Volume-3 ~ Issue-1
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| Paper Type | : | Research Paper |
| Title | : | Determinant of Financial Structure Decision in Small and Medium Enterprises: A Pilot Study of Selected Registered Companies in Nigeria |
| Country | : | Nigeria |
| Authors | : | Akingunola, Richard, Oyetayo, Oluwatosin |
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: | 10.9790/5933-03110108  |
Abstract: In the world of corporate finance, financial structure decision of firms remains one of the most critical. Previous empirical studies have identified factors like size, asset structure, tangibility, profitability, risk, growth and market-to-book ratio all of which have been exhausted in literature as determinants of financial structure of firms. However, research on verifying the existence of these factors in small size firms has been minimal. This study presents a sample of SMEs in Nigeria which serves as a pilot survey for the test of the existence and strength of the identified determinant factors of financial structure. A panel data of ten firms for five years was analyzed using the pooled OLS. The result reveals profitability and size as the only determinant factor for firms under study. This shows a deviation from other studies on small firms in developing economies, the reason which may be country specific. The study provides a starting point for a more inclusive and comprehensive study on financial structure decisions of SMEs in Nigeria.
Key words: financial structure, small sized firms, determinant factors, pilot study
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| Paper Type | : | Research Paper |
| Title | : | South-South cooperation – policy and practice by the Export Import Bank of China |
| Country | : | China |
| Authors | : | ATM Tariqul Islam, Li Xiaoyun |
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: | 10.9790/5933-03110919 |
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| Paper Type | : | Research Paper |
| Title | : | Cost and Return Analysis of Cricket Bats Manufacturing Industry in Kashmir Valley of India |
| Country | : | India |
| Authors | : | Imtiyaz ul Haq, Bilal Ahmad Dar |
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: | 10.9790/5933-03112031 |
Abstract: Cricket Bats manufacturing industry is a very prominent segment of the sports goods industry in Kashmir valley. Cricket bats are manufactured from willow wood which is found in abundance in Kashmir valley owing to its peculiar climatic conditions. Although, this industry has got promising prospects to flourish due to huge demand-supply gap, yet its growth has remained, by and large, restricted to District Anantnag only. With this backdrop, the present study was conducted to actually examine the status and viability of this industry. A detailed cost and return analysis has been worked out for a sample of 20 percent constituting about 40 industrial units chosen through random sampling technique. After a thorough analysis, net return per rupee of investment ratio works out to be 1.60, meaning thereby that this industry is reaping abnormal profits. There is further evidence that the condition of increasing returns to scale prevails. However, our cost analysis suggests that raw material in the form of willow wood constitutes about 50 per cent of cost of production, hence imposing checks to its further expansion. Furthermore, about 80 per cent of the sample entrepreneurs in this activity were found in the working age population, having some level of educational qualifications, sole proprietorship with more than 10 years of experience.
Keywords: cricket bats, cost structure, Kashmir, profitability, returns to scale.
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