Finance

The purpose of the study is to empirically examine the impact of firm size and its performance on total cash compensation of executives. The study uses a sample of 32 companies from three different sectors listed at Karachi stock exchange for the period ranging from 2006 to 2010. Pearson correlation analysis and regression analysis are used to analyze the impact of firm performance and its size on total cash compensation of executives. We find the firm size and its performance have significant and positives impact on total cash compensation of executives. The firm size is the most significant determinant of total cash compensation of executives as compared to firm performance. Most of the executive pay and performance literature is published with reference to USA, UK and other developed economies but fewer studies are conducted in developing economies like Pakistan. This is the pioneer study of its kind with reference to Pakistan so it can be a useful source of reference.

This study presents the impact of type of ownership structure on share repurchase for Malaysian listed companies by using the pooled panel data analysis for a period of six years (2005 to 2010). Findings from this study indicate that companies with government, foreign and managerial ownership have significant influence on share repurchase. It is concluded that the higher the government ownership, the higher the value of share repurchases transaction and vice versa. Meanwhile, there is an inverse relationship between foreign and managerial ownership; and share repurchase in Malaysia.

By appearing information age and the promotion of interpersonal relationships and the manifest of strategic organizational, the emotional intelligence hypothesis have had a remarkable growth and became one of the popular organizational major. Emotional intelligence is a comprehensive expression including extensive collection of skills and personal specifications which is above certain scope of previous knowledge like technical or professional skills. The influence of emotional intelligence on financial resources attraction of Saderat bank managers has been assessed in current paper. Emotional intelligence dimensions in this study are: self-awareness, self regulating, motivating oneself, empathy, and social skills. the proposed hypotheses by applying Spearman and Friedman tests have been assessed and the positive and meaningful relationship between emotional intelligence and financial resources attraction were approved that motivating oneself, self regulating and self awareness were chosen as the most important ones. Among demographic characteristics there is positive relationship between managers’ age and financial resources attraction. Finally the results of Binomial test show that all variables were placed in high levels.

While the philosophy behind tax incentives and corporate financial performance is appealing, its analytical content and utility remains somewhat controversial and of empirical interest. This study assesses the causal influence of tax incentives and corporate financial performance on a sample of 50 listed companies in the NSE, covering the period of 2006-2010. The postulated hypotheses were tested, using multiple linear regression (MLR) analysis. With r values of .996, .984, and .948 very basic aprori reasoning established is the existence of a robust dimension and the three measures of corporate financial performance, namely return on equity, return on sales and profit after tax. The significance of this attempt can be seen in the ability of the models to permit inter-sector; inter-industry, inter-institutional, as well as inter-country comparative analysis relating to the specified variables. Further empirical research is however recommended to verify the validity of these submissions and the overall explanatory power of the models constructed, using data drawn from developing countries. Keywords: Corporate Financial Performance, Profit After Tax, Return on Equity, Return on Sales, Nigeria.

As companies hand over most of their profits in the form of tax payments, there is likely to be little left over for shareholders. This study examines empirically the effect of tax planning strategies on board size of companies in Nigeria. The study adopts a combination of survey and causal – comparative research design. This was augmented with primary data on 15 selected tax mitigation strategies obtained from 140 respondents using researcher – designed questionnaire validated by experts and shown to have reliability co-efficient of .93%. Descriptive and multiple regression analysis were used in analyzing the data with the aid of special package for social sciences (SPSS) version 22.0. With an r .813, r2 of 0.463 and f-ratio of 18.243 significant at 1% level, the investigation reveals a positive and significant influence of tax planning strategies on board size of companies in Nigeria. The study concludes that the tax planning strategies exerts a positive and significant influence on board size of companies in Nigeria. We recommend that corporate executive and tax planner should posses sound knowledge of tax laws and apply tax mitigation strategies endorsed by law to existing alternatives in every business transactions with the view to choosing the options that produce the highest tax savings. Keywords: Tax Planning Strategies, Tax evasion and avoidance, Tax mitigation, Bard size, Nigeria.

This study aims at analysing and determining the relationship between the efectivnes of Intellectual Capital and beneficial investment opportunity set in 81 Companies of listed in Tehran stock exchange during 85-90 years. In the analysis of the relationship between the variables and proving the hypothesis of the study, correlation method (simple regression and multiple regression) was used. The result show that ther was significant reletionship between the human capital, structural capital and employed capital efficiency with beneficial investment opportunity set, also ther wasnt any relationship between the effectiveness of Capital Intellectual and ratios of EPS-to-P. so that ther was significant relationship between effectiveness of Capital Intellectual and beneficial investment opportunity set. This means that the efficiency of human capital, structural capital and employed capital can be utilized as a valuable resource for profitable investment opportunities for companies to take account. It can be concluded that the effectiveness of intellectual capital, is a potentially benchmark for measuring and reporting of beneficial investment opportunity set.

The Indian aviation industry is one of the fastest growing aviation industries in the world. After LPG policy, the government's open sky policy has led to many overseas players entering the market and the industry has been growing both in terms of players and number of aircrafts. Today, private airlines account for around 75 per cent share of the domestic aviation market.

Working capital management is considered to be a crucial element in determining the financial performance of an organization. In this study, the purpose was to investigate working capital management and their effect on financial performance of the remittance companies in Mogadishu Somalia. Using descriptive research design, a total of 81 managerial and staff members from the two out-grower companies were targeted by way of completing a standardized and semi-structured questionnaire. The study adopted a regression and descriptive research design which attempted to explore the relationship between working capital management and financial performance. The performance was measures in terms of profitability by return on total assets, and return on investment capital as dependent financial performance (profitability) variables. The working capital is used three objectives which account receivable management second objective were cash flow management and last account payable management on the financial. In order to plane research finding the researcher used descriptive design and the data instrument used the study was questionnaire. The data analyze was SPSS (version 16).data was presented using by both descriptive and regression with anova and lastly the finding as the following.WCM practices were comparatively more effect on the financial performance. Specifically, it was observed that the companies’ receivables were mostly effect on the financial performance. Second cash flow management have passively effect on the financial performance and account payable like so finding to study became a number increased to account receivable in greases financial performance and also a number increased to cash flow management also to account payable add value or positively effect on the financial performance of the remittance companies in Mogadishu Somalia. Finally, there was need for the remittance companies to allow and increase their working capital management.

Corporate Governance is the key to the global integrity of corporate institutions especially financial institutions and other sectors. In Nigeria, especially in the financial institutions, there is quest for good relevance of corporate governance and this is strengthened by the desire to draw investments and support economic growth, which constitute a good reward to both local and international investors. Incidentally, Nigerian financial institutions have suffered a lot of deterioration in their asset portfolios, largely due to distorted credit management and this has led to crisis in the institution and ultimately to the merging of Banks. This study sought to: (i) examine the impact of corporate governance on return on assets of some selected commercial banks in Nigeria. (ii) determine the impact of corporate governance on return on equity of some selected commercial banks in Nigeria. The study made use of cross sectional data for 10-years which were collated from Central Bank of Nigeria – Statistical bulletin for the period, 2003-2012. Two major objectives were formed and tested and results revealed that in the first objective the adjusted R-squared estimate is 86% and statistically significant at 5% significant level, which implies that the estimated model has high goodness of fit. For the second objective, the adjusted R-squared estimate is 58% and statistically significant at 5% significant level, which implies that the estimated model has high goodness of fit The study recommends, among others that central Bank should issue efficient monetary policies that would intensify transparency, integrity and curtail insider abuses on customers account in the Banking institutions. Above all, this study has contributed to knowledge by providing vital information on corporate governance on five of the commercial Banks in Nigeria.

The study focuses on the relevance of forensic accounting as a tool on fraud management in Nigeria, and how effective it has been in fraud management so far. Forensic accounting is still although recently flourishing in Nigeria. Notwithstanding, so many public owned organizations have adopted its use, especially because of the level of fraud and corruption in Nigeria. The study applied survey design. For the analysis, data were generated by the administration of questionnaire to some public organizations (both the federal and state) including ministries, departments and agencies of government domiciled in Imo state of Nigeria. The analysis of the data employed the use regression and analysis of ANOVA (Analysis of Variance). The study revealed among other things that the application of forensic accounting is fraud management has not been effective considering the level of fraud and corruption in Nigeria. The empirical studies here also revealed that there is a positive relationship between forensic accounting and fraud. With time, the application of forensic accounting will be so developed in Nigeria as to be more effective and efficient in fraud management. Nawaz (2011) shows that forensic accounting at the moment is playing a very important role in preventing the business entities from indulging in any of the irregularities like the manipulation of the financial statements, the misrepresentation of the annual reposts, as well as the false presentation of profits in order to entice the investors and blanks (Window Dressing or Creative Accounting). Since forensic accounting is new in Nigeria a strong system of internal control is the most effective method of fraud prevention. Key Words; Forensic Accounting, Fraud Management.