Search results for: listed firms

Authors: N. Amruth Raj, Suja S. Nair

Abstract:

The last six decades have borne witness to a radical change in the private sectors relationship with both the state and civil society. Firms have been increasingly called upon to adopt strategies beyond the financial aspects of their operations and consider the social and environmental impact of their business activities. In this context, many companies have modified their policies and activities and engaged into Corporate Social Responsibility (CSR) especially on Rural development in India. At the firm level, CSR is implemented through various practices, which aim to enhance the company’s social and environmental performance and may cover various topics. Examples of CSR practices are abundant in Andhra Pradesh relevant literature. For instance, in India especially at Andhra Pradesh companies like Amara Raaja requires from its suppliers to prohibit child labour, Nagarjuna Cements applies a series of programs for reducing its CO2 emissions, LANCO group of Industries addresses health and safety issues in the workplace whereas GVK works limited has adopted a series of policies for addressing human rights and environmental abuse related to its operations.

Keywords: CSR, limitations, need, objectives, rural development

Procedia PDF Downloads 255

Authors: E. Kissi, V. K. Acheamfour, J. J. Gyimah, T. Adjei-Kumi

Abstract:

Factoring accounts receivable is widely accepted as an alternative financing source and utilized in almost every industry that sells business-to-business or business-to-government. However, its patronage in the construction industry is very limited as some barriers hinder its application in the construction industry. This study aims at assessing the barriers to the use of factoring accounts receivables in the Ghanaian construction industry. The study adopted the sequential exploratory research method where structured and unstructured questionnaires were conveniently distributed to D1K1 and D2K2 construction firms in Ghana. Using the one-sample t-test and Kendall’s Coefficient of concordance data was analyzed. The most severe challenge concluded is the high cost of factoring patronage. Other critical challenges identified were low knowledge on factoring processes, inadequate access to information on factoring, and high risks involved in factoring. Hence, it is recommended that contractors should be made aware of the prospects of factoring of accounts receivables in the construction industry. This study serves as basis for further rigorous research into factoring of accounts receivables in the industry.

Keywords: barriers, contractors, factoring accounts receivables, Ghanaian, perception

Procedia PDF Downloads 128

Authors: Ibrahim Halil Korkmaz, Eren Özceylan, Cihan Çetinkaya

Abstract:

Logistics function has great potential for increasing sustainable competitive advantage, profitability, productivity, customer satisfaction and decreasing costs in all sectors. The performance of logistics sector, which has such great influence on the overall performance of the economy, attracts more attention of both researchers and sector representatives day by day. The purpose of this study is to determine the effects of research and development expenditures which spent by enterprises operating in the transportation and storage sectors on Turkey’s logistic performance index (LPI). To do so, research and development investment expenditure among the years 2009-2015 of Turkish transportation and storage firms data from the Turkish Statistical Institute and Turkeys country points in the World Bank logistics performance index in the same years data were examined. As the result of the parametric evaluation, it is seen that the research and development expenditures made have a positive effect on the logistic performance of Turkey.

Keywords: logistics performance index, R&D investments, transportation, storage, Turkey

Procedia PDF Downloads 319

Authors: María-José Palacin-Sanchez, Filippo Di Pietro, Reyes Samaniego-Medina

Abstract:

This article examines, in an institutional context such as Spanish one, the corporate board structure characteristics and determinants in entrepreneurial firms to go public. Specifically, it explores these issues through all the initial public offerings in the Spanish Alternative Equity Market (MAB), which is a market segment for smaller growing companies. The results show that: a) firm size, age of the company, and the reputation of the auditor and the nominated advisor and Corporate Governance Code favour a larger and more independent board structure that enhances its monitoring functions; and b) leverage, opportunities of growth, sector risk and ownership by executive directors all lead towards a smaller broad of directors where the role of entrepreneurship provided by executive directors remains crucial. This reflects the delicate balance of power between small-business entrepreneurs and financial equity market forces, which demand more transparency and monitoring in the companies.

Keywords: board composition, board size, corporate governance, IPO, SMEs

Procedia PDF Downloads 396

Authors: Y. Tahat, T. Dunne, S. Fifield, D. Power

Abstract:

Information about a firm’s usage of Financial Instruments (FIs) plays a very important role in determining its financial position and performance. Yet accounting standard-setters have encountered problems when deciding on the FI-related disclosures which firms must make. The primary objective of this paper is to review the extant literature on FI disclosure. This objective is achieved by surveying the literature on: the corporate usage of FIs; the different accounting standards adopted concerning FIs; and empirical studies on FI disclosure. This review concludes that the current research on FI disclosure has generated a number of useful insights. In particular, the paper reports that: FIs are a very important risk management mechanism in ensuring that companies have the cash available to make value-enhancing investments, however, without a clear set of risk management objectives, using such instruments can be dangerous; accounting standards concerning FIs have resulted in enhanced transparency about the usage of these instruments; and FI-related information is a key input into investors’ decision-making processes. Finally, the paper provides a number of suggestions for future research in the area.

Keywords: financial instruments, financial reporting, accounting standards, value relevance, corporate disclosure

Procedia PDF Downloads 408

Authors: Rodrigo Zepeda

Abstract:

Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

Procedia PDF Downloads 286

Authors: Bita Mashayekhi, Marjan Fayyazi, Parisa Sefati

Abstract:

Audit quality is a popular topic in accounting and auditing research because recent decades’ financial crises reduce the reliability of financial reports to public investors and cause significant doubt about the audit profession. Therefore, doing research to identify effective factors in improving audit quality is necessary for bringing back public investors’ trust to financial statements as well as audit reports. In this study, we explore the relationship between audit rotation and audit quality. For this purpose, we employ the Duff (2009) model of audit quality to measure audit quality and use a questionnaire survey of 27 audit service quality attributes. Our results show that there is a negative relationship between auditor’s rotation and audit quality as we consider the auditor’s reputation, capability, assurance, experience, and responsiveness as surrogates for audit quality. There is no evidence for verifying a same relationship when we use the auditor’s independence and expertise for measuring audit quality.

Keywords: audit quality, auditor’s rotation, reputation, capability, assurance, experience, responsiveness, independence, expertise

Procedia PDF Downloads 226

Authors: Juniarti, Agus Arianto Toly

Abstract:

This study aims to examine the effect of capital expenditure on the investors’ responses. The respondents were companies with the best stock performance in each sector in 2017. The observation period is 2017 to 2019. Top 10 companies in each sector with the best stock performance in companies listed on the Indonesia Stock Exchange were selected. The main variables are a growth signal which is proxied by growth in capital spending and capital expenditure, and risk and investor response, which is proxied by CAR. Financial performance as measured by ROA is a control variable in this study. The results showed that the signal of growth as measured by capital expenditures responded positively by the market, the risk moderates this influence, companies with high risk will be responded negatively by investors and vice versa. This finding corrects previous findings that only looked at the signal aspect of growth, without linking it to risk. In addition, these findings reinforce the argument that investors buy the future of the company, not a momentary financial performance. This can be seen from the absence of ROA influence on investor response. This study found that companies need to manage risk appropriately, because the risk aspect of the company is a crucial factor for investors. High risks will eliminate the benefits of strategic decisions in this case in the form of capital expenditures.

Keywords: capital expenditure, growth signals, investor response, risk

Procedia PDF Downloads 137

Authors: Maryam Goodarzi, Mahdieh Sheikhi, Mehdi Goodarzi

Abstract:

This study intends to offer an appropriate strategy development framework for a telecommunication firm (as a case study) which works on Information and Communication Technology (ICT) projects, development of telecommunication networks, and maintenance of local networks, according to its dominant condition. In this approach, first, the objectives were set and the mission was defined. Then, the capability was assessed by SWOT matrix. Using SPACE matrix, the strategy of the company was determined. The strategic direction is set and an appropriate and superior strategy was developed and offered employing QSPM matrix. The theoretical framework or conceptual model of the present study first involves 4 stages of framework development and then from stage 3 (assessing capability) onward, a strategic management model by Fred R. David. In this respect, the tools and methods offered in the framework are appropriate for all kinds of organizations, particularly small firms, and help strategists identify, evaluate, and select strategies.

Keywords: strategy formulation, firm mission, strategic direction, space diagram, quantitative strategic planning matrix, SWOT matrix

Procedia PDF Downloads 369

Authors: Ifedapo Francis Awolowo

Abstract:

The unrelenting series of embarrassing audit failures should stimulate a paradigm shift in accounting. And in this age of information revolution, there is need for a constant improvement on the products or services one offers to the market in order to be relevant. This study explores the perceptions of external auditors, forensic accountants and accounting academics on whether a paradigm shift to forensic accounting can reduce financial statement frauds. Through Neo-empiricism/inductive analytical approach, findings reveal that a paradigm shift to forensic accounting might be the right step in the right direction in order to increase the chances of fraud prevention and detection in the financial statement. This research has implication on accounting education on the need to incorporate forensic accounting into present day accounting curriculum. Accounting professional bodies, accounting standard setters and accounting firms all have roles to play in incorporating forensic accounting education into accounting curriculum. Particularly, there is need to alter the ISA 240 to make the prevention and detection of frauds the responsibilities of bot those charged with the management and governance of companies and statutory auditors.

Keywords: financial statement fraud, forensic accounting, fraud prevention and detection, auditing, audit expectation gap, corporate governance

Procedia PDF Downloads 359

Authors: Abrar Al-Hasan

Abstract:

Web 2.0 has significantly increased the amount of information available to users not only about firms and their offerings, but also about the activities of other individuals in their networks and markets. It is widely acknowledged that this increased availability of ‘social’ information, particularly about other individuals, is likely to influence a user’s behavior and choices. However, there are very few systematic studies of how such increased information transparency on the behavior of other users in a focal users’ network influences a focal users’ behavior in the emerging marketplace of online language learning. This study seeks to examine the value and impact of ‘social activities’ – wherein, a user sees and interacts with the learning activities of her peers – on her language learning efficiency. An online experiment in a peer-to-peer language marketplace was conducted to compare the learning efficiency of users with ‘social’ information versus users with no ‘social’ information. The results of this study highlight the impact and importance of ‘social’ information within the language learning context. The study concludes by exploring how these insights may inspire new developments in online education.

Keywords: e-Learning, language learning marketplace, peer-to-peer, social network

Procedia PDF Downloads 379

Authors: Sam Solaimani, Jack A. A. van der Veen, Mehdi Latifi

Abstract:

Considering the increasingly VUCA (Volatile, Uncertain, Complex, Ambiguous) business market, innovation is the name of the game in contemporary business. Innovation is not solely created within the organization itself; its 'network environment' appears to be equally important for innovation. There are, at least, two streams of literature that emphasize the idea of using the extended organization to foster innovation capability, namely, Supply Chain Collaboration (SCC) (also rooted in the Lean philosophy) and Open Innovation (OI). Remarkably, these two concepts are still considered as being totally different in the sense that these appear in different streams of literature and applying different concepts in pursuing the same purposes. This paper explores the commonalities between the two concepts in order to conceptually further our understanding of how OI can effectively be applied in Supply Chain networks. Drawing on available literature in OI, SCC and Lean, the paper concludes with five principles that help firms to contextualize the implementation of OI to the peculiar setting of SC. Theoretically, the present paper aims at contributing to the relatively under-researched theme of Supply Chain Innovation. More in practical terms, the paper provides OI and SCC communities with a workable know-how to seize on and sustain OI initiatives.

Keywords: lean philosophy, open innovation, supply chain collaboration, supply chain management

Procedia PDF Downloads 317

Authors: Sadaf Zahra Usman

Abstract:

Business Incubation has become a pervasive phenomenon in numerous parts of the world and is seen as a tool for creating a startup ecosystem. The reason for greatest barriers to the advancement of business incubation centers is the need for an entrepreneurial ecosystem and underdeveloped financial assistance and angel investor networks for startup firms. Business incubation helps in creating successful startup ventures by providing administrative support services and assistance in creating their ventures. We identify incubators into three categories: University incubation centers (UICs), Private incubators (PICs), and Government incubator centers (GICs) to measure the influence of different types of business incubation practices and their performance by using a survey questionnaire from incubation managers across Pakistan. The analysis is conducted on eight Business incubators. Results suggest that the quality of incubation centers is extremely important in this regard. The research anticipated helping policymakers, government officials, and incubation management to utilize business incubation more effectively to “hatch” innovation-based entrepreneurial development.

Keywords: entrepreneurship, unemployment, startups, economy, business incubation practice

Procedia PDF Downloads 88

Authors: Adeolu O. Dairo

Abstract:

Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.

Keywords: geospatial, geo-analytics, self-organizing map, customer-centric

Procedia PDF Downloads 178

Authors: Pavak Vyas, Hiral Vyas

Abstract:

Spin-offs commonly known as demergers in India, represents dismantling of conglomerates which is a common phenomenon in financial markets across the world. Demergers are carried out with different motives. A demerger generally refers to a corporate restructuring where, a large company divests its stake in in its subsidiary and distributes the shares of the subsidiary - demerged entity to the existing shareholders without any consideration. Demergers in Indian companies are over a decade old phenomena, with many companies opting for the same. This study examines the demerger regulations in Indian capital markets and the announcement period price reaction of demergers during year 2010-2015. We study total 97 demerger announcements by companies listed in India and try to establish that demergers results into abnormal returns for the shareholders of the parent company. Using event study methodology we have analyzed the security price performance of the announcement day effect 10 days prior to announcement to 10 days post demerger announcement. We find significant out-performance of the security over the benchmark index post demerger announcements. The cumulative average abnormal returns range from 3.71% on the day of announcement of a private demerger to 2.08% following 10 days surrounding the announcement, and cumulative average abnormal returns range from 5.67% on the day of announcement of a public demerger to 4.15% following10 days surrounding the announcement.

Keywords: demergers, event study, spin offs, stock returns

Procedia PDF Downloads 296

Authors: Mark Lokanan

Abstract:

The paper analyzes the processing of complaints against investment brokers and dealer members through the Investment Industry Regulatory Organization of Canada (IIROC) from 2008 to 2017. IIROC is the self-regulatory organization (SRO) that is responsible for policing investment dealers and brokerage firms that trade in Canada’s securities market. Data from the study came from IIROC's enforcement annual reports for the years examined. The case processing is evaluated base on the misconduct funnel that was originally designed for street crime and applies to the enforcement of investment fraud. The misconduct funnel is used as a framework to examine IIROC’s claim that it brought in more complaints (funnel in) than government regulators and shows how these complaints are funneled out and funneled away as they are processed through IIROC’s enforcement system. The results indicate that IIROC is ineffective in disciplining its members and is unable to handle the more serious quasi-criminal and improper sales practices offenses. It is hard not to see the results of the paper being used by the legislator in Ottawa to show the importance of a federal securities regulatory agency such as the Securities and Exchange Commission (SEC) in the United States.

Keywords: investment fraud, securities regulation, compliance, enforcement

Procedia PDF Downloads 156

Authors: Ashkan Zakaryazad, Ekrem Duman

Abstract:

A typical classification technique ranks the instances in a data set according to the likelihood of belonging to one (positive) class. A credit card (CC) fraud detection model ranks the transactions in terms of probability of being fraud. In fact, this approach is often criticized, because firms do not care about fraud probability but about the profitability or costliness of detecting a fraudulent transaction. The key contribution in this study is to focus on the profit maximization in the model building step. The artificial neural network proposed in this study works based on profit maximization instead of minimizing the error of prediction. Moreover, some studies have shown that the back propagation algorithm, similar to other gradient–based algorithms, usually gets trapped in local optima and swarm-based algorithms are more successful in this respect. In this study, we train our profit maximization ANN using the Migrating Birds optimization (MBO) which is introduced to literature recently.

Keywords: neural network, profit-based neural network, sum of squared errors (SSE), MBO, gradient descent

Procedia PDF Downloads 470

Authors: Vijay Meena, Arup Kumar Sarma, Chandan Mahanta

Abstract:

The environment has been getting contaminated by anthropogenic processes including those that discharge heavy metals to air, soil and water. The present work emphasizes the spatial distribution and vertical profile of six heavy metals (Cu, Zn, Mn, Ni, Fe, Cr) in three layers of mid sand bars (bed surface layer, 50 cm and 100 cm depth) at 42 sampling stations covering around 600 km stretch of the Brahmaputra River, India. Heavy metal analysis was conducted on the sample collected from mid-sand bars in the river stretch to examine the impact of dredging for various hydrological operations in the future. Sediment quality was assessed by calculating six different indices viz., EF, CF, CD, PLI, Igeo, and PERI. In all sediment layers, heavy metal concentrations have been observed to be the same as listed, Fe > Mn > Zn > Ni > Cr > Cu in μg/g. The average concentration of Cu, Mn, and Fe was found in the middle layer while Zn, Ni, and Cr were in the Surface layer. EF indicates higher enrichment in reach 2 which is likely to be due to anthropogenic sources of industrial and urbanized effluents. The sediment of the mid-sand bar was generally found moderately polluted possessing low risk to aquatic lives and the environment. Suggesting, Dredging can be possible in the future. An examination of correlation matrices, principal components analysis, and cluster analyses indicated that these heavy metals possess similar anthropogenic origins for their enrichment.

Keywords: heavy metal contamination, risk assessment, anthropogenic impacts, sediment

Procedia PDF Downloads 92

Authors: Zixi You

Abstract:

There are a number of verbal prefixes in Old Japanese. However, the selection or the compatibility of verbs and verbal prefixes is among the least investigated topics on Old Japanese language. Unlike other types of prefixes, verbal prefixes in dictionaries are more often than not listed with very brief information such as ‘unknown meaning’ or ‘rhythmic function only’. To fill in a part of this knowledge gap, this paper presents an exhaustive investigation based on the newly developed ‘Oxford Corpus of Old Japanese’ (OCOJ), which included nearly all existing resource of Old Japanese language, with detailed linguistics information in TEI-XML tags. In this paper, we propose the possibility that the following three prefixes, i-, sa-, ta- (with ta- being considered as a variation of sa-), are relevant to split intransitivity in Old Japanese, with evidence that unergative verbs favor i- and that unergative verbs favor sa-(ta-). This might be undermined by the fact that transitives are also found to follow i-. However, with several manifestations of split intransitivity in Old Japanese discussed, the behavior of transitives in verbal prefix selection is no longer as surprising as it may seem to be when one look at the selection of verbal prefix in isolation. It is possible that there are one or more features that played essential roles in determining the selection of i-, and the attested transitive verbs happen to have these features. The data suggest that this feature is a sense of ‘change’ of location or state involved in the event donated by the verb, which is a feature of typical unaccusatives. This is further discussed in the ‘affectedness’ hierarchy. The presentation of this paper, which includes a brief demonstration of the OCOJ, is expected to be of the interest of both specialists and general audiences.

Keywords: old Japanese, split intransitivity, unaccusatives, unergatives, verbal prefix selection

Procedia PDF Downloads 411

Authors: Mefleh Hamideen

Abstract:

In this investigation, the activity concentrations of ²²⁶Ra, ²³²Th, and ⁴⁰K, of some ceramic tile materials used in the local market of Jordan for interior decoration were determined by making use of High Purity Germanium (HPGe) detector. Twenty samples of the different countries of origin and sizes used in Jordan were analyzed. The concentration values of the last-mentioned radionuclides ranged from 30 Bq.kg⁻¹ (Sample from Jordan) to 98 Bq.kg⁻¹ (Sample from China) for ²²⁶Ra, 31 Bq.kg⁻¹ (Sample from Italy) to 98 Bq.kg⁻¹ (Sample from China) for ²³²Th, and 129 Bq.kg⁻¹ (Sample from Spain) to 679 Bq.kg⁻¹ (Sample from Italy) for ⁴⁰K. Based on the calculated activity concentrations, some radiological parameters have been calculated to test the radiation hazards in the ceramic tiles. In this work, the following parameters: Total absorbed dose rate (DR), Annual effective dose rate (HR), Radium equivalent activity (Raeq), Radon emanation coefficient F (%) and Radon mass exhalation rate (Em) were calculated for all ceramic tiles and listed in the body of the work. Fortunately, the average calculated values of all parameters are less than the recommended values for each parameter. Consequently, almost all the examined ceramic materials appear to have low radon emanation coefficients. As a result of that investigation, no problems on people can appear by using those ceramic tiles in Jordan.

Keywords: radon emanation coefficient, radon mass exhalation rate, total annual effective dose, radon level

Procedia PDF Downloads 196

Authors: Jirarat Teeravaraprug, Tarathorn Podcharathitikull

Abstract:

Nowadays, Ministry of Industry has given an attention to develop Eco-industrial towns in Thailand. Eco-industrial towns are a way of demonstrating the application of industrial ecology and are subjects of increased interest as government, business and society. This concept of Eco-industrial town is quite new in Thailand. It is used as a way of achieving more sustainable industrial development. However, many firms or organizations have misunderstood the concept and treated with suspicion. The planning and development of Eco-industrial towns is a significant challenge for the developers and public agencies. This research then gives an attempt to determine current problems of being Eco-Industrial towns and determine success factors for developing Eco-Industrial towns in Thailand. The research starts with giving knowledge about Eco-industrial towns to stakeholders and conducting public hearing in order to acquire the problems of being Eco-industrial towns. Then, factors effecting the development of Eco-Industrial town are collected. The obtained factors are analyzed by using the concept of IOC. Then, the remained factors are categorized and structured based on the concept of AHP. A questionnaire is constructed and distributed to the experts who are involved in the Eco-industrial town project. The result shows that the most significant success criterion is management teams of industrial parks or groups and the second most significant goes to governmental policies.

Keywords: AHP, Eco-Industrial town, success factors, Thailand

Procedia PDF Downloads 289

Authors: Seyedmohammad Mousavian, Hanlu Fan, Quingliang Tang

Abstract:

Climate change is emerging as a severe threat to our society, so businesses are expected to take actions to mitigate carbon emissions. However, the actions to be taken depend on managers’ perceptions of climate change risks. Yet, there is scant research on this issue, and understanding of the determinants of corporate perceptions of climate change is extremely limited. The purpose of this study is to close this gap by examining the relationship between perceptions of climate risk and firm-level and country-level factors. In this study, climate change risk captures physical, regulatory, and other risks, and we use data from European companies that participated in CDP from 2010 to 2017. This study reveals those perceptions of climate change risk are significantly positively associated with the environmental, social, and governance score, firm size, and membership in a carbon-intensive sector. In addition, we find that managers in firms operating in a geographic area that is sensitive to the consequences of global warming are more likely to perceive and formally recognize carbon-related risks in their CDP reports.

Keywords: carbon actions, CDP, climate change risk, risk perception

Procedia PDF Downloads 285

Authors: Norashikin Ismail, Nadia Anridho

Abstract:

Sustainable investing is a responsible investment that focuses on Environmental, Social, and Governance (ESG) elements. ESG integration is essential in the investment process as it provides a positive contribution to the corporate performance for stakeholders, specifically investors. Sustainable investing is in line with the objectives of Shariah (Maqasid of Shariah), such as social inclusion as well as environmental preservation. This study attempts to evaluate the impact of ESG elements to the corporate financial performance among Shariah compliant stocks listed in two countries, namely Malaysia and Indonesia. The motivation of this study is to provide a further understanding in corporate sustainability for two different Islamic capital markets. The existence of the FTSE4Good Asean Index has played a vital role for ESG practices and eventually encouraged specific index for ESG and Shariah Compliant stocks. Our sample consists of 60 companies over the period 2010-2020 from two Southeast countries. We employ System Generalized Method of Moments (GMM) to reduce bias and more specific parameter estimation. Shariah Compliant companies tend to have higher ESG scores and are positively correlated to corporate financial performance. ESG integration with Shariah based investing would provide higher returns and lower risks for Muslim investors. Essentially, integrating ESG and Shariah, compliant companies lead to better financial performance.

Keywords: shariah compliant, southeast asia, corporate performance, sustainable investing

Procedia PDF Downloads 182

Authors: Martin L. Zurita García, Erick O. Martínez Luque, Jessica Morales Perdomo, Yivy Martínez Duarte, Jorge Ari Noriega

Abstract:

Colombia’s click beetles (Family Elateridae) are poorly documented in their diversity and taxonomy. There are listed 43 genera for Colombia but without a specific number of their species. No species of the genus Agriotes Eschscholtz (Elaterinae: Agriotini) have been recorded in Colombia. Currently, the subtribe Agriotina in the New World includes three genera: Agriotes, Bohartina Arias and Dalopius Eschscholtz. Historically, the genera Agriotes and Dalopius have had significant taxonomic problems due to their morphological resemblance. These similarities motivated several specialists to generate taxonomic movements such as synonyms and segregations of species in these genera on several occasions. To trying to solve these taxonomic problems, an author proposes some morphological characters present in the larvae, but mainly some genital characters of the females, such as the sclerotized plates of the bursa copulatrix. After examining material newly collected in Colombia, we found a click beetle having a unique combination of diagnostic characters that clearly separate it from any other genera of Agriotina. Hence, we describe and illustrate this click beetle under the name Raphaellus deusminutosi Zurita-García, Morales-Perdomo & Martínez-Luque n. gen. & n. sp., and we also compare this genus with the other New World genera of the subtribes Agriotina.

Keywords: click beetles, new genus, new species, elaterinae, raphaellus deusminutosi

Procedia PDF Downloads 79

Authors: Timothy Whitehill

Abstract:

This paper presents an innovative chat-based focus group method for collecting qualitative data to construct a cause-and-effect analysis in business research. This method was developed in response to the research and data collection challenges faced by the Covid-19 outbreak in the United Kingdom during 2020-21. This paper discusses the methodological approaches and builds a contemporary argument for its effectiveness in exploring cause-and-effect relationships in the context of focus group research, systems thinking and problem structuring methods. The pilot for this method was conducted between October 2020 and March 2021 and collected more than 7,000 words of chat-based data which was used to construct a consensus drawn cause-and-effect analysis. This method was developed in support of an ongoing Doctorate in Business Administration (DBA) thesis, which is using Design Science Research methodology to operationalize organisational resilience in UK construction sector firms.

Keywords: cause-and-effect analysis, focus group research, problem structuring methods, qualitative research, systems thinking

Procedia PDF Downloads 216

Authors: Yassir Mahmood, Nadia Ehsan

Abstract:

In current research stream, empirical work regarding knowledge and motivation management along their dimensions is sparse. This study partially filled this void by investigating the influence of knowledge management (tacit and explicit) and motivation management (intrinsic and extrinsic) on firm performance with the mediating effects of innovative performance. Based on the quantitative research method, data were collected through questionnaire from 284 employees working in 18 different firms across the citrus industry located in Sargodha region (Pakistan). The proposed relationships were tested through regression analysis while mediation relations were analyzed through Barron and Kenny (1986) technique. The results suggested that knowledge management (KM) and motivation management (MM) have significant positive impacts on innovative performance (IP). In addition, the role of IP as full mediator between KM and firm performance (FP) is confirmed. Also, IP proved to be a partial mediator between MM and FP. From the managerial perspective, the findings of the study are vital as some of the important constituents of FP have been highlighted. The study produced important underpinnings for managers. In last, implications for policymakers along with future research directions are discussed.

Keywords: innovative performance, firm performance, knowledge management, motivation management, Sargodha

Procedia PDF Downloads 156

Authors: Dwi Wijiastutik, Tarjo, Yuni Rimawati

Abstract:

The purpose of this empirical study is to analyse how to the market reaction and the conservative degree changes on the adoption of International Financial Reporting Standart (IFRS) through Jakarta Islamic Index. The study also has given others additional analysis on the profitability, capital structure and size company toward IFRS adoption. The data collection methods used in this study reveals as secondary data and deep analysis to the company’s annual report and daily price stock at yahoo finance. We analyse 40 companies listed on Jakarta Islamic Index from 2010 to 2014. The result of the study concluded that IFRS has given a different on the depth analysis to the two of variance analysis: Moderated Regression Analysis and Wilcoxon Signed Rank to test developed hypotheses. Our result on the regression analysis shows that market response and conservatism principle is not significantly after IFRS Adoption in Jakarta Islamic Index. Furthermore, in addition, analysis on profitability, capital structure, and company size show that significantly after IFRS adoption. The findings of our study help investor by showing the impact of IFRS for making decided investment.

Keywords: IFRS, earnings response coefficient, conservatism principle

Procedia PDF Downloads 266

Authors: Andrey Norov

Abstract:

In the recent years, Samoilov Research Institute for Mineral Fertilizers JSC “NIUIF”, the oldest (established in September 1919) industry-oriented institute in Russia, has developed a range of sustainable, environment-friendly, zero-waste technologies that ensure minimal consumption of materials and energy resources and fully consistent with the principles of Green Chemistry that include: - Ecofriendly energy and resource saving technology of sulfuric acid from sulfur according to DC-DA scheme (double conversion - double absorption); - Improved zero-waste technology of wet phosphoric acid (WPA) by dihydrate-hemihydrate process applicable to various types of phosphate raw materials; - Flexible, efficient, zero-waste, universal technology of NP / NPS / NPK / NPKS fertilizers with maximum heat recovery from chemical processes; - Novel, zero-waste, no-analogue technology of granular PK / PKS / NPKS fertilizers with controlled dissolution rate and nutrient supply into the soil, which allows to process a number of wastes and by-products; - Innovative resource-saving joint processing of wastes from the production of phosphogypsum and fluorosilicic acid (FSA) into ammonium sulfate with simultaneous neutralization of fluoride compounds with no lime used. - New fertilizer technology of increased environmental and agrochemical efficiency (currently under development). All listed green technologies are patented with Russian and Eurasian patents. The development of ecofriendly, safe, green technologies is ongoing in JSC “NIUIF”.

Keywords: NPKS fertilizers, FSA, sulfuric acid, WPA

Procedia PDF Downloads 92

Authors: Sarah Mueller-Saegebrecht, André Brendler

Abstract:

Business model innovation (BMI) as an intentional change of an existing business model (BM) or the design of a new BM is essential to a firm's development in dynamic markets. The relevance of BMI is also evident in the ongoing COVID-19 pandemic, in which start-ups, in particular, are affected by limited access to resources. However, first studies also show that they react faster to the pandemic than established firms. A strategy to successfully handle such threatening dynamic changes represents BMI. Entrepreneurship literature shows how and when firms should utilize BMI in times of crisis and which barriers one can expect during the BMI process. Nevertheless, research merging BMI barriers and crises is still underexplored. Specifically, further knowledge about antecedents and the effect of moderators on the BMI process is necessary for advancing BMI research. The addressed research gap of this study is two-folded: First, foundations to the subject on how different crises impact BM change intention exist, yet their analysis lacks the inclusion of barriers. Especially, entrepreneurship literature lacks knowledge about the individual perception of BMI barriers, which is essential to predict managerial reactions. Moreover, internal BMI barriers have been the focal point of current research, while external BMI barriers remain virtually understudied. Second, to date, BMI research is based on qualitative methodologies. Thus, a lack of quantitative work can specify and confirm these qualitative findings. By focusing on the crisis context, this study contributes to BMI literature by offering a first quantitative attempt to embed BMI barriers into a structural equation model. It measures managers' perception of BMI development and implementation barriers in the BMI process, asking the following research question: How does a manager's perception of BMI barriers influence BMI development and implementation in times of crisis? Two distinct research streams in economic literature explain how individuals react when perceiving a threat. "Prospect Theory" claims that managers demonstrate risk-seeking tendencies when facing a potential loss, and opposing "Threat-Rigidity Theory" suggests that managers demonstrate risk-averse behavior when facing a potential loss. This study quantitively tests which theory can best predict managers' BM reaction to a perceived crisis. Out of three in-depth interviews in the German chemical industry, 60 past BMIs were identified. The participating start-up managers gave insights into their start-up's strategic and operational functioning. After, each interviewee described crises that had already affected their BM. The participants explained how they conducted BMI to overcome these crises, which development and implementation barriers they faced, and how severe they perceived them, assessed on a 5-point Likert scale. In contrast to current research, results reveal that a higher perceived threat level of a crisis harms BM experimentation. Managers seem to conduct less BMI in times of crisis, whereby BMI development barriers dampen this relation. The structural equation model unveils a mediating role of BMI implementation barriers on the link between the intention to change a BM and the concrete BMI implementation. In conclusion, this study confirms the threat-rigidity theory.

Keywords: barrier perception, business model innovation, business model innovation barriers, crises, prospect theory, start-ups, structural equation model, threat-rigidity theory

Procedia PDF Downloads 92

Authors: Mustapha Yakubu, Ahmed Usman, Hashim Ambursa

Abstract:

This paper presents the findings of a research which sought to investigate techniques used to improve cost and time control of construction projects management practice in Nigeria. However, there is limited research on issues surrounding the practical usage of these techniques. Data were collected through a questionnaire distributed to construction experts through a survey conducted on the 100 construction organisations and 50 construction consultancy firms in the Nigeria aimed at identifying common project cost and time control practices and factors inhibiting effective project control in practice. The study reveals that despite the vast application of control techniques a high proportion of respondents still experienced cost and time overruns on a significant proportion of their projects. Analysis of the survey results concluded that more effort should be geared at the management of the identified top project control inhibiting factors. This paper has outlined some measures for mitigating these inhibiting factors so that the outcome of project time and cost control can be improved in practice.

Keywords: construction project, cost control, Nigeria, time control

Procedia PDF Downloads 307