Index of Professionalism in Financial Decisions

P. K. Jain, Shveta Singh and Surendra Singh Yadav
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P. K. Jain: Indian Institute of Technology
Shveta Singh: Indian Institute of Technology
Surendra Singh Yadav: Indian Institute of Technology

Chapter Chapter 8 in Financial Management Practices, 2013, pp 299-316 from Springer

Abstract: Abstract What has been described and discussed in the other chapters is utilised in an attempt to develop an index of professional practices relating to financial management. The index has been developed in the basis of the responses received to a questionnaire sent to all the 166 sample companies. Though the number of responses received and used, being 29, was not very high, it can be considered a fairly good representation of the sample. A corporate would be called professional if its management practices are consistent with the systematic body of knowledge and tools and techniques of sound theory. This means that the professional enterprises would not follow arbitrary/ad hoc or rule-of-thumb approach in taking decisions. In brief, it may be said that sample companies are using sound financial management practices in a great measure. However, there is a greater scope for improving professionalism in some categories of financial management practices (like capital structure and risk management) than others.

Keywords: Financial Management Practices; Sample Companies; Capital Structure (CS); Professional Enterprise; Sound Theory (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-81-322-0990-4_8

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DOI: 10.1007/978-81-322-0990-4_8

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