable economic growth and\ndevelopment as well as improves largely society welfare of the neighbouring countries....
This paper examines whether or not XBRL (eXtensible Business Reporting Language) adoption reduces information asymmetry in Taiwan�s Public companies. Recently, XBRL and International Financial Reporting Standards (IFRS) have gradually received substantial attention in the accounting field and the international capital market. Users of financial information can analyze and convert financial reports into the same format by using XBRL. This study evaluated whether XBRL adoption reduced information asymmetry. Prior scholars have used bid-ask spread as a proxy variable of information asymmetry to explore whether XBRL adoption reduced information asymmetry. This study focused on information asymmetry in Taiwan�s capital market. In addition to using bid-ask spread as a proxy variable of information asymmetry, we used stock turnover ratio and earnings volatility as proxy variables for measuring the level of information asymmetry. The results of this study demonstrated that XBRL adoption significantly affects the information-asymmetry proxy variables and that effectively reduce information asymmetry in Taiwan�s capital market. Based on these findings, the government should promote the XBRL usages in financial reporting and require XBRL adoption by all public companies to enable financial information users XBRL....
In many projects, especially airlines projects type of financing is very important for some reason\nsuch as the amount of capital required and sensitivity of project in terms of political, economic and\nsecurity issues. In this research, researcher with regard to the importance of the issue is to seek to\nachieve a goal that will be on the way of finding suitable methods for Mahan Air to financing and\nwhat is involved the researcher's mind is to introduce and identify best methods of financing from\ninternal and external methods for international trading companies and especially Mahan air. At\nthe first, a survey was conducted from 15 experts to prioritize important ways using pairwise\ncomparisons questionnaires and fuzzy analytical hierarchy process. Then to practical test of obtained\npriority another questionnaire was used. In order to ensure the validity of the questionnaire\nprofessors and experts were asked to comment and their view was confirmed the validity of\nquestionnaire. To ensure unambiguity in the questions and reliability, questionnaire tentatively\ndistributed among 30 individuals and Cronbach�s alpha 722/0 was obtained that represented\ngood credit of questionnaire. The results showed that in the financing of projects in the international\ntrading companies in internal resources: loan, equity participation, instalment sale, leasing,\ninternal line of financing, profit sharing respectively and external sources of finance, usance, external\nline of financing, build, operate and transfer (BOT) and joint venture respectively involved\nand closer inspection revealed that there was a significant relationship between various methods\nof financing and success of the project....
Since the onset of the recent global financial crisis and the resulting trade downturn, there have been efforts to\nunderstand the channels through which financial crisis has been affecting global trade and to explain the overall welfare\nimpact of the crisis. Most previous studies focus on finding the key factors that link the financial crisis to the trade\ncrisis. Specifically, the role of limited access to trade credit, murky protectionism, behind-the-border measures, and\nfluctuations in demand components are implicated as the leading contributors to the downturn. The purpose of this study\nis to investigate the significance of two of these factors, namely, murky protectionism and demand components, in the\ncontext of trade among OECD and African countries during the crisis years. Author has drawn commodity-level data\non bilateral trade flow and trade measures from the OECD and GTA databases, respectively, to empirically investigate\nthe impacts of OECD countriesââ?¬â?¢ demand components and murky protectionisms on imports from African countries. The\nresults confirm that OECD countriesââ?¬â?¢ demand components played a relatively lesser role in the downturn of imports from\nAfrican countries, whereas trade measures, especially tariffs, quotas, and the so-called ââ?¬Ë?trade defense measuresââ?¬â?¢ had\nsignificant negative effects on OECD imports from African countries. GTAââ?¬â?¢s evaluation of the trade measures, in terms\nof the nature of their likely impacts on trade flows, is, however, not confirmed in this study...
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