scholarly journals THE MODERATING EFFECT OF SENSITIVITY TO MARKET RISK ON INTERNAL FACTORS AFFECTING FINANCIAL PERFORMANCE OF SAVINGS AND CREDIT SOCIETIES IN KENYA

2017 ◽  
Vol 2 (6) ◽  
pp. 1
Author(s):  
Jane J. Barus ◽  
Prof. Willy Muturi ◽  
Dr. Patrick Kibati ◽  
Dr. Joel Koima
Keyword(s):  
Financial Performance ◽  
Interest Rates ◽  
Market Risk ◽  
Moderating Effect ◽  
P Value ◽  
Unique Contribution ◽  
Linear Regression Models ◽  
Internal Factors ◽  
Macroeconomic Factors ◽  
Factors Affecting

Purpose: The purpose of this study was to establish the moderating effect of sensitivity to market risk on internal factors affecting financial performance of savings and credit societies in Kenya. Methodology: The study employed an explanatory research design. The target population was 83 registered deposit taking SACCO’s in Kenya that have been in operation for the last five years. The sample size for the study was all 83 SACCOs that have remained in existence since 2011-2015. Census methodology was used in the study.  Both primary and secondary sources of data were employed.  Multiple linear regression models were used to analyze the data using statistical package for the social sciences (SPSS) and STATA. Descriptive and inferential analysis was conducted to analyze the data. The data was presented using tables and graphs. Results: The moderation results indicated that the interaction effect of sensitivity to market risk on the relationship between the independent variables (except management efficiency) and dependent variable was significant. Since the calculated p value of the interaction was 0.000<0.05, and thus sensitivity to market risk has a statistical significant moderating effect on internal determinants of financial performance of savings and credit societies in Kenya. Unique contribution to theory, practice and policy: The study recommended that SACCOs should monitor the variations in market risks, especially interest rates and inflation rates. These macroeconomic factors tend fluctuate often and, hence it’s important for the organizations to observe them.

THE RELATIONSHIP BETWEEN OPTIONS DERIVATIVES AND FINANCIAL PERFORMANCE OF SELECTED LISTED COMMERCIAL BANKS IN KENYA

2021 ◽  
Vol 6 (1) ◽  
pp. 54-69
Author(s):  
Philipino Muthine ◽  
Fredrick Mutea ◽  
Ruth Kanyaru
Keyword(s):  
Standard Deviation ◽  
Financial Performance ◽  
Commercial Banks ◽  
Sampling Technique ◽  
P Value ◽  
Unique Contribution ◽  
Linear Regression Models ◽  
Strike Price ◽  
Expiry Date ◽  
The Relationship

Purpose: The purpose of the study was to ascertain the relationship between options derivatives and financial performance of selected listed commercial banks in Kenya. Methodology: Descriptive research design was used when collecting data using closed ended questionnaires from the selected 11 listed commercial banks in Kenya. The target population included 156 respondents who were 25 risk managers, 53 operations managers, 33 credit managers and 45 marketing managers to participate in the study. The study selected all of the 156 respondents through census sampling technique. Pre-test questionnaires was sent to six respondents who were junior officers in risk, credit, operations and marketing departments of non-listed commercial banks in Meru Kenya. The collected data was then coded and analyzed quantitatively using the descriptive statistics such as mean, percentage and standard deviation while inferential statisticsperson correlation analysis were used. Linear regression models were also used. Further on, the tables, graphs were used when indicating the analysis results. Results: Options had a statistically significant relationship with financial performance. Most respondents agreed that there were clear procedures used to solve options price discrepancies. It had a mean of 4.79 and standard deviation of 0.62. However, most respondents disagreed that options derivatives market activities were improving in the banks. It had a mean of 3.85 and standard deviation of 1.05. The results further indicated that options had an R value of .793a and Durbin Watson value of 1.292 showing there was a strong correlation between the two variables, while the R-square was 0.629. This implied that options as a paradigm predicted 62.9% of financial performance variable in this study.Options also had a significant p-value of 0.018. Unique contribution to theory, policy and practice: The results indicated that commercial banks were really incurring more costs as compared to profits generated due to errors made by the employees when engaging in various options derivatives markets. In addition, when financial derivatives owners were given the rights and not forced to purchase or vend an underlying asset at a strike price or exercise price, at or earlier than the expiry date of the options, there was an above average purchase. The study recommends that the bank staff should explain full information on the options derivatives so that when a client is making the purchase, they are well knowledgeable. This knowledge should begin from the procedures followed when making a purchase, sale or transfer of option derivatives in the securities exchange market. In addition, any costs associated with the options derivatives should be fully communicated to clients priorly to avoid premature termination of options derivatives contracts. Further on, there should be more training on banks staffs by the bank management so that they are equipped with knowledge on the specifics of options derivatives trading. By doing so, the chances of errors would be minimized.

scholarly journals Factors affecting spirometry reference range in growing children

2019 ◽  
Vol 35 (6) ◽  
Author(s):  
Sara Sadiq ◽  
Nadeem Ahmed Rizvi ◽  
Fahad Khalid Soleja ◽  
Muaz Abbasi
Keyword(s):  
Reference Range ◽  
Forced Expiratory Volume ◽  
P Value ◽  
Strong Positive Correlation ◽  
Linear Regression Models ◽  
Factors Affecting ◽  
Independent Variables ◽  
Creative Commons ◽  
Forced Expiratory Flow ◽  
Expiratory Flow

Objectives: To find out the association of weight, height and age with spirometry variables and to generate a regression equation by taking weight as an independent variable beside age and height among children and adolescents of Karachi. Methods: A modified form of ISSAC questionnaire was used. The spirometry variables recorded were Forced vital capacity (FVC), Forced expiratory volume in 1 second (FEV1), FEV1/FVC, Peak expiratory flow rate (PEF), Forced expiratory flow between 25% and 75% expired volume (FEF25-75). A person’s correlation coefficient among boys and girls were calculated for all spirometry variable considering age, height and weight as independent variables. The linear regression models were calculated. Results: The results reported a linear correlation of lung function variables with all three independent variables (i.e. p-value = 0.000), in which age and height manifested a strong positive correlation while weight reported a moderately significant correlation. All spirometry variables such as FVC, FEV1, PEF and FEF25-75 reported a significant coefficient of dependency and coefficient of correlation individually with age, height and weight. Conclusion: It is concluded that beside age, height and weight both also have significant correlation with lung volumes so these should be taken into account when using spirometry as a diagnostic test. doi: https://doi.org/10.12669/pjms.35.6.1212 How to cite this:Sadiq S, Rizvi NA, Soleja FK, Abbasi M. Factors affecting spirometry reference range in growing children. Pak J Med Sci. 2019;35(6):1587-1591. doi: https://doi.org/10.12669/pjms.35.6.1212 This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

scholarly journals Factors Affecting Liquidity Risk in the System of Vietnamese Commercial Banks

2014 ◽  
Vol 219 ◽  
pp. 34-48
Author(s):  
THÔNG TRƯƠNG QUANG
Keyword(s):  
Commercial Banks ◽  
Liquidity Risk ◽  
Bank Loan ◽  
Annual Reports ◽  
Internal Factors ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Independent Variables ◽  
Financing Gap ◽  
Asset Size

The research tries to identify causes of liquidity risk for the system of Vietnamese commercial banks. Data for the research are collected from annual reports in the years 2002-2011 by 27 Vietnamese commercial banks. The liquidity risk examined in the research is financing gap; and independent variables, or factors affecting the liquidity risk, are divided into two groups: internal and external ones. The estimated results of the models show that the liquidity risk among banks depends not only on internal factors, such as total asset size, liquidity reserve, inter-bank loan, and ratio of equity to capital, but also on external ones, or macroeconomic factors, such as growth rate, inflation, and especially effects of policy lags.

scholarly journals DETERMINAN PROFITABILITAS: KAJIAN PENGELOLAAN FAKTOR INTERNAL DAN EKSTERNAL PERUSAHAAN TEKSTIL DAN PRODUK TEKSTIL (TPT) YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
Vol 5 (1) ◽  
Author(s):  
Nugraheni Siwi
Keyword(s):  
Risk Management ◽  
Interest Rates ◽  
Liquidity Risk ◽  
External Factors ◽  
Current Ratio ◽  
Internal Factors ◽  
Managerial Implication ◽  
Macroeconomic Factors ◽  
Internal And External Factors ◽  
Bearing Analysis

This research looks at the effect of internal factors or microeconomics and external factors or macroeconomic factors on profitability of textiles and textiles products companies. The result showed that partially, only current ratio and the interest rates which have significant impact on ROA. simultanously, internal and external factors have significant impact on ROA. Managerial implication based on this research are, the companies should apply liquidity risk management like mitigation on liquidity crisis and liquidity risk bearing analysis also look for another fund resources to decrease interest rates expenses.

scholarly journals External and Internal Factors of Cross-Border Capital Flows in Russia

2019 ◽  
Vol 13 (4) ◽  
pp. 41-50 ◽  
Author(s):  
M. Yu. Golovnin ◽  
G. R. Oganesian
Keyword(s):  
Growth Rate ◽  
Foreign Direct Investment ◽  
Interest Rates ◽  
Capital Flows ◽  
Direct Investment ◽  
Portfolio Investment ◽  
Financial Assets ◽  
Internal Factors ◽  
Factors Affecting ◽  
Cross Border

The literature on the assessment of factors affecting cross-border capital flows is usually characterised by distinguishing of external and internal factors. The former as a rule include international indices of the global economic growth rate, interest rates and other indicators of profitability (for certain types of financial assets). The latter include domestic indices of the growth rate of the national economy, interest rates and the profitability of financial instruments, sovereign credit ratings. Since the beginning of the 21st century, cross-border capital flows in Russia have followed the same trends as capital flows in other emerging markets. A distinguishing feature of Russia was the negative impact of sanctions on the level of its financial openness. We estimated regressions, designed to evaluate the factors affecting the individual components of cross-border capital flows in Russia. Regressions for the three types of flows (liabilities of direct investment and portfolio investment liabilities, and assets) demonstrate good results. Among external factors, the dynamics of oil prices turned out to be significant, as well as the global stock index (for portfolio investment assets). Among internal factors, an increase in aggregate demand helps to attract foreign direct investment, and an increase in the yield of Russian financial assets (stocks and bonds) — to attract portfolio investments. The difference in interest rates is the determinant of all analysed capital flows. Our estimations confirmed the significance of the “round-tripping” movement of foreign direct investment in Russia.

scholarly journals Moderator Effect of Innovation on the Relationship between Internationalization and Performance in Brazilian and European Companies

2021 ◽  
Vol 15 (3) ◽  
Author(s):  
Antonio Rodrigues Albuquerque Filho ◽  
Editinete André da Rocha Garcia ◽  
Alessandra Carvalho de Vasconcelos ◽  
Afonso Carneiro Lima
Keyword(s):  
Financial Performance ◽  
Moderating Effect ◽  
Linear Regression Models ◽  
Moderator Effect ◽  
Institutional Conditions ◽  
Innovation Activities ◽  
And Performance ◽  
The Individual ◽  
Generalized Moments ◽  
The Relationship

Objective: To analyzes the moderating effect of innovation on the relationship between internationalization and financial performance. Method: The sample gathers 1,840 companies listed on Brasil, Bolsa, Balcão (B3) and NYSE Euronext  during the period of 2014-2018. Tests for difference of means were performed and linear regression models with panel data via systemic generalized moments method (GMM-Sys) were estimated. Results: Estimates indicate that the degree of internationalization alone does not assure high financial performance in Brazilian companies, while in European companies it influences return on assets (ROA) negatively. Moreover, in both contexts, the individual moderating effect of the two variables of innovation, exploration (R&D) and exploitation (Capex), could not be identified. However, a positive and significant effect of ambidextrous innovation activities in the relationship between internationalization and financial performance was verified. Evidence of the effect of internationalization on financial performance in both Brazilian and European companies is confirmed when enhanced by the simultaneous engagement of innovation activities. Contributions: This study contributes to a recent investigative line, which verifies the effect of intervening variables in the internationalization-performance relationship. It contributes to the analysis of this relationship in companies from emerging markets, a much and still needed research focus as a way of gaining a better understanding of business opportunities in adverse institutional conditions and how to seize them.

scholarly journals جودة المعلومات المحاسبية وأثرها في تحسين الأداء المالي

2021 ◽  
Vol 33 (1) ◽  
pp. 25-51
Author(s):  
د. محمد خليل حامد ◽  
د. عماد الدين محمد إبراهيم ◽  
د. محمد حسن محمد عبد الجليل
Keyword(s):  
Financial Performance ◽  
Financial Institutions ◽  
Significant Relationship ◽  
Information Quality ◽  
Accounting Information ◽  
Internal Factors ◽  
Factors Affecting ◽  
The Public ◽  
Quality Of Accounting Information

This study dealt with the accounting information quality system and its impact on improving financial performance. This study aimed to identify the basic elements of the quality of accounting information and the availability of this information in the practical environment. Diagnosing aspects of strength and weakness in order to devise means of treatment and suggest solutions and requirements to address deficiencies and weaknesses. The study problem was represented in the question related to the effect of the quality of accounting information on improving the quality of financial performance in Sudanese institutions. The study included a sample consisting of (10) banks، and to collect the necessary data a questionnaire was designed and distributed to the study sample individuals in the public administrations of these banks. (120) questionnaires were distributed، from which the research and analysis (118) were based. That is، 96% of the distributed questionnaires. The results of the study showed that there is a statistically significant relationship between the quality of accounting information and the internal factors affecting improving the financial performance of Sudanese financial institutions. And the existence of a statistically significant relationship between the quality of accounting information and the external factors affecting improving the financial performance of the Sudanese financial institutions. The study also presented a set of recommendations to improve financial performance.

scholarly journals Key Macroeconomic Drivers on Reducing Non Performing Loans in Albania

2019 ◽  
Vol 8 (2) ◽  
pp. 88-95
Author(s):  
Brikena Leka ◽  
Etleva Bajrami ◽  
Ejona Duci
Keyword(s):  
Interest Rates ◽  
World Bank ◽  
Banking System ◽  
Gdp Growth ◽  
Monetary Aggregate ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Statistical Program

Abstract The financial system in Albania is really fragile, mainly focused in banking system. This banking system faced a sharp rise in non-performing loans after 2009. The level of NPL-s has increased from 10.48% on 2009 to the pick of 23.49% on 2013. Then, it started the decline arriving to 13.23% on 2017. The focus of this study it is the determination of the main macroeconomic factors affecting the level of bad loans. We tested statistically the role of GDP growth, inflation, unemployment level, Money Aggregate M2, Exchange rate and interest rates for loans, in the level of NPL-s. The data were taken from World Bank and Bank of Albania database. The data were elaborated through statistical program E-views 10. We conducted a multiple regression and the macroeconomic factors explaining NPL-s resulted: the GDP growth, the monetary aggregate M2 and the interest of loan. This connection resulted negatively correlated with GDP growth which began to grow after 2013 arriving at 3.84% on 2017, and positively correlated with M2 which has experienced a slight increase in these years; and interest of loans which is still low in Albania, decreasing from 2001 and on. These macroeconomic factors should be taken in consideration by Albanian authorities when compiling their plans and strategies.

scholarly journals Effect of Earnings Ability on Financial Performance of Savings and Credit Societies in Kenya

2017 ◽  
Vol 2 (5) ◽  
pp. 56
Author(s):  
Prof. Willy Muturi ◽  
Jane J. Barus ◽  
Dr. Patrick Kibati ◽  
Dr. Joel Koima
Keyword(s):  
Financial Performance ◽  
Reliability And Validity ◽  
Target Population ◽  
Legal Framework ◽  
Unique Contribution ◽  
Linear Regression Models ◽  
Secondary Sources ◽  
The Social ◽  
Institutional Capital ◽  
The Government

Purpose: The purpose of this study was to establish the effect of earnings ability on financial performance of savings and credit societies in Kenya. Methodology: The study employed an explanatory research design. The target population was 83 registered deposit taking SACCO’s in Kenya that have been in operation for the last five years. The sample size for the study was all 83 SACCOs that have remained in existence since 2011-2015. Census methodology was used in the study.  Both primary and secondary sources of data were employed.  Multiple linear regression models were used to analyze the data using statistical package for the social sciences (SPSS) and STATA. A pilot study was conducted to measure the research instruments reliability and validity. Descriptive and inferential analysis was conducted to analyze the data. The data was presented using tables and graphs. Results: Based on the findings the study concluded that earnings ability influenced the financial performance of savings and credit societies in Kenya. This can be explained by the regression results which showed that the influence was positive and also showed the magnitude by which earnings ability influenced the financial performance of savings and credit societies. The univariate regression results showed that earnings ability influenced the financial performance of savings and credit societies by 6.438units. Unique contribution to theory, practice and policy: The study recommended for continuous review of credit policies, establishment of irrecoverable loan provision policies, development of sound staff recruitment policies and the use of appropriate financing mix. Further, the Government should review legal framework to ensure that institutional capital is used to grow SACCO’s’ wealth.

scholarly journals Resilience of Pomorskie region to economic crisis

2014 ◽  
Vol 25 (25) ◽  
pp. 129-141 ◽  
Author(s):  
Grzegorz Masik ◽  
Stanisław Rzyski
Keyword(s):  
Monetary Policy ◽  
Statistical Data ◽  
Economic Structure ◽  
External Factors ◽  
External Shocks ◽  
Economic Resilience ◽  
Internal Factors ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Main Factors

Abstract Economic resilience is defined as the ability of the economy to overcome the negative external shocks. It depends on macroeconomic factors and internal conditions of the country or region. Macroeconomic factors include fiscal policy, economic and monetary policy. Among the internal factors economic structure, the level of restructuring and modernization of enterprises, competitiveness and innovation should be mentioned. Among the important soft internal factors level of human capital, including entrepreneurship can be distinguished. The aim of the paper is to present the issue of economic resilience and explain what are the main factors constituting resilience of Pomorskie region (voivodship) in Poland. To achieve this aim, authors first give a theoretical introduction regarding the economic resilience concept as well as describe the methods of economic resilience measurement. Secondly the macroeconomic, external factors affecting the analysed region are discussed. Next the authors measure resilience of Pomorskie region basing on statistical data and compare the resilience of Pomorskie region with other regions in Poland. At the and the authors, basing on extensive interviews with experts, representatives of regional business and administration, attempt to explain why Pomorskie region is more resilient to economic crises than other Polish regions. In this part Pomorskie economy structure is presented too.

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