Finance

The territory of Republic of Armenia is considered as a high-risk zone of agricultural production. According to approximate calculations, damage to agriculture as a result of natural disasters in various years reaches 15-20 billion AMD (410 AMD=1$ USA), while in most disastrous year it also exceeds. Given these circumstances, we come to the conclusion that the agricultural sector is needed to establish on effective system of insurance, in addition to the process of insurance provided by the state’s direct participation in the process of implementation of agricultural insurance. In our opinion, the agricultural insurance will significantly contribute to the guaranteed production of the agricultural products, will reduce agricultural losses, will minimize the degree of risks, which will stimulate the development of this sector.

The aim of this study is to find out the effect of leverages on the profitability of the company. This research is conducted on the cement sector of Pakistan from 2009 to 2015. Degree of financial leverage (DFL) and degree of operating leverage (DOL) are representative of systematic risk and return on assets (ROA) and return on equity (ROE) as the measure of the profitability. Two models are built to find out the relation between systematic risks with profitability. OLS approach is used in the study. It is found that there is both negative and positive relationship exist within the two models ROA, DFL and DOL and ROE, DFL and DOL respectively.

This study examined the effect of bank credit to the private sector on economic growth in Nigeria using data on Gross Domestic Product (GDP) and bank credit to private sector (BCPS). Inflation and interest rates were included in the study as control variables. All data were obtained from Central Bank of Nigeria (CBN) statistical bulletin and span across 1981 to 2010. Data stationarity were ensured using the Augmented Dickey Fuller (ADF) statistic, while the OLS were applied to ascertain the impact of bank credit to the private sector on economic growth. Results of the analysis showed that bank credit to private sectors has a statistical strong positive relationship with GDP and that as expected, bank credit to the private sector has statistically significant effect on economic growth. The paper recommends that the CBN should lower its minimum rediscount rate to a moderate level that will enable banks fix low interest rates on their loanable funds while adopting direct credit control to favour preferred sectors like Agriculture and manufacturing. Finally, monetary authorities should through monetary policy reduce legal reserves requirement for banks to enable the banking sector to create more credit for the economy. This will enhance investment, job and employment opportunities which on the other hand will boast economic growth in the country.

With increasing development companies around the world, our country Iran is not an exception and keep pace with this development according to the conditions prevailing in different fields expanded, The telecommunications compliance with Article 44 of the constitution And move towards privatization of the state monopoly in the This leads to emerging operators with strong potential for the days that involved the complex challenge This development has lagged behind and competitive with others in order to survive in the market are at an acceptable level of service to its customer’s In this regard, in addition to rely on the equipment and infrastructure facilities need a strong financial system for the preparation of financial information for users outside the organization Such as the tax country or shareholders and a strong financial system for the management of the company are domestic users For the analysis of financial data to make better decisions than the development or production of certain outdated act according to its earnings In addition to pricing and decisions regarding the production and sale to a financial system warning that the value of finished goods is needed Because the value of finished products in different times and conditions may differ In this regard, due to the lack of Production system cost in telecommunications company we decided to design cost model is based on the financial coding system that includes all Specific, detailed and coding functions to achieve cost in different areas of the province, So in various parts of the cost of the product to be obtained separately.

This part of the book is the summary that highlightsin briefly the overall five chapters of the book. Most previous researchers have concentrated on examining, investigating and describing the behavior of Business Enterprises in practicing financial management.Although they provided much descriptive and empirical evidence on financial management practices, it appears that there are still some gaps in the literature which need to be addressed.Previous researchers focus on investigating and describing financial management practices, but there has been little research examining the effect of financial management practices on business profitability. to achieve this objective this book focused on four variablesby targeting selected SMEs in Mogadishu. These four variablesare; to investigate the effects of working capital management on profitability, to investigate the effects of financial planning management on profitability, to investigate the effects of financial literacy on profitability and to investigate the effects of resource allocation on profitability of small businesses in Mogadishu Somalia. The target population of this study was150 SMEs operating in Mogadishu, howlwdag district in bakaro market. Stratified random sampling technique was used since the population consists of managers, owners and employees. The sample size of this study contained 109 of the owners, managers and employees of SMEs. This study used a questionnaire to collect data.Data was analyzed using Statistical Package for Social Sciences (SPSS) version 22.0, which is a software tool for data analysis.Data collected was purely quantitative and it was analyzed using descriptive analysis. Regression analysis was used to come up with the model. The study used a multiple regression equation. Implementing efficiently and effectively financial management practices through employing financial manager practitioners or training and developing the old ones bring SMEs to be profitable.Most problem faced SMEs was they lack enough financial management practices that could made possible all the financial transactions, investments and financing decisions to line in order to reach financial objectives of the business. The finding of the study reveals that only few owners and managers have proper financial management practices and able their business to be profitable. The study findings established that there was a positive relationship (R= 0.991) between the variables. The study also revealed that 98.2% of profitability in the SMEs could be explained by the variables under study. The recommending SMEs’ owners/managers should employ financial management practices to increase profitability of their business.

This paper investigates Electronic Human Resource Management (e-HRMs) strategy and organizational success in Nigeria. The objective of this paper is to empirically investigate into the nature of Electronic Human Resource Management Strategy and to examine if organizations in Nigeria actually benefit from its use. EHRMS help organizations achieve competitive success through strategic people. Such requires a fundamental strategic change in how managers think about organization’s workforce and how they view the work relationship. Data were obtained from 10 organizations constituting 100 Human Resources Managers of both government and private sector businesses, all in Rivers State of Nigeria. Data obtained from the field were analyzed using Multiple Regression Statistical Techniques. The paper finds that there is a significant relationship between the rotational e-HRMS and productivity improvements. This paper further revealed that there is an inverse relationship between relational e-HRMs and cost reductions. The paper recommends that organizations in Nigeria whether small or large should learn to engage the use of web-based technology to facilitate human resource processes; the application of the web-based technology will assist the corporation in reducing costs. Keywords: e-HRMs, Relational e-HRMs, Productivity Improvements, Cost Reductions, Transformation e – HRMs, Operational e-HRMs.

Goods and Service Tax (herein after referred as ‘GST’) is a new revelation that is soon to make its appearance in Indian Indirect Tax Regime. The Goods and Services Tax (GST) is a value added tax to be implemented in India, the decision on which is pending. GST is the only indirect tax that directly affects all sectors and sections of our economy. Goods and Services Tax -- GST -- is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. In this paper we try to attempt to get detailed knowledge about GST , the reasons of introducing GST, know the challenges and threats in imposing GST, see the current status of GST in India, opportunities it will provide to economy, industry exporter, company and government and Shortcomings of GST. The analysis shows that GST is a necessary condition if the country has to go back to double digit GDP growth. GST is a better approach of charging tax on goods & service as problem which is present in the current indirect tax system can be avoided by adopting GST.IT is likely to improve tax collections and boost India’s economic development by breaking tax barriers between States and integrating India through a uniform tax rate. GST is an improvement over VAT & service tax but it is also having some flaws.

Abstract After the corporate default of major corporations in the past years such as Enron Lehman Brothers etc the study has been a major area for research the default of US based giants has act as a distress and alarming situation for emerging economies with different areas of research regarding corporate defaults this paper focuses on examining the relationship of ownership structure with the performance of a firm through market performance ratios and firms volume of publically listed companies on Malaysian stock exchanges. Results suggested defaulted firms ownership concentration is unable to show significant relationship with the performance of these firms except for the major shareholder. Keywords: concentration of shares, corporate default, firm performance

The exchange rate or Inter Bank Rate of Indian Rupee (INR) is considered as one of the major economic factor to determine Indian economic position. There are various Economic factors and parameters which influence the Inter Bank Rates (IBR) and alter its parity with different currencies. This study is done to analyse the various Economic factors and Parameters that influencing the IBR. This study involves analysis of 4 major Economic factors and parameters which are related to IBR. All the parameters taken under study are analysed using suitable analyzing tools and the influence over the IBR is studied. This study is done to understand the fluctuations in USD/INR IBR rates on Quarterly basis for 5years from 2007 to 2011. The four parameters taken under study is analyzed using Karl Pearson’s Coefficient of Correlation and Regression Analysis with IBR rates collected during respective years.

This study presents the impact of board governance mechanism on share repurchase for Malaysian listed companies by using the pooled panel data analysis for a period of six years (2005 to 2010). The result shows that foreign board member, board independent and total remuneration play a significant role in influencing Malaysian companies toward share repurchase.