Working capital does not receive a great deal of attention in financial decision making. Perhaps this is because it involves investment and financing for the short term. Nevertheless, it is an important component of firm financial management. This study investigates the relationship between...

The Equity risk-premium and volatility puzzles: Is it possible to have a high-equity premium and a low risk-free rate, and a high volatile stock return, have received a great deal of attention but beyond this, the fundamental issues are the following: What are the economic representations that...

The rational behavior of financial investors is defined by the preference to obtain more wealth, whether from more value or higher dividends. The indicator which represents this main concern, which we shall name Economic Wealth Added, EWA, has neither been characterized, nor explained directly...

Mutual fund holdings data reveal a significant impact of mutual funds on the capital expenditures ("CapEx'') of their portfolio companies. Following the shock to mutual fund ownership caused by the 2003 scandal, during which 25 fund families experienced significant outflows of capital, firms...

Modern institutes of the market form new factors of the global economy. Stock exchanges, other institutes of the investment market, financial Internet communications create the integrated pace of world economic system. The companies test direct influence from global information-financial space....

In article the problem of systemic market efficiency of the enterprise is considered. It is offered to estimate systemic effect of the enterprise concerning market rate of efficiency. The systemic effect is treated as the specified size of the residual income. In the article The concept of the...

The problem of Business Systemic Efficiency becomes actual in the conditions of financial crisis. In article the concept and ways of calculation of Business Systemic Efficiency is considered. The approach to enterprise classification by Business Systemic Efficiency Criterion is shown. Definition...

A municipality is an autonomous sphere of government, and the Constitution of South Africa (1996) provides that all spheres of government must exercise their powers and perform their functions in a manner that does not encroach on the geographical, functional or institutional integrity of...

Public Accounts Committees (PACs) has significant role to play in enhancing oversight and accountability for the use of public funds. This paper discusses the role of PACs in promoting effective, efficient and economic (EEEs) use of public resources for the benefit of the public. It also...