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Determinants of capital structure of Nepalese insurance companies / Sangita Saud
Title : Determinants of capital structure of Nepalese insurance companies Material Type: printed text Authors: Sangita Saud, Author Publication Date: 2019 Size: GRP/Thesis Accompanying material: 14/B Languages : English Abstract: Capital structure can be defined as permanent financing of the firm that is represented by debt, preferred stock and equity. Generally, it refers with the combination of the long term sources of the fund. Capital structure decisions are among the most important financing decisions companies would have to experience. Under the perfect capital market assumption, if there is no bankrupt cost and without taxes, the firm's value is independent with the capital structure. Financial institutions like insurance companies are very important to enhance economic growth and development. Insurance companies serve the needs of business units and private individuals in financial intermediation. Insurance companies play a key role in financial sector. In developed countries, it accounts for a significant portion of the economy. By collecting relative premium from many small individuals in the economy, insurance companies are able to pull a large pool of funds that could be invested in both short and long term periods. Capital is considered as the cornerstone of insurance’s financial strength since it supports insurance operations by providing a buffer to absorb unanticipated losses from its activities and, in the event of problems, enabling the bank to continue to operate in a sound and viable manner while the problems are addressed or resolved.
The study attempts to examine the determinants of capital structure of Nepalese insurance companies. Total debt to equity and total debt to total assets are the dependent variables. The independent variables are firm size, profitability, assets growth rate, tangibility and liquidity. The study is based on secondary data of 16 insurance companies with 128 observations for the period of 2010/11 to 2017/18. The secondary data and information have been collected from annual reports of selected insurance companies. The regression models are estimated to test the significance and impact of different variables on financial stability of Nepalese insurance companies. The findings of the paper are largely original in the area of capital structure of Nepalese insurance companies.
The result shows that average total debt to total equity for Nepalese insurance companies is highest for UIC (94.33%) and lowest for NALIC (2.73%), average total debt to total assets for Nepalese insurance companies is highest for LGIL (60.56%) and lowest for ALICL (6.80%). average liquidity ratio for Nepalese insurance companies is highest for NLIC (8.51%) and lowest for SGIC (0.26%). average return on assets for Nepalese insurance companies is highest for PICL (12.30%) and lowest for LIC (1.16%), average firm size for Nepalese insurance companies is highest for NLIC (3582.95 million) and lowest for HGI (472.62million), average assets tangibility for Nepalese insurance companies is highest for NALIC (31%) and lowest for GICIL (1.75%) and average assets growth for the Nepalese insurance companies is highest for SLICL (56.84%) and lowest for UIC(14.89%).
The descriptive statistics shows that total debt equity ranges from a minimum of 0.45 percent to the maximum of 156.08 percent to the average of. 31.83. However, total debt assets ranges from minimum of 0.47 percent to maximum of 175.73 percent leading to an average of 27.97 percent. The average firm size of selected insurance companies during the study period is noticed to be with a minimum of 38.28 million and a maximum of 9514.64 million with an average of 1686.56 million. Likewise, return of assets a minimum of 0 percent to maximum of 15.73 percent with an average of 5.78 percent. The average of assets growth of selected insurance companies during the study period is noticed to be 30.94 percent with minimum of -47.90 percent and maximum of 298.09 percent. Similarly, the average of assets tangibility during the study period is noticed to be 10.10 percent with a minimum of 0.03 percent and a maximum of 54.42 percent. And the liquidity ratio ranges from minimum of 0.03 percent to maximum of 17.22 percent, leading to an average of 2.37 percent.
The result also shows that there is positive relationship between return on assets and total debt asset ratio. This means that higher the return on assets, higher would be the total debt asset ratio. Similarly, the result also shows that there is positive relationship between asset growth and total debt asset ratio. This means that higher the asset growth, higher would be the total debt asset ratio. However, the result also shows that there is positive relationship between asset tangibility and total debt asset ratio. This means that higher the asset tangibility, higher would be the total debt asset ratio. Similarly, the result also shows that there is positive relationship between liquidity and total debt asset ratio. This means that higher the liquidity, higher would be the total debt asset ratio. Similarly, there is negative relationship of firm size with total debt asset ratio. It means that larger the firm size, higher would be the total debt asset ratio.
The result also shows that there is positive relationship between return on assets and total debt equity ratio. This means that higher the ROA, higher would be the total debt equity ratio. Similarly, the result shows that there is negative relationship between assets growth and total debt equity ratio. It indicates that higher the assets growth, lower would be the total debt equity ratio. Similarly, the results show that there is positive relationship between assets tangibility and total debt equity ratio. This means that higher the assets tangibility, higher would be the total debt equity ratio. Likewise, the results show that there is negative relationship between liquidity and total debt equity ratio. This means that higher the liquidity, lower would be the total debt equity ratio. Similarly, firm size has negative relationship with total debt equity ratio. This means that larger the firm size, lower would be the total debt equity ratio.
The regression analysis shows that beta coefficients are negative for asset growth, liquidity ratio and firm size indicating that higher the asset growth, liquidity ratio and firm size, lower would be the total debt equity and vice-versa. However, it is positive for return on assets and asset tangibility indicating that higher the return on assets and asset tangibility higher would be the total debt equity ratio and vice-versa.
The regression analysis shows that beta coefficients are negative for firm size indicating that higher the firm size lower would be the total debt asset and vice-versa. However, it is positive for return on assets, asset growth, asset tangibility and liquidity ratio indicating that higher the return on assets, asset growth, asset tangibility and liquidity ratio higher would be the total debt asset and vice-versa.
Determinants of capital structure of Nepalese insurance companies [printed text] / Sangita Saud, Author . - 2019 . - ; GRP/Thesis + 14/B.
Languages : English
Abstract: Capital structure can be defined as permanent financing of the firm that is represented by debt, preferred stock and equity. Generally, it refers with the combination of the long term sources of the fund. Capital structure decisions are among the most important financing decisions companies would have to experience. Under the perfect capital market assumption, if there is no bankrupt cost and without taxes, the firm's value is independent with the capital structure. Financial institutions like insurance companies are very important to enhance economic growth and development. Insurance companies serve the needs of business units and private individuals in financial intermediation. Insurance companies play a key role in financial sector. In developed countries, it accounts for a significant portion of the economy. By collecting relative premium from many small individuals in the economy, insurance companies are able to pull a large pool of funds that could be invested in both short and long term periods. Capital is considered as the cornerstone of insurance’s financial strength since it supports insurance operations by providing a buffer to absorb unanticipated losses from its activities and, in the event of problems, enabling the bank to continue to operate in a sound and viable manner while the problems are addressed or resolved.
The study attempts to examine the determinants of capital structure of Nepalese insurance companies. Total debt to equity and total debt to total assets are the dependent variables. The independent variables are firm size, profitability, assets growth rate, tangibility and liquidity. The study is based on secondary data of 16 insurance companies with 128 observations for the period of 2010/11 to 2017/18. The secondary data and information have been collected from annual reports of selected insurance companies. The regression models are estimated to test the significance and impact of different variables on financial stability of Nepalese insurance companies. The findings of the paper are largely original in the area of capital structure of Nepalese insurance companies.
The result shows that average total debt to total equity for Nepalese insurance companies is highest for UIC (94.33%) and lowest for NALIC (2.73%), average total debt to total assets for Nepalese insurance companies is highest for LGIL (60.56%) and lowest for ALICL (6.80%). average liquidity ratio for Nepalese insurance companies is highest for NLIC (8.51%) and lowest for SGIC (0.26%). average return on assets for Nepalese insurance companies is highest for PICL (12.30%) and lowest for LIC (1.16%), average firm size for Nepalese insurance companies is highest for NLIC (3582.95 million) and lowest for HGI (472.62million), average assets tangibility for Nepalese insurance companies is highest for NALIC (31%) and lowest for GICIL (1.75%) and average assets growth for the Nepalese insurance companies is highest for SLICL (56.84%) and lowest for UIC(14.89%).
The descriptive statistics shows that total debt equity ranges from a minimum of 0.45 percent to the maximum of 156.08 percent to the average of. 31.83. However, total debt assets ranges from minimum of 0.47 percent to maximum of 175.73 percent leading to an average of 27.97 percent. The average firm size of selected insurance companies during the study period is noticed to be with a minimum of 38.28 million and a maximum of 9514.64 million with an average of 1686.56 million. Likewise, return of assets a minimum of 0 percent to maximum of 15.73 percent with an average of 5.78 percent. The average of assets growth of selected insurance companies during the study period is noticed to be 30.94 percent with minimum of -47.90 percent and maximum of 298.09 percent. Similarly, the average of assets tangibility during the study period is noticed to be 10.10 percent with a minimum of 0.03 percent and a maximum of 54.42 percent. And the liquidity ratio ranges from minimum of 0.03 percent to maximum of 17.22 percent, leading to an average of 2.37 percent.
The result also shows that there is positive relationship between return on assets and total debt asset ratio. This means that higher the return on assets, higher would be the total debt asset ratio. Similarly, the result also shows that there is positive relationship between asset growth and total debt asset ratio. This means that higher the asset growth, higher would be the total debt asset ratio. However, the result also shows that there is positive relationship between asset tangibility and total debt asset ratio. This means that higher the asset tangibility, higher would be the total debt asset ratio. Similarly, the result also shows that there is positive relationship between liquidity and total debt asset ratio. This means that higher the liquidity, higher would be the total debt asset ratio. Similarly, there is negative relationship of firm size with total debt asset ratio. It means that larger the firm size, higher would be the total debt asset ratio.
The result also shows that there is positive relationship between return on assets and total debt equity ratio. This means that higher the ROA, higher would be the total debt equity ratio. Similarly, the result shows that there is negative relationship between assets growth and total debt equity ratio. It indicates that higher the assets growth, lower would be the total debt equity ratio. Similarly, the results show that there is positive relationship between assets tangibility and total debt equity ratio. This means that higher the assets tangibility, higher would be the total debt equity ratio. Likewise, the results show that there is negative relationship between liquidity and total debt equity ratio. This means that higher the liquidity, lower would be the total debt equity ratio. Similarly, firm size has negative relationship with total debt equity ratio. This means that larger the firm size, lower would be the total debt equity ratio.
The regression analysis shows that beta coefficients are negative for asset growth, liquidity ratio and firm size indicating that higher the asset growth, liquidity ratio and firm size, lower would be the total debt equity and vice-versa. However, it is positive for return on assets and asset tangibility indicating that higher the return on assets and asset tangibility higher would be the total debt equity ratio and vice-versa.
The regression analysis shows that beta coefficients are negative for firm size indicating that higher the firm size lower would be the total debt asset and vice-versa. However, it is positive for return on assets, asset growth, asset tangibility and liquidity ratio indicating that higher the return on assets, asset growth, asset tangibility and liquidity ratio higher would be the total debt asset and vice-versa.
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Barcode Call number Media type Location Section Status 615/D SAU Thesis/Dissertation Uniglobe Library Philosophy & Psychology Available Impact of customer satisfaction on customer loyalty and switching intention in Nepalese commercial banks / Sangita Saud
Title : Impact of customer satisfaction on customer loyalty and switching intention in Nepalese commercial banks Material Type: printed text Authors: Sangita Saud, Author Publication Date: 2019 Pagination: 101p. Size: GRP/Thesis Accompanying material: 13/B Languages : English Abstract: Customer satisfaction has drawn much more attention in the academic literature. There is ongoing research on customer satisfaction but the topic is much debatable in itself. Customer satisfaction models have been developed to explain the relationship between customer satisfaction, customer loyalty and switching intention in Nepalese commercial banks. There is an accepted norm in finance that specific variables explain the behavior of expected customer satisfaction. They provide a useful mechanism to evaluate dimensions of customer satisfaction, customer loyalty and switching intention.
Most of the empirical work investigates the relationship between factors customer satisfaction, customer loyalty and switching intention in Nepalese commercial banks mostly in the developed economy. However, such studies are lacking in the developing countries like Nepal. Therefore, this study tries to investigate the relationship between the customer satisfaction, customer loyalty and switching intention evidence from Nepalese commercial banks. Customer satisfaction is highly sensitive to market activities. For that reason, this study basically aimed at examining the empirical relationship between customer satisfactions, customer loyalty and switching intention in the context of Nepal.
This study basically concentrate on the following purpose: a) To analyze the perception of customer’s on the level of reliability, empathy, assurance, responsiveness, tangibility and customer loyalty of retail banking in Nepal. b) To analyze the perception of customer’s on the level of reliability, empathy, assurance, responsiveness, tangibility and switching intention of retail banking in Nepal. c) To examine the relationship of reliability, responsiveness, tangibility, assurance and empathy on customer loyalty and switching intention in Nepalese commercial banks. d) To determine the impact of reliability, responsiveness, tangibility, assurance and empathy on customer loyalty and switching intention in Nepalese commercial banks.
This study examines the impact of customer satisfaction on customer loyalty and switching intention variable namely reliability, tangibility, responsiveness, empathy and assurance in the context of Nepalese commercial banks.
The study is based on the primary source of data. The main source of primary data is the structured questionnaire and the study was carried inside the Kathmandu valley by distributing 168 questionnaires through online and field survey. In case of private sector commercial banks, 26 commercial banks are selected according to joint venture and non-joint venture commercial banks out of 28 private sector commercial banks. Different statistical tools like mean, standard deviation, correlation analysis and regression analysis are used for the primary data analysis.
The study reveals that the impact of customer satisfaction on customer loyalty and switching intention in Nepalese commercial banks. The result indicates that the responsiveness as the most important factor influencing the level of loyal customer from retail banking and empathy as the most important factor for switching intention in Nepalese commercial banks.
The study also reveals that the tangibility and empathy have positive and significant relationship with customer loyalty in Nepalese commercial banks. It indicated that better the tangibility and empathy higher would be the customer loyalty. However, reliability, responsiveness and assurance have positive relationship with customer loyalty which indicates that better the reliability, responsiveness and assurance higher would be the customer loyalty. The study also concludes that tangibility, empathy, responsiveness, assurance and reliability have negative and significant relationship with switching intention in Nepalese commercial banks.
Impact of customer satisfaction on customer loyalty and switching intention in Nepalese commercial banks [printed text] / Sangita Saud, Author . - 2019 . - 101p. ; GRP/Thesis + 13/B.
Languages : English
Abstract: Customer satisfaction has drawn much more attention in the academic literature. There is ongoing research on customer satisfaction but the topic is much debatable in itself. Customer satisfaction models have been developed to explain the relationship between customer satisfaction, customer loyalty and switching intention in Nepalese commercial banks. There is an accepted norm in finance that specific variables explain the behavior of expected customer satisfaction. They provide a useful mechanism to evaluate dimensions of customer satisfaction, customer loyalty and switching intention.
Most of the empirical work investigates the relationship between factors customer satisfaction, customer loyalty and switching intention in Nepalese commercial banks mostly in the developed economy. However, such studies are lacking in the developing countries like Nepal. Therefore, this study tries to investigate the relationship between the customer satisfaction, customer loyalty and switching intention evidence from Nepalese commercial banks. Customer satisfaction is highly sensitive to market activities. For that reason, this study basically aimed at examining the empirical relationship between customer satisfactions, customer loyalty and switching intention in the context of Nepal.
This study basically concentrate on the following purpose: a) To analyze the perception of customer’s on the level of reliability, empathy, assurance, responsiveness, tangibility and customer loyalty of retail banking in Nepal. b) To analyze the perception of customer’s on the level of reliability, empathy, assurance, responsiveness, tangibility and switching intention of retail banking in Nepal. c) To examine the relationship of reliability, responsiveness, tangibility, assurance and empathy on customer loyalty and switching intention in Nepalese commercial banks. d) To determine the impact of reliability, responsiveness, tangibility, assurance and empathy on customer loyalty and switching intention in Nepalese commercial banks.
This study examines the impact of customer satisfaction on customer loyalty and switching intention variable namely reliability, tangibility, responsiveness, empathy and assurance in the context of Nepalese commercial banks.
The study is based on the primary source of data. The main source of primary data is the structured questionnaire and the study was carried inside the Kathmandu valley by distributing 168 questionnaires through online and field survey. In case of private sector commercial banks, 26 commercial banks are selected according to joint venture and non-joint venture commercial banks out of 28 private sector commercial banks. Different statistical tools like mean, standard deviation, correlation analysis and regression analysis are used for the primary data analysis.
The study reveals that the impact of customer satisfaction on customer loyalty and switching intention in Nepalese commercial banks. The result indicates that the responsiveness as the most important factor influencing the level of loyal customer from retail banking and empathy as the most important factor for switching intention in Nepalese commercial banks.
The study also reveals that the tangibility and empathy have positive and significant relationship with customer loyalty in Nepalese commercial banks. It indicated that better the tangibility and empathy higher would be the customer loyalty. However, reliability, responsiveness and assurance have positive relationship with customer loyalty which indicates that better the reliability, responsiveness and assurance higher would be the customer loyalty. The study also concludes that tangibility, empathy, responsiveness, assurance and reliability have negative and significant relationship with switching intention in Nepalese commercial banks.
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Barcode Call number Media type Location Section Status 559/D SAU Thesis/Dissertation Uniglobe Library Social Sciences Available