Fianancial Management

This study aims to better understand the role of centralized and decentralized ledgers in the money supply process. The aim is to highlight the strengths, weaknesses, opportunities, and threats of these tools in the context of finance and banking. A thorough investigation of the prior literature was carried out using sources extracted from various academic databases. A SWOT analysis based on an integrative literature review methodology was conducted to synthesize various research contributions and analyze relevant information related to centralized and decentralized ledgers. The findings reveal that centralized ledgers are still critical in the record-keeping of financial transactions, despite the strengths and opportunities of decentralized ledgers outweighing those of centralized ledgers. This study helps to increase the understanding of financial and banking sector managers concerning the importance of decentralized ledgers in delivering more value to customers.

For investing in profitable ventures, the firms intend to recover the investment made in them. Thus, the determination of the respective cost of capital of a venture can provide a base for making decisions on whether to accept the project profitably. In this context, this paper provides some basic explanations to facilitate the learners of the cost of capital with appropriate exhibits for their easy understanding. This paper primarily attempts to explain and illustrate how the determination of the cost of capital for the investment of equity and debt capitals can be made. Relatively, the use of dividend-price and earnings-price measures, Capital Asset Pricing Model (CAPM), Weighted Average Cost of Capital (WACC), Weighted Marginal Cost of Capital (WMCC), and breaking points of financing sources are also explained meaningfully. Further, in determining the optimum capital budget considering various projects, the use of the investment opportunity curve (IOC) and WMCC is also explained and illustrated. Finally, some of the major problems in determining the cost of capital are presented in brief.

The transportation sector is significant for development purpose. Over the past decade, there has been a con-
siderable growth in passenger traffic, which has in turn uplifted the aircraft movements across destinations. Our study aims
to analyze the growth in aircraft movements across top five country pairs in the ASEAN region. The literature review indi-
cated that gross domestic product plays a significant role in determining the air traffic. Hence, a simple econometric model
using real GDP, modified to include time dummies, was used to forecast the air traffic across chosen origin-destination
country pairs. The results of the study supported the increasing aircraft movements and the positive effect of economic
output on air traffic. The forecasts in this paper can be helpful in long-term airway capacity planning, while simulation and
modeling offer an understanding of flight movements across countries in ASEAN.

This study aims to test and analyse the determinants of internal stock returns with annual data observation used from 2014–2015. Following are the types of quantitative research employed in this study. The population of 41 companies with their capitalisation is listed on the Indonesia Stock Exchange (IDX), and their capitalisations report have been consistent for two years. The non-probability sampling technique is purposive sampling. A data analysis using a regression regarding the fixed-panel effect has an R-squared value of 71.6% compared with other models. The results showed that the return on assets, return on equity, debt-to-equity ratio, firm size and growth simultaneously and significantly influence stock returns. Partially, all independent variables have a positive and significant effect on stock returns. Hence, it is advisable to add external factor variables, using sample companies within other industries.

This study aims to determine the results of financial analysis distress in Islamic sharia banking in Indonesia using the 2016-2018 Zmijewski X-Score model. This study uses a quantitative descriptive research design, which is a form of research based on data collected systematically about the facts and properties of the object under study by combining the relationships between the variables involved in it. The data used in the form of secondary data. The sampling technique is using saturated samples so that 14 Islamic banks are obtained as research samples. The results of this study indicate that there are as many as 10 Islamic banks that are in a healthy position in the third year and there are 4 Islamic banks that are in GrayArea even though only one third-year bank is in the gray area of Mega Syariah Bank. all banks that have a result of 0 are included in the Gray area category but if it is smaller than 0 then the bank is in the healthy category while greater than 0 then is in the category of financial distress in this study there are no Islamic banks that experience financial distress.

My thesis focuses on addressing the legal issue of enforcement raised by the process of entering into a transaction using electronic means. In particular, I explore the enforcement of electronic transactions under the Rwandan law, the laws of selected countries and regions, international laws and instruments and it is limited to those transactions that are conducted and enabled by Internet and computer communication utilizing either an open or a closed network. To this end, I examine the enforcement of electronic transactions from both the domestic and international perspective, as it constitutes a comparison in two-folds of describing and analyzing the enforcement of electronic transaction elements in accordance with the legal framework, as well as taking into account the enforcement of electronic transactions according to the regulatory and decision - making bodies by referring to case law and legal doctrine. Finally, it speaks and offers scholars, government legislators, investors, business owners, company owners, consumers who often engage in electronic transactions on a large scale (multi - jurisdictional transactions, international transactions or cross - border transactions) or on a small scale (domestic transactions or national transactions) novel approaches to dealing with identified deficiencies. It also recommends improving the legislation relating to the enforcement of electronic transactions and any other related legislation in order to close the gaps in the enforcement of electronic transactions.
http://dr.ur.ac.rw/handle/123456789/1060

The main purpose of this study is investigate of the effect of financial structure, financial leverage and profitability on company’s value among the firms listed on Tehran's stock exchange between 2010 and 2014. In this study, the data were collected by using of various sources based the official documents on Tehran's stock exchange, including the Tadbirpardaz and Rahavard Novin software have been used for calculation of dependent research variables have been used for calculation of dependent research variables. Nonetheless, data belonging to firms have been reviewed through investigation of journals, disks that are provided by the stock exchange organization and the website of Tehran stock services and also reports published by Tehran's organization of stock exchange. Which was processed after moving to the EXCEL spreadsheet, and using was of data analysis by combined data method. Results have shown that the variable of financial structure has no statistically significant effects on company’s value. Results of the study regarding, there is a positive relationship between financial leverage and profitability on company’s value.

JEL: G32, O16, D53