scholarly journals Is Listed Corporates Financial Performance Vulnerable? ROE Factors measurement Using DuPont Formula

2019 ◽  
Vol 8 (3) ◽  
pp. 294
Author(s):  
Pascal Ricordel ◽  
Melinda Majlath
Keyword(s):  
Financial Crisis ◽  
Financial Performance ◽  
Financial Reporting ◽  
Market Price ◽  
Asset Turnover ◽  
Negative Role ◽  
Performance Drivers ◽  
Set Up

It’s been 10 years since the last financial crisis, and the rising in stock market price along with record dividends raises deep concerns about the sustainability of listed corporate financial performance. Has the narrow logic of shareholder value been compromising long term financial performance leading to a financial crisis? We question here the DuPont equation to track financial performance drivers over time for discussing about its vulnerability. A disaggregated five-steps DuPont equation is used to set up following drivers: operational profitability, asset turnover, leverage multiplier, interest and fiscal burden. We draw a statistical analysis of those drivers with a panel data of 43 international non-financial corporates from France, Germany, Hungary and Italy between 2012 and 2017. The results stress the role of fiscal burden, interest burden and operational profit as the main ROE driver. Leverage multiplier driver, consensually considered as more financially vulnerable, has played an astonishing negative role. The drop in asset turnover is however the more worried signal as this factor is the most sustainable. Keywords: ROE components, DuPont equation, Financial sustainability, Listed corporate performance, Financial reporting

Awareness and opinion about polycystic ovarian syndrome (PCOS) among young women: a developing country perspective

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Saubhagya Kumar Jena ◽  
Lipsa Mishra ◽  
Sushree Samiksha Naik ◽  
Shahnawaz Khan
Keyword(s):  
Young Women ◽  
Tertiary Care ◽  
Young Patients ◽  
Urban Sector ◽  
Contraceptive Pills ◽  
Validated Questionnaire ◽  
Set Up ◽  
Ovarian Syndrome

AbstractObjectiveTo explore the perception on PCOS and its prevalence among adolescent and young women.MethodsThe study was conducted over 2 year period in a tertiary care teaching hospital from Eastern India. A pre-formed, validated questionnaire was used to record the details. Descriptive statistics was used to report the findings.ResultsOf 965 young patients with mean (SD) age 20.64 (2.1) years, 27 (2.79 %) were aware of an entity called PCOS. Awareness among adolescents with PCOS was 25.9 % (7/27). All aware patients belonged to the urban sector with professionals constituting around 48%, of which 11% were students. The major source of information among aware patients was from doctors (40.7%), and friends and Internet (25.9%); rest being from books, newspapers, and teachers. Majority (70%) were aware that diet restriction and exercise were the primary modalities of treatment, whereas, only 3.7% knew about the role of contraceptive pills in PCOS.ConclusionsAwareness regarding PCOS among the young women is very low mainly in the rural set up. Doctors and health staffs should play a major role in spreading awareness of the entity to prevent long term complications.

Prestige Projects Limited: Challenges in Transitioning to New Accounting Policy

2021 ◽  
Author(s):  
Samir Kumar Barua ◽  
Mahendra R. Gujarathi
Keyword(s):  
Financial Reporting ◽  
Professional Judgment ◽  
Accounting Standard ◽  
Construction Contracts ◽  
Policy Choices ◽  
Accounting Courses ◽  
Business Functions ◽  
Accounting Policy

This case provides an experiential learning opportunity to (a) appreciate the role of professional judgment in accounting policy choices, (b) evaluate the effect of accounting decisions on other business functions, and (c) understand the challenges in transitioning to a new accounting standard. Prestige’s previous auditors were fine with its use of output-based measure (milestones completed) to compute the percentage-of-completion (POC) for its long-term construction contracts. However, the newly appointed auditors recommended Prestige to switch over to input-based measure (costs incurred) to compute POC. Students need to choose the appropriate financial reporting policy considering accounting and non-accounting issues. The case addresses an important context, long-term construction contracts. Although the case setting is in India, it can be used in any country given its GAAP-agnostic nature. The case is best suited for intermediate accounting courses in which the topic of revenue recognition is addressed.

scholarly journals Reaping the Benefits of Long Term Relationship with Suppliers: An Evidence from the Saudi Chemical Industry

2016 ◽  
Vol 11 (8) ◽  
pp. 203
Author(s):  
Khalid M. Al-Shuaibi
Keyword(s):  
Supply Chain ◽  
Structural Equation Modeling ◽  
Financial Performance ◽  
Chemical Industry ◽  
Indirect Effect ◽  
Structural Equation ◽  
Equation Modeling ◽  
Supply Chain Performance

<p>Long term relationship with suppliers is broadly considered a vital contributor to supply chain performance by both practitioners and researchers. This paper investigates the role of long term relationship in strategic supplier partnership and financial performance (SSP-LR-P model). Specifically, it has observed the role of long-term supplier relationship as the driver of integration. Using structural Equation modeling (SEM) to analyze the data from 401 Saudi chemical and petrochemical firms, it is found that strategic supplier partnership has a significant direct and indirect effect on firms’ performance through the mediation of long term relationship.</p>

scholarly journals Understanding the stakeholders’ role in a business failure situation: An empirical boosting approach

2020 ◽  
Vol 23 (1) ◽  
pp. 113-126
Author(s):  
Alba María Priego-de-la-Cruz ◽  
Esteban Alfaro-Cortés ◽  
Montserrat Manzaneque-Lizano
Keyword(s):  
Logistic Regression ◽  
Financial Crisis ◽  
Financial Reporting ◽  
Conflicts Of Interest ◽  
Financial Data ◽  
Business Failure ◽  
Business Managers ◽  
Relative Priority ◽  
Crisis Situations

Este estudio investiga el rol de los stakeholders en situaciones de fracaso empresarial. En concreto, analiza qué stakeholders primarios tienen impacto en la probabilidad de fracaso de una empresa y cómo lo ejercen. También propone un orden de priorización de los stakeholders primarios con la finalidad de ofrecer a los gestores empresariales información útil para que, ante situaciones de crisis financiera, orienten sus decisiones a reducir la aparición de conflictos de intereses que pueden afectar a la sostenibilidad de la empresa a largo plazo. De esta forma, se ha tomado una muestra de 2.352 pymes españolas, 1.176 empresas sanas emparejadas con 1.176 empresas fracasadas, de las que se han extraído datos económico-financieros de sus cuentas anuales y a los que se han aplicado las metodologías de regresión logística y boosting. Los resultados obtenidos indican que los stakeholders primarios tienen efecto estadísticamente significativo en la probabilidad de fracaso empresarial.  Además, los resultados presentan un ranking de stakeholders primarios en relación con su impacto en la probabilidad de fracaso empresarial ante contextos de crisis financiera. De esta forma, este estudio propone una guía útil para los gestores mostrando los roles de los stakeholders primarios ​​y su orden de prioridad ante una situación de fracaso empresarial. We investigate the stakeholders’ role in a business failure situation. In particular, we analyse which primary stakeholders have an impact on the business failure, and how. This work also proposes an order of prioritization of primary stakeholders with the purpose of showing business managers useful information which guides their decisions to reduce the emergence of conflicts of interest that may affect the sustainability of firms long-term in financial crisis situations. We have taken a sample of 2,352 Spanish SMEs, 1,176 non-failed firms matched with 1,176 failed firms, from which economic and financial data are been extracted from their financial reporting. In this vein, logistic regression and boosting methodologies have been applied. The findings indicate that the primary stakeholders have a statistically significant effect on the likelihood of business failure. Furthermore, the results present a ranking of primary stakeholders related to their impact on the likelihood of business failure in contexts of financial crisis. Thus, our study provides a useful guide to managers seeking to understand the primary stakeholders’ roles and their relative priority in business failure.

scholarly journals The Responsible Business:  Corporate Social Responsibility in the Recession

2021 ◽  
Author(s):  
◽  
Isaac Jordan Rodgers
Keyword(s):  
Financial Crisis ◽  
Social Responsibility ◽  
Corporate Strategy ◽  
Social Responsibilities ◽  
Economic Context ◽  
The World ◽  
Business In Society ◽  
The Impact

<p>The 2008 financial crisis and recession crippled some of the largest businesses in the world and caused severe recession across the world. However, prior to the focus on economic recovery, social responsibility and sustainability were major themes in the business world and debate centred on the role of business in society. The key question and area for research was how the financial crisis affected this debate. This thesis uses the financial crisis to explore the role and responsibilities of business. This research is located firmly within the literature on business and society, where the key debates centre on the role of business and the scope of business responsibilities. The literature on social responsibility has a notable gap in the fact that it does not address the impact of economic context on social responsibilities. The methodology of this paper uses a set of twenty-one interviews. These interviews consisted of three sets of seven interviews with different participant groups for each set. The participant groups consisted of consumers, policy managers and business managers. These interviews were analysed for themes through the data analysis method of coding. The findings of this paper suggest that the role of business in society should be focused on the generation of profit and that the recession or other economic influences do not change this role. These findings also suggest that although businesses are responsible only for complying with the law, they should also satisfy their customers, engage in activities beneficial to their long term interest and avoid actions which cause harm to others or undermine the long term viability of the business. The findings also imply that neither economic context nor profit, changes these responsibilities. These findings make important theoretical and practical contributions. The theoretical contributions support the literature arguing for a limited scope on the role of business. They also argue in favour of social responsibilities being voluntary. The finding that economic context and profitability have no impact on responsibility is important in its own right, but also suggests that business responsibilities are static. This paper makes another contribution through models which are based on the findings. These models combine social responsibility with corporate strategy to show the concept of a responsible business and the difference between voluntary, compulsory and strategic responsibilities.</p>

The IASB and ASBJ Conceptual Frameworks: Same Objective, Different Financial Performance Concepts

2014 ◽  
Vol 29 (1) ◽  
pp. 199-216 ◽  
Author(s):  
Carien van Mourik ◽  
Yuko Katsuo
Keyword(s):  
Financial Performance ◽  
Conceptual Framework ◽  
Financial Reporting ◽  
Accounting Standards ◽  
General Purpose ◽  
International Accounting Standards ◽  
Conceptual Frameworks ◽  
Accounting Standard ◽  
Decision Usefulness

SYNOPSISThis paper illustrates that, despite their general agreement on the decision-usefulness objective of general purpose financial reporting, the Accounting Standard Board of Japan (ASBJ) and the International Accounting Standards Board (IASB)'s conceptual frameworks are based on two different concepts of financial performance. By identifying and contrasting the two financial performance concepts and their impact on the rest of the frameworks and by explaining the thinking that underpins the ASBJ's chosen financial performance concept, it contributes to a debate about the role of financial performance concepts in fulfilling the decision-usefulness objective. Such a debate is pertinent to the revision of the IASB's Conceptual Framework, which is scheduled for completion in 2015.

Suppliers’ power relationships with industrial key customers

2015 ◽  
Vol 30 (5) ◽  
pp. 562-571 ◽  
Author(s):  
Sylvie Lacoste ◽  
Keith Blois
Keyword(s):  
Academic Research ◽  
Customer Relationship ◽  
Power Relationships ◽  
Content Type ◽  
Industrial Companies ◽  
Key Account ◽  
Corrugated Cardboard ◽  
Set Up

Purpose – This paper aims to incorporate material derived from four case study analyses of industrial business-to-business relationships. Although there is a substantial amount of literature on the concept of power, there is little academic research studying the “perception” of power – especially that of key customers’ suppliers – relative to that of the buying company. This paper develops a framework, which provides a different set of perceptions regarding the nature of supplier-key customer relationship. Design/methodology/approach – The case studies involve four firms that have been long-term suppliers to a number of global industrial companies and who have set up key account programs to work with them. Three suppliers are in the corrugated cardboard industry (two large and one medium-sized company) and one supplier (a medium-sized company) is in the coding equipment industry. Findings – The study develops a power framework, which can be used in the analysis of buyer/supplier power and points out the risk that can arise when one or more of the parties involved operates on the basis of perceptions that are incorrect. Originality/value – The results suggest that the actors’ power perceptions are important constructs, which have so far been neglected in the academic literature, and stress the role of “subjectivity” in the actors’ analysis of power.

scholarly journals How Did Organizational Resilience Work Before and after the Financial Crisis? An Empirical Study

2018 ◽  
Vol 13 (10) ◽  
pp. 54 ◽  
Author(s):  
Pamela Palmi ◽  
Domenico Morrone ◽  
Pier Paolo Miglietta ◽  
Giulio Fusco
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Organizational Resilience ◽  
Long Term Outcomes ◽  
Before And After ◽  
Path Dependent ◽  
The 2008 Financial Crisis ◽  
The Empirical Analysis

The purpose of this paper is to assess the role of organizational resilience as an attitude, depending on the adoption of corporate governance, environmental and social practices (CESPs), in order to react to unexpected shocks, while preserving business sustainability. Organizational resilience is defined as the capacity for an enterprise to survive, to adapt and to grow in a turbulent change or unpredicted situation. Since organizational resilience is a latent path-dependent construct, it can be evaluated through long-term outcomes in an integrated perspective. The hypotheses are tested analyzing the economic performance of U.S. companies listed in Standard &amp; Poor&rsquo;s 500 index (S&amp;P 500) and their environmental, social and governance (ESG) data has been extracted from Asset4. The period in the study covers 14 years, from 2002 to 2015, collecting the seven years before and after the 2008 financial crisis. The results of the empirical analysis highlight that economic performances of listed companies are influenced, over the 14 year period considered in the study, not only by the traditional sustainable pillars (SEPs), but also by the corporate governance ones (CESPs).

An Empirical Study on Predicting Financial Risk of Listed Companies

2010 ◽  
Vol 108-111 ◽  
pp. 1267-1271 ◽  
Author(s):  
Yan Li Chen ◽  
Li Hui Chen
Keyword(s):  
Financial Crisis ◽  
Financial Reporting ◽  
Early Warning ◽  
Financial Risk ◽  
Listed Companies ◽  
Financial Ratios ◽  
Growth Ratio ◽  
Revenue Growth ◽  
Discriminant Model ◽  
Set Up

Financial crisis early warning analysis is a matter of grave social and economic concern. It is important for enterprises, commercial banks and various investors. This is an exploratory study to determine if financial ratios of crisis companies differ from those of no crisis companies. The crisis firms (n=63) were then matched with no crisis firms on the basis of firm size, time period, and industry. Using this matched-pairs design, choose 63 listed companies, which are marked ST companies because of abnormal financial standing in Shanghai and Shenzhen in 2006, form the financial crisis samples, and choose some similar sized listed companies in same industry as matching samples, Taking the index of property liabilities ratio, audit opinion, finance lever ratio, gross property net profit ratio, sales revenue growth ratio and cash flux to current liability ratio as the final variants, set up the discriminant model by Fisher’ coefficient, conduct the case analysis of financial crisis early warning. These results provide empirical evidence of the limited ability of financial ratios to detect and predict crisis financial reporting.

scholarly journals Languages adapt to their contextual niche

2014 ◽  
Vol 7 (3) ◽  
pp. 415-449 ◽  
Author(s):  
JAMES WINTERS ◽  
SIMON KIRBY ◽  
KENNY SMITH
Keyword(s):  
Cultural Transmission ◽  
Situational Context ◽  
Different Types ◽  
Iterated Learning ◽  
Systematic Structure ◽  
Communicative Success ◽  
Set Up ◽  
Feature Dimension

abstractIt is well established that context plays a fundamental role in how we learn and use language. Here we explore how context links short-term language use with the long-term emergence of different types of language system. Using an iterated learning model of cultural transmission, the current study experimentally investigates the role of the communicative situation in which an utterance is produced (situational context) and how it influences the emergence of three types of linguistic systems: underspecified languages (where only some dimensions of meaning are encoded linguistically), holistic systems (lacking systematic structure), and systematic languages (consisting of compound signals encoding both category-level and individuating dimensions of meaning). To do this, we set up a discrimination task in a communication game and manipulated whether the feature dimension shape was relevant or not in discriminating between two referents. The experimental languages gradually evolved to encode information relevant to the task of achieving communicative success, given the situational context in which they are learned and used, resulting in the emergence of different linguistic systems. These results suggest language systems adapt to their contextual niche over iterated learning.

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