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  • The Integration of Six Sigma and Balanced Scorecard in Internal Auditing | Hafez | Research Journal of Finance and Accounting
    to utilize the integration between six sigma and BSC in internal auditing to be more effective and efficient in risk management Design methodology This study based on a structured questionnaire was distributed to a group of a sample of internal auditors members of audit committee and senior managers of insurance companies in Egypt that have established internal audit function and risk management The research sample consists of Misr insurance company as a public company and represent 70 of this sector Delta insurance company and Suez canal insurance company as private one In total130 responses were collected and analyzed Findings The integration between six sigma and balanced scorecard will have a significant positive impact on the internal auditing effectiveness and efficiency Practical implications Financial organizations like banks and insurance companies could gain an understanding of the integration between six sigma and balanced score card in internal auditing to be more effective and efficient in its organizations Value This study indicated an empirical evidence to support the need to rethink the internal auditing role in risk management to be added value in the organizations Limitation This study focuses on the Egyptian insurance companies that have risk management but they do not use

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26123 (2016-05-01)
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  • Stock Price Determination in the Nigerian Stock Exchange Market: 2005-2010 | Magaji | Research Journal of Finance and Accounting
    Issue By Author By Title Other Journals Journal Help Home Vol 6 No 18 2015 Magaji Stock Price Determination in the Nigerian Stock Exchange Market 2005 2010 Sule Magaji Ismaila Daddy Abubakar Tahir Hussaini Mairiga Abstract Stock price index and market capitalisation were seen to have crashed during the wake of the recent financial meltdown This research investigates the determinants of stock price volatility in Nigeria Multiple regression and vector auto regression VAR models were utilized to measure the response of stock price to prior price level capital gain information excess demand and quantity of stock traded using data on daily transaction covering the period 2005 to 2010 Prior price level and capital gain were found as the overriding factors in stock price determination However shocks to stock price account for the largest variation in the future value of stock price Accordingly both regulators and companies are urged to stop frequent alteration of prevailing stock price by allowing the market forces to determine the prices while systematically preventing the market against negative external and internal forces Keywords Stock price index market capitalization financial meltdown Vector autoregressive VAR models stock price determination Full Text PDF To list your conference here Please

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26124 (2016-05-01)
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  • The Determinants of Dividend Policy: Evidence from Malaysian Firms | I. F. Issa | Research Journal of Finance and Accounting
    to investigate the relationship between dividend payout ratio in Malaysian firms with profitability size growth opportunities free cash flow business risk and market to book value The paper used a sample of 284 firms listed on the Kuala Lumpur Stock Exchange KLSE from seven sectors viz Consumer Products Industrial Products Construction Finance Technology Properties and Telecommunication In order to decipher the relationships as stated above multivariate regression analysis is used to test the hypotheses The study found that at the pooled data level for All sectors free cash flow return on assets return on equity earning per share market to book value and market capitalization have significant positive correlation with dividend payout ratio The variable Beta however has a strong negative correlation with dividend payout ratio The findings however differ from sector to sector results reflect that Market capitalization Beta ROA and ROE are the common variables which have influence on DPR across various sectors except in technology sector where as the variable Market capitalization is not significantly associated with DPR Similarly ROA which is significant determinant variable of DPR in four sectors like Construction Consumer Products Properties and Telecommunication Sector it has no influence on the dividend payout ratio

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26125 (2016-05-01)
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  • The Determinants of Dividend Policy: Evidence from Malaysian Firms | I. F. Issa | Research Journal of Finance and Accounting
    selected should load here if your Web browser has a PDF reader plug in installed for example a recent version of Adobe Acrobat Reader Alternatively you can also download the PDF file directly to your computer from where it can be opened using a PDF reader To download the PDF click the Download link below If you would like more information about how to print save and work with PDFs

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26125/26081 (2016-05-01)
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  • The External Orientation of Strategic Management Accounting: Customer Accounting, Business Strategies, and Customer Performance | Alsoboa | Research Journal of Finance and Accounting
    investigate the status of customer performance in JIC to examine the influence of business strategies on the usage of CA and to examine the influence of CA on customer performance in JIC In addition this study aims to determine the relationship between business strategies cost leadership differentiation and focus and customer performance control for CA A survey on Jordanian industrial companies JIC was conducted for data collection A total of 90 questionnaires were distributed to these companies Out of this number 68 were returned The response rate was about 75 5 Descriptive statistics showed that the customer performance indicators in JIC are in a good status and there are good improvements in all categories of customer performance One sample t test showed that CA techniques were used by the JIC The results of multiple regressions showed that business strategies contribute significantly and show high levels of variation of CA in JIC Cost leadership strategy and focus strategy had a statistically significant positive effect on CA in JIC The results of simple regressions showed that that CA contributes significantly and explains a quarter of the variation in customer performance in JIC It is also found that CA has a statistically significant positive effect on customer performance in JIC A partial correlation revealed that there were moderate positive partial correlations between business strategies and customer performance whilst controlling for CA in addition ZPC showed that there were statistically significant moderate positive correlations between these strategies and customer performance indicating that CA have an important influence in controlling for the relationship between business strategies and customer performance The positive signs of the r values are indication that when CA is enhanced business strategies cost leadership differentiation and focus and customer Performance are also enhanced This study made an important contribution because it is

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26127 (2016-05-01)
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  • CAPM and Three Factor Model: Empirical Testing from Emerging Market | Satrio | Research Journal of Finance and Accounting
    Emerging Market Arif Budi Satrio Abstract The relationship between expected return the size of the company and the company s value empirically tested in this study with testing in developing countries namely Indonesia capital market This study seeks to test the CAPM model at the same time three factor model of Fama and French 1993 The results showed that the three factor model is a powerful model for explaining the

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26128 (2016-05-01)
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  • Impact of Automated Financial Accounting System on Audit Processes of Selected Companies in Nigeria | Olayiwola | Research Journal of Finance and Accounting
    Bello Abstract The study was carried out to assess the impact of automating financial accounting system on audit processes of selected companies in Nigeria The objectives were to assess the relationship between an automated data capturing system and audit planning and also identify the influence of an automated data capturing system on gathering of audit evidence Four companies made up of two companies each from manufacturing and telecommunication sectors were selected using purposive sampling technique Four audit firms were also selected purposively being auditors of these companies The population of the study was the entire staff of these companies and staff of the audit firms The study used primary source of data Product Moment Coefficient Correlation and Simple Percentage were used for data presentation and analysis The result revealed a weak positive relationship between automated data capturing system and the duo of audit planning and audit evidence The study among others recommended that audit firms should improve on their staff competency through training and retraining workshops and seminars so that auditors can deal with this type of activities with high degree of professionalism and competency It also recommended the need for constant enlightenment of management of various organizations about risks

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26129 (2016-05-01)
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  • Exchange Rate Volatility and International Trade In Nigeria | DANLADI | Research Journal of Finance and Accounting
    volatility increases exchange rate risk This study seeks to evaluate the impact of exchange rate volatility on international trade in Nigeria on the basis of annual data from 1980 to 2013 which was obtained from World Bank Development Indicators WDI Exchange rate volatility gross national product GDP investment interest rate import and export were used to capture the causal relationship between exchange rate volatility and international trade and also the long run and short run relationship between exchange rate volatility and international trade A review of the literature reveals that exchange rate volatility has a negative impact on international trade The empirical analysis began with testing for stationarity of the variables by applying the Augmented Dickey Fuller ADF this was followed by co integration test then the granger causality and the Error Correction Model ECM The co integration test indicated that the variables are co integrated which implies that a long run relationship exist between the variables while the granger causality test showed that a causal relationship exist between international trade and exchange rate volatility It was observed form the ECM analysis that exchange rate volatility negatively affects international trade The study therefore recommend that the government should put in

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/26130 (2016-05-01)
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