Forthcoming Articles

International Journal of Accounting and Finance

International Journal of Accounting and Finance (IJAF)

Forthcoming articles have been peer-reviewed and accepted for publication 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 Articles will not be published until the final proofs are validated by their authors.

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International Journal of Accounting and Finance (2 papers in press)

Regular Issues

  • Empirical implications of the fundamental theorem of accounting   Order a copy of this article
    by Jonathan Ross, David Ziebart 
    Abstract: Using quarterly data, we measure the divergence between a firms accounting rate of return and the firms market rate of return in period t for all firms in the CRSP/Compustat merged database over the time period 19752021. We find that a firms quarterly market rate of return is more likely to be greater than the rate of return on assets implied by the accounting of that firm. We document several empirical implications of this result. Our empirical results support the main point of the fundamental theorem of accounting. Namely, the double-entry system of accounting contains the information sufficient to value the firm and there is empirical evidence that the market fails to incorporate this into its valuation. Empirically, the market consistently misses the usefulness of the return on assets and is in a constant state of correction to better align its expectations with those implied by the underlying accounting information.
    Keywords: fundamental theorem of accounting; predicting market returns; accounting information; return on assets; post-earnings announcement drift.
    DOI: 10.1504/IJAF.2026.10079146
     
  • Financing SMEs: performance ranking of Canadian financial lenders   Order a copy of this article
    by Avninder Gill 
    Abstract: Small and medium enterprises (SMEs) significantly contribute to the national and world economies and are the major vehicles of economic growth. Most financial lenders consider it a part of their social stewardship to support SMEs, but SMEs still face some challenges in securing debt finance from lending institutions. This paper applies the discriminatory power of grey relational analysis (GRA) and utilises data driven entropy weights to address subjectivity in the decision-making process to develop a ranking system that captures the SMEs access to debt financing and ranks the financial institutions based on eight criteria. SMEs can utilise such ranking systems to approach some financial institutions confidently while with others, SMEs are likely to experience a random success rate. The paper also reviews the relevant literature on SME debt finance and provides concluding remarks.
    Keywords: SME finance ; debt financing; grey relational analysis.
    DOI: 10.1504/IJAF.2026.10079774
     

 

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