Academy of Accounting and Financial Studies Journal (AAFSJ) is a professional periodical that offers open access forum to publish the latest and most relevant research innovations in this field. Affiliated to the Allied Academy publications, the journal adheres to double blind peer review to ensure the originality and quality of the publication.

The Academy of Accounting and Financial Studies Journal (AAFSJ) is a professional journal that provides an open access platform for publishing the latest and most relevant research innovations in the field. Affiliated with Allied Academy publications, the journal adheres to a double-blind peer review process to ensure the originality and quality of its publications.

《Academy of Accounting and Financial Studies Journal》是一本专业期刊，提供开放获取的平台，旨在发布该领域最新和最相关的研究创新。该期刊隶属于Allied Academy出版，遵循双盲同行评审制度，以确保出版物的原创性和质量。

Academy of Accounting and Financial Studies Journal

The paper aims at investigating the Accounting and Finance theories on the best way of financing the firms. On the one hand, the agency theory perspective conflicts with the aggregate of leverage in the firm’s capital structure (CS). While Modigliani and Millers' argued that debt is preferred in some circumstances. Therefore, the effect of equity and debt levels on a firm’s value at a specific Jordanian industrial market is our concern. The study sample includes 34 Jordanian Industrial firms during 2001-2015 listed in Amman Stock Exchange (ASE). The study used multiple stepwise regression models analysis. The study measures the firm value using Earning Per Share (EPS) as a dependent variable. Also, the debt divided by the total assets (DR) and the total liability ratio divided by total equity (DE) isa measurement of the external sources of CS. Furthermore, the total equity ratio divided by total assets (EA) is a measurement of the internal sources of CS. The result of the study indicated a negative effect on capital intensive measured by (DR) and (DE) on firm value in all models. Alternatively, the study found a positive impact on capital intensive measured by (EA) on firm value. Finally, the study established the positive effect of corporate characteristics sales growth, profitability and firms size on firm value in all models under the study. Higher debt is not preferred in Jordan's industrial sector, according to the study. Thus, internal resource in terms of capital intensive equity is better than other resources.

Manal Sulieman Abughniem

Ahnaf Ali Alsmady

Mohammad Adnan Hilal Al Aishat

Omar Ikbal Tawfik

Academy of Accounting and Financial Studies journal

Capital Structure Effect on Firms Value from Specific Industry Perspective: Jordanian Industrial Sector as A Case to Study

特定行业视角下资本结构对企业价值的影响：以约旦工业部门为例

In this study, we investigate the relationship between customer satisfaction and firms being selected as admired firms. Also, we confirmed the ESG effect on this correlation. Based on 8,126 Korean firms, we use regression analysis to examine the relationship between customer satisfaction and being designated as admired firms, using Korean firms from 2014 to 2018. Our study reports that the firms with satisfied customers are likely to be admired in the market. We also found when the firms are actively engaged in ESG, customer satisfaction plays a role positively, leading to being selected as admired. Among ESG index, the environment index positively impacts on the relationship between customer satisfaction and admired firms. Our findings suggest that customer satisfaction is an intangible asset that affect firm value positively. Our study has contributed that we examine the impact of customer satisfaction on non-financial information, explaining firm value. As we test the effect of firms’ customer satisfaction, we expanded the social contribution including environment, society and governance.

Jaehong Lee

Suyon Kim

Are Firms with Satisfied Customers Admired

拥有满意客户的企业是否受人敬佩

The study aimed to demonstrate the possibility of applying the tax accounting system and its effectiveness on e-commerce in Jordan. To achieve the objectives of the study, a questionnaire was developed and distributed to the authorized income and sales tax assessors within the capital Amman, whose number is (293) estimates. The study was based on the simple random sample, where (250) questionnaires were distributed and (205) were retrieved from them, i.e. 82% of the distributed questionnaires, and (3) questionnaires were excluded for their lack of suitability, and thus the number of valid questionnaires for the purposes of statistical analysis was (202) That is, a rate of (80.8 %.( A set of statistical methods suitable for the study were used through the Statistical Package of Social Sciences (SPSS) software. The results of the study are the possibility of applying the tax accounting system in its dimensions to e-commerce in Jordan, and the existence of a positive relationship between the study variables. The study recommendations are to develop current tax laws in line with the technological developments of global e-commerce laws, to raise the efficiency of income and sales tax assessors through scientific and practical courses, to increase international cooperation in the field of e-commerce and to benefit from the experiences of developed countries in this field.

Rafat Salameh Salameh

Omar Khader Al Fatafta

Taha Barakat Al Shawawreh

The Possibility of Applying the Tax Accounting System and Its Effectiveness on Electronic Commerce in Jordan

约旦电子商务中应用税务会计制度的可能性及其效果

The board structure of an organization is a significant factor in determining the success and failure of an organization. The board of directors influences the public image of an organization. The stakeholders of an organization need to be well aware of the current condition without including the managerial adjustments within the financial statements. The current study is focused on earning management and the influence of the independent board of directors within the financial institutes of the kingdom of Saudi Arabia. Earning management has a negative impact on the future progress and public image of the working institute. Jones modified model is applied to analyze the data of five different leading banks of the Kingdom of Saudi Arabia. The Regression analysis has presented results illustrating the non-significant relationship between the variables. The study has shown little to no relationship between earning management and independence of the board of directors; as, the high-level independence of the board of directors has a nominal impact on earning management activities recorded by the financial institutes of the Kingdom of Saudi Arabia.

Rasha Fallatah

Earning Management and the Independence of Board of Directors: A Study of Financial Sectors in Saudi Arabia

盈余管理与董事会独立性：沙特阿拉伯金融部门研究

This study investigates whether an issuer’s accounting reporting attributes have impact on the initial returns of bond offerings in emerging markets of Korea. In particular, we focus on the critical role of accounting conservatism on corporate straight bond pricing. Empirical results show that in general the initial returns for newly issued bonds tend to be negative (overpriced). More importantly, the degree of overpricing positively relates to the level of conditional accounting conservatism, suggesting that accounting conservatism mitigates information asymmetry in public debt financing. In addition, we find that this effect is more pronounced for bond issuances with poor credit ratings. It indicates that conservative accounting in the form of timely profit (or loss) recognition improves contracting efficiency in debt market by reducing cost of debt capital. This study addresses an important gap in the literature by building richer insights on how the approach to accounting policies determine the pricing strategy of corporate bonds at an early stage in condition to the focal firm’s credit risk.

Kyongsun Heo

Sara Ryoo

The Effect of Accounting Conservatism on The Pricing of Newly Issued Bonds: Evidence From Korea

会计保守主义对新发行债券定价的影响：来自韩国的证据

I examine whether CFO management affects stock price crash risk. CFO management, which is known as a tool used to inflate reported CFO, can cause stock price crash risk by promoting the accumulation of bad news. I find that CFO management has no effect on stock price crash risk. But there are some firm characteristics that associated with incentive to inflate reported CFO. I find that the effect of CFO management on stock price crash risk is greater for under the specific firm characteristics. The results highlight the bad side of CFO management by providing evidence that under specific firm characteristics, CFO management can cause stock price crash risk.

Giman Nam

The Effect of CFO Management on Stock Price Crash Risk

首席财务官管理对股价崩盘风险的影响

The study examines the extent to which strategic decision and succession planning could extend the influence of corporate governance to performance within the context of family-owned businesses. The study relied on survey method for the data gathering and covariance based structural equation modelling for statistical analysis. The study finds that strategic decision and succession planning play a critical role in the relationship between corporate governance and the financial performance of family-owned businesses. The research design of this study relied on the stewardship theory to further our understanding of the relationship among corporate governance, strategic decision, succession planning and financial performance of family-owned businesses. This relationship includes how strategic decision and succession planning play critical role in the unfaltering relationship between corporate governance and the performance of family-owned firms. The study highlights the need for corporate executives to appreciate the essential role of strategic decision-making and succession planning in ensuring the sustainability and viability of family-owned businesses.

Lexis Alex

er Tetteh

Alphones Mawusi Kwasi Aklamanu

Laurus Lamptey

Michael Gift Soku

Prince Sunu

Paul Muda

Thompson Kubaje Aneyire

Corporate Governance and Family-Owned Business Performance: The Role of Strategic Decision and Succession Planning

公司治理与家族企业绩效：战略决策与继任规划的作用

This study aims to evaluate how financial expenditure and expenditure structure affect training outcomes at public universities in Vietnam. The data used for this study is collected from statistics from the Ministry of Education and Training, the Ministry of Finance, and the State Treasury between 2013 and 2017. To analyze the data, the research employs the quantile regression analysis method. In this research, the training outcomes at public universities are evaluated using indicators such as graduates' income, the percentage of graduates who have jobs, and the level of satisfaction with labor use by enterprises. The study reveals that the financial expenditure and expenditure structure at public universities in Vietnam have an impact on training outcomes at various quantiles. Based on the findings, the study recommends policies to improve the financial expenditure effect and student training outcomes at Vietnam's public universities.

Vu Thi Lien

Nguyen Van Hieu

Impact of Financial Expenditure on Training Outcomes at Public Universities in Vietnam

越南公立大学财务支出对培训成果的影响

The study aims to investigate the factors influencing internal audit effectiveness (IAE) in the companies listed in Muscat Securities Market (MSM). The selected accounting information system (AIS) factors were reliability, relevance, flexibility and integration. A quantitative approach using structural equation modelling (SEM) was utilised as the main research design. The data was collected from a group of respondents comprising financial\accounts manager, accountant, internal auditor, audit committee member through simple random sampling. The actual survey questionnaire was distributed to 397 respondents, and the data were analysed using SEM to determine the factors influencing IAE in the companies listed in MSM. The study results indicated that AIS factors have a significant influence on IAE. The positive significant relations were reliability (β =0.255, p<0.05), followed by relevance (β= 0.200, p< 0.05), flexibility (β=0.197, p<0.05) and integration (β = 0.107, p<0.05). In conclusion, reliability is the most dominant AIS factor that influence on IAE. The main practical implication of the study is that companies listed in MSM should focus on the improvement of AIS factors to enhance IAE. To the researcher’s knowledge, this study is the first of its kind in Oman that investigate the factors influencing IAE in the companies listed in MSM.

Haider Alaaldin Alsabti

Azam Abdelhakeem Khalid

Factors Influencing Internal Accounting and Financial Audit Effectiveness: Evidence from Oman

影响内部会计和财务审计效果的因素：来自阿曼的证据

The transformation of the world financial market under the influence of global imbalances necessitates strengthening measures to strengthen the economic growth of countries. The article substantiates that the main component of financial development is the system of taxes and fees with the help of which the strategic functions of any state are provided. Scientific approaches and theoretical aspects to the formation of the taxation system are structured. Scientific and methodological aspects of the formation of the taxation system in modern conditions have been developed, which, in contrast to the existing ones, are based on the basic principles, types and forms of taxes and fees, taking into account the peculiarities of the national economy and the specifics of its functioning. The periodization of the main stages of the convergence of tax systems in the world has been developed, which is substantiated and based on the historical approach of the development of taxes as an economic category and religious views. On the basis of the proposed periodization of the main stages of convergence of tax systems in the world, the diversity of the functioning of the taxation systems of the countries of the world is highlighted, which necessitated their clustering into homogeneous groups according to the levels of tax burden. To classify the countries of the world by the level of tax burden, a multidimensional cluster analysis of the level of tax burden was carried out, which made it possible to determine that the most attractive for investors are taxes in Arab countries, which form an acceptable climate for ensuring economic growth. To assess the impact of the tax burden on the economic growth of the United Arab Emirates, a correlation-regression analysis was carried out. The obtained results of the study, in contrast to the existing ones, made it possible to determine the significant role of taxes in the formation of strategic indicators of economic development and the volume of GDP. The practical significance of the research results lies in the fact that the developed scientific and methodological approaches to the formation of the taxation system in modern conditions can be applied in practice in the formation of the financial strategy of the state, and the developed aspects of multidimensional cluster analysis will determine the key factors of the tax burden in each country. Interpretation of the correlation-regression analysis of the impact of the tax burden on economic growth will make it possible to determine the main measures to resolve the dependence of taxes and the volume of the country's GDP.

Hassan Ali Al-Ababneh

Eyad. M. Malkawi

Arwa Hussein Amoush

Olha Popova

Maryna Zelinska

Mykhailo Kantor

Methodical Approaches to Assessing the Impact of the Tax Burden on the Economic Growth of Arab Countries

评估税收负担对阿拉伯国家经济增长影响的系统方法

Publication Information	Publisher: Allied Academies，Publishing cycle: ，Journal Type: journal，Open Access Journals: No
Basic data	Year of publication: 2009，Proportion of original research papers: 0.00%，Self Citation Rate:N.A.， Gold OA Rate: 0.00%

Academy of Accounting and Financial Studies Journal

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