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2021 ◽  
Vol 13 (2) ◽  
pp. 72-81
Author(s):  
Efva Octavina Donata Gozali ◽  
Ruth Samantha Hamzah ◽  
Chomsah Novianti Pratiwi ◽  
Marissa Octari

The study aims to examine the association of firms characteristics comprise of firm age, firm size, leverage, and profitability to earnings management (EM). The data is collected from listed Singaporean corporation in Singapore stock exchange (SGX) in the period of 2017 and 2018. Purposive sampling and panel data regression were employed as the sampling and analysis method, respectively. Our results are based on a large sample of 852 firm-year observations. The results show that firm age and firm size significantly affected EM, meanwhile, leverage and profitability indicate insignificant effects to EM. In addition, these results provide information to investors and potential investors regarding future investment decisions.


Author(s):  
Matthias S. Johann ◽  
Jörn H. Block ◽  
Lena Benz

Abstract Hidden champions are market leaders in niche markets and are an important part of the German Mittelstand. Although the hidden champion phenomenon has received considerable interest in practice, few academic studies on this issue exist. We especially lack evidence on the financial performance of hidden champions. Our study addresses this gap and investigates the profitability of hidden champions. In analyzing a panel dataset of 4677 German manufacturing firms, of which 617 are hidden champions, we find that hidden champions have significantly higher profitability with regard to return on assets but less so regarding return on equity. The hidden champion performance effect on return on assets is valued at 1.7 percentage points. Furthermore, the hidden champion performance effect decreases with firm size. Our paper contributes to the literature on the effect of firm strategy on firm profitability and adds to a better understanding of the hidden champion phenomenon.


Energies ◽  
2021 ◽  
Vol 14 (20) ◽  
pp. 6493
Author(s):  
Mohammad Abir Shahid Chowdhury ◽  
Shuai Chuanmin ◽  
Marcela Sokolová ◽  
ABM Munibur Rahman ◽  
Ahsan Akbar ◽  
...  

Uninterrupted availability of energy and power resources is essential for the productivity and smooth functioning of an enterprise. However, constrained by financial resources, smaller firms in developing economies face a plethora of challenges concerning the access to electricity. However, less attention has been paid in the extant literature to explore this phenomenon. The present study investigates the impact of access to electricity on labor productivity in Bangladesh in the presence of electricity constraints, electricity obstacles, and SME firm size. It employs the OLS regression and propensity score matching (PSM) technique for treatment effect to deal with the selection bias and endogeneity issue using the World Bank Enterprise Survey’s cross-sectional firm-level data for 3196 sample firms over the period of 2007–2013. The results provide evidence in support of SMEs’ labor productivity in response to electricity access. Lack of electricity access was partially found to affect SMEs’ labor productivity significantly negatively. Further, the results show a positive impact of firm size on firm performance. However, results from this model appear that constrained SMEs’ access to electricity has a negative relationship with firm performance. The article then suggests several policy implications on changing government regulations regarding the efficient use of renewable energy resources to enhance electricity generation for optimized SME performance and sustainable economic development in Bangladesh.


2021 ◽  
pp. 1-30
Author(s):  
ADNAN SHOAIB ◽  
MUHAMMAD AYUB SIDDIQUI ◽  
MUHAMMAD BILAL SAEED

This study describes the impact of leverage on earnings management and determines varying relationships with the moderating effect of firm size in linear and nonlinear setting. Results from selected firms of members’ countries of Asia Pacific Trade Agreement (APTA) unequivocally revealed that in all countries the relationship between the leverage and earnings management is sigmoid in nature. Firms can limit the managers reporting of income-increasing accruals through debt creation up to a certain threshold after which further debt creation challenges the debt covenants. The firm size substantially moderates the relationship of leverage and earnings management and systematically converses the relationship through moderation. The relationship between accruals and firm size is also sigmoid in nature. The specific behavior is seen in Indian firms in which relationship between leverage and accruals is like Richard’s curve in nature due to higher agency cost issue. In Pakistan, firm size has been found as a major factor that guides the accrual due to higher political cost. Additionally, in the setting of comparative static analysis, at the first place, we examine cash flows-risk determining liquidity-risk position of the firms in Pakistan and Bangladesh. At the second place, in the case of China, India and Pakistan, this study reveals an increasing relationship between the effective tax rate and the probability of reporting negative accruals which may create attitude of tax evasion among the firms in these countries. In the third place, in the case of China, India and Bangladesh, sales growth depicts an increasing relationship with the likelihood of reporting positive accruals. However, decreasing relationship is observed for Pakistan and Sri Lanka between the sales growth and the possibility of positive accruals. This study has major implications for funding institutions, debt manager and regulatory bodies of Asian Economies.


Author(s):  
Hasian Purba

Taxes are the largest source of state revenue which functions as a source of funds intended for financing government expenditures and as a tool to regulate and implement policies in the social and economic fields and are used for the greatest welfare of the people. Therefore, corporate and individual taxpayers are expected to comply with their tax obligations voluntarily and comply with tax regulations. Taxpayer non-compliance can cause disruption to State finances. One of the ways of non-compliance is done by means of tax avoidance. The objectives of this study are as follows: 1) To find empirical evidence regarding the effect of independent boards of commissioners on tax avoidance; 2) Finding empirical evidence regarding the effect of the audit committee on tax avoidance; 3) Finding empirical evidence regarding the effect of audit quality on tax avoidance; 4) Finding empirical evidence regarding the effect of disclosure of corporate social responsibility on tax avoidance; 5) Finding empirical evidence regarding the extent to which firm size can moderate the relationship between independent boards of commissioners and tax avoidance; 6) Finding empirical evidence regarding the extent to which firm size can moderate the relationship between the audit committee and tax avoidance; 7) Finding empirical evidence regarding the extent to which firm size can moderate the relationship between audit quality and tax avoidance; and 8) Finding empirical evidence regarding the extent to which firm size can moderate the relationship between disclosure of corporate social responsibility and tax avoidance. This type of research used in this research is casual associative research (causal associative research). The population in this study were all manufacturing companies listed on the Indonesia Stock Exchange for the 2015-2019 period. The sample selection was done by using purposive sampling method. The analytical method used to test the hypothesis is Moderated Regression Analysis (MRA). The results showed that: 1) The independent board variable has no effect on tax avoidance in a positive direction; 2) The audit committee variable has no effect on tax avoidance in a negative direction; 3) The audit quality variable has no effect on tax avoidance in a negative direction; 4) The variable of corporate social responsibility disclosure has a negative effect on tax avoidance; 5) The size of the company is able to moderate the relationship between the independent board of commissioners and tax avoidance in a negative direction; 6) The size of the company is unable to moderate the relationship between the audit committee and tax avoidance in a negative direction; 7) The size of the company is not able to moderate the relationship between audit quality and tax avoidance in a positive direction; and 8) Company size is able to moderate the relationship between disclosure of corporate social responsibility and tax avoidance in a negative direction.


2021 ◽  
Vol 9 (9) ◽  
pp. 203-218
Author(s):  
Shivakumar ◽  
Babitha Thimmaiah

Working capital is important aspect which ensures sufficient short-term capital to maintain the firm’s day-to-day operations and creating maximum value to the firm. As working capital may have a major impact on profitability, understanding the firm-specific determinants of working capital is important. This study was conducted on the firm-specific determinants of working capital in the Indian Realty Sector.  The independent variables employed in the study includes firm size, asset tangibility, leverage, profitability, sales growth, and fixed assets growth, while the dependent variables employed in the study are inventory, receivables, payables, and cash conversation days. The study based on the sample of thirteen companies of Indian Realty Sector, of which five were large-cap, five were mid-cap, and three are small-cap companies. The study was conducted for the period of 2011-20. The study employed fixed-effects panel regression to analyse the significance of the firm-specific determinants of working capital in the Indian Realty Sector.


2021 ◽  
Vol 8 (5) ◽  
pp. 655
Author(s):  
Reza Rahmania Putri ◽  
Dian Filianti

ABSTRAKPenelitian ini bertujuan untuk menginvestigasi pengaruh dari Dewan Pengawas Syariah (DPS), efisiensi, profitabilitas, dan ukuran perusahaan secara simultan dan parsial terhadap pengungkapan risiko operasional pada perbankan syariah di Indonesia. Metode yang digunakan adalah metode kuantitatif. Teknik analisis data akan menggunakan analisis statistik deskriptif, analisis regresi data panel, koefisien determinasi (R2), serta uji F dan uji t. Teknik penentuan sampel yang digunakan adalah teknik purposive sampling. Hasil penelitian ini menunjukkan bahwa ukuran perusahaan, profitabilitas, efisiensi, jumlah anggota DPS dan frekuensi rapat DPS secara simultan berpengaruh signifikan terhadap pengungkapan risiko operasional. Secara parsial, ukuran perusahaan dan frekuensi rapat Dewan Pengawas Syariah berpengaruh positif dan signifikan, sedangkan efisiensi berpengaruh negatif dan signifikan. Profitabilitas dan jumlah anggota Dewan Pengawas Syariah tidak berpengaruh signifikan terhadap pengungkapan risiko operasional. Penelitian ini memberikan kontribusi terhadap pengetahuan mengenai keputusan pengungkapan risiko operasional perbankan syariah dan dapat menjadi rujukan bagi akademisi, pemerintah, investor syariah, dan stakeholders perbankan syariah dalam mengetahui indikator-indikator yang mempengaruhi pengungkapan risiko operasional perbankan syariah.Kata Kunci: risiko operasional, Dewan Pengawas Syariah, efisiensi, profitabilitas, ukuran perusahaan. ABSTRACTThis study aims to investigate the effect of the Sharia Supervisory Board, efficiency, profitability, and firm size simultaneously and partially on operational risk disclosure in Islamic banking in Indonesia. The method used is a quantitative method. The data analysis technique will use descriptive statistical analysis, panel data regression analysis, coefficient of determination (R2), as well as F test and t test. The sampling technique used is purposive sampling technique. The results of this study indicate that company size, profitability, efficiency, number of members of the Sharia Supervisory Board and the frequency of meetings of the Sharia Supervisory Board simultaneously have a significant effect on operational risk disclosure. Partially, company size and frequency of Sharia Supervisory Board meetings have a positive and significant effect, while efficiency has a negative and significant effect. Profitability and the number of members of the Sharia Supervisory Board have no significant effect on the disclosure of operational risk. This research contributes to knowledge about decisions on disclosure of Islamic banking operational risk and can be a reference for academics, government, sharia investors, and sharia banking stakeholders in knowing the indicators that affect the disclosure of Islamic banking operational risks.Keywords: Operational Risk, Sharia Supervisory Board, Efficiency, Profitability, Firm Size.


2021 ◽  
Vol 1 (1) ◽  
pp. 41-50
Author(s):  
Jeremiah W. Tumaini

For the industrialization efforts to be fruitful and sustainable, they should be coupled with Green Manufacturing (GM) which simply implies clean manufacturing. This study analyses the drivers and barriers to GM in Tanzania. It specifically analyses the drivers and barriers to GM and ranks them for prioritisation.  The study made the use of cross-sectional primary data which were collected using interviewer administered questionnaires from a random sample of 185 manufacturing firms in two purposively selected regions of Dodoma and Mwanza in Tanzania. In the analysis, the Binary Logistic regression was used to estimate the drivers and barriers to GM using the STATA software. The results showed that some of the significant drivers to green manufacturing include; firm size, firms resources, current legislation, incentives, and public pressure, The significant barriers included high short term costs, low customer demand, technological risk, lack of awareness and unclear benefits. It was also found that the highest ranked driver to GM was the firm size and the highest ranked barrier to GM was the short term costs. The study finally recommends that the relevant authorities should prioritize on the significant drivers and barriers to GM so that the move towards industrialisation in Tanzania can be more fruitful and sustainable.


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