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Investors expect internal control reports to improve disclosed information credibility by demonstrating effective risk management, compliance, and transparency. Investment culture influences these expectations by shaping risk perception, emphasizing long-term stability, and setting standards for corporate governance. Thus, investment culture emphasizes robust internal control to enable a more thorough evaluation of investment opportunities. This study examines the relationship between internal control reporting and investor perception of disclosure credibility mediated by investor culture. The survey approach involved 166 respondents from 57 Jordanian brokerage firms. The partial least squares (PLS) method was used for analysis. The results showed that investor perception of disclosure credibility was influenced by internal control reporting as PV 0.000 and that investor culture positively mediated between the two variables as PV 0.000. Investors thus rely on internal control reporting to ensure the credibility of disclosure and aid their investment decisions. This study provides foundational knowledge to policymakers to design successful internal control reporting policies and support systems. Acknowledgment I’m indebted to the University of Tabuk – KSA for the support of this article.

Abstract The objective of this study was to analyze how the COVID-19 crisis has affected the determinants and predictability of the domestic credit rating issued by Fitch Ratings in Argentina. Additionally, it aims to evaluate the effects of credit rating agencies using the through-the-cycle method. Given the subjective nature of credit rating categorization, researchers have developed models for explaining and predicting credit ratings. This subjectivity is significant during economic events. Therefore, it is important to investigate whether the factors that determine and predict credit ratings remained consistent before and during the COVID-19 crisis. This paper contributes significantly to understanding how the application of the through-the-cycle method affects the determinants and predictability of credit ratings in economic crises. Theapplication of the through-the-cycle method by credit rating agencies as a criterion during the COVID-19 crisis resulted in a breakdown of the usual correlation between determinants and credit rating. Understanding whether variables are permanent or transitory components is crucial for investors and borrowers to anticipate credit rating changes during economic downturns. The dependent variables are the long-term domestic credit rating categories. The independent variables are derived from the Fitch Ratings credit rating methodology and the literature, which includes quantitative and qualitative variables. The statistical methods used are ordinal logistic regression, generalized ordinal logistic regression, and support vector machines. The COVID-19 crisis was considered a transitory event due to the application of the through-the-cycle approach by rating agencies. During the pandemic, specific determinants of credit ratings are not considered due to their transitory nature. The study identifies interest coverage ratio and competitive position as transitory components. This approach led to less predictability but a more stable credit rating.

An independent institution gives appreciation to companies in Indonesia that have published their sustainability reports by ranking their sustainability reports in the Asia Sustainability Reporting Rating. This institution plays a role in facilitating and encouraging companies, organizations and other entities in Indonesia to adopt good sustainability reporting practices. This ranking factor is predicted to influence the movement of abnormal returns so that it can influence value relevance through the earnings response coefficient. The aim of this study is to reveal the relevance of value in order to obtain empirical evidence regarding the influence of sustainability reports, sustainable report ratings and earnings persistence on the earnings response coefficient. The research sample was 130 companies in Indonesia that were included in the Asia Sustainability Reporting Ranking for the period 2019 to 2022. This paper uses a quantitative multiple linear regression method to test the hypothesis. The research results show that consistent profits can be predicted from the past and make a positive contribution to future earnings response. A company transparently discloses its performance in the sustainability aspect, thereby making the profit response more positive. Companies with high sustainability ratings tend to get a more positive profit response from the market and stakeholders. This study suggests that management and company owners in Indonesia are aware of the need to pay attention to long-term sustainability through the publication of sustainability reports to become a company’s commitment to implementing sustainability and minimizing risks arising from the company’s economic, social and environmental activities. AcknowledgmentsThe authors would like to thank the Directorate of Research, Community Service and Publications (DPPMP) of Stikubank University for supporting the funding of this research. Thanks also to fellow FEB lecturers who have helped provide the facilities needed for this research.

This paper aims to analyze the quality of financial accounting information of public higher education institutions with financial autonomy in the Republic of Moldova and its dependence on their financial autonomy. For this purpose, financial statements and other relevant information available on the websites of public universities with financial autonomy in the Republic of Moldova were analysed. The analysis focused on the following research questions: i) is the quality of the information ensured in terms of the regulatory framework and user requirements? ii) is the quality of the information ensured in terms of the requirements of the regulatory framework and user requirements? iii) Is the quality of information related to the financial autonomy of universities? iiii) How can the enhancement of financial autonomy influence the quality of information? The results show that public higher education institutions with financial autonomy ignore the requirements of the regulatory framework on financial reporting and publication of financial statements, head’s report and auditor’s report on their websites. As a result, users do not have access to financial and accounting information and their conclusions and decisions may be distorted and unjustified. To rectify this, the financial management of the institution needs to be strengthened and all the opportunities afforded by its financial autonomy must be used. At the same time, this research depicts through bibliometric analysis scientific productivity, impact of scientific research, trending topics, and others. Thus, the methodological tools characteristic of the social sciences, quantitative and qualitative methods, were used to carry out the scientific approach.

The consequences of the Covid-19 pandemic on the quality and scope of financial information prepared by accounting are complex. The scope of the financial statement and the obligation to audit depend on the classification of units based on their size. The required scope is narrower for micro and small entities than it is for larger organizations. The crisis may have influenced the size of entities and by that their classification and the scope of information that they need to disclose. The goal of this article is to verify whether post-pandemic demands for information, assuming it will be the same as pre-pandemic, can be fulfilled. The accessibility of information is connected with the level of security of engaging in business activities. Making changes in the criteria of an entity’s inclusion as an SME and in its obligation to audit can be one solution for the problem of insufficient information. The methodology used in this study is analysis of regulations and deductive reasoning. It showed that the effects of the pandemic, particularly the increase in the number of micro and small entities, can limit the accessibility of information. This article contributes to the scientific literature by displaying and justifying the need to verify the classification criteria of businesses and other entities.

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This paper examines the impact of entrepreneurship on the efficiency of household financial portfolios by constructing Sharpe ratios and Sortino ratios of seven kinds of financial assets, based on data from the 2013, 2015 and 2017 China Household Finance Survey (CHFS), in conjunction with the returns of the financial asset index of China from 2010 to 2018. Employing CRE regressions, Heckman two-stage models and PSM methods, we find that undertaking entrepreneurship helps to increase the efficiency of household portfolios significantly. This study also verifies that entrepreneurial households improve their portfolio efficiency through financial information by testing the moderating effects of social network, business experience and financial literacy. In addition, this study shows that entrepreneurial households generally adopt a less diversified strategy in asset allocation than do non-entrepreneurial households. [ABSTRACT FROM AUTHOR]

Finansal okuryazarlık, bireylerin finans konularında bilgi temelli kararlar almasını sağlayan yeterlilik düzeyidir. Finansal okuryazarlık bireylerin bütçe, sigorta, tasarruf, yatırım, kredi gibi finansal konularda bilgi sahibi olmalarını, finansal konularda doğru kararlar almalarını ve doğru davranışlar göstermelerini içermektedir. Finansal okuryazarlık, toplumun her kesimini ve öğrencileri yakından ilgilendirmektedir. Bu çalışmanın amacı, öğrencilerin finansal bilgi, tutum ve davranışlarını araştırmak ve finansal okuryazarlık seviyelerini incelemektir. Çalışma kapsamında, Hatay Mustafa Kemal Üniversitesi öğrencileri üzerine anket çalışması yapılmıştır. Analiz sonucunda öğrencilerin finansal okuryazarlık düzeylerinin orta seviyede olduğu tespit edilmiştir. Öğrencilerin finansal okuryazarlık seviyelerinin arttırılmasında ekonomi ve finans alanıyla ilgili eğitim almalarının olumlu katkı sağladığı sonucuna ulaşılmıştır.

Within the decision-making process, investors are interested in finding the most effective solutions that will allow them to obtain short-term benefits. Current economic environment is characterized by the emergence of new financial instruments that can assist investors to diversify their investment portfolio. Crypto-currencies represents a category of financial assets that can be used by investors to reduce risk and achieve significant returns. Therefore, the study intends to analyze the financial behavior of investors in the moment of publishing the financial statements. Financial statements could have a positive or negative influence on the investment portfolio and structure. The issue analyzed by this study is represented by the ability of the cryptocurrency Bitcoin to be considered as an alternative investment asset. The study is divided into two parts. In the first part, the study presents the review of literature about value-relevance, cryptocurrency term and speculative bubble. The second part presents the research methodology and results. The results of the study validate the hypothesis of this study, cryptocurrency Bitcoin being a financial asset that can be used as an alternative investment asset for diversification of investment portfolio.

Sustainability and transparency issues are becoming trending in the nature of corporate reporting. Stakeholders are accused to bring together all financial and nonfinancial metrics into one integrated report. The purpose of this study is to determine the effect of integrated reporting toward corporate performance. Integrated reporting measurement uses the construct adopted from IIRC. The research sample in this study is basic and chemical industry sector that listed in the Indonesia Stock Exchange in 2017. The reason in choosing those industries as a research subject is because the basic and chemical industry sector is recorded as a high growth industry sector in 2017. This study uses a linear regression as an analysis tool. This study concluded that integrated reporting has significant effect toward corporate performance.

Considering the vigorously dynamic fluctuations in the monetary condition, particularly in financial/budgetary markets, it is urged to improve speculators’ money managing knowledge. Financial proficiency involves making well aware and efficient financial choices. The present examination explores the socio-economic factors defining Pakistani investors’ financial literacy and effects of financial literacy on stock market investment decision. A (questionnaire) survey was developed based on 3 sections: The primary section included the measuring of demographic characteristics of respondents, the secondary was based on measuring financial literacy of respondents, whereas the last section was dedicated to measuring stock market investment decision of respondents. Purpose – The motivation behind this study is to evaluate the financial proficiency of individual speculators/investors of the Karachi city of Pakistan who put resources into the Pakistan stock exchange, local financial market in Karachi. Likewise, it inspects the connection between financial education and the participation of the socio-economic-demographic components which influence the investment choice. Design/methodology/approach – we articulated a modified questionnaire for our investigation, separated into three sections. The first part of which was dedicated to statistics of demographic factors. The subsequent part highlights factors influencing the speculation choice of the Pakistani speculators. The last section is committed to financial literacy utilizing examination-type, true and false, questions and incorporates 10 questions. Convenient sample of 231 of Pakistani national financial specialists/investors is utilized for this purpose. Findings – The outcomes show that the financial literacy of Pakistani speculators’ is relatively higher than the average expected level. The financial education seen to be influenced by salary, sex, and employment status and work place activity. financial education exists paying little heed to the age of the respondents. We observed a “significant difference in the level of financial literacy between groups of respondents as per their sexual orientation. More specifically, females have a lower level of financial education than males. At last, the outcomes show that there is a significant relationship between financial literacy and investment decision. Results likewise show that respondents with higher financial literacy have higher stock holding as compared with those with low financial literacy.” Originality/value – The present examination is viewed as significant and unique being one amongst the very few conducted in Pakistan's situation and Pakistani context. As far as we possibly know, no such examinations have been led with respect to estimating financial literacy in Pakistan or the connection between financial literacy level and the variables that influence the investment choices.

The consequences of the Covid-19 pandemic on the quality and scope of financialinformation prepared by accounting are complex. The scope of the financial statement and theobligation to audit depend on the classification of units based on their size. The required scope isnarrower for micro and small entities than it is for larger organizations. The crisis may haveinfluenced the size of entities and by that their classification and the scope of information that theyneed to disclose. The goal of this article is to verify whether post-pandemic demands forinformation, assuming it will be the same as pre-pandemic, can be fulfilled. The accessibility ofinformation is connected with the level of security of engaging in business activities. Makingchanges in the criteria of an entity’s inclusion as an SME and in its obligation to audit can be onesolution for the problem of insufficient information. The methodology used in this study is analysisof regulations and deductive reasoning. It showed that the effects of the pandemic, particularly theincrease in the number of micro and small entities, can limit the accessibility of information. Thisarticle contributes to the scientific literature by displaying and justifying the need to verify theclassification criteria of businesses and other entities.

The main aim of the article is to attempt to classify the integrated report as a financial or non-financial report by analyzing its information content. The article also aims to determine how the form of the integrated report was changing and what relations existed between this type of report, the financial statement and the management report in 2013–2016. The research conclusions were based on analysis of integrated reports published by companies listed on the Warsaw Stock Exchange in the years 2013–2016. Reports were collected from the websites of the surveyed companies. As part of the study, it was found that there was no uniform form and scope of this report, although results of the research confirmed that it was a report containing mainly non-financial information. Financial information occurred occasionally or did not occur at all. Additionally, it should be emphasized that most non-financial information is original information that only appears in this report.

After decades of deregulation and innovation, contemporary financial markets remain firmly anchored in law and legal institutions. The idea that private financial actors simply want to escape government oversight and regulation is simplistic as private interests find the coercive powers of the state too useful to forgo. Instead, such actors engage law selectively to create a more certain environment for themselves and their profit-seeking activities. Contract law adds certainty to financial transactions; law shapes how financial actors use information and exploit information technology; law constitutes financial values; and law allows financial institutions to be turned into assets. Law's application is shaped by changing conceptions of risk, as well as by new business models for financial institutions. [ABSTRACT FROM AUTHOR]

In this article we take a closer look to the possible effects of adopting the IAS / IFRS standards around the globe. The need for a common financial reporting language is not a new idea, being developed since the mid ’50 by several scholars of the time. In an international global market, the need for a unified vision on how and what to report is supported especially by the activity of multinationals and their impact in the local host countries. In this respect, the International Accounting Standards Board (IASB) which is the authorized body issuing International Financial Reporting Standards (IFRS) is concerned on the impact of adopting the IFRSs worldwide. In order to determine what is the IASB opinion regarding this impact we turned to the concerns of the trustees. Using 3 interviews conducted with three of the trustees of IFRS on the possibility of creating a global accounting language we realized a content analysis of the responses given. The results obtained after auto coding the responses of the trustees in NVivo, a program used in qualitative analysis highlighted that the standards adoption is an important part of the accounting process in multiple countries, the national experiences being significant to the board of trustees in order to make improvements to standards at a global level.

Estimation of systematic risk is one of the important aspects of the best investment decisions. Through systematic risk prediction will be known risks to be faced by investors, because systematic risk is a measure of investment risk. In addition to returns, investors always consider the risk of investment, because investors are rational individuals, ie individuals who always consider the trade-off between return and risk. At a certain level of return, investors will tend to choose investments with the lowest risk level. Conversely, at a certain level of risk, investors tend to choose investments with the highest return rate. The purpose of this paper is to analyze the influence of the financial information on the systematic risk of stock manufacturing companies listed on the Indonesia Stock Exchange over a period of five years from January 2011 to December 2015. The financial information is measured in four accounting variables, i.e. financial leverage, liquidity, profitability, and firm size. The results of data analysis using multiple linear regression method to prove that at the 0.05 level only variable sized companies that significantly influence systematic risk. Meanwhile, the variable financial leverage, liquidity, and profitability does not affect the systematic risk. The results showed inconsistencies with the results of several previous studies. This inconsistency may be due to measurement problems variable accounting, the implementation period of the study, and the use of different research samples.

As the world economy grows, financial system as well grows and more people participate. A healthy operation of financial system depends on the condition that all of its parts and components work well together. One of these components is individuals and families. Worldwide, it is estimated that approximately 150 million people join the financial system every year. Control mechanisms are needed for the stability of ever growing financial system and financial literacy comes into prominence in this regard. In this study, we statistically analyzed the factors that affect financial information, behavior and attitudes of students who go to Dumlupınar University Kütahya Vocational School of Social Sciences and then, we determined their level of financial literacy. In order to develop the awareness of financial literacy and to increase the quality of education about this subject, suggestions have been stated in the study.

This study investigates the level of financial literacy among undergraduate and graduate students. The study also examines the association between the students’ demographic factors and their financial literacy rate. Data were collected by distributing 800 questionnaires to undergraduate and graduate students of Gadjah Mada University, Indonesia, covering cross educational majors, ages, gender, education levels, marital status, income, and work experience. Out of the sample, a total of 348 respondents returned completed questionnaires, which gave a response rate of 43.5 percent. The findings show that on average 45.39 percent of the respondents answered the questions correctly, which is relatively low compared to what other studies found in other countries, such as Chen and Volpe (1998) in the US (52.87 percent), or Beal and Delpachitra (2003) in Australia (53 percent). It also seems that male students, students with economics and business majors, those with higher incomes, and more work experience have a higher financial literacy rate. Using probit and tobit regression tests, the study revealed that education levels and academic disciplines are positively associated with the financial literacy rate.

This paper aims at identifying relevant financial factors which critically affects firm revenue growth. We specifically focus on the dynamic nature of such factors across up or down-market cycles and also for different scales and size of business. The study uses annual data of 17 accounting and financial variables for a sample of 1,450 Indian firms which exist continuously between 2003 and 2014 and generate a framework for identification of critical factors which affect firm revenue growth. We employ a variable reduction technique via principal component analysis (PCA), and then use the “principal factors” identified thereon, in a logistic regression approach to develop such a framework. The study finds efficiency in management of current assets and capital (both short- and long-term) to be the most critical factors, determining the firm revenue growth in Indian context. The relative importance of capital deployment efficiency is more for small firms than for large firms whereas asset management efficiency is the most critical factor in larger firms. Long-term solvency supersedes all other factors during market downturns. These findings may have important implications for firms and its stakeholders as a priori knowledge on the importance of critical factors regarding firm’s revenue growth could enable the mangers to support them in their decision-making process.

Accounting information on social benefits is included, in accordance with the scope of its management, in the general Social Security budget. The information contained in the budget may be relevant, but it is likely to be insufficient to enable comparisons to be made with an entity's financial statements for previous periods and with the financial statements of other entities. Thus, IPSAS 1 proposes the presentation of additional information. On the basis of the New Public Management theory, this paper proposes an aggregate accounting model for accounting expenditure as a multi-annual information system which complements and expands information on a potential basic social benefit. This system reports in detail on the trends in the items that fund it, with the aim of achieving maximum transparency and accountability in public administrations by ensuring timely provision of quality information.

The main objective of this study is to investigate the effect of financial information quality on liquidity risk and cost of equity using information of companies listed in the Tehran Stock Exchange. The period is the years between 2005 until 2009, and it reaches back to 2001 for collection of required information. Characteristics related to financial information quality that are used in this study are: Reliability, relevance, persistence, accuracy, precision and frequency of the revenue. The first three features are dedicated to quality of earning reported by the firm and the other three features refer to quality of management earning forecast. For measuring the cost of capital, Gordon Model is used. The Panel method is used for statistical analysis and the sample included 100 firms between years 2005 until 2009. Findings show a negative and significant relationship between the cost of capital and financial information quality.