The International Journal of Business and Finance Research

2007 - 2023

Current editor(s): Terrance Jalbert

From The Institute for Business and Finance Research
Bibliographic data for series maintained by Mercedes Jalbert ( this e-mail address is bad, please contact ).

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Volume 8, issue 5, 2014

Using Quantile Regressions to Examine the Capital Structure Decision of US Firms pp. 1-8

Bala Arshanapalli and William Nelson

A Comparison of the Financial Characteristics of U.S. and German Manufacturing Firms pp. 9-22

Daniel Folkinshteyn, Ozge Uygur and Gulser Meric

Regulation and Bank Deficiency: Evidence from Europe pp. 23-33

Dalenda Khouaja and Salem Lotfi Boumediene

The Impact of Corporate Governance on the Performance of Lebanese Banks pp. 35-46

Hani El Chaarani

Analyst Reactions to Expectations Management in the Post-Regulation Fair Disclosure Period pp. 47-58

Sherry Fang Li, Fang Sun and Fengyun Wu

Predicting Bank Credit Risk: Does Board Structure Matter? pp. 59-70

Michael Adusei, Samuel Yaw Akomea and Ralph Nyadu-Addo

Does Online Trading Affect Investors' Trading Intention? pp. 71-79

Ya-Hui Want

Determinants of the Internationalization of the Firm: The Accelerated Model vs. the Sequential Model pp. 81-93

Luis Ernesto Ocampo Figueroa, Moises Alarcon Osuna and Carlos Fong Reynoso

Neural Network Forecasts of Taiwan Bureau of National Health Insurance Expenditires pp. 95-114

Chin-Piao Yeh, Ai-Chi Hsu, Wei-Hsien and Kuang-Cheng Chai

Value and Cost of Multinationality: International Diversification and Real Options Effects pp. 115-125

Sangcheol Song

Volume 8, issue 4, 2014

Evidence on Industry Cost of Equity Estimators pp. 1-15

Omar Gharaibeh, Graham Bornholt and Michael Dempsey

Personal Financial Decisions: A Study of Changes in Homestead Exemption Levels and Consumer Bankruptcy Choices pp. 17-26

Benjamin B Boozer, S. Keith Lowe and Robert J. Landry

Weak Form Market Efficiency During the 2008 Financial Crisis: Evidence from the Muscat Securities Market pp. 27-42

Sami Al Kharusi and Robert O. Weagley

The Effect of Regulation Fair Disclosure on Market Integration pp. 43-62

Surya Chelikani and Frank P. D'Souza

Do Firms Time the Equity Market in a Non-Linear Manner? Evidence from the UK pp. 63-74

Hafezali Iqbal Hussain

Market Reaction to Acquisition Announcements after the 2008 Stock Market Crash pp. 75-82

Ozge Uyger, Gulser Meric and Ilhan Meric

Price and Volume Reactions to Cash Dividend Announcements: Evidence from Taiwan pp. 83-96

Jack J.W. Yang and Tsung-Shin Wu

Interest Rate Chanel of Monetary Transmission Mechanism: Evidence from Nigeria pp. 97-107

Ikechukwu Kelikume

Influence of External Factors on the Taiwan Stock Exchange pp. 109-120

Chin-Wen Huang

Determinants of Tunisian Bank Profitability pp. 121-131

Raoudha Bejaoui and Houssam Bouzgarrou

Volume 8, issue 3, 2014

Do GAP Models Still have a Role to Play in Forecasting Inflation? pp. 1-12

Lillian Kamal

Risk and Profitability in Middle East and North Africa Banking System: An Examination of off Balance Sheet Activities pp. 13-26

Ahmad Y Khasawneh and Husam Aldeen Al-Khadash

Tests of Equity Market Anomalies for Select Emerging Markets pp. 27-46

Sanjay Sehgal, Srividya Subramaniam and Florent Deisting

Country and Industry Factor Influence on Investment in Latin American Emerging Markets pp. 47-57

Rishma Vedd, Keji Chen and Nataliya Yassinski

The Hidden Message in AFS Securitites of US Banks pp. 59-70

Richard Zhe Wang and Menghistu Sallehu

Investor Overreaction in Asian and US Stock Markets: Evidence from the 2008 Financial Crisis pp. 71-93

Yu-Nan Tai

Return Volatility Movements in Spot and Futures Markets: Evidence from Intraday Behavior of the S&P 500 Index pp. 95-107

Jeng-Hong Chen

Value at Risk Estimation for Heavy Tailed Distributions pp. 109-125

Imed Gammoudi, Lotfi BelKacem and Mohamed El Ghourabi

Volume 8, issue 2, 2014

New Evidence from S&P 500 Index Deletions pp. 1-10

Rashiqa Kamal

The Interplay between Director Compensation and CEO Compensation pp. 11-26

Dan Lin and Lu Lin

The Relationship Between Brand Image and Purchase Intention: Evidence from Award Winning Mutual Funds pp. 27-40

Ya-Hui Wang and Cing-Fen Tsai

Time Series Modeling and Forecasting Information: Evidence from Nigeria pp. 41-51

Ikechukwu Kelikume and Adedoyin Salami

Capital Structure Determinants of Publicly Listed Companies in Saudi Arabia pp. 53-67

Turki SF Alzomaia

Cost Efficiency of Ghana's Banking Industry: A Panel Data Analysis pp. 69-86

Kofi Adjei-Frimpong, Christopher Gan and Baiding Hu

Effects of Service Innovation on Financial Performance of Small Audit Firms in Taiwan pp. 87-99

Yi-Fang Yang, Lee-Wen Yang and Yahn-Shir Chen

The Association between Firm Characteristics and Corporate Financial Disclosures: Evidence from UAE Companies pp. 101-123

Khaled Aljifri, Abdulkareem Alzarouni, Chew Ng and Mohammad Iqbal Tahir

Volume 8, issue 1, 2014

The Financial Characteristics of Large and Small Firms Before and After the 2008 Stock Market Crash pp. 1-16

Daniel Folkinshteyn and Gulser Meric

The Role of Unused Loan Commitments and Transaction Deposits During the Recent Financial Crisis pp. 17-29

Mihaela Craioveanu and Jose Mercado-Mendez

International Evidence of Spillover Effects of Deposit Rates: A Multivariate Garch Model pp. 31-44

Fujen Daniel Hsiao and Yan Hu

Effects of the Monetary Policy Rate on Interest Rates in Nigeria pp. 45-55

Ikechukwu Kelilume

Australian Coal Company Risk Factors: Coal and Oil Prices pp. 57-67

M. Zahid Hasan and Ronald Ratti

Does the Appointment of Independent Directors Drive Multiple Effects? pp. 69-88

Yung-Chuan Lee and Ming-Chang Wang

An Estimation of Ecuador's Export Demand Function with the US pp. 89-102

Ranjini L. Thaver and Christina Bova

An Empirical Examination of Negative Economic Value Added Firms pp. 103-112

Stoyu I. Ivanov, Kenneth Leong and Janis K. Zaima

Can Technical Analysis Signals Detect Price Reactions Around Earnings Announcement?: Evidence from Indonesia pp. 113-123

Dedhy Sulistiawan and Jogiyanto Hartono

Volume 7, issue 5, 2013

Analysis of the Effects of Pre Announcement of S&P 500 Index Changes pp. 1-10

Stoyu I. Ivanov

Variations in Retirement Account Holdings: Evidence from Native and Immigrant Women in the U.S pp. 11-22

Yoku Mimura

Market REsponse to the Composition Change of Islamic Index: Evidence from Indonesia pp. 23-34

Erie Febrian, Aldrin Herwany and Adi Primadhi

Aligning Human Capital Measurement With Corporate Value Creation: Evidence From The Taiwan Electronics Industry pp. 35-46

Chin-Chen Yeh and Fan-Hua Kung

The Influences of Greed And Fear on Fund Performance pp. 47-57

Chun An Li and Jia Chi Wang

Financial Development and Economic Growth: Evidence from Ghana pp. 61-76

Michael Adusei

Did Financial Liberalization Lead to Bank Fragility? Evidence from Tunisia pp. 77-88

Helmi Hamdi, Abdelaziz Hakimi and Mouldi Djelassi

Quality, Size and Performance of Audit Firms pp. 89-105

Yahn-Shir Chen, Joseph Hsu, Mei-Ting Huang and Ping-Sen Yang

Internet Financial Communication: Evidence from Unregulated Markets of Brussels and Paris pp. 107-122

Laetitia Pozniak

An Agency Theory Approach to Sovereign Debt Crisis pp. 123-134

Guangdi Chang and Fulwood Chen

Volume 7, issue 4, 2013

Does Foreign Investment Worsen the Domestic Stock Market During a Financial Crisis? Evidence from Taiwan pp. 1-12

Chun-Pin Hsu, Chun-Wen Huang and Alfred Ntoko

Time-Varying Risk Premia for Size Effects on Equity REITS pp. 13-28

Guangdi Chang and Yi-Tsuo Chang

Determinants of Chief Executive Officer Compensation pp. 29-42

Hwei Cheng Wang, Chiulien C. Venezia and Yung-I Lou

I-Ching Huang pp. 43-62

Yahn-Shir Chen and Yahn-Shir Chen

Accrual Anomaly and Idiosyncratic Risk: International Evidence pp. 63-75

Steve Fan and Linda Yu

The Impact of Financial Liberalization on Private Investment in Ghana pp. 77-90

Eruc Asare

Mean Reversion of Volatility Around Extreme Stock Returns: Evidence from U.S. Stock Indexes pp. 91-101

Ling T. He

Are Investment and Savings Cointegrated? Evidence from Middle East and North African Countries pp. 103-113

Helmi Hamdi and Rashid Sbia

Security Selection Factors: Novice Versus Experienced Investors pp. 115-126

Steven Freund, Dev Prasad and Frank Andrews

Volume 7, issue 3, 2013

The Influence of Foreign Portfolio Investment on Domestic Stock Returns: Evidence from Taiwan pp. 1-11

Chun-Pin Hsu

CEO Behavior and Subprime Mortgage Crisis pp. 13-25

Guangdi Chang and Fulwood Chen

The Increasing Influence of Oil Prices on the Canadian Stock Market pp. 27-39

Shahriar Hasan and Mohammad Mahbobi

Corporate Governance and Information Content of Stock Trades: Evidence from S&P 100 Companies pp. 41-56

Steve Fan

Price Discovery and Volatility Spillover: Evidence from Indian Commodity Markets pp. 57-75

Sanjay Sehgal, Namita Rajput and Florent Deisting

Influence of the Capital Markets Authority's Corporate Governance Guidelines on Financial Performance of Commercial Banks in Kenya pp. 77-92

Charles M. Rambo

The Effects of Foreign Bank Entry on Financial Performance of Domestic-Owned Banks in Ghana pp. 93-104

Nsiah K. Acheampong

The Relationship between Bank Credit Risk and Profitability and Liquidity pp. 105-118

Myrna R. Berrios

Impact of Inward FDI, Import on Domestic Innovation: Evidence from China pp. 119-136

Tao Qu, Jun-cai Chen, Shan-min Li and Hang Xiang

Volume 7, issue 2, 2013

Risk Analysis Using Regression Quantiles: Evidence from International Equity Markets pp. 1-15

Hongtao Guo, Miranda S. Lam, Guojun Wu and Zhijie Xiao

Pre-close Transparency and Price Efficiency at Market Closing: Evidence from the Taiwan Stock Exchange pp. 17-26

Cheng-Yi Chien

Chief Executive Compensation: An Empirical Study of Fat Cat CEOs pp. 27-42

Dan Lin, Hsien-Chang Kuo and Lei-Huey Wang

Bank Credit Lines and Overinvestment: Evidence from China pp. 43-52

Qianwei Ying, Danglun Luo and Lifan Wu

Long-term Prior Return Patterns in Stock Returns: Evidence from Emerging Markets pp. 53-78

Sanjay Sehgal, Sakshi Jain and Pr Laurence the Porteu de la Morandiere

The Fama French Model or the Capital Asset Pricing Model: International Evidence pp. 79-89

Paulo Alves

Quality of Governance and the Market Value of Cash: Evidence from Spain pp. 91-104

Eloisa Perez- de Toledo and Evandro Bocatto

Is Inflation Always and Everywhere a Monetary Phenomenon? The Case of Nigeria pp. 105-114

Salami Doyin and Kelikume Ikechukwu

The Effects of Ownership Structure and Competition on Risk-Taking Behavior: Evidence from UAE Conventional and Islamic Banks pp. 115-124

Hussein A. Hassan Al-Tamimi and Neila Jellali

Volume 7, issue 1, 2013

The Effect of Investor Bias and Gender on Portfolio Performance and Risk pp. 1-16

Kevin Lee, Scott Miller, Nicole Velasquez and Christi Wann

Cross-Border Mergers and Acquisitions and Country Risk Ratings: Evidence From U.S. Financials pp. 17-29

Halil Kiymaz

Do Neglected Firms Suffer from an Information Deficit? pp. 31-44

Kenneth Yung, Hamid Rahman and Qian Sun

Explanatory Factors for Market Multiples and Expected Returns pp. 45-54

Sandip Mukherji and Youngho Lee

This paper empirically tests the relation between a firm’s degree of accounting conservatism and its level of operating risk. This paper constitutes the first empirical study in the accounting literature to test the risk signaling theory of accounting conservatism which is recently proposed by Wang, O hOgartaigh and van Zijl (2010), who argue that a firm optimally selects a degree of accounting conservatism in order to signal its own operating risk to the capital market. Consistent with the signaling theory, this paper reports empirical evidence that US firms with a lower level of operating risk are more likely to adopt a higher level of accounting conservatism than are firms with a higher level of operating risk. This finding indicates that a signaling separating equilibrium indeed exists in the capital market, where firms use accounting conservatism as a signaling device. The findings of this paper highlights the important economic role that accounting conservatism plays in reducing the capital market’s information asymmetry with regard to the firm’s operating risk pp. 55-68

Richard Zhe Wang

Causality Relationship between Macroeconomic Variables and Stock Market Development: Evidence from Bahrain pp. 69-84

Hisham Abdelbaki

Evolution of Corporate Governance During the Recent Financial Crises pp. 85-100

Hanene Ezzine and Bernard Olivero

This paper examines the structural components that characterize the price behavior and perceived arbitrage of the global thermal coal market. Index coal prices plus freight costs to India favor imports of Indonesian thermal coal however significant volumes are also imported from South Africa and Australia. The Indian energy market is characterized by homogeneous power plant technologies and coal procurement strategies which allows for seaborne coal brands to be benchmarked against a specific quality. In this study the index price of Australian, South African and Indonesian thermal coal is transformed using freight and quality adjustments to derive a measure for the expected electrical energy output in units of energy. The degree of market integration in the seaborne thermal coal market using the new price series is tested using cointegration analysis. The degree of convergence and the absolute level of arbitrage between major coal exporters are also tested using a recursive approach in the form of a Kalman filter. Using the transformation to units of energy the market is shown to be relatively integrated and the apparent arbitrage between exporters disappears when accounting for freight and coal quality differentials. This study challenges the common notion that thermal coal importers source material that has a freight price advantage and highlights the importance of coal quality differentials in power production pp. 101-120

Jason West