Journal of Economics, Finance and Accounting Studies

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EISSN : 2709-0809
Total articles ≅ 105
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Danielle Marie P. Pama, , Anna Corinna Pizarro-Uy
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 292-306; https://doi.org/10.32996/jefas.2022.4.2.23

Abstract:
The Philippines is a country that has been experiencing a gradual rise in inflation in the past decades, and this affects the prices of goods and services, therefore decreasing the currency's purchasing power. The aim of this study is to analyze the relationship between Inflation and selected economic indicators, such as Unemployment Rate, Money Supply, Policy Rate, and Exchange Rate, based on time series quarterly data from the year 2003 to 2020 in the Philippines. This effect was investigated using the autoregressive distributed lag (ARDL) cointegration technique. The results showed that Inflation, which is the rate of increase in prices over a given period in the Philippines, has a significant positive relationship with the Policy rate in the short run.
Corinna Theodora Gunawan, Dwi Asih Surjandari
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 184-190; https://doi.org/10.32996/jefas.2022.4.2.14

Abstract:
Taxation is a mechanism for collecting state revenues and an instrument of a country's fiscal policy. However, tax is a burden for the company. So the company's management is interested in maximising profits by avoiding taxation. This study aims to determine the effect of transfer pricing, capital intensity, and earnings management on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange for the 2015–2019 period. The determination of the research sample was made using the purposive sampling method, with a total sample of 66 companies, to obtain 330 data. The software used is E-views 9. Tax avoidance was proxied by the cash effective tax rate; transfer pricing was proxied by the ratio of related party sales transactions to total sales; capital intensity was proxied by the percentage of total fixed assets to total company assets, and earnings management was proxied by the modified Jones discretionary accrual model. The results show that transfer pricing, capital intensity, and earnings management significantly affect tax avoidance simultaneously or partially.
Yingxin Ou, Yuyu Chen
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 332-335; https://doi.org/10.32996/jefas.2022.4.2.26

Abstract:
The Tokyo Metropolitan Area of Japan is a typical world-class metropolitan area with Tokyo as the core city, and the Yangtze River Delta region is one of the regions with the most active economic development, the highest degree of openness, and the strongest innovation ability in China, and has a decisive strategic position in the overall situation of the country's modernization construction and the pattern of all-round opening up.
Zhuo Chen
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 324-331; https://doi.org/10.32996/jefas.2022.4.2.25

Abstract:
With the complexity of business transactions, accounting information, and organizational structure of enterprises, as well as the gradual improvement of the capital market, it is difficult for financial analysis of a single indicator to provide a comprehensive understanding of the overall situation of an enterprise. In this paper, we will analyze and evaluate the industry environment, company profile, solvency, operating capacity, profitability, and financial risk, and provide valuation and recommendations, taking Tongce Medical Co.
Muzhi Ji, Xuexin Yang, Congrui Liu
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 344-349; https://doi.org/10.32996/jefas.2022.4.2.28

Abstract:
After more than three years, the Federal Reserve has once again entered the interest rate hike cycle - the Fed recently announced a 25BP increase in the target range for the federal funds rate to between 0.25% and 0.5% (this is the Fed's first rate hike since December 2018) while hinting that it will soon begin to reduce its balance sheet. The Fed's rate hike and tapering based on continued high inflation will undoubtedly have a series of profound effects on the global stock market, bond market, currency market, commodity market, and other markets, as evidenced by the possible divergence in the performance of different sectors of the US stock market, with the growth sector suffering a certain impact; interest rates on US bonds will also rise sharply, etc. For China, we have to guard against the negative impact of the Fed's interest rate hike spillover effect on the economy.
Maya Puspita, Wiwik Utami
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 350-356; https://doi.org/10.32996/jefas.2022.4.2.29

Abstract:
The purpose of this study is to provide empirical evidence of the effect of disclosure of corporate social responsibility, earnings management, and family ownership on the cost of debt. The population in this study were manufacturing companies in the basic and chemical industrial sectors, which were listed on the Indonesia Stock Exchange (IDX) from 2016-to 2019, and the sample was determined using a random sampling method with the slovin formula so that the number of samples obtained was 136 companies. This type of analysis is a secondary causal analysis obtained through the company's website, and the annual report is accessed on the Indonesia Stock Exchange website. The analysis method uses multiple regression. The results of the study indicate that the Disclosure of Corporate Social Responsibility and Earnings Management does not affect the Cost of Debt.
Theresia Fitriyani, Waluyo
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 357-365; https://doi.org/10.32996/jefas.2022.4.2.30

Abstract:
The purpose of this study is to indicate the effect of CEO narcissism, sales growth, and profitability proxied by Return On Assets (ROA) on tax avoidance with earnings management as moderating variable in manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2019. This study relies on secondary data obtained from annual reports from the official website of the Indonesia Stock Exchange, namely www.idx.co.id. The sample is selected based on certain criteria, with 57 companies obtained. Data analysis was performed by panel data regression. The findings of this study indicate that earnings management can moderate the relation between CEO narcissism and sales growth on tax avoidance. The role of earning manipulation activities strengthens the CEO of the company to carry out tax avoidance activities. Earnings management also plays a role in sales variables closely related to profit and taxes. Meanwhile, CEO narcissism, sales growth, and profitability had no significant effect on tax avoidance, and earnings management cannot moderate the relationship between profitability and tax avoidance. Company in doing tax avoidance does not always consider Return on Asset or caused by other reasons.
, Falikhatun
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 366-374; https://doi.org/10.32996/jefas.2022.4.2.32

Abstract:
This research aims to identify the factors that influence trust in paying zakat through zakat management organization (OPZ) or zakat institution in Indonesia. The theory in conducting this research is based on agency theory and legitimacy theory. This research is a quantitative descriptive research using primary data in the form of questionnaires distributed online using the Structural Equation Model (SEM) analysis tool. The population in the research is the Muslim population in Indonesia, who are obliged to pay zakat. Samples were taken randomly using the Simple Random Sampling method for as many as 100 respondents in 40 cities spread across Indonesia. The results showed that Muzakki's Perception of Management and Transparency Practices had a significant positive effect on trust in paying zakat through zakat institutions. Meanwhile, Muzakki's Perception of Zakat Institutions and Muzakki's Background has no significant effect on trust in paying zakat through zakat institutions. These findings are expected to be a serious concern for stakeholders in educating the Muslim community about the importance of paying zakat through zakat institutions in order to reduce income inequality and achieve economic prosperity in Indonesia. The results showed that Muzakki's Perception of Management and Transparency Practices had a significant positive effect on trust in paying zakat through zakat institutions. Meanwhile, Muzakki's Perception of Zakat Institutions and Muzakki's Background has no significant effect on trust in paying zakat through zakat institutions. These findings are expected to be a serious concern for stakeholders in educating the Muslim community about the importance of paying zakat through zakat institutions in order to reduce income inequality and achieve economic prosperity in Indonesia. The results showed that Muzakki's Perception of Management and Transparency Practices had a significant positive effect on trust in paying zakat through zakat institutions. Meanwhile, Muzakki's Perception of Zakat Institutions and Muzakki's Background has no significant effect on trust in paying zakat through zakat institutions. These findings are expected to be a serious concern for stakeholders in educating the Muslim community about the importance of paying zakat through zakat institutions in order to reduce income inequality and achieve economic prosperity in Indonesia.
, Christiane Aldrid Sibayan, Anna Corinna D. Pizarro-Uy
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 307-323; https://doi.org/10.32996/jefas.2022.4.2.24

Abstract:
The Coronavirus Disease 2019 (COVID-19) Pandemic has caused major damage to the Philippine economy, resulting in a drastic -17.0% drop in aggregate output since 2019 and a downturned economy that could be felt by 2021. The impact of the pandemic could be felt at a household level, as 1.8 million Filipino families report to have become newly poor within the last 1 to 4 years, in addition to 17.6 million pre-existing families below the poverty threshold in 2018. The Philippine citizens and their government are hoping for economic recovery soon. This study provides an in-depth multivariate analysis of the role of selected monetary indicators and labor and commerce indicators in the consumer confidence of the general Philippine population using multi-variate regression and vector autoregression analyses. It also establishes a causal relationship of the latter to HFCE and GDP using the Granger causality test to determine which indicators affect general consumption the most in the context of recovery from the COVID Pandemic. The paper has successfully confirmed the significance of consumer confidence in the fluctuations of the Philippine economy in the short- and long-run, as well as systematically illustrates the relationship of consumer confidence with other macroeconomic variables. As the model shows, consumer confidence is heavily influenced by the country’s economic stability and the individual’s level of income, purchasing power, access to financial instruments, and ability to borrow.
, Maureen Ann Cordero, Carlos L. Manapat
Journal of Economics, Finance and Accounting Studies, Volume 4, pp 276-291; https://doi.org/10.32996/jefas.2022.4.2.22

Abstract:
This study examines the values, trends, and variables that determine the public education expenditures of the Philippines from 1990 to 2019. The researchers used the following variables: Public Education, Culture, and Manpower Development Expenditure in Millions, Tax Revenue in % share GDP, Total Population in Millions, and Real Gross Domestic Product Per Capita, to pave the way for a coherent understanding of the determinants of public education expenditure and theories used to build up this economic construct. The study utilized a multivariate Ordinary Least Squares regression analysis needed for the variables, along with statistical measures to assess the significance of the model. Which includes the following: the values of the t-test and f-stat in their respective p valued forms for the significance of the economic model, tests for serial correlation through the Durbin-Watson test and Breusch-Godfrey test, a test for multicollinearity through Variance Inflation Factor, a test for heteroscedasticity through Goldfeld-Quandt test and White's Heteroscedasticity test, testing for specification errors will be done through Ramsey's RESET test, and test for normality will be through a graphical method Histogram. The key findings of this study suggest that the variables; economic growth, tax, and population growth show signs of positive relationship and negation with the dependent variable education expenditure.
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