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Journal of Business & Financial Affairs

ISSN: 2167-0234

Open Access

Current Issue

Volume 10, Issue 1 (2021)

    Research Article Pages: 1 - 6

    The Mediating Effect of Firm Performance on the Relationship between Ownership Structure Dimensions and Corporate Social Responsibility Disclosure by Firms Listed in Nairobi Securities Exchange, Kenya

    Ariko John Namoit*, Josephat Cheboi Yegon and Michael Korir

    Firm performance is one of the most important concepts of business strategy. Regardless of its importance and ubiquitous use, there is no consensus about its precise definition and dimensionality. This paper examined the mediating effect firm performance on the relationship between firms’ ownership structure and its disclosure of CSR activities. Firm performance was proxied by return on assets. Ownership structure dimensions are managerial, institutional, foreign and ownership concentration. The paper employed Barron and Kenny mediation procedure. The results showed that firm performance mediated positively the relationship between managerial, institutional and ownership concentration and the corporate social responsibility disclosure at coefficient’s 0.165, 0.025 and 0.024, respectively. Further, there was negative (-0.001) mediation effect on the relation between foreign ownership and the corporate social responsibility disclosure. The form of mediation was partial mediation. The positive relationship suggests that for a company to engage and disclose its CSR activities, performance plays a critical role. It confirms that firms with a better firm financial performance leads to better quality CSR reporting and that the older the companies compounded with stable financial performance the more aggressive they participate in the CSR activities. Firms need to utilize various risk management practices such as identification, analysis, monitoring and evaluations of the firm activities to enhance efficiency in firm performance and in return engage and disclose more on CSR issues. This may be achieved through establishment and implementation of risk identification, monitoring and evaluation policy framework which significantly influence firm performance and thereby enhances shareholder capabilities to identify, analyze and evaluate all risks that hinder the institutions from achieving its objectives. 

    Research Article Pages: 1 - 9

    The Impact of Trade Facilitation on Trade Flow in Asian Countries

    Waqas Ali* and Nadia Shakoor

    The study estimates the relationship between trade facilitation indicators and trade flow in Asian countries. It prioritizes the main trade facilitation determinants that need to be improved for the faster and more international trade flow. The study consists of Asian countries based on main trade facilitation variables such as tariffs, time to import/ export and cost to import/export, population, ICT. The study consist on secondary data and most of the data obtained from the World Bank doing business and economic development database and used 44 Asian countries in sample. In this study we have used fixed and random affect methodology for estimation and then uses Husman test to choose between fixed and random affect results. The obtained results shows the significant impact on imports and exports volume and it clarify that tariff and number of documents to import and export has negative affect on trade flow. A one percent change in tariff rates can affect the trade flow with 6% negatively. So for the cheaper and maximum trade flow, tariff must be brought to minimum level while the number of documents has much more affect than tariff as it shows one percent change in number of documents affects with 25% exports and 6% on imports flow negatively. That is why the number of documents should be reduced to the minimum level too. But for ICT, human capital and customs shows a positive relationship with trade flow. According to this study’s results it shows that 1% improvement in ICT can increase the imports and exports by 5%. The same way trade infrastructure is most important determinant of trade facilitation, It is because infrastructure includes both time and cost, the cheaper and faster trade flow become more beneficial for both of the trading partners. The results suggest 1% reduction in trade costs results in 20% increase in imports and 16% increase in exports. And 1% reduction in time can affect the imports with 8% and exports with 14%. 

    Editorial Note Pages: 1 - 1

    Editorial Note on Business marketing and Consumer market.

    Jasneeth som*

      

    Research Article Pages: 1 - 10

    Assessing the Effects of Financial Liberalization and Global Financial Crisis on Stock Market Volatility: Evidence from Smooth-Transition GARCH Models

    Emna Bensethom*

    The aim of this paper is to study the potential effects of liberalization process and global financial crisis on conditional volatility. Our sample comprises three Asian emerging markets (Philippines, Korea and Indonesia) over the period from December 1987 to September 2014.Using the ST-GARCH models, our findings show several interesting facts. First, the ST-GARCH processes perform better than the linear GARCH models, since they take into consideration the regime changes in the conditional volatility. Moreover, these models are able to absorb the nonlinear dependence and the asymmetric effects detected on the residuals. Second, whatever the nonlinear model used (ST-GARCH models), financial liberalization has reduced the conditional volatility. By cons, the global financial crisis has increased the conditional variance of the Asian stock markets. Overall, our results confirm that Asian region cannot fully benefit from financial liberalization, because the negative effects of these crises (notably in terms of financial instability) can minimize the benefits of this process (integration). 

    Volume 10, Issue 2 (2021)

      Editorial Pages: 1 - 1

      Financial Report

      Yagnes M Dalvadi

      Budget summaries or Financial reports are formal records of the monetary exercises and position of a business, individual, or other substance. Pertinent monetary data is introduced in an organized way and in a structure which is straightforward. They regularly incorporate four fundamental budget summaries joined by an administration conversation and examination. The goal of fiscal summaries is to give data about the monetary position, execution and changes in monetary situation of an undertaking that is helpful to a wide scope of clients in settling on financial choices. Budget reports ought to be justifiable, pertinent, solid and tantamount. Detailed resources, liabilities, value, pay and costs are straightforwardly identified with an association's monetary position

      Editorial Pages: 1 - 1

      Financial Systems and Banking

      Salvador Climent Serrano

      A Financial framework is a framework that permits the trading of assets between monetary market members like banks, financial backers, and borrowers. Monetary frameworks work at public and worldwide levels. Financial Institutions comprise of complex, firmly related administrations, markets, and organizations proposed to give a productive and standard linkage among financial backers and investors. As such, monetary frameworks can be known any place there exists the trading of a monetary medium cash while there is a redistribution of assets into penniless territories monetary business sectors, business firms, banks to use the capability of ideal cash and spot it being used to receive benefits in return. This entire component is known as a monetary framework

      Editorial Pages: 1 - 1

      Applied Econometrics

      Chien-Chiang Lee

      Econometrics is the use of factual techniques to monetary information to give experimental substance to financial connections. All the more correctly, it is the quantitative examination of genuine financial wonders dependent on the simultaneous advancement of hypothesis and perception, related by fitting techniques for inference.An early on financial matters course reading portrays econometrics as permitting business analysts to filter through piles of information to separate basic relationships.The initially know utilization of the term econometrics in related structure was by Polish market analyst Pawe┼? Ciompa in 1910 Jan Tinbergen is considered by numerous individuals to be one of the establishing fathers of econometrics. Ragnar Frisch is credited with authoring the term in the sense in which today is utilized. An essential apparatus for econometrics is the different straight relapse model.Econometric hypothesis utilizes factual hypothesis and numerical measurements to assess and create econometric techniques

      Editorial Pages: 1 - 1

      Marketing and Accounting

      Rajender Kumar

      Although accounting departments and marketing departments are separate and distinct, they must work together to monitor sales trends and to manage the effectiveness of marketing campaigns. When the two departments work collaboratively, sales trends are tracked, marketing campaigns are budgeted wisely, resources are allocated efficiently, and the business runs more smoothly.Accounting departments and marketing departments are connected in that an accounting department determines a business's financial condition, which in turn gives a marketing department a budget in which to operate. By keeping track of sales trends, accounting departments inform senior management as to whether the business can allocate more to marketing Every business has some type of accounting system that monitors the business's financial well-being.

      Commentry Pages: 1 - 1

      Business administration

      Mahmoud Mourad

      Business organization is the organization of a business undertaking. It incorporates all parts of administering and regulating business tasks. According to the perspective of the executives and initiative, it likewise covers handle that incorporate place of business organization, bookkeeping, account, planning, improvement, quality affirmation, information examination, deals, project the board, data innovation thexecutives, innovative work, and promoting. The organization of a business incorporates the presentation or the board of business tasks and dynamic, just as the productive association of individuals and different assets to coordinate exercises towards shared objectives and goals. In general,administration to the more extensive administration work, including the related money, faculty and MIS administrations. Organization can allude to the administrative or operational presentation of routine office undertakings, generally inside arranged and receptive as opposed to proactive.

      Volume 10, Issue 3 (2021)

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