scholarly journals Corporate governance and firm performance

Accounting ◽  
2021 ◽  
pp. 13-22 ◽  
Author(s):  
Mulyanto Nugroho
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Stock Return ◽  
Financial Risk ◽  
Manufacturing Companies ◽  
Financial Risk Management ◽  
Audit Opinion ◽  
Going Concern ◽  
Good Corporate Governance ◽  
The Impact

This research discusses and analyzes scientific, macroeconomic, financial risk management, audit views, stock returns, investment decisions, funding decisions, and good corporate governance as a moderator. There are 147 samples of manufacturing companies listed on the Indonesia Stock Exchange. The results of this study indicate that there are four insignificant hypotheses. The results indicate: Macroeconomics does not have a substantial effect on Financial Risk Management, Good corporate governance (GCG) is having no significant impact on Going Concern Audit Opinion. Stock Return is having no significant effect on Going Concern Audit Opinion; GCG does not moderate the impact of Stock Return on Going Concern Audit Opinion when the level of significance is five percent.

scholarly journals ANALYSIS OF INVESTMENT DECISIONS, FUNDING DECISIONS, FINANCIAL RISK MANAGEMENT IMPACTS ON FINANCIAL DISTRESS WITH MODERATION OF GOOD CORPORATE GOVERNANCE IN MANUFACTURING INDUSTRY SECTORS LISTED ON THE INDONESIA STOCK EXCHANGE

2020 ◽  
Vol 4 (2) ◽  
pp. 121-135
Author(s):  
Ulfi Pristiana ◽  
Istiono Istiono
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Distress ◽  
Financial Risk ◽  
Manufacturing Industry ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Manufacturing Companies ◽  
Financial Risk Management ◽  
Good Corporate Governance

Globally, the development of the manufacturing industry can be used as a parameter for national industrial development in a country. Therefore, to keep manufacturing companies continuing or developing, it is necessary to have clear policies in developing this manufacturing industry. Some manufacturing companies did not develop as expected because they experienced Financial Distress (FD). The study population was conducted at several manufacturing companies that experienced financial distress with the study period from 2015-2018. The research sample was determined by non-random sampling (purposive sampling) to determine which companies are included in the Financial Distress category. Of the 163 manufacturing companies listed on the Indonesia Stock Exchange / IDX for the 2015-2018 period, 32 companies were included in the FD category. In this study, Smart PLS software is used to analyze and prove the effect of investment decisions, capital decisions, and financial risk management on financial distress by using good corporate governance / GCG as a moderating variable. The results showed that capital decisions, financial risk management, and good corporate governance had a significant effect on financial distress, except that investment decisions had no significant effect on financial distress. GCG significantly moderates the effects of investment decisions, capital decisions, and financial risk management on financial distress.

scholarly journals Good Corporate Governance sebagai Pemoderasi Pengaruh Financial Distress pada Opini Audit Going Concern

2019 ◽  
Vol 28 (2) ◽  
pp. 1170
Author(s):  
Ketut Memi Wulandari ◽  
Ketut Muliartha
Keyword(s):  
Corporate Governance ◽  
Financial Distress ◽  
Sampling Method ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Audit Opinion ◽  
Going Concern ◽  
Good Corporate Governance ◽  
Analysis Technique ◽  
Study Support

This research uses manufacturing companies listed on the Indonesia Stock Exchange as research’s objects. The number of samples are 210 with using the purposive sampling method. Data collection is done using documentation. The data analysis technique used is Moderated Regression Analysis. Based on the results of the analysis, it was found that the application of good corporate governance to the company is able to weaken the influence of financial distress on the going concern audit opinion. The implications of the results of the study support the signal theory seen in the results of the financial distress which tends to signal the auditor to give a going-concern audit opinion. The results of the study also support agency theory where the tendency for information asymmetry between agents and principals, especially for companies in experience financial distress.Keywords: Financial distress, good corporate governance, going-concern audit opinion.

scholarly journals PARAMETRIZATION OF THE MECHANISM OF FINANCIAL RISK MANAGEMENT IN THE DIGITAL SECURITIES CIRCULATION

2019 ◽  
pp. 77-83
Author(s):  
Oleksandr Volodmyrovych Lutskevych ◽  
Keyword(s):  
Risk Management ◽  
Social Life ◽  
Financial Risk ◽  
State Regulation ◽  
Securities Market ◽  
Financial Risks ◽  
Negative Consequences ◽  
Management Mechanism ◽  
Financial Risk Management ◽  
The Impact

Urgency of the research. Digital technologies are transforming all spheres of social life, and the financial sphere is no exception. In general, such trends cannot but leave an imprint on approaches to managing the financial risk of digital securities. Target setting. Currently, scientific and methodological support for the formation of a mechanism for managing the financial risks of digital securities is in the early stages of development, while the quality of state regulation and supervision of participants in digital securities directly depends on the effectiveness of the current mechanism for managing such risks. Actual scientific researches and issues analysis. Theoretical and applied aspects of the securities market, features of the impact of financial innovations and financial risk management in the field of securities circulation, are researched by V. Bodrov [1], O. M. Kovaleva [2], I. V. Krasnova [3], N. V. Tkachenko [4], Yu. B. Kolupaeva [5] and others. Uninvestigated parts of general matters defining. The methodology of formation the mechanism for managing the financial risks of digital securities needs more precise research. The research objective. Deepening the scientific understanding of the term "financial risk management mechanism for the circulation of digital securities" will ensure to outline ways of increasing the efficiency of this financial instrument usage. The statement of basic materials. This article analyzes the essence of the term "financial risk management mechanism". The construction of the mechanism has been adapted to the specifics of digital securities risk management. Conclusions. The essence of the mechanism of financial risks management of digital securities circulation is improved due to application of a set of methods for identification, quantitative and qualitative analysis, measures to prevent realization and / or reduction of negative consequences of financial risks of digital securities circulation, ways of control over some events.

scholarly journals IMPACT OF GOOD CORPORATE GOVERNANCE TOWARDS CORPORATE VALUE WITH ENTERPRISE RISK MANAGEMENT AS MODERATING VARIABLE (EMPIRICAL STUDY OF FINANCIAL COMPANIES LISTED IN IDX FOR THE PERIOD 2017-2019)

2021 ◽  
Vol 13 (1) ◽  
pp. 74-98
Author(s):  
Lydia Sibarani ◽  
Herlina Lusmeida
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Audit Committee ◽  
Enterprise Risk Management ◽  
Managerial Ownership ◽  
Corporate Value ◽  
Good Corporate Governance ◽  
Enterprise Risk ◽  
Multiple Regression Method ◽  
The Impact

Abstract- This research aims to observe and analyze the impact of Good Corporate Governance towards Corporate Value as well as analyzing whether Enterprise Risk Management is able to moderate its impact. Good Corporate Governance is proxied by the presence of Independent Commissioners, Audit Committee, as well as Managerial Ownership. The population of this research includes all financial companies that publish their annual report in Bursa Efek Indonesia (BEI) over the period of 2017-2019. Data were analyzed using the multiple regression method and the moderated regression analysis. The result of this research found that Independent Commissioners and Audit Committee gives positive and significant impact towards Corporate Value while Managerial Ownership gives negative and insignificant impact towards Corporate Value. Enterprise Risk Management is not able to moderate the impact of Independent Commissioner and Managerial Ownership towards Corporate Value but is able to moderate the impact of the Audit Committee towards Corporate Value. Keywords: Audit Committee; Corporate Value; Corporate Governance; Independent Commissioner; Managerial Ownership

scholarly journals Toolset for financial risk strategic assessment in corporations based on stochastic modeling

2020 ◽  
Vol 9 (28) ◽  
pp. 451-464
Author(s):  
Viktoriya Manuylenko ◽  
Denis Ryzin ◽  
Natalia Gryzunova ◽  
Olga Bigday ◽  
Olga Mandrytsa
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Financial Risk ◽  
Assessment Model ◽  
Financial Risks ◽  
Financial Leverage ◽  
Financial Risk Management ◽  
Environment Factors ◽  
Target Values ◽  
The Impact

The study substantiates the need to develop and test a model for assessment of strategic financial risk level in corporations. It implies modeling for two indicators: relative (financial leverage) and absolute (external capital of indicators). The model should also take into account influence of emergent environment factors and most stakeholder groups’ interests when building scenarios for their behaviors in the financial markets –Implementation of the model allows establishing financial risk target values considering deviation calculations between the indicators’ modeled and actual values simultaneously determining both tactical and strategic guidelines for Financial Risk Management Policy in corporations, which should involve stakeholders into financial risk-taking process. The model implementation also should be the basis for development and improvement of risk-based forecasting tools, business planning and stress testing. The toolkit for assessing level of current and strategic financial risks in corporations based on simulation modeling was developed and implemented with attraction of general scientific and special methods. Direct results of the study are as follows: in theoretical block of the research – essentially, main attributes of financial risks classification for corporations are identified; they are recognized by time as retrospective, current and strategic financial risks, and correct classification of the latter allows their identification, evaluation and regulation; in practical block of the research – evaluation of financial risk in corporations reveals that the risk apart from other internal factors is highly affected by the level of financial leverage, where its high value increases financial risk; still, corporations do not take into account the influence of environmental factors on its level; the role of tax risk as a part of financial risk is not significant, still it is unfortunate that the Russian legislation system allows double taxation on income tax in the form of dividends, and dividend policy of Russian corporations is unstable; in methodological block of the research –financial risk assessment model for corporations was developed and tested on a platform of a special new software product that determines the target level of financial risk; the model differs from standard approaches to financial risk assessment as it carries strategic forecasting nature and takes into account the impact of emergent environment factors; thus it promotes new areas in strategic financial risk management.

scholarly journals Studi good corporate governance dan kinerja saham perusahaan publik pada sektor manufaktur di Indonesia

2019 ◽  
Vol 7 (2) ◽  
Author(s):  
Indhira Putri ◽  
Iramani Iramani
Keyword(s):  
Corporate Governance ◽  
Multiple Regression ◽  
Stock Return ◽  
Foreign Ownership ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Independent Variables ◽  
Good Corporate Governance

This study aimed to examine the effect of Good Corporate Governance on manufacturing companies. The researchers used the boards of the commissioner, managerial ownership, independent commissioner, and foreign ownership as Good Corporate Governance’s proxy on the performance of the stock. The independent variables consist of the boards of the commissioner, managerial ownership, independent commissioner, and foreign ownership. The performance of stock is used by using stock return as measurement and dependent variable. The sample consists of manufacturing companies of the period of 2010-201. The hypothesis was tested by using multiple regression linear. Simultaneously, the boards of commissioners, managerial ownership, independent commissioner, and foreign ownership significantly affect the performance of the stock. Partially, the boards of commissioner negative significantly affect the performance of the stock. In addition, the managerial ownership and independent commissioner do not significantly affect the performance of the stock. Yet, the foreign ownership positively and significantly affects the performance of the stock.

scholarly journals Role of the Pension Protection Fund in financial risk management of UK defined benefit pension sector: a multi-period economic capital study

2014 ◽  
Vol 9 (1) ◽  
pp. 134-166 ◽  
Author(s):  
Wei Yang ◽  
Pradip Tapadar
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Capital Requirements ◽  
Economic Capital ◽  
Defined Benefit ◽  
Policy Makers ◽  
Financial Risk Management ◽  
The United Kingdom ◽  
Pension Schemes ◽  
The Impact

AbstractWith the advent of formal regulatory requirements for rigorous risk-based, or economic, capital quantification for the financial risk management of banking and insurance sectors, regulators and policy-makers are turning their attention to the pension sector, the other integral player in the financial markets. In this paper, we analyse the impact of applying economic capital techniques to defined benefit pension schemes in the United Kingdom. We propose two alternative economic capital quantification approaches, first, for individual defined benefit pension schemes on a stand-alone basis and then for the pension sector as a whole by quantifying economic capital of the UK’s Pension Protection Fund, which takes over eligible schemes with deficit, in the event of sponsor insolvency. We find that economic capital requirements for individual schemes are significantly high. However, we show that sharing risks through the Pension Protection Fund reduces the aggregate economic capital requirement of the entire sector.

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