International Journal of Economics, Finance and Management Sciences

Volume 3, Issue 3, June 2015

  • Challenges in the Funding Model of State Universities of Sao Paulo

    Helio Nogueira da Cruz, Carlos Antonio Luque, Alberto Teixeira Protti

    Issue: Volume 3, Issue 3, June 2015
    Pages: 148-155
    Received: Feb. 04, 2015
    Accepted: Apr. 03, 2015
    Published: Apr. 14, 2015
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    Abstract: This article presents an evaluation of the funding model of state universities in the State of Sao Paulo in a context of growing demand for high quality higher education, the improvement of the position of these universities in international rankings and the growth pressures on the budget of the educational sector of the State of Sao Paulo. Since 1... Show More
  • The Impact of Internal Control and Risk Management on Banks in Palestine

    Mohammed Bayyoud, Nermeen Ahmad Sayyad

    Issue: Volume 3, Issue 3, June 2015
    Pages: 156-161
    Received: Mar. 21, 2015
    Accepted: Apr. 03, 2015
    Published: Apr. 15, 2015
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    Abstract: The purpose of the study attempts to analyze the impact of internal control and risk management on banks in Palestine. The investigation helped in identifying the impacts of new banking reformations and rules on the risk assessment, identification, and mitigation in banks. It was also assessed that whether frauds and errors are reduced, different t... Show More
  • Analysis on the Policy Effect of Replacing Business Tax with Added-Value Tax

    Shaogang Liao, Ying Pan

    Issue: Volume 3, Issue 3, June 2015
    Pages: 162-171
    Received: Feb. 17, 2015
    Accepted: Mar. 13, 2015
    Published: Apr. 17, 2015
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    Abstract: In August 2013, the policy of replacing business tax with added-value tax (hereinafter referred to as VAT) was formally popularized to the whole national. It was an important measure of China comprehensively deepening the reform, readjusting the industrial structure and promoting the economic development. On the micro and macro aspects, the politic... Show More
  • The Comparison between Microcredit Finance and Community Development Finance to Alleviate the Extreme Poverty in Bangladesh: A Case Study of Shibalaya

    Idris Ali, Ashiqun Nabi

    Issue: Volume 3, Issue 3, June 2015
    Pages: 172-178
    Received: Apr. 06, 2015
    Accepted: Apr. 10, 2015
    Published: Apr. 21, 2015
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    Abstract: This paper explains the comparison between Microcredit Finance and Community Development Finance to alleviate the extreme poverty in Bangladesh. According to the theory, Microcredit is a small loan (microloan) to be provided to those who have less collateral, it supports entrepreneurship and alleviates poverty through empowering women and uplifting... Show More
  • Impact of Macroeconomic Variables on Economic Development of Bangladesh Since Liberation War: An Empirical Study

    Raad Mozib Lalon, Nusrat Jahan

    Issue: Volume 3, Issue 3, June 2015
    Pages: 179-193
    Received: Mar. 18, 2015
    Accepted: Apr. 07, 2015
    Published: Apr. 22, 2015
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    Abstract: The devastating economic situation after liberation war of Bangladesh in 1971 can again be transpired during the current as well as future democratic rulers as the state of the economic condition is currently facing possibly the most severe exigency since the macro-economic crisis of the late 1980s. The twin shocks emanating from the yawning fiscal... Show More
  • An Assessment of the Quality of Services of Kenya Power (KP) Ltd in Restoring Supply After Unplanned Interruptions Using Statistical Quality Control

    George Yogo Odongo, Christopher Ngacho

    Issue: Volume 3, Issue 3, June 2015
    Pages: 194-203
    Received: Mar. 30, 2015
    Accepted: Apr. 11, 2015
    Published: Apr. 24, 2015
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    Abstract: The purpose of this study was to apply statistical quality control (SQC) techniques and tools to assess the customer’s experience of quality as offered by Kenya Power Ltd. It also seeks to determine whether or not the services of the company were in statistical control. The study was designed as a descriptive survey. The population consisted of 65,... Show More
  • Critical Analysis of the Factors Affecting the Dividend Payout: Evidence from Pakistan

    Saghir Ahmed, Hasan Murtaza

    Issue: Volume 3, Issue 3, June 2015
    Pages: 204-212
    Received: Mar. 28, 2015
    Accepted: Apr. 10, 2015
    Published: Apr. 27, 2015
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    Abstract: The research was conducted to highlight the determinants of dividend payout and to analyse the effect of change in dividends over the future company growth in Pakistan. Firm size, liquidity, profitability, leverage, and earnings per share were used as independent variable while dividend payout ratio was taken as dependent variable. Prolonging this ... Show More
  • Stock Markets Linkages Before, During and After Subprimes Crisis: Bivariate BEKK GARCH (1, 1) and DCC Models

    Samar Zlitni Abdelkefi, Walid Khoufi

    Issue: Volume 3, Issue 3, June 2015
    Pages: 213-230
    Received: Feb. 18, 2015
    Accepted: Apr. 22, 2015
    Published: May 06, 2015
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    Abstract: The purpose of this paper is to apply the Bivariate BEKK- GARCH (1, 1) and DCC- GARCH models in evaluating volatility spillovers and dynamic conditional correlation between stock indices. In this paper, the causal relation between stock markets (Nasdaq and each of these indices: Cac 40, Dax 30, Ftse 100, Global Dow Hangseng, Nikkei 225, Russell 200... Show More
  • Effects of Gender Biasness on Child Immunization in Pakistan

    Samra Subhani, Sofia Anwar, Masood Ahmad Khan, Ghulam Jeelani, G. M. Subhani

    Issue: Volume 3, Issue 3, June 2015
    Pages: 231-234
    Received: Mar. 24, 2015
    Accepted: Apr. 24, 2015
    Published: May 06, 2015
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    Abstract: The study aimed to see the gender biasness in child immunization in Pakistan. Cross sectional data were taken from the DHS (Demographic and Health Survey) of Pakistan from year 2005-2006. Study has been done in department of economics Govt. College University Faisalabad from July 2013 – November 2013. Multilogistic model was applied to see the effe... Show More
  • Determinants of Effective Monitoring and Evaluation System of Public Health Programs: A Case Study of School-Based Hand Washing Program in Kwale County, Kenya

    Lamech Otieno Okello, Fred Mugambi

    Issue: Volume 3, Issue 3, June 2015
    Pages: 235-251
    Received: May 01, 2015
    Accepted: May 09, 2015
    Published: May 19, 2015
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    Abstract: The main objective of the study was to identify determinants of effective monitoring and evaluation of public health programs, a case study of School based hand washing project in Kwale County which is implemented by Ministry of Health, Ministry of Education and other partners. Monitoring and evaluation is an essential and critical undertaking in a... Show More
  • An Empirical Analysis of Population Growth on Economic Development: The Case Study of Bangladesh

    Shahjahan Ali, Khandaker Jahangir Alam, Shafiul Islam, Morshed Hossain

    Issue: Volume 3, Issue 3, June 2015
    Pages: 252-259
    Received: Apr. 29, 2015
    Accepted: May 11, 2015
    Published: May 21, 2015
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    Abstract: The population growth has a vital impact on economic development. There are two instructs of thought regarding this issue. Some researchers maintain that population has a negative impact on economic development while others are convinced that the effects are positive. Bangladesh’s population increased 430 percent over the year1950-2012. Multivariat... Show More
  • Influence of Enviromental Factors on Financing of Public Irrigation Projects in Kenya

    Quinter Omware Owawa, Alice Emily Osoro

    Issue: Volume 3, Issue 3, June 2015
    Pages: 260-269
    Received: May 07, 2015
    Accepted: May 11, 2015
    Published: May 21, 2015
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    Abstract: Project finance (PF) is a relatively new concept in developing countries as opposed to developed countries. PF has been used in development of Infrastructure in Energy sector (oil and gas, mining, electricity generation), water sector, telecommunication, roads and highway, railway, Irrigation and public services. Different scholars and experts have... Show More
  • The J-Curve Effect on the Trade Balance in Armenia

    Gevorg Grigoryan

    Issue: Volume 3, Issue 3, June 2015
    Pages: 270-278
    Received: Apr. 27, 2015
    Accepted: May 11, 2015
    Published: May 23, 2015
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    Abstract: Over the past years the Armenian Dram has appreciated against their major trading partners’ currencies. Such appreciation has received mixed reactions. Some economists argue that the depreciation of currencies is a good stimulant for export growth, while others argue that the net benefits of depreciation cannot outweigh its ills on the economy. The... Show More
  • Effect of Automation of Bond Trading on Bond Market Performance: The Case of Nairobi Securities Exchange

    Stephen Mbaya Kimwele, Mary Bosire, Monica Muiru, Simon Kamau

    Issue: Volume 3, Issue 3, June 2015
    Pages: 279-284
    Received: May 04, 2015
    Accepted: May 13, 2015
    Published: May 26, 2015
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    Abstract: The aim of this study was to investigate the effect of automation of bond trading on the performance of bond market at Nairobi Securities Exchange (NSE). Specifically the study sought to determine the effect of automated bond trading on trading volumes and to determine the effect of automated bond trading on market size. The study adopted a compara... Show More
  • Determinants of Liquidation of Government Securities Held by Banks in Uganda

    Kenneth Alpha Egesa, Bruno Max Ocaya, Leonard Kiboijana Atuhaire, Yeko Mwanga, Tom Nyanzi Makumbi, Xavier Mugisha

    Issue: Volume 3, Issue 3, June 2015
    Pages: 285-293
    Received: May 07, 2015
    Accepted: May 17, 2015
    Published: May 27, 2015
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    Abstract: This study analyzed the determinants of bank liquidation of government securities using panel logistic regression. The analysis showed that the liquidation of government securities by banks was motivated by reserve needs although some evidence of reluctance to borrow from the Central Bank was also noted. The main policy implications of the study in... Show More
  • Determinants of Investment in Government Securities by Banks in Uganda

    Kenneth Alpha Egesa, Bruno Max Ocaya, Leonard Kiboijana Atuhaire, Yeko Mwanga, Tom Nyanzi Makumbi, Xavier Mugisha

    Issue: Volume 3, Issue 3, June 2015
    Pages: 294-302
    Received: May 18, 2015
    Accepted: May 27, 2015
    Published: May 28, 2015
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    Abstract: This study analyzed the determinants of investments in securities by banks using the generalized method of moments regression technique. The results showed significant effects of continuous partial adjustments in the government securities held, capitalization, loan performance and bank size. To ensure continued demand for Government securities, reg... Show More
  • Factors Affecting Effectiveness of E-Procurement in Business Organizations, a Survey of Safaricom Dealers in Nakuru CBD-Kenya

    Eunice Waruguru, Sophia Nduta Kiruri

    Issue: Volume 3, Issue 3, June 2015
    Pages: 303-310
    Received: May 13, 2015
    Accepted: May 20, 2015
    Published: Jun. 02, 2015
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    Abstract: The study focused on establishing factors affecting effectiveness of e-procurement in business organizations. It was carried out among Safaricom dealers in Nakuru Central Business District (CBD). The specific objectives that guided the study were: to find out how e-security affects effectiveness of e-procurement among Safaricom dealers in Nakuru CB... Show More
  • Time Management of Slovak Managers

    Elena Thomasova, Zuzana Skorkova

    Issue: Volume 3, Issue 3, June 2015
    Pages: 311-318
    Received: Mar. 18, 2015
    Accepted: May 20, 2015
    Published: Jun. 04, 2015
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    Abstract: The following article deals with the problem of time management in the life of the manager. Time is very valuable commodity and lot of managers feel that they do not have enough time to do their jobs to their full potential. The use of time must be explicitly managed, just like money. The goal of our research was the examination of the efficient us... Show More
  • An Assessment of Leadership Styles and Employee Performance in Small and Medium Enterprises in Yola, Adamawa State, Nigeria

    Fadimatu Jalal-Eddeen

    Issue: Volume 3, Issue 3, June 2015
    Pages: 319-324
    Received: May 13, 2015
    Accepted: May 23, 2015
    Published: Jun. 05, 2015
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    Abstract: Background: SMEs are generally regarded as an important engine driving the growth of many economies as well as providing opportunities for job creation and rural development, which accounts for 10 % of the total manufacturing output and 70% of employment in Nigeria. In view of the importance of SMEs, a sector that has the potential for solving Nige... Show More
  • Determinants of Financial Independence in Developing Countries (A Case Study of Kenya)

    Dennis Muturi Muthara, Jane Ndirangu-Muiruri, William Kazungu Kingi

    Issue: Volume 3, Issue 3, June 2015
    Pages: 325-329
    Received: May 14, 2015
    Accepted: May 29, 2015
    Published: Jun. 11, 2015
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    Abstract: The main objective of this study was to examine the determinants of financial independence in developing countries, with focus on Kenya. Two theories were looked into, the Dependency Theory and the Classical Dependency Theory. The research was based on fourteen departments in the Kenyan government. The three variables examined in this study include... Show More