Risk and Financial Management

Journal Information
ISSN / EISSN : 2690-9790 / 2690-9804
Published by: Ideas Spread (10.30560)
Total articles ≅ 24
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Luis Alberiko Gil-Alana, Samuel Chibuzor Umeh
Published: 26 May 2021
Risk and Financial Management, Volume 3; https://doi.org/10.30560/rfm.v3n2p15

Abstract:
The relationship between economic development and energy in Nigeria is examined in this work. An econometric model is developed to ccount for the factors affecting economic growth and development in the country. The results show that the variables have long memory and all except electricity consumption are non-mean reverting. The series are heterogeneous with respect to the order of integration. Using OLS regressions with fractionally integrated errors, we found that electricity consumption, oil prices, electricity prices, real interest rate and employment affect GDP per capita with only real interest rate having a negative relationship. Policy recommendations are proposed in the article.
Achmad Achsan Zainul Mafakhir Shaleh, Augustina Kurniasih
Published: 26 May 2021
Risk and Financial Management, Volume 3; https://doi.org/10.30560/rfm.v3n2p1

Abstract:
This study aims to examine and analyze the ability of the ERM (enterprise risk management) to mediate the influence of the firm size, leverage, profitability, and institutional ownership on the firm value of the insurance sub-sector listed on the Indonesia Stock Exchange for the period 2015-2019. This study used 12 samples from 16 insurance companies listed on the IDX in 2020 that met the criteria for purposive sampling. The data were processed using a path analysis approach. The results of the research show that firm size has a significant positive effect on ERM, DER and ROA has a significant negative effect on ERM, and institutional ownership were found to have no effect on ERM. Meanwhile, DER and institutional ownership have a significant negative effect on firm value, while firm size and ROA have no effect on firm value. Using the Sobel Test it was found that ERM as an intervening variable was unable to mediate the effect of firm size, DER, ROA, institutional ownership on firm value.
Somaia Osman Mohamed Abdelgadir, Ahmed Osman Ibrahim Ahmed
Published: 19 February 2021
Risk and Financial Management, Volume 3; https://doi.org/10.30560/rfm.v3n1p1

Abstract:
Objective: The tremendous growth in the preparation of higher education institutions for management – marketing, has resulted in the need for and necessity to discuss the quality of that education. From here, the aim of this research was to determine the factors that affect the quality of management education in the Kingdom of Saudi Arabia and to clarify its nature and importance, and the mutual effects on the quality of learning outcomes for marketing education at the individual student and program level, and at the level of the educational institution and its competitiveness. Design / Methodology: The determination of the factors affecting the quality of management education through a review of the literature and then testing its validity and its effects on the quality of marketing education outcomes at the individual, program, and institution level through practical study using survey lists for the teaching courses of government and private universities in the Kingdom of Saudi Arabia. Findings: The studies showed that almost all of the factors studied are highly reliable among themselves, and that they must be seen as coherent, when analyzing their impact on the learning outcomes of marketing education. Applications: The study provided guidance for, administrators, curriculum and course designers, and marketing teachers, to design high-quality marketing-management education programs, and in developing a self-diagnostic tool in which universities can determine their susceptibility to success and competition. Rooting / value: the current literature has shed light on the factors affecting the quality of management education. However, it was taken separately. Therefore, the research contributes to the existing literature by identifying the interrelationships between these factors, which have a role in improving the quality of marketing education.
Abdelkader Derbali
Published: 13 July 2020
Risk and Financial Management, Volume 2; https://doi.org/10.30560/rfm.v2n2p12

Abstract:
To offer alternatives to improve the performance of Islamic financial institutions (IFIs), we try in this paper to examine the applicability of the reliability model, as a tool to help decision. We opted for the investment by Mousharakah contracts and Moudarabah contracts because of their resemblance to venture capital, where the reliability model was mentioned. To do this, we developed a documentary research which allowed us, on the one hand, to dissect the notions of decision and performance and to confirm a possible nexus among the two, and on the other hand, to justify the use of this model. Then, we set up the theoretical framework of the model for a potential application to our case study. Then, and after confirming this relationship, we were interested in the case of investment by the Mousharakah and Moudarabah contracts, given their similarity to other financing methods, namely venture capital, where the reliability model was mentioned as a decision support tool. All in all, we can find that this approach will probably create an investigative implement to aid investment choice and decision for IFIs in the future. The developed model constitutes an analytical decision-making aid tool for Islamic financial institutions in the future for Traders and investors.
Published: 13 July 2020
Risk and Financial Management, Volume 2; https://doi.org/10.30560/rfm.v2n2p37

Abstract:
Objectives - focusing the study's focus on sharing tacit knowledge in non-profit organizations (NPOs) in Portugal and taking as a case study the Portuguese volunteer firefighters (FBs), we listed as objectives ascertaining the main communicational barriers to tacit knowledge sharing and identify action strategies to be implemented by these organizations, with a view to promoting this communication. Design / methodology / approach - A literature review on the barriers to sharing tacit knowledge, namely in its communicational dimension, was followed by a qualitative study, carried out with 8 Portuguese volunteer fire brigades, which allowed an analysis of the prevalence of these barriers and the determination of the main measures to be implemented, with a view to combating them. Conclusions - It was possible to conclude which are the most prevalent communication barriers in these organizations and what measures to be implemented with a view to combating these barriers and promoting the sharing of tacit knowledge by increasing more effective communication. Research limitations - This research focuses exclusively on the sharing of tacit knowledge, not considering other forms of knowledge. As this is a case study, although with very heterogeneous organizations, it cannot be replicated for different realities. Originality / value - Studies in this area, aimed at the NPOs are scarce, as opposed to what happens in the private and public sectors. The case study option of organizations such as the Portuguese FBs, unique in their action and identity, accompanies the need, increasingly recognized by society, in enabling these organizations of competences for the best possible performance, in the face of the tragic events that have occurred in recent years in Portugal.
Habibur Rahman, Al- Amin, Nusrat Sharmin Lipy
Published: 13 July 2020
Risk and Financial Management, Volume 2; https://doi.org/10.30560/rfm.v2n2p47

Abstract:
This research examines the information security of adopting mobile banking and suggests maximizing information security in mobile banking in different ways. Security issues pose a threat to mobile banking adoption and diffusion. Therefore, reliable security measures and improved trust improvement are suggested to address information security in adopting mobile banking for financial services. A questionnaire survey is conducted with users of mobile banking technology. Random sampling is adopted in the study. 650 questionnaires were sent to respondents, and 303 responses were recorded. A confirmatory factor analysis with varimax rotation was conducted following correlation and multiple regression analysis to test the hypothesis of the study. The research finds that (1) perceived security and trust affect mobile banking self-efficacy and performance (SEP) of adopting mobile banking for financial services; (2) Reliable security measure and perceive trust improvement positively influence (SEP) of adopting mobile banking for financial services. This study shows the significance of user perceptions of security by inspecting the content of the security rules of mobile banking for clients’ levels. It includes the adoption of technology in financial services. Therefore, the study links the technology acceptance model (TAM) with the literature on perceived security and trust of adopting mobile banking for financial services. The research has applied to the banking industry to develop and expand its banking market by developing reliable security measures and improving the perceived trust of customers to conduct banking transactions using mobile banking technology.
Rahman Olanrewaju Raji
Published: 13 July 2020
Risk and Financial Management, Volume 2; https://doi.org/10.30560/rfm.v2n2p73

Abstract:
This paper explores the asymmetric nexus between globalization, technological innovation and unemployment within non-linear Autoregressive Distributed Lag (NARDL) framework, Granger causality approach and forecast error variance decomposition technique, covering the period from 2000 to 2018, using quarterly data in Nigeria. To avoid variable omission bias, the study incorporated control variables. The findings showed that both the positive and negative shock of our variables of study indicate varying signs and magnitudes and there is a mixed presence of asymmetries among the nexus, as indicated in the variables for both short and long runs. The results implies that trade globalization, financial globalization and technological innovation biased process innovation contributed to the persistent increase in unemployment rate except technological innovation biased product innovation, which supported the unemployment reduction in Nigeria. These findings were not consistent with existing theories. The results based on the model and empirical data suggest that the authority needs to initiate socially suitable and economic schemes and strategies by ensuring effective and efficient connectivity between globalization and technology via integrating science, technology, research and development. Also, creating an enabling environment that supports and promotes sound and credible government institutions and education including adequate mechanism to ensure optimum utilization of scare resources and avoidance of embezzlement of these limited resources by corrupt officials.
A. Aderibigbe, E. Fragouli
Published: 13 July 2020
Risk and Financial Management, Volume 2; https://doi.org/10.30560/rfm.v2n2p1

Abstract:
Stakeholders face many different risks that arise from any business activity. The stakeholder management approach is the process by which is organised, monitored and improved relationships with business stakeholders. It involves systematically identifying stakeholders; analysing their needs, expectations; planning and implementing various tasks to engage with them. Most definitions of stakeholder management tend to focus around the idea of how could stakeholders be managed in order to get them to do what is equired. The emphasis is placed on creating a stakeholder management plan that maps the level of interest and influence of stakeholders and list various levels of engagement for the different groups. This paper applies a case study methodology presenting the Wal-Mart case and the Malden Mills case to reflect the implications of stakeholder management in companies. The findings indicate the positive but also the negative implications which result when various stakeholders are neglected, and, conversely, the benefits when stakeholders are effectively engaged in corporate activities. It concludes that effective stakeholder management contributes to risk management and reputation management, as well as, to corporate social responsibility.
Irene J. Horera, Mnaku H. Maganya
Published: 13 July 2020
Risk and Financial Management, Volume 2; https://doi.org/10.30560/rfm.v2n2p30

Abstract:
This paper sought to analyze some of the supposed determinants of profitability for insurance firms in Tanzania. Though the success of insurance companies has been linked to the accessibility of financial services by various scholars, yet the way profitability of companies influence success of firms has not been well explored. To undertake the study 10 insurance companies were involved out of 25 general insurance companies operating in Tanzania for 10 years from 2008 to 2017. The data was obtained from financial statements given on TIRA Report and some of them from documentary review. The paper carried out preliminary test of panel unit root to check for stationarity of variables. The appropriate fixed and random effect model test was employed to determine the fitness of the model using the Hausman specification test. Age of the firm found to be statistically influence profit of a company at 5% level while claims cost found to be statically significant at 1% level. Size of a company was found to have no significant contribution to the firms’ profitability. It is therefore recommended that the government and the regulator should smoothen rules, regulations and procedures so that penetration of insurance business to be high and also insurance company should have proper management of claims so that they can reduce expenses and increase profit of a company.
Abdelkader Derbali
Published: 13 July 2020
Risk and Financial Management, Volume 2; https://doi.org/10.30560/rfm.v2n2p19

Abstract:
In recent years, companies' actions towards factors of production have multiplied. The human dimension is increasingly present in decisions and companies feel socially responsible. The sustainability of companies necessarily requires limiting the negative environmental effects because of these production activities. Ethical finance in general, whether Islamic or not, is a growing demand on the part of consumers and states. The aim of this paper is to assess the risk of two ethically responsible indices such as S&P500 Shariah index and S&P500 Environment and Socially Responsible index. In this paper, we will conduct a comparative study of market risk on two ethically responsible indices: the Islamic Index of the Shariah (S&P500 Shariah index) and the S&P500 Environment and Socially Responsible index during the period from 30/09/2010 to 21/09/2018. The evolution of the market will be represented by the general index of the S&P500. To do this, we use different approaches to value at risk such as VaR parametric approach, VaR non-parametric approach and the Theory of Extreme Values approach. Our results show that, on the one hand, the S&P500 Environment and Socially Responsible index is less risky than the S&P500 Shariah index and the S&P500 index. On the other hand, the S&P500 Shariah index is at low risk when yields are extreme. We conclude that the S&P500 Environment and Socially Responsible index is less risky than the Shariah S&P500 Index when you consider that yields are moving under normal market conditions.
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