Papers by S M Rakibul Anwar
Global Journal of Management and Business Research, 2017
Net assets value is the widely used techniques to know the fund’s overall performance. NAV calcul... more Net assets value is the widely used techniques to know the fund’s overall performance. NAV calculation of mutual funds in Bangladesh is guided by Bangladesh securities exchange commission (BSEC). Sharpe ratio, Treynor ratio and Jensen’s Alpha are the three popular indicators that are used by investor and researcher to know the performance of mutual fund. In this paper an attempt is made to evaluate the performance of 31 growth oriented mutual funds on the basis of weekly NAV and Weekly close price compared to benchmark returns. For this purpose, risk adjusted performance measures suggested by Jenson, Treynor and Sharpe are employed widely known as Treynor ratio, Sharpe ratio, and Jensen’s alpha. This study found that over the research period selected mutual funds shows large negative return than and downward trend in comparison to market return.
International Journal of Financial Research, 2016
The core objective of this paper is to uplift the feasibility of hotel industry of Cox's Bazar of... more The core objective of this paper is to uplift the feasibility of hotel industry of Cox's Bazar of Bangladesh. Here the analysis of the financial statement of the most standard hotel has been made. Standard methods are used to collect information. Both primary and secondary sources are used. For research purpose financial information of five popular local hotel of Cox's Bazar, Hotel the Seagull, The Cox Today, The Ocean Paradise, The Sayman and The long Beach hotel has been collected. Firstly, in the literature review, the importance of financial performance analysis using different financial statement and uses of ratio analysis has been shown. Financial statements of hotels of Cox's Bazar are mainly used to orchestrate this research. The findings show the performance of the hotel industry over the last five years. Here gradually hotel industry performing well compared to the previous years. Ratio analysis and trend analysis conducted to analyze the financial position and feasibility of hotel industry. This research has shown the enlightening and profitable future of hotel industry in Cox's Bazar. Because some popular capital budgeting techniques like Payback period, Accounting Rate of Return and Net present value are used and these techniques give a positive result in all case.
Research Journal of Finance and Accounting, 2015
Working capital management is the key to success for the manufacturing firm. As a manufacturing f... more Working capital management is the key to success for the manufacturing firm. As a manufacturing firm the profitability of cement industry mainly depends on the efficient management of working capital e.g. managing the current assets and current liabilities satisfactorily. This study is decorated to outline the profitability and working capital position of selected cement industries, correlation between them and whether the profitability is affected by working capital management. Ratio Analysis have been used to show Profitability position & Working Capital position, Correlation Matrix have been used to show correlation between them and Regression Analysis have been used to show the impact of Working Capital management on Profitability respectively. The study is mainly based on secondary data. The study reveals that Profitability position & Working Capital position over the study period is not satisfactory. From the study it is also found that there is significantly positive correlat...
Journal of Economic Studies
PurposeData envelopment analysis (DEA) calculates the efficiency of a business unit if all the in... more PurposeData envelopment analysis (DEA) calculates the efficiency of a business unit if all the inputs are creating outputs within a “black box.” Under traditional DEA, the detailed process of that business unit is ignored. However, a network DEA can explain the black box structure and provide efficiency results for sub-sections within any business process. This study aims to propose a network DEA model that explains a bank's total operation.Design/methodology/approachEarlier studies have focused only on bank efficiency ignoring this breakdown. This study departs from them by using a slack-based two-stage network DEA under a novel banking business perspective.FindingsThe results reveal that network DEA provides better benchmarking insights than the traditional DEA. As such, better benchmarking can guide both the banking industry managers and policy makers in Bangladesh.Originality/valueThe major contribution of this study includes dividing a bank's total operation efficiency ...
Non-Bank Financial Institutions (NBFIs) in Bangladesh are contributing to the economy by diversif... more Non-Bank Financial Institutions (NBFIs) in Bangladesh are contributing to the economy by diversifying its investment from lease financing to housing financing, merchant banking, venture capital financing and equity financing. The aim of this paper is to show the structural development of NBFIs, performance appraisal of NBFIs and their contribution to the economy in line with GDP. This paper reveals that more participation of private firms in non-banking financial sectors makes this sector less concentrated and more competitive. This paper also finds out that cost of fund of NBFIs is decreasing over the period that indicates rising capacity of borrowing low-cost fund of NBFIs. But the reduction in the cost of the fund could not improve the much to increase the ROA & ROE due to increasing in operating expense, lack of investment opportunity and blocked money in the capital market. Further, NBFIs have high non-performing loan rate that is gradually increasing in nature. The whole indus...
International Journal of Financial Research
Financial inclusion ensures financial products and services at reasonable rates for individuals a... more Financial inclusion ensures financial products and services at reasonable rates for individuals and aims to introduce unbanked people into banking and financial services. The study aims to explore the effect that mobile banking facilities have on financial inclusion in 17 developing countries. From 2011 to 2017, this study took data from the three dimensions of financial inclusion called "Penetration," "Access," and "Uses". This paper took the Sarma model of Index of Financial Inclusion (IFI) to measure financial inclusion. This paper incorporates mobile money accounts as a "penetration" variable and Mobile banking outlet as an "Access" variable with existing model variables to quantify the effect of mobile banking. This research finds that mobile banking positively impacts the selected countries, though the degree of the changes is not symmetric. African regional countries have improved their financial inclusion after introducing mo...
Small and Medium Enterprises (SMEs) are contributing in economic development worldwide. Research ... more Small and Medium Enterprises (SMEs) are contributing in economic development worldwide. Research shows that the main challenge for getting loans is information asymmetry between external creditors and SMEs themselves. This makes SMEs investment more risky and vulnerable for the investors. In this situation, credit rating agencies play an important role by rating the SMEs that reflects overall creditworthiness of the SMEs. The aim of this paper is to identify major problems and prospects of SMEs financing and comparative rating process of SMEs in Bangladesh. Presently, credit rating agencies in Bangladesh follow the similar process as in Japan and India. A major problem arises because rating fees is the key source of revenue for credit rating agencies which infuses a conflict of interest of marking high ratings. Moreover, Bangladesh still could not establish institutions which exists in developed countries e.g., Credit Guarantee Corporations (CGC) that supports SMEs as a credit guarantor in Japan. Apart from this, Bangladesh government may encourage boosting investor pay or subsidized model (this is at practice in India) that increases SMEs rating.
The core objective of this paper is to uplift the feasibility of hotel industry of Cox's Bazar of... more The core objective of this paper is to uplift the feasibility of hotel industry of Cox's Bazar of Bangladesh. Here the analysis of the financial statement of the most standard hotel has been made. Standard methods are used to collect information. Both primary and secondary sources are used. For research purpose financial information of five popular local hotel of Cox's Bazar, Hotel the Seagull, The Cox Today, The Ocean Paradise, The Sayman and The long Beach hotel has been collected. Firstly, in the literature review, the importance of financial performance analysis using different financial statement and uses of ratio analysis has been shown. Financial statements of hotels of Cox's Bazar are mainly used to orchestrate this research. The findings show the performance of the hotel industry over the last five years. Here gradually hotel industry performing well compared to the previous years. Ratio analysis and trend analysis conducted to analyze the financial position and feasibility of hotel industry. This research has shown the enlightening and profitable future of hotel industry in Cox's Bazar. Because some popular capital budgeting techniques like Payback period, Accounting Rate of Return and Net present value are used and these techniques give a positive result in all case.
Net assets value is the widely used techniques to know the fund's overall performance. NAV calcul... more Net assets value is the widely used techniques to know the fund's overall performance. NAV calculation of mutual funds in Bangladesh is guided by Bangladesh securities exchange commission (BSEC). Sharpe ratio, Treynor ratio and Jensen's Alpha are the three popular indicators that are used by investor and researcher to know the performance of mutual fund. In this paper an attempt is made to evaluate the performance of 31 growth oriented mutual funds on the basis of weekly NAV and Weekly close price compared to benchmark returns. For this purpose, risk adjusted performance measures suggested by Jenson, Treynor and Sharpe are employed widely known as Treynor ratio, Sharpe ratio, and Jensen's alpha. This study found that over the research period selected mutual funds shows large negative return than and downward trend in comparison to market return. Abstract-Net assets value is the widely used techniques to know the fund's overall performance. NAV calculation of mutual funds in Bangladesh is guided by Bangladesh securities exchange commission (BSEC). Sharpe ratio, Treynor ratio and Jensen's Alpha are the three popular indicators that are used by investor and researcher to know the performance of mutual fund. In this paper an attempt is made to evaluate the performance of 31 growth oriented mutual funds on the basis of weekly NAV and Weekly close price compared to benchmark returns. For this purpose, risk adjusted performance measures suggested by Jenson, Treynor and Sharpe are employed widely known as Treynor ratio, Sharpe ratio, and Jensen's alpha. This study found that over the research period selected mutual funds shows large negative return than and downward trend in comparison to market return. Market risk premium was also negative in these periods. In case of mutual it was worse than the market return. Out of 37 mutual funds, only two firms got the positive Sharpe ratio and only one firm got the positive ratio. Various risk return measurement shows negative performance indication with exception of few mutual funds scheme due to better performance than the market return through proper diversification. It can be concluded that, the growth oriented mutual funds have not performed better than their respect to volatility very few of the funds have performed better. Growth oriented mutual funds are expected to offer the advantages of diversification, market timing and selectivity. For broadening the depth of the capital market, it is necessary to float more mutual funds since these are good instruments of mobilizing savings and providing investment opportunities to small savers. But the percentage of capitalization of mutual fund is only 1.09 of total capitalization of DSE. The evidences with available data related to DSE in Bangladesh are analyzed in relations with theoretical and mathematical tools. It is concluded that further rigorous research needs to be done through Fama model and Cahart model of measuring mutual fund performance.
Non-Bank Financial Institutions (NBFIs) in Bangladesh are contributing to the economy by diversif... more Non-Bank Financial Institutions (NBFIs) in Bangladesh are contributing to the economy by diversifying its investment from lease financing to housing financing, merchant banking, venture capital financing and equity financing. The aim of this paper is to show the structural development of NBFIs, performance appraisal of NBFIs and their contribution to the economy in line with GDP. This paper reveals that more participation of private firms in non-banking financial sectors makes this sector less concentrated and more competitive. This paper also finds out that cost of fund of NBFIs is decreasing over the period that indicates rising capacity of borrowing low-cost fund of NBFIs. But the reduction in the cost of the fund could not improve the much to increase the ROA & ROE due to increasing in operating expense, lack of investment opportunity and blocked money in the capital market. Further, NBFIs have high non-performing loan rate that is gradually increasing in nature. The whole industry is doing well in terms of collection of total deposits and lending credit although NPL rate is high. A highly positive correlation is found between total assets of NBFIs and GDP of Bangladesh that contents a positive contribution of NBFIs in the economy.
The core objective of this paper is to uplift the feasibility of hotel industry of Cox's Bazar of... more The core objective of this paper is to uplift the feasibility of hotel industry of Cox's Bazar of Bangladesh. Here the analysis of the financial statement of the most standard hotel has been made. Standard methods are used to collect information. Both primary and secondary sources are used. For research purpose financial information of five popular local hotel of Cox's Bazar, Hotel the Seagull, The Cox Today, The Ocean Paradise, The Sayman and The long Beach hotel has been collected. Firstly, in the literature review, the importance of financial performance analysis using different financial statement and uses of ratio analysis has been shown. Financial statements of hotels of Cox's Bazar are mainly used to orchestrate this research. The findings show the performance of the hotel industry over the last five years. Here gradually hotel industry performing well compared to the previous years. Ratio analysis and trend analysis conducted to analyze the financial position and feasibility of hotel industry. This research has shown the enlightening and profitable future of hotel industry in Cox's Bazar. Because some popular capital budgeting techniques like Payback period, Accounting Rate of Return and Net present value are used and these techniques give a positive result in all case.
Working capital management is the key to success for the manufacturing firm. As a manufacturing f... more Working capital management is the key to success for the manufacturing firm. As a manufacturing firm the profitability of cement industry mainly depends on the efficient management of working capital e.g. managing the current assets and current liabilities satisfactorily. This study is decorated to outline the profitability and working capital position of selected cement industries, correlation between them and whether the profitability is affected by working capital management. Ratio Analysis have been used to show Profitability position & Working Capital position, Correlation Matrix have been used to show correlation between them and Regression Analysis have been used to show the impact of Working Capital management on Profitability respectively. The study is mainly based on secondary data. The study reveals that Profitability position & Working Capital position over the study period is not satisfactory. From the study it is also found that there is significantly positive correlation between profitability and working capital components as well as impact of day sales outstanding (DSO) on profitability ratios is negatively significant. The study recommended that sample cement industries should reduce their day sales outstanding (DSO) for improving their profitability position. Introduction In any organization a financial manager has to take three key decisions such as financing decision, investment decision and dividend decision. Among these the most important decision is financing decision. Here financing and investment decision includes both long-term and short-term decision. Basically short-term investment and financing is the working capital of an organization. In a narrow sense working capital is the difference between current assets and current liabilities of a firm. But in broad sense working capital is the firm's investment in the current assets such as cash, marketable securities, account receivable and inventory. That is working capital indicates the capital required to satisfy the day to day operation of an organization. Working capital is very from firm to firm and industry to industry. For better understanding in this study we conceptually isolate working capital between operational and financial. The operational working capital includes accounts receivable, inventories and accounts payable that affects the firm's operation. Firm's financial working capital includes cash, marketable securities, prepaid and all other current liabilities. This study basically focuses on operational working capital of the firm's. To effectively manage working capital the company needs to direct attention to four different short term assets: account receivable, inventories, cash and short-term securities (Brealey; Myres&Allen, 2006 pp 813). Working capital is most essential for manufacturing firms because they require to maintaining a balance between liquidity and profitability while conducting its day to day operations. That is working capital is the most crucial factor for maintaining liquidity, survival, solvency and profitability of business. The impact of working capital management on profitability is highly important, because, firms required a balance between risk and efficiency to achieve an optimal level of working capital. Optimization of working capital balance means minimizing the working capital requirement and realizing maximum possible revenues (Ganesan, 2007). There is a strong relationship between the firm's profitability and its working capital efficiency (Shin, 1998). Profitability means generating sufficient amount of cash inflow to satisfy the entire stakeholder (employee, employer, worker etc) of an organization. When revenue of an organization is greater than cost then profit is generated. Profit is the absolute measure of the firm's performance where profitability is the relative
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Papers by S M Rakibul Anwar