Current Issue : January - March Volume : 2017 Issue Number : 1 Articles : 5 Articles
A quantitative method was used to explore the financial performance of the listed firms on the Kuwait Stock\nExchange. The number of firms explored was 196 out of a possible 206 (two firms are subsidiaries of one of the firm,\nand others are insurance firms excluded). The listed firms were observed from 2009-2014 to understand their status\nin the market, and the direction they are headed towards. The financial data were gathered from the published annual\nreports of the respective firms and the financial statements from the Kuwait Stock Exchange website. The results,\nusing the Altman Z-score model for the period 2009-2014, show that approximately 39.46% of the firms on average\nwere safe; approximately 25.94% of the firms on average were distressed; approximately 15.90% of the firms on\naverage were in a grey area; and approximately 18.71% firms on average had no available data. The bankruptcy rate\ncould not be justified using the Zmijewski score model due to the inconclusive results and the absence of bankruptcy\nlaws in the State of Kuwait. This paper provides insight into the financial distress level in Kuwait. The level of distress\nshows that major changes are necessary within firms and operations are not running smooth. Bankruptcy laws are\nrequired for firms operating in distress. This exploration is a stepping-stone for potential investors by showing the\nmost profitable sectors for investment and for future researchers to predict accurate bankruptcy rates in the State\nof Kuwait....
Due to global financial crisis, around the all over the world all developing and under developing countries are\nfacing the low trading profit. In most of the developing country like Pakistan, there is low investment level due to\npolitical instability. Due to this condition Karachi stock exchange has the worst sell. Karachi stock exchange is known\nas the oldest and more profitable stock exchange of Pakistan. Oil and gold prices are attracting investors towards\nthere not in the stock exchange. This thing is the barrier for the progress of the development of the country. This\npaper is trying to expose that stock market is going to down due to these variables. For checking the impact of oil\nand gold prices on the Karachi stock exchange we have used that secondary data for this study. For this purpose we\nhave taken data from Karachi stock exchanges from the period of 1996 to 2013. We have applies correlation matrix\nfor this purpose. The result has shown that KSE 100 has return is 0.014503 and GDP 0.058793, gold 0.012026 and\noil 0.00919. Karachi stock exchange return has standard value is 0.089982, while gold standard deviation 0.038716\nand oil standard deviation value is 0.103375. The correlations have shown that in these markets there is not positive\nrelationship. Karachi stock exchange and GDP have inverse relationship with gold market. These results have also\nshown that oil growth has a significant relationship with KSE100 and GDP. For the predication correlation is not\nconsidering an authentic measure....
In this study, has been investigated the impact of the financial performance and growth opportunities on\nsuccess or failure of listed companies in The Tehran Stock Exchange. Measures of financial performance (including\nearnings per share, return on equity rate, and return on assets rate), also growth opportunities as the independent\nvariables and success or failure as the dependent variable are considered. The main idea to formulate the hypothesis\nis that there is a significant relationship between the measures of discussed financial performance and growth\nopportunities and success or failure. Studied sample includes 115 listed companies in The Tehran Stock Exchange\nduring the 7-years period (2006-2012). In order to analyze the data, were used Pearson correlation coefficient and\nmultiple regressions. The results showed that there is significant relationship between earnings per share (EPS)\nand the rate of return on assets (ROA) with success or failure, but there is no significant relationship between\nrate of return on equity (ROE) and success or failure, and there is no significant relationship between growth\nopportunities and success or failure....
This study aimed to test the effect of macroeconomic factors on the movements of stock\nprices of Jordanian industrial companies listed in Amman Stock Exchange (ASE) in order to\nprovide empirical evidence about the determinants of the movements of stock prices. To\nachieve this objective, all the 77 Jordanian industrial firms listed at ASE for fifteen years\nfrom 2000 to 2014 have been selected, resulting in 1054 firm-year observations. The\nunbalanced pooled cross-sectional time series multiple least square regression method has\nbeen used to present data analysis. while the experiential results showed significant negative\neffect of two of the macroeconomic factors, namely, interest and inflation rates, on the\nmovements of the Jordanian industrial companies stock prices, results found that the effect of\nmoney supply and GDP on the movements of stock prices were significantly positive. These\nresults are consistent with (Mukherjee and Naka, 1995, Zhao, 1999 & Udegbunam and Eriki,\n2001, Al-Qenae, Li & Wearing, 2002, Dimitrios Tsoukalas, 2003 , Ibrahim 2003; Chaudhuri\nand Smiles, 2004)...
This study aimed to shed light on the dynamics application of accounting standards (IAS/IFRS)\nin measurement with fair value and disclosure in Companies listed on Amman Stock Exchange\n(ASE). The study of population consisted of financial managers amounting (220) manager. A\nquestionnaire was designed and used as a major instrument to collect information. Descriptive\nstudy showed number of findings including: the standards application contribute to creation of\nuniform accounting standards, creation active and semi-active markets, Preparing financial\nstatements with integrated quality characteristics, and it reduce financial crises occurrence and\neconomic risks. In addition, it helps in attracting investments, and it enables local Companies\nto invest in financial markets. In addition, it ensures sufficient disclosure to meet different\nneeds of the beneficiary parties of information, and contributes to improving transparency\nlevel that reflects true economic value of organization. The study provided number of\nrecommendations including, emphasizing the (IAS/IFRS) application importance in\nCompanies listed on (ASE). Qualifying professional accounting staff, and governmental\nagencies that have to support through attracting foreign investment issue laws that encourage\ninvestment. Joint Coordination among Arab countries at Asia Continent level to create an\nactive market in which to fair value can be evaluated....
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