scholarly journals Analysis of the Negative Relationship between Blockchain Application and Corporate Performance

2021 ◽  
Vol 2021 ◽  
pp. 1-18
Author(s):  
Rensi Li ◽  
Yinglin Wan
Keyword(s):  
Adverse Selection ◽  
Stock Return ◽  
Corporate Performance ◽  
Negative Relationship ◽  
Short Term ◽  
Blockchain Technology ◽  
Governance Environment ◽  
Long Run ◽  
Performance Decline ◽  
Earning Quality

Blockchain technology is one of the most critical emerging technologies. Countries are promoting the development of blockchain technology vigorously. Theoretically, blockchain technology improves the trust between enterprises, reduces information asymmetry, and promotes efficiency. It should promote corporate performance, but analyzing the actual data of Chinese listed companies, contrary to expectation, blockchain technology makes corporate performance decline. We found that this is mainly due to the effect of adverse selection through analysis and empirical tests. The enterprises that use blockchain technology are not accompanied by the increase in R&D expenditure, investment expenditure, and patents. The companies’ abnormal stock return and stock turnover rate have increased. The enterprises with worse performance are more likely to use blockchain to the hype. They can gain a short-term stock return. However, in the long run, the market-to-book ratio of government subsidies and the growth rate of corporate income are declining. Furthermore, the financial constraints are not alleviated as adverse selection only plays a role in the short term. Besides, the heterogeneity tests find that from the prospects of internal governance environment, the higher proportion of the largest shareholder, the better earning quality of the company. The enterprises with state-owned property rights have lower motivations of using blockchain to make an adverse selection. The study also found that the external environment prospects of enterprises with a lower degree of marketization and law environment are more likely to use the blockchain.

scholarly journals IMPACT OF CORPORATE SUSTAINABILITY REPORTING PRACTICE ON CORPORATE PERFORMANCE: A REVIEW OF LITERATURE

2020 ◽  
Vol 8 ◽  
pp. 19-34
Author(s):  
Nusirat Ojuolape Gold ◽  
Fauziah Md. Taib
Keyword(s):  
Corporate Performance ◽  
Corporate Sustainability ◽  
Negative Relationship ◽  
Sustainability Reporting ◽  
Measurement Tool ◽  
Business Practices ◽  
Reporting Practice ◽  
Long Run ◽  
The Impact ◽  
Sustainable Practice

Stakeholder pressure on corporations to adopt sustainable practice has been a subject steering constant argument in recent times. The reason could be due to the awareness of the environmental impact and concern in preserving the planet. This study, through a literature review of prior studies, examined the impact of corporate sustainability reporting practice on corporate performance. Numerous researchers investigated this relationship in the past, but there is still a lack of consensus with regards to outcomes. Findings have been inconsistent and contradictory, varying from positive to a negative relationship, to statistically insignificant or mixed outcomes dependent on several factors such as cost exceeding benefits, shareholders perceiving sustainability initiative as a cost object, investors not valuing disclosure, firms using disclosure as legitimization tool for prestige, weak legislation, proxies used for measurement tool, country/ region of study, methodology, the period covered, industry sector covered and/or sample size. Our study reviewed 35 works of literature and found 13 studies with positive outcomes, 8 with significant negative outcomes, 5 with no significant relationship and 9 with mixed result. Overall, we concluded that it pays for corporations to adopt sustainable business practices as the benefit of adoption will span across the long term. Not denying the fact that companies would incur some huge costs in the short run at the time of investment, but the long-run benefits would far outweigh whatever cost they might have incurred. Hence, corporations are advised to start incorporating the sustainable practice into the management process and subsequently report on them to avoid legitimacy cost and to gain long-run competitive advantage. Future studies may conduct a systematic review to disaggregate the approaches, so as to examine the different dimensions of sustainability practice and provide a more concise and clear result.

scholarly journals Cash Flows and Earnings for Share in Islamic Banks: Jordanian Evidence

2020 ◽  
Vol 15 (12) ◽  
pp. 15
Author(s):  
Bader M. Alsharif ◽  
Talal M. Bataineh ◽  
Khaled M. Abo Aliqah
Keyword(s):  
Positive Relationship ◽  
Annual Report ◽  
Negative Relationship ◽  
Cash Flows ◽  
Islamic Banks ◽  
Short Term ◽  
Islamic Bank ◽  
Long Run ◽  
Net Profit ◽  
Report Data

This study provides evidence on the effect of cash flows extracted from operating, investing, and financing activities attributed to the net profit, total assets or liabilities on the return per share for Jordan Islamic Bank, International Islamic Arab Bank, and Al-Rajhi Islamic Bank. The methodology is based on panel regression analyses of annual report data for Jordan listed Islamic Banks for the year from 2005 to 2019. The return on a stock plays an important role in investing and financing operations. Thus, the cash flows are weak in the short term and quickly increase in the long run. Results show a negative relationship between cash flow and return on a stock, except for cash flows from operating activities, which have a positive relationship with the return on a stock in the second and third models. The reason for this positive relationship is either the increase in operations from untapped money does not increase the size of assets or liabilities or the decrease in operations leads to an increase in profits and thus an increase in the return on the stock. This association indicates moderation in maintaining the amount of cash. Any risk facing the bank from withdrawals or financing operations is covered without affecting the size of the bank’s profits until the turnout by investors increases and the profit increases.

scholarly journals The Effect of IPCC Reports and Regulatory Announcements on the Stock Market

2020 ◽  
Vol 12 (8) ◽  
pp. 3142
Author(s):  
Elena Rogova ◽  
Galina Aprelkova
Keyword(s):  
Climate Change ◽  
Negative Relationship ◽  
Short Term ◽  
Intergovernmental Panel ◽  
Public Companies ◽  
Medium Carbon ◽  
Study Approach ◽  
Long Run ◽  
Ipcc Report ◽  
Daily Returns

This study explores U.S. public companies’ reactions to scientific announcements by the IPCC (Intergovernmental Panel on Climate Change) with respect to updated climate change knowledge and how it affects their stock valuations, given their carbon emission/environmental outlooks. Based on a sample of total daily returns collected for 10 industry indexes from the S&P 500 Index over the period 1990–2014, and using an event study approach, we analyze the connection between IPCC assessment report announcements and firms’ returns to evaluate panel data models. We found that various sectors, regardless of their carbon profiles, react abnormally to IPCC report announcements without remarkable long-run cumulative effects. The implications of these results are that there is no clear violation of the efficient markets hypothesis, yet short-term profits may be gained. Furthermore, the market still reacts to new scientific announcements, even though 24 years have passed since the first IPCC report. In addition, there is a negative relationship for low and medium carbon-intensive industries, especially in the short term.

Macro-Economic Disequilibrium and Educational Development in Nigeria between 1980-2017

2019 ◽  
Vol 10 (08) ◽  
pp. 20592-21600
Author(s):  
Gbadebo Salako ◽  
Adejumo Musibau Ojo ◽  
Jaji Ayobami Francis
Keyword(s):  
Time Series Data ◽  
Educational Development ◽  
Negative Relationship ◽  
Series Data ◽  
Explanatory Variables ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Stationarity Test ◽  
Level I

This study empirically investigates the effects of macroeconomic disequilibrium on educational development in Nigeria. The study employed time series data between 1980 and 2017. Autoregressive Distributed Lag method of estimation was employed. The result revealed that the variables stationarity test were mixed between the first difference I(I) and level I(0). The cointegration result shows that there exist long run relationship between the variables. The result revealed that Balance of payment, Poverty, Debt rate inflation and unemployment exhibited negative relationship with educational development. The estimation result showed that all explanatory variables account for 88% variation of educational development in Nigeria. It is therefore recommended that government should fast track policies that can stabilize inflation and exchange rate in the country. Also, Policies must be formulated to reduce poverty and unemployment.

The Sustainable Debts of Philip II

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
Sixteenth Century ◽  
Strong Evidence ◽  
Military Expenditure ◽  
Debt Service ◽  
Fiscal Sustainability ◽  
Short Term ◽  
Systematic Analysis ◽  
Philip Ii ◽  
Long Run

This chapter addresses the sustainability of debt. A systematic analysis based on the International Monetary Fund's (IMF) methodology to evaluate fiscal sustainability shows that Castile was able to service its debts in the long run. While liquidity was scarce during periods of intense warfare, years of relative peace brought large surpluses. The data collected from Castile's annual fiscal accounts produced new yearly series of revenue, military expenditure, short-term debt issues, and short-term debt service. The resulting database spans a full 31-year period—enough to employ modern quantitative techniques. This analysis provides strong evidence that Castile's fiscal position in the second half of the sixteenth century was on a solid footing. The chapter then assesses whether the events that led to major downturns in Castile's financial fortunes could have been anticipated.

Dampak Insentif Pajak Perumahan Terhadap Potensi Penerimaan Pajak Negara Dan Peningkatan Pendapatan Masyarakat : Kasus Provinsi Papua

2016 ◽  
Vol 1 (1) ◽  
pp. 13-22
Author(s):  
Towaf Totok Irawan
Keyword(s):  
Low Income ◽  
House Prices ◽  
Tax Incentives ◽  
High Price ◽  
Short Term ◽  
Primary Input ◽  
State Revenue ◽  
Long Run ◽  
The Government ◽  
The Impact

Until now the government and private sector have not been able to address the backlog of 13.5 million housing units for ownership status and 7.6 million units for residential status. The high price of land has led to the high price of the house so that low-income communities (MBR) is not able to reach out to make a home purchase. In addition to the high price of land, tax factors also contribute to the high price of the house. The government plans to issue a policy for the provision of tax incentives, ie abolish VAT on home-forming material transaction. This policy is expected to house prices become cheaper, so the demand for housing increases, and encourage the relevant sectors to intensify its role in the construction of houses. It is expected to replace the lost tax potential and increase incomes. Analysis of the impact of tax incentives housing to potential state revenue and an increase in people's income, especially in Papua province is using the table IO because in addition to looking at the role each sector can also see the impact on taxes (income tax 21 Pph 25 Pph, VAT), and incomes (wage). Although in the short-term impact is still small, but very rewarding in the long run. Keywords: Backlog, Gross Input, Primary Input, Intermediate Input

Literalism and Moral Status

2018 ◽  
Author(s):  
Carrie Figdor
Keyword(s):  
Moral Status ◽  
Moral Standing ◽  
Short Term ◽  
Long Run ◽  
Moral Boundaries ◽  
Psychological Capacities

Chapter 9 presents the idea that Literalism undermines current social and moral boundaries for moral status. Possession of psychological capacities, moral standing, and respectful treatment are a standard package deal. So either many more beings enjoy moral status than we now think, or the relative superiority of human moral status over other beings is diminished. It introduces the role of psychological ascriptions in drawing social and moral boundaries by examining dehumanization and anthropomorphism. It argues that in the short term Literalism does not motivate us to do more than make minor adjustments to current moral boundaries. We can distinguish the kinds of psychological capacities that matter for moral status from the kinds that best divide nature at its joints. In the long run, however, Literalism prompts us to reconsider the anthropocentric standards that govern current moral boundaries.

scholarly journals Shades between Black and Green Investment: Balance or Imbalance?

2021 ◽  
Vol 13 (9) ◽  
pp. 5024
Author(s):  
 Vítor Manuel de Sousa Gabriel ◽  
María Mar Miralles-Quirós ◽  
José Luis Miralles-Quirós
Keyword(s):  
Risk Factor ◽  
Oil Prices ◽  
Oil Price ◽  
Short Term ◽  
Environmental Indices ◽  
Long Run ◽  
Green Investment ◽  
Bounds Test

This paper analyses the links established between environmental indices and the oil price adopting a double perspective, long-term and short-term relationships. For that purpose, we employ the Bounds Test and bivariate conditional heteroscedasticity models. In the long run, the pattern of behaviour of environmental indices clearly differed from that of the oil prices, and it was not possible to identify cointegrating vectors. In the short-term, it was possible to conclude that, in contemporaneous terms, the variables studied tended to follow similar paths. When the lag of the oil price variable was considered, the impacts produced on the stock market sectors were partially of a negative nature, which allows us to suppose that this variable plays the role of a risk factor for environmental investment.

scholarly journals China’s plastic import ban increases prospects of environmental impact mitigation of plastic waste trade flow worldwide

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Zongguo Wen ◽  
Yiling Xie ◽  
Muhan Chen ◽  
Christian Doh Dinga
Keyword(s):  
Environmental Impact ◽  
Environmental Sustainability ◽  
Trade Flow ◽  
Plastic Waste ◽  
Sharp Decline ◽  
Short Term ◽  
Long Run ◽  
Global Environmental ◽  
Waste Trade ◽  
Treatment Structure

AbstractSince the late 1990s, the trend of plastic waste shipment from developed to developing countries has been increasing. In 2017, China announced an unprecedented ban on its import of most plastic waste, resulting in a sharp decline in global plastic waste trade flow and changes in the treatment structure of countries, whose impacts on global environmental sustainability are enormous but yet unexamined. Here, through the life cycle assessment (LCA) method, we quantified the environmental impacts of changes in the flow patterns and treatment methods of 6 types of plastic waste in 18 countries subsequent to the ban. In the short term, the ban significantly improved four midpoint indicators of environmental impact, albeit contributed to global warming. An annual saving of about 2.35 billion euros of eco-cost was realized, which is equivalent to 56% of plastic waste global trade value in 2017. To achieve global environmental sustainability in the long run, countries should gradually realize the transition from export to domestic management, and from landfill to recycling, which would realize eco-costs savings of about 1.54–3.20 billion euros.

The reflexive turn in key account management

2014 ◽  
Vol 48 (11/12) ◽  
pp. 2071-2104 ◽  
Author(s):  
Markus Vanharanta ◽  
Alan J.P. Gilchrist ◽  
Andrew D. Pressey ◽  
Peter Lenney
Keyword(s):  
Empirical Studies ◽  
Negative Relationship ◽  
Success Rates ◽  
Key Account Management ◽  
Content Type ◽  
Account Management ◽  
Long Run ◽  
Key Account ◽  
And Performance ◽  
The Uk

Purpose – This study aims to address how and why do formal key account management (KAM) programmes hinder effective KAM management, and how can the problems of formalization in KAM be overcome. Recent empirical studies have reported an unexpected negative relationship between KAM formalization and performance. Design/methodology/approach – An 18-month (340 days) ethnographic investigation was undertaken in the UK-based subsidiary of a major US sports goods manufacturer. This ethnographic evidence was triangulated with 113 in-depth interviews. Findings – This study identifies how and why managerial reflexivity allows a more effectively combining of formal and post-bureaucratic KAM practices. While formal KAM programmes provide a means to initiate, implement and control KAM, they have an unintended consequence of increasing organizational bureaucracy, which may in the long-run hinder the KAM effectiveness. Heightened reflexivity, including “wayfinding”, is identified as a means to overcome many of these challenges, allowing for reflexively combining formal with post-bureaucratic KAM practices. Research limitations/implications – The thesis of this paper starts a new line of reflexive KAM research, which draws theoretical influences from the post-bureaucratic turn in management studies. Practical implications – This study seeks to increase KAM implementation success rates and long-term effectiveness of KAM by conceptualizing the new possibilities offered by reflexive KAM. This study demonstrates how reflexive skills (conceptualized as “KAM wayfinding”) can be deployed during KAM implementation and for its continual improvement. Further, the study identifies how KAM programmes can be used to train organizational learning regarding KAM. Furthermore, this study identifies how and why post-bureaucratic KAM can offer additional benefits after an organization has learned key KAM capabilities. Originality/value – A new line of enquiry is identified: the reflexive-turn in KAM. This theoretical position allows us to identify existing weakness in the extant KAM literature, and to show a practical means to improve the effectiveness of KAM. This concerns, in particular, the importance of managerial reflexivity and KAM wayfinding as a means to balance the strengths and weaknesses of formal and post-bureaucratic KAM.

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