Finance

In the dynamic business environment, organizations have implemented Enterprise Resource Planning system solutions to gain competitive advantage and fasten service delivery for value realization. Despite their benefits, ERP solutions have not been fully embraced by SACCOs, and those that have implemented the ERPs are not able to justify the benefits of the investment. Therefore the purpose of the study was to establish the value realizations for SACCO’s after the implementation of Enterprise Resource Planning solutions, Nairobi region. Specific objective included: to establish the levels of ERP implementation and the value realized by SACCOs through ERP implementation. The researcher administered the questionnaires to the respondents randomly on a drop and pick basis. The data collected was expected to give both quantitative and qualitative results and it was analyzed using descriptive and regression model. It was found out that there was a strong relationship between the implementation level and the benefits of the ERP systems to SACCOs. The findings recommended that ERP systems should be implemented for customer relationship management; education, training and mentorship; monitoring and evaluation; and for research and development and for these reason, SACCOs should invest in the ERP systems.

Fintech is a short form of financial technology. It is completely revolutionizing the speed, the scale and the cost of getting financial services to the people by offering new services within the traditional banks, while potentially offering new opportunities within their competitive propositions such as alternative payments and lending mechanisms. Today, mobile payment solutions are available to those without a traditional bank account. Kenya is a world leader in the adoption of mobile payments. M-Pesa, Kenya?s first mobile wallet launched in 2007 to seamlessly transfer funds throughout Kenya, had over Kshs 7 trillion transacted and in 2017, the platform had over 1.7 billion transactions (Safaricom MPESA report, 2017). The transaction value processed through M-Pesa in 2018 shall be higher than the Kenya?s GDP which is Approx. USD 72Billion. Fintechs services offer diverse new opportunities to the banks and they should be embraced. Proper security measure should be put in place to protect the clients who use the services. Banks should also come up with strategies and ways of approaching and dealing with FinTech firms, to ensure that their interest is safeguarded.

Ethical accounting concept of business ethics relates directly to transparency, accountability & Corporate Responsibility. The major ethical issues occur in accounting and finance are reporting false income, falsifying documents, allowing or taking questionable deductions, illegally evading income taxes, engaging in frauds etc. Indian Ethos is all about what can be termed as “national ethos”. Self-governance is an abstract concept that refers to several scales of organization. Some degree of consensus decision making is usually involved in any self-governance system, if only because individual members of the group may choose to violate the criteria for invoking outside authority, break the code of silence, or otherwise cause the group to lose its autonomy. The need of the hour is the requirement of ethical accounting regulations and in this research paper tried to relate the Indian ethos for self governance.

The study was undertaken to know the investment behaviour of investors towards commodity market. Commodity markets have become alternative investment class world over. Commodity markets are an ideal investment for today’s modern financial scenario. The study evidences that the investors are risk averse on past performance. Their experience and knowledge in investment activity helps them to analyze the price variations at regular intervals in commodity market and make rational decision making. The impacts of various demographic factors on investment behaviour of investors towards commodity market have also been studied. For measuring various phenomena and analysing the collected data effectively and efficiency for ANOVA and t-test has been used to analyze the various demographic values. A Sample of 119 respondents is taken for this study.

The study evaluates the performance and risk of monthly income plans of selected mutual funds with an objective to identify the top performing monthly income plan amongst the selected plans. The study has analyzed growth performance on the basis of returns of 6 months, 1 year, 3 years and since inception returns. Growth performance of the funds have been compared with industry average, and its benchmark index i.e., CRISIL MIP Blended Index. The Standard Deviations, Sharpe Ratio and Beta of the selected schemes have been compared to analyze volatility of the schemes and return per unit of risk. The study ends up with identifying top performing monthly income plans for relatively aggressive and conservative risk profile investors.

Since the intellectual capital provide a new and perfect model to observation of organizations real value, therefore, the tendency to evaluation of intangible assets true value of intellectual capital has increased in companies, shareholders (investors) and other stakeholders. This study investigates the relationship between the intellectual capital and its growth rate with earning management in accepted companies in the Tehran Stock Exchange. The statistical society of study includes all Tehran Stock Exchange firms after put of certain conditions sampling was undertaken. Finally, during the period 2006 to 2013, 121 companies selected.The methodology of research is descriptive. Using a modified Jones discretionary accruals calculated as a measure to detect earnings management and then placed in the regression model defined earnings management, Hypotheses were tested. With the use of regression analysis the research hypotheses have been carried out. Also a number of control variables consist of Size and M/B have been used. The results of this study show that there is a significant relationship between intellectual capital and earnings management but there is a significant relationship between intellectual capital growth and earnings management.

In the current paper, the fundamental principles of Canada stock exchange are firstly reviewed and then, the importance of stock exchange’s instruments in Canada, especially their role in development of money and capital market, is investigated. Finally, some basic recommendations are presented.

Current study intended to explore cost of financial distress in case of Pakistani manufacturing ongoing firms listed at KSE. In doing so, financial distress is divided into operating distress and financial but not operating distress. Sample consists of ongoing firms that were at least once on distress counter for the period of analysis. To conclude the proposed theory descriptive and independent t-test for mean differences are used. It is found that firms bear opportunity loss before and after entering to both operating and financial distress. Moreover, results also show that operating distress affects more to firms’ value as compared to financial but not operating distress category. However, result for pre financial but not operating distress is found insignificant. In conclusion current study provides opportunity to all investors, management and other stakeholders to assess firms’ performances before and after entering to both operating and financial distress.

Cost management should be regarded as a process requiring the integration of separate discipline and involvement of the internal and external experts. Effective cost management requires the implementation of methodologies and steps that are repeatable and can be integrated with organization goals. For MSMEs to compete effectively in the global market, the cost of a product should be reduced by increasing productivity, by reducing manufacturing costs at the shop floor. The need is to see the cost management practices employed and the efficacies of such practices, which will enhance the opportunity to improve the decision-making process of the MSMEs. This paper studies the significant differences among efficacies of existing cost management practices used by the enterprises and establishes a functional relationship among cost management practices, efficacy, and action to achieve business objectives. In the process, Statistical tools like ANOVA, Regression Analysis, Inter-correlation matric, Path – Coefficient Analysis were used.

The paper examines firstly a theoretical framework of the relationship between financial development and economic cycles’ volatility; and secondly it analyses empirically this relationship in ten newly industrialized countries by estimating a dynamic panel over the period 1988-2013. It tries to check the specific effect of some crucial macroeconomic financial variables on the stability of economic cycles as a decisive component of economic growth. The empirical results suggest that there is not enough evidence concerning the long-run relationship between financial development and its contribution in smoothing economic cycles or even avoiding economic downturns episodes. By contrast, according to the co-integration and unit root tests results in the in-sample countries, a long-run relationship can exists for a few selected countries. Furthermore, it can be assumed that because of the cross-sectional dependence, the hypothesis of no co-integration between financial development and economic cycles’ volatility is rejected for the whole panel, although it must be accepted for some countries.