scholarly journals The Impact of Ownership Structure on the Private Information: An Empirical Study Based on China’s A-Share Market

2021 ◽  
Vol 14 (7) ◽  
pp. 12
Author(s):  
Zhisen Zeng ◽  
Yuying Li
Keyword(s):  
Information Content ◽  
Financial Market ◽  
Ownership Structure ◽  
Private Information ◽  
Monthly Data ◽  
Capm Model ◽  
The Impact ◽  
A Company ◽  
Final Calculation ◽  
A Share

Ownership structure will have a certain impact on the private information of a company, which will have a complex impact on the financial market. Therefore, it is necessary to study the impact of the ownership structure on private information. This paper uses the monthly data of individual stocks in A-share from 2019 to 2020 to calculate the goodness of fitof the CAPM model to measure the private information content, and then conducts multiple analysis processes such as multicollinearity analysis and heteroscedasticity analysis to ensure the accuracy of the model. Then, this paper uses the WLS regression method for final calculation. The results show that the higher ownership concentration, the less private information content, the weaker private information arbitrage. Finally, this paper puts forward some valuable suggestions for China's financial market based on the empirical results.

Comparison of Risk Index Estimating Methods on the Polish Financial Market

e-Finanse ◽  
2018 ◽  
Vol 14 (4) ◽  
pp. 1-11
Author(s):  
Krzysztof Janas
Keyword(s):  
Boundary Conditions ◽  
Financial Market ◽  
Risk Index ◽  
Review Of The Literature ◽  
Public Companies ◽  
Accounting Rules ◽  
The Subject ◽  
Capm Model ◽  
The Impact ◽  
Final Amount

AbstractThe purpose of this paper is to determine a practical approach of calculation of the systematic risk of companies in line with the CAPM model. By performing an analysis of the methodology used in practice of determining the beta and review of the literature on the subject the accounting rules that make the best possible impact on the change in the level of risk index are determined. In this work on the Polish financial market are also carried out simulations showing the impact of the change in assumptions on the final amount of beta. Based on the empirical results there is a recommendation formulated as to what method should determine beta for public companies using the CAPM model. These boundary conditions are also possible implementations of the proposed approach and possible desirable solutions, if minimum boundary conditions are not met. The defined scope for the use of the recommended method of calculating the risk index allows us to reduce the error probability of over-or underestimation of the value of the index.

Ownership Structure and Stock Price Crash Risk: Evidence from Karachi Stock Exchange

2019 ◽  
Vol 1 (2) ◽  
pp. 72-75
Author(s):  
Maheen Imtiaz ◽  
◽  
Khalid Mahmood Ahmad ◽  
Abdul Karim
Keyword(s):  
Corporate Governance ◽  
Ownership Structure ◽  
Stock Price ◽  
Stock Exchange ◽  
Multiple Linear Regression Model ◽  
Institutional Ownership ◽  
Crash Risk ◽  
Managerial Ownership ◽  
The Impact ◽  
A Company

Stock price crash risk is one of the most significant risks associated with the firm. Therefore, it is important to consider the factors which may influence the price crash risk. Various factors of corporate governance found to have an impact on the stock price crash risk. The ownership structure of the firm is a critical attribute of corporate governance. This study's objective is to determine the impact of two types of ownership of a company (managerial ownership and institutional ownership) on its stock price crash risk. To examine whether a firm's ownership structures have an association with stock price crash risk, the multiple linear regression model applied on the panel data of 190 companies listed on KSE for the year 2009-2018. The results of this study show that there is a significantly positive relationship between the institutional ownership and stock price crash risk. However, no association found between managerial ownership and price crash risk. These results imply that the percentage of institutional ownership should be reduced in the firm's ownership structure to reduce the firm's stock price crash risk.

scholarly journals Gender Diversity and Educational Attainment in Non-Listed Private Firms: Evidence from Slovakia

2019 ◽  
Vol 69 (2) ◽  
pp. 131-159
Author(s):  
Pavol Ochotnický ◽  
Nick Wilson ◽  
Marek Káčer ◽  
Martin Alexy
Keyword(s):  
Educational Attainment ◽  
Ownership Structure ◽  
Gender Diversity ◽  
Retail Trade ◽  
University Education ◽  
Private Firms ◽  
Factor Productivity ◽  
Company Directors ◽  
The Impact ◽  
A Company

The paper tests the impact of gender diversity and educational attainment of owners and company directors on the performance of private firms in the Slovak economy. The paper demonstrates that in retail trade the gender diversity both in owners and company directors within a company leads to higher total factor productivity and partially lower propensity to fail. However, in other industries the companies with higher proportion of females in the ownership structure or among company directors tend to be less efficient and grow less. Although there is evidence that higher proportion of females self-select into lower risk sectors and occupations, our main results hold after controlling for it. In terms of educational attainment, the companies with higher proportions of owners or company directors with university education are more productive and grow more in terms of turnover, but there is no evidence that default of companies is related to educational attainment. We suggest that education is unique and superior resource and it generally benefits the companies by having higher proportion of educated owners and/or directors.

Bullish/Bearish Strategies of Trading: A Nonlinear Equilibrium

2004 ◽  
Vol 39 (4) ◽  
pp. 873-886 ◽  
Author(s):  
Ramdan Dridi ◽  
Laurent Germain
Keyword(s):  
Empirical Evidence ◽  
Financial Market ◽  
Private Information ◽  
Information Structure ◽  
Risky Asset ◽  
Order Flow ◽  
Risk Neutral ◽  
Nonlinear Equilibrium ◽  
The Impact ◽  
Exact Amount

AbstractWe study a financial market where risk-neutral traders are endowed with a signal that perfectly reveals the direction (but not the exact amount) of the liquidation value of a normally distributed risky asset. The impact of order flow on prices is nonlinear with a bullish/bearish information structure, which is broadly consistent with empirical evidence. Also, private information is revealed quicker than in a strategic oligopoly.

scholarly journals Structure of Board of Directors and Company’s Performance

2015 ◽  
Vol 10 (11) ◽  
pp. 43
Author(s):  
Ehsan Khansalar ◽  
Mahmood Lari Dasht-Bayaz ◽  
Darioush Maboodi
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Ownership Structure ◽  
Significant Relationship ◽  
Analytical Method ◽  
Conflicts Of Interest ◽  
Stock Exchange ◽  
External Shareholders ◽  
The Impact ◽  
A Company

The formation of shareholders or a board of directors’ structure is considered one of the important issues of corporate governance that impact on the motivation of managers. We shall consider that the impact of a board of directors’ ownership structure on the performance and productivity of corporate governance is a multidimensional and complicated issue. For this reason, we can expect all kinds of conflicts and contradictions of interests among people and groups, including conflicts of interest among owners and managers, shareholders and creditors, real and legal shareholders, internal and external shareholders etc. In this regard, there is extensive research about the impact of a board of directors’ ownership and managers on the performance and the value of a company within different countries and researchers have achieved different results and conflicts. Regarding a lot of research in this field, this research by using a descriptive-analytical method has studied the impact of a board of directors’ structure and features on the performance of corporate governance within companies listed on the Tehran stock exchange. The results indicate that there is a positive and significant relationship between CEO duality and a company’s performance, also there is no significant relationship between a board of directors’ adherence and a company’s performance.

The Role of Web Based Accounting Online System 2.0 as the Company's Income and Expense Management

2017 ◽  
Vol 1 (1) ◽  
pp. 44-49
Author(s):  
Nur Azizah ◽  
Dedeh Supriyanti ◽  
Siti Fairuz Aminah Mustapha ◽  
Holly Yang
Keyword(s):  
Financial Management ◽  
Accounting System ◽  
Bank Account ◽  
Web Based ◽  
Online System ◽  
Version 2.0 ◽  
User Friendly ◽  
The Impact ◽  
A Company

In a company, the process of income and expense of money must have a profit-generating goal base. The success of financial management within the company, can be monitored from the ability of the financial management in managing the finances and utilize all the opportunities that exist with as much as possible with the aim to control the company's cash (cash flow) and the impact of generating profits in accordance with expectations. With a web-based online accounting system version 2.0, companies can be given the ease to manage money in and out of the company's cash. It has a user friendly system with navigation that makes it easy for the financial management to use it. Starting from the creation of a company's cash account used as a cash account and corporate bank account on the system, deletion or filing of cash accounts, up to the transfer invoice creation feature, receive and send money. Thus, this system is very effective and efficient in the management of income and corporate cash disbursements.   Keywords:​Accounting Online System, Financial Management, Cash and Bank

PENERAPAN CORPORATE SOCIAL RESPONSIBILITY DALAM PENGELOLAAN WAKAF PRODUKTIF

2020 ◽  
Vol 3 (1) ◽  
Author(s):  
Masruchin Masruchin
Keyword(s):  
Environmental Impacts ◽  
Infrastructure Development ◽  
Religious Activities ◽  
Short Term ◽  
Local Society ◽  
Business Units ◽  
Corporate Social ◽  
The Impact ◽  
A Company ◽  
Social And Environmental Impacts

Corporate Social Responsibilityis a concept that a company has various forms of responsibility to all stakeholders including consumers, employees, shareholders, communities and the environment in all aspects of the company's operations that include economic, social, and environmental aspects. Therefore CSR is closely related to "sustainable development", in which a company, in carrying out its activities must base its decisions not only on the impact on economic aspects, such as the level of profits or dividends (profits), but also must consider the social and environmental impacts that arise from that decision, both for the short term and the longer term.Pondok Modern Darussalam Gontor (PMDG), in managing its Productive Waqf by establishing business units which mostly involve workers from the local society around PMDG. They are employed according to their skills. This is a form of implementing CSR in order to help advance and improve the welfare of the local society. The existence of these various business units is one of the educational facilities and as a form of CSR application which is actually intended to educate in the fields of independence, entrepreneurship, sincerity and sacrifice.PMDG involvement in social activities that are useful for the local society such as infrastructure development and village facilities, regeneration of students who are from around PMDG to be able to get higher education with funding from the PMDG, doing guidance to the local society through various religious activities, educational and economic activities is a form of PMDG responsibility to the local society environment and also to all stakeholders such as students, Ustadz, employees, so as to provide social and environmental impacts for the short term and the longer term.Keywords: Corporate Social Responsibilityandproductive waqf.

PENGARUH FAMILY OWNERSHIP, PERUBAHAN TARIF PAJAK DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Elfina Astrella Sambuaga
Keyword(s):  
Ownership Structure ◽  
Tax Reform ◽  
Stock Exchange ◽  
Family Ownership ◽  
Corporate Debt ◽  
Tax Rates ◽  
Manufacturing Companies ◽  
The Impact ◽  
The Relationship ◽  
Debt Policy

<p>This study aims to provide empirical evidence related to the influence of family ownership, tax reform on corporate debt policy, and further prove the impact on the firm value.This study examined the effect of changes in tax rates in 2009 and 2010 on the relationship between family ownership structure and corporate debt policy. The population of this research is manufacturing companies listed in Indonesia Stock Exchange for 8 consecutive years (2006-2013), with the period of observation for 7 years (2007-2013). A period of 8 years was taken to see a company that is consistently listed on the Stock Exchange prior to the end of the observation period. The result of this study shows that tax reform from progressive tax rates to a flat rate does not affect the relationship between family ownership structure and corporate debt policy. In contrast to the year 2009, changing rate from 28% to 25% in late 2010 was a significant effect on the debt policy with the company of family ownership. Based on the results, it was found that family ownership and debt policy significantly affect the company's enterprise value. It can be concluded, the higher the family ownership, the company's value would be diminished. Instead, the company's value will increase when the company adds to its debt policy.</p><p>Keywords : debt policy, family ownership, firm value, tax reform.</p>

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