Current Issue : October - December Volume : 2015 Issue Number : 4 Articles : 5 Articles
In this study we use two models for the measuring of financial status of the non-financial\nfirms which are listed in the Karachi Stock Exchange. The Non-financial companies represent\nthe biggest slice at the Karachi Stock Exchange. The non-financial companies of Pakistan are\nthe total population and sample size is 25 higher and 25 lower capital companies. The technique which used in this study was Convenience sampling technique and all 50\nnon-financial listed companies at KSE were included to gain deeper insights into this study.\nThe State Bank of Pakistan shows balance sheet analyses of companies, for compiling of data\nfinancial reports were used for the years 2007 to 2012. The results of the study showed that\nAbbas model and Altman�s Z-Score model was a effective tool for checking the financial\nhealth of non-financial companies listed at Karachi stock exchange. This study further\nexplores that lower capital firm have more financially distressed companies as compare to\nhigh capital non-financial companies listed at KSE....
The paper examines CSR disclosures by commercial banks operating in Mauritius. Annual\nreports for the year 2011 were scrutinized using content analysis. Five categories of\ndisclosure were chosen in line with the Code of corporate governance and prior studies. Due\nto the small number (20) of banks operating in the country all banks were selected. Findings\nshow that banks with higher visibility disclose more CSR information thus confirming that the\nlegitimacy theory is an explanation for CSR disclosure by Mauritian banks. CSR reporting is\nprevalent among all banks but forty percent of banks disclose CSR information relating to\none category only showing a narrow view of CSR. The primary area of disclosure is ââ?¬Ë?Human\nresourcesââ?¬â?¢ which is at odds with previous studies. The paper contributes to the scarce\nliterature on CSR disclosures by banks in a developing country....
This study is designed to examine empirically the impact of exchange rate on the stability of\ndemand for money in Nigeria where official and black market exchange rates operate side by\nside due to exchange controls. Variants of money demand model are estimated using monthly\ndata for the period of 2005-2013. Cointegration and system equation techniques combined\nwith CUSUM and CUSUMSQ tests are employed in the data analysis. Results indicate that in\nall the variants of the money demand model, coefficients of exchange rates variable (official\nor black market exchange rates) manifest significant t statistics, meaning that the null\nhypothesis of restricting the coefficients of exchange rates in money demand model in\nNigeria is rejected for each variant. This suggests that coefficient of exchange rates variable\n(OMEXR or BMEXR) belongs to the cointegrating space in all the instances. Judging from\nthe freakiness of the coefficients of the variants of the money demand function and the results\nof the tests for stability of the models combined, the most appropriate demand for money\nfunction for Nigeria appear to be the one that includes M1, the interest rate, inflation rate, and\nofficial exchange rate. This implies that in Nigeria, a greater percentage of the foreign\nexchange demand may be public sector driven and substantial percentage of the private sector\nforeign exchange needs is sourced from the official exchange rate market due to the\nsubstantial disparity between the two rates. This may mean consumers� easy access to official\nexchange rate and transparency in the operation of official exchange rate market in Nigeria....
This study investigates the relationship between daily US presidential election poll results\nand stock returns. The sample consists of the daily presidential election polls published in the\nNew-York Times for the period between May 31 and November 5, 2012. They include the\npercentage of support for the Democratic candidate, Barack Obama, and the Republican\ncandidate, Mitt Romney. The findings indicate that stock returns are positively related to the\npoll results that support the candidate favored to win the election....
After decades of success in the global banking industry, the Royal Bank of Scotland fell to\nthe brink of its collapse in 2008 owing to the recent global financial crisis that entirely shook\nthe financial sector of the United Kingdom. The man whose leadership was once\nacknowledged for the remarkable success of the bank, former CEO Sir Fred Goodwin, was\nheld entirely responsible for the collapse owing to his decisions of hostile acquisition of the\nABN-Amro bank and pushing the banking industry into ââ?¬Ë?filthyââ?¬â?¢ executive pay and bonus\nculture. The case study will review the evidence from 2000-2009 to discuss the rise and fall\nof the royal bank in the light of the corporate governance failures during the difficult times of\nglobal recession....
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