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आयतन 7, मुद्दा 2 (2018)

समीक्षा लेख

Role of Digital Marketing in Retail Fashion Industry: A Synthesis of the Theory and the Practice

 Udayangani Rathnayaka

With the extensive technology development which has undertaken by the world, traditional concept of marketing has fabricated with a digital mode that brings the whole world to the customer’s doorstep in one click. The rising penetration nature of the internet and various faster digital communication channels, wider networks and new devices and their connectivity with marketers made consumers more informative and knowledgeable regarding the value they expected to return to the cost they incurred. The utmost purpose of the study is to identify the impact of digital marketing in consumer behavior with special reference to retail fashion industry. Secondary sources of data has used for the study and based on the results of the secondary data analysis, conclusion has derived with the findings. Accordingly, the research study was addressed on how digital marketing has changed the retail fashion industry and how it effects on the consumer behavior. With the analysis, it has recommended customer relationship marketing as a strategic response to face the changes made from digital marketing in the retail fashion industry. Also it has identified on how the skills, attitudes and the behavior of the professional marketers should be shaped in strategizing the customer relationship marketing to the retail fashion industry in the digital platform.

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The Effect of Environmental and Social Corporate Governance on the Financial Performance with Special Focus on the Egyptian Private Sector Companies within Egx30

 Mohamed A Elshawarby

Egyptian private sector companies are face increasing pressure on two fronts-requiring greater transparency and disclosure and the need to apply good Environmental and Social Corporate Governance (ESCG) practices. The main objective of this research paper is to examine the relation between Environmental and Social Corporate Governance practices and financial performance (FP) of Egyptian private sector companies included in the official share index of the Egyptian stock change. EGX 30 index the index includes 30 largest firms where liquidity and action. The EGX 30 is weighted at market value and adjusted by free float. The adjusted market value of the listed company is the number of its shares multiplied by the closing price of that company multiplied by the percentage of shares offered freely. This study provides important evidence on the impact of ESCG performance on Corporate Financial Performance (CFP). “This is particularly important given this sustainability and ESCG performance to identify key business activities of listed companies in Egypt. The study concluded that there is a strong correlation between social governance with its four dimensions (board responsibilities, disclosure, and transparency and investor rights protection) and the financial performance of Egyptian private sector companies within EGX30.

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Role and Significance of FDI (Outward) in Indian perspective An Analysis: Post Demonetization Period

 Ahmad Khalid Khan and Syed Mohammad Faisal

In this research paper we have tried to focus that up to what extent that foreign direct investment (FDI) in Indian context considered one of the most crucial factors either to acquire or transferring investments witnessing development and growth in its economy. There are many set-up of FDI both inward as well as outward and accordingly companies should try to do an advanced research before actually investing in a foreign country.

We have monitored each and every aspect of FDI both inward as well as outward in pre demonetization and post demonetization periods. In the first part of our research we have already analyzed Indian economy in the perspective of IFDI and got published titled foreign direct investment (influx) from different nations and its impact on economic development in India: “A detailed study in service sectors and its contribution in overall economic development” in one of international journals. It has been proved and accepted that FDI (inward or outward) can be a win-win situation for both the ventures whether home country or foreign country involved. The investors can gain cheaper access to products/services and the host country can get valuable investment locally as well as internationally.

We researchers have focused FDI outward in country wise, sector wise as well as year wise from India and compared various aspects and implications to its counterparts.

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Determinants of Capital Adequacy Ratio of Deposit Money Banks in Nigeria

 Gabriel O Abba, Ene Okwa, Benedict Soje and Lilian N Aikpita

Capital Adequacy Ratio (CAR) is an important measure of “safety and soundness” for banks and depository institutions because it serves as a buffer or cushion for absorbing losses. It is one of the major benchmarks for financial institutions the world over, especially with the introduction and adoption of the various Basel Accords. This study is an attempt to analyze the bank-specific determinants of CAR in the Nigerian Deposit Money Banks (DMBs) using balanced panel data collected from financial statements of 12 selected quoted banks for the ten-year period 2005-2014. The index for profitability which is ROA was found to be the most important determinant of CAR, having recorded the highest coefficient in the multiple regression result. The study found out that Capital Adequacy Ratio of Nigerian deposit money banks is well above the regulatory minimum set by CBN as well as the requirements of Basel Accord. Also, Nigerian banks’ risk portfolio is quite high and ROA is quite low. Depositors’ interests are well protected as the asset base of DMBs is well above the total deposits. The study concludes that CAR is largely determined by banks risk-portfolio, deposit level, profitability and asset quality and that CAR of Nigerian banks is well above the regulatory minimum. The study recommends that Nigerian deposit money banks should adopt a more pragmatic risk-management mechanism and a risk-based capital maintenance approach backed by a robust data management system. The study recommends improvement in operational performance of banks, strict compliance with various capital regulations, frequent stress tests for banks and more detailed disclosure practice to include details of changes in Tier I and Tier II capital, risk-weighted assets and trend analysis of changes in Capital Adequacy Ratio.

शोध आलेख

Does International Financial Reporting Standards (IFRSS) Adoption Affects Banks’ Asset Quality in Nigerian Banks?

 Gabriel O Abba, James O Alabede, Ene Okwa and Benedict Soje

Asset quality also known as loan portfolio quality is one of the critical areas in determining the overall financial wellness of a bank. Prior to the adoption of IFRS, the Statement of Accounting Standards (SAS 10) and the prudential guideline recognized and specified the measurement criteria for loan portfolios disclosed in the financial statements of Nigerian deposit money banks. With the mandatory adoption of IFRS in Nigeria, a different measurement basis was introduced (IAS 39 and IFRS 9). Thus, this study examines the effect of IFRS adoption on the overall asset quality of Nigerian money deposit banks. The study, which covers the period between 2006 and 2015, applies Generalized Least Square technique to compare the asset quality of banks listed on the Nigerian Stock Exchange before and after the adoption of IFRS. The study reveals that IFRS adoption has significantly affected asset quality of Nigerian banks. It is recommended that deposit money banks should continually strengthen their credit risk management and reporting mechanisms as enshrined in IFRS as this would guarantee good asset quality position in the reported financial statements.

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Investigating the Relationship between Over-Valuation Stock Price and Debt Costs of Companies with Financial Health Based on Black, Scholes and Merton (BSM) Model

 Gholam Reza-Zomorodian and Majid Rahmani Firozjaee

This study aims to investigate the relationship between over-valuation stock price and debt costs of companies with financial health in Tehran Stock Exchange. In this regard, at first the researcher identifies companies with financial health based on Black, Scholes and Merton (BSM) model, and then tests the hypotheses. This study is applied and according to the data collection method, it is descriptive (correlation) with ratio scale of measuring data. To test the hypotheses, we collect the accounting data from 2011 to 2015 and analyze the data based on it. According to the results, there is a positive and significant relationship between the over-valuation and the debt cost of companies with financial health, and the relationship is intensified by the information asymmetry. The results of this study confirm the findings of Chiou and Shu research on the existence of a positive and significant relationship between over-valuation and debt costs.

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The Impact of Management Ethics on Stock Performance in Malaysia

  Vahid Biglari

This paper was designed to understand the implications and significance of management ethics over stock performance in Malaysia. The stock performance was measured using Return on Equity (ROE), Return on Asset (ROA), Earnings Per Share (EPS) and Price Earnings ratio (PE). A scorecard method used in ASEAN Corporate Governance report 2014 has been used to rank the firms based on their ethical performances. The published rankings for top 20 firms with good corporate governance are used as measure of management ethics. The theoretical relationship between shareholder’s wealth, management ethics and efficient market hypothesis explains how management ethics impact the stock performance. The findings could be used to understand how shareholders could be affected by the managers’ ethical or unethical behavior.

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Consumer Skepticism towards Advertising on Television Media

 Amit Kumar

Purpose: Aim of this study is to examine the level of consumer skepticism towards the brand claims advertising and how it is affected by consumer’s demographic profile.
Design/methodology/approach: The scale developed by Obermiller and Spangerberg is used in this study for measuring consumer skepticism towards advertising. And for the purpose of analysis of data chi-square, correlation and uni-variate analysis tools were used.
Findings: The results show that consumer’s gender and age have influence on consumer skepticism towards the brand advertising on television.
Practical implications: By understanding consumer skepticism towards advertising, marketers could overcome problems related to failure of brand advertising.  

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Approval and Introduction of the International Financial Reporting Standards (IFRS) in Georgia: Challenges and Perspectives

 Levan Sabauri

In this study we discuss how important introduction of the International Financial Reporting Standards is for the Georgian auditors and how the standards affect transparency and the shareholders’ attitude to the management’s representations. The target group is the external (independent) auditors, and the randomly selected audit firms in Georgia. The initial data were gathered by means of the questionnaire distributed among the addressees and checked by means of the chi-square test and the statistical package for the social sciences. The findings confirmed that the International Financial Reporting Standards affect transparency and the shareholders’ attitude to the management’s representations. The study recommends training of the staff for better application of the standards preconditioning the shareholders’ loyalty.

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The Asymmetric Effect of Sex Role Orientation on Japanese Family Purchase Decision Making

 Zsolt Varga, Wirawan Dony Dahana, and Sotaro Katsumata

Family purchase decision making is driven by the bipolar gender stereotypes of husband and wife. However, relatively little is known about how individual perceptions of Sex Role Orientation (SRO) affect authority in an integrated decision. The present research is aimed to narrow the gap in the literature by dissecting the four dimensions of Sex Role Orientation and exploring the interplay among the elements of household decision making: SRO, gender, and purchase decision stage. The authors carry out a comprehensive analysis by utilizing representative empirical data collected from 500 demographically heterogeneous individuals who filled out a survey related to gender role orientation and automobile purchasing behavior. The analysis reveals asymmetric effects of females and males norm perceptions. While the fundamental relationship between SRO and decision making authority is predominated solely by the gravity of male values, the moderating effect of gender is primarily affected by female dimensions. The research breaks beyond the limitations of prior research by elucidating households’ decision making structure through isolating the dimensions of female and male gender norms, and contributes to the literature by providing a deeper and more comprehensive insight into the underlying factors of decision making mechanism between husband and wife. In addition, given the sparse research on gender roles and purchasing behavior in Japanese society, the results provide a basis for cross-cultural comparison and actionable items for immediate management implication by practitioners.

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