المؤلفون: Nanik Ermawati, Wiwiek Dianawati

المصدر: Intangible Capital, Vol 20, Iss 1, Pp 152-169 (2024)

مصطلحات موضوعية: woman board of commissioners (wboc), family ownership (fo), return on assets (roa), tobins’q (tq), firm performance (fp), indonesia stock exchange, General Works

الوصف: Purpose: The primary purpose of this study is to see the impact of the presence of a woman board of commissioners (WBoC) on firm performance (FP). In addition, this study looked at the effect of moderation of family ownership (FO) on the influence of WBoC on FP. Design/methodology/approach: This study used secondary data with a sample of all companies listed on the Indonesia Stock Exchange from 2017 to 2021. The study used a total of 788 observations. The data were analyzed using moderate regression analysis with unbalanced panel data. Findings: The results revealed that WBoC did not affect TQ and ROA. Empirical research shows that FO strengthens WBoC in increasing ROA and TQ. Research limitations/implications: In Indonesia, the portion of the representation of each company's woman board of commissioners is only one member on average at 78%. As many as 22% of companies with a board of commissioners are more or equal to 2 members. Practical implications: This study also serves as a guide for shareholders in selecting competent woman boards of commissioners for an effective supervisory system that drives the company's success. Originality/value: This study analyzes the impact of share ownership dominated by family companies on the relationship between the existence of a woman board of commissioners and firm performance. Therefore, this research is significant to understand the role of FO in helping women build leadership, gain recognition, and be empowered to improve firm performance.

وصف الملف: electronic resource

Relation: https://www.intangiblecapital.org/index.php/ic/article/view/2416; https://doaj.org/toc/1697-9818

URL الوصول: https://doaj.org/article/92bbad103ac64cec9dddaeb573164292

المؤلفون: Pilar Lloret Millan, Núria Arimany Serrat

المصدر: Intangible Capital, Vol 19, Iss 3, Pp 359-378 (2023)

مصطلحات موضوعية: accounting deception, accounting manipulation, accounting scandal, economic crisis, stock exchange crash, General Works

الوصف: Purpose: This work investigates the relationships between stock exchange crashes and accounting scandals. Design/methodology/approach: We analyze the main accounting scandals and stock exchange crashes that occurred between 1980 and 2020. Findings: First of all, it was verified that a stock market crash occurred in the years in which most of the accounting scandals took place (or within the next three years). This evidence is consistent with much of the previous literature. Second, an average of 5.4 years has been estimated as the period of time that elapses between the time a company starts engaging in accounting deception and the moment when it is discovered and the scandal breaks out. Third, it has been found that accounting deception is more likely to occur in years with stock market crashes and in the years immediately following. The literature review revealed no evidence supporting the two latter hypotheses. Research limitations/implications: This exploratory work has several limitations. First of all, only scandals that have been reported on websites in Spanish and English have been analyzed. Therefore, the sample may be biased, giving more weight to companies from Anglo-Saxon and Spanish-speaking countries. Second, the sample was made up of a small number of companies (53), which are those that have met the search criteria used. Practical implications: The findings of this work are relevant today, since a major stock exchange crash has occurred as a result of the coronavirus. Therefore, if the pattern of the most recent decades is repeated, it would be expected that more accounting scandals will come to light in the coming years. Social implications: The conclusions obtained are of great relevance for the different users of the financial information from companies, and also for auditors, consultants and supervisory bodies, since due to the stock exchange crash triggered by COVID-19, they will need to exercise extreme caution in the coming years in relation to financial information. Originality/value: The work provides evidence on the relationship between stock market crashes and accounting scandals, which is a highly relevant topic. The literature review revealed no study using the same methodology or a similar sample of companies.

وصف الملف: electronic resource

Relation: https://www.intangiblecapital.org/index.php/ic/article/view/2228; https://doaj.org/toc/1697-9818

URL الوصول: https://doaj.org/article/53cfddae2f6c46f5b6e086cc752a669a

المؤلفون: Rosa Fernández, Oscar Morales

المصدر: IDP, Vol 0, Iss 7 (2008)

مصطلحات موضوعية: crime policy, infringement, markets of financial tools, stock exchange, Law in general. Comparative and uniform law. Jurisprudence, K1-7720, Political science (General), JA1-92

الوصف: Ressenya de la jornada que va tenir lloc a la UOC, organitzada en col·laboració amb el despatx professional Uría Menéndez. La jornada va comptar amb la presència del Dr. Morales García, el Sr. Ruíz Bach, el Sr. Gómez Bermúdez i el Dr. Melchionda, que van analitzar la reforma de la normativa del mercat de valors com a conseqüència de la transposició al nostre ordenament jurídic del conjunt de directives relatives als mercats d'instruments financers (MiFID).

وصف الملف: electronic resource

Relation: https://idp.uoc.edu/articles/498; https://doaj.org/toc/1699-8154

URL الوصول: https://doaj.org/article/7ba6f214aad64eacbd42e20692f7a5d8

المؤلفون: Oriol Amat, María José García López, Alfredo Rocafort

المصدر: Intangible Capital, Vol 12, Iss 1, Pp 319-335 (2016)
UPCommons. Portal del coneixement obert de la UPC
Universitat Politècnica de Catalunya (UPC)
Intangible Capital; 2016: Vol.: 12 Núm.: 1

مصطلحات موضوعية: Value (ethics), Organizational Behavior and Human Resource Management, Ethical code, Listed companies, Spanish companies, Ethics, Sustainability, Index (economics), Ètica empresarial -- Espanya, Strategy and Management, media_common.quotation_subject, Spanish companies, lcsh:A, 0603 philosophy, ethics and religion, Education, Ethical code, Stock exchange, Originality, Management of Technology and Innovation, Accounting, Perception, 0502 economics and business, Economics, Business and International Management, Marketing, media_common, Ethics, business.industry, Economia i organització d'empreses::Microeconomia::Empreses [Àrees temàtiques de la UPC], Self, 05 social sciences, Listed companies, 06 humanities and the arts, Public relations, Sustainability, Corporate social responsibility, 060301 applied ethics, lcsh:General Works, business, Business ethics -- Spain, 050203 business & management

الوصف: Purpose: This article aims to research into the perception that companies have of their ethical behavior. Design/methodology/approach: A questionnaire was conducted in June 2014 among the listed companies that comprise the IBEX35 index of Spanish stock exchanges. For the statistical analysis, contingency tables (double entry) were drawn up as well and several statistical tests (Cramer’s V, Pearson’s x2, Kendall’s correlation coefficient; and Goodman and Kruskal’s Gamma). Findings: The results show the self-perception that listed Spanish companies have of their ethical behaviour, with the observation that, generally, they have a greater perception than the reality of the study actually shows. Research limitations: Main limitations are that the sample size is small, although it includes the largest listed companies in the country. Respondents were essentially the Corporate Social Responsibility managers, so they may not be familiar with some of the subjects on which they were questioned, as we are dealing with large companies where responsibilities may be very compartmentalised. Practical implications: This line of research helps to know more about the self perception of big Spanish listed companies about their ethical behavior. Social implications: The evidence provided by this study helps to know more about aspects than can be improved in connection the ethical behavior in companies. Recent scandals make the topic very relevant from a social point of view. Originality/value: In recent years there has been much talk about the ethics of organisations and studies on the subject are plentiful. However, there has been scarcely any research into the perception that companies themselves have of their ethical behaviour.

وصف الملف: application/pdf; text/html

URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::874b78c7408b4e850ac3222171360afe
http://www.intangiblecapital.org/index.php/ic/article/view/699

المؤلفون: Kutlwano K. K. M. Ramaboa, Tai-Lin G. Chen

المصدر: Intangible Capital; 2017: Vol.: 13 Núm.: 2
UPCommons. Portal del coneixement obert de la UPC
Universitat Politècnica de Catalunya (UPC)
Intangible Capital, Vol 13, Iss 2, Pp 411-429 (2017)

مصطلحات موضوعية: Organizational Behavior and Human Resource Management, Financial economics, Intellectual capital--Economic aspects, Strategy and Management, Accounting, lcsh:A, Education, Empreses -- Investigació, Stock market returns, Empreses -- Valoració, Stock exchange, Management of Technology and Innovation, 0502 economics and business, Economia i organització d'empreses [Àrees temàtiques de la UPC], Economics, Intellectual capital--Valuation, Accounting treatment of R&D, Business and International Management, Emerging markets, Stock (geology), Capitalization, Valuation (finance), 040101 forestry, Glamour stocks, 050208 finance, Earnings, Stock market, business.industry, 05 social sciences, Value relevance, 04 agricultural and veterinary sciences, Intellectual capital, Accounting standards, Business enterprises - Valuation, 0401 agriculture, forestry, and fisheries, accounting standards, accounting treatment of R&D, glamour stocks, intellectual capital, stock market returns, value relevance, lcsh:General Works, Capital intel·lectual, Book value, business

الوصف: Purpose: The purpose of this research is to investigate the impact of capitalization of research and development on the valuation of equities for listed firms in South Africa. Design/methodology: 15 years of financial data (2000 to 2014) was collected, and portfolios with similar price-to-book and market size ratios were formed to find any evidence of any postinvestment excess returns and the association to the level of research and development investment. Portfolios were re-formed and annually ranked by their research and development intensity relative to sales. In addition, we looked at the changes in excess returns after adjusting the book value as a result of capitalizing R&D expenditure, to see if the distortion imposed by expensing R&D contributed to the under-valuation of firms that invest in R&D. Findings: The results indicate that firms that invest in research and development are systematically under-valued. We found no evidence of any positive association between the post-investment excess returns and investment levels, but rather found evidence of the glamour stock phenomenon in highly intensive research and development firms. Research limitations/implications: The sample data is limited to listed firms in South Africa, and for firms with intermittently omitted R&D on their financial report, we have assumed that such expenditure is zero for the non-disclosed period for the purpose of capitalization and amortisation. Listed firms whose main focus is on building intangible assets, are relatively few, hence our research is descriptive in nature. Practical implications: This paper highlights the commercial significance of valuing the longterm benefits of research and development. Capitalizing the development phase as afforded by the IASB lacks standardization, and as such, inconsistencies arise in the earnings reflected on companies’ financial statements. For investors though, highly intensive R&D firms should be avoided as these earn negative returns. Originality/value: The authors are not aware of any studies showing the effect of accounting rules on research and development that have been conducted in South Africa, or any research that have shown the glamour stock phenomena when investigating the impact of capitalization of research and development. Thus our contribution was to provide evidence on the valuation of stocks for listed firms that report research and development in South Africa that may be a result of the accounting rules. There is limited research on the accounting treatment of research and development in emerging markets, whose stock exchanges have been shown to not be highly correlated with the more developed markets, hence enables investors to diversify risk. This should motivate both managers and investors to venture beyond what the conservative accounting treatment of R&D has possibly instigated when valuing stocks.

وصف الملف: text/html; application/pdf

URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::118f5cc07c519eb3fe0e28396c988a16
http://www.raco.cat/index.php/Intangible/article/view/321333

المؤلفون: Mengjiao Tuo, Sen Wu, Deying Xiong

المصدر: Journal of Industrial Engineering and Management; 2015: Vol.: 8 Núm.: 2
Journal of Industrial Engineering and Management, Vol 8, Iss 2, Pp 383-398 (2015)
UPCommons. Portal del coneixement obert de la UPC
Universitat Politècnica de Catalunya (UPC)

مصطلحات موضوعية: Logarithm, lcsh:T55.4-60.8, Strategy and Management, Supply chain, Network structure, lcsh:Business, complex network, stock market, community structure, GN algorithm, Borsa de valors -- Anàlisi -- Xina, stock market, Industrial and Manufacturing Engineering, lcsh:Social Sciences, complex network, Stock exchange, ddc:650, Econometrics, lcsh:Industrial engineering. Management engineering, Business enterprises--China--Case studies, GN algorithm, Stock (geology), Stock exchanges--China--Shanghai, Economia i organització d'empreses::Economia regional [Àrees temàtiques de la UPC], lcsh:Commerce, Community structure, Empreses -- Anàlisi, lcsh:H, Commerce, lcsh:HF1-6182, Sistemes complexos, Capitalization-weighted index, Stock market, Business, community structure, lcsh:HF5001-6182

الوصف: Purpose: In order to investigate community structure of the component stocks of SSE (Shanghai Stock Exchange) 180-index, a stock correlation network is built to find the intra-community and inter-community relationship. Design/methodology/approach: The stock correlation network is built taking the vertices as stocks and edges as correlation coefficients of logarithm returns of stock price. It is built as undirected weighted at first. GN algorithm is selected to detect community structure after transferring the network into un-weighted with different thresholds. Findings: The result of the network community structure analysis shows that the stock market has obvious industrial characteristics. Most of the stocks in the same industry or in the same supply chain are assigned to the same community. The correlation of the internal stock prices’ fluctuation is closer than in different communities. The result of community structure detection also reflects correlations among different industries. Originality/value: Based on the analysis of the community structure in Shanghai stock market, the result reflects some industrial characteristics, which has reference value to relationship among industries or sub-sectors of listed companies.

وصف الملف: text/html; application/pdf

URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::f4eda12e1515804fa3fd266feca5e36f
http://www.raco.cat/index.php/JIEM/article/view/293318