International Journal of Economics and Finance

International Journal of Economics and Finance (IJEF) is a double-blind peer-reviewed international journal dedicated to promoting scholarly exchange among teachers and researchers in the field of economics, financial economics and finance. The journal is published monthly in both print and online versions by the Canadian Center of Science and Education.

The scope of IJEF includes the fields in the economics and finance. Authors are encouraged to submit complete, unpublished, original, and full-length articles that are not under review in any other journals. The online version of the journal is free access and download. If you want to order print copies, please visit:

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2014 Q1: Articles Received: 166; Accepted: 87; Rejected: 74; Published: 71; Retracted: 0

2013: Articles Received: 548; Accepted: 253; Rejected: 292; Published: 187; Retracted: 1

2013 Q4: Articles Received: 172; Accepted: 88; Rejected: 91; Published: 50; Retracted: 1

2013 Q3: Articles Received: 139; Accepted: 53; Rejected: 74; Published: 40; Retracted: 0

2013 Q2: Articles Received: 112; Accepted: 46; Rejected: 70; Published: 44; Retracted: 0

2013 Q1: Articles Received: 125; Accepted: 66; Rejected: 57; Published: 53; Retracted: 0



IJEF follows APA style.


Author Guidelines

1. Authors must ensure that their papers are free of spelling and grammatical errors and typos.

2. Research papers should not exceed 8,000 words.

3. A separate title page of an article should contain the title of the paper, name(s) and affiliation(s) of the author(s).

4. The first page of an article should contain an abstract not exceeding 250 words and a maximum of eight keywords.

5. Equations in the text should be numbered consecutively using Arabic numerals within simple brackets and aligned against the right margin.

6. All appendices should be numbered consecutively using uppercase roman numerals and shown after the list of references.

7. References should be cited within the text as follows: According to Wickremasinghe (2005), foreign exchange market … These results are inconsistent with those of other studies (Perera, 1995; Silva, 2000)

8. List of references should show each citation in alphabetical order and follow the style of APA

9. Author should register with the journal before submitting manuscripts.

10. Page proofs will be sent to the corresponding author. The corrected manuscripts should be submitted, and the publication fee should be paid within 10 working days.

11. The publication fee is 300USD.



The publisher and journal have a policy of “Zero Tolerance on the Plagiarism”. We check the plagiarism issue through two methods: reviewer check and plagiarism prevention tool (

All submissions will be checked by iThenticate before being sent to reviewers.

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Universe Digital Library

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Vol 6, No 5 (2014)

Vol. 6, No. 5, May 2014 e-Version FirstTM

Table of Contents


The Impact of International Outsourcing on U.S. Workers’ Wages: Rethinking the Role of Innovation PDF
Kuang-Chung Hsu, Hui-Chu Chiang p1
The Persistency of Correlation between Currency Futures: A Macro Perspective PDF
Yao Zheng, Eric Osmer, Jiashun Liu p17
Is Economical and Social Development Really Linked with the Shift of Labour from Secondary to Tertiary Sector? Evidence from the Italian Case PDF
Enrico Ivaldi, Riccardo Soliani p26
The Japan Stock Split Bubble and the Livedoor Shock PDF
Youki Kohsaka p33
Constraints to Women Smallholder Farmers’ Efforts in Ensuring Food Security at Household Level: A Case of Msowero Ward of Morogoro Region Tanzania PDF
Halima Pembe Yahya, Zhang Xiaohui p47
Foreign Direct Investment, Intellectual Property Rights and Economic Growth: A Panel Study for Arabic Countries PDF
Hadhek Zouhaier, Mrad Fatma p56
Specificity of the Culture of Governance in the Mediterranean Arab Countries: A Principal Components Analysis PDF
Najah Souissi, Messaoud Boudhiaf p64
The Dynamic Relationship between Managerial Ownership and Corporate Diversification: Evidence for Family and Non-Family Businesses PDF
Tsui-Jung Lin, Li Chang, Chi-Ping Hou, Pei-Rong Chou p84
Capital Structure and Financing of SMEs: The Tunisian Case PDF
Wafa Hadriche Ben Ayed, Sonia Ghorbel Zouari p96
The Relationship between Applying Methods of Accounting Information Systems and the Production Activities PDF
Ali Mahmoud Alrabei, Ayman Ahmad Abu Haija, Laith Abdallah Aryan p112
Is Underpricing an Appropriate Proxy for Studying IPO Certification? PDF
Mike Hopkins, Donald G. Ross p117
The Unemployment Rate and Labor Force Participation Rate Nexus for Female: Evidence from Turkey PDF
Zekeriya Yildirim p139
Macroeconomic Determinants of Commodity Returns in Financialized Markets PDF
Adam Zaremba p147
Stocks of Firms under Reorganization Procedure PDF
Xavier Brédart p163
An Empirical Study of Customer Satisfaction towards Bank Payment Card Service Quality in Ho Chi Minh Banking Branches PDF
Nhu Ty Nguyen, Thanh Tuyen Tran, Chia Nan Wang p170
Diversification as a Corporate Strategy and Its Effect on Firm Performance: A Study of Zimbabwean Listed Conglomerates in the Food and Beverages Sector PDF
Mashiri Eukeria, Sebele Favourate p182
Are GCC Countries Converging or Diverging: Evidence from 1983–2011 PDF
Khalid M. Kisswani, Yousef M. AbdulRazaq p196
The Future of Islamic Banking in Sultanate of Oman PDF
Soofi Asra Mubeen, Neelufer Aslam Kulkarni, Yahya Khamis Al Hussaini p203
Shariah Audit Certification Contents: Views of Regulators, Shariah Committee, Shariah Reviewers and Undergraduate Students PDF
Zurina Shafii, Supiah Salleh, Nurazalia Zakaria, Mustafa Mohd Hanefah, Nor Aishah Mohd Ali, Rochania Ayu Yunanda p210
Analysis of Financial Intermediation and Profitability: “A Case Study of the Ghanaian Banking Industry” PDF
Richard K. Akoto, Gladys A. A. Nabieu p220
Estimating the Output Gap of Pakistan on Quarterly Frequency Using Structural Methods PDF
Mian Abdullah Tahir p233
The Circle of Investment: Connecting the Dots of the Portfolio Management Cycle—Under the Purview of the Uncertainty Principle of the Social Sciences PDF
Ravi Kashyap p244
Private and Public Investment in Africa: A Time-Series Cross-Country Analysis PDF
Gérard Tchouassi, Ngwen Ngangue p264
Managerial Ownership, Leverage and Dividend Policies: Empirical Evidence from Vietnam’s Listed Firms PDF
Duc Hong Vo, Van Thanh-Yen Nguyen p274
Reviewer Acknowledgements for International Journal of Economics and Finance, Vol. 6, No. 5 PDF
Michael Zhang p285

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International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)

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