Journal of Investment Management最新文献

{"title":"Privatization Modalities and Business Valuation: An Ethiopian Focus","authors":"Fentaw Leykun","doi":"10.11648/J.JIM.20200901.13","DOIUrl":"https://doi.org/10.11648/J.JIM.20200901.13","url":null,"abstract":"This paper has been ignited as a result of the current privatization movement by the Ethiopian government straight away as soon as the new prime minister comes into the position. The main motive of the government, behind the decision to privatize public enterprise to the local and foreign investor, was, inter alia, to limit government’s participation in the manufacturing and service sectors of the economy so as to transfer the scarce resources from owned by inefficient public sector enterprises to efficient private entrepreneurs and to re-deploy such resources in higher prioritize and efficient private enterprises and to meet poverty reduction programs in a given economy, and thereby increase foreign exchange and alleviate the problem of good governance. In line with this agenda, various privatization modalities, theoretical debates, and arguments on such a privatization, and the various business valuation approaches have been critically reviewed via considering the current political and economic conditions of the country, and finally, contextual privatization strategies and business valuation methods have been implied at least to fairly redistribute wealth, institutionalize stock market and mitigate the common mistakes in the process of privatization of such public companies.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47589476","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":"Marketing Channel and Margin Analysis of Wheat the Case of Debre Elias Woreda, North Western Ethiopia","authors":"Mezgebu Aynalem","doi":"10.11648/J.JIM.20200901.12","DOIUrl":"https://doi.org/10.11648/J.JIM.20200901.12","url":null,"abstract":"The result of this study was analyzing the market chain of wheat in Debre Elias woreda. Specifically aims to analyze the market structure-conduct-performance of wheat market. To collect primary data, 154 wheat producers were selected using simple random sampling method and 31 traders were selected purposively. To address the objectives of the study, descriptive statistics were used. The result indicated that Debre Elias wheat market was inefficient, characterized by oligopolistic market structure. The major barrier to enter into the market was shortage of capital. Licensing and years of trading experience did not hinder entry into wheat trading activities. Moreover, the markets were overwhelmed by information asymmetry with low degree of market transparency. Problems like oligopolistic market structure and information asymmetry made the trading business uncompetitive and inefficient. The study recommends the agricultural sector should improve wheat production capacity by providing new technologies and create stablemarket system for farmer’s surplus production.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44230210","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":"The Politics of Private Sector Investment in Local Economic Development: Local Governance and Regulatory Frameworks in Gurage Zone, Ethiopia","authors":"Wassihun Gebreegizaber Woldesenbet, T. Worku, Bekalu Wachiso Gichamo","doi":"10.11648/J.JIM.20200901.11","DOIUrl":"https://doi.org/10.11648/J.JIM.20200901.11","url":null,"abstract":"Private investment is one of the prominent approaches to local economic development. The focus of this study is the exploration of the political elements of private investment in local economic development activities in the backgrounds of local governance. A combination of quantitative and qualitative research methods challenged the idea that private investment, considered economically, contributes to local economic development, an assumption that isolates private investment from the surrounding environments. Therefore, the study found out that private investment in Gurage Zone has been showing an inconsistent trend in terms of its contribution to land development, employment creation, and capital generation. This inconsistency is reflective of the nature of private investment which is a depoliticized, delocalized, and de-bureaucratized program highly isolated from the local realities. This again is related to the detrimental effect of local governance structure which is fragmented, asymmetrical, poorly structured, and de-contextualized, thereby creating weak-bureaucratic services, inefficient partnership, and poorly structured governance platforms. Thus, the study concludes that private investment in Gurage zone is being restrained because of its isolation from the local realities, political imperatives, bureaucratic networks, and resource contexts, supposed to be controlled by the local governments.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48955798","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":"Impact of Rewards Management System on Employees’ Satisfaction in Case of DebreBirhan University Administrative Staffs","authors":"Gebayaw Adugna Admassie","doi":"10.11648/j.jim.20190801.13","DOIUrl":"https://doi.org/10.11648/j.jim.20190801.13","url":null,"abstract":"Reward management is concerned with the processes of developing, implementing, operating and evaluating reward policies and practices that recognize and value people according to the efforts and contributions they make towards achieving organizational, departmental and team goals. Employee satisfaction is the degree to which an employee has positive emotions towards the work and organization. The objective of the study is to determine the impact of reward management system on employees’ satisfaction in Debire Birhan University administrative staffs in Ethiopia. The sample size of the study contained 280 administrative staffs in the different departments’’ of University. Data was collected using structured questionnaire technique. The data obtained was processed using the statistical package for social science (SPSS) and was analyzed using both descriptive and inferential statistics. The result discussion indicate that there was a moderate significant positive relationship between transparency of reward system and Employees satisfaction (r =0.582, p< 0.00), Fair distribution reward system and Employees satisfaction (r =0.562, p< 0.00). Low significant positive relationship between Equity reward system and employees satisfaction (r = 0.336, p< 0.00); Consistency and continuity of reward system and Employees satisfaction (r =0.388, p< 0.00). The study found that reward management system collectively have significant effect on employees satisfaction. The study recommends that the university reward management system should be transparency, equity, fair distribution and consistency among administrative staffs in the university. The university should be developing channels of communication for making transparency and clarity of reward management system to administrative staffs.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2019-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64818348","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":"Modelling on Stock Investment Valuation for Long-term Strategy","authors":"Shamsul Rijal Muhammad Sabri, Wajeeh Mustafa Sarsour","doi":"10.11648/j.jim.20190803.11","DOIUrl":"https://doi.org/10.11648/j.jim.20190803.11","url":null,"abstract":"","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64818601","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":"Effect of Inflation on Economic Growth of Ethiopia","authors":"Tizita Gebeyehu Yismaw","doi":"10.11648/j.jim.20190802.13","DOIUrl":"https://doi.org/10.11648/j.jim.20190802.13","url":null,"abstract":"","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64818481","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":"Factors Affecting Profitability of Banks: Empirical Evidence from Ethiopian Private Commercial Banks","authors":"Yalemselam Worku Bogale","doi":"10.11648/j.jim.20190801.12","DOIUrl":"https://doi.org/10.11648/j.jim.20190801.12","url":null,"abstract":"","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64818756","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 Social Responsibility Practices, Determinants and Challenges; Theoretical and Empirical Lesson for Effective and Successful Engagement","authors":"Birhanu Ayalew","doi":"10.11648/j.jim.20180706.11","DOIUrl":"https://doi.org/10.11648/j.jim.20180706.11","url":null,"abstract":"In recent times, there has been an increasing interest in understanding the concept of corporate social responsibility in developing countries. However, many of the studies fails to investigate the contextual factors that influence CSR Practices, preferring to rely on theories and hypothesis developed from studies undertaken in the west. Very little is known of the practice of CSR in developing countries. The purpose of this article review is to systematically review scholarly articles on CSR engagement to find out best practice, determinants and challenges. And the result indicates that; firm characteristics, corporate governance characteristics, institutional characteristics, socio economic and socio cultural context are identified as determinants and selectively use western approaches that can be useful or use hybrid approach is keyed out as best practice for effective CSR engagement. However, lack of community participation in CSR activities, non-availability of well-organized NGOs, narrow perception towards CSR initiatives due to early stage of its evolution, non-availability of clear CSR guidelines, lack of consensus on implementing CSR issues, lack of enough attention in terms of societal context in the CSR literature, lack of direct involvement in terms of providing instruction and exerting pressure from the parent companies of the MNCs on the local CSR initiatives which coupled with challenges impeding CSR practices or engagements. Furthermore, it was concluded that establish CSR center in order to foster CSR in the country and promote academic research in this field, encouraging the private sector participation together with NGOs within the frame work of responsible business practice, strengthen and develop CSR institutions in Ethiopia to create more awareness of the potential of CSR and integration of local values with the international standardization are recommended as suggestions to bring better implementation of CSR practice in the country.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2018-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47998513","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":"Determinants of Rural Household Saving: The Case of North Shewa Zone, Amhara Regional State, Ethiopia","authors":"Alebachew Goshim Azeref, Yohanes Tefera Gelagil","doi":"10.11648/J.JIM.20180705.13","DOIUrl":"https://doi.org/10.11648/J.JIM.20180705.13","url":null,"abstract":"Long-term economic growth requires capital investment – in infrastructure, education and technology, business expansion, and so forth – and the main domestic source of funds for capital investment is saving by household. In developing countries, economic fluctuations and climate risk lead to important income variations and leave the households vulnerable to severe hardship and challenges. Moreover, their social coverage is restricted and the credit and insurance markets are not well developed and civilized. The study aims at investigating the determinants of households’ saving in north shewa zone of amhara region. Data of 150 respondents are drawn through field survey in 2017/18 by adopting multistage random sampling technique. Questions are asked directly from head of household about their education level, family size, age, amount of savings per year in birr, assets, income etc. Sample contains information about rural households. Ordinary Least Square method is used for estimation. Ordinary Least Square method analysis presents determinants of households’ saving in the zone. Based on the result it is concluded that, total dependency rate, total income of household and family size significantly raise household savings. Education of household head, sex, household landholdings, marital status, and livestock size of the households reduce saving level of households. This study also supports existence of Life cycle hypothesis. Based on the results, study suggests that Government should provide free education materials and scholarships to the students at school, college and university levels. So that household can save more rather than spending on their education. Institutions that are involved in development projects need to increase their support to improve the business environment of the rural populations. Such decisions include improvement in the Transport and communication infrastructure. Also of importance is increased involvement of the government in services that support economic activities in the rural areas such as, electricity, water, extension services and marketing channels. Future research must be conducted which takes into account nonmonetary saving of rural households.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2018-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43604623","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 Financial Institution on the Growth of Small and Medium Enterprises:-The Case in North Shewa Zone, Amhara Region, Ethiopia","authors":"Alebachew Goshim Azeref, Yohanes Tefera Gelagil","doi":"10.11648/J.JIM.20180705.12","DOIUrl":"https://doi.org/10.11648/J.JIM.20180705.12","url":null,"abstract":"The objective of this study was to investigate the role of financial institutions on the growth of small and medium enterprises and to give recommendations based on the problems. Despite the tremendous increase in number of SMEs, little research exists that examines role of financial institutions; banks and microfinance institutions; on the growth of small and medium enterprises in developing countries, especially in Ethiopia specifically in north shewa zone of Amhara region. SMEs occupy a prominent position in the development agenda of many developing countries like us. Primary data were collected from 102SMEs in north shewa zone. Data from the respondents was tabulated for descriptive purpose and analyzed and translated into useful information using the statistical package for social sciences (SPSS). Therefore the study identifies size of loan, lower borrowing cost and saving account has positive relationship with growth of small and medium enterprise and the influence of these variables was significant. On the other hand there was positive relationship between duration of loan, simplicity of criteria, follow up & supervision and growth of SMEs. But the influence is relatively insignificance. The study recommends that the government and financial intuitions to make credit available and affordable to SMEs reducing the traditional barriers to SMEs financing, make financial intuitions products & services without unattainable criteria and at lower borrowing cost, setup mechanisms of training for SMEs before and after the loan. The study also recommends that make saving account easily accessible facilitated with technology for their growth.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2018-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43596679","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}