International Journal of Accounting, Finance and Risk Management

Volume 5, Issue 1, March 2020

  • Impact of European Funds on Value Creation of Portuguese Companies

    Nuno Teixeira, Luís Vitorino, Rui Brites, Teresa Godinho

    Issue: Volume 5, Issue 1, March 2020
    Pages: 1-11
    Received: Dec. 24, 2019
    Accepted: Dec. 31, 2019
    Published: Mar. 10, 2020
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    Abstract: This work aims to highlight the impact of Community funds on the capacity to create financial value of Portuguese companies. We develop a theoretical framework with a reflection on various topics relevant to research, namely the importance of investments for companies, the concepts of financial performance and the logic of value creation, the metri... Show More
  • Operating Risk (Cost-Volume-Profit) and Economic Value Added (EVA®)

    Ana Bela de Sousa Delicado Teixeira, Rosa Maria Morgado Galvão, Sandra Cristina Dias Nunes

    Issue: Volume 5, Issue 1, March 2020
    Pages: 12-25
    Received: Dec. 24, 2019
    Accepted: Jan. 02, 2020
    Published: Mar. 10, 2020
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    Abstract: Today, it is unquestionable the importance that organizational management is supported by indicators. Also, knowledge of value creation and operating risk are information that differentiates this management support. This study aimed to verify the relationship between the value creation generated by companies included in the sample and the indicator... Show More
  • Value Creation: EVA® Value Drivers - The Case of Euronext Lisbon

    Rosa Maria Morgado Galvão, Ana Bela de Sousa Delicado Teixeira, Sandra Cristina Dias Nunes

    Issue: Volume 5, Issue 1, March 2020
    Pages: 26-39
    Received: Dec. 24, 2019
    Accepted: Jan. 02, 2020
    Published: Mar. 10, 2020
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    Abstract: Value-based management has gained prominence in both business and academia, supported by the notion that It is no longer sufficient for a company to generate profit, it is also required that the profit be higher than the cost of the total capital invested in the company. To increase value creation, managers need to understand which are its relevant... Show More
  • Testing the Weak Form of Efficient Market Hypothesis: Empirical Evidence from Equity Markets

    Rui Dias, Paula Heliodoro, Nuno Teixeira, Teresa Godinho

    Issue: Volume 5, Issue 1, March 2020
    Pages: 40-51
    Received: Dec. 24, 2019
    Accepted: Jan. 02, 2020
    Published: Mar. 10, 2020
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    Abstract: The aim of this paper is to analyse integration and test the hypothesis of an efficient market, in its weak form, in sixteen international financial markets. The sample covers the period from January 2002 to July 2019 and is divided into three sub-periods. In order to achieve such an analysis, the aim is to provide answers to two questions. Has the... Show More
  • Financial Instruments’ Disclosure in Compliance with IFRS 7: The Portuguese Companies

    Francisco Leote, Clarisse Pereira, Rui Brites, Teresa Godinho

    Issue: Volume 5, Issue 1, March 2020
    Pages: 52-61
    Received: Dec. 30, 2019
    Accepted: Jan. 06, 2020
    Published: Mar. 10, 2020
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    Abstract: The constant changes in the business context and international relations have led companies to be provided with financial reporting with useful information, including their relevance, comparability and harmonization as required by International Financial Reporting Standards (IFRS). This study analyzes the level of disclosure of derivative financial... Show More
  • The Impact of Financial Leverage on the Performance of Commercial Banks: Evidence from Selected Commercial Banks in Ethiopia

    Desta Zelalem

    Issue: Volume 5, Issue 1, March 2020
    Pages: 62-68
    Received: Oct. 16, 2019
    Accepted: Dec. 24, 2019
    Published: Apr. 14, 2020
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    Abstract: The financing decision function of corporate finance deals with determining the best financing mix or capital structure of the firm in order to maximize the value of firm or wealth of owners. In Ethiopia, Commercial Banks use a combination of debt and equity source of finance in their capital structure. Each source of finance has its own cost of ca... Show More