Revisiting Financial (Accounting) Literacy:  A Comparison Of Audit Committee Members And Business Students

Giacomino, Don E.; Wall, Joseph; Akers, Michael D.

doi:10.19030/ajbe.v2i3.4046

Cited by 3 publications

(4 citation statements)

References 6 publications

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“…To fulfill such important responsibilities, having financial knowledge greatly helps the audit committee (Musallam 2020). Acquisition of financial expertise is not only possible through experience, and having education and experience together can create a financial expert (Giacomino et al 2009). After the scandal and the collapse of big companies such as Enron and WorldCom, Section 407 of the Sarbanes-Oxley Act in 2002 required companies to set up an audit committee consisting of independent members and at least one financial expert (Salehi et al 2018b).…”

Section: H8mentioning

confidence: 99%

The Moderating Effect of the COVID-19 Pandemic on the Relation between Corporate Governance and Firm Performance

Tarighi,

Hosseiny,

Akbari

et al. 2023

JRFM

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The present study aims to investigate the association between corporate governance mechanisms and financial performance among companies listed on the Tehran Stock Exchange (TSE). We also want to know if the COVID-19 global crisis moderates the relationship between them. The study sample consists of 1098 observations and 183 companies listed on the TSE from 2016 to 2021; furthermore, the statistical method used to test the hypotheses is panel data with random effects. In line with our expectations, the results show that the coronavirus pandemic worsened Iranian corporate performance. In support of agency theory, we figure out that board independence, board meeting frequency, and board financial expertise are correlated positively with firm value. In favor of resource dependency theory, this study finds robust evidence that audit committee size and independence have a positive effect on corporate performance. Most importantly, the positive linkage between board independence, board financial expertise, size, and independence of audit committee with firm performance was reversed during the COVID-19 pandemic, although the positive role of board meeting frequency in corporate profitability remained stable even during the COVID-19 outbreak. Furthermore, the outcomes indicate that CEO duality affects firms negatively, and this devastating effect became even stronger with the COVID-19 pandemic. Finally, we find that firms involved in mergers and acquisitions (M&A) managed to increase shareholders’ wealth using competitive advantage even during the pandemic.

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Section: H8mentioning

confidence: 99%

The Moderating Effect of the COVID-19 Pandemic on the Relation between Corporate Governance and Firm Performance

Tarighi,

Hosseiny,

Akbari

et al. 2023

JRFM

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show abstract

“…However, level of education, work location, and father's education were not significantly correlated with financial literacy and investment decisions. Giacomino, Wall, and Akers (2009) examined the financial literacy among undergraduate accounting and finance students at a private Midwestern university. The writers used an instrument developed and used previously by Coates et al (2007) as an extension to study the financial literacy of corporate board members and MBA students at the University of Chicago.…”

Section: Financial Literacy and Investment Decisionsmentioning

confidence: 99%

“…In some countries, several laws and regulations have been set to provide important requirements for financial knowledge and expertise even for members of audit committees. For example, in 1999 the New York Stock Exchange (NYSE) added a rule requiring each company to have an audit committee comprising of independent directors who are financially literate and including at least one financial expert (Giacomino, Wall, and Akers, 2009). This article seeks to explore the relationship between financial and accounting literacy and individual investors' participation in the UAE financial markets.…”

Section: Introductionmentioning

confidence: 99%

Accounting and financial literacy o Participants in UAE Financial Markets

Ibrahim

Haron

2018

ABR

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This article seeks to explore the relationship between financial and accounting literacy and individual investors' participation in the UAE financial markets. The article has three objectives. First, it measures the level of financial and accounting literacy among investors in the UAE financial markets. Second, it attempted to expand our understanding of how financial and accounting literacy influences investments decisions. Third, it examines the effects of demographic factors, such as age, gender, education, and nationality on investment decisions. The authors used reliability and regression analysis to explore collected data. The results indicate significant effects of the level of literacy among individual investors on thier participation in the UAE financial markets. However, no significant effects were observed for gender, educational level or nationalty.

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“…However, the studies on accounting literacy are quite limited Feast at al., (1999) the new approach to teaching provides learning support for all students by clarifying, developing and practicing the required tertiary literacy skills. The findings of Giacomino et al (2009) indicate the undergraduate students also lack financial literacy. Elson et al (2011) found that the students' average scores on the pre-test were less than the anticipated average scores.…”

Section: Introductionmentioning

confidence: 98%

Muhasebe ve Finans Okuryazarlığı: Karşılaştırmalı Bir Çalışma

Yatbaz

Çatikkaş

2019

Muhasebe Ve Finansman Dergisi

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The aim of this study is to measure the accounting and finance literacy level of the students who are studying at banking and finance department. For this purpose, a questionnaire was applied to the students at the department of banking and finance in Manisa Celal Bayar University. The questionnaire was also applied to other students who were referred to as the control group. The control group consists of students who have not previously studied accounting and finance. The questionnaire was answered by 92 students in the banking and finance department and by 95 students in the control group. One of the sub-objectives of the study is to compare between banking and finance students and control group. Thus, the existence of accounting and finance literacy in these students will be analyzed in a healthier way. According to the survey findings, while the financial literacy of the students studying in the banking department is acceptable, but it cannot be said that the same results are valid for the accounting literacy of these students.

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Revisiting Financial (Accounting) Literacy: A Comparison Of Audit Committee Members And Business Students

Cited by 3 publications

References 6 publications

The Moderating Effect of the COVID-19 Pandemic on the Relation between Corporate Governance and Firm Performance

The Moderating Effect of the COVID-19 Pandemic on the Relation between Corporate Governance and Firm Performance

Accounting and financial literacy o Participants in UAE Financial Markets

Muhasebe ve Finans Okuryazarlığı: Karşılaştırmalı Bir Çalışma

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