Current Issue : April - June Volume : 2018 Issue Number : 2 Articles : 5 Articles
This study investigated the relationship between board structure and financial performance of\nlisted finance companies in Sri Lanka. Data were gathered from the financial statements of\nrandomly selected 20 finance companies which are listed on CSE under Bank, Finance and\nInsurance Sector for the period of 2011-2015. Financial performance was measured by return\non assets (ROA). Board size, female board members, CEO duality, and non-executive\ndirectors were considered as the parameters of board structure. Furthermore market\ncapitalization was taken as the control variable. Pooled OLS was performed using STATA\nfor the analysis of data. Results of the study revealed that board size and non-executive\ndirectors had significant relationship with ROA. Besides, female board and CEO duality were\nnot significantly related to ROA. This study may helpful for the practitioners and policy\nmakers to maximize the profit. Moreover, analyzing the relationship between board structure\nand financial performance of firms offering non-financial services can also be a worthwhile\nresearch....
This study intends to confirm whether the banks in Yemen adhere to international laws and\nprocedures on anti-money laundering. We used primary data and descriptive analytical\nmethods. The research encompasses 11 banks located in the Yemeni capital of ââ?¬Å?Sanaââ?¬â?¢aââ?¬Â . The\ntotal number of branches used as study sample is 60. The analysis reveals that most Yemeni\nbanks adhere to international laws and regulations on anti-money laundering. We recommend\nconducting further studies on the topic including its effect on financial results, the influence\nof the technological system, further controls needed in the country....
As the business environment continues to be influenced by stakeholder forces, including\nsustainability reporting and sustainable operations, a question that continues to be asked is if\nsuch a mindset delivers financial returns. While there is increased interest and attention on the\nareas of sustainability reporting and financial returns, quantitatively addressing this question\nis a complicated task. Leveraging the proliferation of ETFs, this analysis compares the\nperformance of the S&P 500 ESG Factor Weighted Index versus the S&P 500 during the\nperiod 2014-2016. As business decisions are driven in large part by the financial performance\nof the organizations, this research is applicable to both practitioner and academic members of\nthe accounting community. Additionally, the second aspect of this research attempts to\nestablish a connection between sustainability, integrated reporting, and begin the analysis\nwhether or not there appears to be a connection between performance and integrated\nreporting....
The stock market is one of the most energetic sectors that play an important role in\ncontributing to the wealth of the economy. It plays a crucial role in the economic growth and\ndevelopment of an economy which would benefit industries, trade and commerce as a whole.\nThe aim of this study is to investigate the impact of macroeconomic variables on stock\nmarket returns in Sri Lanka. Dependent variable of this study is stock market return measured\nby All Share Price Index (ASPI) and All Share Total Return Index (ASTRI) and independent\nvariables are macroeconomic variables, such as Interest Rate (IR), Inflation Rate (INF),\nExchange Rate (ER), Factory Industry Production Index (FIPI) and money supply (MS).\nThe study targets all the companies listed and active in Colombo Stock Exchange (CSE) from\n2006 to 2015. For analysis, secondary data was collected from annual reports of Central bank\nof Sri Lanka, Colombo Stock Exchange, Securities and Exchange Commission and\nDepartment of Census and Statistics. The results of the study reveal that the stock market\nreturns is influenced by macroeconomic variables except money supply in Sri Lanka. Interest\nrate and factory industry production have negative influence on stock market return in\nColombo Stock exchange while inflation rate and exchange rate have positive influence on\nstock market return. The findings of the study may be useful to public and economy\nespecially stock market investors to focus the macroeconomic variables for making their\neffective decisions in order to enhance their stock market returns....
Until the end of the 1980s, the activity of accounting standardization was strictly national for\ntax and legal reasons. This conception or logic was revised in the last quarter of the twentieth\ncentury following the globalization of the economy and the intensification of the international\nmarket/stock exchanges. Indeed, the multitude of accounting standards urged investors to\nspend an enormous amount of time understanding them before analyzing the economic\nsituation of the countries in which they wanted to invest. Several organizations were therefore\nset up to develop international accounting standards.\nThe purpose of this article is to present the results of an empirical study using companies\nlisted on the Casablanca Stock Exchanges (CSE), to measure the relationship between the\nvalues under International Financial Reporting Standards (IFRS) and those under the General\nCode of Accounting Standardization (GCAS) on the Moroccan financial market.\nThe results show that the values of the accounting and financial information under the\ninternational reference \"IFRS\" are in common evolution with the values of accounting and\nfinancial information under the national reference \"GCAS\"....
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