IOSR-JEF   Volume-9 ~ Issue-5 ~ Sep-Oct 2018

Abstract: The study has attempted to analyse the performance of select banks based on different indicators which are relevant in examining the performance of banks in financing different types of loans in Aizawl City, Mizoram. Banks in Aizawl are playing a dominant role for the economic development of the state through financing of loans. Ten banks were selected for the study and the study focussed on the amount of loans financed by these banks and the numbers of beneficiaries availing such loans. The indicators employed were Credit Deposit Ratio, financing of agricultural loans, financing of women and housing loan finance. The performance comparison is then carried out on a single indicator basis under which the selected banks were compared. The data are based on the quarter-end reports i.e. March end, of the State Level Bankers' Committee (SLBC) of the five consecutive study periods........

Keywords: banks, performance, indicators, financing, analysis

Abstract: This study aims to find the empirical evidence of the reaction of Indonesian capital market investors toward the simultaneous regional elections in Indonesia 2018. The population in this study is the consistent stocks listed in LQ 45 during this study period. The data used is secondary data in the form of stock price and daily LQ-45 index five days before and after the election. The statistical tests used to test the hypothesis areOne sample t-test and Paired samples t-test. The results of One sample t-test showed that there is a significant negative abnormal return around the date of the election. It means that the investors responded to this simultaneous regional election as bad news. The results of Paired samples t-testshowed that there..........

Keywards: Capital Markets, Event Study, Abnormal Return, Investor reaction

Abstract: Agency banking is a phenomenon in which non-banking entities offer financial products and services. Though the market for agency banking in Kenya is growing and unsaturated, existing disparities between growth of agencies and the growth of their transactions across the country hints at operational challenges. This study aimed at determining how structure of start-up capital influences operational performance of individual bank agents in Kenya. This study was grounded on agency theory and stewardship. It adopted a descriptive survey design and sampled 86 individual bank agents. A structured questionnaire that was tested through a pilot study was used to collect primary data. Descriptive and Quantitative data analysis were carried out.Descriptive data.........

Keywards: (Agency Banking, Money Transfer, Operational Performance, Startup Capital)

Abstract: Financial leverage is the ratio of debt and equity, which states the relationship between borrowed funds and owner's funds in the capital structure of the firm. Studies from literature review confirms that firms that rely on only equity are referred to as unlevered firms while those that rely on both debt and equity are referred to as levered firms. Specific objective of the study was to determine the effect of debt equity on profitability of Micro Finance banks in Kakamega County. The research design used descriptive research design and the target population of the study consists of top and middle level managers of 9 microfinance banks in Kakamega County represented by 55 employees. The study was done on a census scale since data was collected using questionnaires. Data was then be analyzed...........

Keywards: Debt Equity Ratio, Profitability, Financial Leverage, Microfinance Bank, Kakamega County

Abstract: The purpose of this study is to empirically investigate the effects of human development and capital stock on income inequality across 33 provinces in Indonesia over the period from 2012 to 2017. Annual data of human development index, capital stock, and inequality index were analyzed using the multiple panel regression. Based on the fixed effect model of panel data analysis, the study found that both human development and capital stock affected significantly and negatively income inequality across 33 provinces in Indonesia. These findings imply that, to reduce the income inequality nationwide, the government of Indonesia should focus on improving the dimensions of human development index by allocating more budgets on economic, educational, and health sectors. Additionally, the government should provide conducive environment for the domestic and foreign investors to attract more investment in the country

Keywards: Capital stock, Human development, Income inequality, Panel data.

Abstract: Developing countries, in terms of the knowledge and knowledge economy, they have difficulties in catching up with developed countries (Foray, 2009; El Mouhoud, 2011). The reasons which explain these difficulties are numerous (educational, institutional, structural…). One of them resides in the weakness of their National System of Innovation to absorb knowledge emanating of the developed countries, in oder way to assimilate, adapt and develop them (Cohen, Levinthal, 1990; Nurbel, Ahamada, 2008; Ben Soltane, Zoukri, 2016). The frugal and reversed innovations offer offer them an opportunity to develop new skills with many projects, ensuring of the blow the creation of jobs, the spread of entrepreneurial spirit ... what is not without incidence on the development of the social economy and which could also impact the environmental protection positively. These innovations..........

Keywards: Innovation, social economy, frugal innovation, reversed innovation, economy of knowledge.

Abstract: Exchange Rate Volatility is a most prominent term in the financial econometrics. This Study aimed to estimate the changes in volatility of exchange rates focused on LKR/USD for the period of January 2000 to August 2018. Exchange rate return series were tested incorporating GARCH (Generalized Autoregressive Conditional Heteroscedasticity) family models with daily basis data. All the models are investigated using three different distributional approaches, Student t, Normal(Gaussian) and Generalized Error Distribution focusing on Mean variance and the conditional variance with the AR(2) effect. In-sample data were tested using forecast estimates of MASE, MAE and MAPE. Under the assumption generalized error distribution, best fitted model of measuring the LKR/USD daily exchange rate volatility is the AR(2)-GARCH(1,1) model. Final model is statistically significant at 5% confidence level and the residuals are deviate from the normality. This study reveals that the LKR/USD exchange rate returns are responding faster with the global Market fluctuations.

Keywards: ARMA Model, Exchange Rate Volatility, GARCH Model, Leverage Effect

Abstract: Arising from the unsettled debate of the relationship between foreign direct investment (FDI) and economic growth in developing countries, this paper further examines the relationship, drawing inference from Nigeria, with a view to contributing to the on-going debate. Adopting co-integration and error correction methodology, the paper revealed that Nigeria has fared very well in the nexus between FDI and economic growth, asthe former impacted positively and significantly on the latter in Nigeria, within the period under review. Domestic investment and stock of human capital were also found to have contributed significantly to growth in Nigeria. However, labour force and openness of the economy impacted insignificantly to growth. Consequently, the paper recommended..............

Keywards:FDI, Economic growth, Developing Countries, Nigeria, Openness, Co-integration and Error Correction mechanism.

Abstract: Life insurance plays an important role in individuals and families financing by providing a hedge against loss of income following the loss of the wage earner. However, data from Association of Kenya Insurers (AKI), reports that in life insurance in Kenya uptake is at 6% leaving a majority of Kenyans uninsured and vulnerable to financial risk and loss, further life insurance penetration in 2014 had dropped to 1.87% from 2.28% in 2013. The purpose of this study was to determinewhether price of life insurance influences the uptake of life insurance in Kenya. This study was based on adaptation level theory.Stratified random sampling technique was used to determine the respondents from a sample of 100. A close ended questionnaire was used to collect data from the respondents.............

Abstract: Considering the significance of a monetary union, the five countries of East African Community have had a quest and interest of forming the union. The Theory of Optimum Currency Area (OCA) is the most instructive construct in the establishment of such a financial union. The theory has listed out several important criteria that need to be fulfilled before the establishment of monetary union. This study examined two aspects of the monetary union, that is, the suitability of the OCA theory as a basis for the feasibility of the proposed monetary union and the prospective impact of trade on economic growth in the context of the East African Community (EAC) countries............

Keywards: Feasibility, Monetary Union, Convergence Criteria, Gravity Model, Kenya