Financial Re-engineering Research Articles

Re-Engineering Financial Resources through Development Finance in Africa: A Review of the Literature

Most studies erroneously conclude that financial engineering occurs only within the purview of private institutions. This study defies this claim and affirms an equal public prerogative. It proceeds to innovate a financial re-engineering (F-Re) axiom expressed by the foundational, fundamental, and finance pillars (FFFps). This is encapsulated in a quadrant (Q), with which it is believed Africa’s accelerated development can be harnessed. Exploratorily, in addition to the visual and matching path analyses, this study provides a clear path in Q1–4, showing how Africa should re-engineer citizens’ priorities using deliberate development finance principal strategies going forward.

Financial Re-Engineering and Financial Performance of Poultry Business in Nigeria

The poultry industry as the largest employer of labour in the organised private sector and contributes 25% to Nigeria GDP. Previous studies had not adequately been able to integrate the process of capturing performance of poultry business using the balanced scorecard performance pillars. Thus, this study examined the impact of financial re-engineering on corporate performance and the sub-variables of the poultry business in Nigeria. The study used survey research. 4,324 active farmers and major stakeholders in the poultry industry from Nigeria's six geopolitical zones made up the study's population. The Taro Yamane sample size formula was used to determine the sample size of 450 with a response rate of 84%. The range of the constructs' Cronbach's alpha reliability coefficients was 0.87 to 0.95. The data were analyzed using descriptive and inferential (multiple regression) analysis with a 5% level of significance. The findings revealed that all financial re-engineering proxies had a significant effect on financial performance (Adj. R2= 0.535, F(5,379) = 87.901, p < 0.05).The study concluded that the study concluded that financial re-engineering has significant effect on financial performance of the poultry business while the lag in the adoption of modern technology including the usage of artificial intelligence and robotics reflected in sub-optimal performance which need be focused for effective asset utilisation. The study recommended the introduction of standards that will aid the starting point of using financial results to drive the business and make credit availability easier in support of various government and non-governmental aids and grants.

Financial Re-Engineering Impact on Organisational Capacity of Poultry Business in Nigeria

The Nigerian poultry industry, with a net worth value of 1.875trillion naira, comprises approximately 180 million birds and produces 454 million tons of meat and 21 billion eggs per year. Yet, local production only meets 30% of the demand for chicken eggs and meat, thus exposing the investment potentials and performance associated challenges at boosting the poultry industry that has emerged as the most dynamic, developed, commercialized and fastest growing livestock sub-sector in the country. Thus, this study examined the impact of financial re-engineering on organisational capacity of the poultry business in Nigeria. The study adopted survey research design. The population of the study were 4,324 active farmers and support services of the key poultry business stakeholders in the six geo-political zones of Nigeria. The sample size of 450 was determined using Taro Yamane sample size formular. Strata random sampling technique were used to select the respondents from the geo-political zones. A structured and valid questionnaire were administered to the respondents with a response rate of 84%. The Cronbach’s alpha reliability coefficients for the constructs ranged from 0.87 to 0.95. Descriptive and inferential (multiple regression) analysis was used to analyse the data at 5% level of significance. The findings revealed that financial re-engineering had a significant effect on organisational capacity (learning and growth performance) (Adj. R2 = 0.607 F (5,379) = 118.008, p < 0.05). The study concluded that financial re-engineering has significant effect on organisational capacity of poultry business in Nigeria. The study recommended that the numerous agricultural institutions should prioritise the training of skilled professionals and workers at all levels running short-term developmental programmes, adapting the school curriculum to teach current trends in the livestock business, research into new methodologies of skills development as a tool for building capacity with the workforce and drive all other performance indices.

Building a responsive healthcare system - A Nigerian experience.

A healthcare system must be responsive to the needs of its clients, and this entails elements such as dignity, confidentiality, autonomy, prompt attention, social support, basic amenities, and choice of provider. This is targeted toward improvement and maintenance of the quality of healthcare with consequent improvement in patient outcomes at a reduced cost. The aim of this study is to articulate the approach that was adopted by the Federal Medical Centre, Ebute-Metta, Lagos, Nigeria, to confront some of the challenges faced by the health sector in Nigeria and make recommendations for the future. To identify and solve the problems mitigating quality service delivery in the hospital over an initial 18-month period, the management deployed the following tools: (i) mystery shopping; (ii) patient experience survey; and (iii) quality improvement using the SafeCare methodology. The diagnosis identified the following problems: (i) service failure; (ii) financial and material leakages; (iii) challenges of human resources - poor attitude, indiscipline, inadequacy, and poor understanding of roles; (iv) infrastructural deficit and dilapidation; and (v) absence of technological support. The baseline quality assessment conducted with the SafeCare Standards gave a score of 45%, while performance at the follow-up quality assessment was 69%. As a direct result of the findings, the hospital designed an 18-month renewable strategic plan premised on five pillars: (i) human resources development; (ii) improvement of quality of service; (iii) expansion of services and infrastructure renewals; (iv) financial re-engineering and partnership; and (v) appropriate utilization of technology. Through this policy redirection and constant re-evaluation, our quality improvement journey continues to yield desired positive health system outcomes. We recommend collaborative quality improvement initiatives with strong internal political will that can harness both the institution's resources and independent experts on health system development.

Financial Big Data Management and Control and Artificial Intelligence Analysis Method Based on Data Mining Technology

Driven by capital and Internet information (IT) technology, the operating scale and capital scale of modern industrial and commercial enterprises and various organizations have increased exponentially. At present, the manual-based financial work model has been unable to adapt to the changing speed of the modern business environment and the business rhythm of enterprises. All kinds of enterprises and organizations, especially large enterprises, urgently need to improve the operational efficiency of financial systems. By enhancing the integrity, timeliness, and synergy of financial information, it improves the comprehensiveness and ability of analyzing complex problems in financial analysis. It can cope with such rapid changes and help improve the financial management capabilities of enterprises. It provides more valuable decision-making guidance for business operations and reduces business risks. In recent years, the vigorous development of artificial intelligence technology has provided a feasible solution to meet the urgent needs of enterprises. Combining data mining, deep learning, image recognition, natural language processing, knowledge graph, human-computer interaction, intelligent decision-making, and other artificial intelligence technologies with IT technology to transform financial processes, it can significantly reduce the processing time of repetitive basic financial processes, reduce the dependence on manual accounting processing, and improve the work efficiency of the financial department. Through the autonomous analysis and decision-making of artificial intelligence, the intelligentization of financial management is realized, and more accurate and effective financial decision-making support is provided for enterprises. This paper studies the company’s intelligent financial reengineering process, so as to provide reference and reference for other enterprises to upgrade similar financial systems. The results of the analysis showed that at the level of α = 0.05 , there was a significant difference in the mean between the two populations. When the r value is in the range of -1 and 1, the linear relationship between the x and y variables is more obvious. This paper proposes decision-making suggestions and risk control early warning to the group decision-making body, or evaluates the financial impact of the group’s decision-making, and opens the road to financial intelligence.

Financial Re-Engineering and Growth in Performance of Small and Medium Enterprises (SMEs) in Nigeria

Small and Medium Enterprises are the major engine room for growth of every nation.In recent times, studies have shown that business processes have become complex and these have affected the sustainability of SMEs. Changes in business processes require organizations to be dynamic and exploit opportunities perceived to influence performance of small and medium enterprises (SMEs). The study examined the effect of financial reengineering on the growth in performance of SMEs in Nigeria. The study employed survey research design. The sampled population was 11,663 SMEs in Lagos State,the business heartbeat of Nigeria. Using Taro Yamane formula, Sample size was 387. The owners/managers of these SMEs were selected through a multi-stage sampling technique involving stratified and proportionate sampling method. 387 copies of structured questionnaire were administered with a retrieval rate of 100%. Cronbach alpha coefficient ranged from 0.707 to 0.832. Descriptive and inferential statistics were used for data analysis. The findings revealed that financial re-engineering has significant effect on sales growth of SMEs.........

Financial Re-Engineering and Financial Performance of Saccos

Purpose: The current study sought to establish the trends in financial re-engineering and financial performance of SACCOs and present existing knowledge gaps that need to be filled based on studies done in other contexts.&#x0D; Methodology: The study adopted a desktop literature review method (desk study). This involved an in-depth review of studies related to financial re-engineering and its effects on financial performance of SACCOs. Three sorting stages were implemented on the subject under study that is financial reengineering and financial performance of SACCOs, in order to determine the viability of the subject for research. After an in-depth search into the top key words (financial strategies, financial innovation, financial reengineering and financial performance of SACCOs), the researcher arrived at 15 articles that were suitable for analysis.&#x0D; Results: The study noted that from the survey, majority of the studies were based and cited most between the year 2012 and 2018, implying the relevance of the subject in the current decade. From the analysis, most of the publications on financial reengineering and financial performance of SACCOs, were from the renowned Journal published under various journal platforms. This is an indication of the credibility of the subject under review by many scholars. In addition, the survey provides evidence as to why the subject under review is of importance in the African context since majority of the studies under review were from the European and Asian regions. A trend analysis was conducted indicating that over the period the studies were researched. Financial reengineering and performance subject have been receiving the concerns by various authors. This was drawn from the upwards increasing trend in the subject of the study since 2012 to 2019. The survey likewise found that descriptive research design was the trending technique to survey studies on financial reengineering and performance. Majority of the studies from the analysis revealed a positive relationship between financial reengineering and financial performance of SACCOs.&#x0D; Unique contribution to theory, practice and policy: Based on the survey findings, the study recommended that financial reengineering effect on financial performance in SACCOs is a maiden study that other authors from other parts can use to base future studies on. Findings from this study may be used to shape policy in the area of managing financial performance in SACCOs. Currently, the existing financial strategies are weak, not standard and not competitive since the competition from other related financial institutions is stiff. The findings would help to further develop an adaptive strategy for to step up in the competition in the financial sector.

THE CHALLENGES CONFRONTING PUBLIC SECTOR ACCOUNTING AND FINANCIAL MANAGEMENT: A PERSPECTIVE OF PROFESSIONAL ACCOUNTING PRACTICE IN NIGERIA

The public sector is that sector of the economy that is organised and operated by the government, to cater for the citizenry and composed of ministries, parastatals, Agency & municipal. It is distinct from the private sectors that are built on profit orientation. Public sector accounting system is unique and meant to record all financial information and transaction of government activities and transaction. It is described as a process of recording, communicating, summarizing, analyzing and interpreting government financial statement Adams (2004) and as the value of monitory operations increase, there became the need to introduce professionalism in financial reporting. This was to curb financial statement anomalies, falsification and engineering that became the other of the day in recent time of which both directors, administrators, top political personalities and professional accountants and auditors were indicated, which calls for over haul of the public sector financial administration and the need for adequate capacity building within the two major accounting professional bodies ICAN and ANAN and the recent recognition of CPA Nigeria in the sector. Chi square was used to test the validity of the research hypothesis which reveals that challenges confronting public sector has impact on financial statement which is alternative hypothesis (HI). A simple questionnaire were administered to collect data used for analysis, the study investigated the respondents on five characteristics namely Gender, Age group, Highest level of Education, Professional qualification to mention, which O cells (0%) have expected frequency of 21.8 while b. 0 cells (0%) have expected frequencies less than 5, and the minimum expected cell frequency 43.5. It was revealed that public sector accounting and financial administration has witnessed a lot of storm of financial mismanagement, maladministration, and financial re-engineering which has devastated the economy and made many citizen unemployed, hungry and unstable. It was recommend that there should be adequate capacity building with the professional accounting bodies with a good system of financial administration reform with global policy such as IPSAS backed with restructure of procedure to strengthen professional independence as to ensure accountability. JEL: H83, M41, M42, H20 Article visualizations:

Financial Re-Engineering: An Innovative Initiative for Financial Inclusion

Financial Re-engineering is designing of the financial instruments, process and policy customized to the needs of client base. This can help Financial Institutions to move a step ahead in bringing the economically marginalized populace towards prosperity by bringing them actively in financial system. For this financial institutions should concentrate on the problem faced by these clients in availing the finance facilities and should re-engineer the current financial instruments or should innovate new financial instruments to tap the available market efficiently. The study is based on secondary data collected from the recent studies in various parts in India. The research paper discusses the reviews of financial inclusion studies in India to identify how it serves the inclusive economic growth in the country. Also it attempts to suggest certain tools through financial re-engineering and innovations to advance a level in direction of financial inclusion. One such innovative instrument that can be developed by micro insurance companies is providing in kind benefits instead of cash benefits during the claims. Designing composite products that includes a combination of different micro financial instruments can also be helpful for improving the financial inclusion. Digitizing payments is also an important step forward towards financial inclusion.

Stylized facts and trends of high frequency data in financial markets

High frequency data has given a paradigm shift to financial markets. High Frequency data is intra-daily data on financial variables taken at a finer time scale (also termed as tick size) and are often irregularly spaced over time. This data has an ability to define financial market micro-structure and make rational real-time decisions. There are diverse form of low frequency data like monthly, daily or yearly data but high frequency data, which means intra-day, intra-hour, intra-minutes or intra-seconds data have their own characteristics and special statistical properties, therefore also called as ultra high frequency data. Existing trends in high frequency literature revealed that there is huge prospective of this data for market researchers, traders, market practitioner, market regulators and investors in field of financial re-engineering, risk management systems, volatility modelling and forecasting.

Reassessing the Practical and Theoretical Influence of Entrepreneurship Through Acquisition

This paper presents a long overdue reassessment of entrepreneurship through acquisition (ETA). Traditionally considered simply a niche occurrence of small company leveraged buyouts (LBO), ETA is actually a meaningful contributor to a nation’s entrepreneurial capacity and business revitalization. Scholarly understanding of ETA has been severely limited by three factors: the paucity of data related to entrepreneurial acquisitions, the tendency to equate entrepreneurship primarily with new venture creation, and the reliance upon explanatory models for buyouts that are grounded in narrowly conceived notions of 1980s-era, large-scale, hyper-leveraged LBOs. Prior efforts to conceptualize all buyouts based on the large LBO model and through the lens of agency theory have severely restricted the ability of scholars to look past the buyout model motivated by financial reengineering gains to see instead the entrepreneurial aims and outcomes often associated with buyouts, particularly ETA. In order to situate ETA more fruitfully in the domain of entrepreneurship finance, we take issue with the conventional agency theory framing and offer instead an explanatory model for ETA involving entrepreneurial intent and novel financing. To overcome the data scarcity problems and to bring the characteristics of ETA into sharper relief, we present testable propositions side-by-side with data from search funds, a specific ETA investment vehicle that substantively replicates the entrepreneurial intents and outcomes of ETA. By examining the theoretical streams of LBO and entrepreneurship finance in practical context of search funds, we build a more coherent conceptualization of ETA.

Entrepreneurship through Acquisition

This paper presents a long overdue reassessment of entrepreneurship through acquisition (ETA). Traditionally considered simply a niche occurrence of small company leveraged buyouts (LBO), ETA is actually a meaningful contributor to a nation’s entrepreneurial capacity and business revitalization. Scholarly understanding of ETA has been severely limited by three factors: the paucity of data related to entrepreneurial acquisitions, the tendency to equate entrepreneurship primarily with new venture creation, and the reliance upon explanatory models for buyouts that are grounded in narrowly conceived notions of 1980s-era, large-scale, hyper-leveraged LBOs. Prior efforts to conceptualize all buyouts based on the large LBO model and through the lens of agency theory have severely restricted the ability of scholars to look past the buyout model motivated by financial reengineering gains to see instead the entrepreneurial aims and outcomes often associated with buyouts, particularly ETA. In order to situate ETA more fruitfully in the domain of entrepreneurship finance, we take issue with the conventional agency theory framing and offer instead an explanatory model for ETA involving entrepreneurial intent and novel financing. To overcome the data scarcity problems and to bring the characteristics of ETA into sharper relief, we present testable propositions side-by-side with data from search funds, a specific ETA investment vehicle that substantively replicates the entrepreneurial intents and outcomes of ETA. By examining the theoretical streams of LBO and entrepreneurship finance in practical context of search funds, we build a more coherent conceptualization of ETA.

Innovations in Finance - Perspective, Problems and Possibilities

Money is one of the most powerful objects on the earth. Money as a substance has carried a tremendous attraction for the mind. The best of minds, the most controlled minds get blown over by money. Hence the subject that deals with management of money will always be an eye-catching subject. Time and again the subject experts have tried to project advances through terms like financial engineering, financial reengineering, financial innovation etc. This paper is an attempt to understand what kind of innovations have really taken in the world of finance so far. The first objective of the paper is to have a right perspective of the subject matter of innovations in finance. Next, the article highlights the problems associated with innovations in finance. Finally an attempt has been made to project possibilities with financial engineering with particular emphasis on role of technology. An out-of-the-box concept of financial inner engineering has also been briefly discussed.

The consolidation wave in U.S. food retailing: A European perspective

AbstractThis article assesses, from the perspective of a European academic, the intense wave of acquisition and merger driven consolidation that swept through the U.S. food retail industry during the late 1990s. It reviews the characteristics and causes of that consolidation wave, placing emphasis on the regulatory history of the industry, the consequences of its financial reengineering during the 1980s, and the link between Wal‐Mart's entry into the industry and the consolidation wave. The article then assesses the extent to which a shift in regulatory policy and practice by the Federal Trade Commission at the very end of the decade may have altered the pattern and scale of consolidation in the industry. Finally, it considers the future landscape of U.S. food retail consolidation, debating the consequences for the consolidation process of the period of FTC regulatory tightening during 1999/2000 and the likely implications of a Bush administration appointee heading the FTC [EconLit Classifications: L810, L190, G340, L400]. © 2001 John Wiley &amp; Sons, Inc.

Investing for the Future: Assessing Shareholder Value of the Regional Bell Operating Companies

Regional Bell Operating Companies' earnings in constant dollars have remained essentially flat since divestiture, but stock prices have risen on average more than 125 percent. To meet this investor confidence, the RBOCs must aggressively follow new strategies. Demand for new capital will require aggressive marketing, de-averaged pricing, and innovative financial re-engineering. Operational processes need to be redesigned to meet competition in cost and quality. Regulatory changes are needed to adopt incentive-based reforms, putting ceilings on prices rather than profits. Capital dollars must be targeted on profitable pockets of demand. Finally, the re-engineering of networks and management processes will require new ways of allocating both capital and human resources.