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International Journal of Finance Research
ISSN : -     EISSN : 2746136X     DOI : 10.47747
Core Subject : Economy, Social,
International Journal of Finance Research (IJFR) is a peer-reviewed journal which publishes original research papers. IJFR has been published since 2020. It is currently published quarterly (March, June, September & December). Areas of research include, but are not limited to Finance and Investment, capital markets, financial institutions, corporate finance & corporate governance. e-ISSN: 2746-136X. The Digital Object Identifier (DOI) is assigned to each published article and the journal is indexed by Crossref, Neliti.Com, Dimensions and Google Scholar.
Articles 131 Documents
Impacts of Firm Internationalization, Green Procurement and Organizational Performance of University College Hospital, Ibadan, Nigeria Oyedokun, Godwin Emmanuel; Garba, Mariam Abiola
International Journal of Finance Research Vol. 3 No. 4 (2022): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v3i4.876

Abstract

The procurement system invariably suffers various forms of malpractices and unethical conduct which includes a high incidence of vested interest, contract inflation, delay in suppliers’ payment, and increased procurement cycle. The review explored impacts of firm internationalization, green procurement and organizational performance of University College Hospital (UCH), Ibadan. Theory considered for this study is the agency theory.  Descriptive and survey design was embraced for the review. The populace in the review contained 158. A stratified sampling technique was used and the strata’s are procurement, stores, payment units (Account), and the different end user’s department. An organized poll was directed. The instrument was approved, and the information assembled was broken down utilizing mean standard deviation, and correlation analysis. Out of the 158 polls directed, 136 were recovered (86% reaction rate). The review discovered that green procurement (mean worth 4.3145), negotiation management (mean worth 4.2581), competitive bidding (mean worth 4.2581) and its correlation co-efficient: (green procurement 0.214, negotiation management 0.737, competitive bidding 0.230) was found to have a positive and significant effect on organizational performance of UCH, Ibadan. The study subsequently inferred that green procurement did not lead to client’s satisfaction. However, green procurement leads to an increase in service quality, product quality, source reduction and waste management. Based on the findings, it is therefore recommended that more financial resources should be made available for the acquisition of substitute products and public awareness on the need to conserve the environment through green procurement.  
Differences in The Company's Financial Performance Before And After Corporate Action On The Indonesia Stock Exchange Putra, Buja Andri Kisa; Fatimah, Fatimah; Choiriyah, Choiriyah; Moelyatie, Trisniarty Adjeng
International Journal of Finance Research Vol. 3 No. 3 (2022): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v3i3.903

Abstract

This study aims to determine the differences in the company's financial performance before and after corporate action on the Indonesia Stock Exchange. The research method used is the comparative method, the sampling method used is purposive sampling, and the sample used is 13 companies. The data required is secondary data obtained from the Indonesia Stock Exchange through the website www.idx.co.id, and the data collection method uses the documentation method in the form of annual financial reports. The analysis technique used in this research is the technique of financial ratio analysis, normality test and Paired sample t-Test. The results of the Paired sample t-Test test stated that there was no significant difference before and after the company took corporate action as measured by the Current Ratio, Quick Ratio, Debt to Equity Ratio, Debt to Asset Ratio, Total Assets Turnover, Fixed Assets Turnover, Return on Equity, Return on Assets, Price to Book Value, and Price Earnings Ratio. Both from 1 year before and 1 year after, to 5 years before and 5 years after the company take corporate action. Personal motive is a factor that needs to be considered by the company in making decisions
Factors Influencing Capital Structure: An Empirical Evaluation of Major Oil and Gas Producing Companies Operating in Ghana Baidoo, Dennis Amponsah
International Journal of Finance Research Vol. 3 No. 4 (2022): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v3i4.937

Abstract

A company's choice of capital structure determines how successfully it will operate. This choice heavily depends on the understanding and optimisation of the capital structure factors necessary to increase industry-specific profitability and, consequently, market value. Therefore, the goal of this study is to analyse the factors that determine the capital structure of six significant oil producing companies operating in Ghana, namely: Hess Corporation, Kosmos Energy, Tullow Oil and Ghana National Petroleum Company from 2010 to 2018. In the analysis of panel data for this study, random effect estimation is used. Size, liquidity, tangibility, crude oil price, and profitability are used in conjunction with pertinent literature to describe the factors that determine capital structure, which is proxied by the debt-to-capitalisation ratio (leverage). The findings demonstrated that profitability, firm size, crude oil price, and liquidity are major capital structure factors that have a markedly adverse connection with leverage. The main finding of this study implies that, in accordance with the pecking order theory, consideration of debt may ultimately be the last resort, whereas the management of these major oil and gas companies in Ghana must exercise discretion when considering funding based on debt and rely more on generated profits (retained earnings) and shareholder equity. Appropriate crude oil price hedging instruments are recommended to minimise the impact of commodity price volatility on decisions on capital structure strategies.
Consumer’s Perception towards Online Banking Services Rupani, Raaizan; Qureshi, Aryan; Kumari, Sweta
International Journal of Finance Research Vol. 4 No. 1 (2023): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v4i1.974

Abstract

In order to determine whether consumers would continue to use the Unified Payment Interface (UPI) for electronic payments, this study looks at the impact of consumer resistance-related issues. The findings suggest that privacy concerns and usage barriers are the two crucial factors to be addressed to break down consumer resistance towards continuing usage of UPI. It also covers consumer behavior, and the entire study is primarily oriented toward existing UPI customers. The basics, such as the workings of UPI and customer concerns, are explained in detail. Multiple Regression Analysis revealed that various factors significantly influence the adoption of cashless payment modes by online consumers and limit consumers' ability to pay for their purchases online.  
Empirical Evaluation of Financial Performance Differentials between Quoted and Unquoted Firms in Nigeria: Asset Base and Revenue as critical Determinants Osirim, Monday; Wadike, Chile George
International Journal of Finance Research Vol. 4 No. 1 (2023): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v4i1.1064

Abstract

There has been a long debate on what constitutes the financial performance of a firm. The thrust of this paper therefore was to determine the financial performance of quoted and unquoted firms in Nigeria using asset base and revenue as critical determinants. The study is hinged on the philosophy and perception that quoted firms performs better than unquoted firms.  A sample of Eighteen (18) firms was selected, nine apiece for quoted and unquoted companies. The analysis of the firms covered a period of nine years from 2008 to 2017. Vital information from the selected firms’ audited financial reports for various years were collected and analyzed. A Panel data fixed effect was used to determine the financial performance of quoted and unquoted firms while a paired sample statistics test was used in comparing the mean difference of both firms. Empirical results indicate that asset base and revenue have positive impact on the financial performance of quoted firms while only revenue has a positive relationship with financial performance of unquoted firms. The study concludes that there is a difference in the financial performance of quoted and unquoted firms in Nigeria. This difference may have emanated from the fact that unquoted companies lack the financial muscle that could be garnered by quoted firms; thus necessitating the recommendations that the Nigerian Stock Exchange should review its listing requirements to accommodate unquoted companies intending to be quoted.  
Effect of Investments on Cash flow of Manufacturing Firms Listed at the Nairobi Securities Exchange Musembi, Damaris Mutindi; Sporta, Fred
International Journal of Finance Research Vol. 4 No. 1 (2023): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v4i1.1071

Abstract

The researcher in this study sought to establish the factors that affect cash flow in manufacturing firms in Kenya. The study was guided by the following specific objectives,to establish how investments affect cash flow in manufacturing firms listed in the Nairobi stock exchange, to find out how inventory controls affect cash flow   in manufacturing firms listed in the Nairobi stock exchange, to determine how profitability affect cash flow in manufacturing firms listed in the Nairobi stock exchange. The researcher used descriptive research design to describe the factors affecting cash flow in manufacturing firms listed in the Nairobi stock exchange. A firm should be able to generate enough cash flows from its operations. If a firm is not able to cover its current liabilities with cash generated from operations, it will have cash challenges in financing its operations. A cash flow ratio of oneshow that the firm has healthy cash flows and a ratio of less than one shows that the firm does not have enough cash flows to finance its operations. The study covered a period of five years from 2012 to 2017.The methodology for the study was descriptive research design. The study employed population census as the listed firms were very few for the researcher to employ sampling. The listed firms were nine. Analyzed data was presented using figures and tables. The study findings revealed that there is a positive relationship between cash flows and investments as measured by net capital expenditure, profitability as measured by return on assets. There is a negative relationship between cash flows and inventory control as measured by inventory turnover. The study also established that there is a positive relationship between cash flows and profitability of a firm as measured by return on Assets (ROA).cash flows in all the firms have the same trend expect for Eveready East African ltd. The study concluded that manufacturing firms should exercise inventory control, invest wisely and also manage profitability of assets to ensure that the firm has enough cash flows to fund its operations
Agricultural Financing - Agricultural Sector Output Nexus: A Case Study of The Nigerian Economy Helen, Falaye Motunrayo
International Journal of Finance Research Vol. 4 No. 1 (2023): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v4i1.1103

Abstract

The study “Agricultural Financing -Agricultural sector output nexus: in Nigeria” investigated the effect of agricultural financing, both public and private on the outputs of two main sectors of agriculture: crop production and livestock production. Three objectives were formulated to provide guide to this study: examine the long and short run relationship of agricultural financing on crop production output and livestock production output, and to examine the causal relationship between agricultural financing and agricultural sector output.  To achieve these objectives, the study employed two models, each using ARDL Test, Bounds Test, and Granger causality test using time series data from 1981 to 2019.Data was obtained from CBN and World Bank data base. Dependent variables were Crop Production output and Livestock Production output respectively and independent variables were Public Finance, Commercial Bank Credit to Agriculture, Inflation Rate and Interest Rate. The model was tested using descriptive statistics to analyse the significance of the relationship between the dependent and independent variables.  The results show that both public and private finance were positive but insignificant in the short run. In the long run, public finance remained insignificant whereas private finance was positive and significant. Thus, private financing is more effective at improving agricultural output than public finance. The study also revealed a negative long run relationship between interest rate and the outputs of crop and livestock production during the period. It is therefore recommended that the government encourages private investment in agricultural activity, and puts measures in place to curb corruption and embezzlement. Government should also ensure that credit facilities are provided to farmers at low interest rate to reduce detrimental influences.
Review on the Role of Agricultural Extension Service on Increasing Farm Productivity in Ethiopia Argaw, Birhanu; Yehuala, Kalkidan; Aschalew, Alelign
International Journal of Finance Research Vol. 4 No. 2 (2023): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v4i2.1153

Abstract

Improving farm productivity either through introduction of modern technologies or by increasing agricultural extension services is vital. Agricultural extension is the primary mechanism that increases agricultural production. Therefore, reviewing the role of agricultural extension on increasing farm productivity has been interesting issue. Cognizant of this fact, reviewing the role of agricultural extension in increasing farm productivity is an important issue for policy makers in order to improve productivity. Consequently, this seminar was aimed to provide information on the role of agricultural extension in increasing farm productivity and to review agricultural extension constraints in Ethiopia. The review shows that agricultural extension service had positive and significant role on increasing farm productivity by increasing the farmer’s knowhow on agronomic practices such as pest and disease control and adoption of improved seed varieties as well as soil and water conservation technologies. On the other hand, the review reveals that weak interaction; low participation, lack of technical skills, missed use of services, the weak link of research extension, a lack of incentives, and a lack of suitable adaptation to technologies constrain the extension system across the country. Thus, based on the review the following recommendations are forwarded. Extension services should be increase to farmers by the government agents especially by district agriculture development unit, and NGO’s to assist farmers to have easy access to extension so as to increase farm productivity. In addition, to increase the current working conditions of extension agents, including transportation, housing, and proper budget allocation, the government should adopt a very responsible and practical approach.
Comparison Of Autoregressive Distributed Lag Model And Vector Error Correction Model Analysis On The Effect Of Some Macroeconomic Variables On Gdp In Nigeria Adenomon, Monday Osagie; Usmana , Abbas
International Journal of Finance Research Vol. 4 No. 2 (2023): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v4i2.1165

Abstract

This research work employed Autoregressive distributed lag (ARDL) and Bound Test for co-integration with Vector Error Correction (VEC) Models for estimation of long run and short run effect on Gross Domestic Product (GDP) in Nigeria. In order to achieve this, annual data on GDP, Unemployment, Exchange, and Interest rate from 1980-2017 The Augmented Dickey Fuller (ADF) Test revealed that the variables are stationary at first difference .ARDL and bound test for co-integration revealed that the decision whether to accept or reject either of the hypotheses is inconclusive. Johansen confirmed the existence of long run relationship between the variables. VECM long run estimate indicated that there is positive and significant effect of Exchange rate and Unemployment rate on GDP while Interest rate had negative significance effect on GDP.ARDL long run estimate indicated that only Unemployment rate had significant effect on GDP. ARDL short run estimate among the variables revealed that the coefficient of the ECM(-1) had a correct sign and statistically significant at 5% level which also indicated that the system corrects its previous period at the speed of adjustment by 46% per annum, it was also revealed that interest rate was positive and statistically significant in the short run . While VEC short run estimate revealed that no any variable has significant effect on GDP and that the coefficient of the ECM(-1) had a correct sign and was statistically not significant at 5% level which also indicated that the system had its previous period correct at the speed of adjustment by 12% per annum,. The models were stable for forecasting, no serial correlation, multicollinearity, heteroskedasticity and the residuals are normally distributed
Disclosure of Green Banking, Profitability and Company Size on Company Value in Banking in Indonesia Pratiwi, Asti; Basyith, Abdul; Safitri, Ervita
International Journal of Finance Research Vol. 4 No. 2 (2023): International Journal of Finance Research
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijfr.v4i2.1211

Abstract

This study aims to determine the effect of green banking disclosures, profitability and firm size on firm value. The sample used was 11 samples with 55 observations using purposive sampling technique. The data used is secondary data, with the data collection method using content analysis. The analysis technique used is multiple linear regression analysis. The results of the analysis prove (1) disclosure of green banking, profitability and firm size has a positive and significant effect on firm value, (2) disclosure of green banking has a negative and significant effect on firm value, (3) profitability has a positive and significant effect on firm value, and (4) company size has a positive and insignificant effect on firm value

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