scholarly journals DOES MARKET MICROSTRUCTURE MATTER? FOREIGN AND DOMESTIC INSTITUTIONAL OWNERSHIP TO AGENCY COST

2008 ◽  
Vol 7 (1) ◽  
Author(s):  
Fitri Ismiyanti
Keyword(s):  
Stock Price ◽  
Structural Equation ◽  
Intrinsic Value ◽  
Institutional Ownership ◽  
Agency Cost ◽  
Equation Model ◽  
Price Premium ◽  
Price Discount ◽  
Divergence Of Opinion ◽  
Study Results

This research provides measure of absolute and relative equity agency costs for corporations under different ownership and management structures. Miller (1977) argues that divergence of opinion among investors causes the price difference of the price of a security. The dispute mechanism causes the forming price to be further of closer to its intrinsic value. Greater the divergence of opinion, causes greater the gap between the price and its’ intrinsic value. This study tests a new condition that reflects the existence of agency conflict, which is the conditions of stock price premium and stock price discount and related to agency cost control mechanism through foreign and domestic institutional ownership. The two conditions then called as price spread. This study tests four interrelated hypotheses in conditions of stock price premium and stock price discount that related to agency cost, foreign institutional ownership and domestic institutional ownership. Analysis method employs complete structural equation model (SEM), and multigroup SEM with constrained and unconstrained parameters. The direction of the study results consistent with result prediction. Nevertheless, there is one insignificant relationship, which is domestic institutional ownership towards agency cost. This indicates that the relationship hold but remains statistically unproven.

Business zakat compliance in Algeria: an ethical perspective

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mouad Sadallah ◽  
Hijattulah Abdul-Jabbar
Keyword(s):  
Structural Equation ◽  
Ethical Theory ◽  
Political Instability ◽  
Business Owners ◽  
Equation Model ◽  
Ethical Perspective ◽  
Cross Sectional ◽  
Content Type ◽  
Ethical Decisions ◽  
Study Results

Purpose This research aims to investigate the influence of political instability, trust and knowledge on the zakat compliance behaviour of Algerian business owners. Based on the lenses of the ethical theory mainly and by reference to Zakat Core Principles (that originally inspired from the Basel Core Principles), the paper aims to provide an understanding of how these factors affect zakat compliance in the Algerian context from an ethical perspective. Design/methodology/approach A cross-sectional research design was applied. Using self-administered questionnaires, a total of 575 business owners in Algeria participated in this study. The hypothesised model was tested by using the partial least squares structural equation model. Findings The study results support that the ethical approach can explain zakat compliance among Algerian business owners. Specifically, the results revealed that political instability, zakat knowledge and trust significantly influence zakat compliance. Practical implications The results offer meaningful insights for the zakat institutions in Muslim societies to enable them to formulate zakat collection policies, assess the level of societal trust in the zakat authority, evaluate the influence of political instability on Muslim entrepreneurs’ zakat compliance and strengthen the entrepreneurs’ zakat knowledge on the exigency of paying zakat to the authority. Originality/value This study breaks new ground by exploring the effects of political instability, zakat knowledge and trust on zakat payers’ compliance ethical decisions in developing countries such as Algeria. More significantly, this research contributes to the existing literature of the ethical theory specifically by investigating the effect of political instability on zakat compliance among Algerian business owners.

scholarly journals An Analysis on the Correlation and Gender Difference between College Students’ Internet Addiction and Mobile Phone Addiction in Taiwan

2013 ◽  
Vol 2013 ◽  
pp. 1-10 ◽  
Author(s):  
Shao-I Chiu ◽  
Fu-Yuan Hong ◽  
Su-Lin Chiu
Keyword(s):  
College Students ◽  
Mobile Phone ◽  
Internet Addiction ◽  
Structural Equation ◽  
Equation Model ◽  
Female College Students ◽  
Future Studies ◽  
Mobile Phone Addiction ◽  
Study Results ◽  
And Gender

This study is aimed at constructing a correlative model between Internet addiction and mobile phone addiction; the aim is to analyse the correlation (if any) between the two traits and to discuss the influence confirming that the gender has difference on this fascinating topic; taking gender into account opens a new world of scientific study to us. The study collected 448 college students on an island as study subjects, with 61.2% males and 38.8% females. Moreover, this study issued Mobile Phone Addiction Scale and Internet Addiction Scale to conduct surveys on the participants and adopts the structural equation model (SEM) to process the collected data. According to the study result, (1) mobile phone addiction and Internet addiction are positively related; (2) female college students score higher than male ones in the aspect of mobile addiction. Lastly, this study proposes relevant suggestions to serve as a reference for schools, college students, and future studies based on the study results.

scholarly journals PENGARUH STUKTUR KEPEMILIKAN DAN DEWAN KOMISARIS INDEPENDEN TERHADAP NILAI PERUSAHAAN DENGAN MANAJEMEN LABA DAN KEBIJAKAN HUTANG SEBAGAI VARIABEL INTERVENING

2008 ◽  
Vol 8 (1) ◽  
pp. 1
Author(s):  
Etty M. Nasser
Keyword(s):  
Earnings Management ◽  
Significant Influence ◽  
Structural Equation ◽  
Stock Exchange ◽  
Control Variable ◽  
Institutional Ownership ◽  
Equation Model ◽  
Financial Statement ◽  
Manufacturing Companies ◽  
Board Of Director

<p class="Style17">The objective of this research are to identi6 'the direct and indirect influences of corporate gover­nancesbucture such as, board of independent commissioner, institutional ownershi :rand manajerial ownership to the fimes value and earnings management debt as intervening variable.</p><p class="Style17">This research examine 37 manufacturing companies fisted in Jakarta Stock Exchange and issues waled financial statement since 2002-2004. The statistical methods used to test the hypothesis is Structural Equation Model (SEM). The empirical result of this research indicates that manajerial ownership has a positif significant and board of commissionerhas a negative significant influences to earnings management whereas institutional ownership have no influence to earnings manage­ment. The following test indicates that board of commissioner and manajerial ownership and institutional ownership have no significant influence to the firm's value. The control variable, firm's size, has a positive significant influence to earnings management whereas leverage has a negative significant influence to the firm's value. The Last test indicates that earnings management and debt have influence to the firm's value, so it can be concluded that earnings management and debt is an intervening variable.</p><p class="Style1"><strong><em>Keywords: </em></strong><strong><em>corporate governance, earnings management, debt, firm's value, board of director, </em></strong><strong><em>manajerial ownership, institutional</em></strong></p>

scholarly journals The effect of commitment, leadership and compensation on job satisfaction and performance of government apparatus in West Sulawesi Province

2019 ◽  
Vol 3 (1) ◽  
pp. 1
Author(s):  
Atika Atika ◽  
Basri Modding ◽  
Baharuddin Sammaila ◽  
Hamzah Hafied
Keyword(s):  
Job Satisfaction ◽  
Organizational Performance ◽  
Structural Equation Model ◽  
Structural Equation ◽  
Fundamental Problem ◽  
Equation Model ◽  
Individual Characteristics ◽  
Study Results ◽  
And Performance ◽  
The Impact

<p>The apparatus performance is a fundamental problem affecting the organizational performance of West Sulawesi Province Government. Many factors affect it, both individual characteristics and organizational, especially commitment, leadership, compensation and job satisfaction. This study analyzes the effect of organizational commitment, leadership and compensation on job satisfaction and the impact on apparatus performance. The study was conducted on 358 respondents of Government apparatus in West Sulawesi Province. The data was collected by five point Likert scale and analyzed by Structural Equation Model (SEM). The study results found that commitment and leadership affect on job satisfaction and apparatus performance. While compensation only affects job satisfaction and does not affect on performance apparatus.</p>

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI MINAT PEMANFAATAN SISTEM INFORMASI DAN PENGGUNAAN SISTEM INFORMASI (Studi Empiris pada Bank Swasta di Sumbar)

2008 ◽  
Author(s):  
Bagus Laksana Hari ◽  
Dandes Rifa
Keyword(s):  
Information System ◽  
Structural Equation ◽  
Social Factor ◽  
Positive Influence ◽  
Equation Model ◽  
System Usage ◽  
Study Results ◽  
System User ◽  
Facilitating Conditions ◽  
Significant Positive Influence

The objectives of the research are to examine some factors that influence intention of utilization of information system and information system usage. The study is based on the model proposed by Venkatesh et al., (2003). This study used data that obtained from individual perception of information system user Bank in West Sumatera. Data gathered from survey. On hundred Sixty questionnaires have sent to companies, 160 questionnaires were returned, and only 120 questionnaires can be used. To Examine Hypothesized Used Structural Equation Model with AMOS Program. Study results show that support of Management Top. Complexity Duty, system complexity, User influence. Intention of information system. Facilitating condition and Information system Usage. performance expectancy, effort expectancy and social factor arc significant positive influence to intention of information system. Facilitating conditions give significant positive influence to information system usage and intention of information system is insignificant positive influence to information system usage.

Task Characteristics, Task Process, Task Structure and their Relationship with Work and Personal Burnout

2014 ◽  
Vol 1 (2) ◽  
pp. 153-174 ◽  
Author(s):  
S. Riasudeen ◽  
P.T. Srinivasan ◽  
R. Venkatesakumar
Keyword(s):  
Information Technology ◽  
Structural Equation ◽  
Equation Model ◽  
Task Characteristics ◽  
Task Structure ◽  
Group Setting ◽  
Study Results ◽  
Group A ◽  
Relationship Of ◽  
Work Burnout

This research focuses on identifying the relationship of task characteristics, task process and task structure with work and personal burnout of individuals working in a group. A sample comprising of Information Technology (IT) and Information Technology Enabled Services (ITES) professionals, working in group setting, were surveyed using a structured questionnaire measuring the constructs. A structural equation model was performed and fitness measures of the model confirm significant relationship among the task characteristics, process and structure with work and personal burnout. In particular, the study results suggest that the task characteristics affects work burnout rather than personal burnout, that task process explicate moderately both personal and work burnout and finally, task structure is strongly related to personal burnout relative to work burnout.

scholarly journals OWNERSHIP STRUCTURE, DIVIDEND PAYMENT, AGENCY COST AND CORPORATE VALUE (SUATU PENGUJIAN MODEL STRUKTURAL)

2017 ◽  
Vol 14 (1) ◽  
pp. 39
Author(s):  
Isti Fadah
Keyword(s):  
Structural Equation Model ◽  
Cash Flow ◽  
Ownership Structure ◽  
Structural Equation ◽  
Agency Cost ◽  
Equation Model ◽  
Free Cash Flow ◽  
Corporate Value ◽  
Dividend Payment ◽  
Cash Flow Risk

The  agency problem come because of separation between ownership and management on large corporate, there is a conflict between shareholder as an owner and manager as an agent. Manager focus on high growth of corporate (low dividend) but the owner prefer high dividend. The aims of the research are (1)  to analysis the effect of free cash flow, risk and ownership structure to dividend payment ,(2) to analysis the effect of free cash flow, risk and ownership structure to  agency cost. (3) to analysis the effect of dividend payment to corporate value, and (4) to analysis the effect of and agency cost  to corporate value The technique sampling is purposive sampling. Secondary data is used in this research. It is from financial report like balance sheet, financial statement and cash flow report. It is gotten from Indonesian Stock Exchange. The research period is 2000 up to 2006. It uses pooled data ( joint of time series data and cross section data) so the analysis units are 271 (n=271).  To Analysis data  is used descriptive  analysis and also statistical analysis that’s name  structural equation model (SEM). It uses structural equation model (SEM) because the model has a ladder causality relationship and several variable like ownership structure, agency cost, risk , dividend payment and corporate value are latent variables.  The results show that (1)  risk has a positive significant effect to the agency cost, It means that agency cost can reduce the risk especially high risk investment that manger can do.  (2) Dividend payment  has a positive significant effect to the corporate value, It supports the-birds-in-the-hand theory and (3) risk has a positive significant effect to the corporate value. It means that investor always care about risk of corporate where they will invest.

scholarly journals OWNERSHIP STRUCTURE, DIVIDEND PAYMENT, AGENCY COST AND CORPORATE VALUE (SUATU PENGUJIAN MODEL STRUKTURAL)

2018 ◽  
Vol 14 (1) ◽  
Author(s):  
Isti Fadah
Keyword(s):  
Structural Equation Model ◽  
Cash Flow ◽  
Ownership Structure ◽  
Structural Equation ◽  
Agency Cost ◽  
Equation Model ◽  
Free Cash Flow ◽  
Corporate Value ◽  
Dividend Payment ◽  
Cash Flow Risk

The  agency problem come because of separation between ownership and management on large corporate, there is a conflict between shareholder as an owner and manager as an agent. Manager focus on high growth of corporate (low dividend) but the owner prefer high dividend. The aims of the research are (1)  to analysis the effect of free cash flow, risk and ownership structure to dividend payment ,(2) to analysis the effect of free cash flow, risk and ownership structure to  agency cost. (3) to analysis the effect of dividend payment to corporate value, and (4) to analysis the effect of and agency cost  to corporate value The technique sampling is purposive sampling. Secondary data is used in this research. It is from financial report like balance sheet, financial statement and cash flow report. It is gotten from Indonesian Stock Exchange. The research period is 2000 up to 2006. It uses pooled data ( joint of time series data and cross section data) so the analysis units are 271 (n=271).  To Analysis data  is used descriptive  analysis and also statistical analysis that’s name  structural equation model (SEM). It uses structural equation model (SEM) because the model has a ladder causality relationship and several variable like ownership structure, agency cost, risk , dividend payment and corporate value are latent variables.  The results show that (1)  risk has a positive significant effect to the agency cost, It means that agency cost can reduce the risk especially high risk investment that manger can do.  (2) Dividend payment  has a positive significant effect to the corporate value, It supports the-birds-in-the-hand theory and (3) risk has a positive significant effect to the corporate value. It means that investor always care about risk of corporate where they will invest.

A Study on the Willingness to Develop Sports Tourism in Taiwan

2018 ◽  
Vol 3 (2) ◽  
pp. 61-66
Author(s):  
Chih-Wei Lin ◽  
Wei-Ming Chen ◽  
Wei Peng Tan ◽  
Su-Shiang Lee ◽  
Wen-Hua Yang
Keyword(s):  
Place Attachment ◽  
Structural Equation ◽  
Negative Impact ◽  
Positive Impact ◽  
Positive Influence ◽  
Equation Model ◽  
Jel Classification ◽  
Study Results ◽  
Sports Tourism ◽  
The Impact

Objective - This study aims to construct a model for the willingness to develop sports tourism, using the factors of place attachment, the impact of sports tourism, attitude and willingness to develop sports tourism. Methodology/Technique - The study gathers data via questionnaires. Following this, purposive sampling is used to distribute the questionnaires and the collected data is analysed using descriptive statistics, confirmatory factor analysis and a structural equation model. Findings - Once the aforementioned analysis is conducted, the following conclusions were drawn. First, the model construction fits well. Second, the factor of place attachment has a significant positive influence on the perceived impact of sports tourism. Both the positive perception of sports tourism and the attitude for developing sports tourism have a positive impact on willingness to develop sports tourism. Contrary to this, negative perceptions of sports tourism have a negative impact on the attitude to develop sports tourism, although it has no significant impact on the willingness to develop sports tourism. Novelty - This study demonstrates that the higher the degree of place attachment associated with the inhabitants of Taiwan, the greater recognition there is of the impact of sports tourism. The most important finding of this study is that this positive impact enhances the attitude and willingness of inhabitants to develop sports tourism. The study also develops some practical strategies based on the study results. Type of Paper: Empirical Keywords: Place Attachment; Willingness; Sports Tourism; Tourism Impact. JEL Classification: Z30, Z39.

The attitudes of residents on the conservation of built-heritage of a historic temple town – Kanchipuram, India

2020 ◽  
Vol 45 (3) ◽  
pp. 283-296
Author(s):  
Thirumaran Kesavaperumal ◽  
Kiruthiga Kandasamy ◽  
Renganathan Ramasubramanian
Keyword(s):  
Structural Equation ◽  
Tamil Nadu ◽  
Equation Model ◽  
Heritage Conservation ◽  
Traditional Architecture ◽  
Content Type ◽  
Resident Participation ◽  
Built Heritage ◽  
Study Results ◽  
Built Heritage Conservation

Purpose The degradation of a town’s traditional architectural settings is a prominent issue in the historic towns that possess a rich heritage and legacies of architectural character in its urban fabric that have developed over the course of its evolution. Resident participation in built-heritage conservation can be explained in terms of deliberate acts. Thus, this study aims to analyse the attitudes of residents on the conservation of built heritage (ARCBH) in the historic town of Kanchipuram. Design/methodology/approach The historic temple town of Kanchipuram has been surveyed and focused in this study. A questionnaire was designed to investigate the ARCBH in Kanchipuram. Data were collected and analysed with the help of structural equation modelling and AMOS software. A structural equation model was developed, and hypotheses were framed for an empirical study. Findings The findings indicate that the ARCBH has an effective relationship with practical issues that occur in traditional architecture, built-heritage attachment and an awareness of existing heritage schemes. Social implications The study results indicate that considering resident attitude and attachment is important. In addition, the results provide useful insights for formulating practical measures relevant to built-heritage conservation. Originality/value There has been no attempt to come up with practical implications from the attitudes of residents on the conservation of built-heritage in the historic temple towns of Tamil Nadu, India.

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