scholarly journals Empirical Relationship of Company's Intangible Resources and Corporate Financial Performance- A Panel Data Approach

2021 ◽  
Vol 9 (6) ◽  
pp. 1533-1543
Author(s):  
Vikram Jeet ◽  
Parvesh Kumar Aspal
Keyword(s):  
Panel Data ◽  
Financial Performance ◽  
Empirical Relationship ◽  
Corporate Financial Performance ◽  
Intangible Resources ◽  
Relationship Of

scholarly journals PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CSR DAN GCG SEBAGAI VARIABEL PEMODERASI

2010 ◽  
Vol 10 (2) ◽  
pp. 41
Author(s):  
Hidayatullah ,
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Stock Exchange ◽  
Value Added ◽  
Corporate Financial Performance ◽  
Corporate Value ◽  
Moderating Variables ◽  
Good Corporate Governance ◽  
Relationship Of ◽  
The Relationship

<p class="Style1">This Thesis investigated the influence of financial performance toward corporate value by exposing Corporate Sosial Responsibility (CSR) and Good Corporate Governance (GCG) as Moderating Variables. Corporate Financial performance as independent variable is represented by the Financial Value Added (FVA) and Corporate Value as Dependent Variable is represented by Tobin `s Q value. CSR value is indexed based on the 78 items of exposure themes and GCG value is indexed using the 18 items of exposure themes which the researcher called Corporate Governance Perception Index. After selecting 149 companies listed in Indonesia Stock Exchange, the researcher found 39 manufacture companies<sup>.</sup>  qualified as the research objects based on the defined criteria, with observation timeframe from the year of2005 to 2008. The result of the research concludes that: Financial Performance (FVA) significantly influences the corporate value (Tobins 'Q); Corporate Sosial Responsibility also influences the relationship of corporate financial performance and the corporate value; and Good Corporate Governance influences the relationship of corporate financial performance and the corporate value as well.</p><p class="Style1">Keywords: Financial value Added, Tobin 's Q, CSR, GCG</p>

Family firms propensity to lean innovation in the emerging economy: a moderating role of executive's compensation

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Zulfiqar ◽  
Muhammad Usman Yousaf ◽  
Md Rashidul Islam ◽  
Sadeen Ghafoor
Keyword(s):  
Panel Data ◽  
Executive Compensation ◽  
Family Firms ◽  
Panel Data Analysis ◽  
Empirical Relationship ◽  
Agency Cost ◽  
Content Type ◽  
Relationship Of ◽  
Moderating Role

PurposeThe purpose of this study is to investigate the empirical relationship between family firms and lean innovation (i.e. generating more output with less input) as well as the moderating role of the executive's compensation.Design/methodology/approachPanel data for ten years (2007–2016) have been collected from the CSMAR database. This study concludes the findings using descriptive statistics, correlation and panel data analysis techniques applying statistical software STATA.FindingsResults show that family firms are not motivated to follow lean innovation strategies until unless the executives are compensated well. We further find that family firms are more likely to pursue a lean innovation strategy, and they demonstrate a superior record of converting R&D inputs as granted patents, and; both input and output innovation are significantly affected by executive compensations. However, this study shows an insignificant negative relationship of propensity to patents with the moderating effects of executive compensation.Research limitations/implicationsThis research has been conducted on the emerging Chinese market. The study is useful for policymakers and managers to devise such strategies which can make the role of executive's more effective to reduce the agency cost and reap the benefits of innovation input more effectively (Petersen, 2009). Also, family firms are heterogeneous, and the research outcome may be applicable for both advanced and emerging economies.Originality/valueThe previous family firm's research paid less attention to the role of the executive's compensation on the relationship of family firms and lean innovation. Moreover, they prioritize insight into how executive's compensation affects different proxies of innovation. This study sheds new light on the paradoxical findings of family firms and lean innovation by analyzing the significant role of executive compensation.

Does original region institutional quality matter?

2014 ◽  
Vol 5 (1) ◽  
pp. 2-24
Author(s):  
Erming Xu ◽  
Hui Yang
Keyword(s):  
Panel Data ◽  
Financial Performance ◽  
Level Structure ◽  
Institutional Quality ◽  
Product Market ◽  
Corporate Financial Performance ◽  
Content Type ◽  
Positive Effects ◽  
Original Region ◽  
H Share

Purpose – Although it has been proved in the macro level, that institutional quality (IQ) has significant influence on a country's economic growth, international trading, resource allocation, development strategy and others, its direct influence on micro level, or firm level still remains ambiguous. In this article, the authors aim to focus on the influence of IQ of a company's original region on its financial performance. The authors choose H share companies as the sample and try to answer an interesting question that whether original region matters during the development of a company in abroad stock market. Design/methodology/approach – This article uses a panel data of 120 H share firms, each ranges from 2005 to 2009. First, the authors use sectional analysis by SPSS19.0 to test the correlations and primary relationship among variables. Then, the authors use ordinary linear square (OLS) regression model to test the hypotheses with cross-sectional to reveal the primary results. In the end, the authors use STATA 11.0 to test panel data to decide the final results. Findings – The authors concluded that private sector development and product market development have positive effects on corporate financial performance, while laws and regulations development have negative effect. Type of the first shareholder plays an important role partly between region IQ and corporate financial performance: to governance-CFP relationship, non-state shareholders perform better than state ones; to product market-CFP relationship, state shareholders perform better non-state ones. Practical implications – In practices perspective, this conclusion is also inspirative. This study has implications for executives, too, and should help them to better manage their ownership structure. The results suggest that managers should choose first shareholder with critical thinking. Another way, this study has implications for governments-company interactions. It suggests that governments should engage in building an institution with high quality, so that every company will benefit from it. Originality/value – This article is the first research on region-level relationship between IQ and corporate financial performance, which is consistent with the multi-level structure of institution concept. And the authors employ H share companies as the sample, which revealed more about the conflict between governance and market embedded in regional institution.

scholarly journals Investing In Corporate Social Responsibility, Banking Disclosure And Finance In Uzbekistan

2021 ◽  
Vol 3 (05) ◽  
pp. 86-94
Author(s):  
Odilov Akmal Odilovich ◽  
◽  
Jo’rayev Behzod Nuraliyevich ◽  
Keyword(s):  
Corporate Social Responsibility ◽  
Panel Data ◽  
Social Responsibility ◽  
Financial Performance ◽  
Developing Country ◽  
Fixed Effects ◽  
Corporate Financial Performance ◽  
Data Set ◽  
Strategic Csr ◽  
Corporate Social

Using panel data set from banks in Uzbekistan, a developing country, this paper examines the effects of corporate social responsibility (CSR) investment and disclosure on corporate financial performance. The results from the Wallace and Hussain estimator of component variances (a two- way random and fixed effects panel) suggest that CSR investment without due disclosure would have little or no contribution to corporate financial performance. This paper supports the argument that firms could benefit both financially and non-financially from a strategic CSR agenda.

Financial impact of stakeholder policy in conditions of economic instability: An empirical analysis of panel data

2020 ◽  
Vol 19 (4) ◽  
pp. 764-779
Author(s):  
I.R. Badykova
Keyword(s):  
Panel Data ◽  
Social Responsibility ◽  
Financial Performance ◽  
Fixed Effects ◽  
Corporate Financial Performance ◽  
Informational Efficiency ◽  
Long Run ◽  
The Social ◽  
Education And Development ◽  
Corporate Social

Subject. The article deals with a policy towards corporate stakeholders as a tool to enhance financial performance. Objectives. The study aims at conceptualizing and presenting in a systematic way the accumulated knowledge on stakeholders' impact on business; identifying the influence of employee-related corporate policy on corporate financial performance in conditions of the informationally inefficient Russian market. Methods. I employ general theoretical methods, including synthesis, deduction and induction, quantitative and empirical methods, namely the analysis of balanced panel data based on the application of random-effects and fixed-effects models. Results. I conducted an empirical research to determine the relation between corporate social responsibility towards one of the most important stakeholder groups, i.e. the employees, and the corporate financial performance. The relation between expenditures on employees' education and development and the EBITDA margin was statistically insignificant. The value of coefficient using the core variables is negative for both models. Conclusions. The analysis shows that against the backdrop of prolonged economic stagnation and weak market informational efficiency in Russia, the social responsibility towards company employees as measured by expenses on retraining and professional development has no statistically significant effect on financial performance. It is perceived as a discretionary expenditure, negatively affecting the financial results. However, in efficient financial markets, these expenses are viewed as investments, which in the long run may demonstrate positive results.

scholarly journals Measurement and Determinants of Financial Performance of Modaraba Companies: A Case Study of Pakistan

2021 ◽  
Vol 7 (2) ◽  
pp. 435-457
Author(s):  
Qaisar Maqbool Khan ◽  
Rehana Kouser
Keyword(s):  
Financial Performance ◽  
Negative Correlation ◽  
Empirical Relationship ◽  
Scale Efficiency ◽  
Net Income ◽  
Policy Makers ◽  
Positive Correlation ◽  
Efficiency Measures ◽  
Performance Drivers ◽  
Relationship Of

Purpose: Profitability measurement is a comparative statistic that describes the relationships between overall profit and other financial determinants of the firm. Design/Methodology/Approach: The focus of this study is to measure the technical (TE), pure technical (PTE) and scale efficiency (SE) scores via Data Envelopment Analysis (DEA) of modaraba companies operating in Pakistan. The next stage is to study the empirical relationship between profitability, liquidity, leverage, and macroeconomic performance drivers. Financial statement data for 2010 to 2019 have been analyzed. Findings: Empirical findings of descriptive statistics, correlation and regression were measured. These empirical results reveal that capital ratio (CR) and operating expenses to net income (OENI) had negative correlation with PTE, SE and TE. Whereas the age of the firm had a negative correlation with PTE and TE and positive correlation with SE, moreover, exchange rate (EXC) PKR to USD, log of total assets (LTA) and management expenses (ME) had negative correlation with SE and positive correlation with PTE and TE. Furthermore, inflation (INF) had negative correlation with PTE and positive correlation with SE and TE. Moreover, number of certificates (NOC) had negative correlation with SE and TE and positive correlation with PTE. Implications/Originality/Value: Findings will be helpful to the management and policy makers for enhancing future financial performance by concentrating on these economic factors. More detailed and extensive data from the financial and non-financial aspects is suggested to support the hypothesized relationship of efficiency measures and determinants.

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