Power Approaches to Policy-Making

Society is the mixture of mass and elite group. Elite group of society remains in apex and forcefully take the space in decision making process, direct and instruct the mass as well as administrators and drag the power in their own hands. Elites manipulate mass opinion and sentiments. They rule masses of people. Elite theories introduce not only elites, but also new important subjects like power, and raise questions for example on oligarchic tendencies in democracy.

Remittance Status and Contribution to GDP of Nepal

The research paper aims to analyze the status of remittance and its contribution to GDP of Nepal. The study has adopted the descriptive and analytical research design. The study is quantitative in nature. Most of the developing countries like Nepal depend on remittance as the major source of foreign currency earning. Remittance plays an important role in economic development of a country. Nepal has also long history of international labor migration about 200 years ago Nepali migrant laborers are contributing substantial amount as remittance inflows through legal channel which has positive impact on GDP, per-capita income, Capital formation, education etc. The volume of remittance is much more than the records because, migrants are using illegal ways due to ignorance and difficulty in receiving amount from legal ways.

Influencing Factors of Stock Price in Nepal

This paper explores the influencing factors of stock price in Nepal (with reference to Nepalese commercial banks) listed on the Nepal Stock Exchange Ltd. over the period of 2008 to 2018AD. The information were collected from questionnaire and financial statement of concerned organizations and analyzed using simple linear regression model. The conclusions of the work revealed that earning per share (EPS), dividend per share (DPS), effective rules and regulations, market whims and rumors, company profiles and success depend upon luck have the significant positive association with share price while interest rate (IR) and price to earnings ratio (PER), showed the significant inverse association with share price. Further, accessibility of liquidity, fundamental and technical analysis stimulates the performance of the Nepalese stock market. More importantly, stock market has been found to respond significantly to changes in dividend and interest rate.

Determinants of Capital Structure on Trading and Manufacturing Enterprises: A Case of Nepal

This study mainly aimed at examining the determinants of capital structure in Nepalese trading and manufacturing firms. The study has covered eleven major on-financial enterprises of trading and manufacturing firm’s specific variables. Firm’s size, growth opportunity, asset tangibility, profitability, firm’s age, liquidity and interest coverage ratio have selected as variables to examine their effect on corporate capital structure. The study used both descriptive and causal comparative research design to examine the determinants of capital structure. Data required for undertaking the study were collected from secondary sources. For each enterprise, financial data for 10 fiscal years covering the period of F/Y 2005/2006 to F/Y 2015/2016.The study concluded that asset tangibility, profitability, liquidity and interest coverage ratio are the major determinants of corporate capital structure in Nepalese trading and manufacturing firms.

Herding Behavior in Nepali Stock Market: Empirical Evidences based on Investors from NEPSE

The research paper aims to examine the attitudinal factors influencing herding behavior in order to manage the fluctuations, bubbles, and bursts in the Nepal capital market. The descriptive and analytical research design has been adopted in the study. The qualitative data has been collected through the structured, self-administered questionnaire distributed to five hundred investors of the securities market in Nepal. The usable questionnaires have been confined to 407responses. The statistical tools mean, percentages, correlation and regression analysis has been done to process the data towards findings. As the result, the decision accuracy, age and experiences have not been found significant. The result from the analysis revealed the significant relationship of hasty decision with herd behavior.

Nepalese Foreign Trade: Growth, Composition, and Direction

The objective of this article is to study and analyze the growth, composition, and direction of the Nepalese foreign trade. This is descriptive a study that uses secondary sources of information. The analysis is based on simple statistical tools like ratio and percent. This study finds the very low export performance of Nepal. This is creating the problem of rapidly increasing trade deficit. Nepal is also unable to diversify its trade in terms of countries and commodities. The major causes of increasing trade deficit are low export, and high import, low-quality products, improper trade policy, higher cost of production, lack of publicity and advertisement, low production, slow industrial development, lack of trade diversification, etc. Nepal can reduce its trade deficit by diversification of its trade in terms of commodities and countries.

Influence of Demographic Factors on Job Satisfaction of University Faculties in Nepal

This study is intended to examine the influence of demographic factors on job satisfaction of university faculties. One hundred and six faculty members teaching areas of management in central department of Tribhuvan University and its constituent campuses were taken as the sample. The study used survey questionnaire (23 items) derived from long form Minnesota Satisfaction Questionnaire (MSQ) (1967). The statistical tools like independent sample t-test and ANOVA were applied to find the result. The result revealed that among eight demographic variables, monthly income seemed more important variable which had significant influence on six variables (social recognition, working environment, compensation, promotion recognition and union) of job satisfaction. Furthermore, designation seemed second important demographic variable which had significant influence on five variables of job satisfaction of faculty members. Limitations of the study are identified and recommendation for the future researchers are discussed.

Working Capital Management and Its Impact on the Profitability of Pukar International Co.Ltd.

This paper aims to report the results of an investigation of the relative importance of working capital management, measured by the Return on Assets (ROA), and its components (Current ratio, average collection period and average payment period) to the profitability of Pukar International Trading. This paper analyzes the effect of working capital Management on firm’s profitability in Nepal for the period 2071 to 2072. For this Purpose, financial data of four year is used. Pearson’s correlation and Descriptive analysis were used to establish the relationship between working capital management and firm’s profitability and components of working capital like Average collection period, Average payment period and Current ratio. The study finds a negative relationship between profitability and average collection period and average payment period, but appositive relationship between profitability and current ratio. Moreover, current ratio and firm size also have significant effects on the firm’s profitability. Based on the key findings from this study it had been concluded that the management of a firm could create value for their shareholders by reducing the number of day’s accounts collection. Firms could also take long to pay their creditors in as far as they did not worry their relationships with these creditors.

Knowledge Acquisition in Nepalese Telecom Industry

This research paper presents the Knowledge Management practice in Nepalese telecom sector. This study is based on cross section analysis of 85 observations for analyzing relationship between the knowledge management (KM) practices status in Nepalese telecom sector. The methodology used by Kohli (1993) and Daroch (2003) has been used for the research. Survey instruments we reorganized into one part and five factors. Spearman Rank Correlation, Analysis of variance (ANOVA), Cranach’s alpha etc. is used for data analysis. The valid response rate of 70 % was found. Among the factors that designed for knowledge acquisition, information input- employee has less mean score and information input-financial has high mean score than the others factors. In case of Information input-competitors, Nepalese telecom industry analyzes the financial contribution of their products or services. Employees of Nepal telecom has rated higher mean value in the KM practices i.e. knowledge acquisition, which means Nepal telecom appeared good in KM practices than Ncell. There is a significant difference between Nepal telecom and Ncell in term of the knowledge acquisition. Nepal telecom has better KA (Knowledge Acquisition) practices. Correlation matrix was computed to assess the extent or degree of relationship in between the factors or the research variables.

Personal Income Tax Structure in Nepal: An evaluation

Purpose – This paper aims to evaluate the structure of the PIT in Nepal. Methodology/design/approach –This study adopts descriptive and quantitative research approach, sourcing the data and information from both primary and secondary, which include books, reports (economic survey, report/statement of Central Bureau of Statistics, etc.), journals, bulletins, newspapers, websites, etc. For the objective result, we use statistical tools to confirm the value of the PIT structure. Findings and conclusion – The PIT is a major ingredient of income tax, which contains a complex and critical structure in income components, exemption limit, tax base, units, and tax rates. The study found increment in the exemption limit based on equity, equality and with the rate of inflation. However, the method of determination of exemption limit was unscientific. The tax slabs and rates observed three categories progressive, digressive and mild progressive under the three governments regimes inconsistent with national tax policy. Different era of government imposed the tax burden on different slabs and observed decline in tax progressivity in the later year. In the studied period, the PIT payers sacrificed27.81% amount as tax and saved only 72.19% of their total taxable net earnings. It showed a high rate of tax. The tax burden on PIT reached as high as 45.49%in 1989-90 and as low as 24.13% in 1998-99. The gap between maximum and minimum ranged 22.89%, with a great disparity in the tax policy and an average tax, the burden remained 32.56% during the studied period. A high rate of tax encourages the evasion; taxpayers alter their decisions on the financial activities, which reduce the benefit of both the public authorities and taxpayers or citizens. Good tax policy should strive to provide benefit to both the concerned parties. Originality/value – This is descriptive research to find out the structure of Piton Nepal, which is derived and written by the author using the primary as well as secondary sources of data and information. Thus, this is original writing in the context of Nepal and in PIT literature.