Search results for: parent firm performance

Authors: Tim Vollmer, Andrea Greven, Malte Brettel

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Family firms represent the predominant business structure worldwide, accounting for 90 percent of all operational businesses. These firms are essential to society and the economy. In the past decade, family firm exits increased by 72%; and in the next five years, 95,000 German family firms will be sold, acquired, or liquidated. For family firms, socioemotional wealth represents the frame of reference and value to preserve when making decisions. Family firm exits threaten the socioemotional wealth, as in extreme scenarios, economic logic may take over. So, a dilemma arises: Maintaining socioemotional wealth versus pursuing financial wealth. Family firm researchers agree that family involvement leads to specific goals, behaviors, and outcomes. For instance, the desire to protect socioemotional wealth when selling the firm and the focus on particular exit success dimensions, depending on the family's role inside the firm. However, despite the regularity of family firm exits, there is little research on the effect of family involvement on the family firm CEOs' perceived exit performance. We investigate the family firm CEOs' perceived exit performance, which we call exit success. Considering the deficiencies in the literature, we identify two research gaps. First, it remains unclear how family involvement affects the dimensions of exit success. Hence, we provide evidence of which success dimensions matter most depending on the family's involvement and how to differentiate successful from unsuccessful exits. Second, prior work has analyzed family involvement in the socioemotional wealth context but found contradictory findings. This work considers, for example, the family generation in control and identifies the tipping point of economic objectives becoming preferable over socioemotional wealth-related goals. This paper theorizes and empirically investigates, through the lens of socioemotional wealth and conflict theory, how socioemotional wealth mediates the relationship between family involvement and family firms' exit success. We analyze family firms' exit success dimensions of personal financial benefits, personal reputation, employee benefits, and firm mission persistence. Family involvement considers the family firms' heterogeneity in ownership, management, and generation. We use a quantitative approach in the form of an online survey by drawing on 116 responses from former family firm CEOs'. This study highlights that socioemotional wealth mediates the relationship between the dimensions of family involvement and exit success. The greater socioemotional wealth, the greater the family firm CEOs focus on the pro-organizational exit success dimensions of employee benefits and firm mission persistence. In contrast, the self-regarding dimension of personal financial benefits is significantly negatively affected. An important finding is that later generations and the number of family managers involved significantly negatively affect the two pro-organizational dimensions of exit success. Family ownership does not show any significant effect. Our work widens implications for research, theory, and practice by contributing in two meaningful ways. First, our results offer insights to differentiate successful from unsuccessful family firm exits and provide evidence of which success dimensions matter and which to focus on, most dependent on the family's role inside the firm. Second, our article advances research and empirical understanding of family firms and socioemotional wealth by clarifying contradictory findings.

Keywords: exit success, family firm exit, perceived exit performance, socioemotional wealth

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Authors: Nam-Phuong T. Hoang, Divna Haslam, Matthew Sanders

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Parenting psychological control (PPC) is a parenting manner of which intrusive tactics such as guilt induction, shaming or love withdrawal is adopted to manipulate the child's behavior, emotion and beliefs. PPC has been widely reported to be associated with both psychological dysfunction and low self-esteem in adolescents. Highly demanding and restrictive parenting was also found to related to high rate of risk behaviors, depression, anxiety and anti-social behaviors in adults who co-live with their parents. In many cultures like that of Asia, adults keep on co-live with their parents even after having their own families, and this is not an uncommon practice. Due to the culture obligation of family relationship and the filial piety, children are expected to stay with their parents to taking care of them when they get older, and the parents are also expected to co-live with their children in order to support them with grandchild care. As one become a grandparent, however, it does not means one stop being the parent to their own child. The effect of PPC if exist thus might continue to interfere one’s relationship with their adult children and also their adult child’s parenting. This study was designed to examine that effect of PPC on adults’ life as parents. Data was collected from 501 Vietnamese parents whose children between the age of 2 to 12 and having their parent living with them or taking care of the grandchild on daily basic. Findings show that grandparent psychological control (GPPC) is significantly associated with parent’s harsh parenting, parent’s well-being, and parent-grandparent coparenting relationship. Significantly, GPPC is the strongest predictor for the coparenting conflict between parent and grandparent.

Keywords: parenting psychological control, grandparent, coparenting, well-being

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Authors: Jonghae Park, Daesung Kim

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The impact of aggressive and conservative working capital‘s strategies on the value and profitability of the firms has been evaluated by applying the panel data regression analysis. The control variables used in the regression models are natural log of firm size, sales growth, and debt. We collected a panel of 13,988 companies listed on the Korea stock market covering the period 2000-2016. The major findings of this study are as follow: 1) We find a significant negative correlation between firm profitability and the number of days inventory (INV) and days accounts payable (AP). The firm’s profitability can also be improved by reducing the number of days of inventory and days accounts payable. 2) We also find a significant positive correlation between firm profitability and the number of days accounts receivable (AR) and cash ratios (CR). In other words, the cash is associated with high corporate profitability. 3) Tobin's analysis showed that only the number of days accounts receivable (AR) and cash ratios (CR) had a significant relationship. In conclusion, companies can increase profitability by reducing INV and increasing AP, but INV and AP did not affect corporate value. In particular, it is necessary to increase CA and decrease AR in order to increase Firm’s profitability and value.

Keywords: working capital, working capital management, firm value, profitability

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Authors: Manmeet Kaur, Madhu Vij

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The Board of Directors in a firm performs the primary role of an internal control mechanism. This Study seeks to understand the relationship between internal governance and performance of banks in India. The research paper investigates the effect of board structure (proportion of nonexecutive directors, gender diversity, board size and meetings per year) on the firm performance. This paper evaluates the impact of corporate governance mechanisms on bank’s financial performance using panel data for 28 listed banks in National Stock Exchange of India for the period of 2008-2014. Returns on Asset, Return on Equity, Tobin’s Q and Net Interest Margin were used as the financial performance indicators. To estimate the relationship among governance and bank performance initially the Study uses Pooled Ordinary Least Square (OLS) Estimation and Generalized Least Square (GLS) Estimation. Then a well-developed panel Generalized Method of Moments (GMM) Estimator is developed to investigate the dynamic nature of performance and governance relationship. The Study empirically confirms that two-step system GMM approach controls the problem of unobserved heterogeneity and endogeneity as compared to the OLS and GLS approach. The result suggests that banks with small board, boards with female members, and boards that meet more frequently tend to be more efficient and subsequently have a positive impact on performance of banks. The study offers insights to policy makers interested in enhancing the quality of governance of banks in India. Also, the findings suggest that board structure plays a vital role in the improvement of corporate governance mechanism for financial institutions. There is a need to have efficient boards in banks to improve the overall health of the financial institutions and the economic development of the country.

Keywords: board of directors, corporate governance, GMM estimation, Indian banking

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Authors: Hussain Bohra, Pradyuman Sharma

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This study highlights the significance of Balance Sheet Indicators on the corporate performance in the case of Indian manufacturing companies. Balance sheet indicators show the actual financial health of the company and it helps to the external investors to choose the right company for their investment and it also help to external financing agency to give easy finance to the manufacturing companies. The period of study is 2000 to 2014 for 813 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test and Hausman test results proof the suitability of the fixed effect model for the estimation. Return on assets (ROA) is used as the proxy to measure corporate performance. ROA is the best proxy to measure corporate performance as it already used by the most of the authors who worked on the corporate performance. ROA shows return on long term investment projects of firms. Different ratios like Current Ratio, Debt-equity ratio, Receivable turnover ratio, solvency ratio have been used as the proxies for the Balance Sheet Indicators. Other firm specific variable like firm size, and sales as the control variables in the model. From the empirical analysis, it was found that all selected financial ratios have significant and positive impact on the corporate performance. Firm sales and firm size also found significant and positive impact on the corporate performance. To check the robustness of results, the sample was divided on the basis of different ratio like firm having high debt equity ratio and low debt equity ratio, firms having high current ratio and low current ratio, firms having high receivable turnover and low receivable ratio and solvency ratio in the form of firms having high solving ratio and low solvency ratio. We find that the results are robust to all types of companies having different form of selected balance sheet indicators ratio. The results for other variables are also in the same line as for the whole sample. These findings confirm that Balance sheet indicators play as significant role on the corporate performance in India. The findings of this study have the implications for the corporate managers to focus different ratio to maintain the minimum expected level of performance. Apart from that, they should also maintain adequate sales and total assets to improve corporate performance.

Keywords: balance sheet, corporate performance, current ratio, panel data method

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Authors: Osman Zorbaz, Selen Demirtas-Zorbaz, Ozlem Ulas

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The factors that cause adolescents to drop out school were several. One of the frameworks about school dropout focuses on the contextual factors around the adolescents whereas the other one focuses on individual factors. It can be said that both factors are important equally. In this study, both adolescent’s individual factors (anti-social behaviors, academic success) and contextual factors (parent academic involvement, parent academic support, number of siblings, living with parent) were examined in the term of school dropout. The study sample consisted of 346 high school students in the public schools in Ankara who continued their education in 2015-2016 academic year. One hundred eighty-five the students (53.5%) were girls and 161 (46.5%) were boys. In addition to this 118 of them were in ninth grade, 122 of them in tenth grade and 106 of them were in eleventh grade. Multiple regression and one-way ANOVA statistical methods were used. First, it was examined if the data meet the assumptions and conditions that are required for regression analysis. After controlling the assumptions, regression analysis was conducted. Parent academic involvement, parent academic support, number of siblings, anti-social behaviors, academic success variables were taken into the regression model and it was seen that parent academic involvement (t=-3.023, p < .01), anti-social behaviors (t=7.038, p < .001), and academic success (t=-3.718, p < .001) predicted school dropout whereas parent academic support (t=-1.403, p > .05) and number of siblings (t=-1.908, p > .05) didn’t. The model explained 30% of the variance (R=.557, R2=.300, F5,345=30.626, p < .001). In addition to this the variance, results showed there was no significant difference on high school students school dropout levels according to living with parents or not (F2;345=1.183, p > .05). Results discussed in the light of the literature and suggestion were made. As a result, academic involvement, academic success and anti-social behaviors will be considered as an important factors for preventing school drop-out.

Keywords: adolescents, anti-social behavior, parent academic involvement, parent academic support, school dropout

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Authors: Zahid Ahmad, Samia Yousaf

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The main purpose of this study is to evaluate and assess the financial position, operating performance, and recent outlook of the companies. This study investigates the impact of capital structure, dividend policy and sustainability on the value of firms of textile spinning sector of Pakistan which is listed on Pakistan stock exchange. The panel data technique has been applied to this group of textile sector which is textile spinning. This study covers the last ten years of time period. All the data related to the variables have been collected from the annual reports and financial statements of the textile sector firms. There are differently related determinants to measure the capital structure which are fixed assets turnover ratio, debt ratio, equity ratio, debt to equity ratio, assets tangibility, and shareholder’s equity. Dividend policy is being measured by two determinants which are earning per share (EPS) and dividend payout ratio. Sustainability is being measured by three suitable factors which are sales growth, gross profit margin ratio and firm size. These are three independent variables and their determinants of this study. Value of firm is measured through the return on asset (ROA). Capital structure is at the top of the list among all the three variables. According to the results of this research work, somewhere all the three variables generates positive and significant effect on the firm’s performance and its growth.

Keywords: capital structure, dividend policy, panel data, sustainability

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Authors: Elanz Alimi, Mehdi Ghanadzade

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This current study compared the parents reported treatment and education priorities between verbal and nonverbal children with an autism spectrum disorder (ASD). Participants were 196 parents of 2 to 21-year-old (83 non-verbal and 113 verbal) children and adolescents with an ASD who completed questionnaires measuring parent’s treatment and education priorities, child’s educational and intervention programs and current child’s level of performance according to each skill. Results of this study indicated that parents of verbal children with autism spectrum disorder considered communication skills, community living skills and academic skills correspondingly as their highest intervention and education priorities and parents of non-verbal children with ASD reported communication skills, social relationship skills and self-care skills as the most significant priorities for their children. Findings show that for Iranian parents of both verbal and non-verbal children with ASD, communication skills are the most crucial treatment priority.

Keywords: autism, communication skills, Iran, parent’s priorities

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Authors: Mohammad Abu Nassar, Mahmoud Al Khalilah, Hussein Abu Nassar

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The purpose of this study is to examine whether corporate tax avoidance practices can impact firm value in the Jordanian context. The study employs a quantitative approach using s sample of (124) industrial and services companies listed on the Amman Stock Exchange for the period from 2010 to 2019. Multiple linear regression analysis has been applied to test the study's hypothesis. The study employs effective tax rate and book-tax difference to measure tax avoidance and Tobin's Q factor to measure firm value. The results of the study revealed that tax avoidance practices, when measured using effective tax rates, do not significantly impact firm value. When the book-tax difference is used to measure tax avoidance, the study results showed a negative impact on firm value. The result of the study has not supported the traditional view of tax avoidance as a transfer of wealth from the government to shareholders for industrial and services companies listed on the Amman Stock Exchange, indicating that Jordanian firms should not use tax avoidance strategies to enhance their value.

Keywords: tax avoidance, effective tax rate, book-tax difference, firm value, Amman stock exchange

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Authors: Selma R. Oliveira, E. W. Cazarini

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Recently, studies have referenced innovation as a key factor affecting the performance of firms. Companies make use of its innovative capacities to achieve sustainable competitive advantage. In this perspective, the objective of this paper is to contribute to innovation planning policies in industry 4.0. Thus, this paper examines the disruptive innovation capacity on firm performance in Europe. This procedure was prepared according to the following phases: Phase 1: Determination of the conceptual model; and Phase 2: Verification of the conceptual model. The research was initially conducted based on the specialized literature, which extracted the data regarding the constructs/structure and content in order to build the model. The research involved the intervention of experts knowledgeable on the object studied, selected by technical-scientific criteria. The data were extracted using an assessment matrix. To reduce subjectivity in the results achieved the following methods were used complementarily and in combination: multicriteria analysis, multivariate analysis, psychometric scaling and neurofuzzy technology. The data were extracted using an assessment matrix and the results were satisfactory, validating the modeling approach.

Keywords: disruptive innovation, capacity, performance, Industry 4.0

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Authors: Sewe Silvanus Odhiambo

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Globally, many governments have publicly recognized private security firms as essential services providers. The private security firms face a lot of challenges, but the COVID-19 situation also has exacerbated them to another level. This paper locates its relevance in the post-coronavirus era. The COVID-19 pandemic has redefined the world operation, which shows a higher impact on the security field. Accordingly, the purpose of the study was to examine the role of corporate governance on the performance of private security firms in a post-covid pandemic era in Kenya. The study employed a descriptive research design, which included a quantitative approach and secondary data. The study was carried in the month of July 2021 from the registered private security firms. After targeting all private security firms, only 54 firms had disclosed their annual report by the time of conducting the study. The results depicted that pandemic has affected the performance of private security firms measures unfavorably. Further, boards of directors show a positive association with security firm performance. The study recommends that there is need board of directors to enhance management’s risk assessments in the midst of COVID-19; ensure that there are business continuity plans; there is organizational resilience; there is need for the development of new digital strategies; enabling the digital workforce in the firms and have effective communication plans with both internal and external stakeholders to deal with uncertainties and develop more post-COVID practices for boards of directors to improve performance of private security firms in Kenya. The practical implications of the study are that the research outcomes might assist regulatory bodies, investors, policymakers, and the security sector in general in their formulation of public and corporate governance strategies concerning future emergency preparedness and responses. This study also provides a unique contribution to the literature of COVID-19 and security firm performance in emerging economies context.

Keywords: COVID-19, corporate governance, firm performance, private security firms

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Authors: I. Mahmood

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This survey was conducted to explore the hypothesis that excessive screen exposure combined with a subsequent decrease in parent-child interaction during infancy might be associated with autism. The main questions being asked are: Were children with autism exposed to long hours of screen time during the first 2 years of life? And what was the reason(s) for exposure at such an early age? Other variables were also addressed in this survey. An Arabic questionnaire was administered online (June 2019) via a Facebook page, relatively well-known in Arab countries. 1725 parents of children diagnosed with autism participated in this survey. Results show that 80.9% of children surveyed who were diagnosed with autism had been exposed to screens for long periods of time during the first 2 years of life. It can be inferred from the results of this survey that over-exposure to screens disrupt the parent-child interaction which is shown to be associated with ASD. The results of this survey highlight the harmful effects of screen exposure during infancy and the importance of parent-child interaction during the critical period of brain development. This paper attempts to further explore the connection between parent-child interaction and ASD, as well as serve as a call for further research and investigation of the relation between screens and parent-child interactions during infancy and Autism.

Keywords: attachment disorder, autism, screen exposure, virtual autism

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Authors: Denila Jinny Arulraj, Thillai Rajan Annamalai

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This paper aims to study the relationship between funding sources and firm performance of Indian private limited SMEs using cross-sectional data obtained from a nation-wide census. A unique feature of the study is that it analyses firms that use only one form of external funding. Employing Propensity Score Matching, we find that obtaining any form of external finance has a negative influence on equivalents of profit margin and return on assets and a negative influence on asset turnover of small firms. But, the impact of institutional sources of funding on small enterprises is found to be lesser than that of non-institutional sources of funding. External/institutional sources of funding have a less negative impact on the profit margin for medium enterprises and have no significant influence on other measures of performance. The contribution of this research is the discovery of institutional sources wielding a lesser influence on performance measures considered. It is also found that institutional sources can benefit small enterprises more than medium enterprises.

Keywords: external finance, institutional finance, non-institutional finance, performance, India, SME

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Authors: Sherry Junette Tagle

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Extensive research continues to prove the positive effects of home and school collaborations in education. Although parent involvement programs in Benguet, Philippines are in place, the impact has yet to affect the current aggregate performance of elementary pupils. This study describes the involvement of public elementary teachers and parents along Epstein’s types of involvement using the sequential explanatory design. Survey and interview results show that teachers place greater value on activities that cater to communicating, volunteering, learning at home and decision making. On the other hand, parents are actively involved in all six types and value the importance of their involvement in school to their child’s schooling. Parents of grades 1-4 pupils significantly give importance to communicating activities to offset difficulties encountered by young pupils while parents of grades 5-6 pupils, have declining interest in volunteering and learning at home activities citing older children as being more independent to do teacher-assigned tasks. Teachers, compared to the other respondent groups, significantly place higher value on the importance of parent leaders as their partners in implementing school activities. In general, involvement of parents and teachers in home-school activities is intensive in the lower grade levels and decreases as their child progresses through school. A recommended program for future collaborations of the Philippine’s Department of Education has been formulated to diversify existing activities and elicit greater participation among the school’s stakeholders to achieve holistic development of the pupils and ultimately improve pupils’ school aggregate performance.

Keywords: Epstein's types of involvement, community collaborations, home and school partnerships, parent involvement

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Authors: Khlif Hamadi

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The principal aim of our research is to analyze the impact of the adoption of e-management approach on the performance of Tunisian firms. The method of structural equation was adopted to conduct our exploratory and confirmatory analysis. The results arising from the questionnaire sent to 155 E-managers affirm that the adoption of e-management approach influences the performance of Tunisian firms. The results of the questionnaire show that e-management favors the deployment of ICT usage and contributes enormously to the performance of the modern enterprise. The theoretical and practical implications of the study, as well as directions for future research, are discussed.

Keywords: e-management, ICT Deployment, organizational performance, e-manager

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Authors: Matheus Borges Carneiro, Fabiane Leticia Lizarelli, José Carlos De Toledo

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The evolution of quality management by companies was strongly enabled by, among others, ISO 9001 certification, which is considered a crucial requirement for several customers. Likewise, performance measurement provides useful insights for companies to identify the reflection of their decision-making process on their improvement. One of the most used performance measurement models is the balanced scorecard (BSC), which uses four perspectives to address a firm’s performance: financial, internal process, customer satisfaction, and learning and growth. Studies related to ISO 9001 and business performance have mostly adopted a quantitative approach to identify the standard’s causal effect on a firm’s performance. However, to verify how this influence may occur, an in-depth analysis within a qualitative approach is required. Therefore, this paper aims to verify the impact of ISO 9001:2015 on Brazilian firms’ performance based on the balanced scorecard perspective. Hence, nine certified companies located in the Southeast region of Brazil were studied through a multiple case study approach. Within this study, it was possible to identify the positive impact of ISO 9001 on firms’ overall performance, and four Critical Success Factors (CSFs) were identified as relevant on the linkage among ISO 9001 and firms’ performance: employee involvement, top management, process management, and customer focus. Due to the COVID-19 pandemic, the number of interviews was limited to the quality manager specialist, and the sample was limited since several companies were closed during the period of the study. This study presents an in-depth analysis of how the relationship between ISO 9001 certification and firms’ performance in a developing country is.

Keywords: balanced scorecard, Brazilian firms’ performance, critical success factors, ISO 9001 certification, performance measurement

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Authors: Data Collete Bob-Manuel

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In light of global financial crisis in 2007-2008 various factors including board diversity, succession planning and board evaluation have been identified as essential ingredients in ensuring board effectiveness. The composition and structure of the board is of outmost importance in assessing a board’s ability and success in achieving its objectives. Following the corporate frauds and accounting scandals such as Enron, WorldCom, Parmalat, Oceanic Bank Nigeria and AfriBank Nigeria, there has been a notable amount of research about the effectiveness of the board of directors in the corporate governance of firms. The need to have an effective board cannot be over emphasized as it results in a more stable and thriving company. There has been an overarching need in the business world for a more diverse workforce and board of directors. Big corporations like Texaco, Ford Motors and DuPont have stated how diversity at every level of the workforce including the board of directors has been cited as a vital element for a company to succeed. Developed countries are also seeking for companies to have a more diverse board. For instance Norway has implemented a 60:40 board ratio to all companies. In West Africa, particularly Nigeria, the topic of diversity has received little attention as most studies conducted have focused on the gender aspect of diversity, which results found to have a negative impact on firm performance. This paper seeks to examine four variables of diversity; age, ethnicity, gender and skills to weigh the positive or negative impact the variables have on firm performance, based on evidence from the Nigerian Financial sector. Information used for this study will be gathered from financial statements and annual reports so as to enable the researcher to reflect on past years to know what is being done differently today. The findings of this study will help the researcher to develop a working definition for ethnicity with regards to the West African context where the issue of “tribe” is a sensitive topic.

Keywords: Board of Directors, Board Diversity, Firm Performance, Nigeria

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Authors: Adel Hashlan

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Parent and family engagement plays a crucial role in supporting the success of students with special needs in educational settings. This paper explores the significance of parental involvement in special education, examining its impact on academic achievement, social-emotional development, and overall well-being. Drawing on a review of current literature and empirical research, the paper highlights the benefits of meaningful collaboration between educators, parents, and families in promoting positive outcomes for students with diverse learning needs. The abstract begins by establishing the importance of parent and family engagement in special education, emphasizing its multifaceted impact on student success. It then outlines the key components of effective parent and family involvement initiatives, including communication strategies, collaboration frameworks, and partnership-building approaches. Additionally, the abstract addresses common barriers to parental involvement and explores strategies for overcoming these challenges, such as cultural responsiveness, accessibility, and empowerment. Furthermore, the abstract discusses the implications of parent and family engagement for educational policy and practice, emphasizing the need for systemic support and resource allocation to facilitate meaningful partnerships between schools and families. It concludes by underscoring the importance of ongoing research and professional development efforts to enhance the effectiveness of parent and family engagement initiatives in special education and maximize the potential for student achievement and well-being. Overall, this paper contributes to the growing body of literature on parent and family engagement in special education, providing insights into best practices, challenges, and opportunities for fostering collaborative partnerships that support the diverse needs of students with disabilities.

Keywords: special education, autism, parent, school

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Authors: Ndagi Salihu

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Corporate governance mechanisms are the control measures for ensuring that all the interests groups are equally represented and management are working towards wealth creation in the interest of all. Therefore, there are many empirical studies during the last three decades on corporate governance and firm performance. However, little is known about the effects of family ownership on the relationship between corporate governance and firm performance, especially in the developing economy like Nigeria. This limit our understanding of the unique governance dynamics of family ownership with regards firm performance. This study examined the impact of family ownership on the relationship between governance mechanisms and financial performance of publicly listed companies in Nigeria. The study adopted quantitative research methodology using correlational ex-post factor design and secondary data from annual reports and accounts of a sample of 23 listed companies for a period of 5 years (2014-2018). The explanatory variables are the board size, board composition, board financial expertise, and board audit committee attributes. Financial performance is proxy by Return on Assets (ROA) and Return on Equity (ROE). Multiple panel regression technique of data analysis was employed in the analysis, and the study found that family ownership has a significant positive effect on the relationships between corporate governance mechanisms and financial performance of publicly listed firms in Nigeria. This finding is the same for both the ROA and ROE. However, the findings indicate that board size, board financial expertise, and board audit committee attributes have a significant positive impact on the ROA and ROE of the sample firms after the moderation. Moreover, board composition has significant positive effect on financial performance of the sample listed firms in terms of ROA and ROE. The study concludes that the use of family ownership in the control of firms in Nigeria could improve performance by reducing the opportunistic actions managers as well as agency problems. The study recommends that publicly listed companies in Nigeria should allow significant family ownership of equities and participation in management.

Keywords: profitability, board characteristics, agency theory, stakeholders

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Authors: Shireen Simon

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This study explores the interactions between primary school parents-teachers in Malaysia. Schools in the country are organized to promote participation between parents and teachers. Exchanges of dialogue are most valued between parents and teachers because teachers are in daily contact with pupils’ and the first line of communication with parents. Teachers are considered by parents as the most important connection to improve children learning and well-being. Without a good communication, interaction or involvement between parent-teacher might tarnish a pupils’ performance in school. This study tries to find out multiple emotions among primary school parents-teachers, either estranged or cordial, when they communicate in a multi-cultured society in Malaysia. Important issues related to parent-teacher interactions are discussed further. Parents’ involvement in an effort to boost better education in school is significantly more effective with parents’ involvement. Lastly, this article proposes some suggestions for parents and teachers to build a positive relationship with effective communication and establish more democratic open door policy.

Keywords: multi-cultured society, parental involvement, parent-teacher relationships, parents’ interaction

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Authors: A. Binnui, O. Kalinowska-Beszczynska, G. Shaw

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It is postulated that innovative deployment of entrepreneurial activities leads to firm's growth. This paper draws upon the key predictions of the core theories on entrepreneurship and innovation to formulate a conceptual framework which can be used to depict the casual chain of events from which entrepreneurs can manage more innovatively and ultimately deliver higher growth which benefits of the regional and national economies. It examines the key firm-based factors extracted from the theories, namely the characteristics of entrepreneurial hi-tech firms, characteristics of innovating firms, and firm growth dynamics that lead to enhanced economic growth. The framework postulates that the key determinants extracted such as entrepreneurial demographics, firm characteristic, skills and competencies, research and development, product/service characteristics, market development, financial of the firm and internationalization might lead to the survival and long term development of high-technology startups.

Keywords: innovative entrepreneurial activities, entrepreneuship, determinants, growth, hi-technology start-upws

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Authors: Muhammad Shehu Garba

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The financial statements of the firms between the periods of 2013 and 2022 were collected using the secondary method of data collection, and the study aims to investigate the effect of ownership structure on the financial performance of listed industrial goods companies in Nigeria. 10 firms were used as the study's sample size. The study used panel data variables of the study. The ownership structure is measured with managerial ownership, institutional ownership and foreign ownership, while financial performance is measured with return on asset and return on equity; the study made use of control variables leverage and firm size. The result shows a multivariate relationship that exists between variables of the study, which shows ROA has a positive correlation with ROE (0.4053), MO (0.2001), and FS (0.3048). It has a negative correlation with FO (-0.1933), IO (-0.0919), and LEV (-0.3367). ROE has a positive correlation with ROA (0.4053), MO (0.2001), and FS (0.2640). It has a negative correlation with FO (-0.1864), IO (-0.1847), and LEV (-0.0319). It is recommended that firms should focus on increasing their ROA. Firms should also consider increasing their MO, as this can help to align the interests of managers and shareholders. Firms should also be aware of the potential impact of FO and IO on their ROA.

Keywords: firm size, ownership structure, financial performance, leaverage

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Authors: Leah Ritchie

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By many accounts, the most recent economic recession and subsequent lack-luster recovery has demonstrated that corporate social responsibility is in a state of crisis. This crisis represents an opportunity for CSR scholars to play a role in restoring long-term economic growth and consumer confidence. In its current state however, CSR may not be in a position to facilitate positive change. In an attempt to remain relevant, the field has shifted toward a performance-based agenda that demonstrates in practical terms, how CSR can positively affect the financial and strategic performance of the firm. This paper argues that if CSR is to play a central role in helping to create a more equitable balance of power between industry and society, it must demonstrate the symbiotic nature of the relationship between these two entities, not just in terms of compartmentalized strategic and financial gain for the firm, but also toward maintaining a 'do no harm' imperative. Given the evidence that harm done to society is ultimately turned back on the firm, this is not simply a moralistic imperative. In order to affect change, CSR must also create an activist agenda to raise consciousness among the general citizenry toward mobilizing, uncovering, and repairing breeches in the implicit social contract between business and society.

Keywords: corporate social responsibility, multiple stakeholder view, economic recession, housing crisis

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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: Shuai Yang, Bin Li, Sixing Chen

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Engaging and co-creating value with buyers (i.e., the buying organizations) have rapidly become a rising trend for sellers (i.e., the selling organizations) within Business-to-Business (B2B) environments, through which buyers can interact more with sellers and be better informed about products. One important way to achieve this is through engaging with buyers on social media, termed as brand engagement on social media, which provides a platform for sellers to interact with customers. This study addresses the research gap by answering the following questions: (1) Are B2B firms’ brand engagement on social media related to their firm value? (2) To what extent do analyst stock recommendations channel B2B firms’ brand engagement on social media’s possible impact on firm value? To answer the research questions, this study collected data merged from multiple sources. The results show that there is a positive association between seller-initiated engagement and B2B sellers’ firm value. Besides, analyst stock recommendations mediate the positive relationships between seller-initiated engagement and firm value. However, this study reveals buyer-initiated engagement has a counterintuitive and negative relationship with firm value, which shows a dark side of buyer-initiated engagement on social media for B2B sellers.

Keywords: brand engagement, B2B firms, firm value, social media, stock recommendations

Procedia PDF Downloads 286

Authors: Cedric Herring, Loren Henderson, Hayward Derrick Horton, Melvin Thomas

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This paper asks whether business startups benefit from having racially diverse founding ownership teams. Using nationally representative data from the Kauffman Firm Survey, the analysis examines the relationship between the racial diversity of the founding ownership teams of business startups and their net worth, revenue, debt, and profits. The analysis shows that, net of firm characteristics and human capital characteristics, startups with racially diverse founding teams have higher net worth, lower debt, and greater profits than their non-diverse counterparts. The racial diversity of ownership teams is not, however, related to startup firms’ revenues, net of other factors. The implications of these findings are explored.

Keywords: racial diversity, business startups, founding ownership teams, diversity and business performance

Procedia PDF Downloads 344

Authors: Fereshteh Darash

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Reflective tax management corresponds to the Agency Theory since it determines the motivation of managers for tax management actions and short-term and long-term consequences. Therefore, selection of tax strategy contributes to the tax and financial position of the firm in the future. The aim of the present research is to evaluate the effect of tax management components on risk-taking of firms listed in Tehran stock exchange by using regression analysis method. Results show that tax effective rate, tax risk and tax planning have no significant effect on the firm's future risk. Results suggest that stakeholders assess the effective tax rate and delay in tax payment in line with their benefits. They tend to accept the higher risk cost for reduction of tax payments and benefits of higher liquidity in current period. Hence, effective tax rate and tax risk have no significant effect on future risk of the firm. Moreover, tax planning yields no information regarding the predictability of the future profits and as a result, it has no significant effect on the future risk of the firm since specific goals of financial reporting are in priority for the stakeholders and regardless of the firm’s data analysis, they take investment decisions and they less intend to purchase the stocks in a rational manner.

Keywords: tax management, tax effective rate, tax risk, tax planning, firm risk

Procedia PDF Downloads 99

Authors: Wasiu Olaniyi, Ofelia Omitogun

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Hybridization has been of importance in both research and commercial aquaculture due to its benefits such as increased growth rate, sex ratio manipulation, production of sterile species and many other desirable economic traits. In this study, we successfully produced hybrids between crosses of Clariid catfish species of Clarias gariepinus and Heterobranchus bidorsalis for stock improvement. Milt and eggs from parent broodstock of C. gariepinus and H. bidorsalis were collected for both intrageneric and interspecific hybridization, viz: same parent species crosses (♀C. gariepinus ×♂C. gariepinus; ♀H. bidorsalis × ♂H. bidorsalis) and inter-specific crosses (♀H. bidorsalis × ♂C. gariepinus; ♀C. gariepinus × ♂H. bidorsalis). These crosses were made in triplicates whereby the data on latency period, fertility, hatchability, deformity, and survival were recorded. A phenotypic form of distinction was registered in the hybrid ♀C. gariepinus × ♂H. bidorsalis that was smooth-greyed while its reciprocal cross was marpatic. The parent species C. gariepinus had greyed-marpatic color while the H. bidorsalis was yellowish-brown. Fertility data revealed the significant difference (p < 0.05) between the hybrid cross ♀C. gariepinus × ♂H. bidorsalis (88.00 ± 1.00%) compared to its reciprocal ♀H. bidorsalis × ♂C. gariepinus (71.67 ± 10.41%) which further had carried over effects to hatchability. The reciprocal ♀H. bidorsalis × ♂C. gariepinus recorded the highest deformity (11.67 ± 3.06%) that was significantly different (p < 0.05) from the rest of the crosses. Also, an outcome of equal sex ratio in the hybrids compared with the two parent species was shown. Specific growth rate (SGR) data revealed highest significant difference (p < 0.05) in the hybrid ♀C. gariepinus × ♂H. bidorsalis (2.64 ± 0.09%), followed by the cross of ♀C. gariepinus × ♂ C. gariepinus (1.91 ± 0.02%) while there were no significant differences (p > 0.05) between the reciprocal hybrid ♀H. bidorsalis × ♂C. gariepinus (2.20 ± 0.57%) and ♀H. bidorsalis × ♂H. bidorsalis (2.19 ± 0.19%). The SGR analysis proved that the crosses ♀C. gariepinus × ♂C. gariepinus had slow growth performance compared to its hybrid ♀C. gariepinus × ♂H. bidorsalis. Critical evaluation based on survival and specific growth performance showed the superiority of the hybrid ♀C. gariepinus × ♂H. bidorsalis. The least survival in reciprocal hybrid ♀H. bidorsalis × ♂C. gariepinus (27.33%) can be explained by significant deformity (11.67%) recorded due to maternal effects. Hence, the survival of hybrid ♀C. gariepinus × ♂H. bidorsalis was better.

Keywords: aquaculture, hybridization, Clarias gariepinus, Heterobranchus bidorsalis

Procedia PDF Downloads 132

Authors: Kemalettin Eryesil, Osman Esmen, Aykut Beduk

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In this study, it has been studied to determine the relationship between business performance and strategic flexibility, which is defined to be the strategic choice that provides the ability of rapidly responding the changes of the dynamic environment of the companies, for having competitive advantages. In this context a field study has been conducted over 56 companies, which are active in informatics and electronics sectors in TEKNOKENT. As a result of the study it has been determined that; strategic flexibility has an effect on business performance and there is a positive and statistically significant relationship between strategic flexibility and business performance.

Keywords: sustainable competition advantage, strategic flexibility, firm performance, TEKNOKENT

Procedia PDF Downloads 344

Authors: Umang Varshney, Amit Karamchandani, Rohit Kapoor

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Practitioners and researchers have realized that Blockchain is not limited to currency. Blockchain as a distributed ledger can ensure a transparent and traceable supply chain. Due to Blockchain-enabled IoTs, a firm’s information management system can now take inputs from other supply chain partners in real-time. This study aims to provide empirical evidence of dimensions responsible for blockchain implemented firm’s growth and highlight how sector (manufacturing or service), state's regulatory environment, and choice of blockchain network affect the blockchain's usefulness. This post-adoption study seeks to validate the findings of pre-adoption studies done on the blockchain. Data will be collected through a survey of managers working in blockchain implemented firms and analyzed through PLS-SEM.

Keywords: blockchain, information management system, PLS-SEM, firm's growth

Procedia PDF Downloads 92