American Journal of Financial Management

Utilization of Cash Flow Ratios in Financial Management

Research Article of American Journal of Financial Management Utilization of Cash Flow Ratios in Financial Management Assoc. Prof. Dr. Huseyin Yilmaz Faculty of Economics and Administrative Sciences, Bilecik Şeyh Edebali University, Turkey Cash flow ratios are the ratios are calculated using balance sheet, income statement, and the statement of cash flow. The statement of cash flow is used to calculate all of the 28 cash flow ratios. These ratios may be used in financial management. The financial managers can utilize the ratios in especially the seven functions of the financial management. They are financial analysis, working capital management, capital structure, capital budgeting, dividend policy, leverage, and valuation. All of the cash flow ratios could be used financial analysis and working capital management functions of the financial management. 14 ratios in capital structure, 10 ratios in capital budgeting, 8 ratios in dividend policy, 8 ratios in leverage, and a ratio in valuation may be used. Keywords: Cash flow ratios, financial management, functions of financial management,financial analysis, working capital management, capital structure, capital budgeting , dividend policy, leveragre, valuation ...

Countermeasures for the Development of Internet Finance Based on E-commerce Platform

Research Article of American Journal of Financial Management Countermeasures for the Development of Internet Finance Based on E-commerce Platform Xin Lu Business School, Hubei University “Internet Finance” is an organic combination of contemporary information, network technology and financial transactions. At the same time, it is also a new type of financial model. E-commerce has made a huge contribution to the development of Internet finance, providing massive amounts of customer data and e-commerce for the development of Internet finance. Platforms and Internet technologies, and Internet finance’s role in promoting e-commerce are also obvious. The development of Internet finance based on e-commerce in China has been rapid, and it has now become an important force in the financial industry, and has maintained a rapid development. Through analysis, this article proposes countermeasures for Internet finance development for e-commerce platforms. Keywords:The Electronic Commerce; The Internet Finance ...

Testing weak form informational efficiency on the Tunisian stock market using long memory models

Research Article of American Journal of Financial Management Testing weak form informational efficiency on the Tunisian stock market using long memory models Mohamed Ali HOUFI Department of Finance and Investment, Faculty of Business Administration, University of Tabuk, KSA. The purpose of this paper is to test the weak-form market efficiency of the Tunisian stock market using recent developments in time series econometrics. The efficiency hypothesis was tested by using the class of long memory models namely ARFIMA-FIGARCH. For this, we will attempt to examine the long memory behavior in the returns and the volatility series of the Tunisian stock market index namely Tunindex. Our empirical study covers a sample covering the Tunindex during the period: 02/01/1998 to 16/03/2018. Our results show the presence of the long memory property in the return and volatility specified respectively by an ARFIMA and FIGARCH process. This result implies that it is possible to predict future stock prices and an extraordinary gain could be obtained when trading in this market, which displays that the Tunisian stock market is not efficient in its weak-form. Keywords:  long memory, ARFIMA, FIEGARCH, heteroscedasticity, efficiency ...

The Impact of Internal Control on the Profitability of Microfinance Institutions in Senegal

Research Article of American Journal of Financial Management The Impact of Internal Control on the Profitability of Microfinance Institutions in Senegal Duke D Obonyo Huanzhong Normal University This study sought to establish the relationship between internal control and profitability of the Microfinance Institutions in Senegal. The study utilizes a survey design to sample 118 MFI’s to address three objectives namely: To establish the influence of internal control on Earnings Per Share, (EPS) of MFI’s, To establish the influence of internal control on Return On Assets (ROA), The influence of internal control on return on Equity (ROE), and finally, the influence of internal control on profit margin of MFI’s. The study utilized multiple regression analysis to analyses quantitative data collected from the MFI’s and the hypothesis was tested at 95% confidence interval. The study found out that all dimensions of internal control were positively and significantly associated to the four indices of profitability of MFI’s in Senegal. The study recommends that the government of Senegal issues a rational policy framework to ensure all MFIS comply with the provisions of the Senegalese Central Bank on internal controls systems of all financial institutions in the country. Keywords:  Earnings per Share, Return on Assets, Profit Margin, Return on Equity, Internal Control ...

Dr. Gapsalamov Almaz Rafisovich
PhD in Economics, the head of department of economics and management, Kazan Federal University, Elabuga Institute of Kazan Federal University.

Dr. Alireza Miremadi
Dean & Assistant Marketing Professor, Graduate School of Management and Economics, Sharif University of Technology-International Campus

Dr Ahmed S. Abou-Zaid
Associate Professor of Economics, Department of Economics, Eastern Illinois University, Charleston, IL 61920

Dr. Faris Alshubiri
Associate Professor /Finance, Dhofar University

Dr. Raga Mohamed Elzaki Ali
Department of Consumer Sciences and Agribusiness, College of Agricultural and Food Sciences, King Faisal University

Assistant Professor, PhD, Head of Management Department CBA, Taibah University, Yanbu, KSA

Dr. Zinchenko Viktor Viktorovich
Principal research scientist of the Institute of Higher Education of the National Academy of Pedagogical Sciences of Ukraine; Professor of the department of management and innovative technologies of social and cultural activities of the National Pedagogical Dragomanov University; Head of the Department of Management of the Ukrainian Institute of Arts and Sciences;

Full professor, University “Constantin Brancusi” Targu-Jiu, Republicii Street, NO.1, JUD. GORJ

Dr. R. Shanmugam
Professor & Head, Department of Management Studies, B.I.E.T

Dr. Cevdet Kızıl
Associate Professor of Accounting, M.B.A., M.S., Ph.D., CPA, CICA, CCS, ISO27001 LA, ISO9001 LA, Istanbul Medeniyet University, Department of Management

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1. Avinaba Mukherjee, Sourav Sikdar, Anisur Rahman Khuda-Bukhsh. Evaluation of ameliorative potential of isolated flavonol fractions from Thuja occidentalis in lung cancer cells and in Benzo(a) pyrene induced lung toxicity in mice. International Journal of Traditional and Complementary Medicine, 2016; 1(1): 0001-0013. 
2. Vikas Gupta, Parveen Bansal, Junaid Niazi, Kamlesh Kohli, Pankaj Ghaiye. Anti-anxiety Activity of Citrus paradisi var. duncan Extracts in Swiss Albino Mice-A Preclinical Study. Journal of Herbal Medicine Research, 2016; 1(1): 0001-0006.

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American Journal of Financial Management