scholarly journals The Importance of Intangible Assets in the Hotel Industry: The Case of Croatia and Slovenia

2018 ◽  
Vol 65 (3) ◽  
pp. 333-346
Author(s):  
Mateja Jerman ◽  
Sandra Janković
Keyword(s):  
Performance Indicators ◽  
Positive Relationship ◽  
Intangible Assets ◽  
Hotel Industry ◽  
Financial Statements ◽  
Company Performance ◽  
Limited Information ◽  
Balance Sheets ◽  
External Stakeholders ◽  
Average Share

Abstract Studies show an increasing importance of intangible assets (hereinafter IA) and a positive relationship between IA and company performance. The purpose of this paper is to analyse the importance of IA for Croatian and Slovene hotel companies and to find out whether companies with a higher share of intangibles are also more profitable. The analysis is based on publicly available financial statements for the five-year period, from 2011 to 2015. The results show that the average share of IA presented in the balance sheets of the analysed hotel companies is low in both countries. Moreover, we could not find a statistically significant relationship between the share of IA and the selected financial performance indicators. The results of our study show that despite the emphasised importance of IA in literature, the publicly available financial data of the selected hotel companies provides very limited information on IA for external stakeholders.

Effects of Financial Innovations on Profitability for Deposit Taking Microfinancing Institutions in Kenya

2018 ◽  
Vol 9 (6) ◽  
pp. 529-536
Author(s):  
Martin Khoya Odipo ◽  
Keyword(s):  
Financial Institutions ◽  
Positive Relationship ◽  
Financial Institution ◽  
Secondary Data ◽  
Financial Statements ◽  
Descriptive Statistics ◽  
Primary Data ◽  
Microfinance Institutions ◽  
Financial Innovations ◽  
Strong Positive Relationship

Recent studies have documented that innovations improve profitability of firms. This article documents that deposit taking micro financial institutions that have adopted financial innovations have increased their profitability. The study covered five years between 2009-2013. Both primary and secondary data were used in the study. Primary data was obtained through administration of drop and pick questionnaires to selected employees of the institutions. Secondary data was obtained from financial statements and management reports of these deposit taking microfinance institutions. Data was analyzed using descriptive statistics, return on asset and multi-liner regression model to determine the effect of each financial innovation applied on profitability on the micro-financial institution. The results showed that most deposit taking microfinance institutions adopted these financial innovations in their current operations. There was strong positive relationship between individual innovations and profitability. In line with profitability ROA also showed improvement each year after the adoption of these financial innovations.

Executing strategy through comprehensive performance measurement systems

2017 ◽  
Vol 37 (4) ◽  
pp. 423-443 ◽  
Author(s):  
Pietro Micheli ◽  
Matteo Mura
Keyword(s):  
Performance Measurement ◽  
Performance Indicators ◽  
Company Performance ◽  
Content Type ◽  
Cost Leadership ◽  
Measurement Systems ◽  
Comprehensive Performance ◽  
Different Types ◽  
Performance Measurement Systems

Purpose The purpose of this paper is to investigate the mediating role of comprehensive performance measurement systems (PMS) – i.e. measurement systems that comprise financial and non-financial indicators, and which also consist of indicators related to different aspects of an organisation’s operations – in the relationship between strategy and company performance. Design/methodology/approach Survey data of top managers of large European companies were collected and analysed by means of exploratory factor analyses and hierarchical regressions in order to validate the proposed hypotheses. Findings This research shows that different strategies lead to the use of different types of performance indicators. Also, it finds that the utilisation of a comprehensive PMS enables the implementation of both differentiation and cost-leadership strategies. Specifically, a comprehensive PMS positively mediates the effect of differentiation strategy on organisational and innovative performance, and of cost-leadership strategy on organisational performance. Research limitations/implications Further research could be undertaken in other contexts and consider additional factors, such as the structure, maturity and different uses of PMS, and the cost of measuring performance. Qualitative studies could examine the role of PMS in dynamic environments, as well as the evolution of PMS during strategic transitions. Practical implications Greater consideration should be given to the utilisation of different types of performance indicators when implementing and re-formulating strategy. Originality/value This study clarifies the links between strategy and performance measurement, and it is the first to identify the mediating effect of comprehensive PMS between strategy and company performance.

FEATURES OF CONNECTIVITY AMONG FRANCHISING NETWORKS IN HOTEL INDUSTRY

2020 ◽  
Author(s):  
Tania Dabeva ◽  
◽  
Georgina Lukanova ◽  
Keyword(s):  
Intangible Assets ◽  
Hotel Industry ◽  
Main Thesis ◽  
Business Entities ◽  
Systemic Nature ◽  
Complex Relationships

The main thesis supported in this study is that connectivity is embedded in the hotel franchise due to its systemic nature, the number of participating levels, elements and entities, the complex relationships between them, the transfer of tangible and intangible assets, multifaceted communications of formal and informal nature and others. In this regard, the main purpose of the paper is to reveal the nature of connectivity in the hotel franchise and how it affects the functioning and development of the system. The first part of the report examines the peculiarities of the relationships between business entities in the hotel franchise. The next part presents two main concepts for connectivity management in franchising networks in the hotel industry, and at the end some conclusions and recommendations for the development of franchise partner networks are systematized.

ALOKASI ANGGARAN, INTELLECTUAL CAPITAL, KINERJA KEUANGAN, DAN INDIKATOR KINERJA UTAMA BADAN LAYANAN UMUM

2021 ◽  
Vol 07 (01) ◽  
Author(s):  
Setyo Budi Hartono ◽  
◽  
Wahab Zaenuri ◽  
Fania Mutiara Savitri ◽  
Dessy Noor Farida ◽  
...  
Keyword(s):  
Human Resources ◽  
Financial Performance ◽  
Path Analysis ◽  
Intellectual Capital ◽  
Performance Indicators ◽  
Intangible Assets ◽  
Budget Allocation ◽  
Intangible Asset ◽  
Tangible Assets ◽  
Tangible Asset

Abstrak: Penelitian ini ditujukan pada anggaran dalam bentuk intangible asset (sumber daya manusia) dan tangible asset (aset tetap dan persediaan) yang diprediksi dapat mempengaruhi intellectual capital, kinerja keuangan sekarang dan mendatang, serta indikator kinerja utama. Alokasi anggaran sebagai baromater prioritas dalam mengembangkan intellectual capital ditujukan untuk memenuhi performa keuangan bagi indikator kinerja utama organisasi. Populasi yang juga menjadi sampel yaitu unit dan fakultas pada UIN Walisongo Semarang sebanyak 30 unit. Metode pengambilan sampling menggunakan teknik sampel jenuh yang mengambil seluruh populasi. Data yang digunakan adalah data sekunder berupa laporan tahunan dan laporan pencapaian indikator kinerja utama tahun 2019-2020. Analisis data menggunakan path analysis. Hasil penelitian ini adalah alokasi APBN tahun 2019 UIN Walisongo hanya terfokus pada tangible asset sebesar 82%, sementara 18% dialokasikan untuk intangible asset. Intangible asset tidak berpengaruh secara terhadap semua hubungan, hanya tangible asset saja yang dapat mempengaruhi intellectual capital secara langsung dan kinerja keuangan sekarang secara tidak langsung. Berdasarkan hasil penelitian ini menunjukkan perlu dilakukan audit sumber daya manusia sehingga dapat ditetapkan alokasi kebutuhan anggaran bagi intangible asset-nya. Abstract: This research is aimed at the budget in the form of intangible assets (human resources) and fixed assets and inventories that are predicted to affect intellectual capital, current and future financial performance, as well as key performance indicators. Budget allocation as a priority barometer in developing intellectual capital is aimed at meeting financial performance for the organization's main performance indicators. The population that is also a sample is 30 units and architecture at UIN Walisongo Semarang. The sampling method uses a saturated sample technique that takes the entire population. The data used is secondary data in the form of annual reports and performance indicator reports for 2019-2020. Data analysis using path analysis. The results of this study were that the 2019 State Budget allocation of UIN Walisongo only focused on tangible assets by 82%, while 18% was allocated for intangible assets. Intangible assets do not affect all relationships, only tangible assets can directly affect intellectual capital and current financial performance indirectly. Results Based on this research, it is necessary to conduct an audit of human resources so that they can determine the allocation of budget requirements for intangible assets.

scholarly journals Twenty-one years without monetary correction in Brazil: impacts on the comparability of the accounting information of siderurgical and metallurgical companies

2018 ◽  
Vol 29 (78) ◽  
pp. 355-374
Author(s):  
Wellington Rodrigues Silva Souza ◽  
Marcos Peters ◽  
Aldy Fernandes da Silva ◽  
Maria Thereza Pompa Antunes
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Financial Accounting ◽  
Net Income ◽  
Negative Effects ◽  
Statistical Parameters ◽  
Return On Assets ◽  
Balance Sheets ◽  
Return On Equity ◽  
Accounting Recognition

Abstract The purpose of this study was to empirically verify the existence or not of a distortion in the comparability of information when inflationary effects are omitted from financial statements. Although inflation has been under control in Brazil since the Plano Real, with indices well below those recorded in the 1980s and 1990s, discussing the need for accounting recognition of the effects of inflation remains an extremely relevant and pertinent issue in light of the proposal of accounting to produce faithful information that closely reflects the economic reality in which organizations operate. The results of the research show that financial accounting has been directly affected by the omission of inflationary effects in financial statements, drawing attention to the negative effects this has caused on the quality of the information produced. In order to operationalize the research, the Balance Sheet Monetary Correction (BSMC) was applied to the balance sheets of Brazilian companies from the siderurgical and metallurgical sector listed on the BM&FBOVESPA in the period from 1996 to 2016. Based on the variables net income, return on equity (ROE), and return on assets (ROA), and two conceptual axes of comparability (between entities and between periods), the statistical parameters were developed and the hypotheses were defined, which were tested using the Student t parametric test. This article shows the damage caused to the decision-making process of the external users for whom financial statements are intended when these are prepared neglecting the effects of inflation. This is verifiable through the analyses of the results obtained, including the observation of significant distortions between the means of the corrected indicators and the means of the historical indicators, such as in the case of net income in 2001, 2002, 2012, 2013, 2014, and 2016 (33.98%, 91.92%, -65.54%, -30.01%, -53.59%, and 26.30% variation, respectively), of ROE (-67.16%, -61.43%, -53.06%, -63.46%, -133.81%, and 65.00% variations in 2008, 2009, 2010, 2011, 2014, and 2015, respectively), and of ROA (-26,70%, -41.14%, -33,34%, -43,49%, 98,83%, and -413,68% in 2005, 2009, 2010, 2011, 2012, and 2014, respectively).

The use of environmental performance indicators in “the greenest city in Europe”

2019 ◽  
Vol 14 (1) ◽  
pp. 122-140 ◽  
Author(s):  
Jan Alpenberg ◽  
Tomasz Wnuk-Pel ◽  
Philip Adamsson ◽  
Johannes Petersson
Keyword(s):  
Performance Indicators ◽  
Environmental Performance ◽  
Environmental Indicators ◽  
Structured Interviews ◽  
Content Type ◽  
Study Approach ◽  
External Stakeholders ◽  
Municipal Managers ◽  
Environmental Performance Indicators

Purpose The purpose of this paper is to examine why and how municipal managers and CEOs for municipally owned companies use the environmental performance indicators. Design/methodology/approach A case study approach as a research design was used. In total, 18 semi-structured interviews were conducted among managers for administrative departments and municipal company CEOs. Findings This study found that the environmental performance indicators are used by department managers mainly for resource allocation, control and for teaching the employees. The CEOs of the municipal companies use the environmental indicators for communicating with external stakeholders and see the indicators primarily as marketing tools. The main reason why the environmental performance indicators are used in the municipality can be the strong demand from the local politicians to push the “green agenda,” and therefore the managers have to comply. Research limitations/implications As in any case study, generalizations from the research should be made with care, but since this is only one municipality, further research is needed to find additional evidence. Practical implications The findings of this study have a number of implications for future practice, and it is worth mentioning that clear guidelines for how the information could be made more useful for managers at the managerial level in Växjö municipality (VM) are requested for both the municipal managers and the CEOs. Social implications Overall, this study strengthens the idea that environmental performance indicators could be used to a larger extent for communicating with external stakeholders both for municipal departments and companies. Originality/value The research adds to the literature by examining different patterns of using environmental performance indicators in a unique setting – in VM, which is called “the greenest city in Europe” and is one of the “pioneers” in environmental work and extensively uses performance indicators.

scholarly journals Lack of Information on Intangible Assets in the Financial Statements and a Way to Manage It

2020 ◽  
Vol 7 (3) ◽  
pp. 26-37
Author(s):  
Ya. I. Ustinova
Keyword(s):  
Information Needs ◽  
Intangible Assets ◽  
Financial Statements ◽  
Logical Analysis ◽  
Methodological Framework ◽  
Negative Consequences ◽  
Lack Of Information ◽  
Information Gap ◽  
Information Requests

The article is devoted to the study of localization of the lack of information on intangible assets in traditional financial statements and the analysis of possible ways to manage it. The methodological framework of the research includes methods of comparative, logical analysis, typology and grouping, induction and deduction. The research resulted in ways and means of disclosing the external manifestations of this type of information gap in the reporting and their negative consequences. It also analyses the options for filling in this gap, first of all, by means of the report on intangible assets that complements the structure and contents of traditional statements, and its comparison with the information requests of the company’s stakeholders. The conclusion about the need to revise the concept of preparing and disclosing information about the company’s intangible assets in the financial statements is substantiated. The research can be used in developing the concept of accounting for intangible assets, which can ensure that the gap between the content of financial statements and the information needs of users is bridged.

scholarly journals INTANGIBLE ASSETS IN THE CONSOLIDATED FINANCIAL STATEMENTS OF SERBIAN AND SLOVENIAN LISTED COMPANIES: A PRELIMINARY OVERVIEW OF THE REPORTING PRACTICES

TEME ◽  
2018 ◽  
pp. 167
Author(s):  
Dejan Spasić ◽  
Anton Vorina
Keyword(s):  
Intangible Assets ◽  
Stock Exchange ◽  
Financial Statements ◽  
Listed Companies ◽  
Consolidated Financial Statements ◽  
Reporting Practices ◽  
Reporting Practice ◽  
Survey Results ◽  
Business Combination ◽  
The Republic

The aim of the research is to achieve a conclusion what is the level of the reporting practice on intangible assets in two countries - in the Republic of Serbia and in the Republic of Slovenia trough a comparative descriptive statistics. Consolidated financial statements of listed companies in these two countries were used from the Belgrade Stock Exchange (Serbia) and the Ljubljana Stock Exchange (Slovenia). The reason for the use of consolidated financial statements lies in the fact that they can contain unconsolidated intangible assets already recognized in the separate financial statements of the companies included in the group, as well as internally generated intangible assets that meet the conditions for recognition in a business combination (including Goodwill). The general assessment is that the survey results indicate a very low level of reporting practice of intangible assets in Serbia and relatively satisfactory level of reporting practice in Slovenia. Individual results are given in the fourth part of the paper. 

scholarly journals The Effect of Disclosure and Transparency Criteria In Saudi Banks on The Financial Ratios Indicators

2019 ◽  
Vol 25 (116) ◽  
pp. 290-303
Author(s):  
Mohammad Kamal Kamel Afaneh
Keyword(s):  
Performance Indicators ◽  
Banking Sector ◽  
Saudi Arabian ◽  
Financial Statements ◽  
Monetary Authority ◽  
Financial Indicators ◽  
Return On Assets ◽  
Time Period ◽  
Before And After ◽  
The Impact

The study aimed to measure the effect of applying the disclosure and transparency standards criteria adopted by the Saudi Arabian Monetary Authority on improving performance indicators in the Saudi banking sector, by measuring the extent of the impact of the bank's financial indicators represented by liquidity, profitability and return on assets in Saudi banks by applying the criteria of disclosure and transparency, which is one of the Main principles in the list of governance, which was approved by the Saudi Arabian Monetary Authority. The analytical approach was followed to achieve the goal of the study, as the financial statements of Saudi banks were analyzed during a period of 8-year to test four hypotheses related to measuring the presence of statistically significant differences between the performance indicators of banks before and after applying the disclosure and transparency standards imposed on Saudi banks. The results of the research confirmed the existence of an inverse relationship between the bank’s liquidity and the percentage of Saudi banks ’profits. The more liquidity, the lower the profitability level of banks, which indicates that the high liquidity in Saudi banks has led to a low profitability in this time period, and the study recommended that The need to pay attention to the concept of disclosure and transparency among all related parties in Saudi banks, and banks should find a balance between liquidity and profitability  

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