Factors Affecting Profitability of Insurance Companies. Evidence from Kosovo

Profitability expresses the ability to make a profit from all the business activities of the company. It shows how efficiently management generates profit by utilizing all available resources. This paper examined the effects of specific company factors, namely independent variables such as: liquidity, company size, company age, tangible asset, leverage, company capital and growth of com-pany, on profitability represented by return on assets (ROA) and net profit margin (NPM) as a dependent variable. The sample in this study includes eleven insurance companies for the period 2015 - 2020. The regression results indicate that size, leverage and age of company, have significant effects on the ROA. Meanwhile in NPM of insurance companies in Kosovo size of company and firm growth have significant effects.

How Property Rights Matter to Firm Resource Investment: Evidence from China’s Property Law Enactment

Although property-rights theory has long been used to explain firms’ ownership of resources, research on the channels through which property rights affect heterogeneous firms’ investment in building resources remains scarce. Leveraging a property-law enactment in China, we find that strengthening property-rights protection leads private firms to make greater intangible and tangible asset investment compared with state-owned firms and that these effects are mediated by external equity and debt financing. Further, we unpack resource heterogeneity by explicating key differences between intangible and tangible assets, and we document an alignment between asset intangibility and financing approaches such that for intangible asset investment, equity plays a larger mediation role, whereas for tangible asset investment, debt’s mediating effect is greater. We contribute to the strategy literature by using property-rights theory to link together asset intangibility and financing approaches and by showing that the strength of property-rights protection affects firms’ resource investment and shapes firm heterogeneity.

MERGE OF THE TECHNİCAL ANALYSİS TYPES GİVES THE BEST RESULTS İN CRYPTOCURRENCY MARKET

Cryptocurrencies are a modern kind of financial instrument (Hudson & Urquhart, 2019), the first cryptocurrency is Bitcoin , proposed by who called Satoushi Nakamato (2008), as The open source was created on the proof-of-concept principle that transactions can be securely treated on a decentralized peer to peer network without the need for a central clearinghouse, which appeared 2009 ( Heid, 2013). The success of the bitcoin blazes a trail to what called ‘Altcoin” this expression means all the cryptocurrencies that set in motion after the victory of the bitcoin, these coins sell themselves as the best alternatives for the bitcoin (FRANKENFIELD, 2020) . There are many types for the altcoin. The third type of the cryptocurrency is called Tokens Unlike Bitcoin and Altcoins, tokens are not able to activate independently and are dependent on the grid of another cryptocurrency. That means they do not have their own core DLT or blockchain, but instead, are built on top of an existing cryptocurrency’s blockchain (Types of cryptocurrencies: explaining the major types of cryptos, 2019). The worth of bitcoin doesn’t depend on any tangible asset or economies of the countries while it is based upon the security of an algorithm which traces all transactions (Hudson & Urquhart, 2019). The studies determine the number of the bitcoin price development in the long -run (Ciaian, Rajcaniova, & Kancs, 2018): • Market forces of the Bitcoin supply and demand • The bitcoin’s attractiveness for the investors • The influence of global macro-financial developments If you're forming an investment strategy designed to help you trail long-term financial intentions, understanding the relationship between company size, return potential, and risk is vital. (Market cap—or market capitalization—refers to the total value of all a company's shares of stock, 2017) .Hence , Manifested importance a cryptocurrency’s market capitalization as the total values of all coins currently in circulation. the cryptocurrency’s market cap contains what’s called Bitcoin Dominance that is the ratio between the market cap of bitcoin to other coins of the cryptocurrency markets (jacobcanfield, 2019) . Cryptocurrency trade is attractive type of investment. this market treated the same of the foreign exchange and stock market ( Radityo, Munajat, & Budi, 2017). The investors using the same basic in investment (buy low, sell high) but they need to calculating the risks

ALOKASI ANGGARAN, INTELLECTUAL CAPITAL, KINERJA KEUANGAN, DAN INDIKATOR KINERJA UTAMA BADAN LAYANAN UMUM

Abstrak: Penelitian ini ditujukan pada anggaran dalam bentuk intangible asset (sumber daya manusia) dan tangible asset (aset tetap dan persediaan) yang diprediksi dapat mempengaruhi intellectual capital, kinerja keuangan sekarang dan mendatang, serta indikator kinerja utama. Alokasi anggaran sebagai baromater prioritas dalam mengembangkan intellectual capital ditujukan untuk memenuhi performa keuangan bagi indikator kinerja utama organisasi. Populasi yang juga menjadi sampel yaitu unit dan fakultas pada UIN Walisongo Semarang sebanyak 30 unit. Metode pengambilan sampling menggunakan teknik sampel jenuh yang mengambil seluruh populasi. Data yang digunakan adalah data sekunder berupa laporan tahunan dan laporan pencapaian indikator kinerja utama tahun 2019-2020. Analisis data menggunakan path analysis. Hasil penelitian ini adalah alokasi APBN tahun 2019 UIN Walisongo hanya terfokus pada tangible asset sebesar 82%, sementara 18% dialokasikan untuk intangible asset. Intangible asset tidak berpengaruh secara terhadap semua hubungan, hanya tangible asset saja yang dapat mempengaruhi intellectual capital secara langsung dan kinerja keuangan sekarang secara tidak langsung. Berdasarkan hasil penelitian ini menunjukkan perlu dilakukan audit sumber daya manusia sehingga dapat ditetapkan alokasi kebutuhan anggaran bagi intangible asset-nya. Abstract: This research is aimed at the budget in the form of intangible assets (human resources) and fixed assets and inventories that are predicted to affect intellectual capital, current and future financial performance, as well as key performance indicators. Budget allocation as a priority barometer in developing intellectual capital is aimed at meeting financial performance for the organization's main performance indicators. The population that is also a sample is 30 units and architecture at UIN Walisongo Semarang. The sampling method uses a saturated sample technique that takes the entire population. The data used is secondary data in the form of annual reports and performance indicator reports for 2019-2020. Data analysis using path analysis. The results of this study were that the 2019 State Budget allocation of UIN Walisongo only focused on tangible assets by 82%, while 18% was allocated for intangible assets. Intangible assets do not affect all relationships, only tangible assets can directly affect intellectual capital and current financial performance indirectly. Results Based on this research, it is necessary to conduct an audit of human resources so that they can determine the allocation of budget requirements for intangible assets.

Study on Multidimensionsal Aspects of Profitability: Evidence from Larsen & Toubro Ltd

The term profitability represents to the ability of an organization to obtain sufficient profit. Profitability is connected to the efficiency of an organization to maximize the profit and wealth at reasonable rate. It is relative measure of the success of the organization in terms of the effective utilization of resources. Scientific study of current trade provides a platform to forecast the possible future trends of the profitability strategic managerial decisions like expansion of the business, rising of additional finance, issue related to bonus and dividend directly connected with profit. To analyze the profitability, the researcher used profitability ratios to determine the earning by considering the variables like EBIT, Gross contribution, Net sales, operating cash flow, ROA, Capital employed, Shareholders equity are considered in the study. An appropriate statistical tools like regression analysis has been employed to measure the relationship between profitability and productivity, which predict the growth of an organization in monetary value during the study period. The researcher made an attempt to measure the profitability of L&T a leading private infrastructure company in India. The researcher made an attempt to measure the profitability of L&T a leading private infrastructure company in India. The study has analyzed the profitability of L&T. Profit being a crucial measure to determine the performance in profitability, internal determinants of the firms, earning power has been ascertained in the study by applying a multiple regression model with EBIT as dependent variable and internal data inputs has independent variable s namely operating profit margin ratio, net profit margin ratio, return on capital employed, return on net worth ratio, return on total assets, operating cash flow to total asset, EBIT to total tangible asset, profit after tax to total tangible assets, EBIT to total assets, retained cash flow to capital employed, EBIT to capital employed, PAT to tangible portion of shareholders equity, interest coverage ratio.

Capital Investment, Internasionalisasi, Dan Firm Performance Pada Perusahaan Manufaktur Di Bursa Efek Indonesia 2014-2019

Abstrak - Penelitian ini bertujuan untuk menjawab apakah capital investment memengaruhi tingkat internasionalisasi perusahaan, serta untuk menguji efek internasionalisasi terhadap firm performance. Berbagai penelitian terkait efek dari internasionalisasi pada perusahaan telah dilakukan, salah satunya pada firm performance perusahaan yang digambarkan dengan penjualan, profit, hingga nilai perusahaan. Hasilnya pun beragam, sehingga menimbulkan pertanyaan bagaimana dengan efek internasionalisasi pada perusahaan di Indonesia? Perusahaan yang beroperasi di negara dengan pasar terbuka tidak dapat menghindar dari internasionalisasi. Sehingga, fokus dari penelitian tertuju pada 72 perusahaan manufaktur yang secara aktif terlibat dalam aktivitas ekspor dari 2014 hingga 2019, sehingga menghasilkan 360 poin observasi. Capital investment akan diukur dengan variabel CAPEXTA, sedangkan internasionalisasi akan diukur dengan FSTS, dan perubahan level internasionalisasi diukur dengan FSG. Pengukuran efek internasionalisasi terhadap firm performance akan menggunakan ROA dan Tobin’s Q. Beberapa variabel kontrol yang digunakan adalah gdp growth rate, firm size, leverage, tangible asset ratio, market-to-book ratio, gross profit margin, dan sales growth. Hipotesis terkonfirmasi menggunakan regresi data panel dengan fixed effect model. Hasil penelitian menunjukkan CAPEXTA dan internasionalisasi (FSTS) memiliki hubungan negatif signifikan dan non-linear. Pengaruh CAPEXTA pada FSG ditunjukkan sebagai negatif signifikan dan non-linear juga. Sedangkan FSTS dan ROA memiliki hubungan berbentuk U dan positif, di mana hubungan FSTS dan Tobin’s Q adalah positif.Kata Kunci: capital investment, internasionalisasi, foreign sales growth, firm performance, tobin’s q

APPLICATION OF METHODS OF SPATIAL ANALYSIS IN ASSESSING THE REAL ESTATE MARKET

The article deals with the application of spatial analysis methods in assessing the real estate market. Real estate is viewed not only as a type of property but also as a tangible asset. Each participant in the real estate market solves one of two tasks: improving housing conditions or a profitable investment of capital. The selection of the most suitable real estate option that meets the criteria chosen by the purchaser is the most urgent task: theoretical and mathematical, statistical, cluster analysis. The city of Rostov-on-Don was chosen as the main object of the study. This choice was due to the high population density, the presence of a developed infrastructure: socially significant facilities (schools, kindergartens, hospitals, post offices, MFC offices), sports and entertainment centres, as well as a developed transport network. The main criterion for determining the most suitable service for obtaining the initial data for the study was the largest number of ads. The analysis of platforms containing information about real estate allowed us to choose the Avito service, which has the most complete database, as a data source. To collect data, a parser program was used that performs parsing. The information obtained was processed on a computer using spatial analysis software. The cartographic basis of the project is a map of the OpenStreetMap service.

Cryptocurrency as a New Financial and Legal Instrument: Defining Cryptoassets in Property Law

The scientific research study is about the approach to crypto assets in property law. The cryptocurrency, possessing the signs of many civil rights, at the same time does not belong to any of them and does not correspond with anyone in a complete way. This is due to the uniqueness of cryptocurrency as a phenomenon itself. Cryptocurrencies can also represent different types between cryptocurrency holders, as well as between holders and creators of the platform, which have been concluded by implicit actions. The authors propose new definition for cryptocurrency through the cryptographically protected property concept, which has the feature of cryptographic authentication, decentralization, management through consensus, the use of distributed ledgers. According to the authors, the starting point for determining the ownership of the cryptocurrency should be that the subject of the right will be the asset’s owner if he or she legally gained access to the private key, by analogy as the subject acquired the ownership of a tangible asset on a legal basis.

How Firm Characteristic on Capital Structure Can Improve Technology Improvement in Malaysian Manufacturing SMEs?

Small and medium enterprises (SMEs) is a important contribution to boost the economies overall the world. In fact, SMEs always struggle to access the financing compared list company. There are several factors influence the capital structure decision in SMEs. This study focuses on manufacturing SMEs companies and examines the influence of firm characteristics (firm size, tangible asset, liquidity, profitability and firm growth) on capital structure towards technology improvement. The results showed only liquidity and firm growth were found to be positive significantly affect the external financing. Furthermore, internal and external financing also able improve the manufacturing’s technology performance. Conclusion, different firm characteristics have different leverage privileges which trying to attain optimal capital structure. The variations in the capital structures affect the costs of equity or debt and cost of capital. This study provides benchmarks for corporate managers in SMEs when making a company’s decision on the company’s performance.

ECONOMIC NATURE AND LEGAL STATUS OF CRYPTOCURRENCY

The article focuses on the relevance of establishing legal norms for virtual currency, which is currently working in the gray zone. The article substantiates why cryptocurrency was referred to other property in the framework of civil law. The issues of referring cryptocurrency to such objects of civil rights as monetary funds, currency values, securities, intellectual property, intangible assets, etc. are considered in detail. Based on a comprehensive analysis, the classification of cryptocurrency as a different property within the framework of civil law is substantiated. The author's definition of cryptocurrency is given as a cryptographically protected property with signs of cryptographic authentication, decentralization, management through consensus, and the use of distributed ledgers. The economic essence and legal status of the cryptocurrency proposed by the authors emphasize the exclusively digital version of the existence and use of this object, indicates the possibility of the turnover of this asset, delimits the concept of cryptocurrency, non-cash and electronic money. The definition of a crypto asset as property makes it possible to develop tax legislation, since the implementation of cryptocurrency is close to investment instruments, which makes it possible to clarify the issue of paying such a tax as VAT. Cryptocurrency as property describes not the thing itself, but the legal relations associated with it, that is, those rights that, according to the rules of law, can be exercised. The article also raises one of the main issues that must be resolved - this is the recognition of ownership of this specific type of property. According to the authors, the starting point for determining the ownership of the cryptocurrency should be that the subject of the right will be the owner of this asset if he legally gained access to the private key by analogy as the subject acquired the ownership of a tangible asset on a legal basis.