International Journal of Commerce and Finance (IJCF - İstanbul Commerce University)
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Operating Leverage and Firm Value of Manufacturing Firms in Nigeria
Get PDFThe study examined the impact of Operating leverage on firm value of quoted manufacturing firms in Nigeria. The study selected twenty-two (22) listed (Consumer goods sector) manufacturing firms listed on Nigeria Stock Exchange from 2013-2019.The data used for this study are panel data. The result of this study revealed that DVAS (Variability in sales) has negative insignificant effect on firm value at (β=-1.04, P>0.05). DVPBIT (Variability in profit before interest and tax) has positive insignificant effect on firm value at (β=12.6, P>0.05). OPLE (Operating leverage in asset) has negative significant effect on firm value at (β=-18.95, P<0.05). Based on the findings of the study, it were therefore recommended that; firms would benefit from the quick variability in fixed asset to current asset. (Changes in fixed cost into variable cost influences sales and long-run profit).
Assessing Internal Audit Practice: A Case of Selectedbureaus in Snnprs
Get PDFInternal audit plays a significant role in safeguarding and effective utilization of public resources. This study was conducted to assess the practice of internal audit: A case study of selected bureaus in SNNPRS. The researcher employed descriptive research design. Both simple random and purposive sampling techniques were employed by researcher in order to select 195 professionals in the bureaus. The data collected via structured questionnaire has been analyzed by statistical software, SPSS version 21.0. Accordingly, the result of descriptive statistics showed that, independence and objectivity and quality of internal audit has positive contribution to internal audit practice. The study also found that the major challenges of internal audit in regional sector bureaus are lack of training, sufficient audit facilities, management support, competent audit staff, adequate man power and presence of interference by the higher officials. Based on the findings of the study, the researcher forwarded possible recommendations for bureaus to work on identified results due to fact that they can be taken in to considerations have positive influence in improving internal audit practice of bureaus.
Human Capital Development and Service Delivery of Public Health Facilities
Get PDFHealthcare provision stipulated by Sustainable Development Goals (SDGs) is a relatively new concept in many developing countries Sub-Saharan Africa part of Asia. Therefore, this study examined the influence of human capital development on the service delivery of devolved County Health Facilities. The path coefficients were positive and significant at 0.05 level of significance. The path coefficient beta value was β = 0.50. These findings indicate that for every 1-unit increase in human capital development, service delivery is predicted to increase by 0.5 in public county health facilities in Kenya. The study concluded that measures contributed to the positive relationship between human capital development and service delivery in these facilities. As the hospitals lacked funding of further training for their staff and also failed to pay competitive salaries and allowances, the study recommends that for improved service delivery within these facilities, promotions should be on performance, as well remuneration. Most employees will work hard when they know that they get rewards for it. The hospitals should also promote staff and offer scholarships for training to the high performing staff
Optimal Portfolio Construction using Sharpe’s Single-Index Model: Evidence from Chittagong Stock Exchange
Get PDFThe study aims to apply Sharpe’s single-index model of portfolio construction and evaluate the model’s performance on the securities traded on Chittagong Stock Exchange (CSE). For this purpose, the last seven years' daily closing price data of 122 sample securities as well as the daily closing index value of the benchmark market index, CASPI, has been utilized. Sharpe’s model smoothens the intricate process of portfolio construction by suggesting a unique number, called the cutoff rate, to measure the desirability of each security’s inclusion in the final portfolio. In this study, 38 securities qualified to be a part of the final portfolio, hence, the optimal investment weight for each of them is calculated. An industry-wise analysis reveals that four industries account for about 68 percent of the final portfolio weight. The constructed portfolio yields a daily mean return of 0.1095 percent, which is equivalent to about 49 percent in effective annual terms. The overall portfolio risk, indicated by standard deviation, is found to be only 0.6425 percent. The portfolio beta of 0.3496 also indicates that there is significant nonexistence of systematic risk. An evaluation of the portfolio parameters explicitly reveals that it has outperformed every sample security as well as the market index, in offering the best risk-return combinations, by a large margin. Therefore, the study found Sharpe’s model of portfolio construction highly effective in optimizing risk and return in the context of CSE
Digital Transformation in Financial Field
Get PDFIn this study, digital transformation applications in the business world and in finance field are discussed in detail. The current and potential effects of digitalization on a wide spectrum from operational finance to portfolio management are examined. Advantages and disadvantages of digital transformation have been examined in detail and a general evaluation has been made about the ongoing process. One of the most important milestones of digitalization in the financial world is cryptocurrency. It is totally based on blockchain technology that eliminates public authority intervention and intermediaries by establishing peer to peer (P2P) transactions via the decentralized platform. In particular, the possible effects of increasing digitalization efforts on the financial environment after Covid-19 are interpreted
Motives of Foreign Direct Investment (FDI) in Ethiopia: An Empirical Analysis
Get PDFThe central aim of this paper is to investigate the major motives of inward FDI to Ethiopia from 1992-2015. Various economic and financial variables were taken into consideration to assess the relationship between FDI and its motivational factors. Ordinary Least Square method was applied to estimate the association, while Johansen’s co-integration test was employed to examine the combination, and Vector Auto-regressive (VAR) model was used to check whether there is a long run relationship between FDI and explanatory variables. The statistical results show that there is positive and significant relationship between FDI and market size, trade openness, exchange rate and financial freedom whereas inflation had negative and significant association with FDI. However, investment freedom and economic globalization indicated an insignificant relation. Even though all variables jointly affect FDI in the long run, the VAR result didn’t reveal any long term relationship between FDI and its motivational factors individuall
Effect of Employee Motivation on Job Performance: In Case of Fiche General Hospital
Get PDFMotivation is significant issues affecting human behavior and it is not only affecting other cognitive factor like perception and learning but also affects total performance of an individual in organization setting. Hence this study was focused on investigate the effect of employee motivation on their job performance in Fiche General hospital. It also intended to evaluate employee level of motivational and their level of job performance. In order to meet this objective, the researcher has used simple random sampling techniques; in collected from 179 employees out of 287, using Likert scale questionnaires. Data was analyzed using descriptive statistics (mean, and standard deviation) and inferential statistics (correlation and regression). The result of the descriptive statistics finding indicated that the employee job performance has been under practiced in Fiche General Hospital. The results of inferential statistics have revealed that all motivational factors under study are positively related to employee job performance. According to this finding the employee empowerment practices is more significantly associated and has impacts on employee job performance than all motivational factors under study. Hence, managers of Fiche General Hospital as advised to more empower their employee in the work place as motivational tool in order to enhance their job performance.Keywords: Empowerment, Job performance, Motivation, Fiche General Hospita
Financial Literacy and its Determinants among Households in Jimma Zone
Get PDFFinancial literacy become a topical issue in academics and policy circles, both in developed and developing countries, for the fact that low level of financial literacy prevailing across the world. The objective of the study calls for a quantitative research design and particularly a cross sectional survey research approach. The research focused on the urban area of Jimma Zone because of the fact that required financial literacy and financial behavior of rural and urban household operating at various level of financial decision making scenario is better to be studied separately since the main purpose is to provide input for designing a targeted financial literacy education. Generally, female encountered different problem in the society and did not aware about the financial services and products delivered by the financial institution. Therefore, female level of financial literacy is low compared to their male counter.The study indicated that literacy in general and household literacy in particular has a very close relationship to acquire financial literacy and financial knowledge. In general, as the academic level of household increase, their saving behavior showed improvement.Government has to take the major role in installing the saving culture through financial literacy and financial inclusion. In addition the government stabilization of inflation, implementing forced saving, modernization and accessible the saving institution, stabilization of the income level of household and reviewing the saving interest rate is vital to see adult financially literate and economically able in the near future
Quality of E-Tax System and its Effect on Tax Compliance (Evidence from Large Taxpayers in Tanzania)
Get PDF Abstract Globally, countries endeavor toward improving tax compliance behavior with the ultimate goal of increasing tax revenue collection. This study examined the quality of the e-tax system and its effect on the tax compliance behavior of large taxpayers in Tanzania. The data were gathered from 313 large taxpayers from three regions in Tanzania, namely Dar es Salaam, Mwanza, and Arusha. The study employed Information System Success Model (The IS model) with constructs service quality, system quality, information quality, user satisfaction, behavioral intention, and tax compliance behavior (actual behavior). A Partial Least Square Structural Equation Modeling (PLS-SEM) with SmartPLS3 was used to evaluate the latent variables and their indicators. The results showed that behavioral intention to use the e-tax system has the strongest effect on tax compliance behavior. Thus, service and information quality had an incredible effect on creating eagerness to accept and utilize the e-tax system which improves tax compliance behavior. However system quality has not shown a significant effect on tax compliance behavio
Performance Improvement of Non-Governmental Organisations through Financial Management. A Case Study of Young Men's Christian Association of Ghana
Get PDFNon-governmental organizations (NGOs) in Ghana have a history of being short-lived. However, Young Men's Christian Association (YMCA) Ghana, on the other hand has achieved notable success by impacting millions of lives over 50 years of working in Ghana. Apparently, this research investigates into the key financial management practices of NGOs in Ghana using the case of YMCA Ghana. The study revealed that, the quality of Financial Management staff and their responsibility is the most effective financial management indicator in YMCA Ghana amongst all the other well-functioning indicators. Nevertheless, it is evident in the study that the challenge YMCA Ghana faces in its financial management practice is irregular external audit review of financial and accounting information. Therefore, it is recommended that frequent subscription for external audit services should be established in NGOs and also, cost effective monitoring, evaluation, accountability and learning (MEAL) programme management framework should be adopted by NGOs in Ghana