scholarly journals Resilience in Vulnerable Small and New Social Enterprises

2021 ◽  
Vol 13 (24) ◽  
pp. 13546
Author(s):  
Elizabeth A. M. Searing
Keyword(s):  
Panel Data ◽  
Financial Distress ◽  
Large Body ◽  
Social Enterprises ◽  
Financial Ratios ◽  
Revenue Diversification ◽  
Financial Vulnerability ◽  
Small Organizations ◽  
Mixed Support ◽  
The Future

The use of financial ratios in predicting financial vulnerability has a large body of literature, but few studies address resilience and the recovery from financial distress. Further, no vulnerability studies specifically address the needs of small and young social enterprises. This study uses over twenty years of panel data to predict which factors signal the future recovery of small and young social enterprises. There is mixed support for hypotheses found in the literature, and though additional equity and revenue diversification is shown to be beneficial, increased surplus ratios carry implications which vary between financial stressors. Even in a sample of small organizations, we find evidence for the liability of smallness. Implications for practitioners, researchers, and policymakers are discussed.

scholarly journals PREDICTION OF FINANCIAL DISTRESS IN THE AUTOMOTIVE COMPONENT INDUSTRY: AN APPLICATION OF ALTMAN, SPRINGATE, OHLSON, AND ZMIJEWSKI MODELS

2020 ◽  
Vol 1 (4) ◽  
pp. 606-618
Author(s):  
Hendra Pratama ◽  
Bambang Mulyana
Keyword(s):  
Panel Data ◽  
Financial Distress ◽  
Sampling Technique ◽  
Safe Zone ◽  
Financial Ratios ◽  
Grey Zone ◽  
Z Score ◽  
Automotive Component ◽  
Automotive Component Industry ◽  
Early Warnings

This study aims to identify and examine the condition of financial distress in the automotive component industry issuers in the period 2014 ~ 2018, using the Altman Z-score, Springate S-score, Ohlson O-score, and Zmijewski X-score against financial ratios as an analysis form of company management to predict the early warnings of company bankruptcy. This study uses quantitative, secondary, and panel data; while the sample uses a non-probability boring sampling technique of 11 companies. The results showed that these four models can predict financial distress by identifying each model. Altman’s model found 8 distress zone points, 16 grey zone points, and 31 safe zone points. Springate’s model found 37 points in the distress zone, and 18 points in the safe zone. Ohlson's model found 3 points in the distress zone, and 52 points in the safe zone. Zmijewski's model found only 1 point in the distress zone

Financial Distress, Earnings Benchmark and Earnings Management Practices

2021 ◽  
pp. 097226292110109
Author(s):  
Karan Gandhi
Keyword(s):  
Panel Data ◽  
Earnings Management ◽  
Financial Distress ◽  
Management Practices ◽  
Real Earnings Management ◽  
Public Companies ◽  
Large Panel ◽  
Distressed Firms ◽  
Contradictory Evidence ◽  
Financially Distressed

Prior research exhibits contradictory evidence on earnings management practices, both accrual and real, undertaken by the firms in state of financial distress. This study uniquely examines the issue in the presence of earnings-increasing earnings management motivation- meeting earnings benchmark of avoiding losses. For examining the issue, this study analyzes large panel data of Indian public companies for the period 2000–2016. The findings indicate prevalence of earnings-decreasing real earnings management practices, that is, decrease in overproduction and increase in spending on discretionary expenses, in financially distressed firms despite there being motivation to increase earnings to avoid losses. No evidence of accrual earnings management practices has been observed in such firms.

scholarly journals ANALISIS FINANCIAL DISTRESS PADA PT TUNAS BARU LAMPUNG TBK DI BURSA EFEK INDONESIA

2017 ◽  
Vol 13 (2) ◽  
pp. 129-141
Author(s):  
Umi Ambarwati ◽  
Sudarwati Sudarwati ◽  
Rochmi Widayanti
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Financial Ratios ◽  
Z Score ◽  
Effective Strategies ◽  
Operational Costs ◽  
Score Method

This article aims to analyze the health of the company in PT Tunas Baru Lampung TBK in Indonesia Stock Exchange. The data comes from PT Tunas Baru Lampung TBK in 2013-2015. The methods used are Altman Z-Score, Springate, Zmijewski and Fulmer methods. The results of the study show that there are differences in predicted bankruptcy results between the Altman Z-score method, Springate, Zmijewski and Fulmer. This is due to differences in the use of financial ratios and criteria bankruptcy between Altman Z-score, Springate, Zmijewski and Fulmer. For that company is expected to increase sales, perform effective strategies, reduce operational costs to be more efesian so that companies can meet the company's health criteria.   Artikel ini bertujuan untuk menganalisis kesehatan perusahaan pada PT Tunas Baru Lampung TBK di Bursa Efek Indonesia. Data berasal dari PT Tunas Baru Lampung TBK pada tahun 2013-2015. Metode yang digunakan adalah metode Altman Z-Score, Springate, Zmijewski dan Fulmer. Hasil penelitian menunjukkan adanya perbedaan hasil prediksi kebangkrutan antara metode Altman Z-score, Springate, Zmijewski dan Fulmer. Hal ini karena adanya perbedaan penggunaan rasio keuangan dan kriteria kebangkrutan antara Altman Z-score, Springate, Zmijewski dan Fulmer. Untuk itu perusahaan diharapkan meningkatkan penjualan, melakukan strategi yang efektif, menekan biaya operasional agar lebih efesian sehingga perusahaan dapat memenuhi kriteria kesehatan perusahaan.

scholarly journals Classification of the Priority of Auditing XBRL Instance Documents with Fuzzy Support Vector Machines Algorithm

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Guang-Yih Sheu
Keyword(s):  
Support Vector Machines ◽  
Financial Distress ◽  
Fuzzy Variable ◽  
Financial Ratios ◽  
Misclassification Rate ◽  
Benford’S Law ◽  
Support Vector ◽  
Vector Machines ◽  
Benford's Law ◽  
Fuzzy Support Vector Machines

Concluding the conformity of XBRL (eXtensible Business Reporting Language) instance documents law to the Benford's law yields apparently different results before and after a company's financial distress. These results bring an idea of finding fraudulent documents from the inspection of financial ratios since the unacceptable conformity implies a large likelihood of a fraudulent document. Fuzzy support vector machines models are developed to implement such an idea. The dependent variable is a fuzzy variable quantifying the conformity of an XBRL instance document to the Benford's law; whereas, independent variables are financial ratios. Nevertheless, insufficient data are available to define any membership function for describing the fuzziness in independent and dependent variables, but the interval factor method is introduced to express that fuzziness. Using the resulting fuzzy support vector machines model, it is suggested that the price-to-book ratio versus equity ratio may be used to classify the priority of auditing XBRL instance documents. The misclassification rate is less than 30 \%. In conclusion, a new and promising application of fuzzy support vector machines algorithm has been found in this study.

Analisis Ratio Keuangan terhadap Perubahan Kinerja pada Perusahaan di Industri Food and Baverages yang Terdaftar pada BEJ

2005 ◽  
Vol 1 (2) ◽  
pp. 104
Author(s):  
DIAN MERIEWATY ◽  
ASTUTI YULI SEIYANI
Keyword(s):  
Stock Exchange ◽  
Financial Statements ◽  
Financial Statement ◽  
Financial Ratios ◽  
Future Earnings ◽  
Financial Condition ◽  
Total Capital ◽  
Future Earning ◽  
The Future ◽  
And Performance

Financial statements users need financial informotion of companies to analyze their financial condition and performance. Finacial rotios are useful rneasares for explaning the future earning changes. The study focuses on the usefulness of ftnancial ratios in explaning future eamings.The objective of the study is to empirically examine whether financial statement based tinancial ratios hove ability for explaning future earnings. Data in this study were in food and beverages firms listed on the Jaknrta Stock Exchange. Regression analysis were used in testing the ability financial ratios for explaning changes. The multicollinearity test shows that there is no assosiation between independent variables, indicating multieollinearity is not a seriaus problem. The heteroscedasticity test shows that voriances of disturbances are constant for all observation in independentt variables. Therefore heteroscedasticity is not a problem. The empiricolly result showed that, financial ratios in/luences the futureearnings changes for earning after tax are total debt to total capital assets, total assets turnover, and return on investment. Among those sevent financial ratios that are significant influences the future earnings changes for operating prortt is current ratio.Keywords : Financial Ratios, Performance changes of firms, significantlyinfluence.

scholarly journals Actors in Social Agriculture Cooperatives Combating Organized Crime in Southern Italy: Cultivating the Ground

2020 ◽  
Vol 12 (21) ◽  
pp. 9257
Author(s):  
Luca Fazzi ◽  
Susanne Elsen
Keyword(s):  
Organized Crime ◽  
Coming Out ◽  
Southern Italy ◽  
Driving Forces ◽  
Poverty Rate ◽  
Social Enterprises ◽  
Necessary Condition ◽  
Small Organizations ◽  
Social Environmental ◽  
High Level

Southern Italy suffers from a high poverty rate, unemployment, emigration flows, and a strong presence of organized crime in the field of agriculture. This study seeks to investigate the potential of social enterprises as driving forces for the legal and eco-social development of fragile Southern Italian areas. To work in such challenging contexts requires the development of a high level of resilience, which implies the ability to adapt to difficulties and to overcome crises by coming out stronger than before. The initiatives we detected in Southern Italy are examples for the strength that can come from ideal motivations. In the case of social agriculture initiatives in Southern Italy counteracting organized crime, these motivations are an indispensable condition for their survival and growth. The accumulation of problems and difficulties, however, risks corroding motivations of the actors. This can lead to the withdrawal of members, which can have a serious impact on these small organizations. Thus, idealism is a necessary condition to face the challenges of legal and social environmental development, but it is not sufficient on its own, except in the short term, to allow social enterprises to emerge from extremely precarious conditions. Idealism can support resilience, but by itself, it cannot create a sustainable change. There is, therefore, the need to invest in these social enterprises, in the training of the actors involved, and in the selection and acquisition of the skills for strengthening the efficiency and sustainability of businesses and to foster horizontal structures of mutuality and solidarity to create a supportive environment for these social enterprises and their mission.

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