Finance

Indian banking sector faced the many challenges due to enlarging NPAs in the banks. The profitability of the banks is not only adversely affected due to these NPAs’ but also enhanced the carrying cost. The net worth of the banks is also adversely affected. Due to the enlarging NPAs in banks, the RBI made stringent rules to curb the alarming situation. But in 2009, the RBI has to liberalised the norms in January 2009 due to the slowdown of Indian Economy. The private sector banks and the foreign banks exhibited the good show in bringing down the NPAs as most of the private and foreign banks brought down the NPA level up to 2 percent. Their sub-standard assets, doubtful assets and loss assets have decreased considerably over the time. The present paper is an attempt to study NPA problem in Private Sector and Foreign Banks in India.

The present paper aims at discovering and analysing risk in the emerging security in the stock market i.e Gold ETFs. The basic aim of the study is to study the financial performance, variations and analyse the risk behaviour of the selected Gold ETFs in comparison of NSE. The data for this has been taken from the NSE website. The period taken for the study is March 2008 to November 2010. Analysis is made by using financial tools like Sharpe’s index, Treynor’s ratio by calculating alpha, beta and standard deviation of the selected funds. The study will be beneficial for the investigators and investors who seek the best opportunities in the Gold ETFs.

The purpose of this paper was to establish the effects of credit risk and loan repayment on Kenya Power profitability. The increase in Kenya Power customer base has been a major challenge as majority of the customers especially the rural customers cannot afford to connect to the power grid due to high connectivity costs. Descriptive research design was used for this study and the target population was all 47 County managers in Kenya where respondents were selected using stratified sampling technique. The sample size used was 42 respondents and primary data was obtained by use of questionnaires whereas secondary data was obtained from the Kenya Power, Coast region. The study recommends that the Kenya Power should lower the amount required as deposit so as to increase the uptake stima loan by customers. The study also recommends that stima loan processing fee should be factored as major income to the Kenya Power as it increases profitability of the company.

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.

Ethics are important because finances make people do some strange things. The spreadsheet does not have a conscience, and the goal of working with spreadsheets is to make numbers add up in a way that is pleasing to the organizations and its constituents. 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. So unethical professional practice includes providing financial information poor quality can destroy public confidence in financial management. With increasing global attention to the topic of ethics and quality of information in the accounting profession, 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.

During the recent years, the efficiency factor has been focused by many institutions, organizations and companies as one of the key factors affecting on the manufacture; and therefore, manpower efficiency has been taken into much consideration as one of the components of whole efficiency. The improvement of efficiency, as a principle for developing the industry and consequently for increasing the employment level and the effect on many enormous variables, has found the special position in the economic literature and the improvement of efficiency as one of the best and the most suitable ways is considered for improving the situation of that unit and establishing and guaranteeing the profitability continuation of the company. This Article follows the examination of effective factors on manpower efficiency of vehicle-manufacturing companies and the rate of their effectiveness. Based on the arisen results, the manufacture variables, the rate of capital, salary, wages, bonuses and exports have the direct meaningful effect on manpower efficiency and the performed investment for development, researches and management changes arisen from the privatization have the negative relationship in proportion to the manpower efficiency.

The general aim of this study is to investigate the effect of exchange rate on financial performance of small and middle-sized companies in Mogadishu.Specifically, this study investigated the effects of Balance of payments, the effect of foreign direct investment, the degree of Inflation and the effect of Taxation. The related theories of exchange rate are Purchasing power Theory, Interest Rate Theory and Product Cycle Theory. This study was conducted through a descriptive study. In addition the study employed a survey research design in data collection. The sampling procedure of this study used non-probability sampling procedure particularly purposive sampling or judgmental sampling, this research employed quantitative data collection method whereby data was gathered by the use of closed ended questionnaires which are self-administered. The data collected was analyzed using the software called Statistical Package for the Social Sciences (SPSS) version 22 and results shown in terms of frequency distribution and percentages, the target population of the study is 160 employees of some merchandising companies in Mogadishu. A sample of 48 respondents was selected using Mugenda and Mugenda?s formula. The study used primary data. Data collection methods used included use of questionnaires. The selection sample technique was purposive or judgmental approach. A regression model was applied to determine the relationship between Balance of payments, foreign direct investment, inflation and Taxation as the independent variables and financial performance for small and medium sized enterprises as the dependent variable. The key findings of this study were: Most of the respondents agreed that International trade has a direct effect on the financial performance of the company. Most of the respondents also agreed to the fact that Company owners think they can create high profit for the company if they gain investment income. Company managers are always responsible when companies fail to implement financial transactions. The researchers recommended that: Somali merchants should try to increase domestic productions so as to add value to their money. The researcher?s second recommendation is that Somali government should control all import-export activities and try to increase exportations rather than importation Also top management of small and medium sized enterprises should motivate their employees to increase the performance.

This study aims to analyze relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) using content analysis from 1972 to 2012. In this study, strategy of Margolis and Walsh (2001), Orlitzky et al. (2003), and Dam (2008) is implemented and financial measures such as stock market returns, Tobin’s Q, and accounting profits ratios e.g. return on assets (ROA), return on equity (ROE), and return on sales (ROS) are targeted. Study concludes that strong positive relationship exists between CSR and CFP using Tobin’s Q as financial performance measure, mostly studies found positive relationship between CSR and CFP using ROA, ROE, & ROS as financial performance measure, and mostly studies found negative relationship between CSR and CFP using stock market returns as financial performance measures. This study will provide literature evidences as record about CSR and CFP to empirical as well as theoretical prospective researcher and limitations are discussed also.

The main objective of this research is to determine the impact of corporate social responsibility on financial performance of the company, considering the role of mediation of corporate governance in companies admitted to the Tehran Stock Exchange. This research is an applied research in terms of purpose and also is a descriptive survey in terms of data collection. The statistical population of the research is the managers and experts of the companies accepted in the Tehran Stock Exchange who were members of the Stock Exchange during the years 2014 and 2015. By systematic deletion, 120 individuals are selected as samples. The collected data were analyzed using SPSS and PPL software. The hypotheses were analyzed using structural equation modeling. The results of the research showed corporate governance in relation to social responsibility on the financial performance of companies admitted to the Tehran Stock Exchange plays a mediating role.

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.