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Sonia Rezina

Uttara University, Business Administration, Faculty Member

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Sonia Rezina was born in Dhaka, Bangladesh. She completed her B.B.A (Bachelor of Business Administration) Degree in 2008 and M.B.A (Masters of Business Administration) Degree in 2010 from the Faculty of Business Studies, University of Dhaka. At present, she is working full-time as an Assistant Professor in the Department of Business Administration at Uttara University, Dhaka, Bangladesh.

She has accumulated experience of more than 14 years of tertiary teaching in the Finance field with in-depth knowledge. So far, she has participated in different national and international research conferences. She has a number of her research works published in both national and international journals which have mainly covered the issues related to Corporate Finance, Financial Markets and Institutions. She is actively involved in various cultural and social activities.

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Papers by Sonia Rezina

Two Years of Fighting the COVID-19 Pandemic: An Analysis of the Policy Plurality and Response Performance of Emerging Economies

International Journal of Asian Social Science

The COVID-19 pandemic has ruined the faster growth patterns of emerging economies. Emerging econo... more The COVID-19 pandemic has ruined the faster growth patterns of emerging economies. Emerging economies with their constrained of resource availability and resource allocation response to the epidemic differently based on the extent of damage and recovery required. While there is no ‘one size fits for all’ approach in policy responses, a combination of policy tools employed by rising nations may provide critical insights into their actual economic capabilities. In this paper, from January 2020 to December 2021, we examine and evaluate the policies adopted by emerging economies to combat the pandemic. IMF's Policy Tracker database is used to encode, analyze, and assess 25 selected emerging economies' policies at the global, regional, and income levels. Emerging economies use a wider portfolio of policy tools with better coverage, with budgetary biases. Findings could help understand the heterogeneity of policy responses across emerging economies during the pandemic’s economic d...

Non-Performing Loan in Bangladesh: A Comparative Study on the Islamic Banks and Conventional Banks

Indian Journal of Finance and Banking, 2020

The banking business is one of the booming businesses in Bangladesh. But at present, the sector i... more The banking business is one of the booming businesses in Bangladesh. But at present, the sector is struggling to be on the growth path due to the growing proportion of Non-Performing Loan (NPL). The NPL has instigated a negative influence on the growth of Banking Business. This study has compared the severity of the impact of operational modes between two mainstream banking systems, traditional banking and Islamic banking, which may affect Non-performing loans. Other variables such as governance of the banks, bureaucracy, and size of the banks, the difference in reserve ratio, capital adequacy ratio, and interest rates have different impacts on NPL. We have explained the impact of the variables on the bank performance as per mainstream banking operational model. Finally, we have proposed some evocative measures through which the Non-performing loan can be minimized.

Factors Affecting the Capital Structure of the Textile Industry in Bangladesh: An Inferential Study

Financial Risk and Management Reviews, 2020

The main objective of the study is to recognize the major factors influencing the capital structu... more The main objective of the study is to recognize the major factors influencing the capital structure of the textile firms and to identify the association among them from the context of Bangladesh. The researchers reviewed different conditional theories of capital structure before identifying the determinants of the textile firms. For this purpose, panel data for A-category listed textile companies of the Dhaka Stock Exchange were selected. The study developed multiple regression models for the period 2008 to 2017. Key -independent variables include firm profitability, tangibility, growth, age, liquidity and Size. Leverage ratio was used as the dependent variable. The study explored that profitability; firm size and liquidity have significant positive relationship with the debt ratio, which is consistent with the Trade-off theory. On the other hand, tangibility, growth rate and age are not significantly related with the said ratio. The findings of this study will help financial managers to make the right decisions on fund borrowing and equity financing. Then they can use borrowing in a proper way to support the market value of their companies. Contribution/Originality: This study is one of the very few studies which have investigated the direct relationship of determinant factors with the debt maturity of the listed textile companies in the stock exchange by using panel data analysis.

Drivers Behind the Financial Insolvency: An Empirical Study on the Textile Industry in Bangladesh

The Economics and Finance Letters, 2020

The main purpose of the research study is to assess the financial soundness of the textile indust... more The main purpose of the research study is to assess the financial soundness of the textile industry in Bangladesh. The effects of financial ratios have also been examined. The research has been designed based on published quantitative data in the stock market. 35 listed companies that consist of A-Category, B-Category and Z-category companies were analyzed. In this research study, five financial ratios have been analyzed and tested using the Altman Z-score model. Statistical correlation among the financial ratio was examined to depict the picture of financial distress among the different categories of companies in Textile industries in Bangladesh. Most of the A category companies are in Safe Zone or financially sound, B category companies are into Grey Zone and Z category companies are in distress zone. The outcome of the study can be valuable for the financial managers to take important managerial as well as financial decisions, the shareholders to take appropriate investment decisions and bankers to evaluate the prospective borrowers' credit risk and renew loans of the concerned textile manufacturers of the country. This study is one of the very few studies which have examined the direct relationship of financial ratios with Z-score values regarding different categories of listed textile companies in the stock exchange by using panel data analysis.

Contribution of StockMarket Towards Economic Growth: An Empirical Study on Bangladesh Economy

European Scientific Journal, 2017

The economic growth of a country is influenced by many different factors. This study aims to inve... more The economic growth of a country is influenced by many different factors. This study aims to investigate the causal relationship between stock market development and economic growth in Bangladesh as well as the impact of stock market performance upon the economic growth of Bangladesh. The stock market performance has been measured by market capitalization ratio, number of listed companies, total value traded and turnover ratio; and the economic growth was represented by real gross domestic product. The periods taken for study were from year 1994 to year 2015.The effect of the stock market reform will also be addressed to explain the relationship. The study has been conducted using Augmented Dickey- Fuller Unit Root Test, Johansen Cointegration Test and the Granger Causality Test. The findings of the research should help the policy makers and regulators to look after their interest in the financial sector of the country.

An Inferential Study on the Profitability Determinants of the Cement Industry in Bangladesh

Asian Finance & Banking Review, 2020

This paper examines the impacts of firm-specific and macroeconomic factors in determining the pro... more This paper examines the impacts of firm-specific and macroeconomic factors in determining the profitability of the cement industry in Bangladesh. This study took stock exchange listed all cement companies of Bangladesh as samples and covered the period of 2000–2018. Return on Assets (ROA) was chosen as the dependent variable and firm size, expense to revenue ratio, leverage, age, inflation rate, GDP growth rate, and real interest rate were chosen as independent variables where the first four are firm-specific and the other three are macroeconomic factors. This study considered ROA as the profitability measurement of the firms. The study found that leverage, GDP growth rate, and real interest rate have significant impacts on the profitability. Firm size, age, GDP growth rate, and real interest rate have a positive impact whereas expenses to revenue ratio, leverage, and inflation have a negative impact on the profitability of the firms under the cement industry.

Customer Perception on Bank Service Quality: A Comparative Study between Conventional Commercial Banks and Islamic Commercial Banks in Bangladesh

Global Disclosure of Economics and Business, Dec 31, 2016

Customer perception refers to the process by which a customer selects, organizes, and interprets ... more Customer perception refers to the process by which a customer selects, organizes, and interprets information inputs to create a meaningful picture of the service quality within an organization. In the fast growing banking industry like Bangladesh, every bank is looking forward towards faster growth through providing better service quality than others. However, there are certain challenges started rising in front of the booming banking sector which are needed to be addressed immediately; such as, managing compliance, mitigating fraud/ cyber security, managing hiring decisions etc. It is obvious that, those who will efficiently handle these challenges will certainly lead the market and gain higher customer contentment. The main purpose of this study is to compare the customer perception towards the service Quality offered by Conventional Commercial Banks and Islamic Shariah-based Commercial Banks in Bangladesh through using SERVQUAL instrument. 204 respondents have been randomly selected for the study among them 162 is from Conventional banks and 42 are from Islamic banks. The findings of the research should help the policy makers and regulators in banking industry to have a deep insight towards the different perception of customers and assist in taking effective measures to achieve organizational goal through improving their service Quality.

The Macro-Economic Relationship Among Money, Income and the Price Level in Bangladesh

Macroeconomics: Prices, 2016

This paper examines whether a significant long-term relationship exists between money, price leve... more This paper examines whether a significant long-term relationship exists between money, price level and GDP in the Bangladeshi economy. We have applied time-series econometric techniques to quarterly data for the Bangladesh economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and co-integration. Certain characteristics of the Bangladeshi experience suggest that there is a stable long term relationship. Radical changes in monetary policy have significantly affected the movement of the macro economy. We have found that a long-term relationship exists between money supply (M1), GDP and the CPI.

Gender Disparity in Bangladesh and Its Impact on Women in Workplaces

Women & Work eJournal, 2016

Gender biasness at the workplace is been a widely concerned matter in the whole world, specially ... more Gender biasness at the workplace is been a widely concerned matter in the whole world, specially in the developing and under developed countries for years. Women have to struggle in every stage of their work life more to survive than to comprise equal rights. They are not even recognized for their efficiency and work of talent compared to their male peers. This paper aims to study the impact of gender discrimination on the women workforce of Bangladesh. For this purpose, various research articles have been reviewed to portray the actual scenario regarding gender issues. An unstructured questionnaire has been used to gather general opinion from the female respondents from different sectors. The study is mainly qualitative in nature. The study shows that females are discriminated more rather than their male counterparts in their workplaces. It is common for women to have the behavioral discrimination at their workplace. They are also deprived of the basic facilities obligatory for bei...

Predicting the Financial Distress in the Banking Industry of Bangladesh: A Case Study on Private Commercial Banks

Financial distress is the technical term which is used to assess the insolvency as well as bankru... more Financial distress is the technical term which is used to assess the insolvency as well as bankruptcy of the financial organizations. Banking sector of Bangladesh play a vital role in the economic development of the country. The main purpose of this study is to assess the financial performance of the banking sector using various ratios. This study also attempts to forecast the bankruptcy or possibility of bankruptcy using Altman (1968) Z-score model. From the various studies it has been found that this model reveals the Altman Z-Score was found to be 72% accurate in predicting bankruptcy two years before the event. The accuracy of this models varies depends on the types of the industry analysis. There are 25 conventional and non-conventional commercial banks which have been randomly selected out of 56 banks for this study over the period of 2010 to 2014. There are various financial ratios like activity, profitability, solvency, leverage & market value ratio that have been used to me...

Customer Perception on Bank Service Quality: A Comparative Study between Conventional Commercial Banks and Islamic Commercial Banks in Bangladesh

Global Disclosure of Economics and Business

Customer perception refers to the process by which a customer selects, organizes, and interprets ... more Customer perception refers to the process by which a customer selects, organizes, and interprets information inputs to create a meaningful picture of the service quality within an organization. In the fast growing banking industry like Bangladesh, every bank is looking forward towards faster growth through providing better service quality than others. However, there are certain challenges started rising in front of the booming banking sector which are needed to be addressed immediately; such as, managing compliance, mitigating fraud/ cyber security, managing hiring decisions etc. It is obvious that, those who will efficiently handle these challenges will certainly lead the market and gain higher customer contentment. The main purpose of this study is to compare the customer perception towards the service Quality offered by Conventional Commercial Banks and Islamic Shariah-based Commercial Banks in Bangladesh through using SERVQUAL instrument. 204 respondents have been randomly selec...

DRIVERS BEHIND THE FINANCIAL INSOLVENCY: AN EMPIRICAL STUDY ON THE TEXTILE INDUSTRY IN BANGLADESH

The Economics and Finance Letters, 2020

The main purpose of the research study is to assess the financial soundness of the textile indust... more The main purpose of the research study is to assess the financial soundness of the textile industry in Bangladesh. The effects of financial ratios have also been examined. The research has been designed based on published quantitative data in the stock market. 35 listed companies that consist of A-Category, B-Category and Z-category companies were analyzed. In this research study, five financial ratios have been analyzed and tested using the Altman Z-score model. Statistical correlation among the financial ratio was examined to depict the picture of financial distress among the different categories of companies in Textile industries in Bangladesh. Most of the A category companies are in Safe Zone or financially sound, B category companies are into Grey Zone and Z category companies are in distress zone. The outcome of the study can be valuable for the financial managers to take important managerial as well as financial decisions, the shareholders to take appropriate investment decisions and bankers to evaluate the prospective borrowers' credit risk and renew loans of the concerned textile manufacturers of the country. Contribution/Originality: This study is one of the very few studies which have examined the direct relationship of financial ratios with Z-score values regarding different categories of listed textile companies in the stock exchange by using panel data analysis.

FACTORS AFFECTING THE CAPITAL STRUCTURE OF THE TEXTILE INDUSTRY IN BANGLADESH: AN INFERENTIAL STUDY

Financial Risk and Management Reviews, 2020

The main objective of the study is to recognize the major factors influencing the capital structu... more The main objective of the study is to recognize the major factors influencing the capital structure of the textile firms and to identify the association among them from the context of Bangladesh. The researchers reviewed different conditional theories of capital structure before identifying the determinants of the textile firms. For this purpose, panel data for A-category listed textile companies of the Dhaka Stock Exchange were selected. The study developed multiple regression models for the period 2008 to 2017. Key-independent variables include firm profitability, tangibility, growth, age, liquidity and Size. Leverage ratio was used as the dependent variable. The study explored that profitability; firm size and liquidity have significant positive relationship with the debt ratio, which is consistent with the Trade-off theory. On the other hand, tangibility, growth rate and age are not significantly related with the said ratio. The findings of this study will help financial managers to make the right decisions on fund borrowing and equity financing. Then they can use borrowing in a proper way to support the market value of their companies. Contribution/Originality: This study is one of the very few studies which have investigated the direct relationship of determinant factors with the debt maturity of the listed textile companies in the stock exchange by using panel data analysis.

An Inferential Study on the Profitability Determinants of the Cement Industry in Bangladesh

by Sonia Rezina, aysha ashraf, and Md Atiqullah Khan

Asian Finance & Banking Review, 2020

This paper examines the impacts of firm-specific and macroeconomic factors in determining the pro... more This paper examines the impacts of firm-specific and macroeconomic factors in determining the profitability of the cement industry in Bangladesh. This study took stock exchange listed all cement companies of Bangladesh as samples and covered the period of 2000-2018. Return on Assets (ROA) was chosen as the dependent variable and firm size, expense to revenue ratio, leverage, age, inflation rate, GDP growth rate, and real interest rate were chosen as independent variables where the first four are firm-specific and the other three are macroeconomic factors. This study considered ROA as the profitability measurement of the firms. The study found that leverage, GDP growth rate, and real interest rate have significant impacts on the profitability. Firm size, age, GDP growth rate, and real interest rate have a positive impact whereas expenses to revenue ratio, leverage, and inflation have a negative impact on the profitability of the firms under the cement industry.

Non-Performing Loan in Bangladesh: A Comparative Study on the Islamic Banks and Conventional Banks

by Sonia Rezina and Rubaiyat Shaimom Chowdhury

Indian Journal of Finance and Banking, 2020

The banking business is one of the booming businesses in Bangladesh. But at present, the sector i... more The banking business is one of the booming businesses in Bangladesh. But at present, the sector is struggling to be on the growth path due to the growing proportion of Non-Performing Loan (NPL). The NPL has instigated a negative influence on the growth of Banking Business. This study has compared the severity of the impact of operational modes between two mainstream banking systems, traditional banking and Islamic banking, which may affect Non-performing loans. Other variables such as governance of the banks, bureaucracy, and size of the banks, the difference in reserve ratio, capital adequacy ratio, and interest rates have different impacts on NPL. We have explained the impact of the variables on the bank performance as per mainstream banking operational model. Finally, we have proposed some evocative measures through which the Non-performing loan can be minimized.

Contribution of Stock Market Towards Economic Growth: An Empirical Study on Bangladesh Economy

European Scientific Journal, 2017

The economic growth of a country is influenced by many different factors. This study aims to inve... more The economic growth of a country is influenced by many different factors. This study aims to investigate the causal relationship between stock market development and economic growth in Bangladesh as well as the impact of stock market performance upon the economic growth of Bangladesh. The stock market performance has been measured by market capitalization ratio, number of listed companies, total value traded and turnover ratio; and the economic growth was represented by real gross domestic product. The periods taken for study were from year 1994 to year 2015.The effect of the stock market reform will also be addressed to explain the relationship. The study has been conducted using Augmented Dickey-Fuller Unit Root Test, Johansen Cointegration Test and the Granger Causality Test. The findings of the research should help the policy makers and regulators to look after their interest in the financial sector of the country.

Customer Perception on Bank Service Quality: A Comparative Study between Conventional Commercial Banks and Islamic Commercial Banks in Bangladesh

by Sonia Rezina and farhana mitu

Global Disclosure of Economics and Business, 2016

Customer perception refers to the process by which a customer selects, organizes, and interprets ... more Customer perception refers to the process by which a customer selects, organizes, and interprets information inputs to create a meaningful picture of the service quality within an organization. In the fast growing banking industry like Bangladesh, every bank is looking forward towards faster growth through providing better service quality than others. However, there are certain challenges started rising in front of the booming banking sector which are needed to be addressed immediately; such as, managing compliance, mitigating fraud/ cyber security, managing hiring decisions etc. It is obvious that, those who will efficiently handle these challenges will certainly lead the market and gain higher customer contentment. The main purpose of this study is to compare the customer perception towards the service Quality offered by Conventional Commercial Banks and Islamic Shariah-based Commercial Banks in Bangladesh through using SERVQUAL instrument. 204 respondents have been randomly selected for the study among them 162 is from Conventional banks and 42 are from Islamic banks. The findings of the research should help the policy makers and regulators in banking industry to have a deep insight towards the different perception of customers and assist in taking effective measures to achieve organizational goal through improving their service Quality.

The Macro-Economic Relationship among Money, Income and the Price Level in Bangladesh

British Journal of Business Design & Education, 2016

This paper examines whether a significant long-term relationship exists between money, price leve... more This paper examines whether a significant long-term relationship exists between money, price level and GDP in the Bangladeshi economy. We have applied time-series econometric techniques to quarterly data for the Bangladesh economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and co-integration. Certain characteristics of the Bangladeshi experience suggest that there is a stable long term relationship. Radical changes in monetary policy have significantly affected the movement of the macro economy. We have found that a long-term relationship exists between money supply (M1), GDP and the CPI.

Gender Disparity in Bangladesh and its impact on women in workplaces

Scholar Journal of Business and Social Science, 2016

Gender biasness at the workplace is been a widely concerned matter in the whole world, specially ... more Gender biasness at the workplace is been a widely concerned matter in the whole world, specially in the developing and under developed countries for years. Women have to struggle in every stage of their work life more to survive than to comprise equal rights. They are not even recognized for their efficiency and work of talent compared to their male peers. This paper aims to study the impact of gender discrimination on the women workforce of Bangladesh. For this purpose, various research articles have been reviewed to portray the actual scenario regarding gender issues. An unstructured questionnaire has been used to gather general opinion from the female respondents from different sectors. The study is mainly qualitative in nature. The study shows that females are discriminated more rather than their male counterparts in their workplaces. It is common for women to have the behavioral discrimination at their workplace. They are also deprived of the basic facilities obligatory for being a female to have a friendly work environment. The terrible matter of concern is that most of the female workers are even unaware of their general rights regarding their work and workplace.

Predicting the Financial Distress in the Banking Industry of Bangladesh: A Case Study on Private Commercial Banks

Australian Academy of Accounting and Finance Review, 2016

Financial distress is the technical term which is used to assess the insolvency as well as bankru... more Financial distress is the technical term which is used to assess the insolvency as well as bankruptcy of the financial organizations. Banking sector of Bangladesh play a vital role in the economic development of the country. The main purpose of this study is to assess the financial performance of the banking sector using various ratios. This study also attempts to forecast the bankruptcy or possibility of bankruptcy using Altman (1968) Z-score model. From the various studies it has been found that this model reveals the Altman Z-Score was found to be 72% accurate in predicting bankruptcy two years before the event. The accuracy of this models varies depends on the types of the industry analysis. There are 25 conventional and non-conventional commercial banks which have been randomly selected out of 56 banks for this study over the period of 2010 to 2014. There are various financial ratios like activity, profitability, solvency, leverage & market value ratio that have been used to measure the financial performance of the banks. To measure the financial distress various ratios and descriptive statistics have been used. This study reveals that among the selected commercial banks 24% in the safe zone, 20% in the distress zone and 56% in the grey zone. The greater degree of fluctuation occurred in EBIT to total asset ratio. The findings of the study help the managers, depositors, regulatory body & the shareholders to look after their interest in the banking sector of the country.

Two Years of Fighting the COVID-19 Pandemic: An Analysis of the Policy Plurality and Response Performance of Emerging Economies

International Journal of Asian Social Science

The COVID-19 pandemic has ruined the faster growth patterns of emerging economies. Emerging econo... more The COVID-19 pandemic has ruined the faster growth patterns of emerging economies. Emerging economies with their constrained of resource availability and resource allocation response to the epidemic differently based on the extent of damage and recovery required. While there is no ‘one size fits for all’ approach in policy responses, a combination of policy tools employed by rising nations may provide critical insights into their actual economic capabilities. In this paper, from January 2020 to December 2021, we examine and evaluate the policies adopted by emerging economies to combat the pandemic. IMF's Policy Tracker database is used to encode, analyze, and assess 25 selected emerging economies' policies at the global, regional, and income levels. Emerging economies use a wider portfolio of policy tools with better coverage, with budgetary biases. Findings could help understand the heterogeneity of policy responses across emerging economies during the pandemic’s economic d...

Non-Performing Loan in Bangladesh: A Comparative Study on the Islamic Banks and Conventional Banks

Indian Journal of Finance and Banking, 2020

The banking business is one of the booming businesses in Bangladesh. But at present, the sector i... more The banking business is one of the booming businesses in Bangladesh. But at present, the sector is struggling to be on the growth path due to the growing proportion of Non-Performing Loan (NPL). The NPL has instigated a negative influence on the growth of Banking Business. This study has compared the severity of the impact of operational modes between two mainstream banking systems, traditional banking and Islamic banking, which may affect Non-performing loans. Other variables such as governance of the banks, bureaucracy, and size of the banks, the difference in reserve ratio, capital adequacy ratio, and interest rates have different impacts on NPL. We have explained the impact of the variables on the bank performance as per mainstream banking operational model. Finally, we have proposed some evocative measures through which the Non-performing loan can be minimized.

Factors Affecting the Capital Structure of the Textile Industry in Bangladesh: An Inferential Study

Financial Risk and Management Reviews, 2020

The main objective of the study is to recognize the major factors influencing the capital structu... more The main objective of the study is to recognize the major factors influencing the capital structure of the textile firms and to identify the association among them from the context of Bangladesh. The researchers reviewed different conditional theories of capital structure before identifying the determinants of the textile firms. For this purpose, panel data for A-category listed textile companies of the Dhaka Stock Exchange were selected. The study developed multiple regression models for the period 2008 to 2017. Key -independent variables include firm profitability, tangibility, growth, age, liquidity and Size. Leverage ratio was used as the dependent variable. The study explored that profitability; firm size and liquidity have significant positive relationship with the debt ratio, which is consistent with the Trade-off theory. On the other hand, tangibility, growth rate and age are not significantly related with the said ratio. The findings of this study will help financial managers to make the right decisions on fund borrowing and equity financing. Then they can use borrowing in a proper way to support the market value of their companies. Contribution/Originality: This study is one of the very few studies which have investigated the direct relationship of determinant factors with the debt maturity of the listed textile companies in the stock exchange by using panel data analysis.

Drivers Behind the Financial Insolvency: An Empirical Study on the Textile Industry in Bangladesh

The Economics and Finance Letters, 2020

The main purpose of the research study is to assess the financial soundness of the textile indust... more The main purpose of the research study is to assess the financial soundness of the textile industry in Bangladesh. The effects of financial ratios have also been examined. The research has been designed based on published quantitative data in the stock market. 35 listed companies that consist of A-Category, B-Category and Z-category companies were analyzed. In this research study, five financial ratios have been analyzed and tested using the Altman Z-score model. Statistical correlation among the financial ratio was examined to depict the picture of financial distress among the different categories of companies in Textile industries in Bangladesh. Most of the A category companies are in Safe Zone or financially sound, B category companies are into Grey Zone and Z category companies are in distress zone. The outcome of the study can be valuable for the financial managers to take important managerial as well as financial decisions, the shareholders to take appropriate investment decisions and bankers to evaluate the prospective borrowers' credit risk and renew loans of the concerned textile manufacturers of the country. This study is one of the very few studies which have examined the direct relationship of financial ratios with Z-score values regarding different categories of listed textile companies in the stock exchange by using panel data analysis.

Contribution of StockMarket Towards Economic Growth: An Empirical Study on Bangladesh Economy

European Scientific Journal, 2017

The economic growth of a country is influenced by many different factors. This study aims to inve... more The economic growth of a country is influenced by many different factors. This study aims to investigate the causal relationship between stock market development and economic growth in Bangladesh as well as the impact of stock market performance upon the economic growth of Bangladesh. The stock market performance has been measured by market capitalization ratio, number of listed companies, total value traded and turnover ratio; and the economic growth was represented by real gross domestic product. The periods taken for study were from year 1994 to year 2015.The effect of the stock market reform will also be addressed to explain the relationship. The study has been conducted using Augmented Dickey- Fuller Unit Root Test, Johansen Cointegration Test and the Granger Causality Test. The findings of the research should help the policy makers and regulators to look after their interest in the financial sector of the country.

An Inferential Study on the Profitability Determinants of the Cement Industry in Bangladesh

Asian Finance & Banking Review, 2020

This paper examines the impacts of firm-specific and macroeconomic factors in determining the pro... more This paper examines the impacts of firm-specific and macroeconomic factors in determining the profitability of the cement industry in Bangladesh. This study took stock exchange listed all cement companies of Bangladesh as samples and covered the period of 2000–2018. Return on Assets (ROA) was chosen as the dependent variable and firm size, expense to revenue ratio, leverage, age, inflation rate, GDP growth rate, and real interest rate were chosen as independent variables where the first four are firm-specific and the other three are macroeconomic factors. This study considered ROA as the profitability measurement of the firms. The study found that leverage, GDP growth rate, and real interest rate have significant impacts on the profitability. Firm size, age, GDP growth rate, and real interest rate have a positive impact whereas expenses to revenue ratio, leverage, and inflation have a negative impact on the profitability of the firms under the cement industry.

Customer Perception on Bank Service Quality: A Comparative Study between Conventional Commercial Banks and Islamic Commercial Banks in Bangladesh

Global Disclosure of Economics and Business, Dec 31, 2016

Customer perception refers to the process by which a customer selects, organizes, and interprets ... more Customer perception refers to the process by which a customer selects, organizes, and interprets information inputs to create a meaningful picture of the service quality within an organization. In the fast growing banking industry like Bangladesh, every bank is looking forward towards faster growth through providing better service quality than others. However, there are certain challenges started rising in front of the booming banking sector which are needed to be addressed immediately; such as, managing compliance, mitigating fraud/ cyber security, managing hiring decisions etc. It is obvious that, those who will efficiently handle these challenges will certainly lead the market and gain higher customer contentment. The main purpose of this study is to compare the customer perception towards the service Quality offered by Conventional Commercial Banks and Islamic Shariah-based Commercial Banks in Bangladesh through using SERVQUAL instrument. 204 respondents have been randomly selected for the study among them 162 is from Conventional banks and 42 are from Islamic banks. The findings of the research should help the policy makers and regulators in banking industry to have a deep insight towards the different perception of customers and assist in taking effective measures to achieve organizational goal through improving their service Quality.

The Macro-Economic Relationship Among Money, Income and the Price Level in Bangladesh

Macroeconomics: Prices, 2016

This paper examines whether a significant long-term relationship exists between money, price leve... more This paper examines whether a significant long-term relationship exists between money, price level and GDP in the Bangladeshi economy. We have applied time-series econometric techniques to quarterly data for the Bangladesh economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and co-integration. Certain characteristics of the Bangladeshi experience suggest that there is a stable long term relationship. Radical changes in monetary policy have significantly affected the movement of the macro economy. We have found that a long-term relationship exists between money supply (M1), GDP and the CPI.

Gender Disparity in Bangladesh and Its Impact on Women in Workplaces

Women & Work eJournal, 2016

Gender biasness at the workplace is been a widely concerned matter in the whole world, specially ... more Gender biasness at the workplace is been a widely concerned matter in the whole world, specially in the developing and under developed countries for years. Women have to struggle in every stage of their work life more to survive than to comprise equal rights. They are not even recognized for their efficiency and work of talent compared to their male peers. This paper aims to study the impact of gender discrimination on the women workforce of Bangladesh. For this purpose, various research articles have been reviewed to portray the actual scenario regarding gender issues. An unstructured questionnaire has been used to gather general opinion from the female respondents from different sectors. The study is mainly qualitative in nature. The study shows that females are discriminated more rather than their male counterparts in their workplaces. It is common for women to have the behavioral discrimination at their workplace. They are also deprived of the basic facilities obligatory for bei...

Predicting the Financial Distress in the Banking Industry of Bangladesh: A Case Study on Private Commercial Banks

Financial distress is the technical term which is used to assess the insolvency as well as bankru... more Financial distress is the technical term which is used to assess the insolvency as well as bankruptcy of the financial organizations. Banking sector of Bangladesh play a vital role in the economic development of the country. The main purpose of this study is to assess the financial performance of the banking sector using various ratios. This study also attempts to forecast the bankruptcy or possibility of bankruptcy using Altman (1968) Z-score model. From the various studies it has been found that this model reveals the Altman Z-Score was found to be 72% accurate in predicting bankruptcy two years before the event. The accuracy of this models varies depends on the types of the industry analysis. There are 25 conventional and non-conventional commercial banks which have been randomly selected out of 56 banks for this study over the period of 2010 to 2014. There are various financial ratios like activity, profitability, solvency, leverage & market value ratio that have been used to me...

Customer Perception on Bank Service Quality: A Comparative Study between Conventional Commercial Banks and Islamic Commercial Banks in Bangladesh

Global Disclosure of Economics and Business

Customer perception refers to the process by which a customer selects, organizes, and interprets ... more Customer perception refers to the process by which a customer selects, organizes, and interprets information inputs to create a meaningful picture of the service quality within an organization. In the fast growing banking industry like Bangladesh, every bank is looking forward towards faster growth through providing better service quality than others. However, there are certain challenges started rising in front of the booming banking sector which are needed to be addressed immediately; such as, managing compliance, mitigating fraud/ cyber security, managing hiring decisions etc. It is obvious that, those who will efficiently handle these challenges will certainly lead the market and gain higher customer contentment. The main purpose of this study is to compare the customer perception towards the service Quality offered by Conventional Commercial Banks and Islamic Shariah-based Commercial Banks in Bangladesh through using SERVQUAL instrument. 204 respondents have been randomly selec...

DRIVERS BEHIND THE FINANCIAL INSOLVENCY: AN EMPIRICAL STUDY ON THE TEXTILE INDUSTRY IN BANGLADESH

The Economics and Finance Letters, 2020

The main purpose of the research study is to assess the financial soundness of the textile indust... more The main purpose of the research study is to assess the financial soundness of the textile industry in Bangladesh. The effects of financial ratios have also been examined. The research has been designed based on published quantitative data in the stock market. 35 listed companies that consist of A-Category, B-Category and Z-category companies were analyzed. In this research study, five financial ratios have been analyzed and tested using the Altman Z-score model. Statistical correlation among the financial ratio was examined to depict the picture of financial distress among the different categories of companies in Textile industries in Bangladesh. Most of the A category companies are in Safe Zone or financially sound, B category companies are into Grey Zone and Z category companies are in distress zone. The outcome of the study can be valuable for the financial managers to take important managerial as well as financial decisions, the shareholders to take appropriate investment decisions and bankers to evaluate the prospective borrowers' credit risk and renew loans of the concerned textile manufacturers of the country. Contribution/Originality: This study is one of the very few studies which have examined the direct relationship of financial ratios with Z-score values regarding different categories of listed textile companies in the stock exchange by using panel data analysis.

FACTORS AFFECTING THE CAPITAL STRUCTURE OF THE TEXTILE INDUSTRY IN BANGLADESH: AN INFERENTIAL STUDY

Financial Risk and Management Reviews, 2020

The main objective of the study is to recognize the major factors influencing the capital structu... more The main objective of the study is to recognize the major factors influencing the capital structure of the textile firms and to identify the association among them from the context of Bangladesh. The researchers reviewed different conditional theories of capital structure before identifying the determinants of the textile firms. For this purpose, panel data for A-category listed textile companies of the Dhaka Stock Exchange were selected. The study developed multiple regression models for the period 2008 to 2017. Key-independent variables include firm profitability, tangibility, growth, age, liquidity and Size. Leverage ratio was used as the dependent variable. The study explored that profitability; firm size and liquidity have significant positive relationship with the debt ratio, which is consistent with the Trade-off theory. On the other hand, tangibility, growth rate and age are not significantly related with the said ratio. The findings of this study will help financial managers to make the right decisions on fund borrowing and equity financing. Then they can use borrowing in a proper way to support the market value of their companies. Contribution/Originality: This study is one of the very few studies which have investigated the direct relationship of determinant factors with the debt maturity of the listed textile companies in the stock exchange by using panel data analysis.

An Inferential Study on the Profitability Determinants of the Cement Industry in Bangladesh

by Sonia Rezina, aysha ashraf, and Md Atiqullah Khan

Asian Finance & Banking Review, 2020

This paper examines the impacts of firm-specific and macroeconomic factors in determining the pro... more This paper examines the impacts of firm-specific and macroeconomic factors in determining the profitability of the cement industry in Bangladesh. This study took stock exchange listed all cement companies of Bangladesh as samples and covered the period of 2000-2018. Return on Assets (ROA) was chosen as the dependent variable and firm size, expense to revenue ratio, leverage, age, inflation rate, GDP growth rate, and real interest rate were chosen as independent variables where the first four are firm-specific and the other three are macroeconomic factors. This study considered ROA as the profitability measurement of the firms. The study found that leverage, GDP growth rate, and real interest rate have significant impacts on the profitability. Firm size, age, GDP growth rate, and real interest rate have a positive impact whereas expenses to revenue ratio, leverage, and inflation have a negative impact on the profitability of the firms under the cement industry.

Non-Performing Loan in Bangladesh: A Comparative Study on the Islamic Banks and Conventional Banks

by Sonia Rezina and Rubaiyat Shaimom Chowdhury

Indian Journal of Finance and Banking, 2020

The banking business is one of the booming businesses in Bangladesh. But at present, the sector i... more The banking business is one of the booming businesses in Bangladesh. But at present, the sector is struggling to be on the growth path due to the growing proportion of Non-Performing Loan (NPL). The NPL has instigated a negative influence on the growth of Banking Business. This study has compared the severity of the impact of operational modes between two mainstream banking systems, traditional banking and Islamic banking, which may affect Non-performing loans. Other variables such as governance of the banks, bureaucracy, and size of the banks, the difference in reserve ratio, capital adequacy ratio, and interest rates have different impacts on NPL. We have explained the impact of the variables on the bank performance as per mainstream banking operational model. Finally, we have proposed some evocative measures through which the Non-performing loan can be minimized.

Contribution of Stock Market Towards Economic Growth: An Empirical Study on Bangladesh Economy

European Scientific Journal, 2017

The economic growth of a country is influenced by many different factors. This study aims to inve... more The economic growth of a country is influenced by many different factors. This study aims to investigate the causal relationship between stock market development and economic growth in Bangladesh as well as the impact of stock market performance upon the economic growth of Bangladesh. The stock market performance has been measured by market capitalization ratio, number of listed companies, total value traded and turnover ratio; and the economic growth was represented by real gross domestic product. The periods taken for study were from year 1994 to year 2015.The effect of the stock market reform will also be addressed to explain the relationship. The study has been conducted using Augmented Dickey-Fuller Unit Root Test, Johansen Cointegration Test and the Granger Causality Test. The findings of the research should help the policy makers and regulators to look after their interest in the financial sector of the country.

Customer Perception on Bank Service Quality: A Comparative Study between Conventional Commercial Banks and Islamic Commercial Banks in Bangladesh

by Sonia Rezina and farhana mitu

Global Disclosure of Economics and Business, 2016

Customer perception refers to the process by which a customer selects, organizes, and interprets ... more Customer perception refers to the process by which a customer selects, organizes, and interprets information inputs to create a meaningful picture of the service quality within an organization. In the fast growing banking industry like Bangladesh, every bank is looking forward towards faster growth through providing better service quality than others. However, there are certain challenges started rising in front of the booming banking sector which are needed to be addressed immediately; such as, managing compliance, mitigating fraud/ cyber security, managing hiring decisions etc. It is obvious that, those who will efficiently handle these challenges will certainly lead the market and gain higher customer contentment. The main purpose of this study is to compare the customer perception towards the service Quality offered by Conventional Commercial Banks and Islamic Shariah-based Commercial Banks in Bangladesh through using SERVQUAL instrument. 204 respondents have been randomly selected for the study among them 162 is from Conventional banks and 42 are from Islamic banks. The findings of the research should help the policy makers and regulators in banking industry to have a deep insight towards the different perception of customers and assist in taking effective measures to achieve organizational goal through improving their service Quality.

The Macro-Economic Relationship among Money, Income and the Price Level in Bangladesh

British Journal of Business Design & Education, 2016

This paper examines whether a significant long-term relationship exists between money, price leve... more This paper examines whether a significant long-term relationship exists between money, price level and GDP in the Bangladeshi economy. We have applied time-series econometric techniques to quarterly data for the Bangladesh economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and co-integration. Certain characteristics of the Bangladeshi experience suggest that there is a stable long term relationship. Radical changes in monetary policy have significantly affected the movement of the macro economy. We have found that a long-term relationship exists between money supply (M1), GDP and the CPI.

Gender Disparity in Bangladesh and its impact on women in workplaces

Scholar Journal of Business and Social Science, 2016

Gender biasness at the workplace is been a widely concerned matter in the whole world, specially ... more Gender biasness at the workplace is been a widely concerned matter in the whole world, specially in the developing and under developed countries for years. Women have to struggle in every stage of their work life more to survive than to comprise equal rights. They are not even recognized for their efficiency and work of talent compared to their male peers. This paper aims to study the impact of gender discrimination on the women workforce of Bangladesh. For this purpose, various research articles have been reviewed to portray the actual scenario regarding gender issues. An unstructured questionnaire has been used to gather general opinion from the female respondents from different sectors. The study is mainly qualitative in nature. The study shows that females are discriminated more rather than their male counterparts in their workplaces. It is common for women to have the behavioral discrimination at their workplace. They are also deprived of the basic facilities obligatory for being a female to have a friendly work environment. The terrible matter of concern is that most of the female workers are even unaware of their general rights regarding their work and workplace.

Predicting the Financial Distress in the Banking Industry of Bangladesh: A Case Study on Private Commercial Banks

Australian Academy of Accounting and Finance Review, 2016

Financial distress is the technical term which is used to assess the insolvency as well as bankru... more Financial distress is the technical term which is used to assess the insolvency as well as bankruptcy of the financial organizations. Banking sector of Bangladesh play a vital role in the economic development of the country. The main purpose of this study is to assess the financial performance of the banking sector using various ratios. This study also attempts to forecast the bankruptcy or possibility of bankruptcy using Altman (1968) Z-score model. From the various studies it has been found that this model reveals the Altman Z-Score was found to be 72% accurate in predicting bankruptcy two years before the event. The accuracy of this models varies depends on the types of the industry analysis. There are 25 conventional and non-conventional commercial banks which have been randomly selected out of 56 banks for this study over the period of 2010 to 2014. There are various financial ratios like activity, profitability, solvency, leverage & market value ratio that have been used to measure the financial performance of the banks. To measure the financial distress various ratios and descriptive statistics have been used. This study reveals that among the selected commercial banks 24% in the safe zone, 20% in the distress zone and 56% in the grey zone. The greater degree of fluctuation occurred in EBIT to total asset ratio. The findings of the study help the managers, depositors, regulatory body & the shareholders to look after their interest in the banking sector of the country.