Search results for: financial status

Authors: Dwi Kartika Rukmi, Miftafu Darussalam

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Background: The disclosure of women’s HIV status toward their sexual partners is an important issue that should be regarded as one of the efforts to prevent and control the spread of HIV. Research on the disclosure of seropositive HIV status as well as women-related factors in Indonesia, especially Yogyakarta is only a few. Methods: This is a correlational descriptive research along with its cross-sectional approach on 329 women with HIV/AIDS at the Victory Plus NGO from June to July 2016. This research used a purposive sampling method and a questionnaire as the data collection technique. The bivariate analysis test was undertaken by using a chi-square and multivariate test along with a logistic regression. Result: The multivariate analysis and logistic regression show five independent variables related to the disclosure of seropositive HIV status of women with HIV/AIDS toward their sexual partners, namely ethnicity (aOR = 36,859; 95% CI; (6,544-207,616)) religion (aOR =0,255; 95%CI; (0,075-0,868)), discussion with partners prior to the HIV test (aOR =0,069; 95%CI; (0,065-0,438)) , types of sexual partners (aOR = 0.191; 95% CI; (0.082-0,445)) and knowledge on the partners’ HIV status (aOR = 0.036; 95% CI; (0.008-0.160)). The highest level of reason for seropositive HIV women not to be open about their partners’ status is the fear of being rejected by their partners and the environmental stigma of HIV AIDS disease. Conclusion: The disclosure of seropositive HIV status in women with HIV/AIDS in the Victory Plus NGO of Yogyakarta was 79.4% or classified as a high category with some related factors such as ethnicity, religion, discussion with partners prior to the HIV test, types of partners and knowledge on the partners’ HIV status.

Keywords: women, HIV, disclosure, sexual partner

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Authors: Flex Anim

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The financial system is a decentralized studies system that was put into place in Ghana as a grassroots financial studies approach. Its main goal is to give people the precise knowledge, abilities, and training required for a given trade, business, profession, or occupation. In this essay, the question of how the financial studies system's devolution to local businesses results in responsible and responsive representation as well as long-term company learning is raised. It centers on two case studies, Asekwa Municipal and Oforikrom. The next question posed by the study is how senior high school students are rebuilding their livelihoods and socioeconomic well-being by creating new curriculum and social practices related to the finance and business studies system. The paper here concentrates on Kumasi District and makes inferences for the other two examples. The paper demonstrates how the financial studies system's establishment of representative groups creates the democratic space required for the successful representation of community goals. Nonetheless, the interests of a privileged few are advanced as a result of elite capture. The state's financial and business training programs do not adhere to the financial studies system's established policy procedures and do not transfer pertinent and discretionary resources to local educators. As a result, local educators are unable to encourage representation that is accountable and responsive. The financial studies system continues to pique the interest of rural areas, but this desire is skewed toward getting access to financial or business training institutions for higher education. Since the locals are not actively involved in financial education, the financial studies system serves just to advance the interests of specific populations. This article explains how rhetoric and personal benefits can be supported by the public even in the case of "failed" interventions.

Keywords: financial studies system, financial studies' devolution, local government, senior high schools and financial education, as well as community goals and representation

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Authors: Jitaree Tantiyasawatdikul, Bantita Jadnok, Sarunya Tijana

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Background: Nutritional status is an important factor before, during, and after an operation. It can help wound healing. If the patients have good nutritional status before and after an operation, wound healing can occur more easily. It can strengthen the immune system leading to decreased infection, reduced length of stay, and reducing the cost to patients and caregivers. Therefore, screening to evaluate the nutritional status of patients in 3B becomes the database for further developing the treatment and also will lead to excellent service from the interdisciplinary team. Objective: To study the nutritional status of patients in surgical ward 3B at Surgical and Orthopedics Nursing Division, Srinagarind Hospital. Method: A descriptive study, to evaluate the nutritional status of 86 patients admitted in 3B between October 2014 and March 2015.The instruments used in this study consisted of two parts: 1) personal data, 2) Screening nutritional status. The data were analyzed by percentage and mean. Results: A sample population of 86 patients aged 22-81 years old, mean age 52.59years, 90.69% are married, female were 55.81%, regular diet 70.93%, patients with no problem oral cavity was 87.21%.The sample population had high incidence of CA 47.67% and secondly cardiovascular disease 36.05 %. Patients with high-risk nutrition was 12.79 % including 45.45% cardiovascular disease and 36.36% CA. Screening of nutritional status of high-risk nutrition was 39.36% severe triceps skinfold (TSF), severe mid-arm muscle circumference(MAMC) 9.09% and severe total lymphocyte 39.36%. Conclusion: The result of nutritional status screening of surgical ward 3B found 12.79% patients with high-risk nutrition including 45.45% with cardiovascular disease .There was no problem with oral cavity and eating.

Keywords: nutritional status, screening, surgical patients, 3B ward, Srinagarind Hospital

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Authors: G. L. Rithika, Arvind B. S., Akash R., Ananda Vinayak, Hema M. S.

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Cryptocurrencies were first launched in the year 2009 and have been a great asset to own. Cryptocurrencies are a representation of a completely distinct decentralization model for money. They also contribute to the elimination of currency monopolies and the liberation of money from control. The fact that no government agency can determine a coin's value or flow is what cryptocurrency advocates believe makes them safe and secure. The aim of this paper is to analyze the economic implications of cryptocurrency and how it would disrupt traditional financial systems. This paper analyses the growth of Cryptocurrency over the years and the potential threats of cryptocurrency to financial systems. Our analysis shows that although the DeFi design, like the traditional financial system, may have the ability to lower transaction costs, there are multiple layers where rents might build up because of endogenous competition limitations. The permissionless and anonymous design of DeFi poses issues for ensuring tax compliance, anti-money laundering laws and regulations, and preventing financial misconduct.

Keywords: cryptocurrencies, bitcoin, blockchain technology, traditional financial systems, decentralisation, regulatory framework

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Authors: Shamsuddeen Muhammad Ahmad

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The emergence and operations of Islamic Financial Institutions (IFIs) are being regarded as the new economic and financial pride at the global stage today. Admittedly, therefore, the IFIs has continued to impact positively on the economies of its host countries, especially the Gulf Cooperation Council (GCC) region, Asian and Western countries as well as making a steady in-road into the sub-Saharan Africa. Hence, the number of countries that adopted Islamic financial system in Africa has continued to increase. As a matter of fact, this paper examines the role and contributions of Islamic Financial Institutions (IFIs) to the economic growth and financial development of the big emerging markets in the African continent i.e. South Africa, Nigeria, and Egypt. The methods adopted for this study are descriptive, comparative and analytical in nature. Essentially, the findings from this study reveal that the three sampled countries are benefitting from the presence of IFIs in their economies in terms of contributions to economic growth and real sector participation, particularly for Egypt and South Africa. Similarly, they reap from foreign direct investments and economic diversification among others. However, this study recommends that African countries should integrate IFIs as part and parcel of their economic and financial systems, in order to benefit optimally from this new economic phenomenon.

Keywords: Islamic financial services, Africa, emerging markets, development, operation

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Authors: Yosapon Kidsuntad

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The purpose of this dissertation was to explore the relationship between financial transparency and investor behavior. In carrying out this inquiry, the researcher used a questionnaire was utilized as a tool to collect data. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. The results revealed that there are significant differences investor perceptions of the different dimensions of financial information transparency. These differences correspond to demographical variables with the exception of the educational level variable. It was also found that there are relationships between investor perceptions of the dimensions of financial information transparency and investor behavior in the private company in Dusit Area. Finally, the researcher also found that there are differences in investor behavior corresponding to different categories of investor experience.

Keywords: financial information transparency, investor behavior, private company, Dusit Area

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Authors: Alhamdi Alfi Fajri

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The purpose of this study is to analyze and to give empirical proof about the effect of fair value implementation on financial asset against information asymmetry in Indonesia’s banking sector. This research tested the effect of fair value implementation on financial asset based on Statement of Financial Accounting Standard (PSAK) No. 55 and the fair value reliability measurement based on PSAK No. 60 against level of information asymmetry. The scope of research is Indonesia’s banking sector. The test’s result shows that the use of fair value based on PSAK No. 55 is significantly associated with information asymmetry. This positive relation is higher than the amortized cost implementation on financial asset. In addition, the fair value hierarchy based on PSAK No. 60 is significantly associated with information asymmetry. This research proves that the more reliable measurement of fair value on financial asset, the more observable fair value measurement and reduces level of information asymmetry.

Keywords: fair value, PSAK No. 55, PSAK No. 60, information asymmetry, bank

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Authors: Vera Jancurova

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The financial theory is dominated by the believe that weekday effect has disappeared from current markets. The purpose of this article is to study anomalies, especially weekday effect, at real markets that disrupt the efficiency of financial markets. The research is based on the analyses of historical daily exchange rates of significant world indices to determine the presence of weekday effects on financial markets. The methodology used for the study is based on the analyzes of daily averages of particular indexes for different time periods. Average daily gains were analyzed for their whole time interval and then for particular five and ten years periods with the aim to detect the presence on current financial markets. The results confirm the presence of weekday effect at the most significant indices - for example: Nasdaq, S & P 500, FTSE 100 and the Hang Seng. It was confirmed that in the last ten years, the weekend effect disappeared from financial markets. However in last year’s the indicators show that weekday effect is coming back. The study shows that weekday effect has to be taken into consideration on financial markets, especially in the past years.

Keywords: indices, anomalies, behavioral finance, weekday effect

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Authors: Anocha Rojanapanich

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The objective of this research is to investigate the effects of earnings management on corporate transparency of the company in Dusit area workplace via financial reporting reliability and stakeholder acceptance as independent variable. And the company in Dusit are are taken as the population and sample. The questionnaire is used to collect data. Exploratory Factor Analysis is implemented to ensure construct validity, and correlation statistic is selected to test the relationship among all variable and the ordinary least squares regression is used to explore the hypothesized. The results show that earnings management has a significant and negative impact on financial reporting reliability, stakeholder acceptance, and corporate transparency. Both financial reporting reliability and stakeholder acceptance have an important and positive effect on corporate transparency, and they are then mediators of the earnings management-corporate transparency relationships.

Keywords: dusit area workplace, earnings management, financial report, business and marketing management

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Authors: G. Obrentri, C. Whajah, E. Yeboah Acheampong

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Professional status for African male players guarantees them socioeconomic benefits that may not necessarily be the case for female footballers. The study’s rationale is to understand how female footballers achieve professional status abroad. That contributes to analyzing how female players from Africa especially, Ghana, manage their professional status to improve their family’s social welfare and the community. Relying on football migration and feminization, we identify their migration process and its relevance to their social mobility in society. Analysis through interviews with some female footballers revealed the importance of playing professional abroad that goes to increase their social status and national identity. Findings show that some female footballers with secondary education achieved career empowerment and social independence via their profession. Thus becoming medical doctors and nurses, sports administrators, football coaches and welfare officers for clubs. These achievements of the female footballers can provide useful information and lessons for young female African players aspiring to play professionally abroad.

Keywords: empowerment, female footballers, football migration, professional status, social independence

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Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

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Authors: Astghik R. Sukiasyan

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The semidental sweet maize of Armenian population under drought stress and pollution by some heavy metals (HMs) in sites along the river Debet was studied. Accordingly, the objective of this work was to investigate the antioxidant status of maize plant in order to identify simple and reliable criteria for assessing the degree of adaptation of plants to abiotic stress of drought and HMs. It was found that in the case of removal from the mainstream of the river, the antioxidant status of the plant varies. As parameters, the antioxidant status of the plant has been determined by the activity of malondialdehyde (MDA) and Ferric Reducing Ability of Plasma (FRAP), taking into account the characteristics of natural drought of this region. The possibility of using some indicators which characterized the antioxidant status of the plant was concluded. The criteria for assessing the extent of environmental pollution could be HMs. This fact can be used for the early diagnosis of diseases in the population who lives in these areas and uses corn as the main food.

Keywords: antioxidant status, maize corn, drought stress, heavy metal

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Authors: A. K. M. Rezaul Karim, Abu Yusuf Mahmud, S. H. Mahmud

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The study aimed to investigate whether the affect (experience of feeling or emotion) of ethnic minority people can be predicted by gender and marital status. Toward this end, positive affect and negative affect of 103 adult indigenous persons were measured. Analysis of data in multiple regressions demonstrated that both gender and marital status are significantly associated with positive affect (Gender: β=.318, p < .001; Marital status: β=.201, p < .05), but not with negative affect. Results indicated that the indigenous males have 0.32 standard deviations increased positive affect as compared to the indigenous females and that married individuals have 0.20 standard deviations increased positive affect as compared to their unmarried counterparts. These findings advance our understanding that gender and marital status inequalities in the experience of emotion are not specific to the mainstream society; rather it is a generalized picture of all societies. In general, men possess more positive affect than females; married persons possess more positive affect than the unmarried persons.

Keywords: positive affect, negative affect, ethnic minority, gender, marital status

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Authors: Vered Holzmann, Ramzi Halabi

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The current research investigates motivators and barriers to high-tech entrepreneurship in the Israeli-Arab Community. With the aim to exploit the capacity of Israel as a 'start-up nation', we identify the most important aspects to promote integration of Israeli-Arab entrepreneurs in high-tech startups and business companies, thus impact the socio-economic status of the Arab community in Israel. We reviewed the literature on the role of high-tech and entrepreneurship in the Israeli economy, the profile of the Israeli-Arab community with regard to education and employability, and the characteristics of minority entrepreneurship to understand entrepreneurs' intentions, their incentives to choose the entrepreneurial route on one hand and the obstacles that they face on the other hand. Based on the literature review, we conducted an integrated study that included a survey among 73 Israeli-Arabs involved in high-tech entrepreneurship and 16 semi-structured interviews with Israeli-Arab and Jewish entrepreneurs and leaders in the high-tech industry. We analyzed the data to explore personal and social motivating factors to entrepreneurship as well as educational and socio-economical barriers for entrepreneurship. Three major elements were found to be the most influential on Arab high-tech entrepreneurship in Israel: education, financial resources, and strategic-institutional support. The relationship between education and employability that is well-known with regard to general education, requires two additional aspects in the field of high-tech entrepreneurship: education of technology and engineering, and education of business and entrepreneurship. The study findings reveal that the main motivation factors for entrepreneurship are development of creative ideas and improvement of the socio-economic status, while financial-related factors and lack of institutional and governmental support are perceived as impediments to entrepreneurial activities. Financing difficulties are mainly derived from discriminating financial environment and lack of professional networking. The relationship between entrepreneurship and economic growth seems to be clear and simple; thus it is a national interest to encourage entrepreneurship among the Arab community, and especially high-tech entrepreneurship which has a significant role in the economic growth of Israel.

Keywords: high-tech industry, innovation management, Israeli-Arab community, minority entrepreneurship, motivating factors and barriers

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Ghimire K., Mehta R. S., Parajuli P., Chettri R.

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Background: Malnutrition is a common hallmark of Human Immuno Virus (HIV) disease. It plays a synergistic role in immunosuppression which is initiated by Human Immuno Virus itself, and malnutrition forms an independent risk factor for disease progression. Objectives: The objective of the study is to assess the nutritional status of the people living with Human Immuno Virus/Acquired Immune Deficiency Syndrome attending the Anti-Retro viral Treatment Clinic and find the association of nutritional status with different socio-demographic variables. Methods: A total of 101 people living with HIV/AIDS (PLWHA) were selected by convenient sampling technique. The study was conducted at the ART clinic of BPKIHS. A subjective global assessment tool was used for data collection. Descriptive and inferential statistics were used for data analysis. Results: The study demonstrated that the mean age of the respondents was 40.97+8.650 years. 65.3% were well-nourished, and 34.7% of the participants were mildly/moderately malnourished, whereas none of them were severely malnourished. BMI was statistically significant with education status, family income, and duration of illness of the participants, and nutritional status was statistically significant with gender, marital status, education status, and family history of HIV. Conclusion: On the basis of the result, it can be concluded that more than half of the respondents were well nourished. Gender, marital status, and education are associated with nutritional status.

Keywords: nutritional status, people living with HIV/AIDS, ART treatment, Nepal

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Authors: Humayun Murshed, Shibly Abdullah

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The research conducted in early seventies apparently assumed the existence of a universal decision model for union negotiators and furthermore tended to regard financial information as a ‘neutral’ input into a rational decision-making process. However, research in the eighties began to question the neutrality of financial information as an input in collective bargaining rather viewing it as a potentially effective means for controlling the labour force. Furthermore, this later research also started challenging the simplistic assumptions relating particularly to union objectives which have underpinned the earlier search for universal union decision models. Despite the above developments there seems to be a dearth of studies in developing countries concerning the use of financial information in collective bargaining. This paper seeks to begin to remedy this deficiency. Utilising a case study approach based on two enterprises, one in the public sector and the other a multinational, the universal decision model is rejected and it is argued that the decision whether or not to use financial information is a contingent one and such a contingency is largely defined by the context and environment in which both union and management negotiators work. An attempt is also made to identify the factors constraining as well as promoting the use of financial information in collective bargaining, these being regarded as unique to the organizations within which the case studies are conducted.

Keywords: collective bargaining, developing countries, disclosures, financial information

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Authors: Marco Barassi, Nicola Spagnolo

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This paper uses a DCC-GARCH model framework to examine mean and volatility spillovers (i.e. causality in mean and variance) dynamics between financial centers and the stock market indexes of the BRICS countries. In addition, tests for changes in the transmission mechanism are carried out by first testing for structural breaks and then setting a dummy variable to control for the 2008 financial crises. We use weekly data for nine countries, four financial centers (Germany, Japan, UK and USA) and the five BRICS countries (Brazil, Russia, India, China and South Africa). Furthermore, we control for monetary policy using domestic interest rates (90-day Treasury Bill interest rate) over the period 03/1/1990 - 04/2/2014, for a total of 1204 observations. Results show that the 2008 financial crises changed the causality dynamics for most of the countries considered. The same pattern can also be observed in conditional correlation showing a shift upward following the turbulence associated to the 2008 crises. The magnitude of these effects suggests a leading role played by the financial centers in effecting Brazil and South Africa, whereas Russia, India and China show a higher degree of resilience.

Keywords: financial crises, DCC-GARCH model, volatility spillovers, economics

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Authors: Giulia Dal Maso

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Within the contemporary financial capitalist configuration, the interplay of Chinese statecraft and financialization has shaped a new ‘ecology of financial expertise.’ This indicates the emergence of a new financial technocratic governance; that is increasingly changing the Chinese economy, reducing the state’s administrative and fiscal functions and increasing state assets in accordance with a new shareholder logic. In this shift, the creation of the stock market by the state was conceived not only as a new redistributor of wealth but as a ‘clearing house’ for social discontent resulting from work casualization, wage repression and a lack of social welfare. Since its inception in the wake of Deng Xiaoping’s reforms, the Chinese state has used the stock market as a means of securing social legitimation by providing a prearranged space where the disaggregated and vulnerable subjects left behind by the dismantlement of the collective work units of the Maoist period (danwei) can congregate. However, fieldwork which included both participant observation as well as interviews with investors in brokerage rooms in Shanghai (where one of only two mainland Chinese stock exchanges is situated) reveals that both new formal and informal financial experts—namely the haigui (Chinese returnees with a financial degree abroad) and sanhu (individual Chinese scattered players), are equally dissatisfied with their investing activities. They express discontent with the state, which they hold responsible for the summer 2015 financial crisis and for the financial turmoil that jeopardizes China’s financial and political project. What the investors want is a state that will guarantee the continuation of the current gupiaore ‘stock fever’. This paper holds that, by embracing financialization, the state is undermining the contract at the base of its legitimacy.

Keywords: Chinese state, Deng Xiaoping, financial capitalism, individual investors

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Authors: Chow Fah Yee, Eu Chye Tan

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The main purpose of developing a modern and sophisticated financial system is to mobilize and allocate the country’s resources for productive uses and in the process contribute to economic growth. Financial liberalization introduced in Malaysia in 1978 was said to be a step towards this goal. According to Mc-Kinnon and Shaw, the deregulation of a country’s financial system will create a more efficient and competitive market driven financial sector; with savings being channelled to the most productive users. This paper aims to assess whether financial liberalization resulted in bank credit being allocated to the more productive users, for the case of Malaysia by: firstly, using Chi-square test to if there exists a relationship between financial liberalization and bank lending in Malaysia. Secondly, to analyze on a comparative basis, the share of loans secured by 9 major economic sectors, using data on bank loans from 1975 to 2003. Lastly, present value analysis and rank correlation was used to determine if the recipients of bigger loans are the more efficient users. Chi-square test confirmed the generally observed trend of an increase in bank credit with the adoption of financial liberalization. While the comparative analysis of loans showed that the bulk of credit were allocated to service sectors, consumer loans and property related sectors, at the expense of industry. Results for rank correlation analysis showed that there is no relationship between the more productive users and amount of loans obtained. This implies that the recipients (sectors) that received more loans were not the more efficient sectors.

Keywords: allocation of resources, bank credit, financial liberalization, economics

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Authors: Devina Aprilia Gunawan, Tasya Aspiranti, Inugrah Ratia Pratiwi

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This research aims to classify the mining sector companies based on Altman’s Z-score model, and providing an analysis based on the Altman’s Z-score model’s financial ratios to provide a picture about the financial condition in mining sector companies in Indonesia and their viability in the future, and to find out the partial and simultaneous impact of each of the financial ratio variables in the Altman’s Z-score model, namely (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), toward the financial condition represented by the Z-score itself. Among 38 mining sector companies listed in Indonesia Stock Exchange (IDX), 28 companies are selected as research sample according to the purposive sampling criteria.The results of this research showed that during 3 years research period at 2010-2012, the amount of the companies that was predicted to be healthy in each year was less than half of the total sample companies and not even reach up to 50%. The multiple regression analysis result showed that all of the research hypotheses are accepted, which means that (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), both partially and simultaneously had an impact towards company’s financial condition.

Keywords: Altman’s Z-score model, financial condition, mining companies, Indonesia

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Authors: Arzu K. Kamberli, Tolga Ulusoy

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Technological developments and the resulting global communication have made the 21st century when large capitals are moved from one end to the other via a button. As a result, the flow of capital inflows has accelerated, and capital inflow has brought with it crisis-related infectiousness. Considering the irrational human behavior, the financial crisis in the world under the influence of the whole world has turned into the basic problem of the countries and increased the interest of the researchers in the reasons of the crisis and the period in which they lived. Therefore, the complex nature of the financial crises and its linearly unexplained structure have also been included in the new discipline, econophysics. As it is known, although financial crises have prediction mechanisms, there is no definite information. In this context, in this study, using the concept of electric field from the electrostatic part of physics, an early econophysical approach for global financial crises was studied. The aim is to define a model that can take place before the financial crises, identify financial fragility at an earlier stage and help public and private sector members, policy makers and economists with an econophysical approach. 2001 Turkey crisis has been assessed with data from Turkish Central Bank which is covered between 1992 to 2007, and for 2001 Argentina crisis, data was taken from IMF and the Central Bank of Argentina from 1997 to 2007. As an econophysical method, an analogy is used between the Gauss's law used in the calculation of the electric field and the forecasting of the financial crisis. The concept of Φ (Financial Flux) has been adopted for the pre-warning of the crisis by taking advantage of this analogy, which is based on currency movements and money mobility. For the first time used in this study Φ (Financial Flux) calculations obtained by the formula were analyzed by Matlab software, and in this context, in 2001 Turkey and Argentina Crisis for Φ (Financial Flux) crisis of values has been confirmed to give pre-warning.

Keywords: econophysics, financial crisis, Gauss's Law, physics

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Authors: A. O. Talabi, F. M. Taib, D. J. Jalaludin

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The influence of sustainability reporting on Deposit Money Banks (DMBs)' financial performance both before and after mandated environmental, social, and governance (ESG) disclosure is examined in this article. Using a sample size of the top six strategically important listed banks in Nigeria, the study employed the paired sample t-test to assess the pre-mandatory ESG period (2009-2015) and the post-mandatory ESG period (2016-2022). According to the findings, there was no discernible difference between the performance of DMBs in Nigeria before and after the requirement for ESG disclosure. In the pre-mandatory requirement time, sustainability reporting is a major predictor of financial metrics, but in the post-mandatory requirement period, there was no discernible change in financial performance. Market authorities ought to have unrestricted authority to impose severe fines for noncompliance and bring legal action against corporations that fail to disclose ESG. This work contributes to the literature on ESG disclosure and financial performance by considering two different periods.

Keywords: financial, performance, sustainability, reporting

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Authors: Man Kumar Tamang, Uday Narayan Yadav

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Background and objectives: Every country in the world is facing a demographic challenge due to drastic growth of population over 60 years. Adequate diet and nutritional status are important determinants of health in elderly populations. This study aimed to assess the nutritional status among the elderly population and factors associated with malnutrition at the community setting in rural Nepal. Methods: This is a community-based cross-sectional study among elderly of age 60 years or above in the three randomly selected VDCs of Morang district in eastern Nepal, between August and November, 2016. A multi stage cluster sampling was adopted with sample size of 345 of which 339 participated in the study. Nutritional status was assessed by MNA tool and associated socio-economic, demographic, psychological and nutritional factors were checked by binary logistic regression analysis. Results: Among 339 participants, 24.8% were found to be within normal nutritional status, 49.6% were at risk of malnutrition and 24.8% were malnourished. Independent factors associated with malnutrition status among the elderly people after controlling the cofounders in the bivariate analysis were: elderly who were malnourished were those who belonged to backward caste according to traditional Hindu caste system [OR=2.69, 95% CI: 1.17-6.21), being unemployed (OR=3.23, 95% CI: 1.63-6.41),who experienced any mistreatment from caregivers (OR=4.05, 95% CI: 1.90-8.60), being not involved in physical activity (OR=4.67, 95% CI: 1.87-11.66) and those taking medication for any co-morbidities. Conclusion: Many socio-economic, psychological and physiological factors affect nutritional status in our sample population and these issues need to be addressed for bringing improvement in elderly nutrition and health status.

Keywords: elderly, eastern Nepal, malnutrition, nutritional status

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Authors: Bilal Ashraf, Qianxiao Zhang

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This study empirically investigated the linkage amid financial development and its important determinants such as information and communication technology, natural resource rents, economic growth, current account balance, and gross savings in 107 economies. This paper preferred to employ the second-generation unit root tests to handle the issues of slope heterogeneity and “cross-sectional dependence” in panel data. The “Kao, Pedroni, and Westerlund tests” confirm the long-lasting connections among the variables under study, while the significant endings of “cross-sectionally augmented autoregressive distributed lag (CS-ARDL)” exposed that NRR, CAB, and S negatively affected the financial development while ICT and EG stimulates the procedure of FD. Further, the robustness analysis's application of FGLS supports the appropriateness and applicability of CS-ARDL. Finally, the findings of “DH causality analysis” endorse the bidirectional causality linkages amongst research factors. Based on the study's outcomes, we suggest some policy suggestions that empower the process of financial development, globally.

Keywords: determinants of financial developments, CS-ARDL, financial development, global sample, causality analysis

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Authors: Ben Kwame Agyei-Mensah

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This study investigated the influence of firm-specific characteristics which include proportion of Non-Executive Directors, ownership concentration, firm size, profitability, debt equity ratio, liquidity and leverage on the extent and quality of financial ratios disclosed by firms listed on the Ghana Stock Exchange. The research was conducted through detailed analysis of the 2012 financial statements of the listed firms. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results of the extent of financial ratio disclosure level, mean of 62.78%, indicate that most of the firms listed on the Ghana Stock Exchange did not overwhelmingly disclose such ratios in their annual reports. The results of the low quality of financial ratio disclosure mean of 6.64% indicate that the disclosures failed woefully to meet the International Accounting Standards Board's qualitative characteristics of relevance, reliability, comparability and understandability. The results of the multiple regression analysis show that leverage (gearing ratio) and return on investment (dividend per share) are associated on a statistically significant level as far as the extent of financial ratio disclosure is concerned. Board ownership concentration and proportion of (independent) non-executive directors, on the other hand were found to be statistically associated with the quality of financial ratio disclosed. There is a significant negative relationship between ownership concentration and the quality of financial ratio disclosure. This means that under a higher level of ownership concentration less quality financial ratios are disclosed. The findings also show that there is a significant positive relationship between board composition (proportion of non-executive directors) and the quality of financial ratio disclosure.

Keywords: voluntary disclosure, firm-specific characteristics, financial reporting, financial ratio disclosure, Ghana stock exchange

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Authors: Khawla Hlel

Abstract:

Purpose: This study aims to examine whether critical audit matters (CAM) affect financial information quality. We also investigate the moderating role of the audit committee on the association between CAM and financial information quality. Design/Methodology/Approach: The analysis is based on GLS and GMM regressions explaining the absolute value of discretionary accruals by using 52 Tunisian listed firms on the Tunisia Stock Exchange (TSE) for the period 2017-2020. Findings: We find evidence that managers react to the CAM by increasing the quality of financial disclosures. This study provides insights into how a change in the auditor’s report model might impact the quality of financial information. It suggests that external auditors and audit committees serve as a beneficial mechanism for enhancing financial information quality by reducing information asymmetry. In addition, our results indicate that CAM is an efficient monitoring mechanism that increases financial reporting quality and supervises managers. Originality: This study is important for potential investors who should assess CAM when evaluating firms. Furthermore, the authors expect the findings to be interesting to firms, as this study highlights the effectiveness of the auditor in reducing managerial opportunistic behavior and improving information quality. The results could encourage audit regulators to ameliorate the standards, as this research reinforces the role of the auditor in increasing the quality of financial disclosure by offering the required information for shareholders.

Keywords: critical audit matters, audit committee, information quality, Tunisian firms

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Authors: Abongile Zweni

Abstract:

As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.

Keywords: leadership, municipal finance, financial performance, management skills, municipality

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Authors: Remy Jonkam Oben

Abstract:

Using a time series approach, this study investigates how natural resources impact financial development from a global perspective over the 1980-2019 period. Some important determinants of financial development (economic growth, trade openness, population growth, and investment) have been added to the model as control variables. Unit root tests have revealed that all the variables are integrated into order one. Johansen's cointegration test has shown that the variables are in a long-run equilibrium relationship. The vector error correction model (VECM) has estimated the coefficient of the error correction term (ECT), which suggests that the short-run values of natural resources, economic growth, trade openness, population growth, and investment contribute to financial development converging to its long-run equilibrium level by a 23.63% annual speed of adjustment. The estimated coefficients suggest that global natural resource rent has a statistically-significant negative impact on global financial development in the long-run (thereby validating the financial resource curse) but not in the short-run. Causality test results imply that neither global natural resource rent nor global financial development Granger-causes each other.

Keywords: financial development, natural resources, resource curse hypothesis, time series analysis, Granger causality, global perspective

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Authors: Hala Hzam Al Otaibi

Abstract:

Background: Obesity is more common among Saudi women compared to men, with 75–88% of adult women suffering from overweight or obesity and most of them married. Weight status and body appreciation are an important factor in maintaining or loss weight behaviors and for husbands satisfaction. Aims: To assess weight status, body appreciation and related factors, including age, level of education, occupation status husbands satisfaction in adult women. Methods: A cross-sectional study conducted among 326 married women, aged 18 to 60 years old in Eastern of Saudi Arabia. Data were collected by face to face interview, height and weight were measured to calculate body mass index (BMI). Body Appreciation Scale (BAS) and husbands satisfied were evaluated through questioning. Results: The majority of women has a university education, not employed and less than 40 years old (66.5%, 69.9%, 67.5%; respectively). Fifty-four percent of women overweight/obese and the rest were normal weight, BAS mean score was lower in younger women (>40 years) 7.39+2.20 and obese women (6.83+2.16) which is reflected lower body appreciation. Husbands' satisfaction regarding the weight status shows 47.6% of normal weight believed their husbands were dissatisfied with their weight and consider them as overweight/obese, 28.3% of overweight/obese thought their husbands satisfied with their weight and consider them as normal weight. Body appreciation correlated with age (r.139,p<0.05) and no correlation found for level of education and employed status. Husbands satisfaction strongly correlated with body appreciation (r.189,p<0.01) and weight status (r .570,p <0.01). Conclusion: Our findings indicate that women had a low body appreciation related to age, weight status and husbands' dissatisfaction. Future interventions aimed to weight reduction, it is important to consider husband satisfaction, as well as we need more assessment of weight satisfaction in younger women.

Keywords: body appreciation, husbands satisfaction, weight status, women

Procedia PDF Downloads 332