scholarly journals Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis

2021 ◽  
Vol 2021 ◽  
pp. 1-9
Author(s):  
Hong Bing Wang ◽  
Ai Hua Jin ◽  
Hai Yun Yu
Keyword(s):  
Qualitative Comparative Analysis ◽  
Garch Model ◽  
Company Law ◽  
Analysis Method ◽  
Stock Repurchase ◽  
Natural Logarithm ◽  
Size Premium ◽  
Equity Ratio ◽  
Net Assets ◽  
Matching Type

This paper takes the stock repurchase cases in 2018-2019 after the promulgation of the New Company Law as the research object. Using the qualitative comparative analysis method and PSO-ICA-GARCH model, we analyze the influencing factors of the stock repurchase announcement market reaction. Through the analysis of the degree of premium (DP), repurchase ratio (RR), natural logarithm of total assets (LAS), return on net assets (ROE), top 10 shareholder equity ratio (CR10), and executive shareholding ratio (MSL), it is found that the paths of high CAR stock repurchase effect include repurchase clause-oriented type and centralization-proportional matching type; the path of nonhigh CAR stock repurchase effect includes size-premium limit type, profit-proportion limit type, and repurchase clause limit type. Compared with GARCH model, it has higher separation accuracy and more accurate model prediction effect.

scholarly journals Configuration-Based Promotion: A New Approach to Destination Image Sustainability

2021 ◽  
Vol 13 (21) ◽  
pp. 12174
Author(s):  
Yanan Li ◽  
Honggen Xiao ◽  
Naipeng Bu ◽  
Jianji Luo ◽  
Hui Xia ◽  
...  
Keyword(s):  
Comparative Analysis ◽  
Fuzzy Set ◽  
Qualitative Comparative Analysis ◽  
Destination Image ◽  
Logical Thinking ◽  
Analysis Method ◽  
Entire Region ◽  
Tourist Destination ◽  
New Approach ◽  
Tourism Image

The assessment of tourist destination images should not only be the arrangement of multiple influencing factors. This study explores the complex causal relationship for tourist destination images based on a configuration perspective to enhance the overall tourism image using the fuzzy-set qualitative comparative analysis method. The configurational paths for promoting tourism image can be categorized into two types and nine configurations in Shandong Province. Therefore, this study recommends augmenting the tourism image of the entire region with the logical thinking of “segmentation–integration” and “enhancing strengths–supplementing weakness” and finally realizing a sustainable tourist destination image.

scholarly journals PENGARUH POSISI KAS, RASIO UTANG TERHADAP EKUITAS,DAN POTENSI PERTUMBUHAN TERHADAP RASIO PEMBAGIAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

ETIKONOMI ◽  
2013 ◽  
Vol 12 (1) ◽  
Author(s):  
Indayani Indayani ◽  
M Nur Yahya
Keyword(s):  
Stock Exchange ◽  
Growth Potential ◽  
Multiple Linear Regressions ◽  
Test Results ◽  
Manufacturing Companies ◽  
Analysis Method ◽  
Dividend Payout ◽  
Equity Ratio ◽  
Linear Regressions ◽  
Test Result

The aim of this study is to determine and examine the influence of cash position, debt to equity ratio, and growth potential to the dividend payout ratio of companies listed in Indonesia Stock Exchange (BEI). The analysis method of the data used to test the hypothesis is the multiple linear regressions. The test result showed that simultaneous cash position, debt to equity ratio, and growth potential did not significantly influence the dividend payout ratio at manufacturing companies listed on the BEI. The test results showed that only partially variable cash position that significantly influence the dividend payout ratio of companies listed on the Stock Exchange, while variable debt to equity ratio, and growth potential does not affect the dividend payout ratio of companies listed on the BEIDOI: 10.15408/etk.v12i1.1904

Research on the Promotion Path of Collaborative Emergency Response Capability of Smoke-Free Cities in the Digital Age

2021 ◽  
Vol 7 (6) ◽  
pp. 5230-5245
Author(s):  
Qian Yuhao ◽  
Chen Junshi ◽  
Wang Chen ◽  
Liu Chen
Keyword(s):  
Emergency Management ◽  
Emergency Response ◽  
Emergency Preparedness ◽  
Qualitative Comparative Analysis ◽  
Control Mode ◽  
Disaster Prevention ◽  
Analysis Method ◽  
Emergency Plans ◽  
Information Resource Integration ◽  
Integration Mode

In recent years, major public safety incidents occur frequently in smoke-free cities. Under the complex and severe situation, the emergency preparedness capacity of smoke-free cities in China needs to be improved. In this paper, 50 fire emergency plans in smoke-free City F are taken as samples, and the qualitative comparative analysis method of clear set (csqca) is applied to explore the improvement path of emergency preparedness ability. Three influence paths are obtained to improve the emergency preparedness ability, which are information resource integration mode, business collaboration pre control mode and system route mode. The results provide reference for improving the effectiveness of pre disaster prevention, enhance the emergency preparedness capacity of smoke-free cities and improving the effect of emergency management.

scholarly journals ANALISIS PENGARUH INFORMASI KEUANGAN PERUSAHAAN DAN NON KEUANGAN PERUSAHAAN TERHADAP TINGKAT UNDERPRICING SAHAM PERDANA DI BURSA EFEK INDONESIA (Studi empiris pada perusahaan yang IPO periode 2018)

KEUNIS ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 65
Author(s):  
Ulfa Setyaningsih ◽  
Theresia Tyas Listyani ◽  
Manarotul Fatati
Keyword(s):  
Stock Price ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Total Sample ◽  
Secondary Market ◽  
Analysis Method ◽  
Section Data ◽  
Underwriter Reputation ◽  
Equity Ratio

<em>Stock underpricing is a situation where the stock price at the time of supply in the primary market lower than when traded in the secondary market. Stock Underpricing is unfavorable phenomenon for companies that go public, because the funds obtained the company was not optimal. This study aimed to analyze the influence of Earning Per Share (EPS), Debt to Equity Ratio (DER), Underwriter Reputation and Age Companies on the level of Underpricing level at the Indonesia Stock Exchange on the company's IPO period of 2018. The study design was quantitative research applied causal. The sampling technique used was purposive sampling, with a total sample of 54 and data used are cross section. Data analysis method used is multiple linear regression operated by SPSS 20.0. The results of this study indicate that the Earning Per Share (EPS) and Debt to Equity Ratio (DER) have no significant effect on the level of underpricing of IPO at the Indonesia Stock Exchange, while Reputation Underwriter and Age Company have significant effect on the level of underpricing of IPO at the Indonesia Stock Exchange.</em>

scholarly journals Pengaruh Inflasi, Suku Bunga Sbi Dan Jumlah Uang Beredar Terhadap Indeks Harga Saham Gabungan (IHSG) Dengan Model Arch-Garch

2021 ◽  
Vol 3 (3) ◽  
pp. 688
Author(s):  
Ernest Theodore Febrianto Sitompul ◽  
Ignatius Roni Setyawan
Keyword(s):  
Interest Rates ◽  
Money Supply ◽  
Stock Price ◽  
Price Index ◽  
Hypothesis Test ◽  
Composite Index ◽  
Garch Model ◽  
Coefficient Of Determination ◽  
Analysis Method ◽  
Stock Price Index

The purpose of this study was to determine the effect of inflation, interest rates certificates of Bank Indonesia and the money supply on the composite stock price index (CSPI) with the Arch-Garch model. The analytical method used in this study is multiple regression analysis method with the Arch-Garch model which was carried out with Eviews 9.0. One of the requirements for conducting multiple analysis tests is to test the classical assumptions. This is necessary so that the resulting regression equation is good. Then test the hypothesis, test the coefficient of determination and z test. The results of this study indicate that the Inflation variable has an effect on the Jakarta Composite Index (JCI) in the period January 2014 – December 2018. The interest rates certificates of Bank Indonesia an effect on the Jakarta Composite Index (JCI) in the period January 2014 – December 2018. The Money Supply has an effect. against the Composite Stock Price Index (JCI) in the period January 2014 – December 2018.Tujuan dari penelitian ini adalah untuk mengetahui pengaruh inflasi, suku bunga SBI dan jumlah uang beredar teradap indeks harga saham gabungan (IHSG) dengan model Arch-Garch. Metode analisis yang digunakan dalam penelitian ini adalah metode analisis regresi berganda dengan model Arch-Garch yang dilakukan dengan Eviews 9.0. Salah satu syarat untuk melakukan uji analisis berganda perlu dilakukan uji asumsi klasik. Hal ini diperlukan agar persamaan regresi yang dihasilkan baik. Kemudian dilakukan uji hipotesis, uji koefisien determinasi dan uji z. Hasil dari penelitian ini menunjukkan bahwa variable Inflasi berpengaruh terhadap Indeks Harga Saham Gabungan (IHSG) pada periode Januari 2014 – Desember 2018. Suku Bunga SBI memiliki pengaruh terhadap Indeks Harga Saham Gabungan (IHSG) pada periode Januari 2014 – Desember 2018. Jumlah Uang Beredar berpengaruh terhadap Indeks Harga Saham Gabungan (IHSG) pada periode Januari 2014 – Desember 2018.

scholarly journals UKURAN PERUSAHAAN DAN TINGKAT LEVERAGE SEBAGAI PENDORONG PENERAPAN HEDGING UNTUK MENEKAN RISIKO IDIOSINKRATIK

AJAR ◽  
2019 ◽  
Vol 2 (02) ◽  
pp. 19-48
Author(s):  
Cesilia Novita Simarmata ◽  
Suwandi Ng ◽  
Fransiskus E. Daromes
Keyword(s):  
Firm Size ◽  
Factor Model ◽  
Stock Exchange ◽  
Investment Decision ◽  
Idiosyncratic Risk ◽  
Natural Logarithm ◽  
Investment Decision Making ◽  
Equity Ratio ◽  
Fama And French

This research aims to investigate the role of firm size and leverage to be determinants of hedging application in order to suppress idiosyncratic risk. This research measured firm size using natural logarithm of total assets, debt to equity ratio for leverage, dummy variable for hedging activity, and Three Factor Model by Fama and French for idiosyncratic risk. The main theory used in these research are signaling theory and agency theory. The population used is non-financial companies listed on the Indonesian Stock Exchange for period of 2013-2017. The number of samples are 94 firms each year, selected by purposive sampling method. This research used documentary data, such as the annual report and financial statements. This research also used path analysis to analyze the data and sobel test to analyze the mediation role of hedging. The results of this research show that firm size and leverage have a positive and significant effect to hedging. Firm size has a positive but not significant effect to idiosyncratic risk, whilst leverage has a positive and significant effect to the latter. Firm size has a significant effect to idiosyncratic risk through hedging activity as mediator. Surprisingly, leverage does not need hedging to mediate its effect to idiosyncratic risk. This research is expected to be a reference for management to improve firm performance so it could gain investor trusts through hedging application as financial strategy. Investor could also use the results of this research as considerations for investment decision making.

scholarly journals Short-Term Price Effects of Stock Repurchases in Turkish Capital Markets

2015 ◽  
Vol 7 (12) ◽  
pp. 29 ◽  
Author(s):  
Burak Pirgaip ◽  
Semra Karacaer
Keyword(s):  
Capital Markets ◽  
Stock Prices ◽  
Company Law ◽  
Stock Repurchases ◽  
Open Market ◽  
Short Term ◽  
Stock Repurchase ◽  
Listed Firms ◽  
Commercial Code ◽  
Signaling Hypothesis

Stock repurchase, as a corporate finance tool and a substitute for cash dividends, plays an important role in distributing excess cash. Following a prohibited period due to its potentially negative outcomes for shareholders and creditors, stock repurchase has recently been regulated within the company law systems of many countries pursuant to its increasing popularity in satisfying special financing requirements of companies. That the regulatory improvements have removed the uncertainty inherent in such transactions has increased the volume of, especially, the open market stock repurchases. Turkish legislation, <em>i.e.</em> <em>Commercial Code and Capital Markets Law</em>, has latterly been updated in accordance with EU acquis communautaire in order to allow stock repurchase for listed firms. We analyse movements in stock prices after stock repurchase transactions in order to make inferences about why stock repurchase is used and what its impacts/signals are in Turkish market at their infancy stage. Having followed a standard event study methodology, the results reveal that investor reaction to stock repurchase transactions is generally positive in the short-term. These results support the notion of a signaling hypothesis as a motivator behind stock repurchase decisions.

Analysis of The Effect of Liquidity, Total Assets, and DER On Profitability and Company Value

2019 ◽  
Vol 1 (3) ◽  
pp. 51-65
Author(s):  
ST Aminah ◽  
Abdul Rakhman Laba ◽  
Erlina Pakki
Keyword(s):  
Firm Value ◽  
Annual Report ◽  
Stock Exchange ◽  
Test Results ◽  
Analysis Method ◽  
Company Value ◽  
Telecommunication Companies ◽  
Negative Effect ◽  
Equity Ratio ◽  
Spss Software

This study aims to analyze the effect of liquidity, total assets, and Debt to Equity Ratio(DER) on profitability (ROA) and firm value (PER) on telecommunication companies listed on the Indonesia Stock Exchange (BEI). The samples taken are 30 from five different companies listed on the Indonesia Stock Exchange using the annual report from 2012 - 2017. Data is then analyzed using path analysis method with the assistant of SPSS software. Sobel test and classical assumption test were evaluated beforehand. The results of the study found that liquidity had a negative and significant effect on profitability (ROA), while total assets and DER had a positive and significant effect on profitability. Liquidity and total assets have a positive and significant influence on firm value, while DER has a negative effect on firm value. Profitability has a positive and significant effect on firm value. The mediation test results show that liquidity has a direct and indirect effect on firm value mediated by profitability. Total assets have a direct effect on increasing company value, but interestingly total assets through profitability show insignificant score to impact firm value. DER has a direct and negative effect on firm value, while the results of the probability proved that profitability can mediate the influence between DER on firm value.

scholarly journals Popularity in Social Networks. The Case of Argentine Beekeeping Production Entities

Agriculture ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. 694
Author(s):  
Jimena Andrieu ◽  
Domingo Fernández-Uclés ◽  
Adoración Mozas-Moral ◽  
Enrique Bernal-Jurado
Keyword(s):  
Social Networks ◽  
Word Of Mouth ◽  
Qualitative Comparative Analysis ◽  
Organizational Factors ◽  
Organizational Characteristics ◽  
Analysis Method ◽  
Digital Platforms ◽  
Online Business ◽  
Word Of Mouth Communication

The context of the COVID pandemic has accelerated the pace of the digitalization of society, especially of its business fabric. Among the various applications offered by the Internet, social networking platforms have been identified as powerful tools that organizations have at their disposal for the development of their online business activities. This is due to the closeness and trust generated by word-of-mouth communication. In this context, the aim of this article is to identify which organizational characteristics are directly related to popularity on social networks, measured by the number of followers on these accounts. In order to achieve this objective, the Argentinean beekeeping organizations have been taken as a case study and the fuzzy set Qualitative Comparative Analysis method has been used. The results obtained allow us to validate the different organizational factors which, beyond the use of Facebook itself, lead to better results for the organizations in their social network strategies. These factors include their cooperative nature, localization, environmental sensitivity and presence on other digital platforms.

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