The performance of primary mortgage institutions in financing housing development in Abuja and Lagos, Nigeria
Housing development in developing countries in which Nigeria is not an exceptional case is a combination of many interrelated components which include land, infrastructure, building materials, policies, building regulations but more importantly is the finance component. This paper examined the performance of Primary Mortgage Institutions in financing housing development in Abuja and Lagos. It carefully identified the existing PMIs in the study areas, examined the mortgage business activities of the PMIs and the factors militating against effective performance of the PMIs in the study areas. The methodology employed by the research includes the collection of primary and secondary data. Questionnaires were administered to the PMIs existing as at the time of field work in Abuja and Lagos. This was done to collect data that will give a true representation of PMIs activities in the study areas. Among other findings, it was discovered that there is statistical significant relationship between the capital base and loans disbursed for housing development by the PMIs in the study areas. Recommendations were made to improve performance of PMIs for effective housing delivery.
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National competitiveness: a cross country analysis of quality of governance and financial sophistication of Asian emerging markets
This paper proposes a research framework involving two indicators of national competitiveness namely quality of governance and financial sophistication. Specifically, it proposes to examine the role of governance in influencing the level of financial sophistication among emerging economies in Asia. Good governance is needed to increase the wealth of people in a country as this will create positive influences at the regional and international scopes. On the other hand, a sophisticated financial markets is required to ensure the availability of capital especially from banking and capital market. The proposed framework is an important area of research as it will highlight the significance of governance practices as a major element in determining the level of financial sophistication in which suitable policies are implemented through good governance are expected to ensure a better access to financing that could improve the country’s economic growth.
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Effects of Diversification on Financial Performance of Small and Medium Enterprise in Somalia (A Case Study of Bakara Market)
The general objective of this study was to investigate the effect of diversification of the financial performance in Somalia with specific focus of the industrial small businesses in bakara market. This study investigated to ascertain how liquidity, risk diversification and mergers and acquisition affects financial performance of an organization in small businesses bakara market in Mogadishu. The study employed a survey research design in data collection.This research employed quantitative data collection method whereby data was gathered by the use of closed ended questionnaires which were self-administered. Factor analysis was used to assess the validity and Cronbach alpha to assess reliability of the questionnaire. Multiple regression analysis (standard and step wise) were conducted to determine the effects between the effect of diversification determinants and financial performance. Results confirm the varying importance of diversification determinants in the small businesses processing in Bakara market Mogadishu-Somalia. In general, the results reveal that risk diversification and marchers acquisition have significant and positive effects on financial performance, liquidity and risk diversification have insignificant effects on financial performance in the small businesses in bakara market Mogadishu-Somalia. The study recommends that to improve financial performance in the small businesses in bakar market Mogadishu-Somalia, managers of the small businesses in bakara market Mogadishu-somalia should nurture and develop market Competition and financial performance. Based on the findings of the study, it is essential to give recommendations in order to gather more gains from diversification. It is recommended that; 4 Management should in still discipline upon itself by ensuring good financial performance, promote technological progress and increase it?s paid up capital regardless of the statutory requirements so that the continued existence of the firm is not jeopardized after undergoing diversification. Management should not only undertake diversification in order to improve operation and sustain failing businesses but also improve their competitiveness and financial performance. Management should come up with a sound strategy towards liquidity and risk diversification management so as to avert the problem of mismatching investments and also the quality of liquidity should be enhanced. Management should put into consideration the degree of transferability and marketability of liquidity invested in so that these assets can provide liquidity to the firm with ease.
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Effects of cash flow Management on Financial Performance of Small and Medium Enterprise in Mogadishu Somalia (A case study of bakara market)
An ideal business needs sufficient resources to keep it going and ensures that such resources are maximally utilized to enhance its performance and overall profitability. Cash is the most liquid of assets and it represents the lifeblood for growth and investment and it is essential to survive because of its effects on a firm’s performance and risk reduction, and consequently its value (Smith, 1980). This study seeks to investigate the effect of cash flow management on the financial performance of SME’s in Mogadishu –Somalia. I want to understand the effect of cash flow management on financial performance and also My Objectives cash planning and cash controlling and liquidity management. The methodology will center on the research techniques adopted and used for this study with the aim of achieving the research objectives. A research design is clear as and generally plan for research undertaking. Research design provides the join that holds the research project together. Descriptive research design was adopted in this study. The research population is 360 individuals were Owners/managers of selected small and medium enterprises in Mogadishu-Somalia. There are many sectors of small and medium enterprises as, service sector, cosmetics, trade sector. The sampling Technique is descriptive to the strategies and researcher use to select respondents from target population. The respondents will be categorized into different where each group will have homogenous characteristics such as; owners/managers and employees. Since in most SMEs owners and managers can‘t be separated, one was selected from each business and my sample was 78. The instrument is a survey, questionnaire or tool designed to measure the variable(s), characteristic(s), or information of interest, often a behavioral or psychological characteristic. Research instruments can be helpful tools to your research study,. Because the information needed can be easily and quickly gathered from the respondents, and also it can target respondents in widely dispersed locations, in questionnaire development. Linear Regression analysis is used in this study to figure out the extent that independent variable (cash control, cash planning and liquidity management ) can influence the dependent variable (Financial Performance of SME’s ), while all other factors are constant. The table below shows regression analysis of variables cash flow management and business performance. Multiple regression analysis was performed to assess the relationship between the dependent Variable (Financial Performance of Small media enterprise) and the independent variables (Cash flow management) and to test the research. The regression results presented in above table indicate that cash control, cash planning and liquidity management were significant at 5 percent level. The coefficient of cash control showed 0.232 with a p-value 0.020, which is less than 5%, the coefficient of cash planning was 0.313, with a p-value of 0.003, which is less than 0.05. And the liquidity management was -0.065, with a p-value of 0.602 which is greater than 0.05 so that indicates there was statistically positive relationship between cash control and cash planning on financial performance of small Media Enterprise in Mogadishu and while the remaining variable was negative relationship between Liquidity management on financial performance of SME’s and statistical is insignificant.
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Factors Influencing on Economic Development of Somalia
Somalia is a country that has experienced excessive amounts of political instability during the past decade. Somalia, like most other countries in Africa, was colonized by European nations during the late 1800s (Roth, Somalia a country in turmoil , 2004). According to United nation Development Program (UNDP), the prolonged fighting in Somalia led to massive loss of property, lives and destruction of the society (UNDP 2008). Political instability contributed to massive suffering and poverty in Somalia, there has been massive unemployment and migration of people from the country. The study guided by the following objectives, to find out whether quality education affects economic development of Somalia, to ascertain how the gross domestic product affects economic development of Somalia, to determine the extent to which investments affects economic development. This study was descriptive in nature and it will utilize cross-sectional data collected through a standard questionnaire. This study will be conducted in Mogadishu City, the capital of Somalia. The target populations of this study will be114348 residents of Hodan District (UNFPA, 2014). In order to provide valid estimates, 384 respondents will be selected with Simple random sampling and only those present at that time will be chosen. The findings it shows that quality education plays a significant role in the economic development of the country. The study showed that a large percentage of the respondents in Somalia agree that it through offering quality education to the people of Somalia that productivity of the country will improve and economic development. The correlation analysis between the independent variable indicated strong relationship between the independent variables. This indicates that the independent variables were significant enough to impact the dependent variable. There is a strong relation between higher GDP and good quality education indicated by 57.8 percent. The relationship between Higher GDP and Savings is the only way we can increase economic growth indicated by 51.9 was significant enough to influence the dependent variable. The government of Somalia should strive for education quality improvement through renovating the teacher education and training system, improving teachers' quality and teacher status, reform and adaptation of curriculum at all levels The study established that savings and investment is the only way a country can increase economic growth, for any country to achieve economic growth there must be significant savings first.Investment means an increase in capital spending, e.g. buying new machines, building bigger factories and education. For example, investing in skills and education can increase labor productivity. Investment in new technology and capital can increase the productive capacity of the economy.
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Waves of microfinance and its influence on economic growth of Pakistan
Relationship between microfinance and economic growth has been a major concern for the policymakers of developing countries and focal point of economists to eradicate poverty, empower poor people and produce employment opportunities. This research applies OLS method to trace the impact of microfinance on economic growth in Pakistan.Variables of the study are active borrowers, active savers, active insured persons, borrowing, saving and insurance amount from microfinance institutions. Active borrowers and borrowing amount have highly significant positive relationship with economic growth of Pakistan. Active savers and saving amount have highly significant negative relationship with economic growth whereas insurance policyholders and insurance amount have no relationship. Government should not only increase outreach of microfinance but also devises a mechanism, which cannot only channelize the funds efficientlybut also avoid non-performing loans. Government should also provide some tax rebate or concession to microfinance and microcredit agencies so that maximum amount can be channelized towards economyin order to get long-run results.
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A Study on Time Management Towards Services Industries in Salem District
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.
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The Relationship between Financial Development and Economic Development
In this paper, we investigate the relationship between financial development and economic growth in the emerging economies. We explore the effects of financial liberalization and the impact of financial development on economic growth in the emerging economies. Financial liberalization creates market-based incentives that promote economic growth, (Davies, 2010).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. According to these discussions, the nature of casualty between the two was established. On the other hand, there is a very common view that financial development is significant and provides to economic growth popularly known as supply lending activity. Equally, there is an order following the belief which states that economic growth stimulates the progress of the financial sector. In addition, researchers state that a pointer association exists between financial development and economic growth. Due to the argument surrounding the link between the two, a group of researchers has subjected the financial growth link to experimental proof. However, despite their efforts, a gap remains in the literature. These results from the fact that very few studies have given attention to the stage development theory, developed by Patrick in nineteen sixty six, where the direction of casualty between the two variables changes over the course of development. The scarcity of experimental studies on Patrick’s theory may be due to limitation of information. 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.
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Investment Behaviour of Investors towards Commodity Market
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.
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Examining the impact of market uncertainty, investments and the quality of information in the investment authorities in Tehran Stock Exchange listed companies
The main aim of present study is to examine the impact of environmental uncertainty (market ) , the investments and the quality of information available to the authority of the investments of accepted Tehran Stock Exchange listed companies , as well as the increasing introduction of a new theory named the actual authority .The investment authority in asset capital also like authority is on financial assets with the difference that these authorities appear on the real assets such as the land , building , machinery and other physical assets. By using the traditional methods of assessing projects such as the method of cash flow reduction (net present value and internal rate of return). With regard to the elements of environmental uncertainty, managerial authority and flexibility in projects and investments lead unrealistic assessment. So with regard to these drawbacks to use theory of investment authority and its effects in the value of the company and determining its value could be a great help to the better and more real assessment of projects and investments. So in case this question arises that with regard to this point that managers have such authority, how they regard the structure and the logic of investments authority in the analysis and designing their projects with a view to environmental uncertainty, the cost of investment, riskless interest rate and the quality of the information available for the company ?. For this purpose by using public formula of Cochrane a sample including 163 financial directors of the corporate (manufacturing) of Tehran Stock Exchange reviewed their views and opinions about the investments authorities. And also to analyze the data the linear regression was used. By regarding the conducted surveys it become clear that based on the above - mentioned managers points of view the independent variables ( environmental uncertainty , riskless interest rate, cost of investment and the quality of the information available ) have a significant impact on investment authority .
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