scholarly journals Pengaruh Kinerja Non Keuangan (Environmental, Social, Governance) terhadap Resiko Investasi Perusahaan

2021 ◽  
Vol 7 (2) ◽  
pp. 155-165
Author(s):  
Agus Triyani ◽  
Suhita Whini Setyahuni ◽  
Fiki Durrotul Makwuna
Keyword(s):  
Negative Impact ◽  
Systematic Risk ◽  
Sustainability Reporting ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Total Risk ◽  
Social Governance ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

This study intends to investigate the impact of sustainability information on the level of firm’s risk. This study uses 103 firms-years observation of public listed companies in Indonesia during 2012 to 2018. Ordinary least squares regression analysis is employed to tested the hypotheses. ESG scores Bloomberg is used as an indicator of sustainability reporting. The theory used in this study is Signaling theory, which is an action taken by the company to provide instructions for investors on how to view the companies prospects. The findings indicate that social information can decrease the level of firm’s risk. Additionally, environmental and governance information have a negative impact on systematic risk only. Neither environmental nor governance information have an impact on non-systematic risk and total risk. This study contributes to the practical implications, especially on how to consider sustainability information on investment’s valuation models. This study also gives a fruitful insight to the literature by giving empirical evidence on the relationship between sustainability information and corporate’s risk.

The impact of executives’ perceptions of environmental threats and organizational slack on innovation strategies

2016 ◽  
Vol 7 (2) ◽  
pp. 216-230 ◽  
Author(s):  
Chengyuan Wang ◽  
Biao Luo ◽  
Yong Liu ◽  
Zhengyun Wei
Keyword(s):  
Cognitive Theory ◽  
Environmental Changes ◽  
Ordinary Least Squares ◽  
Organizational Slack ◽  
Least Squares Regression ◽  
Content Type ◽  
Environmental Threats ◽  
Innovation Strategies ◽  
The Impact ◽  
The Relationship

Purpose The paper aims to study the relationship between executives’ perceptions of environmental threats and innovation strategies and investigate the moderating effect of contextual factor (i.e. organizational slack) on such relations. It proposes a dualistic relationship between executives’ perceptions of environmental threats and innovation strategies, in which different perceptions of environmental threats will lead to corresponding innovation strategies, and dyadic organizational slack can promote such processes. Design/methodology/approach The paper is based on a survey with 163 valid questionnaires, which were all completed by executives. Hierarchical ordinary least-squares regression analysis is used to test the hypotheses proposed in this paper. Findings The paper provides empirical insights about that executives tend to choose exploratory innovation when they perceive environmental changes as likely loss threats, yet adopt exploitative innovation when perceiving control-reducing threats. Furthermore, unabsorbed slack (e.g. financial redundancy) positively moderates both relationships, while absorbed slack (e.g. operational redundancy) merely positively influences the relationship between the perception of control-reducing threats and exploitative innovation. Originality/value The paper bridges the gap between organizational innovation and cognitive theory by proposing a dualistic relationship between executives’ perceptions of environmental threats and innovation strategies. The paper further enriches innovation studies by jointly considering both subjective and objective influence factors of innovation and argues that organizational slack can moderate such dualistic relationship.

Audit committee characteristics and the moderating effect of Malaysian code of corporate governance on IPO liquidity

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amal Mohammed Al-Masawa ◽  
Rasidah Mohd-Rashid ◽  
Hamdan Amer Al-Jaifi ◽  
Shaker Dahan Al-Duais
Keyword(s):  
Corporate Governance ◽  
Initial Public Offerings ◽  
Audit Committee ◽  
Ordinary Least Squares ◽  
Moderating Effect ◽  
Least Squares Regression ◽  
Content Type ◽  
Code Of Corporate Governance ◽  
The Impact ◽  
The Relationship

Purpose This study aims to investigate the link between audit committee characteristics and the liquidity of initial public offerings (IPOs) in Malaysia, which is an emerging economy in Southeast Asia. Another purpose of this study is to examine the moderating effect of the revised Malaysian code of corporate governance (MCCG) on the link between audit committee characteristics and IPO liquidity. Design/methodology/approach The final sample consists of 304 Malaysian IPOs listed in 2002–2017. This study uses ordinary least squares regression method to analyse the data. To confirm this study’s findings, a hierarchical or four-stage regression analysis is used to compare the t-values of the main and moderate regression models. Findings The findings show that audit committee characteristics (size and director independence) have a positive and significant relationship with IPO liquidity. Also, the revised MCCG positively moderates the relationship between audit committee characteristics and IPO liquidity. Research limitations/implications This study’s findings indicate that companies with higher audit committee independence have a more effective monitoring mechanism that mitigates information asymmetry, thus reducing adverse selection issues during share trading. Practical implications Policymakers could use the results of this study in developing policies for IPO liquidity improvements. Additionally, the findings are useful for traders and investors in their investment decision-making. For companies, the findings highlight the crucial role of the audit committee as part of the control system that monitors corporate governance. Originality/value To the authors’ knowledge, this work is a pioneering study in the context of a developing country, specifically Malaysia that investigates the impact of audit committee characteristics on IPO liquidity. Previously, the link between corporate governance and IPO liquidity had not been investigated in Malaysia. This study also contributes to the IPO literature by providing empirical evidence regarding the moderating effect of the revised MCCG on the relationship between audit committee characteristics and IPO liquidity.

New trends in intellectual capital reporting

2018 ◽  
Vol 19 (4) ◽  
pp. 814-835 ◽  
Author(s):  
Francesca Manes Rossi ◽  
Giuseppe Nicolò ◽  
Paolo Tartaglia Polcini
Keyword(s):  
Intellectual Capital ◽  
Design Methodology ◽  
Information Needs ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
University System ◽  
Content Type ◽  
Explanatory Factors ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to explore a new way to disclose intellectual capital (IC) in universities through their websites. Going beyond traditional tools used for intellectual capital disclosure (ICD), this study aims at identifying possible determinants of ICD via the web. Design/methodology/approach This paper analyses the institutional websites of a sample of Italian universities adapting the theoretical framework developed by Low et al. (2015) to the peculiarities of the Italian university system. Moreover, the relationship between certain explanatory factors identified in previous research and the extent of online ICD represented by two disclosure indexes was tested through an ordinary least squares regression model. Findings The analysis reveals the extensive use of ICD via websites, especially regarding human and internal capital, while the disclosure of external capital through this means is still limited. Internationality and online visibility both positively affect the extent of a university’s ICD. Research limitations/implications The paper represents the first study investigating online ICD and its determinants in universities, contributing new knowledge to help answer the how and what of the matter. Practical implications The results can serve as encouragement to university managers to enhance online ICD to meet the information needs of a wider audience. Originality/value This is the first study to provide evidence about online ICD in universities and to reveal some of the possible determinants to improve this disclosure.

scholarly journals Effect of Money Supply on Economic Growth: A Comparative Study of Nigeria and Ghana

2019 ◽  
Vol 7 (3) ◽  
pp. 16
Author(s):  
Cordelia Onyinyechi Omodero
Keyword(s):  
Economic Growth ◽  
Money Supply ◽  
Negative Impact ◽  
Ordinary Least Squares ◽  
Negative Influence ◽  
Positive Influence ◽  
Least Squares Regression ◽  
Monetary Authorities ◽  
Significant Negative Impact ◽  
The Impact

The effect of money supply in enhancing economic growth in Nigeria and Ghana is investigated in this study. The major objectives of the study are to establish the joint and individual influences of money supply mechanisms on economic growth in Nigeria and Ghana. The study employs data from 2009 to 2018 and uses Ordinary Least Squares regression technique for analysis of the data. The findings reveal that broad money supply (M2) has an insignificant negative influence on RGDP in Nigeria, but in Ghana the impact is significant and positive. Broad money supply (M3) exerts insignificant positive influence on RGDP in Nigeria, but significant negative impact on RGDP in Ghana while credit to private sectors (CPS) has insignificant positive influence on RGDP in both Nigeria and Ghana. The study among others suggests that the Monetary Authorities in the two countries should come up with monetary policy strategies that will help drive the economy better and such policies should consider M2 and CPS more as their contributions are necessary for economic expansion that lead to more output and employment.

scholarly journals Negative self-appraisal mediates the relationship between mindfulness and confidence among adolescent female provincial hockey players in South Africa

10.17159/4371 ◽  
2019 ◽  
Vol 31 (1) ◽  
pp. 1-5
Author(s):  
Stephen Walker
Keyword(s):  
Indirect Effect ◽  
Correlation Coefficients ◽  
Ordinary Least Squares ◽  
Mental Toughness ◽  
Adolescent Female ◽  
Least Squares Regression ◽  
Impact Performance ◽  
Hockey Players ◽  
The Impact ◽  
The Relationship

Introduction: Mounting evidence suggests that mindfulness is positively related to athletic performance and athlete wellbeing. However, few attempts have been made to uncover the psychological processes by which mindfulness might impact performance. Objective: To determine whether negative self-appraisal mediates the relationship between mindfulness and the confidence component of mental toughness among provincial adolescent female hockey players. Methods: Provincial adolescent female hockey players (N=486) completed measures of mindfulness, mental toughness-related confidence and negative self-appraisal. Correlation coefficients were calculated between all variables included in the study. An ordinary least-squares regression analysis was performed to test the indirect effect of negative self-appraisal on the relationship between mindfulness and confidence. Results: Negative self-appraisal exhibited an indirect effect on the relationship between mindfulness and the confidence component of mental toughness (b = .06, SE = .0, CI95 = .04, .09). A subsequent Soble test confirmed that negative self-appraisal served as a statistically significant mediator (b = .06, SE = .01, Z = 5.76, p = .001) in the model. Furthermore 78.3% of the variance in the effect of mindfulness on the confidence component of mental toughness was accounted for by negative self-appraisal. Conclusion: The effect of mindfulness on the confidence component of mental toughness among adolescent athletes is mediated by negative self-appraisal. Based on the current findings, mindfulness seems to foster confidence by lessening the impact of rigid negative appraisals of one’s performance and worth as an athlete. Keywords: mindfulness, confidence, negative self-appraisal, mediation, adolescent female athlete

Clarifying the interface between respectful leadership and intention to stay

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ibeawuchi K. Enwereuzor ◽  
Lawrence E. Ugwu
Keyword(s):  
Organizational Context ◽  
Evaluation Criteria ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Intention To Stay ◽  
Content Type ◽  
Mandatory Training ◽  
State Of Research ◽  
The Impact ◽  
The Relationship

PurposeConsidering that leaders play an important role in influencing the work environment and experiences of subordinates as well as the fact that employees like to be respected, the purpose of the current study was to explore supportive supervisor relations as a mediator of the relationship between respectful leadership and intention to stay.Design/methodology/approachData were collected from 389 hospital nurses based on authors' personal networks at three measurement points. This was done to avoid problems associated with collecting data for predictor and criterion variables from the same source at the same time. The direct and indirect effects were tested with ordinary least squares regression-based path analysis.FindingsRespectful leadership was found to be positively related to both supportive supervisor relations and intention to stay. In addition, supportive supervisor relations had a positive relationship with intention to stay. Finally, the relationship between respectful leadership and intention to stay was mediated by supportive supervisor relations.Research limitations/implicationsThe sample were drawn from nurses only in a particularly region of a country and differences may exist among other occupational groups and geographical areas of the country in the way they perceive their leaders' behavior.Practical implicationsManagement of health facilities can utilize information from annual reviews and feedback from subordinates as performance evaluation criteria for rewarding leaders who treat their subordinates respectfully. However, leaders who are disrespectful toward their subordinates could be identified and subjected to mandatory training on respectful leadership.Originality/valueThe current study extends the present state of research on the impact exerted by respectful leadership in an organizational context never examined heretofore; that is, health care context. This is also the first study linking respectful leadership, supportive supervisor relations and intention to stay in unison in a single study.

Does Early Life Racial Discrimination Explain a Mental Health Paradox among Black Adults?

2021 ◽  
pp. 089826432098818
Author(s):  
Courtney S. Thomas Tobin ◽  
Myles D. Moody
Keyword(s):  
Mental Health ◽  
Racial Discrimination ◽  
Early Life ◽  
Ordinary Least Squares ◽  
Health Study ◽  
Least Squares Regression ◽  
Black Adults ◽  
The Life Course ◽  
The Impact ◽  
The Relationship

Objectives: To evaluate the impact of early life racial discrimination (ELRD) on mental health among Black adults. Methods: Data were from the Nashville Stress and Health Study ( n = 618). Ordinary least squares regression models examined the relationship between ELRD and adult psychological distress; logistic regression estimated the probability of past-year major depressive disorder (MDD). We also assessed whether ELRD moderated the relationship between adult discrimination and mental health. Results: Childhood (b = 1.07, SE = .51, p = .04) and adolescent ELRD (b = 1.32, SE = .42, p = .002) were associated with adult distress. Individuals who experienced childhood ERLD had 88% lower odds of adult MDD than individuals with no ELRD. Significant interactions showed that childhood and adolescent ELRD was protective against adult discrimination. Discussion: While ELRD importantly shapes distress and MDD among Black adults, patterns vary by outcome. Results indicate that adult distress and MDD develop through cumulative adversity processes that are further influenced by sensitive periods in the life course.

Internal control weakness and accounting conservatism in China

2016 ◽  
Vol 31 (6/7) ◽  
pp. 688-726 ◽  
Author(s):  
Xudong Ji ◽  
Wei Lu ◽  
Wen Qu
Keyword(s):  
Internal Control ◽  
Negative Impact ◽  
Ordinary Least Squares ◽  
Economic Consequences ◽  
Accounting Conservatism ◽  
Research Approach ◽  
Content Type ◽  
Listed Firms ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this study is to investigate the impact of internal control weaknesses on accounting conservatism in Chinese listed firms. It also investigates the relationship between the demand for external audit and accounting conservatism, and whether additional assurance of internal control reports (ICRs) can mitigate the negative impact of ICWs on accounting conservatism. Design/methodology/approach An empirical research approach is taken through the use of ordinary least squares (OLS) models and hand-collected internal control weakness data from ICRs released by Chinese listed firms. Findings The results of this paper show that the existence of ICWs has a negative effect on accounting conservatism in China. Further, the results demonstrate that both accounting-related and non-accounting-related ICWs affect accounting conservatism. The authors also find that there is a complementary relationship between accounting conservatism and the demand for additional assurance of ICRs, and additional assurance of ICRs can mitigate the negative impact of ICWs on accounting conservatism. Practical Implications This study provides timely evidence to Chinese regulators of the possible economic consequences of the official implementation of internal control standard in China from 2012. The findings of this paper can also benefit regulators around the world and, in particular, the regulators in emerging markets that are considering implement regulations similar to the US SOX. Originality/value The paper demonstrates that a wider scope of ICWs, including non-accounting-related ICWs, also has a significant impact on accounting conservatism. Therefore, this research provides a more general evidence on the relationship between internal control quality and accounting conservatism.

The impact of technological innovation efficiency on firm growth

2019 ◽  
Vol 23 (1) ◽  
pp. 134-155 ◽  
Author(s):  
Rubén Martínez-Alonso ◽  
María J. Martínez-Romero ◽  
Alfonso A. Rojo-Ramírez
Keyword(s):  
Technological Innovation ◽  
Family Involvement ◽  
Firm Growth ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Content Type ◽  
Family Involvement In Management ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to offer new insights regarding an issue that has attracted the interest of multitude academics and practitioners in business management and family firm literature: technological innovation (TI). Specifically, this study brings new knowledge regarding both the impact of TI efficiency on firm growth and the moderating role of family involvement in management on such relationship. Design/methodology/approach The authors use a matched-pairs design and an ordinary least squares regression analysis to examine a sample of 152 Spanish manufacturing firms. Findings First, the authors show that firms obtaining higher TI efficiency are also those that achieve superior growth. Second, the authors reveal that as family involvement in management increases, the positive effect that TI efficiency exerts on firm growth is strengthened. Practical implications This study suggests that family managers should essentially consider various aspects such as tacit knowledge, social capital and long-standing collaborations with stakeholders to reinforce the relationship between TI efficiency and firm growth. Originality/value To the best of the authors’ knowledge, this is the first study that analyses the effect of TI efficiency on firm growth, as well as, when and to what extent family involvement in management influences the TI efficiency–growth relationship. Thus, this paper provides a deeper understanding of the importance that family managers could have on firm growth deriving from TI efficiency.

Ownership dilution and earnings management: evidence from Indian IPOs

2019 ◽  
Vol 46 (3) ◽  
pp. 344-359
Author(s):  
Priyesh Valiya Purayil ◽  
Jijo Lukose P.J.
Keyword(s):  
Earnings Management ◽  
Emerging Market ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Content Type ◽  
Public Firms ◽  
Security Offerings ◽  
Lockup Expiration ◽  
The Impact ◽  
The Relationship

Purpose Prior research on earnings management largely assumes that newly public firms manage earnings opportunistically around IPOs. However, only a few studies have empirically examined the real motives behind newly public firms’ earnings management. The purpose of this paper is to examine the impact of ownership dilution on earnings management among IPO firms. The authors chose the setting of security offerings in an emerging market, which is characterised by unique ownership structure, to examine the possible incentive of owners or pre-IPO shareholders to engage in earnings management. Design/methodology/approach The study employs accrual and real transactions measures to check the presence of earnings management among 409 IPO firms from India during the period 2000‒2018. Subsequently, using ordinary least squares regression models with heteroscedasticity-robust standard errors, this paper examines the relationship between earnings management and selling or dilution incentives of pre-IPO shareholders. Findings The study finds that the degree of earnings manipulation by issuer firms is positively associated with the ownership dilution at the time of IPO as well as around lockup expiration. Practical implications The findings of this study will help the investors and regulators to understand the practice of earnings management among IPO firms and how it is linked to the ownership dilution of pre-IPO shareholders. Originality/value The paper contributes to the limited stream of research that investigates the motives of earnings management among IPO firms. It empirically establishes an association between the selling incentive of pre-IPO shareholders and earnings management.

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