Finance

The purpose of this study is to investigate the effect of using the Information Technology (IT) on financial performance of the Petrochemical companies listed on Tehran Stock Exchange. For this purpose, 164 of the staff experts of information technology and finance departments of the Petrochemical companies listed on Tehran Stock Exchange have been selected as research sample by using simple random sampling method and responded to the questionnaire. The presence impact of IT with its variables together which were represented as follows (IT Knowledge, IT Operations and IT Infrastructures) in the financial performance,light of findings of study recommended a number for recommendations and notably such as providing an effective working environment in Petrochemical companies focusing on the information technology which companies are able to achieve competitive advantages.

The research work is conducted on the firms in the chemical sector of Pakistan. This is a capital intensive industry and an important sector of the economy. The data has been collected from 2009-13 and includes cross sectional regression analysis. The dependent variables are accounting based return on equity and returns on assets while independent are the debt ratio and total debt to total equity ratio. The results indicate that the capital structure holds a significant positive relationship with return on asset and return on equity. The firms in this sector have a high debt to equity and debt to asset ratio and the results are against the pecking order theory that states that firms prefer to generate funds from internal sources and have a least preference for debt financing.

Social responsibility of organizations has been the most important elements of philosophy, So that it is important to abide by organizations within the social identity theory, Satisfaction of stakeholders outside the organization to legitimate organizations will strengthen. Many of the behaviors and actions of managers and employees, was influenced by moral valuesrooted in ethics. Due to lack of work ethic in management, organizations, societies such as Iran, which was one rich in moral values? The advanced countries have a considerable distance, can create problems for organizations. In addition to increasing the social expectations of organizations, societies, such issues as the environment, women, children, minorities, disabled people, equal employment and staffing reductions, are more sensitive. Organizations ignoring these rights and ethics in dealing with external stakeholders can cause problems for the organization and the organization and action of legitimacy put it, profits, and thus affects the success of the organization. Poor work ethic, the attitude of jobs, organized and effective managers, can affect the performance of individual, group and organizational influence.

With regard to the importance of customers in insurance industry, This research explores how relationship quality and commitment influence customer loyalty. Relationship quality consists of two aspects: satisfaction and trust. So, along with how the above mentioned variables from loyalty in a insurance industry environment, the managers of the branches of private insurance industry are given the chance to design and perform effective and proper strategies leading to customer loyalty. The statistical populations of the research are the customers of private insurance industry and the data was collected using the questionnaire and also the data has been analyzed using SPSS software. The results of the research show the positive effect of the abovementioned variables on loyalty.

The ethics of a business is currently a high profile issue owing to sensational corporate scandals that had taken place in many countries causing extensive damages to the economy and society. These corporate scandals question the morality of businessmen in general and accountants in particular. It is argued that the accountants have been the main contributors to the decline in ethical standards of a business. The application of ethical standards assists auditors to overcome ethical dilemmas which, allow for the right choice of professional behavior that may not only benefit the client but the public who relies on the auditors reporting. Auditors have an obligation to the clients they serve, their profession, the public, and themselves to maintain the highest standards of ethical behaviour.They have a responsibility to be competent and to maintain confidentiality, integrity, and objectivity. An analysis of attitudes toward ethics in the accounting profession showed that chances to engage in unethical dealings exist. Ethics is considered one of the most important criteria upon which all professions in achieving its goals; particularly the internal audit. It is one of the most important and the most serious issues that are dealt with in all societies; therefore, in this study, the concept of ethics and the need for ethics is necessary, as well as the qualities of faith, the physical, mental and psychological traits of auditor, and shed the light on the methods of preparation of a good auditor. The objective of this study, clarifying the concept of ethics and the importance of ethical principles, and conceptual need for ethics should all be reviewed and upheld by the internal auditor. The importance of this study stems from the importance of the ethical concepts and its necessity. The auditor should also be characterized by a commitment to follow through with their performance of internal audit work in accordance with the professional care needed. Care of any person who is keen and faithful to their work and the origins of a conservative organization, should note the importance of this study and the several recommendations that are important for all professionals of the audit profession.

Working capital management directly effects profitability of any firm. In this study, we select a sample of 33 Pakistani manufacturing firms for the period of 6 years from 2005-2010.We examined the effect of different policies of working capital management AIP (aggressive investment policy) and AFP (aggressive financing policy) on ROA (Return on asset), ROE (Return on equity), ROC (Return on capital). Descriptive analysis and regression analysis are used. The outcome of study shows that there is a significant relationship of ROA and ROC with AIP and AFP. Which means that change in AFP and AIP causes change in ROA and ROC. This study also shows that there is insignificant relationship of ROE with AIP and AFP.

The purpose of this study is to investigate the relationship between government deficits and surpluses of budget volatility and money volume volatility with Tehran’s stock price index volatility. The data used in this study is the total price index of Tehran Stock Exchange and fiscal policies of governments and monetary policies of central bank, including deficits and surpluses of budget and money volume as a seasonal period (1996 - 2008). For describing long-term relationships between variables VAR model is used and for investigating this relationship the effect of macroeconomic variables namely interest rate, consumer price index, house price index on the Stock Exchange index are considered. Estimation results show that changes in stock price index have a positive relationship with the money volume and a positive relationship with government deficits and surpluses of budget.

In this paper, we exam firm’s incentive to manage earnings raising external capital varies with investor beliefs. Under the spline specification regression: a firm is more likely to management earnings when investors are more optimistic about the industry prospects, but more reluctant when investor belief is low. We evaluate monitory cost to explore the reasons and find that using venture capitalists as specialized investors with lower monitoring costs than other institutional investors, earnings management is less likely for low investor beliefs but more likely for high investor beliefs for VC-backed firms relative to non-VC-backed firms. We can also obtain the same results as former study that auditor’s quality negatively related with earnings management. Considering above consequence, we documents IPOs firms engaged in managing earnings with high investor beliefs have an influence on the long-run abnormal stock return performance. These findings have implications for investors, firms, and accounting standard setters. More prudential monitory is important during market booming periods.

The banking sector is one of the biggest service sectors in India and now days is in a way to attract the biggest market of Asia in investment. The banking sector today is focusing on how to provide efficient services to its customers. The Indian Banking System consisting of various public and private sector financial institutions whose objective is serving the people for their financial and economic needs. This century has been full of innovations: new technologies, new products, new services and a plethora of new industries have emerged. Yet the call for innovation in business, especially in financial services, has never been more intense. Although research on this topic exists, there is no empirical evidence regarding the critical factors influencing customer adoption of electronic banking innovation in Ghana’s banking industry. The aim of this article is therefore to investigate the factors influencing the adoption of financial innovation in Ghana’s banking industry. Surveys were conducted involving clients of the banks in the country. This study focuses on banking service quality and identified various factors of banking service quality, i.e., access, communication, competence, credibility, reliability, responsiveness, security, tangibility, Courtesy and understanding. Main objective of the study is to understood and analyze the service quality dimensions and customer satisfaction level with banking services on banking sectors.

The aim of this study is to explore the linkage between data mining and CBBE model to increase our brand knowledge by employing consumer questionnaire to determine the linkage between data mining and CBBE model. Two questionnaires are developed, one from the consumer opinions of analyzed with association rule to understand the relationships between the association rules and each stage of the brand equity pyramid; the other based on the literature review about brand equity factor and brand equity pyramid to design expert questionnaire to explore the linkage between brand equity pyramid and factors. Three main objectives in this study were: (1) to address solutions to the three questions related to brand image and each point of brand development; (2) to derive nine association rules in total by using association rules analysis; (3) to construct an expert questionnaire, and assess the relationships between the questionnaire items and measurement factors in the brand equity pyramid. The results not only helped to understand the status of their brand development but also provided strategies recommendations to improve the weak or underdeveloped stages in the process of brand building.