Accounting - ResearchGate

Internationul
Journal of
Economics
and
Accounting
Volume 4, No. 2,2013
Publisher's website: wrvw.inderscience.com
Email : [email protected]
ISSN (Online) 2041 -E698
2041-868X
ISSN(Print)
[email protected] lnderscience Enlerprises Ltd
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Published and typeset in the UK by lnderscience Enterprises Ltd
ln!. J. Etttnomics und Accouttting. l/ol. 4, No. 2. 2013
Gontents
123
Stock option freud detection and an analysis for its reasons:
Arabic Republic of Egypt case
Trtkia M. Alaa Eldeen arul Ahned F. Elbaytumi
r38
The finenciel condition of Nigerian benks: en evatuetion
Jonathan Njoku and Eno L. Inango
t55
On the informetion content of eudit opinion: evidence from the Tunisian
Stock Exchange
Faten Hakim Ghorbel and Mohamed Ali Omri
r69
Examining bclief adjustment model on investment decision making
Luciano Spica Almilia and Supriyadi
184
Voluntary disclosure in the annual reports of Fijian companies
Umesh Sharma and Howard Davqt
lnternational Journal of Economics and Accounting
(tJEA)
Editor in Chief
Professor Tony Tinker
llanrrch Collegc at thc Ciry tlnivcrsity of Ncw York, Onc llcrnard llaruch Way
Ncw York, NY l0Ol0, trSA
IimaiI: Anthony.Tinker(1 baruch.cuny.edu
Editors
Professor Aida Sy
Marist College, School of Managcment, 3399 North Road, poughkeepsie,
Iimail: [email protected]
Ny l2fll-13E7,
USA
Professor Charles Eled
University of Westminster, Wcslminstcr Busincss School,35 Marylebone Road
l-ondon, NW I 5LS, UK
Email: [email protected]
Members of the Editoriel Board
Professor Vicky Arnold
[Jniversity of Central Florida
College of Business Administration
Kenneth C. Dixon School ofAccounting
Orlando, FL 32816, USA
Email: [email protected]
Professor Stanley Aronowitz
Distinguished Professor of Sociologr
City University of New York
& University Centre
Department of Sociologr Center for Cultural
Studies, 33 West 42nd St.
Graduate School
New York NY 10036, USA
Emai I : [email protected]
Professor Edward Arrington
North Carolina at Greensboro
Department of Accounting
Bryan School oI Business & Economics
PO Box 26165
Greensboro NC 27402-6165, USA
Emai I : [email protected]
Professor Atik Asuman
Marmara University
Faculty of Economics & Administrative
Sciences, Department of Business
Administration, Gozepe Campus Kadikoy,
lstanbul, Turkey
Email: [email protected]
Da Owolabi Bakre
Queen Mary, University of London
Mile End Road
London El 4NS, UK
Email: [email protected] l.com
Professor Bale Belechandren
South Bank University
AFBIS, South Bank Business Schor:l
103 Borough Rd., London SEI 0AA UK
IJmail: [email protected]
Professor Fnncisco Bastida
University of Murcia
Department of Accounting
Facultad Economla y Empresa
Campus Espinardo, 30100 Murcia, Spain
limail: [email protected]
Professor Devid Bean
lona College, Accounting D€partment
School of Business
7l 5 North Avenue, New Rochelle
NY 1080t-1890, usA
Email: [email protected]
Professor Bernardino Benito
University of Murcia
Department of Accounting
Facultad Economia y Empresa
Campus Espinardo, 301 00 Murci4 Spain
Email: [email protected]
Professor Merk Bettner
Bucknell University, Accounting Faculty
Department of Management .
lewisburg PA 17837, USA
Email: [email protected]
Agnes Bricerd
Presidente d'honneur du Conseil Regional de
I'Ordre des Experts Comptables
Cabinet ABC Audit Bilan Conseil
63, Boulevard des Batignolles
75fi)8 Paris, France
Email: [email protected]
r
Members of the Editorial Board (continued)
Professor Susan Briggs
Univenity of South Australia
School of Commerce
Adelaide, SA 5001, Australia
EmaiI: [email protected]
Professor Abe Brilolf
Emanuel Saxe Distinguished Professor
Emeritus, Baruqh College at the City
University of New York, Department olAccounting Zicklin School of Busincss
One Bemard Baruch Way
New York NY 10010-5585, LlSA
Email: [email protected]
Professor Alan Cherry
Loyola Marymount University
Department of Accounting
Hilton Center for Business
One LMU Drive: MS 8385
Los Angeles CA 9m45-2659, USA
Email: [email protected]
Professor Bernard Colesse
U niversity of Paris-Dauphine
Place du Marechal de Lanre de Tassigny,
757:-5 Paris Cedex 16, France
Email : [email protected] ge.dauphine.fr
Professor Jean4uy Degos
Montesquieu University
FIRCCI Research Centre of IAE
35, avenue Abadie,33072 Bordeaux, l-rance
F)mai
I
:
[email protected] fr
Professor Henrique Formigoni
Presbyterian University Mackenzie
Center for Applied Social Science
Rua da Consolagio, 896 - Predio
S5o Paulo, Brazil
Email: [email protected]
Professor Ross Fuerman
Suffolk University, Department of Accountin&
Sawyer Business School
8 Ashburton Place, Boston
MA 02r08-2770, USA
Email: [email protected]
Professor Michael GaIlikin
University of Wollongong
Department of Accountancy
PO Box I 144, Northfields Avenue
Wollongong NSW 2522, Auslralia
Email: [email protected]
Professor Micheel M. Grayson
Texas A&M International University
Division of lntemational Banking and Finance
Studies, A.R. Sanchez
Jr. School ofBusiness, 5201 lJniversity
Boulevard, [.aredo, TX 78(Xl-1900, L]SA
Email : [email protected])tamiu.edu
Professor Joshua O. Imoniana
Presbyterian I Jniversity Mackenzie
Center for Applied Social Sciencc
Rua da Consolagio, 896 - Predio
Sio Paulo, Brazil
Emai
Professor Peul De Lrnge
RMIT University
School of Accounling and [,aw
L15,239 Bourke St
It.,lelboume, Victoria 3000, Australia
Fimail: [email protected]
Professor Cebriel Donlervy
Professor of Accounting
School of Accounting
University of Wcstem Sydney
l.ocked Bag 1797
Pcnrith South DC. NSW 1797, Australia
I
:
[email protected]
Profcssor Ttriq lsmeil
Cairo University, Department of Accounting,
Faculty of Commerce
Orman, Ciza I 261 3, Egypt
Emai I : thassaneen(rlcu.edu.eg
Dr. Kieran Jrmes
Univcrsity of Southcrn Quecnsland
School ofAccounting F:conomics and Finance,
I"aculty of llusincss
Toowoomha Qld. 4350, Australia
I
imai
I
:
jamcsk(a)usq.edu.au
l.)mail : houhynym(a)yahrxr.com
Professor l,eonor Ferreira
I'rolu;vrr oI Accounting
I lnivenidadc Nova dc l.iskla
l;aculdadc dc l]conomia
Campus de CamJxrlidc
I Ur9-012 I -istxra, l>ortugal
l:mail: lconor.l'crrcira(a)l.r.unl.pt
Professor Stewart Lawrence
tlniversity of Waikato
I)cpartmcnt 0l' Accounting
Schrxrl of Managcmcnt Studics
l'rivate llag
3 105, I
lamilton, Ncw Zcaland
l')mai I : stewanl(a)waikato.ac.nz
Members of the Oditorial Board (continued)
Professor Stewart l,eech
tlnivcmity ol' Melboumc
l)cpartmcnt ol'Accounting
'lh.L Sfxrt, l9{t
l}crkelcy Sr
l'arkvillc, Victoria 3010, Aus(ralia
Iimail: s.loc.ch(a)ccomlhc.unimclb.cdu.au
George Mickheil
Senior l,ccturcr, llniversity of Wollongong
Dcpartment ol Accountarrcy
School of Accounting & Finance
PO Box I 144, Northfields Avcnue
Wollongong NSW 2522, Australia
Email: [email protected]
Dr. Hasri Mustgfe
Universiti Putra Malaysia
Department of Accounting and Finance
F'aculty of l-)conomics and Management
43400 UPM Serdang Selangor, Malaysia
llmail: h:[email protected]
Professor Brendan O'Connelt
RMI'l' University
School ofAccounting and Law
Level 15, 239 Bourke St
Melboumc, Victoria 30fi), Australia
Email : [email protected]
Professor Frhrettin Okcabol
310 E. 70th Stre€r, Apr. 4-F
New York NY 10021, USA
Email: [email protected]
Professor Bertell OIlman
New York Univexity
Department of Politics
Washington Square
New York NY 10003, USA
Email: bol @is8.nyu.edu
Professor Stephane Ouvrard
Montesquieu Bordeaux I V University
ERCCI - Research Centre for lntemational
Auditing and Accounting
33072 Bordeaux cedex, France
Email: [email protected]
Dr. Akintole Owolabi
Pan-African University
Lagos Business School
Km 22 Lagm-Epe Express Way
P.O. Box 73668, Victoria Island
Lagos, Nigeria
Email: [email protected]
Professor Bob Peece
North Carolina State [Jnivorsity
I)cpartmcnt of Accounting
Collcgc ol'Managcmcnt
Campus llox 8l ll, Nclson llall
Ralcigh, NC 27695 - 8tI3, USA
limail: [email protected] I .com.ncsu.edu
Professor Yvon Pesq ueux
ProGsseur Titulaire dc la Chaire
C.N.A.M., Dcveloppement des Systemes
d'Organivtion, 292, rue SainrMartin
75141 Paris Cedex 03, France
limail: [email protected]
Professor Norio Sawebe
Kyoto University
Craduate School of Economics
Kyoto, Japan
Emai I : [email protected]
jp
Professor Farhad Simyar
Chicago State Universiry
Deparlment of Accounting and Finance
College of Business Administration
Chicago lL 6062E-1598, USA
Email: [email protected]
Professor L Murphy Smith
David and Ashley Dill Distinguished professor
ofAccounting
Murray State University, College of Business
351 Business Building
Murray, KY 42071-3314, USA
Email: [email protected]
Professor Miklos Vesarhelyi
Rutgers, The State UniveBity of New Jersey,
Rutgers Business School
Department of Accounting & lnformation
Systems, Newark. NJ 07102, IJSA
Email: [email protected]
lnt. J. Ettmomic's und Acuunting. Vol. 4. No. 2. 2013
Examining belief adjustment model on investment
decision making
Luciana Spica Almilia"
Perbanas Business and Banking College,
Nginden Semolo No. 3zl-36 Surabaya 601 I 8, Indonesia
E-mai I : [email protected]
*Corresponding author
Supriyadi
Faculty of Business and Economics,
Gadjah Mada University,
Jl. Nusantara, Bulaksumur, Yogyakarta 5528 l, lndonesia
E-mail: [email protected]
Abstrrct: This research aims to examine the influence of order effecB and
of sequence (EoS)] or belief
adjustment model on investment decisions making. The contribution of this
research to the accounting litcrature is the cxistence of Belief Adjustmcnt
model developed by llogarth and Einhorn that will be resred in this study in
rcsponse mode [a step by step (SbS) ard an end
setting the investment decision.
Experimcnt mcthod is used to examine the research hypotheses. Final
participant(s) in this research werc (are) 93 people who are accounting students
majoring in accounting at the private university in Surabaya lndonesia. The
resuls of this study show that a step by step (SbS) response mode tends to find
significant recency efTect, while judgment that require only onejudgment at the
end of the evidence series. Meanwhile, an end of sequence (EoS) response
mode tends to find no recency effect.
Practical implications of the research is to understand the impact of the
presentation of accounting information, lhe order of information presentation,
and the presentation of information investment decision pattern. For lhe Capital
Market Supervisory Agency (BAPEPAM), this research may contribute to
setting policies rclated to information order and disclosure pattem.
Kcywords: slep by step; SbS; end of sequerrce; EoS; order effect; recency
effect; investment decision.
Reference to this paper should be made as follows: Almilia, L.S. and Supriyadi
(2013) 'Examining belief adjustment model on investment decision making',
lnt. J. Economics and Accounting, Vol.4, No.2, pp.l69-183.
Biogrrphicel notes: Luciana Spica Almilia holds a Master of Science from the
Accounting Department at Cadjah Mada University - Indonesia. She is a
Senior l,ecturer at the Deparunent of Accounting, Perbanas Banking and
Business College, Surabay4 lndonesia- His research interest is in the fields of
information system and financial accounting. She has already published in
international joumals such as lnternatiottal Jownal of Business Infurmotion
Systems, Journal of lndonesia fuonomic and Business, university of the Thai
Chamber of Commerce - lnternotiorral Jownal of Business and bonomics,
and, Accounting and Taxation.
Copyright O 2013 lnderscience Enterprises Ltd.
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