International Journal of Accounting, Business and Finance

Global Financial Dynamics: Crisis, Ethics, and Market Impacts: Insights from the June 2023 Issue

Rama Shankar Yadav, Ratikant Bhaskar — Tue, 23 Jul 2024 00:00:00 +0000

With the collaborative support of the editorial board members, authors, reviewers, section editors, technical editors, and production editor, we successfully launched the June 2023 issue of the International Journal of Accounting, Business, and Finance (IJABF). Volume 2, Issue 2 of IJABF features five articles addressing contemporary issues. The authors explore these research questions through empirical results, providing insights and directions for future studies. We extend our gratitude to all contributors to this issue.

Crisis Accounting and Financial Irregularities: Do Ethical Considerations Play a Role?

Edmund Animley, John Kwaku Mensah Mawutor , Isaac Ofoeda — Tue, 23 Jul 2024 00:00:00 +0000

In periods of crisis, organizations and nations experience heightened demands to achieve financial targets, which result in unethical conduct such as the manipulation of financial data and the misrepresentation of financial information or funds. The study aimed at assessing the relationships between Crisis Accounting, Ethical Considerations and Financial Irregularities and establish the moderating role of Ethical Consideration in the relationship that exists between Crisis Accounting and Financial Irregularities. Data from 309 accountants were used to establish the relation between the variables using Partial Least Square - Structural Equation Modeling (PLS-SEM) analysed in SmartPLS 3. The results revealed a positive relationship between Crisis Accounting and Financial Irregularities and also significant impact in the relationship between Ethical Consideration and Financial Irregularities. The results also revealed a strong moderating role of ethical consideration on the relation between Crisis Accounting and Financial Irregularities. The study, therefore, recommends that ethical standards and considerations should be enhanced in accounting practice to limit or deter financial irregularities in crisis situations.

Assessing the Impact of the Turkey-Syria Earthquake on Global Stock Markets

Dharen Kumar Pandey, M. Kabir Hassan , Makeen Huda, Muhammad Arif Khan — Tue, 23 Jul 2024 00:00:00 +0000

Using the event study and cross-sectional analysis, we show that the impact of the Turkey-Syria earthquake on the leading stock market indices of 53 nations was not uniform. While the global, European, and developed markets exhibit negative returns on t+1 and t+4, positive returns were observed on t+2 and t+3, indicating that market participants later adjusted their perceptions and expectations of the event. The country-wise analysis suggests that investors' optimistic view leads to positive returns. We show that trade dependence and proximity to the event zone negatively impact returns, while past returns just before the event can predict returns during the event windows.

The Impact of the COVID-19 Pandemic on metal, mining, and allied sectors in the Indian Stock Market

Manmohan — Tue, 23 Jul 2024 00:00:00 +0000

The paper investigates the effect of the first and second waves of COVID-19 on metal, mining, and its associated sectors stocks in India. Furthermore, the paper explores how the share price of the Indian metal, mining, and allied sectors is impacted and how it differs from the rest of the market. We also compare the effect of the pandemic waves on share prices related to metal, mining, and associated sectors in India during the study period, which ranges from January 2020 to December 2021. The share prices are collected from CMIE prowess for the sample firms. We use event study methodology to explore the impact of the different waves on the above-mentioned sectors. The finding exhibits that the first wave of the pandemic was more extreme in terms of the adverse price reaction than the second wave of the pandemic in the short term in the first five days. In the first wave, a more negative impact was on the Nifty50 index than the metal index. The firms in the metal and allied sectors experienced more negative price reactions than the metal index on the announcement of the lockdown event in the first wave. In the second wave, the impact was less than experienced by the firms in the first wave. We present the comparative empirical findings in daily and period-wise frequency to understand the effect of the 1^st and 2^nd waves of the pandemic on metal, mining, and its associated sectors in India. Our paper will contribute to the literature on extreme events and assist different stakeholders.

Sustainability and Finance in Developing Nations: Current State and Future Directions

Pooja Kumari, Jatin Kumar Jaiswal — Tue, 23 Jul 2024 00:00:00 +0000

Using the bibliometric analysis on a corpus of 492 Scopus-indexed documents, this study comprehensively analyses the literature on sustainable finance, revealing significant growth from one article in 1991 to 53 in 2024, with 2023 being the peak publication year. The highest citations occurred in 2020, totaling 1,531. Saini, N. and Singhania, M. are among the most productive authors, while Rehman, M.A. leads in citations. Garcia A.S. ranks first among the most cited authors. The Journal of Cleaner Production is the most productive and cited journal. Universitas Indonesia and Kwame Nkrumah University Malaysia are the top productive institutions. Keyword analysis highlights "Sustainable Development" as a central theme, with emerging markets prominently featured. Gracia A.S. leads collaborative research activities, indicating strong interdisciplinary cooperation in sustainable finance.

Navigating APEC Countries: TVP-VAR Insights into Developed and Emerging Stock Markets

Parminder Kaur Bajaj, Shubham Kakran, Rupinder Katoch — Tue, 23 Jul 2024 00:00:00 +0000

The interdependence of stock markets provides important discernment into the behavior of the larger international financial markets. This study investigates magnitude and directional volatility spillover patterns among developed and emerging countries within the APEC bloc, utilizing the TVP-VAR model. The findings indicate that Russia (15.06%), Vietnam11.64%), and Thailand (11.57%) are identified as major transmitters, and Malaysia (-28.95%), Philippines (-9.28%), China (-9.53%) are major receptor of the volatility spillovers in APEC emerging countries. In APEC-developed countries, the United States (56.85%) and Canada (42.6%) are major transmitters, and Japan (-34.02%) and Australia (-53.54%) are identified as a major receptor of the spillover. Moreover, COVID-19 was the most significant crisis, with the highest volatility spillover identified in the APEC bloc's developed and emerging economies. The discoveries have substantial ramifications, offering valuable insights into optimal investment strategies by identifying patterns, magnitudes, and directions of economic volatility shocks.