Annals of Spiru Haret University
Not a member yet
622 research outputs found
Sort by
Budgetary Participation and Managerial Performance in Public Sector Organisations: A Study from Nigeria
Get PDFThis study investigated the impact of budgetary participation on managerial performance in public-sector organisations in Nigeria. Questionnaire was used to obtain the opinion of 174 managers (unit and departmental heads) in five public-sector organisations located in Abuja, Nigeria Federal Capital. Results from statistical analysis (descriptive, factor analysis, Kruskal-Wallis tests, correlation and regression) show that there is high level of budgetary participation by managers in public-sector organisations in Nigeria. Although budgetary participation was observed to positively and significantly impact on managerial functions such as planning, investigating, co-ordinating, supervising, evaluating, and staffing, it exerts the most on planning. The impact of budgetary participation on managerial performance appears to be moderate. Whilst it is desirable for public-sector organisations to adopt sophisticated budgeting techniques, the study advocates for employees’ motivation and deeper involvement in budget matters as a way out of the traditional budgeting quagmire that public-sector organisations are characteristically bedevilled with
EFFECT OF INTERNATIONAL FINANCIAL REPORTING STANDARD ON CORPORATE PERFORMANCE OF SELECTED BANKS LISTED ON NIGERIA STOCK EXCHANGE
Get PDFIn the light of globalisation where foreign investment has become trendy, comparability of financial reports of Nigerian firms and those of other firms across the world has become a concern. Nigerian firms has been mandated to adopt the International Financial Reporting Standard (IFRS) is their financial reporting. This study has examined the effect of the IFRS adoption on the reported performance of Nigerian banks listed on the Nigerian Stock Exchange. Eight (8) out of the fourteen (14) quoted banks were selected for the study. Four indices of performance employed in the study are profitability using the Return on Equity, Liquidity using total deposit to total loan, loan grants and then market value measured by Price earnings ratio for the period (2011 and 2012). 2011 represented GAAP era while 2012 stands for IFRS adoption. A comparability index for the banks were computed using the Excel Spreadsheet for each of the banks on each variable. Then the One Sample Test was employed for the analyses. The mean was used to answer the research question while the t-statistics tested the hypotheses. The results showed that mean values for profitability, liquidity and market value are greater in the GAAP era (2011) than in the IFRS period (2012), while loan grant has higher for IFRS period (2012). The t-tested indicated none of the variables had significant effect. Thus the study concluded that IFRS adopted does not have significant effect on bank performance reported in 2011 and 2012. The use of IFRS for all firms as well as incorporation of IFRS guideline in professional training are recommended by this study
Foreword
Get PDFA globally warning issued in September 2018 by the former president of the European Central Bank, Frenchman Jean-Claude Trichet says the world economy is exactly the way ahead of the economic crisis of 2008. He said that too many debts have done the global financial system as vulnerable as it was ten years ago in September 2008, when the American bank Lehman Brothers collapsed. Excessive indebtedness in advanced economies was a key factor in triggering the global financial crisis of 2007 and 2008, Jean-Claude Trichet said in an interview with AFP.Currently, debt growth in advanced countries, particularly in the private sector, has slowed, but this slowdown has been offset by an acceleration in emerging-nation debt growth. This makes the entire world financial system at least the same vulnerable as it was in 2008.....
A COMPARISON AND INTEGRATION BETWEEN PRIVATE AND PUBLIC SECTOR THROUGH SUSTAINABLE ECONOMICAL DEVELOPMENT OF THE ROMANIAN RURAL AREAS USING BEE ALGORITHM
Get PDFThe article is focused on presenting a comparison of the public sector with public administration policies and private sector with economical strategies with the purpose of better integration between the two with case study on the European funds in beekeeping and how by studying the bee behavior we too can develop our society to achieve better results. The scope of the article is to show an overview of the European policies into state members with focus on sustainable economic development of Romanian rural areas. This is part of the authors’ research from the last 10 years with focus on public, economic and social development and represent initial results of their yet not published work
Foreword
Get PDFAccording to the OECD Economic Outlook from the 21st of November 2018, the global expansion has peaked. Global GDP growth is projected to ease gradually from 3.7% in 2018, to around 3½ per cent in 2019 and 2020, broadly in line with underlying global potential output growth. In the near term, policy support and strong job growth continue to underpin domestic demand. However, macro-economic policies are projected to become less accommodative over time, and headwinds from trade tensions, tighter financial conditions and higher oil prices are set to continue.....
FOREWORD
Get PDFAn escalation of protectionist measures in the middle of 2018 could spark a fresh downturn just as the global economy is picking itself up after the last one, the international body that represents the world’s central banks has warned. The Bank for International Settlements (BIS) said there were already signs that “the ratcheting up of rhetoric” was weighing on investment. It comes as USA president steps up hostility with some of the US’s key trading partners and allies, raising fears of a full-blown trade war
Implementation of corporate governance mechanisms in tourism
Get PDFThe article is devoted to forming of effective mechanisms that regulate economic activity of subjects. The economic state affects activity of companies, especially in tourism. The aim of this paper is to show that how implementation of corporate governance mechanisms provides greater transparency in the tourism sector, as well as a higher level of alignment of the domestic regulatory framework with the principles applied in the developed economies in this industry. Different internal and external factors affecting the steady development and development of companies. Currency parity and increase of bank interest rates and their influence on a tourist stream. Forming of steady mechanisms by means of implementation of elements and principles of corporate management. Possibilities of adaptation and implementation of mechanisms of corporate management
THE IMPACT OF DEFLATION ON FISCAL AGGREGATES
Get PDFThis article addresses the phenomenon of deflation from a historical perspective, a phenomenon rarely encountered in our day. Deflation is generally defined as the fall in the aggregate level of the consumer price index, respectively, the reverse inflationary phenomenon. The article also presents, in addition to experiences in different countries in times when deflation has been more pronounced and longer, and the effects it may have on public finance aggregates. The paper analyses the literature of all time that deals with the subject, as well as a presentation of the empirical data recorded, and an econometric analysis wishing to highlight the impact that the aggregate index of prices may have on public debt, using data recorded in Romania during 2000-2017
ANALYSIS OF THE DETERMINANTS OF DIVIDEND PAYOUT OF CONSUMER GOODS FIRMS IN NIGERIA
No full textThe study examines determinants of dividend payout of consumer goods firms listed on the Nigerian Stock Exchange. The Nigerian Stock Exchange has 28 listed consumer goods firms. Purposive sampling technique was used and a sample of 9 consumer goods firms for duration of ten years from 2006 to 2015 was selected. Secondary data was collected from audited financial statements of the companies from the websites of the selected firms. Dividend payout ratio was the dependent variable while independent variables were market value, profitability, financial leverage, firm size and previous year dividend payout. Descriptive statistics and multiple regressions were used. Results showed that firm market value has significant positive effect on dividend payout; firm profitability has positive but insignificant effect on dividend payout; firm leverage has negative and insignificant effect on dividend payout; firm size has negative and insignificant effect on dividend payout; and previous year’s dividend has significant positive effect on dividend payout. The study thus concluded that market value and previous year’s dividend are the major determinants of dividend payout in consumer goods sector in Nigeria.
HUMAN RIGHTS RELATED TO THE RIGHT TO RELIGION AND ECONOMY IN THE CONFLUENCE OF CULTURES
Get PDFThe paper is focused on the authors’ opinion, based on deep research, that religion and education go side by side and could help a lot and should be the basic law for the development, rural or urban, against the background of the nowadays European challenges. Europe confronts today with oncoming waves of immigrants from all over the world who have been invading it for several years, bringing with them cultures, customs, observances, different in many ways from ours. Under these circumstances, the authors would like to highlight their point of view, mainly the idea that the words of Martin Luther King Jr.: “Hate paralyzes life; love releases it. Hate confuses life; love harmonizes it”, are much more true than ever. To keep an open mind on religious education, to be flexible, loving and understanding should be of vital importance in developing rural communities against the background of the European competitiveness