scholarly journals Can fund shareholding inhibit insufficient R&D input?——Empirical evidence from Chinese listed companies

PLoS ONE ◽  
2021 ◽  
Vol 16 (3) ◽  
pp. e0248674
Author(s):  
Xiao Li ◽  
Gang Liu
Keyword(s):  
Financial Management ◽  
Active Role ◽  
Listed Companies ◽  
Investment Funds ◽  
Inhibiting Effect ◽  
Securities Investment Funds ◽  
Innovation Activities ◽  
Financial Failure ◽  
External Governance ◽  
The Impact

Based on the principal-agent theory and the financial management theory, this study analyzes the impact of fund shareholding on corporate insufficient R&D input, and explores the action mechanism of fund shareholding on corporate innovation activities. The results show that fund shareholding is helpful to inhibit the insufficient R&D input. Moreover, this inhibiting effect is mainly reflected in the case of higher risk of financial failure. The further analyses show that the higher level of marketization strengthens the inhibiting effect of fund shareholding on insufficient R&D input. Finally, it is suggested that fund companies should be encouraged to hold shares of listed companies, and the proposal power of fund companies in the shareholders’ meeting should be appropriately enhanced. And it is suggested that the regulators continue to promote the development of securities investment funds, and guide fund shareholding to play an active role in external governance. Also, it is suggested that the regulators promote the process of regional marketization, to strengthen the positive effect of fund shareholding on innovation activities.

scholarly journals The Impact of Religious Atmosphere on Corporate Governance: An Empirical Study Based on the Number of Temples around Listed Companies

2021 ◽  
Vol 7 (3) ◽  
pp. p11
Author(s):  
Kaikai Liu ◽  
Xinyi Wang ◽  
Jingjing Liang
Keyword(s):  
Corporate Governance ◽  
Empirical Study ◽  
Religious Belief ◽  
Religious Tradition ◽  
Active Role ◽  
Listed Companies ◽  
Economic Behavior ◽  
Risk Averse ◽  
Religious Traditions ◽  
The Impact

Religious belief can affect individual’s behavior. It usually induces managers to be more risk averse, thereby mitigating the agency problem and positively influencing governance. This paper conducts an empirical study to analysis the effect of religious atmosphere on corporate governance. It could be figured out that strong religious atmosphere plays an active role in corporate governance. The stronger the influence of religious tradition on listed companies, the less likely the managers are to violate the rules. Through precepts and deeds, these religious traditions are passed on from generation to generation and have become a significant factor affecting human economic behavior.

scholarly journals Social Responsibility, Institutional Environment and Stock Price Crash Risk: Evidence from Chinese GEM

2021 ◽  
Vol 9 (2) ◽  
pp. p1
Author(s):  
Zhou Yuying ◽  
Wang Yuyu
Keyword(s):  
Social Responsibility ◽  
Stock Price ◽  
Institutional Environment ◽  
Listed Companies ◽  
Crash Risk ◽  
First Year ◽  
Real Economy ◽  
Inhibiting Effect ◽  
Growth Enterprise Market ◽  
The Impact

The stock price crash risk has become the focus of corporate finance and macroeconomics research in recent years because it affects the stock market, listed companies, market investors and the real economy. This paper takes 1822 gem listed companies from 2011 to 2017 as samples, and empirically tests the impact of social responsibility on the risk of stock price collapse and takes into account the regulatory effect of institutional environment. The study finds that social responsibility can inhibit the stock price collapse risk of listed companies on the growth enterprise market, and the institutional environment can also inhibit the risk of stock price collapse of listed companies on the growth enterprise market. Considering the influence of the institutional environment, the influence of social responsibility on the risk of stock price collapse of listed companies on the growth enterprise market is more obvious, which shows that the institutional environment has a moderating effect between social responsibility and the risk of stock price collapse. This conclusion still exists after considering the endogenous influence. Further research shows that the inhibiting effect of social responsibility and the regulating effect of institutional environment are more obvious among gem listed companies in the first year of listing.

scholarly journals The equity pledge of major shareholders and innovation investment -- Based on the empirical data of GEM listed companies

2021 ◽  
Vol 292 ◽  
pp. 02041
Author(s):  
Li Jingning
Keyword(s):  
Internal Control ◽  
Empirical Data ◽  
Control Level ◽  
Listed Companies ◽  
Inhibiting Effect ◽  
Enterprise Innovation ◽  
The Impact

This paper takes China’s GEM listed companies from 2007 to 2020 as the research object, and empirically tests the impact of equity pledge of major shareholders on enterprise innovation investment. It is found that the equity pledge of major shareholders will restrain the innovation investment of enterprises. Further research finds that enterprises with high internal control level, the inhibiting effect of equity pledge of major shareholders on innovation investment will be weakened, that is, internal control plays a negative regulating role.

scholarly journals Internal Control, External Audit and Corporate Cash Flow Risk

2021 ◽  
Vol 292 ◽  
pp. 02016
Author(s):  
Wanting Liu ◽  
Qianyu Zhao ◽  
Gang Fu
Keyword(s):  
Cash Flow ◽  
Internal Control ◽  
Listed Companies ◽  
Governance Mechanisms ◽  
High Quality ◽  
External Audit ◽  
External Resources ◽  
External Governance ◽  
Cash Flow Risk ◽  
The Impact

Based on the sample of A-share listed companies in Shanghai and Shenzhen from 2014 to 2019, this paper empirically tests the impact of internal control and external audit on corporate cash flow risk and the interaction between the two in affecting cash flow risk. The results show that high-quality internal control and external auditing can independently reduce corporate cash flow risks, and the two play a substitute effect in this process. The research conclusions expand the impact of the company’s internal and external governance mechanisms on cash flow risks, and are of great significance for companies to effectively use internal and external resources to prevent and manage cash flow risks.

scholarly journals Research on the Psychological Expectation Impact on Enterprise Innovation Under Mergers and Acquisitions Pressure: From the Evidence of Large Stock Dividends

2021 ◽  
Vol 12 ◽  
Author(s):  
XueWen Kuang ◽  
ZeYu Li ◽  
He Lin
Keyword(s):  
Mergers And Acquisitions ◽  
Listed Companies ◽  
High Tech ◽  
Short Term ◽  
Stock Liquidity ◽  
Inhibiting Effect ◽  
Chinese Listed Companies ◽  
Enterprise Innovation ◽  
Stock Dividends ◽  
The Impact

From the perspective of social psychology, takes the large stock dividends policy of Chinese listed companies as an example, based on the sample of Chinese listed companies from 2009 to 2018, this article examines the impact of psychological expectation under the mergers and acquisitions (M&A) pressure on enterprise innovation. The empirical study finds that the high dividend payout mainly increases the liquidity of the stock, which makes the company face a greater risk of hostile merger and acquisition, and thus causes the management to pay attention to the psychological preference of short-term effect, and reduces the level of enterprise R&D and innovation. Moreover, the above conclusion is still true after controlling the endogenetic problem. Further research shows that in private enterprises, enterprises with low ownership concentration and non-high-tech enterprises, large stock dividends has a more obvious inhibiting effect on the level of enterprises’ R&D and innovation. After excluding the possible of agency problem, the conclusion is still robust. This article expands the research on the influencing factors of enterprise innovation from the perspective of psychological expectation. The findings of this study provide references and inspirations for facilitating enterprise innovations by reducing short-sighted behaviors of management under increased stock liquidity.

Comprehensive Income: which potential effects on firms' performance evaluation and users' decision process?

2016 ◽  
pp. 55-94
Author(s):  
Pier Luigi Marchini ◽  
Carlotta D'Este
Keyword(s):  
Performance Evaluation ◽  
Decision Process ◽  
Financial Analysts ◽  
Listed Companies ◽  
Financial Statement ◽  
Comprehensive Income ◽  
Other Comprehensive Income ◽  
Gains And Losses ◽  
The Impact

The reporting of comprehensive income is becoming increasingly important. After the introduction of Other Comprehensive Income (OCI) reporting, as required by the 2007 IAS 1-revised, the IASB is currently seeking inputs from investors on the usefulness of unrealized gains and losses and on the role of comprehensive income. This circumstance is of particular relevance in code law countries, as local pre-IFRS accounting models influence financial statement preparers and users. This study aims at investigating the role played by unrealized gains and losses reporting on users' decision process, by examining the impact of OCI on the Italian listed companies RoE ratio and by surveying a sample of financial analysts, also content analysing their formal reports. The results show that the reporting of comprehensive income does not affect the financial statement users' decision process, although it statistically affects Italian listed entities' performance.

The Role of Web Based Accounting Online System 2.0 as the Company's Income and Expense Management

2017 ◽  
Vol 1 (1) ◽  
pp. 44-49
Author(s):  
Nur Azizah ◽  
Dedeh Supriyanti ◽  
Siti Fairuz Aminah Mustapha ◽  
Holly Yang
Keyword(s):  
Financial Management ◽  
Accounting System ◽  
Bank Account ◽  
Web Based ◽  
Online System ◽  
Version 2.0 ◽  
User Friendly ◽  
The Impact ◽  
A Company

In a company, the process of income and expense of money must have a profit-generating goal base. The success of financial management within the company, can be monitored from the ability of the financial management in managing the finances and utilize all the opportunities that exist with as much as possible with the aim to control the company's cash (cash flow) and the impact of generating profits in accordance with expectations. With a web-based online accounting system version 2.0, companies can be given the ease to manage money in and out of the company's cash. It has a user friendly system with navigation that makes it easy for the financial management to use it. Starting from the creation of a company's cash account used as a cash account and corporate bank account on the system, deletion or filing of cash accounts, up to the transfer invoice creation feature, receive and send money. Thus, this system is very effective and efficient in the management of income and corporate cash disbursements.   Keywords:​Accounting Online System, Financial Management, Cash and Bank

PERTANGGUNGJAWABAN KERUGIAN NEGARA DALAM PENGELOLAAN KEUANGAN DAERAH

EDUKASI ◽  
2018 ◽  
Vol 16 (1) ◽  
Author(s):  
Hendra Karianga
Keyword(s):  
Financial Management ◽  
Criminal Liability ◽  
The State ◽  
Legal Proceedings ◽  
Regional Finance ◽  
Regional Budget ◽  
State Finance ◽  
Budget Policy ◽  
Definition Of ◽  
The Impact

Sources of revenue and expenditure of APBD (regional budget) can be allocated to finance the compulsory affairs and optional affairs in the form of programs and activities related to the improvement of public services, job creation, poverty alleviation, improvement of environmental quality, and regional economic growth. The implications of these policies is the need for funds to finance the implementation of the functions, that have become regional authority, is also increasing. In practice, regional financial management still poses a complicated issue because the regional head are reluctant to release pro-people regional budget policy, even implication of regional autonomy is likely to give birth to little kings in region causing losses to state finance and most end up in legal proceedings. This paper discusses the loss of state finance and forms of liability for losses to the state finance. The result of the study can be concluded firstly,  there are still many differences in giving meaning and definition of the loss of state finace and no standard definition of state losses, can cause difficulties. The difficulty there is in an effort to determine the amount of the state finance losses. The calculation of state/regions losses that occur today is simply assessing the suitability of the size of the budget and expenditure without considering profits earned by the community and the impact of the use of budget to the community. Secondly, the liability for losses to the state finance is the fulfillment of the consequences for a person to give or to do something in the regional financial management by giving birth to three forms of liability, namely the Criminal liability, Civil liability, and Administrative liability.Keywords: state finance losses, liability, regional finance.

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