Floating rate bonds are coupon-paying instruments generally indexed to interest parameters. At the trading date, the payment dates and indexation rules are known, while the value of future coupons is uncertain. In this perspective, floating rate bonds are generally seen as a portfolio of zero coupon bonds. Therefore, at each coupon payment date, the bond should be quoted at face value and its duration should match the maturity of the replicating zero coupon bond. However, the empirical evidence based...

This paper aims to assess the level of tax knowledge among the non-accounting undergraduates in public and private universities in Malaysia; and to determine whether there is any significant difference in their level of tax knowledge. A questionnaire was administered to non-accounting undergraduates from four universities. Results show that most respondents have positive attitudes towards paying taxes. Results also indicate that almost 40% of the respondents possessed low level of basic tax knowledge...

Given the nature of shareholder activism in France, some policies and strategies adopted in Anglo-Saxon countries may not be relevant. Therefore, it is important to study the strategies used by shareholder activists in France and understand how they are involved in French companies’ governance. The purpose of this paper is to outline the control mechanism used by activist shareholders in French companies through shareholder proposals. This form of activism is currently one of the most common practices...

This paper analyses the determinants and the relationship between foreign direct investment (FDI) and economic growth of Bangladesh. The study uses the time series regression model over the period from 2004 to 2013 to test the hypotheses. The study employs an OLS method for the analysis, and to determine the macroeconomic variables that influence FDI inflow in Bangladesh for the sample period. We find evidence that inbound FDI is positively correlated with the gross capital formation, imports of...

This paper investigates culture’s impacts upon investment behavior and stock market volatility. The aim is to identify how cultural dimensions influence investment behavior and affect stock market volatility. A Markov regime-switching GJR-GARCH model is estimated using Maximum Likelihood algorithm based on fifteen financial market indices ranging from July 5th 2006 to May 16th 2014 with daily frequencies; the volatility model evolves across two regimes in terms of low volatility state and high...

The study analyzes the short and long term relationship between Indian and World major stock market. Secondary data was considered for the study which covers the daily closing prices from the period of 2003 until the end of 2013. We used Jarque Bera Test, Dickey Fuller Test, Augmented Dickey Fuller (ADF) test, Phillips- person (PP), and Ganger causality Test and co integration test to identify the normality, long/short run relationship and interdependency exist between National and International...

The aim of this study was to examine the impact and association between accounting students’ age and their academic performance when studying Cost Accounting. Correlation and ttest analyses using a sample of 232 students from the College of Business Studies in Kuwait during 2013/2014 and 2014/2015 academic years were used to test the study’s hypotheses. The results indicate that there was a statistically significant and positive association between accounting students’ age and their academic...

A survey of 150 firms in Australia and 150 firms in Sri Lanka are used in this study to evaluate the influence of nationaldevelopment level on the choice and application of capitalbudgeting-techniques (CBT). It was found that Australian firms rely heavily on sophisticated CBT and, while small Sri Lankan firms tend to rely on pay-back-period, large Sri Lankan firms tend to be as sophisticated as their Australian counterparts. Thus, the overall conclusion drawn from this study is that, in terms of...

Given that most emerging stock markets are inefficient, it is more reliable to test the observable benefits of the International Financial Reporting Standards (IFRS), in terms of improving market efficiency in general, rather than the value relevance of the information produced by the IFRS as it has been addressed in previous studies of emerging stock markets. The purpose of this study is to investigate the possible impact of the adoption of IFRS on market efficiency in the Saudi stock market as...

This paper considers the legal liability regime for financial advisors, namely certified public accountants and auditors, in Singapore and Australia. Examination of the comparative aspects in which lawsuits against financial advisors are commenced provided an analysis of the legal and commercial environment and the regulatory regimes of the two common law jurisdictions considered. A qualitative, legal case-study method was used to meet the following objectives: (i) description of background information...