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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2016 Q2: Articles Received: 30; Accepted: 17; Rejected: 9; Published: 24; Retracted: 0

2016 Q1: Articles Received: 47; Accepted: 24; Rejected: 17; Published: 27; Retracted: 0

2015: Articles Received: 124; Accepted: 64; Rejected: 40; Published: 77; 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. 4)
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 4 (2016)

Table of Contents


International Parity Relations and Economic Shock: Evidence from Swiss Franc Unpegging PDF
Hoje Jo, Julian Dixon, Toshi Masubuchi, Manali Parmar, Stuti Rastogi p1
Momentum for Independent versus Group Firms PDF
Hsiao-Peng Fu p14
Predicting the Volatility of the Russell 3000 Stock Index PDF
Bing Xiao p18
Faith Based Investing (FBI) Fund Performance: Luck or Skill? PDF
Praveen Das, S. P. Uma Rao p29
Impact of Foreign Direct Investment (FDI) on Economic Growth in WAEMU from 1990 to 2012 PDF
Galaye Ndiaye, Helian Xu p33
Financial Development and Poverty Reduction: Exploring the Links between the Issues Using Evidence from Bangladesh PDF
Joynal Abdin p44
Management Control and Takeover Premiums PDF
Trevor W. Chamberlain, Maxime Fabre p66
The Impact of Oil Price Shocks on the Economic Growth and Development of Cross River State, Nigeria PDF
Amenawo Ikpa Offiong, Ignatius Ahmed Atsu, Edward Ajaude, Bassey Ina Ibor p96
The Impact of Macroeconomic Factors on Credit Risk in Conventional Banks and Islamic Banks: Evidence from Indonesia PDF
Huey-Yeh Lin, Nuraeni Hadiati Farhani, Meihua Koo p105
The Use of Gulf Cooperation Council Currencies in Carry Trade: A Case Study of United Arab Emirates Dirham PDF
Musaed AlAli p117
Corporate Governance, Political Involvement, and Internationalization: An Empirical Investigation in Japan and Taiwan PDF
Li-Wen Chen, Hsin-Yi Yu p129
Accounting Conservatism Trends and Financial Distress: Considering the Endogeneity of the C-Score PDF
Hui-Sung Kao, Pei-Jhen Sie p149
The Role of Real Estate Derivatives in Hedging Real Estate: An Empirical Analysis of the U.S. Commercial Market PDF
Cem Berk p168
Don’t Put All of Your Alums in One Basket: College Admissions Decisions as a Portfolio Choice Problem PDF
Logan Dahl, Daniel K.N. Johnson p175
Financial Statement and Competitiveness Analysis: A Study on Tourism & Hospitality Industry in Bangladesh PDF
Tanvir Mohammad Hayder Arif, Kazi Noor-E- Jannat, S.M. Rakibul Anwar p180
An Examination of the Relationship of Corporate Governance to Firm Performance: Empirical Evidence from Vietnamese Listed Companies PDF
Nguyen Ngoc Dieu Le, Nguyen Ngoc Dieu Thi p190
The Effect of External Debt on Inflation Rate in Kenya, 1972-2012 PDF
Fredrick Tsofa Mweni, Amos Njuguna, Timothy Oketch p198
The Effect of Changing the Listing Level on the Information Environment of ADRs PDF
Candice L. Deal p208

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


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