Aitken and Harrison, 1996. Wages and foreign ownership: A comparative study of Mexico, Venezuela, and the United States. Journal of International Economics, 40(3/4): 345-371.
Arndt, S., 1997. Globalization and the open economy. North American Journal of Economics and Finance, 8(1): 71-79.
Chen, J., 2007. The effect of intermediate inputs trade on income distribution of China: Theory and empirical analysis. Technology Economics (In Chinese), 26(3): 80-84.
Deardorff, A.V., 1998. Fragmentation in simple trade models. The University of Michigan, Research Seminar in International Economics, Working Paper No. 422.
Deardorff, A.V., 2001. Fragmentation in simple trade models. The North American Journal of Economics and Finance, 12(2): 121-137.
Deardorff, A.V., 2005. A trade theorist’s take on skilled-labor outsourcing. International Review of Economics and Finance, 14(3): 259-271.
Fan, A. and W. Yin, 2013. An analysis of differences in influence of Intra product trade on China’s income distribution—— in comparison to general trade. Fujian Tribune (The Humanities & Social Sciences ) (In Chinese), 3: 21-23.
Feenstra, R.C., 1998. Integration of trade and disintegration of production in the global economy. Journal of Economic Perspectives, 12(4): 31-50.
Feenstra, R.C. and G.H. Hanson, 1996. Globalization, outsourcing, and wage inequality. The American Economic Review, 86(2): 240-245.
Feenstra, R.C. and G.H. Hanson, 1997. Foreign direct investment and relative wages: Evidence from Mexico’s Maquladoras. Journal of International Economics, 42(3-4): 371-393.
Feenstra, R.C. and G.H. Hanson, 2001. Global production sharing and rising inequality: A survey of trade and wages. NBER Working Paper No. 8372.
Gao, S., 2008. Impacts of China intra product trade on income distribution: Based on the analysis on intermediate in puts trade of the manufacturing industry, Master Paper, Zhejiang University, (In Chinese).
Grossman, R.C. and E.R. Hansberg, 2006. Trading tasks: A simple model of outsourcing. NBER Working Paper No. 12721.
Gu, L., 2009. Empirical research on the relationship between international outsourcing and urban-rural income gap in China: 1981-2007. Journal of International of Trade (In Chinese), 2: 33-40.
Hummelsa, D., J. Ishiib and Y. Kei-Mu, 2001. The nature and growth of vertical specialization in world trade. Journal of International Economics, 54: 75-96.
Jones, R.K., 1997. Globalization and the consequences of international fragmentation// Dombusch R, Galvo G, Obstfeldm. Money, capital mobility and trade: Festschrift in honor of Robert A. Mumdel. L Cambridge, Ma: Mitrress. pp: 365-383.
Jones, R.W., 2005. Immigration vs. Outsourcing: Effects on labor markets. International Review of Economics and Finance, 14(2): 105-114.
Jones, R.W. and H. Kieizkowski, 2001. Horizontal aspects of vertical fragmentation. In Cheng L. K. and Kieizkowskj H. Eds. Global production and trade in East Asia. Boston, MA: Kluwer Academic Publishers. pp: 33-51.
Koskela, E. and R. Stenback, 2010. Equilibrium unemployment with outsourcing and wage solidarity under labor market imperfections. European Economic Review, 54(3): 376-392.
Krugman, P., 1995. Growing world trade: Causes and consequences. Brookings Papers on Economic Activity, 1: 327-377.
Li, R., 2010. Theoretical analysis of effect of Intra-product specialization on income allocation of laborers in developing countries. Economic Survey (In Chinese), 6: 94-100.
Li, R., 2011. On effects of Intra-product trade on China’s income allocation: Based on empirical analysis of different industries in China. Finance and Trade Research (In Chinese), 6: 63-69.
Liu, W., 2012. Empirical research on intra product trade among Chinese province. Research on Financial and Economic Issue (In Chinese), 12: 40-45.
Lu, F., 2004. Intra product specialization. Economics (Quaterly), 1: 55-82.
Teng, Y. and J. Zhu, 2011. Impact of intermediate goods trade on income distribution between skilled and unskilled labor: Empirical analysis based on 31 segmented industries. Journal of International Trade (In Chinese), 5: 3-1.
Zong, Y., 2008. The international Intra product division of labor and wage income. Finance and Trade Economics (In Chinese), 4: 117-121.
Cui Yanjuan , Yu Jin (2015). An Empirical Test on Effect of Intra-Product Trade on Regional Income Distribution: The Case of Liaoning, China. Quarterly Journal of Econometrics Research, 1(1): 13-22. DOI: 10.18488/journal.88/2015.1.1/188.8.131.52
This paper examines the relationship between intra-product trade and regional income distribution by empirical tests of co-integration and Granger causality with time series data from 1994 to 2013. The conclusion shows that intra-product trade and regional income distribution have a long-term equilibrium relationship. The exports of intra-product trade can significantly reduce the income gap between urban and rural residents, while the imports have a negative influence. At the meantime, the intra-product exports and imports are the one-way causal of income distribution. In addition, the capital contribution can enlarge the urban and rural income gap significantly. Education also has a negative influence, but it is non-significant.
This study contributes in the existing literature in two main areas. First, this study focuses on the effect of intra-product trade on urban and rural income gap. Second, this study does an empirical test with Liaoning China which is rarely discussed in the intra-product trade literature.
The Effect of Selected Financial Ratios on Profitability: An Empirical Analysis of Listed Firms of Cement Sector in Saudi Arabia
Ajanthan, A., 2013. The relationship between dividend payout and firm profitability: A study of listed hotels and restaurant in Sri Lanka. International Journal of Scientific and Research Publications, 3(6): 1.
Capkun, V., A. Hameri and L.A. Weiss, 2009. On the relationship between inventory and financial performance in manufacturing companies. International Journal of Operations & Production Management, 29(8): 789-806.
D?nule?iu, A.E., 2010. Working capital management and profitability: A case of Alba county companies. Annales Universitatis Apulensis Series Oeconomica, 12(1): 364-374.
Dave, A.R., 2012. Financial management as a determinant of profitability: A study of Indian pharma sector. South Asian Journal of Management, 19(1): 124.
Innocent, E.C., O.I. Mary and O.M. Matthew, 2013. Financial ratio analysis as a determinant of profitability in Nigerian pharmaceutical industry. International Journal of Business and Management, 8(8): 107.
Lazaridis, I. and D. Tryfonidis, 2006. Relationship between working capital management and profitability of listed companies in the Athens stock exchange. Journal of Financial Management & Analysis, 19(1): 26-35.
Mohammadzadeh, M., F. Rahimi, F. Rahimi, S.M. Aarabi and J. Salamzadeh, 2013. The effect of capital structure on the profitability of pharmaceutical companies the case of Iran. Iranian Journal of Pharmaceutical Research, 12(3): 573-577.
Napompech, K., 2012. Effects of working capital management on the profitability of Thai listed firms. International Journal of Trade, Economics and Financ, 3(3): 227-232.
Okwo, I.M., C.I. Enekwe and U.D. Okelue, 2012. Financial management as a determinant of profitability: A study of selected pharmaceutical firms in Nigeria. European Journal of Business and Management, 4(20): 28-36.
Quayyum, S.T., 2012. Relationship between working capital management and profitability in context of manufacturing industries in Bangladesh. International Journal of Business and Management, 7(1): 58.
Rehman, M.U. and N. Anjum, 2013. Determination of the impact of working capital management on profitability: An empirical study from the cement sector in Pakistan. Asian Economic and Financial Review, 3(3): 319-332.
Research Department Sector Report, 2011. Saudi cements sector. Aljazeera Capital.
Salawu, R.O., 2009. The effect of capital structure on profitability: An empirical analysis of listed firms in Nigeria. The International Journal of Business and Finance Research, 3(2): 121-129.
Saleem, Q. and R. Rehman, 2011. Impacts of liquidity ratios on profitability case of oil and gas companies of Pakistan. Interdisciplinary Journal of Research in Business, 1(7): 95-98.
Velnampy, T. and J.A. Niresh, 2012. The relationship between capital structure & profitability. Global Journal of Management and Business Research, 12(13): 67-74.
Muhammad Nauman Khan , Imran Khokhar (2015). The Effect of Selected Financial Ratios on Profitability: An Empirical Analysis of Listed Firms of Cement Sector in Saudi Arabia. Quarterly Journal of Econometrics Research, 1(1): 1-12. DOI: 10.18488/journal.88/2015.1.1/184.108.40.206
The plinth emergence of infrastructures sector in the Kingdom of Saudi Arabia cardinally hinges upon the growth and development of the Cement industry. The Saudi cement industry is most cost competitive in the world due to availability of raw material and Fuel at very low prices by the government. This has encouraged the researchers to analyze the relationship between profitability and selected financial ratios of cement industry in Saudi Arabia. The research paper makes an endeavor to determine the profitability of listed cement companies in Saudi Arabia with five years accounting period from 2008 to 2012. The paper encompasses six variables, namely, Debt to Equity Ratio (DER), Inventory Turnover Ratio (ITR), Debtors’ Turnover Ratio (DTR), Creditors’ Velocity (CRSV), Total Assets Turnover Ratio (TATR) and Net profit Margin (NPM). Profitability as a dependent variable is exhibited by Net profit Margin (NPM) while the selected ratios DER, ITR, DTR, CRSV, TATR and CRSV are expressed as independent variables. Based on the findings of the study, it is cogently revealed that there is a significant relationship between the three selected ratios and Net Profit Margin (NPM) of cement companies in Saudi Arabia.
This study is one of very few studies conducted on the relationship among different financial ratios and profitability of the companies in Saudi Arabia. The present research investigated the effect of determinants on profitability of cement sector listed companies in Saudi Arabia. Current study concluded that DER, ITR and CRSV have positive effect on the NPM of cement companies.