International Journal of Accounting and Business Finance最新文献

Determinants of Financial Shortfalls in State-Owned Railway Systems: An Ardl Approach for Sri Lanka Railways 国有铁路系统资金短缺的决定因素：斯里兰卡铁路的 Ardl 方法

International Journal of Accounting and Business Finance Pub Date : 2024-07-10 DOI: 10.4038/ijabf.v10i1.153

C. T. Danthanarayana, S. J. Francis, A. S. Kumarage

{"title":"Determinants of Financial Shortfalls in State-Owned Railway Systems: An Ardl Approach for Sri Lanka Railways","authors":"C. T. Danthanarayana, S. J. Francis, A. S. Kumarage","doi":"10.4038/ijabf.v10i1.153","DOIUrl":"https://doi.org/10.4038/ijabf.v10i1.153","url":null,"abstract":"Sri Lanka Railways (SLR) has been experiencing a financial shortfall since the 1940s, characterised by operational expenditure exceeding total revenue. This study aimed to identify the critical determinants of the financial shortfall of Sri Lanka Railways (SLR) using an econometric approach. Employing a quantitative methodology, the study utilised secondary and manipulated data from 1977 to 2022 to examine the effects of four key variables: revenue shortfall from fare revisions (FRFR), subsidised season tickets (FRSS), freight transport volume (FTK), and total wage bill (WB), incorporating the general price level (CCPI) to account for inflation. The regression analysis, using the Auto Regressive Distributed Lag Model, identified a short-run relationship between the financial shortfall (LFS) and lagged variables, including the volume of rail freight transport (LFTK), total employee wage bill (LWB), and the general price level (LCCPI). A long-run relationship was found among revenue shortfall from fare revisions (LFRFR), LWB, LCCPI, and LFS. The findings highlight the significant impact of aligning railway fares with bus fares and managing employee expenses on SLR's financial shortfall. Additionally, the revenue shortfall from subsidised season tickets showed a significant relationship at a 10% significance level, both short-term and long-term. The study underscores the necessity of revising railway fares in line with bus fares to enhance revenue and ensure financial sustainability. Optimising employee-related costs through effective management and reviewing the subsidy structure for season tickets are also recommended. Furthermore, investment in capacity and facility development for freight transport is crucial for mitigating long-term financial shortfalls.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"25 13","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141662418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Mainstreaming Microfinance: Balancing Financial Performance and Outreach 小额信贷主流化：兼顾财务业绩和推广

International Journal of Accounting and Business Finance Pub Date : 2024-07-10 DOI: 10.4038/ijabf.v10i1.150

K. Panditharathna, R. P. C. R. Rajapakse

{"title":"Mainstreaming Microfinance: Balancing Financial Performance and Outreach","authors":"K. Panditharathna, R. P. C. R. Rajapakse","doi":"10.4038/ijabf.v10i1.150","DOIUrl":"https://doi.org/10.4038/ijabf.v10i1.150","url":null,"abstract":"There is an unsolved dilemma in the Sri Lankan microfinance sector: whether microfinance institutions target low-income earners or seek profitability. To contribute to this debate, this research investigates the effect of financial performance on outreach and the effect of outreach on financial performance. Balancing financial performance and outreach of microfinance institutions have been conducted in various countries and regions, but specifically not for Sri Lanka after implementing No.06 of 2016 Microfinance Act. This study used an empirical data set for ten years, from 2010 to 2019. Data was collected from 16 MFIs and the panel data regression model was used for the analysis. According to the results MFIs can achieve financial and social objectives simultaneously when serving a larger number of customers and a high percentage of female borrowers. But providing services to the core poor people diminishes their financial performance. As per the findings, policy makers are required to make a roadmap to protect both customers and organization financial sustainability. This study emphasizes the importance of having a proper reporting system for the microfinance sector and future research may wish to consider more MFIs by considering a long period and future research can occupy financial performance and outreach variables which are good at forecasting.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"30 36","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141659832","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Process of Acquisition to Destination – A Bang on Economic Prudence with Reference to Indian Logistics Industry 从采购到目的地的过程--以印度物流业为参照的经济谨慎大爆炸

International Journal of Accounting and Business Finance Pub Date : 2024-07-10 DOI: 10.4038/ijabf.v10i1.154

K. Maran, K. S. U. Mohideen, T. Prabaharan, C. R. Senthilnathan

{"title":"Process of Acquisition to Destination – A Bang on Economic Prudence with Reference to Indian Logistics Industry","authors":"K. Maran, K. S. U. Mohideen, T. Prabaharan, C. R. Senthilnathan","doi":"10.4038/ijabf.v10i1.154","DOIUrl":"https://doi.org/10.4038/ijabf.v10i1.154","url":null,"abstract":"The study explores the significance of the logistics industry in the Indian economy and examines its sector-wise impact on economic well-being. It emphasizes how the presence or absence of transport infrastructure significantly influences economic growth and global competitiveness. With globalization expanding its scope, the study addresses the challenges of global logistics, such as trade laws, cultural differences, and the necessity for efficient cross-border transportation networks. Moreover, the research delves into factors driving the growth of the Indian logistics industry. Innovations and developments are seen as pivotal to economic progress, with intelligent logistics and smart transportation playing crucial roles. The Logistics Performance Index (LPI), a benchmarking tool by the World Bank, ranks countries based on logistics performance. In the 2023 report, India achieved an LPI rating of 3.4, securing the 38th position among 139 countries. The study substantiates the factors fueling the logistics industry with statistical evidence, highlighting technological advancements and the integration of IoT-enabled facilities as key drivers. Furthermore, the study discusses strategic initiatives aimed at enhancing India's logistics infrastructure. The PM Gati Shakti initiative seeks to streamline infrastructure development by promoting integrated planning and coordinated implementation across government departments. Concurrently, the National Logistics Policy (NLP) provides a comprehensive framework for the industry's development. Additionally, the Unified Logistics Interface Platform (ULIP) facilitates real-time information exchange among stakeholders, thereby simplifying logistics planning.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"14 20","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141661287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Stock Reverberation Due to International Trade Related Economic Factors 国际贸易相关经济因素导致的股票反弹

International Journal of Accounting and Business Finance Pub Date : 2024-07-10 DOI: 10.4038/ijabf.v10i1.155

R. Jeyalakshmi, R. Suresh, T. Prabaharan, B. Keerthana

{"title":"Stock Reverberation Due to International Trade Related Economic Factors","authors":"R. Jeyalakshmi, R. Suresh, T. Prabaharan, B. Keerthana","doi":"10.4038/ijabf.v10i1.155","DOIUrl":"https://doi.org/10.4038/ijabf.v10i1.155","url":null,"abstract":"The economic activities of a nation are measured through various macroeconomic factors such as GDP, EXIM rate, unemployment level, Wholesale Price Index (WPI), and Consumer Price Index (CPI). Numerous studies have focused on identifying the association between inflation and stock prices, with some also highlighting the relationship between gold prices and stock price volatility. This study uses exchange rate and balance of trade as indicators to predict stock price volatility in China. The stock price volatility is measured using the Shanghai Stock Exchange Composite Index (SSE Composite Index). An analytical method is employed to evaluate the involved variables, with Johansen integration used to determine the relationships between them. The Vector Error Correction Model (VECM) is utilized to model these relationships. The Granger causality test and Johansen co-integration test measure the causal relationships of economic variables on the stock market indices. The findings indicate that the exchange rate positively influences stock prices, whereas the balance of trade shows a negative relationship. The exchange rate Granger-causes stock prices, but the reverse is not true. A similar Granger-causing relationship exists between the balance of trade and stock prices. The study also reveals that while the exchange rate of RMB to USD may not have a strong impact on stock prices, the exchange rates of other currencies may significantly influence China's stock prices.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"78 24","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141662643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Unlocking the Secrets of Sensex Returns: The Crucial Role of Valuation in Different Time Horizons 揭开上证指数回报的秘密：不同时间范围内估值的关键作用

International Journal of Accounting and Business Finance Pub Date : 2024-07-10 DOI: 10.4038/ijabf.v10i1.151

K. V. Pradeep, K. Simmy

引用次数: 0

Critical Success Factors for Public-Private Partnerships in the Development of Mega Power Generation Infrastructures in Sri Lanka 斯里兰卡大型发电基础设施开发中公私合作伙伴关系的关键成功因素

International Journal of Accounting and Business Finance Pub Date : 2024-07-10 DOI: 10.4038/ijabf.v10i1.152

S. N. Fernando, K. G. M. Nanayakkara, A. K. N. S. S. Hapugoda

{"title":"Critical Success Factors for Public-Private Partnerships in the Development of Mega Power Generation Infrastructures in Sri Lanka","authors":"S. N. Fernando, K. G. M. Nanayakkara, A. K. N. S. S. Hapugoda","doi":"10.4038/ijabf.v10i1.152","DOIUrl":"https://doi.org/10.4038/ijabf.v10i1.152","url":null,"abstract":"Ceylon Electricity Board (CEB) seeks alternative financing through Public Private Partnerships (PPP) due to non-cost-reflective tariff losses and debt overhang, relying on maturity in critical success factors. Thus, the research examines the success factors of Public Private Partnerships in developing power generation infrastructures in Sri Lanka, using quantitative data from a questionnaire distributed to stakeholders in CEB. The data analysis tools of descriptive and inferential statistics were used to analyze the collected data. The economic viability of the project, credibility of government policies, legal and regulatory framework, equitable risk allocation, transparent and efficient procurement process, financial market, a strong and good private consortium, and political stability, were found as the main CSFs for the development of mega power plants. The study was concentrated on the public agency of CEB, for generalization investigation to be extended to private investors, practitioners, and policymakers in the power sector. Further, a comprehensive study on the exploration of CSF to attract private investors to PPP for the development of mega power plants in Sri Lanka would be most beneficial to the industry. The framework developed in this research would be the benchmark for identifying critical success factors for improvement in PPP projects in Sri Lanka.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"30 17","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141662286","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Unraveling the Interplay: Financial Inclusion's Impact on Growth, Trade Dynamics, and Foreign Investment – A Comprehensive Empirical Study 解读相互作用：金融包容性对经济增长、贸易动态和外国投资的影响--一项综合实证研究

International Journal of Accounting and Business Finance Pub Date : 2024-07-10 DOI: 10.4038/ijabf.v10i1.149

S. V. Kushwah, A. A. Siddiqui

{"title":"Unraveling the Interplay: Financial Inclusion's Impact on Growth, Trade Dynamics, and Foreign Investment – A Comprehensive Empirical Study","authors":"S. V. Kushwah, A. A. Siddiqui","doi":"10.4038/ijabf.v10i1.149","DOIUrl":"https://doi.org/10.4038/ijabf.v10i1.149","url":null,"abstract":"The present study develops a Financial Inclusion (FI) index and extends an interlinkage between FI and Economic Growth (EG). The study is the first to develop an FI index created for the main trading nations from 2001-2019 based on financial development, financial depth, and financial stability and creates an association between FI and EG, including trade and foreign investment. Once the FI index is constructed, panel data analysis is applied by examining the stationarity and cointegration of the series, followed by panel regression and causality tests. Findings highlight a strong interlinkage between FI, EG, trade, and foreign investment for the selected nations. It suggests that the nations emphasize financial inclusion to stimulate EG, enhance trade, and increase foreign investment inflows. Each of the three variables is highly integrated, as indicated in the results, and acts as prerequisites for each other. The study is a significant contribution to the field of FI, trade, and EG. As very few studies have been carried out for integrated analysis, this study helps devise policies for expanding further relationships between FI, trade, investment, and EG across nations. Moreover, this study is the first to select a time period that marks major events like the US-China Trade War (2018) and the Global Financial Crisis (2008). The results of this study are helpful to the governments and policymakers of various economies. They can improvise the existing policies and procedures related to trade and foreign investment to enhance FI and EG. It is seen that for each country, the effect of the variables selected is different. In terms of developing holistic and effective trade policies, each nation can assess the relationship between these four key macroeconomic variables.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"15 26","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141662435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exploring Mergers and Acquisitions in Public Accounting 探索公共会计中的并购

International Journal of Accounting and Business Finance Pub Date : 2023-07-12 DOI: 10.4038/ijabf.v9i1.134

J. McGowan, D. Norris

{"title":" Exploring Mergers and Acquisitions in Public Accounting","authors":"J. McGowan, D. Norris","doi":"10.4038/ijabf.v9i1.134","DOIUrl":"https://doi.org/10.4038/ijabf.v9i1.134","url":null,"abstract":"Mergers and acquisitions (M&A) assist public accounting firms in multiple ways. These transactions expand client services, open opportunities in consulting and wealth management, increase revenues, and secure talented personnel. This exploratory study looks to build a preliminary model surrounding the likelihood a firm participates in an M&A transaction. To do so, a sample of the top 100 accounting firms, as reported by Accounting Today in 2019, is utilized. This data is combined with hand-collected news reports of mergers or acquisitions that occurred in 2018. Utilizing logistic regression, the effects of different firm characteristics such as revenues, CEO gender, and management efficiency on the likelihood of a public accounting firm being involved in a merger or acquisition are presented. The model is significant, having a log likelihood of 74.65. This study contains limitations. As this study’s sample is confined to the top 100 firms and reflects a short time window, these results might not apply to all accounting firms. Further, not all accounting firms’ M&A transactions are public knowledge, which may result in a biased sample. However, these limitations do not prevent this study from providing value. This study is one of the few to explore M&A transactions in public accounting. As certain firm characteristics are found to be related to M&A activity, this paper provides a starting point for future research on this topic at a time when M&A activity in public accounting is gaining in popularity.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131892237","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Determinants of Foreign Direct Investment in India and Retail Sector Liberalization: A GMM Estimation 印度外商直接投资与零售业自由化的决定因素:一个GMM估计

International Journal of Accounting and Business Finance Pub Date : 2023-07-12 DOI: 10.4038/ijabf.v9i1.132

R. Manocha

引用次数: 0

Corporate Governance and Firm Value of the Auto Sector-An Empirical Evidence 汽车行业公司治理与企业价值——一个实证证据

International Journal of Accounting and Business Finance Pub Date : 2023-07-12 DOI: 10.4038/ijabf.v9i1.133

N. Chaudhary, R. Dhiman, P. Bhatia, V. Srivastava

{"title":"Corporate Governance and Firm Value of the Auto Sector-An Empirical Evidence","authors":"N. Chaudhary, R. Dhiman, P. Bhatia, V. Srivastava","doi":"10.4038/ijabf.v9i1.133","DOIUrl":"https://doi.org/10.4038/ijabf.v9i1.133","url":null,"abstract":"This study has aimed to investigate the most relevant governance variables which may affect automobile firms’ performance. The step-wise regression has been applied in stages on different variables incorporated in the study. The impact of all variables has been analyzed separately and model fit has been tested for 30 automobile firms. This research divulges that Chief Executive Officer (CEO) Duality was pointedly related to a firm’s performance, lending credence to the validity of the Stewardship theory. The number of independent directors on the audit committee, on the other hand, was found to be pointedly and negatively associated with firms’ performance and supported the agency theory. In this paper, the firm's size and age have a significant impact on Earnings Per Share (EPS). This study supports the stewardship theory and agency theory of corporate governance. The results expand the body of knowledge by providing empirical evidence that governance variables such as CEO duality and audit committee independence ratio have an impact on the performance of the firm. This study presents evidence that the duality of the CEO’s position and the independent audit committees is significant and of paramount importance.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131608070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0