Fractal analysis and the relationship between efficiency of capital market indices and COVID-19 in Iran

In this study, it was aimed to put forward the perception differences of banks, one of the most important tool of the capital market which is a political tool to develop financial improvement on owners and managers of firms. The data was collected by means of face to face meetings with the managers of 520 companies from manufacturing, trading and service sectors, randomly selected from Adana, Mersin and Gaziantep provinces. The relationship between the perception of banking services and the number of monthly transactions and provinces with the banks with which their firms have business activities was studied by analyzing the collected data and doing the frequency, percentage and ANOVA tests. According to the results of the analysis, even though there was no difference in terms of sectors, there was seen an important difference in terms of the number of monthly transactions and provinces. The satisfaction of different products and services for the firms having relatively fewer number of monthly transactions is also crucial today, when the customer satisfaction is of great importance.

Download Full-text

The Indirect Impact of Profitability on Firm Value: Evidence Dividend Policy as Moderators and Capital Structure as Mediator

Technium Social Sciences Journal ◽

10.47577/tssj.v10i1.1334 ◽

2020 ◽

Vol 10 ◽

pp. 299-311

Author(s):

Achmad Budi Susetyo ◽

Agus Eko Sujianto ◽

Mochamad Arif Faizin ◽

Kiki Yunita Anjarsari ◽

Charina Dwi Rivylina Nafisah

Keyword(s):

Capital Structure ◽

Capital Market ◽

Indirect Effect ◽

Firm Value ◽

Dividend Policy ◽

The Other ◽

Indirect Impact ◽

Path Analysis Approach ◽

The Relationship ◽

The Capital Structure

Firm value is a basis for investors in deciding whether or not to invest in a firm. Therefore, a study on issuer’s strategies to maximize firm value requires special attention, especially in dealing with the Islamic capital market which is growing rapidly from time to time. A particular study is important to be conducted to look at the factors that have a direct or indirect effect on a firm's value, which includes; profitability, capital structure, and dividend policy. The path analysis approach is employed in the current study to reveal the effect of profitability on firm value, both directly and indirectly, with the intermediaries of capital structure and dividend policy. The results of the analysis indicate that profitability has a direct positive and significant effect on firm value and a negative and significant effect on capital structure, while the capital structure has a negative and insignificant effect on firm value. Indirectly, dividend policy moderates and strengthens the effect of profitability on firm value, but on the other hand, the capital structure does not mediate the effect of profitability on firm value. The absence of capital structure role in mediating the relationship between profitability and the firm value indicates that investors can determine the value of the firm directly by simply looking at the level of profitability, regardless of management’s strategy in arranging the capital structure.

Download Full-text

The Relationship between Macroeconomic Factors and Stock Market Indices Performances in Indian Stock Market

International Journal of Engineering & Technology ◽

10.14419/ijet.v7i4.36.24206 ◽

2018 ◽

Vol 7 (4.36) ◽

pp. 592

Author(s):

D. Kinslin ◽

V. P. Velmurugan

Keyword(s):

Stock Market ◽

Capital Market ◽

Significant Finding ◽

Macroeconomic Factors ◽

Money Markets ◽

Macroeconomic Variables ◽

Indian Economy ◽

Financing Costs ◽

Indian Stock Market ◽

The Relationship

This investigation endeavors in observationally testing the connection between macroeconomic variables and the exhibitions of two noteworthy Indian security advertise lists of BSE-sensex and NSE-clever. The yearly information of a few macroeconomic elements of FIIs net venture, trade rates, oil value, financing costs, swelling rates and gold rates from 1995-96 to 2014-15 are thought about and it attempts to uncover the most impact of these elements on the 'Stock files exhibitions' of the Indian securities exchange. In compatibility of this, the connection investigation and various relapse examination was utilized to contemplate the connection between the two chose security advertise files exhibitions and the six chose macroeconomic elements from the Indian economy. The significant finding is that macroeconomic elements impact securities exchange lists exhibitions in India. It is suggested that the usage of appropriate monetary approaches will be useful to money markets files and it will result in required development in the Indian capital market.

Download Full-text

Effect of Audit Expectation Gap in Nigerian Capital Market

International Journal of Accounting and Financial Reporting ◽

10.5296/ijafr.v4i2.6485 ◽

2014 ◽

Vol 1 (1) ◽

pp. 294 ◽

Cited By ~ 2

Author(s):

Paul N. Onulaka

Keyword(s):

Capital Market ◽

Negative Impact ◽

Stock Exchange ◽

Sampling Technique ◽

Cross Sectional Survey ◽

Chi Square ◽

Cross Sectional ◽

The Public ◽

Expectation Gap ◽

The Relationship

Audit expectation gap is a phenomenon that presently attracts the attention of researchers all over the world. The basic problem is in the area of how the public perceives the role of the auditor, which in most cases centers on the prevention of fraud and irregularities. On the other hand the auditor and the auditing profession always exonerate themselves from the fact and perception of the public towards their work. However, the continued litigation against the auditor and the auditing profession has called on a rethink on the relationship of the auditor and the audit work he performs This paper is structured to briefly establish what auditing and its expectations gap is and the relationship audited financial statement has on capital market and to investigate if the identified gaps have any significant effect in the volume of transactions in the Nigerian capital market.It sought to establish the perception of the capital market operators on its existence. Respondents view was also sought on how the gap could be narrowed. Chi-square (χ2) was used to analyze the data obtained from the study. The data were obtained through questionnaire. Two hundred and ninety (290) copies of the instrument were found useful out of 350 copies distributed using purposive sampling technique. In this study, a cross-sectional survey was conducted in Lagos and Abuja stock Exchange to capture the perceptions of key users of financial statements in Nigerian capital market. The tests of hypothesis were done using Microsoft Excel 2010 version. Tests were carried out at a significant level of 5% and twelve degree of freedom. The findings of the study indicated that there is a wide expectation gap in the areas of auditors’ responsibility for fraud prevention and detection. Audit expectation gap has negative impact on the volume of transactions in Nigerian stock exchange.

Download Full-text

Corporate Added Value in the Context of Web 2.0

Handbook of Research on Social Interaction Technologies and Collaboration Software ◽

10.4018/978-1-60566-368-5.ch009 ◽

2010 ◽

pp. 91-100

Author(s):

Oliver Bohl ◽

Shakib Manouchehri

Keyword(s):

Web 2.0 ◽

Capital Market ◽

Business Models ◽

Added Value ◽

Market Model ◽

Negative Effects ◽

Activity Model ◽

Corporate Actions ◽

The Relationship

Firms have faced and explored the increased use of Web 2.0. Driven mainly by private users, Web 2.0 may also have significant implications for corporate actions and business models. By systematically scanning and verifying possible positive and negative effects on the value of their creation, firms might be able to formulate and establish well-grounded strategies for corporate Web 2.0 applications and services. To establish such a process in an effective and adequate manner, it is necessary to analyze the relationship between Web 2.0 and corporate added value. This chapter contributes to these efforts by demonstrating that the corporate use of Web 2.0 applications is reinforced by fundamental and long-term business trends. The discussion pertains to the possibilities emerging from the application of Web 2.0 paradigms to business models; the market model, the activity model, and the capital market model. The potentials, risks, mainsprings, and restrictions associated with the corporate use of Web 2.0 are evaluated.

Download Full-text

The Association of Board Composition, Intellectual Capital and Firm Performance in a High Ownership Concentration Context: Evidence from Italy

International Journal of Business and Management ◽

10.5539/ijbm.v11n10p317 ◽

2016 ◽

Vol 11 (10) ◽

pp. 317 ◽

Cited By ~ 1

Author(s):

Stefania Veltri ◽

Romilda Mazzotta

Keyword(s):

Firm Performance ◽

Intellectual Capital ◽

Ownership Structure ◽

Capital Market ◽

Ownership Concentration ◽

Board Composition ◽

Firm Efficiency ◽

Management Literature ◽

Sophisticated Model ◽

The Relationship

<p>The association of Corporate Governance (CG) with Firm Performance (FP) has always been an issue relevant to management literature. Nevertheless, the notable heterogeneity of studies and their mixed results highlight the opportuneness of continuing to investigate the association of CG with FP. The article aims to contribute to this research by building and employing a sophisticated model to take into account beyond the board composition ownership structure and firm efficiency in using its intellectual capital (as measured by VAIC<sup>TM</sup>). The findings provide evidence that the board composition, the ownership concentration and the efficiency of intellectual capital increases firm efficiency in producing profits (as measured by ROA). Furthermore, our findings add knowledge to the relationship between CG and FP, by confirming a positive relationship in Italy, a continental European capital market under-investigated on this issue.</p>

Download Full-text

Review about the Application of Fractal Theory in the Research of Packaging Materials

Materials ◽

10.3390/ma14040860 ◽

2021 ◽

Vol 14 (4) ◽

pp. 860

Author(s):

Qingshan Duan ◽

Jiejie An ◽

Hanling Mao ◽

Dongwu Liang ◽

Hao Li ◽

...

Keyword(s):

Fractal Dimension ◽

Fractal Analysis ◽

Fractal Theory ◽

Inorganic Materials ◽

Packaging Materials ◽

Analysis Method ◽

Characteristic Parameters ◽

Fractal Characteristic ◽

Fractal Characteristics ◽

The Relationship

The work is intended to summarize the recent progress in the work of fractal theory in packaging material to provide important insights into applied research on fractal in packaging materials. The fractal analysis methods employed for inorganic materials such as metal alloys and ceramics, polymers, and their composites are reviewed from the aspects of fractal feature extraction and fractal dimension calculation methods. Through the fractal dimension of packaging materials and the fractal in their preparation process, the relationship between the fractal characteristic parameters and the properties of packaging materials is discussed. The fractal analysis method can qualitatively and quantitatively characterize the fractal characteristics, microstructure, and properties of a large number of various types of packaging materials. The method of using fractal theory to probe the preparation and properties of packaging materials is universal; the relationship between the properties of packaging materials and fractal dimension will be a critical trend of fractal theory in the research on properties of packaging materials.

Download Full-text

Muslim religiosity and purchase intention of different categories of Islamic financial products

10.26686/wgtn.13198430.v1 ◽

2020 ◽

Author(s):

FT Newaz ◽

Kim Fam ◽

RR Sharma

Keyword(s):

Capital Market ◽

Rapid Growth ◽

Purchase Intention ◽

Financial Products ◽

Muslim Religiosity ◽

Buying Behaviour ◽

The Relationship

© 2016 Macmillan Publishers Ltd. Considering the rapid growth of Islamic Financial Products (IFPs) worldwide and the limited research on Muslims' buying behaviour of such products, this research examines the relationship between religiosity, consumer buying attitude and purchase intention towards different categories of IFPs. The findings suggest that buying attitude has full mediation for deposit, credit and capital market products and partial mediation for insurance products on the association between Muslim religiosity and their purchase intention. Interestingly, religiosity influenced positively even for insurance and capital market products. This is in contrast with our hypothesised relationships for capital and insurance products. The study contributes to the literature by enhancing our understanding of the complex mediating religiosity - buying attitude - purchase intention relationships for different categories of IFPs.

Download Full-text

Effects Of Voluntary Disclosure Of The Schedule Of Manufacturing Cost On Analysts’ Earnings Forecasts: Evidence From Korea

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v33i3.9951 ◽

2017 ◽

Vol 33 (3) ◽

pp. 623-636

Author(s):

Hyunmin Oh ◽

Sambock Park ◽

Heungjoo Jeon

Keyword(s):

Capital Market ◽

Voluntary Disclosure ◽

Earnings Forecasts ◽

Manufacturing Cost ◽

Positive Direction ◽

Negative Direction ◽

Supervisory Authority ◽

Set Up ◽

The Relationship ◽

The Capital Market

We provide the effects of voluntary disclosure of the schedule of manufacturing cost on analysts’ earnings forecasts. We set up and analyze the disclosure of the schedule of manufacturing cost as a proxy for voluntary disclosure. Specifically, we examine the associations between voluntary disclosure of it and the accuracy of analysts’ earnings forecasts and bias in earnings forecasts. The results of our study are as follows. First, the relationship between voluntary disclosure of the schedule of manufacturing cost and the accuracy of analysts’ earnings forecasts is significant in the positive (+) direction. This means that the accuracy of analysts’ earnings forecasts is higher in the case of the firms that voluntarily disclosed the schedule of manufacturing cost, as compared to other firms. Second, the relationship between voluntary disclosure of the schedule of manufacturing cost and analysts’ bias in earnings forecasts is significant in the negative (-) direction. This means that analysts underestimate earnings in the case of the firms that voluntarily disclose the schedule of manufacturing cost, as compared to other firms. Since the schedule of manufacturing cost is still an interesting item and useful information in the capital market, the results of our study provide important implications not only to managers, but also to investors and supervisory authority. Limitations of our study include the fact that not all diverse variables that affect voluntary disclosure and analysts’ forecasts are considered.

Download Full-text