Entering a medical clinic on the stock exchange: reflection in accounting and reporting

2021 ◽  
pp. 15-33
Author(s):  
L.V. Sotnikova
Keyword(s):  
Stock Exchange ◽  
Balance Sheet ◽  
Capital Flow ◽  
Medical Clinic ◽  
Effective Management ◽  
Fair Price ◽  
Medical Organization ◽  
Foreign Experience ◽  
Private Medicine

Medicine in modern Russia is as profitable business as any other. Of course, we are talking about private medicine. Therefore, medical organizations need to be able to plan their income and expenses, as well as be able to manage them. Many Russian private medical organizations adopt foreign experience, transferring to the “medical soil” the idea of “effective management”, which consists in the ability to increase revenues, reduce costs, and generate such a volume of profit that suits the shareholders. According to the market law of capital flow, shareholders who own shares of companies in one industry sell these shares (at the time when this can be done with the maximum possible profit) and acquire shares of companies in another industry that are more attractive for investors. It is possible to sell shares “from hand to hand” — from the previous owner to a new one, but the transaction in this case is carried out at a negotiated price that will not meet the criteria of the so-called fair price. A completely different matter is the sale of shares on an exchange, an observable (transparent) market. The transaction is reflected in the accounting and reporting, the only question is whether the profit from the transaction is reflected on the balance sheet of the medical organization in respect of the shares of which the transaction is being made.

Impact of corporate governance on financial performance of sugar sector firms listed in Pakistan stock exchange

2019 ◽  
Vol 12 (2) ◽  
Author(s):  
Muhammad Wasim Jan Khan ◽  
Usman Saeed
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Financial Performance ◽  
Firm Size ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Board Size ◽  
Return On Equity ◽  
Firm Financial Performance ◽  
Relationship Of

Corporate governance is considered as environment of trust, set of processes, policies and laws affecting the way corporations are administrated and directed. The previous literature in context of the corporate governance relationship with firm financial performance shows controversial findings; similarly literature shows lack of studies in context of developing countries as Pakistan. Therefore, this research explores the relationship of the corporate governance and the firm financial performance in context of developing country as Pakistan. The data has been collected from the sugar sector listed in KSE (Pakistan Stock Exchange), 20 corporations are selected as sample from sugar sector on basis of outstanding shares. Corporate governance taken as independent variable and measured as CEO biformity (CB), board size (BS), firm age (FA), firm size (FS). Financial performance of firms taken as dependent variable and measured as return on asset (ROA), return on equity (ROE), net profit margin (NPM). Data is collected for period of 2000-2013 from reports of the sugar companies listed in KSE (Pakistan Stock Exchange) issued annually and analysis of balance sheet given by State Bank of Pakistan (SBP). Result shows that CEO biformity significantly affecting firm financial performance. Board size (BS) shows partially significant impact on firm financial performance. Firms age (FA) show partially significant impact on firm financial performance. Firm size (FS) shows partially significant impact on firm financial performance. Therefore, conclusion has been drawn based on the results of analysis that this study adds new knowledge to the existing body of knowledge of corporate governance impact on firm financial performance and in context of developing countries as Pakistan. Keywords: Corporate governance, firm financial performance, sugar sector, Pakistan.

scholarly journals Pengaruh Sales Growth dan Keahlian Keuangan Komite Audit terhadap FinancialDistress.(Studi Empiris Pada Perusahaan Manufaktur Sub Sektor Otomotif dan Komponen yang Terdaftar di Bursa Efek IndonesiaPeriode 2012-2016)

2019 ◽  
Vol 21 (2) ◽  
Author(s):  
Nurhayati Nurhayati
Keyword(s):  
Financial Distress ◽  
Research Method ◽  
Audit Committee ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Linear Regression Method ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Financial Expertise ◽  
Negative Effect

Abstract. This study aims to determine the effect of sales growth and financial expertise of audit committee to financial distress. The research method used is descriptive research method with quantitative approach. Analyzer used in this research is multiple regression analysis by using sample of research as many as 9 manufacturing companies of the automotive and component sub-sector listed on The Indonesia Stock Exchange in 2012-2016. Hypothesis testing is done by multiple linear regression method using SPSS version 17. The result showed that the sales growth variable has no significant negative effect to financial distress, and financial expertise of audit committee has negative and significant effect to financial distress. The result of this study can be recommendation for investor to be able to analyse the company’s financial statements related to the decision to invest. Recommendation for the next researchers to be able to research all of manufacturing companies listed on Indonesia Stock Exchange and used other indicator of financial ratios contained in balance sheet, income statements, and cash flow statements.Keywords: Financial Distress, Audit Committee Financial Expertise, Sales Growth.

scholarly journals IMPACT OF THE FOREIGN EXPERIENCE OF BOARD DIRECTORS ON THE PERFORMANCE OF PUBLICLY TRADED BRAZILIAN COMPANIES

2021 ◽  
Vol 22 (3) ◽  
Author(s):  
VAGNER N. MACHADO ◽  
IGOR B. SONZA
Keyword(s):  
Stock Exchange ◽  
Generalized Method Of Moments ◽  
Market Performance ◽  
Legal Protection ◽  
Local Environment ◽  
Cultural Barriers ◽  
Local Power ◽  
Foreign Experience ◽  
Board Directors ◽  
The Impact

ABSTRACT Purpose: We analyzed the impact of board directors with foreign experience on the accounting and market performance of companies listed on the Brazilian Stock Exchange (B3). Originality/value: We show unpublished empirical evidence about the relationship between the foreign experience of board directors and the performance of Brazilian firms. Knowing this relationship better contributes to the formulation of internal policies for the qualification of senior management, in addition to being valuable to shareholders, especially in a context of weak legal protection, as it is in Brazil. Design/methodology/approach: We collected data from 230 companies between 2010 and 2016, submitted it to unbalanced panel data regressions using the Systemic Generalized Method of Moments (GMM-Sys). Findings: The results suggest that the higher the proportion of board members with academic and professional foreign experience, the lower their accounting and market performance. This finding can be justified by institutional isomorphism, in which having an experience abroad would be a myth, a status institutionalized by the Brazilian society. In addition, foreign owners and directors face cultural barriers and would have less knowledge of the local environment, which would increase information asymmetries, impacting negatively in firms’ performance. On the other hand, an increase in the number of foreigners on the board positively influences the market value of companies, since, by having weaker local power networks and, consequently, less possibility to obtain private benefits, the investors could value companies with this characteristic.

Applying asset-and equity-based multipliers in the valuation of oil and gas corporations

2021 ◽  
Vol 27 (1) ◽  
pp. 129-167
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Oil And Gas Industry ◽  
Comparative Approach ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Market Capitalization ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the ratios of the company's market capitalization and value to the balance sheet value of assets and equity of the twenty five leading public oil and gas companies between 2008 and 2018. Objectives. The article aims to identify key trends in the changes in market capitalization and value ratios of the company to the balance sheet value of assets and equity of the largest public oil and gas companies, identify the factors that have caused these changes, and establish the applicability of these multipliers to estimate the value of the business within the oil and gas industry. Methods. For the study, I used comparative, and financial and economic analyses, and generalization of materials of the companies' consolidated financial statements. Results. The article establishes that the multipliers studied are acceptable for assessing the value of oil and gas companies, but it is preferable to use asset-based ratios. Conclusions and Relevance. The overall decline in profitability and the increase in debt load in the stock exchange sector of the global oil and gas industry should be taken into account when using multipliers based on assets and shareholder capital in the assessment of the value of oil and gas corporations through a comparative approach. The results of the study can be used to assess the possible value of oil and gas assets as part of a comparative approach and develop measures to increase the market capitalization of public oil and gas companies.

scholarly journals A Study of Black–Scholes Model’s Applicability in Indian Capital Markets

Paradigm ◽  
2020 ◽  
Vol 24 (1) ◽  
pp. 73-92
Author(s):  
Anubha Srivastava ◽  
Manjula Shastri
Keyword(s):  
Stock Market ◽  
Option Pricing ◽  
Trading Volume ◽  
Stock Exchange ◽  
Market Price ◽  
Significant Degree ◽  
Pricing Model ◽  
Fair Price ◽  
Black Scholes ◽  
Indian Stock Market

Derivative trading, started in mid-2000, has become an integral and significant part of Indian stock market. The tremendous increase in trading volume in Indian stock market has reflected into high volatility in the option prices. The pricing of options is very complex aspect of applied finance and has been subject of extensive research. Black–Scholes option model is a scientific pricing model which is applied for determining the fair price for option contracts. This article examines if Black–Scholes option pricing model (BSOPM) is a good indicator of option pricing in Indian context. The literature review highlights that various studies have been conducted on BSOPM in various stock exchange across the world with mixed outcome on its relevance and applicability. This article is an empirical study to test the relevance of BSOPM for which 10 most popular industry’s stock listed on National Stock Exchange have been taken. Then the BSOPM has been applied using volatility and risk-free rate. Furthermore, t-test has been used to test the hypothesis and determine the significant relationship between BS model values and actual model values. This study concludes that BSOPM involves significant degree of mispricing. Hence, this model alone cannot be adopted as an indicator for option pricing. The variation from market price is synchronised with respect to moneyness and time to maturity of the option.

scholarly journals An Analysis of the Level of Qualitative Efficiency for the Equity Research Reports in the Italian Financial Market

2018 ◽  
Vol 9 (2) ◽  
pp. 21
Author(s):  
Paola Fandella
Keyword(s):  
Stock Exchange ◽  
Listed Companies ◽  
Structural Features ◽  
Stock Index ◽  
Research System ◽  
Fair Price ◽  
Potential Growth ◽  
Italian Market ◽  
Equity Research ◽  
Level Information

Corporate reports issued by various financial intermediaries play a major role in investment decisions. For this reason, it is particularly interesting to understand the accuracy of the forecasts, by carrying out an empirical analysis of the "equity research" system in Italy, identifying structural features, degree of reliability and incidence in the market. The choice of the analysis of the efficiency level information on the Italian market proposes to assess the interest of equity research of a niche market (339 listed companies in 2017) but with characteristics of potential growth such as having been acquired by LSEGroup in 2007, the 6th stock-exchange group at international level for the number of listed companies and the 4th for capitalization.The analysis was carried out on the reports issued on companies belonging to the Ftse Mib stock index during a period of 5 years.It aims to analyse the composition of the equity research system in Italy as well as the analysts' ability to properly evaluate the stocks' fair price, so as to test their degree of reliability and detect possible anomalies in recommendations to the investors.

scholarly journals IPTEKS PROSEDUR PENGHAPUSAN BMN OLEH KPKNL MANADO

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Andrew Malahasa Karambut ◽  
Reinaldi Lasewa ◽  
Hendrik Gamaliel
Keyword(s):  
Balance Sheet ◽  
State Ownership ◽  
Effective Management ◽  
Total State ◽  
Necessary Existence ◽  
Accountability Management ◽  
Property Destruction ◽  
Deletion State

In order manifest procedure deletion State wealth , accountability management Goods State property , destruction State wealth , and deletion State wealth , necessary existence the implementation of an efficient, if efekt and take responsibility answer in Goods State Property. total State assets which are in condition broken will to be problem in BMN management but should reported on report Goods State- owned or Balance sheet . On party the user goods required take responsibility answer in take care of and make use of Goods State- owned with the best that includes   age economical , period benefits , shrinkage and supervision should always in report every the period to party always manager goods namely KPKNL Manado. Value The presented in balance is asset still . By because that , necessary there is effective management on Goods State property to produce balance sheet that can reliable with facts that occur in the field. Elimination Goods State Ownership is the last process in management Goods State- owned.Keywords : Procedures, State Property, Deletion

scholarly journals Spanish companies’ website communication of environmental, social, and governance information

2021 ◽  
Vol 34 (4) ◽  
pp. 117-133
Author(s):  
Herenia Gutiérrez-Ponce ◽  
Julián Chamizo-González ◽  
Núria Arimany-Serrat
Keyword(s):  
Stock Exchange ◽  
Balance Sheet ◽  
Regulatory Compliance ◽  
Financial Information ◽  
Financial Reports ◽  
Heterogeneous Information ◽  
Agenda 2030 ◽  
Study Results ◽  
Inferential Analysis ◽  
Analysis System

This study’s goal is to analyze the website communication of environmental, social, and governance –Environmental Social Governance (ESG)– information by companies on the Madrid Stock Exchange. The empirical descriptive and inferential analysis determines IBEX35 companies’ regulatory compliance in disclosure of non-financial information through examination of their website disclosure of ESG information. Economic-financial information from the Iberian Balance Sheet Analysis System (Sistema de Análisis de Balances Ibéricos (SABI)) database was also used to investigate whether the firms that communicate this information better are also more economically efficient. The study results reveal that IBEX35 companies’ website disclosure provides heterogeneous information that is difficult to access and that they need to improve website transparency by communicating sound, sustainable non-financial reports. Further, a significant correlation was found between the companies that disclose the most ESG information and those that have the highest economic profitability –that is, those that are best adapted to the Spanish legal system and compatible with the challenges established by the UN’s Agenda 2030.

scholarly journals Linking of Financial Data with Non-Financial Information on CSR of Companies Listed on the Stock Exchange in Poland – Polish Case Study

2021 ◽  
Author(s):  
Małgorzata Anna Węgrzyńska
Keyword(s):  
Business Performance ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Financial Statements ◽  
Panel Regression ◽  
Parts Of Speech ◽  
Warsaw Stock Exchange ◽  
Modern Business ◽  
Business Entities

Reporting on CSR activities has become the essence of reporting for modern business entities. In this regard, particular attention is paid to public interest companies. Therefore, the following paper aims to answer the question of whether there are differences in the linguistic structure of the studied CSR reports in three selected industry indices on the Warsaw Stock Exchange (WSE) in Poland, i.e. WIG-energy index, WIG-fuel index, WIG-mining index and their relationship with the performance of selected companies. The study was conducted on a purposely selected sample of companies between 2013 and 2018. A total of 138 CSR reports and 138 annual separate financial statements prepared in accordance with international balance sheet law were collected. The study was carried out based on a panel regression model. It was found that CSR reports contained similar average percentages of parts of speech such as nouns and adjectives. When linking the economic performance of companies, expressed with selected indices, to the information on the implementation of CSR concepts, it was revealed that the results are more likely to describe business performance when it is satisfactory.

scholarly journals 61 Pengaruh Dana Pihak Ketiga (DPK) dan Biaya Operasional Pendapatan Operasional (BOPO) terhadap Return On Asset (ROA) (Studi Kasus Pada Bank Umum Swasta Nasional Devisa yang Terdaftar di BEI)

2017 ◽  
Vol 7 (1) ◽  
Author(s):  
Wati Aris Astuti
Keyword(s):  
Commercial Banks ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Third Party ◽  
Test Statistic ◽  
Operating Income ◽  
The Third ◽  
Income Statement ◽  
Verification Methods ◽  
The Third Party

This study aims to determine the development of the Third Party Funds, thedevelopment of Operating Expenses to Operating Income and the development ofReturn on Assets, as well as to determine whether the Third Party Funds significantlyinfluence whether the Return on Assets and Operating Expenses Operating Incomesignificantly affects the Return On Asset. The population used in this study is theForeign Exchange Commercial Banks listed in Indonesia Stock Exchange. The sampleused is the annual financial statement of the balance sheet and income statement ofthe 6 banks 2008-2013. The sample using purposive sampling method. The method used in thisresearch is descriptive and verification methods. The test statistic used is multiplelinear regression analysis, hypothesis testing with the help of application program IBMSPSS 20.0.The results showed that the Third Party Funds significantly influence the Returnon Assets and Operating Expenses to Operating Income significantly influence theReturn on Assets at the Foreign Exchange Commercial Banks listed in Indonesia StockExchange.

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