scholarly journals Microeconomic Firm Characteristics and Long Run Returns: The Case of Firms That Issued Equity at Nairobi Securities Exchange

2020 ◽  
Vol 5 (4) ◽  
Author(s):  
Martin Khoya Odipo ◽  
◽  
Tobias Olweny ◽  
Oluoch Oluoch ◽  
◽  
...  
Keyword(s):  
Positive Influence ◽  
Bench Mark ◽  
Economic Determinants ◽  
Explanatory Variables ◽  
Study Approach ◽  
Measurement Models ◽  
Average Return ◽  
Long Run ◽  
Better Than

This study looks at micro-economic determinants of long run performance of shares issued in Nairobi Securities Exchange from 1st Jan. 2007 to 31st Dec.2013. Do these selected microeconomic determinants have statistically significant effects on long run return on equity issued in the Nairobi security exchange in Kenya? The study has a total 12 firms that issued shares in the security exchange during this period. In order to achieve the objectives of the study “a calendar study” approach on the issued shares was adopted. Monthly average returns were calculated for a period of 5 years. Nine hypotheses were deduced and executed. Three were based on benchmarks namely: Nairobi Securities Exchange Index (NSEI), Capital Asset Pricing Model (CAPM) and Matching Firms (MF). Along with the 3 mentioned measurement models, other 6 micro-economic variables were incorporated in the study; firm size, offer size, stock turnover, book/ market ratio, age and quality of underwriter. A panel data multi-regression and single regression analysis were run to examine the relationship between average return and micro-economic determinants on firm performance in the long run. The results of the study showed that the study corresponds with some of results of the previous studies with regard to the long run returns of either under or over performance. The level of under of over performance based on the benchmarks used were that NSEI and Matching firms performed better than firms that issued equity. However firms that issued equity performed better than CAPM as bench mark. The study also revealed that two explanatory variables; Age and Quality of underwriter were statistically significant as determinants of long run performance. Finally two independent variables were found to have positive influence on firms that issued equity in the NSE. In conclusion this study confirmed the results of previous studies done either supporting certain variables as determinants of long run return or do not support certain variables as determinants of long run return.

scholarly journals Firm Ownership Characteristics and Long-run Return on Equity Issued: A Case of the Nairobi Securities Exchange

2021 ◽  
Vol 7 (3) ◽  
pp. p131
Author(s):  
Martin K. Odipo ◽  
Tobias Olweny ◽  
Oluoch Oluoch
Keyword(s):  
Big Five ◽  
Institutional Ownership ◽  
State Ownership ◽  
Regression Analyses ◽  
Return On Equity ◽  
Firm Ownership ◽  
Average Return ◽  
Long Run ◽  
Multi Linear Regression ◽  
Better Than

This investigation looked at the link between firm ownership characteristics and long-run return on firms that issued equity at the Nairobi Securities Exchange (NSE) in Kenya. The study covered 12 firms that issued shares in the NSE market from 2006-2008. Ownership characteristics included (state ownership, institutional Ownership, foreign Ownership, big five shareholders, market capitalization, age of the firm and Leverage of the firm) in relation to the average return. The study tested whether each of the firm ownership characteristics influenced long-run performance. Annual return for these companies was based on market return for five years after the firm’s equity shares were issued. The long-run performance was compared with three benchmarks, namely, NSE index, CAPM and Matching firms. Seven hypotheses were developed for the study. Simple-liner and multi-linear regression analyses based on panel data were carried out to relate the extended run return on shares issued. The result of the survey showed that issuing firms performed better than non-issuing firms. These issuing firms also performed better in comparison to CAPM. However, the issuing firms performed worse than NSEI. In conclusion, the long-run performance of equity issued at the NSE does not necessarily underperform relative to non-issuing establishments.

scholarly journals Investigating the role of governmental scholarships, technical training and R&D in the provision of better-quality education in Asia

2020 ◽  
Vol 15 (6) ◽  
pp. 1672-1684
Author(s):  
Noorhapizah Noorhapizah ◽  
Amhar Amhar
Keyword(s):  
Positive Impact ◽  
Unit Root Test ◽  
Quality Of Education ◽  
Policy Makers ◽  
Explanatory Variables ◽  
Long Run ◽  
Development Expenditure ◽  
Short Run ◽  
Asian Economy

It is believed that the significance of various factors like the availability of training in technical terms, research and development expenditure, and government scholarships play a major role in increasing the quality of education. This study has been carried out in order to analyze the detailed impact of various variables on the quality of education in the region of Asia. For this purpose, data was collected over the last 26 years from various Asian economies while considering different databases and sources as well. After collecting the data, unit root test was used in order to analyze the cointegration. Furthermore, ARDL test was also applied in order to investigate the short run and long run relationship between the study variables. The findings of the study reveals the fact that there is a positive impact of selected explanatory variables on the quality of education in Asian economy. Furthermore, the authors conclude that various policy makers, and decision makers can use the present study in both theoretical and practical perspectives as well. However, various limitations are also associated with the present study.   Keywords: Asia ; government scholarship;quality of educationresearch and development.

Qualitative and quantitative evaluation of text printed with flexography on woven labels

2020 ◽  
pp. 004051752098174
Author(s):  
Urška Stanković Elesini ◽  
Sara Pančur ◽  
Klementina Možina
Keyword(s):  
Quantitative Evaluation ◽  
Positive Influence ◽  
Cotton Fibers ◽  
Mixed Composition ◽  
Cover Factor ◽  
Qualitative And Quantitative ◽  
Type Size ◽  
The Subject ◽  
Better Than

Even though textile labels are not often the subject of research, their quality must not be neglected. Printed typographic elements (i.e. letters and texts) must be visible regardless of textile ribbons and typeface or type size to be printed. Thus, the aim of the research was to qualitatively and quantitatively analyze and evaluate the text printed with flexography in two different typefaces (Helvetica and Verdana) in three different type sizes (4, 6 and 8 point) on five textile ribbons made of polyester and polyester/cotton mixture in two different weaves (plain and satin). The results of our research showed that the quality of printed letters is influenced by the properties of textile ribbons as well as by the chosen typographic features. When textile ribbons were composed of polyester filaments, the quality of prints was better than in the case of the mixed composition with cotton fibers. The coating and previously dyed textile ribbons had a positive influence on the quality of printed letters. The typeface Verdana gave more distinct and contrasted printed letters than Helvetica. The quality of printed letters (measured by the cover factor) decreased with the reduced type size; letters (and text) in a smaller type size (4 point) were hence, depending on the properties of textile ribbons, less visible.

scholarly journals Life Satisfaction and Migration - What Relationship?

2020 ◽  
Vol 9 (1) ◽  
pp. 105-127
Author(s):  
Ioana Ciorbagiu ◽  
Adrian Stoica ◽  
Monica Mihaila
Keyword(s):  
Quality Of Life ◽  
Life Satisfaction ◽  
Positive Impact ◽  
Well Being ◽  
Good Health ◽  
Positive Influence ◽  
Subjective Well Being ◽  
Economic Determinants ◽  
And Migration

AbstractThe aim of the paper is to empirically assess if immigrations is a potential predictor of life satisfaction in European countries, considering also other socio-economic determinants. For this purpose, we are using data from the European Quality of Life Survey 2016 implemented by Eurofound. Our results show that immigration, measured here by migrants born in another country, has a net positive impact on subjective well-being, and strictly in this context, migration does not prove to be a threat on well-being. Also, the results suggest that immigration leads to well-being in different ways, more precisely it seems to support a better quality of life for the more privileged and not so much for the less privileged. The statistical and econometrical evaluation of the conection between life satisfaction and other determinants, grouped in categories such as demographical, socio-professional, economical highlights a series of general and specific influences. Subjective well-being, representing eudaimonic well-being, is positively associated with an improvement in the areas of life satisfaction, especially with the standard of living and family life. We also identified positive influence on life satisfaction, in relation to aspects such as the freedom to decide how to live, the efforts made to have a better life or individuals’ own optimism. A very important aspect is a good health, a reduced risk of psychological depression and chronic physical and mental problems.

scholarly journals Usaha Kecil Menengah sebagai Sarana Peningkatan Perkonomian di Kecamatan Colomadu

2020 ◽  
Author(s):  
Abror Muhammad
Keyword(s):  
Data Collection ◽  
Random Sampling ◽  
Small And Medium Enterprises ◽  
Case Study Approach ◽  
Study Approach ◽  
District Economy ◽  
Medium Enterprises ◽  
Better Than

. In the current millennial era, Small and Medium Enterprises were popular these days in the society and then the economy in Colomadu sub-district was on the position that is not fine. This research has a purpose to gave a big impact for Colomadu sub-district economy enhancement with the existence of Small and Medium Enterprises as it’s medium. Other than that, the existence of Small and Medium Enterprises will giving a lot of employment that later can reduce the number of unemployed. This research was using descriptive qualitative with a case study approach and use data collection in a way using random sampling data collection by examining 3 Small and Medium Enterprises in Colomadu sub-district. The results that the writer expect was the occurance of decrease in number unemployed which will result in an increase in the quality of human resource. Other than that, the writer also want a enhancement of the economy in Colomadu sub-district be better than before. The implication of this research was by starting the emergence of many Small and Medium Enterprises, eliminate he proglem of job shortages and keep the economy of Colomadu sub-district from an unfavorable position.

scholarly journals Spatial Dimension of Czech Enterprise Support Policy: Where are Public Expenditures Allocated?

2018 ◽  
Vol 18 (4) ◽  
pp. 333-351
Author(s):  
Jiří Novosák ◽  
Jana Novosáková ◽  
Oldřich Hájek ◽  
Jiří Koleňák
Keyword(s):  
Spatial Dimension ◽  
Positive Influence ◽  
Public Expenditures ◽  
Explanatory Variables ◽  
Correlation And Regression Analysis ◽  
Socially Disadvantaged ◽  
Cohesion Fund ◽  
Support Policy ◽  
Spatial Objectives

Abstract The purpose of the present paper is to find whether the spatial distribution of enterprise support policy funds meet the spatial objectives stated in Czech strategic documents related to enterprise support policy. Are more funds allocated in lagging regions, and does enterprise support policy contribute more to the convergence objective, or are more funds allocated in core regions, and does enterprise support policy contribute more to the competitiveness objective? These questions are answered by evaluating the Structural (and Cohesion) Fund (SF) expenditures that were allocated on operations categorised as part of enterprise support policy (2007-2013). The dependent variable relates to 206 regions, and SF expenditures are calculated for every inhabitant of a region. Moreover, two types of SF operation are distinguished: (a) innovationoriented operations; and (b) other enterprise support operations. Three explanatory variables are defined using Principal Components Analysis (PCA), and these components are understood as: (1) the social disadvantage of regions; (2) the innovation environment of regions; and (3) the quality of regional entrepreneurial environments. The associations between the dependent and explanatory variables are subsequently evaluated by methods of correlation and regression analysis. The findings provide some evidence for both the convergence and competitiveness objectives. Nevertheless, this evidence is rather limited due to a low spatial concentration of SF allocation, and the compensatory effect between the two thematic types of SF operations. Hence, while the quality of their innovation environment has a positive influence on regional SF allocation regardless of the thematic focus of SF operations, socially disadvantaged regions received more funds for SF operations which are not innovation-oriented. The capacity of potential beneficiaries to prepare and submit many project proposals for SF co-financing is the main reason for high or low SF allocation.

Pengaruh Kualitas Sumber Daya Manusia, Pemanfaatan Teknologi Informasi, Dan Sistem Pengendalian Intern Terhadap Ketepatwaktuan Pelaporan Keuangan Pemerintah Desa

2018 ◽  
Vol 26 (2) ◽  
pp. 131-143
Author(s):  
Marlinawati Marlinawati ◽  
Dewi Kusuma Wardani
Keyword(s):  
Information Technology ◽  
Control System ◽  
Human Resources ◽  
Financial Reporting ◽  
Internal Control ◽  
Positive Influence ◽  
Internal Control System ◽  
Speed Up ◽  
Village Government

The purpose of this research is to know the influence between the Quality of Human Resources, Utilization of Information Technology and Internal Control System Against Timeliness of Village Government Financial Reporting at Gunungkidul Regency. This research is causative research. The population is the village government in Gunungkidul Regency, especially in Gedangsari subdistrict. Criteria of respondents in the study were to village and village apparatus. We use questionnaire to collect data. We use multiple regression with SPSS program version 16.0 to analyze data. We find that quality of human resources and internal control system have a positive influence on the timeliness of village government financial reporting. On the other hand, utilization of information technology does not influence the timeliness of village government financial reporting. These imply that the quality of human resources and internal control system can speed up the preparation of village government financial reporting.

Kepuasan Masyarakat Terhadap Pelayanan Kelurahan Setelah Pemekaran Di Tangerang Selatan

Liquidity ◽  
2018 ◽  
Vol 2 (2) ◽  
pp. 151-159
Author(s):  
Pitri Yandri
Keyword(s):  
Public Perception ◽  
Service Personnel ◽  
Urban Services ◽  
Hospitality Workers ◽  
Care Workers ◽  
Before And After ◽  
Cartesian Diagram ◽  
Better Than

The purpose of this study is (1) to analyze public perception on urban services before and after the expansion of the region, (2) analyze the level of people's satisfaction with urban services, and (3) analyze the determinants of the variables that determine what level of people's satisfaction urban services. This study concluded that first, after the expansion, the quality of urban services in South Tangerang City is better than before. Secondly, however, public satisfaction with the services only reached 48.53% (poor scale). Third, by using a Cartesian Diagram, the second priority that must be addressed are: (1) clarity of service personnel, (2) the discipline of service personnel, (3) responsibility for care workers; (4) the speed of service, (5) the ability of officers services, (6) obtain justice services, and (7) the courtesy and hospitality workers.

Memperkuat Loyalitas Melalui Kepercayaan, Kepuasan Dan Komitmen Studi Pada Nasabah PT. Bank Cimb Niaga

Liquidity ◽  
2018 ◽  
Vol 4 (1) ◽  
pp. 43-52 ◽  
Author(s):  
Sri Widyastuti
Keyword(s):  
Customer Satisfaction ◽  
Relationship Quality ◽  
Structural Equation Model ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Positive Influence ◽  
Equation Model ◽  
Survey Method ◽  
Branch Office

Customer loyalty is ‘suspected’not been able to optimizationrepetition of transactions, customer recommendation and durability with the establishment relationship quality of the trust, customer satisfaction and commitment. Therefore, research conducted on Bank CIMB Niaga aims to determine the extent of the trust, and commitment to customer satisfaction can increase X-tra and TabunganKU savings customer loyalty. This research is verification and the method of research is explanatory survey method, the sample is 160 customer X-tra and tabunganKU savings in the branch office Bank CIMB Niaga Bintaro. The analytical method used is structural equation model. The results showed loyalty can be achieved with relationship quality for customers through the establishment of trust, and commitment to customer satisfaction, which all three have a positive influence. Therefore, the management of Bank CIMB Niaga need to improve their ability in trust, satisfactionand commitmentwith the bank's customers to become increasingly favored customers.

Implementasi Voip Server Berbasis IPV6 Dengan Raspberry PI

2019 ◽  
Vol 9 (01) ◽  
pp. 47-54
Author(s):  
Rabbai San Arif ◽  
Yuli Fitrisia ◽  
Agus Urip Ari Wibowo
Keyword(s):  
Internet Protocol ◽  
Wireless Transmission ◽  
Raspberry Pi ◽  
Test Results ◽  
Average Delay ◽  
Ipv6 Network ◽  
Ip Network ◽  
Selection Of ◽  
Better Than

Voice over Internet Protocol (VoIP) is a telecommunications technology that is able to pass the communication service in Internet Protocol networks so as to allow communicating between users in an IP network. However VoIP technology still has weakness in the Quality of Service (QoS). VOPI weaknesses is affected by the selection of the physical servers used. In this research, VoIP is configured on Linux operating system with Asterisk as VoIP application server and integrated on a Raspberry Pi by using wired and wireless network as the transmission medium. Because of depletion of IPv4 capacity that can be used on the network, it needs to be applied to VoIP system using the IPv6 network protocol with supports devices. The test results by using a wired transmission medium that has obtained are the average delay is 117.851 ms, jitter is 5.796 ms, packet loss is 0.38%, throughput is 962.861 kbps, 8.33% of CPU usage and 59.33% of memory usage. The analysis shows that the wired transmission media is better than the wireless transmission media and wireless-wired.

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