This study aims to evaluate the effect of rapid changes in financial technologies and their impact on the financial services industry of India. A descriptive study has been made on the implementation of financial technologies in modern-day financial services Industries. An intensive literature review has been done from the existing most recent available journals, newspaper articles, government websites, and magazines. We have discussed the effects of the financial technologies on the existing financial system of India, the threats and challenges faced by the regulators in regulating the novel disruptive technologies. We have also discussed potential threats, challenges and future prospects of upcoming technologies in the mutual funds industry in India. Based on the literature review, it is found that financial technologies (FinTech) have a positive and important effect on the financial services industry of India. The AUM (Asset Under Management) has seen a tremendous jump in the recent past. It has also increased the customer experience with better access to the back office, even from remote places. In addition, the paper has also discussed the challenges faced by the regulators, who are yet to fully understand the implication of the fast-changing technological environment around us. Finally, this article contributes to the knowledge building and understanding of financial technologies and its impact on the financial industry, challenges, and future prospects.
The literature on the topic of the Use and Integration of Accounting Software is quite extensive, but less broad in the context of challenges faced by SMEs, and even more and narrow when we look at the limited literature on the numerous challenges faced in a geographically dispersed location such as Oman. This literature review analyzes and investigates existing research on the challenges faced by SMEs in using and integrating accounting software, to find out the most significant and relevant variables previously identified through previous studies. The aim being to apply a select few of those variables and apply them to the context of Oman to identify the specific obstacles that Omani SMEs face. The literature review involved a methodical exploration of diverse academic databases, employing specific search terms such as “SMEs,” “accounting software,” “challenges,” “adoption,” “integration,” and “small business.” The selection criteria focused on peer-reviewed articles and subsequently, a comprehensive evaluation of abstracts and full-texts led to the identification of about 20 pertinent studies for in-depth analysis. The research looked upon coordinate with the central and fundamental themes and dimensions of the topic, and mainly consists of secondary data including peer reviewed journals on the importance of accounting software and the benefits for SMEs in comparison with traditional or manual accounting. Moreover, the main obstacles faced by SMEs in the adoption of accounting software is reviewed as well. The review of the selected literature has revealed that although there are numerous factors or challenges that influence the proper use and integration of accounting software, the studies all found certain key variables that stand out in relation to others. Furthermore, the most significant challenges faced seem to be affected by other variables such as the level of development of the economy or country or special circumstances such as the Covid-19 Pandemic. This means that this research which is carried out in less developed economy, and in a post-pandemic environment is necessary to reflect the actual circumstances of Omani SMEs implementing accounting software.
Purpose: The main objective of this paper is to determine empirically the impact of financial inclusion and Information Communication Technology (ICT) on tax performance in Sub-Saharan African countries; determine the extent to which the elements of financial inclusion have influenced tax performance of countries in Sub-Saharan Africa; and examine the role technology plays in impacting the performance of taxes in Sub-Saharan African countries. Theoretical Framework: The existing theories that serve as a roadmap for the development of this study are Theory of Digital Diffusion and Theory of Margins. Digital transformation has an important impact on the operations and systems of every economy, which often triggers a positive effect on taxes. Diffusion innovation theory was initiated by Rogers in 1962. The Theory of Margin on the other hand, is a theoretical school that gives validity to the impact of financial development on product output. It suggests that more access to financial services and products is vital for high output and economic advancement. Design/Methodology/Approach: The population considered in this study was 48 sub-Saharan African Countries from the period of 1999 to 2019. The methods used for the analysis consists of the descriptive and correlation analysis on the identified variables and a creation of financial inclusion index using the Principal Component Analysis to deal with multiclonality challenge amongst the financial inclusion proxies, it also adopted the two-staged least square estimation technique for the empirical analysis. Findings: The study reveals inter alia that the variables for financial inclusion and ICT proxies are overwhelmingly positive and significantly impact on the tax performance (i.e., total tax revenue and the non-resource tax revenue as percentages of GDP), in sub-Saharan Africa and that the financial inclusion index has positive effect on tax performance in sub-Saharan Africa. We also observed that there is a positive relationship between technology and tax performance in sub-Saharan Africa. Research Practical & Social implications: Policies should be formulated to engender enhancement of technology and more investment should be allocated to technology as it is discovered to drive financial inclusion and promotes tax revenue mobilization. In general, the findings indicate that policies are needed to engender an enhancement of technology and more investment should be channeled to technology as it affects financial inclusion and by logical extension, the promotion of tax revenue mobilization. Originality/value: The challenge of tax implementation can be directly ascribed to an ineffective tax system. A tax management that is of high in superiority, helps to make the tax mobilization process more transparent and efficient, and also reduce the level of shadow economy, which main feature is non- remittance or payment of tax. This study reveals that a tax administration system can only operate effectively with the use of modern information technologies.
Objective: This article analyses elements, characteristic and principle of corporate governance in the public sector. We are going to explore the significance and identify the need for a good governance in public entities. Methods: This study emphasizes comparative analysis of advantages and disadvantages of corporate governance. It also used historical methods for demonstrating the importance of progress in the concept of corporate governance. Several past research journals have been used to present a blend of the need and characteristics of Corporate Governance in the public sector. Through this study, the researchers have made an effort to prove the importance and effectiveness of corporate governance in the public sector. Findings: Delivering public services and satisfying public need is the most important goal of public authorities’ corporate governance. It also has aim to increase shareholders profit through obtaining citizen satisfaction. In addition, satisfying the need of client (citizen) can improve public benefit. Application/Improvements: The main areas of research interest in this still incipient area and it illustrates the ways in which public sector approaches to codes of good practice, corporate ethics and social responsibility differ from their equivalents in the private sector. This study explains and analyses the fundamental concepts of the Corporate Governance of public entities. Also, authors have aim to explain effective governance in the public sector. Keywords: Corporate Governance, Characteristics, Effectiveness, Elements, Principle, Public Sector
High-value denomination currency was scrapped off from the Indian economy on 8th November 2016, Rs. 500 and Rs. 1,000 currency notes were declared invalid at midnight hour. Taking such a bold step by Hon. Prime Minister of India Mr. Narendra Modi, means declaring 86% of cash in circulation an illegal tender overnight. This study is conducted on the immediate effect of demonetization on the microfinance industry in India and its after-effects in the later years. We have analyzed the data collected from the rural sector, on the collections and lending, impact on the farmers, how it has affected the small microfinance companies. We have also analyzed RBI’s initiative towards financial inclusion, Pradhan Mantri Jan Dhan Yojana (PMJDY), the emergence of new Small Finance Banks, Digital Banks, Payment banks, etc. We have critically analyzed the impact of cost versus the benefit from the demonetization exercise for the rural and microfinance industry. The aim of this study is to analyze the overall financial inclusion of the rural and small sectors towards the dream of a Cashless Economy.
The emerging area of research in financial industry is drawing a relation between the firms’ performance and its stock return. The outcome of all the research conducted over time has varying results. Over the years there are tremendous efforts to understand the link between financial performance of a company and its stock return. Despite the number of research attempts, it is still having low success rate, because of the unpredictability and volatility in the stock market. It is still an area to explore and study the possibility to accurately understand the stock returns by using the financial ratios. The present study is to investigate the financial ratios as an indicator of stock returns in context of Indian Companies. The study is based on 30 listed companies in BSE for a period of ten years and both financial and statistical techniques are applied for formulating a meaningful conclusion. The findings of this study clearly establish a positive correlation among the financial performance and the stock return.
Forensic accounting makes use of concepts and methods that date back centuries. The economy, society, and laws are just a few of the factors that have formed the profession in our ever-changing world. Accounting fraud has been more common in the international corporate sector in recent years. Because businesses are still relatively new and lack experience in managing their accounts, there are now undiscovered opportunities for those who commit accounting fraud. The public’s opinion of the many fraudulent operations that occur in the nation has also been negatively impacted by this. As a result, this article looks at how the general public feels about fraud detection, which is important for company expansion. The literature study on the public’s acceptance of fraud detection is the paper’s unique selling point. The significance of fraud detection for bolstering and competing in the business is outlined in this article.
This study examines the relationship between capital structure and financial performance within the oil and gas sector in the Sultanate of Oman, focusing on companies listed on the Ministry of Energy and Minerals over the period of 2021-2023. The research investigates how different capital structure components, such as debt-to-equity ratio, leverage, and debt maturity, influence various financial performance indicators, including profitability, liquidity, and shareholder value. The study aims at offering insights into the best capital structure strategies for oil and gas firms in Oman to improve their financial performance and sustainable growth using quantitative analysis methodologies, such as regression analysis and financial ratio analysis. It is anticipated that the research’s conclusions will add to the body of knowledge already available on capital structure and financial performance, with important ramifications for investors, financial managers, legislators, and other industry participants in Oman’s oil and gas sector and beyond.
Purpose: This research aims to examine and study the direct impact of change in COVID-19 cases and IIP index on the performance of NIFTY and selected mutual funds NAV performance for one year from the date WHO declared COVID-19 pandemic on 11 March 2020. Approach/Methodology/Design: The study applies using daily NAV series of four mutual funds across sectors. ANOVA, Correlation, Regression, Descriptive Statistics. Findings: There is a strong relation among NIFTY 50 and all the four mutual funds’ NAV performance, however, the relation between daily reported COVID-19 cases and NAV performance couldn’t be established. Practical Implications: Economic turmoil has affected the disposable income of investors, the capital market is very volatile. This study will help the researchers and analysts to understand the relationship between COVID-19, NIFTY 50 index and select mutual funds NAV movements. And they can make a better decision under a similar situation.
This study explores the effectiveness of Value-Added Tax (VAT) audits in enhancing tax compliance in Oman, focusing on tax years 2022-2024. It examines the extent to which VAT audits contribute to reducing tax evasion, increasing fiscal transparency, and ensuring efficient revenue collection. The research draws from Omani state budgets, tax compliance reports, and audit documents to provide insights into the role of VAT audits in improving fiscal governance. Additionally, a comparative analysis with other GCC nations highlights Oman’s progress and challenges in tax compliance enforcement. The findings indicate that VAT audits have significantly increased compliance rates but continue to face administrative, technological, and taxpayer-related challenges that require urgent attention. The study underscores the need for further digitalization of audit processes, enhanced training of auditors, and improved taxpayer awareness programs to maximize the effectiveness of VAT audits in Oman.
