scholarly journals Fontes de Caixa e Restrições Financeiras: Evidências das Firmas Listadas na BM&FBOVESPA

2015 ◽  
Vol 13 (3) ◽  
pp. 470
Author(s):  
Leonardo Chalhoub ◽  
Guilherme Kirch ◽  
Paulo Renato Soares Terra
Keyword(s):  
Panel Data ◽  
Least Squares ◽  
Cash Flow ◽  
Least Squares Method ◽  
Market Information ◽  
Publicly Traded ◽  
Listed Firms ◽  
The Past ◽  
Operating Cash Flow

The Finance literature offers evidence that, in Brazil as in the U.S.A., publicly traded firms save more and more cash over the past decades. Using a panel data formed by accounting and market information from listed firms in BM&FBOVESPA from 1995 to 2013 and the model proposed by McLean (2011), estimated by the least squares method, this study aims to gather evidence on the sources of cash retained by companies in the Brazilian market. The results suggest that shares issuance, debt and operating cash flow have positive and significant correlation with the change in cash savings and that operating cash flow is the main source of cash for Brazilian firms. About the role of precautionary motives for the retention decision, evidence was found that in times of growth in these motives, the constrained group retains more from operating cash flow.

Investment decisions and the role of debt, liquid assets and cash flow: evidence from Italian panel data

1994 ◽  
Vol 4 (2) ◽  
pp. 121-132 ◽  
Author(s):  
Marzio Galeotti ◽  
Fabio Schiantarelli ◽  
Fidel Jaramillo
Keyword(s):  
Panel Data ◽  
Cash Flow ◽  
Investment Decisions

scholarly journals Effect of Operating Cash Flow on Stock Return of Firms Listed In Nairobi Security Exchange

2021 ◽  
Vol 6 (1) ◽  
pp. 26-35
Author(s):  
Samoei Ben Kipngetich ◽  
Joel Tenai ◽  
Andrew Kimwolo
Keyword(s):  
Panel Data ◽  
Stock Returns ◽  
Cash Flow ◽  
Stock Return ◽  
Random Effect ◽  
Random Effect Model ◽  
Secondary Data ◽  
Cash Flows ◽  
Free Cash Flow ◽  
Operating Cash Flow

The main aim of the paper was to establish the effect of operating cash flow on stock return of firms listed in NSE. The study was informed by Free Cash Flow (FCF) theory. Census survey was adapted to review financial statements for 29 listed non-financial firms at NSE that had consistent data for all the study variables. Secondary data was extracted for 12 years from 2007-2019 with the aid of a data collection sheet. Explanatory research design which is panel in nature was followed by this study. Both descriptive and inferential statistics were used in data analysis. Panel data regression was used to make inferences and test research hypothesis. Fixed and Random effects methods were used to analyze the balanced panel data using STATA statistical package and Hausman test established that Random effect model was the most ideal method to analyze data in this study. The findings indicated that operating cash flow positively and significantly influenced the stock returns for firms listed at NSE. The study concludes that operating cash flow information affects stock returns. Therefore, the study advocates for firms to increase their levels of operating cash flows through prudent utilization of cash resources since it enhances the stock returns.

Does board gender enhance Palestinian firm performance? The moderating role of corporate social responsibility

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammed W.A. Saleh ◽  
Mohammad A.A. Zaid ◽  
Rabee Shurafa ◽  
Zaharaddeen Salisu Maigoshi ◽  
Marwan Mansour ◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Firm Performance ◽  
Panel Data ◽  
Social Responsibility ◽  
Gender Diversity ◽  
Content Type ◽  
Listed Firms ◽  
Board Gender Diversity ◽  
Corporate Social

Purpose This study aims to examine how the salient board gender diversity among board directors affects firm performance both directly and indirectly, through the role of corporate social responsibility (CSR) in listed firms on the Palestine Stock Exchange over the period 2010–2017. Design/methodology/approach Based on panel data of 384 observations from all firms listed on the Palestine Security Exchange during the period from 2010 to 2017, this study uses panel data regression to examine the effect of the predictors on firm performance. In addition, to mitigate the endogeneity issue, the analysis was repeated by using one-step generalized method of moments. Findings The results show that board gender diversity has a positive and insignificant influence on firm performance. However, under the moderating effect of CSR, the finding turns from positive insignificant to positive significant. Originality/value The study is timely given that gender diversity plays pivotal roles in determining the performance in terms of monitoring and controlling and further willing to engage in social responsibility. The prior research in Palestine has never investigated the effect of board gender diversity. As such, Palestine has not established a legal quota of minimum female representation on boards, and because of it, the country has weak women’s representation among firms. It, therefore, becomes a necessity to examine the influence of board gender diversity on the financial performance of listed firms in Palestine. Besides, the mixed result in previous literature on the board gender diversity and firm performance indicates that there is an indirect effect that needs alternative explanations.

scholarly journals The Effect of Corporate Governance and Ownership Structure on Financial Performance of Listed Companies in Nepal

2019 ◽  
Vol 12 (1) ◽  
pp. 1-18
Author(s):  
Surya Bahadur G. C. ◽  
Ravindra Prasad Baral
Keyword(s):  
Corporate Governance ◽  
Panel Data ◽  
Least Squares ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Listed Companies ◽  
Ownership Concentration ◽  
Data Set ◽  
Listed Firms ◽  
And Performance

The paper attempts to analyze relationships among corporate governance, ownership structure and firm performance in Nepal. The study comprises of panel data set of 25 firms listed at Nepal Stock Exchange (NEPSE) covering a period of five years from 2012 to 2016. The econometric methodology for the study consists primarily of least squares dummy variable (LSDV) model, fixed and random effects panel data models and two-stage least squares (2SLS) model. The study finds bi-directional relationship between corporate governance and performance. Among corporate governance internal mechanisms; smaller board size, higher proportion of independent directors, reducing ownership concentration, improving standards of transparency and disclosure, and designing appropriate director compensation package are important dimensions that listed firms and regulators in Nepal should focus on. Ownership concentration is found to have positive effect on performance; however, it affects corporate governance negatively. This study raises understanding and provides empirical evidence for endogenous relationship between corporate governance and performance and offers support for principal-principal agency relationship. The results of this study lead to several practical implications for listed firms as well as policymakers of Nepal in promoting sound corporate governance practices and codes. For listed companies, the improvement in compliance with a code of corporate governance or voluntary adoption of best practices can provide a means of achieving improved performance.

Progress on the direct-methods solution of macromolecular structures using single-wavelength anomalous-dispersion (SAS) data

1999 ◽  
Vol 55 (4) ◽  
pp. 755-760 ◽  
Author(s):  
David A. Langs ◽  
Robert H. Blessing ◽  
Dongyao Guo
Keyword(s):  
Least Squares ◽  
Least Squares Method ◽  
Heavy Atom ◽  
Direct Methods ◽  
Anomalous Dispersion ◽  
Correct Solution ◽  
Phase Ambiguity ◽  
Practical Applications ◽  
The Past

In the past few years, a number of strategies have been outlined to resolve the SAS phase ambiguity given that unique estimates \omega(h, k) of the triple invariants are available. A new least-squares method is described that can in principle resolve the phase ambiguity to determine macromolecular phases provided that \omega(h, k) estimates are unbiased. Limitations of the method in practical applications are discussed. An example is given where the correct solution can be identified by use of the SAS tangent formula in the instance that traditional SAS phasing methods have lead to an incorrect heavy-atom substructure.

Impacts of airport traffic volumes on house prices of New Zealand’s major regions: A panel data approach

Urban Studies ◽  
2016 ◽  
Vol 54 (12) ◽  
pp. 2800-2817 ◽  
Author(s):  
Wai Hong Kan Tsui ◽  
David Tat Wei Tan ◽  
Song Shi
Keyword(s):  
Panel Data ◽  
Least Squares ◽  
Economic Activity ◽  
House Prices ◽  
Air Travel ◽  
Body Of Knowledge ◽  
Property Prices ◽  
Traffic Volumes ◽  
The Relationship

The direction and mechanisms of the relationship between airport traffic volumes and property prices are somewhat unclear in the literature. This study adds to that body of knowledge by empirically investigating the role of airports as an essential driver of economic activity by creating employment and facilitating air travel between destinations. The two-stage least-squares (2SLS) approach is employed to investigate the link between house prices and the airport traffic volumes of New Zealand’s three key regions and airports (Auckland, Canterbury/Christchurch and Wellington) from July 2004 to December 2014. The empirical findings of the study suggest that airport traffic volumes positively and significantly influence the urban house prices of New Zealand’s three major regions.

Gamification in aquarium context

2018 ◽  
Vol 31 (6) ◽  
pp. 1070-1090 ◽  
Author(s):  
Wee Kheng Tan
Keyword(s):  
Least Squares ◽  
Design Methodology ◽  
Marine Biology ◽  
Least Squares Method ◽  
National Museum ◽  
Marine Animals ◽  
Content Type ◽  
The Past ◽  
Partial Least Squares Method ◽  
Silver Bullet

Purpose The purpose of this paper is to consider issues related to gamification through the non-game aquarium context and explore how the intention of aquarium visitors to play a game that imparts knowledge about marine animals and promotes the conservation of these animals is influenced by visitors’ attitudes toward marine animals, motivations to visit the aquarium and perceptions of the game’s benefits. Design/methodology/approach This study surveyed individuals who have visited Taiwan’s National Museum of Marine Biology and Aquarium at least once in the past three years and who use smartphones. They were shown a description of a hypothetical game scenario that they were asked to imagine to be available while at the aquarium. The partial least squares method was used to analyze the data from 225 returns. Findings The study shows that gamification can satisfy a visitor’s desire to learn and enjoy the aquarium simultaneously. Gamification is limited by the visit motivation and the attitudes toward marine animals that visitors bring with them. The usefulness of gamification is limited when visitors desire relaxation during the visit. Originality/value This study considers the application of gamification in the context of aquariums and the tourism field and the non-technology-related antecedents to the use of gamification. Gamification is not silver bullet for every situation, and a good understanding of potential users is important for its success and targeting of players. The importance of intrinsic benefits over extrinsic benefits is confirmed. Thus, this study addresses several gaps in the gamification literature.

scholarly journals Profitabilitas, Likuiditas, Leverage, Arus Kas Operasi dan Return Saham Syariah pada Perusahaan Jakarta Islamic Index

2017 ◽  
Vol 4 (01) ◽  
pp. 1-12
Author(s):  
Sinta Wardani ◽  
Hermiyetti Hermiyetti ◽  
Muhammad Yusuf
Keyword(s):  
Regression Analysis ◽  
Data Analysis ◽  
Stock Returns ◽  
Cash Flow ◽  
Cash Flows ◽  
Jel Classification ◽  
Future Research ◽  
Operating Cash Flows ◽  
Operating Cash Flow

ABSTRACT This study aims to analyze and believe the factors that affect the return of sharia in the Jakarta Islamic Index. The sample of research is 29 companies with data from 2009-2015. Data analysis using multiple regression analysis. The results showed, liquidity and leverage is not significant significant to the return of sharia stocks. Operating cash flows are significant and positive against Sharia share returns. An interesting finding in this research is the role of operating cash flow as a determinant of stock returns. Future research can be proven the role of cash flow and other financial performance as a determinant of stock returns. A B S T R A K Penelitian ini bertujuan untuk menganalisis dan menguji secara empiris mengenai faktor-faktor yang mempengaruhi return saham syariah di Jakarta Islamic Index. Sampel penelitian sebanyak 29 perusahaan dengan data tahun 2009-2015. Analisis data menggunakan analisis regresi berganda. Hasil penelitian menunjukkan bahwa profitabilitas. likuiditas dan leverage tidak berpengaruh signifikan terhadap return saham syariah. Arus kas operasi berpengaruh signifikan dan positif terhadap return saham syariah. Temuan menarik dalam penelitian ini adalah peran arus kas operasi sebagai penentu return saham. Penelitian mendatang dapat dibuktikan peran arus kas investasi dan pendanaan serta kinerja keuanganlainnya sebagai penentu return saham. JEL Classification: H54, R53

scholarly journals DETERMINATION OF RACE PERFORMANCE’S FACTORS OF ARABIAN PUREBRED TUNISIAN HORSES AND THE IMPACT OF INTRODUCTION OF OCCIDENTAL PUREBRED HORSES INTUNISIA

2021 ◽  
Vol 1 (2) ◽  
pp. 49-53
Author(s):  
Ikram Bensouf ◽  
Naceur M’Hamdi ◽  
Hatem Ouled Ahmed ◽  
Faten Lasfar ◽  
Belgacem Ben Aoun ◽  
...  
Keyword(s):  
Environmental Factors ◽  
Least Squares ◽  
Least Squares Method ◽  
Tunisian Population ◽  
Gender And Age ◽  
Arabian Horse ◽  
The Impact ◽  
Race Performance

The aim of the study is to investigate the effects of age, sex, running distance and origin of horse on racing speed for Purebred Arabian horse in Tunisia. Although the occidental type is known to be more successful in racing than the Tunisian type, we undertook this study to try to confirm or deny this supremacy for a sample of racehorses born in Tunisia from occidental father. A total of 333 racing records were considered for race performance. The effects of environmental factors on (sex, age, father’s origin, race distance, number of race seasons) race performance were analyzed using the least-squares method(LSM).The racehorses studied were all Arabian Purebred horses in operation at the racecourse of Ksar Said from 2010 to 2020. They are 180 horses, 90 horses born of a Tunisian father, and 90 horses born in Tunisia ofthe occidentalfather. These horses are the best and most successful in their category. The study revealed that the gender and age effectswere statistically insignificant onracingperformance. Race performance was significantly influenced by the distance and the origin of the father which affirms the improving role of the occidentalhorse in the Tunisian population.

Identifying the Roles of Accounting Accruals in Corporate Financial Reporting

2021 ◽  
pp. 0148558X2110352
Author(s):  
Sunil Dutta ◽  
Panos N. Patatoukas ◽  
Annika Yu Wang
Keyword(s):  
Cash Flow ◽  
Financial Reporting ◽  
Cash Flows ◽  
Timely Manner ◽  
Operating Cash Flows ◽  
Accounting Accruals ◽  
Operating Cash Flow ◽  
Cash Flow News ◽  
Corporate Financial Reporting

Research in corporate financial reporting identifies two important roles of accounting accruals. First, accruals smooth fluctuations in operating cash flows. Second, accruals allow recognition of losses in an asymmetric timely manner. While these two roles imply different relations between individual accrual components and operating cash flow news, prior research often focuses on the properties of aggregate accruals. We investigate the role of individual accrual components and identify asymmetry in the relation of investment with operating cash flow news as a confounding factor. We show that this investment factor operates through depreciation and amortization accruals, which typically account for the bulk of aggregate accruals. Overall, our article demonstrates the importance of adopting a granular approach to identifying the different roles of individual accrual components.

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