Related party transactions and audit fees: the role of the internal audit function

Related party transactions (RPTs) are viewed as genuine transactions that rationally fulfil other economic demands of a company. However, RPTs can also be used to transfer wealth from minority shareholders to controlling shareholders. The existence of such transactions may deteriorate financial reporting quality, increase audit risk, and as a result increase audit fees. This study examines the relationship between RPTs and audit fees in Malaysia, where ownership is often concentrated within a controlling family and corporate governance mechanisms are poor. It also investigates the moderating effect of the internal audit function (IAF) on this relationship. We find that external auditors base their fees on the types of RPTs undertaken. Specifically, our results show that audit fees are higher for firms that undertake RPTs involving the sale and purchase of assets, goods, and services. We also document that external auditors rely on the IAF, and thus their fees are lower for firms that undertake RPTs and that have made a large investment in an IAF. Our study is the first to provide evidence that RPTs in Malaysian firms may be abused as a channel to facilitate tunnelling and that the IAF plays a vital role in controlling such transactions.     

Does International Migration Affect Labor Supply,Non‐farm Diversification and Welfare of Households? Evidence from Egypt

This study examines the effect of international migration in Egypt using fixed‐effect regressions and panel data from Egypt Labour Market Panel Surveys in 2006 and 2012. We find that men and people with higher education are more likely to migrate than women and people with lower education. Middle‐aged people are also more likely to migrate than young or old people. International migration does not seem to affect the overall employment of remaining members of migrant‐sending households. However, it tends to increase the self‐employed work of members of migrant‐sending households. Finally, international migration also helps migrant‐sending households increase their wealth index. Remittances are used to improve living conditions (housing) and purchase more assets and durables. This finding supports the theory as well as the policy to increase migration as a way to stabilize consumption and reduce poverty in low income countries.     

The Secular and the Religious in the Management of Islam in Singapore

This article examines the Singaporean model of “secularism” and its impact on the relations between the Singaporean government and the minority Muslim community in Singapore. While the Singaporean state defines itself as secular, its policies do not depict a strict dichotomy between religion and state. This paper argues that the obscure nature of secularism in Singapore has led to tensions on several issues between the government and Muslim community due to differing perceptions of what Singaporean secularism means. The first section of the paper deals with the concept of secularism as defined by the Singaporean state and examine the historical factors that led to the provision of special rights to Muslims in Singapore. The paper will then analyse the legal positions of institutions such as the Islamic Religious Council of Singapore (Majlis Ugama Islam Singapura, MUIS) and the Syariah court which are tasked with managing Islamic affairs in Singapore. Lastly, the paper will analyse how the unique definition of secularism in Singapore led to tensions between the government and the Muslim community. These cases included the headscarf controversy that erupted in 2002 and 2013, the madrasah controversy in 1999, foreign policy issues and terrorism. The paper concludes by drawing a trajectory of the future relations between the Singaporean government and the Muslim community.     

Contemporaneous and Intertemporal Relationship Between the Consumption of Licit and Illicit Substances by Youth

Using a representative sample of the 1999 National School-based Youth Risk Behavior Survey, this study investigated the risky behavior of cigarette, alcohol, and marijuana consumption by underage students. The research analyzes the contemporaneous and intertemporal relationship between the use of these licit and illicit substances. Evidence of a gateway from cigarettes to marijuana was found; however, prior use of alcohol does not significantly increase the likelihood of currently using marijuana.     

Structural adjustment and family policy in Africa: Lessons from Sudan

The economic strategy pursued by a country profoundly influences the well-being of families. This article uses a social accounting model of the Sudanese economy to compare the effects of two alternative development strategies on growth, employment, and income distribution. The first strategy considered is a conventional growth-oriented strategy emphasizing irrigated, export-oriented agriculture and modern, capital-intensive industry; the second one is a traditional agriculture-led development (TALD) strategy focused on enhancing equity and improving family nutrition by expanding food production. The study's findings for Sudan demonstrate that there is no necessary trade-off between growth and equity. The TALD strategy fosters income growth for the most vulnerable families while simultaneously maximizing aggregate growth. It also holds the prospect of enhancing family equity and increasing access to traditional institutions that provide support to families.World BankHer research interests encompass issues related to poverty and inequality in developing countries. She received her Ph.D. from Cornell University.Before joining the World Bank, he was a visiting scholar at the University of Connecticut and acting head of the Department of Econometrics, University of Khartoum, Khartoum, Sudan. His research interests span development economics (growth, poverty, and equity), public finance, and economic transition in Eastern Europe. He received his Ph.D. from the University of Pittsburgh.     

Does Gender Matter?

In this article we explore gender differences in opinion regarding controversial social issues. The issues we selected are: attitudes toward African Americans, Jews, Muslims, Affirmative Action, abortion, and gays and lesbians. This selection is based on the importance of these issues in public debate and electoral politics. A number of these issues, mainly those related to opinions toward religious and racial groups, reflect the development of the American society and draw lines of possible disagreements and social cleavages. Our purpose is to draw attention to an important factor in determining public opinion toward these issues. We aim to explore issues where gender makes a clear difference, where it does not only hold an important role as other factors such as race and political affiliation, and where considerations of gender need to be combined with other personal attributes in order to understand their real impact. These highlights are intended to shed light on the role of gender in social issues as well as understanding these issues from a perspective that includes gender as a dimension in opinion making.     

Social work students field training as an opportunity to develop best practice in disabilities: the case of Jordan

This article outlines an innovative field for training efforts that foster the abilities of undergraduate social work students so that they are able to empower local communities in disability issues. It discusses the contribution of social work education in improving livelihoods of families with disabled members, challenging families as well as attitudes of local communities towards the disabled. Social work students were placed in a centre for children with developmental disabilities for a period of eight months. At this stage of their training, students were required to demonstrate their skills in working with individuals, families and communities. They were also required to identify opportunities for interventions that addressed stigma and social inclusion. Key outcomes from students’ voices were captured through their field notes, some limited observations and focus group discussions. The field training demonstrated that students managed to establish a support group for mothers with disabled children to provide a safe place to share their experiences. Student outcomes highlighted that the field experience was effective and feedback from families indicated that training raises disability awareness and facilitates women’s access to existing support systems. In addition, it engages professionals and families to work together in developing a long-term strategy to reduce isolation and exclusion, as well as to tackle health and social inequalities in Jordan.     

An Arab perspective on social media: How banks in Kuwait use instagram for public relations

This study examines the public relations functions of eight Kuwaiti banks listed in the Kuwait Stock Exchange Market (KSEM) that post on their Instagram accounts. It also uses market-size, organization, and individual level predictors to model Instagram postings. A content analysis of 1502 posts revealed the banks use Instagram for promotion, information dissemination, community building, and interactive engagement, in that order of prominence. The findings suggest banks operate at the confluence of visual communication through Instagram and integration of religious symbolism to serve a public relations function predicated on image and influence. In doing so, the banks tap into the wellspring of social media use by target publics by navigating a balance between obedience to Allah and meeting bank business objectives. The resulting tension between sacred and secular highlights Arab cultural values and suggests Instagram fosters individualism, which challenges Arab emphasis on collectivism and fractures the notion online platforms can effectively build meaningful relationships that characterize Arab culture. The study posits Instagram is more effective in an Arab context at image building than relationship building, threading the importance of visual communication through social media across Arab culture and global public relations practices.