scholarly journals The Effect of SFAS No. 131 on the Diversification Discount

2015 ◽  
Vol 7 (2) ◽  
pp. 58
Author(s):  
Seoungpil Ahn
Keyword(s):  
Firm Value ◽  
Investment Efficiency ◽  
Diversification Discount ◽  
Segment Reporting ◽  
Precise Estimation ◽  
Rule Change ◽  
Before And After ◽  
Excess Value ◽  
Diversified Firms ◽  
The Impact

<p>For a sample of diversified firms, I investigate the impact of the segment reporting rule change from SFAS No. 14 to SFAS No. 131 in 1997. This change in segment-reporting rules to SFAS No. 131 potentially allows more precise estimation of diversification discount. I probe the changes in the diversification discount before and after the reporting rule change in 1997. I find that there is a substantial increase in the diversification discount under SFAS No. 131. Further analysis indicates that the changes in the diversification discount are unrelated to the changes in firm value or investment efficiency. Instead, the measures of diversity appear to be more associated with the changes in excess value. This indicates that excess value is not a clean measure of diversification discount.</p>

scholarly journals Catastrophic High School and Collegiate Cheerleading Injuries in the United States: An Examination of the 2006-2007 Basket Toss Rule Change

2018 ◽  
Vol 11 (1) ◽  
pp. 32-39 ◽  
Author(s):  
Rebecca K. Yau ◽  
Savannah G. Dennis ◽  
Barry P. Boden ◽  
Robert C. Cantu ◽  
James A. Lord ◽  
...  
Keyword(s):  
United States ◽  
High School ◽  
Case Series ◽  
Injury Rate ◽  
The United States ◽  
Level Of Evidence ◽  
Injury Rates ◽  
Rule Change ◽  
Before And After ◽  
The Impact

Background: Cheerleading is a specialized athletic activity that can lead to catastrophic injuries. Cheerleading rules are in place to maximize safety of participants. The purpose of this study was to describe catastrophic cheerleading injuries among high school and collegiate-level participants in the United States and to explore whether the 2006-2007 basket toss rule change was effective at reducing the number of catastrophic injuries. Hypothesis: The 2006-2007 basket toss rule change contributed to a reduction in the number of catastrophic injuries among high school and collegiate cheerleaders. Study Design: Case series. Level of Evidence: Level 4. Methods: Data on catastrophic cheerleading injuries were collected by the National Center for Catastrophic Sport Injury Research from July 2002 to June 2017. Information collected included cheerleader, event, and injury characteristics. The impact of the 2006-2007 rule change banning the basket toss on any hard surfaces was assessed by comparing injury rates and 95% CIs before and after the rule change. Results: There were 54 catastrophic cheerleading injuries, or 3.6 injuries per year. From July 2002 through June 2017, the injury rate was 2.12 per 1,000,000 cheerleaders (95% CI, 1.56-2.69). Most cheerleaders sustained serious injuries (n = 27; 50%) during practice (n = 37; 69%) to the head (n = 28; 52%) and cervical spine (n = 17; 32%). From July 2002 through June 2017, basket tosses were the stunt that accounted for the highest proportion of injuries (n = 19; 35%). The basket toss injury rate decreased from 1.55 to 0.40 per 1,000,000 cheerleaders among both high school and collegiate cheerleaders after the rule change. Conclusion: Catastrophic injury rates in cheerleading decreased dramatically after the 2006-2007 rule change banning basket tosses from being performed on any hard surfaces. In particular, there was a nearly 4-fold reduction in the rate of catastrophic basket toss injuries.

Corporate diversification and firm value: evidence from emerging markets

2015 ◽  
Vol 10 (3) ◽  
pp. 294-310 ◽  
Author(s):  
Elif Akben Selçuk
Keyword(s):  
Emerging Markets ◽  
Firm Value ◽  
Fixed Effects ◽  
Generalized Method Of Moments ◽  
Corporate Diversification ◽  
Fixed Effects Model ◽  
Developed Country ◽  
Content Type ◽  
Diversified Firms ◽  
The Impact

Purpose – The purpose of this paper is to investigate the impact of corporate diversification on firm value in a sample of nine emerging markets including Brazil, Chile, Indonesia, Malaysia, Philippines, Poland, South Africa, Thailand, and Turkey. For the purpose of this study, a company is classified as diversified when it is operating in two or more lines of business defined by the two-digit SIC codes. Design/methodology/approach – Employing panel data from 1,568 companies for the period 2005-2010, this paper estimates both a fixed effects model and a dynamic generalized method of moments model. Data are collected both at company level and segment level within each firm. Findings – Overall, analysis results suggest that, for the period from 2005 to 2010, diversified firms in emerging markets are valued more compared to single-segment firms operating in similar industries, providing support for diversification premium. Originality/value – The effect of diversification on company value in emerging markets is an important managerial and public policy concern. Although the literature on developed country diversified firms is rich, only a few studies have examined diversification-value relationship in the context of developing countries. Furthermore, most previous research on the value effects of corporate diversification in emerging markets has taken the form of case studies within countries and concentrated on the 1990s. This paper tries to fill these gaps by using a larger sample and more recent data and methodology.

scholarly journals Brand and Firm Value: Evidence from Arab Emerging Markets

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 5 ◽  
Author(s):  
Musaab Mousa ◽  
Judit Sági ◽  
Zoltán Zéman
Keyword(s):  
Firm Value ◽  
Agency Costs ◽  
Emerging Market ◽  
Investment Efficiency ◽  
Valuation Model ◽  
Good Corporate Governance ◽  
Marketing Application ◽  
Panel Data Regression ◽  
Informative Content ◽  
The Impact

This study aims to estimate the impact of brand as the most important intangible marketing asset on firm value, measured by share return in some Arab emerging market, as well analyze the moderating role of agency costs in the relationship between share return and brand. We use the Ohlson model of valuation with a sample of the most traded companies on four markets under study. The panel data regression results show a significant impact of brand on return as well as agency costs that promote the valuation model power, meaning that good corporate governance increases the degree of marketing investment efficiency in value creation. Our findings support the literature relating to the residual earnings valuation model. Furthermore, the results confirm the informative content of marketing application besides the traditional accounting figures as a promising approach for firm valuation.

scholarly journals ANALISIS DAMPAK COVID-19 TERHADAP NILAI PERUSAHAAN SEKTOR INDUSTRI BARANG KONSUMSI

2021 ◽  
Vol 10 (1) ◽  
pp. 36
Author(s):  
Fajri Ofeser ◽  
Susbiyantoro Susbiyantoro
Keyword(s):  
Consumer Goods ◽  
Firm Value ◽  
Test Method ◽  
Industry Sector ◽  
Company Value ◽  
Significant Difference ◽  
Food And Beverage ◽  
Before And After ◽  
Consumer Goods Industry ◽  
The Impact

<p><em>This study examines the impact of Covid-19 on the firm value in the consumer goods industry sector. This study aims to determine whether there is a significant difference in the firm value of the consumer goods sector between before the Covid-19 pandemic and afterwards. The study used the average firm value in the consumer goods industry four months before the pandemic and four months after the discovery of the Covid-19 case in Indonesia. Sampling using purposive sampling with a sample size of 31 companies which are grouped into four sub-sectors. The study will examine the impact of Covid-19 on the consumer goods industry sector as a whole, as well as partially on each subsector. The data were tested by using the paired sample t-test method. The results showed that there was no significant difference in the company value of the consumer goods industry before and after the Covid-19 case. The results of the partial analysis of each subsector show that the cosmetic and house hold sub- sector and the food and beverage sub-sector have significant differences between before and after the pandemic, while the tobacco manufacturer and pharmaceutical sub-sectors have no significant differences in company value between before and after the pandemic.</em></p><p align="left"><strong><em>Key words: I</em></strong><em>mpact of Covid-19, Firm Value, Consumer Goods</em></p>

scholarly journals Global diversification: Evidence from corporate operating performance

2007 ◽  
Vol 4 (4) ◽  
pp. 228-242 ◽  
Author(s):  
Mai Iskandar-Datta ◽  
Robyn McLaughlin
Keyword(s):  
Measurement Error ◽  
Measurement Errors ◽  
Operating Performance ◽  
Diversification Discount ◽  
Empirical Results ◽  
Excess Value ◽  
Performance Examining ◽  
The Impact ◽  
Global Diversification

This study casts light on the impact of the decision to diversify globally on the firm’s operating performance. Examining operating performance enables us to circumvent the measurement errors associated with excess value that is used to measure the diversification discount/premium. Our central empirical results for a sample of firms that chose to diversify globally reveal that sample firms, in spite of exhibiting a diversification discount, significantly outperform their domestic counterparts following the diversification. Our findings imply that global diversification does not result in misallocation of investment resources. The fact that our firms exhibit the diversification discount and yet outperform their domestic counterparts confirms previous studies’ conclusions that the diversification discount is most likely an artifact of measurement error

scholarly journals Impact of the 7-Day Disabled List Rule Change on Economics and Performance After Reported Concussion Injuries in Major League Baseball

2019 ◽  
Vol 7 (2) ◽  
pp. 232596711982550
Author(s):  
Kiran Chatha ◽  
Ahmed Al-Mansoori ◽  
Eric Guo ◽  
James D. Whaley ◽  
Vani J. Sabesan
Keyword(s):  
Performance Metrics ◽  
Major League Baseball ◽  
Negative Impact ◽  
Published Data ◽  
Rule Change ◽  
Major League ◽  
Before And After ◽  
The Mean ◽  
The Cost ◽  
The Impact

Background: The incidence of concussions is increasing in Major League Baseball (MLB), and the cost of these injuries in 2008 was reportedly as high as US$423 million. Team officials are more aware of concussion injuries, and one measure to address this issue was the creation of a concussion-specific 7-day disabled list (DL) in 2011. Purpose: To evaluate concussion trends among MLB players and the impact of concussion-specific 7-day DL status on postinjury player performance and team financials. Study Design: Descriptive epidemiology study. Methods: From 2005 to 2016, a total of 112 players placed on the DL because of a concussion were identified using the MLB website and were verified using established news databases. Salary information for players was collected using MLB published data, and cost was calculated with a previously published formula utilizing the injured player’s salary per game and adding the cost of his replacement. Performance metrics were compared before and after the rule change. Results: The mean number of days on the DL decreased from 38.8 before 2011 to 29.2 after 2011. The mean annual cost per player before 2011 was $1.1 million and decreased to $565,000 after the rule change. Regression analyses demonstrated a downward trend in the mean cost ( R = –0.61, P < .001). A comparison of postinjury performance metrics showed no significant differences with decreased time on the DL. Conclusion: The minimum 7-day DL change has not had a negative impact on reporting; instead, it has demonstrated decreased time on the DL and lower associated team costs. Performance metrics demonstrated no differences compared with before the rule change, suggesting that players are not negatively affected by decreased time on the DL.

scholarly journals The Impact of the Change of Water Polo Rules on the Game Dynamics

2020 ◽  
Vol 9 (2) ◽  
pp. 51-56
Author(s):  
Novica Gardasevic ◽  
Marko Joksimovic
Keyword(s):  
Dynamic Game ◽  
T Test ◽  
Additional Research ◽  
Game Dynamics ◽  
Water Polo ◽  
The Third ◽  
European Water ◽  
Rule Change ◽  
Before And After ◽  
The Impact

This research aimed to identify a change in the dynamics of the water polo game related to identifying differences in the number of goals scored before and after the introduction of the current 2019 rules. The sample analyzed 96 matches from the 2018 and 2020 European Water Polo Championships. The sample of variables included five variables for both subsamples, which referred to the total number of goals scored in the match, as well as the total number of goals per quarter. By applying the T-test for small independent samples, it was determined that at a statistically significant level, a higher number of goals was achieved in the third and fourth quarters, as well as the total number of goals in the 2020 European Championship in Hungary, compared to the 2018 European Championship in Spain. No statistically significant differences were found in the variables related to the total number of goals in the first and second quarters of the water polo match. The rule change, which came into force in 2019, was driven by changes in the game that directly reflected in a more dynamic game that resulted in more goals per game as well as in the final quarter of the game. These changes were undoubtedly preceded by changes in the total number of attacks, faster swimming, more frequent shots, which should definitely be determined by additional research.

Strategic Role of Zakat in Multidimensional Quality of Life in Sijunjung, Indonesia

2018 ◽  
Vol 15 (1) ◽  
pp. 55-72
Author(s):  
Herlin Hamimi ◽  
Abdul Ghafar Ismail ◽  
Muhammad Hasbi Zaenal
Keyword(s):  
Quality Of Life ◽  
Positive Impact ◽  
Wealth Distribution ◽  
Absolute Poverty ◽  
Before And After ◽  
The Status ◽  
Being There ◽  
The Impact

Zakat is one of the five pillars of Islam which has a function of faith, social and economic functions. Muslims who can pay zakat are required to give at least 2.5 per cent of their wealth. The problem of poverty prevalent in disadvantaged regions because of the difficulty of access to information and communication led to a gap that is so high in wealth and resources. The instrument of zakat provides a paradigm in the achievement of equitable wealth distribution and healthy circulation. Zakat potentially offers a better life and improves the quality of human being. There is a human quality improvement not only in economic terms but also in spiritual terms such as improving religiousity. This study aims to examine the role of zakat to alleviate humanitarian issues in disadvantaged regions such as Sijunjung, one of zakat beneficiaries and impoverished areas in Indonesia. The researcher attempted a Cibest method to capture the impact of zakat beneficiaries before and after becoming a member of Zakat Community Development (ZCD) Program in material and spiritual value. The overall analysis shows that zakat has a positive impact on disadvantaged regions development and enhance the quality of life of the community. There is an improvement in the average of mustahik household incomes after becoming a member of ZCD Program. Cibest model demonstrates that material, spiritual, and absolute poverty index decreased by 10, 5, and 6 per cent. Meanwhile, the welfare index is increased by 21 per cent. These findings have significant implications for developing the quality of life in disadvantaged regions in Sijunjung. Therefore, zakat is one of the instruments to change the status of disadvantaged areas to be equivalent to other areas.

ANALISIS PENGARUH PEMBANGUNAN JALAN LAYANG JANTI TERHADAP PERKEMBANGAN TATA RUANG KAWASAN JANTI STUDI KASUS : KAWASAN JANTI, DESA CATURTUNGGAL, KABUPATEN SLEMAN, D. I. YOGYAKARTA

2017 ◽  
Vol 11 (3) ◽  
pp. 255
Author(s):  
Jeky El Boru
Keyword(s):  
Road Network ◽  
Open Space ◽  
Qualitative Description ◽  
Analysis Method ◽  
Open Spaces ◽  
The Road ◽  
Before And After ◽  
Linkage Method ◽  
The Impact ◽  
Parking Place

Abstract: This research aims to analyze the impact of Janti Flyover Construction toward the growth of layout at Janti Urban Area, including structured space, open space, and linkage. Method used for data collecting are observation, air photograph monitoring, and interview, whereas the analysis method is qualitative description, which is the superimposed method of two layers, that are the layout condition before and after flyover construction. The result shows that the impact of Janti Flyover construction can be seen on building mass (solid), the increasing number of open spaces, including the road network, parking place, and park, whereas the relation between spaces, visually and structurally, can be seen on the growth of buildings which have new shapes and styles, therefore the performance of the overall building does not have a proportional shape. Considering Janti Street at the collective relation, its role is getting stronger as the main frame road network.Keywords: Flyover construction, layout changing, Janti AreaAbstrak: Penelitian ini bertujuan untuk menganalisis pengaruh pembangunan Jalan Layang Janti terhadap perkembangan tata ruang Kawasan Janti, meliputi ruang terbangun, ruang terbuka, serta hubungan antar ruang (“linkage”). Metode pengumpulan data dilakukan melalui observasi, pengamatan foto udara, dan wawancara; sedangkan metode analisis melalui deskripsi secara kualitatif yang berupa “superimposed method” dari dua lapisan kondisi lahan, yakni kondisi tata ruang sebelum dan sesudah pembangunan jalan layang. Hasil penelitian menunjukkan bahwa pengaruh pembangunan Jalan Layang Janti terdapat pada massa bangunan (“solid”), pertambahan ruang terbuka yang berupa jaringan jalan, parkir, dan taman; sedangkan pada hubungan antar ruang ̶ secara visual dan struktural ̶ yakni tumbuhnya bangunan dengan bentuk dan gaya baru, sehingga bentuk tampilan bangunan secara keseluruhan tidak proporsional. Pada hubungan kolektif, Jalan Janti semakin kuat perannya sebagai kerangka utama jaringan jalan.Kata kunci : Pembangunan jalan layang, tata ruang, Kawasan Janti

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