Journals UITM University of Information Technology and Management
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COMPARATIVE ANALYSIS OF THE CONTRIBUTION TO THE UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS THROUGH NON-FINANCIAL INFORMATION DISCLOSED BY IBEX 35 COMPANIES
Get PDFThe purpose of this research is to examine the non-financial key performance indicators contemplated in Directive 2014/95/EU through the prism of the Sustainable Development Goals (SDGs). To do this, the presence of the indicators contemplated in the United Nations 2030 Agenda in the non-financial information disclosed by the groups of companies listed in the Spanish IBEX 35 index in the years 2017 and 2019 has been analyzed. The obtained results show an increase in the presence of SDGs in the non-financial reports of IBEX35 listed companies. Furthermore, the statistical analysis reveals that there are no significant differences in the number of SDGs incorporated as non-financial key performance indicators between the different business sectors. The methodology used in this research also constitutes a tool that can be used to learn about the implementation of social and environmental policies in other companies
THE IMPACT OF CAPITAL STRUCTURE ON BANK PERFORMANCE IN EMERGING MARKETS; EMPIRICAL EVIDENCE FROM GCC COUNTRIES
Get PDFThe current literature is equivocal and provides inconsistent evidence about the relationship between firms’ performance and capital structure choices. This study adds the empirical evidence on association between capital structure and bank performance to this inconclusive debate. It uses the data of commercial conventional banks listed on various stock exchanges of six Gulf Cooperation Countries (GCC) i.e. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The study uses unbalanced panel data of 50 banks operating in these countries during 2012 to 2017, having 299 bank year observations. ROA and ROE are used as performance variables, with total debt ratio as explanatory variables. Bank size, assets tangibility, earnings volatility, growth, GDP growth rate, and inflation rates are employed as control variables. Three regression techniques, pooled OLS, fixed effects and random effects estimations are used to explore the relationship. The results suggest leverage and the control variables have a substantial effect on the performance of banks but are distinctive in nature as per the banking industry compared to non-financial firms. 
FINANCIAL LITERACY AND NEW BUSINESS ENTRY
Get PDFThe issue of the relationship between financial literacy and entrepreneurship is still not a fully explored research area. On the one hand, there are common views that financial literacy and education in finance are necessary in every individual's life, and that an insufficient level of financial literacy may result in erroneous economic decisions. On the other hand, research on the impact of narrowly defined financial literacy on business start-up decisions is still rare. As a result, there are no clear indications regarding the need for education in the area of finance in order to stimulate entrepreneurial decisions, including the survival of launched economic undertakings. This article deals with the relationship between financial literacy and chosen entrepreneurial aspects such as 1) Phases of Entrepreneurial Activity; 2) Entrepreneurial potential; 3) Motivation; 4) Involvement in the technology sector; and 5) Business exit reasons. All of the above aspects are embedded in the context of financial literacy. The article sheds light on the relationship between financial literacy and entrepreneurship and creates a background for further attempts to deepen understanding of this issue
DO FISCAL TRANSFERS FOSTER REGIONAL ECONOMIC GROWTH?
No full textFiscal transfer development across the world today has been in part driven by assertions of a supposed ‘economic dividend’ linked with the devolved financial spending. There is, however, little empirical evidence to validate these assertions in Kenya. It is against this background that this study was carried out to estimate the end product of fiscal transfer on regional economic growth in Kenya using a secondary panel data set. Using the ARDL estimation technique the long -run and error correction estimates of the model were generated. The findings revealed that increased fiscal transfer in recurrent budgets accelerates regional growth, hence confirming the Keynesian hypothesis. Conversely, fiscal transfer in capital expenditure was insignificant. This study recommends the need for policymakers to put in place policies and strategies that will improve budget allocation and execution in capital budgets so as to improve physical infrastructure and thus boost private productivity and consequently regional income growth
COMPREHENSIVE ANALYSIS OF A COMPANY\'S ACTIVITY BY MEANS OF STATISTICAL MODELING AS SUPPORT FOR ITS DECISION-MAKING SYSTEM
No full textAn important role in ensuring effective forms of management and increasing competitiveness is played by the process of forecasting the activity of the enterprise. This work analyzed the performance of a food industry enterprise, for which a wide range of statistical methods were applied such as methods of cluster, correlational and regression analysis, statistical tests of Fisher, Student, Farrar-Glauber, Durbin-Watson, Goldfeld-Quandt, μ-criterion, multifactor regression, trend, auto-regression models, and models of seasonal fluctuations, which provided a view of the economic properties of the enterprise profit process, in particular the auto-regression component of revenue dependence on its value last year, seasonal quarterly dependence on sales and marketing costs, product price, etc. The detected patterns will allow us to take into account these features for forecasting future revenues and for adjusting the enterprise’s decision-making system taking into account seasonal features and results of the previous year
MEASURING THE IMPACT OF AN ADMINISTRATIVE FINE ON A COMPANY AND ITS FUTURE SURVIVAL: A CASE STUDY FROM THE CZECH REPUBLIC
Get PDFAn administrative fine is a monetary penalty that may be imposed by a supervisory authoritity as an administrative punishment. Such a fine adversely interferes in the cash flow generation of the company in question. The fine can be described as an investment carrying opportunity costs with no economic returns. However, according to the judgment of the Constitutional Court of the Czech Republic Pl. ÚS 3/02 of 13 August 2002 it is submitted that the fine cannot be imposed in such an amount that would ultimately be liquidating for the sanctioned entrepreneur. The assessment of whether the specific amount of the fine imposed represents such an intensive interference with the entrepreneur's property that his business activity becomes pointless (i.e., in the long run only for the payment of a fine) is elaborated in this article. Based on a case study from the Czech Republic, this article deals with an example of a suitable methodological procedure, on the basis of which it is possible to evaluate the impact of a specific amount of fine imposed on the property of a sanctioned entrepreneur and assess ex ante whether (i) continuity of his business will be interrupted in the future, i.e., when, as a result of the payment of the fine, he eventually goes bankrupt in the form of insolvency or over-indebtedness and / or (ii) his business activity will only serve to pay the fine and thus become "pointless". The presented economic narrative and methodology are relevant for policy makers and, particularly, for supervisory authorities imposing the fines or assessing the requests for remission
INDIVIDUAL PENSION PRODUCTS OFFERED BY BANKS IN POLAND – A MULTIDIMENSIONAL COMPARATIVE ANALYSIS
Get PDFThe supplementary old-age pension system in Poland consists of group and individual plans. This research covers the latter, namely the individual retirement accounts and individual retirement security accounts that were introduced in 2004 and 2012 respectively. The main aim of the paper is to conduct a multidimensional comparative analysis of bank retirement products including the linguistic complexity of documents creating the retirement contracts offered to individuals by banks, and the costliness and profitability of such products in the period 2012-2019. Moreover, it identifies the dependencies between the linguistic and economic traits of retirement contracts offered by banks. The correlation analysis conducted using the Spearman’s rank correlation coefficient showed that the more readable a document of a bank contract is, the higher the interest rate is and the higher the cancellation fees. The results of the study are relevant for both financial institutions and public bodies as they show the key characteristics that may influence the demand for individual retirement products in Poland and may serve as either a stimulator or a barrier in the development of supplementary old-age pension provision
EFFECT OF AUDITORS’ INDEPENDENCE ON FINANCIAL REPORTING QUALITY OF NIGERIAN DEPOSIT MONEY BANK
Get PDFThis study examined the effect of auditor independence on financial reporting quality of deposit money banks in Nigeria with Financial Reporting Quality as the dependent variable; Audit Fee, Audit Firm Size and Audit Meeting as independent variables, Debt Ratio as control variable. The sample period covered six (6) years (2013 to 2018) and data were extracted from the audited annual reports of ten (10) selected deposit money banks. The results of this study revealed that Audit Fee, Audit Meeting and Debt Ratio are positive but have insignificant impact on financial reporting quality; Audit Firm Size is negative and has insignificant impact on financial reporting quality. The study recommends orientation and reorientation of audit committee members to guarantee significant influences on financial reporting quality
DRIVING FACTORS OF GROWTH EVIDENCE IN THE FOOD AND TEXTILE SECTORS OF PAKISTAN
Get PDFThe aim of this research was determining the factors of growth in the textile and food sector of Pakistan. The research study analyzed data from the financial statements of textile and food sector companies of Pakistan for the period 2013-17. A fixed effect regression model was used for regression analysis after the conformation of (Hausman, 1970) specification test. The results of the study indicated that there was a significant and positive impact of profitability and negative impact of leverage on firm growth in textiles as well as the food sector of Pakistan. The results also indicated that firm growth was not significantly affected by innovation, liquidity or solvency. Growth of assets was used to measure firm growth. The findings of the study are applicable to textile as well as food sector companies in Pakistan. This research study suggested that management and policymakers in the textile as well as in the food sector of Pakistan should consider profitability as a driving factor for enhancing growth in both sectors. A small number of research studies could be found for the driving factors of growth especially in the textile as well as for the food sector of Pakistan. The present research study contributed to the existing literature by providing fresh evidence from Pakistan as a developing market. It allows the research community to explore the differences and similarities for the driving factors of growth in both sectors of Pakistan. 
IMPACT OF OIL PRICES ON STOCK MARKET DEVELOPMENT IN SELECTED OIL EXPORTING SUB-SAHARAN AFRICAN COUNTRIE
Get PDFThis study examines the dynamic impacts of oil prices on stock market development in four oil exporting sub-Saharan African countries in the period of 1989-2015. The Arbitrage Pricing Theory (APT) is used as the theoretical framework where stock market prices are hypothesized to be fully reflective of all available information. Static panel data (Pooled OLS, panel Fixed Effect Model, panel Random Effect Model) and dynamic panel model of Generalized Method of Moments (GMM) were employed in the estimation. The estimation of the static panel model shows that oil prices, exchange rates, gross domestic product, inflation and the corruption index have a positive and significant impact on stock market development. However, there is a slight improvement from the estimation of the GMM dynamic panel model which confirmed that oil prices, exchange rates, gross domestic product, investment, inflation and the corruption index have a positive and significant impact on stock market development. The study therefore recommends that investors in selected the SubSahara Africa (SSA) stock market need to be cognizant of the varying impacts of macroeconomic indicators, particularly those that have been found to exert strong influence on stock returns like oil prices, exchange rates, inflation and the corruption index.