ORIGINAL RESEARCH ARTICLE | March 30, 2019
The Role of Capital Structure on Firm’s Profitability of Listed Cement Sector in Pakistan Stock Exchange
Muhammad Rehan, Jahanzaib Alvi, Saad Khatri
Page no 107-116 |
10.21276/sjef.2019.3.3.1
The main purpose of this research is to find out the relationship between capital structure (debt-equity) as and
Profitability of the listed cement companies in Pakistan Stock Exchange. Further specific objective is to find out relation
of debt equity with gross profit, earning per share, and return on capital and return on equity. The sample is taken from
10 cement companies which are listed on Pakistan stock exchange. The secondary data is taken from 2011 to 2018 (i.e. 8
years). Mean and standard deviation of all ratios and Pearson product correlation analysis is performed with the help of
Eviews 9 to find the relationship between capital structure and profitability. This research determines that debt / equity
(Capital Structure) is adversely linked with the profitability, it suggests that decrease in the profitability of the
organizations is due to increase in debt capital & vice versa.
ORIGINAL RESEARCH ARTICLE | March 30, 2019
Testing Models of Relationship Participation, Task Complexity, System Complexity and Satisfaction with Performance
Yudi Sutrasna, Zaenal Abidin S, Priza Udermando Purba
Page no 117-125 |
10.21276/sjef.2019.3.3.2
The transformation of the Ministry of Defense's budget policy, the Indonesian National Armed Forces Headquarters
and three other departments (Army Headquarters, Navy Headquarters and Air Force Headquarters) from the money
follow function to money follow approach requires the implementation and development of holistic financial planning,
budgeting and management information systems. thematic and integrative. The pattern of relationships between
variables concerning human resources in organizations, such as user participation, user satisfaction, user perceptions
of task complexity, perceptions of system complexity and perceptions of system performance determine the
effectiveness and efficiency of information systems. This study aims to find out what the overall level of compatibility
of the model explains the direct and indirect relationship between participation, task complexity, system complexity,
satisfaction with performance. Using a single cross-sectional survey design, data collection through face-to-face
interviews with 209 information system users with a questionnaire as the main data collection tool and data analysis
applying the structural equation model (Structural Equation Model) with the help of LISREL 8.5 software, this study
concluded that there were compatibility of the whole model, measurement model and structural model hypothesized
by research with data obtained from research (survey).
ORIGINAL RESEARCH ARTICLE | March 31, 2019
External Sector Aggregates and Economic Growth in Nigeria
Francis Agboola Oluleye, Augustine Armstrong Horgan
Page no 126-133 |
10.21276/sjef.2019.3.3.3
The study examined the impact of the external sector aggregates on economic growth in Nigeria for the period 1980-
2016. The external sector aggregates used were external debt, exchange rate and export. A combination of correlation
analysis and Error correction mechanism was employed in this study. Pre-estimation tests showed no evidence of
multicollinearity and all the variables were integrated of order one, I (1). Johansens cointegration test showed four
cointegrating equations indicating the existence a long-run relationship which provides a reason for error correction
modeling. The error correction results showed that EXR had a negative and significant impact on economic growth
while external debt (EXD) and export (EPP) had positive and significant impact on GDP, respectively. The ECM term
had the hypothesized negative sign and was statistically significant at 5% level. Economic growth adjusts to long-run at
the speed of 29.98% per annum. There was no serial correlation problem. Results are therefore appropriatre for policy
analysis. The study concluded that external sector aggregates have significant impact on economic growth in Nigeria but
the impact could be positive or negative depending on the variable of interest. Among other things the study
recommended that there should be promotion of the country’s export trade and stimulation of domestic production.
ORIGINAL RESEARCH ARTICLE | March 31, 2019
Some of the Most Influential Investment Issues in Malang, Indonesia
Priyono
Page no 134-150 |
10.21276/sjef.2019.3.3.4
The purpose of this study was to find out and test whether wages affect regional investment, whether inflation affects
regional investment, whether exchange rates affect regional investment, and which between wages, inflation, and
exchange rates are very dominant influence on regional investment. This study uses a quantitative approach, while the
object of research is all labor in Malang. And researchers took data from the Central Bureau of Statistics in the city of
Malang which numbered 1,273,579 workers. The results of data analysis using multiple linear regressions with the help
of SPSS version 20.0 and the discussion that has been done, all variables affect regional investment.