“VOLUME 5, ISSUE 8″ Under QS Publications – Aug-2016
-Islamic Microfinance Model To Reduce Poverty: Pakistan’s Case.
Author Details: Muhammad Naveed Aslam – International Islamic University, Islamabad – Student of PhD (Islamic banking and Finance)
The most essential element for any Government is to become a welfare state and the constitution of Pakistan gives great importance to promote the social welfare projects in order to alleviate the poverty. The article 37 and 38 of constitution 1973, is the mother source of socio-economic and people welfare policies, explains that state should provide the basic necessities of life like food, clothing, shelter, education, medical relief, suitable job opportunities and reduce the disparities in the sources of earnings. In view of this, Pakistan government introduced different development programmes, schemes and plans for the provision of basic facilities to poor’s. According to the State Bank report 2011, Microfinance has failed to make a major breakthrough in Pakistan in order to become a dynamic participant. The poverty rate in the country, increased from 23.9 to 37.5 percent according to planning Commission (2012). It was also reported that about sixty million people was living below absolute poverty line. The recent disaster of Thar and Chulsitan own speaks loud on the failure of Govt. development programmes and microfinance. As interest is prohibited as per belief of majority of the people, any interest based scheme is not suitable due to being exploitation. Now, there is a great need to bring a religiously acceptable model that will change baggers to donator hand.
Islamic finance takes an impressive leap after ongoing economic and financial crises at the national and global levels and is increasingly gaining ground. The present study suggests a practical Islamic microfinance model that can be considered to be more fruitful and productive to alleviate poverty effectively; it explains seven years might be sufficient to reduce poverty from the society at large.
Key words: Poverty, Islamic Finance and Microfinance JEL Classification: O16, P34, P43
[Download Full PDF] [Page 01-09]
- Building Corporate Organizations Through Effective Staff Performance Management.
Author Details: Tope Oni, Ph.D. Sociology – Department of Sociology, Demography & Social Statistics Joseph Ayo Babalola University, Ikeji-Arakeji
Staff performance management is globally recognized as an important human resource management process in organisations that seek to achieve peak performance, stay ahead of competition and continue to be a vibrant going concern. There are however a significant number of organisations that are yet to appreciate and give prime focus to the central place of staff performance appraisal and management in the pursuit of peak business performance. The author used the participant and non-participant observation methodology to study many organisations over several years. The study reveals that, while many multinationals and blue-chip companies in the private sector carry out effective staff performance appraisal and management according to global best practices, most Small-and-Medium-Scale Enterprises (SMEs) in developing economies are yet to accord effective performance appraisal and management the central place it deserves in business management and organisational development. This paper examines global best practices in staff performance appraisal and management, current realities in staff performance appraisal and management in SMEs in Nigeria, the existing gap between these realities and global best practices, explanations for the gaps and recommendations on how the gaps can be filled and the challenges overcome for maximum organisational effectiveness.
Key Words-Performance Appraisal & Management, Employee Development, Human Resources, Reward, Organisational Development.
[Download Full PDF] [Page 10-24]
-The Challenge of Improving Corporate Governance by Creating Effective Audit Committees.
Author Details: Dr. Madan Lal Bhasin-Professor, School of Accountancy, College of Business,Universiti Utara Malaysia, Sintok, Darul Aman, Malaysia
Abstract:Even though there are many measures to put corporate governance (CG) in place and practice, an important tool essential for the success is the effective functioning of an audit committee (AC). As the eyes and ears of the board, the AC plays a pivotal role in helping to stop or reverse the rise in reported fraud incidents worldwide. Now-a-days, an AC is being looked upon as a distinct culture for CG and has received a wide-publicity across the globe. Regulation has bolstered the role of the AC in past years. Government authorities, regulators and international bodies all have indicated that they view an AC as a potentially powerful tool that can enhance the reliability and transparency of financial information. Being mandatory under the SEBI’s Clause 49 of the Listing Agreement, an AC can be of great help to the board in implementing, monitoring and continuing ‘good’ CG practices to the benefit of the corporation and all its stakeholders.
This study performs a ‘content’ analysis on the AC reports of the top 500 listed companies in India during 2010 to 2013 to determine the information content of these reports and the extent to which these reports conform to the Clause 49 requirements of the SEBI. Also, discussed are the various trends about an AC characteristics viz., size, composition, activity, as well as, the extent of non-audit services provided by auditors in the top 500 listed Indian companies. The 2013 Companies Act in India makes comprehensive reforms to virtually all areas affecting corporate governance. Thus, an effective AC can be a key feature of a strong CG culture, bringing significant benefits to an organization. The effectiveness of the ACs is based on the characteristics of independence, financial expertise and diligence.
Keywords: Improving corporate governance, effective audit committees, SEBI Clause 49, Sarbanes-Oxley Act, listing agreement, board of directors, financial reporting, India.
[Download Full PDF] [Page 25-46]
-Synchronous and Asynchronous Information and Communication Technology Tools: An Effective Delivery for Distance Learning Education in a Cloud Computing In Nigeria.
Author’s Details: (1)Okworo, Gibson Samuel (Ph.D) – Department of Educational Technology and Library Science University Of Uyo, Uyo. (2)Anatsui, Tina C.-Babcock University Ogun State.
With the much cry for adequate effective delivery system for distance learning education in Nigeria. Synchronous and asynchronous information technology (IT) media if integrated fully into the programme according to the study might go along way for the needed delivery system. Synchronous tools allow for facilities, participants to chat at the same time and speed at different locations. While asynchronous allows for chatting from facilitators at the same time but participants can received their lesson at their own time. The school without a wall syndrome can be removed by the introduction of synchronous and asynchronous (IT) media tools. Cloud computing offers whole lots of opportunities for the use of internet. Its enormous benefits for distance learners lie also on the credibility of their certificate. Based on the finding, appropriate recommendations were made.
Keywords: Synchronous, Asynchronous, Information Technology, Distance Learning, Cloud Computing.
[Download Full PDF] [Page 47-55]
-Training And Development: Pre-Requisite For Employee’s Efficiency for National Growth and Sustainability.
Author’s Details:(1)Touitou, Tina C. (2)Ojunta, Law-Department of Mass Communication, Babcock University.Iishan-Remo, Ogun State, Nigeria (3)Agbeniga, Florence I.-Department of Political Science and Public Administration.Babcock University Iishan-Remo, Ogun State, Nigeria
The study emphasizes on training as the means to improve knowledge and skills, and to change attitudes or behavior. It is one of the most important potential motivators which can lead to many possible benefits for both individuals and the organization. Based on that, the study employed survey design in form of cross sectional study through systematic random sampling. The sample size of three hundred and fifty  employees were selected by applying the method of sampling conducted by Slovin 1960. Research instrument used was a structured questionnaire, a five-point Likert scale method, while the instrument was content validated and tested using Cronbach’s Alpha 0.821.The raw data were presented and analyzed using simple percentages. The data was collected through two procedures: the primary and secondary sources. Result of the study proves that there is significant relationship between training, development and efficiency of local government employees in Lagos State of Nigeria. The study concluded that the Lagos State local government’s nature of work is mainly rendering services to the public, the need for continuous training and development of its human resources is crucial and vital, taking into consideration the rapid technological advancement. And recommended that identification of training needs should be done more professionally in conjunction with the line managers, as well as the individuals involved together with the Human Resource Department.
Key Words: Taylor’s Theory, Training, Development, Efficiency, human- capital, Sustainability
[Download Full PDF] [Page 56-68]
-Value Relevance of R&D Expenditure before and After Ifrs Mandatory Implementation: Evidence From France.
Author’s Details: (1)Hasna Chaibi (2)Lilia Louihek (3)Mounira Hamed-Tunis El Manar University, Faculty of Economic Sciences and Management B.P 248 2092, Faculté des Sciences Economiques et de Gestion de Tunis, Tunisia
the adoption of International Accounting Standards (IAS/IFRS) by an important and growing number of countries is one of the most important changes in the international accounting field. In France, there is a real change in the firm’s accounting practice related to the intangibles, and in particular accounting treatment for research and development 5 R&D) costs, following the adoption of international standards since January 2005. Consequently, the aim of our research is to analyze the impact of the adoption of International Accounting Standards (IAS/IFRS) on the value relevance of R&D expenditures based on a sample of 36 French companies (SBF120). The main results indicate that adopting IAS/IFRS did not affect the value relevance of expended R&D, whereas, applying the international standards positively affects the value relevance of capitalized R&D.
Keywords: capitalized R&D; expensed R&D; IFRS; value relevance
[Download Full PDF] [Page 69-83]
-Challenges of the Current Trends in Financial Reporting Standards: Evidence from Nigeria Stock Exchange.
Author’s Details: (1)Ozuomba, Chidinma, Nwamaka- Department of Accounting, Gregory University, Uturu, Abia State, Nigeria.(2)Ogujiofor, Magnus, Nkemjika- Department of Accounting, Novena University, Ogume, Delta State, Nigeria.(3)Onuoha, Ikenna- Department of Accounting, Nwafor Orizu College of Education, Nsugbe, Anambra State, Nigeria.
Since International Financial Reporting Standards (IFRS) became operational more light has been thrown on financial reports. This research work seeks to determines the quality of corporate financial reporting in relation to IFRS,
to ascertain the extent of capital formation in corporate entities since adoption of the current trends of corporate financial reporting in Nigeria, and to ascertain users acceptance of financial statement in compliance with IFRS and its improvement in corporate earnings. In order to achieve these objectives, 150 questionnaires were distributed to Zenith bank Nigeria plc, Afrik Pharmaceuticals, ashaka cement, Berger paints, Conoil and Presco Nigeria plc. Data collected was analysed using Z- Test. The study reveals that corporate entities have improved with the provision and implementation of IFRS in Nigeria, that the current trends of corporate financial reporting standards have positive impact on corporate investment. We further recommend that the government and stakeholders should engage in creative awareness and monitor how the current trends of corporate reporting standards can be sustain and consolidate. This will go a long way ensuring that organization which has not implemented the current standards of corporate report is enforced to do so.
Key word: Financial reporting standard, current trends, financial statement.
[Download Full PDF] [Page 84-93]
-Interaction Effect of Total Quality Management and Performance Management on Competitive Advantage of Manufacturing Industries in Nigeria: Evidence from Quoted Companies in Nigeria.
Author’s Details: (1)Ozuomba Chidinma N.-Gregory University, Hope Ville, Uturu, Nigeria. (2)Ifurueze Sunday M.-Anambra State University, Igbariam, Nigeria.
a firm’s competitive advantage is defined as the way in which it creates value for its customers which allows it to establish and sustain a defensive position in its product market. The specific objectives are to examine whether there is a positive influence of product quality on goal, feedback and profit growth of manufacturing industries in Nigeria. To examine whether process quality has an effect on goal, feedback and profit growth of manufacturing industries in Nigeria. Hypotheses were tested using SPSS version 23, among the findings were that process quality and product quality gives a significant effect on the competitive advantage of manufacturing industries in Nigeria. We recommend that emphasizes should be more on quality than on quantity.
Keywords: process quality, Product quality, competitive advantage, manufacturing industries.
[Download Full PDF] [Page 94-105]
-The Role of the Ethics in the Management of the Organization.
Author Details: Sobana Hameed Arshad-Student (Final semester); PhD (Organization and Management) Okan University, Istanbul, Turkey
This paper will analyze the past studies and bring forth the empirical studies on management and ethics. The discussion is based on the idea of having ethics in management that is necessary for both components (ethics and management) to work together and bring conceivability in the business i.e. what measures have been taken to hold together? Although it has been discern outstandingly in the academic work i.e., the most demanding to get people along with the organization. The focal objective of this paper is; why ethics are important in Management? Why ethics are influential in business? What are the attributes of Management which bring ethics in business?
Keywords; Social ethics, personal ethics, individual ethics, normative ethics, moral rules, ethical system.
[Download Full PDF] [Page 106-116]