International Journal of Economics, Management and Accounting
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THE RELIABILITY OF QUARTERLY FINANCIAL REPORTS OF COMPANIES IN MALAYSIA
Get PDFThis study examines the reliability of corporate quarterly reports of Malaysian companies by analyzing the reporting of exceptional items. The quarterly reports are likely to be unreliable if companies tend to defer the reporting of exceptional items to the final quarter. In examining the quarterly reports of 114 companies listed on the Kuala Lumpur Stock Exchange, this study provides evidence that a majority of companies defer the reporting of exceptional items to the fourth quarter. It is also observed that a majority of companies made negative adjustments during the fourth quarter. Therefore, the quarterly reports are likely to be unreliable, and there are reasons to believe that companies manage their quarterly earnings. In addition, this study provides evidence that non-profitable companies defer the reporting of exceptional items to the fourth quarter more than the profitable ones. However, there is no evidence of association between the deferment of the recognition of exceptional items and the size, growth, and leverage of a company.JEL classification: G34, M41Key words: Quarterly financial reporting, Reliability, Earnings managemen
PROVIDING FOR THE RESOURCE SHORTFALL FOR POVERTY ELIMINATION THROUGH THE INSTITUTION OF ZAKAT IN LOW-INCOME MUSLIM COUNTRIES
Get PDFThis paper is an attempt to estimate the resource shortfall and potential zakat collection for poverty elimination in the low-income Muslim countries. The paper estimates the resource shortfall by utilizing the international poverty lines (under USD1 and 2) headcount and poverty gap index estimated by the World Bank. Potential zakat collection has been estimated by utilizing Kahf’s (1989) definitions of zakatable items with some modifications. The paper finds that some of the low-income Muslim countries can meet their resource gap under USD1 international poverty line with potential zakat collection. However, other countries, mostly belonging to Africa, cannot meet their resource shortfall from their potential zakat collection.JEL classification: I38, I32Key words: Zakat collection, Poverty elimination, Resource shortfal
AN ANALYSIS OF ZAKÓT EXPENDITURE AND REAL OUTPUT: THEORY AND EVIDENCE
Get PDFThis study advocates zakEtas the major and potent fiscal policy instrument in an Islamic state. ZakEt plays its role in macroeconomic stabilization through nondiscretionary and discretionary fiscal policy. The built-in stabilizer mechanism occurs when zakEtcollection is automatically reduced during recession, giving more money to the people to spend—which tends to stimulate the economy—while during the boom period more zakEtis collected, reducing the ability of people to spend—which tends to dampen economic activities. These reduce macroeconomic fluctuations. As a discretionary fiscal policy, the government varies the disbursement of zakEt to the recipients whenever necessary during the phases of the business cycle. During the expansion phase, the government decreases zakEtdisbursement to reduce aggregate spending. Likewise, zakEtdisbursement is increased when the economy is in the downswing to increase aggregate spending. Empirical evidence using Malaysian data supports the hypothesis that zakEt spending is a potent fiscal instrument to improve economic performance. The results of panel data regression analysis indicate that zakEtexpenditure can significantly explain the variation in real output. This suggests that Muslim countries should make serious effort to improve the efficiency of zakEtcollection and spending to generate growth and development of the ummah. JEL Classification: C3, E12, E62 Key words: ZakEt, Fiscal policy, Real output, Panel data, Malaysia
METHODOLOGY OF ISLAMIC ECONOMICS: OVERVIEW OF PRESENT STATE AND FUTURE DIRECTION
Get PDFThis paper argues that research and publications in the area of methodology of Islamic economics is very significant for a meaningful development of the discipline. Although the discussion on methodology of Islamic economics in contemporary Islamic economics literature is rather limited, this paper reviews the works of selected scholars who have attempted to present works on ‘methodology’ and their approach to the process of theory building in Islamic economics. The paper then presents some implications of these views based on the position that methodology investigates the criteria, rationalizations, arguments and justifications used in theory appraisal as well as evaluating the reliability of theories, this paper concludes that greater resources, both human and financial, need to be channeled to developing uI?l al-iqtiI?d, a fundamental, but vastly, neglected area of research in contemporary Islamic economics. JEL Classification: B41, B49, B59, Z12 Key words: Methodology, Islamic economics,uI?l al-iqtiI?d
CORRUPTION, RELIGION AND ECONOMIC PERFORMANCE IN OPEC COUNTRIES: AN ANALYSIS
Get PDFThe analysis ofcorruptionininternational business is a relativelynew but an important phenomenon and for the last two decades many research works have attempted tocapture the economicimpactof the corruption ina country. None of such works has addressed the issue of corruption and religion together inthe contextof developing but resource rich economies. To fill this gap, this study examines the incidence of corruption and religion for economic performance for severalOPECcountries. Statistical methodology relies on panelestimation and simultaneous panelestimation in additiontotraditional ordinaryleas squares errors regression models. Resultsshow thateconomicperformance (measured by Real Gross Domestic Product) responds positively to less corruption and the dominant religion, especially Islam, inour study. Needless tosay, thisstudy also suffers from limitations, regarding the measurement of corruption, limitation of dataand possible exclusion of other explanatory variables in the model.  JEL Classification:F2;F21;F23;H2;O16.  Key words:Corruption, Religion, EconomicPerformance, International Business, OPE
Factor Pricing and Income Distribution From an Islamic Perspective
No full textFactor Pricing and Income Distribution From an Islamic Perspectiv
DETERMINANTS OF HUMAN RESOURCE DEVELOPMENT: AN EMPIRICAL ANALYSIS
No full textBased on the annual Human Development Report of the UNDP, this paper finds that the main determinants of the level of human resource development measured by the HDI for various economies are usually the level of per capita income, its rate of growth, expenditure on military, and the state of income distribution. It is found that even as the HDI is positively correlated with the GDP, the relationship tends to weaken at higher income levels, improvement in the HDI tends to lag behind income growth, and the rise in military expenditure works against the development of human resources. The background of the study is that of developing economies facing serious problems of poverty alleviation. Attention is also paid to the position of Muslim countries.JEL classification: O15, O50Keywords: Human resource development, Human Development Index, Poverty alleviatio
STRATEGIES FOR ASIA PACIFIC: BEYOND THE CRISIS
Get PDFBy Philippe Lesserre and Hellmut Schutte, London: Macmillan Press Ltd., 1999, ISBN 0814751563, 323 pp
ISLAMIC ECONOMIC INSTITUTIONS AND THE ELIMINATION OF POVERTY
Get PDFEdited by Munawar Iqbal, Leicester: The Islamic Foundation, 2002, ISBN 0860373126, 310pp