Separation of ownership and control for Chinese listed firms: Effect on the cost of debt and the moderating role of bank competition

2020 ◽  
Vol 67 ◽  
pp. 101179 ◽  
Author(s):  
Shuangyan Li ◽  
Huan Fu ◽  
Jun Wen ◽  
Chun-Ping Chang
Keyword(s):  
Cost Of Debt ◽  
Bank Competition ◽  
Listed Firms ◽  
The Cost ◽  
And Control ◽  
Moderating Role

Bank competition and the cost of debt: the role of state ownership and firm size

2017 ◽  
Vol 25 (13) ◽  
pp. 951-957 ◽  
Author(s):  
Peisen Liu ◽  
Houjian Li ◽  
Shoujun Huang
Keyword(s):  
Firm Size ◽  
State Ownership ◽  
Cost Of Debt ◽  
Bank Competition ◽  
The Cost

scholarly journals The Influence of the Antecedents of SCQRM Implementation on Organizational Performance with the Moderating Role of Organizational Culture in the Indonesian Navy

2021 ◽  
Vol 21 (1) ◽  
pp. 81
Author(s):  
Yohannes Enggar Riyadi ◽  
Lucy Warsindah ◽  
Agus Adriyanto ◽  
Dangan Waluyo
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Organizational Performance ◽  
Strategic Leadership ◽  
Control Mechanisms ◽  
Information Control ◽  
And Control ◽  
The Relationship ◽  
Moderating Role

<p><em>This study aims to determine the effect of the antecedents of Supply chain quality risk management (SCQRM) implementation on organizational performance with the moderating role of organizational culture in the Indonesian Navy. Based on data from questionnaire survey data totaling 260 Indonesian Navy officers, the SCQRM theory model is proposed and the structural equation model is used to test the proposed hypothesis. The results show that strategic leadership, information, and control mechanisms are significant antecedents of SCQRM implementation. Furthermore, strategic leadership and information significantly contribute to organizational performance. An interesting finding is that control mechanisms do not have a direct impact on organizational performance, but they do contribute indirectly to organizational performance mediated by SCQRM implementation. Also, SCQRM implementation significantly contributes to organizational performance and the moderating effect of organizational culture strengthens the relationship between SCQRM implementation and organizational performance. This study focuses on the concept and implementation of SCQRM in Indonesian Navy logistics with the role of strategic leadership, information, control mechanisms, and organizational culture to improve organizational performance using single respondents and expert perceptions, namely Indonesian Navy Officers. The managerial implications suggest that complementary benefits arise from the adoption of a more holistic approach to the management of supply chain quality risk at the organizational level with</em><em> </em><em>supported the role of strategic leadership, information, control mechanisms, and organizational culture will improve organizational performance. Three contributions to science in the development of SCQRM theory. <strong>First</strong>, this study develops an SCQRM theoretical model with three unique dimensions (supplier development, risk management integration, and proactive product recall). <strong>Second</strong>, this study provides a new perfection of how the complementarity system of SCQRM is operated to improve organizational performance. Moreover, the findings imply that a successful SCQRM implementation is built on a complementarity power in risk management resources and routines. The multiple manifestations of the three SCQRM dimensions are all driven by a cohesive, yet unobserved synergy, which also forms one of the competencies of the organization. <strong>Third</strong>, this study also provides a new perfection on the role of strategic leadership, information and control mechanisms as antecedents of SCQRM implementation, and the moderating role of organizational culture that strengthens the relationship between SCQRM implementation and organizational performance</em><em>.   </em><strong></strong></p>

The Effect of Profitability and Financial Leverage on Cost of Debt Moderated Earnings Management

2021 ◽  
Vol 26 (1) ◽  
pp. 35
Author(s):  
Herman Ruslim, Renny Muspyta
Keyword(s):  
Earnings Management ◽  
Cost Of Debt ◽  
Manufacturing Companies ◽  
Financial Leverage ◽  
Publicly Traded ◽  
Return On Equity ◽  
Publicly Traded Companies ◽  
Negative Effect ◽  
The Cost

This study aims to determine the effect of profitability and Financial Leverage on the Cost of Debt, and the role of Earnings Management as a moderating variable. In this study, profitability is measured by the ratio of return on equity, financial leverage is measured by the proxy debt ratio, earnings management as measured by discretionary accruals, and cost of debt is measured by the ratio of interest expense divided by the average total debt. The population in this study are publicly traded companies listed on the IDX, and the sample used is manufacturing companies listed on the IDX for the 2016-2019 period. Based on the purposive sampling method, the samples obtained were 69 manufacturing companies and 276 observations. The results showed that profitability has a negative effect on the cost of debt, while financial leverage has no effect on the cost of debt, earnings management cannot weaken the negative effect of profitability on the cost of debt and earnings management cannot weaken the negative effect of financial leverage on the cost of debt.

scholarly journals Debt financing and firm performance: The moderating role of board independence

2020 ◽  
Vol 45 (3) ◽  
pp. 141-151
Author(s):  
Hanh Song Thi Pham ◽  
Duy Thanh Nguyen
Keyword(s):  
Emerging Market ◽  
Debt Financing ◽  
Board Independence ◽  
Data Set ◽  
Listed Firms ◽  
Negative Effect ◽  
And Performance ◽  
The Relationship ◽  
Moderating Role

This article investigates the moderating role of board independence in the relationship between debt financing and performance of emerging market firms. We have used an empirical model in which the firm’s accounting profitability is a dependent variable and the independent variables are debt financing, board independence, the interaction variable made of debt financing and board independence as well as various control variables. Our analysis is based on a panel data set of 300 listed firms in Vietnam between 2013 and 2017. Our study finds that debt financing has a significantly negative effect and that board independence reduces the adverse impact of debt financing on accounting profitability. Our results are consistent across different estimation models and methods.

scholarly journals Motivational and Control Mechanisms Underlying Adolescent versus Adult Alcohol Use

NeuroSci ◽  
2020 ◽  
Vol 1 (1) ◽  
pp. 44-58
Author(s):  
Janna Cousijn ◽  
Kayla H. Green ◽  
Maaike Labots ◽  
Louk J. M. J. Vanderschuren ◽  
J. Leon Kenemans ◽  
...  
Keyword(s):  
Alcohol Use ◽  
Behavioral Control ◽  
Age Groups ◽  
Control Measures ◽  
Drinking Motives ◽  
Control Mechanisms ◽  
Interference Control ◽  
And Control ◽  
Moderating Role

Increased motivation towards alcohol use and suboptimal behavioral control are suggested to predispose adolescents to alcohol use disorders (AUDs). Paradoxically however, most adolescent AUDs resolve over time without any formal intervention, suggesting adolescent resilience to AUDs. Importantly, studies directly comparing adolescent and adult alcohol use are largely missing. We therefore aimed to unravel the moderating role of age in the relation between alcohol use and motivational and control-related cognitive processes in 45 adolescent drinkers compared to 45 adults. We found that enhancement drinking motives and impulsivity related positively to alcohol use. Although enhancement drinking motives and impulsivity were higher in adolescents, the strength of the relation between these measures and alcohol use did not differ between age groups. None of the alcohol use-related motivational measures (i.e., craving, attentional bias, and approach bias) and behavioral control measures (i.e., interference control, risky decision making, and working-memory) were associated with alcohol use or differed between age groups. These findings support the role of impulsivity and affective sensitivity in adolescent drinking but question the moderating role of age therein. The current study contributes towards understanding the role of age in the relation between alcohol use and cognition.

scholarly journals The Effect Of IFRS Non-Audit Consulting Services On Cost Of Debt: Evidence From Korea

2015 ◽  
Vol 31 (5) ◽  
pp. 1889
Author(s):  
Seung Uk Choi ◽  
Woo Jae Lee
Keyword(s):  
Interest Rate ◽  
Financial Reporting ◽  
Credit Rating ◽  
Financial Statements ◽  
Cost Of Debt ◽  
Reporting Standards ◽  
Listed Firms ◽  
Financial Reporting Standards ◽  
Consulting Services ◽  
The Cost

Korean listed firms have been required to disclose their financial statements based on the International Financial Reporting Standards (IFRS) since 2011. Using pre- and post-IFRS reporting periods, we investigate the relation between IFRS non-audit consulting services provided by incumbent auditor and the cost of debt of its client for firms in the Korean Stock Market. We find evidence that IFRS non-audit consulting services are related to the decrease in cost of debt only during the post-IFRS period. In particular, receiving non-audit consulting services is positively associated with a clients bond credit rating and negatively associated with interest rate. The result generally holds when we use alternative proxies of IFRS non-audit consulting services. Finally, our results are robust to potential endogeneity issues in selecting non-audit services.

scholarly journals Differentiation Strategy, CSR, And Real Activities Earnings Management: Evidence From Korea

2017 ◽  
Vol 33 (4) ◽  
pp. 667 ◽  
Author(s):  
Sungbin Chun ◽  
Eunho Cho
Keyword(s):  
Earnings Management ◽  
Negative Relationship ◽  
Synergy Effect ◽  
Listed Firms ◽  
Differentiation Strategy ◽  
Sensitivity Tests ◽  
Corporate Social ◽  
The Relationship ◽  
Moderating Role

We empirically investigate whether a differentiation strategy constrains real activities earnings management (RAEM). Further, considering corporate social responsibility (CSR) activities are a popular tool of differentiation strategy, we examine whether interactive synergy between CSR activities and the differentiation strategy strengthens the negative relationship between differentiation strategy and RAEM. Using a sample of 659 firm-year observations of Korean manufacturing listed firms during 2005-2010, we find that differentiation strategy is negatively associated with RAEM, suggesting that firms pursuing a differentiation strategy are likely to refrain from managing earnings using RAEM that goes against their strategy. We also observe that interactive synergy between differentiation and CSR strengthens the negative relationship between differentiation strategy and RAEM, implying that synergy effect between CSR and differentiation strategy even more constrains RAEM that is in conflict with both CSR and differentiation strategy. These findings are robust after we perform sensitivity tests. This study contributes to the literature by providing the first evidence on the relationship between differentiation strategy and RAEM and the moderating role of CSR activities on the relationship.

scholarly journals Motivational and Control Mechanisms Underlying Adolescent versus Adult Alcohol Use

2020 ◽  
Author(s):  
Janna Cousijn ◽  
Kayla H. Green ◽  
Maaike Labots ◽  
Louk J.M.J. Vanderschuren ◽  
J. Leon Kenemans ◽  
...  
Keyword(s):  
Alcohol Use ◽  
Age Groups ◽  
Control Measures ◽  
Drinking Motives ◽  
Control Mechanisms ◽  
Interference Control ◽  
Risky Decision ◽  
And Control ◽  
Moderating Role

Increased motivation towards alcohol use and suboptimal behavioural control are suggested to predispose adolescents to Alcohol Use Disorders (AUDs). Paradoxically however, most adolescent AUDs resolve over time without any formal intervention, suggesting adolescent resilience to AUDs. Importantly, studies directly comparing adolescent and adult alcohol use are largely missing. We therefore aimed to unravel the moderating role of age in the relation between alcohol use and motivational and control-related cognitive processes in 45 adolescent drinkers compared to 45 adults. The results showed that enhancement drinking motives and impulsivity related positively to alcohol use. Although enhancement drinking motives and impulsivity were higher in adolescents, the strength of the relation between these measures and alcohol use did not differ between age groups. None of the alcohol use-related motivational measures (i.e., craving, attentional bias, approach bias) and behavioral control measures (i.e., interference control, risky decision making, working-memory) were associated with alcohol use or differed between age groups. These findings support the role of impulsivity and affective sensitivity in adolescent drinking, but question the moderating role of age therein. The current study contributes towards understanding the role of age in the relation between alcohol use and cognition.

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