scholarly journals The impact of firms’ and CEOs’ social media usage on corporate performance

2021 ◽  
Vol 18 (4) ◽  
pp. 21-35
Author(s):  
Wafa Ghardallou
Keyword(s):  
Social Media ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Estimation Method ◽  
Annual Reports ◽  
Short Term ◽  
Listed Firms ◽  
Media Usage ◽  
Funding Program ◽  
The Impact

The impact of social media usage on corporate performance has not been examined in the Saudi context. This paper aims to investigate the influence of social media, namely companies’ and CEOs’ involvement in Twitter and LinkedIn, on the profitability of Saudi Arabia listed firms. A dynamic panel estimation method is used to empirically assess this relationship. The study employs 120 firms listed on the Saudi Stock Exchange Tadawul from 2014 to 2017. Data are obtained from the companies’ annual reports. Statements of financial status as well as income statements are used to collect data on the dependent variable and control variables. The results show that having a LinkedIn official account by both the CEO and the company does not improve the enterprise performance. In contrast, companies that are active on Twitter will contribute to an increase in their short-term performance. CEOs who engage in Twitter via a high number of followers help to boost the performance of their companies in the long and short term. Hence, this paper recommends that Saudi firms should be aware that their performance could be increased by monitoring their presence on social networks and by having a strong intention to use these tools. AcknowledgmentsThis study was funded by the Deanship of Scientific Research at Princess Nourah bint Abdulrahman University through the Fast-track Research Funding Program.

scholarly journals The Impact of Dividend Policy on the Shareholders Value of Listed Firms in the Nigerian Petroleum Marketing Industry

2019 ◽  
Vol 8 (2S9) ◽  
pp. 902-905
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Market Price ◽  
Study Data ◽  
Annual Reports ◽  
Current Income ◽  
Listed Firms ◽  
Secondary Sources ◽  
Marketing Firms ◽  
The Impact

Dividend policy is directed towards establishing the proportion of current income that should be retained in the firm and the proportion that should be distributed among its shareholders. This study, therefore, assessed the impact of dividend policy on the value of listed firms in the Nigerian petroleum marketing industry. six firms, out of eight that are quoted on the Nigerian Stock Exchange (NSE) were selected as sample for the study. Data were collected from secondary sources. Annual reports and accounts of the selected firms, daily official lists and facts books of the NSE for the period of 2008-2017 form the source of the data. egression was used in analyzing the data. The findings revealed that payment of dividend by petroleum marketing firms in Nigeria positively influence the market price of their shares. Based on these findings, the study concluded that dividend policy of petroleum marketing firms in Nigeria affects the value of the firms. Based on this conclusion, the study recommends that management need to identify the shareholder’s interest in setting up a dividend policy that would balance their needs and retention for recapitalization to maximize value of the firms.

Do corporate attributes drive integrated reporting amongst listed companies in Nigeria?

2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Michael O. Adelowotan ◽  
Ini E. Udofia
Keyword(s):  
Stock Exchange ◽  
Least Square ◽  
Annual Reports ◽  
Primary Data ◽  
Integrated Reporting ◽  
Listed Firms ◽  
Reporting Framework ◽  
Primary Data Analysis ◽  
High Level ◽  
The Impact

Research purpose: The purpose of this paper was to investigate the association between corporate attributes and the implementation of Integrated Reporting (IR) among quoted companies on the Nigerian Stock Exchange which currently operates a voluntary based disclosure environment.Design and method: Using content analysis to derive the disclosure scores for integrated reporting and corporate attributes, the authors investigated the impact of corporate attributes on the implementation of the integrated reporting of a sample of 90 listed firms. The annual reports covering 2013–2017 were analysed using the disclosure methodologies developed by prior researchers in IR. The hypotheses were tested using panel least square regressions.Main findings: The authors found that corporate attributes have a statistically positive and significant impact on the implementation of integrated reporting framework, that share ownership structure and firm age have an insignificant influence over corporate implementation of the integrated reporting framework. The research findings extend integrated reporting research in Nigeria from mere primary data analysis to quantitative data analysis.Practical implications: The empirical findings provide regulators with evidence on the current level of integrated reporting disclosures and the influence of corporate attributes in driving integrated reporting.Originality and value: The study makes significant contributions to integrated reporting literature from a developing country’s perspective. It also provided empirical evidence of a high level of disclosure compliance with the IR framework among quoted companies in Nigeria.

scholarly journals Impact of Capital Structure on Profitability:An empirical analysis of listed firms in India

2018 ◽  
Vol 7 (2) ◽  
pp. 1-6
Author(s):  
Atif Ghayas ◽  
Javaid Akhter
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Short Term ◽  
Return On Equity ◽  
Listed Firms ◽  
Relationship Capital ◽  
The Impact ◽  
The Relationship ◽  
Positive Effect

This study aims to empirically examine and analyze the impact of capital structure decision on the firm’s profitability by using a sample of 35 Indian pharmaceutical companies listed on Bombay Stock Exchange (BSE) during the period of 5 years from 2012 to 2016. Regression Analysis is used to measure the extent and nature of the relationship. Capital structure variables used in the study are ratio of long-term debt to total assets (LDA), ratio of short-term debt to total assets (SDA) and ratio of Total debt to total assets (DA) while profitability has been measure by Return on Equity (ROE). Firms Size (SIZE)and Salesgrowth(GROW) are also used as control variables. Results reveal a positive effect of SDA and DA on ROE, while a weak-to-no effect was found of LDA on ROE.

scholarly journals Capital Structure and Firm’s Profitability: Evidence From Listed Consumer Goods Sector in Nigeria

2020 ◽  
Vol 9 (2) ◽  
pp. 50
Author(s):  
Udobi-Owoloja, P. I. ◽  
Gbajumo-Sheriff, M.A. ◽  
Umoru, B. ◽  
Babatunde, S.A ◽  
Ilimezekhe, D
Keyword(s):  
Capital Structure ◽  
Consumer Goods ◽  
Stock Exchange ◽  
Total Asset ◽  
Short Term ◽  
Interest Payment ◽  
Financial Reports ◽  
Listed Firms ◽  
The Impact

This study investigated the impact of capital structure on profitability of consumer goods firms in Nigerian for a period of eight years (2011-2018). Data of ten (10) randomly selected listed firms of the Nigeria Stock Exchange were derived from the firms’ published financial reports for the period covered. The panel regression results revealed that Debt to Asset Ratio(DAR) is positively significant on Return On Asset(ROA) (Proxy for profitability),while other proxies of capital structure shows that Debt to Equity(DER), Liquidity Ratio(LIQ), are not statistically significant, Short Term Debt to Total Asset Ratio (SDTA) shows a negative connection, Firm Size (FS) has a weak correlation with profit and Long Term Debt to Total Asset Ratio (LDTA) do not influence firms’ profitability of the consumer goods sector of Nigeria economy. In conclusion, capital structure influences the profitability of consumer goods sector of Nigerian Stock Exchange. It was recommended that firms in that sector should leverage on debt financing to boost their earnings as interest payment on debt is tax deductible.

scholarly journals The impact of structure-related variables on forward-looking disclosure in the annual reports of non-financial Egyptian companies

2013 ◽  
Vol 11 (1) ◽  
pp. 111-125
Author(s):  
Bassam Baroma
Keyword(s):  
Voluntary Disclosure ◽  
Information Disclosure ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Annual Reports ◽  
Listed Firms ◽  
The Impact ◽  
Egyptian Stock Exchange ◽  
Forward Looking

The main objective of this study is to test the relationship between numbers of variables representing firm characteristics (structure-related variables) and the extent of voluntary disclosure levels (forward-looking disclosure) in the annual reports of Egyptian firms listed on the Egyptian Stock Exchange. This study uses empirically investigate hypothesized impacts of structure-related variables on the extent of forward-looking disclosure. This study uses a list of forward-looking keywords to determine the differences in the level of forward looking disclosure between firms in different sectors. The sample includes 49 non-financial firms listed on the Egyptian Stock Exchange for the years 2008, 2009 and 2010. Statistical analysis is implemented using a multiple linear regression analysis. The results show that firm size is significantly positive (in all the three years) with the level of forward-looking disclosure. Firm age also is, only for the year 2008, and with insignificant association with the level of forward-looking disclosure in years 2009 and 2010. On the other hand, leverage and ownership dispersion variables are found being insignificantly associated with the level of forward-looking information disclosed in the annual reports for all the three years. There are some limitations in this study. First, the study uses the same list of forward-looking items as applied in previous studies. Second, the selected items do not show observed importance levels by financial information users. Third, the study applies an “unweights” approach to measure the level of forward-looking disclosure. Finally, the study concentrates on non-financial listed firms on the Egyptian Stock Exchange and excluded financial and insurance firms. Few studies have examined the forward-looking information disclosure in developing countries, particularly in the Middle East; no study has yet tested disclosure of forward-looking information in the annual reports for Egyptian firms. Furthermore, all previous studies examined the forward-looking disclosure in the annual reports for a sole year: this study examines it for a somewhat longer period (three years).

An Empirical Study on Capital Structure and Corporate Performance of Chinese Listed Companies

2016 ◽  
Vol 5 (3) ◽  
Author(s):  
Fahd Al-Duais
Keyword(s):  
Capital Structure ◽  
Corporate Performance ◽  
Positive Impact ◽  
Stock Exchange ◽  
Listed Companies ◽  
Short Term ◽  
Chinese Listed Companies ◽  
The Impact ◽  
The Relationship

The relationship between level of debt and the companys performance remains an important unsolved issue in the field of financing. It is very important to know how Chinas listed companies manage their capital towards business growth. This paper investigates the impact of the capital structure on corporate performance of a sample of 711 listed companies on the Shenzhen Stock Exchange in China in 2014. The results indicates that there is a positive relation between financial leverage and corporate performance as well as there is a positive impact that the mixture of long-term debt and short-term debt (using total debt). This would help decision maker in the companies to finance firms operation in the both periods. On the other hand, the short term debt has a negative relation and impact on corporate performance compared to the changing in firm size which cannot change in the profitability of firms.

scholarly journals INSTITUTIONAL SHAREHOLDING A MODERATOR TO AUDIT COMMITTEE CHARACTERISTICS AND EARNINGS MANAGEMENT OF LISTED CONGLOMERATE FIRMS IN NIGERIA

2018 ◽  
Vol 4 (10) ◽  
pp. 98 ◽  
Author(s):  
Abbas Umar ◽  
Shehu Usman Hassan
Keyword(s):  
Earnings Management ◽  
Audit Committee ◽  
Best Practice ◽  
Stock Exchange ◽  
Secondary Data ◽  
Annual Reports ◽  
Listed Firms ◽  
Clear Cut ◽  
Financial Expertise ◽  
The Impact

The relevance of audit committee characteristics in constraining managerial opportunistic tendencies has been explored by various researchers; the confrontational view in terms of the direction of their relationship has paint a vague picture which begs the introduction of other monitoring mechanism that may give a clear cut picture on direction of this relationship. This study uses two-stage least squares model and examines the impact of audit committee characteristics, institutional shareholding on discretionary accruals of listed conglomerate firms in Nigeria. Secondary data were extracted from the annual reports of 6 most active listed firms on the Nigerian Stock Exchange for the period 2006 to 2015. After running the OLS regression, a robustness test was conducted for validity of statistical inferences. A multiple regression was employed using HACC Model. The study documents that audit committee characteristic and institutional shareholding has significant impact on earnings management of the firms, specifically, audit committee size, audit committee financial expertise and institutional shareholding are inversely related with earnings management, while audit committee independence is positively and significantly related with earnings management, but there is no such impact of audit committee meetings. Furthermore, institutional shareholding and audit committee size are inversely related with earnings management; audit committee independence and institutional shareholding are positively, strongly and significantly constraining earnings management, while audit committee financial expertise with committees’ meetings and institutional shareholding reveals no impact on earnings management. In line with the findings, the study recommended  that regulatory bodies like CAMA, SEC, and NSE should ensure that listed conglomerate firms in Nigeria strictly adhere with code of best practice so that the interest of various stakeholder’s would be fully protected.

Managers' and auditors' narcissism on the management team's stability and relative corporate performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mahdi Salehi ◽  
Safoura Rouhi ◽  
Mohana Usefi Moghadam ◽  
Faezeh Faramarzi
Keyword(s):  
Significant Relationship ◽  
Fixed Effects ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Relative Performance ◽  
Psychological Characteristics ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
Performance Research

PurposeSuccess in corporate relative performance is one of the factors for the growth and durability of firms. Since the relative performance is a function of managers' decisions and such decisions are under the influence of behavioral and psychological characteristics, this paper aims to assess the managers’ and auditors’ narcissism's effect on the management team's stability relative to corporate performance.Design/methodology/approachThis paper has used the signature magnitude for examining narcissism and the regression model of Jenter and Kanaan (2015) for assessing relative corporate performance. The logistic regression is used to test the model of the management team's stability, and the multivariate regression is used to test the model of relative corporate performance. Research hypotheses were also examined using a sample of 768 listed year-companies on the Tehran Stock Exchange during 2012–2017 and by employing a panel data approach and fixed effects method.FindingsThe obtained results show a negative and significant relationship between managers' and auditors' narcissism and the management team's stability. The relationship between the narcissism of managers and auditors and relative corporate performance is positive and significant. Moreover, managers' narcissism positively and significantly impacts the relationship between auditors' narcissism and team management stability. A negative and significant relationship is evident between auditors’ narcissism and relative corporate performance.Originality/valueThis study's results can identify the effect of psychological components such as narcissism on people's performance by directing and influencing their decisions. Many studies have been conducted on narcissism, but none of them have examined the impact auditors’ and managers' narcissism has on the management team's stability and the corporate relative performance. Therefore, considering the importance of success in the corporate relative performance and benefits of the management team's stability, this study's results can reveal the importance of such features in accounting research. Also, the results of this research can make it important to know more about financial behavioral theory.

scholarly journals Gender diversity and governance: Analysis of Italian listed companies

2020 ◽  
Vol 17 (4, Special Issue) ◽  
pp. 329-338
Author(s):  
Graziella Sicoli ◽  
Giovanni Bronzetti ◽  
Dominga Ippolito ◽  
Giada Leonetti
Keyword(s):  
Corporate Performance ◽  
Positive Impact ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Corporate Board ◽  
Italian Law ◽  
Governance Analysis ◽  
Female Presence ◽  
Underrepresentation Of Women ◽  
The Impact

In recent years, many countries have adopted different legislative and self-regulatory initiatives to be able to tackle the problem of the underrepresentation of women on boards. Also, Italy with Law No. 120/2011 introduced the gender issue adopting the normative that 1/3 of the elected members would be women. In this job, a primary aim was to study over the period 2016/2018 the impact of female presence on boards of 50 companies listed on the Italian Stock Exchange. In depth, our results confirm that Italian Law has produced significant effects on the composition of the corporate board. The result of our study shows that women positively influence corporate performance, this is perfectly in line with the literature on gender diversity. The contribution of the work is that the empirical study conducted on the 50 companies listed on the Milan Stock Exchange allows confirming what has been claimed in the literature and that is the importance of the female presence on the boards. An immediate reading of the data allows us to confirm that the female presence in corporate governance has a positive impact on corporate performance and productivity.

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