Search Results

You are looking at 1 - 10 of 24 items for

  • Keyword: firm performance x
Clear All Modify Search
Open access

Sebastian Lazăr

Abstract

The paper investigates firm-specific determinants of firm profitability for Romanian listed companies over the 2000-2011 period within the framework of resource based view of the firm. The results show that tangibles, leverage, size and labour intensity have negative effect on firm performance, while sales growth and value added have a positive effect. The results prove robust when introducing two-way fixed effects model and industry year effects model (in order to simultaneously account for specific industry characteristics and time effects).

Open access

Fayrouz Bencheikh and Neila Boulila Taktak

Abstract

The study of the effect of political connections on the Tunisian firm performance after the 2011 uprising is the focal point of the paper. First, by applying a multiple linear regression model, the results show that political connections are positively associated with the market firm performance. Thereafter, a difference in difference model is applied to separate the connected and non-connected firms. Such a method is most likely to determine the factors driving the market performance of politically connected firms. Hence, results reveal that leverage, age and equity holdings increase the market performance of politically connected firms.

Open access

Mihaela Herciu and Radu Alexandru Șerban

Abstract

Firm performance is a very complex and exhaustive concept. It can be related to many factors: starting with variables from balance sheet, income statement or cash-flow statement, continuing with research and development expenses or IT competences, and last but not least with intangible assets like human capital, goodwill, or brand value. The purpose of the present paper is to develop and test a model in order to measure firm performance by considering US companies that are ranked into the Global Fortune 500. In this study we used control variables (assets growth rate, net income growth rate and revenue growth rate) and depended variables – return on assets (ROA), debt to equity, research and development expenses to total operating expenses, environment, social and governance rating, Tobin‘s q – to measure firm performance. The article‘s findings suggest that when analyzing the firm performance much more factors must be considered.

Open access

Puteri Andika Sari and Wiendy Puspita Sari

Abstract

Micro, Small and Medium Enterprises (MSMEs) are flourishing in Indonesia and contributing greatly to Gross Domestic Product of Indonesia. This attracted the attention of many people to examine more about Micro SME and its development. The purpose of this study is to identify the variable forming firm performance with case studies on food MSMEs in Bandung city. This study tried to answer questions about the MSME performance improvement model of Bandung city. The method used is survey by distributing questionnaires to 40 MSMEs in Bandung. Testing of variable in this research by using Partial Least Square (PLS) test. The findings of the study revealed that firm performance model (MSMEs) has a significant influenced by entrepreneurial competency moderated by competitive scope. The managerial implication of this research is expected that the actors of MSMEs can improve their ability on financial knowledge and organize their business in order to grow and become big company in the future which can give contribution of bigger economic development to the country.

Open access

Don O’Sullivan and Andrew V. Abela

Abstract

It has been widely argued that an inability to account for marketing’s contribution has undermined its standing within the company. Furthermore, the effect of marketing activities on business success is underestimated. To respond to this pressure, marketers are investing in the development of performance measurement abilities. In this study of senior marketing managers in high-tech firms, the effect of the ability to measure marketing performance against business performance is examined. The authors also explore the effect of the ability to measure marketing against marketing’s status within the company. Results indicate that this ability is essential given that it has a significant impact on company performance, profitability, stock returns, and marketing’s stature within the company. Considering these effects, the closing managerial implications are highly relevant for marketing professionals

Open access

Silvia Sumedrea

Abstract

The study aims to see if it could offer a positive response to the question whether the company’s financial performance depends on diversity of ownership structure, board and management team. Studies of this type have been made in the developed financial markets, but hardly any were made in recent years in emerging markets. The results of this study on the Romanian financial market indicate that relationships between ownership structure, board and management team composition and firm performance are mixed. ROA, ROE, ROS and P/BV as measures of firm performance are influenced by the presence of foreign shareholders, top foreign managers, and the percentage of women managers and by company’s size. Boards including foreign members are more inclined to appoint foreign managers and women in firm’s managerial teams, but a small number of such persons are not positively associated with an increased financial performance of the firm.

Open access

Y.H. Venus Lun

Abstract

To secure cargoes, containerships operate double or triple calling of ports in the Pearl River Delta (PRD) region in China. Such shipping operations generate high CO2 emissions. This paper suggest a green shipping network (GSN) as a useful tool to transship containers from feeder ports to hub ports to lower the overall CO2 emissions in the region. From the perspective of scale operations from using the hub-and-spoke approach and the deployment of mega ships, developing a GSN within the PRD region can be beneficial, both economically and environmentally, to port users in the container transport chain.

Open access

Knut J. Michelberger

Abstract

According to the agency theory (Jensen & Meckling 1976), it is expected that there exists a positive relationship between corporate governance and company performance which is also generally assumed in recent research (Dignam & Galanis 2016). This relationship is investigated in the study performed by the author of this paper. Two different approaches were chosen in parallel: (1) quantitative data analysis, based on financial figures and corporate governance variables, and (2) a survey of supervisory board members of listed German companies. This paper is about the results of structured interviews with 30 supervisory board members. The survey confirms that corporate governance regulations have an important influence on the administration of supervisory board activities and on board competence. Many supervisory board members stated that the German Corporate Governance Codex leads to extended meeting time to fulfil regulatory requirements, more data requirements to identify and estimate risk issues and to rising risk awareness. The interview results converge with the results from the multivariate analysis.

Open access

Georgeta Vintilă, Elena Alexandra Nenu and Ştefan Cristian Gherghina

Abstract

This study aims to investigate the potential factors of influence on corporate financial performance, by using the panel data regression analysis. The research was employed for a sample consisting of 40 companies listed on the Bucharest Stock Exchange, over the period 2010-2012. Corporate financial performance considered as the dependent variable was proxied through return on assets, return on equity, and Tobin’s Q ratio. There were selected the following factors that could influence corporate financial performance: capital structure, firm size, and corporate social responsibility involvement. Likewise, several control variables have been introduced: structure of the ownership and institutional investors. The results show a strong negative relationship between corporate financial performance and debt to equity ratio. Also, there has been revealed a positive influence of the company size on performance, although weak. Furthermore, the relationship between financial performance and social performance has been statistically validated, both using accounting and market ratios.

Open access

Zorica Kalezić

Abstract

The relationship between ownership concentration and firm performance has been the focal point of corporate governance literature and the subject of rather rich empirical literature. However, the current literature lacks uniformity and consensus regarding the nature and direction of this relationship. This research aims to contribute to this literature by investigating the relationship in a small and open transition economy of Montenegro.

We use primary data1 from the period 2004-2008 to analyse, for the first time, the impact of ownership concentration on firm performance in Montenegro. The results support the hypothesis that high ownership concentration enables effective monitoring by investors to protect their interests; i.e. in the specific circumstances of transition, ownership structure may be (temporarily) used as a viable substitute for the still underdeveloped corporate governance framework.