Purpose: The purpose of the study is to examine the effect of operating spread on organizational performances with reference to the listed manufacturing companies in Colombo Stock Exchange. In order to identify the relationship between operating spread and organizational performances, the author used data processed from financial reports of manufacturing companies in Colombo Stock Exchange from 2012 to 2016. Design/methodology/approach: Reformulated financial statement data analysis done using SPSS software, especially correlation and regression analysis. Firms’ performance was measured by ROOA, RNOA and ROE which were depended on Operating Spread. Finding: The result exposed the fact that operating spread positively impact on firm performance, (ROOA, RNOA and ROE). Practical Implications: The article offers insights to manufacturing companies to identify the capacity of debt level and the importance of considering the spread level when making a decision relating to debt capital. Moreover, Invertors can also consider the company spread level when they select a stock to invest. Originality/Value: The article presents significant evidence in terms of its scrupulous approach towards checking the toughness ofresults.

Purpose: The purpose of this study is to examine the effect of income diversification on the financial performance of commercial banks in Kenya. Design/methodology/approach: The study used a sample of 31 commercial banks and panel data for the period 2008-2017. Data was extracted from the individual bank’s financial reports and the Central Bank of Kenya’s bank supervision annual reports. The data was analyzed through descriptive and inferential statistics, while the hypothesis was tested using fixed effect regression based on the results of the Hausman test. Financial performance was measured as return on assets (ROA), while Herfindahl-Hirschman Index (HHI) was used to measure income diversification. The study controlled for firm size, firm age and lending strategy. Findings: The findings indicated that income diversification had a positive and significant effect on banks’ financial performance in Kenya. The control variables had varied effects; firm size had a positive effect, while firm age and lending strategy had a negative effect. Practical implications: The article offers insights to bank managers and the regulator. First managers should consider an optimal level of diversification to compensate for the deteriorating interest revenue. Second, the regulator should relax laws that limit the extent banks can diversify their revenue streams. Originality/value: Unlike previous studies which focused on developed and emerging economies, this study centered on a developing economy, and the findings are consistent with the propositions of the modern portfolio theory.

Aim of the Study: It is aimed to examine the function and practises of the Public Oversight Accounting and Auditing Standards Authority within the context of surveillance concept by explaining the effects of the surveillance concept on accounting and auditing profession. Therefore; evaluating the outputs of the annual analysis of the Public Oversight Accounting and Auditing Standards Authority held on independent auditing institutions and independent auditors by the context of surveillance duty is mentioned within the aim of the study. Methodology of the Study: After explaining the concept of surveillance, substantial information relating the function and practises of the Public Oversight Accounting and Auditing Standards Authority are stated by examining the effects of the surveillance concept on accounting and auditing profession. Hence; the outputs of the analysis on independent auditing institutions and auditors held by the Public Oversight Accounting and Auditing Standards Authority in 2017 are evaluated. Findings of the Study: According to the results of the 2017 Annual Analysis Report held by the Public Oversight Accounting and Auditing Standards Authority; the major matter mostly noticed within the audit is suggested to be the detection of substantial risks besides the lack of auditing procedures applied against the mentioned risks. Importance of the Study: Any study is not detected about the results of the file analysis held by the Public Oversight Accounting and Auditing Standards Authority within the literature. So that; this study is presented as a qualitative evaluation by analyzing file analysis of the Public Oversight Accounting and Auditing Standards Authority in 2017 in the context of affecting independent auditing’s quality by pointing out the findings on matters mostly noticed in the independent auditing. Only 2017 annual report is analyzed in the study since 2018 report of the Public Oversight Accounting and Auditing Standards Authority is not published yet.

Purpose: The purpose of this article is to construct a framework, called fraud evasion triangle, which explains why today’s business environment cannot detect fraud. After identifying the factors that prevent fraud from being detected, radical solutions to fight fraud are proposed for each of these three factors. Design/methodology/approach: A qualitative research approach is selected conducting interviews with certified public accountants, independent auditors and finance officers in different sectors. They ara asked open-ended questions to explain the types of frauds they have witnessed, the reasons for frauds happened, the reasons why frauds could not be prevented and possible measures to prevent frauds. Findings: The findings show that today’s business tools to combat with fraud are not sufficient. Most of the literature and research papers show the reasons of fraud, and don’t explain why fraudulent activities are not prevented. In fact, knowing the motives of fraudsters are not essentials for detecting the fraud. The paper put the obstructive factors of fraud detection into three categories, namely crafty perpetrators, dependent internal auditors, and external audit design. Practical implications: The increasing tendency of fraud is not reversed although regulators put standards, and firms allocate more funds to combat with fraud. The article proposes solutions for each of the three factors of the fraud evasion triangle. Most of the proposed solutions can be easily implemented while some solutions require global consensus and legislation change. Originality/value: This paper explains why it is difficult to detect frauds in a new explanatory framework, and offers radical solutions to fight fraud.

Purpose: The study discussed how cost and character of information, investors’ appreciation of information and the environment synchronized to influence investors preference ordering. It gives insight to the fact that choice of portfolio in investment is not the privy of capital structure and the classical mean-variance efficient analysis theories that see the decision process to be rational. Cost of information, investor characteristics and the environment cannot be treated in isolation but work in tandem for better investment decision. Design/methodology/approach: The Information Driven Efficent Portfolio Model alongside review of the literature were used to analyse how investors bundle of portfolio in a capital structure of a firm, as the dependent variable, is influenced by risk/reward, utility satisfaction, information and its cost of the investor as independent variables. Findings: It is found that there is trade-off between preference ordering (debt and equity) and risk/reward exposure, cost of information as well as information availability of investors in investment decisions. In environments of information asymmetry with uninformed investors in majority, risk is high and preference for debt instrument is equally high. Practicalimplications: Preference ordering,a product of the trade-off, establishes an optional capital structure, but not as determined by management. Investors’ response to the firm’s behaviour promotes the capital structure. Developing the bond market will grow entrepreneurship. Originality/value: The study has characterized; investors and how informed; information design and cost; utility; and investment environment and how they synchronized in responding to behavior in bundling up capitalstructure.

Stale seedbeds are commonly used by organic vegetable farmers to reduce in-season weed density. The primary purpose of this study was to evaluate the efficacy of soil solarization (clear plastic) with subsequent flaming for stale seedbed preparation. A secondary objective was to compare the efficacy of solarization with tarping (black plastic). Solarization is an established weed management practice in warmer climates, but its efficacy in the humid continental Northeast USA was unknown. We hypothesized that solarization during May-June in Maine, USA would increase weed emergence, and could thereby contribute to depletion of the germinable weed seedbank and, with subsequent flaming, creation of an improved stale seedbed. We expected that firming soil with a roller prior to solarization would further increase weed emergence. Across four site-years of replicated field experiments and two on-farm trials we found that, contrary to expectations, 2 weeks of solarization reduced apparent weed emergence (density) in comparison to nonsolarized controls by 83% during treatment, and 78% after 2 weeks of observation following plastic removal and flaming. Rolling did not significantly affect weed density. Soil temperatures were elevated in solarized plots, reaching a maximum of 47${ }^{\circ} \mathrm{C}$ at 5 cm soil depth, compared to 38${ }^{\circ} \mathrm{C}$ in controls. Weed community analyses suggested that solarization might act as an ecological filter limiting some species. Addressing our secondary objective, two replicated field experiments compared the efficacy of solarization with tarping applied for periods of 2, 4, and 6 weeks beginning in July. Across treatment durations, solarization was more effective than tarping in one site-year, but tarping outperformed solarization in the other; this discrepancy may be explained by differences in weed species and soil temperatures between experiments. Overall, solarization and tarping are promising stale seedbed preparation methods for humid continental climates, but more work is needed to compare their relative efficacy.

Soil solarization using clear plastic is a promising weed management strategy for organic farms in the Northeast USA. Based on grower concerns that the practice might negatively affect beneficial soil microbiota, we conducted experiments to measure the effects of 2 and 4 weeks of solarization in a field and a closed greenhouse. Soil microbial communities were assayed by dilution plating on semi-selective agar media. Populations of general bacteria, general fungi, bacilli, and florescent pseudomonads were unaffected by field solarization, but fluorescent pseudomonads were reduced following greenhouse solarization. At plastic removal, soil biological activity was reduced non-significantly in the field and by 45% in the greenhouse. Soil biological activity fluctuated following field solarization, being significantly suppressed at 5 but not 14 days after plastic removal. In the greenhouse, biological activity remained suppressed up to 28 days after plastic removal. Solarization increased available nitrogen in the field and greenhouse. Four weeks of solarization reduced viability of buried weed seeds by 64% in the field and 98% in the greenhouse, indicating that the practice can cause substantial weed seed mortality. Maximum soil temperatures, measured at 10 cm depth under solarization, were 44${ }^{\circ} \mathrm{C}$ in the field and 50${ }^{\circ} \mathrm{C}$ in the greenhouse; temperatures were theoretically sufficient for the reduction of some soil borne pathogens. A subsequent experiment measured the effects of solarization and tarping (black plastic) on soil biological activity. During mulching, biological activity was unaffected by treatment, but 14 days after plastic removal, biological activity was reduced in the solarized treatment as compared with the control. Overall, these results suggest that solarization can deplete the weed seedbank. Although soil biological activity was reduced by solarization, it may bounce back after a period. Greenhouse solarization achieved higher temperatures and was more lethal to weed seeds and some microbiota than field solarization.

In recent years, phase change materials (PCMs) have gained major relevance for their ability to take advantage of indoor/outdoor air temperature differences to store energy. This characteristic of PCMs allows to transfer stored energy to periods of energy demand, thus achieving optimum conditions of comfort and notable energy savings. The present study compared the energy consumption of a traditional façade and a ventilated façade to which large format ceramic tiles covered with PCMs were applied. For this purpose, an office building in the city of Alicante was used as a case study. Salt hydrate PCMs were attached to the slabs, and air was allowed to circulate or not circulate through night and day dampers as passive conditioning, accumulating energy. The energy performance of the building was simulated using the Lider-Calener (HULC) energy certification tool in both scenarios. The building’s energy demand was calculated in its current state and with the ventilated façade with ceramic tiles and PCMs. An energy saving of 5% was obtained.

The fluidization behaviour depends on particle properties such as particle size, sphericity, density and the properties of the fluidizing agent. In this study, the effects of different particle sizes on fluidization behaviour were investigated. Experiments were done by mixing sand particles of mean diameter 293µm (small particle) and 750 µm (large particle). The experiment with 20% small particles and 80% large particles gave a reduction in minimum fluidization velocity of 60.8% compared to the minimum fluidization velocity with only large particles. CPFD simulations were performed using the commercial software barracuda®. There is a good agreement between the results from the experiments and the simulations. The minimum fluidization velocity is also calculated using different theoretical equations based on the average particle size for the mixture. The obtained experimental results were compared with the minimum fluidization velocity calculated using different equations available in the literature. There are significant differences in minimum fluidization velocities obtained from the different empirical equations. The pressure drop profiles for large and small particles follow the trends presented in the literature. The experimental minimum fluidization velocities were found to be 0.46 and 0.092 m/s for the large and small particles respectively.

This work aims at demonstrating the possibility of producing 2-butanol from lignocellulosic biomass through a new thermochemical approach. The production of biobutanol was carried out using different lignocellulosic feedstock through a 3-step process: first the whole lignocellulosic biomass is hydrolyzed under acid catalyst to produce levulinates, then the levulinates go through decarboxylation to produce 2-butanone which is, in a final step, reduced to produce of 2-butanol. The experimental conditions for the first two steps of the process were optimized using the response surface methodology (RSM). The latter could represent an opportunity for the production of economical second-generation butanol without having to go through the classical pathway requiring the production of sugar prior to microbial conversion.

Today several energy saving measures are being taken worldwide. As a component of these, the energy efficiency of the buildings should be increased. Given the high ratio of the existing, ineffective building stock, large-scale retrofit actions are going to be needed to reduce their energy usage. The historical districts and the heritage buildings stand as special part of the above question, as several limitations increase the complexity of their retrofit.

In present paper, the authors are introducing retrofit possibilities for the traditional apartment house type, widespread in the past Austro-Hungarian downtowns. A detailed methodology for complex renovation is divided to three main aspects: energy efficiency, monument protection guidelines and feasibility. By combining the above aspects, optimized renovation scenarios and their cost efficient financing implementation are surveyed.

Results show, that the energy saving and heritage respecting solutions are not economically feasible enough to be appealing for private investors. The retrofit, however, is much needed to increase the life quality of residents, save energy, and protect the unique architectural character, now constantly endangered by demolitions.

The authors suggest solutions for the above problem by creating possible financing scenarios, which can be used as a benchmark for preliminary decision making in case of a planned retrofit.

At present, the production of electrical and heat power uses diesel-generator technology with a limited service life of engines and extremely low efficiency of the expensive fuel used. In this paper, an innovative technology has been considered for the combined electrical and heat power production using the preliminary conversion of diesel fuel into synthesis gas with its subsequent supply to a high temperature electrochemical generator (ECG). Synthesis gas for the operation of the electrochemical generator was produced by air conversion of motor diesel fuels in a catalytic burner reactor. On the basis of heat balances of the burner, ECG and waste-heat boiler-utilizer, electrical efficiency of the solid oxide fuel cells’ (SOFC) battery, chemical efficiency of the burner, the temperature at the SOFC anode, the EMF of the planar cell, a portion of hydrogen oxidized at the SOFC anode, specific consumption of diesel fuel for the production of electrical and heat power were calculated. Specific consumption of diesel fuel for the production of electrical and heat power was found to be equal to 114 g/kWh (162 g r.f./kW·h) and 31.7 kg/GJ (45.1 kg r.f./GJ, 189 kg r.f./ Gcal), respectively. Specific fuel consumption is similar to an up-to-date CHP and is significantly lower than the consumption of modern diesel-electric stations of equal power.

The article presents the results of a study of structural changes in the energy sector serving digital technologies for the urban environment of the future that is being created now. The study considers country-specific factors and problems of ensuring the sustainability of heat and power supply. The authors look at the priority areas of a new phase of electrification aimed at the development of advanced energy-saving smart technologies, electric transport, electric cars and appropriate energy and utility infrastructure. The case is studied of developing engineering, technical, organizational and economic solutions when overhauling the heat supply system in a ‘smart’ residential district of Yekaterinburg, one of Russia’s megalopolises, that is being designed and constructed on the basis of the principles of intelligent engineering infrastructure.

The European Union aims to ensure that investment in energy efficiency measures is cost-effective. Thus, the minimum energy performance requirements of buildings must follow the so-called cost-optimal levels. It is known that the impact of a specific measure on the energy performance is affected by others measures when implemented simultaneously, influencing its profitability. for this reason, the profitability of a given package of measures cannot result from the simple sum of potential benefits of each measure. consequently, to define a cost-optimal solution it is needed to run a great amount of combinations, implying an expensive computational effort. In order to help with the selection of the energy systems, this work proposes a simplified method for selecting heating and domestic hot water systems as a function of the following variables: initial investment, maintenance cost, energy needs and cost, and efficiency of energy systems. The proposed method is user-friendly and can assist various stakeholders: policy makers, energy experts, suppliers of products and services and building owners.

Our aim with this study is to delve into the perception of Maltese nationals on bancassurance to establish the drivers which are influencing the purchase of bancassurance and whether these factors can be used by banks to positively impact Maltese nationals’ perception of bancassurance and hence increase their sales and revenues. In order to establish the perception of Maltese nationals on bancassurance, we applied three areas of Customer Perception Theory namely 1) self-perception 2) price perception and 3) benefit/risk perception. To establish the perception of Maltese nationals on bancassurance, the whole population of Maltese nationals was taken into consideration from which a sample of 384 people was taken. In order to carry out the survey, the authors used questionnaires which included a number of demographic questions. The authors also included a number of statements which were divided into the three sections of the Customer Perception Theory. For these statements, the authors used a five point Likert scale ranging from strongly disagree to strongly agree where the participants had to rate the statements according to their level of agreement. The authors also included a comment box to allow the participants to express themselves. The study revealed that various factors are stopping Maltese nationals from purchasing insurance products from banks. Advertisements are not motivating Maltese nationals to purchase insurance products from banks, however they do trust banks and hence they might decide to purchase insurance products from them. The uncertainty of Maltese nationals on the premium charged and whether the costs are reduced when purchasing insurance products from banks shows the lack of knowledge amongst Maltese nationals on bancassurance. On the other hand, the idea of a ‘one-stop-shop’ motivates Maltese nationals to purchase insurance products from banks. This study can serve as guidance for local banks, which are engaged in bancassurance as well as to those banks who intend to engage in bancassurance in the future. This is because this study highlights the factors, which are stopping Maltese nationals from purchasing insurance products from banks. The two main sectors in the financial services industry, which play an important role in the Maltese economy, are the banking and the insurance sectors (Finance Malta, 2018). As far as the authors are aware, this study of the perception of Maltese nationals on bancassurance is the first of its kind conducted in Malta. Hence, other researchers may use Malta as a case study to act as a model to transpose the findings to larger countries.

In Belgium and The Netherlands, bread wheat (Triticum aestivum L.) is getting attention within a growing movement looking for more sustainability of wheat cropping and breadmaking. The few varieties available are pure lines that do not match the wide range of environments and organic farming practices, so that yields and milling quality are often disappointing. Composite Cross Populations (CCP) have been created with the idea of evolutionary plant breeding through on-farm mass selection and seed saving. In 2015–2016, one such CCP of winter wheat was cropped side by side with a pure line variety in four organic farms with different wheat cropping practices, as a first step to answer some of the concerns arising from farmers’ networks we work with. Seeding rates ranged from the standard high to the very low ones practiced under the System of Wheat Intensification (SWI). Multivariate data analysis confirmed greater differentiation of the CCP both compared with pure line varieties and within populations on farms where inter-plant competition was less intense. Low seeding rates thus seem to enhance the phenotypic expression potential of a CCP, yet this is a neglected fact among participatory plant breeders. Since both CCP and SWI have great potential for ecological intensification within organic farming, we argue that more work is needed on finding new ways of combining innovation in farming practices and on-farm plant breeding, which also implies new ways of organising research.

The study attempts to establish a theoretical basis for the interaction between financial risk management and value of the firm among private capital firms.

Design and Methodology: The study was based on a theoretical review of the interaction between financial risk management and value of the firm focusing on the applicability of agency theory, trade-off theory and credit metrics model in anchoring capital management risk, liquidity risk and credit risk

Findings: The study shows that although private equity firms are not publicly listed, they face financial risks associated with defaults on loans advanced, volatility of interest rates, liquidity management and capital management. The agency theory explains the role of capital management risk and liquidity risk by incurring agency costs to deter the management from engaging in activities hindering achievement of wealth maximization goal. Similarly, companies balance between threat of bankruptcy and tax benefits of debt by finding an understanding between the advantages and the disadvantages that come with debt as outlined in the trade-off theory while credit metrics model help firms to quantify credit risk on loans, fixed income instruments, commercial contracts.

Practical Implications: Private equity firms must constantly be engaged in risk mitigation activities by extensively evaluating their financial, legal and business environments. The management of private equity companies must also always try to balance between the threat of bankruptcy and the tax benefits of debt in the formulation of capital structure by finding a compromise between the benefits and costs of raising debt. The management should also carefully consider credit risks during the credit appraisal and credit awarding process by using appropriate credit appraisal models such as credit metrics model.

The Significance of the Study: The conclusions reached in this study significantly impacts the perspective of the management with regard to risk management particularly in the banking sector which is predominantly adversely affected by credit risk, liquidity risk and capital management risks. Consequently the management would be in a better position to manage their risks using appropriate models and improve organizational efficiency and performance.

Purpose: Mergers and acquisitions are forms of corporate restructuring. This study was conducted to examine the firm's performance after the company carried out a merger and/or acquisition during the period 2010-2014. Design and Methodology: The variables used in this study are financial ratios such as Gross profit margin ratio, Operating profit margin ratio, Net profit margin ratio, Return on capital employed, Earning per share, Return on assets, Return on equity and Return on net worth. This study also focuses on how the quality of firm earnings changed following a merger and/or acquisitions to know whether the changes in firm profit will also affect the quality of profit. The sample was selected using a non-probability purposive sampling method. Data is analyzed using a descriptive statistical test, outlier test, normality test and hypothesis test (t-test). This study used paired sample t-test to analyze two different paired samples using the SPSS program. Findings: The results from this study show that the firm’s performance has decreased after mergers and acquisitions, but the quality of earnings after mergers and acquisitions have insignificant increases. Practical Implications: Management must discipline themselves to ensure good corporate governance, develop a good approach to the management of assets and liabilities, and pay attention to the knowledge transfer and technology transfer that the company gets for the benefit of the company to be able achieve the synergy of acquisition in order to increase profitability. The Significance of The Study: Statistical evidence found that company profitability will be declining significantly after a merger and acquisition occurred. But separately, this decline also makes the profits that are generated of better quality. This also means that the decrease of profitability is also increasing the better quality of their earnings.

Amaç: Bu çalışmanın amacı işletmelerdeki iç denetim etkinlik düzeyi ile kurumsal yönetim düzeyi arasındaki ilişkinin tespit edilmesidir. Tasarım ve Metodoloji: Verileri toplamak için bir anket çalışması yapılmıştır. Veriler yöneticilerle yapılan doğrudan görüşmeler, çevrimiçi gönderme, telefon ile önceden iş adamı derneklerinden alınan adreslerin aranarak firmalara anketin ulaştırılması şeklinde toplanmıştır. Bu çalışmada modelin hipotetik ilişkisini test etmek için PLS-SEM yöntemi kullanılmıştı. Bulgular: Çalışmada iki adet hipotez geliştirilerek test edilmiştir. İşletmelerde iç denetim sisteminin etkinliği arttıkça. Objektiflik, şeffaflık ve resmiyet düzeyinin yükseldiği tespit edilmiştir. Uygulamaya Etkileri: Son yıllarda işletmelerin çokuluslu hale gelmesi, halka açılarak sermaye gücünü artırma istekleri farklı çıkar gruplarının işletmeler üzerindeki etkisini ve beklentilerini arttırmıştır. İşletmelerin bu çıkar grupları tarafından kontrol edilmek istenmesi ile birlikte şeffaflık, hesap verilebilirlik, güvenilirlik kavramları önemli bir kriter haline gelmiştir. Özellikle uluslararası çapta yaşanan işletme skandalları ile birlikte kurumsal yönetim kavramı hayata geçmiş işletmelerin hesap verilebilirliği noktasında uluslararası bir kriter olarak kullanılmaya başlanmıştır. İşletmelerde kurumsal yönetim ilkelerinin etkinliğinin artırılmasında iç denetim önemli bir fonksiyon icra etmektedir. Gelecekteki skandallardan kaçınmak için, bu çalışma iç denetim sistemi ile kurumsal yönetim arasındaki ilişkiyi incelemektedir. Çalışmanın Önemi: Bu çalışmanın bulgularının, ticari organizasyonlardaki yönetsel sorunları azaltarak kurumsal yönetimin geliştirilmesine katkı sağlamasını amaçlıyoruz. Ortaya konan bulguların yönetim kurulu üyeleri, yöneticiler ve işletme ile ilgili çeşitli etkileri vardır. Kurumsal yönetim mekanizmalarının oluşturulması ve sorunlarının çözülmesi kurulların öncelikli sorumlulukları arasındadır. Bunu sağlamak için yöneticiler, bağımsız denetim yoluyla dış kontrolü davet etmeden önce iç raporlama prosedürleri ve iç kontrol ve izleme sistemleri oluşturmalıdır.

Purpose: In this paper, an update is provided on the on-going debate between audit retention and audit rotation in different parts of the world. Design and Methodology: This update is provided based on a systematic review of recent scholarship that have explored the supposed benefits or drawbacks of audit rotation amidst a climate of declining confidence in audited financial statements due to a series of financial scandals over the last few years. 28 articles were examined along four key categories, including the geographical distribution of the articles, article type, research themes and research methods. Findings: The findings of the review revealed that the debate between audit rotation and retention has no end in sight with empirical studies finding conflicting results regarding the merits or demerits of adopting a mandatory audit rotation regime in various countries. A recurring message amongst many of the studies is that perhaps time has come for the auditing profession to seek an alternative solution for maintain auditor independence. Practical Implications: A recurring message amongst many of the studies is that perhaps time has come for the auditing profession to seek an alternative solution for maintaining auditor independence. The Significance of The Study: Thisstudyrevealsthatauditor independence cannot be obtained merely by regulation. This is evidenced by the fact that audit-related financial scandals have continued to occur over this long period of time, despite the adoption of mandatory audit rotation in many parts of the world.

Purpose: Kosovo’s legal framework requires from businesses to implement IFRS when preparing financial statements. Based on this, the study aims to reflect the current situation regarding the recognition of IFRS by the accountants and the level of their implementation when preparing the financial statements, their attitudes and opinions regarding the effect they have on the quality and relevance of financial reporting for business directors and for all users of accounting information. Design and Methodology: The study was carried out with data collected from 264 businesses with turnover of over 1 million € selected as a research sample and processed through descriptive statistics and the quantitative analytical method. The design of the study involves two essential steps. The first step was a secondary data survey whose purpose was to research and analyze the framework of financial reporting of businesses. Meanwhile, the second step is the primary research conducted through questionnaires filled out in businesses and addressed to accountants (one employee in each business, a total of 264 accountants interviewed). Findings: The research results showed Kosovo's economic reality as far as financial reporting is concerned, which implies that businesses prepare accounting information according to the IFRS and publish it through publicly available financial statements under the regulatory requirements for accounting, financial reporting and auditing. In addition, the study highlights the level of awareness of accountants that the IFRS affect the quality and relevance of accounting information that will be used by third parties for economic decision- making. Practical Implications: Recognition of IFRS by accountants and their full implementation provides a qualitative and transparent financial information, useful to all users of that information, as well as to business executives. Unification of accounting language exceeds group interests by penetrating the capital market in and out of the country. The Significance of The tudy: This study presents a clear picture of the level of implementation of IFRS in Kosovo and the identification of factors affecting this level. In this respect, the study has raised the importance of enforcing standards by professionals, contributing to the improvement of financial reporting.

Purpose: The purpose of this study is to analyze the factors that influence the main performance of commercial banks in the Republic of Kosovo. In order to assess the main performance of commercial banks, the authors used side data processed from financial reports of commercial banks as the main segment of Kosovo financial sector over a decade (2008-2018). Design/methodology/approach: Data processing for financial reports included in the econometric analysis is done using the STATA software program, specifically using linear regression, fixed effect, random effect, Hausman Taylor Regression and GMM Model. Assuming that the profitability of a commercial bank is a key factor in measuring its financial performance, then internal factors that have an impact on financial performance are taken as econometric variables. The return on assets (ROA) has been taken as a subordinated variable, while the independent variables are: bank capital adequacy, bank liquidity rate, and operational efficiency of the bank. Findings: The results show that the profitability of commercial banks in Kosovo has a positive impact on capital adequacy and liquidity of commercial banks, while the commercial banks' operational efficiency has a negative impact. Practical implications: The article offers insights to commercial banks who should intensify their efforts to increase efficiency in rational management with operational and administrative costs, as well as, adapt the business model to market needs. Originality/value: The article presents significant pragmatic evidence in terms of its meticulous approach towards checking the robustness of results.

The principal objective of this study is to analyse the impact of macroeconomic factors on the level of deposits in the banking sector in Western Balkan countries. The impact of macroeconomic factors on the levels of deposits in the countries mentioned will be analyzed through econometric models. With reference to the applied models, the dependent variable will be the level of deposits, whilst the independent variables will be the interest rate on deposits, marginal rates, GDP, inflation and broad money. In order to achieve the research target set, the research will be based on secondary data which will be analyzed through the STATA program. The interest rate plays a key role in banking systems because it determines the benefits of the difference between the interest rate on loans and the interest rate on deposits. However, exposure to risk is often present because banks provide long-term loans financed by short-term deposits, and this involves the socalled interest rate risk. One of the most important channels of monetary policy transmission in an economy is interest rates. Macroeconomic factors and the financial sector structure in the economy of a country have a significant impact on determining the interest rate elevation. The analyzed period (2005-2017) is a compelling period for competent conclusions.