My Account
0 items - $0.00
Buy Products Books Journals

September 2017 (Journal of Accounting, Finance and Economics)

September

2017

March 2018
June 2018
September 2018
September 2016
March 2016
September 2015
September 2017 (Journal of Accounting, Finance and Economics)

Total Articles - 8

Pages 1 – 16

Author: Damion R. McIntosh

This study examines U.S. bank compensation practices under distressed conditions as the recent crisis by analyzing publicly traded banks from 2003 to 2009. The findings demonstrate increased reliance on non-incentive pay due to the adverse effects of the crisis on incentive pay. Specifically, the results show real growth in CEO base salary despite the crisis. However, only small banks paid significantly higher base salary to offset the loss in cash bonus caused by deteriorating corporate performances during the crisis. Large banks did not experience similar offsetting effects. Evidently, banks changed their compensation practices in response to distressed conditions.

Pages 17 – 26

Author: Mohammad Nayeem Abdullah, Kamruddin Parvez and Rahat Bari Tooheen

The study explores the preference for Residual Dividend Policy among companies in a developing country setting. This study examines the data for 59 companies listed on the Chittagong Stock Exchange. The companies were selected using the Selective Index Method. The study period was from 2002 to 2013. A mix of statistical techniques including the t-test has been applied to examine the preference for following the Residual Dividend Policy. The results demonstrate that the selected companies generally do not follow the Residual Dividend Policy, and that there is no preference for investment policy over dividend policy.

Pages 27 – 41

Author: Sakib B. Amin and Fatema Tul Jannat

Public expenditure is considered as an integral part of economic growth. Comprehending the link between public expenditure and economic growth has created some arguments among researchers at both empirical and theoretical levels. However, to the best of our knowledge there is no paper till now to address the issue whether government expenditure has increased national income or national income has increased government expenditure in Bangladesh. Hence, the main purpose of conducting this paper is to examine the causal relationship between government expenditure and national income in Bangladesh. In order to inscribe this particular matter, in this paper, annual data from the time period, 1980-2014 has been used up, along with Augmented Dickey-Fuller (ADF) Unit Root Test for the variables, Johansen Co-Integration and then, Granger Causality Test. Based on the results obtained from the above mentioned tests, no causal relationship has been found between the variables of government expenditure and national income which supports the Wagner’s Law. This has important policy implications, as it suggests that national income does not seem to harm public expenditure in Bangladesh

Pages 42 –57

Author: Wu Mengyun, Muhammad Imran, Muhammad O. Farooq, Muhammad Abbas, Allah Yar, Muhammad Ilyas and Rabnawaz Khan

Stock market of any country plays a vital rule in discovering the economic development and growth progress. The industrial growth and its importance cannot be overlooked in economic growth. Companies issue share to generate capital for their expansion and new opportunities. Investment in stock market not free of risk and investor always demand for high return due to the risk they are taking. In this research the equity premiumand its determinants are highlighted. The equity premium has been calculated by taking the difference of market return and interest free returns. Monthly data has been used in this study ranging from July 2001 to Dec 2014. Co-Integration test has confirmed that there is long term relationship between endogenous and exogenous variable. The Granger Causality test were also applied and found that interest rate does granger cause to equity risk premium followed by exchange rate that causes equity risk premium at 10% significance level. Also exchange rate does granger causes to interest rate. Variance decomposition and impulse response showed that interest rate has significant effect followed by exchange rate and Inflation over equity premium. Foreign private investment has no or very little effect on equity premium

Pages 58 – 71

Author: Rashedul Hasan, Niaz Mohammad and Mohammad Faridul Alam

This study focuses on developing a conceptual framework for examining determinants that influence intellectual capital reporting and relies on a critical review of the literature. Indexed journals are reviewed, and evidence is drawn to develop a model examining possible determinants of intellectual capital reporting. Data for the study was gathered from the annual reports of 40 banks listed on the Dhaka Stock Exchange. Findings of the paper established a corporate reputation as a significant positive determinant of IC disclosure. Regulators will be benefited from the model as it can provide guidance in implementing uniform guidelines for IC disclosure. The conceptual framework developed in the paper is first of its kind and thus contributes to the body of IC literature.

Pages 72 – 85

Author: Sakib Bin Amin and Maaesha Nazmul

In a developing country like Bangladesh, which is one of the most promising emerging economies, it is absolutely crucial that investment is being made in order to groom the labor force of tomorrow. Achieving universal primary education is the second United Nations Millennium Development Goals (MDG). However, research reveal that the enrolment rate in education for both male and female will lead one to believe that Bangladesh is far behind its contemporaries. This is why the trend of the percentage of foreign education going into the education sector in Bangladesh can be concerning. Foreign aid to education for females can change their lives and the long run benefits will bring fruition to the economy. This paper discusses the trends of female education over 26 years seen in Bangladesh. With the help of Augmented Dickey Fuller (ADF) and Phillips-Perron (PP), Co-integration and Granger Casualty test, a robust effect of foreign aid on the female education of Bangladesh has been determined.

Pages 86 – 102

Author: Arindam Bandopadhyaya, Xingyuan Fei and Yu Zhang

This paper investigates the relation between housing prices and demographics in the U.S., using New England as sample. The authors find that there is a significantly negative relation between housing prices and a relatively ageing population during 1991-2010, after controlling for the significantly positive effect of real Gross Domestic Product (GDP) growth. It is also found that the changing demographic effect is more pronounced in the period of 2001-2010 in which the baby boomer generation became older. The authors further make projections of median housing prices until 2025 and find that housing prices may increase moderately if normal economic conditions prevail and demographic changes take place at a similar pace as compared to the past few years. However, there may be sharp increases (decreases) in housing prices if economic growth quickens (slows down) and the population ages at a slower (faster) rate. The paper supports the meltdown view that there is a negative relationship between demographic changes and asset prices by focusing on housing prices in New England and suggests potentials for policy makers to stimulate the local housing market.

Pages 103 – 117

Author: Sakib B. Amin and Muntasir Murshed

Inflow of foreign currencies is believed to generate multidimensional impacts in shaping the economy of the recipient nations, particularly the underdeveloped nations that are unable to finance their development investments. To the best of knowledge, no previous study has focused simultaneously on all the four sources of foreign inflows and their individual effects on Bangladesh’s economic growth and healthcare development prospects. This paper fills this gap by investigating the effectiveness of the foreign inflows in generating favorable impacts on the two utmost imperative macroeconomic targets in Bangladesh during the period 1983-2014.This paper attempts to analyze the individual influences of all the sources of foreign currency inflows on economic growth and health sector development in context of Bangladesh during the period from 1983 to 2014. As per the methodology, the Augmented Dickey Fuller (ADF), Phillips-Perron (PP), Johansen Cointegration tests were followed by the Granger Causality test and the Vector Error Correction Model (VECM) approach. The findings reveal that most of the sources of foreign currency inflows affect both economic growth and health care development in the long run but are ineffective in the short run. Thus, there is a scope for further studies to identify the factors attributing to the ineffectiveness of foreign inflows in the short run and design effective policies in rectifying the problems to attainment of socio economic goals both in the long run and short run.

Total Articles- 8

All citation information on this page will be exported. help