American Journal of Financial Management


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 ...

Governance Factors and Mismanagement of Public Project Funds in Ondo State, Nigeria

Research Article of American Journal of Financial Management Governance Factors and Mismanagement of Public Project Funds in Ondo State, Nigeria 1Adedeji, D. B, 2Lawal, A. F and 3Simon, O. O 1&2Department of Project Management, Federal University of Technology, Akure. Ondo State. Nigeria; 3Department of Economics, Federal University of Technology, Akure. Ondo State. Nigeria This paper evaluates the governance factors that contribute to the mismanagement of public project funds in Nigeria. Governance factors are variables that influence the effective usage of project fund to achieve project delivery while Public projects relate to works done by the government to satisfy public interests. The target population for this study were the public sectors in Ondo State which comprises the Ministries, Departments and Agencies (MDAs) with the total number of seventy-four (74) establishments in the state. Primary and secondary data were collected. Multiple regression analysis was used to analyse the effects of corruption, rule of law, bureaucracy and accountability as proxies for governance factors on public project delivery. Findings reveals that Public projects’ execution is fettered with different types of corrupt practices such as bribery, favour to favour, nepotism, percentage sharing and contract inflation in the study area, weaknesses and lapses were observed in bureaucracy, accountability and due process. Therefore, the study suggest among others, that there should be a political will to redress corruption dilemma, tightens accountability, due process and bureaucratic control in project environment. Keywords:   Evaluation, Governance factors, MDAs, Mismanagement, Public project funds ...

Empirical analysis of finance mechanism for public projects delivery in Ondo state, Nigeria

Research Article of American Journal of Financial Management Empirical analysis of finance mechanism for public projects delivery in Ondo state, Nigeria 1Adedeji, D. B, 2Lawal, A. F and 3Simon, O. O 1&2Department of Project Management, Federal University of Technology, Akure. Ondo State. Nigeria; 3Department of Economics, Federal University of Technology, Akure. Ondo State. Nigeria Funding is the life-blood of any project, whether private or public organizations. It may be the release of funds, the ability to spend funds or the access to funds set aside to achieve a successful project delivery. The aim of this study is to assess the financing mechanism (Budget, Grant, Loan, Public Private Partnership (PPP) and NGO’s) and some control variables on public projects finance in Ondo State, Nigeria with a view to provide a framework that will promote effective service delivery, performance and socio-economic development. Data on financing mechanism of public project funds were collected from the Ministries, Departments and Agencies(MDAs) that were directly involved in the implementation of such projects were analysed using descriptive statistics and Pearson Moment Correlation. Findings revealed that budget and grant were the main mechanisms; delays in the completion of public projects were caused by untimely release of funds, mismatch of financing mechanism to the nature of projects and excessive budgeting for capital expenditure above the available resources. Therefore, the study recommends that financing mechanisms should be considered alongside with the nature of public projects to determine the appropriate source. Also, timely and correct disbursement of funds appropriated for projects should be done to avoid inadequacy of funds, project delay and abandonment. Keywords:    Financing mechanism, public project funds, public private partnership, service delivery ...

Leadership Behaviors and Work Effectiveness: Investigating Private Health Sector Jalalabad, Afghanistan

Research Article of American Journal of Financial Management Leadership Behaviors and Work Effectiveness: Investigating Private Health Sector Jalalabad, Afghanistan Mohammad Qasim “AYAZ” Lecturer, Management Sciences Department, Alfalah University Jalalabad, Afghanistan Purpose: The purpose of the study was to examine and investigate the relationship also to know how leadership behaviors influence work effectiveness in private health sector Jalalabad, Afghanistan. Methodology:Questionnaire has been distributed among 250 employees working in private health sector Jalalabad, Afghanistan. Five private hospitals were selected as population and 250 as sample size for collecting data. The analysis through SPSS shows positive and strong relationship between variable. Findings: The findings show insignificant relations between D.V work effectiveness and I.V leadership task & people oriented behaviors in private health sector. Conclusion: The result explored from this study that leadership behaviors plays important role in work effectiveness however task oriented leadership behavior also show more effectiveness in health sector Jalalabad, Afghanistan. Keywords: Leadership, Leadership behaviors, health sector, Work effectiveness ...

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

Dr. ABDUSSALAM ALJADANI
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;

Dr. NEAMŢU ADINA CLAUDIA
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

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