Short-term Capacity Planning in Manufacturing Companies with a Decentralized Organization

Author(s):  
Peter Letmathe
2020 ◽  
Vol 10 (1) ◽  
pp. 65
Author(s):  
Abu Hasan Ahmad ◽  
Maria Adventia Mentari Mayang Cardicna

This study aims to test the pecking order theory by looking at the level of cash flow sensitivity as a source of internal financing for all types of external financing (debt and equity). This testing also considering the financial constraint variable as moderation. The data used are the financial statements of manufacturing companies listed on the Indonesia Stock Exchange in 2014 - 2018. The dependent variable is all types of external financing (debt and equity). Debt financing is divided into two forms, short-term debt financing and long-term debt financing. While the independent variable is cash flow. The results obtained is that cash flow does not substitute all types of external financing, and the highest cash flow sensitivity occurs in short-term debt financing. The next result is that financial constraint strengthen the sensitivity of cash flow to debt and equity financing


2014 ◽  
Vol 4 (2) ◽  
pp. 153-167 ◽  
Author(s):  
Jianfang Zhou ◽  
Jingjing Wang ◽  
Jianping Ding

Purpose – After loan interest rate upper limit deregulation in October 2004, the financing environment in China changed dramatically, and the banks were eligible for risk compensation. The purpose of this paper is to focus on the influence of the loan interest rate liberalization on firms’ loan maturity structure. Design/methodology/approach – Based on Rajan's (1992) model, the authors constructed a trade-off model of how the banks choose long-term and short-term loans scales, and further analyzed banks’ loan term decisions under the loan interest rate upper limit deregulation or collateral cases. Then the authors used an unbalanced panel data set of 586 Chinese listed manufacturing companies and 9,376 observations during the period 1996-2011 to testify the theoretical conclusion. Furthermore, the authors studied the effect on firms with different characteristics of ownership or scale. Findings – The results show that the loan interest rate liberalization significantly decreases the private companies’ reliance on short-term loans and increases sensitivity to interest rates of state-owned companies’ long-term loans. But the results also show that the companies’ ownership still plays a key role on the long-term loans availability. When monetary policy tightened, small companies still have to borrow short-term loans for long-term purposes. As the bank industry is still dominated by state-owned banks and the deposit interest rate has upper limits, the effect of the loan interest rate liberalization on easing long-term credit constraints is limited. Originality/value – From a new perspective, the content and findings of this paper contribute to the study of the effect of the interest rate liberalization on China economy.


2021 ◽  
pp. 258-266
Author(s):  
Manuel Schneckenreither ◽  
Sebastian Windmueller ◽  
Stefan Haeussler

Transport ◽  
2005 ◽  
Vol 20 (6) ◽  
pp. 236-239 ◽  
Author(s):  
Andrius Jaržemskis

The article presents the model of allotments booking for trucks or containers in shuttle trains. This model could be used in practice if railway companies sale free allotments in rolling stock for forwarders. This paper proposes a stochastic dynamic programming model of a short‐term capacity planning model for necessary allotment. The allotment could be acquired by freight forwarders many months ahead on a contract basis, but usually the forecast demand is unreliable. The preplanning of allotment for transport units is needed when the date draws nearer to the train departure time. The presented model evaluates the optimal cost policy based on economic trade‐off between the cost of backlogged shipment and the cost of acquiring additional allotment.


2017 ◽  
Vol 15 (3) ◽  
pp. 276-284
Author(s):  
Syamsudin Syamsudin ◽  
Erna Setiany ◽  
Sajidah Sajidah

This study aims to analyze the effect of gender diversity in both the Board of Commissioners and Board of Directors, as well as the effect of education background of the President Commissioner on the firm value. Gender diversity is measured from the proportion of women in Board of Commissioners and Board of Directors, while the education background is measured by the education background of the President Commissioner. In this research, the firm value is measured by Tobins Q. The sample used in this study consist of 70 manufacturing companies listed in Indonesian Stock Exchange in the year 2012. This study employs multiple linear regression to draw the research results. The analysis results show that gender diversity in both the Board of Commissioners and Board of Directors significantly affects firm value. On the contrary, the education background of the President Commissioner does not affect firm value. This result support the argument that diversity of boards will, through various ways, affect firm financial value in the long and short term.


2020 ◽  
Vol 16 (1) ◽  
pp. 19
Author(s):  
Muhammad Jafar Shodiq

<p>In the current global warming situation, disclosure of emissions in annual reports is a necessity. Legitimacy from the public is a strategic key to future success. The bottom line of disclosing emissions in annual reports is global sustainability. However, there are doubts about the correlation between disclosure of emissions and future success. If the company does not have a CSR mission, the disclosure of emissions is only of short-term interest and is not correlated with global sustainability. This study reveals the characteristics of successful and non-successful companies associated with the CSR mission and disclosure of carbon emissions in the annual report. By using a sample of 114 manufacturing companies listed on the Indonesia Stock Exchange, this study shows that successful companies are characterized by having a strong CSR mission and commitment to disclosing emissions.</p>


2019 ◽  
Vol 2 (1) ◽  
pp. 39-48
Author(s):  
Shaharudin Jakpar ◽  
Michael Tinggi ◽  
YU Qi Wong ◽  
Norshamsiah Samsudin

This paper seeks to provide evidence on the impact of firm’s leverage on its stock return. The analysis was implemented on the 30 manufacturing companies listed on Bursa Malaysia. The selected companies were estimated from the annual financial reports covering a period of five years (2011-2015). The random effects GLS regression was employed in carrying out this analysis. The result of the study reveals that only one variable which is short term debt has enough evidence and significant negatively related to stock return. However, other variables such as long-term debt, total debt to equity and firm size are found to be irrelevant with stock return.


2021 ◽  
Vol 11 (2) ◽  
pp. 222-232
Author(s):  
Eka Nuraini Rachmawati ◽  
Restu Hayati ◽  
Linda Hetri Suriyanti

Anomaly occurs when the return earned is not in accordance with the value it should be and makes the capital market inefficient. The anomalies tested were the day of The Week Effect, Week Four Effect, January Effect and Sell In May And Go Away. The population used is 144 Manufacturing stocks listed on the Indonesia Stock Exchange. The data analysis technique used to prove the occurrence of anomalies is the Z-value large sample difference test. This study examines anomalies not only in the short term, but also in the long term. The research results prove that there are no anomalies in manufacturing companies in Indonesia in the long run. In the short term, anomalies can occur, namely the sell in May effect in 2015 and the January Effect in 2017 on manufacturing companies on the Indonesia Stock Exchange.


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