scholarly journals Corporate Financialization, Financing Constraints, and Environmental Investment

2021 ◽  
Vol 13 (24) ◽  
pp. 14040
Author(s):  
Lan Tao ◽  
Lianfang Chen ◽  
Kun Li
Keyword(s):  
Negative Relationship ◽  
State Enterprise ◽  
Small Scale ◽  
Financing Constraints ◽  
Financial Assets ◽  
Short Term ◽  
Environmental Investment ◽  
Inhibiting Effect ◽  
The Relationship

This paper took non-financial listed companies on A-shares from 2014 to 2018 as samples to empirically test the relationship between corporate financialization, financing constraints, and environmental investment. The empirical results showed that the degree of corporate financialization is negatively related to environmental investment, and the negative relationship between long-term financial assets and environmental investment is more significant. Financialization has a “crowding out” effect on environmental investment when the firm is a non-state enterprise or a small-scale enterprise. Financialization has a “reservoir” effect on environmental investment when it is subject to less financing constraints. Further analysis revealed that both long-term and short-term financial assets have an inhibiting effect on environmental investment when environmental regulations are stringent. This paper provides a theoretical reference for companies to make investment decisions on financial assets and to improve their ability on environmental investment and green sustainability.

An Overview of Illegal Logging Situation in Peninsular Malaysia

2013 ◽  
Vol 1 (2) ◽  
pp. 24-30
Author(s):  
Iqtie Qamar Laila Mohd Gani ◽  
Razak Wahab ◽  
Mohd Sukhairi Mat Rasat
Keyword(s):  
Negative Relationship ◽  
Peninsular Malaysia ◽  
Small Scale ◽  
Illegal Logging ◽  
Tropical Timber ◽  
Food And Agriculture ◽  
Food And Agriculture Organization ◽  
The Government ◽  
The Relationship

The trends of illegal logging and current situation of illegal logging in Peninsular Malaysia were studies. Data and information from year 2001 to 2010 on volume of log productions (m3) and volume of illegal log productions were collected from the government and private sectors such as the Forestry Department Peninsular Malaysia (FDPM), International Tropical Timber Organization (ITTO) and Food and Agriculture Organization (FAO). The data obtained were statistically analyzed using the correlation analysis to determine the direction and the strength of the relationship between log productions and illegal log productions. The results showed that the trends of illegal logging are on the increased. Eighteen percents (18%) of the logs cut annually are obtained from illegal operation. The log productions and illegal log productions resulted have a weak negative relationship as r = -0.271, p = 0.603 and do not significantly related. The illegal log productions are inversely related with the log productions. It can be concluded that the log productions in Peninsular Malaysia occurred in a small scale and the situation is under control. Proper long-term planning needs to be generated and implemented to prevent the problem from becoming worse.

Do Indian Companies Manage Earnings Before Share Repurchase?

2019 ◽  
Vol 21 (6) ◽  
pp. 1427-1447
Author(s):  
Sarthak Kumar Jena ◽  
Chandra Sekhar Mishra ◽  
Prabina Rajib
Keyword(s):  
Market Share ◽  
Abnormal Return ◽  
Negative Relationship ◽  
Small Sample ◽  
Share Repurchase ◽  
Open Market ◽  
Short Term ◽  
The Impact ◽  
The Relationship

This article aims to detect the opportunistic EM before share buyback and its impact on the short-term and long-term abnormal return. The study also examines the relationship between EM and promoters’ holdings in the company. A sample of 117 companies over 1998–2013 is analyzed in the study. The quality of earnings is measured using discretionary accruals (DAs), and it is calculated by four different methods, that is, the Healy model (1985), DeAngelo model (1986), modified Jones model (1995) and performance-matched model (2005). Cumulative abnormal return (CAR) is calculated for a short-term abnormal return at around 3 days of the share repurchase announcement. Post-buyback buy hold abnormal return (BHAR) for 1 year is calculated for long-term performance. The regression model is used to examine the impact of DA on both CAR and BHAR. The findings of the article show that share buyback companies manage their earnings downward in the previous year of share repurchase than the year of share purchase and the next year of share repurchase. The sample firms deflate their earnings more as compared to matching non-buyback firms. Firms manage their earnings downward before open market share repurchase than the tender offer. There is a significant and negative relationship between abnormal accruals and 1-year buy hold abnormal return post-open market share repurchase. The study further observed that there is a negative relationship between promoters’ holdings and EM. The study is constrained by the small sample size, so the results should be viewed by keeping these limitations in mind. The article is the first study on the detection of the opportunistic EM before buyback and examination of the relationship between the earnings quality and abnormal return in the Indian context.

Relationships between temperament and growth in a feedlot and commercial carcass traits of Bos indicus crossbreds

1997 ◽  
Vol 37 (4) ◽  
pp. 407 ◽  
Author(s):  
H. M. Burrow ◽  
R. D. Dillon
Keyword(s):  
Bos Indicus ◽  
Negative Relationship ◽  
Flight Speed ◽  
Short Term ◽  
Before And After ◽  
Speed Score ◽  
Fat Thickness ◽  
Dressing Percentage ◽  
The Relationship

Summary. Two cohorts of Bos indicus crossbreds were studied to determine the relationships between temperament and growth in a feedlot and commercial carcass characteristics. Prior to entry to the feedlot, one cohort received intensive, short-term training at weaning but minimal handling before and after weaning, while the second cohort received similar training at weaning and also experienced a 4-month period of relatively intense handling immediately before entering the feedlot. Both cohorts entered the feedlot at similar ages. Temperament was recorded as the animal’s flight speed, which is the time taken for the animal to cover 1.7 m after leaving a weighing crush, with fast times indicating animals that have poor temperaments. Average flight speed scores of animals in the 2 cohorts differed substantially, with 51 and 12% of animals in cohorts 1 and 2 respectively having fast flight speed scores. Conversely, 23 and 69% of animals in cohorts 1 and 2 respectively had slow flight speed scores and could therefore be regarded as docile. In the first cohort, animals with slow flight speeds gained weight more rapidly (P<0.05) to achieve heavier slaughter and carcass weights (P<0.05) than animals with fast flight speeds. The relationship between flight speed and growth in the feedlot in the second cohort was not significant, although animals with the fastest flight speeds in that cohort had the lowest liveweight gains. Docile animals in both cohorts had comparable liveweight gains in the feedlot. These results suggest that animals with slow flight speed scores (good temperaments) may grow faster in a feedlot than animals with faster flight speed scores (poorer temperaments), regardless of whether the favourable scores result from intensive, long-term handling or because the animals are naturally docile. There was no relationship in either experiment between flight speed and fat thickness or carcass bruising, when bruising was scored simply as presence or absence of bruising. A negative relationship was evident between flight speed score and dressing percentage in the second cohort (P<0.05). The relationship between flight speed and dressing percentage was not significant in the first cohort. It is suggested that feedlot operators could select potential feedlot animals on the basis of temperament before entry to the feedlot to improve performance in the feedlot.

scholarly journals External Debt, External Reserves, Debt Service Costs and Economic Growth: Implications for the Nigerian Transport Sector

2021 ◽  
Vol 12 (1) ◽  
pp. 182-191
Author(s):  
Osadume C. Richard ◽  
Edih University Ovuokeroye
Keyword(s):  
Economic Growth ◽  
External Debt ◽  
Negative Relationship ◽  
Debt Service ◽  
Transport Sector ◽  
Short Term ◽  
Key Sectors ◽  
The Government ◽  
The Relationship

Abstract The objective of the study presented in this article is to examine the relationship between external debt (EXDT), external reserves (EXRS), total debt service costs (TDS) and Nigeria’s economic growth (RGDP) and how these variables impact on the Nigerian transport economy employing profligacy theory. The study used secondary data for Nigeria for the period 1979 to 2019 obtained from the International Debt Office (WBG). The econometric techniques used include OLS, Granger causality and Engle-Granger cointegration at a 0.05 confidence level. The results show that EXDT has a statistically significant negative relationship with EXRS, with no statistically significant relationship existing with RGDP and TDS in the short term. All the variables showed significant cointegration over the long term, with the conclusion that the relationship between EXRS and EXDT is negatively significant in the short term, while the other variables are insignificant. The recommendations of the study include, that the government and monetary authorities should endeavour to reduce the creation of foreign debt for nonreproductive projects in key sectors due to its adverse effect on external reserves, and instead pursue aid, grants and domestic long-term loan options necessary for effective growth of the transport and other key sectors of the economy.

Risk Attitude and Corporate Investment under Output Market Uncertainty: Evidence from The Mekong River Delta, Vietnam

2016 ◽  
pp. 59-70
Author(s):  
Ninh Le Khuong ◽  
Nghiem Le Tan ◽  
Tho Huynh Huu
Keyword(s):  
Negative Relationship ◽  
Risk Attitude ◽  
Business Strategies ◽  
Risk Averse ◽  
Market Uncertainty ◽  
Firm Investment ◽  
Output Market ◽  
The Impact ◽  
The Relationship

This paper aims to detect the impact of firm managers’ risk attitude on the relationship between the degree of output market uncertainty and firm investment. The findings show that there is a negative relationship between these two aspects for risk-averse managers while there is a positive relationship for risk-loving ones, since they have different utility functions. Based on the findings, this paper proposes recommendations for firm managers to take into account when making investment decisions and long-term business strategies as well.

Molecular biology of enzyme adaptations in higher eukaryotes

Genome ◽  
1989 ◽  
Vol 31 (1) ◽  
pp. 272-283 ◽  
Author(s):  
Donal A. Hickey ◽  
Bernhard F. Benkel ◽  
Charalambos Magoulas
Keyword(s):  
Molecular Biology ◽  
Tissue Specificity ◽  
Enzyme System ◽  
Direct Interaction ◽  
Evolutionary Genetics ◽  
Short Term ◽  
Eukaryotic Genes ◽  
Higher Eukaryotes ◽  
The Relationship

Multicellular eukaryotes have evolved complex homeostatic mechanisms that buffer the majority of their cells from direct interaction with the external environment. Thus, in these organisms long-term adaptations are generally achieved by modulating the developmental profile and tissue specificity of gene expression. Nevertheless, a subset of eukaryotic genes are still involved in direct responses to environmental fluctuations. It is the adaptative responses in the expression of these genes that buffers many other genes from direct environmental effects. Both microevolutionary and macroevolutionary patterns of change in the structure and regulation of such genes are illustrated by the sequences encoding α-amylases. The molecular biology and evolution of α-amylases in Drosophila and other higher eukaryotes are presented. The amylase system illustrates the effects of both long-term and short-term natural selection, acting on both the structural and regulatory components of a gene–enzyme system. This system offers an opportunity for linking evolutionary genetics to molecular biology, and it allows us to explore the relationship between short-term microevolutionary changes and long-term adaptations.Key words: gene regulation, molecular evolution, eukaryotes, Drosophila, amylase.

scholarly journals BANK PROFITABILITY AND MACROECONOMY: EVIDENCE FROM LITHUANIA

2017 ◽  
Vol 24 (2) ◽  
pp. 383-405 ◽  
Author(s):  
Laurynas NARUŠEVIČIUS
Keyword(s):  
Banking Sector ◽  
Short Term ◽  
Empirical Examination ◽  
Bank Profitability ◽  
Pooled Mean Group ◽  
Real Gdp ◽  
Income Statement ◽  
Main Determinants ◽  
The Relationship

The purpose of this paper is to investigate the relationship between profitability of the Lithuanian banking sector and its internal and external determinants. We use the panel error correc­tion model to assess long-term and short-term determinants of items from bank income statements (net interest income, net fee and commission income and operating expenses). The results of the pooled mean group estimator show that bank size and real GDP are the main determinants in the long-term. Meanwhile, empirical examination suggests various variables as short-term determinants of income statement items. The pooled mean group estimation technique and the analysis of sepa­rate income statement items enable us to have a better insight into the Lithuanian banking sector and determinants of its revenue and expenses.

scholarly journals Kecerdasan Emosi Dan Depresi Pada Mahasiswa Yang Sudah Menikah

2019 ◽  
Vol 6 (2) ◽  
pp. 146
Author(s):  
Azizah Fitriah
Keyword(s):  
Emotional Intelligence ◽  
Hypothesis Test ◽  
Negative Relationship ◽  
Field Research ◽  
Short Term ◽  
Significant Negative Relationship ◽  
Correlational Approach ◽  
The Individual ◽  
Married Students ◽  
The Relationship

Every human being will one day experience a tense period in the short term when facing known problems such as career pressures, family disputes or quarrels, material pressures, and personal despair, and we will think that this is depression, which is not is an important problem because it will resolve itself, but none of these fleeting conditions is depression. Good emotional intelligence can reduce aggression, especially in adolescents. Therefore, if emotions are managed successfully, the individual will be able to entertain themselves when overwritten by sadness, can release anxiety, moodiness or offense and rise quickly again from it all. This research is field research with a correlational approach, exploring the relationship between depression and emotional intelligence in married students. The results of the hypothesis test show that between emotional intelligence and depression in married students has a significant negative relationship (XY = -0.411; sig = 0.014 <0.05). This is in accordance with the data obtained from the SPSS 19 for Windows program, stating that r table 0.334 and r xy (r hit) -0.411, said to be significant if r xy = 0.411> r table = 0.334. In other words, the higher the emotional intelligence of students who are married, the lower the possibility of depression.

scholarly journals Bootstrap ARDL Test on the Relationship among Trade, FDI and CO2 Emissions: Based on the Experience of BRICS Countries

2019 ◽  
Author(s):  
Fumei He ◽  
Ke-Chiun Chang ◽  
Min Li ◽  
Xueping Li ◽  
Fangjhy Li
Keyword(s):  
Foreign Direct Investment ◽  
Causal Relationship ◽  
Co2 Emissions ◽  
Direct Investment ◽  
Export Trade ◽  
Short Term ◽  
Brics Countries ◽  
The Relationship ◽  
Cointegration Relationship

We used the Bootstrap ARDL method to test the relationship between the export trades, FDI and CO2 emissions of the BRICS countries. We found that China's foreign direct investment and the lag one period of CO2 emissions have a cointegration on exports. South Africa's foreign direct investment and CO2 emissions have a cointegration relationship with the lag one period of exports, and South Africa's the lag one period of exports and foreign direct investment have a cointegration relationship with the lag one period of CO2 emissions. But whether it is China or South Africa, these three variables have no causal relationship in the long-term. Among the variables of other BRICS countries, Russia is the only country showed degenerate case #1 in McNown et al. mentioned in their paper. When we examined short-term causality, we found that CO2 emissions and export trade showed a reverse causal relationship, while FDI and carbon emissions were not so obvious. Export trade has a positive causal relationship with FDI. Those variables are different from different situations and different countries.

Sign in / Sign up

Export Citation Format

Share Document