International Journal of Academic Research in Accounting, Finance and Management Sciences

14-32

Authors: Afshin Najafgholi DOUST, Asgar PAKMARAM

The establishment of appropriate corporate governance mechanisms is a basic measure for the efficient use of resources, improvement of accountability, transparency, observance of fairness and the rights of all stakeholders of the company. Each of the intra and inter organizational mechanisms monitor the processes and activities of the company and improve the accountability to achieve the other strategic objectives of the company. One of these mechanisms is the institutional investors and state ownership. The purpose of this study was to evaluate the effect of governmental ownership on the investment decisions of managers in companies listed in Tehran Stock Exchange. In this study, three aspects of managers’ investment decisions including investment policy, dividend policy and financing policy are used. This study in terms of purpose is applied and in terms of methodology is causal and correlational and finally in terms of tense is ex post facto. Target population of the study includes companies listed in Tehran Stock Exchange. By using systematic elimination sampling, 102 companies during 7 years, i.e. 714 firm-years, are included in the statistical population of the study. The study period is from 2008 to 2014. To test the hypotheses, the linear regression model and ordinary least squares method were used. The results show that state ownership has a significant effect on the investment decisions of managers in all dimensions except investment policy so that it has a significant negative impact on managers’ financing policy and in contrast the state ownership has a significant positive impact on dividend policy. Other findings showed that the company's size has a significant positive impact on managers’ decision about dividend policy and financing. Return on assets has a significant positive impact on dividend policy and in contrast the rate of return on assets has a significant positive impact on financing policy. However, no significant impact was observed in the control variables of company’s size and return on assets on the investment decisions of managers. The operating cash flow has a significant positive impact on the investment decisions of managers and has also a significant positive impact on managers’ financing policy but no significant effect was observed on managers’ financing policy.

42-49

Authors: Musibau Akintunde AJAGBE, Olatunji FADEYI, Abimbola ADEGBUYI, Adunola Oluremi OKE, David T. ISIAVWE

This main purpose of this study is to investigate the role of entrepreneurship in building a future for Nigeria. This study examines existing literatures on the model of entrepreneurial action that takes its point of departure in entrepreneurs’ experiences of risk-taking, opportunity identification and the role of self. By focusing on what entrepreneurs experience as relevant aspects of their life worlds, the goal is to attain a better understanding of the drivers and motivations of venture creation and development. The study adopts a descriptive survey, that is, questionnaire based technique to sample opinion and derive answers to the problem identified in the literature review section. The data employed for the study was primary data and secondary data. The primary data were responses gathered from employees through the administration of questionnaires while the secondary data includes the information gathered from journals, textbooks, articles and internet sources. Business owners (i.e. both small and medium enterprises) currently operating within Lagos metropolis were randomly selected to participate in the study. The research instruments used for this study were standardized questionnaire derived from journals that are related to the topic of study and they were formulated based on the variables available in the research topic. The data collected were analyzed using percentages, graphical representations, and pie charts. The findings from this study revealed that there is significant relationship between entrepreneurship development and unemployment reduction in Nigeria. In addition, there is a significant relationship between commercial banks giving preferential treatment to small and medium sized firm’s proprietorship.

58-65

Authors: Andreea-Gabriela BALTAC

t This article highlights the financial analysis of the evolution of a company through the key indicators involved. For this we watched a firm financial evolution of Romania and its main financial over 11 years. The study investigated virtually throughout the entity was based on an analysis of the financial indicators in the period 2004-2014 in Transgaz S.A. The objectives of this analysis are to determine the main financial indicators that lead to obtaining high economic performance. I used this method to analyze data when investigating entity because we wanted to emphasize financial evolution in full economic and financial crisis (2008), the methods for recovery post-crisis analysis of the company's evolution and its future prospects.

71-76

Authors: Ligia PRODAN

The interest of this article is the research of the final consumption in Romania, during 1990-2014. The article analyzes the final consumption correlated with the evolution of households and government consumption. To study the correlation between the three variables, the article suggests using multifactor model to explain the variation in final consumption based on the simultaneous influence of the two indicators mentioned above. In this model the final consumption is considered as a resultative variable and the households and government consumption as factorial variables. Data on a yearly frequency was used covering the period 1990-2014 and to ensure comparability of data we have it deflated, taking as a basis 1990.

83-90

Authors: Maryam Golkhatmi BIDGOLI, Aghdas SAADATI, Amin ASGHARI, Masoomeh SAADATI, Alireza GHODSI, Azam Golkhatmi BIDGOLI

This study, in addition to identifying the different dimensions of organizational justice and discovering the relationship between these dimensions and organizational commitment and staff’s job satisfaction, is closely related to the strength and weakness of justice components. In this descriptive-analytical study, all personnel of Medical Science School of Neyshabur and all its subordinate hospital have been participated consisting 263 subjects. The statistical sample has been gathered in span of two months from June 2014. Questionnaires based on demographic information, Rego and Cunha’s organizational justice, Allen and Meyer’s organizational commitment have been used to gather and deduce data. Finally, data have been analyzed by the advance SPSS software. The outcomes of this analysis reveal that there is a close and significant relationship between organizational justice and organizational commitment; hence, it is suggested that managers to establish organizational justice should encourage employees based on certain criteria of performance management through meritocracy, respecting individuals rights, avoiding discrimination, providing equal opportunities for staff development to create more intimacy and friendship atmosphere and reciprocal respect and relationship between staffs and managers.

100-107

Authors: Bashar Abu KHALAF, Hadeel YASEEN, Ghassan OMET

The primary aim of this paper is to measure competitiveness in the Jordanian banking sector. In addition, this paper examines the competitive dynamics in this sector. Based on panel data analysis and the time period 2000-2014, the estimation results indicate that Jordanian banks operate under monopolistic conditions and this has not changed during the period of the study. Naturally, the findings of this paper have a number of implications. This is based on the literature which argues that bank competition influences, for example, real economic growth, manufacturing productivity growth, and the lending channel of banks.

116-132

Authors: E.O. Marfo, L. Chen, H. Xuhua, H.A. Antwi, E. Yiranbon

This study analyzes the relationship between corporate social responsibility (CSR) and company’s profitability (CP) in Ghana with the utilization of mixed data, obtained from sixteen (16) firms' audited annual report and financial statements between "2005-2014", filed with the Ghana stock Exchange (GSE) and Register General of companies. We use lagged data from the Ghana Investment Promotion Centre(GIPC) to establish the relationship between CP and CSR. In addition 850 questionnaires were administered to the public for CSR level of awareness data. The data collected are being analyzed by the use of Ordinary Least Square (OLS) for the study. Results from the analysis demonstrated that the selected companies have contributed below ten percent of their yearly profit to support social responsibility programmes. The co-efficient of determination of the findings demonstrates the extracts that the logical variable account for changes or varieties in chosen companies’ profits after tax (PAT) are brought about by changes in corporate social responsibility (CSR) in Ghana. It is then prescribes that regulations and laws to commit companies’ to be apparent, satisfactory consideration ought to be given to social accounting regarding social cost and to agree to the establishment of corporate social responsibility.

139-148

Authors: Letitia-Maria ROF, Sorinel CAPUSNEANU

This article highlights the increasing performances as result of implementation stages of the ActivityBased Costing in the companies operating in the energy sector in Romania. There are presented some aspects of the usefulness of applying the Activity-Based Costing in the energy sector and the advantages it offers compared to traditional costing. There are also outlined the steps for applying the Activity-Based Costing and its implementation in the largest hydropower producer in Romania. The article concludes with the implementation results of Activity-Based Costing and the authors’ conclusions on the usefulness of its application for increasing performances within specific energy companies.

158-166

Authors: Saira AJAZ, Babak MEHMOOD

Banking sector in Pakistan has progressed and reached its boom phase but the sector is facing the challenges of turnover. No doubt, several studies are devoted to identify an employee’s intent-to-quit in the banking sector of Pakistan, but most of them have ignored the role of female employees. That’s why the primary objective of the current study is to identify the quit intentions of female bankers in banking sector of Pakistan. Intent to quit (ITQ) has been tested empirically for its association with four dimensions of job satisfaction which are satisfaction with compensation, supervisor’s behavior, co-workers’ behavior and working conditions. Data is collected from the female employees of six commercial banks of Faisalabad, Pakistan by using a structured questionnaire which is adoptive in nature. A total of 230 questionnaire were distributed out of which 200 returned, representing response rate of 87%. The overall model found to be significant and 10% variation in study variable is explained by the predictors. The results of regression & correlation analysis showed that intent-to-quit is negatively and significantly associated with compensation, supervisor’s behavior and co-workers’ behavior. The study has also proposed some valuable recommendations for HR managers and policy makers to retain female workers in banks.

178-182

Authors: Fardin MEHRABIAN, Nehzat ANSARI

Wide offer of life insurance is one of the most important factors in promoting and increasing social welfare level. People are not more familiar about the cultural factors, economical factors and geographical factors in insurance industry. This research investigated three factors such as economical and cultural and geographical factors in Guilan. The research statistical society includes Asia insurances companies in Guilan province. For sample size, we used of random sampling method and sample size is determined 212 numbers. To investigate the validity of study, we used of single dimension method and exploratory factor analysis method and confirmatory factor analysis method. To final assess we used of kronbakh test. Data are used of inferential statistical techniques and structural equations are used of LISREL software and collected data were analyzed by SPSs software. Every three hypotheses have been rewired and approved. On the basis of achieved results, we can say that insurance is an facility not only for future economic losses compensation diverging from incidents with future supple ion but also improves living levels and it helps to develop economic of society and can provide comfort to the members of the community.