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The IUP Journal of Accounting Research and Audit Practices

January'12
Focus

Environmental issues have adversely affected most of the business transactions and promoted companies to recognize ecological and social sustainability practices as part of their broader goals.

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Models of Corporate Social Reporting: Scope for Improvisation
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Impact of Financial Leverage on the Payoffs to Stockholders and Market Value
50
Predicting Financial Distress and Evaluating Long-Term Solvency: An Empirical Study
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Models of Corporate Social Reporting: Scope for Improvisation

-- Sanchita Choudhury and Nikhil Bhusan Dey

This paper examines the effect of financial leverage on the shareholders’ return and market value of 50 Indian companies listed on NSE and BSE—10 each (five high leverage and five low leverage) from auto, cement, FMCG, oil and gas and pharmaceutical industries of India. Shareholders’ return has been calculated through earnings per share and return on equity ratio, while market value is measured through dividend payout and price-earning ratio. Linear regressions are used to quantify the effect of financial leverage on shareholders’ return and market value.

© 2011 IUP. All Rights Reserved.
Article Price : Rs.50

Impact of Financial Leverage on the Payoffs to Stockholders and Market Value

-- Pushpa Negi, Shilpa Sankpal, Garima Mathur and Nishchaya Vaswani

There are many applied approaches to corporate social reporting. They range from simple ‘narrative disclosures’ which provide nonfinancial qualitative information about social responsibilities discharged by the concerned company to ‘financial disclosures’ which provide financial or quantitative information about the same. This paper examines the existing models of corporate social reporting and aims to develop a suitable model for Indian companies.

© 2011 IUP. All Rights Reserved.
Article Price : Rs.50

Predicting Financial Distress and Evaluating Long-Term Solvency: An Empirical Study

-- S C Bardia

This empirical study on two leading steel manufacturing companies of India, Steel Authority of India Limited (SAIL), a public sector undertaking, and Tata Steel Limited, the largest private sector company, aims at predicting bankruptcy or financial distress, using Altman’s Z-Score model which is based on several financial ratios. This research paper also investigates the long-term solvency position of the sample companies, by the use of a common technique of common-size analysis along with six solvency ratios in conjunction with the statistical technique of hypothesis testing. The Student’s t-test is carried out to examine the significance of difference in the various mean solvency ratios of SAIL and Tata Steel. The paper finally offers some relevant suggestions for improving the solvency position of the selected companies and also to be stay away from bankruptcy or financial distress.

© 2011 IUP. All Rights Reserved.
Article Price : Rs.50

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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