Liquidity

This paper investigates the impact of bank-specific, industry-specific, and macroeconomic variables on bank profitability before, during, and after the financial crisis of 2008. For this purpose, 73 UK commercial banks are selected on the basis of availability of required information. The empirical data for these banks are collected for the period from 2006 to 2012 from Bankscope and Data-stream databases. The regression and correlation analyses are performed on the data and concluded that bank size, capital ratio, loan, deposits, liquidity, and interest rate have positive impact on ROA and ROE while GDP and inflation rate have negative impact. The findings of this study can help UK banks, government, investors, policymakers, and shareholders for decision making and improving the performance of financial institutions in the future.

The financial performance of the textile industry in Tamil Nadu had been analyzed with the help of the financial ratios. The financial structure of a company can show its capacity to generate the funds needed to undertake the desired expansion. The financial performance assessment together with other efficiency criteria, will give an idea of the total efficiency and industry performance. The success of the company ultimately depends upon its future growth and development. The company " s future can never be predicted with accuracy without having precise information related to its present financial position and its past earnings. In addition, the present study analyzed the impact of the performance of liquidity, solvency and efficiency on the profitability of the textile industry using CMIE data. The study found the impact of financial ratios, such as return on capital employed and net profit ratio, on the profitability of textile industry in Tamil Nadu, was meticulously studied. From the Generalized Least Square method it was found that absolute liquidity ratio had the highest impact among the financial ratios on the return on net profit ratio as well as creditors " turnover ratio is highest impact on return on capital employed during the study period with statistical significance.It presents a detailed analysis of the determinants of financial performance of textile industry in Tamil Nadu using financial ratios. The financial structure of a company can show its capacity to generate the funds needed to undertake the desired expansion. The financial performance assessment together with other efficiency criteria, will give an idea of the total efficiency and industry performance. The success of the company ultimately depends upon its future growth and development. The company " s future can never be predicted with accuracy without having precise information related to its present financial position and its past earnings. Ratio Analysis is an age-old technique of financial analysis. The financial position of the textile industry in Tamil Nadu is analyzed with the help of the financial facts and ratios such as: liquidity, solvency, efficiency and profitability. In addition, the present study analyzed the impact of the performance of liquidity, solvency and efficiency on the profitability of the textile industry. Liquidity and profitability are the two desired goals of financial management and they are directly affected by the working capital management. With increase in working capital size beyond the adequacy level, liquidity improves and profitability declines, and vice versa. Ratio Analysis: This is an age-old technique of financial analysis. It provides the financial statements in an absolute, historical and static form. It is also designed to show

The objective of this research is to determine the impact of profitability, growth opportunities, risk, liquidity, firm size, leverage, taxation and audit type on dividend payout in order to increase understanding of the determinants of dividend payout within Pakistani corporate environment. To meet the objective of this research, five year financial data from 2009-2014 of listed pharmaceutical companies is used and analyzed to determine the impact of selected variables on dividend payout. Correlation analysis and backward multiple linear regression is applied on the data to determine the association between variables and the impact of selected independent variables on dividend payout. Findings reveal that audit type, liquidity, growth opportunities & profitability are the key determinants of dividend payout of pharmaceutical companies of PSX. 31.90% variation in dividend payout is caused by these variables. Other independent variables including taxation, risk, firm size and leverage insignificantly influence dividend payout decisions of pharmaceutical companies of PSX.

The general objective of this study was to establish the effects of hedging foreign exchange risk on financial performance of non-banking companies listed at the Nairobi securities exchange. A descriptive research design was adopted on the target population of 49 non-banking firms listed at the NSE. Primary data collected using a questionnaire was used containing both open and close ended questions. Data was analyzed using SPSS to generate descriptive statistics such as percentages, frequency distribution, measures of central tendencies (mean) and the data was presented in tables. The study conducted multiple regression analysis to establish the extent to which the hedging techniques affected firm's performance. The results showed that, taking all factors into account (internal hedging techniques, external hedging technique, inflation and interest rates) performance of non-financial firms would be 0.564. The findings presented further indicated that internal hedging had the greatest effect on the firm performance (β = 0.551), Inflation (β = 0.322), External hedging (β = 0.133 while interest rate (β = 0.024) had the least effect to the firms performance. However, all the variables were significant (p<0.05). Hedging techniques affected firm's performance i.e. profitability, sales revenue and the cash flow and liquidity position of the firm. The internal techniques were more effective on the performance than the external techniques. The four independent variables studied accounted for 75.5% of the variations in non-banking firms' performance as represented by the adjusted R 2. This therefore means the four variables contribute to 75.5% of performance, while other factors not studied in this research contributes 24.5%. The study recommends that, firms develop a robust foreign exchange risk management framework which clearly shows its currency risk assessment procedure and implementation of

This study appraised effect of liquidity on financial performance of deposit money banks in Nigeria.  A sample of five (5) banks was used for the study. Secondary data were collected from the firms for ten years period, 2007 - 2016. The data were analyzed using multiple regression analysis. Results show that Liquidity has positive and significant effect on banks’ profitability ratios and that liquidity also has positive and significant effect on Return on  Capital  Employed.  The  study  recommends  that  there  is  need  to  replace  being  practiced  in  the  advance economies of the world. Investing on human capital  may be beyond just employees but also frequently creating an  interactive  forum  where  bank  clients  could  be  sensitize  on  a  variety  of  activities  they  indulge  in  that  are capable of hindering effective liquidity management, need to invest on human capital by banks as it offers the highest returns in terms of increasing performance and it also enhances the level of competence of the employee and  that  the  regulatory  authorities  should  put  in  place  appropriate  policy  with  compliance  measures  to check high volume cash transaction and cash hoarding prevalent in the economy. The Central Bank of Nigeria must critically  review  and  follow-up  or  monitor  the  effectiveness  of  liquidity  policy  tools  in  banks  and  where necessary, appropriate sanctions placed on erring banks to ensure effective implementation of these policy tools in an attempt to achieve desired liquidity level.

The article radically challenges the conventional view of modern banking as financial intermediation and rejects the mutually-related notion, firmly entrenched in both the mainstream and alternative imaginary, of fractional reserve banking. By contrast, it argues that modern banks are peculiar financiers which, far from banking other people's money, are originally and primarily involved with making money by creating a most fundamental institution of capitalism: liquidity. Crucially, central to the bank-engendered creation of liquidity is a negotiation of value that does not involve any formal lending of cash by a creditor - in fact, it does not require a creditor at all. Instead, it relies on a quid pro quo of debts performed by means of discounting whereby a regime of fluid property relations of mutual indebtedness, commonly known as debt finance, is established. In this regime of liquidity money is constructed as entirely a debtors' money: it is the outcome of a process of monetisation of bank debts entangled with a capitalisation of other people's debts.

This study aims to examine the effect of profitability as measured by return on equity, liquidity as measured by current ratio, leverage as measured by debt to equity ratio, firm size as measured by log from total assets and profit growth to earnings quality by the discretionary accruals of manufacturing companies listed on the Indonesia Stock Exchange (IDX). This study purposively select 74 sample of companies listed in the Indonesia Stock Exchange (IDX) in 2017 to 2018. The data used in this study is secondary data obtained from www.idx.co.id and then analyze in multiple regression analysis. Based on the results of analysis with the significance level of 5% this research conclude is: profitability and firm size do not influence to the earnings quality, while the liquidity and leverage have a negative influence. On the other hand profit growth have a positive influence to the earnings quality. PENDAHULUAN Perkembangan dunia bisnis dengan tingkat persaingannya yang tinggi, membuat manajemen perusahaan harus memiliki strategi yang mumpuni demi keberlangsungan hidupnya. Termasuk didalamnya mencari dana dari pihak eksternal dengan menawarkan saham atau surat utang kepada para investor. Namun, diperlukan kepercayaan dari para investor kepada perusahaan agar mereka bisa menanamkan modal yang dimiliki. Laporan keuangan merupakan salah satu sumber informasi keuangan yang diberikan oleh perusahaan kepada publik terutama para investor dan kreditur (Wulansari, 2009). Bagian yang mendapat perhatian lebih dari laporan keuangan adalah informasi laba yang merupakan indikator dari kinerja perusahaan. Oleh karena itu kualitas laba menjadi hal yang penting bagi mereka yang memanfaatkan informasi akuntansi sebagai dasar dalam pengambilan keputusan (Ginting, 2017). Kualitas laba adalah laba yang mencerminkan kinerja keuangan perusahaan yang sesungguhnya. Para investor, calon investor, para analis keuangan dan pengguna informasi keuangan lainnya harus mengetahui betul bagaimana kualitas laba yang sebenarnya (Irawati, 2012).

In this paper, we determine whether intraday price dynamics observed on Euronext help characterize market liquidity in real time. We generate 15-minute price movement configurations based on High-Low-Open-Close (HLOC) patterns and measure liquidity in terms of spread, depth, order imbalance, dispersion and slope. We also consider trading activity and volatility measures. Based on an event study methodology, we find that particular HLOC configurations are associated with higher liquidity in the limit order book. Although these effects are short-lived, market participants could benefit from temporary higher liquidity by executing their trades when these price configurations occur.

The main purpose of this study is to examine the impact of liquidity on firm’s profitability. All the listed banks of DSE are selected for this purpose.
Here we have find out the effect of independent variable (Temporary Investment Ratio) and control variable (Firm Size) over the dependent variables (ROA). For this study we have used panel data which includes 30 banks’ 5 year analysis. Trends of the ratios and element were examined. A model have been used to make the regression analysis. Here, secondary data have been used which were collected from the annual reports and calculated for 5 year period (2012-2016).
We have found that there is a significant positive association between the performance of firms’ profitability and the liquidity of the sampled firms in Bangladesh. That means liquidity is relevant to profitability.

For a successful working of a business organization fixed and current assets play a vital role as organization generally invests in these options. An attempt has been made in this paper to study the working capital components and the effect of working capital management policies on profitability of 10 Infrastructure companies. The paper also tries to study the correlation between liquidity, profitability and Profit before Tax (PBT) of selected Infrastructure companies. The study is based on secondary data collected from annual reports of different Infrastructure companies and PROWESS (CMIE Database) for the period 2007 to 2012. In this paper there is an application of correlation and regression analysis to identify the significant effects of Working capital management on the profitability. The Management of operating capital is indispensable as it might induce a direct impact on profitability and liquidity.

Öz
Özgürlük insanlık tarihinin en önemli problemlerinden birisidir. Pek çok farklı ta-nımlara sahiptir. Özgürlük genellikle bazı kavramlar veya kavram setleri ile birlikte tar-tışılır. Bunlar güvenlik, kesinlik, standartlar, belirsizlik gibi kavramlardır. Bu çalışma-da özgürlük, belirsizlik kavramı ile birlikte ele alınmıştır. Modernitenin özgürlük için düzen kurma ve belirsizliği ortadan kaldırma çabası, özgürlüklerin önünü kapatan bir sürece yönelmesine neden olmuştur. Bu bağlamda modernite eleştirileri gündeme gelmiş ve Postmodernizm modernliğin kökten bir eleştirisi olarak karşımıza çıkmıştır. Postmo-dernlik belirsizliği, özgürlüğün bir imkânı olarak değerlendirmiştir. Postmodern düşün-cenin önemli isimlerinden birisi olan Bauman, modernlik ve postmodernlik arasında bir konumlanma ile özgürlük ile belirsizlik ilişkisini daha sağlıklı bir zeminde tartışmıştır. Bauman'ın postmodernliği akışkan modernlik olarak tanımlaması, bu metinde yer alan özgürlük ile belirsizlik arasındaki ilişkide akışkan standartlar kavramına ilham vermiş ve modernliğin baskıcı karakterdeki standartlar takıntısını ve postmodernliğin standartsız-lığı öne sürmesinin getirdiği sorunlarını aşmanın bir imkânını vermiştir.

This chapter highlights similarities and differences of equity and fixed-income markets and provides an overview of the characteristics of European government bond market trading and liquidity. Most existing studies focus on the U.S. market. This chapter presents the institutional details of the MTS market, which is the largest European electronic platform for trading government, quasi-government, asset-backed, and corporate fixed-income securities. It reviews the main features of high-frequency fixed-income data and the methods for measuring market liquidity. Finally, the chapter shows how liquidity differs across European countries, how liquidity varies with the structure of the market, and how liquidity has changed during the recent liquidity and sovereign crises.

This study investigates the liquidity position of AB Bank Ltd. and Southeast Bank Ltd. of Bangladesh’s commercial banking sector for the period of 2011-2015. Financial ratios are employed to measure the profitability, liquidity and credit quality performance of these two bank. The study is mainly focused on the liquidity positions of this two banks. The study found that Southeast banks performance regarding asset and liability based liquidity indicators are in a flat line with significant ups and downs where AB banks performance is more vulnerable. A significant change in trend of short term deposit ratio of Southeast bank is observed in 2014 due to offering low interest rate. The overall liquidity position of southeast bank is satisfactory where in AB bank is lack behind because of their conservative approach of banking.

The paper analyzes liquidity risk and contagion in interbank markets. The
aim of the research is to define the different structures of interbank
markets and structures that allow the better allocation of liquidity and
thus avoid the spread of crisis in the whole system. For this purpose, this
paper examines Allen and Gale model. This model is the pioneer model
in the management of liquidity risk in the interbank market. We will then
analyze the mechanisms that explain the spread of liquidity risk in the
banking system both at national and international level.

The main purpose of this study is to determine, forecast and evaluate the best of economic conditions and company's performance in the future. The other purpose of this study is to analyze the financial statement and than give information for financial managers to make through decisions about their business. The financial statement applies tools, analytical techniques and required methods for business analysis. It is a diagnostic tool for evaluating financing activities, investment activities and operational activities as well as an assessment tool for management decisions and other business decisions. The analysis of financial statements, respectively the analysis of the financial reports are used by managers, shareholders, investors and all other interested parties regarding the company's state. Managers use financial reports to see the situation in which the company stands and then provide information to shareholders, to see how reasonable are the investments made in the company. To potential investors, the analysis of the financial statements of the company is very important, because, first they want to know the actual state of the company and then decide whether to invest or not.