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Evaluation of financial soundness of Indian auto Ancillary industries using Altman Z-rate model
, Pages: 67-72 K. Krishnamoorthy and R. Vijayapriya PDF (650K) |
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Abstract: The automobile industry is an obvious indication of a country's economic development. Because it requires high performance and quality parts, it is also an innovation and comprehension intensive sector. Because of its deep forward and backward links with many key segments of the economy, the automobile sector is also prominent in India. Because of the strong supply support provided by various auto ancillary manufacturing companies, this sector has a strong multiplier effect and has the potential to be a driver of economic growth. The auto ancillary market is focused on the production and sale of transitional equipment and automotive parts used in the manufacture of automobiles. It is an important part of India's automotive industry. Such industries allow vehicle manufacturers to concentrate on their core competencies. The auto ancillary manufacturing Industry, with its high growth prospects, is one of the emerging industries in Indian markets. The Altman Z rating is a beneficial expedient for identifying a company's economic resilience and the probability of insolvency. The Z rating method was once used in this to find out to check the economic fitness of Indian auto ancillary manufacturing companies. The economic facts of 10 auto ancillary manufacturing companies listed groups on the National Stock Exchange (NSE) have been used to study each unique and rising market Altman Z rating formulae. The findings point out that not all the enterprises listed on the NSE are financially healthy. According to the study, some of the Indian auto ancillary manufacturing companies are sound and dependable without few companies, and some of the auto ancillary manufacturing companies are not likely to face monetary misery or insolvency soon. DOI: 10.5267/j.ac.2023.1.002 Keywords: Auto ancillary, Growth prospects, Financial health, Altman Z rate, Financial distress
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Shared economy development model with economic development approach in Iran's sports industry
, Pages: 73-84 Zohre Sharei and Alireza Zare PDF (650K) |
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Abstract: This study aimed to develop a model for developing a shared economy with an economic development approach in the Iranian sports industry. The research method was a two-stage exploratory combination of instrument making. In the qualitative part, the purposeful sampling method and theoretical saturation technique were performed. The tools used were to identify semi-structured interviews (with focus groups) and study documents. To ensure the validity and reliability of the study, the Lincoln and Guba evaluation methods were used. In the quantitative part, the research method was a descriptive survey. The statistical population was the economic activists in sports and sports marketing students. According to Cochran’s sample size determination formula, 384 people were considered as the sample. to collect data from the questionnaire of the framework model of the shared economy model in sports with an economic development approach that includes 43 items that have been extracted according to the theoretical foundations and the qualitative part of the research. Eight professors of sports management were used to evaluate the face validity and the carcass model was used for the content validity of the questionnaire questions. (CVR=0.86) and content validity was confirmed. Cronbach's approved alpha was also used. Descriptive statistics and structural equation modeling were used to analyze the data to evaluate the fit of the research model. The results of the research in the qualitative section showed that after examining the Delphi method and performing the first stage, 31 items were identified. In the second stage, 40 items were identified, and in the third stage; Finally, 50 items were identified. The three dimensions of human ecology, fiscal policy, and value-oriented processes emerged as a framework for the model of a shared economy in sports with an economic development approach. And in the quantitative part, the human ecology dimension with a value of 0.71 affects the value-oriented process dimension with a value of 0.65 and the fiscal policy dimension with a value of 0.63 affects the framework for the development of a shared economy in sport. The results also showed that the research model has a good fit. Therefore, it is suggested that the sports organizations' managers pay attention to the factors of this research to implement economic development by emphasizing a shared economy. DOI: 10.5267/j.ac.2023.1.001 Keywords: Common economy, Sports industry, Fiscal policy dimension, Economic development
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The effects of customer relationship management, service quality and relationship marketing on customer retention: The mediation role of bank customer retention in Indonesia
, Pages: 85-94 Budi Jaya Sugiato, Slamet Riyadi and Endah Budiarti PDF (650K) |
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Abstract: This study aims to examine customer retention (CR) from the aspect of customer satisfaction with customer relationship management (CRM), service quality and marketing relations (RM). State-owned bank customers selected the research population in all branch offices in the Madura region, and data were collected through a Likert scale model questionnaire. The results of the path analysis using the structural analysis model (SEM) show that there is an influence of CRM on customer satisfaction; there is an effect of service quality on customer satisfaction; there is an effect of RM on customer satisfaction; CRM through customer satisfaction affects CR; service quality through customer satisfaction affects CR; RM through customer satisfaction affects CR; there is an effect of customer satisfaction on CR on customers. Then the simultaneous test shows that simultaneously RM, service quality, and RM impact customer satisfaction, and the value of coefficient of determination (R-Square) explains that CRM, service quality, and RM can effectively contribute to customer satisfaction. Simultaneously, CRM, service quality, and RM affect CR. CRM, service quality, and RM affect CR mediated by customer satisfaction. CRM, service quality, and RM, through customer satisfaction, can effectively contribute to CR to customers of state-owned bank Regional Offices. DOI: 10.5267/j.ac.2022.12.004 Keywords: Customer Relations Management, Service Quality, Relationship Marketing, Customer Satisfaction, Customer Retention
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4. |
Bibliometric analysis of risk measures for portfolio optimization
, Pages: 95-108 Hossein Ghanbari, Mojtaba Safari, Rouzbeh Ghousi, Emran Mohammadi and Nawapon Nakharutai PDF (650K) |
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Abstract: Portfolio optimization aims to minimize risk and maximize return on investment by determining the best combination of securities and proportions. The variance in portfolio optimization models is typically used for a measure of risk. Over the last few decades, portfolio optimization utilizing a variety of risk measures has grown significantly, and many studies have been conducted. Therefore, this paper provides a systematic review of risk measures for portfolio optimization using bibliometric analysis and maps to analyze the evolution and trends of 682 articles published between 2000 and 2022. Throughout this analysis, communication networks among articles, authors, sources, countries, and keywords are explored. Furthermore, a classification of risks and risk measures were presented to demonstrate a comprehensive overview of the field, and the top 50 papers were analyzed to determine which risk measures were most often used in recent studies. DOI: 10.5267/j.ac.2022.12.003 Keywords: Portfolio optimization, Risk measures, Bibliometric analysis, Value at risk, Conditional value at risk
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5. |
The risk premium in times of financial crisis: an assessment from ICAPM on the MENA region
, Pages: 109-120 Fatma Khalfallah PDF (650K) |
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Abstract: The purpose of our research is to study the impact of financial crisis on Risk premium evolution for a set of emerging countries of MENA (Middle East and North Africa), giving special attention to the appreciation of the local risk premium in addition to the currency risk premium through the study of the dynamics of the financial integration under two assumptions: perfect integration and partial segmentation. At the methodological level, we test a conditional version of the international model of the financial assets ICAPM of De initially proposed by Adler and Dumas 1983 [Adler, M., & Dumas, B. (1983). International portfolio choice and corporation finance: A synthesis. The Journal of Finance, 38(3), 925-984.]. Our analysis is based on the conditional model of regime change of Bekaert and Harvey (1995) [Bekaert, G., & Harvey, C. R. (1995). Time‐varying world market integration. The Journal of Finance, 50(2), 403-444.], we follow the econometric modeling using the Kalman filter and the Markov regime-switching model with variable transition probabilities. DOI: 10.5267/j.ac.2022.12.002 Keywords: Financial crisis, ICAPM, Local risk premium, Financial integration
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6. |
Money laundering conviction rate and capital formation in Nigeria
, Pages: 121-130 Okubokeme Derek Opudu and Stanley Ogoun PDF (650K) |
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Abstract: Drawing from the Financial Action Task Force (FATF, G7) recommendations and the Nigeria Anti-Money Laundering Act that provides the penance and dissuasion for crimes in Nigeria, this study sought to interrogate the efficacy of money laundering conviction rate as an instrument of anti-money laundering policy on capital formation in Nigeria. The study is hinged on contemporary deterrence theory. The study adopted the ex-post facto research design and used quarterly data from 1Q 2010 to 4Q 2019, which was sourced from the Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crime Commission (EFCC) and CBN statistical reports. Hence, Error Correction Model (ECM) was utilized to analyze the data. The findings indicate that the current money laundering conviction rate (MLCR) has a negative and non-significant effect on capital formation in Nigeria. Therefore, the study concludes that the current conviction rate is too weak to deter the act. Hence, it is recommended that the judicial system be rejigged with enabling legislation and autonomy to strengthen it to hasten the trial of such cases and ease conviction of culpable individuals, without necessarily putting innocent victims at jeopardy. Such autonomy should also be granted to the EFCC, ICPC, NFIU etc. and inter-agency synergy should be encouraged. DOI: 10.5267/j.ac.2022.12.001 Keywords: Money laundering Conviction Rate, Capital Formation, Deterrence theory, Money laundering
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