International Journal of Academic Research in Accounting, Finance and Management Sciences


Volume 7, issue 3 (July, 2017)

Investment Needs to Achieve Sustainable Healthcare Goals in India
Author(s): Imran Khan      Pages: [1-5]

United Nations formulated Sustainable Development Goals focusing from education to water and sanitation, from child mortality to maternal health. The responsibility of member nations is to focus on the goal related to partnerships. The partnership between different actors is necessary to finance developmental projects at global and local level. In this earnest, this paper is an attempt to discuss the avenues which can channelize finances and foster partnership between public and private for the much neglected health care system in India.


Health care, investment, sustainable

Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i3/3049
The Effect of Migration on Labor Resources
Author(s): Constantin ANGHELACHE, Madalina – Gabriela ANGHEL, Alina – Georgiana SOLOMON      Pages: [6-13]

International migration is a complex phenomenon that can be detected throughout the history of mankind, manifested in varying degrees of intensity, being generated by welfare and development disparities between different regions of the world (EU, 2008). The realities of the last decades, namely the globalization of the world economy, the intensification of the armed conflicts, as well as the economic-regional integration are the main factors that contributed to the quantitative and qualitative remodeling of the international migration. The issue of international migration is not only an economic subject but also a social, cultural and political one, with multiple implications not only on the country of origin but also on the receiving country. Public authorities are not only concerned with the effects of the intensive migration but also with the costs that this phenomenon entails, which affect both the countries of origin and the recipient countries. International events over the last decades have generated not only the phenomenon of voluntary migration caused by job search or economic reasons, but also by forced migration generated by natural phenomena such as political, religious disasters, persecution, or wars. This generates new challenges for public authorities to find solutions to mitigate the negative effects and potentiate the positive effects of international migration.


Migration, Population, Economic Integration, Growth Factor, Migratory Movement Of The Population

Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i3/3050

This study investigates the challenges facing the internal audit function in Microfinance banks and how such challenges can be ameliorated to enable it play a more effective role in risk management. A survey research design was adopted for this study. Our population consists of 72 micro finance banks operating in Anambra State,South-East, Nigeria. A sample of 18 banks was selected for the study. The instrument of data collection was a structured questionnaire served on 135 employees of the banks. Descriptive statistics were used to analyse the responses. Our findings include that lack of access to relevant information constitute the greatest set back to internal auditors in their role in risk management. Lack of adequate training was also another major impediment. We recommend unfettered access to information, constant training and retraining for internal audit staff and demarcation of clear lines of responsibility, and reporting to top management by the internal audit.


Internal Audit Effectiveness, Empowerment, Risk Management, Corporate Governance

Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i3/3051
Analysis of the Relationships between Financing and Value of Companies in Tehran Stock Exchange
Author(s): Mahdi HAJIAN, Fatemeh OGHBAEE, Fatemeh SEPEHRI      Pages: [24-37]

One of the duties in trading department is to improve the efficiency of the property structure, the debts and salary of the stockholders in order to maximize their wealth. Managers of trading department carry out this duty by making right decisions in respect to investment, financing and the profit sharing. On the other hand, the investment decisions and financing are connected to financial and operational risks. Therefore, managers should proceed the way that they can both maximize the value of the company and avoid the adverse results of taking risks. To investigate the effect of investing decisions and financing of managers on the value of the company, the information of 75 companies have been gathered during the time span of five years (1386 to 1391). To analyze the information, Spearman correlation coefficient and regression statistical method of panel data (4) are used to determine the relations between the variables. The findings are indicative of the fact that there is statistical significance and the inverse relationship between financial leverage and the ratio of book value to market capitalization. In other words, increase in financial leverage raise the value of the company. In addition, there is no statistical significance and inverse relationship between book value and market capitalization and financial decisions of managers cannot influence the value of company.


Operational risk, financial risk, ratio of book value to stock market capitalization

Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i3/3099
Theoretical Elements on the Use of Price Indices for Inflation Measurement
Author(s): Madalina-Gabriela ANGHEL, Georgeta LIXANDRU, Marius POPOVICI, Alina – Georgiana SOLOMON, Emilia STANCIU      Pages: [38-47]

In this article, the authors aim to highlight the main theoretical elements that are required when using price indices to measure inflation. It is known that inflation is changing prices over a period of time. In common terms, inflation appears simplified as a consumer price index. Of course, the consumer price index is an index that, taking into account the price change for the three groups of goods and services (food, non-food or services), gives a size that is close to the inflation index. Inflation, however, measures the evolution of all products and services in a country. That is why we take into account the change in the prices of the national economy in ensuring a true inflation calculation. The indices calculated for price changes are important because they are used in the deflation operation that determines the actual expression of the indicators. Deflatory indices as a measure of inflation are, in fact, price indices, although they are calculated in different forms and normally have a different content. In this article, the authors study the key elements of calculating and then applying the index or inflation rate to deflating the macroeconomic outcomes indicators. On this basis, deflated indices ensure real comparability both internally and comparability by obtaining another set of indicators internationally. The elements to be considered are outlined in this article and are edifying from the point of view of how price indices reflect the magnitude of inflation.


Value indicator, deflation, controlled prices, consumer price index, harmonized price index, inflation

Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i3/3100
Exploring the Motivation behind Leakage of Internal Audit Reports (Whistle Blowing) in the Public Sector in Kenya
Author(s): Charles Guandaru KAMAU, Samuel Nduati KARIUKI, David Nandasaba MUSUYA      Pages: [48-57]

The objective of this study was to explore the various motivators behind leakage of internal audit reports in public sector in Kenya. Leakage of information was considered as a mild act of whistleblowing. This study made use of primary data obtained from 23 internal auditors randomly selected from the public sector. The relevant data was analyzed using descriptive statistics and also subjected to Pearson coefficient of correlation and multiple linear regression analysis techniques. The results obtained by the study indicate that there was a significant influence of staff dissatisfaction, compensation, reporting structures, policy framework, public protection and personal conviction on information leakage in the public sector in Kenya. However, reputation, management commitment and accountability enforcement were found to be insignificant motivators behind information leakage.


Information leakage, whistleblowing, internal audit reports, public sector

Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i3/3101

The aim of this research paper was to approach the impact of brand experiences, brand equity and corporate branding on brand loyalty. The sample of this research consisted of 413 employees selected on a random basis from 10 Jordanian companies. A questionnaire-based survey was used in order to collect the required data. The research model consisted of three independent variables (brand experiences, brand equity and corporate branding) and one dependent variable (brand loyalty). Brand experiences were divided into three sub-dimensions: brand sensory experience, brand affective experience significantly and brand cognitive experience. Brand equity was sectioned into seven factors: perceived quality, staff behavior, ideal self-congruence, life style-congruence, environment, trust and brand identification. On the other hand, corporate branding was studied in terms of corporate associations, corporate activities, corporate values, corporate personalities, and functional benefits. All dimensions included in this research were measured using a valid and reliable questionnaire developed based on a deep literature review. The results of this research confirmed positive as well as significant effects of all independent dimensions on brand loyalty, except sensory and cognitive experiences. The main contribution of this paper can been seen in closing the gap in research in favor of the impact of brand experiences, brand equity and corporate branding on brand loyalty in Jordanian companies as well assign identifying that Jordanian customers are mainly focused on affective experience of a brand rather than on sensory or cognitive experiences. Managers and researchers can benefit from this research by utilizing such concepts to enhance brand loyalty and conducting further studies to explore other factors critical factors that might improve brand loyalty. The major limitation of this research is related to the sample region since it was conducted in two cities only. Future research should consider other companies and employees form other governorates in Jordan.


Brand Experience, Brand Equity, Corporate Branding, Brand Loyalty

Full Text :PDF DOI: 10.6007/IJARAFMS/v7-i3/3102