UTJEČE LI KVALITETA REVIZIJE NA USPJEŠNOST PODUZEĆA? DOKAZI S TRŽIŠTA U RAZVOJU

The purpose of this research is to look into the impact of audit quality on company performance. It offers empirical evidence from the Jordanian market, which is considered an emerging market. In this study, audit quality is proxied by auditor tenure, auditor industry specialization, and auditor firm size, while company performance is proxied by ROA, ROE, and EPS. A panel data analysis of all Jordanian industrial public shareholding companies listed on the Amman Stock Exchange during the timeframe (2012 to 2017) is used in this study. The primary findings are that auditor tenure has a negative influence on ROA, but auditor industry specialization and auditor firm size have no influence on ROA. Auditor firm size has a positive influence on both ROE and EPS, but auditor tenure and auditor industry specialization have a non-significant negative influence on both ROE and EPS. According to these results, companies in emerging markets should be encouraged to overcome the barriers that limit the link between audit quality and company performance. The study also suggests more research on the impact of audit quality on information asymmetry and earnings management. Future study might potentially identify characteristics that influence audit quality, particularly in emerging countries (such as MENA countries), where there has been little effort to explore the level of audit quality and its relationship with other factors.Svrha ovog istraživanja je istražiti utjecaj kvalitete revizije na uspješnost poduzeća. Ono nudi empirijske dokaze s jordanskog tržišta, koje se smatra tržištem u razvoju. U ovom istraživanju, kvaliteta revizije je aproksimirana pomoću duljina revizorskog mandata, specijalizacije revizorske industrije i veličine revizorskog poduzeća, dok je uspješnost poduzeća aproksimirana pomoću ROA, ROE i EPS. U ovom istraživanju korištena je analiza panel podataka svih jordanskih industrijskih javnih dioničarskih društava koja su kotirala na Ammanskoj burzi tijekom vremenskog okvira (2012. do 2017.). Primarni nalazi su da duljina revizorskog mandata ima negativni utjecaj na ROA, dok specijalizacija revizorske industrije i veličina revizorskog poduzeća nemaju utjecaj na ROA. Veličina revizorskog poduzeća ima pozitivan utjecaj i na ROE i na EPS, dok duljina revizorskog mandata i specijalizacija revizorske industrije nemaju značajan negativan utjecaj ni na ROE ni na EPS. Prema ovim rezultatima, poduzeća na tržištima u razvoju treba poticati da prevladaju prepreke koje ograničavaju vezu između kvalitete revizije i uspješnosti poduzeća. Istraživanje također predlaže dodatna istraživanja o utjecaju kvalitete revizije na asimetriju informacija i upravljanje zaradom. Buduća bi istraživanja mogla potencijalno identificirati karakteristike koje utječu na kvalitetu revizije, posebno u zemljama u razvoju (kao što su zemlje MENA), gdje je postojalo malo napora da se istraži razina kvalitete revizije i njezin odnos s drugim čimbenicima

Internal corporate governance mechanisms and earnings manipulation practices in MENA countries

This study has the objective of examining how internal corporate governancemechanisms are related to earnings manipulation,measured by real-based earnings manipulation (REM) and accrual-based earnings manipulation (AEM). The internal corporate governance mechanisms discussed in this study signify two main kinds of board characteristics (board size and board independence) and three main kinds of ownership structure (institutional ownership, foreign ownership and business group affiliation). The study models were examined from eight countries selected from the Middle East and North Africa (MENA) region. A total of 480 non-financial firms listed between 2012 and 2019 were examined. Based on panel data-based generalised methods of moments (GMM) estimation, the findings showed that institutional ownership in MENA nations limits the use of REM and AEM. Additionally, we found that larger boards are more likely to participate in REM practices. Board independence has a positive association with REM and AEM. The results also reveal that business group affiliation has a significant effect on both methods of earnings manipulation. Foreign ownership does not seem to significantly impact either of the two manipulation methods. Finally, these results help regulators and policymakers pursue reforms to enhance national governance quality in the MENA region

Responsibility Accounting, Target Costing And Business Performance: The Role Of Risk Management As Mediator

The crises that affected Jordanian business environment were a wake-up call for its financial institutions sparking concern on the issues of risk and performance. In Jordan, various instructions and circulars have been issued by the Central Bank of Jordan as part of the government‘s initiative to ensure good control and performance, causing the financial institutions to give more serious attention towards their management accounting and risk management practices. The present study focuses on two prominent management accounting practices i.e. responsibility accounting and target costing

Determinants of Market Stock Price: New Evidence from an Emerging Market

The current studys goal is to investigate the financial determinants of the market stock price in Jordan, which is an emerging market. It gives empirical evidence from the industrial companies listed on the Amman Stock Exchange. This research was carried out over nine years (2010-2018), with a panel data analysis of 57 industrial companies used during the period. The study sample consists of all of the companies in the population, for a total of 513 observations. In conclusion, the findings of the study reveal that the ratio of assets turnover, long-term debt-to-total assets ratio, earnings per share, return on assets, inventory-to-total current assets ratio, total current assets-to-total assets ratio, and total assets significantly affect the market stock price of Jordanian industrial companies; while the equity-to-total assets ratio and working capital ratio have no significant effect. These results are compatible with the pecking order theory and signalling theory. Besides, the shift in the market stock prices of Jordanian industrial companies is governed by financial indicators at a relatively high level. As a final point, these results can be used by financial analysts, investors, and other strategic decision-makers to boost the effectiveness and efficiency of the Jordanian financial market

Determinants of Market Stock Price: New Evidence from an Emerging Market

The current studys goal is to investigate the financial determinants of the market stock price in Jordan, which is an emerging market. It gives empirical evidence from the industrial companies listed on the Amman Stock Exchange. This research was carried out over nine years (2010-2018), with a panel data analysis of 57 industrial companies used during the period. The study sample consists of all of the companies in the population, for a total of 513 observations. In conclusion, the findings of the study reveal that the ratio of assets turnover, long-term debt-to-total assets ratio, earnings per share, return on assets, inventory-to-total current assets ratio, total current assets-to-total assets ratio, and total assets significantly affect the market stock price of Jordanian industrial companies; while the equity-to-total assets ratio and working capital ratio have no significant effect. These results are compatible with the pecking order theory and signalling theory. Besides, the shift in the market stock prices of Jordanian industrial companies is governed by financial indicators at a relatively high level. As a final point, these results can be used by financial analysts, investors, and other strategic decision-makers to boost the effectiveness and efficiency of the Jordanian financial market

Study of Influence of Formulation Variables on Drug Release: Optimization of Sustained Release Matrix Tablets of Metoclopramide HCl Using Central Composite Experimental Design

Metoclopramide Hydrochloride (MCP), has a short half-life. In order to maintain therapeutic levels in blood, it administered in dose of 10-15 mg four times a day. Fluctuation in plasma concentration of drug is commonly observed for drugs that are rapidly absorbed and eliminated when used in long term therapy. This attribute makes metoclopramide a suitable candidate for controlled release delivery. In this work HPMC K4M was used as release rate controlling polymer for the development of controlled release tablet formulation. Experimental Design using CCRD was utilized to determine the influence of varying the concentration of different variables such as polymer and diluents on the release behavior of the drug from matrix tablets and optimization of formulation. Different SR formulation prepared were designed and optimized with the help of software Design Expert® version 10. Using Central Composite Rotatable Design (CCRD), fifteen formulations were selected and prepared using HPMC K4M, Avicel PH-102 and Lactose DC as variables. All the trial formulations were evaluated using different pharmacotechnical tests including hardness, friability, disintegration, dissolution. Online Dissolution apparatus type II and 900 ml different dissolution media in the pH range 1-6.8 and distilled water for dissolution. The drug release was studied by applying the dissolution models by DDSolver® software. Hixson-Crowell model was best fit to the F13 SR formulation. The CCRD experimental design was successfully used in optimization of sustained release Metoclopramide HCl formulation

Direct and mediated associations among audit quality, earnings quality, and share price : the case of Jordan

Purpose: The current study aims to investigate the relationship between audit quality and the share price in Jordan as a developing market. Moreover, it also uses the role of earnings quality as a mediator factor in the study model. Design/Approach/Methodology: The study sample is comprised of all Jordanian industrial public shareholding companies listed in Amman Stock Exchange during the years 2010 to 2018. Therefore, this study uses a panel data analysis on financial disclosures. Findings: The study concluded that a high audit quality and a high earnings quality separately increase the share price. The earnings quality partially mediates the relationship between audit quality and the share price. It was also found that a high audit quality does not improve earnings quality of the targeted companies. Practical Implication: The findings can be used in efforts to: (i) identify the level of Jordanian market control over audit quality and earnings quality with evidence; (ii) provide more explanations on the importance of audit quality and quality of financial information in the biasness environment; (iii) the results of the this study will be more important for the investors, management, decisions makers, policy makers, and other interested parties; (iv) the findings of the study help the policy makers to adopt good regulations to improve the transparency in reporting the financial information that affects the share price. Originality/Value: The study is an original study and it adds to scholarly debate on effect of audit quality and earnings quality on the share price in Jordan as a developing market. It also uses the role of earnings quality as a mediator factor in the relationship between audit quality and the share price.peer-reviewe

Transgenesis: An efficient tool in mulberry breeding

Genetic engineering is the most potent biotechnological approach dealing with transfer of specially constructed gene assemblies through various transformation techniques. Tools of recombinant DNA technology facilitated development of transgenic plants.  The plants obtained through genetic engineering contain a gene or genes usually from an unrelated organisms, and are known as transgenic plants. The combined use of recombinant DNA technology, gene transfer methods and tissue culture techniques has  led to the efficient transformation and production of transgenics in a wide variety of crop plants. In fact transgenesis has emerged as a novel tool for carrying out “single gene breeding” or transgenic breeding of crop plants. Identification, isolation and cloning of resistant genes is the prerequisite for development of transgenic plants for disease resistance. Identification of resistance genes on the basis of amino acid sequence, conservation enables plant breeder to monitor resistance gene segregation using  appropriate DNA probe intend of testing progeny for disease resistance and susceptibility. Significant developments in plant  genetic modification have been achieved in the last 15 years. Some of the success include herbicide tolerant corn, cotton,  soyabeen and papaya; virus resistant corn, potato, cotton among others. In mulberry, little work has been carried out at Delhi University (south campus). They have developed drought and salinity tolerent transgenic mulberry through Agrobacterium mediated transformation. The overexpression of HVA1 gene from barley generates tolerence to salinity and water stress in  transgenic mulberry (Morus indica).Keywords: Transgenic plant, mulberry, resistance, salinity

Assessing the effects of procedural and interactional justice by testing Leader Member ExchangeTheory inPakistan Telecommunication Company Limited (PTCL)

The potential relationship of the LMX with the procedural justice, interactional justice, and organizational justice as a whole within the Pakistan telecommunication company limited is important to investigate.It is important to look at the various reasons for the organization specific abilities that make it the country’s most productive organization. The sample size 391 has been used of the total target population 18000 employees across the country.The partial least square method is used for finding out the relationship between different parameters associated with the employee specific performance within the organization.It is found that the LMS can be considered as a positive predictor for the estimation and setting of the procedural as well as International justice within the organization. This clearly indicates that LMX for PTCL is based upon considering the various ways and effects that are important for the leaders to influence their followers