scholarly journals Information transparency in the AEC era

2016 ◽  
Vol 19 (3) ◽  
pp. 43-59
Author(s):  
Ngoc Thanh Bich Nguyen ◽  
Quyen Thi Thanh Le ◽  
Dinh Thi Ngoc Pham ◽  
Anh Thi Lan Nguyen
Keyword(s):  
Firm Size ◽  
Listed Companies ◽  
Legal Framework ◽  
Financial Information ◽  
Stock Exchanges ◽  
Factors Affecting ◽  
Information Transparency ◽  
Fixed Assets ◽  
Asset Turnover ◽  
Asean Economic Community

The ASEAN Economic Community (AEC) was officially established by the end of 2015. Vietnam needs to change not only the legal framework but also information systems – especially financial information – to be more transparent as required by the AEC. This study is to find factors affecting financial information transparency of Vietnam’s companies in fulfilling commitments made by Vietnam to AEC. Employing linear regression model (SPSS), we analyzed data of financial information of 240 listed companies on HOSE. Results indicated that out of independent variables, including fixed assets, firm size, total asset turnover, profit and debts, only firm size is correlated with the transparency in disclosing information of HOSE-listed companies. Based on the findings, we offered some suggestions to investors, stock exchanges, authorities and the listed companies per se to improve the financial information transparency of Vietnamese companies in general and HOSElisted ones in particular, so as to meet information transparency requirements in the era of ASEAN integration.

scholarly journals Transparency of Financial Information on Crowdfunding Platforms – A Prerequisite for Successful Funding Campaigns

2018 ◽  
Vol 24 (2) ◽  
pp. 37-42
Author(s):  
Mina Fanea-Ivanovici
Keyword(s):  
Moral Hazard ◽  
Qualitative Analysis ◽  
Necessary Conditions ◽  
Legal Framework ◽  
Fair Use ◽  
Financial Information ◽  
Information Transparency ◽  
Start Up ◽  
Social Causes

Abstract Crowdfunding, a relatively novel internet-based non-banking funding instrument for startups, innovative, creative or prosocial projects, implies that funders (donors or lenders) and fund seekers (project initiators) interact on a crowdfunding platform. The goal of fund seekers is to raise the necessary amount of money to finance their project, while donors are backers of business or research ideas, social causes or start-up companies. Existing research has proven that for a crowdfunding campaign to succeed, one condition is for the crowdfunding platform to provide the adequate technical functionalities that ensure sufficient financial information both during and after the campaign (such as how the money was used and how the money was returned if the project failed) but also the legal framework through a solid contract between the platform and the fund seeker that can prevent moral hazard of the latter. The purpose of this study is to perform a qualitative analysis of the active crowdfunding platforms in Romania in terms of financial information transparency and to determine whether they fulfil the necessary conditions to ensure fair use of donations by project initiators and distribution of reward to donors

scholarly journals RELATIONSHIP BETWEEN STOCK PRICES AND FINANCIAL RATIOS OF THE LISTED COMPANIES

2018 ◽  
Vol 12 (1) ◽  
pp. 28-36
Author(s):  
Judita Jonuševičienė ◽  
Gintarė Ragauskaitė ◽  
Aurelija Zonienė
Keyword(s):  
Correlation Analysis ◽  
Stock Prices ◽  
Statistical Significance ◽  
Listed Companies ◽  
Financial Ratios ◽  
Short Term ◽  
Fixed Asset ◽  
Fixed Assets ◽  
Asset Turnover ◽  
The Relationship

The relationship between stock prices and financial ratios of the listed companies has been analyzed in differnet contexts - the studies are carried out on companies in different sectors with different financial ratios at different periods. Therefore, as market conditions change so rapidly, there is a need to resume research on this topic. There were selected ratios from the each financial ratios group that may have a relationship with the stock prices. The analysis was implemented by using the data of Lithuanian milk processing companies listed on the Baltic stock exchange over the period from 2010 to 2017. Correlation analysis was performed to determine which financial ratios influence the stock prices. The statistical significance of the relationship between the stock prices and the fixed asset turnover and absolute short-term solvency (the increase of the fixed assets turnover and absolute short-term solvency ratios decrease the stock prices). Spirmen correlation coefficient was calculated for each company individually. The results of the correlation analysis were based on a statistically significant linear multivariate regression model, which describes how the stock prices depend on the fixed asset turnover and short-term solvency ratios: the higher turnover of the fixed assets and short-term solvency ratios – the lower stock prices.

scholarly journals Internet financial reporting and disclosure by listed companies: Further evidence from an emerging country

2012 ◽  
Vol 9 (4-3) ◽  
pp. 351-366 ◽  
Author(s):  
Mohammed Hossain ◽  
Mahmood Ahmed Momin ◽  
Shirely Leo
Keyword(s):  
Financial Reporting ◽  
Firm Size ◽  
Stock Exchange ◽  
Listed Companies ◽  
Financial Information ◽  
The Internet ◽  
Firm Age ◽  
Industry Type ◽  
Emerging Country ◽  
Business Complexity

This paper examines the extent of voluntary financial and non-financial information disclosed on the Internet by an emerging country like Qatar. We tested research hypotheses related to the association between company characteristics and the voluntary dissemination of financial and non-financial information on the Internet based on industry type. A total of 42 companies which are listed on the Qatar Exchange (the only stock Exchange in Qatar) were sampled. An ordinary least regression was undertaken to assess whether voluntary dissemination of information on the Internet was related to firm age, size, profitability, complexity, assets in place, and liquidity. Firm size, assets in-place, and business complexity are variables which are significant in explaining the level of internet financial reporting disclosure, whereas age, profitability, and liquidity are not significant.

Factors affecting profitability in Malaysia

2018 ◽  
Vol 45 (3) ◽  
pp. 442-458 ◽  
Author(s):  
Ali Saleh Alarussi ◽  
Sami Mohammed Alhaderi
Keyword(s):  
Firm Size ◽  
Listed Companies ◽  
Annual Reports ◽  
Current Ratio ◽  
Content Type ◽  
Leverage Ratio ◽  
Factors Affecting ◽  
Turnover Ratio ◽  
Equity Ratio ◽  
Total Sales

PurposeThe purpose of this paper is to examine the factors affecting profitability in Malaysian-listed companies. It has been argued that profitability is the main pillar for any company to survive in the long run. Although profitability is the primary goal of all business ventures, scant attention has been paid to the factors that affect profitability in developing countries. This study investigates the factors affecting profitability in Malaysian-listed companies.Design/methodology/approachThis research is based on five independent variables that were empirically examined for their relationship with profitability. These variables are: firm size (as measured by total sales), working capital (WC), company efficiency (assets turnover ratio), liquidity (current ratio) and leverage (debt equity ratio and leverage ratio). Data of 120 companies listed on Bursa Malaysia covering the period from 2012 to 2014 were extracted from companies’ annual reports. Pooled ordinary least squares regression and fixed-effects were used to analyze the data.FindingsThe findings show a strong positive relationship between firm size (total sales), WC, company efficiency (assets turnover ratio) and profitability. The results also show a negative relationship between both debt equity ratio and leverage ratio and profitability. Liquidity (current ratio) has no significant relationship with profitability.Research limitations/implicationsDue to the time limitation, the data includes only 120 companies listed in bursa Malaysia and covers the period from 2012 to 2014.Practical implicationsThese results benefit internal users (such as mangers, shareholders and employees). They can realize the determinants of enhancing the profitability of their company after the depreciation of the Malaysian currency and therefore concentrate more on the factors that enhance their companies’ profitability. On the other side, other external users (such as investors, creditors, new established companies, tax authority) also may get advantages of these results. It is clear that those users concern about the profitability of companies and the determinants of their profitability after the currency’s depreciation.Originality/valueThis study differs than previous studies in many ways: first, it focuses on non-financial listed companies in Malaysia. Previous studies have concentrated on companies in the financial sector, such as banking and financial institutions or on industrial organizations. Second, this study analyzes the data in companies’ annual reports for a three-year period from 2012 to 2014. During this period, the economy in Malaysia was fluctuating due to currency depreciation. Third, the study used both return on equity and earnings per share as indicators of profitability. Fourth, the results of the study provide empirical evidence that large size firms with efficiently managed assets can improve operating income and ultimately enhance profitability. Last but not least, this study applies the resource-based theory and the trade-off theory.

scholarly journals ANALISIS FAKTOR YANG MEMPENGARUHI TINGKAT INITIAL RETURN (STUDI PADA PERUSAHAAN NON KEUANGAN YANG TERMASUK DALAM INDEKS SAHAM SYARIAH INDONESIA YANG MELAKUKAN INITIAL PUBLIC OFFERING PADA TAHUN 2012-2016)

2019 ◽  
Vol 5 (5) ◽  
pp. 379
Author(s):  
Dhedi Widihartanto ◽  
Ari Prasetyo
Keyword(s):  
Initial Public Offering ◽  
Firm Size ◽  
Stock Price ◽  
Financial Information ◽  
Stock Index ◽  
Total Asset ◽  
Return On Equity ◽  
Initial Return ◽  
Asset Turnover ◽  
Equity Ratio

Iinitial return is a positive return that investors get from underpricing conditions where there is a positive difference between the stock price in the secondary market and the stock price in the primary market on the first day of trading on the stock exchange.This research tries to examine the influence of financial information (Return on Equity, Debt to Equity Ratio, Total Asset Turnover and Price Earning Ratio) and non financial information (offered stock percentage and firm size) on initial return. The sample for this research are 44 non financial firm that include in Indonesia Sharia stock index (ISSI) during period of 2012-2016. This research use multiple regression as analytical methods.The results of this research indicate that financial information (Return on Equity, Debt to Equity Ratio, Total Asset Turnover, Price Earning Ratio) and non-financial information (offered stock percentage and firm size) provide no significant effect on the initial return either partially or simultaneously

scholarly journals Faktor-faktor yang mempengaruhi nilai perusahaan pada perusahaan non keuangan

2018 ◽  
Vol 19 (1) ◽  
pp. 81-91
Author(s):  
DEWI LUSIANA ◽  
DEWI AGUSTINA
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchanges ◽  
Intangible Asset ◽  
Managerial Ownership ◽  
Investment Opportunity ◽  
Financial Leverage ◽  
Asset Liquidity ◽  
Asset Turnover

 The purpose of this research is to get empirical evidence about factor- factor which affect to firm value on non-financial companies. This research was conducted to determine the effect of managerial ownership, financial leverage, profitability, firm size, investment opportunity, dividend policy, intangible asset, liquidity ratio, and asset turnover to firm value. The samples in this research consist of 33 non-financial companies that have been listed in Indonesia Stock Exchanges (BEI) from period 2011 until 2014. Samples selected based on purposive sampling method with total 132 research data were used. The statistical used in this research was multiple regression method. The research showed that financial leverage, dividend policy, liquidity ratio, and asset turnover had no effect to firm value. Only managerial ownership, profitability, firm size, investment opportunity, and intangible asset had effect to firm value.  

scholarly journals FACTORS AFFECTING SEGMENT REPORTING OF LISTED COMPANIES: EVIDENCE FROM LISTED COMPANIES ON HOSE

2015 ◽  
Vol 18 (2) ◽  
pp. 30-39
Author(s):  
Hoang Viet Tran
Keyword(s):  
Information Disclosure ◽  
Listed Companies ◽  
Urgent Problem ◽  
Factors Affecting ◽  
Information Transparency ◽  
Segment Reporting

The information disclosure and transparency in order to reduce the risk for investors is an urgent problem, in which segment reporting plays an important role in providing necessary information. This study evaluated factors affecting segment reporting and offered suggestions for information transparency in segment reporting of listed companies. The results showed that variables of size, leverage, age and ownership are positively correlated with segment reporting. Therefore the authors suggested policies for companies to increase their provision of necessary information, contributing to the reduction of risk for investors

The Severity of Internal Controls over Financial Reporting Deficiencies: Differences among Types and Industries

2014 ◽  
pp. 55-77
Author(s):  
Tatiana Mazza ◽  
Stefano Azzali
Keyword(s):  
Information Technology ◽  
Financial Reporting ◽  
Internal Control ◽  
Service Industry ◽  
Listed Companies ◽  
Internal Controls ◽  
Service Companies ◽  
Finance Industry ◽  
Material Weaknesses ◽  
Fixed Assets

This study analyzes the severity of Internal Control over Financial Reporting deficiencies (Deficiencies, Significant Deficiencies and Material Weaknesses) in a sample of Italian listed companies, in the period 2007- 2012. Using proprietary data the severity of the deficiencies is tested for account-specific, entity level and information technology controls and for industries (manufacturing and services vs finance industries). The results on ICD severity is compared with one of the most frequent ICD (Acc_Period End/Accounting Policies): for account-specific, ICD in revenues, purchase, fixed assets and intangible, loans and insurance are more severe while ICD in Inventory are less severe. Differences in ICD severity have been found in the characteristic account: ICD in loan and insurance for finance industry and ICD in revenue, purchase for manufacturing and service industry are more severe. Finally, we found that ICD in entity level and information technology controls are less severe than account specific ICD in all industries. However, the results on entity level and information technology deficiencies could also mean that the importance of these types of control are under-evaluated by the manufacturing and service companies.

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