[Session A 7] Accounting

International Symposium on Finance and Accounting 2009

http://isfa2009.org

Sponsored by

Department of Accounting and Information Systems,
National Kaohsiung First University of Science & Technology

Department of Accounting, National Taichung Institute of Technology

International Business Academics Consortium

College of Business, National Taipei University

[Session A 7] ISFA 1 - Accounting Room Cattleya II

Session Chair: Dr. Rosemary Penalosa Dinio University of Santo Tomas

An Evaluation of Selected Micro Enterprises as Means of Uplifting the Quality of Life of Low Income Families in Quezon City

Rosemary Penalosa Dinio University of Santo Tomas

Do Exchange Listing Announcements Signal the Future?

Tsai-Ling Liao Providence University

Chih-Jen Huang Providence University

Over-Investment and the Marginal Value of Cash Holdings

Tsai-Ling Liao Providence University

Chih-Jen Huang Providence University

Auditor Independence and Overconfidence

Chen-Hui Wu I-Shou University

Examination of the Deficiencies of system-based auditing Model and its replacement with the risk-based auditing model, in Iran

Valiollah Forsati Jouybari Islamic Azad university

Mehdi Abedi Islamic Azad university

[Session A 8] ISFA 2 - Finance Room Cattleya III

Session Chair: Dr. Ahmed A. Mohammad Applied Science University of Jordan

Towards Knowledge Financial Statements

Ahmed A. Mohammad Applied Science University of Jordan

The Evolving Relationship between Earnings, Dividends, and Stock Repurchases: Evidence from Taiwan

Dar- Hsin Chen National Taipei University

Hwey-Yun Yau National Taipei College of Business

Yi-Ping Huang National Taipei University

Improving the Classification of the Bads from the Goods Using Event Variables and Dummy Variable Structure Technique

Abd-Razak Ahmad University Teknologi Mara Kedah

Nicholas Wilson University of Leeds

Equity Participation of Insurance Company in Malaysia

Rabihah Md.Sum University Sains Islam Malaysia

An Examination of the IAS 36 ‘‘Assets Impairment’’ on the Valuation Models Used by Analysts Firms in U.K

Subhan Ullah COMSATS Institute of information Technology

Muhammad Zeb COMSATS Institute of information Technology

Anwar Khan COMSATS Institute of information Technology

[Session B 7] ISFA 3 - Finance & Management Room Cattleya II

Session Chair: Dr. Min-Lee Chan Providence University

Effect of Working Capital Management on Profitability of Firms in Malaysia

Zariyawati Mohd Ashhari University Putra Malaysia

Annuar Mad Nassir University Putra Malaysia

Abdul Rahim Abdul Samad University Putra Malaysia

Information Transparency and Earnings Management in Banking Industry

Min-Lee Chan Providence University

Cho-Min Lin Providence University

Ya-Wen Chen Providence University

Business Ethics and Law

Yi-Ping Chen Da-Yeh University

The Impacts of Relaxing Uptick Rule: Evidence from Taiwan Mid-Cap 100 Index components

Edward H. Chow National Chengchi University

Hsiao-Mei Lin National Chengchi University

Modeling Long Memory Volatility Models in Agricultural Commodity Futures Returns

Roengchai Tansuchat Maejo University

[Session B 8] ISFA 4 - Finance and Strategic Room Cattleya III

Session Chair: Dr. Hatra Voghouei University Putra Malaysia

The Political Economy of Financial Development: Panel Data Evidence

Hatra Voghouei University Putra Malaysia

Regime-Dependent Dynamics of the Optimal Futures Hedge: Evidence from the S&P 500 and the NASDAQ 100 Indices

Yu-Sheng Lai National Chiao Tung University

Her-Jiun Sheu National Chi Nan University

Return from Writing Derivative Warrants in Hong Kong Market

Zhenxing Zeng Hong Kong Baptist University

Constraints to SMEs: A Rotated Factor Analysis Approach

Mohammad Ayub Islam Independent University

Mohammad Nayeem Abdullah Independent University

Syed Manzur Quader Independent University

A Reinvestigation upon the Impact of the Gradual Liberalization of A-share Market on the Efficiency of A and B Share Prices in China
Yang-Cheng Lu MingChuan Univrsity

Hao Fang MingChuan Univrsity

[Session C 7] ISFA 5 - Finance and Market Room Cattleya II

Session Chair: Dr. Chaiwat Ninanussornkul Chiang Mai University

Modeling the Volatility in Bond Prices in South-East Asia

Chaiwat Ninanussornkul Chiang Mai University

Michael McAleer National Chung Hsing University

Songsak Sriboonchitta Chiang Mai University

Chia-Lin Chang National Chung Hsing University

Volatility and Volatility Spillovers in Crude Oil and Precious Metals Markets
Chaiwat Ninanussornkul Chiang Mai University

Kunsuda Nimanussornkul Chiang Mai University

Thanes Sriwichailanphan Chiang Mai University

Pimonpun Boonyasana Chiang Mai University

Stealth Trading, Price Manipulation and Investors Types: Evidence from the Emerging Taiwan Equity Market
Yang-Cheng Lu MingChuan Univrsity

Market Beta(β) and Stock Returns - An Analysis of Select Gulf Companies

Rengasamy Elango Majan College

Dayanand Pandey Bank Melli Iran

Day-of-the-Week Effect in the Taiwan Interbank Call Loan Market

Chin-Shan Hsieh Kao Yuan University

Cheng-Te Chen Far East University

[Session C 8] ISFA 6 - Risk & Finance Room Cattleya III

Session Chair: Dr. Michal Jelinek University of Economics in Prague

Total Complementary Edge Covering Problem Using Multi Start Tabu Search Algorithm

Ali Naimi Sadigh Amirkabir University of Technology

Marzieh Mozafari Amirkabir University of Technology

Determination of Profitability of Commissionaires in Accordance with Arm’s Length Principle

Tomas Brabenec University of Economics in Prague

Michal Jelinek University of Economics in Prague

Top Executive Pay and Contemporaneous Firm Performance Measure

Chii-Shyan Kuo National Tsing Hua University

Jow-Ran Chang National Tsing Hua University

The Impact of Yield Curve Movements on Returns on Equities of Taiwanese Financial Institutions

Chien Yun Chang Hsuping Institue of Technology

Jian-Hsin Chou Hsuping Institue of Technology

Zhen-Yu Chen National Kaohsiung First University of Science and Technology

Investment Strategy of Mean Reversion in P/E Ratios and the Error Correction Process: Evidence from Taiwan

Shang-Chi Gong Fu Jen Catholic University

Yan-Ting Lin Fu Jen Catholic University

Sou-shan Wu Chang Gung University

Tsung-Pei Lee Fu Jen Catholic University

[Session D 7] ISFA 7 - Accounting & Market Room Cattleya II

Session Chair: Dr. Erwin Saraswati Brawijaya University

Problems in Financial Reporting: The Analysis of Quality of Disclosure and the Measurement System of the Traditional Accounting
Abdul Ghofar Brawijaya University

Erwin Saraswati Brawijaya University

Return Reversals and Momentum: A Complementary Rhythm in Taiwan

Hsiao-Peng Fu Providence University

Director Quality and Firm Performance--- A Resource Dependence Perspectives
Tsui Jung Lin Chinese Culture University

Chi Ming Ho Southern Taiwan University of Technology

Nonlinear Behavior in Real Exchange Rates: Evidence from the East Asian Countries
Ahmad Zubaidi Baharumshah University Putra Malaysia

Venus Khim-Sen Liew University Malaysia Sabah

Heaping in Reported Earnings: Evidence from Monthly Financial Reports of Taiwanese Firms

Fengyi Lin National Taipei University of Technology

Liming Guan University of Hawaii at Manoa

Wenchang Fang National Taipei University

[Session D 8] ISFA 8 - Finance and Strategic Room Cattleya III

Session Chair: Dr. Petr Polak VŠB – Technical University of Ostrava

Location Criteria for Establishing the Treasury Centres in South East Asia

Petr Polak VŠB – Technical University of Ostrava

Rady Roswanddy Roslan Swinburne University of Technology

Country Development and Growth--An Exploration of Major Economic Indicators for Selected Countries and Identify Country Development Strategy

Woo Kok Hoong University of Malaya

Mohd Nazari Ismail University of Malaya

Rubi Binti Ahmad Ahmad University of Malaya

Stealth Trading, Price Manipulation and Investors Types: Evidence from the Emerging Taiwan Equity Market
Her-Jiun Sheu National Chi Nan University

Yu-Chen Wei National Chiao Tung University

Financial Transparency and Stock Recommendation: Evidence from Taiwan
Edward Chow National Chengchi University

Yin-Che Weng National Chengchi University

The Performance of Overconfident Fund Managers
Edward Chow National Chengchi University

Yo-Min Lin National Chengchi University

Hsiao-Mei Lin National Chengchi University

Yin-Che Weng National Chengchi University

[Session E 6] ISFA 9 - Risk and Market Room Vanda II

Session Chair: Dr. Chu Ei Yet University Malaysia Sarawak

Seasoned Equity Offerings and Board Structures at the Initial Public Offerings
Suzanne Ching-Fang Lin Takming University of Science and Technology

Michelle Ching-Yi Lin Takming University of Science and Technology

H. Y. Izan University of Western Australia

Ray da Silva Rosa University of Western Australia

The Cash Hoarding Behavior of Australian Firms
Suzanne Ching-Fang Lin Takming University of Science and Technology

Ray da Silva Rosa University of Western Australia

H. Y. Izan University of Western Australia

Michelle Ching-Yi Lin Takming University of Science and Technology

The Predictive Performance of a Barrier-Option Credit Risk Model in an Emerging Market
Dar-Hsin Chen National Taipei University

Heng-Chih Chou National Taiwan Ocean University

David Wang Chung Yuan Christian University

Rim Zaabar Ceram Business School

Who Win! The Shareholders or Decision Makers? The FHCs’ Driven Factors of M&A in Taiwan
Chuang-Yuang Lin National Taipei University

Hung-Ta Lee National Taipei University

Insider Ownership and Industrial Competition: Causes and Consequences of Information Asymmetry
Chu Ei Yet University Malaysia Sarawak

Song Saw Imm University Technology Mara

[Session E 7] ISFA 10 - Investment and Market Room Cattleya II

Session Chair: Dr. Jirapun Chorruk Griffith University

New Evidence on the Pricing and Performance of Initial Public Offerings in Thailand: 1997–2008

Jirapun Chorruk Griffith University

Andrew Worthington Griffith University

Pricing of Payment Deferred Vulnerable Options and Its Application to Vulnerable Range Accrual Notes

Po-Cheng Wu Kainan University

Chih-Wei Lee National Taipei College of Business

Cheng-Kun Kuo National Taiwan University

Virtual Investment Communities as Influential Sources on Individual Decisions

Chun-Ju Chen Soochow University

Rong-An Shang Soochow University

Yu-Chen Chen Soochow University

The Shanghai Stock Exchange vs. the Hong Kong Stock Exchange: The Structure and the Conduct

Victor Chan Macao Polytechnic Institute

The Shanghai Stock Exchange vs. the Hong Kong Stock Exchange: The Performance and Thus Arbitrage Opportunities

Victor Chan Macao Polytechnic Institute

[Session E 8] ISFA 11 - Investment and Market Room Cattleya III

Session Chair: Dr. Jinlu Li Shawnee State University

A Complete Solution to the Equity Premium Puzzle

Jinlu Li Shawnee State University

REITs Volatility Prediction for Skew-GED Distribution of the GARCH Model

Tung-Yueh Pai Tamkang University

Yen-Hsien Lee Chung Yuan Christian University

Does Managerial Sentiment Cause Corporate Investment Inefficiencies?

Hsiao-Fen Hsiao Mingdao University

Chuan-Ying Hsu Da-Yeh University

Chun-An Li National Yunlin University of Science and Technology

Ai-Chi Hsu National Yunlin University of Science and Technology

Announcement Effects and Asymmetric Volatility in Industry Stock Returns: Evidence from Taiwan

Ming-Jen Chang National Dong Hwa University

The JT Index as an Indicator of Financial Stability of Emerging Markets

Petr Jakubik Charles University

Petr Teplý Charles University

[Session F 6] ISFA 12 - Risk & Economics Room Vanda II

Session Chair: Dr. Asma Salman Harbin Institute of Technology

FDI: Impact on Sectoral Growth in Pakistan

Asma Salman Harbin Institute of Technology

Hui Xiao Feng Harbin Institute of Technology

GDP growth with Economic Stability: An FDI perspective

Asma Salman Harbin Institute of Technology

Hui Xiao Feng Harbin Institute of Technology

Investor Attitudes and Behavior towards Inherent Risk and Potential Returns in Financial Products

Gow-Liang Huang National Kaohsiung First University of Science and

Technology

Shyan-Rong Chou National Kaohsiung First University of Science and

Technology

Hui-Lin Hsu National Kaohsiung First University of Science and

Technology

Voluntary Disclosure of Intangible Information: A Comparative Study between Prospectuses and Annual Reports

Azwan Abdul Rashid University Tenaga National

Wan Mohammad Taufik Wan Abdullah University Tenaga National

Mahlindayu Tarmidi Malaysia Institute of Accountant

Zaifudin Zainol University Tenaga National

[Session F 7] ISFA 13 - Accounting & Market Room Cattleya II

Session Chair: Dr. Nor Hasimah Johari University Tenaga National

Corporate Governance Practices and Environmental Performance of Companies in Malaysia - Finding Possibilities of Double Thumbs Up

Sharifah Buniamin University Tenaga National

Nor Hasimah Johari University Tenaga National

Bakhtiar Alrazi University Tenaga National

Noor Raida Abd Rahman University Tenaga National

Non-linear Smooth Adjustments Relationship between US and Taiwanese Stock Market

Yen-Hsien Lee Chung Yuan Christian University

Chien-Han Hung Tamkang University

Market States and Initial Returns: Evidence from Taiwan IPOs

Jen-Sin Lee I-Shou University

Pi-Hsia Yen I-Shou University

Chin-Tai Kuo National Kaohsiung First University of Science and Technology

Time Series Analysis for the Comovement of Raw Material Prices between China and Taiwan

Chien-Chung Nieh Tamkang University

Hwey-Yun Yau National Taipei College of Business

[Session F 8] ISFA 14 - Risk & Banking Room Cattleya III

Session Chair: Dr. Radha Shiwakoti University of Kent

Expensing of Share-Based Payments and its Impact on Large UK Companies

Radha Shiwakoti University of Kent

Brian Rutherford University of Kent

The Market Structure, Conduct, Performance Paradigm Reapplied to the International Tourist Hotel Industry

Gu-Shin Tung National Pingtung Institute of Commerce

Ching -Yi Lin National Pingtung Institute of Commerce

Chih-Yuan Wang Ming Chuan University

The Relationship Banking Paradox: Raison d'être versus No Pain No Gain

Baomin Dong University of International Business and Economics

Yu Li University of International Business and Economics

Index of Volatility for ASEAN

Kunsuda Nimanussornkul Chiang Mai University

Michael McAleer National Chung Hsing University

Songsak Sriboonchitta Chiang Mai University

Chia-Lin Chang National Chung Hsing University

Modeling the Volatility Spillover and Conditional Correlations between ASEAN and Europe, USA in Forecasting Value-at-Risk

Kunsuda Nimanussornkul Chiang Mai University

Michael McAleer National Chung Hsing University

Songsak Sriboonchitta Chiang Mai University

Chia-Lin Chang National Chung Hsing University

[Session G 5] ISFA 15 - Risk and Finance Room Cattleya II

Session Chair: Dr. Ali Al-Nodel Qassim University

Does Corporate Governance Drive Financing Decisions of Saudi Arabian Companies?

Khaled Hussainey Stirling University

Ali Al-Nodel Qassim University

Capital Adequacy Requirements and Risk-Taking Behavior in Banks: International Evidences

Shu Ling Lin National Taipei University of Technology

Shun-Jyh Wu St. John’s University

Long Memory in Volatility of Southeast Asia stock markets

Anaspree Chaiwan Chiang Mai University

Chia-Lin Chang National Chung Hsing University

Michael McAleer National Chung Hsing University

Songsak Sriboonchitta Chiang Mai University

Value-at-Risk in Single-Index of Southeast Asia Stock Markets

Anaspree Chaiwan Chiang Mai University

Chia-Lin Chang National Chung Hsing University

Michael McAleer National Chung Hsing University

Songsak Sriboonchitta Chiang Mai University

What Are Their Relationships among the Indices of Emerging Markets?

Mu-Fen Zhao Tam-Kang University

Yu-you Chen Tam-Kang University

[Session G 6] ISFA 16 - Market and Information Room Cattleya III

Session Chair: Dr. Deddy P. Koesrindartoto Bandung Institute of Technology

In Search for a Fit Indonesian Government Bond Index

Deddy P. Koesrindartoto Bandung Institute of Technology

Ahmad Danu Prasetyo Bandung Institute of Technology

To Improve a Research on the Efficiency of Enterprise Information fluency by Using a Complete Scheme

Tsang- Hung Wu I-Shou University

Shyh-Chang Liu I-Shou University

The Motivations of Online Products and Services Information Searching
Chuang-Yuang Lin National Taipei University

Tsai Chen National Taipei University

Impact of Four Major Macroeconomic Variables on the Stock Market Indices in Malaysia, China and U.S.

Seyed Mehdi Hosseini University Sains Malaysia

Ahmad Zamri University Sains Malaysia

Yew Wah Lia University Sains Malaysia

Is There Any Relationship between Crude Oil Price, Money Supply, Industrial Production and Inflation with the Stock Market Index in China, India and Russia?

Seyed Mehdi Hosseini University Sains Malaysia

Ahmad Zamri University Sains Malaysia

Yew Wah Lia University Sains Malaysia

[Session H 7] ISFA 17 - Accounting and Finance Room Cattleya II

Session Chair: Dr. Elvina R. Bayburina State University - The Higher School of Economics

Intellectual Value of the Company and the Factors of its Growth: A Panel Study of the Large Russian and Chinese Companies

Elvina R. Bayburina State University - The Higher School of Economics

Tatiana V. Golovko State University - The Higher School of Economics

Regulation on Forecast Error Threshold and Corporate Governance: Evidence from the Emerging Market of Taiwan

Cheng-Hwai Liou National Taichung Institute of Technology

Shou-Min Tsao National Taichung Institute of Technology

Yun-Sheng Hsu National Chung Hsing University

Guang-Zheng Chen National Taichung Institute of Technology

Credit Ratings and Capital Structure

Chunghuey Huang National Taipei University

Wanying Lin National Chengchi University

Ruey-Yu Lin National Chengchi University

Comparing the Islamic Banking, Conventional and Both Banking Users Using Multinomial Logistic Regression

Nuradli Ridzwan Shah Mohd Dali University Sains Islam Malaysia

Hanifah Abdul Hamid University Sains Islam Malaysia

How Useful is the VIX (Volatility Index) for Evaluating the Risk of Stock Market?

Chien-Lung Hsu National Taipei University

Ruey-Shan Wu National Taipei University

[Session H 8] ISFA 18 - Market and Finance Room Cattleya III

Session Chair: Dr. Dwi Martani University of Indonesia

The Analysis Impact of Financial Ratio and Discounted Cash Flow to the Financial Distress

Dwi Martani University of Indonesia

Dan Hertanto University of Indonesia

The Impact Financial Performance and Governance to the Board of Directors Replacement (Empirical Studies on State Own Companies in Indonesia)

Dwi Martani University of Indonesia

Susi Meyrista Tarigan University of Indonesia

Dynamic Implied Volatility Functions in Taiwan Options Market

HungLung Chen National Chengchi University

WeiYu Kuo National Chengchi University

WeiKuang Chen National Chengchi University

Searching Optimal Solutions for Construction Projects Using Artificial Intelligence -- A Case Study of Sewer Rehabilitation Planning

Ming-Der Yang National Chung Hsing University

Tung-Ching Su National Chung Hsing University

Yi-Ping Chen Da-Yeh University

[Poster Session]

Empirical Study on Jump Diffusion of Taiwan 50 Index Constituent Stocks Price

Shi-Hao Chou Tam-Kang University

A Cross-Level Investigation of the Effect of Corporate Social Performance on Customer Identification and Behavior

Chia-Wu Lin National Dong Haw University

Zih-Hua Wang National Dong Haw University

Shu-Hao Chang Ming Dao University

An Examination of Stock Price Movement for RIM Model:Evidence from Taiwan

Keshin Tswei Nanhua University

Chen-Yin Kuo National Chung Cheng University