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 Authors are encouraged to submit complete, unpublished, original, and full-length articles that are not under review in any other journals.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: Articles Received: 531; Accepted: 330; Rejected: 177; Published: 290; Retracted: 1

2014 Q4: Articles Received: 131; Accepted: 89; Rejected: 29; Published: 71; Retracted: 0

2014 Q3: Articles Received: 106; Accepted: 69; Rejected: 30; Published: 77; Retracted: 1

2014 Q2: Articles Received: 128; Accepted: 85; Rejected: 44; Published: 71; Retracted: 0

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


  • e-Version First: Vol. 7, No. 2


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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Vol 7, No 1 (2015)

Vol. 7, No. 1, January 2015

Table of Contents


Commodity Export Prices and Exchange Rate: An Australian Perspective PDF
Rajiv Bhar p1
The Size and Value Effect to Explain Cross-Section of Expected Stock Returns in Dhaka Stock Exchange PDF
Md. Bokhtiar Hasan, Md. Nurul Alam, Md. Ruhul Amin, Md. Afzalur Rahaman p14
Dividends as a Solution to Agency Cost and Opaqueness: Theory and Evidence PDF
Brandon C. L. Morris, Brian S. Roseman p24
Pessimism Shocks in a Model of Global Macroeconomic Interdependence PDF
Rod Tyers p37
Financial Constraints and U.S. Recessions: How Constrained Firms Invest Differently PDF
Timothy J. Haase p60
CEO Traits, Corporate Performance, and Financial Leverage PDF
Hsien-Chang Kuo, Lie-Huey Wang, Dan Lin p68
The Impact of Independent Directors on the Cash Conversion Cycle of American Manufacturing Firms PDF
Amarjit Gill, Nahum Biger, John Obradovich p87
Using Quantile Regression to Analyze Mutual Fund Risk and Investor Behavior of Variable Life Insurance PDF
Nan-Yu Wang, Sen-Sung Chen, Chih-Jen Huang, Cheng-Hsin Yen p97
Effects of Economic Growth on CO2 Emissions in the “Congo Basin” Countries PDF
Nkengfack Hilaire, Hervé Kaffo Fotio p107
Decay Factor as a Determinant of Forecasting Models PDF
Grzegorz Mentel, Jacek Brozyna p118
Data Uncertainty, the Output Gap and Monetary Policy in the United Kingdom PDF
Graeme Chamberlin p129
Trends of Project Funding in Provincial-Level Agricultural Research Institutions in China and Recommendations for Fund Management PDF
Xia Li, Ying Chen, Hezhong Dong p147
Estimating the Turkish Sectoral Market Returns via Arbitrage Pricing Model under Neural Network Approach PDF
Fazil Gokgoz, Ozge Sezgin-Alp p154
The Role of Regulations and Ethics Auditing to Cope with Information Technology Governance from Point View Internal Auditors PDF
Atallah Ahmad Al Hosban p167
Drivers for Wealth Creation in Firms: An Empirical Evidence from Gulf Cooperation Council Markets PDF
Rajesh Kumar p177
Empirical Study about The Interaction Between Equalization Funds, Regional Financial and Human Development Index in Regional Economic PDF
Timbul Hamonangan Simanjuntak, Imam Mukhlis p192
Determinants of Bank Performance in Ghana, the Economic Value Added (EVA) Approach PDF
George Owusu-Antwi, Lord Mensah, Margret Crabbe, James Antwi p203
The Capital Asset Pricing Model: An Overview of the Theory PDF
Mona A. Elbannan p216
Trends & Emerging Areas in Merchant Acquiring Industry PDF
Tapomoy Koley, Shounak Ghosh, Shameek Ghosh p229
Financial Development, Trade Openness and Economic Growth: A Trilateral Analysis of Bahrain PDF
Hatem Hatef Abdulkadhim Altaee, Mohamed Khaled Al-Jafari p241
Merger Returns and Choice of Payment Method: A Case from the Indian Banking Industry PDF
Rohan Chinchwadkar p255
The Determinants of the Tunisian Banking Performance: A Panel Data Analysis PDF
Ines Ayadi, Abderrazak Ellouze p262
Reviewer Acknowledgements for International Journal of Economics and Finance, Vol. 7, No. 1 PDF
Michael Zhang p273

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

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