scholarly journals THE ROLE OF DUALITY MANAGERIAL OWNERSHIP AND BOARDS ON IPO VALUE (AN EMPIRICAL EVIDENCE OF INDONESIAN FIRMS)

2020 ◽  
Vol 5 (2) ◽  
pp. 162-179
Author(s):  
Maximus Leonardo Taolin ◽  
Julia Safitri
Keyword(s):  
Empirical Evidence ◽  
Initial Public Offerings ◽  
The Other ◽  
Managerial Ownership ◽  
Public Offerings ◽  
Managerial Role ◽  
Other Hand ◽  
High Level ◽  
The Impact

The research aims to find the impact of ownership retention, managerial ownership, and boards on value IPO premium and underpricing. We investigate by using hand collect data 202 IPO prospectuses during 2008-2017 and using Warp PLS 5.0 to compute the data. Our finding suggests that may use to guide the investor in making informed decisions to see the level of the proportion of sharehold by old ownership and management. When the high level of ownership retention and managerial ownership, make the value IPO premium and underpricing will be high. On the other hand duality of the managerial role in firms making the value will be achieved. This paper contributes to the value of IPO premium and underpricing literature when influence by ownership share on initial public offerings  context of emerging markets.Keywords: Ownership retention; Managerial Ownership; Boards; IPO premium; underpricing

scholarly journals Entrepreneurship in small and medium-sized enterprises: Comparative study between Slovakia and Poland for the years 2001–2007

2008 ◽  
Vol 54 (No. 8) ◽  
pp. 358-366 ◽  
Author(s):  
I. Ubrežiová ◽  
K. Wach ◽  
J. Horváthová
Keyword(s):  
Comparative Study ◽  
National Economy ◽  
Transition Economy ◽  
The Other ◽  
Regional Structure ◽  
Main Attention ◽  
Supporting System ◽  
Other Hand ◽  
The Impact

The main attention of the submitted paper is devoted to the comparison of development of entrepreneurship in Slovak and Polish small and medium-sized he enterprise sector. The conditions for blooming entrepreneurship are created in the national economy. Especially the role of SMEs in the transition economy, both in Slovakia and Poland, has the impact on SMEs. The entrepreneurship of small and medium-sized enterprises is extended in the whole Slovakia. From the viewpoint of the regional structure, most enterprises are located in the Bratislavský region (30.4%), Košický region (11.8%), Žilinský region (10.1%) and Trenčianský region (10.1%). On the other hand, the least of enterprises were registered in the Nitrianský region (8.9%), Trnavský region (9.2%) and Banskobystrický region (9.6%). Small and medium entrepreneurship is diversed throughout Poland. The average small and medium entreprenership ratio is 44.5, while the highest is in the Mazowieckie region – 55.2% and the lowest in the Podkarpackie region – 30 %. The supporting system for private entrepreneurship in both countries, Slovakia and Poland, is very similar and the entrepreneurs are satisfied with its offer and help.

Representations of the (woman) judge: Hercules, the little mermaid, and the vain and naked Emperor

Legal Studies ◽  
2002 ◽  
Vol 22 (4) ◽  
pp. 602-624 ◽  
Author(s):  
Erika Rackley
Keyword(s):  
Fairy Tale ◽  
The Other ◽  
Women Judges ◽  
Other Hand ◽  
The One ◽  
The Impact ◽  
Alternative Understanding ◽  
Woman Judge

This paper reconsiders images of the judge and, in particular, the position of the woman judge using fairy tale and myth. It begins by exploring the actuality of women's exclusion within the judiciary, traditional explanations for this and the impact of recent changes. It goes on to consider the image of the Herculean judge, arguing that whilst we may view him as an ideological construct, or even as a fairy tale, we routinely deny this to ourselves and to others. This both ensures the normative survival of Hercules and simultaneously constrains counter-images of judges, including that of the woman judge, who becomes almost a contradiction in terms, faced with the need to shed her difference and fit the fairy tale. Like the little mermaid, the woman judge must trade her voice for partial acceptance in the prince's world.This image of silencing which Andersen's tale so vividly captures highlights a paradox in current discourses of adjudication. On the one hand, women judges are viewed as desirable in order to broaden the range of perspectives on the bench, thus making the judiciary more representative; on the other hand, judges are supposed to be without perspective, thus suggesting there is little need for a representative judiciary. Feminists and other commentators negotiate their way uncomfortably through this territory, acknowledging a gender dimension to adjudication, but failing fully to confront its implications. This paper seeks to ‘undress’ the judge, to flush out images of adjudication which deter or prevent women from joining the judiciary and constrain their potential within it. It highlights both the role of the imagination in existing conceptions of adjudication and the increasing necessity for a re-imagined Hercules – an alternative understanding of the judge which women and other groups currently underrepresented on the bench can comfortably and constructively occupy.

Tingkat Kepemilikan Manajerial dan Nilai Perusahaan: Bukti Empiris pada Perusahaan Publik di Indonesia

2006 ◽  
Vol 1 (2) ◽  
pp. 135
Author(s):  
Henry Henry ◽  
Hamin Hamin
Keyword(s):  
Panel Data ◽  
Firm Value ◽  
Fixed Effects ◽  
Firm Heterogeneity ◽  
The Other ◽  
Managerial Ownership ◽  
Fixed Effects Model ◽  
Low Level ◽  
Other Hand ◽  
High Level

Initial analyses using panel data for none intercept model show a positive and significant effect of low level of managerial ownership on firm value ond negative and significant effect of high level of managerial ownership on firm value. This conclusion is dffirent when unobserved firm heterogeneity controlled using firm fixed effects model. Thefixed effects analyses suggest that managerial ownership doesn't have significant effect on firm value. The 2SLS analyses show that both managerial ownership and firm value are jointly endogenous. Managerial ownership has positively impacts on firm value, on higher firm value, on the other hand, inspires larger managerial ownershipKeywords: Managerial Ownership, Firm Yalue, Tobin's Q

scholarly journals MENGELOLA KAMPUNG DENGAN KEARIFAN LOKAL; Belajar dari Kampung Gampingan di Yogyakarta

2017 ◽  
Vol 11 (5) ◽  
pp. 169
Author(s):  
Sidhi Pramudito
Keyword(s):  
Environmental Management ◽  
Community Participation ◽  
Natural Environment ◽  
Environmental Conservation ◽  
The Other ◽  
Other Hand ◽  
The Impact ◽  
The City

Abstract: In recent years many new and modern buildings have emerged in Yogyakarta, on the other hand the existence of kampongs and the natural environment continues to decline, including local wisdom in managing the environment is increasingly abandoned. Kampung Gampingan as a "kampung kota" in the city of Yogyakarta, located on the riverside of the Winongo River. Kampong administrators and it’s citizen Gampingan cooperate to manage and maintain the quality of the kampong environment. For them, the aspect of environmental conservation is very important and considered because it aims to maintain harmonious relationships between humans and the natural environment. The purpose of this paper is to explore information about environmental management in kampong Gampingan, which involves citizens and consider the impact on the natural environment. The results show that community participation, partnerships with various parties (other communities, universities, government and private), and the role of facilitators are very important in the management of kampong based on local wisdom. Community participation is the key to the success or failure of kampong management based on local wisdom.Keywords: kampong management, community participation, local wisdomAbstrak: Dalam beberapa tahun akhir-akhir ini banyak bangunan baru dan modern muncul di Yogyakarta, pada sisi lain keberadaan kampung dan lingkungan alamiah terus berkurang, termasuk kearifan lokal dalam mengelola lingkungan semakin ditinggalkan. Kampung Gampingan termasuk “kampung kota” di kota Yogyakarta, terletak di tepi Sungai Winongo. Pengurus kampung dan warga kampung Gampingan bergotong-royong mengelola dan menjaga kualitas lingkungan kampung. Bagi mereka, aspek pelestarian lingkungan sangat penting dan diperhatikan sebab bertujuan menjaga hubungan harmonis manusia dan lingkungan alam. Tujuan tulisan ini adalah menggali informasi tentang pengelolaan lingkungan di kampung Gampingan, yang melibatkan warga dan mempertimbangkan dampak terhadap lingkungan alam. Hasil penelitian menunjukkan bahwa partisipasi masyarakat, kemitraan dengan berbagai pihak (komunitas lain, perguruan tinggi, pemerintah dan swasta), dan peran fasilitator sangat penting dalam pengelolaan kampung yang berbasis kearifan lokal. Peranserta masyarakat menjadi kunci keberhasilan atau kegagalan pengelolaan kampung berbasis kearifan lokal.Kata kunci: mengelola kampung, partisipasi warga, kearifan lokal

scholarly journals The impact of the adopted secondinstance tax administratiive acts on the budget of the Republic of Serbia

2021 ◽  
Vol 11 (1) ◽  
pp. 118-148
Author(s):  
Ivan Milojević ◽  
Miloš Miljković
Keyword(s):  
The Other ◽  
Tax Revenue ◽  
Tax Administration ◽  
Other Hand ◽  
The Republic ◽  
Tax Payers ◽  
The Impact ◽  
Important State ◽  
Public Revenues

The tax administration, as one of the most important state bodies that participates in the process of collecting public revenues, among other functions it performs, also has the authority to adopt tax administrative acts which determine the amount of tax liability that tax-payers are obliged to pay. taxpayers, on the other hand, are constantly looking for a way to avoid paying the determined taxes or to reduce the tax liability as much as possible. In this process, the activities of both parties have an impact on the budget and the amount of tax revenue collected. The paper discusses the tax administration's rights and obligations, specifically those related to the adoption of tax administrative acts, with an emphasis on the second-instance tax procedure as it directly affects the amount of collected revenues. Furthermore, the paper describes the role of taxpayers in the process of adopting tax administrative acts, focusing primarily on the institute of appeal in this procedure. The available data are also presented supporting the conclusions of this article.

scholarly journals Coercion, copy-cats, and colleagues: staffing the board of the IPO company

2009 ◽  
Vol 7 (1) ◽  
pp. 108-119 ◽  
Author(s):  
Anna Thorsell ◽  
Barbara Cornelius
Keyword(s):  
Initial Public Offerings ◽  
Stock Exchange ◽  
Strong Support ◽  
Public Offerings ◽  
Educational Backgrounds ◽  
High Level ◽  
Industry Sectors ◽  
The Impact ◽  
Mimetic Isomorphism ◽  
Selection Of

122 initial public offerings (IPOs) occurring on the Stockholm Stock Exchange from January 1996 until September 2006 have been examined to assess the impact of institutional isomorphism on the selection of directors for boards facing the transition to listed companies. A high level of union representation as well as the restructuring of boards prior to an IPO and in anticipation of legal changes gives strong support for the influence of coercive isomorphism on IPO firms. Companies within industry sectors make similar choices with regard to their directors, their choices being dissimilar from their associates in other industry groupings. This supports the concepts underlying mimetic isomorphism. Finally normative isomorphism is largely supported by the reliance of corporations on a closed group of directors with similar educational backgrounds. All in all, societal and regulatory pressures, as modelled under institutional theory, are influencing the processes of corporate governance during an IPO

Entrepreneurship Micro-Ecosystems in Practice

2020 ◽  
pp. 113-132
Author(s):  
Ján Rehák ◽  
Rafaela Bueckmann Diegoli ◽  
Miguel Angel Rodríguez Montes
Keyword(s):  
The Body ◽  
The Other ◽  
Entrepreneurial Ecosystem ◽  
University Campuses ◽  
Body Of Knowledge ◽  
Other Hand ◽  
University Level ◽  
The Impact

This chapter addresses the role of university campuses as potentializer of the impact of entrepreneurship on regional entrepreneurship ecosystem. The authors define the role and structure of entrepreneurial micro-ecosystems at a university level based on the body of knowledge focused on entrepreneurial and university ecosystems. Based on a specific case of Tecnológico de Monterrey in Querétaro, Mexico, authors construct a three-layer framework for a better understanding of the entrepreneurial micro-ecosystems and its internal and external interactions. Specifically, authors argue that the entrepreneurial micro-ecosystems are endemic to university campuses, and evolve at any type of entrepreneurship-focused university. On the other hand, these micro-ecosystems are scarcely recognized and managed. The authors believe that when they are accounted for and fostered, they generate an exponential effect both for entrepreneurs at the campus as well as for the regional entrepreneurial ecosystem and development.

The impact of cultural factors on shareholder governance and environmental sustainability: an international context

2020 ◽  
Vol 17 (4) ◽  
pp. 367-385
Author(s):  
Lassaad Ben Mahjoub ◽  
Ines Amara
Keyword(s):  
Environmental Sustainability ◽  
Cultural Factors ◽  
Moderating Effect ◽  
Policy Implications ◽  
The Other ◽  
Content Type ◽  
Other Hand ◽  
The Impact ◽  
Positive Effect

PurposeThis paper aims to examine the effect of the shareholder governance on environmental sustainability by the moderating effect of some cultural factors.Design/methodology/approachThe authors have studied the extent of sustainability by continent. On the other hand, the authors have conducted three empirical models that deal with the effect of shareholder governance on environmental sustainability and also with the moderating effect of cultural factors.FindingsUsing a sample of 140 countries during the year 2018, the authors find a notable and positive effect of the shareholder governance on environmental sustainability. Regarding the role of cultural factors, the authors found that the factor gender parity is more important than other factors.Practical implicationsThe findings have policy implications for governments aiming to combat environmental sustainability and shareholder governance.Originality/valueThis research has approached cultural factors in a different context, which is an eastern country, which are completely different from those of western countries. On the other hand, the subject of sustainability is not sufficiently threated in this country (Saudi Arabia).

scholarly journals Do Professional Commitment and Anticipatory Socialization Affect The Intention To Do Whistleblowing?

2020 ◽  
Vol 13 (3) ◽  
pp. 241-248
Author(s):  
Claudia Tompunu ◽  
◽  
Frisky Jeremy Kasingku ◽  
Ika Prayanthi ◽  
◽  
...  
Keyword(s):  
Empirical Evidence ◽  
Statistical Evidence ◽  
The Other ◽  
Accounting Students ◽  
Professional Commitment ◽  
Anticipatory Socialization ◽  
Other Hand ◽  
The Government ◽  
The Impact ◽  
Whistleblowing Intention

The corruption in Indonesia is one of the biggest problems the government and the business must face. Employee in the entity may provide one of the solutions for this problem. They may do the whistleblowing when they know that there is violation in the entity. Professional commitment and anticipatory socialization are the factors to foster whistleblowing. This study aims to obtain empirical evidence regarding the impact of professional commitment and anticipatory socialization toward whistleblowing intention. 155 eligible accounting students are taken as subjects for this study. The questionnaire is disseminated electronically to the sample. As a result, professional commitment affects whistleblowing intentions of accounting students. Furthermore, male who profess professional commitment will likely do the action of whistleblowing compare to female. On the other hand, there is no statistical evidence found to prove that anticipatory socialization affects the intention to do whistleblowing. Consequently, the system of the company must facilitate the improvement of professional commitment so it may foster the intention of the employees to whistleblow. Therefore, manager should pay attention to degree of the professional commitment of the employees.

scholarly journals When Country Matters More than Europe: What Role for EU Cohesion Policy?

2020 ◽  
Vol 46 ◽  
pp. 93-109
Author(s):  
Giovanni Perucca
Keyword(s):  
Empirical Evidence ◽  
Regional Policy ◽  
The Other ◽  
European Identity ◽  
Cohesion Policy ◽  
Other Hand ◽  
The Relationship ◽  
Regional Divergence

This paper analyses the relationship between country and European identity, and how Cohesion Policy can influence it. While the two sentiments are positively correlated, empirical evidence shows that this association significantly decreased in the last two decades, jointly with an increase in the support of nationalisms and Eurosceptic parties. It is therefore interesting to understand what is the role of EU regional policy in mediating citizens’ identification. To elements of Cohesion Policy are expected to be associated to the citizens’ preference for their country over Europe: the intensity of funding and the perceived outcome of EU regional policy. Results show that regional divergence is mirrored by a divergence also in identity, i.e. citizens identify more and more with their country and less with Europe. On the other hand, the intensity of funding is substantially neutral in this process.

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