Empirical tests of the efficient market hypothesis (EMH) have been repeated by many researchers with varying results, with several supporting it and others finding no clear evidence for it. One of the results that weakens the EMH is the study of such anomalies as the Ramadan effect. Anomaly...

Empirical tests of the efficient market hypothesis (EMH) have been repeated by many researchers with varying results, with several supporting it and others finding no clear evidence for it. One of the results that weakens the EMH is the study of such anomalies as the Ramadan effect. Anomaly...

This paper discusses the methodology dominantly used in accounting research, namely, mainstream accounting research methodology. This methodology, which relies on the methodology of natural sciences and is called hypothetico-deductive approach assumes that human beings are passive objects and...

The problems of corruption, collusion and nepotism, known by its abbreviation as KKN that have been widely institutionalized within the Indonesian society as acceptable practices, make formal systems - organization, organizational control systems and accounting included - decouple from their...

Accounting research that currently is dominated by the adoption of the natural sciences methodology has increasingly been criticized for alienating accounting from its social environment. The increasing use of alternative methodology in accounting research such as critical theory and...

Asia's financial crisis in July 1997 affects currency, capital market and real market throughout Asian countries. Countries in Southeast region (ASEAN), including Indonesia, Malaysia, Philippine, Singapore, and Thailand are some of the countries where the crisis hit the most. In these countries,...

This paper studies trading volume of 206 recorded and publicly traded bonds in Indonesian Capital Market on January 4th-March 9th 2009 observed period. The data covers almost all trading data in the market and all brokers that exist. The microstructure data used in this study is a complete...

This study investigate VAR Toda-Yamamoto causality test between macroeconomic variables and Islamic financial market. The purpose of this study is to analyze the information content of Islamic capital market and money market return with respect to macroeconomic and global factors. Using...

Firm's strategic orientation involves synchronizing environmental dynamics, corporate strategy and capital structure in order to achieve firm performance targets. The co-alignment model used successfully in the hospitality industry might be used in a wider context as a framework in explaining...

This paper intends to analyse the default risk in micro, small and medium enterprises (MSMEs) and its relation to new debt opportunities, debt overhang theory and growth intention. The results confirm that cash flow, capacity and leverage are the major determinants of firms' default, while gross...