03. The Arab Journal of Accounting



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e-ISSN 2210-1454
DOI: dx.doi.org/10.12785/aja
Editor-in-Chief ​Dr. Abdulla Khalid Al-Jalahma
Frequency: 2 issues annually
Email: thearabiofacc@uob.edu.bh
No Publication Fee




​The Arab Journal of Accounting (AJA) is a semi-annual refereed journal. Its purpose is to publish research papers, commentary notes and book reviews that advance knowledge in all fields of accounting. Research papers should be analytical and empirically based.

To provide a balanced presentation of fields, perspectives and viewpoints, the journal solicits contributions from the fields of financial accounting, management accounting, auditing, accounting information systems, taxation, social and environmental accounting and accounting education.

    Editor in Chief
  • Dr. Abdulla Khalid Al-Jalahm

    • Managing Editor
  • ​Dr. Hessa Al-Fadhel

    • Editorial Board
  • Dr. Abdulmohsen Desoky
  • Dr. Gagan Kureja
  • Prof. Vijay Kumar Gupta
  • Prof. Gehan . Mousa
  • Prof. Tariq H. Ismail

    • Advisory Board ​
  • Prof. Khaled Hussainey
  • Prof. Turk Rai Alhmoud Alzughoul
  • Prof. Wael Elrashed
  • Prof. Ahmad Abu-Musa
  • Prof. Abdul-Rahman Ahmed Al-Muharfi
  • Prof. Ashrafi Khallaf
  • Dr Hasan Al Bastaki

Editorial Policy
The Arab Journal of Accounting (AJA) is a semi-annual refereed journal. Its purpose is to publish research papers, commentary notes and book reviews that advance knowledge in all fields of accounting. Research papers should be analytical and may be empirically based (including the use of survey, field study, or case study methods).
To provide a balanced presentation of fields, perspectives and viewpoints, the journal solicits contributions from the fields of financial accounting, management accounting, auditing, accounting information systems, taxation, social and environmental accounting and accounting education.

Submission Criteria
Submission of a paper to the (AJA) automatically implies that the manuscript is not concurrently under consideration for publication. Manuscripts should be double-spaced and should not normally exceed (35) pages (including tables, figures, appendices, notes and references). Three copies of the manuscript should be submitted on A4 paper and have consecutively numbered pages. Because the papers are refereed anonymously, they should bear no identifying marks of any kind, and only the title of the papers should appear at the top of the first page.
The cover page of the manuscript should include the title of the paper, name, title and address of the author(s), a telephone and fax number where possible, the E-mail address, and the academic or professional affiliations of the author(s). Included on the cover page should be the citation of acknowledgements and the name and address of the person to whom proofs should be sent.

Referees are asked to comment upon the originality, authority. comprehensiveness, contribution, interest and usefulness of a submitted paper. All papers are also subjected to editorial review which, whilst covering style and quality of communication, may also cover academic and scholarly content. The editor makes every effort to give a decision on manuscripts within (16) weeks of receipt.
Abstract. An abstract of about 100 words should be presented on a separate page immediately preceding the text. The title, but not the authors name or other identification designations, should appear on the abstract page and on the first page of the text. The abstract should concisely inform the reader of the manuscript's topic, its method and its findings.
Key Words. The abstract is to be followed by four key words that will assist in the indexing of the paper.
Tables and Figures. Each table and figure should appear on a separate page, be placed at the end of the text, and bear an Arabic number and a title. A reference should appear in the text to each table or figure. The author should indicate by marginal notation where each table or figure should be inserted in the text.
Footnotes should be used only where necessary to avoid interrupting the continuity of the text. They should be numbered consecutively using superscript Arabic numerals. They should appear at the end of the text, immediately before the list of references .
References cited in the text should include the surname of author(s), followed by year of publication and the relevant page numbers if required; e.g. (Gray and Roberts, 1988, p.6). For a citation authored by more than two persons, use the first author's surname and et al. (Horngren et al., 1997 p.37). References are to be shown in the text by the author's surname and year of publication enclosed in brackets. (e.g., Belkaoui, 1994, p.19); (Arens and Loebbecke, 2005). Multiple references by the same author(s) in a single year should be distinguished in the text (and in the references) by a, b, c etc. following the year of publication. Every manuscript must include a list of references containing only those works cited in the text, arranged in alphabetical order according to the surname of the first author, and placed at the end of the manuscript. Authors are required to use the following style:

Ramadhan, Sayel (1989). The Rationale for cost allocation: A study of U.K. Divisionalized companies, Accounting and Business Research, Vol. 20, No. 77.

Ramadhan, Sayel and Cummings, Richard (2011). Voluntary disclosure of environmental information by petrol stations in Bahrain: A legitimacy theory perspective, International Journal of Arts and Sciences, Vol. 4, No. 6.

Gray, Sidney J., Radebaugh, Lee. H. and Roberts, Clare B. (1990). International perceptions of cost constraints on voluntary information disclosures: a comparative study of UK and US multinationals, Journal of International Business Studies, Fourth quarter, pp.597-622.

Page Proofs will be sent for correction to a first-named author, unless otherwise requested; any alteration to the original text is strongly discouraged.
Research Instrument. In the case of manuscript reporting on field surveys or experiments, a copy of the instrument (questionnaire, case, interview, plan, or the like) should be submitted.
​Upon acceptance of a paper for publication, the author(s) will be requested to provide a diskette copy of the paper on a word processor. Authors will be requested to transfer copyright of their paper to the Arab Journal of Accounting upon acceptance for publication. In consideration for the assignment of copyright, the publisher will supply twenty off prints of each paper and two copies of the journal free of charge.
Correspondence: All correspondence should be made to the following address:

Editor-in-Chief
The Arab Journal of Accounting
University of Bahrain
College of Business Administration
P.O. Box (32038)
Manama-Kingdom of Bahrain


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    The Effect of Culture on Budgetary Slack: Evidence from Jordan
    (2017-12-01) Odat, Mahmoud; Al-Farhan, Derar; Yarmouk University - Jordan.; Researcher; Jordon; Jordon
    We investigate the relationship between Hofstede’s cultural values and budgetary slack in Jordanian financial companies listed on Amman Stock Exchange (ASE). The financial sector companies were selected because managers within these companies often have better understanding of accounting practices, including budgeting, than managers in non-financial companies. Data are collected, using a questionnaire, from 54 individuals who occupy a financial manager position or head of department within these companies. Based on the non-parametric one sample t-test, the results show that power distance, uncertainty avoidance, collectivism, femininity and short-term orientation are positively associated with budgetary slack, while restraint is negatively associated with budgetary slack.
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    The Impact of Ownership Concentration and Audit Committees Characteristics on Corporate Social Responsibility Disclosure in Jordanian Public Corporations: An Empirical Study
    (2017-12-01) Alhmood, Turki R.; Alshorman, Salah Aldain; Qaderi, Sumaia A.; Yarmouk University - Jordan; Alhudaida University - Yemen; Jordon; Yemen
    This study investigates the impact of ownership concentration and audit committees (AC) characteristics on the level of corporate social responsibility (CSR) disclosure, using a sample of Jordanian public corporations listed on Amman Stock Exchange during the period 2014-2016. Using multiple linear regression analysis, the study finds that AC independence, AC meetings, and AC ownership have a statistically significant positive influence on the level of CSR disclosure. A negative impact of ownership concentration on the level of CSR disclosure is also documented. However, there is no evidence that AC characteristics such as AC size and AC financial expertise affect the level of CSR disclosure.
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    Suitability of the Economic Value Added (EVA) and Traditional Financial Indicators to Measuring the Abnormal Market Returns An Empirical Study of Service companies listed on Amman Stock Exchange
    (2017-12-01) Al Masarwh, Ayman Hamed; Zalloum, Nidal Omar; Amman University College- Jordan; Al-Balqa Applied University- Jordan; Jordon; Jordon
    The main aim of the study was to assess the suitability of (the economic value added index and the traditional financial indicators) in measuring the Abnormal market returns of the shares of service companies listed on the Amman Stock Exchange. The study was conducted on a sample consisting of (187) observations to which the conditions were applied, during the period (2005-2015). In this study the companies’ data was collected from the annual reports published on the Amman Stock Exchange. Furthermore, a Panel data Approach were used to test the study hypotheses, through both the fixed effects model and the random effects model. The study concluded that traditional financial indicators are more appropriate in measuring Abnormal market returns. The results of the study also showed when retesting the assumptions with the company size being entered as a moderating variable, that there is an improvement in the economic value added index in measuring the Abnormal market returns, with the preference remaining for the traditional financial indicators.
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    Evaluation of Event Study Methodology in Finance and Economics
    (2017-12-01) Al-Shawawreh, Fawaz Khalid; Mutah University - Jordan; Jordon
    This paper deals with the fundamental issues faced by researchers in the application of the “event study methodology” to study the economic effects of long-term financial events and how the market responds to mergers and acquisitions, profit or debt announcements, corporate reorganization and investment decisions, and dividend announcements,…, since many studies in finance have provided evidence that companies can achieve longterm abnormal returns during a period of time between one and five years following important financial events, The long – term performance is considered a challenging area of research, than the short-horizon effect. Generally, the short-term trend is not exceeding several days after the financial event the main reason why the long-term yield is more difficult to measure is that the short-term expected daily return after the financial event will be close to zero, and the model used to measure the expected return will not have a significant impact on the statistical tests of the abnormal return. so, some statistical issues emerge, and that the measurement of the abnormal return on the long term will be subject to different statistical biasness. This research presents the most important models used to measure expected return. It also discusses the most important statistical tests showing their strengths and weaknesses in each model.
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    The Relationship between Total Quality Management and Firm’s Comprehensive Performance: An Empirical Study
    (2017-06-01) Abdul Rahman, Abdul Aziz Ahmad; Hamdan, Hayan Mahmoud; Kingdom University; Alwataniya University; Bahrain; Syria
    The main purpose of this study is to test the relationship between total quality management (TQM) and the comprehensive performance which is expressed by employee satisfaction, product quality, strategic performance, and customer satisfaction. The sample of the study consists of the employees of the largest three pharmaceutical companies in Hama and Homs in Syria. A questionnaire was developed to collect the data. The results showed that a statistically significant relationship exists between TQM practices and product quality, strategic performance, and customer satisfaction. The results also showed a weak statistically significant relationship between TQM practices and employee satisfaction. The research recommended to focus on all aspects of the comprehensive performance, specifically employees’ satisfaction.
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    The Qualification Requirements of Algerian Universities’ Accounting Graduates According to the International standards of Accounting Education: A Field Study
    (2017-06-01) Meziani, Noureddin; Cherigui, Omar; University of Skikda; Ferhat Abbas University; Algeria; Algeria
    The objective of this study is to investigate the qualification requirements among accounting graduates of Algerian universities according to the international standards of accounting education. This research is based on a statistical analysis of the initial collected data through a questionnaire distributed to a sample of 64 accounting professors and 220 accounting graduates. The results show that there is a general compliance between most normative learning outputs and those acquired by the accounting students, especially with technical competency, ethics, values, and professionalism. However, the research indicates that the learning outputs of the professional skills of the graduates are below the required level. The study recommends that the current accounting programs should adopt the learning outputs of professional competency according to the international standards of accounting education, especially professional skills development . The research also recommends introducing solid foundations of values and ethics that are required in the accounting profession, as well as establishing strict admission requirements that comply with the International Standards of Accounting Education.
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    Investigating the Asymmetric Dynamic Financial Behavior in Jordanian Firms of Amman Stock Exchange: An Empirical Study
    (2017-06-01) Zuraiqat, Zeyad; Sartawi, Iaad; Odat, Mohammad; Ismail, Rajab; Yarmouk University; Applied Science University; Jordon; Bahrain
    The study aims at investigating the financial behavior of Jordanian firms by using the asymmetric dynamic model of the Pecking Order Theory between 2000 and 2016. This research is based on a panel data of 952 observations from a sample of 56 industrial firms from Amman Stock Exchange (ASE). Estimating the static symmetric model and using the random effect model, the study ddoes not find any support for the implementation of the pecking order theory by Jordanian firms except for well-established firms, where the financing deficit coefficient is statistically significant and equal to one. Furthermore, the results indicate that the financial decisions of some Jordanian firms are affected by free cash flow agency costs while other decisions are affected by the bankruptcy risk. This confirms the severeobstacles of the capital market in Jordan and their direct impact on the financial decisions of the Jordanian firms. Therefore, the study recommends the effective implementation of the principle of transparency and the development of legislation to ensure effective control of the market and protection of investors.
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    Impact of Financial Policy on Profit Management: A Case of Selected Algerian Companies
    (2017-06-01) Bilal, Kimouche; Departement of Finance and Accouning University of 20 August 1955; Algeria
    The aim of this study is to explore whether the financial policy of Algerian companies affects profit management. In this research, financing policy is expressed by two indicators of financial structure: short-term debts ratio and leverage rati;, and two indicators of financing cost: financial charges and WACC. Profit management is measured by discretionary accruals based on the modified Jones (1995) model. The study includes 25 companies during the period of 2003-201. The research is based on 193 observations of an unbalanced panel data, depending on Multiple Regression through panel data estimation models. The results suggest that the relationship between financial structure indicators and profit management is not statistically significant. However, there is a positive and statistically significant relationship between WACC and profit management. The relationship between financial charges and profit management doesalso prove to be significant though negative.
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    Firm Specific Characteristics and Voluntary Disclosure: Evidence from Saudi Arabia
    (2016-12-01) Alghamdi, Salim A.; Taif University-; Saudi Arabia
    The purpose of this study is mainly to investigate the association between firm-specific characteristics and voluntary disclosure level in annual reports. Firm-specific factors identified for this study are profitability, firm’s age, firm size, auditor size, leverage, and ownership structure. Voluntary disclosure is measured by using the voluntary disclosure index while firm-specific variables are measured according to numerous proxies utilised by previous studies. Hence, a multiple regression analysis has been employed to identify the relationship. The findings show that the variables which have a positive influence on voluntary disclosure are profitability, firm size, and governmental ownership, while family ownership is found to be negatively associated with voluntary disclosure. The findings have could be helpful to investors, management, regulators and legislators in their attempts to comprehend the important factors influencing voluntary disclosure and to reduce agency problems.
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    Excess Liquidity and Financial Performance of Islamic Banks in the Kingdom of Bahrain: An Field Study
    (2016-12-01) Khasharmeh, Hussein; Albasri, Anwar; Applied Science University; Bahrain
    This study aims to investigate the relationship between excess liquidity and financial performance in Islamic banks in the Kingdom of Bahrain during the period (2009-2016). The study sample included twelve Islamic banks. To achieve this goal, the data were analyzed using the Heterogeneous Multiprotocol Analysis using the random effect model (STATA). The necessary data were collected from the annual reports of the sample. The study showed a statistically significant inverse relationship between excess liquidity and financial performance in Islamic banks. The study showed a statistically significant positive correlation between capital adequacy and financial performance in Islamic banks. The study concluded with a number of recommendations, the most important being the Central Bank of Bahrain to consider the possibility of opening an Islamic window to take advantage of excess cash available in Islamic banks through the acceptance of short and medium-term investment deposits in return for those Islamic banks on a profit margin in line with one of the Islamic investment formulas, And in return to grant loans with a profit margin also in accordance with one of the forms of Islamic finance.