Finance

This study empirically investigates the extent of relationship between accounting information system and performance of selected companies in Nigeria. A total of 140 questionnaires were administered out of which 128 respondents returned theirs which represents 91% response rate considered adequate for this study. The Spearman’s Rank Correlation Coefficient statistical technique was employed for this study and used to test the hypotheses. The two hypotheses tested in this study revealed that accounting information has a significant relationship with the performance of companies in Nigeria. Based on this finding, the study recommends that Companies should constantly embrace the ever unfolding trend in accounting information systems as it is capable of enhancing the performance of companies. Since Accounting and Finance Departments are the two key departments which are the sources through which accounting information is implemented and used for effective and efficient management of finances of every company, management should organize regular training and re-training of the staff and expose them to the current demand and realities of accounting information systems. Keywords: Accounting information system, Performance of Companies.

The main purpose of investors from investing in the stock of companies is “wealth increase” which this is achieved through "stock return". Stock return is one of the most important factors in choosing the best investment. Therefore, each investor in their best choice, in order to be able to achieve stock with more efficiently and less risk, need information about that stock. This study investigated the correlation coefficient P / E as a measure of performance evaluation index companies listed in Tehran Stock Exchange in the automotive and construction segments Tobin Q is the current version. The study Listed Companies the Tehran Stock Exchange There are parts in the automotive industry. The population size was 33 companies Among the 24 companies in deletion (Census sampling) have been selected. Hypotheses have been proposed, using multiple linear regression method and Pearson correlation test were the results of the three hypotheses indicate that the ratio P / E and versions of conventional Q Tobin (Qs, Q-LR and CP-Q) in the automotive industry during 2001 to 2004 there was no correlation of construction components.

In Nigeria credit has been recognized as an essential tool for promoting Small and Medium Enterprises since over 70 percent of the population are engaged in the informal sector. Thus, the government have recognized that for sustainable growth and development, the financial empowerment of the rural areas is vital being repository of SMEs. It is against this background that this paper seeks to examine the impact of commercial banks activities on SMEs in Nigeria Consistent with the objective, hypothesis was formulated. The population and the sample of the study were all the Commercial banks in Nigeria. The study utilized data from secondary source. Data were obtained from the Central Bank of Nigeria’s (CBN) Statistical bulletin. The time frame for the study is eighteen (18) years, covering the period of 1993 to 2010. The technique of analysis used in testing the data was Linear Regression Analysis. We concluded that even though commercial banks activities such as giving out loans and receiving deposits have positive impact on SMEs, there is room for the Commercial banks to gear more of its activities towards SMEs development in Nigeria. The study calls on appropriate authority such as the government to ensure the consistency of policies that will enhance SMEs development. Similarly, the Regulatory Authority and the Bankers Committee should encourage activities by Commercial banks to provide adequate funding to SMEs through SMEEIS.

The Ghanaian economy appears to be in a certain cycle of high lending and low borrowing rates culminating in wide interest rate spreads. A number of studies point to the fact that the spread between the lending rates and borrowing rates is too wide to promote efficient financial intermediation between savers and borrowers but failed to look at macroeconomics effect on the interest rate spread in Ghana. This study contributes to the discussion by evaluating the macroeconomic variables (factors) that affect the interest rate spread with a view to determining their short term and long term relationships for policy recommendations that will serve the interest of all stake holders in the financial services sector and the general Ghanaian economy. Using autoregressive distributed lag (ARDL) cointegration and Vector Error Correction analysis, we observed both short-run and long run relationship between identified macroeconomics variables and interest rate spread in Ghana. The study recommend that, government borrowing, interest and inflation rate are kept low while pursuing policies that maximise savings.

In this paper, we investigate the relationship between financial development and economic growth in the emerging economies. We explore the effects of financial liberalization and the impact of financial development on economic growth in the emerging economies. Financial liberalization creates market-based incentives that promote economic growth, (Davies, 2010).This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. It describes the role of financial system development in economic growth at the macro level, both theoretically and empirically. It also describes briefly the relationship of corporate finance and firm performance. According to these discussions, the nature of casualty between the two was established. On the other hand, there is a very common view that financial development is significant and provides to economic growth popularly known as supply lending activity. Equally, there is an order following the belief which states that economic growth stimulates the progress of the financial sector. In addition, researchers state that a pointer association exists between financial development and economic growth. Due to the argument surrounding the link between the two, a group of researchers has subjected the financial growth link to experimental proof. However, despite their efforts, a gap remains in the literature. These results from the fact that very few studies have given attention to the stage development theory, developed by Patrick in nineteen sixty six, where the direction of casualty between the two variables changes over the course of development. The scarcity of experimental studies on Patrick’s theory may be due to limitation of information. It finally concludes the review and presents some policy implications in view of the reviewed literature. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research.

The word ethics borrowed from Greek means spirit of culture. According to Oxford dictionary, it is a moral principle that governs or influences a person’s behavior. Ethics are the fundamental principle in any organization and these are the foundations for the survival and success of business concern. Many organizations develop a code of conduct for their employees; such codes are after prescriptive and set out specific guidelines for their employee’s conduct. In India, there are many scripture’s like Vedas, The Gita and The Ramayana. The ideals contained in these scriptures are universally applicable and there are no contradictions to them. Our Vedas and post Vedic concepts have a lot to contribute in management practices. In companies such as Enron, World Com, Satyam Computers and the most of late dotcoms. Now the management has taken steps to enrich the total personality of the employees, who are treated more as associates in the organization rather than mere instruments of production. This paper is an attempt to describe some of the basic principles of ethics, which are mostly concerned in managing accounting in the business world.

The role of corporate board of directors in aligning the interest of diverse groups, ensuring discipline and effectiveness among board members cannot be over emphasised, although there are limited empirical investigations on African firms and Nigeria in particular about the nature of the relationship between board variables and firms financial performances. This study apply Pearson correlation and regression analyses to examined the relationship between board composition (proportion of; non-executive directors, executive directors and women directors) and corporate financial performance for a sample of commercial banks in Nigeria. Using two financial performance indicators; return on asset and return on equity from 2008-2012, the study find out that board composition as defined above is not related to corporate financial performance.

The scourge of poverty and the rate at which the figure is growing has necessitated the establishment of many anti-poverty programmes by different administrations in Nigeria. As at 2010 the number of Nigerians living below poverty line stood at 72 million, this then means that nearly half of Nigeria Population of 160 million is living below poverty line with all the anti-poverty programmes put in place. This figure is still on the increase. Microfinance Banking is the most recent and the only anti-poverty programme that combines financial intermediation with provision of financial services to the poor in the society. This paper therefore examined the role of Microfinance Bank’s operations on poverty alleviation in Nigeria. Data for the study were generated via secondary sources. The study built a regression model in line with the hypotheses. SPSS package version 17.0 was used. We tested for and corrected Autocorrelation and Muiticoliinearity. Our findings were as follows: the operations of MFBs have played significant role in poverty reduction in Nigeria, loans and advances of MFBs have significant negative impact on poverty alleviation. Some of our of our findings were in agreement with the objectives of MFB, while those that were not in agreement reflect the peculiar circumstances of the operations of microfinance banking in Nigeria. Since the government of Nigeria is interested in alleviating poverty, this work will be of immense help. The government can support Microfinance development by promoting macroeconomic stability, and avoiding interest rate caps and high inflation, ensure that the benefits of Microfinance banking are targeted at the core poor.

During 1993-1997, the policy of dual containment was selected by Clinton’s administration to prevent Iran and Iraq from any action jeopardizing the interests of the international community especially the United State of America. The new policy of dual containment was the result of the new world order in which the U.S. found itself as the hub of the new world after the collapse of the Soviet Union. Also, this new policy put away the balance of power policy that was the main policy of previous American administrations which had sought a balance of power between Iran and Iraq in order to contain these two nations from any aggression to the global peace and security.

The study investigates the nature and extent of causal relationship between government expenditure and inflation rate in a 42-year period (1970-2011).Times series data obtained from the Central Bank's statistical bulletin of relevant years are analysed using descriptive(graphs and charts) and inferential(correlation,stationarity, Johansen's cointegration test and Granger causality test) analysis.The variables are stationary,weakly and inversely correlated and show longrun relationship.However,they did not granger-cause each other implying that there exists no pairwise causal relationship between them. We recommend appropriate fiscal-monetary policy mix,redirecting government expenditure to productive channels in the economy and maintaing a strategic balance between capital and recurrent expenditure. Key Words: Government Expenditure;Inflation Rate;Pair-wise causal relationship; Granger causality test.