Customer Concentration, Managerial Ability, and Corporate Performance

We examined whether and how managerial ability affects the relationship between customer concentration and corporate performance. Based on a novel measure of managerial ability, we found that customer concentration has a significant negative effect on corporate performance, while managerial ability can mitigate this effect. The negative effect of customer concentration is only significant in the subsample of low ability and lower efficiency in asset utilization, while the moderating effect of managerial ability is significant for all levels of asset utilization efficiency and more significant for firms with a lower gross margin. The results are robust to numerous robustness tests and endogeneity concerns. Additional analysis of mechanisms shows that in addition to superior operating ability, competent managers select major customers who are more beneficial to their company and decrease the sensitivity of their research and development (R&D) investment to customers. These findings indicate that the heterogeneity of managerial ability plays an important role in the supplier–customer context when the supplier firm generally faces one or more concentrated customers.

Application of Heterogeneous Network Oriented to NoSQL Database in Optimal Postevaluation Indexes of Construction Projects

With the advent of the Internet Web 2.0 era, storage devices used to store website data are developing at an ever-increasing high-growth rate and a diversified trend. The focus on the structured data storage model has reduced the responsiveness of traditional relational databases to data changes. NoSQL database is scalable, has a powerful and flexible data model and a large amount of data, and has an increasing application potential in the memory field. Heterogeneous networks are composed of third-party computers, network equipment, and systems. Network types are usually used for other protocols to support other functions and applications. The research on heterogeneous networks can be traced back to the BARWAN project that started in 1995 at the University of California, Berkeley. The project leader RHKatz merged multiple types of nested networks for the first time to form heterogeneous network requirements for various future terminal services. Construction engineering refers to an engineering entity formed by installing pipelines and equipment that support the construction of various houses and ancillary facilities. “House construction” refers to projects with roofs, beams, columns, walls, and foundations that can form internal spaces to meet people’s needs in production, living, learning, and public activities. Among them, the engineering evaluation index is a statistical index used to evaluate and compare the quality and effects of social and economic activities through the use of equipment, such as capital turnover rate and employee labor efficiency. It is the exchange of corporate performance evaluation content and the expression of corporate performance evaluation content.

ESG Impact on Financial Corporate performance and portfolio returns: evidence of Australia and Japan

La inversión ambiental, social y de gobernanza ha experimentado un cambio radical; empresas e inversionistas se han centrado en el impacto de la divulgación de las prácticas y políticas relacionadas con el medio ambiente, la responsabilidad social y la gobernanza en sus estrategias operativas e inversiones. El propósito de este documento es demostrar el impacto que las políticas ESG tienen en la rentabilidad de las acciones de las empresas públicas en Australia y Japón. Se utilizan medidas contables y de mercado para determinar el impacto que tienen las prácticas ESG en los rendimientos de los índices bursátiles. Los datos anuales utilizados son de empresas del índice S & P / ASX de Australia y del índice Nikkei 225 de Japón, que cubren el período de 2005 a 2019. Se utilizó la regresión del modelo de efectos fijos para probar la relación significativa entre la rentabilidad de las acciones de las empresas y la puntuación ESG, la contabilidad y medidas basadas en el mercado. Se crearon carteras para analizar la relación riesgo / rentabilidad entre empresas con y sin ESG en todos los países. Los hallazgos indican resultados mixtos. Las carteras no ESG de Australia superan a las carteras S & P500 y ESG. La cartera de Japón tiene rendimientos positivos, pero está por debajo del índice de referencia. Las carteras de baja capitalización de mercado con y sin ESG superan a las carteras de mayor capitalización.

Audit committee chairman characteristics and corporate performance: Empirical evidence from Saudi Arabia

The purpose of this paper is to investigate the impact of corporate governance (CG) characteristics, specifically audit committee chairman (ACC) characteristics. (tenure, expertise, and directorship) on corporate performance (CP). The study was executed on 44 firms, which were registered under the finance sector at Bursa Saudi Arabia. In terms of its scope, the study stretched over quite a long period of time and observed a considerable number of firms; more specifically, it lasted from 2015 to 2019, and observed 195 firms. The relationship between the characteristics of audit committee (AC) directors and CP has been studied extensively in the past. Nevertheless, few studies have investigated the ACC's characteristics. To the best of the researcher's knowledge, no study has yet studied the effect of CG's characteristics, specifically, the ACC characteristics on CP. The study’s conclusions indicate that corporate governance (CG) characteristics, specifically audit committee chairman (ACC) characteristics (tenure and expertise) are positively related to the performance of finance companies. However, the audit committee chairman’s multiple directorships, on the other hand, has no relationship with corporate performance. Review of literature on the audit committee chairman characteristics used in this study is offered, the practical implications and the recommendations for future research works is also emphasized.

Insider Transactions and Performance

This study investigates the relevance of stock buy/sell transactions by insiders in Portuguese companies' performance. To achieve this aim, the sample covers the period from 2013 to 2017. The data from buy/sell transactions by insiders were collected in the internal transaction reports delivered by the companies to the Portuguese Securities Market Commission for the same time interval. The results, using panel data methodology, suggest a negative relationship between the long/short positions and the companies' performance, although the volume traded is not significant. Therefore, the increased control of Portuguese companies by their managers signals the existence of conflicts of interest of the managers, whether due to financial reasons or to strengthen their continuity in the position. As far as the authors are aware, this is the first time that a study has been carried out using insider transactions for Portuguese companies and their influence on corporate performance.

The effects of business environment and supply chain governance on business strategies and company performance

This study aims to examine the effects of the business environment and supply chain governance on business strategies and their impact on the performance of state-owned enterprises in Indonesia. Using Partial Least Square (PLS) and quantitative research, this study took state companies management and commissioners as the respondents. The study concludes that the business environment has a positive and significant effect on business strategy, and supply chain governance has a positive and significant effect on business strategy. Moreover, the results show that the business environment influences corporate performance, and supply chain governance has an effect on corporate performance. Business strategy influences corporate performance, and business strategy can mediate the influence of the business environment on corporate performance. Lastly, business strategy can mediate the influence of supply chain governance on corporate performance. The results theoretically confirm the supply chain governance in business practice and practically encouraged the company management to develop risk-management and effective internal controls to create competitive business climate and more agile supply chain management.