scholarly journals The Impact of Foreign Investor Ownership Level on Agency Problems of Manufacturing Companies in Indonesia

2020 ◽  
Vol 21 (1) ◽  
Author(s):  
Ahmad Cahyo Nugroho ◽  
Dedi Febrianto ◽  
AviaEnggar Tyasti ◽  
Christian Kuswibowo
Keyword(s):  
Agency Problems ◽  
Foreign Investor ◽  
Manufacturing Companies ◽  
The Impact

PENGARUH FAMILY OWNERSHIP, PERUBAHAN TARIF PAJAK DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Elfina Astrella Sambuaga
Keyword(s):  
Ownership Structure ◽  
Tax Reform ◽  
Stock Exchange ◽  
Family Ownership ◽  
Corporate Debt ◽  
Tax Rates ◽  
Manufacturing Companies ◽  
The Impact ◽  
The Relationship ◽  
Debt Policy

<p>This study aims to provide empirical evidence related to the influence of family ownership, tax reform on corporate debt policy, and further prove the impact on the firm value.This study examined the effect of changes in tax rates in 2009 and 2010 on the relationship between family ownership structure and corporate debt policy. The population of this research is manufacturing companies listed in Indonesia Stock Exchange for 8 consecutive years (2006-2013), with the period of observation for 7 years (2007-2013). A period of 8 years was taken to see a company that is consistently listed on the Stock Exchange prior to the end of the observation period. The result of this study shows that tax reform from progressive tax rates to a flat rate does not affect the relationship between family ownership structure and corporate debt policy. In contrast to the year 2009, changing rate from 28% to 25% in late 2010 was a significant effect on the debt policy with the company of family ownership. Based on the results, it was found that family ownership and debt policy significantly affect the company's enterprise value. It can be concluded, the higher the family ownership, the company's value would be diminished. Instead, the company's value will increase when the company adds to its debt policy.</p><p>Keywords : debt policy, family ownership, firm value, tax reform.</p>

The impact of applying the Common Customs Tariff on the armenian export of Cut and Polished Gems to Russia

2019 ◽  
pp. 33-41
Author(s):  
V. L. Harutyunyan ◽  
S. V. Dokholyan ◽  
A. R. Makaryan
Keyword(s):  
Manufacturing Sector ◽  
Practical Implication ◽  
Dominant Role ◽  
New Technology ◽  
Manufacturing Companies ◽  
Medium Term ◽  
Diamond Cutting ◽  
Global Trends ◽  
The Common ◽  
The Impact

The presented study discusses the issues of applying the Common Customs Tariff (CCT) rates of the Eurasian Economic Union (EAEU) on rough diamonds and the impact thereof on the exports of stones cut and polished inArmeniaand then exported toRussia.Aim. The study aims to identify the possible strategies Armenian diamond cutting and polishing companies could adopt as a response to the application of the CCT rates on rough diamonds and how it would affect exports to various destinations, namely to Russia.Tasks. The authors analyze the current state of the gems and jewelry sector and substantiate the need to either integrate it into the jewelry manufacturing sector or to apply various strategies to facilitate exports to either Russia or other destinations in the medium term in response to the application of the CCT rates.Methods. This study uses general scientific methods of cognition, including analytical and methodological approaches and elements of forecasting. Possible strategies the Armenian diamond cutting and polishing companies could adopt in the medium term in response to the application of the EAEU CCT rates are determined using the analytical research method, forecasts in the context of the developments in the Armenian gem processing and jewelry market and global trends, statistical data on the imports and exports of cut and polished gems and jewelry for 2014–2018 published by the UN Comtrade Statistics.Results. Statistics on the exports of processed diamonds from 2014 to 2018 highlights the issue associated with the loss of competitiveness suffered by Armenian companies (mainly in comparison with Indian diamond cutters). The major global trends in the diamond cutting and polishing business indicate that it could be virtually impossible for Armenian cutters and polishers to compete with Indian companies in the medium term if they do not comes to investing in new technology to achieve operational efficiency. For these companies, it is important not to lose the Russian market due to an increase in the tariff rate and concentrate on the processing of gems that are larger than 1 carat. Another strategy to avoid an increase in the customs tariff rates would depend on the Armenian government’s ability to negotiate with Russia in respect of direct imports of diamond stones from Russian manufactures. Two other options for Armenian cutters involve focusing on cutting and polishing of rubies, sapphires, emeralds, etc. or integrating into the jewelry sector either by being the primary supplier or by considering this business as a channel to sell processed diamond stones by setting up their own jewelry manufacturing companies.Conclusions. With CCT going into effect in January 2021 and India’s dominant role in the diamond cutting and polishing business, Armenia needs to carefully consider all of the strategies the Armenian companies could adopt, as discussed above. As a member state of the EAEU, Armenia freely exports to Russia, however, further exports to Russia would depend on Armenia’s ability to ensure that cost-effective operations are in place, or to concentrate on the processing of precious gems rather than diamonds, or to switch to the manufacturing of jewelry items as a major export item.Practical Implication. The findings of this study could be of interest to the Ministry of Economy of the Republic of Armenia and Business Armenia that could be used in elaborating the strategy for the development of Armenian gems and jewelry sector of the economy.

The role of innovation in building competitive advantages: an empirical investigation

2018 ◽  
Vol 21 (1) ◽  
pp. 44-69 ◽  
Author(s):  
Prodromos Chatzoglou ◽  
Dimitrios Chatzoudes
Keyword(s):  
Competitive Advantage ◽  
Conceptual Framework ◽  
Empirical Investigation ◽  
Primary Data ◽  
Empirical Literature ◽  
Competitive Advantages ◽  
Manufacturing Companies ◽  
Content Type ◽  
The Impact ◽  
Structured Questionnaire

Purpose Nowadays, innovation appears as one of the main driving forces of organisational success. Despite the above fact, its impact on the propensity of an organisation to develop and sustain a competitive advantage has not yet received sufficient empirical investigation. The purpose of this paper is to enhance the existing empirical literature by focusing on the antecedents of innovation and its impact on competitive advantage. It proposes a newly developed conceptual framework that adopts a three-step approach, highlighting areas that have rarely been simultaneously examined before. Design/methodology/approach The examination of the proposed conceptual framework was performed with the use of a newly developed structured questionnaire that was distributed to a group of Greek manufacturing companies. The questionnaire has been successfully completed by chief executive officers (CEOs) from 189 different companies. CEOs were used as key respondents due to their knowledge and experience. The reliability and the validity of the questionnaire were thoroughly examined. Empirical data were analysed using the structural equation modelling technique. The study is empirical (based on primary data), explanatory (examines cause and effect relationships), deductive (tests research hypotheses) and quantitative (includes the analysis of quantitative data collected with the use of a structured questionnaire). Findings Results indicate that knowledge management, intellectual capital, organisational capabilities and organisational culture have significant direct and indirect effects on innovation, underlining the importance of their simultaneous enhancement. Finally, the positive effect of innovation on the creation of competitive advantages is empirically validated, bridging the gap in the relevant literature and offering avenues for additional future research. Originality/value The causal relationship between innovation and competitive advantage, despite its significant theoretical support, has not been empirically validated. The present paper aspires to bridge this gap, investigating the impact of innovation on the development of competitive advantages. Moreover, the present study adopts a multidimensional approach that has never been explored in the existing innovation literature, making the examination of the proposed conceptual framework an interesting research topic.

scholarly journals The Role of Digital Maturity Assessment in Technology Interventions with Industrial Internet Playground

Electronics ◽  
2021 ◽  
Vol 10 (10) ◽  
pp. 1134
Author(s):  
Annabeth Aagaard ◽  
Mirko Presser ◽  
Tom Collins ◽  
Michail Beliatis ◽  
Anita Krogsøe Skou ◽  
...  
Keyword(s):  
Assessment Tool ◽  
Digital Transformation ◽  
Assessment Tools ◽  
Manufacturing Companies ◽  
Digital Interventions ◽  
Maturity Assessment ◽  
Industrial Internet ◽  
Digital Development ◽  
Key Dimensions ◽  
The Impact

The use of digital technologies such as Internet of Things and advanced data analytics are central in digitally transforming manufacturing companies towards Industry 4.0. Success cases are frequently reported, and there is clear evidence of technology interventions conducted by industry. However, measuring the impact and effect of such interventions on digital maturity and on the organizational adoption can be challenging. Therefore, the research aim of this paper is to explore how the combination of the different methods of Industrial Internet Playground (IIP) pilots, Shadow Infrastructure (SI) and digital maturity assessment can assist in conducting and documenting the technical, as well as organisational, impact of digital interventions. Through an elaborate literature review of existing digital maturity assessment tools and key dimensions in digital transformation, we have developed a digital maturity assessment tool (DMAT), which is presented and applied in the paper to identify digital development areas and to evaluate and document the effects of digital interventions. Thus, the paper contributes with new knowledge of how the IIP pilot and SI combined with digital maturity assessment can support effective, transparent and documented digital transformation throughout an organisation, as explored through theory and a practice case.

Accounts Receivable: Payable Impact on Each Other with Special Reference to Financial Performance—A Study of Small Cap Companies

2020 ◽  
Vol 47 (4) ◽  
pp. 362-373
Author(s):  
Sangeeta Mittal ◽  
Monika
Keyword(s):  
Financial Performance ◽  
Trade Credit ◽  
Unit Root Test ◽  
Effective Management ◽  
Manufacturing Companies ◽  
Causality Test ◽  
Accounts Receivable ◽  
Accounts Payable ◽  
The Impact ◽  
Test Correlation

Trade credit is important as a funding source for companies having a liquidity shortage. Trade credit comprises of both accounts receivable and payable. The financial literature has discussed the impact of accounts receivable or payable on a company’s financial performance. However, there is a lack of studies on the effects of accounts receivable and payable on each other and further its effect on the financial performance of small-cap companies. Financial performance is determined using the profitability and value of the company. The researchers examined the financial performance implications of offering and receiving trade credit for a sample of 193 BSE small-cap manufacturing companies in India during the period 2011–2019. Granger causality test, Levin, Lin and Chu Unit root test, correlation and regression have been used for data analysis. The finding suggested that accounts receivable influenced the use of accounts payable. The aftermath of accounts payables is that it negatively and significantly affected the profitability and had an insignificant relationship with the value of the company. The result implies that effective management of accounts receivable can influence the application of accounts payable that improves a company’s profits and value. The current study is useful for SMEs’ managers in determining the financial performance and capital structure.

Pengaruh Rasio Hutang terhadap Ekuitas, Rasio Saat Ini, Rasio Cepat, Peralihan Aset dan Pengembalian Aset terhadap Pertumbuhan Laba pada Perusahaan Manufaktur Sektor Industri Dasar Kimia

2021 ◽  
Vol 1 (1) ◽  
pp. 27-37
Author(s):  
Mayang Puspitasari ◽  
◽  
Muhammad Nuur Farid Thoha ◽  
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Selection Criterion ◽  
Sampling Technique ◽  
Total Asset ◽  
Manufacturing Companies ◽  
Current Ratio ◽  
Asset Turnover ◽  
The Impact ◽  
Profit Growth

Abstract Purpose: This study aimed to ascertain the impact of debt-to-equity ratio, current ratio, quick ratio, total asset turnover, and return on assets on profit growth in basic industrial and chemical manufacturing companies listed on the Indonesian Stock Exchange from 2013 to 2017. Research Methodology: The population of this study consists of 69 firms, 52 of which passed the sample selection criterion using a purposive sampling technique. The data sources for this study are the financial statements of the companies sampled via www.idx.co.id. This study employs multiple linear regression analysis and is conducted using the SPSS software version 20. (Statistical Product and Service Solutions). Results: The results of this study indicate that ROA has an impact on profit growth, while the current ratio, quick ratio, total asset turnover, and debt to equity ratios do not.

Combined Cycle Powerplant Cost Sensitivity Analysis

2021 ◽  
Author(s):  
Pugalenthi Nanadagopal ◽  
Animesh Pandey ◽  
Manjunath More ◽  
Pertik Kamboj
Keyword(s):  
Power Plant ◽  
Gas Turbine ◽  
Combined Cycle ◽  
Maintenance Cost ◽  
Combine Cycle Power Plant ◽  
Manufacturing Companies ◽  
Levelized Cost Of Electricity ◽  
Combine Cycle ◽  
Electrical Generation ◽  
The Impact

Abstract In Gas turbine-based combined cycle power plant market, the customer conducts an economic evaluation of competitive products to decide their buying option. There are different methods to calculate the economics of a power plant like Levelized cost of electricity (LCOE), Net present value (NPV) and payback period. LCOE methodology is commonly used for lifecycle cost analyses for combine cycle power plant that covers cost details of the plant and plant performance over the complete lifetime of a power plant from construction to retiring. Typically, it includes a combine cycle power plant ownership costs (Total plant cost and operating & maintenance cost) and combine cycle power output and efficiency. This LCOE method is helpful to compare power generation system that use similar technologies. This paper encompasses the LCOE calculation method, assumptions & approach to analyze the impact of key parameters of the electrical generation cost. They key parameters includes combine cycle output, combine cycle efficiency, fuel cost, annual operating hours, capital charge factor, annual operating hours, power plant life, discount rate, nominal escalation rate, operating & maintenance cost. This paper analyses result will provide insights to the customer & Gas turbine-based OEM (Own Equipment Manufacturing) companies to focus on different area/parameters to reduce the unit cost of generating electricity.

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