Accounting and Finance Research
https://sciedupress.com/journal/index.php/afr
<img style="float: right; padding-left: 20px; padding-right: 20px;" src="/journal/public/site/images/afr/AFR3.jpg" alt="" width="300" /><p><strong>Accounting and Finance Research (AFR) (ISSN 1927-5986 E-ISSN 1927-5994)</strong> is a double-blind peer-reviewed journal, published by Sciedu Press. The journal seeks to publish research articles that are original hypothetical and theoretical in its nature and that provides exploratory insights in the fields of accounting, corporate finance, investment, insurance, monetary banking, stock exchange, capital markets and relevant subjects. The journal is published in both online and printed versions. All publications are open access in full text and free to download.</p><p>This journal accepts article submissions <a href="http://sciedupress.com/journal/index.php/afr/information/authors">online</a> or by e-mail (<a href="mailto:afr@sciedu.ca">afr@sciedupress.com</a>).</p><p><strong>ABSTRACTING AND INDEXING:</strong></p><ul><li><a href="https://scholar.cnki.net/journal/index/SBQK192759862838">CNKI Scholar</a></li><li><a href="http://www.econbib.org/">EconBib</a></li><li><a style="font-size: 10px;" href="http://lhzbw.gbv.de/DB=1/SET=2/TTL=1/SHW?FRST=1">ECONIS</a></li><li><a href="http://ezb.uni-regensburg.de/searchres.phtml?bibid=AAAAA&colors=7&lang=en&jq_type1=QS&jq_term1=Accounting+and+Finance+Research">Elektronische Zeitschriftenbibliothek (EZB)</a></li><li><a href="https://www.arc.gov.au/file/10549/download?token=Sbfb2a9n">ERA</a></li><li><a href="http://journalseek.net/cgi-bin/journalseek/journalsearch.cgi?field=issn&query=1927-5986">Genamics JournalSeek</a></li><li><a style="font-size: 10px;" href="http://www.lockss.org/">Lockss</a></li><li><span style="font-size: 10px;"><a href="http://pkp.sfu.ca/?q=harvester">PKP Open Archives Harvester</a></span></li><li><a href="https://publons.com/journal/43222/accounting-and-finance-research/">Publons</a></li><li><a href="https://portal.issn.org/resource/ISSN/1927-5986">Road</a></li><li><a href="https://www.scilit.net/journal/1586017">Scilit</a></li><li><a style="font-size: 10px;" href="http://www.sherpa.ac.uk/romeo/">SHERPA/RoMEO</a></li><li><span style="font-size: 10px;"><a href="http://www.oxbridge.com/SPDCluster/theSPD.asp">The Standard Periodical Directory</a></span></li><li><a href="https://ucr.primo.exlibrisgroup.com/discovery/fulldisplay?docid=alma991021380899704706&context=L&vid=01CDL_RIV_INST:UCR&lang=en&search_scope=MyInst_and_CI&adaptor=Local%20Search%20Engine&tab=Everything&query=any,contains,Accounting%20and%20Finance%20Research&offset=0">UCR Library</a></li><li><a href="https://www.econbiz.de/Record/accounting-and-finance-research-afr/10010195792">ZBW-German National Library of Economics</a></li></ul><div id="journalDescription"><div>------------------------------------------------------------</div><p><strong>Open Access Policy:</strong></p><p>This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.</p><p><strong>Copyright Policy:</strong></p><p>Copyrights for articles are retained by the authors, with first publication rights granted to the journal. Authors have rights to reuse, republish, archive, and distribute their own articles after publication. The journal/publisher is not responsible for subsequent uses of the work.</p><p>This journal is licensed under a <a href="http://creativecommons.org/licenses/by/4.0/">Creative Commons Attribution 4.0 License</a>.</p><p>------------------------------------------------------------</p></div>Sciedu Pressen-USAccounting and Finance Research1927-5986Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. <br />Copyrights for articles published in our journals are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.Optimal Retirement Age and Lower Bound on Interest Rate
https://sciedupress.com/journal/index.php/afr/article/view/24841
<p>For a long time now, the monetary policies in the US and other industrialized countries have been a regime of cheap money with the interest rate often being negative. A low interest rate in the framework of the Keynesian monetary policy stimulates demand but is hard on the retirees who are mostly on a fixed income. This paper generates a simple model to understand the interaction between current wealth, savings rate, interest rate and retirement age. The model also suggests a lower bound on the interest rate. The minimum interest rate at which Americans of median age with median wealth and median income, and retiring at the age of 67, turns out to be 10%.</p>Nalinaksha Bhattacharyya
Copyright (c) 2023 Nalinaksha Bhattacharyya
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2023-12-252023-12-25131110.5430/afr.v13n1p1Determinants of Financial Behaviour: Does Digital Financial Literacy (DFL) Foster or Deter Sound Financial Behaviour?
https://sciedupress.com/journal/index.php/afr/article/view/25085
<p>The rise in bankruptcy cases among Malaysia’s younger population shows that youngsters have weak money management skills or financial behaviour (FB). Digital financial goods and services (DFS) have increased in popularity because of social isolation due to COVID-19 disease. Therefore, digital financial literacy (DFL) - financial literacy (FL) from the digital standpoint has spurred. Based on the theory of planned behaviour, DFL is expected to influence oneself in executing good FB. This study examines the role of DFL in influencing students’ FB, incorporating other vital factors, such as FL, financial attitude (FAT), peer influence (PEI), parental influence (PRI), and social media influence (SMI). SmartPLS was used to analyse data from a survey of 183 Malaysian university students using partial least squares (PLS) modelling. The measurement model signified that the instrument utilised was valid and reliable. The result indicated that FL, FAT, PRI, and SMI displayed a significantly positive impact on FB. Meanwhile, DFL negatively affects FB, which surprisingly contradicts the expectation that it could foster sound FB. This study concludes that DFL deters sound FB. In light of DFS's recent ascent in popularity, these results add to the expanding body of knowledge on DFL.<strong></strong></p>Norli AliNurhazrina Mat RahimMohd Fairuz AdnanHeri YantoKiswanto Kiswanto
Copyright (c) 2024 Norli Ali, Nurhazrina Mat Rahim, Mohd Fairuz Adnan, Heri Yanto, Kiswanto Kiswanto
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2024-01-032024-01-03131610.5430/afr.v13n1p6Cash Holdings Determinants: The Case of Malaysian Local Authorities
https://sciedupress.com/journal/index.php/afr/article/view/25173
<p>This paper investigates the determinants of cash holdings by Malaysian local authorities. The researchers seek understanding on the motivation/intention behind the pattern of cash holdings and the theory that may be able to explain why the local authorities hold such amount of cash. Extensive research affirms that organizations in the private sector possess reasons to maintain cash, encompassing transactional, precautionary, and speculative objectives. The pecking order theory, trade-off theory, and free cash flow theory are also significant frameworks that explain why individuals, businesses, and institutions hold cash. However, there has been limited investigation into the factors influencing cash holdings in the public sector, particularly among local authorities in Malaysia. Therefore, relationship between the local authorities’ size, growth opportunities, financing deficits, liquidity, leverage, capital expenditure and access to credit market and cash holdings in Malaysian local authorities is examined. The sample in this study is 37 districts in Malaysia and data is collected from financial statements of the studied districts between 2015 and 2019. Thus, the total observations in this study are 185 districts-years.</p>Norilmiah AzisNor Khadijah Mohd AzhariRadziah MahmudRosmini Mohd AripinY. Nurli Abu Bakar
Copyright (c) 2024 Norilmiah Azis, Nor Khadijah Mohd Azhari, Radziah Mahmud, Rosmini Mohd Aripin, Y. Nurli Abu Bakar
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2024-01-222024-01-221311810.5430/afr.v13n1p18Examining the Influence of Corporate Governance on Working Capital Management: Insights from Malaysian Public Listed Companies in Selangor
https://sciedupress.com/journal/index.php/afr/article/view/25187
<p class="Default">Corporate governance and working capital management (WCM) are treated as essential subjects in financial management. Many researchers have studied the influence of corporate governance, but only a few of them have connected it with WCM efficiency. Particularly in Malaysia, there has been little concentration given to the relationship between corporate governance attributes and the WCM of the companies. Therefore, the present study intends to analyse the impact of corporate governance represented by CEO tenure, CEO Duality, Board size and Audit Committee on WCM represented by the current ratio of 35 Selangor-based companies which are listed under the <strong>FTSE Bursa Malaysia Top 100 Index</strong>.</p><p>The results from this study show that CEO tenure has a significant negative impact on the current ratio, while CEO duality has a positive impact on the current ratio. Moreover, board size has no significant impact on the current ratio, and the audit committee has a significant positive impact on the current ratio. These findings imply that effective corporate governance mechanisms can significantly affect WCM. The result is expected to enable the owners of the firms to improve their corporate governance practices to enhance WCM efficiency and, furthermore, contribute to the enhancement of the profitability of the firms and maximise shareholders' wealth indirectly. Additionally, the findings from this study can also be a guide for good corporate governance' criteria that significantly affect the efficiency of WCM to be practised by other companies, including SMEs and other organisations.</p>Nurhazrina Mat RahimMohd Fairuz AdnanYusri Hazrol Yusoff
Copyright (c) 2024 Nurhazrina Mat Rahim, Mohd Fairuz Adnan, Yusri Hazrol Yusoff
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2024-01-242024-01-241313010.5430/afr.v13n1p30Fintech in Malaysia: Navigating Challenges and Shaping a Digital Future
https://sciedupress.com/journal/index.php/afr/article/view/25291
<p>This paper explores the growth of Fintech in Malaysia, particularly focusing on the challenges faced by Fintech startups in shaping the country's evolving digital landscape. Through a comprehensive narrative review, the paper synthesizes themes from diverse sources such as articles, newspapers, and written materials. This approach not only enriches the limited Fintech literature specific to Malaysia but also resonates with key global concerns in Fintech such as market competition, regulatory barriers, insufficient capital, lack of talents, security concerns, technological issue, and market readiness. This paper demonstrate research that complements existing knowledge and offers fresh perspectives, bridging the gap between the local context and the broader global conversation. The findings provide crucial information for policymakers, investors, and Fintech industry stakeholders, ultimately fostering growth and innovation in the Malaysian Fintech ecosystem.</p>Nurhaiyyu Abdull HamidKhadijah SuriaNur Syuhada JasniKhairul Anuar Mohd Salleh
Copyright (c) 2024 Nurhaiyyu Abdull Hamid, Khadijah Suria, Nur Syuhada Jasni, Khairul Anuar Mohd Salleh
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2024-02-112024-02-111314210.5430/afr.v13n1p42Firm Performance Under ASC 842
https://sciedupress.com/journal/index.php/afr/article/view/25313
<p>In this paper we examine the effects of the leasing standard, Accounting Standards Codification (ASC) 842, on firm performance. Although the new standard has not directly affected firm operations, we hypothesize that because it requires the recognition of all lease assets and liabilities on the balance sheet, regardless of whether the lease is deemed to be operating or financing (legacy capital), firm debt contracts will become more constrained. The resulting constraints will force firms to either make inefficient operating changes or face increased financing costs. While controlling for contract type (either floating or fixed GAAP), we find firms with higher operating lease asset use and subject to floating GAAP tend to have lower future performance (return on assets) and decreasing returns. In this paper we address FASB’s call for a post-implementation analysis on new standards and specifically ASC 842.</p>Nicole ChoiCasey FromeMitchell Oler
Copyright (c) 2024 Nicole Choi, Casey Frome, Mitchell Oler
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2024-02-162024-02-161315610.5430/afr.v13n1p56Reconceptualizing Tax Compliance Behavior: A Theoretical Matrix Approach
https://sciedupress.com/journal/index.php/afr/article/view/25346
<p>Tax compliance behavior is a multifaceted and extensively explored phenomenon within behavioral economics. However, due to its intricate nature, achieving a full grasp of this topic remains a challenge. This paper is motivated by the lack of coherent structure and lucidity in the existing theoretical frameworks employed to elucidate tax compliance behavior. Firstly, this paper puts forth a novel perspective that seeks to transcend the traditional binary framework of taxpayer behavior, which typically categorizes taxpayers as either compliant or non-compliant. Instead, this paper posits that taxpayer behavior may exist along a spectrum spanning from complete compliance to absolute non-compliance. This conceptual shift aims to provide a more nuanced understanding of taxpayer behavior by acknowledging the potential for varying degrees of compliance. Secondly, to address the existing gaps in the theoretical foundations of factors influencing tax compliance behaviour, the paper introduces a theoretical matrix. This matrix is intended to serve as an organized framework that succinctly encapsulates the prevalent theories underpinning studies concerning the determinants of tax compliance behavior. By methodically categorizing these theories based on ‘types of compliance’ and ‘types of factors’ dimensions, the matrix provides researchers and practitioners with a cohesive overview of the diverse factors influencing taxpayer behavior.<strong></strong></p>Deena Azriana Wan Mohd AzmiSeri Ayu Masuri Md Daud
Copyright (c) 2024 Deena Azriana Wan Mohd Azmi, Seri Ayu Masuri Md Daud
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2024-02-222024-02-221316710.5430/afr.v13n1p67Reviewer Acknowledgements for Accounting and Finance Research, Vol. 13, No. 1, 2024
https://sciedupress.com/journal/index.php/afr/article/view/25347
Reviewer Acknowledgements for Accounting and Finance Research, Vol. 13, No. 1, 2024Sarah Chen
Copyright (c) 2024 Sarah Chen
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2024-02-222024-02-221319210.5430/afr.v13n1p92