The Impact of the Ownership Structure and the Quality of Financial Information on the Cost of Debt of Tunisian Firms

2014 ◽  
Author(s):  
Abdelkader Derbali ◽  
Manel Ben Ayeche
Keyword(s):  
Ownership Structure ◽  
Financial Information ◽  
Cost Of Debt ◽  
The Cost ◽  
The Impact

Return on Invesment (ROI) of Software Product: A Systematic Literature Review

2015 ◽  
Vol 6 (1) ◽  
pp. 50-57
Author(s):  
Rizqa Raaiqa Bintana ◽  
Putri Aisyiyah Rakhma Devi ◽  
Umi Laili Yuhana
Keyword(s):  
Return On Investment ◽  
Assessment Criteria ◽  
Software Product ◽  
And Performance ◽  
Rational Consideration ◽  
Actual Return ◽  
The Cost ◽  
Investment Models ◽  
The Impact

The quality of the software can be measured by its return on investment. Factors which may affect the return on investment (ROI) is the tangible factors (such as the cost) dan intangible factors (such as the impact of software to the users or stakeholder). The factor of the software itself are assessed through reviewing, testing, process audit, and performance of software. This paper discusses the consideration of return on investment (ROI) assessment criteria derived from the software and its users. These criteria indicate that the approach may support a rational consideration of all relevant criteria when evaluating software, and shows examples of actual return on investment models. Conducted an analysis of the assessment criteria that affect the return on investment if these criteria have a disproportionate effort that resulted in a return on investment of a software decreased. Index Terms - Assessment criteria, Quality assurance, Return on Investment, Software product

Ownership Structure, Antitakeover Provisions, and the Cost of Debt

2020 ◽  
Author(s):  
Yuzi Chen ◽  
Jun-Koo Kang ◽  
Jungmin Kim ◽  
Hyun Seung Na
Keyword(s):  
Ownership Structure ◽  
Cost Of Debt ◽  
The Cost

scholarly journals Are Multi-Language Design Smells Fault-Prone? An Empirical Study

2021 ◽  
Vol 30 (3) ◽  
pp. 1-56
Author(s):  
Mouna Abidi ◽  
Md Saidur Rahman ◽  
Moses Openja ◽  
Foutse Khomh
Keyword(s):  
Programming Languages ◽  
Language Design ◽  
Functional Requirements ◽  
Code Smells ◽  
Design And Implementation ◽  
Design Smells ◽  
The Cost ◽  
The Impact ◽  
Fault Proneness

Nowadays, modern applications are developed using components written in different programming languages and technologies. The cost benefits of reuse and the advantages of each programming language are two main incentives behind the proliferation of such systems. However, as the number of languages increases, so do the challenges related to the development and maintenance of these systems. In such situations, developers may introduce design smells (i.e., anti-patterns and code smells) which are symptoms of poor design and implementation choices. Design smells are defined as poor design and coding choices that can negatively impact the quality of a software program despite satisfying functional requirements. Studies on mono-language systems suggest that the presence of design smells may indicate a higher risk of future bugs and affects code comprehension, thus making systems harder to maintain. However, the impact of multi-language design smells on software quality such as fault-proneness is yet to be investigated. In this article, we present an approach to detect multi-language design smells in the context of JNI systems. We then investigate the prevalence of those design smells and their impacts on fault-proneness. Specifically, we detect 15 design smells in 98 releases of 9 open-source JNI projects. Our results show that the design smells are prevalent in the selected projects and persist throughout the releases of the systems. We observe that, in the analyzed systems, 33.95% of the files involving communications between Java and C/C++ contain occurrences of multi-language design smells. Some kinds of smells are more prevalent than others, e.g., Unused Parameters , Too Much Scattering , and Unused Method Declaration . Our results suggest that files with multi-language design smells can often be more associated with bugs than files without these smells, and that specific smells are more correlated to fault-proneness than others. From analyzing fault-inducing commit messages, we also extracted activities that are more likely to introduce bugs in smelly files. We believe that our findings are important for practitioners as it can help them prioritize design smells during the maintenance of multi-language systems.

STUDY ON THE PROCESS OF RAPESEED HULLING BY THE IMPACT

2019 ◽  
Author(s):  
А.О. РЕНЗЯЕВ ◽  
О.П. РЕНЗЯЕВ ◽  
С.Н. КРАВЧЕНКО ◽  
Р.В. КРЮК
Keyword(s):  
Rotational Speed ◽  
Calculated Data ◽  
Quality Characteristics ◽  
Complete Separation ◽  
Edible Oil ◽  
Siberian Region ◽  
The Core ◽  
The Cost ◽  
The Impact

Исследованы прочностные и физико-механические свойства оболочки рапса с точки зрения ее разрушения и удаления. Установлено, что наиболее рациональным является двухстадийный способ обрушивания: 1-я стадия – на вальцовых мельницах, 2-я – на центробежной обрушивающей машине. Определены параметры центробежной обрушивающей машины для обеспечения минимальной необходимой линейной скорости 10,81 м/с: угол наклона отбойной пластины (90 ± 2)°, частота вращения барабана (2400 ± 150) об/мин. Установлено, что правильно подобранные условия и угол, под которым происходит удар, позволяют значительно снизить количество не до конца обрушенного семени и содержание расколотого ядра. При этом при свободном ударе об отбойную пластину под углом, отличным от 88–91°, или подаче недостаточно равномерного потока семян значительно увеличивается содержание необрушенных семян. На разрушение 1 кг семян необходимо затратить 58,45 Дж. Таким образом, по расчетным данным, для семян рапса диаметром 1,5 мм частота вращения барабана должна находиться в диапазоне от 2221 до 2565 об/мин при ударе семени под углом 90°. Диаметр семян рапса, выращиваемого в Сибирском регионе, составляет от 0,8 до 1,8 мм. Установлено, что подсушивание семян рапса в течение 30–40 с при температуре 100°С позволяет увеличить эффективность разрушения оболочки до полного ее отделения от ядра рапса. Представленные результаты позволяют повысить качество очистки семян рапса от оболочки и улучшить качественные характеристики получаемого масла, облегчить последующие технологические процессы получения пищевого масла, снизить затраты на рафинацию и дезодорацию на 2%. The strength and physico-mechanical properties of the shell of rapeseed in terms of its destruction and removal are investigated. It is established that the most rational is a two-stage method of seed hulling: the 1st stage – on roller mills, the 2nd – on a centrifugal hulling machine. The parameters of the centrifugal hulling machine to provide the minimum required linear speed of 10,81 m/s are defined: the angle of inclination of the turnback plate (90 ± 2)°, the rotational speed of drum (2400 ± 150) RPM. It is established that the correctly selected conditions and the angle at which the impact occurs, can significantly reduce the amount is not completely hulling seed and the substance of the split nucleus. At the same time, with a free impact on the turnback plate at an angle different from 88–91°, or the supply of an insufficiently uniform flow of seeds, the content is not completely hulling seed increases significantly. On hulling of 1 kg of seeds it is necessary to spend 58,45 J. Thus, according to the calculated data, for rape seeds with a diameter of 1,5 mm, the rotational speed of drum should be in the range from 2221 to 2565 RPM when the seed is struck at an angle of 90°. The diameter of rapeseed grown in the Siberian region ranges from 0,8 to 1,8 mm. It was found that drying of rapeseed for 30–40 s at a temperature of 100°C, can increase the efficiency of destruction of the shell to its complete separation from the core of rapeseed. The presented results make it possible to improve the quality of cleaning of rape seeds from the shell and improve the quality characteristics of the obtained oil, facilitate the subsequent technological processes of obtaining edible oil, reduce the cost of refining and deodorization by 2%.

scholarly journals IMMERSIVE TECHNOLOGIES AS A TOOL OF INNOVATIVE MARKETING IN THE FIELD OF BUSINESS ORGANIZATION

2021 ◽  
Author(s):  
Valentyna Fostolovych ◽  
Tetiana Botsian
Keyword(s):  
Human Life ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Competitive Advantages ◽  
Marketing Activities ◽  
Marketing Tool ◽  
The Cost ◽  
The Impact ◽  
Immersive Technologies

The permeability of all spheres of both economic activity and human life with digital technologies encourages the search for new marketing ideas necessary for the implementation of the product (goods, works and services).  Today's consumer has become more demanding both to the product itself and to the ways of presenting it.  Immersive technologies are becoming one of the tools that contribute to the formation of competitive advantages, especially the organization of business in the field of entertainment, as one of the areas of additional income in the field of hotel and restaurant services and marketing activities of enterprises.  Digital transformation leads to the search for new initiatives that will be a tool to meet customer needs and a way to reach wider market segments.  The process of digitalization must first be integrated into the economy of the whole state and the enterprise as a whole, and in all processes of production of goods, works and services.  Digital-transformation of domestic enterprises will help to obtain additional competitive advantages both in the domestic market and in the international market.  The formation of competitive advantages is associated not only with the maximum involvement of digital technologies in business.  It is important to choose such technologies that will be most effective in the implementation of a particular type of enterprise, under certain conditions and in a particular environment. The expediency of using immersive technologies as a marketing tool is undeniable.  However, in addition to tools, immersive technologies are important as a means of education, a separate milestone in the field of entertainment, a means of psychological influence and more.  That is, the impact of this tool on the level of competitiveness of the enterprise in the environment of the demanding consumer is manifested: in the form of reducing the cost of attracting the client; active covert promotion through their use; improving the quality of the presented product (goods, works, services); ensuring the elasticity of the enterprise to the needs and requirements of consumers; the transition of the enterprise to an innovative type of development and active digitalization.

scholarly journals Ownership Structure and earnings management: Empirical evidence from listed pharmaceuticals and chemical firms of Bangladesh

2020 ◽  
Vol 5 (2) ◽  
pp. 58-69
Author(s):  
Dewan Azmal Hossain
Keyword(s):  
Earnings Management ◽  
Empirical Evidence ◽  
Ownership Structure ◽  
Good Governance ◽  
Foreign Ownership ◽  
Jel Classification ◽  
Financial Information ◽  
Least Square ◽  
The Relationship

Objective – This study aims to examine the relationship between ownership structure (determined by institutional and foreign ownership) and earnings management in the context of Bangladeshi Pharmaceuticals and Chemical firms. Methodology/Technique – Out of 32 listed firms, this study examined 29 firms from the pharmaceuticals and chemical industry of Bangladesh from 2014 to 2018. Three firms are omitted as they got listed in 2018 and 2019 respectively. This study uses discretionary working capital accrual to measure earnings management that is the dependent variable. Ordinary least square regression analysis is conducted to assess the result of this study. Institutional and foreign ownership are independent variables. ROA, size, cash flow from operation, and leverage are control variables. Findings – It is found that institutional ownership is negatively related to earnings management and foreign ownership is positively related to earnings management but none of them are statistically significant indicating institutional and foreign ownership do not help in resolving or reducing the earnings management problems in the context of Bangladeshi pharmaceuticals and chemical firms. Novelty – Previous studies in Bangladesh deal only with the techniques of earnings management. To my knowledge, it is the first study that tries to assess the relationship of ownership structure defined by institutional and foreign shareholdings with earnings management in the context of Bangladeshi pharmaceuticals and chemical firms. These two ownership patterns are selected because they are supposed to increase the quality of financial information and also because in Bangladesh state and general shareholders are too dispersed to monitor the governance issues. The practical implications of this study is that investors should not consider institutional and foreign ownership percentage as a determining factor of good governance when considering investment decisions rather should look for other firm-specific factors as institutional and foreign shareholders are found to be inactive in increasing the quality of financial information in the context of Bangladesh. Policymakers should identify why institutional and foreign shareholders are not active and should revise the governance mechanisms accordingly. Type of Paper: Empirical Keywords: Ownership structure; Institutional Shareholdings; Foreign Shareholdings; Earnings Management; Bangladesh. Reference to this paper should be made as follows: Hossain, D.A. 2020. Ownership Structure and earnings management: Empirical evidence from listed pharmaceuticals and chemical firms of Bangladesh, J. Fin. Bank. Review, 5 (2): 58 – 69 https://doi.org/10.35609/jfbr.2020.5.2(3) JEL Classification: G40; G41; G49.

Does opening high-speed railways affect the cost of debt financing? A quasi-natural experiment

2020 ◽  
Vol 10 (4) ◽  
pp. 473-496
Author(s):  
Hongling Guo ◽  
Keping Wu
Keyword(s):  
High Speed ◽  
Geographical Location ◽  
Debt Financing ◽  
Cost Of Debt ◽  
High Speed Railway ◽  
Content Type ◽  
Financing Cost ◽  
Debt Market ◽  
The Cost ◽  
The Impact

PurposeThis study aims to investigate how opening high-speed railways affects the cost of debt financing based on China's background.Design/methodology/approachUsing panel data on Chinese listed firms from 2008 to 2017, this study constructs a quasi-natural experiment and adopts a difference-in-difference model with multiple time periods to empirically examine the relation between the high-speed railway openings and debt financing cost.FindingsOur results show that opening high-speed railways reduces the cost of debt financing, and this negative correlation is more significant in non-state firms, firms with weaker internal control, and firms that hire non-Big Four auditors. Besides, we explore the impact mechanisms and find that opening high-speed railways improves analyst attention, institutional investor participation, and information disclosure quality, which in turn lowers the cost of debt financing.Research limitations/implicationsThe results imply that the opening of high-speed railways helps to alleviate the information asymmetry and adverse selection between firms and creditors and ultimately reduces the cost of corporate debt financing.Practical implicationsThis paper can inform firms and stakeholders about the impact of opening high-speed railways on debt financing cost: it improves the information environment, reduces the geographical location restrictions of debt financing, ensures the reasonable pricing of corporate debt, and thus promotes the healthy and sound development of the debt market.Originality/valueThis paper provides theoretical support and empirical evidence for the impact of infrastructure construction on the information environment of the debt market in China, which enriches the research on the “high-speed railway economy.” In addition, as an exogenous event, the opening of high-speed railways instantly shortens the time distance between firms and external stakeholders, which gives us a natural environment to conduct empirical research, thus providing a new perspective for financial research on firms' geographical location.

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