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The Role of Human Resource Costing in Assisting Investors to Appraise the Human Assets of a Business Enterprise
Alnasser Nabil Mahmoud,
Shaban Osama Samih,
Atieh Abdallah K
Issue:
Volume 2, Issue 2, April 2014
Pages:
117-122
Received:
29 January 2014
Published:
10 March 2014
Abstract: This research study aims to contribute in modifying the current accounting practice through recognizing investments in human resources as an asset cost. The current study try to explain that, the original cost of human resource is the sacrifice that was actually incurred to acquire and develop people. The current accounting practices for human assets causes an important problem to investors and management, because it distorts the measurement of return on investment. The study concluded that in order to apply an actual human resources accounting system, companies should use the human resource costs concepts and measurements techniques in a good and effective manner while planning for its costing system.
Abstract: This research study aims to contribute in modifying the current accounting practice through recognizing investments in human resources as an asset cost. The current study try to explain that, the original cost of human resource is the sacrifice that was actually incurred to acquire and develop people. The current accounting practices for human ass...
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A Study on Analysis of Managerial Attitudes towards ISO 9001: 2008 Quality Management System Introduction and Implementation Process in Sri Lanka
P. M. C. Thilakarathne,
S. K. C. Chithrangani
Issue:
Volume 2, Issue 2, April 2014
Pages:
123-131
Received:
13 January 2014
Published:
10 March 2014
Abstract: ISO certification is expected to help organizations to enhance quality and efficiency, improve communications, achieve competitive advantage and to increase in market share, reduce costs and achieve a high stock price. The successful implementation of the ISO 9001: 2008 quality management system standard depends on how the standard is perceived by the companies, therefore identification of managerial perception for ISO 9001 system is vital. This research paper presents the results of an investigation carried out to identify managerial attitudes towards ISO 9001: 2008 quality management systems. To realize this goal, a sample consisting of 73 managers, representing both top and middle managers were selected from organizations functioning in Sri Lanka, covering all sectors including manufacturing, services, construction and others. Data were gathered using self administered questionnaire, through an email survey. Results indicated that Sri Lankan companies have high level of understanding for the purpose of ISO 9001: 2008 quality management system; by both certified groups for ISO 9001: 2008 and organizations those commenced the quality management system implementation. The main motivating factors behind the implementation of ISO 9001: 2008 quality management system for both certified companies and organizations already commence the implementation are to achieve quality improvement. The second most motivator for certified organization is to meet the corporate objectives. The principle perceived benefits of implementing ISO 9001: 2008 by both groups are customer satisfaction, increase quality awareness and reduces the production time. None of the parameters analyzed for understanding the purposes of selecting ISO 9001 quality management system and motivational factors for seeking certifications were statistically significant in both groups. Furthermore this investigation concluded that there is an impact towards ISO 9001: 2008 quality management systems by both certified organizations and organizations those commenced the quality system implementation in Sri Lanka. In addition to that study reveals that majority of organizations are seeking certifications irrespective of their sector and type of the organizations. Therefore, this research is vital for making policy decisions of organizations those who anticipate to implement quality management systems for their operations in the future.
Abstract: ISO certification is expected to help organizations to enhance quality and efficiency, improve communications, achieve competitive advantage and to increase in market share, reduce costs and achieve a high stock price. The successful implementation of the ISO 9001: 2008 quality management system standard depends on how the standard is perceived by ...
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Exploring Internal Auditor Independence Motivators: Kenyan Perspective
Charles Guandaru Kamau,
Samuel Kariuki Nduati,
Agnes Ndinda Mutiso
Issue:
Volume 2, Issue 2, April 2014
Pages:
132-137
Received:
18 February 2014
Published:
20 March 2014
Abstract: The institute of internal auditors expressed the role of internal audit as that providing objective assurance and consulting services designed to add value and improve an organization’s operations. In performing this role the internal auditors are required by the international standards to exercise professional independence and objectivity. Audit independence means freedom from conditions that threaten mental attitude which is unbiased. The literature suggests several factors which affect the audit independence in Kenya, which are explored in this study. The study collected its data using a self-made questionnaire which was distributed among auditors in Kenya so as to establish the status of internal auditor’s independence in Kenya. The data collected was subjected to multiple regression analysis so as to test hypotheses and make conclusions on internal audit independence and its motivators in Kenya. The study established that that auditor’s involvements in management and audit committee effectiveness, among other factors have significant influence on the internal auditor’s independence in Kenya.
Abstract: The institute of internal auditors expressed the role of internal audit as that providing objective assurance and consulting services designed to add value and improve an organization’s operations. In performing this role the internal auditors are required by the international standards to exercise professional independence and objectivity. Audit i...
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Statistical Characteristics of Jakarta Composite Index (JCI) Dynamics based on Short Term Data Represented in Candles
Pasrun Adam,
La Gubu,
Edi Cahyono Cahyono
Issue:
Volume 2, Issue 2, April 2014
Pages:
138-142
Received:
22 February 2014
Published:
20 March 2014
Abstract: This paper presents the dynamics of Jakarta Composite Index (JCI) where the data were observed daily from January 2008 to October 2012. The data are presented in candle forms, as often used in online trading software. Statistical analysis on the average and the variance is applied on every month candle representations. The average and the standard deviation may vary on each candle, meaning that they depend on time. The average that depends on time indicates a trend of the dynamics. On the other hand, the average and the standard deviation yield the so-called probability density function (pdf) which depends on time called temporal-pdf (t-pdf). The trend and the probability of the dynamics of JCI are implicitly represented in the t-pdf. The t-pdf of the dynamics of JCI is the main concern of this paper. Understanding the t-pdf will help investors deal with the dynamics of JCI.
Abstract: This paper presents the dynamics of Jakarta Composite Index (JCI) where the data were observed daily from January 2008 to October 2012. The data are presented in candle forms, as often used in online trading software. Statistical analysis on the average and the variance is applied on every month candle representations. The average and the standard ...
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Determinants of Risk Tolerance
Issue:
Volume 2, Issue 2, April 2014
Pages:
143-152
Received:
21 February 2014
Published:
30 March 2014
Abstract: Risk aversion is an important factor in explaining many everyday decisions. Thus, one asks which determinants can explain different attitudes towards risk. Several studies show different risk attitudes with respect to gender, age, income, and wealth (e.g. [19]). While these findings are hardly controversial, there is still some uncertainty about the effect of culture on risk tolerance. Thus, the main issue of this survey is to elaborate possible differences in risk preferences that are caused by cultural background. The main question in this context is whether religion or nationality are of importance for explaining risk attitudes. For this purpose, this study employs the German Socio-Economic Panel (GSOEP) to figure out differences in risk attitudes. Another contribution of this article is that is uses a generalized ordered logit model while others use simple linear regression models or simple logit or probit models which are not efficient. The estimations show that the cultural background does indeed have some impact on risk taking behaviour.
Abstract: Risk aversion is an important factor in explaining many everyday decisions. Thus, one asks which determinants can explain different attitudes towards risk. Several studies show different risk attitudes with respect to gender, age, income, and wealth (e.g. [19]). While these findings are hardly controversial, there is still some uncertainty about th...
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Nigeria’s Oil Rent can still Count: Lessons from Kuwait
Olusegun Barnabas Obasaju,
Babatunde Sunday Adekunle,
David Eseosa Obadiaru
Issue:
Volume 2, Issue 2, April 2014
Pages:
153-158
Received:
26 December 2013
Published:
30 March 2014
Abstract: Nigeria and Kuwait were former British colonies, both having oil-based economies with exports of over 2.4 million barrels of oil per day and oil exports accounting for a clear majority of their export earnings. But funnily enough, the standards of living of the citizens of these two are poles apart as Kuwait’s oil rent has been successfully used to benefit its citizens while Nigerians still grapple with low living standards in the midst of plenty. This study employs a comparative approach in assessing the nexus between oil rents and living standards for both countries and seeks to draw the attention of Nigeria to the oil rent distribution channels of Kuwait. The conclusion of the study is that Nigeria can still change the fortunes of her citizenry by tapping into the wealth of knowledge from Kuwait’s oil rent distribution channels.
Abstract: Nigeria and Kuwait were former British colonies, both having oil-based economies with exports of over 2.4 million barrels of oil per day and oil exports accounting for a clear majority of their export earnings. But funnily enough, the standards of living of the citizens of these two are poles apart as Kuwait’s oil rent has been successfully used to...
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Assessing Foreign Exchange Risk Associated to a Public Debt Portfolio in Ghana Using the Value at Risk Technique
Alice Constance Mensah,
Ebenezer Okyere,
Osei Antwi,
Prince Kumi,
Joseph Dadzie,
Martin Owusu Amoamah
Issue:
Volume 2, Issue 2, April 2014
Pages:
159-163
Received:
30 January 2014
Published:
30 March 2014
Abstract: VaR is a potential loss. The VaR methodology gives the definition to risk-based capital, or economic capital and confidence level reflects the risk appetite of the bank. This work is a delta-normal VaR application in the case of the Ghanaian economy. It assesses the exchange risk associated to the Ghana public debt portfolio. We used daily spot exchange rates of the Ghana cedi against the three main currencies, the dollar, the euro and the pound. We are interested in the period from 04/01/2000 to 31/12/2009. We demonstrated that the VaR result is very high and that there is a need for the government to also trade in a currency that can serve as a potential hedge against risk.
Abstract: VaR is a potential loss. The VaR methodology gives the definition to risk-based capital, or economic capital and confidence level reflects the risk appetite of the bank. This work is a delta-normal VaR application in the case of the Ghanaian economy. It assesses the exchange risk associated to the Ghana public debt portfolio. We used daily spot exc...
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Assessing Project Management Maturity in the Area of Knowledge Management in Select Companies
Issue:
Volume 2, Issue 2, April 2014
Pages:
164-170
Received:
7 March 2014
Accepted:
8 April 2014
Published:
10 April 2014
Abstract: Project management is of high significance for companies nowadays. This is of special interest for those organizations which operate in the multi-project environment. For them, it is crucial to find out how good they are at managing projects. To that end, the project management maturity assessment concept was developed. However, getting a picture of the organization is only the first step. The second should be to analyze the results and, based on them, undertake appropriate activities in order to increase efficiency in project management. There are various models of project management maturity (PMM) assessment in different areas. In investigating current management trends, the knowledge management concept is one of the most important ones. Therefore, in author’s opinion the modern PMM model should definitely address the knowledge management area. In the article based on the world-wide empirical study of 400 companies, I discuss the PMM level in the knowledge management area. The assessment was done using the author’s PMM model which measured maturity in four areas: methods and tools, human resources, project environment and knowledge management. The investigated companies were from the machinery, construction and information technology branches. The major research effort was focused on the machinery industry as this sector of the economy is not well recognized in empirical research related to project management. Moreover, the main aim of the study was to compare Polish and foreign companies via an examination of diverse industries. The results of the study revealed that, in general, the foreign companies are at a higher PMM level in the knowledge management area than their Polish counterparts. This difference is discussed in the article. Among the industries, the most mature was information technology and this is also elaborated on. In addition, the study shows that the mean maturity level of all investigated companies is rather small. The reasons for that fact are explained and the implications for the companies are outlined.
Abstract: Project management is of high significance for companies nowadays. This is of special interest for those organizations which operate in the multi-project environment. For them, it is crucial to find out how good they are at managing projects. To that end, the project management maturity assessment concept was developed. However, getting a picture o...
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Stock Market Development and Economic Growth: Empirical Evidence for Emerging Market Economies
Abiy Hailemariam,
Chi Guotai
Issue:
Volume 2, Issue 2, April 2014
Pages:
171-181
Received:
17 March 2014
Accepted:
9 April 2014
Published:
10 April 2014
Abstract: Contemporary economies of developing countries are changing due to rapid changes in the world economy. The economies of emerging market countries are witnessing changes in the composition of capital flows because world stock markets are expanding rapidly. Foreign direct investment and stock market boom are the indicators of the changing world economic order. The objective of this study is to examine the relationship between stock market development and economic Growth. Empirically, based on the data for 17 emerging market and 10 developed market economies during the 12 years’ period, from 2000 - 2011 using the generalized method of momentum (GMM) for dynamic panel data. To control for the country specific effect, the model is further estimated for the developed and emerging member economies. The key findings of the study reveal that there exists statistically significant relationship between stock market development and economic growth both directly, as well as indirectly by boosting investment behavior. The results also indicate robustly that stock market development is an important wheel for economic growth
Abstract: Contemporary economies of developing countries are changing due to rapid changes in the world economy. The economies of emerging market countries are witnessing changes in the composition of capital flows because world stock markets are expanding rapidly. Foreign direct investment and stock market boom are the indicators of the changing world econo...
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Investment in Treasury Bills and Treasury Bonds in 2013: A Study of Bangladesh
Issue:
Volume 2, Issue 2, April 2014
Pages:
182-187
Received:
25 March 2014
Accepted:
11 April 2014
Published:
20 April 2014
Abstract: This paper investigates that the excess investment in Treasury Bills & Treasury Bonds in 2013 in Bangladesh was more profitable than other investment such as loans & advances for Banks (Conventional Commercial Banks) & other Financial Institutions (FIs). In 2013, country's political situation was fully disfavor of real sector investment and Banks did not increase their loans & advances to increase their profitability but Banks had to bear the costing of deposit. So Banks & other FIs suffered from excess liquidity problem. To control the situation Bangladesh Bank (BB) sold more T-Bills & T-Bonds to control the excess liquidity position
Abstract: This paper investigates that the excess investment in Treasury Bills & Treasury Bonds in 2013 in Bangladesh was more profitable than other investment such as loans & advances for Banks (Conventional Commercial Banks) & other Financial Institutions (FIs). In 2013, country's political situation was fully disfavor of real sector investment and Banks d...
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The Impact of Foreign Direct Investment on Capital Formation in Nigeria: A Co-Integration Approach
Ugwuegbe,
Sebastine Ugochukwu,
Modebe,
Nwanneka Judith,
Onyeanu Edith
Issue:
Volume 2, Issue 2, April 2014
Pages:
188-196
Received:
5 January 2014
Accepted:
16 April 2014
Published:
20 April 2014
Abstract: In this work, we investigated the impact of FDI on capital accumulation in Nigeria for the period of 1986-2012. The data was generated from CBN statistical bulletin, OLS method of estimation was adopted for the analysis of the data generated. ADF test was applied to determine the stationarity of the variables and all the variables were integrated at order one I(1). The Johanson co-integration test shows the existence of at most 2 co-integrating equation in the model. The ECM indicates that 73.24% of the disequilibrium in the model will be corrected on annual bases. The OLS estimation indicates that FDI, TCR, and INTR positively but insignificantly effect capital formation in the short-run whit GEXP exerting negative effect on GFCF. The result also indicate that in the long-run all the variables included in the model has a positive impact on GFCF with only FDI and TCR exerting a significant impact on capital accumulation in Nigeria for the period under review. There is bidirectional causality between FDI and GFCF. Effort should be made by government to attract more FDI into the country as it has the potential to improve the capital formation in the economy which in the other hand leads to growth in the economy at large. It is also important that government should improve the infrastructural facility in the country as this has a great potential for attracting more FDI into the country. The issue of insecurity should also be addressed without delay if we are to move the economy to the desired direction
Abstract: In this work, we investigated the impact of FDI on capital accumulation in Nigeria for the period of 1986-2012. The data was generated from CBN statistical bulletin, OLS method of estimation was adopted for the analysis of the data generated. ADF test was applied to determine the stationarity of the variables and all the variables were integrated a...
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Productivity and Profitability Analysis of Nationalized Commercial Banks (NCBs) in Bangladesh
Md. Imtiaj Rahman,
Debasish Adhikary,
Salahuddin Yousuf
Issue:
Volume 2, Issue 2, April 2014
Pages:
197-205
Received:
29 March 2014
Accepted:
10 April 2014
Published:
20 April 2014
Abstract: Banks, the leading financial institutions, are the major contributors in the economic & financial development of Bangladesh. Performance of banking sector in Bangladesh has invited a lot of comments in recent years. It is no doubt an important problem. Profitability, productivity and associated risks to these two components are the major criteria for evaluating the performance of banks. In this study, it has been tried to find out the performance of NCBs within a very short period (2008 to 2012). There are four nationalized commercialized banks in Bangladesh. For the convenient of this research study three banks have been taken. The study relies on secondary sources of data. The tables in the study highlights movements of banking variables as reflected in the branch expansion, deposit mobilization, deployment of credit, operational efficiency and relative risk measures. The results so far achieved through ratio analysis are not very encouraging. In the light of this finding, it can be realized that the confidence of the general public, who wants to rely on these NCBs, in the soundness of the banking system, remains unimpaired and the financial strength of the banks gets increased. Also some recommendations are put forward to move in an effective pace with regard to time covering the whole banking system, emphasize more on achieving core objectives
Abstract: Banks, the leading financial institutions, are the major contributors in the economic & financial development of Bangladesh. Performance of banking sector in Bangladesh has invited a lot of comments in recent years. It is no doubt an important problem. Profitability, productivity and associated risks to these two components are the major criteria f...
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