scholarly journals R & D Attention and Profit Performance—An Empirical Study on Listed Companies in China’s Electric Power and Electrical Industries

2021 ◽  
Vol 13 (15) ◽  
pp. 8387
Author(s):  
Shiyin Jing ◽  
Yanbin Li ◽  
Yulong Sun
Keyword(s):  
Electric Power ◽  
Spillover Effect ◽  
Electric Power Industry ◽  
Listed Companies ◽  
Promotion Effect ◽  
Emerging Industries ◽  
Structure Adjustment ◽  
Profit Performance ◽  
The Impact ◽  
D Investment

The electric power and electric industries are basic and strategic emerging industries in China’s national economy. Based on the data of listed companies in China’s electric power and electric industries from 2015 to 2019, this paper empirically studies the impact of research and development (R & D) attention on corporate profitability. The results show that attention to R & D by listed companies in electric power and electric industries will significantly improve enterprise’s profit performance, and this kind of effect has yearly heterogeneity. From 2015 to 2017, R & D attention gradually improved the profit performance of enterprises, but the profit spillover effect of R & D investment in recent years needs to be further strengthened. Further study found that R & D attention has a significant effect on corporate profitability in the private enterprise group, the R & D attention of state-owned enterprises and R & D structure adjustment should be paid more attention; R & D investment can significantly improve the profitability of the electrical industry, but the promotion effect was relatively slow in recent years, and R & D investment has a significant effect on the profitability of listed companies in the electric power industry. Although the promotion effect is not obvious, it shows a steady improvement trend. After variable and model replacement, the empirical regression conclusion of this paper is still robust. The results of this paper help to deepen the understanding of the stage characteristics of the impact of R & D attention on profit performance, and it is of great significance to optimize the efficiency of R & D investment and pay attention to the adjustment of R & D structure in the electric power and electrical industries.

The chief financial officer (CFO) profile and R&D investment intensity: evidence from listed European companies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gianluca Ginesti ◽  
Rosanna Spanò ◽  
Luca Ferri ◽  
Adele Caldarelli
Keyword(s):  
Listed Companies ◽  
Master Of Business Administration ◽  
Chief Financial Officer ◽  
Corporate Investments ◽  
Firm Level ◽  
Content Type ◽  
Doctor Of Philosophy ◽  
The Impact ◽  
D Investment ◽  
Practical Implications

PurposeThis study aims to investigate whether the characteristics of the chief financial officer (CFO) have an impact on the intensity of the corporate research and development (R&D) investment.Design/methodology/approachBased on hand-collected data for the CFOs of a sample of the largest European listed companies for the period 2013–2016, this study uses regression analyses to test empirically the association of CFO education, CFO gender and CFO age with R&D investment intensity.FindingsThe presence of female CFOs, CFOs with a Master of Business Administration (MBA) or Doctor of Philosophy (PhD) degree and older CFOs is positively associated with the intensity of R&D investment.Research limitations/implicationsThis study relies on some observable characteristics of CFOs and focuses on large listed companies.Practical implicationsThe results of this study may help investors, stakeholders and practitioners to understand better which type of CFO characteristics are more likely to result in higher firm-level R&D investment intensity.Originality/valueThis study offers the first insights into the impact of CFOs, as the most prominent C-suite executives, on the level of corporate investments in R&D activity.

scholarly journals The Impact of International Oil Prices on the Stock Price Fluctuations of China’s Renewable Energy Enterprises

Energies ◽  
2019 ◽  
Vol 12 (24) ◽  
pp. 4630 ◽  
Author(s):  
Cody Yu-Ling Hsiao ◽  
Weishun Lin ◽  
Xinyang Wei ◽  
Gaoyun Yan ◽  
Siqi Li ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Stock Prices ◽  
Stock Price ◽  
Capital Investment ◽  
Spillover Effect ◽  
Oil Prices ◽  
Listed Companies ◽  
Oil Price ◽  
Price Fluctuations ◽  
The Impact

In order to address a series of issues, including energy security, global warming, and environmental protection, China has ranked first in global renewable investment for the seventh consecutive year. However, developing a renewable energy industry requires a significant capital investment. Also, the international oil price fluctuations have an important impact on the stock prices of renewable energy firms. Thus, in order to provide implications for market investment as well as policy recommendations, this paper studied the spillover effect of international oil prices on the stock prices of China’s renewable energy listed companies. We used a Vector Autoregressive (VAR) model with innovations using a Factor-GARCH (Generalized Autoregressive Conditional Heteroskedasticity) process to evaluate the impact of market co-movements and time-varying volatility and correlation between the international oil price and China’s renewable energy market. The results show that the international oil price has a significant price spillover effect on the stock prices of China’s renewable energy listed companies. Moreover, the fluctuations of international oil prices have an influence on the stock price variations of Chinese renewable energy listed companies.

Foreign Investments in Electric Utilities: A Comparative Analysis of Belgian and American Companies in Argentina, 1890–1960

2008 ◽  
Vol 82 (3) ◽  
pp. 503-528 ◽  
Author(s):  
Norma S. Lanciotti
Keyword(s):  
Electric Power ◽  
Electric Utilities ◽  
Electric Power Industry ◽  
Electric Utility ◽  
Electric Power System ◽  
Holding Companies ◽  
Power Company ◽  
Utility Companies ◽  
The Impact ◽  
Investment Patterns

This article analyzes the performance of foreign electric-utility companies and the evolution of the electric-power industry in Argentina from 1890 until the end of the 1950s, when the electric utilities were nationalized. It focuses on the decisions and strategies of the subsidiaries controlled by two holding companies: the Société Financière de Transports et d'Entreprises Industrielles (SOFINA) and the American & Foreign Power Company. The study suggests that the divergence in the performance of these two companies was determined both by their investment patterns and by their financial styles and management decisions. The impact of private decisions and public regulation on the Argentinean electric-power system is also explored.

scholarly journals Understanding the Performance of the Electric Power Industry in China

2012 ◽  
Vol 11 (2) ◽  
pp. 62-92 ◽  
Author(s):  
Guy Liu ◽  
Liang Zhang
Keyword(s):  
Electric Power ◽  
Electric Power Industry ◽  
Power Industry ◽  
End Users ◽  
Electricity Sector ◽  
Electricity Supply ◽  
The West ◽  
The Public ◽  
The Impact ◽  
Current Plan

Despite three decades of reform, China's electricity sector is still organized by a “new reformed plan” where capacity investment has been liberalized but prices and production remain controlled. This paper examines the impact of the current plan prices on end-users with reference to the OECD and how the plan price of electricity supply is formed. We argue that the plan price is set in an attempt to balance the interests of the public and the power industry. We find that China's industries do not pay a cheaper price for electricity than the West, and the plan price is formed through bargain between the firm and the state, which allows the firm to have a soft price constraint on its costs.

scholarly journals Analysis of the earnings management methods of China’s electric power companies based on modified Jones model

2021 ◽  
Vol 71 (5&6) ◽  
pp. 82
Author(s):  
Zhibin Liu ◽  
Nian Xie ◽  
Xiaoning Li
Keyword(s):  
Earnings Management ◽  
Electric Power ◽  
Stock Exchange ◽  
Electric Power Industry ◽  
Listed Companies ◽  
Significance Test ◽  
Power Industry ◽  
Fixed Assets ◽  
Jones Model ◽  
The Empirical Analysis

With the constant revision of accounting standards, the earnings management methods are constantly changed and innovated in order to achieve the purpose of beautifying the statements and manipulating profits. This paper took the electricity listed companies as the research object, selected the financial data of 52 listed companies in the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2014 to 2016 as the sample, and employed the SPSS statistics software to analyze the earnings management methods of the listed companies in the electric power industry and to draw the conclusions through empirical research. Based on the preliminary statistical analysis of the earnings management methods of listed companies in the electric power industry, this paper used the modified Jones model to verify the empirical analysis. The main conclusions of this paper are as follows: There is a positive linear relationship between fixed assets management, assets impairment management and discretional accruals of the listed companies in the electric power industry. The degree of its influence is more obvious and stable than that of other earnings management methods, and passed the significance test. The collinear diagnostics can also prove a more reasonable correlation among the variables, indicating that the results obtained from the modified Jones model is more significant.

The Effects of an Automated Maintenance Management System on Organizational Communication

1987 ◽  
Vol 31 (10) ◽  
pp. 1161-1165
Author(s):  
Marjorie B. Bauman ◽  
Donna Churchill-Teran ◽  
Harold P. Van Cott
Keyword(s):  
Electric Power ◽  
Case Studies ◽  
Management System ◽  
Nuclear Power ◽  
Power Plants ◽  
Electric Power Industry ◽  
Maintenance Management ◽  
Functional Requirements ◽  
Information Requirements ◽  
The Impact

This paper describes Electric Power Research Institute (EPRI) sponsored case studies of two nuclear power plants that automated their maintenance management system in an effort to improve maintenance processing. These case studies evaluated the impact of an automated maintenance management system (AMMS) on the organizational interfaces and information requirements of a variety of system users. The goal of the project was to provide guidance to the electric power industry in maintenance management system design. A product of the investigation was a set of guidelines for use by utilities in conducting a front-end functional requirements analysis to help define major information requirements and organizational and data file interfaces.

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