International Journal of Financial Research

International Journal of Financial Research (ISSN: 1923-4023; E-ISSN: 1923-4031) is an open-access and peer-reviewed journal published by Sciedu Press in Canada. This journal is published quarterly (January, April, July and October) in both print and online versions. All publications are open access in full text and free to download.

This journal publishes original and leading research across all the major fields of accounting, finance and economics, ranging from institutional & corporate finance, accounting, insurance & risk management, monetary banking, stock exchange, to business economics, development economics, capital markets and more.


This journal accepts article submissions online or by e-mail (





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2015: Articles Received: 124; Accepted: 64; Rejected: 40; Published: 77; Retracted: 0

2015 Q4: Articles Received: 35; Accepted: 17; Rejected: 11; Published: 21; Retracted: 0

2015 Q3: Articles Received: 29; Accepted: 17; Rejected: 11; Published: 27; Retracted: 0

2015 Q2: Articles Received: 28; Accepted: 14; Rejected: 9; Published: 17; Retracted: 0

2015 Q1: Articles Received: 32; Accepted: 16; Rejected: 9; Published: 12; Retracted: 0

2014: Articles Received: 121; Accepted: 80; Rejected: 40; Published: 85; Retracted: 0

2013: Articles Received: 116; Accepted: 73; Rejected: 32; Published: 51; Retracted: 0




e-Version First TM (Vol. 7, No. 1)
All Issues



e-Version FirstTM

e-Version First is a featured way of publishing articles in our journal. It allows PDF version of manuscripts that have been peer reviewed and accepted, to be hosted online prior to their inclusion in a final printed journal. Readers can freely access or cite the article.


Each paper published in International Journal of Financial Research is assigned with a DOI®number, which appears beneath the author's affiliation in the published paper. Click HERE to know what is DOI (Digital Object Identifier). And click HERE to retrieve Digital Object Identifiers (DOIs) for journal articles, books, and chapters.


Paper Selection and Publication Process

a). Upon receipt of paper submission, the Editorial Assistant sends an E-mail of confirmation to the corresponding author within 1-2 working days. If you fail to receive this confirmation, your submission/e-mail may be missed. Please contact the Editorial Assistant in time.

b). Peer review. We use double-blind system for peer-review; both reviewers and authors’ identities remain anonymous. The paper will be peer-reviewed by three experts; two external reviewers and one editor from the journal typically involve in reviewing a manuscript. The review process may take 2-3 weeks.

c). Notification of the result of review by E-mail.

d). The authors revise paper and pay publication fee (300USD).

e). After publication, the corresponding author will receive two hard copies free of charge.

f). E-journal in PDF is available on the journal’s webpage for download, free of charge.


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

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



IJFR is listed in acceptable Finance Journals by University of Texas at Tyler

We are glad to announce that International Journal of Financial Research has been listed as GOOD QUALITY JOURNAL in the acceptable list of Peer Reviewed Finance Journals by University of Texas at Tyler.  
Posted: 2015-10-26

Call for Papers and Recruitment of Reviewers


We are calling for submission of papers for the forthcoming issue. All papers should be written in professional English. The length of 3000-8000 words is preferred. All manuscripts should be prepared in MS-Word format, and submitted online. For any question you have, please contact the Editorial Assistant via:

We are also recruiting reviewers for the journal. If you are interested, you are welcome to join us. Please find the application form and details at:

Posted: 2015-03-13 More...

IJFR is listed in Econlit and JEL

We are pleased to announce that International Journal of Financial Research (IJFR) has been listed in Econlit and Journal of Economic Literature (JEL)The American Economic Association’s electronic bibliography, EconLit, indexes over 120 years of economics literature from around the world.  
Posted: 2012-12-11 More...
More Announcements...

Vol 7, No 1 (2016)

Table of Contents


Cross-cultural Differences in Interpreting IAS 37 Probability Phrases PDF
Ning Du, Kevin Stevens, John Ahern, Anton Shigaev p1
An Investigation of the Recent Linkages of Consumer Prices in Japan PDF
Chikashi Tsuji p9
Changes in the Number of Varieties, Consumption Home Bias and Long-Run Macroeconomic Fluctuations PDF
Chung-Fu Lai p18
Loan as a Durable Good and Bank Indirect-Tax Incidence PDF
Gerasimos T. Soldatos, Erotokritos Varelas p33
Risk Classification in Natural Catastrophe Insurance: The Case of Italy PDF
Donatella Porrini p39
An Assessment on Graham’s Approach for Stock Selection: The Case of Turkey PDF
Nuray Terzi p50
La Dolce Vita in Japan: The Effect of Bank Mergers on Corporate Governance PDF
Heather Montgomery, Yuki Takahashi p57
Effects of Financial Crisis on Capital Structure of Listed Firms in Vietnam PDF
Truong Hong Trinh, Nguyen Thao Phuong p66
An Empirical Investigation into the Applicability of Fama-French Three Factor Model in Explaining Portfolio Returns: Evidence from Non-Financial Firms on the Ghana Stock Exchange PDF
Prince Acheampong, Sydney Kwesi Swanzy p75
A Collective Consideration of the EU’s Capital Market Legislation PDF
John A. Consiglio p86
The Analysis of Bank Deposits through Spatial Modelling by Provinces PDF
Ozlem Deniz Basar, Elif Guneren Genc p91
Food Consumption Pattern in Eskisehir PDF
Amir Azam, Hakan Acaroglu p101
The Relationship between Total Production and Public Spending in Mexico: Keynes versus Wagner PDF
Isaac Sanchez-Juarez, Rosa M. Garcia Almada, Hector Barajas Bustillos p109
The Dynamics of Oil and Stock Prices Comovements PDF
Claire G. Gilmore, Ginette M. McManus, Rajneesh Sharma, Ahmet Tezel p121
The Effect of the Perception of Deposit Bank Rate, Quality of Service, and the Using of Banking Technology towards Rural Fellow’s Interest to Save Money in Bank Rakyat Indonesia Inc. Unit Wates – Blitar PDF
Ria Prasetyo, Dwi Wulandari, Imam Mukhlis p130
Large Shareholder’s Identity and Stock Price Synchronicity: Evidence from a MENA Market PDF
Adel Bino, Diana Abu-Ghunmi, Mohammad Tayeh, Dua’a Shubita p135
An Analysis on the Behaviour of Corporate Social Responsibility towards Profitability of Islamic Banks: Asean and Europe PDF
Akhmad Affandi Mahfudz, Muhammad Safizal Abdullah, Arman Hadi Abdul Manaf, Abdullah Osman p154
Is Capital Investment Indeed Not Affected by the Market Cost of Capital in the Regulated Energy and Utility Industry? A Reexamination of the Averch-Johnson Model PDF
Ken Hung, Hui Wen Cheng, Ching Wen Chi, Shih-shen Chen p167
A Robust Set of Indicators for the Financial Stress and Financial Stability: Taiwan’s Case Studies PDF
Chau-Jung Kuo, Yu-Wei Li, Li-Hua Lai p172
Effective Financial Management of Supply Chain through the Use of Emerging Technology PDF
Abdullah Mohammed Aldakhil p189
Opting for a Controlled-Firm Majority Independent Directors Exemption to NYSE or NASDAQ Listing Requirements: Much Ado about Nothing? PDF
Jeffery A. Born p195
Effects of Shadow Banking on Return — Empirical Study Based on Chinese Commercial Banks PDF
Jingyu Tang, Yanling Wang p207
Analysis of Regional Supporting Force for the Development of Industrial Area in Order to Improve Regional Income in East Java, Indonesia PDF
Sugeng Hadi Utomo p219

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International Journal of Financial Research
ISSN 1923-4023(Print) ISSN 1923-4031(Online)


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