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 ...

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Results and discussion: Authors may put results and discussion into a single section or show them separately.

Acknowledgement: This section includes a brief acknowledgment of people, grant details, funds

References: References should be listed in a numbered citation order at the end of the manuscript. DOIs and links to referenced articles should be added if available. Abstracts and talks for conferences or papers not yet accepted should not be cited. Examples Published Papers: 

1. Hongmei YANG. A study on the Management Mode of Modern Vocational Education in China. Global journal of Economics and Business Administration, 2018, 3: 10.DOI: 10.28933/gjeba-2018-07-2301 

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About the journal
The journal is hosted by eSciPub LLC. Our aim is to provide a platform that encourages publication of the most recent research and reviews for authors from all countries.


About the publisher
eSciPub LLC is a publisher to support Open Access initiative located in Houston, Texas, USA. It is a member of the largest community of professional publishers in the United States: the Independent Book Publishers Association. It hosts more than 100 Open Access journals in Medicine, Business & Economics, Agriculture, Biological Sciences, Chemistry, Education, Physical Sciences, Sociology, and Engineering and Technology.


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American Journal of Financial Management

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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 ...

Manuscript Title: The title should be a brief phrase.

Author Information: List full names and affiliation of all authors, including Emails and phone numbers of corresponding author.

Abstract: The abstract should be less than 500 words. Following abstract, a list of keywords and abbreviations should be added. The keywords should be no more than 10. Abbreviation are only used for non standard and long terms.

Introduction: The introduction should included a clear statement of current problems.

Materials and Methods: This section should be clearly described.

Results and discussion: Authors may put results and discussion into a single section or show them separately.

Acknowledgement: This section includes a brief acknowledgment of people, grant details, funds

References: References should be listed in a numbered citation order at the end of the manuscript. DOIs and links to referenced articles should be added if available. Abstracts and talks for conferences or papers not yet accepted should not be cited. Examples Published Papers: 

1. Hongmei YANG. A study on the Management Mode of Modern Vocational Education in China. Global journal of Economics and Business Administration, 2018, 3: 10.DOI: 10.28933/gjeba-2018-07-2301 

Tables and figures: Tables should be used at a minimum with a short descriptive title. The preferred file formats for Figures/Graphics are GIF, TIFF, JPEG or PowerPoint.

Publication fees: We do not charge any submission charges, but authors are required to pay publication fees after their manuscripts are accepted for publication. For authors who receive our invitations, please send us the invitation code to receive the special discount.

Proofreading and Publication: A proof will be sent to the corresponding author before publication. Authors should carefully read the proof to avoid any errors and return the proof to the editorial office. Editorial office will publish the article shortly.

Withdrawal Policy: When you want to withdraw an article, please contact us. We will withdraw/retract it from our system after reviewing your request.

Terms of Use/Privacy Policy/Disclaimer/Other Policies: you agree that by using or receiving our services, you have read, understood, and agreed to be bound by all of our terms of use/privacy policy/ disclaimer/ other policies.

About the journal
The journal is hosted by eSciPub LLC. Our aim is to provide a platform that encourages publication of the most recent research and reviews for authors from all countries.


About the publisher
eSciPub LLC is a publisher to support Open Access initiative located in Houston, Texas, USA. It is a member of the largest community of professional publishers in the United States: the Independent Book Publishers Association. It hosts more than 100 Open Access journals in Medicine, Business & Economics, Agriculture, Biological Sciences, Chemistry, Education, Physical Sciences, Sociology, and Engineering and Technology.


Rapid Response Team
Please feel free to contact our rapid response team if you have any questions. Our customer representative will answer your questions shortly.

American Journal of Financial Management

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