Finance

The aim of this study is to show the relationship between foreign investment and economic growth. Framework is used to show impact over the period of 1986 to 2013 .The result of these tables show that there is positive relationship between foreign investment and economic growth. We also examines that there is lack of sources in Pakistan .We have used secondary data for this study .This study will reveal that foreign investment is playing important role to fulfils requirement of sources .On the other hand, foreign investment has important role for the development of Pakistan economy. Most importantly, the Pakistan has chosen investor friendly policy. Foreign investment has two types 1) mixture of green field investment and 2)privatization proceeds .We propose a mechanism that foreign investment determine the political risk. Foreign investment also play important role to maintain a BOP of host country .In this study also show that which policies is important for the development of country 1) reduce political risk 2) foreign investment .This study also shows that Sri Lanka has rate of foreign investment is low then other Asian countries .Market access and modern technology is a main components of foreign investment .However, productivity can be improve by foreign investment (1997) the ratio of foreign investment in Pakistan is 0.2%.The main reason of poor performance in Pakistan is that basically Pakistan is a agriculture country and we have poor industries skills .For the development of country there is need to investment 35% to 40% in a year .In this study also shows that terries has negative effect on foreign investment of Pakistan .State bank of Pakistan regulates foreign investment inside and outside the Pakistan. Economy of every country depends upon circle of a foreign investment .For a strong country there is need of a strong economy .In this study we also examine that foreign investment growth rate is increasing then international trade. For the development of economic growth there is needed to invest 35 to 40% in GDP. Foreign investment has different shapes like.1) foreign loans 2) foreign direct investment3) portfolio. In the last year the exports of Pakistan is 12.9billion and import was 18.7billion. Japan has a vast export market for Pakistan. Economic development can be increase with foreign trade e .g raw cotton clothes and wheat is the main products of Pakistan.

Small Scale Enterprises have been recognized to be the main engine of economic growth and a major factor in promoting private sector development and partnership in the developing economies of the world. The enterprises in this category have not only brought about substantial local capital formation, it has really increased the level of productivity and capabilities of the dwellers of the rural commodities thereby redistributing the nations income and curbing rural-urban drift of citizens. However, despite the benefit accruable from the development of Small Scale Industries (SSI), little attention has been paid to its improvement by various tiers of government because of the distance between the government and the local dwellers. Also, lack of infrastructural facilities like power supply, provision of water, accessible roads to link the rural communities to the commercial centers, and non – availability of formal financial institutions have negatively affected the optimum performance of the various Small Scale Enterprises in Nigeria. Therefore the thrust of this paper is to assess how far the Small Scale Industries have been thriving in the face of various problems ranging from infrastructural to financial, confronting the entrepreneurs in the local communities and the effects of such constraints and problems on their business and how the problems can be ameliorated in order to improve the welfare and enhance the social economic development of the citizens at the grassroots. The population for the study comprises the small scale entrepreneur in Osun State of Nigeria. The sample consists of Iwo Local Government Area and Ola Oluwa Local Government Area. The two local councils are predominantly of villages and towns which can be regarded as real grass root communities and the major enterprises being practiced is the small scale type. Out of this population, 200 respondents randomly chosen were served questionnaires, in which 153 respondents returned their questionnaire filled. The researcher also made use of oral interview with the officials of the Ministry of Commerce and Industry in Iwo Zonal office serving the two local councils as well as using some relevant data from the internal Revenue Board of Osun State. For the analysis of the data, simple percentages were used to classify the responses of the respondents and Chi-square (x2) was used to test the various hypotheses proposed. The findings of the study indicate that Small Scale business entrepreneurs have no access to funds from the formal financial institutions (Banks) due to non-availability of banks in these rural areas and where there are few of the banks, the formality of processing loans and the interest on such loans have been very discouraging. Due to this, majority of the respondents make use of non-bank financial institution like thrift and cooperative societies, and also get financial assistance through Revolving Loan Scheme (ESUSU) and Daily Contributions Arrangement (AJO). However, in spite of all these challenges, it was found out by the researcher that investing in small scale business in these areas has great prospect and thus profitable to the owners. Small scale businesses have really served as a very charitable linkage between the source of raw materials and the usage of such materials by the large scale counterparts in the state. Also, of small scale business have thrived greatly by helping the rural dwellers to have access to the finished products of large corporations through buying and selling.

Environment is a very wide term which includes everything in all its manifest forms, on the earth, beneath the earth and above the earth. The natural resources of a nation affect the business activity of every enterprise. Similarly, the functioning of an enterprise has some favorable and some adverse effects on the environment. Hence, there is a need for maintaining accounts of the effects of the activities of a business entity on the environment and on natural resources. Environmental accounting is a faithful attempt to identify and bring to light the resources exhausted and cost rendered reciprocally to the environment by a business corporation. It is henceforth concerned with recording environmental elements. Environmental accounting is still at an early stage of evolution and it is being groomed under the voluntary leadership of a variety of enterprises around the world. During the period of 1981-1990, the emphasis in the accounting literature shifted from ‘social responsibility accounting’ to ‘environmental accounting’, reflecting the strong interest in the latter. From 1990-todate, the emphasis on environmental accounting continues unabated and engages the interest of both academic and practicing accountants, hence accounting and disclosure of environmental matters have been rapidly emerging as an important dimension of corporate reporting. This paper describes the evolution, nature, significance, areas and methodology of environmental accounting and also examines general issues concerned with it. This paper throws light on how corporate are responding to pressures to keep accounting records of the impact that their productive process have on the environment.

This paper examined the impact of non-performing loans on the profitability of the banking industry of Pakistan. We have taken the Return on Assets (ROA), Return on Equity (ROE) as Total Assets (TA) as profitability measure for the time span of 1998-2010. We have taken the data of Non-Performing Loans from the central bank of Pakistan. By applying the regression analysis, we have concluded that Non-Performing Loans have significant negative impact on the profitability and growth of the Banking sector of Pakistan.

After more than a decade of derivatives trading in Indian bourses, our markets have experienced a sea change in activity, behavior and trade in different instruments and products available. Here in this paper, we have examined and compared which market among cash and futures reacts to the flow of information faster and hence leads the other. A cross correlation test followed by Granger casualty, VAR and GARCH models establish relationship between returns and volatilities being experienced by some of the blue chip sensex stocks in two different markets. Our results suggest that there exists a strong bi-directional and contemporaneous relationship among the returns in the spot and futures market. The results for few stocks indicate lagged futures return coefficient is significant which means futures play a leading role in explaining the movement in the spot market. Also for some other stocks, exact reverse situation is observed showing significant leading futures return coefficient which means spot market returns lead the other. As far as interdependence among stock return volatility is concerned, it has been found that for more number of stocks, volatility spillover from futures to spot market is significant. This implies that stock futures market play a leading role both in terms of return and volatility thereby contributing in price discovery process.

This research work is started to know the investors awareness towards commodity market. The study is made to find out the investors knowledge towards commodity market. The investors are provided detailed questionnaire to collect data, the data has been stored in an effective way to generate meaningful interpretation and findings. There are plenty of investment opportunities available to every investor in Erode district. In this study the researcher has used descriptive research design. The selection of sample is done in the commodity market offices, stock exchange terminals and banks which are giving investment advice to their clients. Some brokerage offices, insurance selling investment offices are the target group to select sample. Some investors are preferred to invest in equity shares, mutual funds, insurance schemes, real estate and derivative securities like currency futures, stock futures, index futures and commodity futures. Hence this study is started to test the investor’s awareness towards commodity market. Commodity trade ensures superior returns to the investors.

This study examines the impact of monetary policy on exchange rate movement in Nigeria over the period of 1981 to 2015. The data for the research was taken from Central Bank of Nigeria (CBN). Based on empirical analysis and econometrics technique, cointegration method was adopted to measure the long run relationship between exchange rate and the Monetary policy instrument such as money supply, Monetary policy rate, Treasury bill and Cash reserve ratio and the direction of causality between the variables using VECM Granger causality framework plus variance decomposition and impulse response for robust analysis. The result from Johansen’s estimation revealed that broad money supply, monetary policy rate and cash reserve ratio contributed positively and significant impact on exchange rate movement in Nigeria while 3-month Treasury bill has a negative but significant impact on the exchange rate movement. There is unidirectional relationship between broad money supply and exchange rate at 5% level of significance. There is no clear causal link between monetary policy rate and exchange rate movement in Nigeria. However, variance decomposition revealed that monetary policy rate contributed 0.3351% and 3.1298% in the short and long run. Treasury bill is negative and statistically significant which means that, a 1% increase will lead to 3.24% decrease (change) on exchange rate movement. Lastly, cash reserve requirement is positive and statistically significant. These results could be a guide to policy makers in analysing monetary policy instrument towards maintaining the strength of the naira. Government should pursue strategies that are designed to neutralize the effects of such practices as round tripping, over-invoicing and under-invoicing which have characterized the activities of the banking sectors in the recent years. Lastly, foreign exchange control policies should be adopted in order to help in determination of appropriate exchange rate value. This will go a long way of strength the naira

Whether the level of deployment of information technology solutions actually enhances bank performance is still a matter of debate in academic circles. This paper set out to assess the effect of deployment of information technology solutions on the performances of deposit money banks in Nigeria. Data spanning over a seven year period (2005 to 2011) were generated from annual financial reports of sampled banks to ascertain the relationship between bank deployment of IT solutions and enhanced bank performance using a regression equation expressed in a multiple form. Findings revealed that deployment of IT solutions have been on the increase especially in the post-consolidation period as evidenced by increased number of bank branches and ATM which were interlinked via IT solutions. The correlation matrixes revealed that information technology solutions deployment have a positive relationship with increased bank profitability thus suggesting that increased banks investment in IT solutions enhances bank performance.

The managers use management accounting information and techniques to take decisions. The decision making process of most of managers consists of economical decision making and choosing the best alternative that lead to profit maximization as well as cost and expense minimization. Management accounting measures and produces economical information which is useful to users for conscious decision making. Management accounting writers tend to present management accounting as a loosely connected set of decision-making tools. Although the various textbooks on management accounting make no attempt to develop an integrated theory, there is a high degree of consistency and standardization in methodology of presentation. In this chapter, the concepts and assumptions which form the basis of management Accounting will be formulated in a comprehensive management accounting decision Model. The formulation of theory in terms of conceptual models is a common practice. Virtually all textbooks in business administration use some type of conceptual Framework or model to integrate the fundamentals being presented. In economic theory, there are conceptual models of the firm, markets, and the economy. In Management courses, there are models of organizational structure and managerial Functions. In marketing, there are models of marketing decision-making and channels of distribution. Even in financial accounting, models of financial statements are used As a framework for teaching the fundamentals of basic financial accounting. The tactical decisions which must be preceded by strategic decisions provide the Historical data from which the accountant prepares financial statements. In addition To being statements summarizing historical transactions, financial statements may be Regarded as a descriptive model for decision-making. Every item or elements on the financial statements are the result of a decision or decisions. For each decision, a management accounting tool is exist that may be used to make a good decision. However, the management accounting tools can be used only if the management Accountant is successful in providing the information demanded by the particular Tool.

This study is aimed at examining the effects of socio- economic and financial factors on the performance of women entrepreneurs in Oyo state and two hundred and forty women entrepreneurs who are involved in trading, hairdressing and tailoring were purposively selected from amongst those registered in their respective associations. All the data were derived from primary sources. The results demonstrated that a significant relationship exists between socio- economic factors and the performance of women entrepreneurs. All the socio- economic factors (age, marital status, education and years of experience) were significant and positive at (P < 0.05). This implied that socio- economic factors are critical success factors that help entrepreneurs to survive, manage in difficult conditions and keep the business profitable. Furthermore, credit and savings impacted significantly on the performance of the entrepreneurs. The micro-entrepreneurs surveyed were revealed to be performing very poorly because majority of the entrepreneurs had no access to external funds. The finding indicated that the women entrepreneurs’ propensity to save for the growth of their enterprises was on average very low implying that they were experiencing some constraint factors. This tends to affect the performance of the women entrepreneurs negatively. Therefore, the study recommended that formal and informal entrepreneurship education should be given to micro- entrepreneurs in order to develop their managerial capabilities, accounting skills and overall be made more credit worthy and the Federal government should consider developing policies that will create an enabling environment for the development and proper operation of cooperative thrift and credit societies and other group initiatives.