This study is on financial reporting in Small and Medium Enterprises (SMEs) in Nigeria: challenges and options. The study was carried out to determine the challenges facing Small and Medium Enterprises (SMEs) in adopting effective financial accounting reporting in Nigeria and to ascertain the contribution of poor credit facilities to inadequate accounting records in SMEs in Nigeria. Survey method and time series data were used and data were collected through the use of questionnaire and CBN statistical bulletin. Data generated were analyzed with simple percentage table. The study found that the challenges facing SMEs in preparation and presentation of financial reports are: inadequate accounting books and records, manpower, accounting system and non-running their transactions through the banking system. The study recommends among others that since keeping proper books of account and preparation of financial records can only be done by professional accountants, the two main bodies in Nigeria: ICAN and ANAN should encourage their members to offer free professional service to SMEs in Nigeria.
Financial reporting, small and medium enterprises, challenges and optionsFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2534
The study is conducted to investigate working capital determinants for the UK Pharmaceutical companies that are the constituents of FTSE 350 index. Secondary data is collected through annual reports and DataStream database for the UK Pharmaceutical firms since 2009 to 2014. Panel data method is used and OLS is employed as an estimation tool. Working capital is the dependent variable while firm size, profitability, leverage, operating cycle, growth and level of economic activity are independent variable. The result of multiple regression show highly significant results. Working capital is negatively linked with firm size while positively linked with growth and level of economic activity for UK Pharmaceutical firms. Furthermore, insignificant results of working capital with operating cycle, profitability and leverage are observed.
Working capital, liquidity, profitability, operating cycle and economic activityFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2535
Jordan was Successful bringing for foreign investment (banks) that gave the facilities to play in economical development, particularly financial performance in lending and savings, so that the local banks (Jordan) has benefited from the presence of these windows in her community, so contrary the establishing of these banks in growing countries like Jordan and involving its with the local banks has a positive impact in taking advantages of the experiences banks (foreign branches in Jordan) in the areas of competition, lending mechanisms, utilize, how these banks (foreign) able to be characterized by financial and administrative performance within a short period to enter the market and the open local and international windows for our local banks. Here comes the importance of talking about the financial performance of foreign banks in Jordan and what are the rules that worked on those banks that got what it got from advanced centers in the world as a whole in the field of economic banking.
Number, foreign banks, Jordan, local assetsFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2536
This study aimed at showing the compatibility of (GFMIS) with requirements of the Internal Control System (ICS). The study problem is searching in the compatibility of (GFMIS) to achieve requirements of (ICS) (control environment, risk assessment, control activities, information and communication and monitoring). The community of the study is from the Jordanian governmental sector. (160) questionnaires are distributed to the internal auditor working in such organizations. (147) questionnaires are valid to be analyzed. The study revealed that (GFMIS) is moderately consistent with the requirements of (ICS), in general. The study recommends to develop (GFMIS) in accordance with the (ICS) international standards. From other hand, the study recommends that not only the traditional control is interested in, but also increasing interest in risk control and adopting a system that provides financial and accounting information required checking and assessing the optimal use of available resources.
Government Financial Management Information System (GFMIS), Internal Control System (ICSFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2537
Social Enterprise is a fast emerging discipline that generates social impact through an entrepreneurial approach. This study examined social enterprise and its contribution on economic growth. The theoretical analysis provides that social enterprises are essential for economic growth and play a significant contribution in local economies through job creation, improving quality of life for the local people and provision of valuable social services. The potential of social enterprises to contribute to economic growth depends on broader system of different layers in the society to influence and increase impact as change agent. Therefore, social enterprises should be included into economic processes such as in doing business, in economic policy making and in financial policy. However, a number of basic policy and legal measures are necessary to create an appropriate environment for social entserprise development that can improve the impact of social entrepreneurship in the society. The principle requirement is to create a favorable legal context which treats social enterprises similar to business organizations.
Entrepreneurship, social enterprise, economic growth, policy recommendationsFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2538
The study aimed to examine the impact of Electronic banking services on the customers’ loyalty of commercial banks in Jordan. The Electronic banking services represented by (ease of use, usefulness, cost of use, web site design, Privacy and accessibility). The population of the study consisted of customers of commercial banks in the North region of Jordan which are (Cairo Amman Bank, The Housing Bank for Trade and Finance, Ahli Bank, Bank Al-Etihad, Bank of Jordan, Arab Bank), a random sample was taken amounted (400) participants, SPSS version17, was used to examine the study hypotheses and achieve its objectives. The study found that there is statistical significant impact of the Electronic banking services (Ease of use, usefulness, Web Site Design, privacy) on Customers loyalty of commercial Banks in Jordan. Regarding the dimension of Accessibility, the study indicates that it had insignificant impact on Customers loyalty. The researchers recommend the use of specialists in the field of electronic sites design in particular, because the site attractiveness needs experience sufficient experience in this area to support its attractiveness for customers, and to benefit from the experiences of the developed countries in the field of software technology control and protection of customer information, in order to strengthen current Software applied to those banks.
Electronic banking service, customers’ loyalty, commercial banks, JordanFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2539
Knowledge sharing and Innovation important topics at this century because all organizations lead employee to create new ideas also, transfer knowledge to increase performance interaction. This research paper examine the critical academic work in each streams of inquiry, the significance of knowledge management and its tie-in to innovation activities is broadly mentioned through focusing on knowledge sharing dimension IT support, organizational culture, empowerment leaders, rewards and its link with organizational innovation activities is widely acknowledged about new Tec, new market share, new stockholder and administrative innovation. This research paper work to propose theoretical model based factors derived from taxonomies by data collection from the second information collection via using literature review to make critical review. This paper recommends the organizations to adoption factors of knowledge sharing as a positive way to achieve innovation and competitive advantage.
Knowledge, knowledge sharing, process of innovation, technologyFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2540
This study aimed to demonstrate the role of financial analysis tools in making decisions of granting loans to the clients in Jordanian commercial and Islamic banks operating in Aqaba Special Economic Zone. The study concluded that the bank credit departments at these banks rely on the tools and techniques of financial analysis when receiving customer requests and sorting it for the granting of credit. However, the role of the bank credit departments at these banks is not enabled as required and is dominated by marketing nature more than credit standing, where its role is limited to promoting banking services through receiving client requests, sorting and sending them to main centers concerned with making granting loans decision. The study has recommended the necessity of activating the role of these sections as well as developing the staff skills of those sections to use financial analysis tools and giving credit departments at banks operating within Aqaba Special Economic Zone the necessary authorities to make decisions to grant customers credit through the application of financial analysis methods. Moreover it is necessary to stimulate and encourage the credit department's staff in these banks by giving them bonuses and rewarding their dedication and their honesty, which will enhance the mutual trust between departments' staff and the managers in these banks.
Credit decision, Financial Analysis Methods, Financial Ratios, Granting LoansFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2541
Inflation is a critical aspect of every economy and presents a balancing act to most governments through regulatory framework. Inflation can break or break the economy of a nation. Hence policy makers in the government regulating bodies spend considerable time in developing policies aimed at achieving set targets of inflation which are geared to supporting the broader economic objectives of an economy. The Central Bank of Kenya (CBK) has responsibility of formulating and implementing monetary policy to achieve and maintain low inflation. This study set to establish the relationship of monetary policy tools and inflation in Kenya.. The study used time series empirical data on the variables to describe and examine the relationships between monetary policy tools and inflation. The study obtained secondary data on Price Index for inflation, 91-day Treasury bill rate, exchange rate, money supply (M3)and repo rate for a period of five year (2008- 2012). Analysis on the various variables obtained coefficients of correlation denoted as ‘?’ which shows the strength of relationship between monetary policy tools and inflation in Kenya. The study established that inflation and the money supply were positively correlated with each other. The study established that the general level of prices increase with the increase of money supply. The study found that the 91 treasury bill rates have an impact on the level of inflation. The findings of study show that the policy makers need critically evaluate and monitor the levels of money supply in Kenya so as to ensure a stable retail price levels. The findings also support the use 91-day Treasury bills rate in monitoring the level of prices because it has a significant effect on the level of Inflation in Kenya.
CBK, CBR, CRR, CPI, GDP, KNBS, MPC, OMOFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2542
Recently, the most successful companies in the world display the importance of knowledge based economy. The transformation from industrial economy to knowledge based economy highlights value added of intangible assets to the companies. Brand as a worthwhile intangible asset constitutes a substantial part of firm value. However lots of studies conducted to measure brand’s value solely. There hasn’t been generally accepted brand valuation model yet. In this paper it is aimed to present the most important factors in measuring brand value based on the Analytic Hierarchy Process. According to the expert team’s responses to our questionnaire the financial and behavioral factors which can affect brand value were found and prioritized. As a result it is determined that the most important factor in brand valuation in the frame of main criteria is Investment in Brand with 0,47 while in general; it is RandD Costs with 0,1893 and Takeover Costs with 0,1852 as the second. On the other hand, Rise in Ratio of Price/Sale and Rise in Net Sales are not considerably important with weights less than 1% on brand valuation.
Brand value, brand valuation, Analytic Hierarchy Process (AHP), Consumer Based Brand Valuation, Financial Based Brand ValuationFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2574
This paper aims to scrutinise the association between the internal audit effectiveness and the four factors associated with International Standards for Professional Practice of Internal Auditing (ISPPIA): independence of internal auditors, scope of internal auditors, management support, and audited cooperation. The relationship between these factors and Satisfaction of internal auditors is also examined. Further, the moderating effect on the relationship between these factors (if present) and the effectiveness of IA among industrial SMEs in Kuwait are investigated through satisfaction of internal auditors. By ascertaining the effectiveness of IA at the industrial firms via theories as well as variables, this paper broadens the available literature on the effectiveness of IA.
Internal audit effectiveness, satisfaction of internal auditors, Kuwaiti Industrial SMEsFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2577
The debate on the effectiveness of fiscal policy as a tool for promoting growth and development remains inconclusive given the positions of economic theories as well as conflicting results of past studies. This study sought to determine the effect of fiscal policy variables on the economic growth of sub-Saharan African countries. The ex-post facto research design was adopted which enabled the study to make use of secondary data from sub-Saharan African Countries in a panel least squares. The result of the linearly modelled hypotheses tested using the panel data estimation technique under the fixed-effect assumptions revealed that Government productive and unproductive expenditures, distortionary tax (a proportional tax on output at rate) and non-distortionary taxes have significant effects on the economic growth of sub-Saharan African countries. Findings also revealed that budget balances of sub-Saharan African countries have a positive but insignificant effect on the economic growth of sub-Saharan African countries.
Fiscal Policy, Economic Growth, Government Expenditure, Taxation, Fiscal BalancesFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2587
Thousands of people have been affected by major disasters in countries across the world over the last decades. Many governmental and non-governmental organizations participated in aid actions just after disasters. But, they could not prevent inabilities in taking action due to the magnitude of the disaster. Humanitarian aid organizations, like the others, should identify their targets and its priorities with selecting key performance measurements. Humanitarian logistics may use indicators based on both physical and non-physical dimensions. In this study, Balanced Scorecard approach is recommended as a suitable performance management system to develop and improve in managing of humanitarian aid logistics. This conceptual study contributes literature by proposing key performance indicators (KPI) for humanitarian logistics.
Disaster, humanitarian logistics, balanced scorecard, KPIFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2588
Poverty magnifies the need for health care while at the same time shrinking the capacity to finance it. The purpose of this study was to identify the sources of finance available to hospitals in Ghana and challenges they face in access finance from these sources. Goaso Municipal hospital was purposively selected for the study. Questionnaire was used to solicit information from the respondents while descriptive statistics aided the data analysis. The study found that government subvention, National Health Insurance Claims and internally generated funds are the main sources of finance to the hospital. The study also revealed that the key challenges faced by the hospital with regards to financing are the delays in accessing National Health Insurance claim and government subventions. It is therefore recommended that National Health Insurance should reimburse the hospital promptly to improve the health care delivery. Moreover, the government must separate hospital financing from public spending via earmarked budgets to avoid annual public spending negotiations for government subventions.
Hospital Financing, Sources Of Finance, Health Workers, Public Hospitals, Rural GhanaFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2589
This study examines the existence of January effect in four Arabic market indices for the recent time period, February 1988 to May 2014. These market indices include Jordan, Egypt, Lebanon and Morocco. Using the OLS and GARCH (1, 1) approach, the results of this paper indicate that January returns provide positive profits and highly statistical significant, especially in Jordanian and Moroccan market indices. For the Egyptian and Lebanese market indices, the current study documents a large economic profit in January month. These results are useful to investors who can formulate their investment strategies accordingly. This study is the first to conduct a comprehensive January effect analysis of four Arabic market indices in an emerging stock market. The results of this paper support literature that indicates the presence of the January effect in market indices returns and it is still providing a serious challenge to the efficient market hypothesis.
Efficient market hypothesis, January effect, monthly effect, Amman Stock Exchange (ASE)Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2590
This paper examines the presence of momentum profits in the Arabic market indices for the period of January 1989 through August 2013. Also, momentum portfolios are divided into two components depending on past long-term performance produces early and late-stage momentum strategies. This paper confirms that the momentum profits are present and they are statistically or economically significant in 10 Arabic market indices over all formation periods. Thus, to reap the benefit of such profit opportunities, an investor has to sell and buy a past short-term loser portfolio and short-term winner portfolio, respectively. In regard to the relative merits of the pure and both early and late-stage momentum strategies, the late-stage momentum method consistently generates stronger evidence of momentum. It appears that the late-stage momentum strategy utilizes past long-term performance to better identify those indices that are continuing the short-term performances, while the early-stage momentum strategy doesn’t provide any profits.
Momentum Profits, Late-Stage, Early-Stage, Arabic Market Indices, StrategyFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2591
Before a Member State can adopt the euro, it must fulfil certain economic and legal criteria. The economic convergence criteria are designed to ensure that a Member State's economy is sufficiently prepared for adopting the single currency and can integrate easily into the monetary regime of the euro area. Replacement of national currencies with the euro is a complex operation requiring numerous practical training – for example to provide guarantees that the national currency is withdrawn quickly, that prices of goods are properly converted and presented and that the population is well informed. All these preparations are based on a certain "scenario of transition to the single currency" adopted by the candidate country to the euro zone. Through this article we wanted to present an analysis of the convergence economic indicators of Romania and some countries of the European Union, based on data extracted from the Convergence Report in June 2016 and we presented the convergence program in 2016 -2019 regarding the monetary policy and the exchange rate.
Convergence Criteria, Nominal Convergence, Real Convergence, Convergence Economic Indicators, Convergence Program, Monetary policyFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2612
The study aimed to study impact of Electronic Service Quality on Customers Satisfaction of Islamic Banks in Jordan. The Electronic Service Quality represented by (Reliability, Ease of use, Effectiveness, Web Site Design, privacy, and Responsiveness). The population of the study consisted customers of Islamic banks in the North territory of Jordan (Jordanian Islamic Bank, International Arab Islamic Bank), a random sample was taken amounted (300) participants, SPSS was used to examine the study hypotheses and achieve its objectives. The researcher found that there is statistical significant impact of the Electronic Service Quality (Ease of use, Web Site Design, privacy, and Responsiveness) on Customers Satisfaction of Islamic Banks in Jordan. Regarding the dimensions of reliability and effectiveness, the study indicates that they had insignificant impact on Customers Satisfaction. The researcher recommended the use of specialists in the field of electronic sites design in particular, because the site attractiveness needs experience sufficient experience in this area to support its attractiveness for customers, and to benefit from the experiences of the developed countries in the field of software technology control and protection of customer information, in order to strengthen current Software application to those banks.
Electronic Service Quality, customers satisfaction, Islamic Banks in JordanFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2613
Sweeping inflation across the globe and historical high domestic inflation that reached two digits in Malaysia in 1974. Also, warning from Wall Street Journal of growing domestic debt and newly defined external debt starting year 2014 call forth this paper to examine the dynamic relationship between inflation, external debt, domestic debt and exchange rate for Malaysia covering the period of 1960-2014. This article used exploratory data analysis, Johansen cointegration test, and Granger causality test. The exploratory data analysis show that domestic debt and external debt have a strong positive association with inflation, meanwhile a weak positive association between exchange rate and inflation. The cointegration test indicates that there is one long run relationship. In Malaysia, inflation found to granger caused domestic debt, exchange rate granger caused inflation, and domestic debt granger caused exchange rate. A unidirectional relationship found for external debt and exchange rate. In short run, external debt is influencing inflation significantly. Observing the heightening level of external debt by IMF redefinition, external debt caused exchange rate will then lead to inflation. In the long run, the exchange rate is influencing inflation significantly. Hence, policy makers need to formulate appropriate and prudent policy, especially in the high inflation period as the impact of exchange rate during inflation period will be stronger.
Inflation, domestic debt, external debt, exchange rate, MalaysiaFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2624
The main aim of this study is to research the reasons of why academicians working in a university of Northern Cyprus use internet banking. According to research findings the most important elements on internet banking usage are “Using at all hours of the day, 7/24 access”, “Saving of time”, “Speed of transactions”, “Not waiting in front of the bank or ATM”, “Ease of use compared to branch banks”, “The ease of seeing all data about transactions”, and “Being satisfied with internet banking transaction system”. When elements in the scale are categorised into smaller groups called factors only one factor named as convenience is reported to have explanatory power on internet banking usage.
Internet banking, perceptions of academicians, satisfaction, Northern CyprusFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2625
The purpose of the present study is to trace the conceptual evolutionary path of theories and philosophies on Corporate Social Responsibility (CSR) and to reflect on the implications of the development. The study reported a conceptual shift with respect to CSR, as that concept was first appeared as Corporate Responsibility which was viewed as an implicit relationship between organizations and its society. The study also found a shift with respect to philosophical underpinning the engagement on CSR practices. Furthermore, the study revealed a great shift in focus throughout the years from profit maximization being the exclusive objective of business organisations to social and environmental practices being integrated within companies’ operations. The findings help provide more understanding of how this area of research is moving forward. The results should, therefore, be of interest to regulators and standard-setters charged with developing regulations to control CSR, as these practices are still voluntary in nature by companies.
CSR, Conceptual Shift, Theoretical And Philosophical DevelopmentFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2626
In this paper, the authors describe the core evolution of Romania’s national economy. The main indicator taken into consideration is the Gross Domestic Product and the analysis is focused on the overall evolution of this measure, the dynamics as influenced by the categories of resources, the impact of the utilization categories, the formation of GDP depending on ownership forms – public and private. Other aspects evaluated are the direct foreign investments (as measure of the attractiveness of the Romanian economy), the indices of production in industry and agriculture (as measures of the performance of the industry and agriculture sectors), the investments in constructions (emphasized as one of the factor of economic growth before 2008) and the production of services (the services are an important factor of the Romanian economy.
Gross Domestic Product, resources, evolution, investments, industry, agricultureFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2627
The static growth of foreign direct investment since 2006 and current growth per capita of 3.11% in 2015 about 4.89% in 1980 spark a growing interest in the role of monetary policy. The unexplored causal relationship between monetary policy, unemployment, foreign direct investment and economic growth in Malaysia represents a zone of the request, as it could spell issues for these countries in their arrangement in accomplishing growth per capita. This study plan to examine the dynamic relationship between monetary policy and economic growth for Malaysia during 1980-2015. It contended that presence of the structural break in the data generating process prompts to size distortion and false conclusion in the ADF model (Perron, 1989 and Lee and Strazicich, 2003). Henceforth, this study begins with testing for stationarity properties which consider structural breaks notwithstanding the conventional ADF test. We agree with the monetarist that changes in the money supply do not affect real variables over the long haul as no evidence of causality from inflation to output nor any causality from money supply to price level from this study. Instead of the money supply, results from VAR Granger Causality found that interest rate observed to granger caused growth per capita, money supply, inflation, unemployment and foreign direct investment. This study demonstrates that changing approach of monetary policy in Malaysia from monetary targeting to interest rates targeting, in fact, a fruitful execution. We found evidence of bidirectional causality between unemployment and growth per capita in this study also in line with Mohd Noor et al., (2007). Here, we propose that Malaysia needs to elevate foreign direct investment in term of expanding growth per capita as upheld by the result of VAR granger causality where foreign direct investment found to granger caused unemployment and growth.
Monetary policy; Economic Growth; causality; structural break; VAR; MalaysiaFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2634
Employee turnover is very costly for organizations. Apart from costs related to hiring of new employees, loss of experienced personnel may lead to a variety of problems in organizations such as decrease in productivity, loss of hard-won expertise, and low employee morale. Therefore, organizations are very interested in factors related to turnover of their employees so that they can take measures to lower turnover rate. In this study, based on data from 151 accounting professionals, we studied factors related to turnover intention of accounting professionals in Turkey. As a result of the study, we found that supervisory behavior, compensation and benefits, and work-life balance are factors that have statistically significant negative effects on the turnover intention of accounting professionals. On the other hand, work attributes don’t have a statistically significant effect on turnover intention. Moreover, turnover intention of accounting professionals change based on marital status and age. But gender doesn’t influence turnover intention.
Turnover Intention, Accounting Professional, AccountingFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2648
Successful companies practice supply chain management and logistics management to reduce costs, increase their competitiveness and enhance operational efficiency. The logistics in modern business conditions coordinates and integrates the movement of materials and products from physical, organizational and information aspect. This research aims to analyze the impact of company’s logistics management including transportation, warehousing, packaging, inventory and information management to the efficiency and effectiveness. Reducing cost of each logistics activity influences the total amount of costs and enhances company’s performance. This paper determines and defines the logistics activities that are of key importance to the company’s success. The empirical research is conducted on a sample of eighty examinees from eighty different companies in the Republic of Macedonia. The general hypothesis is fully validated and proven by the survey results. Adequate inventory, storage, warehousing, transport and information management are key targets for logistics managers in order to reduce the overall costs of the company. Findings include the confirmation of the necessity of logistics managers to optimally manage all logistics activities in order to gain increased business efficiency, customer satisfaction and competitiveness.
Supply chain, competitive advantage, customer satisfaction, effectivnessFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2649
Tax compliance has been a problem in many developing countries. Even though various mechanisms have been adopted to enhance compliance among tax payers, the success has not yet been achieved. The focus of this study is to access approaches on how to promote voluntary compliance among taxpayers in developing countries specific case of Tanzania. The study adopted cross sectional research design whereby a cross-sectional survey and descriptive analytical methods were adopted. Both primary and secondary data were collected and analysed. The study found that in order for the small tax payers to comply voluntary with tax laws and regulations; the government should focus on the use of information technology communicating i.e. mobile phones; reduction in tax rate to minimize tax burden; increase accountability and transparency among tax authority officials. The study recommendation include: Improvement of tax-education to improve understanding between government and taxpayers in all tax matters, preparation of motivating mechanisms to influence the small tax payers to participate fully in paying tax voluntarily, adoption effective tax collection methods and proper utilization of collected revenues, improvement of social services, increase in tax knowledge to both small taxpayers and tax officials, frequently training of tax officials and tax payers education to increase transparency and accountability. Through the study recommendations will improve the Tanzania’s government strategies in enhancing small tax payers’ voluntary tax compliance.
Tax Compliance, Developing Countries, Tanzania, Small TaxpayersFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2687
The objective of this article is to highlight the importance of internal control and anti-fraud control in institutions that implements and manages European funds. Internal control has a determining role within organizations and in particular in the framework of the European project as an effective internal control exercise leads to the prevention of irregularities and fraud. The complexity of the activities of European organisations and projects necessary to exercise internal control which has beneficial effects including the national economy from the perspective of reducing or even eliminating tax evasion.
Internal control, fraud, irregularity, European projectsFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2700
The study aimed to measure the impact of Environmental analysis on the competitive Capabilities of the commercial banks operating in Jordan. The study population consisted of the general managers, and their assistant of the commercial banks operating in Jordan that amount (10) banks that estimated (93) managers. The Unit of Analysis included the whole population that estimated (93) managers. To achieve the objectives of the study, statistical analytical method was used through A questionnaire that used a major tool for data collection developed at the hands of elite researchers and writers in the field of management, which consisted of (51) items. A number of statistical tools and methods were used such as Mean, Standard Deviation, and Multiple Regression. After the analysis of the collected data and hypotheses, the result of the study showed that there was a significant impact of Environmental analysis represented by (strength, weakness, threats and opportunity) on the competitive Capabilities of the commercial banks operating in Jordan at level (a £ 0.05). Based on the study results the researcher recommends the banks manager to concentrate on the study and analysis of information as one of the most important sources of competitiveness and to make interest how to reduce costs as reflected in the price of the service provided.
Environmental Analysis, Competitive Capabilities, Commercial Banks, JordanFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2701
Forming an opinion about the ability of a government of any State to honor its financial obligations in the long term, raise the issue of fiscal sustainability. This subject involves analysis of the main elements useful in maintaining macroeconomic stability, fiscal sustainability. In essence, government options in terms of fiscal policy developments affecting the fiscal deficit, indebtedness and ability to mobilize the necessary financial resources coatings, respectively refina??rii these indicators. In this paper, the study of fiscal sustainability is focused primarily on countries outside the euro area; highlighting the extent to which they, by applying their own national tax systems are consistent with the overall objective of the European Commission, recently said the "Europe 2020 Strategy".
Fiscal Sustainability, Structural Balance, Revenues, ExpenditureFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2703
This study shall determine the economic performance of the entity in charge of mining – energy southwest region. Thus, the scientific approach is focused on the overall analysis of the financial position of the organization that operates the largest lignite deposit in Romania and contributes to ensuring the stability of the national energy system. This is an analysis of the patrimonial assets and liabilities and of the liquidity and solvency of the organization in the reference period. In this study we intend to get results that can be exploited by decision makers in the energy sector to improve the financial position of the organization with clear and strong future prospects.
Financial Position, Economic Performance, Patrimonial Elements, Profit, InvestmentFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2704
Capital market has been playing a vital role by managing fund and capital of corporation through its operations. There are many factors within capital market and outside of it, which are influencing the performance and development for functioning properly a business domain. It helps the corporations to source their capital and perform based on their business operation. In this way, capital market performance highly related to the macroeconomic factors along with its internal factors. This paper examines the institutional and macroeconomic determinants of stock market performance using data in the last 20 years starting from 1995 to 2015. In this paper, Gross Domestic Product (GDP), Consumer Price Index (CPI), inflation rate and Foreign Direct Investment (FDI) inflows were used as the proxy of macroeconomic determinants, whereas market capitalization, total issued capital and market turnover of Dhaka Stock Exchange were the proxy of institutional determinants of capital market performance. To identify the determinants and their significance in capital market development, both descriptive and inferential statistics are used. Descriptive statistics shows the trends and characteristics of the variables, while inferential statistics reveals the strengths of independent variable to influence the dependent variable. In the findings, both institutional and macroeconomic variable significantly influence the capital market performance. Categorically, CPI and GDP as macroeconomic determinants and Total Market Capitalization as institutional determinant found significant based on their coefficient value in the ordinary least square multiple regression analysis. These findings may become a useful input to design policies and strategies for stabilizing and stimulating the capital market in Bangladesh, especially, Dhaka Stock Exchange (DSE).
Capital markets, Dhaka Stock Exchange, Market Performance, Macroeconomic VariablesFull Text :PDF DOI: 10.6007/IJARAFMS/v7-i1/2705