ABSTRACT There is overwhelming evidence in empirical literature that in the presence of market imperfections, investments of financially constraint firms become sensitive to the availability of internal finance. There are also contradictory evidences regarding the pattern of the observed investment cash flow sensitivity. However, most of the empirical work on the responsiveness of firms’ investment to cash flow was done using data from developed markets. This study examines not jus...
Introduction Roles of Government Objectives of tax system Principles of Tax system: - Factors that policy maker should consider to meet objectives of tax system: Problems faced by policy maker while designing tax system: - Conclusion References
Abstract: The motive of every firm is to maximize the wealth of owners by providing benefits to the society when society faces any trouble. There are lot of examples in the world that many firms share the loss of society when there is natural or any other disaster in that society. This study will examine the impact of CSR on Banks' financial performance. After analyzing the different studies in literatures, a sample size of 5 banks out of 15 being listed on the Nigerian Stock Exchange with th...
Abstract: This paper examined the effect of financial performance on corporate social responsibility of banks in Nigeria. After analyzing the different studies in the literature, a sample size of 7 banks out of 15 being listed on the Nigerian Stock Exchange with the total of 21 banks in Nigeria was used. The study employed ex-post-facto research design, using a data of 6 years period, ranging from (2010-2015). The study used Multiple Regression Model as the technique of analysis using STATA s...
ABSTRACT Remittances constitute a portion of international migrant workers earnings sent back from the country of employment to the country of origin.While the rates and levels of officially recorded remittances to developing countries has increased enormously over the last decade, academic and policy-oriented research has not come to a consensus over whether remittances contribute to longer-term growth (Nnaemeka, 2007).This study focuses on the role of remittances in the economic growth of N...
The development of the Integrated Financial Management Information system was a move by the Kenyan government in 1998 through the Ministry of National Treasury to implement Public Financial Management ( PFM) reforms. This system was to be later deployed in other ministries five years later in 2003. Just like any other system out there, the implementation of IFMIS was not without its challenges and thus prompting a re-engineering program in 2011 that was aimed at making the system reliable and...
ABSTRACT Access to financial services in a country is essential for economic growth. The term access to financial services refers to the ease with which an individual can use financial services if theywant to. It is thus distinct from usage; an individual may have access to financial services but choose not to use them. It is also possible for an individual to face access constraints even if they are using a financial service. For example, an individual may have a bank account, but may face c...
Abstract The paper examines the effect of natural resource rents and institutional quality on financial sector development in West Africa. Using pooled OLS, fixed effect and system generalized method of moments (GMM) estimations with several robustness checks, the results indicate that natural resource rents have an adverse effect on financial development. Further evidence shows that institutional indicators, based on control of corruption, rule of law and government effectiveness, positively...
Abstract In view of the indispensable role of financial sector in both emerging and developing economies, there has been a notable spotlight on the financial sector development over the years in most African countries. Nonetheless, there are only a few studies on this topical issue, particularly for Nigeria. Hence, this study examines the long – run and short – run dynamic relationship between institutional quality and financial development in Nigeria over the period of 1984 – 2015 usin...
This dissertation uses the event study methodology to examine the short-run cumulative abnormal returns to UK based mergers and acquisitions between the years 2008-2014. By examining this short-run cumulative abnormal returns, the response of the UK stock market to the announcement of mergers/acquisitions post-financial crisis was deduced. To measure the stock market response accurately, a random sample of 128 companies engaging in consolidation transactions between 2008-2014 is broken down i...
The study is focused in examining financial constraint and investment decision of firms in Nigeria. The study seeks to reveal various financial constraints that are having effect on firms’ investment decision. The data have been taken from the balance sheet of nine (9) manufacturing firms listed in the Nigerian Stock Exchange for the time period 2008 to 2012. Multiple regression analysis has been done to examine the relationship among firm’s size, dividend payout ratio, firm’s age, capi...
Finance investment is putting money into something with the expectation of gain. Investment in Stock market is very popular in Bangladesh. In 2010, so many people invested into the stock market and this investment made them millionaire. But in the fast quarter of 2011 stock market crashed. Millions of investors have been rendered bankrupt as a result of the market crash. Lack of analytical knowledge is one of the reasons behind this market crash. In share market to minimize the risk two types...
This research study analyzes the relationship between liquidity and profitability in a group of companies comprising the major sugar entities listed on the Karachi stock exchange now merged to Pakistan Stock exchange using five years data from 2010 to 2014 and to run definite tests linked to numerical investigations. The aim of this work is to verify the relationship between these two indicators using the financial data published by the companies and application of statistical procedures like...
INTRODUCTION: Recent dynamism in levels of competition and efficiency in the banking system can contribute to greater financial stability, product innovation, and access by households and firms to financial Services, which in turn can improve the prospects for economic growth in this respect, concerns are that state-dominated monopolistic, inefficient, and fragile banking systems in Kenya and many low-income countries, especially in sub-Saharan Africa majorly impact economic development. Pe...
INTRODUCTION Ratio has been most important tools for the effective development of manufacturing companies and industries, the major uses of ratio is to access the profitability, gearing, liquidity and asset turnover of the company. The introduction of ratio analysis in manufacturing company has brought about a turn around in many industry and companies. The important of ratio analysis in the running of any manufacturing cannot be over emphasizes, it is this significant role that led ...