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This study explores the impact of oil sector on global competitiveness of the GCC states in a panel data framework for the period from 2006 to 2014. The focus is placed on how the non-traditional factors; oil rents, fuel exports as... more
This study explores the impact of oil sector on global competitiveness of the GCC states in a panel data framework for the period from 2006 to 2014. The focus is placed on how the non-traditional factors; oil rents, fuel exports as percentage of merchandise exports, oil prices, and mining sector production impact on the global competitiveness of the GCC nations.The study uses panel data techniques to measure the effect of the oil sector’s impact on of global competitiveness of the GCC countries. The results of the regression show that the relation between rent and GCI found to be negative and highly significant whereas the oil prices and contribution of the mining sector in GDP found to have positive relation with GCI at 90% significance level. Finally, fuel exports as percentage of the merchandize exports has insignificant relation with GCI. Keywords: oil sector, global competitiveness, GCC countries, panel data. JEL Classification: E31, E37, F11, F14, F43, F62, O47, O53.
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This paper examines the relationship between stock prices and dividend policy. To test the relationship, it uses multiple least square regressions for its analysis. The model developed for this research evaluates the relationship between... more
This paper examines the relationship between stock prices and dividend policy. To test the relationship, it uses multiple least square regressions for its analysis. The model developed for this research evaluates the relationship between dividend policy and stock price volatility over a span of ten years. The analysis utilizes multiple regressions to describe these relationships and also includes a correlation analysis amongst the variables chosen. The results conveyed a negative impact of the two components of the dividend policy that is D-P and D-Y on the share price volatility. This demonstrated that Jordanian industrial firms had their dividend yield rise, the stock prices tended to stabilize while the price volatility declined and thus lowers the share price risks. The results also demonstrated that higher payout ratios would mean low volatility of the stock price. Keywords; Divined Policy, Stock Price, Volatility, Jordanian Financial Market.
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Although corruption is measured and defined by different institutions yet there is no agreement on one perfect definition. In this study attempt to analyze the results of corruption index using the definition and the index of Transparency... more
Although corruption is measured and defined by different institutions yet there is no agreement on one perfect definition. In this study attempt to analyze the results of corruption index using the definition and the index of Transparency International and the standard deviation of the scores of its corruption perception index. The study investigates the behavior of the index over time for all countries included in the CPI for the period of 2000-2014. Using a Hierarchical Classification Method, we grouped the countries into high, medium and low corrupt countries and then we investigate the volatility of perception of corruption among the same group and the different groups. We find that countries with low and high CPI are less volatile in terms of perception of corruption while countries with medium score are relatively stable in term of perception of corruption. Keywords: Corruption, Hierarchical Classification Method, Corruption Perception Index
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This study examines the implications of changes in dividends in the market of Kingdom of Saudi Arabia (KSA). First, the research analyzes changes in dividends within the context of signaling hypothesis. Second, this study examines another... more
This study examines the implications of changes in dividends in the market of Kingdom of Saudi Arabia (KSA). First, the research analyzes changes in dividends within the context of signaling hypothesis. Second, this study examines another aspect of signaling hypothesis by testing the abilities of dividends to predict future earnings and cash flows of Saudi firms. Financial economists have explored various aspects of changes in dividends and earnings for well developed markets such as markets of North America and Europe. The objective of this study is to see how the signaling hypothesis manifests itself in a small market, such as KSA, characterized by concentrated family-ownerships, non-taxability of dividends, and high degree of information asymmetry. Signaling hypothesis, initially formulated by Miller and Modigliani (1961), suggests that dividend changes convey material information and that share prices react positively to the announcements of dividend changes. Signaling hypothesi...
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The purpose of this Book is to provide readers with the skills to analyze complex corporate financial transactions. It will prepare them for get background in financial management of public or private firms, investment banking or... more
The purpose of this Book is to provide readers with the skills to analyze complex corporate financial transactions. It will prepare them for get background in financial management of public or private firms, investment banking or management consulting. This book will build upon the teachings of Corporate Finance and will help the learners understand how to apply financial theories to practical issues in corporate restructuring, mergers and acquisitions. The components of this book are focus on advanced corporate finance with emphasis on corporate restructuring and mergers and acquisitions. Topics include financial analysis and planning, short-term financial planning, strategic acquisitions, due diligence, valuing acquisitions, leverage transactions and international acquisitions and corporate governance. Emphasis will be placed on what capital funds a business needs, how these funds are obtained, and how they are managed.
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Purpose This paper aims to investigate whether culture has an impact on justifications for tax cheating, and if there is, indeed, a rationale for justifying this behavior. Design/methodology/approach World surveys (V201) were used to... more
Purpose This paper aims to investigate whether culture has an impact on justifications for tax cheating, and if there is, indeed, a rationale for justifying this behavior. Design/methodology/approach World surveys (V201) were used to measure justifications for tax cheating in 39 countries. Hofstede’s culture dimensions were used as a measurement scale for the relevant cultural aspects that could have an impact on tax cheating. Findings The results show that individualism and power distance increase the justification, while masculinity and uncertainty avoidance decrease the justification for tax cheating. Accordingly, when budgeting for tax revenues, governments need to consider the cultural dimension in their risk assessments for tax evasion. Originality/value The findings of this research provide some implications for legislators and policymakers. For example, they need to give more consideration to their respective society’s cultural dimensions and to the structure of their commun...
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Purpose This study aims to better understand the phenomenon of corruption in Tunisia in relation to its impact on economic development. The period of study is 1995 to 2014. The auto-regressive distributed lag (ARDL) model is adopted to... more
Purpose This study aims to better understand the phenomenon of corruption in Tunisia in relation to its impact on economic development. The period of study is 1995 to 2014. The auto-regressive distributed lag (ARDL) model is adopted to examine the existence of a long-term relationship between the above-mentioned variables and also the direct and indirect consequences of corruption on economic development in Tunisia. Design/methodology/approach The study uses a modern econometric technique to estimating the long-term relationship (e.g. the co-integration) between corruption and economic development; using this technique also allows us to investigate the impact of corruption on economic growth. Findings The empirical results show that corruption has a negative effect on per capita gross domestic product (GDP) in Tunisia for the period under review. This effect is described as a direct effect of corruption in the long term; specifically, declines are observed in per capita GDP, over th...
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Purpose In this study, the authors aim to investigate the control of corruption (COC) mechanism and the rule of law (ROL) in mediating the effect of culture on terrorism financing. Thus, whether the COC and the ROL can mediate the effect... more
Purpose In this study, the authors aim to investigate the control of corruption (COC) mechanism and the rule of law (ROL) in mediating the effect of culture on terrorism financing. Thus, whether the COC and the ROL can mediate the effect of culture on terrorism financing across 78 countries has been examined. This study can provide additional evidence about the importance of having good institutional quality to hinder any deviant behavior like terrorism financing. Design/methodology/approach Structural equation modeling is used to test the mechanism of the ROL and COC in mediating the effect of culture on terrorist financing (TF). This research tries to investigate the indirect path of culture in TF through COC and ROL and to examine the role of institutions in motivating or demotivating the deviant behaviors. Findings The results revealed that COC and ROL completely mediate the relation between culture and TF. This supports the postulation that there is an indirect relationship bet...
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Purpose Despite the existence of laws, regulations and sanctions, financial crime remains widespread. The Panama leaks have proven that people from all over the world are participating in money laundering and other financial crimes. This... more
Purpose Despite the existence of laws, regulations and sanctions, financial crime remains widespread. The Panama leaks have proven that people from all over the world are participating in money laundering and other financial crimes. This study aims to investigate the influence of national culture on financial crimes across 78 countries. Design/methodology/approach This study uses Hofstede’s cultural framework as a basis for its hypotheses on financial crime. It also uses the Basel anti-money laundering index as a proxy for measuring the incidence of financial crime across the countries under review. Findings The findings show that countries whose cultural profiles are characterized by low uncertainty avoidance, low individualism, high masculinity and low long-term orientation have high rates of financial crime. The finding also shows that countries whose cultural profiles are characterized by individualism or positive collectivism, uncertainty avoidance and long-term orientation hav...
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Although laws, rules and regulations are existing, financial crimes is a widespread phenomenon. Panama Leaks has proved that people from all over the world are participating in money laundry and financial crimes. In this study, we have... more
Although laws, rules and regulations are existing, financial crimes is a widespread phenomenon. Panama Leaks has proved that people from all over the world are participating in money laundry and financial crimes. In this study, we have investigated the influence of national culture on financial crimes across 78 countries. Using Hofstede’s cultural framework as a basis for our hypotheses and Basel Anti-Money Laundering (AML) Index as a proxy for financial crimes. The results have shown that the financial crime increases if the country’s profile is characterized by low uncertainty avoidance, low individualism, high masculinity, and low long-term orientation. Laws, regulations and sanctions are not the only factors that can help in deterring the crime, but the government has to go through a holistic approach that includes cultural factors as well.
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The aim of the current study is to discover and examine the factors that affecting consumer’s and…
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This study aimed to compare the Historical Returns (Rit) in companies listed in Abu Dhabi Securities Exchange (ADX) with the return which calculated by Capital Asset Pricing Model (E(Rit)) for the same companies and periods, and trying to... more
This study aimed to compare the Historical Returns (Rit) in companies listed in Abu Dhabi Securities Exchange (ADX) with the return which calculated by Capital Asset Pricing Model (E(Rit)) for the same companies and periods, and trying to figure out the level of dispersion, distortions and differences between them, and trying to figure out the strengths and weaknesses for the CAPM to explain the variances which happened in the Annual Return.The researcher used the time series analysis to achieve the target of this study, using Microsoft Office Excel software to introduce some figure and graphs which considered as output from Scatter charts, which are often used to find out if…
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Despite of the remarkable prosperity witnessed by the Jordanian tourism sector since early 2004, and growing the contribution in the national economy, but the negative effects of the global financial crisis which broke out in the second... more
Despite of the remarkable prosperity witnessed by the Jordanian tourism sector since early 2004, and growing the contribution in the national economy, but the negative effects of the global financial crisis which broke out in the second half of 2008 and gripped on the global economy, has affected this sector and others sectors. And the implications of the crisis began on the tourism sector to emerge since December 2008, where the number of the arrivals tourists to Jordan dropped in that month by to 15% compared to the same month of 2007. This study aimed to highlight and analyze repercussions of the global financial crisis on the tourism sector in Jordan, through clarify the nature of the current crisis, and select the channels their impact on the tourism sector, as well as discuss the foundations of the ways to help the sector out of the crisis. The study concluded to the significant effect of each of the median income & relative prices on tourism demand, while not find significant...
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The role of information technology in the process of improving the efficiency of audit has a negative effect on the quality of the review process, But the derived benefits from use the recent methodologies Auditing in the field of actual... more
The role of information technology in the process of improving the efficiency of audit has a negative effect on the quality of the review process, But the derived benefits from use the recent methodologies Auditing in the field of actual efficiency associated mainly with the disposal of the old methods and procedures that associated with old methodologies more than related to the methods and procedures for the modern methodologies. It also we provide get to another result that the use of information technology in various fields of auditing will help to improve the efficiency and effectiveness of the review process, despite the existence problems that impede embarking to make serious decisions in order to exploit information technology leads to improved efficiency and effectiveness. Keywords: Information Technology; Information Systems; Auditing; the Audit Profession; Accounting Systems;
In the last years we can see increased in attention of disclosure & transparency, because it have an important role to providing the necessary information that will help to improve & understand the financial instrument and improve the... more
In the last years we can see increased in attention of disclosure & transparency, because it have an important role to providing the necessary information that will help to improve & understand the financial instrument and improve the joint-stock companies performance in order to provide specific information to be used .then the companies can take the appropriate accounting policies and the best way to risk management, because all the investors need to achieve those goal and maximization wealth in legitimate ways. This study reached to the existence of the basis of an arbitrator & effective governance rules through fit the requirements of the rules of governance with the amount of disclosed in the joint-stock companies under study, that provide a regulatory framework that will help to give an effectively controls all aspects of governance and corporate performance and provide clear legislation sets out the responsibilities to ensure that the interests of public in joint-stock compan...
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Modern research on feds highlights the significance of hard budget constraints and a strong central government to satisfy intergovernmental economic conflicts. The sharp political crisis that shook America reached to the settlement did... more
Modern research on feds highlights the significance of hard budget constraints and a strong central government to satisfy intergovernmental economic conflicts. The sharp political crisis that shook America reached to the settlement did not come out of any team victorious, whether President Barack Obama or his opponents Republicans, where Washington avoided disaster at the last minute approval of the text is likely stalled in the payback of their payments, and reopen the federal’s department which was paralyzed for more than two weeks.This article responds to the theoretical shortcomings with reference to the evolution of political crisis at the regional level and the representation of those regions at the national level. While both houses of Congress passed after 16 days of disruption, to settle out of the crisis, where they vote on raising the debt ceiling, and provides summary agreed to give the green light for the budget short-term extends until January 15, and to increase the de...
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This study aimed to identify the dimensions of the financial analysis and its advantages and how to benefit from it; in predicting stock prices by testing group of financial ratios and find a model quantitatively can be relied upon to... more
This study aimed to identify the dimensions of the financial analysis and its advantages and how to benefit from it; in predicting stock prices by testing group of financial ratios and find a model quantitatively can be relied upon to predict the price per share of the industrial sector in the Amman Stock Exchange in order to help investors make rational decisions when they the investment process. To achieve this purpose has been tested three financial ratios for a sample of 30 companies listed their shares in the financial market, where data has been relying on published financial statements for its annual information. These ratios have been analyzed using the method of statistical known as a multiple regression to find the best model for the industrial sector of the financial market, which includes group of ratios (Many Variables) of Finance in which they can predict the price of stock in companies listed on the Amman Stock Exchange by this classification. Has been reached model f...
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PurposeThis study investigates the effects of the COVID-19 outbreak on daily stock returns for the six major affected WHO Regions, namely: Africa, Americas, Eastern Mediterranean, Europe, South-East Asia and Western... more
PurposeThis study investigates the effects of the COVID-19 outbreak on daily stock returns for the six major affected WHO Regions, namely: Africa, Americas, Eastern Mediterranean, Europe, South-East Asia and Western Pacific.Design/methodology/approachThis study uses an event study method and panel-data regression models to examine the effect of the daily increase in the number of COVID-19 confirmed cases on daily stock returns from 1 March to 1 August 2020 for the leading stock market in major affected countries in the WHO regions.FindingsThe results reveal an adverse impact of the daily increasing number of COVID-19 cases on stock returns and stock markets fell quickly in response to the pandemic. The findings also suggest that negative market reaction was strong during the early stage of the outbreak between the 26th and 35th days after the initial confirmed cases. We further find that stock markets in the Western Pacific region experienced more negative abnormal returns as compar...
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This Book will discuss how to value businesses in Marketplace like the importance of business valuation and shows how to adapt the model to bonds, preferred stock, common stock, Risk & Return, CAPM and Portfolios. And This book discuss... more
This Book will discuss how to value businesses in Marketplace like the importance of business valuation and shows how to adapt the model to bonds, preferred stock, common stock, Risk & Return, CAPM and Portfolios. And This book discuss Capital structure as a part of all kinds of business activities, which are decided by the size, and nature of the business concern. Capital may be raised with the help of various sources. Adding the theories of Capital structure and the Cost of Capital.
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The results of the study suggested that corruption and GDP growth are not significantly associated, or, in the case of the GCC countries, might be positive associated, thus contradicting some earlier findings about the relationship... more
The results of the study suggested that corruption and GDP growth are not significantly associated, or, in the case of the GCC countries, might be positive associated, thus contradicting some earlier findings about the relationship between corruption and economic growth (Mauro, 1995; Meon & Sekkat, 2005; Mo, 2001). These results are, however, subject to the numerous limitations of the study. To begin with, because the GCC countries were the focus of the research, corruption data could only be drawn since 2003; that was the first year in which TI (2014) presented corruption data for the GCC countries. It is possible that the relation between corruption and economic growth become apparent over a longer timespan than the one utilized in this study. Second, there could be time effects in the relationship between corruption and GDP growth that were not considered in this study. For example, corruption might have lagged GDP by two or more years, whereas the lag in the study was for only o...
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This study aims at evaluating the relationship between stock returns in industrial companies listed on Amman Stock Exchange (ASE) and each of the systematic risk and financial leverage. Stock returns (Rit) are measured through the... more
This study aims at evaluating the relationship between stock returns in industrial companies listed on Amman Stock Exchange (ASE) and each of the systematic risk and financial leverage. Stock returns (Rit) are measured through the equation of returns divided by acquisition period. Whereas, systematic risk is measured by beta coefficient (β) using the market model, while the financial leverage (Lev) is expressed by debt ratio. Data concerning the variables of the study were collected comprising 48 industrial companies listed in Amman Stock Exchange for the period between January 2000 and December 2009. This task was accomplished in order to determine the relationship between stock returns as a dependent variable, and each of the systematic risk & financial leverage as independent variables. It should be noted that the study shows a statistically significant relationship between dependent variable and independent variables, it also found that these independent variables explain the 4....
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How to cite this paper: AboElsoud, M. E., Al Qudah, A., Paparas, D., & Bani-Mustafa, A. (2021). The federal funds rate effect on subprime mortgage crisis management: An ARDL approach [Special issue]. Journal of Governance & Regulation,... more
How to cite this paper: AboElsoud, M. E., Al Qudah, A., Paparas, D., & Bani-Mustafa, A. (2021). The federal funds rate effect on subprime mortgage crisis management: An ARDL approach [Special issue]. Journal of Governance & Regulation, 10(2), 226–237. https://doi.org/10.22495/jgrv10i2siart4 Copyright © 2021 The Authors This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0). https://creativecommons.org/licenses/by/
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Abstract This study aimed to identify the dimensions of the financial analysis and its advantages and how to benefit from it; in predicting stock prices by testing group of financial ratios and find a model quantitatively can be relied... more
Abstract
This study aimed to identify the dimensions of the financial analysis and its advantages and how to benefit from
it; in predicting stock prices by testing group of financial ratios and find a model quantitatively can be relied
upon to predict the price per share of the industrial sector in the Amman Stock Exchange in order to help
investors make rational decisions when they the investment process. To achieve this purpose has been tested
three financial ratios for a sample of 30 companies listed their shares in the financial market, where data has
been relying on published financial statements for its annual information.
These ratios have been analyzed using the method of statistical known as a multiple regression to find the best
model for the industrial sector of the financial market, which includes group of ratios (Many Variables) of
Finance in which they can predict the price of stock in companies listed on the Amman Stock Exchange by this
classification. Has been reached model for the industry where it appeared that the industry was affected by
several variables affect the share price of this sector is the ratio of market value to book value and the percentage
of the book value per ordinary share and the study concluded that it can rely on a set of financial ratios for each
of the sectors (classified by the Palestine Securities Exchange) to predict the price of the arrow, study also
recommended increased attention to the financial statements and transparency in the preparation and disclosure
of the data and prepared according to international accounting standards, and it can an investor rely on financial
analysis of the financial statements when making investment decisions.
Keywords: Capital Asset Pricing Model (CAP.M), General Accounting Accepted Principle (GAAP), Earnings
per Share (EPS), Book Value of share, Market Value of share, Stock Price.
This study aimed to identify the dimensions of the financial analysis and its advantages and how to benefit from
it; in predicting stock prices by testing group of financial ratios and find a model quantitatively can be relied
upon to predict the price per share of the industrial sector in the Amman Stock Exchange in order to help
investors make rational decisions when they the investment process. To achieve this purpose has been tested
three financial ratios for a sample of 30 companies listed their shares in the financial market, where data has
been relying on published financial statements for its annual information.
These ratios have been analyzed using the method of statistical known as a multiple regression to find the best
model for the industrial sector of the financial market, which includes group of ratios (Many Variables) of
Finance in which they can predict the price of stock in companies listed on the Amman Stock Exchange by this
classification. Has been reached model for the industry where it appeared that the industry was affected by
several variables affect the share price of this sector is the ratio of market value to book value and the percentage
of the book value per ordinary share and the study concluded that it can rely on a set of financial ratios for each
of the sectors (classified by the Palestine Securities Exchange) to predict the price of the arrow, study also
recommended increased attention to the financial statements and transparency in the preparation and disclosure
of the data and prepared according to international accounting standards, and it can an investor rely on financial
analysis of the financial statements when making investment decisions.
Keywords: Capital Asset Pricing Model (CAP.M), General Accounting Accepted Principle (GAAP), Earnings
per Share (EPS), Book Value of share, Market Value of share, Stock Price.