10 Articles Published

1. ASSESSMENT OF BOND PRICE VOLATILITY IN EMERGING ECONOMIES: A UNIVARIATE GARCH APPROACH

Authors: HILLARY CHIJINDU EZEAKU , E. CHUKE NWUDE

Abstract: This paper examines the volatility of bond returns in emerging economies with particular case of India and Canada. The study used daily data from 02/01/2012 to 01/01/2018 for India, and 1/03/2012 12/29/2017 for Canada. The univariate GARCH model was employed in estimating the variance equation. Our findings revealed that there were ARCH effects as well as volatility clustering over the period for India and Canada. We observed that endogenous shocks have significant influence on bond price volatilities in both economies. On the other hand, shocks from the stock market return, which is included in the model as exogenous variable, also exerted significant influence on the volatilities of our variable of interest for India whereas the effect was insignificant in the case of Canada. Diagnostic tests on the mean and variance equations showed that our ARCH and GARCH models were correctly specified. We concluded that both the bond return and stock market return shows visible signs of volatilit

Keywords: bond volatility; bond return, emerging economies; ARCH, GARCH

Pages: 1 - 12 | DOI: 10.15224/978-1-63248-175-7-01

2. REMITTANCES AND ECONOMIC GROWTH IN SUB SAHARA AFRICAN COUNTRIES: A POOL MEAN GROUP APPROACH

Authors: E. CHUKE NWUDE , SEBASTINEUGOCHUKWUUGWUEGBE

Abstract: The study investigated the impact of remittances on the economic growth of 29 Sub-Saharan African countries with Pooled Mean Group and Mean Group estimators under Autoregressive Distributive Lag (ARDL) model. Hausman test was used to determine which estimator is the most appropriate. The result of the PMG showed that remittance has a positive and insignificant impact on growth in the long run, while the error correction equation indicates that remittance has a negative impact on growth in the short run, foreign direct investment and capital formation contributes positively to growth both in the long run and short run.

Keywords: Remittances, Pooled Mean Group, Economic Growth, capital formation, and SubSaharan Africa

Pages: 13 - 36 | DOI: 10.15224/978-1-63248-175-7-02

3. SEASONALITY IN STOCK RETURN: EVIDENCE FROM DHAKA STOCK EXCHANGE

Authors: ASHRAFUL RASHID ROMAN , MD. MOHIUDDIN

Abstract: Seasonality in return from capital market has been put forward as most compelling evidence controverting the Efficient Market Hypothesis. Existence of seasonality provides opportunity to gain abnormal return by deploying dynamic trading strategies at the same time it also pushes policymakers to rethink about structural flaws that may have developed within the market mechanism. This study aims to identify seasonality in return from Dhaka Stock Exchange the premier bourse of Bangladesh. The study tested for existence of Month-of-the-Year Effect and Day-of-the-Week Effect on return of the broad market index of Dhaka Stock Exchange from 2009 to 2018. Through multivariate regression analysis, it was found that index return in the month of June is significantly higher than the other months. Empirical evidence of existence of significant positive return on Tuesday and Thursday and negative return on Thursday have also been found in the study. However, such month specific return pattern and we

Keywords: Day-of-the-Week Effect, Dhaka Stock Exchange, Month-of-the-Year Effect, Seasonality, Stock Return

Pages: 37 - 43 | DOI: 10.15224/978-1-63248-175-7-03

4. LEVEL OF COMPLIANCE WITH CORPORATE GOVERNANCE CODE IN THE MOBILE TELECOMMUNICATION INDUSTRY OF BANGLADESH: FACTUAL STUDY

Authors: YESMIN SULTANA

Abstract: In today's neoliberal world of globalization, financialization, and shareholder value maximization, companies often prioritize profit generation to proper governance practices, thus in cases leading to the demise of the business entities in the longer run. Similar incidents in the growing mobile telecommunication industry of Bangladesh such as the demise of the pioneering operator and tax compliance issues of the market leader have drawn attention to the level of corporate governance compliance of the companies operating in this industry. This paper specifically aims at measuring the level of compliance with corporate governance code by the mobile telecommunication companies in Bangladesh. This is measured from the score obtained on a modified corporate governance index (CGI) constructed based on five broad aspects of corporate governance, namely i) the board of directors; ii) management; iii) sub-committees; iv) reporting & disclosure; and, v) external auditing and these aspects were

Keywords: Bangladesh, Corporate Governance Code, Corporate Governance Index, Telecommunication Industry

Pages: 44 - 49 | DOI: 10.15224/978-1-63248-175-7-04

5. HOW BUYER PERFORMANCE IS INFLUENCED IN A SUPPLY CHAIN?

Authors: SHIHYU CHOU

Abstract: The majority of research work that explore performance variation in buyer-supplier relations based on social capital theory only concentrate on relational dimension and/or structural dimension, which might limit their theoretical contributions. In this study, we take a more holistic view to develop a research model based on the social capital theory to investigate how social capital elements result in desired buyer (manufacturer) performance behind the supply chain integration strategy. In addition, we will also look into the effects of two resource capabilities, supplier flexibility and supplier collaboration, resulted from suppliers relationship-specific investments on relational capital. A sample composed of manufacturing firms from different industries in Taiwan will be used to test the hypotheses in the proposed research model.

Keywords: Social Capital, Cognitive Capital, Structural Capital, Relational Capital, Buyer Performance

Pages: 61 - 67 | DOI: 10.15224/978-1-63248-175-7-06

6. EFFECT OF COMMUNICATIVE APPROACH ON LABORATORY REPORT WRITING SKILLS OF STUDENTS AT SECONDARY LEVEL

Authors: MUHAMMAD SAMIULLAH , SADAF ZAFAR

Abstract: This study was designed to explore the effect of Communicative approach on laboratory report writing skills at secondary level as students were unable to write the laboratory reports of the experiments included in their syllabus due to the reality that laboratory report writing was neglected aspect of the curriculum. The quasi experimental method employing pre-test post-test non-equivalent control group design was used in this study. The convenience sample technique was used in this research study. The test was the tool for data collection. The pre-test and the post-test were same. The tool was made valid by the experts views . The reliability of the tool was determined by Cronbachs alpha. Data were analysed through t-statistics. The experimental group precedes the control group indicating that communicative approach was better for laboratory report writing skills than traditional methods of teaching of laboratory report writing.

Keywords: Social Capital, Cognitive Capital, Structural Capital, Relational Capital, Buyer Performance

Pages: 68 - 75 | DOI: 10.15224/978-1-63248-175-7-07

7. EFFECT OF LAB ACTIVITY ON SCIENCE COMPREHENSION AT ELEMENTARY SCHOOL LEVEL IN PAKISTAN

Authors: MUHAMMAD SAMIULLAH , AQSA KHALIL

Abstract: This aim of this research was to investigate the effectiveness of lab activities on the performance of elementary school students in learning science concepts. The study was conducted on 50 students of grade 6th studying general science comprising two groups of 25 students each i.e. control group and experimental group. The students were from poor socio-economic background and had no chance of taking part in experimental work before. Control group was instructed through traditional lecture-based teaching method while experimental group got a chance of performing lab activities. The posttest-only control group research design was opted for the collection of data. Students t-test was performed for data analysis. The results showed that there was significant difference in the academic achievement of students of both groups. The students of experimental group had a great understanding of the concept and performed well in this domain as specified by t-value of 5.06 at df=48 which is statist

Keywords: Activity Based Science Teaching, Concept Buildings

Pages: 76 - 83 | DOI: 10.15224/978-1-63248-175-7-08

8. THE MODEL OF CHARACTER EDUCATION IN RELIGIOUS CULTURE AT ELEMENTARY SCHOOL

Authors: ARIFIN MAKSUM , ARITA MARINI , EDWITA , OTIB SATIBI , SEHATI KABAN

Abstract: The purpose of this study to propose a model of character education in religious culture at elementary school. This survey study was done for 450 students at elementary schools distributed in 5 regions in Jakarta in Indonesia. Data analysis used Structural Equation Modeling (SEM). The result of this study found that the model proposed was a good fit for the data. Another findings stated that character education in religious school culture was predicted by worship facilities, religious ceremonies, and religious symbols. Indicators consisting of musholla, wudhu site, and prayer equipment availability at elementary schools promoted worship facilities. Indicators involving halal bihalal on Idul Fitri celebration day, slaughtering qurban on Idul Adha day, and a religious gathering to break the fasting in Ramadhan month predicted religious ceremonies. Religious symbols were promoted by religious mottos availability, listening to religious songs weekly, and wearing Moslem uniforms promote rel

Keywords: character education, religious culture, worship facilities, religious ceremonies, religious symbols

Pages: 84 - 87 | DOI: 10.15224/978-1-63248-175-7-09

9. THE EFFECTS OF IFRS COMPLIANCE ON EARNINGS REPORTING QUALITY OF FINANCIAL FIRMS IN GHANA

Authors: IBRAHIM BEDIA , MOHAMMED AMIDUA , PATIENCE ABORA , WILLIAM COFFIEA

Abstract: Purpose: We investigate whether compliance with International Financial Reporting Standards (IFRS) is associated with earnings reporting quality of financial firms operating in Ghana. Our paper is based on the premise that complying with International Financial Reporting Standards reflects the combined effects of the financial reporting framework of applying the standards, their interpretation and enforcement. Methodology: With sample size of 51 financial firms made up of both listed and non-listed firms, we modelled earnings reporting quality as a function of IFRS compliance and relevant control variables using dichotomous logistic regression. Findings: Contrary to our hypothesis, IFRS compliance has a positive coefficient with our earnings management proxy for reporting quality. The positive coefficient infers higher earnings management and thus, lower earnings reporting quality with the new reporting standards. Our result suggests that the application of IFRS does not necessarily im

Keywords: effect, IFRS, Compliance, earnings, reporting, quality, financial firms, Ghana

Pages: 88 - 112 | DOI: 10.15224/978-1-63248-175-7-10

10. MODELING VIETNAMESE REPURCHASE INTENTION TOWARD KOREAN COSMETICS

Authors: DINH LUAN , NGUYEN , TRAN LE , VAN KIEN , PHAM

Abstract: This paper aims at modeling the repurchase intention (RI) via three factors namely Word of mouth (WOM), Perceived price (PP), and Country of origin (COO). We also attempt to examine the mediating role of WOM in the relationships among PP, COO and PI. We use the case of Vietnamese consumers to see their repurchase intention toward Korean cosmetics. Methodology In order to complete the proposed purpose, this paper collects the primary data from Vietnamese consumers who have been using cosmetic products made in Korea. The collected data is processed by Structural Equation Modeling (SEM) approach with the aid of SPSS and AMOS software. Findings the results show that WOM plays the role of a mediator very well in the relationships among PP, COO, and PI. Particularly, without WOM COO does not indicate any influence on PI while PP presents some small effects. Therefore, WOM fully mediates the relationship between COO and RI, while partially mediates the relationship between PP and RI. Practica

Keywords: Word of Mouth (WOM), Perceived price, Country of origin, Repurchase intention, Korean cosmetics, Vietnamese consumers

Pages: 50 - 60 | DOI: 10.15224/978-1-63248-175-7-05