scholarly journals The Nexus between Financial Performance and Equilibrium: Empirical Evidence on Publicly Traded Companies from the Global Financial Crisis Up to the COVID-19 Pandemic

2021 ◽  
Vol 14 (5) ◽  
pp. 218
Author(s):  
Larissa Batrancea
Keyword(s):  
New York ◽  
Financial Performance ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Future Research ◽  
Publicly Traded ◽  
Financial Equilibrium ◽  
Long Run ◽  
The Global Financial Crisis

Financial performance and financial equilibrium are two key aspects that should be monitored by any business manager interested in passing the test of time and overcoming unpredictable events such as economic crises. The organic link between financial performance and financial equilibrium has rarely been studied in the long run for companies listed on the stock market. The present article fills this gap in the literature by examining the degree to which financial performance influenced long-term financial equilibrium using data from 34 major companies publicly traded on the New York Stock Exchange and operating around the world in a wide variety of industries and sectors. The period of analysis spread over a decade (2007Q1–2020Q3) in order to cover two major crises that have marked the dawn of the third millennium and occurred relatively close to one another: the 2008 financial meltdown and the COVID-19 pandemic crisis. By means of panel data modelling, the study showed that the short-term and long-term financial equilibria of these public companies measured by current ratio, quick ratio and debt to equity ratio were significantly impacted by different financial performance indicators. The study addresses various implications of the empirical results and lays out avenues for future research.

scholarly journals The Effect of Leverage, Receivables Turn Over, Firm Size on Financial Performance at Automotive Companies Listed at the Indonesian Stock Exchange

2020 ◽  
Vol 5 (5) ◽  
pp. 1542-1546
Author(s):  
Thomas Sumarsan Goh ◽  
Melanthon Rumapea ◽  
Nagian Toni
Keyword(s):  
Financial Crisis ◽  
Financial Performance ◽  
Firm Size ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Trade War ◽  
The Global Financial Crisis ◽  
Turn Over

The global financial crisis that starting from end of 2019 until today and the trade war between China and United Stated has brought the effect to the slow down of Indonesian economic. The research aims at studying the effect of leverage, receivables turn over, firm size on financial performance at the automotive companies that have been listing at the Indonesian stock exchange, partially and simultaneously

scholarly journals The Integrated Measuring of Working Capital Management Efficiency on Financial Performance in Indonesia Stock Exchange

2015 ◽  
Vol 7 (3) ◽  
pp. 26-33
Author(s):  
Petrus Emanuel De ◽  
Rina Indiastuti . ◽  
Erie Febrian .
Keyword(s):  
Financial Crisis ◽  
Financial Performance ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Chief Financial Officers ◽  
Working Capital ◽  
Data Set ◽  
Crisis Period ◽  
Cash Conversion Cycle ◽  
The Global Financial Crisis

The purpose of this study is to determine the differences effect of working capital efficiency on financial performance during periods of crisis. The measurement is made during the crisis compared to the entire period of observation by using cash conversion cycle (CCC) and working capital policy (both investment policy and financing policy) on the profitability (by return on assets) and market value (by Tobin’s Q). Using all annual financial data of 104 manufacturing firms listed in Indonesia Stock Exchange (IDX) over the period 2005-2013. These periods include the global financial crisis. The panel data set was developed for nine years, which produced 936 firms-years observations. This study uses multivariate regression models with hierarchical regression analysis approach. This approach uses the global financial crisis period as a dummy variable. The results showed that there were differences in the effect of the cash conversion cycle (and its components) and working capital policy on profitability during the crisis period compared to the whole period. In contrast, no differences effect the cash conversion cycle (and its components) and working capital policy on the value of the company in the crisis period compared to the whole period. The manufacturing industries do not apply the efficiency in the management of working capital. The global financial crisis tends the companies to change their working capital policy more efficiently. The researcher can extend this study by doing a qualitative research how to chief financial officers invest and finance day-by-day operation.

Investigating Long-Term Behavior of Milan Stock Exchange (Italy)

2019 ◽  
pp. 304-312
Keyword(s):  
Stock Market ◽  
Stock Price ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Negative Influence ◽  
Stock Market Index ◽  
Emerging Stock Markets ◽  
The Global Financial Crisis ◽  
Long Term Behavior

The main purpose of this chapter is to highlight the long-term behavior of Milan Stock Exchange (Italy) based on the FTSE MIB major stock market index. The empirical analysis covers a long period of time from January 1999 to December 2013 and describes the daily stock price movements in order to identify both financial expansion and contraction cycles. However, Milan Stock Exchange is a developed stock market that exhibits a more stable behavior than emerging stock markets, even stylized facts are much lower in this case. The econometric analysis provides an exhaustive perspective, because selected stock market behavior has changed completely due to the negative influence of the global financial crisis.

A Crisis of Anglo-America

2020 ◽  
pp. 232-250
Author(s):  
Jeremy Green
Keyword(s):  
New York ◽  
Democratic Party ◽  
Global Financial Crisis ◽  
Banking Regulation ◽  
International Banking ◽  
Financial Deregulation ◽  
Institutional Infrastructure ◽  
Anglo American ◽  
The Global Financial Crisis

This chapter explains that the Anglo-American origins of the global financial crisis of 2007/8 had a deep historical-institutional lineage, rooted in the transatlantic transformation from the Keynesian order during the early 1980s. This transformation was itself enabled and conditioned by previous processes of postwar Anglo-American development. The continuation of long-term transatlantic financial liberalization and integration dynamics during the 1980s and beyond placed the markets in New York and London at the heart of the institutional infrastructure that transmitted the crisis globally. Anglo-American preeminence within international banking regulation ensured that the global financial system would accommodate the enormous leveraging-up of major banks. Politically, the conversion of both the UK's Labour Party and America's Democratic Party to the virtues of financial deregulation, as well as their acceptance of the epistemic omnipotence of financial markets, laid the basis for the profoundly misplaced complacence that generated economic vulnerability on an enormous scale. Viewing the events of 2007/8 from the perspective of the longue durée of Anglo-American finance allows one to more fully appreciate the role of the nexus between treasuries, central banks, and private bankers on both sides of the Atlantic in producing the crisis.

Volatility of Malaysian conventional and Islamic indices: does financial crisis matter?

2020 ◽  
Vol 11 (1) ◽  
pp. 1-11 ◽  
Author(s):  
Muhamad Abduh
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Composite Index ◽  
Least Square ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
The Global Financial Crisis ◽  
The Impact

Purpose This study aims to investigate the volatility of conventional and Islamic indices and to explore the impact of the global financial crisis toward the volatility of both markets in Malaysia. Design/methodology/approach The data consist of financial times stock exchange group (FTSE) Bursa Malaysia Kuala Lumpur Composite Index and FTSE Bursa Malaysia Hijrah-Shari‘ah Index covering the period January 2008-October 2014. Generalized autoregressive conditional heteroskedasticity is used to find the volatility of the two markets and an ordinary least square model is then used to investigate the impact of the crisis toward the volatility of those markets. Findings Interestingly, the result shows that Islamic index is less volatile during the crisis compared to the conventional index. Furthermore, the crisis is proven to significantly affect the volatility of conventional index in the short run and Islamic index in the long run. Originality/value This study explores the volatility–financial crisis nexus, especially for the Islamic financial markets, which to the best of the author’s knowledge, is still lacking empirical research which may improve the understanding upon this issue.

scholarly journals Ketidakpastian dan Penggunaan Utang Perusahaan

Akuntabilitas ◽  
2020 ◽  
Vol 13 (2) ◽  
pp. 259-267
Author(s):  
Rita Juliana
Keyword(s):  
Global Financial Crisis ◽  
Stock Exchange ◽  
Economic Recovery ◽  
Core Element ◽  
Financing Policy ◽  
The Core ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Global Financial Crisis

Uncertainty has been discussed as the core element of the slow economic recovery during the global financial crisis 2008-2009. The goal of this paper is specifically aiming to observe the effect of uncertainty to the firm’s financing policy. In this research, we utilize uncertainty in Indonesia level and world level that are developed by Ahir et al. (2018). The sample of this study are Indonesian companies that are listed in Indonesian Stock Exchange (IDX) from period 2007 until 2019. The methodology we used was panel data regression. The result of this study show that uncertainty decrease the firm’s leverage level. This situation is caused by uncertainty that increase firm’s manager concern about their long-term solvency.

scholarly journals The Effects of Corporate Green Efforts for Sustainability: An Event Study Approach

2019 ◽  
Vol 11 (15) ◽  
pp. 4073 ◽  
Author(s):  
Yonghwi Noh
Keyword(s):  
New York ◽  
Event Study ◽  
Stock Exchange ◽  
Iso 14001 ◽  
Long Term Effects ◽  
Public Firms ◽  
Study Approach ◽  
Long Run ◽  
Iso 14001 Certification

This study investigates the long-term effects of corporate green efforts on the financial performances of the US public firms by using the ISO 14001 certification. Based on the natural resource based view, the rigorous event study was employed using 174 US public firms on NYSE (New York Stock Exchange) and NASDAQ (National Association of Securities Dealers Automated Quotations) to analyze the pre and post abnormal performances of the certification during the 1996–2010 period. The results indicate that ROI and Tobins’s Q showed the immediate positive response after the firms’ applying for the certification, implying that the market accepts the announcement of ISO 14001 as a positive signal. Asset turnover also showed positive abnormal performances for the short and long term. The results imply that the corporate green efforts are beneficial to the firm by improving sales and profitability, while the capital market does not clearly respond to these efforts in the long run.

scholarly journals PENGARUH REAL MANIPULATION DALAM MEMODERASI CORPORATE ENVIRONMENTAL DISCLOSURE DAN CORPORATE FINANCIAL PERFORMANCE

2018 ◽  
Author(s):  
Kenny Ardillah
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Corporate Financial Performance ◽  
Short Term ◽  
Environmental Disclosure ◽  
Long Run ◽  
Sample Data ◽  
Short And Long Term ◽  
Positive Effect

<p><em>This study aims to prove empirically the influence of real manipulation in moderating the negative corporate environmental disclosure against corporate financial performance in the short and long term. This research theory focuses on stakeholder theory.</em></p><p><em>The research sample focuses on state-owned companies listed on the Indonesia Stock Exchange in the </em>2013-2016<em> period. The criteria for selecting research samples used purposive sampling method, so that it was obtained 11 companies that became the research sample. Data were analyzed using classic assumption test, descriptive statistic, and moderated regression analysis using </em>SPSS 19.0<em>.</em></p><p><em>The results of this study are corporate environmental disclosure has a positive effect on corporate financial performance in the short term, real manipulation moderates negatively corporate environmental disclosure towards corporate financial performance in the short term, corporate environmental disclosure has no effect towards corporate financial performance in the long run, and real manipulation can not moderate corporate environmental disclosure towards corporate financial performance in the long run.</em></p><p><em> </em></p><p><em>Keywords </em>:<em> Real Manipulation, Corporate Environmental Disclosure, Corporate Financial Performance</em></p>

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