Finance

This study is based on observation on court-domination; it tries to answer how the governmental organs and their staff who were not chosen by people directly should answer people. The same essay has introduced some concepts of answering, it is to examine some answering goals in the governmental centers and their different aspects. This study is to assign an example as a theoretical form in order to compare some of usual answering systems in the world. The writer, by using the same examples of answering systems in English and America which are two political (parliamentary and boss) systems and those of Pakistan and Bangladesh have explained all details. The writer hops to study the reply systems in the foresaid societies, let us know about these systems and their effects.

In the modern commercial era, companies and their managers are subjected to well publicized pressure to play an increasingly active role in society – so called “Corporate social responsibility”. It has been argued that an element in this development is simply enlightened self-interest in that social responsibility enhances corporate image and financial performance. To date the evidence to support this thesis derives from North America. Outside this continent evidence for any relationship is sparse. This study will initially attempt to definethe concept of corporate social responsibility and to examine its guiding principles. Subsequently, the available empirical research into the link between corporate social responsibility and economic performance will be evaluated this study examines different impacts of positive and negative CSR activities on financial performance of hotel, restaurant and airline companies, theoretically based on positivity and negativity effects. Findings suggest mixed results across different industries and will contribute to companies’ appropriate strategic decision-making for CSR activities by providing more precise information regarding the impacts of each directional CSR activity on financial performance.

The main purpose of this paper is to overview the goal and objectives of corporate governance from the theoretical perspective within the financial sector of Pakistan. This sector has experienced some high profile corporate scandals in all over the world, for example BCCI, Baring Bank, and Equitable life. The corporate governance structure set the rules and regulations for the distribution of rights and responsibilities among different stakeholders to avoid fraud. In this conceptual paper first the broad parameters of corporate governance are discussed, from a theoretical perspective, and specific characteristics are derived from theoretical knowledge that is applicable to financial services sector of Pakistan. Different issues are examined and the extent to which they have been addressed by contemporary academic or policy-related studies is considered. The main focus of this paper is banks. The key issue arising is the rapid changes brought about by globalization, deregulation and technological advances are increasing the risks in banking systems. External regulators, SECP, and auditors should play significant role to minimize these risk and should encourage sound governance practices. One avenue of future research would be to assess the effectiveness of compliance in the Pakistan; given that financial companies have obligations concerning code provisions. Some key issues pertaining to corporate governance in financial services are addressed, highlighting their significance to encourage further research by academic and practitioners in the field.

This paper assesses the benefits, problems and implications of the use E-commerce to developing economy like ours (Nigeria) in the area of international marketing. The position of this paper is that despite the myriad benefits of e-commerce in the international scene, the concept has held African countries under electronic siege. It promises freedom for all but in practice it's under developing Africa faster. The historical evolution of NWICO is responsible for this scenario. The lesson to be learned from the paper is that Africa should join the rest of the world in developing electronically platforms that 'will help our products marketed and competed internationally in the "market space ".

Green Banking means combination of operational improvements, technology and changing client habits in banking business. Adopting green banking is not only useful for environment but also benefits in greater operational efficiency. This paper analyzes the evolution of green banking concepts in India, its necessity and significance. It also highlights the major benefits and challenges of Green Banking. Banks should go green and play a pro-active role in India’s emerging economy. This paper has also presented the status of Indian Banks as far as Green banking adoption is concerned. It also highlights the green banking initiatives been taken by the Indian Banking Industry. It gives a detailed study on the findings that there have not been many initiatives in this regard by banks and financial institutions in India though they play an active role in India’s emerging economy. The objective of this study is to find out what initiative has been taken by the Indian Banking Industry to adopt Green Banking. This article also presents the to find out different ways to overcome such hindrances. Observational method and descriptive research design has been adopted for this research and secondary data has been chosen for the research.

This study examined the factors driving economic growth in Nigeria from the period of 1981-2014 using Johansen co-integration and VECM analysis technique to test for the existence of co-integration between the variables of this study and causal impacts. The result found that there is no causal relationship between labour and economic growth in Nigeria and causality do not run from labour to economic growth. Also, there is a causal relationship between economic growth and capital in Nigeria, and capital is causing changes in economic growth in Nigeria. There is also a causal relationship between capita and labour, the granger causality result shows that there is a causal relationship between labour and capital. This study therefore recommend that the government should use expansionary monetary and fiscal policies that reposition the structure of Nigerian economy to revive economic activities in the economy which will help rise both labour and capital for increased growth rate.

Market interactions among stock market of the world have necessitated the relationship among different financial markets driven by market liberalization and international pressure to lower trade barriers, which have enhanced international linkages between capital markets. This study examines the dynamic causal linkage among the selected equity market in Africa using the generalized Vector autoregressive (VAR) framework that produces forecast error variance decompositions and also accounts for correlated shocks using historically observed distribution of the errors. The time series data from investing.com over 01/02/2004-01/07/2016 are employ for the study. The findings on dynamic return linkages is that there is no strong significant returns linkages among the African selected markets. Controlling for the influence of advance market (UK and US). The results show that the South African market has more link with international markets than the Nigerian market. A crucial finding is the lowest spillover index recorded through variance decomposition and impulse response among the African markets. This is an indication of possible gain in African market and in line the portfolio theory. The finding of this study have important implications for policymakers.

This study the impact of company financial leverage and growth opportunities on the investment decisions using information on Iranian companies listed on Tehran Stock Exchange. This paper aims to answer is whether financial leverage influences the investment decisions in Iranian context. By answering this question, the author attempts to add to the existing literature by bringing new evidence on the relationship between leverage and investment decisions of firms listed in Tehran Stock Exchange in Iran. For the study purpose, the 92 companies with the desired condition were selected for this purpose and panel data with fixed effects was used to test hypotheses. The results of this research show that companies with higher Financial Leverage adjust their investment decisions. The results of this study can be used by shareholders, managers and finance researchers.

The association between economic growth and financial development has been a wide-ranging subject of experiential research. The practical evidence suggests that there is a significant positive relationship between financial development and economic growth. The endogenous growth literature provides copious evidence that financial development is a key determinant of economic growth. Theory interconnects these two factors based on the logic that by reducing information, transaction, and monitoring costs, a well-developed financial system performs several critical functions to augment intermediation efficiency. The impact of financial development on economic growth is a controversial issue on both empirical and theoretical framework. Aegis et al (2007) classified this matter into four schools of thought. The first one is denoted as supply-leading view which was first analyzed by Schumpeter (1912) and John Hicks (1969). They noticed that the prosperity and evolution of the economies in certain countries were backed up by the capacity of financial systems to activate the productivity of the financial capital. Later on, Levine (1997) pointed out that the development of the financial sector, with its two components stock markets and institutions, plays a remarkable role in the economic growth. Cline (2010) argues that the improvement in the financial sector will lead to an enhancement of the various sectors of the economy. Besides, the endogenous growth literature is in line with this point of view and assumes that the government intervention in the financial system (such as high reserve requirement, interest rate ceilings, etc) has a negative impact on the economic growth. Financial market development is estimated by the effect of credit market development and stock market development on economic growth. The relationship between economic growth and financial development has been an Extensive subject of empirical research. The question is whether financial development Causes economic growth or reversely. The main objective of this study was to investigate the causal relationship between economic growth and financial development taking into Account the positive effect of industrial production index. This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. It describes the role of financial system development in economic growth at the macro level, both theoretically and empirically. It also describes briefly the relationship of corporate finance and firm performance. It finally concludes the review and presents some policy implications in view of the reviewed literature. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research.

In today's heightened ethical awareness and increased competitive pressure, the implications of ethical behavior for financial institutions have become a vital determinant of customer loyalty. Ethics and management have long been viewed, if not as being incompatible, at least as being at odds with each other. This has often translated in the field of environmental policy and Management into radical opposition between supporters of economic performance and Environmental lists. It has seemed that the ethics of economics and that of environmental Preservation was themselves at odds. Ethical decisions are not made in isolation and situational factors such as job context, organizational culture, and characteristics of the work itself have been shown to impact the ethical decision making process Ethical behavior is an important aspect for the success of a company, as it influences its relations with various stakeholders. Financial managers are responsible for the difficulty in interpreting sensitive and Exchanges presenting them in the form of financial reports that can be used to evaluate corporate performance is Month interest groups are responsible. Whatever the financial impact (positive or negative) which may be involved by applying a particular ethical policy, it would be possible to reduce those effects by weakening the ethical criteria used or applying them in different ways. For example, by allowing companies into the portfolio which derive only small amounts of turnover from an activity of concern, or by achieving a market sector weighting for the portfolio by applying a best of sector approach? In this paper an attempt has been made to the research vacuum in the corner of the financial manager explained the moral perspective on the quality of financial reporting to be filled. Field research companies in Tehran Stock Exchange are accepted. In this study, the ethical perspective of financial management as the independent variable is the moral status was assessed with a questionnaire. Quality and usefulness of financial reporting used to be correct financial reporting as dependent variables were examined. The aims of the present study include applied research, in terms of how to collect the required data from the standpoint of descriptive and correlation research is considered. For data analysis software (SPSS) was used. Based on the results obtained from the ethical perspective of financial management and financial reporting, there is a significant relationship; It is recommended that companies choose their money managers not only scientific and practical aspects of management should be considered But the ethical aspect of the study is important for managers should pay special attention to ethics and corporate managers have a choice.