Year 2018 , Volume  7, Issue 2, Part 2
1Financial Accounting and Reporting: Empirical Evidence on Small and Medium-Sized Enterprises in Malaysia
Pages: 423-433
Details (1366)
The research investigates the financial accounting and reporting of small and medium-sized enterprises (SMEs) in Malaysia. The aims are to discover features of SMEs’ financial reporting and to assess its costs and benefits to the stakeholders. This study adopts a positivist paradigm. The research design was drawn from a survey of 150 owner-managers of SMEs in the Northern Corridor Economic Region of Malaysia. The data is analysed using both univariate and multivariate analyses. Results reveal that financial information in the SMEs’ financial statement is incapable to satisfy the main users’ requirements. Results indicate that the main weaknesses of SMEs’ financial statements are in terms of financial statements’ preparation with outdated information, tax motivation and limited disclosures. This study makes several important contributions to the existing studies of SMEs’ reporting, particularly in the literature related to information requirements of financial statement’s users and the financial reporting’s costs and benefits. The results of this research are of particular concern to SMEs, their accountants and stakeholders in Malaysia and other jurisdictions. Research findings should assist policymakers in formulating an appropriate policy on SMEs’ financial reporting. Keywords: Financial Reporting, Small and Medium-sized Enterprises (SMEs), Malaysia, Multivariate Analysis, Northern Corridor Economic Region (NCER).
2Factors Affecting Mass Customization and the Positively Impact on Customer Re-purchase Intention in Logistics Service Companies
Pages: 434-448
Details (1591)
Aims to investigate factors affecting mass customization and the impact on customer re-purchase intention in logistics service companies. This study refers to the mass customization project that provides theoretical and empirical results as the company proceeds and brings it into practice. Besides, it also is one of the few studies that explore the impact of mass customization in the service industry on customer satisfaction and intent to reuse the service. In addition, with a sample of 411 customers from two logistics companies in Vietnam and Myanmar, we checked out the hypothesis model using SEM model with LISREL statistical program. From this, it can be concluded that the relationship between mass customization project and customer satisfaction, then tested again whether has an affection of satisfaction on word of mouth dimension and the other two factors are re-purchase intention and trustworthy respectively. Finally, the final results note that half of the hypotheses are rejected but that is still a practical result that can be used to raise awareness and draw experience for companies which have used and still preceding the mass customization project. Keywords: Mass Customization, Customer Satisfaction, Customer Re-purchase Intention, LISREL, Logistics Service.
3The Development of Doctrine Parens Patriae in Indonesias Juvenile Justice System
Pages: 449-459
Details (755)
The future of the child is the future of a country, including the future of juvenile, who being in incarceration. Mostly, juvenile who dealing with incarceration unable to continue his/her education. It is worse when the juvenile put in same institution with adult offender. As a consequence, the juvenile is getting further from restoration. In Indonesia right now, the existence of special juvenile detention center (called Lembaga Pembinaan Khusus Anak / LPKA) is still new and not in all part of Indonesia. It is worse when LPKA still has prison paradigm which accentuate rough treatment. As consequence, the juvenile being more violent and effect to community respond to ex-juvenile delinquents. This article is normative research, equipped with empirical research to compare what the law regulate to the reality of juvenile justice system in Indonesia. This article use secondary data, consisting of primary, secondary and tertiary legal material. Authors analyze the data qualitatively and make a conclusion from it. The result show that to ensure the future, a state must play as a parents (parens patriae) to the juvenile. The using of law must consider the best interest of the child. Specifically, in Indonesia’s Juvenile Justice System, government through police officer, attorney or prosecutor, judge must put it first what juvenile needs than punish the juvenile in order to give a deterrent effect. Lastly, the role of LPKA as embodiment of state must prove advocacy, education, coaching, and protection to juvenile as a parent usually give to their children. Keywords: Doctrine Parens Patriae, Juvenile, Juvenile Justice System, Lembaga Pembinaan Khusus Anak (LPKA).
4Information Literacy and Sustainable Development
Pages: 460-466
Details (2002)
This paper examined the issue of sustainable development in the light of information literacy. Sustainable development which has been described as the development that meets the social, economic and technological needs of the present without compromising the ability of the future populace to meet their own needs; would be difficult to attain, if Nigerians still depend only on traditional literacy of only reading, writing and numeracy. This would be grossly inadequate to achieve sustainable development in this age of highly digitalized information communication technologies. There is need for individuals to access necessary information made possible with communication technologies. Access to vital information will enable each person to have equal rights to economic resources, access to basic services which eventually will lead not only to individual’s sustainable development but also that of the nation. The paper recommended that diverse strategies should be put in place to help citizens acquire information literacy and each person should acquire basic skills in accessing information through digital device, and that e-libraries should be encouraged in each institution of higher learning as information literacy is highly important to every sector of the economy. Keywords: Information Literacy, Sustainable Development, Libraries Literacy, Education.
5Modeling GHS-USD Exchange Rate in Ghana: Application of Stochastic Volatility Model
Pages: 467-475
Details (869)
A very significant input to monetary policymaking is estimating the current level of exchange rate. This paper examined the application of stochastic volatility of returns on the Ghana Cedis and US dollar ($) exchange rate. Stationarity of the dataset was achieved after differencing. Markov Chain Monte Carlo (MCMC) was used in the parameter estimation. A stochastic volatility (SV) was obtained with the level of log-variance = μ 10:8320, the persistence of log-variance- = 0:9285, and the volatility of log-variance = 0:660. Posterior density estimates, standardized residual plots as well as estimated volatilies were actualized. Keywords: Stochastic Volatility, Markov Chain Monte Carlo (MCMC), GARCH.
6Privatization of Bulk Terminal Operations and its Efficiency: The Case of Durres Port
Pages: 476-482
Details (1182)
Durres port is the main gateway to Albania and is one of the most important economic generators of the country. During the last couple of decades, this port has undergone a number of infrastructural and institutional transformations. All these investments and reforms have affected the port performance making it, a more modern and competitive port in the region. This paper aims at analyzing the effects of the institutional reforms in the improvement of the operational performance of the dry bulk cargo terminal of the port of Durres. These reforms combined with infrastructural investments have made the terminal and the port more competitive, environmentally friendly, safer and securer in all terminal operations. Based on the studied literature, statistics of the port and terminal, a comparison analyses are performed in order to compare the performance of the terminal before and after the privatization process. Comparisons are made among different PPI. The port at large, and the terminal itself have undergone a deep reformation and terminal performance indicators have been significantly improved. Apart of that, there is still room for improvement, regarding specific indicators, such as loading and unloading rate, environmental, safety and security standards of the terminal. Keywords: Terminal, Terminal Performance Indicators, Reforms, Concession.
7Audit Fees and Financial Reporting Quality: A Study of Listed Companies in Nigeria
Pages: 483-490
Details (1275)
This paper examines the relationship between audit fees and financial reporting quality of listed firms in Nigeria. We use 88 listed companies in Nigeria for the period of 2012 to 2016. The data were obtained from the annual reports of the listed firms and Thompson Reuters DataStream. Accruals model was used to represent financial reporting quality. A multiple regression was employed in the estimation model. The study reveals that higher audit fees are associated to lower level of discretionary accruals and thus imply higher financial reporting quality. The result also supports the resource dependence theory which proposes that higher percentage of financial experts in the board lessen the degree of accounting manipulation. The study provides an understanding to investors, policymakers and regulators about the pivotal role of audit fees in reducing accounting manipulation and in enhancing financial reporting quality in the listed firms in Nigeria. Keywords: Audit Fees, Discretionary Accruals, Financial Reporting Quality.
8Estimating the Probability of Bankruptcy Using Z-score and Distance to Default Model: An Application on Istanbul Stock Exchange
Pages: 491-503
Details (3444)
Since 2008, global crisis promoted individual businesses and multi-national corporations to file for bankruptcy, creating crucial social implications. Despite the fact that with the intrusion of governments and financial institutions to encourage the economy that has put corporations in billions of dollar of debt, reduces the prime rate to almost zero, increases unemployment rate and a decrease in the income rates. A countless opportunity was available to understand the facts of this economic fallout. It had become essential to predict the bankruptcy more seriously to minimize the economic crisis for corporate sector. The objective of the study was to examine the performance of Altman’s Z-score and Distance to Default model by data analysis to predict the chances of bankruptcy of Turkish stock listed companies between the years 2007 to the year 2016. This study also provides an overview on the subject of bankruptcies and their harmonic effects on the global economy. The result shows the projection that Z-score model clearly outperform in predicting the bankruptcy than Distance to Default model. Additionally, this research provides a better risk management to creditors, small businesses to improve their current operations to minimize failures and invest in healthy organizations and to short unhealthy ones. Keywords: Altman Model, Distance to Default Model, Bankruptcy Prediction, Credit Risk, Financial Ratios.
9The Impact of Applying IFRS (9) on Investors Decisions: An Applied Study on the Companies Listed on Amman Stock Exchange (ASE)
Pages: 504-522
Details (1258)
This research aims to examine the impact of applying IFRS (9) in the preparation of financial reports by taking into consideration: the scope, recognition, classification, and the measurement on the decisions of investors from the view point of brokerage managers, investment managers, and financial analysts in companies listed on the Amman Stock Exchange investment companies. The descriptive analysis methodology is used and the questionnaire is also used as a tool of collecting data for this research. Questionnaires have been distributed on a sample consisting of 33 investment firms listed on Amman Stock Exchange (ASE). The research finds that there is an impact of applying IFRS 9 by the scope, recognition, classification, and measurement on investors’ decisions. Keywords: Investment Decision, International Financial Reporting Standard (9), Scope, Recognition, Classification and Measurement.
10Factor Analysis of SERVQUAL Model in Technical and Vocational Education and Training Environment of Pakistan
Pages: 523-532
Details (513)
Technical and Vocational Education and Training (TVET) sector offers quality education to their students. Various scales are present in literature to quantify service quality of any service sector organization. TVET sector of Pakistan has not been explored yet and no suitable scale is defined for measuring service quality of TVET Pakistan. The purpose of this study is to examine validity of existing scale of Parasuraman for TVET sector of Pakistan. The data was collected and analyzed through Structural Equation Modeling (SEM). Results of the analysis indicate that SERVQUAL is reliable scale for measuring service quality of TVET sector of Pakistan. Keywords: SERVQUAL, TVET Pakistan, Services quality, Parasuraman, and Structural Equation Modeling.