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  • The Efficacy of the Use of Depreciated/Replacement Cost Method as an Alternative to Profit/Account Method in Valuation of Hotels in Bauchi | Aliyu | Research Journal of Finance and Accounting
    to capture certain peculiarities and attributes in respect of a particular property In an ideal situation the profit method of valuation should be adopted in the valuation of hotel properties Where this is not attainable the depreciated replacement cost method is adopted The aim of the study is to examine the efficiency of the use of depreciated replacement cost method as an alternative to profit or account method in valuation of hotels Bauchi with a view to suggest and recommend the best method of valuing hotel properties This research is located in a positivist epistemology where no objective truth is accepted and truth or meaning generation comes through social engagement with the world The instruments used for data collection are interviews house inspection and document review The study adopts the depreciated replacement cost method and profit or account method of valuation in analyzing the data obtained Complete theoretical analysis was equally adopted in analyzing the data The findings reveal that the cost approach may provide a reliable estimate of value in the case of new hotel properties but as buildings and other improvements grow older and begin to deteriorate the resultant loss in value becomes increasingly difficult to quantify accurately

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24972 (2016-05-01)
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  • The Impact of Capital Structure on Profitability of Banks Listed on the Ghana Stock Exchange | Anafo | Research Journal of Finance and Accounting
    profitability of listed banks stock exchange Ghana from 2007 to 2013 The concept of capital structure in finance explains the way a firm finances its assets operations by the use of a blend of debt and equity The blend of debt and equity would make banks more profitable bearing in mind the adverse effect of the extreme of each form of financing Data was collected from Ghana stock exchange and the annual reports of the17 listed banks Descriptive statistics and multiple regression models were used to analyze the data The result revealed that the banks listed on the Ghana Stock Exchange are highly geared This can be attributed to their over dependency on short term debt which is due to the relatively high Bank of Ghana Lending rate and low level of bond market activities The study showed that financial leverage measured by short term debt to total assets STDTA had significant positive relationship with profitability measured by return on assets ROA return on equity ROE and earnings per share EPS Long Term Debt to Total Asset LTDTA also had a significant positive relationship with ROA and ROE but however had a negative and insignificant relationship with EPS Asset growth

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24973 (2016-05-01)
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  • Board Characteristics and Dividend Payout: Evidence from Malaysian Public Listed Companies | Shehu | Research Journal of Finance and Accounting
    Help Home Vol 6 No 16 2015 Shehu Board Characteristics and Dividend Payout Evidence from Malaysian Public Listed Companies Musa Shehu Abstract The main objective of this paper is to examine the relationships between board characteristics and dividend payout among the Malaysian public listed companies A sample of 164 Malaysian companies for the year 2013 was selected from the Bursa Malaysia website This paper examines the relationships between independent non executive directors board size CEO proportion of family member on board and concentrated ownerships and dividend payout among the Malaysian listed companies The findings show that concentrated ownership is found to be positive and significant in influencing the dividend payout But the independent director is also found to be significant in influencing the dividend payout in negative direction The finding of this study will be worthy for the companies investors as well as the policy makers and regulators in Malaysia by providing information on the effectiveness of some corporate governance mechanisms that influence the firm dividend payout after the implementation of revised Code on Corporate Governance 2012 to make important recommendations for the improvement in the corporate governance practices in Malaysia Keywords Dividend payout Corporate Governance Ownership Structure CEO Full

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24974 (2016-05-01)
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  • The Performance of Alternative methods for Estimating Equity Betas of Jordan Industries | Gharaibeh | Research Journal of Finance and Accounting
    value and momentum factors This paper shows that none of the return differences regarding these four factors are significant at the 5 level Further the paper also investigates the bias of the standard CAPM approach for each industry separately and examines the effectiveness of alternative beta estimators The finding of this work shows that constant betas produce better estimates of cost of equity for particular industries mostly either defensive or

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24975 (2016-05-01)
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  • Working Capital Management and Financial Performance of Deposit Money Banks in Nigeria | Yahaya | Research Journal of Finance and Accounting
    Studies in working capital management have provided inconclusive results The objective of this study is to examine the effect of working capital management of Deposit Money Banks in Nigeria The study covers the period of six years 2007 to 2013 Data for the study were extracted from the firms annual reports and accounts After running the OLS regression a robustness test was conducted for validity of statistical inferences the data was empirically tested between the regressors and the regressed A multiple regression was employed to test the model of the study using OLS The results from the analysis revealed a strong positive relationship between current ratio and quick ratio and ROA of Listed Deposit Money Banks in Nigeria while cash ratio was found to be inversely but significantly related to ROA of Listed Deposit Money Banks in Nigeria In line with the above findings the study recommended that the management should put more attention on their liquidity in order to maintain an adequate liquidity as the study has empirically proved that higher liquidity signifies more profitability the listed Deposit Money Banks in Nigeria should try and maintain a higher quick ratio as it will have a positive impact on their

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24976 (2016-05-01)
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  • Does Inflation Granger Cause Stock Market Performance In Nigeria ? | Ogunmuyiwa | Research Journal of Finance and Accounting
    between inflation and movements in stock market index in Nigeria While attempting to do this monthly time series data from June 2011 to March 2013 were fitted to Augmented Dickey Fuller ADF and Phillips Perron PP tests as well as the Granger causality test Empirical findings revealed that inflation and NSE index are I 2 and I 1 series respectively The Granger causality test revealed a weak unidirectional causality from

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24977 (2016-05-01)
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  • Long-Term Contrarian profits in the Middle East Market Indices | Gharaibeh | Research Journal of Finance and Accounting
    contrarian profits at the Middle East ME market indices This paper shows strong evidence for the long term contrarian strategy in the Middle East indices The result of this study demonstrates that the long term contrarian profits for the Middle East markets can t be explained by two factor model In spite of whether winners are smaller or larger than losers there are long term abnormal profits Finally the findings

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24995 (2016-05-01)
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  • The Impact of Financial Leverage, Growth, and Size on Profitability of Jordanian Industrial Listed Companies | AlGhusin | Research Journal of Finance and Accounting
    Growth non current total assets ratio and firm s Size as independent variables on profitability in proxy of Return On Assets ratio ROA as dependent variable A sample of 25 Jordanian Industrial companies listed on Amman Stock Exchange ASE for a period of 10 years from 1995 2005 was selected The results of the research show that there is a significant effect of the Financial Leverage and Growth on profitability

    Original URL path: http://www.iiste.org/Journals/index.php/RJFA/article/view/24978 (2016-05-01)
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