II. FINANCIAL FACTORS AFFECTING SMALL AND MEDIUM BUSINESSES IN INDONESIA

1986 ◽  
pp. 17-56
Keyword(s):  
Factors Affecting ◽  
Financial Factors ◽  
Medium Businesses

scholarly journals Financial Factors Affecting Earnings Management and Earnings Quality: New Evidence from an Emerging Market

2020 ◽  
Vol 9 (1) ◽  
pp. 198-216
Author(s):  
Isam Saleh ◽  
Malik Abu Afifa ◽  
Fadi Haniah
Keyword(s):  
Earnings Management ◽  
Emerging Market ◽  
Earnings Quality ◽  
Panel Data Analysis ◽  
Insurance Companies ◽  
Policy Makers ◽  
Factors Affecting ◽  
Financial Factors ◽  
Study Population ◽  
New Evidence

The purpose of this study is to examine the effect of financial factors on earnings management and earnings quality. Moreover, the study examines the role of earnings management as a mediator in the effect of the financial factors on earnings quality. It provides some empirical evidences from an emerging market, especially from the Jordanian market. The study uses a panel data analysis method over a ten-year period (2009-2018). The study population includes all Jordanian insurance companies listed in Jordanian market at the end of the year 2019, and the study sample consists of 20 Jordanian insurance companies (a complete population), giving a total of 200 observations for each variable. The results indicate that all financial factors in the model combined affect the earnings management and earnings quality. In addition, earnings management negatively affects earnings quality, and earnings management fully mediates the effect of financial factors on earnings quality. The study advises that policy makers ought to follow good legislation to curb the company's earnings management activities. Hence, the policy makers need to apply regulations which enrich the company’s effectiveness and efficiency whilst protecting the investors and other interested parties from risk.

Financial Factors Affecting Price-to-Earnings Ratios in Canada

2021 ◽  
Vol 6 (2) ◽  
pp. 43-61
Author(s):  
Natalia Popa Antalovschi ◽  
Raymond A. K. Cox
Keyword(s):  
Financial Reporting ◽  
Stock Prices ◽  
Stock Exchange ◽  
Fiscal Year ◽  
Unique Contribution ◽  
Policy And Practice ◽  
Factors Affecting ◽  
Financial Factors ◽  
Natural Logarithm ◽  
Forward Price

Purpose: The purpose of this study is to ascertain which financial factors affect the price-to-earnings ratios of Canadian firms. Methodology: A sample of 578 Canadian firms, across 11 industries, listed on the Toronto Stock Exchange during 2011 to 2018 is examined. Stock prices and financial statements accounts data is collected from S & P Capital IQ. We compute 27 financial factors to use as independent variables to regress on the price-to-earnings ratio dependent variables employing the Statistical Package for Social Sciences (SPSS) utilizing the software program’s forced, forward, and backward selection methods. Robustness tests are conducted using alternative dates (after the fiscal year end) to discover which model of financial factors best explains the forward price-to-earnings ratio as well as other statistical methods such as analysis of variance. Results: We find a unique model for each of the 3 models based on the forward price-to-earnings ratio date. The financial factors that explain each of the dates after the end of the fiscal year (1 month, 2 months, and 3 months) are the 4 variables: net profit margin, return on investment, total asset turnover, and the natural logarithm of the total assets. For model 3 (1 month after fiscal year end), in addition to the previous 4 factors, the dividends per share is part of the regression equation. All 3 models have strong statistically significant results at an alpha level of one percent. Further, industry effects are deduced and presented. Unique contribution to theory, policy, and practice: The results are unique to a Canadian sample of firms post- International Financial Reporting Standards (IFRS) adoption. Companies can utilize the empirical findings to manage their financial performance to maximize their price-to-earnings ratio. A product of a firm’s higher price-to-earnings ratio is a lower cost of capital which expands the corporation’s investment opportunities. Investors can apply this research to develop investment strategies hinged on price-to-earnings ratios to augment investment returns.

scholarly journals Financial and Non-financial Factors Affecting Board Size of the Listed Firms in Vietnam

2020 ◽  
Vol 11 (2) ◽  
pp. 187
Author(s):  
Nguyen Vinh Khuong ◽  
Phung Anh Thu ◽  
Do Thi Thu Lieu ◽  
Tran Thi Phuong Anh ◽  
Nguyen Thi My Giau ◽  
...  
Keyword(s):  
Empirical Evidence ◽  
Research Method ◽  
Quantitative Research ◽  
Board Independence ◽  
Corporate Management ◽  
Factors Affecting ◽  
Listed Firms ◽  
Financial Factors ◽  
Board Of Director ◽  
Management Policies

The study contributes by providing empirical evidence on the extent to which financial and non-financial factors affect the size of the board of director of listed firms in Vietnam. Based on the data from 80 listed firms on the Vietnam’s stock market in 11 years from 2007-2017, using quantitative research method. We concluded that financial and non-financial factors affect board independence of listed firms in Vietnam. From the research results, it is recommended that listed companies have reasonable and effective corporate management policies, consistent with accounting policies at enterprises.

An Empirical Study on the Financial Competitiveness Evaluation System of Stock Exchange Listed SMEs of Gujarat, India

2019 ◽  
Vol 46 (4) ◽  
pp. 256-263
Author(s):  
Nikita Mehta ◽  
Mamta Brahmbhatt
Keyword(s):  
Evaluation System ◽  
Stock Exchange ◽  
Small And Medium Enterprises ◽  
Principal Component ◽  
Factors Affecting ◽  
Financial Factors ◽  
Management Efficiency ◽  
Major Factors ◽  
Medium Enterprises ◽  
Financial Competitiveness

The purpose of this study is to identify the financial factors that enhance the financial competitiveness of small and medium enterprises (SMEs) in Gujarat, India. The principal component analysis has been applied to extract the financial factors from financial performance ratios of a sample size of 38 stock exchange SMEs, based in Gujarat, India. The ranking has been given to the SMEs based upon their factor score and comprehensive score. The results show that profitability, management efficiency, liquidity and leverage factors are the major factors affecting the financial competitiveness of SMEs. The study covers only one state of the country, and the findings from different states may differ and need to get verified. Despite the highest contribution of SMEs in the GDP of India, there exist very few Indian studies on SME competitiveness. This study contributes to filling this gap.

scholarly journals Non-financial factors affecting livestock farm’s performance in meat supply chain

New Medit ◽  
2021 ◽  
Vol 20 (4) ◽  
Author(s):  
Keyword(s):  
Supply Chain ◽  
Information Sharing ◽  
Structural Equation ◽  
Information Quality ◽  
Positive Association ◽  
Opportunistic Behavior ◽  
Factors Affecting ◽  
Financial Factors ◽  
Test Study ◽  
Factors Affecting Performance

This article investigates non-financial factors affecting performance of livestock farms in the meat supply chain in Albania. A structured questionnaire was developed to collect data in three main regions of Albania (Tirana, Korça and Lushnje). Confirmatory factor analysis is used to develop measures for the non-financial factors (i.e. trust, contracts, opportunistic behavior, information sharing and information quality) and Structural Equation Modelling is employed to test study hypotheses. The result shows that trust is positively associated with farm’s performance. On the other hand, communication (i.e. resulting from the merge of information sharing and information quality) is negatively associated with performance. However, communication appears to have a positive association with farm’s performance indirectly through its effect on trust. Thus, it can be deducted that communication builds trust and trading relationship based on trust show higher levels of farm’s performance. Lastly, contracts and opportunistic behavior do not show any significant association with farm’s performance.

Review of Causes of Delay in Construction Projects

2020 ◽  
Vol 17 (2) ◽  
pp. 715-728
Author(s):  
Abdulhamid Al-Gheth ◽  
Md. Sayuti Bin Ishak
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Research Study ◽  
Project Delivery ◽  
International Studies ◽  
Exploratory Research ◽  
Factors Affecting ◽  
Project Completion ◽  
Financial Factors ◽  
Main Factors

Globally, construction delay is the main factors which have a high impact on countries’ economy and development. The present paper reports an exploratory research study of previous international research into delay factors affecting project delivery. The objective of this study was to deliver an overview of construction delays in order to classify the main groups of delays and compare the UAE construction industry with international studies. In total, 14 groups were found to contribute to causing construction delays. Studies of the global and UAE construction industry are in agreement that the leading group of factors that affect project completion are management factors; then, the second group comprises financial factors.

scholarly journals Factors Affecting Business Failure of Small and Very Small Greek Family Enterprises

2020 ◽  
Vol 9 (2) ◽  
pp. 35
Author(s):  
Nikolaos Arnis ◽  
Kostas Karamanis ◽  
Georgios Kolias
Keyword(s):  
Small Firms ◽  
Bank Lending ◽  
Cash Flows ◽  
Business Failure ◽  
Data Set ◽  
Factors Affecting ◽  
Financial Factors ◽  
Family Enterprises ◽  
Financial Failure ◽  
Accounting Ratios

This article investigates the factors that lead small and very small Greek businesses to financial failure using financial and accounting ratios as well as corporate governance characteristics. Our data set consists of 136 small and very small firms that went bankrupt, which were matched with a sample of 472 non bankrupt enterprises formed by random selection based on year, sector and sub-sector determinants, from 2003 to 2014. The total firm-year observations for bankrupt and non bankrupt companies were 940 and 5,041 respectively. Applying a Logit model for panel data, the results showed a significant impact on the likelihood of small and very small firms failing due to factors such as the type and the amount of bank lending, the level of profitability, cash flows, and liquidity.The data also support a statistically significant correlation of the probability of failure with non-financial factors such as Duality on the Board and CEO gender.The results of this paper will be useful for both banks and managers of small and micro businesses.

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