scholarly journals Financial performance trends of United States Hockey Inc: a resource-dependency approach

2019 ◽  
Vol 24 (48) ◽  
pp. 327-344 ◽  
Author(s):  
Peter Omondi-Ochieng
Keyword(s):  
Financial Performance ◽  
Net Income ◽  
Return On Assets ◽  
Financial Efficiency ◽  
Content Type ◽  
Non Profit ◽  
Average Return ◽  
Efficiency Measures ◽  
Performance Trends ◽  
The Us

Purpose The purpose of this paper is to examine the 2009 to 2016 financial performance of the US Hockey Inc., using financial effectiveness indicators and financial efficiency ratios. Design/methodology/approach With the assistance of financial trend analysis, archival data were used to examine the financial performance (evaluated by net income), financial effectiveness (indicated by total assets and total revenues) and financial efficiency (examined by programme services ratios and return on assets) of US Hockey Inc. Findings On average, the financial performance of the organization was positive ($30,895 net income per year). Financial effectiveness was steady with increases in assets and revenues. Financial efficiency was poor with 79% of revenues spent on programme services and 1.45% average return on asset. Research limitations/implications The results can be generalized to similar national non-profit sports federations but not corporate sports entities with dissimilar financial goals. Practical implications The results revealed that national non-profit sports federations can boost their financial performance by maintaining a double strategically focus on both financial effectiveness and financial efficiency. Originality/value The study used both financial effectiveness and financial efficiency measures to evaluate the financial performances of a national non-profit sports federation – a neglected approach similar studies.

Financial performance of the United Kingdom's national non-profit sport federations: a binary logistic regression approach

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peter Omondi-Ochieng
Keyword(s):  
Logistic Regression ◽  
Financial Performance ◽  
Binary Logistic Regression ◽  
Net Income ◽  
Return On Assets ◽  
Financial Efficiency ◽  
Content Type ◽  
Non Profit ◽  
Effectiveness And Efficiency ◽  
Performance Results

PurposeThe aim of this study was to predict the financial performance of the United Kingdom's (UK) national non-profit sport federations (NNSFs) using financial effectiveness indicators and financial efficiency ratios, as framed by the resource dependency theory and stakeholder theory.Design/methodology/approachThe dependent variable was financial performance quantified as net income. The independent variables were financial effectiveness (measured as total assets and revenues) and financial efficiency (indicated as return on assets, sponsorship efficiency and donation efficiency). With the help of panel data, the study utilised binary logistic regression and Kendall’ tau correlations.FindingsBinary regression results reported a Nagelkerke R2 of 87.5%, with ROA and donation efficiency being the best predictors of financial performance. Results from Kendall’ tau correlations indicated a positive and statistical association between financial performance and financial effectiveness and financial efficiency.Research limitations/implicationsThe study was delimited to UK non-profit sports organisations that had free, useable and publicly available financial data. For top management, donors and policy advocates, the study highlighted the superiority of financial efficiency over financial effectiveness.Originality/valueThe study adds to research, theory and practitioners' perspectives by offering a new way of evaluating financial performance with the combination of financial effectiveness and efficiency and not opinions, a factor uncommon in previous studies.

Risk disclosure and financial performance: the case of Islamic and conventional banks in the GCC

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ayman E. Haddad ◽  
Hussain Alali
Keyword(s):  
Financial Performance ◽  
United Arab Emirates ◽  
Best Practice ◽  
Annual Reports ◽  
Risk Disclosure ◽  
Return On Assets ◽  
Content Type ◽  
Return On Equity ◽  
Gcc Countries ◽  
Conventional Banks

Purpose This study aims to explore the extent of risk disclosure (RD) among conventional banks (CBs) and Islamic banks (IBs) listed on stock markets in the Gulf cooperation council (GCC). It also examines the influence of RD on the banks’ financial performance as measured by return on assets (ROA) and return on equity (ROE). Design/methodology/approach This study uses content analysis to examine RD in the annual reports of 16 CBs and 14 IBs in the GCC for a sample of 240 firm-year observations over the period 2007 to 2014. Findings The study shows no significant differences between the RD reported in the annual reports of CBs and that of IBs. On average, a CB reported 234 sentences while an IB disclosed 244 sentences of RD in its annual report. The authors also find that both types of banks had an upward trend over the periods. While the means of RD reported by CBs have significantly improved over the period, the RD reported by IBs has not. Similar results are also found when the authors compared the RD pre- and post-financial crisis period. Finally, the authors find that there is a significant association between RD and both models of financial performance (ROA and ROE) for IBs, after controlling other variables. However, RD has a significant association with only ROE for CBs. Research limitations/implications The bank selection was restricted to publicly traded banks in the GCC. Other financial institutions and different types of industries were not considered. Further research could determine whether the results obtained in this study could be generalized to different industries in the GCC and or in other countries. Practical implications This study provides evidence on the significant association between RD and the financial performance of CBs and IBs in GCC countries. This study could be helpful to regulatory authorities in encouraging banks to adopt the best practice of RD and thus promote banks’ transparency. Originality/value This is the first known study to examine the RD practices of both types of banks and their association with banks’ financial performance in five-GCC countries (Kuwait, Qatar, Saudi Arabia, United Arab Emirates and Bahrain), based on a longitudinal analysis of year-end annual reports, covering eight years period from 2007 to 2014.

Examining the financial performance of agricultural cooperatives in the USA

2019 ◽  
Vol 79 (2) ◽  
pp. 271-282 ◽  
Author(s):  
Krishna Prasad Pokharel ◽  
Madhav Regmi ◽  
Allen M. Featherstone ◽  
David W. Archer
Keyword(s):  
Interest Rate ◽  
Financial Performance ◽  
Financial Stress ◽  
Rate Of Return ◽  
Agricultural Cooperatives ◽  
Return On Assets ◽  
Real Rate ◽  
Content Type ◽  
Return On Equity ◽  
The Real

Purpose The purpose of this paper is to identify financial stress and the causes of financial stress for agricultural cooperatives and provide management recommendations to stakeholders including cooperatives’ managers, boards of directors and lenders. Design/methodology/approach This research used the geometric mean of the real rate of return on equity to identify financially stressed agricultural cooperatives. The real rate of return on equity allows the allocation of total financial stress among the return on assets, leverage and interest rate issues. Findings This study found that financially non-stressed agricultural cooperatives had a higher rate of return on equity and rate of return on assets, but lower leverage ratios and interest rates than stressed agricultural cooperatives. Further, non-stressed cooperatives had higher total assets and sales compared to stressed cooperatives. This suggests that smaller cooperatives are more likely to face financial stress than larger cooperatives. The decomposition of the financial problem showed that a substantial percentage of financial stress was correlated with a low return on assets or profitability. A smaller percentage of financial stress was due to financing decisions. Originality/value This study provides value by measuring the impact of profitability, leverage and interest rate on the financial performance of agricultural cooperatives. Results showed that a substantial proportion of financial stress was associated with a low return on assets. This indicates that profitability is a problem for agricultural cooperatives. This study also examines profitability during a period of volatile returns in production agriculture.

Deferred revenue changes as a leading indicator for future financial performance

2017 ◽  
Vol 25 (4) ◽  
pp. 549-568 ◽  
Author(s):  
Ke Zhong ◽  
Fang Wang ◽  
Lihui Zhou
Keyword(s):  
Financial Performance ◽  
Stock Markets ◽  
Design Methodology ◽  
Profit Margin ◽  
Sales Growth ◽  
Return On Assets ◽  
Content Type ◽  
Market Participants ◽  
Future Performance ◽  
Leading Indicator

Purpose The purpose of this paper is to investigate whether deferred revenue changes can serve as a leading indicator for firms listed on China’s stock markets, and whether China’s market participants can appropriately incorporate future performance implications of deferred revenue changes. Design/methodology/approach Empirical/archival/regression analysis. Findings The authors find that deferred revenue changes are positively associated with the next two years’ sales growth, gross profit margin, profit margin, and return on assets, suggesting that deferred revenue changes can serve as a valid leading indicator for future financial performance. The authors also find that Chinese investors tend to underweight future performance implications of deferred revenue changes. Originality/value To the authors’ knowledge, this study is among the first research to examine deferred revenue changes as a leading fundamental indicator and market underreaction to reported accounting information for firms listed on China’s stock markets.

The financial viability of the fitness industry in Belgium

2015 ◽  
Vol 5 (4) ◽  
pp. 365-385 ◽  
Author(s):  
Diane Breesch ◽  
Steven Vos ◽  
Jeroen Scheerder
Keyword(s):  
Financial Performance ◽  
Strong Impact ◽  
Strategic Decisions ◽  
Cross Sectional ◽  
Content Type ◽  
Non Profit ◽  
Long Run ◽  
Starting Point ◽  
Fitness Industry ◽  
Sport Industry

Purpose – The purpose of this paper is to analyze whether the fitness industry in Belgium is financially viable in its position as a growing commercial player within the framework of the European sport model where non-profit and public sport providers still have a strong impact. Design/methodology/approach – The authors evaluate the financial performance of the Belgian fitness industry using a time-trend analysis applying a cross-sectional research design for the years 2002 through 2007. Findings – The analysis shows that the Belgian fitness industry is not able to generate positive income figures despite large increases in sales revenues. In particular fitness chains generally accumulate losses. However, the Belgian fitness industry pursues an active investment policy resulting in high noncash expenses in depreciations negatively influencing accounting profit numbers. The operating cash flow generated by the Belgian fitness industry is, nevertheless, largely positive. Although no immediate liquidity problem exists, the fitness industry needs to improve its profitability in the long run in order to stay in business. Research limitations/implications – This study can be a starting point for further and more in depth financial performance evaluations of commercial actors in the field of sport. Differences and similarities between European countries should be investigated in order to generalize the findings. Practical implications – The conclusions could support regulators in policy decisions and business managers in strategic decisions relying on financial information in order to pilot their organization. Originality/value – Analyzing the financial performance of a sport industry at a national scale is challenging. However, this kind of analysis is not frequently performed for commercial sport providers such as the fitness industry. This is precisely where this paper wants to contribute.

USA Triathlon

2018 ◽  
Vol 67 (7) ◽  
pp. 1192-1213 ◽  
Author(s):  
Peter Omondi-Ochieng
Keyword(s):  
Support Services ◽  
Design Methodology ◽  
Financial Resources ◽  
Net Income ◽  
Case Study Method ◽  
Content Type ◽  
Non Profit ◽  
Sports Organizations ◽  
Practical Implications

Purpose The purpose of this paper is to examine the 2010–2015 financial performance (FP) of the national non-profit USA Triathlon (UST) using financial effectiveness (FE) indicators and financial efficiency (FY) ratios. Design/methodology/approach Archival data were used together with a case study method. FP was evaluated by net income; FE was indicated by total assets and total revenues, while FY was examined by program services ratios and support services ratios. Findings On average, the FP of the organization was positive ($2,100,591 net income per year), FE was moderate (66 percent increases in assets and revenues) and the FY was mixed (80 percent revenues spent on program services with an impressive return on asset of 14 percent). Research limitations/implications By using case study method, the results may not be generalizable to other national non-profit sports organizations with non-financial objectives. Practical implications The results revealed that overall FP is a product of both FE and FY, making the study valuable to managers who are often faced with unreliable financial resources. Originality/value The study utilized both FE and FY measures to evaluate the FPs of UST – a major shortfall in similar studies.

ON THE FINANCIAL PERFORMANCE OF PRIVATE ENTERPRISES IN CHINA

2007 ◽  
Vol 12 (04) ◽  
pp. 399-414 ◽  
Author(s):  
HUNG-GAY FUNG ◽  
XIAOQING ELEANOR XU ◽  
QI-ZI ZHANG
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Equity Capital ◽  
Private Enterprises ◽  
Chinese Market ◽  
Return On Assets ◽  
Charitable Contributions ◽  
Average Return ◽  
Total Capital ◽  
Private Entrepreneurs

Using the comprehensive 2000 and 2002 surveys of Chinese entrepreneurs conducted by the National Association of Private Entrepreneurs and the Chinese Academy of Social Sciences, we examine the characteristics and financial performance of private enterprises in China. Entrepreneurs, on average, are 40 years old and many are well-educated; more than one-third of them have a college degree or higher. Their companies are young, with an average age of six to seven years. Entrepreneurs contribute most of the equity capital to the private firms, which in general, are profitable with an average return on assets of 16 percent in 2002 and 11 percent in 2000. Further empirical analysis demonstrates the important impact of social, financing and human capital on firms' financial performance. We find that social capital (measured by charitable contributions), financing capital (measured by the equity-to-total capital ratio), and human capital have significant effects on firm profitability, and younger entrepreneurs tend to be more successful in the new Chinese market economy.

What generic strategies do private fitness centres implement and what are their impacts on financial performance?

2020 ◽  
Vol 10 (3) ◽  
pp. 317-333
Author(s):  
Elsa Vieira ◽  
João Ferreira
Keyword(s):  
Financial Performance ◽  
Return On Assets ◽  
Content Type ◽  
Cost Leadership ◽  
Leadership Strategy ◽  
Industry Leadership ◽  
Combined Strategy ◽  
The Cost ◽  
Generic Strategies ◽  
Cost Leadership Strategy

PurposeThe purpose of this paper is to identify the strategies that private fitness centres implement and to evaluate their impact on financial performance.Design/methodology/approachBased upon a sample of 151 private fitness centres in Portugal, multivariate statistics report the implemented strategies and their effect on financial performance. We applied exploratory factorial analysis as our methodology to identify the types of strategy and the ANOVA in order to verify if there are differences of financial performance in the strategies.FindingsThe results obtained demonstrate how private fitness centres implement different strategies, including: cost leadership, differentiation, focus, quality of service, combined and stuck in the middle approaches. The relationship between strategies and financial performance, private fitness centres adopting a cost leadership strategy obtain the best financial performance levels in terms of the sales variable relative to any other strategy but with the combined strategy returning a better performance in terms of the return on assets when compared with the cost leadership strategy.Originality/valueThe originality of this paper stems from its identification of the strategies implemented by private fitness centres, thus, just what type of strategies are in effect across the fitness industry: leadership through cost, differentiation or a focused strategy. However, in addition to ascertaining just which strategies undergo implementation, it is also pertinent in determining just which strategy drives the best financial performance for private fitness centres given that private centres may only remain in the market when achieving financial sustainability. Therefore, this paper seeks to provide information for managers as regards the strategies implemented and their impacts on the financial performance of private fitness centres.

Corporate social responsibility and future financial performance

2018 ◽  
Vol 13 (3) ◽  
pp. 351-371 ◽  
Author(s):  
Mahdi Salehi ◽  
Mahmoud Lari DashtBayaz ◽  
Sohila Khorashadizadeh
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Emerging Market ◽  
Return On Assets ◽  
Content Type ◽  
Firm Financial Performance ◽  
The Future ◽  
Corporate Social ◽  
The Relationship

Purpose The purpose of this paper is to investigate the relationship between corporate social responsibility (CSR) expenditures and firm financial performance in an emerging market. Design/methodology/approach The authors examine the hypotheses by performing panel data analysis on a sample of 159 companies listed on the Tehran Stock Exchange during 2010–2015. Findings The findings suggest that the investment in CSR initiatives is significantly and positively associated with firm financial performance as proxied by changes in return on assets. Moreover, the findings confirm a positive and significant association between CSR expenditures and firm financial performance as proxied by both the future changes in return on assets and the future changes in operating cash flows scaled by total assets. Originality/value The present study has examined the relationship between CSR and firm financial performance in a country where, to the authors’ knowledge as in most other developing markets, such a relationship has not been a subject of empirical research. Besides, the use of a three-dimensional measure of financial performance, primarily considering research undertaken in an emerging market, as a valuable contribution may be observed.

US Table Tennis Association

2018 ◽  
Vol 44 (2) ◽  
pp. 189-206 ◽  
Author(s):  
Peter Omondi-Ochieng
Keyword(s):  
Support Services ◽  
Design Methodology ◽  
Table Tennis ◽  
Net Income ◽  
Case Study Method ◽  
Content Type ◽  
Non Profit ◽  
Sports Organizations ◽  
Practical Implications

Purpose The purpose of this paper is to examine the 2004-2015 financial performance (FP) of the national non-profit US Table Tennis Association using financial effectiveness (FE) indicators and financial efficiency (FY) ratios. Design/methodology/approach Archival data were used together with a case study method. FP was evaluated by net income; FE was indicated by total assets and total revenues while FY was examined by program services ratios and support services ratios. Findings On an average, the FP of the organization was poor ($6,475.00 net loss per year), FE was moderate (50 percent increases in assets and revenues), and the FY was poor (80 percent revenues spent on program services with a return on asset of 201.5 percent). Research limitations/implications By using case study method, the results may not be generalizable to other national non-profit sports organizations with non-financial goals. Practical implications The paper suggests that national non-profit organizations can enhance their FP by focusing on both FE and FY. Originality/value The study utilized both FE and FY measures to evaluate the FPs – a major shortfall in similar studies.

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