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All Journal JABM JOURNAL of ACCOUNTING - BUSINESS & MANAGEMENT
Tawfiq H. Abdel-Jalil
university of jordan
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Other

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Auditors' Opinions, Discretionary Accruals and Financial Risk: Evidence from Jordan Ali A. Al-Thuneibat; Tawfiq H. Abdel-Jalil
Journal of Accounting, Business and Management (JABM) Vol 18 No 1 (2011): April
Publisher : STIE Malangkucecwara

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This study aims at providing evidence concerning the relationship between auditors' opinions, discretionary accruals and financial risk in Jordan. Multiple Regression and Multinominal Logit models were used to test the hypothesis. These models were applied on financial information about discretionary accruals, financial leverage, earnings volatility and auditors' opinions of all Jordanian companies in both industrial and service sectors listed in Amman Bourse (AB) during the period 2002 -2006. The findings of the study showed that there is no significant influence of auditors opinions over discretionary accruals, and there is no significant effect for earnings volatility over the relationship between auditors opinion and discretionary accruals, but there is a significant influence of financial leverage over this relationship. The findings also showed that there is no significant influence of discretionary accruals over auditors opinion, and there is no significant effect for earnings volatility and financial leverage over this relationship. On the basis of the above conclusions, the researchers would recommend that there is an urgent need to improve audit quality in Jordan and enhance the importance of audited financial statements in decision making. Improving audit quality requires a strong regulating system of the audit profession in order to provide a strong mechanism of monitoring the audit firms and the work of the auditors The originality of the study stems from the fact that it provides us with first hand evidence from Jordan as a developing country, about the relationship between auditors' opinions, discretionary accruals and financial risk.
Equity Valuation in Amman Bourse Tawfiq H. Abdel-Jalil; Ali Thuniebat
Journal of Accounting, Business and Management (JABM) Vol 16 No 2 (2009): October
Publisher : STIE Malangkucecwara

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This paper aims to improve our understanding to the changes in stock prices in Amman Bourse, by examining the determinants of three valuation multiples: price to sales (PS), price to book value of equity (PBVE), and price to earnings (PE) ratios. A widely practiced technique for a firm's equity valuation is to use the stock price multiple to a historical accounting performance measure. Price is divided by net sales (NS), book value of equity (BVE), and earnings per share ( ). Net profit margin (NPM) is a measure of the sales' effect on stock price. The evolution of (PBVE) ratio is mainly measured by return on equity (ROE). Dividends payout ratio (DPR) is an important measure of (PE) ratio. In addition, these multiples facilitate the analysis, and the comparison between companies in the same industry. Consistent with the economic theory this paper found that: 1. Price to sales ratio is significantly positively related to net profit margin. 2. Price to book-value of equity ratio is significantly negatively related to return on equity ratio. 3. Price to earnings ratio is significantly positively related to dividends payout ratio. In other words, stock price changes in proportion to changes in net profit margin, and dividend payout ratios. Future research can take into account the effect of systematic risk on the valuation multiples.
Co-Authors Ali A. Al-Thuneibat Ali Thuniebat