scholarly journals Analisis Pengaruh Karakteristik Dewan Terhadap Asymmetric Cost Behavior pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2018

2021 ◽  
Vol 6 (2) ◽  
pp. 205-217
Author(s):  
Supriyanto Supriyanto
Keyword(s):  
Stock Exchange ◽  
Control Variable ◽  
Institutional Ownership ◽  
Significant Variable ◽  
Board Size ◽  
Board Characteristics ◽  
Cost Behavior ◽  
Negative Effect ◽  
Asymmetric Cost ◽  
Asymmetric Cost Behavior

Analyzing the effect of the board characteristics on asymmetric cost behavior is the aim of this study. Asymmetric cost behavior is dependent variable, while board characteristics are an independent variable in which there are changes in sales, decrease dummy, interaction term, the board size, and non-executive ratios. In addition, the control variable is owned by institutional ownership. The data population was 1570 data obtained from 314 companies listed on the Indonesia Stock Exchange in 2014-2018. Data samples that had been tested and experienced deviations were 336 samples, therefore, the number of data analyzed is equal to 1234 samples. The annual financial statements were used in this study as secondary data and quantitative research. The result of the study is board characteristics have significant positive effect of changes in sales and interaction terms on asymmetric cost behavior and significant negative effect of decrease dummy on asymmetric cost behavior. The non-significant variable has negative effect on board size and institutional ownership on asymmetric cost behavior, while the ratio of non-executive has positive non-significant effect on asymmetric cost behavior.

scholarly journals Pengaruh Laba, Arus Kas Dan Corporate Governance Terhadap Financial Distress (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2011-2015)

Al-Buhuts ◽  
2017 ◽  
Vol 13 (01) ◽  
pp. 01-22
Author(s):  
Septy indra Santoso
Keyword(s):  
Corporate Governance ◽  
Cash Flow ◽  
Financial Distress ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Board Size ◽  
Negative Effect ◽  
Positive Effect

This study aimed to examine the effect of earnings, cash flow and corporate governance on financial distress. The corporate governance in this study using the indicator managerial ownership, institutional ownership and the board size.  The population in this of the manufacturing companies listed on Indonesia Stock Exchange at the period of 2011-2015. Based on the criteria purposive sampling method, samples obtained is 28 companies in period 2011-2015 so obtain 140 observations. This study used logistic regression analysis.  The result of this research showed that manajerial ownership has a positive effect and the board size have negative effect on the financial distress condition. This research failed to does not effect of the earnings, cash flow and institutional ownership of the financial distress condition.

scholarly journals THE INFLUENCE OF CORPORATE FINANCIALIZATION ON ASYMMETRIC COST BEHAVIOR: WEAKENING OR WORSENING

2020 ◽  
Vol 0 (0) ◽  
pp. 1-21
Author(s):  
Guanping Zhu ◽  
Wenxiu Hu ◽  
Tao Peng ◽  
Chaokai Xue
Keyword(s):  
Internal Control ◽  
Agency Problem ◽  
Negative Relationship ◽  
Control Quality ◽  
Chinese Listed Companies ◽  
Cost Behavior ◽  
Negative Effect ◽  
Asymmetric Cost ◽  
New Evidence ◽  
Asymmetric Cost Behavior

This paper investigates the relationship between corporate financialization and asymmetric cost behavior using the Chinese listed companies over the period of 2009–2017. To examine the heterogeneous impacts of corporate financialization on asymmetric cost behavior, the paper analyzes the subsamples classified by different internal controls, compensation incentives, and agency problems. The multiple linear regression is used to test the research hypothesis. The research finds a negative relationship between corporate financialization and asymmetric cost behavior, which indicates that corporate financialization significantly weakens asymmetric cost behavior. Further studies show that the negative effect of corporate financialization on asymmetric cost behavior is mainly manifested in firms with good internal control quality, strong compensation incentive and low agency problem. On the contrary, the negative effect is insignificant in firms with poor internal control quality, weak compensation incentive and high agency problem. The results can not only enrich the existing literature, but also provide new evidence and inspiration for how to control asymmetric cost behavior of enterprises.

scholarly journals Board characteristics and asymmetric cost behavior: evidence from Egypt

2018 ◽  
Vol 31 (2) ◽  
pp. 301-322 ◽  
Author(s):  
Awad Elsayed Awad Ibrahim
Keyword(s):  
Corporate Governance ◽  
Emerging Economies ◽  
Cost Model ◽  
Ordinary Least Squares ◽  
Content Type ◽  
Board Characteristics ◽  
Cost Behavior ◽  
Asymmetric Cost ◽  
Cost Stickiness ◽  
Asymmetric Cost Behavior

PurposeThis paper aims to provide further evidence on asymmetric cost behavior (cost stickiness) from one of the emerging economies, Egypt. The study provides empirical evidence on the potential impact of corporate governance on nature and extent of asymmetric cost behavior.Design/methodology/approachThe study estimates three multiple regression models using ordinary least squares to examine the behavior of cost of goods sold (COGS) and the influence of board characteristics and other control variables in a sample of 80 listed companies during 2008-2013.FindingsThe analysis provides evidence on COGS asymmetric behavior, where the analysis finds that COGS increases by 1.05 per cent but decrease by 0.85 per cent for an equivalent activity change of 1 per cent, which contradicts the traditional cost model assumption that costs behave linearly. In addition, the analysis finds that firm-year observations with larger boards, role duality and higher non-executives ratio exhibit greater cost asymmetry than others, while firms-years with successive sales decrease, higher economic growth and institutional ownership found to exhibit lower cost stickiness.Originality/valueThis study contributes by providing evidence on asymmetric cost behavior from one of emerging economies. Further, the study extends the very few studies on the relationship between corporate governance and asymmetric cost behavior. In addition, the study contributes by examining a different cost type (COGS) that has been examined by very few studies. Finally, the study provides an evaluation of the 2007 Egyptian Corporate Governance Code in the cost behavior context.

Pengaruh Mekanisme Konflik Keagenan Terhadap Kinerja Perusahaan (Studi di Pasar Modal Indonesia Periode Tahun 2004-2010)

2017 ◽  
Vol 24 (2) ◽  
pp. 83
Author(s):  
Teguh Prasetyo
Keyword(s):  
Service Sector ◽  
Positive Impact ◽  
Stock Exchange ◽  
Control Variable ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Agency Cost ◽  
Agency Conflict ◽  
Pooled Data ◽  
Independent Variable

This research aims to test of agency theory in Indonesian Stock Exchange as proxy variables within agency conflict mechanism for firm performance. It is used secondary data from Indonesian Capital Market Directory (ICMD) and OSIRIS include all industry manufacture, exclude insurance and finace service sector. It's appropriate sampling criteria's and listing in Indonesian Stock Exchange. Then, using pooled data with observation period 2004th round to 2010th. Variables used in this study is the first Asset Utility as agency cost as dependent variabel. The second variabels is dividen, leverage, institutional ownership as mechanism variables to agency conflict as independent variable. Then, the control variable used firm size. The method of analysis used in this study is multiple regression of pooled data analysis. The results of this study is a positive effect dividend to company's performace of the first. Then, the second is a positive impact leverage to company's performace. The last is a positive impact institutional ownership to company's performace. With the result that, mechanism varibles of agency conflict has been play function of binding and oversight of agency conflict.

The Effect of Strategy on the Asymmetric Cost Behavior of SG&A Expenses

2020 ◽  
Author(s):  
Apostolos A. Ballas ◽  
Vassilios-Christos Naoum ◽  
Orestes Vlismas
Keyword(s):  
Cost Behavior ◽  
Asymmetric Cost ◽  
Asymmetric Cost Behavior

Ownership Structure and Dividend Policy in Listed Industrial and Consumer Goods Firms in Nigeria: Heckman’s Two-Stage Approach

2021 ◽  
Vol 3 (3) ◽  
pp. 288-308
Keyword(s):  
Ownership Structure ◽  
Consumer Goods ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Foreign Ownership ◽  
Two Stage ◽  
Second Stage ◽  
Negative Effect ◽  
Block Holders

The decision on the magnitude of dividend has been identified to be highly related to the decisions to pay or not to pay dividends in formulating dividend policy. However, literature seems to be homogeneous and focused on examining the effect of ownership structure on dividend level or probability of paying dividends. Therefore, the paper examines the effect of ownership structure on dividend policy using Heckman’s two-stage technique. Utilizing 304 firm-year observations from industrial and consumer goods firms listed in the Nigerian Stock Exchange for the period within 2009-2019, the result shows that in the first stage, only foreign ownership has a negative significant effect on the probability of paying dividends. However, after accounting for a possible correlation between the probability of paying dividends and dividend pay-out, the result on the second stage exhibits a significant negative effect with block-holders and foreign ownerships on dividend policy while institutional ownership reveals a positive significant effect. The overall results show that the lower the foreign ownership the higher the possibility of paying dividends. Also, higher dividend pay-out is associated with the lower level of block-holders and foreign ownerships coupled with higher institutional ownership in listed industrial and consumer goods firms in Nigeria.

Real Earnings Smoothing and Asymmetric Cost Behavior

2021 ◽  
Author(s):  
Nikolaos I. Karampinis ◽  
Giannis D. Lessis ◽  
Dimitrios Ntounis ◽  
Orestes Vlismas
Keyword(s):  
Earnings Smoothing ◽  
Cost Behavior ◽  
Asymmetric Cost ◽  
Asymmetric Cost Behavior

scholarly journals Sticky cost behavior: evidence from Egypt

2017 ◽  
Vol 7 (1) ◽  
pp. 16-34 ◽  
Author(s):  
Awad Elsayed Awad Ibrahim ◽  
Amr Nazieh Ezat
Keyword(s):  
Corporate Governance ◽  
Information Needs ◽  
Academic Research ◽  
Content Type ◽  
Listed Firms ◽  
Corporate Governance Code ◽  
Cost Behavior ◽  
Asymmetric Cost ◽  
Cost Stickiness ◽  
Asymmetric Cost Behavior

Purpose The purpose of this paper is to provide further empirical evidence on the asymmetric cost behavior, cost stickiness, in an emerging country, Egypt, which lacks academic research on this subject. Design/methodology/approach This study uses multiple regression analysis to analyze the behavior of selling, general, and administrative costs (SG&A) and cost of goods sold (CGS) individually and jointly using total costs (TC) for the period 2004-2011 for Egyptian-listed firms. In addition, the study compares the cost behavior three years prior to and after the application of the corporate governance code in Egypt in 2007. Findings The results indicate that asymmetric cost behavior is common among Egyptian-listed firms as their SG&A, CGS, and TC were found to be sticky during the study period. The application of the corporate governance code in Egypt was found to affect the nature of SG&A – the behavior of these costs changed from sticky before the code to anti-sticky after the application of the code. Moreover, the code was found to affect the magnitude of stickiness of both CGS and TC. Originality/value Greater awareness about cost behavior is important for emerging markets such as Egypt in order to protect investors’ interests and satisfy their information needs. To the best of our knowledge, this study is the first to provide evidence on cost stickiness in Egypt. Moreover, this study provides further evidence on the correlation between corporate governance and asymmetric cost behavior.

The Effect of Co－CEO Structure on Asymmetric Cost Behavior

2021 ◽  
Vol 21 (3) ◽  
pp. 123-145
Author(s):  
Jun Yeung Hong ◽  
Gun Lee
Keyword(s):  
Cost Behavior ◽  
Asymmetric Cost ◽  
Asymmetric Cost Behavior
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