https://sobiad.info/index.php/ijefs/issue/feed International Journal of Economics and Finance Studies 2021-07-07T03:37:36-04:00 Akira Yokoyama editorial@sobiad.org Open Journal Systems <p style="text-align: justify;">The <strong>International Journal of Economics and Finance Studies (IJEFS</strong>) is open access, double-blind peer-reviewed, international journal published in English.</p> <p style="text-align: justify;">The scope of IJEFS encompasses theoretical, empirical or policy-oriented research articles, original research reports, reviews, short communication and scientific commentaries in the fields of economics and finance.</p> https://sobiad.info/index.php/ijefs/article/view/362 ANTECEDENTS TO THE SPEED OF ADJUSTMENT TOWARDS OPTIMAL LEVERAGE: A CASE OF BAGHDAD STOCK EXCHANGE 2021-06-12T13:04:41-04:00 Asaad Mohammed Ali Wahhab asaad.m@uokerbala.edu.iq Eman Jawad Ahmed Al-khafajy eman.ahmed@uowa.edu.iq Nahla Ubaiss Talal talanahla77@gmail.com Abdullah Ali Seger abdullah.seger@uowa.edu.iq <p>The main objective of the study is to examine the antecedents to speed of adjustment towards optimal leverage of non-financial firms listed in Baghdad Stock Exchange Iraq. The factors which ascertain the debt of an organization, are under the focus of studies concerned with financial behaviors of a firm. &nbsp;There are three types of factors that determine the corporate debt, these factors are: (i) firm specific factors, (ii)industry specific, (iii) and country specific. Although, the firm specific factors are considered crucial in decision making for a capital structure, but the empirical results do not provide a significant deduction for debt decisions. Firm and industry specific determinants were the center of attention for earlier empirical studies. The data of non-financial firms listed on Baghdad stock exchange over the period of 6 years from 2015 to 2020 chosen as final sample. The static and dynamic panel data is used to answer the research questions. The findings of this study suggest that the financial managers avoid using debt if theirearnings are not stable and have high amount of cash available. Firms having high growthin assets are using more debt in Iraq. Results of this study are largely consistent with the available empirical findings from other countries and are explained by the existing theories of capital structure. In answering the first question of the adjustment speed of Iraqi firms towards target debt, the study finds that the speed depends upon the proxy of debt used. &nbsp;Given this finding, financial managers may reevaluate the decision of using debt to finance their growth, as it might lead to bankruptcy. Since the findings of this study are based onthe historical data, the managers can rethink on the factors they have been considering inthe past in making adjustment towards target debt and using the level of debt. They canreconsider their past choices and justify that their choices have maximized the value ofthe firm.</p> 2021-06-12T00:00:00-04:00 Copyright (c) 2021 https://sobiad.info/index.php/ijefs/article/view/363 THE IMPACT OF THE SUPERVISORY STRUCTURE ON THE FINANCIAL PERFORMANCE OF SHARIA RURAL BANKS IN INDONESIA 2021-06-12T14:08:19-04:00 Ridwansyah ridwansyahuinril@gmail.com Mahatma Kufepaksi mahapaksi@yahoo.com Rindu Rika Gamayuni rindu.gamayuni@yahoo.com Ayi Ahadiat ayiahadiat@unila.ac.id <p>This study aims to determine the criteria effect of the Commissioners Board and the <em>Sharia </em>Supervisory Board on financial performance with Good Corporate Governance as an intervening variable on <em>Sharia</em> Rural Bank in Indonesia.</p> <p>This research uses a quantitative approach with path analysis method and targets the population of <em>Sharia</em> Rural Bank throughout Indonesia. The independent variables of this study are the Commissioner’s Board and the <em>Sharia</em> Supervisory Board while financial performance with the proxy of Non-Performing Financing is identified as the dependent variable, and Good Corporate Governance as an intervening variable. The findings show that: the criteria of the commissioner’s board have a positive effect on Good Corporate Governance; the criteria of the <em>Sharia</em> Rural Bank have a positive effect on Good Corporate Governance; the criteria of the Commissioners Board and the <em>Sharia</em> Supervisory Board do not have a significant effect on financial performance, and Good Corporate Governance does not have an effect on financial performance. This research can potentially be used a reference point by the <em>Sharia</em> Rural Bank in Indonesia and the Financial Services Authority regulators in the formulation of rules regarding the criteria of the Commissioners Board and <em>Sharia</em> Rural Bank. Through this research, it is recommended that that the <em>Sharia</em> Rural Bank can form a Commissioners Board and <em>Sharia</em> Rural Bank professionally to increase the Good Corporate Governance and financial performance of the <em>Sharia</em> Rural Bank.</p> 2021-04-01T00:00:00-04:00 Copyright (c) 2021 https://sobiad.info/index.php/ijefs/article/view/403 AUDIT COMMITTEE CHARACTERISTICS, REGULATORY CHANGES AND FINANCIAL REPORTING QUALITY IN IRAQ: SOME LESSONS FROM SOX ACT 2021-07-07T03:37:36-04:00 Asaad Mohammed Ali Wahhab asaad.m@uokerbala.edu.iq Mushtaq Talib Abdul Ameer Al-Shammari mushtaq.t@uokerbala.edu.iq <p>This study aims to examine the impact of audit committee characteristics such as audit committee size, audit committee meetings, audit committee independence, and the financial expertise of audit committee on the quality of financial reporting in non-financial firms operating in Iraq. In addition to that the study also examines the direct and moderating role of regulatory changes at the nexus between audit committee characteristics and quality of financial reporting in the context of non-financial firms in Iraq. The particular focus of the study is on the implications of Sarbanes-Oxley Act in Iraq<strong>.</strong> For this purpose, the author selects 170 organizations as the study sample which comprises a total of 850 firm-year observations. For further analysis, only 575 organizational-years observations are included. The multiple regression model is used to analyze this data. Referring to the resource dependence theory, results indicate that characteristics of an Audit Committee are highly resourceful, which leads to enhancement of the financial reporting quality because of the expertise, greater skills, and shared experiences. The regulatory changes also appear to be a significant direct and intervening factor in the relationship between the characteristics of an Audit Committee and reporting quality in the non-financial firms of Iraq.</p> 2021-06-15T00:00:00-04:00 Copyright (c) 2021