Sami Al Kharusi

Using Technique for Order Performance by Similarity to Ideal Solutions (TOPSIS) approach for the data from 2011 to 2015, the authors investigate the financial performance of 16 different financial institutions in Oman that include nine commercial banks, three specialized banks, two investment companies, and two finance companies. They find that the one investment company, Dhofar International Development and Investment Holding Co., was more efficient in 2015 and 2011. Moreover, Oman Housing Bank was more efficient in 2013 and 2014, while Ahli Bank was more efficient in the year 2012. In contrast, Bank Muscat that has the largest total assets was ranked number 16 for the years 2013, 2014 and 2015. As a result of Spearman’s Rho (Rank-Order) Correlation, all ranked results are related to other years. If a bank is at placement in level, it can be affected by year before or year after. But Oman banks’ correlations shows that there are 2 different periods as effecting one year to the other.

Keywords: financial institutions performance, TOPSIS, emerging markets, efficiency, decision making criteria.
JEL Classification: G21, G23, L25

Public and private education can unlock different doors and help to flood the country with a rising power, sunlight and sustainable development. Hence, this paper argued that there is a need to sustain both public and private higher education. Financial difficulties restrict private higher education from balancing their budget and maintain a balance between a quality education and maximization of shareholders wealth. This paper outlines and analyzes a critical business model for higher education institutions, Dhofar University and Majan College, both of which are publicly traded in Muscat Securities Market. Both the educational institutions are critically examined from profitability, liquidity, long term solvency and asset management perspective using appropriate financial ratios. Five year forecasts of financial statements up to 2021 are estimated to evaluate the financial stability of the two educational institutions. The paper uses Monte Carlo simulation technique to examine the issue of financial sustainability. Overall the finding shows positive financial results for Majan College compared to Dhofar University. The key take away from the analysis is that educational institutions should be funded primarily by equity and not by debt to survive, sustain and provide high quality education.