• Journal of Information Technology Services
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• v.4 no.2
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• pp.23-32
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• 2005

Information system audit of Korea is different from that of the United States of America, Japan and so on. Information system audit improves the quality of information system. Information system audit of Korea carried out administrative branches. Recently Public sides required ordinary audit frequently. The reason is that the risk of information system project has increased. Examined closely relation between audit quality and audit style such as ordinary audit, fixed period audit, residence audit, and responsibility audit. And, wished to examine closely relation between audit quality and customer satisfaction. As research result, being effect factor that audit style keeps in mind in audit quality, also, audit quality in audit satisfaction, and was proved that exert effect that ordinary audit, report to the responsibility audit or sense of responsibility state keeps in mind in audit satisfaction.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.121-131
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• 2021

This study aims at investigating the effects of digital accounting implementation on audit performance of tax auditors in Thailand through audit competency and audit report as the consequence. In addition, it examines the effects of audit learning, digital culture, and stakeholder expectation on digital accounting implementation. The key informants were Thailand's tax auditors. The data was collected using a questionnaire that was distributed to 349 tax auditors throughout Thailand. The response rate was 20.53%. The Ordinary Least Squares (OLS) is applied to test the research relationships. The results of this study show that digital accounting implementation has an important effect on its consequence, namely audit competency, audit report, and audit performance. Similarly, audit competency and audit report affect audit performance. Testing the antecedents of the research relationships, namely audit learning, digital culture, and stakeholder expectation, the result reveals that only digital culture affects digital accounting implementation. Accordingly, digital accounting implementation plays a vital role to enhance audit competency, audit report, and ultimately lead to attaining audit performance. Furthermore, the results are beneficial for the auditing practitioners and regulators, allowing them to draw on these results to develop training programs to enhance professional audit efficiency.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.95-102
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• 2020

The purpose of this study is to test both the alignment theory and entertainment theory on family firms listed on the Pakistan Stock Exchange. To achieve these goals, we collected secondary data from 164 non-financial family firms in various sectors during 2014-18. These family firms are classified into two categories: family control firms and family owned firms. We take the audit fee and the audit quality as dependent variables while family control firms, family-owned firms, and family CEOs as independent variables. In addition, the study uses leverage, profit and export as control variables. To test the effect of the explanatory variables on the output variables, we use two econometric models, Ordinary Least Square and the Probit regression model. In addition, Huber Sandwich test is used to check the non-normality and heteroscedasticity of panel data. Contrary to the alignment effect, the study supports the entrenchment effect and advocates that family-controlled firms as well as family-owned firms are not conscientious regarding the selection of external auditors during their contracts with audit firms. They are less likely to pay high audit fees for good quality audit in Pakistan. Furthermore, the study shows a statistically significant and positive relationship between audit quality and audit fees.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.233-246
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• 2020

This paper investigates the effect of the involvement of the board chairman in the audit committee (AC) on earnings management (EM). It examines Bursa Malaysia-listed companies with the lowest positive earnings for the years 2013 to 2015. The Modified Jones Model by Kasznik (1999) was used to determine discretionary accruals. An AC that includes its board chairman as an ordinary member is associated with greater discretionary accruals. However, a board chairman who is also the chairman of the AC does not seem to influence discretionary accruals. This paper supports the agency theory and policy-makers' efforts to prevent board chairmen from sitting on ACs. It is the first study that uses the agency theory to describe the association between the board chairman's involvement in the both AC and EM. This study alerts policy-makers, stakeholders and researchers to the influence of a board chairman serving on the AC in curbing EM. Furthermore, it provides empirical evidence that the majority of Malaysian companies whose board chairmen are involved in the AC appoint the chairman as an ordinary member of the AC. This indicates that executive directors may affect such actions. Hence, more policies are needed to improve AC independence.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.139-147
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• 2020

This paper aims to explore the relationship between the quality of the audit and the level of stock return co-movement in the context of the Vietnamese emerging market. The empirical study is designed based on the quatitative method and deductive approach. The panel dataset includes 256 listed firms from different industries,with 1115 firm-year observations on Ho Chi Minh City Stock Exchange for the period from 2014 to 2018. In the research, we built the econometric regression model, using stock return synchronicity and audit quality as the dependent and independent variable, respectively. Some control variables are also added to the econometric regression models as they are well-documented in prior research to have an effect on stock price synchronicity. To improve the accuracy of the regression coefficients, beside the Ordinary Least Squares, we employ the Random Effects Model and the Fixed Effects Model for better statistical analysis of panel data set. The results show that the quality of the audit is positively correlated to stock price synchronicity. This finding suggests that stock returns of companies with higher quality of the audit are more synchronous with the market. Results for other control variables also support our reasoning for the main findings.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.181-193
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• 2020

This study examines the relationship between gender diversity (women on the board and women on the audit committee) and a firm's financial stability. The ordinary least square analysis was used to determine the relationship. To measure the financial stability of Malaysian suspect firms, i.e., firms with the lowest positive earnings, the Altman (1993) Z-Score measurement was utilized. The results indicate that women on the board are significantly and negatively associated with the firm's financial stability. That is, they are related to low financial stability, which contradicts the agency and resource dependence theories. Regarding women directors on the audit committee, there is no significant relationship with financial stability, meaning that they cannot protect the company against financial distress. These results are robust and do not change when using different measurements of gender diversity, one-year lag of independent variables, and other methods of analysis, namely random effect panel data. This study is the first to alert policymakers, stakeholders, researchers, and society in general to the need to re-evaluate and strengthen the role of women directors in improving firms' financial stability, particularly in emerging economies like Malaysia.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.119-128
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• 2020

The aim of this paper is to investigate the level of intellectual capital disclosure (ICD) in commercial banks listed on the Indonesian Stock Exchange. This paper also observed the effects of ICD and corporate governance mechanism on market value. This study uses content analysis techniques to measure ICD. The paper provides a novel approach to measure the ICD quality in developing countries using a four-numerical coding system. Secondary data were obtained from the financial statements and annual reports of the banks for the period 2011-2014. The data from 31 banks were analyzed using ordinary least square regression. The study reports that the quality of intellectual capital disclosure in Indonesian commercial banks increase steadily. Narrative disclosure dominates the report of intellectual capital in Indonesian banks. The results indicate that the size of audit committee, frequency of audit committee meeting, and intellectual capital disclosure affect positively the market value. Overall, the results indicate intellectual capital disclosure is associated with the market capitalization; these findings indicate that the ICD is a consideration in a stock investment decision. While regulations in Indonesia regarding intellectual capital reporting are not conclusive yet, the information needs of stakeholders have encouraged companies to expand voluntary disclosure.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.81-89
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• 2019

Many authors have examined the impact of public spending on economic growth. This study uses ordinary least-squares technique to test the effect of state budget expenditure with two major components: development investment expenditure and recurrent expenditure on Vietnamese economy for the period 2000-2017. The empirical results show that the state budget expenditure of Vietnam has positive effect on the economy, however each main component has different impacts. Recurrent expenditure has significant positive impact on Vietnamese economy while there has no evidence to affirm the relationship between the development investment expenditure and the economic growth. Vietnamese government should restructure the state budget to enhance the positive effect on the economy. In the short run, Vietnam should not increase development investment expenditure due to low efficency in public investment. In the long run, it is necessary to economize recurrent expenditure to reserve a reasonable proportion of state budget for development investment expenditure to build infrastructure for developing the economy. The state budget expenditure should be restructured towards prioritizing recurrent expenditure on human and social relief, reducing public administration expenditure, allocating investment capital from the state budget for key and pervasive projects, avoiding spreading out investments as well as crowding out private investments.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.323-331
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• 2020

The study aims to assess the impact of foreign direct investment (FDI) and international trade (export and import) on Vietnam's economic growth for the 2000-2018 period. Secondary data is taken from the General Statistics Office of Vietnam. Ordinary least-square method is used in analyzing the impact of FDI, export and import on economic growth of Vietnam. Empirical test results show that FDI and international trade are related to Vietnam's economic growth. However, each economic variable has a different impact. FDI has a positive and statistically significant influence on economic growth of Vietnam. Export also has positive and statistically significant impact to the economic growth, while import has a negative but not statistically significant effect. The result is useful for the policy makers of Vietnam on foreign economic relations. In order to improve the effect of FDI and international trade on growth of the economy, the government of Vietnam should: (1) continue applying preferential policies to attract FDI; (2) select foreign investors aiming to quality, efficiency, high technology and environmental protection; (3) continue pursuing export-oriented policy; (4) enhance the added value of exported goods and control the type of imported goods; (5) further liberalize trade through signing and implementation of international trade commitments.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.129-137
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• 2019

Tax can be categorised into direct tax and indirect tax. This paper uses the ordinary least-squares regression method to study the impact of direct and indirect tax on economic growth in Vietnam in the period 2003-2017. Statistical data is collected from the Ministry of Finance of Vietnam. Theoretically, tax generates the state budget revenue and is a tool to regulate the economy. The results of statistical tests show that tax has a positive impact on Vietnam's economic growth. However, the effects of direct tax and indirect tax are different. The indirect tax has a positive influence and promote Vietnam's economic growth, while the impact of the direct tax is invisible. There has not been sufficient evidence to confirm that the indirect tax has a more positive impact than the direct tax. To promote economic growth, Vietnam needs to restructure its tax system towards: (1) Increasing the proportion of indirect tax, reducing the proportion of direct tax in the state budget revenue; (2) Expanding tax bases; (3) Reducing tax rates of corporate income tax and personal income tax; (4) Increasing tax rates of environmental protection tax, natural resources tax, value added tax and excise tax on some types of goods which harm health and environment.