Finance

We develope the models of defense budget demand by bureaucratic model. To see the business usual characterstics, we assume defense spending is the degree of inertia of the budget period, because a group of actors who enter into, always want to maintain the status quo and their positions. The results shows that Indonesia's defense budget policies positively affected by last year's defense budget with a low level of sensitivity. Although still business as usual, but the military actors only gave little influence to the policy.We develope the models of defense budget demand by bureaucratic model. To see the business usual characterstics, we assume defense spending is the degree of inertia of the budget period, because a group of actors who enter into, always want to maintain the status quo and their positions. The results shows that Indonesia's defense budget policies positively affected by last year's defense budget with a low level of sensitivity. Although still business as usual, but the military actors only gave little influence to the policy.

Taxes as a reliable revenue source have always been taken in to consideration by governments. Tax imposition creates many disorders in economics but "green taxes" do not have such quality. Since the green tax is applied based on the cost and expense, they have a large scope and bring about good income for the government. Therefore, they can be replaced to other tax bases. On one hand, it reduces the effect of creating disorder by the other taxes; on the other hand, it increases the benefits of the society because of the reduction of the pollution. In this study, the effect of the green tax along with other influential variables on environment such as the index related to technology and GDP per capita, Population and degree of trade freedom on the amount of the pollutant, carbon dioxide and Nitrogen dioxide, sulfur dioxide and also the influence of these taxes on epi (Environmental Performace Index) was examined in 34 countries which were the members of OECD countries during the period (1995 to 2006) have been studied. The findings show that the imposition of such tax has caused the reduction of air pollution and the improvement of environment in the selected countries.

In the United States, many small business owners display inadequate preparedness strategies to mitigate natural disasters. The damage caused by natural disasters usually costs millions of dollars in injuries or lost lives, disruptions to operations, and property damage. Small business owners who fail to plan and prepare for disaster frequently face closure when disasters strike. The goal of this study was to explore strategies independent auto maintenance business owners use to mitigate natural disasters. Holling’s organizational resilience theory grounded this qualitative multiple case study. From the population, a purposive sample drawn, included five participants who implemented disaster mitigation strategies from Texas, Arkansas, and Louisiana and participated in this study. Semistructured interviews were used to collect data, which was analyzed by triangulating the results against company strategic plans, financial data, emails, website information, and operation manuals. The implementation in the data analysis of Yin’s 5-step data analysis process yielded important themes of: employee relations and financial strength, disaster planning and response guideline, communication, and collaboration and partnership. The analysis of the analysis led to the presentation of key recommendation for business owners, notably to comprehensively understand, plan, and execute successful natural disaster mitigation strategies, to ensure business continuity and resilience. The implication for positive social change is the potential for businesses to avoid permanent business closure, create jobs, retain employees, and improve the economic standard of living for communities.

This paper examines accounting and accountability issues relating to Australian rules country football clubs within the state of Victoria. Football clubs are part of the largely unaccountable not for profit (NFP) sector in Australia. As there has been a lack of research on country football clubs, this paper explores the myriad of financial information that is produced by both junior and senior clubs in the state of Victoria. The result of this survey has found consistency in the production of some accounting reports by club type, but also variability in regularity and usefulness.

Although Savings and credit cooperative societies (SACCO) are formed to promote thrift among members by affording them an opportunity to accumulate savings and deposits to provide credit at fair and reasonable rate of interest, they operate in an competitive environment characterized by banks, micro finance institutions, insurance companies, capital market and pension fund that offer similar or near equal financial services to the same clientele in Kenya. In today's highly dynamic and competitive business environment, firms are exposed to strict challenges with meeting the ever-increasing market and customer needs and expectations, coping with sophisticated requirements, and facing technological obsolescence. In order to achieve sustainable competitive advantage level that not only matches those of their business rivals? but that exceed the financial industry performance averages, financial institutions have to seek understanding of relative degree on the relationship between competitive strategies and sustainable competitive advantage. Competitive strategies adopted determine the consumer satisfaction that propels the SACCO to attain sustainable competitive advantage. The aim of the study was to establish the effects of competitive strategies on sustainable competitive advantage of SACCOS in Kenya. Specifically, the study was to examine the effect of focus strategy and identify the effect of innovation strategy on sustainable competitive advantage of SACCOs in Kenya with specific interest in Mombasa County. The literature reviewed in the study was the theory of Resource-Based View of the firm (RBV), Market-Based View (MBV) and the Game Theory. A descriptive survey research design was adopted with a survey involving 168 SACCOs according to the Kenya Union of Savings & Credit Co-operatives ltd.

Earnings management is a kind of management which uses accounting techniques to meet the executives needs for earnings; it is a widely debated topic, hence it is worth looking at. Experts and professionals in this area found many approaches to detect the earnings management; within these approaches are the accrual-based models which include the modified Jones model, which currently is a favourite model to many researchers. The issue of earnings management has always been an anxiety for the reliability of published accounting reports. In emerging markets, like India due to their relatively weak legal enforcement capabilities, earnings management issue is more universally practiced. The objective of this study is to investigate whether Indian companies adopting international standards (i.e., International Financial Reporting Standards or IFRS) have higher earnings quality compared to non-adopting companies and are less likely to smooth earnings and engage in earnings management with an improvement of reporting quality. Our results clearly indicate that the firms adopting IFRS are unable to control the earnings management and thereby improve Earnings Quality in emerging market of India.

This paper discusses the results of a study that was conducted to investigate the income smoothing behavior in differences industries. Eckel’s Income Smoothing Index (1981) is used to determine the presence of artificial income smoothing behavior. The descriptive statistics are used to develop a profile of the sampled companies. Then the univariate test is conducted to investigate any significant systematic differences between companies that smooth their reported income and companies that do not. Finally, this study use logistics regression to investigate the factors associated with income smoothing practices.Results shows that industrial and technology companies smooth income more than other types of industries. The findings also indicate that income smoothers tend to be large companies with high ownership control.

This study examines the impact of transparency of financial information on the value relevance of earnings in determining the company's market value. Sampling was undertaken and finally, during the period 2006 to 2013, 117 companies were selected. Then, the sample firms have been separated into two groups: firms with low transparency of financial information and firms with high transparency of financial information. Corporate separation criterion based on the transparency of financial information. was Points for the ranking system and information disclosure quality in Tehran Stock Exchange .The methodology of research is descriptive according to the type of data, a correlation analysis (spierman coefficient) and Multiple regression was used To test the hypothesis .Also we uses a number of control variables. These variables consist of Size, CF, E, and BV. based on the results of the test hypothesis, Using a modified Olson discretionary For calculated relevance of earnings it was found; Transparency of financial information is effective on the value relevance of earnings in determining the company's market value.

The main objective of the study is to examine the directional causality between spot and futures market in Indian scenario. For this purpose, the study has used pair wise Granger Causality test. The study has used daily prices series in both spot market and futures market for the 40 sample individual stocks drawn from six leading sectors namely Automobiles, Banking, Cement, Gas, Oil & Refineries, Information Technology and Pharmaceutical. The period of study is from 1st January 1997 to 31st May 2009. The study finds that with the exception of Tata Motors, all the remaining Automobile companies showed bi-directional causality between spot and futures prices. Seven (out of selected nine) Banks showed bi-directional causality between spot and futures prices. In the Gas, Oil & Refineries sector, BPCL, HPCL, IOC and Reliance Industries showed bi-directional causality between spot and futures prices. Out of the seven IT firms, four companies did not show any causality between spot and futures prices. All the six selected Pharmaceutical companies witnessed bi-directional causality between spot and futures prices.

The paper aims at assessing cost of governance and revenue assurance mechanisms. The methodology adopted by the paper involves the use of quantitative data for 9 years, from 2002 to 2010, which was generated from the annual report and accounts of the Central Bank of Iran. The data generated for the study was analyzed using graphs and simple percentage analysis. The finding of the paper shows that Cost of governance at state level has greatly increased in Iran. Similarly, the trend of Extra-Budgetary Expenditure put to question the implementation of budgets at the States. The paper concludes that the task of reducing cost of governance for revenue assurance at states level does not rest on the executive, legislature and judiciary alone. It is task demanding the collective effort of all stakeholders. Finally, the paper recommends that there is the need to reduce recurrent expenditure to sustainable level through reducing waste, inefficiency, corruption and duplication in government, as well as, make capital spending more effective.