scholarly journals The Impact of Business Life Cycle and Performance Discrepancy on R&D Expenditures-Evidence from Taiwan

2017 ◽  
Vol 6 (3) ◽  
pp. 135 ◽  
Author(s):  
Shu-Chin Chang ◽  
She-Chih Chiu ◽  
Pei-Cheng Wu
Keyword(s):  
Life Cycle ◽  
Growth Stage ◽  
Stock Exchange ◽  
Mature Stage ◽  
Maturity Stage ◽  
Taiwan Stock Exchange ◽  
Cycle Growth ◽  
And Performance ◽  
Performance Discrepancy ◽  
The Impact

The purpose of this study is to examine the impact of business life cycle and performance discrepancy on Research and Development (R&D) expenditure. Specifically, we argue that managers of firms in different stages of business life cycle make R&D decisions according to their perception of performance discrepancy. We investigate three stages of business life cycle: growth stage, maturity stage, and stagnant stage. Based on a sample of firms listed in Taiwan Stock Exchange, we find that managers of firms in the growth stage tend to increase R&D expenditure when they experience positive performance discrepancy. This implies that growing firms’ slack-resource-driven behavior is leads to the increase in R&D expenditure. There is some evidence that managers of firms in the mature stage tend to increase R&D spending when they experience negative performance discrepancy, indicate that negative performance discrepancy triggers the problem-driven search behavior of managers of mature firms.

scholarly journals TINGKAT MANAJEMEN LABA PADA BERBAGAI TAHAP SIKLUS HIDUP PERUSAHAAN DI INDONESIA

2020 ◽  
Vol 1 (2) ◽  
pp. 311-328
Author(s):  
Amelia Hartono ◽  
Muhammad Hadyan ◽  
Rinaningsih ◽  
Retno Yuliati
Keyword(s):  
Life Cycle ◽  
Earnings Management ◽  
Growth Stage ◽  
Stock Exchange ◽  
Mature Stage ◽  
Public Companies ◽  
Management Level ◽  
Anova Model ◽  
Life Cycle Stages ◽  
Significant Difference

This research is conducted to examine the differences in earnings management level at various company life cycle stages in Indonesia, especially for public companies which listed on Indonesia Stock Exchange from 2002 to 2016. This research uses a sample of 4,400 observational data which obtained by purposive sampling from Capital IQ. To determine the stage of the company life cycle, this research uses Dickinson's (2011) model criteria by dividing the company life cycle into five stages: introduction, growth, mature, shake-out, and decline. This research is tested with the ANOVA model and proves that there is a significant difference in the level of earnings management in the decline, introduction, and shake-out companies compared to the growth stage. However, the results of this study proves that the value of earnings management in growth and mature stage companies are not significantly difference.

27 Greenhouse Gas Emissions and a Partial Life Cycle Assessment When Growing Pigs Are Fed High Wheat Millrun Diets

2021 ◽  
Vol 99 (Supplement_1) ◽  
pp. 24-25
Author(s):  
Agbee L Kpogo ◽  
Jismol Jose ◽  
Josiane Panisson ◽  
Bernardo Predicala ◽  
Alvin Alvarado ◽  
...  
Keyword(s):  
Life Cycle Assessment ◽  
Life Cycle ◽  
Greenhouse Gas ◽  
Growing Pigs ◽  
Pork Production ◽  
Feed Production ◽  
Farm Model ◽  
And Performance ◽  
Carbon Dioxide Co2 ◽  
The Impact

Abstract The impact of feeding growing pigs with high wheat millrun diets on the global warming potential (GWP) of pork production was investigated. In study 1, a 2 × 2 factorial arrangement of wheat millrun (0 or 30%) and multi-carbohydrase enzyme (0 or 1 mg kg-1) as main effects was utilized. For each of 16 reps, 6 pigs (60.2±2.2 kg BW) were housed in environmental chambers for 14d. Air samples were collected and analyzed for carbon dioxide (CO2); nitrous oxide (N2O); and methane (CH4). In study 2, data from study 1 and performance data obtained from a previous feeding trial were utilized in a life cycle assessment (LCA) framework that included feed production. The Holos farm model (Agriculture and Agri-Food Canada, Lethbridge. AB) was used to estimate emissions from feed production. In study 1, total manure output from pigs fed 30% wheat millrun diets was 30% greater than pigs on the 0% wheat millrun diets (P < 0.05), however, Feeding diets with 30% millrun did not affect greenhouse gas (GHG) output (CH4, 4.7, 4.9; N2O, 0.45, 0.42; CO2, 1610, 1711; mg s-1 without or with millrun inclusion, respectively; P > 0.78). Enzyme supplementation had no effect on GHG production (CH4, 4.5, 5.1; N2O, 0.46, 0.42; CO2, 1808, 1513; mg s-1 without or with enzymes, respectively; P > 0.51). In study 2, the LCA indicated that the inclusion of 30% wheat millrun in diets for growing pigs resulted in approximately a 25% reduction in GWP when compared to the no wheat millrun diets. Our results demonstrate that 30% wheat millrun did not increase GHG output from the pigs, and thus the inclusion of wheat millrun in diets of growing pigs can reduce the GWP of pork production.

The Correlation between R&D Activities and Income Rate in Addition to Gross Profit Rate of the Enterprise Operation

2013 ◽  
Vol 798-799 ◽  
pp. 865-868 ◽  
Author(s):  
Tina C. Chiao
Keyword(s):  
Research And Development ◽  
Financial Performance ◽  
Institutional Investors ◽  
Trading Volume ◽  
Stock Exchange ◽  
Business Value ◽  
Profit Rate ◽  
Taiwan Stock Exchange ◽  
The Impact ◽  
Future Business

As the trading volume by institutional investors in Taiwans stock market increasing in recent years according to information of Taiwan Stock Exchange Corporation, the influence on financial performance by the institutional investors is getting more and more important although institutional investors play a monitoring role to the company. Thus the impact of R & D activities on the financial performance of enterprises is studied frequently. This study focuses on the impact of R & D activities on income rate in addition to gross profit rate of the Enterprise Operation. The implication in practice is that business must attract research and development intensity (RDI) relative to research and development density (RDD) to improve future business value.

scholarly journals Corporate Social Responsibility, Corporate Life Cycle, and Dividend Policy

2020 ◽  
Vol 27 (2) ◽  
pp. 101
Author(s):  
Eman Abdel-Wanis
Keyword(s):  
Corporate Social Responsibility ◽  
Life Cycle ◽  
Social Responsibility ◽  
Growth Stage ◽  
Dividend Policy ◽  
Business Environment ◽  
Life Cycles ◽  
Corporate Life Cycle ◽  
Corporate Social ◽  
The Impact

The aim of this paper is to investigate the impact of corporate social responsibility(CSR) on dividend policy through corporate life cycle (CLC) as a mediator using pathanalysis for 308 firms-observation for 80 non-financial firms during the period from 2014to 2017 using smart PLS (partial least square). This paper explores the impact of the socialresponsibility on the dividends policy and explores the role of each life cycle in this effecton dividends. The results show that firms in their growth stage are positively associatedwith CSR, while firms in stage of decline are less likely to invest in CSR. High CSR firmsmay use dividend policy to reduce the agency problems related to overinvestment in CSR.Results refer to corporate life cycle isn't influenced by dividends. The results show thatcorporate life cycles play an important role in enhance the relationship CSR and dividendpolicy especially in the growth stage in in the Egyptian business environment

scholarly journals Impacts of Capital Structure and Dividend Policy on the Financial Performance of Listed Companies on Vietnamese Stocks Market

2021 ◽  
Author(s):  
Loan T. Vu ◽  
Anh T. H. Vu ◽  
Thao T. P. Nguyen
Keyword(s):  
Dividend Policy ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Generalized Least Squares ◽  
Listed Companies ◽  
Dividend Yield ◽  
And Performance ◽  
The Impact ◽  
The Relationship

This study is taken to describe the relationship between the levels of debt, dividend policy and the performance of firms listed in Vietnamese stock market. The dividend policy is proxied by the dividend yield while firm’s performance is measured by ROE, ROA, and P/E. The total number of observations is 552, collecting from 92 listed companies on Hochiminh Stock Exchange during 2012 and 2019. The analysis results from generalized least squares (GLS) models report that the choice of firm’s performance proxy affects the relationship between firm’s performance and leverage as well as dividend policy. While leverage has positive impact on ROE and ROA, it has negative impact on P/E. In contrast, dividend yield ratio is negatively correlated with ROA and P/E but positively correlated with ROE. However, the impact of debt levels on firm’s performance is independent with the choice of leverage proxy. The findings of this research are expected to provide better understanding about the connection between debt, dividend and performance of the firm that can support the managers to make relevant decisions.

scholarly journals Corporate Life Cycle and the Explanatory Power of Risk Measures versus Performance Measures

2011 ◽  
Vol 2 (6) ◽  
pp. 199-206 ◽  
Author(s):  
Hamed Omrani ◽  
Saber Samadi . ◽  
Ahmad Kazemi Margavi . ◽  
Hamid Asadzadeh . ◽  
Hemad Nazari .
Keyword(s):  
Life Cycle ◽  
Performance Measures ◽  
Regression Models ◽  
Stock Exchange ◽  
Risk Measures ◽  
Explanatory Power ◽  
Financial Information ◽  
Mature Stage ◽  
Life Cycle Stages ◽  
Corporate Life Cycle

The major aim of this paper is to compare the explanatory power of risk measures versus performance measures in different life-cycle stages. To test the hypotheses, first, sample firms were classified into three life-cycle stages (Growth, Mature and Decline). Then, using regression models and Vuong's Z-statistic, the hypotheses were investigated. In this study, financial information of 75 firms which were accepted at Tehran’s Stock Exchange (TSE) from 2003 to 2008 (450 firm-years) was examined. The results of this study show that in growth and decline stages, the explanatory power of risk measures is significantly higher than performance measures and in mature stage, the opposite is true.

Forecasting “Wooden Round” Reliability During Preliminary Design

1987 ◽  
Author(s):  
H. Weaks
Keyword(s):  
Life Cycle ◽  
Life Cycle Costing ◽  
Turbine Engines ◽  
Preliminary Design ◽  
Design Phase ◽  
Weapon Systems ◽  
And Performance ◽  
The Impact

The USAF’s R&M 2000 policy emphasizes the integration of reliability and maintainability considerations into a system’s preliminary design phase. This emphasis leads to unique requirements for turbine engines, including those of “wooden rounds” such as a HARPOON type missiles. In particular, it requires the development of tools for assessing the impact of design iterations on the reliability of “wooden round” weapon systems. Such tools must account for design iterations impact on storage, captive carry and launch reliability. A Markov approach is described in this paper, which provides an ability to track the reliability of a fleet of missiles/engines on a period by period basis, allowing one to assess when scheduled maintenance is appropriate and what components require such maintenance. Thus, inputs for Life Cycle Costing are generated, as well as the ability to determine tradeoffs between R&M and performance.

Linking firms’ life cycle, capabilities, and green innovation

2019 ◽  
Vol 31 (2) ◽  
pp. 284-305
Author(s):  
Adeel Tariq ◽  
Yuosre F. Badir ◽  
Umar Safdar ◽  
Waqas Tariq ◽  
Kamal Badar
Keyword(s):  
Life Cycle ◽  
Growth Stage ◽  
Process Innovation ◽  
Innovation Performance ◽  
Mature Stage ◽  
Technological Capabilities ◽  
Green Process ◽  
Content Type ◽  
Green Process Innovation ◽  
The Relationship

Purpose The purpose of this paper is to investigate the relationship between firms’ life cycle stages (mature vs growth) and green process innovation performance. In addition, this research delineates the mechanism by which the mature stage firms are more strongly associated with green process innovation performance compared to growth stage firms and recognizes technological capabilities as a mediating variable fundamental to achieve a higher level of green process innovation performance. Design/methodology/approach This research collected data from 202 publicly listed Thai manufacturing firms. Initially, it used multiple regression analysis to test the relationship between mature stage firms and green process innovation performance compared to the relationship between growth stage firms and green process innovation performance. Later, this research followed Muller et al. (2005) to test the mediating role of technological capabilities and conducted (Sobel, 1982, 1986; Preacher and Hayes, 2004) tests to further validate the mediation effect. Findings The hypothesized relationships were found to be significant, providing a strong support that mature stage firms have higher green process innovation performance compared with growth stage firms. Moreover, the technological capabilities more strongly mediate the relationship between mature stage firms and green process innovation performance compared to growth stage firms and green process innovation performance. Originality/value This research contributes to the existing understanding about the internal drivers of green process innovation performance by incorporating and analyzing the firms’ life cycle stages as an internal driver. This research also contributes by empirically testing the mediating role of technological capabilities on the relationship between firms’ life cycle stages and green process innovation performance.

Industry life cycle, geographic diversification and performance of international new ventures

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nitin Pangarkar ◽  
Lin Yuan
Keyword(s):  
Life Cycle ◽  
New Ventures ◽  
High Technology ◽  
International New Ventures ◽  
Geographic Diversification ◽  
Content Type ◽  
Industry Life Cycle ◽  
And Performance ◽  
The Impact ◽  
Technology Industries

Purpose The purpose of this paper is to examine how geographic diversification affects the performance of international new ventures. Design/methodology/approach This study develops hypotheses about the individual and joint effects of geographic diversification and industry life cycle on the performance of international new ventures. This paper also introduces industry technology characteristics as a contingent factor for the above relationships and tests the hypotheses on a large panel data set. Findings Based on the analyses of the strategies and performance of 699 listed Chinese international new ventures between 1991 and 2014, this study finds that the impact of geographic diversification on performance is contingent on the stage of the industry life cycle and that the moderating effect differs across high-technology and low-technology industries. The results suggest that it is fruitful for international new ventures in high-technology industries to undertake geographic diversification in earlier stages of the industry life cycle, but international new ventures in low-technology industries are better off undertaking geographic diversification during the later stages of the industry life cycle. Originality/value The study contributes to the literature on international entrepreneurship by identifying the industry life cycle conditions under which the learning advantages of international new ventures are effective and facilitate the achievement of better performance. This paper also shows that industry technology type matters for geographic diversification strategies of international new ventures.

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