Copernican Journal of Finance and Accounting最新文献

{"title":"IMPACT OF MICROFINANCE INSTITUTIONS ON FINANCIAL LITERACY IN NORTH CENTRAL GEO-POLITICAL ZONE NIGERIA","authors":"Ibrahim Majeed Ajibola, D. Saheed, Lukman Adedoyin","doi":"10.12775/CJFA.2020.019","DOIUrl":"https://doi.org/10.12775/CJFA.2020.019","url":null,"abstract":"Inclusive financial literacy through Microfinance Institutions activities is becoming a policy issue in both developed and developing nations of the world as it has been perceived as a veritable tool for economic development. This work examines the impact of Microfinance Institutions on financial Literacy in North Central Geo-Political Zone Nigeria. The specific objectives are to establish the relationship between saving mobilization as microfinance institutions operations and financial literacy, analyze the effect of microfinance institutions accessibility on E-banking platform usage and identify the effects of microfinance institutions activities on the financial decisions of the rural dwellers. Descriptive design method was adopted; 50 respondents was selected from each of the six Microfinance Institutions that was selected from each of the six states of the north central geo-political zone that serve as the fair representation of the population under study a total of 1800 questionnaires were administered out of which 1494 was returned. Data for the study were collected primarily through questionnaire from the 1494 respondents that serve as the fair representations for the population under study. The formulated hypotheses were tested with the aid of regression and correlation while preliminary test was done with the aid of Kolmogorov-Smirnov and Shapiro Wilk with a view to ascertain the normality of the data. Similarly, Reliability test was conducted with the aid of Cronbach’s Alpha. The overall results of the regression analysis reveals that a positive relationship exist between MFIs activities and financial literacy given cognizance to the reported coefficients on the adopted variables. Therefore, it was recommended that Government should promote financial sector deepening by licensing more microfinance institutions, to promote accessibility to finance among its populous to improve the level of financial literacy in Nigeria. This will increase their ability to save and borrow thereby contribute positively to economic development.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"204 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121498298","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}

{"title":"EXAMINING THE LONG MEMORY IN STOCK RETURNS AND LIQUIDITY IN INDIA","authors":"A. Bala, K. Gupta","doi":"10.12775/CJFA.2020.010","DOIUrl":"https://doi.org/10.12775/CJFA.2020.010","url":null,"abstract":"* Contact information: anjubala_attri@yahoo.in, I.K.Gujral Punjab Technical University, Kapurthala144603, Punjab, India, phone: +91-946-557-4763; ORCID ID: https://orcid.org/0000-0002-5808-8469. ** Contact information: kapilfutures@gmail.com, I.K. Gujral Punjab Technical University, Kapurthala-144603, Punjab, India, phone: +91-947-809-8074; ORCID ID: https:// orcid.org/0000-0003-3817-1772. Copernican Journal of Finance & Accounting","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115333735","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}

{"title":"MODERATING EFFECT OF FIRM SIZE ON CAPITAL STRUCTURE DETERMINANTS: EVIDENCE FROM INDIAN FOOD PROCESSING INDUSTRY","authors":"Rajeshri Desai, Jay Desai","doi":"10.12775/CJFA.2020.012","DOIUrl":"https://doi.org/10.12775/CJFA.2020.012","url":null,"abstract":"","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123568001","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}

{"title":"BOARD DILIGENCE AND FINANCIAL PERFORMANCE: EVIDENCE FROM NIGERIAN DEPOSIT MONEY BANKS","authors":"W. Sanyaolu, Babatunde Titus Adejumo, Idris Kadiri","doi":"10.12775/CJFA.2020.017","DOIUrl":"https://doi.org/10.12775/CJFA.2020.017","url":null,"abstract":"The study examined the effect of board diligence on financial performance of deposit money banks (DMBs) listed on the Nigerian Stock Exchange. Data of the 10 selected DBMs were obtained from their annual financial statements from 2012 to 2018 using an ex post facto research design and purposive sampling technique. The data were analysed using inferential statistics and the hypothesis was tested using Generalised Method of Moment (GMM). It was found that board diligence has significant negative effect on financial performance of Nigerian listed DBMs. As regards the controlled variables, only capital adequacy and firm size were found to positively and significantly influence financial performance. Liquidity ratio was found to have direct but no significant effect on financial performance while nonperforming loan negatively and insignificantly affect financial performance. The study concludes that board diligence reduces financial performance. It is therefore recommended that preference should be given to the quality of board meetings and not the frequency of such meetings; and that issues that have implications on performance should be given utmost attention at board meetings.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129439489","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}

{"title":"DETERMINATION OF THE BENEFITS AND RISKS OF PEER-TO-PEER (P2P) LENDING: A SOCIAL NETWORK TEORY APPROACH","authors":"Nadia Nahar Purkayastha, S. Tuzlukaya","doi":"10.12775/CJFA.2020.016","DOIUrl":"https://doi.org/10.12775/CJFA.2020.016","url":null,"abstract":"","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128532962","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}

{"title":"TIME-SERIES AND CROSS-SECTIONAL MOMENTUM IN INDIAN STOCK MARKET","authors":"Simarjeet Singh, Nidhi Walia","doi":"10.12775/CJFA.2020.018","DOIUrl":"https://doi.org/10.12775/CJFA.2020.018","url":null,"abstract":"Present study documents the significant time-series and cross-sectional momentum profits in Indian stock market. These profits remain significant even after adjusting market, size and value factors. Further time-series momentum effect remains significant when we hold securities for longer period signalling that time-series momentum do not reverse in the long run. When we compare the performances of time series and cross-sectional momentum payoffs, we find that time-series momentum strategies generate superior returns than cross-sectional momentum strategies and net long investments in time-series momentum strategies is the main source of difference between the performances of these two approaches.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"132 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131405927","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}

{"title":"ROLE OF MICROFINANCE INSTITUTIONS IN FINANCING MICRO AND SMALL ENTERPRISES IN ETHIOPIA","authors":"Betgilu Oshora, M. Fekete-Farkas, Zoltán Zéman","doi":"10.12775/CJFA.2020.015","DOIUrl":"https://doi.org/10.12775/CJFA.2020.015","url":null,"abstract":"Micro and Small Enterprises (MSEs) understood as a means to attain the United Nations 2030 agenda particularly its contribution in reducing the massive unemployment and deep-rooted poverty. Hence, the main aim of this paper is to examine the role of Microfinance Institutions (MFIs) to the survival, value creation and growth of MSEs. For this study purpose, secondary data were collected from the National Bank of Ethiopia (NBE) and triangulated with systematic review of empirical evidences. Principal Component Analysis (PCA) was used to examine the relationships and significance in and between the data emerge. The empirical evidences result reveals that unlike banks, MFIs provide diverse micro credit services to address the diverse socio-economic needs of the poor who cannot afford collateral requirement and besides the result from PCA reveals that the economic growth and access to microcredit service by itself is not enough to create more jobs as they are uncorrelated. However, the empirical evidences shows that, the poorest and most vulnerable people are being left behind due to lack of access to finance, poor market linkage and inadequate skill training among many other factors. Therefore, policy-makers have to develop regulatory frameworks that build sound financial institutions and encourage competition among one another.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133348175","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}

{"title":"CORPORATE GOVERNANCE AND POST-MERGER PERFORMANCE: EVIDENCE FROM US BANKS","authors":"Amira Neffati, Wided Khiari, Azhaar Lajmi","doi":"10.12775/CJFA.2020.014","DOIUrl":"https://doi.org/10.12775/CJFA.2020.014","url":null,"abstract":"","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"550 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114902850","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}

{"title":"MOBILE FINANCIAL SERVICES IN THE CONTEXT OF BANGLADESH","authors":"M. Kabir, S. S. Huda, O. Faruq","doi":"10.12775/CJFA.2020.013","DOIUrl":"https://doi.org/10.12775/CJFA.2020.013","url":null,"abstract":"","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127259475","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}

{"title":"SENTIMENTAL HERDING: THE ROLE OF COVID-19 CRISIS IN THE EGYPTIAN STOCK MARKET","authors":"Mostafa Hussein Abd-Alla","doi":"10.12775/CJFA.2020.009","DOIUrl":"https://doi.org/10.12775/CJFA.2020.009","url":null,"abstract":"This study aims to investigate the existence of herding behaviour during COVID-19 crisis in the Egyptian stock market by using firm-level data and employing different testing methodologies The study also investigates the existence of herding behaviour during COVID-19 crisis at the level of portfolios divided based on the size and the value factors The study used the nonlinear model proposed by Chang, Cheng and Khorana (2000) and the state-space model developed by Hwang and Salmon (2004) to measure herding behaviour The study found that the nonlinear model proposed by Chang et al (2000) lead to results indicating evidence of herding during COVID-19 crisis However, there was no evidence of herding behaviour during COVID-19 crisis when using the state-space model developed by Hwang and Salmon (2004) As for the level of portfolios, the study found evidence of herding during COVID-19 crisis only when using (Chang et al , 2000) methodology, at the level of the portfolio of stocks with low and high (B/M) ratio and the portfolio of big stocks only during COVID-19 crisis","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126763141","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}