scholarly journals Competitiveness Assessment of the Fats and Oils Sector in Colombia in 2019: Analysis Based on Financial Indicators

2021 ◽  
Vol 18 ◽  
pp. 1533-1544
Author(s):  
Oscar Ivan Vasquez-Rivera ◽  
Carmen Alicia Diaz-Grajales
Keyword(s):  
Technical Efficiency ◽  
Role Models ◽  
Peer Group ◽  
Fats And Oils ◽  
Business Success ◽  
Data Envelopment ◽  
Financial Indicators ◽  
Return On Assets ◽  
Return On Equity ◽  
Operating Margin

This study assesses the competitiveness of the fats and oils sector in Colombia in 2019 using a peer group approach. The analysis is applied to 13 companies in the sector classified as individual small- and medium-sized enterprises. The main findings were developed considering the reports of the Superintendence of Companies in 2020. The methodology used is a competitiveness analysis supported by financial indicators and the data envelopment analysis under the Charnes, Cooper & Rhones -CCR- model, considering the value of assets and revenues as input and profitability indexes (operating margin, return on assets, and return on equity) as output. The companies that are efficient and should be role models were identified. The main findings were the low attractiveness of the sector with 0.253 (it should be greater than 1 and grow over time), the business success level according to which a company located in the Department of Casanare is the leader, and the relationship between the variables that reflects an average technical efficiency of 0.7162 (on a scale of 0 to 1). Of all the companies, three are referents for the achievement of technical efficiency owing to the best use of the model input resources

scholarly journals Does CSR Influence Firm Performance Indicators? Evidence from Chinese Pharmaceutical Enterprises

2019 ◽  
Vol 11 (20) ◽  
pp. 5656 ◽  
Author(s):  
Minghui Yang ◽  
Paulo Bento ◽  
Ahsan Akbar
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Financial Indicators ◽  
Social Dimensions ◽  
Return On Assets ◽  
Environmental Aspect ◽  
Return On Equity ◽  
Earnings Per Share ◽  
Corporate Social ◽  
The Impact

This research is carried out in the backdrop of increasing product quality and environmental degradation scandals associated with Chinese Pharmaceuticals in recent years. We examined the data of 125 Chinese Pharmaceuticals between 2010–2016 to investigate the impact of overall corporate social responsibility (CSR) performance as well as the performance on five unique aspects of CSR such as shareholders, employees, customers and suppliers, environmental practices, and the society to gauge the impact of these individual dimensions on the firm’s financial performance. The Hexun rating system is used to gauge a firm’s CSR performance on various stakeholder dimensions as it is one of the widely accepted CSR measurement criteria in China. The firm performance is measured by Tobin’s Q, return on assets (ROA), return on equity (ROE), and earnings per share (EPS) ratios. The outcome of the panel-based regression models reveals that the overall CSR score has a positive and significant influence on a firm’s financial indicators. Moreover, although all the CSR dimensions relate positively to firm performance, the environmental aspect of CSR has the most profound impact on firm performance followed by customers and suppliers, and employees. However, the shareholders and social dimensions have a relatively lesser influence on firm performance. These results imply that Chinese Pharmaceuticals shall further optimize each aspect of CSR performance as it can not only create a favorable brand image for various stakeholders but also results in sustainable financial performance.

scholarly journals Analisa Rasio Keuangan untuk Memprediksi Perubahan Laba pada Perusahaan Telekomunikasi Indonesia

2011 ◽  
Vol 2 (2) ◽  
pp. 883
Author(s):  
Engelwati Gani ◽  
Almitra Indira
Keyword(s):  
Stock Exchange ◽  
Profit Margin ◽  
Total Asset ◽  
Return On Assets ◽  
Current Ratio ◽  
Return On Equity ◽  
Operating Margin ◽  
Net Profit ◽  
Turn Over ◽  
Telecommunications Companies

This study was conducted to test the variable Current Ratio (CR), Net Profit Margin (NPM), Operating Margin Ratio (OMR), Return On Equity (ROE), Return on Assets (ROA) and Total Asset Turn Over (tattoo) to changing profit. Data obtained by the method of purposive sampling criteria (1) Telecommunications Companies listed on the Indonesia Stock Exchange (IDX) and consistently throughout the study period (2003 to 2010) and Telecommunication Company that provides the data of financial statements during the study period (2003 to 2010). The analysis showed that the data used in this study have been normally distributed and satisfy the classical assumptions, which include: there is no autocorrelation, no symptoms of multicollinearity, and no symptoms hetereskedasitas. From the results of regression analysis showed that the variables Net Profit Margin (NPM) and Operating Margin Ratio (OMR) partially significant effect on change in earnings. While the variable Current Ratio (CR), Return on Equity (ROE), Return on Assets (ROA) and Total Asset Turn Over (TATTOO) no significant effect on changes in earnings. The six variables used in the study jointly affect changes in earnings. Predictive capability of the six variables simultaneously is equal to 36.4%. 

scholarly journals Assessing impact of determinants on enterprise value in producing and processing industries

2021 ◽  
Vol 2021 (3) ◽  
pp. 117-124
Author(s):  
Tatyana Vladimirovna Kotova ◽  
Elena Vladimirovna Chernikina ◽  
Yulia Aleksandrovna Gladysheva
Keyword(s):  
Financial Indicators ◽  
Return On Assets ◽  
Return On Equity ◽  
Enterprise Value ◽  
Earnings Per Share ◽  
Fixed Assets ◽  
State Participation ◽  
Industry Affiliation ◽  
Relationship Of ◽  
The Relationship

The article is devoted to studying the evaluation of the determinant factors of the value of state-owned companies, which present the competitive and investment-attractive segment of the economy with high export potential. There are considered the applied aspects of the problem and the influence of financial and non-financial factors on the value of companies, such as: return on assets, return on equity, return on invested capital, leverage, earnings per share, dividends per share, company size, company age, share of fixed assets. The research hypothesis that the selected determinants are significant and affect the value of companies with state participation are examined. The analysis is based on data from public reports of Russian producing and processing companies. The sample includes the data for 2010-2019. Companies with state participation and industry affiliation were selected; a database of indicators of financial statements of selected companies was formed; the financial indicators-factors have been calculated; the relationship of factors with the resulting indicator is determined. It has been inferred that the determinants “earnings per share” and “net working capital” are statistically significant and have an impact on the enterprise value in the industry under study

scholarly journals The Effect of the Global Financial Crisis on the Profitability of Islamic Banks in UAE

2019 ◽  
Vol 11 (1) ◽  
pp. 181
Author(s):  
Mukdad Ibrahim
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Islamic Banks ◽  
Financial Indicators ◽  
Anova Analysis ◽  
Return On Assets ◽  
Return On Equity ◽  
Adverse Conditions ◽  
Equality Of Means ◽  
The Global Financial Crisis

This paper empirically analyzes the profitability of the four Islamic banks operating in the UAE during the financial period between 2004 and 2009 using three profitability indicators, return on total income, return on assets and return on equity. The researcher uses a variety of techniques, equality of means, coefficient of variation and Anova analysis to assess the effect of the financial crisis on the performance of the four specified banks. The findings show that although the financial crisis began in the 3rd quarter of 2007, its impact on the profitability of Islamic banks was most profound in 2008 and 2009 where there was a notable decline in all analyzed financial indicators. Moreover, the three indicators held a higher variability rate during the crisis years spanning 2008 to 2009 in stark contrast with the pre-crisis rates of the period spanning 2004 to 2007. Anova analysis across the four banks show significant differences between the mean of most indicators, suggesting varying performance under the adverse conditions present during the recession.

scholarly journals Family and non-family business behaviour in the wine sector: A comparative study

2017 ◽  
Vol 7 (1-2) ◽  
Author(s):  
Ismael P. Soler ◽  
German Gemar ◽  
Rafael Guerrero-Murillo
Keyword(s):  
Family Business ◽  
Family Businesses ◽  
Risk Exposure ◽  
Debt Ratio ◽  
Return On Assets ◽  
Return On Equity ◽  
Operating Margin ◽  
Wine Sector ◽  
Key Variables

The purpose of this study is to explore the main differences in key variables of winemaking companies in view of their consideration as a family business in Spain. Using a database of 520 wineries with the main variables used in the literature, this paper analyses the differences between being a family or a non-family winery on the performance, size and structure of debt. The companies were classified as family or non-family then a means test was performed for all key variables between both groups. This study suggests that there are significant differences between family and non-family businesses in the return on assets (ROA) and in the operating margin, which are higher in the case of companies classified as family businesses and in the relative debt and debt ratio, which are higher in companies considered to be non-family. The remaining variables are statistically equal. Better margins in family companies could be due to advantages in the prices derived from the products or brands offered or lower agency costs that may lead to an improvement in management costs, which explains such differences. In addition, the lower risk exposure that would lead family businesses to opt for less risky leverage formulas that would lead to increased long-term financing could explain why these advantages are not reflected in the return on equity (ROE).

scholarly journals Pengaruh Biaya, Produktivitas Aktiva dan Struktur Modal dalam Meningkatkan Profitabilitas Perusahaan

2010 ◽  
Vol 1 (2) ◽  
pp. 496
Author(s):  
Muhammad Yusuf
Keyword(s):  
Capital Structure ◽  
Positive Outcome ◽  
Total Asset ◽  
Working Capital ◽  
Return On Assets ◽  
Return On Equity ◽  
Negative Results ◽  
Operating Margin ◽  
Asset Turnover ◽  
Operating Leverage

This study examined the effect of cost, productivity of assets and capital structure of an automotive company's profitability. This study focuses on the productivity of assets which include factors such as operating leverage, sales, inventory turnover, net working capital, liquidity, receivable collection, fixed asset ratio, and total asset turnover. Capital Structure includes the degree of financial leverage. Profitability factor in this study includes operating margin, return on assets and return on equity. Sample used are 45 automotive industry companies who have registered and still active until December 31, 2009. The statistical methods used in this research are classical assumption test, f test and t test. This study indicates that inventory turns, liquidity, receivable collections and, the ratio of fixed assets have a negative outcome to the total asset turnover, while net working capital has a positive outcome. Operating margin and total asset turnover both have positive values that have an impact on return on assets. Capital structure and degree of operating leverage both have negative results on the turnover of capital, while return on assets have positive results. 

scholarly journals The efficiency of Jordan insurance companies and its determinants using DEA, slacks, and logit models

2019 ◽  
Vol 26 (1) ◽  
pp. 153-166 ◽  
Author(s):  
Mutasem Mahmoud Jaloudi
Keyword(s):  
Technical Efficiency ◽  
Design Methodology ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Logit Models ◽  
Resource Base ◽  
Return On Assets ◽  
Content Type ◽  
Insurance Law ◽  
Type Size

Purpose The purpose of this paper is to evaluate the technical efficiency in the Jordan insurance market and examine the internal and external determinants that appear to affect the technical efficiency of the insurance companies. Design/methodology/approach The study used panel data for 22 insurance companies operating inside Jordan over the period 2000–2016. The author used the data envelopment analysis to evaluate the technical efficiency scores, slacks-based and logit models to examine the efficiency determinants. Findings The study found that there is a slight development of technical efficiency for the Jordanian insurance companies during the study period. In addition, there is a substantial efficiency difference among insurance companies each year, and there is a variation at the level of efficiency for each company in each year. The results also showed that owners’ equities are among the most important internal determinants of companies’ efficiency, and there is a significant correlation between type, size and return on assets of the insurer and its efficiency. Originality/value This study provides insurance management with relevant indicators that would guide them to make efficient use of the resource base. The period of study also covers the period following the adoption of the insurance law and the issuance of most of the legislation related to the work of insurance companies.

scholarly journals The relative importance of financial ratios in creating shareholders’ wealth

2012 ◽  
Vol 15 (4) ◽  
pp. 416-428 ◽  
Author(s):  
Merwe Oberholzer
Keyword(s):  
Technical Efficiency ◽  
Significant Relationship ◽  
Market Value ◽  
Relative Importance ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Cross Sectional ◽  
Return On Equity ◽  
Scarce Resources ◽  
Sectional Analysis

The purpose of the study is firstly to use Data Envelopment Analysis (DEA) to aggregate the overall performance (technical efficiency) of firms to convert scarce resources into outputs that create wealth for shareholders, and secondly, to determine the degree to which this mentioned performance is reflected in a number of profitability and market value ratios. Annual financial statement data were used for 55 manufacturing companies listed on the JSE Limited over a five-year period in a cross-sectional analysis. The study found that return on equity has the most significant relationship with technical efficiency, followed by return on assets. The market value ratios price/earnings and dividend yield have no significant relationship with technical efficiency. The value of this study is that it is the first of its kind where technical efficiency, which aggregated operating, profitability and marketability efficiencies, is used to determine the relative importance of not only the readily available profitability ratios, but also market value ratios.

scholarly journals Gestão do ciclo financeiro, rentabilidade e restrições financeiras

2019 ◽  
Vol 17 (4) ◽  
pp. 77
Author(s):  
Rodrigo Zeidan ◽  
Christiano Vanzin
Keyword(s):  
Cost Of Debt ◽  
Return On Assets ◽  
Return On Equity ◽  
Revenue Growth ◽  
Cash Conversion Cycle ◽  
Operating Margin ◽  
Generalized Methods Of Moments ◽  
Methods Of Moments ◽  
The Relationship ◽  
Privately Owned

<p>We investigate the relationship between cash conversion cycle (CCC) management and value creation. We extend a standard working capital management model to establish measurable hypotheses for privately owned companies in Brazil. We define hypotheses that relate profitability measures, such as return on assets (ROA) and return on equity (ROE), and the cash conversion cycle of a panel data sample of 318 Brazilian companies with available data for at least 8 of 9 fiscal years between 2009 and 2017. We estimate these relationships via generalized methods of moments (GMM) to deal with endogeneity among accounting variables. Evidence indicates that lower C2C improves ROA but not ROE. Additional assumptions included: (1) companies with a negative CCC tend to grow faster; (2) more indebted companies manage their cash-flow better; (3) smaller companies have a longer CCC; and (4) companies with longer CCC have higher operating margin. Evidence is that only ROA is related to cost of debt, and that total debt is the only variable that helps explain revenue growth (which probably captures firm size as well). Still, without the ability to issue more debt, companies are restricted in growing sales. Finally, and unexpectedly, we find that lower CCC indicates higher operating margin.</p>

scholarly journals RISIKO KEUANGAN DAN TINGKAT KESEHATAN KEUANGAN BANK DENGAN SIZE, INFLASI, DAN GDP SEBAGAI VARIABEL KONTROL PADA PERBANKAN SYARIAH DI INDONESIA

2017 ◽  
Vol 3 (01) ◽  
pp. 27
Author(s):  
Yuwita Ariessa Pravasanti
Keyword(s):  
Financial Risk ◽  
Panel Data Analysis ◽  
Control Variable ◽  
Operational Risk ◽  
Islamic Banking ◽  
Financial Risks ◽  
Return On Assets ◽  
Return On Equity ◽  
Operating Margin ◽  
Financial Soundness

This study aims to analyze the financial risk and health financial level of banks on Islamic banking in Indonesia. This study aims to get empirical evidence about the possibility of relationship and influence of financial risks (liquidity risk (Financing to Deposit Ratio), financing risks (Non Performing  Financing)  and  operational  risk  (RWA  for  operational  risk)  and  the  financial soundness of banks (Net Operating margin, Return on Assets and Return on Equity) with the size of bank, inflation and Gross Domestic Product (GDP) as a control variable in islamic banking in Indonesia. This study used panel data analysis and used 9 islamic bank with 5 years in a period, from 2010 to 2014 so the sample used in this study were 45 data. The data were processed using Microsoft Excel and Eviews software version 8.The results showed that simultaneously financial risk not significant effect on NOM, but significant effect on ROA and ROE. Partially NPF variables only significantly influence on NOM, FDR and NPF variable significant effect on ROA, and FDR variable significant effect on ROE. The control variables used in this study had no effect on health financial level.

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