Finance

This study examined the impact oil price volatility and selected macroeconomic indicators on stock return Nigeria for the period of 2000 to 2015 using Exponential Generalized Autoregressive conditional Heteroscedasticity (EGARCH) model for the volatility Error correction model for long and short dynamics. The results are in three folds: First, the results revealed that oil price volatility has a significant negative impact on stock returns in Nigeria. Second, the results also revealed that there were leverage and volatility persistence in the Nigeria Stock Market. Third, the study confirms co-movement between oil price shock and equity returns in Nigeria. The study therefore recommends that the government should monitor developments in the world crude oil market with a view to diversifying the economy away from crude oil dependence to minimize the consequences of oil shocks on the stock market and the economy at large.

The Indian IT companies have devised various innovative measures to face Global financial meltdown which has left its adverse impact on bottom-line of companies across the globe. Innovative strategies have helped IT majors to give improved results. IT sector has to use this downturn as an opportunity to learn, study the market carefully and design strategies accordingly. The IT players should look for servicing customers in new ways; offer them better solutions at affordable price. The paper looks into few critical areas of managerial concern such as Business Resource Planning, Towards Effective Pricing, Better customer Orientation in particular at the time of crisis, Enhancing average revenue per customer, Building long term relations with clients, Innovative initiative to engage bench employees, etc.

The term rabb as an attribute of God is repeated frequently in the Quran. It assumes a significant role in comprehension of other attributes of God as well as some Quranic teachings. Comprehension of this term requires methodological consideration of Quranic verses, traditions, and other evidence in a semantic framework. Accordingly, the only definition that can be presented for this term is malik mudabbir. Other definitions including murabbi (instructor/trainer/cultivator) are insufficient. In the definition, Malik may be rendered as Master/Owner/Lord meaning that He holds complete possession and absolute authority over all of creation. In addition, mudabbir (director/ordainer) is an attribute involving the absolute knowledge, wisdom, power, and mercy of God as well as other divine attributes. Thus, the term rabb comprehends various divine attributes and can have a wide range of implications. Polytheism in lordship (and following that, in divinity) emerges when an entity other than God is associated with some aspect of lordship (e.g. believing in a god that intercedes or forgives). If such beliefs did not exist, polytheism would never originate.

Cost of capital is considered as an essential factor in making decisions on investment ,capital budgeting, managing of working capital, establishment of optimal financial structure, helping with performance measurement and determination of the firm value through helping in discounting cash flows.the present research aims at Survey of relationship between systematic risk, earnings per share(EPS) and dividend per share(DPS) as a in depended variables and cost of capital as a depended variable in accepted companies in securities exchange of Tehran in period of 2005-2010. Total of accepted companies in the securities exchange of Tehran have been seen as a statistic society. In order to conducting this research, 114 companies, random and with stipulate dimities, selected as research samples. In this research for estimation cost of equity capital we were used of Gordon growth model. It also for examination hypotheses of research we were used of partial correlation coefficient, step wise regression’s and curve estimation regression test. The results indicate there were not significant relationship between systematic risk, earning per share and dividend per share with cost of capital in total time’s dominion of the study. the yearly results show, there were significant relationship between systematic risk and cost of capital in 2007 from nonlinear aspect, between earning per share and cost of capital in 2007&2009 from linear aspect and in 2005,2006&2010,from nonlinear aspect and between dividend per share and cost of capital in 2007,2008&2009 from linear and nonlinear aspects.

Organisations need to be prepared for the impact of downsizing, because of the effect of layoffs on the remaining employees. Because employee morale is so susceptible to restructuring, this is an important time to improve employee engagement levels and prevent further loss of the workforce. This research study seeks to highlight the importance of communication, trust, and support, during downsizing. The research method used a qualitative approach, which enabled the researcher to conduct face-to-face interviews with ten participants. The findings affirm the prevailing literature regarding the importance of appreciation, communication, fair compensation, training and development, and trust, as factors influencing employee engagement levels. The results revealed that insufficient communication was the primary cause of low employee morale during the downsizing process. Respondents also cited distrust of management and uncertainty of the company’s future as leading concerns brought about by the retrenchments. Management was recommended to increase managerial support, improve communication and transparency, and show more consideration towards staff as a means of rebuilding the trust that was lost during restructuring. Due to the sensitive nature of a retrenchment process and its impact on the remaining employees, great care should be taken when embarking on any restructuring in the future.

This paper is to examine the relationship between the KSE100 index and some of economic variables namely interest rate, inflation rate, CPI and foreign exchange rate. For analysis purpose secondary data were used for the period of 1991 to 2005. Multiple Regressions and Pearson,s correlation model were applied to the data to find the relationship between KSE100 index and macroeconomic variables. Model was good fit and was strong relationship between dependent and independent variables. The tests show that there is 83% variation in the stock prices by variation in independent variables. The results also suggest that the impact of independent variables is positive on KSE-100 index except interest rate.

The study looks into the fund mobilization role of cooperative thrift and credit societies in Nigeria .The cooperative thrift and credit society of Ajayi Crowther University Oyo State of Nigeria was used as a case study. Primary data were coalated from the workers of the university serving as the respondents through the questionnaire instrument. The responses were analysed with the use of simple percentages. Two hypotheses were also tested to confirm the analysis. It was discovered that every member of staff consulted belong to one or two cooperative societies due majorly to the easier access of getting loan from the societies than from the banks. The loans given by the societies were also derivable from the savings contributions from members. It can therefore be concluded that cooperative thrift and credit societies in Nigeria are good in mobilizing funds from the surplus unit (the savers) to the deficit unit (the borrowers), the activity that has led to economic development of the co-operators and their societies at large. It is therefore good for government to give more recognition to the societies and should be extending grants and loans to them to boost their activities. This would help in filling the financial gap which has been existing within the whole range of financial intermediation process in the country.

The word entrepreneur originates from the French word, entreprendre, which means "to undertake." In a business context, it means to start a business. The Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise. Many experts and researchers refer to today's world as the age of discontinuity. Age of discontinuity means that past experience and solutions to current and future problems are not entrepreneur anymore and should think for new organizational solutions with modern structure, so that could produce the goods and services with minimal cost and with superior quality tailored to customer needs and preferences as global markets be subdued and captured and in this great race to be victorious. Therefore in order to have successful economics there dire need to have prosperous enterprises in competitive environments. This requires powerful, self-reliance and empowered employees, the Personnel who possess the creative and entrepreneurial morale. As result entrepreneurship, creativity, innovation and risky businesses, provide fuel modern economy that means in any enterprise if in any organization, the entrepreneurial context of a ewe be provided employment will be created and itself will be factor of technology transformation. Entrepreneurs are a factor to identify, create and expand new markets they have the ability to see market gaps and to identify opportunities perfectly. In other words, entrepreneurship is nothing but the opportunity recognition and optimum use of it. Therefore we consider the entrepreneurship as suitable strategy for development and improvement of enterprises in this paper and we believe that entrepreneurship has important role in productivity enhancement and to ease their innovative activities in order to implement the organization's success.

This paper shows the empirical evidence about the outreach of Islamic Rural banks in the term of six aspects: depth, breadth, scope, worth, cost and length. This study reveals that the outreach of Islamic rural banks have already increased and better for four aspects: depth, breadth, scope and length. Furthermore, this study recommends several policies in terms of strengthening aspects of regulation, socialization, competitiveness and human resources aspect.

The health of the economy is closely related to the soundness of its banking system. The banking sector influences the economic growth and development in terms of both quality and quantity, there by changing the nature of economic growth. Assessment of the bank's performance in terms of earnings level may reveal more about government policy than about the bank's own efficiency. The indicators commonly used for assessing productivity of banks are Business per employee/Branch, advances per employee/Branch, number of accounts per employee/branch etc. the results obtained by different factors need not be the same and may often be contradictory. Employee productivity performance analysis is a popular technique for the appraisal of financial performance of a bank. It simply means the total resources invested and the profits generated on the investment per employee of the bank. For a bank, its employees are the most valuable corporate asset. Therefore, it is necessary to evaluate profitability of a bank in terms of its employee's productivity. The present paper therefore is an attempt to compares the parameters of employees’ productivity and parameters of branch productivity. This study investigated the effects of amalgamation on the financial performance of Regional Rural banks in India. The research compared the pre-merger and post merger financial performance of KVGB and PGB which were amalgamated during 2005. The results indicate that the productivity ratios that have marginally improved after the amalgamation.Both findings suggest ways in which the bank can increase the profitability of its branch network.