https://www.um.edu.mt/library/oar/handle/123456789/61516 Sun, 05 Apr 2026 14:49:58 GMT 2026-04-05T14:49:58Z https://www.um.edu.mt/library/oar/handle/123456789/61514 Title: Corrigendum to “Analysis of market efficiency at Borsa Istanbul : Harvey Linearity Test” [Journal of Accounting, Finance and Auditing Studies 2/1 (2016) 113-124] Authors: Malcioglua, Gurkan; Aydin, Mucahit Abstract: Market efficiency is the most important factor affecting the situation as to whether to obtain excessive profits of the investors. In the study, the return of BIST-100 Index and the efficiency of its sub-indices Industrial, Technology, Financial and Service Indices were examined. Used Harvey linearity test, beside other tests analysis linearity without any pre-condition. This increases the power of the test. The data set used in this study is the period between 07.03.2000 and 09.22.2015 consists of 3723 observations. The results of the study say that the analyzed variables are nonlinear. According to the results of the nonlinear unit root test, all the variables examined have a stationary structure. The excess returns are concerned. Therefore, the efficient market hypothesis in weak form in the markets is not valid.; Piyasa etkinligi, finansal piyasa oyuncularinin asiri kazanc elde edip etmeme durumunu etkileyen en onemli faktordur. Calismada BIST100 Endeks getirisini ve alt endeksleri olan Sinai, Teknoloji, Mali ve Hizmet Endekslerinin etkinligi incelenmistir. Kullanilan Harvey dogrusallik testi, diger testlerin aksine, hicbir on kosul gerektirmeden dogrusallik analizi yapmaktadir. Bu da testin gucunu arttirmaktadir. Calismada kullanilan veriler 03.07.2000 ile 22.09.2015 yillari arasinda olup 3723 gozlemden olusmaktadir. Analiz sonuclarinda, dogrusalligi incelenen tum degiskenlerin, dogrusal bir yapida olmadigi tespit edilmistir. Dogrusal olmayan birim kok testi sonuclarina gore ise incelenen tum degiskenler duragan bir yapidadir. Dolayisiyla ele alinan piyasalarda zayif formda etkin piyasa hipotezinin gecerli olmadigi sonucuna ulasilmistir. Thu, 01 Oct 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/61514 2020-10-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/61513 Title: Petroleum profits tax, company income tax and economic growth in Nigeria 1980–2018 Authors: Etim, Etim Osim; Nweze, Austine U.; Umoffong, Nsima J. Abstract: Purpose: The purpose of the study was to investigate the long run relationship existing between petroleum profit and companies’ income taxes and economic growth in Nigeria in the period of 1980 to 2018. This is premised on realizing the role of taxation as a critical aspect of an economy’s fiscal policy framework. -- Design/Methodology/Approach: The secondary data for 39 years period. The analytical tools were Augmented DickeyFuller (ADF) unit root-test, Engle Granger Procedure Cointegration test, Parsimonious Error Correction Mechanism (ECM), Durbin-Watson statistic and over parameterized model. -- Findings: The results of the analysis reveal a positively significant association of studied variables with (0.9844) and (0.9471) co-efficients for petroleum profit tax and companies income tax respectively in relation independent variables integrate with the dependent variable at first order. This indicates long run relationship. Also, the parsimonious results shows a positive co-efficients of (3.6344) and (2.7644) and (2.7629) for t-values of CIT and PPT on economic growth. -- Originality/Value: In view of the results, government’s tactful handling of issues that are tax related was recommended so as to stimulate additional investments, entrepreneurial activities and innovations. The study contributes to the taxation and fiscal policy research by increasing our knowledge and understanding on the relationship subsisting between taxation revenue and economic growth. Thu, 01 Oct 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/61513 2020-10-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/61511 Title: Auditor independence regulations : a case of Nigeria Authors: Salawu, Mary Kehinde Abstract: Purpose: The perceived ineffectiveness of applicable regulations at its best promotes susceptibility of statutory auditors to compromise independence. Unlike most of the existing studies, this study investigated auditor independence regulations in Nigeria with a view to appraising their effectiveness in promoting independence of audit practitioners. -- Design/methodology/approach: Survey research design was employed to enable collection of relevant data from relevant practitioners using structured questionnaire. Descriptive method, Relative Importance/Significance Index (RII) and Mean Index Score (MIS) were employed for ranking and assessment of auditor independence regulations according to their effectiveness using a five-point Likert. -- Findings: Results revealed that the most effective auditor independence regulation as perceived by the experts was restriction on advertising with Relative Importance Index (RII) and Mean Index Score (MIS) of 0.82 and 4.08 respectively. Independent review by peers (RII = 0.68, MIS = 3.40) and rotation of audit partners (RII = 0.67, MIS = 3.37) were considered to be ineffective among others. -- Originality/value: Being the first known study on audit regulation effectiveness in the country, the study provided valuable insights for urgent intervention by relevant regulators to enforce compliance with applicable audit regulations in the interest of investors. Thu, 01 Oct 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/61511 2020-10-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/61510 Title: The effect of intellectual capital on price to book value with good corporate governance as a moderating variable Authors: Mardhiana, Made Dwi Abstract: Purpose: The purpose of this research is to determine the effect of intellectual capital on price to book value (PBV) and moderation form of good corporate governance (GCG) in relation of intellectual capital on PBV. -- Methodology: This research used quantitative approach that uses data from companies incorporated in the Indonesia Stock Exchange (IDX) and companies assessed by Indonesian Institute for Corporate Directorship (IICD) during the 2016- 2018 period. The sampling method was purposive sampling method and obtained 53 companies with 159 observations in total. The analysis technique of this research is moderated regression analysis (MRA) using Statistical Package for Social Science (SPSS). -- Findings: The results show that intellectual capital has a positive significant effect on PBV, and also shows that the higher GCG, the relation of intellectual capital on PBV will be more positive. -- Practical implications: Companies can increase the use of intellectual capital followed by the implementation of good GCG principles in order to increase investors' perceptions of the company's future prospects as reflected in the PBV ratio. Investors who wish to invest in a company can pay attention to the company's ability to utilize intellectual capital in an effort to increase added value for the company and implement good GCG. -- Significance of the study: This research contributes to the financial accounting research by expanding the knowledge on the price to book ratio and financial performance of capital market companies especially in managing the company resources. Thu, 01 Oct 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/61510 2020-10-01T00:00:00Z