scholarly journals The Relation between Dividend and Financial Constraints to Firm Value

2020 ◽  
Vol 2 (2) ◽  
pp. 32-62
Author(s):  
Adrian Teja ◽  
Wilson A ◽  
Kevin Chanry ◽  
John Iwan Kusno
Keyword(s):  
Cross Section ◽  
Firm Value ◽  
Financial Constraints ◽  
Regression Method ◽  
Publicly Traded ◽  
Dummy Variables ◽  
Investment Projects ◽  
Positive Effects ◽  
Good Investment ◽  
Positive Effect

This study examines the relation between dividends and financial constraints to firm value using publicly traded firms in Indonesia from 2013 to 2017. The very exploration used a repeated cross section regression method to understand monotonic and non-monotonic alliance between dividends and financial constraints to firm value. The non-monotonic correlation measured by dummy variables for 6 dividends categories, i.e. 0 category is defined as firms that did not pay dividends and category 5 is defined as firms that pay dividends with the highest quintile. It is found that monotonic bond lowers the financial constraints that has more important and consistent positive effects on firm value relative to dividends. These findings imply investors to have higher preferences for a firm’s ability to realize good investment projects and provide higher future profits, relative to current profit in the form of dividends. It also found that non-monotonic connection between dividends and firm value and dividends and financial constraints have relatively equal positive effect to firm value.

Social Interaction and Entrepreneurial Intention: An Empirical Investigation for China

SAGE Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 215824402110306
Author(s):  
Xiaobing Huang ◽  
Meng Chen ◽  
Xiaolian Liu ◽  
Isaac Kofi Mensah
Keyword(s):  
Social Interaction ◽  
Social Interactions ◽  
Financial Constraints ◽  
Empirical Investigation ◽  
Entrepreneurial Intention ◽  
Positive Influence ◽  
Regression Method ◽  
Agricultural Entrepreneurship ◽  
The Impact ◽  
Positive Effect

This article investigates the impact of social interactions on household entrepreneurial behavior using the data of the China Family Finance Survey (CHFS) in 2015. The results show that social interaction has a positive influence on household entrepreneurship. More social interactions are associated with a higher likelihood of participating in both business and agricultural entrepreneurship. Moreover, the positive effect of social interaction on entrepreneurship increases with the relaxation of financial constraints faced by households. Finally, entrepreneurship is more motivated by social interaction for women than men. The results obtained in the benchmark are testified to be reliable after addressing the potential endogeneity of social interactions and using a different regression method.

scholarly journals PENGARUH PROFITABILITAS, LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Equity ◽  
2015 ◽  
Vol 18 (1) ◽  
pp. 1 ◽  
Author(s):  
Dwi Rachmawati ◽  
Dahlia Br Pinem
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Regression Method ◽  
Linear Regression Method ◽  
Multiple Linear Regression Method ◽  
Outlier Data ◽  
Industry Sectors ◽  
Positive Effect

This study was conducted to examine the effect of Profitability, Leverage and Firm Size on Firm Value at the Company's  anufacturing base and chemical industry sectors listed in Indonesia Stock Exchange during the years 2013 to 2014. The population in  his study amounted to 55 companies manufacturing industrial  ector basic and chemical contained in the Indonesia Stock Exchange during 2013 to 2014. Samples were obtained in this study of 52 samples selected by purposive sampling method. After outlier data, which eventually resulted 48 samples to be analyzed and tested. Data were tested using multiple linear regression method. These  esults showed that: Provitability significant positive effect on firm value, Leverage not significant effect on firm value and Firm Size positive effect on firm value.

PENGARUH PROFITABILITAS, LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Equity ◽  
2015 ◽  
Vol 18 (1) ◽  
pp. 1
Author(s):  
Dwi Rachmawati ◽  
Dahlia Br Pinem
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Regression Method ◽  
Linear Regression Method ◽  
Multiple Linear Regression Method ◽  
Outlier Data ◽  
Industry Sectors ◽  
Positive Effect

This study was conducted to examine the effect of Profitability, Leverage and Firm Size on Firm Value at the Company's  anufacturing base and chemical industry sectors listed in Indonesia Stock Exchange during the years 2013 to 2014. The population in  his study amounted to 55 companies manufacturing industrial  ector basic and chemical contained in the Indonesia Stock Exchange during 2013 to 2014. Samples were obtained in this study of 52 samples selected by purposive sampling method. After outlier data, which eventually resulted 48 samples to be analyzed and tested. Data were tested using multiple linear regression method. These  esults showed that: Provitability significant positive effect on firm value, Leverage not significant effect on firm value and Firm Size positive effect on firm value.

scholarly journals Working hours reduction, financial constraints, and employment: evidence from Korean firms

2018 ◽  
Vol 16 (4) ◽  
pp. 75-82
Author(s):  
Ji-Young Ahn
Keyword(s):  
Financial Constraints ◽  
Working Hours ◽  
Work Hours ◽  
External Financing ◽  
Publicly Traded ◽  
Firm Level ◽  
Resource Investment ◽  
Financing Cost ◽  
Internal Funds ◽  
Positive Effect

This study analyzes the effect of reducing working time to a 40-hour week standard on employment, using the data of 1,961 publicly traded firms in Korea. The objective of the study is to empirically estimate the economy-wide effect of this working hours reduction on employment in Korea. This paper also attempts to uncover the effect of financial constraints, defined as the degree of accessibility to finance, on employment stability or sustainability. Some economic theories suggest that financial constraints have mixed or conflicting effects on employment. Building on labor and finance literature such as Garmaise (2007), easing financial constraints helps firms to optimally substitute capital for labor, thereby decreasing employment. Likewise, financially constrained firms are limited by the availability of internal funds, and a decrease in the external financing cost will increase firm-level human resource investment, such as employment. Using a longitudinal data on publicly listed companies in Korea, the author examines variations in the timing of implementing the working hours reduction in terms of establishment size to see if the effect of working hours reduction on employment differs with the degree of financial constraints of firms. This paper finds that the economy-wide effect on employment of work-hours reduction is positive, approximately 3.5% increase in employment. The results, however, show that there is no effect of the working hours reduction on employment in less financially constrained firms or larger corporations, whereas a substantial positive effect on employment is in smaller firms or financially constrained firms, supporting the Garmaise’s prediction.

Impact of Digitalization on Service Work in Knowledge-Intensive Business Services: An Empirical Study in Tax Consultancies

2019 ◽  
Vol 3 (4) ◽  
pp. 209-222
Author(s):  
Philipp K. Görs ◽  
Henning Hummert ◽  
Anne Traum ◽  
Friedemann W. Nerdinger
Keyword(s):  
Work Engagement ◽  
Service Work ◽  
Psychological Consequences ◽  
Business Services ◽  
Knowledge Intensive Business Services ◽  
Positive Effects ◽  
Knowledge Intensive ◽  
The Impact ◽  
Positive Effect ◽  
Special Case

Digitalization is a megatrend, but there is relatively little knowledge about its consequences for service work in general and specifically in knowledge-intensive business services (KIBS). We studied the impact of digitalization on psychological consequences for employees in tax consultancies as a special case of KIBS. We compare two tax consulting jobs with very different job demands, those of tax consultants (TCs) and assistant tax consultants (ATCs). The results show that the extent of digitalization at the workplace level for ATCs correlates significantly positively with their job satisfaction. For TCs, the same variable correlates positively with their work engagement. These positive effects of digitalization are mediated in the case of ATCs by the impact on important job characteristics. In the case of TCs, which already have very good working conditions, the impact is mediated by the positive effect on self-efficacy. Theoretical and practical consequences of these results are discussed.

ANALISIS EKSPOSUR EKONOMI DAN FAKTOR-FAKTOR YANG MEMPENGARUHINYA PADA PERUSAHAAN ROKOK YANG TERCATAT DI BEI

Wahana ◽  
2019 ◽  
Vol 21 (2) ◽  
pp. 98-109
Author(s):  
Ida Musdafia Ibrahim ◽  
Arif Haryono
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Cash Flow ◽  
Firm Value ◽  
Tobacco Industry ◽  
Cash Flows ◽  
Least Square ◽  
Exchange Rate Risk ◽  
Positive Effects ◽  
Rate Risk

This study aims to analyze economic exposures and its factors namely exchange rates and inflation, that influence firm value as reflected through firm cash flow. Analytical method used Ordinary Least Square and eviews as analytical tool. This study used secondary data and cigarette industry companies listed on the Indonesia Stock Exchange as samples along 2008 to 2017. Samples choosing method used purposive sampling based on determined criterias. The results showed that partially economic exposure had positive effects on firm value but insignificant. These could be seen from the economic exposure factors influncenced namely exchange rates and inflations.The exchange rate risk has low influenced cash flow was caused of the tobacco industry has low level of export/import.Enhance,inflation also had low effect on cash flow was caused of the tendency of cigarette consumers will continue to buy cigarettes even though its price increases. In short, economic exposure in the tobacco industry has low influence toward firms value. Hence, simultaneously changes in exchange rates and inflation which are economic exposure indicators have a significant effect on cash flows.  Keywords: Economic Exposure, Exchange Rate Risk, Inflation Risk, Firms Value, Cash Flow

Analisis Pengaruh Kepemilikan Blockholder, Kepemilikan Manajerial, Kepemilikan Institusional, dan Komite Audit terhadap Nilai Perusahaan

2018 ◽  
Vol 2 (1) ◽  
pp. 96-121
Author(s):  
Iwan Wirawardhana ◽  
Meco Sitardja
Keyword(s):  
Firm Value ◽  
Audit Committee ◽  
Stock Exchange ◽  
Random Effect ◽  
Random Effect Model ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Estimation Model ◽  
Effect Model ◽  
Positive Effect

The aim of this study is to analyse the effect of Blockholder Ownership, Managerial Ownership,Institutional Ownership, and Audit Committee towards Firm Value. The background of this research isthe agency theory and ownership theory. The population in this study are 46 property companies listedon the Indonesia Stock Exchange (IDX) for the period 2012-2016. By using purposive samplingtechnique, 35 companies are qualified as data samples. This research uses the random effect model asthe estimation model and multiple regression as the method of analysis. The results of this study showsthat Institutional Ownership has a positive effect on Firm Value. Meanwhile, Blockholder Ownership,Managerial Ownership, and Audit Committee have no effect on Firm Value. Moreover, the F-testimplies that the variables, blockholder ownership, managerial ownership, institutional ownership, andaudit committee, simultaneously influence firm value.

scholarly journals The Structural Relationship among Perceived Service Quality, Perceived Value, and Customer Satisfaction-Focused on Starbucks Reserve Coffee Shops in Shanghai, China

2021 ◽  
Vol 13 (15) ◽  
pp. 8633
Author(s):  
Yuhan Ge ◽  
Qing Yuan ◽  
Yaxi Wang ◽  
Keunsoo Park
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Behavioral Intention ◽  
Perceived Value ◽  
Significant Positive Effect ◽  
Coffee Shop ◽  
Perceived Service Quality ◽  
Positive Effects ◽  
Coffee Shops ◽  
Positive Effect

In today’s increasingly competitive coffee industry, the point of running a good coffee shop is no longer to run a coffee and beverage shop simply, but to focus on the quality of service and the value that customers feel as a result. Previous studies have mainly discussed the customer satisfaction and behavioral intention of restaurants, while few studies have explored the influencing factors of customer satisfaction and behavioral intention of chain coffee shops. Given that the perceived service quality theory and DINESERV model can effectively predict customer satisfaction and behavioral intention, this study took 385 consumers in the first Starbucks Reserve flagship store in China as survey objects. SmartPLS 3.0 software was used to explore the relationship among respondents’ perceived service quality, customer perceived value, satisfaction, and behavioral intention. The results show that service quality has a partially significant positive effect on perceived value. Perceived service quality and customers’ perceived value both have significant positive effects on satisfaction. Customers’ satisfaction has a significant positive effect on their behavioral intention. These results indicate that enterprises should strengthen the emotional bond between consumers and enterprises and improve the reliability, assurance, and empathy of perceived service quality to create a better emotional resonance between consumers and the Starbucks brand to improve customer satisfaction. At the same time, it should also promote the symbolic perceived value of Chinese consumers to Starbucks to realize the sustainable development of coffee-shop operation and consumer repurchase. This study expands the research on the service quality, perceived value, and behavioral intention of coffee chain enterprises in the context of non-habitual coffee-drinking countries. Moreover, it provides case support for the operation and research of regional cultural consumption habits of international catering chain enterprises.

scholarly journals The Influence of Dynamic and Adaptive Marketing Capabilities on the Performance of Portuguese SMEs in the B2B International Market

2021 ◽  
Vol 13 (2) ◽  
pp. 579
Author(s):  
Caroline Reimann ◽  
Fernando Carvalho ◽  
Marcelo Duarte
Keyword(s):  
Positive Impact ◽  
International Marketing ◽  
International Market ◽  
Marketing Capabilities ◽  
Moderating Effects ◽  
Competitive Intensity ◽  
Positive Effects ◽  
Marketing Performance ◽  
Market Learning ◽  
Positive Effect

The present investigation aims study the sustainability of the business model of the Portuguese SMEs operating in the B2B International market analyzing the influence of dynamic marketing capabilities and adaptive marketing capabilities in their international marketing performance. It will also analyze the moderating effects of Competitive Intensity within this international scenario. A quantitative study was developed, using a questionnaire as a research method. In total, 335 valid responses were collected from Portuguese SMEs in June 2020. To test the hypotheses, multiple hierarchical regressions were performed. As for the analyzes involving Competitive Intensity environments, namely low and high intensity, dummies were developed to evaluate the different effects produced by the capacities in the International Marketing Performance. This study shows the positive impact of the dynamic marketing capabilities and adaptive marketing capabilities on the international marketing performance of the surveyed companies, essentially from the product development management, supply chain management, vigilant market learning and open marketing. when in a low competitive intensity environment only dynamic marketing capabilities had a positive effect on performance, but in a high, competitive, intensity environment both dynamic marketing capabilities and adaptive marketing capabilities showed positive effects in relation to performance. This study innovates by bringing international marketing, through two marketing capacities, from the perspective of SMEs that perform B2B activities.

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