scholarly journals Financial Risk and Adoption of Public-Private Partnerships in Kenyan Public Universities

2020 ◽  
pp. 32-41
Author(s):  
Francis Mukatia Asakania ◽  
Gregory S. Namusonge ◽  
Maurice Sakwa
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Financial Risk ◽  
Public Universities ◽  
Positive Influence ◽  
Public Private Partnerships ◽  
The Public ◽  
Exchange Rate Variability ◽  
Descriptive Research ◽  
Number Of Factors

Employment of public-private partnerships as a way of delivery of public utilities has been on the rise in the recent past. This has been driven by a number of factors, key among them being the ability of the public entity to transfer financial risk to private sector players who are better placed to mitigate such risks. The study purposed to assess the effect of financial risk on adoption of public-private partnerships in Kenyan public universities. The specific study objectives were to evaluate the influence of interest rate variability, revenue streams variability and exchange rate variability on adoption of public-private partnerships. The study employed a descriptive research design while targeting a population of 223 comprising of purposively selected employees from nine public universities. A sample size of 143 was used from whom data was collected using structured questionnaire. Data analysis employed use of both descriptive and inferential statistics. The results obtained show that interest rate variability, revenue stream variability and exchange rate variability have a statistically significant influence on adoption of public-private partnerships. On the basis of the study findings it was concluded that financial risk transfer had a significant positive influence on adoption of public-private partnerships in Kenyan public universities. It is therefore recommended that Kenyan public universities should thoroughly evaluate financial risk involved in any project before entering into public-private partnership arrangement in order to enhance value for money.

scholarly journals ANALYSIS OF THE INFLUENCE OF INTEREST RATE, EXCHANGE VALUE, WORLD GOLD PRICES, DOW JONES INDEX, AEX INDEX, DAX INDEX, AND SHANGHAI INDEX ON LQ45 INDEX IN INDONESIA STOCK EXCHANGE 2012 – 2018

2021 ◽  
Vol 7 (2) ◽  
pp. 135
Author(s):  
Andini Nurwulandari ◽  
Hasanudin Hasanudin ◽  
Ari Jatmiko Setiyo Budi
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Exchange ◽  
Negative Influence ◽  
Positive Influence ◽  
Gold Price ◽  
Jones Index ◽  
Exchange Value ◽  
The Interest Rate ◽  
Significant Positive Influence

<p><em>This research aims to find out the influence of interest rate, exchange rate, world gold price, Dow Jones Index, AEX Index, DAX Index, and Shanghai Index on the LQ45 Index at the Indonesia Stock Exchange from 2012 through 2018 using the ARCH/GARCH model as the method of analysis.  The result of the test shows that the exchange rate had a significant negative influence, Dow Jones Index, AEX Index, and DAX Index had a significant positive influence on the LQ45 index, while the interest rate and world gold price had a non-significant negative influence and the Shanghai Index had a non-significant positive influence on the LQ45 index.</em></p>

scholarly journals ANALYSIS OF THE EFFECT OF INFLATION, INTEREST RATE, THE MONEY SUPPLY ON RUPIAH EXCHANGE RATE PERIOD 1996-2014

2020 ◽  
Vol 8 (1) ◽  
Author(s):  
Novrida Siregar
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Rate Ratio ◽  
Negative Influence ◽  
Positive Influence ◽  
Rate Period ◽  
Data Source ◽  
The Subject ◽  
Significant Positive Influence ◽  
Domestic Inflation

The data source is from Bank Indonesia (BI), the result of this research shows that the domestic inflation has a significant positive influence to rupiah exchange rate toword American Dollar, and cash rate ratio has a negative influence to Rupiah exchange rate with American Dollar, while overseas inflation, domestic interest rate , overseas interest rate they do not have significant influence toword Rupiah exchange rate with American Dollar. From the determination coefficient result (R2) show that the subject which has been researched can explain 93,11 percent toword Rupiah exchange rate while the rest 3,89 percent can be explained by other subject out of model.

Oil Export Earnings, Exchange Rate Variability, and Economic Growth in Nigeria

2014 ◽  
Vol 3 (4) ◽  
pp. 11-23
Author(s):  
Folorunso Sunday Ayadi ◽  
Olubunmi Elizabeth Oluwagbemi
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Interest Rate ◽  
Price Index ◽  
Exchange Rate Volatility ◽  
Oil Price ◽  
Exchange Rate Variability ◽  
Oil Export ◽  
Effective Exchange ◽  
Effective Exchange Rate

This paper investigates oil revenue and exchange rate volatility and as well as their impacts on Nigerian economic growth which is examined from 1980 – 2010. Exchange rate volatility was captured using standard deviationof monthly nominal effective exchange rate. During this period, Nigeria recorded high levels of volatility (in oil receipt and effective exchange rate) as can be seen from the Autoregressive Conditional Heteroskedasticity (ARCH) and the General Autoregressive Conditional Heteroskedasticity (GARCH) - ARCH/GARCH results. Also, the Augmented Dickey-Fuller test indicate that some of the variables exhibit unit root, this research further makes use of vector autoregressive process (VAR) using the variance decomposition of Choleski factorisation in which forecast error variance of some systems of equations has innovations which is credited to each variable and the method of impulse response function. The authors established that exchange rate in Nigeria due to its volatility causes revenue volatility from oil and this has a daring consequence on Nigeria's economic growth (being a monoculture economy). They found that change in oil price index, change in interest rate, proportion of export to GDP and exchange rate variability bears some negative impacts on change in the rate of output growth in Nigeria. Moreover, government size and exchange rate variability created some disturbances to change in the rate of output, these changes were not as substantial as those created by change in interest rate, ratio of oil export to GDP and change in oil price index. In addition, change in output responds negatively for some time horizon to one-standard deviation shocks in change in oil price index, change in interest rate, oil export to GDP and exchange rate variability. The authors recommend economic diversification and sound macroeconomic management among others.

Studying Application of Self Financing Methods in Autonomized Vietnam Public Universities

2019 ◽  
Vol 35 (4) ◽  
Author(s):  
Ngo Thu Giang
Keyword(s):  
Interest Rate ◽  
Public Universities ◽  
Practical Experience ◽  
State Budget ◽  
The Public ◽  
Consulting Services ◽  
Funding Sources ◽  
Investment Income

The study analyizes practical experience of funding sources of public universities in Vietnam, appraises structure of funding sources applied in autonomized Vietnam public universities; reviews funding experiences of public universities in other countries. Founded results shown that the public universities in Vietnam have mobilized funds from six sources as state budget, tuition and fee, endowment funds, amenity services, consulting services, researches and investment income. However, only three self financing sources of fund considered as subtainable, long maturity and interest rate flexibility are tuition and fee, services and investment income. Basing on analysing results, the research proposed methods to mobilize the funding sources.

scholarly journals FINANCIAL RISK EXPOSURES OF THE AIRLINES INDUSTRY: EVIDENCE FROM CATHAY PACIFIC AIRWAYS AND CHINA AIRLINES

2017 ◽  
Vol 17 (2) ◽  
Author(s):  
Yasmin Yashodha ◽  
Baharom Abdul Hamid ◽  
Muzafar Shah Habibullah
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Airline Industry ◽  
Financial Stability ◽  
Stock Price ◽  
Financial Risk ◽  
Forecast Error ◽  
Impulse Response Function ◽  
Fuel Price ◽  
Substantial Impact

This study explores the long run and dynamic relationships between the stock price of Cathay Pacific Airways and China Airlines against key determinants of financial risks exposure confronting the airline industry, which include interest-rate, exchange rate and fuel price risk exposures for the period of January 1996 to December 2011. The (Johansen & Juselius, 1990) cointegration technique was employed to detect any long time trending relationship followed Vector Error Correction Model (VECM) and Vector Auto-Regression (VAR). The generalised forecast error variance decomposition and the generalised impulse response function were employed to comprehend the effects of theses financial risk exposures. Our empirical results suggest that exchange rate movements have a substantial impact, compared to the fuel price and interest rate exposures against the stock price of the analysed airline. Our findings play a pertinent role in the determination of the respective airlines foreign vulnerability and financial policies which would be helpful for industry players and policy makers from a financial stability perspective.Keywords: Airline; Stock Price; VECM; VAR; IRF.

scholarly journals The management of inflation rate, interest rate and foreign exchange rate risks: A business executive outlook

2007 ◽  
Vol 4 (3) ◽  
pp. 64-70
Author(s):  
Frederik J. Mostert ◽  
Jan Hendrik Mostert
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
South African ◽  
Foreign Exchange ◽  
Financial Risk ◽  
Inflation Rate ◽  
Foreign Exchange Rate ◽  
Financial Risk Management ◽  
Business Executives ◽  
Risk Insurance

Inflation rate, interest rate and foreign exchange rate risks are relevant to enterprise stakeholders because they impact in varying degrees on the financial performance of enterprises. Business executives are expected to take reasonable steps for managing these risks and to rely on sound and innovative financial risk management solutions to meet the expectations of stakeholders in their enterprises. This paper aims at improving financial risk management practices by applying insurance principles to the management of inflation rate, interest rate and foreign exchange rate risks. To achieve this objective, the research paper focuses on the features of finite risk insurance and the perceived importance of these features when South African business executives consider strategies to manage the above risks. Finite risk insurance is classified as a form of alternative risk transfer (commonly referred to as “ART”) that relates to the point where insurance, banking and/or the capital market converge in an attempt to efficiently provide enterprises with sufficient financial capacity for protection against a variety of risks. The features of finite risk insurance are highlighted and the views of business executives regarding the importance of these features for the management of inflation rate, interest rate and foreign exchange rate risks are disclosed and analysed. The paper closes with recommendations to providers of financial services based on the needs of South African industrial companies to manage the above risks.

scholarly journals Alternative Sources of Financing University Education in Lagos State, Nigeria

2016 ◽  
Vol 12 (34) ◽  
pp. 284
Author(s):  
Comfort. O. Akomolafe ◽  
Esther Temiwunmi Aremu
Keyword(s):  
Public Universities ◽  
The State ◽  
University Education ◽  
State University ◽  
Alternative Source ◽  
Undergraduate Level ◽  
The Public ◽  
Descriptive Research ◽  
Lagos State ◽  
Alternative Sources

This study examined the various alternative sources put in place in the public universities in Lagos State in financing the institutions. The study adopted descriptive research design. The population for the study was all the universities in Lagos State. The sample for this study comprised two public universities in Lagos state. A self-design questionnaire titled “Alternative sources of financing university inventory” (ASFUI) was used to gather information required from the budgetary section of the universities. The study revealed that the Federal University was able to employ more alternative sources of financing than the State University. However, none of the universities fully employed the available alternative sources. It also revealed that tuition was not an alternative source at undergraduate level in the Federal university. It was recommended that the universities should employ more alternative sources which are yet to be employed and the State University specifically should be involved in some income generated activities which are commercial in nature and not currently employed. Tuition should be introduced in the Federal Universities at undergraduate level with consideration to students from poor parents.

INTEREST RATE SPREADS AND EXCHANGE RATE VARIABILITY

1994 ◽  
Vol 62 (2) ◽  
pp. 151-166 ◽  
Author(s):  
TORBEN M. ANDERSEN ◽  
JAN ROSE SØRENSEN
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Exchange Rate Variability ◽  
Interest Rate Spreads

scholarly journals ANALYSIS OF THE EFFECT OF INFLATION, INTEREST RATE, THE MONEY SUPPLY ON RUPIAH EXCHANGE RATE PERIOD 1996-2014

2019 ◽  
Vol 8 (1) ◽  
pp. 68
Author(s):  
Novrida Siregar ◽  
Eko Wahyu Nugrahadi
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Rate Ratio ◽  
Negative Influence ◽  
Positive Influence ◽  
Rate Period ◽  
Data Source ◽  
The Subject ◽  
Significant Positive Influence ◽  
Domestic Inflation

The data source is from Bank Indonesia (BI), the result of this research shows that the domestic inflation has a significant positive influence to rupiah exchange rate toword American Dollar, and cash rate ratio has a negative influence to Rupiah exchange rate with American Dollar, while overseas inflation, domestic interest rate , overseas interest rate they do not have significant influence toword Rupiah exchange rate with American Dollar. From the determination coefficient result (R2) show that the subject which has been researched can explain 93,11 percent toword Rupiah exchange rate while the rest 3,89 percent can be explained by other subject out of model.

scholarly journals Open-Economy Inflation- Forecast Targeting

2006 ◽  
Vol 7 (1) ◽  
pp. 35-64 ◽  
Author(s):  
Kai Leitemo
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Open Economy ◽  
Rational Expectations ◽  
Time Inconsistency ◽  
Rational Expectations Equilibrium ◽  
Inflation Target ◽  
Exchange Rate Variability ◽  
Output Stability ◽  
One Year

Abstract We study simple inflation-forecast targeting in an open-economy setting. Simple inflation-forecast targeting implies setting an interest rate which, if kept unchanged throughout the forecast-targeting horizon, produces a conditional inflation forecast equal to the inflation target at the end of the horizon.We find that the optimal forecast-targeting horizon is relatively short (one year). A longer horizon does not consistently contribute to improved output stability, indeed it increases exchange rate variability and traded sector variability. The targeting procedure is substantially inferior to the optimal pre-commitment policy. Moreover, the targeting procedure does not necessarily determine the rational-expectations equilibrium and is subject to time inconsistency.

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