scholarly journals CEO age, shareholder monitoring, and the organic growth of European firms

2021 ◽  
Author(s):  
Giorgio Barba Navaretti ◽  
Davide Castellani ◽  
Fabio Pieri
Keyword(s):  
Firm Growth ◽  
Corporate Strategy ◽  
Structural Characteristics ◽  
Practical Importance ◽  
Chief Executive ◽  
Concentrated Ownership ◽  
Organic Growth ◽  
Ceo Age ◽  
Using Data

AbstractThe question of why some firms grow faster than others is of high theoretical and practical importance. Beyond a wealth of studies based on stochastic models, firm growth has mostly been explained by looking at the structural characteristics of firms, sectors, and countries. The role of managers’ characteristics in fostering firms’ growth has been explored much less. In this study, we adopt one key characteristic of managers, the age of the chief executive officer (CEO) and examine its relationship with the firm’s organic growth. Using data from a large sample of European manufacturing firms, we find that firms managed by young CEOs grow faster in terms of sales and assets, but not in terms of profitability. These results hold with the inclusion of a large vector of firm and CEO characteristics, and a battery of robustness checks, including issues related to the time horizon and appointment of CEOs, the educational attainment of younger cohorts of managers, and endogeneity. We hypothesize that young CEOs are incentivized to boost firm growth to signal their talent in the managerial market and to secure a longer stream of future compensation benefits. To the extent that firm growth does not translate into higher profitability, this may create an agency problem, due to the divergence of this corporate strategy from shareholders’ targets. In line with this hypothesis, we find that a more concentrated ownership that allows for more effective monitoring moderates the relationship between CEO age and firm growth.

Religiosity at the top: does it interact with accounting expertise to limit real earnings management?

2020 ◽  
Vol 35 (9) ◽  
pp. 1343-1377
Author(s):  
Saeed Rabea Baatwah ◽  
Adel Ali Al-Qadasi ◽  
Abood Mohammad Al-Ebel
Keyword(s):  
Earnings Management ◽  
Ownership Structure ◽  
Audit Committee ◽  
Chief Executive ◽  
Decision Makers ◽  
Real Earnings Management ◽  
Content Type ◽  
Concentrated Ownership ◽  
Accounting Expertise

Purpose Research investigating the association between religiosity and earnings management has concentrated on accruals-based earnings management, relying heavily on society’s religiosity, but it has neglected the interaction between religiosity and formal monitoring mechanisms. This study aims to examine how the religiosity and accounting expertise traits of top leaders are associated with real earnings management (REM) and how they interact to eliminate these practices. Design/methodology/approach Using a sample of 943 year-observations from more religious settings, this paper collects data for four measures of REM, and for religiosity and accounting expertise of audit committee (AC) chair and chief executive officer (CEO). Multivariate regression is used to test the study hypotheses. Findings The findings are consistent with the predictions that religious top leaders are not associated with lower REM, while top leaders with accounting expertise, in some cases, are associated with lower REM. This paper also finds that a leader with religious belief and accounting expertise dramatically lowers REM. These findings are robust under a battery of sensitive analyzes. In an additional analysis, this paper observes the interaction effect between these two traits is strengthened if the board chair is religious, and persists even for larger firms or those with a highly concentrated ownership structure. Originality/value The paper provides evidence that may serve a variety of decision-makers. It is the first to show that the interaction between religiosity and expertise is crucial in curbing REM. It also provides the first evidence for the role of the AC chair in relation to REM.

The Role of Commonality between CEO and Divisional Managers in Internal Capital Markets

2011 ◽  
Vol 46 (3) ◽  
pp. 841-869 ◽  
Author(s):  
José-Miguel Gaspar ◽  
Massimo Massa
Keyword(s):  
Cash Flow ◽  
Firm Value ◽  
Chief Executive ◽  
Lower Sensitivity ◽  
Mutual Trust ◽  
Firm Level ◽  
Using Data ◽  
Reallocation Of Resources ◽  
Higher Sensitivity

AbstractWe study the role played by the informal links, or “connections,” between the chief executive officer (CEO) and the divisional managers of conglomerate organizations. Using data on a large sample of multisegment U.S. corporations from 1996 to 2004, we show that segments run by connected managers receive more investment and exhibit lower sensitivity to cash flow shortfalls (and exhibit higher sensitivity to other segments’ cash flow). At the firm level, having more connected managers presiding over segments with high Tobin’s Q improves resource allocation and increases firm value. These findings are consistent with the hypothesis that the mutual trust associated with connections reduces the need for wasteful reallocation of resources across divisions of conglomerate firms.

Role of the Structural Characteristics of Dendrimers in the Manifestation of the Antiamyloid Properties

INEOS OPEN ◽  
2020 ◽  
Vol 3 ◽  
Author(s):  
S. A. Sorokina ◽  
◽  
Yu. Yu. Stroilova ◽  
V. I. Muronets ◽  
Z. B. Shifrina ◽  
...  
Keyword(s):  
Neurodegenerative Diseases ◽  
Structural Characteristics ◽  
Short Review ◽  
External Factors ◽  
Amyloid Aggregation ◽  
Amyloid Proteins ◽  
Molecular Parameters ◽  
Amyloid Aggregates ◽  
Aggregation Processes

Among the compounds able to efficiently inhibit the amyloid aggregation of proteins and decompose the amyloid aggregates that cause neurodegenerative diseases, of particular interest are dendrimers, which represent individual macromolecules with the hypercrosslinked architectures and given molecular parameters. This short review outlines the peculiarities of the antiamyloid activity of dendrimers and discusses the effect of dendrimer structures and external factors on their antiamyloid properties. The potential of application of dendrimers in further investigations on the aggregation processes of amyloid proteins as the compounds that exhibit the remarkable antiamyloid activity is evaluated.

INOVASI PEMBELAJARAN AKIDAH AKHLAK MENGGUNAKAN METODE ROLE PLAY DALAM MENINGKATKAN PRESTASI BELAJAR SISWA

2018 ◽  
Vol 2 (1) ◽  
pp. 52-63
Author(s):  
Ansori Ansori
Keyword(s):  
Data Reduction ◽  
Role Play ◽  
Learning Goals ◽  
New Paradigm ◽  
Learning Materials ◽  
Analysis Technique ◽  
Flexible Schedule ◽  
Using Data ◽  
Real Action

The use of various methods will greatly help students in achieving learning goals. As role play method is one way mastery of learning materials through the development of imagination and appreciation of students on learning materials. Data collection techniques in this study are observation, interviews, and documentation. To analyze the data in this research using data analysis technique of Miles and Huberman model that is data reduction (Data Reduction), data presentation (Data Display) and conclusion (Conclution Drawing / verification) The findings in this research is innovation of role play method can change paradigm to the new paradigm so that the role of the teacher is more as a facilitator, counselor, consultant, and comrade study Flexible schedule, open as needed Learning directed by students themselves Problem-based, project, real world, real action, and reflection Design and investigation. Computers as tools, and dynamic media presentations.

The role of corporate investment in social responsible practices in the promotion of employees’ organizational citizenship behaviour

2014 ◽  
Author(s):  
Ana Patrícia Duarte ◽  
José Gonçalves das Neves
Keyword(s):  
Job Satisfaction ◽  
Organizational Citizenship ◽  
Economic Uncertainty ◽  
Socially Responsible ◽  
Organizational Survival ◽  
Current Scenario ◽  
Reducing Costs ◽  
Using Data ◽  
Airline Company

In the current scenario of economic uncertainty, where many organizations struggle harder for reducing costs while improving their competitiveness, employees’ organizational citizenship behaviours might have an enhanced importance for organizational survival and success. A model proposing that corporate engagement in internal socially responsible practices enhances employees’ job satisfaction and consequently increases employees’ extra-role behaviours was tested. Using data obtained from a sample of employees from an airline company (n=133), the model was examined and supported. We have therefore concluded that organizations may foster employees’ extra-role behaviours by investing in corporate socially responsible practices that signal corporate concern with employees and promote job satisfaction.

Peranan Ketua Pengurus dan Manajer Dalam Penyusunan dan Penerapan Laporan Keuangan Berbasis SAK ETAP Pada Koperasi di Kota Palembang

2019 ◽  
Vol 14 (2) ◽  
pp. 119
Author(s):  
Riza Syahputera ◽  
Martha Rianty
Keyword(s):  
Data Analysis ◽  
Sampling Technique ◽  
Financial Statements ◽  
Significant Positive Effect ◽  
Analysis Technique ◽  
Regression Test ◽  
Using Data ◽  
The City ◽  
Positive Effect

AbstractThis study aims to determine the effect of the role of the Chairperson and Cooperative Manager in the preparation and application of Financial Statements based on SAK ETAP in cooperatives in the city of Palembang. This research is a quantitative study using data obtained from questionnaires and measured using a Likert scale. The sampling technique used is purposive sampling. The sample used in this study was the Chairperson of the cooperative and the manager of the cooperative in the city of Palembang. The cooperatives studied were 203 cooperatives. The data analysis technique used is multiple linear regression test. The results showed that the role of cooperative leaders and managers had a significant positive effect on the preparation and application of SAK ETAP-based financial statements.Keywords : chairman, manager, SAK ETAP, cooperative

СТРУКТУРА, МОДЕЛИ И СТРАТЕГИИ УЧАСТИЯ ГОРОДСКИХ СООБЩЕСТВ В КОНФЛИКТАХ

2020 ◽  
Vol 15 (2) ◽  
pp. 54
Author(s):  
А. И. Кольба ◽  
Н. В. Кольба
Keyword(s):  
Political Parties ◽  
Urban Communities ◽  
Municipal Government ◽  
Structural Characteristics ◽  
City Government ◽  
Expert Interviews ◽  
Competitive Strategies ◽  
Scientific Publications ◽  
The City

The article describes the structural characteristics of the urban communities of the city of Krasnodar and the related features that impact their participation in urban conflicts. This issue is considered in a number of scientific publications, but there is a need to expand the empirical base of such studies. On the base of expert interviews conducted with both city activists, their counterparty (representatives of the municipal government) and external observers (journalists), the parameters of urban communities functioning in the process of their interaction with other conflict actors are revealed. The communities characteristics such as the predominantly territorial principle of formation, the overlap of online and offline communications in their activities, the presence of a “core” with a relatively low number of permanent participants and others are determined. Their activities are dominated by neighborly and civilian models of participation in conflicts. The possibilities of realizing one’s own interests through political interactions (participation in elections, the activities of representative bodies of power, political parties) are not yet sufficiently understood. Urban communities, as a rule, operate within the framework of conventional forms of participation in solving urgent problems, although in some cases it is possible to use confrontational methods, in particular, protest ones. In this regard, the most often used compromise, with the desire for cooperation, a strategy of behavior in interaction with opponents. The limited activating role of conflicts in the activities of communities has been established. The weak manifestation of the civil and especially political component in their activities determines the preservation of a low level of political subjectivity. This factor restrains the growth of urban communities resources and the possibility of applying competitive strategies in interaction with city government and business.

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