International Academic Research Journal of Economics and Finance (IARJEF) - ISSN : 2227-6254 (Print)

Impact Factor - 68.16 (ICV) 2015

International Academic Research Journal of Economics and Finance (IARJEF) is a Double-blind peer-reviewed quarterly journal, published by Academic Research Publishers. The journal publishes research papers in the fields of Economics , Finance, Business, Marketing, Human resource management and relevant subjects. The journal is available only on print edition and the current issue can be viewed online. Authors can also download current article from online version.

Vol No. 3 Issue 3 : December 2014
Human Resource Accounting: Cost-Value Information for Making Managerial Decision Pages From : 01-09
Author(s) : Dr. Sandeep Ojha
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   Now the day’s as commercial enterprises developed, the proportion of transactions increased and with this there came many changes from time to time in accounting procedure. In any type of business two types of resources are used; active resources and inactive resources. Human resource is called as active resource as it uses the other non active resource and makes it possible to the best utilization of that inactive resource. We also know that in modern manufacturing environment the quantity of human resource has been reduced up to a great extent but still without a minimum quantity and quality of human resource, a business cannot be operated. Hence, the human resource will always have an upper hand over the other inactive resources. As the HRA is compulsory neither under the Companies Act, 1956 nor under the Accounting Standards, this paper is an attempt to explore prevailing practices of HRA in Oil & Natural Gas Corporation Ltd. by applying Lev & Schwartz model

Impact of Government Expenditure on Economic Growth in India Pages From : 10-23
Author(s) : Amit Kundu
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   This article focuses on the literature related to the debate on the Wagner Hypothesis and the Keynesian Hypothesis. This study examines the existence of any short-run and long-run relationship between economic growth and government expenditure in India over the period 1970-2012. Economic growth (Yt) and government expenditure (Et) are found to be stationary variables and both the series are I(0).There exists a long-run relationship between economic growth and government expenditure. The study with VAR model confirms no causal relationship supporting the Wagner Hypothesis and the Keynesian Hypothesis. The Impulse Response Functions indicate that govt. expenditure shocks were short-lived for economic growth and economic growth shocks were shortlived for govt. expenditure. Variance Decomposition study firmly confirms that govt. expenditure shocks were not important for short-run variations in economic growth (Keynesian Hypothesis) and economic growth shocks were also not important for raising govt. expenditure (Wagner Hypothesis).

A Study on Teaching and Quality Assessments of Accounting Education in Saudi Arabia Pages From : 24-35
Author(s) : Dr. R.B. Sharma
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   At the time when Saudi economy is passing through the phase of structural unemployment, it is critically important to re-assess the ongoing teaching and skill development programs run by education institutions. In this light, the present study is a noble attempt to assess the quality and teaching of accounting institution in Saudi Arabia. The study is based on random sample survey of 150 students studying in different universities in the Kingdom. The survey is divided into two parts. The first part deals with quality aspect followed by teaching methods including the course contents of accounting education. The sample observations analyzed suggest that more than 55% and 64% respondents were satisfied with the quality and teaching of accounting education, respectively. Based on the results, the study concludes that the factors that determine the quality of accounting education are regular updating of course contents, alteration of courses and study material. Similarly, for the improvement in ‘teaching quality of accounting’, teacher attitude, behavior, assessment policy, and follow of lecture plans appeared to be important factors

Comparison of long- and short-term Capital Market Effects of Strategic Divestments Pages From : 36-52
Author(s) : Visar Krasniqi
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Increasing strategic divestment volumes in the European Union provoke the question on post-divestment efficiency. Previous quantitative analyses in divestments usually are restricted to the immediate aftermath of the deal and usually find significant positive cumulative average abnormal returns (CAR). To date the sustainability of shareholder value effects after divestments has not been questioned.
   Referring back to a previous contingent study on long-term return effects of divestments from the perspective of the divesting corporation, the present study asks for the interaction of short and long-term effects. Both studies develop and apply a
novel dynamic methodology of CAR calculation based on time-varying alpha and beta factors and CAR standardization to average period-related daily values. This approach allows calculating and comparing cumulative average returns for unlimited time
  The study provides an overview on so far research in short term post-divestment abnormal returns and adds the following insights for a sample of 62 companies from the global telecommunication market: (Daily) CARs in the divestment period [-100;+14] exceed (daily) CARs in the prolonged pre-divestment period [-702;-100]. The positive effect starts from day 60 before deal announcement cumulates between day -1 and day 1 after and ebbs off to virtually 0 in the first week after the deal. Short-term CAR values in the divestment period are no general indicator for long-term post-divestment performance. Market expectations in the immediate divestment phase exaggerate significantly. Short-term CAR values after divestments are no general reliable predictors of long-term post-deal performance. However, CARs realized between pre-divestment day – 60 and – 41 are an indicator of post divestment performance in the first two years after the divestment. 
  Several companies perform worse after the divestment than before in the long run. Applying a case study approach, the study shows, that when divestments fail from a shareholder perspective, frequently adverse external influence factors (e.g.) governmental regulations or a global recessive corporate development) have beenfundamental causes for the divestment decision.
  This analysis is limited in validity and significance since the size of the sample is rather small. CAR-centred approaches provide no information on the moderating factors codetermining divestment success.