Finance

Taxes as a reliable revenue source have always been taken in to consideration by governments. Tax imposition creates many disorders in economics but "green taxes" do not have such quality. Since the green tax is applied based on the cost and expense, they have a large scope and bring about good income for the government. Therefore, they can be replaced to other tax bases. On one hand, it reduces the effect of creating disorder by the other taxes; on the other hand, it increases the benefits of the society because of the reduction of the pollution. In this study, the effect of the green tax along with other influential variables on environment such as the index related to technology and GDP per capita, Population and degree of trade freedom on the amount of the pollutant, carbon dioxide and Nitrogen dioxide, sulfur dioxide and also the influence of these taxes on epi (Environmental Performace Index) was examined in 34 countries which were the members of OECD countries during the period (1995 to 2006) have been studied. The findings show that the imposition of such tax has caused the reduction of air pollution and the improvement of environment in the selected countries.

In the United States, many small business owners display inadequate preparedness strategies to mitigate natural disasters. The damage caused by natural disasters usually costs millions of dollars in injuries or lost lives, disruptions to operations, and property damage. Small business owners who fail to plan and prepare for disaster frequently face closure when disasters strike. The goal of this study was to explore strategies independent auto maintenance business owners use to mitigate natural disasters. Holling’s organizational resilience theory grounded this qualitative multiple case study. From the population, a purposive sample drawn, included five participants who implemented disaster mitigation strategies from Texas, Arkansas, and Louisiana and participated in this study. Semistructured interviews were used to collect data, which was analyzed by triangulating the results against company strategic plans, financial data, emails, website information, and operation manuals. The implementation in the data analysis of Yin’s 5-step data analysis process yielded important themes of: employee relations and financial strength, disaster planning and response guideline, communication, and collaboration and partnership. The analysis of the analysis led to the presentation of key recommendation for business owners, notably to comprehensively understand, plan, and execute successful natural disaster mitigation strategies, to ensure business continuity and resilience. The implication for positive social change is the potential for businesses to avoid permanent business closure, create jobs, retain employees, and improve the economic standard of living for communities.

This paper examines accounting and accountability issues relating to Australian rules country football clubs within the state of Victoria. Football clubs are part of the largely unaccountable not for profit (NFP) sector in Australia. As there has been a lack of research on country football clubs, this paper explores the myriad of financial information that is produced by both junior and senior clubs in the state of Victoria. The result of this survey has found consistency in the production of some accounting reports by club type, but also variability in regularity and usefulness.

Although Savings and credit cooperative societies (SACCO) are formed to promote thrift among members by affording them an opportunity to accumulate savings and deposits to provide credit at fair and reasonable rate of interest, they operate in an competitive environment characterized by banks, micro finance institutions, insurance companies, capital market and pension fund that offer similar or near equal financial services to the same clientele in Kenya. In today's highly dynamic and competitive business environment, firms are exposed to strict challenges with meeting the ever-increasing market and customer needs and expectations, coping with sophisticated requirements, and facing technological obsolescence. In order to achieve sustainable competitive advantage level that not only matches those of their business rivals? but that exceed the financial industry performance averages, financial institutions have to seek understanding of relative degree on the relationship between competitive strategies and sustainable competitive advantage. Competitive strategies adopted determine the consumer satisfaction that propels the SACCO to attain sustainable competitive advantage. The aim of the study was to establish the effects of competitive strategies on sustainable competitive advantage of SACCOS in Kenya. Specifically, the study was to examine the effect of focus strategy and identify the effect of innovation strategy on sustainable competitive advantage of SACCOs in Kenya with specific interest in Mombasa County. The literature reviewed in the study was the theory of Resource-Based View of the firm (RBV), Market-Based View (MBV) and the Game Theory. A descriptive survey research design was adopted with a survey involving 168 SACCOs according to the Kenya Union of Savings & Credit Co-operatives ltd.

This paper discusses the results of a study that was conducted to investigate the income smoothing behavior in differences industries. Eckel’s Income Smoothing Index (1981) is used to determine the presence of artificial income smoothing behavior. The descriptive statistics are used to develop a profile of the sampled companies. Then the univariate test is conducted to investigate any significant systematic differences between companies that smooth their reported income and companies that do not. Finally, this study use logistics regression to investigate the factors associated with income smoothing practices.Results shows that industrial and technology companies smooth income more than other types of industries. The findings also indicate that income smoothers tend to be large companies with high ownership control.

This study examines the impact of transparency of financial information on the value relevance of earnings in determining the company's market value. Sampling was undertaken and finally, during the period 2006 to 2013, 117 companies were selected. Then, the sample firms have been separated into two groups: firms with low transparency of financial information and firms with high transparency of financial information. Corporate separation criterion based on the transparency of financial information. was Points for the ranking system and information disclosure quality in Tehran Stock Exchange .The methodology of research is descriptive according to the type of data, a correlation analysis (spierman coefficient) and Multiple regression was used To test the hypothesis .Also we uses a number of control variables. These variables consist of Size, CF, E, and BV. based on the results of the test hypothesis, Using a modified Olson discretionary For calculated relevance of earnings it was found; Transparency of financial information is effective on the value relevance of earnings in determining the company's market value.

The main objective of the study is to examine the directional causality between spot and futures market in Indian scenario. For this purpose, the study has used pair wise Granger Causality test. The study has used daily prices series in both spot market and futures market for the 40 sample individual stocks drawn from six leading sectors namely Automobiles, Banking, Cement, Gas, Oil & Refineries, Information Technology and Pharmaceutical. The period of study is from 1st January 1997 to 31st May 2009. The study finds that with the exception of Tata Motors, all the remaining Automobile companies showed bi-directional causality between spot and futures prices. Seven (out of selected nine) Banks showed bi-directional causality between spot and futures prices. In the Gas, Oil & Refineries sector, BPCL, HPCL, IOC and Reliance Industries showed bi-directional causality between spot and futures prices. Out of the seven IT firms, four companies did not show any causality between spot and futures prices. All the six selected Pharmaceutical companies witnessed bi-directional causality between spot and futures prices.

Nepal is in continuous pressure for graduation from LDC by 2022. Despite planned development efforts, capital expenditure has been consistently below 30 percent of the GDP threshold, resulting into slow structural transformation, low private investment and growth. Lack of project readiness due to governance factor has been considered as major constraint of economic development. The main objective of the study is to analyze the possibilities of introducing the foreign employment bond as an instrument for financing the fiscal deficits and sustainable economic development. The increasing trend of remittance income and its already visible micro and macro impact has raised the possibilities to channelize remittances as an important instrument for national development.

Access to financial markets and how the market's way of financing is, is one of the most important factors that Specifies how Access Company to cash and level of it. Countries where the financial sector depth is less, It does not allocate resources efficiently between the needs and Sometimes in these countries are faced with the problem of unavailability of appropriate financial instruments thus in which case they shall not gather enough resources. This study examines the relationship between trade credit payable and receivable with cash holding In view of the financial depth. The population of the study includes all Tehran Stock Exchange member firms after certain conditions are imposed. sampling was undertaken and Finally, during the period 2006 to 2013,127 companies were selected.The methodology of research is descripitive. Evaluate the research hypotheses through regression analysis with the use of synthetic data has been carried out. Also we use a number of control variables. These variables consist of Size, Liquid, Leverage, Debt, M/B, Cash flow. The results show no relationship between trade credit payable and receivable with cash holding in view of the financial depth. Also test the hypotheses in a single regression model did not change the results.

Banks in advanced economies continue to be weighed down by slow credit growth, funding risks, reliance on government and central bank support, contagion impact fromthe concerns about sovereign debt sustainability, etc. In contrast, the Indian financial system which is largely dominated by the banking sector remains well capitalized. Asset quality remained robust though some concerns emanated from the fact that slippages exceeded the rate of growth of advances, and resulted in increased requirements for provisions. The present paper aims to analyse the stability of Indian banking sector as compared to world scenario in terms of Capital to risk weighted assets ratio, Overall Asset Quality and Interest rate sensitivity. The paper based on RBI Financial Stability Report 2010 also analysis the stability of Indian banking in terms of bank Stability Index.