scholarly journals Market power or efficiency? An empirical study on the Indonesian fertilizer industry

2021 ◽  
Vol 24 (2) ◽  
pp. 361-378
Author(s):  
Mohamad Egi Destiartono ◽  
Evi Yulia Purwanti
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Market Power ◽  
Chicago School ◽  
Efficiency Score ◽  
Scale Efficiency ◽  
Or Efficiency ◽  
Fertilizer Industry ◽  
Panel Data Regression ◽  
Data Regression

This article aims to analyze the Indonesian fertilizer industry's market structure, efficiency, and performance determinants. This study applies the Structure-Conduct-Performance (SCP) framework proposed by the Harvard (market power) and UCLA-Chicago School (efficiency structure) schools of thought. We run Data Envelopment Analysis (DEA) and panel data regression to analyze the panel data constructed from annual reports of fertilizer producers in 2008 – 2017 and statistical publications from the agriculture ministry. DEA is a nonparametric method that measures technical and scale efficiencies. Meanwhile, panel data regression estimates the determinants of firm performance (ROA). The results show that the fertilizer industry has market power based on three characteristics; the number of incumbents (five), degree of market concentration (95.48 percent), and barrier to entry condition. Meanwhile, its industrial technical efficiency score is low (0.584), but its scale efficiency score is high (0.950). The results also show that firm performance is determined by efficiency, not market power. Both technical and scale efficiency positively and significantly affect performance. On the other hand, market power does not significantly affect performance. This finding supports the UCLA-Chicago School that efficiency is the main factor of firm performance.

scholarly journals STANDAR BIAYA DAN KINERJA: PENGARUH SBKK TERHADAP EFISIENSI ANGGARAN K/L

2019 ◽  
Vol 1 (1) ◽  
pp. 20
Author(s):  
Said Iwan Kusuma ◽  
Septian Bagus Pambudi ◽  
Aziz Wahyu Suprayitno
Keyword(s):  
Data Envelopment Analysis ◽  
Panel Data ◽  
Capital Expenditure ◽  
Efficiency Score ◽  
Data Envelopment ◽  
Work Unit ◽  
Panel Data Regression ◽  
Data Regression ◽  
Representative Work ◽  
Two Stages

Abstract This study aims to measure the budget efficiency at the BPK (Badan Pemeriksa Keuangan) in 2014 - 2017 using DEA (Data Envelopment Analysis). The variable used as the output variable is output produced by the work unit, and as an input variable is the budget realization, specified in the account level of employee expenditure, goods expense expenditure, service expenditure, maintenance expenditure, travel expenditure, output activities honorarium expenditure, other non-operational goods and capital expenditure. This study was conducted in two stages, the first stage is calculating the budget efficiency of the BPK Representative work unit in 33 Provinces. The second stage is to determine the effect of independent variables on budget efficiency. The results shows that the average efficiency score of 33 BPK Representative work unit has always increased from 2014 - 2017, from 0.57 in 2014, 0.79 in 2015, 0.92 in 2016 and 0,95 in 2017. While the results of panel data regression showed that the SBKK (Standar Biaya Keluaran Khusus) and Revision variables had a positive and significant effect on budget efficiency, while the Number of Employees variable did not affect budget efficiency.   Keywords: DEA, budget efficiency, SBKK   Abstrak Penelitian ini bertujuan untuk mengukur tingkat efisiensi anggaran pada BPK (Badan Pemeriksa Anggaran) pada tahun 2014 - 2017 dengan menggunakan DEA (Data Envelopment Analysis). Variabel yang digunakan sebagai variabel output adalah capaian output/keluaran yang dihasilkan satuan kerja, dan sebagai variabel input adalah realisasi anggaran yang dirinci pada level akun belanja pegawai, belanja beban barang, belanja jasa, belanja pemeliharaan, belanja perjalanan, belanja honor output kegiatan, belanja barang non operasional lainnya dan belanja modal. Penelitian ini dilakukan dalam dua tahap, yaitu pada tahap pertama menghitung nilai efisiensi anggaran satuan kerja BPK Perwakilan pada 33 Provinsi. Tahap kedua dalam penelitian ini adalah melihat pengaruh variabel independen terhadap efisiensi anggaran. Dari hasil pengolahan data menggunakan DEA menunjukkan bahwa rata-rata nilai efisiensi 33 satker BPK Perwakilan selalu mengalami peningkatan dari tahun 2014 – 2017, dari sebesar 0,57 di tahun 2014, 0,79 di tahun 2015, 0,92 di tahun 2016 dan 0,95 di tahun 2017. Sedangkan hasil analisis regresi panel data, menunjukkan bahwa variabel SBKK (Standar Biaya Keluaran Khusus) dan Revisi berpengaruh positif dan signifikan terhadap efisiensi anggaran, sedangkan untuk variabel Jumlah Pegawai tidak berpengaruh terhadap efisiensi anggaran.   Kata Kunci: DEA, efisiensi anggaran, SBKK

scholarly journals CEO duality and firm performance: An empirical study on listed companies from an emerging market

2021 ◽  
Vol 5 (2, special issue) ◽  
pp. 194-202
Author(s):  
Pranesh Debnath ◽  
Promila Das ◽  
Najul Laskar ◽  
Shahbaz Babar Khan ◽  
Shweta Dhand ◽  
...  
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Emerging Market ◽  
Secondary Data ◽  
Annual Reports ◽  
Return On Assets ◽  
Ceo Duality ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Impact

The primary purpose of the study is to investigate the impact of CEO duality on firm performance. The study is based on secondary data collected from the published annual reports of respective companies and the Capitaline corporate database. The sample consists of 174 listed non-financial companies for eight years from 2011–12 to 2018–19. This study uses an appropriate panel data regression analysis to examine the impact of CEO duality on firm performance. Based on the panel data regression model, the study found mixed results, i.e., the impact of CEO duality on market capitalization is negative significant; however, the impact becomes positive when the firm performance is measured by return on assets. These outcomes of the present study are consistent with previous studies

scholarly journals Does intellectual capital drive firm performance? Data from secondary sector companies on the Indonesia Stock Exchange

2021 ◽  
Vol 6 (03) ◽  
pp. 107-116
Author(s):  
Akbar Syaifuddin As’ad ◽  
Rosinta Ria Panggabean
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Significant Positive Effect ◽  
Secondary Sector ◽  
Panel Data Regression ◽  
Data Regression ◽  
Considerable Impact ◽  
Positive Effect

This research aims to determine the effects of Intellectual Capital, Leverage, and Liquidity on Firm Performance. Sample are secondary sector companies on the Indonesia Stock Exchange and used panel data regression for analysis; this research found that Intellectual Capital and Liquidity had a significant positive effect on Firm Performance, and Leverage did not have a considerable impact.

A mechanism to improve the allocation of public investment funds

2020 ◽  
Vol 26 (7) ◽  
pp. 1522-1533
Author(s):  
A.V. Larionov
Keyword(s):  
Panel Data ◽  
Random Effects ◽  
Public Investment ◽  
Allocative Efficiency ◽  
Investment Funds ◽  
The Public ◽  
Panel Data Regression ◽  
Data Regression ◽  
Efficiency And Effectiveness ◽  
Effective System

Subject. This article deals with the issue of improving the public investment allocative efficiency. Objectives. The article aims to develop an approach to improve the efficiency and effectiveness of public investment in the economy. Methods. The study is based on a panel data regression with random effects. Conclusions and Relevance. All sectors of the economy have different demand for investment resources attracted, determined by operational and technological aspects. The results of the study can be used to develop an effective system of public investment.

Determinants Of Capital Structure For Multinational And Domestic Companies In India: Panel Data Regression Model

2019 ◽  
Vol 118 (7) ◽  
pp. 147-154
Author(s):  
K. Maheswari ◽  
Dr. J. Gayathri ◽  
Dr. M. Babu ◽  
Dr.G. Indhumathi
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Regression Model ◽  
Business Risk ◽  
Return On Assets ◽  
Panel Data Regression ◽  
Data Regression ◽  
Return On Capital ◽  
Domestic Companies ◽  
The Capital Structure

The capital structure refers to the components of capital needed to establish and expand its business activities. The study was made with an objective to examine the determinants of capital structure of multinational and domestic companies listed in S&P BSE automobile sector. The study concluded that there is significant impact on capital structure determinants such as size, business risk, non debt shield tax, return on assets, tangibility, profit, return on capital employed and liquidity on the capital structure of multinational and domestic companies of Indian Automobile Sector.  

FAKTOR DETERMINAN PEMBENTUK STRUKTUR MODAL PADA PERUSAHAAN SEKTOR FARMASI PERIODE 2012 - 2016

2017 ◽  
Vol 2 ◽  
pp. 241-250
Author(s):  
Neng Ria Kanita ◽  
Hendryadi Hendryadi
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Pharmaceutical Manufacturing ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Panel Data Regression ◽  
Data Regression ◽  
Partial Effects

This study aims to examine the simultaneous and partial effects of profitability, liquidity, and firm size on capital structure. The sample is 10 pharmaceutical manufacturing companies listed in Indonesia Stock Exchange period 2012-2016, using purposive sampling. The technique of analysis used is panel data regression (pooled regression). The results showed that the selected model is the fixed effect. Simultaneously NPM, CR, and Firm Size have a significant effect on capital structure. Partially NPM has a negative and significant effect on capital structure. CR partially have a negative and not significant effect on capital structure. Partially Firm Size have a positive and significant effect on capital structure. Variables that have a significant effect on capital structure are NPM and Firm Size. While CR does not significantly affect the capital structure. Keywords: Capital Structure, Profitability, Liquidity, Firm Size

A Study of Multilayered Profitability Analysis by Using DuPont Model: Evidence from Indian Pharmaceutical Industry

2021 ◽  
pp. 097215092199305
Author(s):  
Pinku Paul
Keyword(s):  
Panel Data ◽  
Pharmaceutical Industry ◽  
Profit Margin ◽  
Pharmaceutical Firms ◽  
Sustainable Performance ◽  
Profitability Analysis ◽  
Panel Data Regression ◽  
Data Regression ◽  
Negative Effect ◽  
Positive Effect

Profitability is used as a prime indicator to measure the sustainable performance of an organization. The current study made an attempt to apply the DuPont model to investigate the multilevel profitability determinants for the pharmaceutical industry of India. The study also estimates an empirical model to predict the association of profitability with factors such as profit margin, asset utilization, leverage, interest load and tax load of firms in the pharmaceutical industry of India. For this purpose, a dataset for 170 companies from 2010–2011 to 2018–2019 was analysed initially by using panel data regression followed by stepwise panel data regression. The study successfully applied and tested the DuPont model with respect to the firms of the pharmaceutical industry in India. It was found that the factors such as profit margin, asset utilization and leverage had a significant positive effect on the firms’ profitability and the factor interest load had a significant negative effect on the firms’ profitability. The tax load does not have an impact on the profitability of the pharmaceutical firms in India. These findings are expected to provide a guide for understanding the profitability of the firms in a better way.

Using information from singletons in fixed-effects estimation: xtfesing

2020 ◽  
Vol 20 (4) ◽  
pp. 965-975
Author(s):  
Laura Magazzini ◽  
Randolph Luca Bruno ◽  
Marco Stampini
Keyword(s):  
Panel Data ◽  
Method Of Moments ◽  
Fixed Effects ◽  
Generalized Method Of Moments ◽  
Panel Data Regression ◽  
Data Regression ◽  
Method Of Moments Estimator ◽  
Fixed Effects Estimation

In this article, we describe the xtfesing command. The command implements a generalized method of moments estimator that allows exploiting singleton information in fixed-effects panel-data regression as in Bruno, Magazzini, and Stampini (2020, Economics Letters 186: Article 108519).

Board Characteristics and Firm Performance: Indian Textiles Sector Panorama

2021 ◽  
pp. 0258042X2110261
Author(s):  
Mukesh Nepal ◽  
Rajat Deb
Keyword(s):  
Firm Performance ◽  
Positive Association ◽  
Policy Implications ◽  
Board Independence ◽  
Board Size ◽  
Significant Positive Association ◽  
Jel Codes ◽  
Financial Measures ◽  
Panel Data Regression ◽  
Data Regression

The study has attempted to examine whether the board size and board independence have any impact on the financial performances of the Indian textile firms. Accessing the data of the 40 sample firms representing the top 100 BSE-listed textile firms during the timeline 2015–2019 and applying the panel data regression model, it has assessed the impacts. Accounting- and market-based financial measures have been proxied, and a significant positive association between the board size and firm performance has been established. Interestingly, a significant inverse relationship between the board independence and financial performance has also been indicated. It has concurred policy implications as the inclusion of more number of board members would likely to increase the firm performance. Moreover, for improving the sound decision-making, firms may chalk out a policy with capping on the engagement of independent directors in other firms. It has acknowledged a few limitations and has sketched a roadmap for posterior studies as well. JEL Codes: G28, G30, M40

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