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JournalISSN: 2146-4138

International Journal of Economics and Financial Issues 

EconJournals
About: International Journal of Economics and Financial Issues is an academic journal published by EconJournals. The journal publishes majorly in the area(s): Stock exchange & Stock market. It has an ISSN identifier of 2146-4138. It is also open access. Over the lifetime, 2072 publications have been published receiving 15833 citations. The journal is also known as: IJEFI.


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Journal Article
TL;DR: In this paper, the authors used linear multiple regression model and generalized least square on panel data to estimate the parameters of bank performance and found that bank specific factors significantly affect the performance of commercial banks in Kenya, except for liquidity variable.
Abstract: Studies on moderating effect of ownership structure on bank performance are scanty. To fill this glaring gap in this vital area of study, the authors used linear multiple regression model and Generalized Least Square on panel data to estimate the parameters. The findings showed that bank specific factors significantly affect the performance of commercial banks in Kenya, except for liquidity variable. But the overall effect of macroeconomic variables was inconclusive at 5% significance level. The moderating role of ownership identity on the financial performance of commercial banks was insignificant. Thus, it can be concluded that the financial performance of commercial banks in Kenya is driven mainly by board and management decisions, while macroeconomic factors have insignificant contribution. Keywords: Financial Performance; Bank Specific Factors; Macroeconomic Variables JEL Classifications: E4; G2

664 citations

Journal Article
TL;DR: In this paper, the determinants of non-performing loans for a sample of 85 banks in three countries (Italy, Greece and Spain) for the period of 2004-2008 were detected.
Abstract: In this study we tried to detect the determinants of non-performing loans for a sample of 85 banks in three countries (Italy, Greece and Spain) for the period of 2004-2008. These countries have faced financial problems after the subprime crisis on 2008. The variables used are macroeconomic variables and specific variables to the bank. The macroeconomic variables are included the rate of growth of GDP, unemployment rate and real interest rate with respect to specific variables opted for the return on assets, the change in loans and the loan loss reserves to total loans ratio (LLR/TL). After the application of the method of panel data, we found the problem loans vary negatively with the growth rate of GDP, the profitability of banks’ assets and positively with the unemployment rate, the loan loss reserves to total loans and the real interest rate. Keywords: Non-performing loans; Macroeconomic determinants; Bank specific determinants JEL Classifications: E32; E44; F30; G2

178 citations

Journal Article
TL;DR: In this article, the authors investigate the relationship between working capital management components and performance of the firms by using dynamic panel data analysis and demonstrate that firms can increase profitability measured by gross operating profit by shortening collection period of accounts receivable and cash conversion cycle.
Abstract: The working capital management has an important role for the firm’s success or failure because of it’s’ effect on firm’s performance and liquidity. The study is based on secondary data collected from 75 manufacturing firms listed on Istanbul Stock Exchange Market for the period 2002-2009 with an attempt to investigate the relationship between working capital management components and performance of the firms by using dynamic panel data analysis. The results demonstrate that firms can increase profitability measured by gross operating profit by shortening collection period of accounts receivable and cash conversion cycle. Leverage as a control variable has a significant negative relationship with firm value and profitability of firms. This means, increase in the level of leverage will lead to decline in the profitability of the firm and the value of the firm. Keywords: Working capital management; Cash Conversion Cycle; Tobin Q JEL Classifications: G39; C22

121 citations

Journal Article
TL;DR: In this article, the authors examined the interrelations among ownership, board and manager characteristics and firm performance in a sample of 54 firms listed at the Nairobi Stock Exchange (NSE).
Abstract: This paper examines the interrelations among ownership, board and manager characteristics and firm performance in a sample of 54 firms listed at the Nairobi Stock Exchange (NSE). These governance characteristics, designed to minimize agency problems between principals and agents are operationalized in terms of ownership concentration, ownership identity, board effectiveness and managerial discretion. The typical ownership identities at the NSE are government, foreign, institutional, manager and diverse ownership forms. Firm performance is measured using Return on Assets (ROA), Return on Equity (ROE) and Dividend Yield (DY). Using PPMC, Logistic Regression and Stepwise Regression, the paper presents evidence of significant positive relationship between foreign, insider, institutional and diverse ownership forms, and firm performance. However, the relationship between ownership concentration and government, and firm performance was significantly negative. The role of boards was found to be of very little value, mainly due to lack of adherence to board member selection criteria. The results also show significant positive relationship between managerial discretion and performance. Collectively, these results are consistent with pertinent literature with regard to the implications of government, foreign, manager (insider) and institutional ownership forms, but significantly differ concerning the effects of ownership concentration and diverse ownership on firm performance. Keywords : Ownership Structure; Agency Theory; Ownership Concentration; Ownership Identity; Managerial Discretion; Firm Performance. JEL Classifications: G32; L25

109 citations

Journal Article
TL;DR: In this article, the authors investigated the impact of financial inclusion on economic growth in Nigeria and found that financial inclusion is a signifi cant determinant of the total factor of production, as well as capital per worker, which invariably determines the level of output in the economy.
Abstract: Financial development is not simply a result of economic growth; it is also the driver of economic growth. Financial inclusion (FI), a feature of fi nancial development, is a process that marks improvement in quantity, quality, and effi ciency of fi nancial intermediary services. It generates local savings, which increase productive investments in local businesses. This paper investigated the impact of FI on economic growth in Nigeria. It aimed to highlight the determinants of FI and its impact on economic growth. Secondary data were sourced from world development indicators and ordinary least square regression model was used to analyze the data. The result shows that FI is a signifi cant determinant of the total factor of production, as well as capital per worker, which invariably determines the fi nal level of output in the economy. This study recommends that natural and economic resources should be adequately harnessed, as alternative means of revitalization and diversifi cation of Nigeria’s oil-dependent monocultural economy. Keywords: Financial Inclusion; Economic Growth; Nigeria JEL Classifications: G21; O4

106 citations

Performance
Metrics
No. of papers from the Journal in previous years
YearPapers
202366
202291
202156
2020173
2019116
2018169