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Zeitschrift für Wirtschaft und Finanzen

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Volumen 8, Ausgabe 1 (2019)

Rezensionsartikel

Corporate Governance and Firm Performance: The Case of Tunisian

Jaleleddine Ben Rejeb and Ibtissem Missaoui

In this article the effect of the corporate governance mechanism on corporate financial performance is studied. For this study, a sample of 22 companies is used. Data is used for the period between 2006 and 2015. The variables, employed in this study to measure firm performance, include return on assets, return on equity and price earnings ratio.

In this study we used ownership concentration, ownership foreign, duality_CEO, leverage, firm size and price earnings ratio are the independent variables and their effects were measured on financial variables that are ROA, ROE and EPS.

The principle findings describe above: we found no significant relationship between ownership concentration and ROE and the no significant liking between ownership concentration and EPS. Also, we found no significant relationship between ownership foreign and ROE. However, the association between ownership foreign and ROE and EPS are significant. Also, CEO_Duality and ROE have a significant and positive relationship.

Forschungsartikel

Daily Exchange Rate EURO/USD: ARDL Methodology to Co-Integration

Mahmoud Mourad

The study research showed the importance of the ARDL model with co-integration in the monitoring of the relationship between the highest daily value of the exchange rate (HIGH) for the EURO against the US dollar (EURO to USD) and the opening price (OPEN) in the short and long terms. The error correction model (ECM) showed high efficiency in forecasts (ex-post forecasts) over a very long run covering three hundred and seventythree days, as indicated by the mean absolute percentage error. Finally, the ECM model revealed an important speed of adjustment in modifying the deviation and returning to equilibrium after a certain shock in the relevant time series, so that approximately 15.35% of the deviation from the target, between the two variables (HIGH) and (OPEN), would be corrected within one day. Finally, our results also revealed that the Chow predictive and cumulative sum (CUSUM) tests roughly supported the parameters stability of the estimated Restricted Error Correction (REC) Model.

Forschungsartikel

The Influence of Bank Lending on Corporate Financial Performance of Deposit Money Banks Quoted on the Nigerian Stock Exchange

Aza Ibrahim Eyigege and Nguavese MN

Deposit money banks in Nigeria do render lending services to their customers in form of short, medium or long term basis especially from customer deposit taking. Individuals, business organizations as well as government do receive loans and advances to enable them invest, develop and contribute towards the development of a country. This research work investigates the influence of bank lending on financial performance of deposit money banks quoted on the Nigeria stock exchange. The study adopt a descriptive research design using a cross-sectional panel data of 12 years to examine the influence of bank lending proxied as (loans and advances to total deposit) on financial performance using profitability and liquidity as dependent variables proxied as ROA and CA/CL respectively. The study utilizes a sample of selected five deposit money banks out of the population of 21 with the use of Yemane’s sampling technique. The study adopts panel data OLS regression and fixed effect regression analysis. The finding of the study indicates insignificantly positive influence of bank lending on financial performance of deposit money banks quoted on the Nigeria stock exchange. The study therefore recommends that deposit money banks in Nigeria should mobilize more deposits in order to enhance their lending capability and should formulate comprehensive and realistic financial plans to boost financial performance.

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