Forthcoming articles


African Journal of Accounting, Auditing and Finance


These articles have been peer-reviewed and accepted for publication in AJAAF, but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.


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African J. of Accounting, Auditing and Finance (4 papers in press)


Regular Issues


  • Financial reporting quality and earnings management in Libyan banks: Stakeholders perceptions   Order a copy of this article
    by Yasser Barghathi 
    Abstract: This paper ascertains the perceptions of Libyan Commercial Banks' (LCBs) stakeholders in regards to the financial reporting quality through the existence of earning management. This approach to detect for earnings management has been widely adopted by academic and therefore it could be referred to as an academic approach. A total of useable 102 questionnaire from a range of LCB stakeholders comprising preparers of financial statements, users, regulators and academics have analysed to answer the research questions. Earnings management behaviour is viewed as having a place in LCBs financial reporting due to the existence of a range of factors. Stakeholder groups agreed, on balance, that such behaviour does exist because of local accounting practices, weak external auditor, and poor corporate governance leading to the assumption that financial reporting of LCBs implies managed earnings which eventually suggest that LCBs financial reporting would have been of less quality given the existence of the factors that may facilitate such behaviour. The findings are of particular relevance to regulators, and specifically, the Central Bank of Libya. Perceptions of financial reporting quality raise questions about its guidance and regulations especially in connection with earnings management. Perceptions of financial reporting quality, and therefore, of the credibility of financial statements should be of interest to all stakeholders.
    Keywords: Earnings management; financial reporting quality; perceptions; Libya; accountability.

  • The Effects of Regional Cross Listing on Firm Value and Financial Performance: Drawing Lessons for Lesotho   Order a copy of this article
    by Moeti Damane 
    Abstract: This research determines the effects of regional cross listing on firm value and financial performance and draws policy lessons for Lesotho. Using event study methodology, financial ratio analysis and a regional case study of two Sub-Saharan African firms that cross listed on the Johannesburg Stock Exchange in 2015 and 2016, the results of the study reveal that cross listing leads to increased firm liquidity coupled with positive and statistically significant abnormal returns. These findings confirm the legal bonding theory, the signalling theory, the investor recognition theory and the liquidity theory. It is recommended that the empirical findings of this study be used by authorities to draw locally incorporated firms attention to the potential benefits of cross listing. This should be done in conjunction with initiatives that identify and unlock any bottlenecks that act as deterrents for company listing on the Maseru Securities Market.
    Keywords: Securities exchange; Cross listing; Financial ratios; Market segmentation; Event Study Methodology.

    by Clementina Kanu, Anthony Nwali 
    Abstract: This study critically evaluates the financial instability and the performance of banks in Nigeria as regards to its causes and implications. The results obtained shows that financial instability is caused by rapid liberalization of the financial sector, poor economic policy, weak supervision, poor market discipline, and lack of capital in flow. The result reveals that it has adverse effect on the performance of banks as it hindered economic growth. The implication of this study is that the government should formulate policies that will eliminate financial stress and enhance the level of liquidity in the sector for the efficient performance of the banking system. Banks should diversify their lending activities to the agricultural sectors and tourism, encourage export activities, investment opportunities and capital inflow in order to withstand the shocks of the instability.
    Keywords: financial instability; banking sector; performance; causes; consequences; currency swap.

  • Availability of Shares on the West Africa Regional Stock Exchange: Scarcity or Illusion?   Order a copy of this article
    by B. A. Serge BAYALA, P. D. Djarius BAMA 
    Abstract: This article examines the speed at which shares change hands and the empirical link between the float level and the volume of traded shares on the stock market of the Regional Stock Exchange using secondary data from the Regional Council. The results indicate that all shares listed on the Regional Stock Exchange Value (BRVM) are less rotational and the volume of traded shares on the market is positively correlated with the volume of outstanding shares. This leads to the conclusion that most investors approach is based on conservation of shares in the Regional Stock Exchange Value (BRVM). This will inevitably lead to a reduction of the depth and liquidity of the market due to the scarcity of shares involved on the market.
    Keywords: Scarcity of shares; rotation of shares; float; volume of traded shares; stock market; bond market; volume of the funds raised; markets crises and contagion.