Search results for: Vietnamese listed companies

Authors: Paulina Solórzano Salgado, Luis Rodrigo Valencia Pérez, Alberto de Jesús Pastrana Palma

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In this research, it is presented a digital maturity framework, which contributes to the development of small and medium-sized enterprises (SMEs) in the commercial sector. This proposal is based on three important concepts: Marketing activities in the enterprise, information and communication technologies ICT, as well as Innovation. Prior to the development of this framework, was formulated a quantitative assessment tool through a literature review, and was validated with a method used by experts, and which determines the relationship of digital marketing and innovation activities in companies. The instrument was applied to 64 Mexican companies from the Made in Mexico database, which allowed both descriptive results and correlation results. These contributed to the development of the methodology, and confirming that the management of digital marketing has a positive relation with innovation activities of companies. Also, that analytics in digital marketing is a source for its development. In this paper, the management stages and activities are presented to be developed by companies in order to generate knowledge, which will allow them to reach its digital maturity.

Keywords: digital marketing, digital maturity, innovation, SMEs

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Authors: Ernest Nweke, Enkhtuya Bavuudorj

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The harsh realities of the scandalous failure of several notable corporations in the past two decades have inextricably resulted in a surge in corporate governance studies. Nevertheless, little or no attention has been paid to corporate governance studies in Mongolian firms and much less to the comprehension of the correlation among ownership structure, corporate governance mechanisms and trend of innovative activities. Innovation is the bed rock of enterprise success. However, the funding and support for innovative activities in many firms are to a great extent determined by the incentives provided by the firm’s internal and external governance mechanisms. Mongolia is an East Asian country currently undergoing a fast-paced transition from socialist to democratic system and it is a widely held view that private ownership as against public ownership fosters innovation. Hence, following the privatization policy of Mongolian Government which has led to the transfer of the ownership of hitherto state controlled and state directed firms to private individuals and organizations, expectations are high that sufficient motivation would be provided for firm managers to engage in innovative activities. This research focuses on the relationship between ownership structure, corporate governance on one hand and the level of innovation on the hand. The paper is empirical in nature and derives data from both reliable secondary and primary sources. Secondary data for the study was in respect of ownership structure of Mongolian listed firms and innovation trend in Mongolia generally. These were analyzed using tables, charts, bars and percentages. Personal interviews and surveys were held to collect primary data. Primary data was in respect of corporate governance practices in Mongolian firms and were collected using structured questionnaire. Out of a population of three hundred and twenty (320) companies listed on the Mongolian Stock Exchange (MSE), a sample size of thirty (30) randomly selected companies was utilized for the study. Five (5) management level employees were surveyed in each selected firm giving a total of one hundred and fifty (150) respondents. Data collected were analyzed and research hypotheses tested using Chi-Square test statistic. Research results showed that corporate governance mechanisms were better and have significantly improved overtime in privately held as opposed to publicly owned firms. Consequently, the levels of innovation in privately held firms were considerably higher. It was concluded that a significant and positive relationship exists between private ownership and good corporate governance on one hand and the level of funding provided for innovative activities in Mongolian firms on the other hand.

Keywords: corporate governance, innovation, ownership structure, stock exchange

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Authors: Bita Mashayekhi, Zeynab Lotfi Aghel

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The determinants of Earnings Response Coefficient (ERC), including firm size, earnings growth, and earnings persistence are studied in this research. These determinants are supposed to be moderator variables that affect ERC and Return Response Coefficient. The research sample contains 82 Iranian listed companies in Tehran Stock Exchange (TSE) from 2001 to 2012. Gathered data have been processed by EVIEWS Software. Results show a significant positive relation between firm size and ERC, and also between earnings growth and ERC; however, there is no significant relation between earnings persistence and ERC. Also, the results show that ERC will be increased by firm size and earnings growth, but there is no relation between earnings persistence and ERC.

Keywords: earnings response coefficient (ERC), return response coefficient (RRC), firm size, earnings growth, earnings persistence

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Authors: Renato Dias Baptista

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The purpose of this paper is to analyze the elements of the cultural dimension in the internationalization process of Brazilian companies in Bolivia. This paper is based on research on two major Brazilian transnational companies which have plants in Bolivia. To achieve the objectives, the interconnective characteristics of culture in the process of productive internationalization were analyzed aiming to highlight it as a guiding element opposite the premises of the Brazilian leadership in the integration and development of the continent. The analysis aims to give relevance to the culture of a country and its relations with internationalization.

Keywords: culture, transnational, internationalization, Bolivia, Brazil

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Authors: Yan Wang, Yuan George Shan

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This study examines whether earnings management reduces firm performance and how other comprehensive income (OCI) disclosure and strong corporate governance restrain earnings management. Using a data set comprising 6,260 firm-year observations from listed companies on the Shanghai and Shenzhen Stock Exchanges during 2009–2015, the results indicate that OCI disclosure generally improves firm performance, but earnings management lowers firm performance. The study also finds that OCI disclosure and corporate governance are complementary in restraining earnings manipulation and promote firm performance. The implications of the findings are relevant policy-makers and regulators in assisting them evaluate the consequences of convergence of Chinese Accounting Standards with the International Financial Reporting Standards.

Keywords: other comprehensive income, corporate governance, earnings management, firm performance, China

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Authors: Imad Zeyad Ramadan

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In this paper a genetic algorithm was developed to construct the optimal portfolio based on the Treynor method. The GA maximizes the Treynor ratio under budget constraint to select the best allocation of the budget for the companies in the portfolio. The results show that the GA was able to construct a conservative portfolio which includes companies from the three sectors. This indicates that the GA reduced the risk on the investor as it choose some companies with positive risks (goes with the market) and some with negative risks (goes against the market).

Keywords: oOptimization, genetic algorithm, portfolio selection, Treynor method

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Authors: Isabel Acero, Nuria Alcalde

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The economic crisis and notorious corporate scandals have caused social indignation and sparked the debate concerning the underlying rationality of the compensation that directors receive. In this context, this study examines the determinants of the remuneration of directors in listed Spanish companies using individualized data. A multilevel methodology appropriate for this type of data has been used that allows us to differentiate between inter-company variations and intra-company variations. The results show that company size is the variable (at the company level) that exerts the greatest influence on the level of director´s compensation. One surprising finding is that the presence of independent directors on the board has a positive influence on remuneration. At the individual level, tenure and experience have a significant influence on the level of compensation, while the director´s level of education does not appear to have an effect on it.

Keywords: board of directors, compensation, experience, multilevel, tenure

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Authors: Burcu Oksuz, Volkan Altıintas, Zulfiye Acar Senturk

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Though in the academic literature, it is emphasized that Public Relations (PR) should not be seen only as media relations, in practise, the media relations has a very dominant position at the communication studies carried out by many companies. There are many PR practitioners who have journalism background. However the number of the practitioners who have started to work in the sector after having PR education at the universities has been highly increasing. Therefore, it can be said that previous journalist dominance has diminished at the public relations sector in Turkey. However, by virtue of the fact that some companies and practitioners consider the media coverage the first priority of PR, this much is certain that the dominant position of media relations is ongoing. On the other hand, still many companies measure the success of their PR by how much place their companies have taken. This situation creates major pressure on the PR practitioners to have close relations with the media members and to make them write articles about their companies. Thereupon, PR practitioners have to take the time for the media relations and the media relations comes into prominence more than the other PR functions. The aim of this study is to reveal the PR functions at the companies and to evaluate the position of the media relations in the PR studies. Therefore, it is aimed to find out at what extend the discourse of “Public relations is not media relations” is accepted in practice and actualised. Accordingly, a research about 15 hotel enterprises which are located in the city of İzmir will be carried out. İzmir as one of the most important tourism destinations has many hotels. The PR/corporate communications managers will be interviewed profoundly within the scope of this study and PR functions performed by hotels will be discussed in details in consideration of the datum obtained.

Keywords: media relations, public relations, public relations practitioners, Turkey

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Authors: Yu-Sheng Lin, Sheng-Teng Huang

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In recent years, the issue of corporate social responsibility has become an enthusiastic discussion and hottest issue around the world. To make the enterprises be sustainable management and sustainable development, more and more enterprises realize that fulfill its corporate social responsibility is the good choice. It is an essential, important issue that the leader needs know how to lead the staff in balance benefit, also emphasize on economic, social and environmental aspects to impact the company, then enhance the consensus. The leader needs to improve cohesion of personnel, and implement the corporate social responsibility in staff behavior, in order to show a performance in the effort of corporate social responsibility of enterprises. The previous literature mostly is committed to comparison of corporate social responsibility in the industry and service industry, regarding to literature of shipping companies were relatively rare. This paper aims to take the domestic and foreign shipping companies of corporate social responsibility reports as the data analysis, and refer to the international convention (GRI) such as association and organization of CSR standard values. Overall comparison with shipping companies of CSR reports, annual reports and other public information, and taking Taiwan shipping companies as the target, respectively, with the international conventions and the world's top ten leading shipping companies to do the comparison and analysis. Shipping companies in Taiwan are bound to the standard that set by the international convention for the first goal diligently and following step is contend with the world's top ten leading shipping companies. There are 3 ~ 5 experts to be involved in interview after the result is completed. They will indicate the superiority and inferiority then provide the opinion, recommendation in the needed action. Through this study, we can explore the importance of corporate social responsibility report for shipping companies, and also provide the clear orientation to external providers to improve corporate social responsibility. In addition, it can provide the academic research and business experts as a reference; finally, serving shipping companies to complete another contribution.

Keywords: Corporate social responsibility (CSR), CSR reports, statistical methods, expert interview method

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Authors: Nicodemus Tiendem, Arrey Mbayong Napoleon

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The heightening of competition and the quest for market share has left business persons and research communities re-examining and reinventing their competitive practices. A case in point is Porter’s generic strategy which has received a lot of criticism lately regarding its inability to maintain a company’s competitive power. This is because it focuses more on the organisation and ignores her external partners, who have a strong bearing on the company’s performance. This paper, therefore, sought to examine Porter’s generic strategies alongside supply chain quality management practices in terms of their effectiveness in building the competitive power of manufacturing companies in Cameroon. This was done with the use of primary data captured from a survey study across the supply chains of 20 manufacturing companies in Cameroon using a five-point Likert scale questionnaire. For each company, four 1st tier suppliers and four 1st tier distributors were carefully chosen to participate in the study alongside the companies themselves. In each case, attention was directed to persons involved in the supply chains of the companies. This gave a total of 180 entities comprising the supply chains of the 20 manufacturing companies involved in the study, making a total of 900 participants. The data was analysed using three multiple regression models to assess the effect of Porter’s generic strategy and supply chain quality management on the marketing performance of the companies. The findings proved that in such a competitive atmosphere, supply chain quality management is a better tool for marketing performance over Porter’s generic strategies and hence building the competitive power of the companies at all levels of the study. Although the study made use of convenience sampling, where sample selectivity biases the results, the findings aligned with many other recent developments in line with building the competitive power of manufacturing companies and thereby made the findings suitable for generalisation.

Keywords: supply chain quality management, Porter’s generic strategies, competitive power, marketing performance, manufacturing companies, Cameroon

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Authors: Shubham Banerjee

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The paper focuses on, how the business model of the Indian multi brand ecommerce industry is unstable and is headed towards an e-commerce bubble burst. Due to multiple players in the industry and little or no product differentiation, the Indian multi brand ecommerce industry has turned into an oligopoly market where there is hardly any brand loyalty of the customers. Companies have been rapidly increasing their selling cost in the forms of discounts and advertisements to retain and grow its customer base. This is resulting into higher revenues, but is driving the companies further away from their break-even point. With close to half a decade into the industry, none of the companies have been able to generate profits. With private investors losing patience and devaluing companies, the paper will throw light on how the multi brand e-commerce industry will change in the coming years.

Keywords: bubble burst, finance, multi brand ecommerce, product differentiation, private investor

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Authors: Suvankar Chakraborty

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Introduction: Corporate Social Responsibility means the obligations of business to act in a manner which will serve the best interests of the Society. The Companies Act , 2013 for the first time has emphasized on the fact that every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director. In the previous Companies Act, 1956 there was no such compulsion for constituting a Corporate Social Responsibility Committee. Objective: This study examines the changes in the perception of corporate sectors so far as social responsibility is concerned. Methodology: The study is based on secondary data obtained from various websites of different corporate sectors and the Gazette of India related to Companies Act, 1956 and the new Companies Act, 2013. For capturing the perception of the corporate world regarding the provisions of CSR in the new Companies Act, 2013, primary data has been collected through structured questionnaire. Findings: Corporate Social Responsibility can put a company on a strong base of sustainable development and in facing the business risk of foreclosure or winding up. Shouldering social responsibility on a long-term basis can help a company not only in increasing its reputation in the business world but also helps in minimizing Government intervention. . But, there can hardly be any universal rule that the area of social responsibility being wholly and solely dependent on the ethical aspect of the corporate sectors. But having said that it may be asserted that business ethics may be a key driver of CSR activities rather than rule based CSR activities in the years to come.

Keywords: business ethics, corporate social responsibility, companies act, 2013, CSR committee

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Authors: Fatemeh Rouhi, Hadi Nassiri

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Earning forecast is a key element in economic decisions but there are some situations, such as conflicts of interest in financial reporting, complexity and lack of direct access to information has led to the phenomenon of information asymmetry among individuals within the organization and external investors and creditors that appear. The adverse selection and moral hazard in the investor's decision and allows direct assessment of the difficulties associated with data by users makes. In this regard, the role of trustees in corporate governance disclosure is crystallized that includes controls and procedures to ensure the lack of movement in the interests of the company's management and move in the direction of maximizing shareholder and company value. Therefore, the earning forecast of companies in the capital market and the need to identify factors influencing this study was an attempt to make relationship between moral hazard and corporate governance with earning forecast quality companies operating in the capital market and its impact on Earnings Forecasts quality by the company to be established. Getting inspiring from the theoretical basis of research, two main hypotheses and sub-hypotheses are presented in this study, which have been examined on the basis of available models, and with the use of Panel-Data method, and at the end, the conclusion has been made at the assurance level of 95% according to the meaningfulness of the model and each independent variable. In examining the models, firstly, Chow Test was used to specify either Panel Data method should be used or Pooled method. Following that Housman Test was applied to make use of Random Effects or Fixed Effects. Findings of the study show because most of the variables are positively associated with moral hazard with earnings forecasts quality, with increasing moral hazard, earning forecast quality companies listed on the Tehran Stock Exchange is increasing. Among the variables related to corporate governance, board independence variables have a significant relationship with earnings forecast accuracy and earnings forecast bias but the relationship between board size and earnings forecast quality is not statistically significant.

Keywords: corporate governance, earning forecast quality, moral hazard, financial sciences

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Authors: Zuzana Crhová, Karel Kolman, Drahomíra Pavelková

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Knowledge is considered as an important asset which can help organizations to create competitive advantage. The necessity of taking care of these assets is more important in these days – in days of turbulent changes in business environment. Knowledge could facilitate adaption to constant changes. The aim of this paper is to describe how the knowledge sharing can be supported in the manufacturing companies. The methods of case studies and grounded theory were used to present information gained by carrying out semi-structured interviews. Results show that knowledge sharing is supported in very similar ways in respondent companies.

Keywords: case study, human resource management, knowledge, knowledge sharing

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Authors: Radhika Ramanchi

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The oil market during 2014-2015 in India with large price fluctuations is very confusing to individual investor. The drop in oil prices supported stocks of some oil marketing companies (OMCs) like Bharat Petroleum Corporation, Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation etc their shares rose 84.74%, 128.63% and 59.16%, respectively. Lower oil prices, and lower current account, a smaller subsidy burden are the reasons for outperformance. On the other hand, lower crude prices giving downward pressure on upstream companies like Oil and Natural Gas Corp. Ltd (ONGC) and Reliance Petroleum (RIL) Oil India Ltd (OIL). Not having clarity on a subsidy sharing mechanism is the reason for downward trend on these stocks. Shares of ONGC and RIL have underperformed so far in 2015. When the oil price fall profits of the companies will effect, generate less money and may cut their dividends in Long run. In this situation this paper objective is to study investment strategies in oil marketing companies, by applying CAPM and Security Market Line.

Keywords: petrol industry, price fluctuations, sharp single index model, SML, Markowitz model

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Authors: Marko Čular

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The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyses transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper, quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: transparency report, index quality of transparency report, Croatian audit act, code of ethics for professional accountants

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Authors: Ngo Thi Thanh Mai, Nguyen Thu Ha, Frances Crawford

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The demand for developing international social work field education is on the rise. Global foreign universities have considered international collaboration and cross-cultural perspective as an essential part of their social work training curriculum. International placement program at Faculty of Social Work (FSW), Hanoi National University of Education (HNUE) has met the need of international social work students, as well as the institutions involved in achieving social work professional social work knowledge in the Vietnamese context. This program has also lead to a long-term collaboration between HNUE and several global institutions in developing social work education, research and practice skill. This paper focuses on the benefits and challenges of students who involved in the global placement programme at Faculty of Social Work (FSW), Hanoi National University of Education (HNUE) and content of international field education provided to the international students based on the experience of the authors. Study results indicated that the participants have opportunity them to explore a new culture and social work system abroad especially in the Vietnamese context. However, there are still difficulties that international students have to face during different phases of the exchange process such as language and communication barriers, cultural value differences, insufficient support and supervision during placement. Basing on these results, the authors intend to propose some recommendations to enhance the programme activities such as pre-departure orientation, support and supervision during placement, cultural exchange and follow-up activities.

Keywords: social work education, social work, international placement, field placement, Vietnam

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Authors: Asmaa Abazaid, Maram Al-Ostah, Nadeen Abu-Zahra, Ruba Bawab, Refaat Abdel-Razek

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Innovation audit is defined as a tool that can be used to reflect on how the innovation is managed in an organization. The aim of this study is to audit innovation in the second top Engineering Firms in the world, and one of the Small Medium Enterprises (SMEs) companies that are working in United Arab Emirates (UAE). The obtained results are then compared with four international companies from China and Brazil. The Diamond model has been used for auditing innovation in the two companies in UAE to evaluate their innovation management and to identify each company’s strengths and weaknesses from an innovation perspective. The results of the comparison between the two companies (Jacobs and Hyper General Contracting) revealed that Jacobs has support for innovation, its innovation processes are well managed, the company is committed to the development of its employees worldwide and the innovation system is flexible. Jacobs was doing best in all innovation management dimensions: strategy, process, organization, linkages and learning, while Hyper General Contracting did not score as Jacobs in any of the innovation dimensions. Furthermore, the audit results of both companies were compared with international companies to examine how well the two construction companies in UAE manage innovation relative to SABIC (Saudi company), Poly Easy and Arnious (Brazilian companies), Huagong tools and Guizohou Yibai (Chinese companies). The results revealed that Jacobs is doing best in learning and organization dimensions, while PolyEasy and Jacobs are equal in the linkage dimension. Huagong Tools scored the highest score in process dimension among all the compared companies. However, the highest score of strategy dimension was given to PolyEasy. On the other hand, Hyper General Contracting scored the lowest in all of the innovation management dimensions. It needs to improve its management of all the innovation management dimensions with special attention to be given to strategy, process, and linkage as they got scores below 4 out of 7 comparing with other dimensions. Jacobs scored the highest in three innovation management dimensions related to the six companies. However, the strategy dimension is considered low, and special attention is needed in this dimension.

Keywords: Brazil, China, innovation audit, innovation evaluation, innovation management, Saudi Arabia, United Arab Emirates

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Authors: Tukundane Hillary

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This research paper analytically evaluates the project control practice levels used by the building construction companies within Kampala, Uganda. The research also assesses the outcome of project control practices on the productivity of the companies. The research was performed to ascertain the current control practices among 160 respondents from various construction companies registered with the Uganda Registration Services Bureau. This research used amalgamation from multiple literature to obtain the variables. The research adopts 34 standard control practices from four vital project control duties: planning, monitoring, analyzing, and reporting. These project control tasks were organized using mean response ratings grounded on their relevance to the construction companies. Results showed that evaluating performance with the use of curves (4.32), timely access to information and encouragement (4.55), report representation using quantitative tools 4.75, and cost value comparison application during analysis (4.76) were rated least among the control practices. On the other hand, the top project control practices included formulation of the project schedule (8.88), Project feasibility validation (8.86), Budgeting for each activity (8.84), Key project route definition (8.81), Team awareness of the budget (8.77), Setting realistic targets for projects (8.50) and Consultation from subcontractors (8.74). From the results obtained by the sample respondents specified, it can be concluded that planning is the most vital project control task practiced in the building construction industry in Uganda. In addition, this research ascertained a substantial relationship between project control practices and the performance of building construction companies. Accordingly, this research recommends that project control practices be effectively observed by both contracting and consulting companies to enhance their overall performance and governance.

Keywords: cost value, project control, cost control, time control, project performance, control practices

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Authors: Ummu Salma Al Azizah, Herri Mulyono, Anisa Mauliata Suryana

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The significance of corporate governance regarding to the agency problem have been transparent. This study examine the impact of corporate governance on the performance of Islamic banking in Indonesia. By using fixed effect model and added some control variable, the current study try to explore the correlation between the theoretical framework on corporate governance, such as agency theory and risk management theory. The bank performance (Return on Asset and Return on Equity) which are operational performance and financial performance. And Corporate governance based on Board size, CEO duality, Audit committee and Shariah supervisory board. The limitation of this study only focus on the Islamic banks performance from year 2015 to 2020. The study fill the gap in the literature by addressing the issue of corporate governance on Islamic banks performance in Indonesia.

Keywords: corporate governance, financial performance, islamic banks, listed companies, Indonesia

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Authors: Zeynep Ayfer Bozat

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As traditional innovation has already taken its place in managers’ to do lists; managers and companies have started to look for new ways to go beyond the traditional innovation. Because of its cost, traditional innovation became a burden for companies since they only use inner sources. Companies have intended to use outer innovation sources to decrease the innovation costs and Open Innovation has become a new solution for companies at this point. Crowdsourcing is a tool of Open Innovation and it consists of two words: Outsourcing and crowd. Crowdsourcing aims to benefit from the efforts and ideas of a virtual crowd via Internet technologies. In addition to that, crowdsourcing can help entrepreneurs to innovate and grow their businesses. They can crowd source anything they can use to grow their businesses: Ideas, investment, new business, new partners, new solutions, new policies, data, insight, marketing or talent. Therefore, the aim of the study is to be able to show some possible ways for entrepreneurs to benefit from crowdsourcing to expand or foster their businesses. In the study, the term crowdsourcing has been given in details and these possible ways have been searched and given.

Keywords: crowdsourcing, entrepreneurship, innovation, open innovation

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Authors: E. Elgohary, R. Abdelazyz

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The research aims to clarify the effect of the marketing culture on improving the e-service quality for foreign and domestic information technology companies in the Arab Republic of Egypt. So the researcher sought to include the dimensions of the marketing culture, which are (customer service, management style, sales mission, internal communications, technology, wages and rewards, innovation) as measures of marketing culture for its effect on improving the e-service quality in this research. The research population consists of employees and customers of the companies under study. The research problem was the following question: What is the effect of the actual application of marketing culture on improving the e-service quality? To answer that, three main hypotheses were adopted, and they were tested by statistical means for the data collected through a questionnaire prepared and distributed for this purpose. Accordingly, the research presented a set of results, the most important of which are: the need to pay attention to the dimensions of the marketing culture to improve the e-service quality, foreign companies were the most popular companies in applying the marketing culture compared to local companies. The research also recommends designing a system to continuously measure the performance of electronic service providers and work on spreading the culture of innovation among employees, linking reward programs to the extent of commitment to applying the elements of marketing culture while doing business.

Keywords: marketing culture, e-service quality, measurement models, quality measurements

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Authors: Margarita Santi Becerra Santiago

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The following document addresses the descriptive analysis under the qualitative approach of resilient leadership that allows us to know the importance of the application of a new leadership model to face the new challenges within the gastronomic companies in Mexico. Likewise, to know the main factors that influence resilient leaders and companies to develop new skills to elaborate strategies that contribute to overcoming adversities and managing change. Adversities in a company always exist and challenge us to move and apply our knowledge to be competitive as well as to strengthen our work team through motivation to achieve efficiency and develop in a good organizational climate.

Keywords: challenges, efficiency, leadership, resilience skills

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Authors: Uzoma Emmanuel Igboji

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The study investigates the effects of cash flow position on corporate performance in the manufacturing sector of Nigeria, using multiple regression techniques. The study involved a survey of five (5) manufacturing companies quoted on the Nigerian Stock Exchange. The data were obtained from the annual reports of the selected companies under study. The result shows that operating and financing cash flow have a significant positive relationship with corporate performance, while investing cash flow position have a significant negative relationship. The researcher recommended that the regulatory authorities should encourage external auditors of these quoted companies to use cash flow ratios in evaluating the performance of a company before expressing an independent opinion on the financial statement. The will give detailed financial information to existing and potential investors to make informed economic decisions.

Keywords: cash flow, financing, performance, operating

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Authors: Radwan Hussien Alkebsee

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Under the argument that reputational costs deter firms from engaging in tax avoidance activities, this paper investigates the relationship between tax avoidance and forced CEO turnover. This study is based on a broad sample of Chinese listed companies spanning the period 2011 to 2018. The findings reveal that tax avoidance is positively associated with forced CEO turnover. This suggests that firms that engage in tax avoidance experience a high rate of leadership replacement. The findings also reveal that the positive association between tax avoidance and forced CEO turnover is pronounced for state-owned firms, firms with no political connections, and firms located in “more developed” regions with extensive tax enforcement action, while it is not for private firms, firms with political connections, and firms located in “less developed” regions with weak tax enforcement actions. The baseline results remain consistent and robust for endogeneity concerns.

Keywords: tax avoidance, CEO turnover, political connections, regional tax enforcement, China

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Authors: Asaiel Alohaly

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A theoretical framework for corporate governance is needed to bridge the gap between the corporate governance of private companies and State-owned Enterprises (SOEs). The two dominant models, being shareholder and stakeholder, do not always address the specific requirements and challenges posed by ‘hybrid’ companies; namely, previously national bodies that have been privatised bffu t where the government retains significant control or holds a majority of shareholders. Thus, an exploratory theoretical study is needed to identify how ‘hybrid’ companies should be defined and why the state model should be acknowledged since it is the less conspicuous model in comparison with the shareholder and stakeholder models. This research focuses on ‘the state model of corporate governance to understand the complex ownership, control pattern, goals, and corporate governance of these hybrid companies. The significance of this research lies in the fact that there is a limited available publication on the state model. The outcomes of this research are as follows. It became evident that the state model exists in the ecosystem. However, corporate governance theories have not extensively covered this model. Though, there is a lot being said about it by OECD and the World Bank. In response to this gap between theories and industry practice, this research argues for the state model, which proceeds from an understanding of the institutionally embedded character of hybrid companies where the government is either a majority of the total shares or a controlling shareholder.

Keywords: corporate governance, control, shareholders, state model

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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The integral role oil-crushing companies play in sunflower oil production is often overlooked to offer high-quality oil to refineries and end consumers. Sunflower oil crushing companies in South Africa are exposed to price fluctuations resulting from the local and international markets. Hedging instruments enable these companies to hedge themselves against unexpected prices spikes and to ensure sustained profitability. A crushing company is a necessary middleman, and as such, these companies have exposure to the purchasing and selling sides of sunflower. Sunflower oil crushing companies purchase sunflower seeds from farmers or agricultural companies that provide storage facilities. The purchasing price is determined by the supply and demand of sunflower seed, both national and international. When the price of sunflower seeds in South Africa is high but still below import parity, then the crush margins realised by these companies are reduced or even negative at times. There are three main products made by sunflower oil crushing companies, oil, meal, and shells. Profits are realised from selling three products, namely, sunflower oil, meal and shells. However, when selling sunflower oil to refineries, sunflower oil crushing companies needs to hedge themselves against a reduction in vegetable oil prices. Hedging oil prices is often done via futures and is subject to specific volume commitments before a hedge position can be taken in. Furthermore, South African oil-crushing companies hedge sunflower oil with international, Over-the-counter contracts as South Africa is a price taker of sunflower oil and not a price maker. As such, South Africa provides a fraction of the world’s sunflower oil supply and, therefore, has minimal influence on price changes. The advantage of hedging using futures ensures that the sunflower crushing company will know the profits they will realise, but the downside is that they can no longer benefit from a price increase. Alternative hedging instruments like options might pose a solution to the opportunity cost does not go missing and that profit margins are locked in at the best possible prices for the oil crushing company. This paper aims to investigate the possibility of employing options alongside futures to simulate different scenarios to determine if options can bridge the opportunity cost gap.

Keywords: derivatives, hedging, price risk, sunflower, sunflower oil, South Africa

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Authors: Peter Burggräf, Moritz Krunke, Hanno Voet

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Due to shortening product and technology lifecycles, many companies use standardization approaches in product development and factory planning to reduce costs and time to market. Unlike large companies, where modular systems are already widely used, small and medium-sized companies often show a much lower degree of standardization due to lower scale effects and missing capacities for the development of these standards. To overcome these challenges, the development of industry sector specific standards in cooperations or by third parties is an interesting approach. This paper analyzes which branches that are mainly dominated by small or medium-sized companies might be especially interesting for the development of factory standards using the example of the German industry. For this, a key performance indicator based approach was developed that will be presented in detail with its specific results for the German industry structure.

Keywords: factory planning, factory standards, industry sector specific standardization, production planning

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Authors: Jami Wang, Brian Kao, Davin Agustines

Abstract:

COVID-19 highlighted the active discrimination against the Asian American population easily seen through media, social tension, and increased crimes against the specific population. It is well known that long-term racism can also have a large impact on both emotional and psychological well-being. However, the healthcare disparity during this time also revealed how the Asian American community lacked the research data, political support, and medical infrastructure for this particular population. During a time when Asian American fear for safety with decreasing mental health, telepsychiatry is particularly promising. COVID-19 demonstrated how well psychiatry could integrate with telemedicine, with psychiatry being the second most utilized telemedicine visits. However, the Asian American community did not utilize the telepsychiatry resources as much as other groups. Because of this, we wanted to understand why the patient population who was affected the most by COVID-19 mentally did not seek out care. To do this, we decided to study the top top telepsychiatry platforms. The current top telepsychiatry companies in the United States include Teladoc and BetterHelp. In the Teladoc mental health sector, they only had 4 available languages (English, Spanish, French, and Danis,) with none of them being an Asian language. In a similar manner, Teladoc’s top competitor in the telepsychiatry space, BetterHelp, only listed a total of 3 Asian languages, including Mandarin, Japanese, and Malaysian. However, this is still a short list considering they have over 20 languages available. The shortage of available physicians that speak multiple languages is concerning, as it could be difficult for the Asian American community to relate with. There are limited mental health resources that cater to their likely cultural needs, further exacerbating the structural racism and institutional barriers to appropriate care. It is important to note that these companies do provide interpreters to comply with the nondiscrimination and language assistance federal law. However, interactions with an interpreter are not only more time-consuming but also less personal than talking directly with a physician. Psychiatry is the field that emphasizes interpersonal relationships. The trust between a physician and the patient is critical in developing patient rapport to guide in better understanding the clinical picture and treating the patient appropriately. The language barrier creates an additional barrier between the physician and patient. Because Asian Americans are one of the largest growing patient population bases, these telehealth companies have much to gain by catering to the Asian American market. Without providing adequate access to bilingual and bicultural physicians, the current system will only further exacerbate the growing disparity. The healthcare community and telehealth companies need to recognize that the Asian American population is a severely underserved population in mental health and has much to gain from telepsychiatry. The lack of language is one of many reasons why there is a disparity for Asian Americans in the mental health space.

Keywords: telemedicine, psychiatry, Asian American, disparity

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Authors: Cynthia Oluchi Akagha

Abstract:

This paper highlights the increase in production cost and the corresponding outcomes in Nigeria using six major manufacturing companies as a case study. During an inflationary period, the cost-of-living increases, which reduces the purchasing power of money. Inflation has become a severe issue in many countries recently. To examine how inflation affects the success of businesses in Nigeria, a quantitative approach and a focus on causality were utilized to examine six (6) functional Nigerian manufacturing enterprises. The correlation between business production cost, cost of items supplied, and gross profit from 2021-2022 was analyzed. The analysis recorded that the cost of production increased in 2022 compared to 2021. The expansion varied between the six companies by 77.1%. Only one company out of six reported a decrease in gross profit in 2022 compared to the previous year. The other five companies' profits increased between 6.5% and 87%. Companies like these have thrived despite the rising cost of living because they have adjusted by increasing their product pricing. Since this change has the most significant influence on consumers, the best long-term reaction for a corporation to inflationary effects is often an improvement in cost efficiency, output, or both.

Keywords: economic meltdown, inflation, organization, performance

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