Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
- Institution
- Keyword
-
- Finance (2)
- Hospitality Finance (2)
- Laffer curve (2)
- Accounting & Finance (1)
- Accrual anomaly (1)
-
- Acquisition (1)
- Africa (1)
- Anti-Money Laundering (1)
- Antitrust (1)
- Asset pricing models (1)
- Bank Loan Growth (1)
- Bank Ownership Structure (1)
- Banking (1)
- Banking uncertainty (1)
- Baumol effects (1)
- Baumol's cost disease (1)
- Bitcoin (1)
- Borsa Istanbul (1)
- Bowen effects (1)
- Bowen's revenue theory (1)
- Business (1)
- CAPM (1)
- Capital Budgeting (1)
- Capital Structure (1)
- Cash conversion cycle (1)
- Cash flow anomaly (1)
- Central bank independence (1)
- Characteristics of the Board of Commissioners (1)
- China (1)
- Chinese company data (1)
Articles 1 - 30 of 36
Full-Text Articles in Finance and Financial Management
Esg And Intellectual Capital Efficiency: Evidence From Asean Emerging Markets, Etikah Karyani, Muhamad Resa Perdiansyah
Esg And Intellectual Capital Efficiency: Evidence From Asean Emerging Markets, Etikah Karyani, Muhamad Resa Perdiansyah
Jurnal Akuntansi dan Keuangan Indonesia
This study aims to investigate the impacts of Environmental, Social, and Governance (ESG) in total and individual performance (“E”, “S”, and “G”) on firms’ intellectual capital (IC) efficiency. The Value-Added Intellectual Coefficient (VAIC) and Modified Value-Added Intellectual Coefficient (MVAIC) were used to measure IC efficiency. Meanwhile, the annual ESG index data from the ASEAN-4 were used to measure ESG from 2015 to 2020. The results show “E”, “S”, and “G” and total ESG positively affect firms’ efficiency in managing IC. In addition, the industry type moderates these relationships in terms of that banks have a greater influence than non-banks. Our …
Hotel Industry Performance In 2021-2022 And The Jhfm Index, Atul Sheel
Hotel Industry Performance In 2021-2022 And The Jhfm Index, Atul Sheel
Journal of Hospitality Financial Management
No abstract provided.
Hospitality Sector Revenues And Employment In The Eagle Ford Shale, 2010-2019, Javier Oyakawa
Hospitality Sector Revenues And Employment In The Eagle Ford Shale, 2010-2019, Javier Oyakawa
Journal of Hospitality Financial Management
By taking advantage of proprietary data from input- output tables’ time series and by using econometric methods, this study estimated job and output multipliers affecting the hospitality sector in Eagle Ford Shale (EFS) between 2010 and 2019. In 2019, in the EFS area, the hospitality sector, including the hotel and food subsectors, received 32.5% of its increased revenues from oil and gas activities when comparing the years 2019 and 2010. For each new job in the energy industry, the hospitality sector received between $10,185 and $12,744. In the same year, hotel subsector revenues due to oil and gas activities explained …
Financial Impact Of Nutrition Labeling For Restaurants, Mark S. Johnson
Financial Impact Of Nutrition Labeling For Restaurants, Mark S. Johnson
Journal of Hospitality Financial Management
Over the period 2006 to 2018 many attempts to institute food labeling in restaurants (FLR) have occurred. We examine the impact of federal FLR regulations on equity in the restaurant industry. We find no support for the idea that passage of federal FLR legislation directly altered firm value. However, Food and Drug Administration (FDA) rulemaking has had a positive effect on restaurants. The Federal rules are preemptory to state and local rules providing the industry with consistent, straightforward, rules across all jurisdictions. The preemptory aspect may reduce overall industry costs of regulation. We suggest that rule-making by the regulatory agency …
The Impacts Of Covid-19 On Capital Structure Determinants Of Hotel Real Estate Investment Trusts, Marcos Medeiros, Nan Hua, Youcheng Wang
The Impacts Of Covid-19 On Capital Structure Determinants Of Hotel Real Estate Investment Trusts, Marcos Medeiros, Nan Hua, Youcheng Wang
Journal of Hospitality Financial Management
Real Estate Investment Trusts (REITs) are responsible for more than seventy-five percent of the hotel ownership structure in the USA. The effects of COVID-19 restrictions on hotel REITs were devastating due to the unpredictability of revenues and cash flows, directly impacting managerial decisions on how to adapt REITs' capital structure quickly. This paper used quarterly hotel REIT financial data of the 18 most representative U.S. H-REITs from January 2015 through December 2020 to understand the moderating effects of COVID-19 on hotel REITs' capital structure determinants. Analyzing a panel data of 472 observations, this study found robust empirical evidence that confirms …
Working Capital Management Of Manufacturing Companies In Bangladesh: What Factors Make Significant Impact?, Sumaiya Zaman
Working Capital Management Of Manufacturing Companies In Bangladesh: What Factors Make Significant Impact?, Sumaiya Zaman
Journal of Global Business Insights
The paper aims to determine factors that make a significant impact on working capital management of a manufacturing company in Bangladesh. Of 221 service and manufacturing firms listed on the Dhaka Stock Exchange, 109 companies are chosen based on data availability for the five-year period 2014-2018. The study examines literature on working capital management and tests theory on manufacturing companies listed on the Dhaka Stock Exchange. Cash conversion cycle is used as a measurement of working capital efficiency. Financial ratios representing six aspects of company's financial performance are taken as explanatory variables. They represent company asset management, debt structure, growth, …
How To Create Cash Flows That Give A Priori Irrs?, Charlie Charoenwong, Xinxin Li, Chee K. Ng
How To Create Cash Flows That Give A Priori Irrs?, Charlie Charoenwong, Xinxin Li, Chee K. Ng
Southwestern Business Administration Journal
We illustrate algebraically the way to numerically derive the cash flows of an investment project yielding a set of desired IRRs. This is significant given the dearth of practice questions with the appropriate cash flow numbers, and their corresponding sign, in widely adopted Finance textbooks that will allow students to find multiple IRRs as learning exercises. The note serves to fill that void by allowing the readers to change the IRR inputs in an Excel spreadsheet and have the corresponding cash flows output ready for an assignment. Instructors can use the Excel codes to create different cash flows that yield …
Bank Ownership And Decline In Loan Growth Due To The Pandemic, Ruthana Bitia, Zuliani Dalimunthe
Bank Ownership And Decline In Loan Growth Due To The Pandemic, Ruthana Bitia, Zuliani Dalimunthe
The Indonesian Capital Market Review
This study aims to analyze the effect of bank ownership structure on loan growth before and during the pandemic. Specifically, we developed four models to capture different loan types provided in the Indonesian banking system; working capital, investment, consumer, and total loan growth. This study used 150 observations of commercial banks for 2019 (before the pandemic) and 2020 (during the pandemic). We conducted the regression method to test hypotheses. The main finding of this study was that foreign banks’ consumer credit growth significantly lower than domestic banks. Similar findings occurred for other types of loans, and this conclusion has controlled …
“Fiscal Trap”, The Case Of Greece, Titos Ritsatos
“Fiscal Trap”, The Case Of Greece, Titos Ritsatos
Southern University College of Business E-Journal
Present research aims at the introduction of the term “Fiscal Trap” in economic literature, as a comprehensive definition of the economic situation in which any available combination of fiscal-only policy measures (tax increases and austerity measures), would fail to fulfill fiscal targets during periods of recession. Using recent experience from the case of Greece, an ex-post evaluation of adopted policy effectiveness is pursued. Fiscal austerity and increased taxation enforced in Greece during the years 2009-2012, resulted in decreased tax revenues, lower GDP and increased debt-to-GDP ratio. In order to slip away from the vicious cycle generated by austerity and tax …
The Terrorist Laffer Curve:Rationality And Insurgency In Iraq, 2004-2008, Dennis S. Edwards
The Terrorist Laffer Curve:Rationality And Insurgency In Iraq, 2004-2008, Dennis S. Edwards
Southern University College of Business E-Journal
While the original framework by Arthur Laffer focused on tax rates and the resulting revenue from such taxation, the Laffer curve has been applied to other studies in behavior as well. This paper details evidence of a Laffer curve in Iraq with respect to terrorist violence and Iraqi public support of that violence against the U.S.-led coalition forces. As insurgents began killing more Iraqi citizens in their attacks on U.S.-led forces, the increased lethality caused initial support of such violence to erode. As a result, the high-level terrorist hierarchy has suggested that its operatives reduce lethality and indiscriminate bombings.
Biodiversity Disclosure Of Indonesian Companies And The Role Of The Board Of Commissioners, Ahmad Hambali, Desi Adhariani
Biodiversity Disclosure Of Indonesian Companies And The Role Of The Board Of Commissioners, Ahmad Hambali, Desi Adhariani
Jurnal Akuntansi dan Keuangan Indonesia
The environmental damage that occurs on a large scale has an impact on reducing biodiversity. Biodiversity has an important role that is useful for human life and plays a central role in economic development. This condition makes various parties aware of their role in preventing further damage. Companies, whether directly or indirectly, owe a great deal to the environment. This study seeks to examine the role of the Board of Commissioners as proxied by the size of the Board of Commissioners, the proportion of Independent Boards, and the proportion of women on the Board of Commissioners as a corporate governance …
Evaluating The Effectiveness Of Tax Objection Review In Indonesia’S Tax Authority, Yuli Trisnawati, Siti Nuryanah
Evaluating The Effectiveness Of Tax Objection Review In Indonesia’S Tax Authority, Yuli Trisnawati, Siti Nuryanah
Jurnal Akuntansi dan Keuangan Indonesia
An evaluation of the effectiveness of tax objection review by the Directorate General of Taxes (DGT) is required due to the increasing number of tax disputes that continue to litigation and a low winning rate for DGT in tax court (approximately 40%). This study aims to analyze the effectiveness of reviewing tax objections at DGT using Campbell's Effectiveness Theory (1989) with criteria of programs and goals success, program satisfaction, inputs and outputs conformity, and overall goal achievement. This is case study research with a qualitative method presented in a descriptive analysis. Data was collected through documentation, interviews, and satisfaction surveys. …
Central Bank Independence: An Examination Of Monetary And Economic Stability Through Ordinary And Extraordinary Times, Carroll Griffin, Yun Cheng
Central Bank Independence: An Examination Of Monetary And Economic Stability Through Ordinary And Extraordinary Times, Carroll Griffin, Yun Cheng
Southern University College of Business E-Journal
The idea of central bank independence (CBI) has been widely accepted over the last several decades by many countries around the world, both developed and developing. As such, many countries around the world granted autonomy to their central banks during the 1980s and 1990s. Although the majority of past studies have primarily examined the impact of central bank independence on inflation, there is only now sufficient date to empirically determine whether many of these claims are true. This study examines central bank independence over the long-term (1960 to 2015) to determine to what extent central bank independence has helped to …
Guess Who Is Not Using Mobile Money In Sub-Saharan Africa?, Aparna Gosavi
Guess Who Is Not Using Mobile Money In Sub-Saharan Africa?, Aparna Gosavi
Southern University College of Business E-Journal
Mobile money, which is a mobile-phone-based service, sends and/or receives money across a wide geographical area with just a touch of a mobile-phone button. This particular financial product was initially introduced in Kenya in the early part of 2007. Within the first six months of its introduction in Kenya, more than two million people enrolled for the service, partly because the utility emerged as a handy tool for urban migrants to send money back home to their families who resided in villages. This overwhelming response to the service was mainly because of its convenience, safety, and speed. Now, in Sub-Saharan …
Impairment Recognition And Revaluation– China Publicly Listed Companies, Ying Wang
Impairment Recognition And Revaluation– China Publicly Listed Companies, Ying Wang
Southern University College of Business E-Journal
The advent of SFAS 142 and IAS 36 regarding handling of asset impairment has spawned research into how these standards influence whether an impairment loss is recorded. Deferred tax items in China have three major components: temporary tax and financial reporting differences in depreciation; impairment losses; and previous losses, which can be carried forward for five years for tax purposes. While the temporary differences in depreciation typically defer taxes and create deferred tax liabilities, impairment losses and previous losses create deferred tax assets because they are not deductible in the current period for tax purposes. A deferred tax asset is …
Analysis Of The Comovement Of Unemployment In Midwestern States, Tammy Rapp Parker
Analysis Of The Comovement Of Unemployment In Midwestern States, Tammy Rapp Parker
Southern University College of Business E-Journal
The current paper investigates the interrelatedness of twelve Midwestern states through the comovement of unemployment rates. Due to their geographic location, we would anticipate similarities and comovement among macroeconomic variables. The results show that although most of the bivariate pairings do show a relationship. Five of the sixty-five pairings show no indication of cointegration among their unemployment rates. Each of these five pairings includes North Dakota. The paper investigates geographic and socioeconomic similarities between these states to try to explain these results.
Baumol And Bowen Cost Effects In Research Universities, Robert E. Martin
Baumol And Bowen Cost Effects In Research Universities, Robert E. Martin
Southern University College of Business E-Journal
We estimate cost models for both public and private research universities and use partial differentials from these models to estimate different cost effects. The results suggest both Baumol’s cost disease and Bowen’s revenue theory drive cost higher and that Bowen effects are larger than Baumol effects. Tight revenue since 2008 reversed some declines in productivity and accelerated the trend in economizing on the use of tenure track faculty. This behavior under loose and tight revenue constraints is consistent with Bowen’s revenue theory.
Credit Market Innovations And Gross Domestic Income, Ellis Heath
Credit Market Innovations And Gross Domestic Income, Ellis Heath
Southern University College of Business E-Journal
In this paper I compare the effects of different credit variables on real output in the US. However, instead of using real Gross Domestic Product as a proxy for real output, I use real Gross Domestic Income. I use a VAR framework with generalized impulse response functions and generalized variance decompositions. I look at a credit aggregate and different credit spreads. I find that shocks to some credit variables can have significant effects on real output; the reaction, however, is a temporary one. Specifically, measures of the risk premium and the term premium have the most importance in explaining innovations …
Tax Management, Ownership Structure And Corporate Governance, Ying Wang, Scott Butterfield
Tax Management, Ownership Structure And Corporate Governance, Ying Wang, Scott Butterfield
Southern University College of Business E-Journal
We use 2010-2018 publicly listed Chinese company data to analyze how ownership structure and corporate governance affects tax management. Our results indicate that diverse ownership structure might lower a company’s tax rates, whereas traditional corporate governance measures, such as board size, independent board member percentage and duality of CEO serving as chair do not affect tax.
2017 Tax Cuts And Corporate Investment And Financing Decisions: An Empirical Investigation, Rakesh Duggal
2017 Tax Cuts And Corporate Investment And Financing Decisions: An Empirical Investigation, Rakesh Duggal
Southern University College of Business E-Journal
The Tax Cuts and Jobs Act of 1917 (TCJA) amended the Internal Revenue Code of 1986 and significantly lowered the corporate tax rate, in addition to providing other tax incentives to spur corporate investments. The TCJA has the potential to impact corporate cash flows and corporate investment and financing decisions. In response to the TCJA, firms could enhance their capital expenditure budgets, return excess capital to shareholders, and/or hold excess capital for better opportunities in the future. Using S&P 500 firms as a sample, this study finds no statistical difference in the actual corporate taxes paid in the post-and pre-TCJA …
The Effect Of Franchising And Dividend Payments In The U.S. Restaurant Industry, Lan Jiang, Michael Dalbor
The Effect Of Franchising And Dividend Payments In The U.S. Restaurant Industry, Lan Jiang, Michael Dalbor
Journal of Hospitality Financial Management
The purpose of this research is to understand the effect of franchising and dividend payments in the restaurant industry. To be specific, this study tried to assess whether franchising and dividend payments improve financial performance in restaurant firms, and whether restaurant firms that both engage in franchising and pay dividends can achieve superior returns to those firms that only do one or the other. Data was collected using Compustat from 2011–2020, a total of 94 restaurants with 600 firm year observations were included in the sample. The results of this study suggested that franchising and dividend payments each enables restaurant …
Conditions For Increased Fraud Risk: A Case Study By Restaurant Segment, Elizabeth A. Yost
Conditions For Increased Fraud Risk: A Case Study By Restaurant Segment, Elizabeth A. Yost
Journal of Hospitality Financial Management
Risk factors leading to fraud is an important issue for restaurant operators. This paper identifies and evaluates the financial and non-financial characteristics of different restaurant segments through the lens of the fraud triangle. Using probit modeling and time series data from 2004 to 2014, it investigates different factors that significantly impact the increased risk of fraud in four types of restaurant segments—quick service, fast casual, casual dining, and fine dining. As such the findings of this study provide a better understanding of internal and external risk factors leading to increased fraud in the restaurant industry.
2021-2022 Restaurant Industry Performance And The Jhfm Index, Atul Sheel
2021-2022 Restaurant Industry Performance And The Jhfm Index, Atul Sheel
Journal of Hospitality Financial Management
No abstract provided.
Hedonic Price Analysis Of Hotel Rooms In Cyprus, Pandelis Mitsis
Hedonic Price Analysis Of Hotel Rooms In Cyprus, Pandelis Mitsis
Journal of Hospitality Financial Management
The aim of the current study is to investigate which attributes or characteristics have significant effects on the hotel room prices in Cyprus. The author follows a hedonic price analysis approach and employs a data set consisting of 92 hotels, collected from a private tourist agent. The empirical findings indicate that hotel star rating, spa facilities, playgrounds, table tennis activities and proximity to a bus station have all significant effects on the hotel room prices, in both the summer and the winter seasons. Contrary, air-conditioning, direct-dial telephone and the presence of tennis court and indoor pool amenities affect the room …
Human Resource Allocations For Independent Hotels Under Uncertainty: Fuzzy Goal Programming Approach, Di Wu, Yong Choi, Seunghee Wie
Human Resource Allocations For Independent Hotels Under Uncertainty: Fuzzy Goal Programming Approach, Di Wu, Yong Choi, Seunghee Wie
Journal of Hospitality Financial Management
Human Resource (HR) allocation for independent hotels is critical, especially during and after the pandemic because labor costs account for a large portion of operating expenses in lodging businesses. An effective HR allocation can therefore be critical for minimizing costs and, at the same time, for improving profitability and making financial management more efficient. This study focuses on fuzzy goal programming models covering both linear and quadratic cases to study HR allocation issues for independent hotels as linear programming models are often limited to handle multiple objective HR allocation problems. The applications illustrated in this research can be fully utilized …
Using Acquisitions As A Growth Strategy From Single Concept To Multiple Concepts: A Case Study, Francis A. Kwansa, Eliza Ching-Yick Tse
Using Acquisitions As A Growth Strategy From Single Concept To Multiple Concepts: A Case Study, Francis A. Kwansa, Eliza Ching-Yick Tse
Journal of Hospitality Financial Management
From the day a business is conceived, it is constantly faced with numerous strategic challenges that have impact on its survival, success, and/or failure. Many independent businesses fail within the first three years. For the ones that survive and prosper, they may remain as independents, private and or family businesses, while some transform into corporations and even become publicly traded entities. We use FAT Brands as a case study to examine the evolution of a company from a single restaurant concept and expanding by diversifying into a multi-concept and publicly traded corporation. Internal and external factors such as the impact …
Employee-Friendly Practices And Innovation, Saeyoung Chang, Hoje Jo, Jo-Ellen Pozner
Employee-Friendly Practices And Innovation, Saeyoung Chang, Hoje Jo, Jo-Ellen Pozner
The Journal of Entrepreneurial Finance
We examine the inter-relationships among employee-friendly policies (EFP), innovation through R&D investment, and firm value. We hypothesize that firms with higher levels of innovation and entrepreneurial spirit are more likely to utilize EFP. Furthermore, we speculate that the value-EFP association is more pronounced in firms with high R&D intensity. Consistent with these assertions, we find that EFP is significantly and positively related to R&D investment and the number of patents. EFP is also associated with increased firm value at high levels of R&D investment and high numbers of patents. Furthermore, we find that firms investing more in R&D are more …
Fintech And Anti-Money Laundering Regulation: Implementing An International Regulatory Hierarchy Premised On Financial Innovation, Nicholas A Roide
Fintech And Anti-Money Laundering Regulation: Implementing An International Regulatory Hierarchy Premised On Financial Innovation, Nicholas A Roide
Texas A&M Law Review
Innovations in financial technology (“fintech”) have rippling effects across global markets. Fintech firms utilizing virtual assets and disintermediating blockchain technology continue to rapidly grow in strength and number. As systemic risk mounts due to the inter-jurisdictional nature of fintech, antimony laundering (“AML”) regulators must search for an international answer to maintain global financial stability and protect consumers against illicit activities. A variety of solutions have appeared within local AML regulatory frameworks. These frameworks tend to function as a hierarchy with three ordered objectives: market integrity, rule clarity, and innovation. However, frameworks often place too much emphasis on market integrity and …
Uncertainty And Banks’ Security Holdings, Van Dan Dang, Hoang Chung Nguyen
Uncertainty And Banks’ Security Holdings, Van Dan Dang, Hoang Chung Nguyen
The Indonesian Capital Market Review
The paper enriches the existing literature on financial intermediaries’ operations in the face of uncertainty by empirically examining the impact of banking uncertainty on banks’ security holdings. Using bank-level data in Vietnam during 2007–2019 to compute a micro uncertainty proxy based on the dispersion of bank shocks, we document that banking uncertainty tends to enhance total security holdings at banks. Decomposing aggregate securities into disaggregate components, we find that safer investments (including government bonds and financial institution bonds) dominate the overall impact of banking uncertainty on security holdings, which completely offset a drop in the volume of riskier investments (including …
The Impact Of Geopolitical Risk On Corporate Investment: Evidence From Turkish Firms, Omer Faruk Tan, Hakan Cavlak, Yasin Cebeci, Necati Güneş
The Impact Of Geopolitical Risk On Corporate Investment: Evidence From Turkish Firms, Omer Faruk Tan, Hakan Cavlak, Yasin Cebeci, Necati Güneş
The Indonesian Capital Market Review
This study analyzes the effects of geopolitical risk on the corporate investment of 164 Turkish manufacturing firms listed in Borsa Istanbul (BIST). The time covers the period from 2005 to 2019, applying the system Generalized Methods of Moments (GMM) estimator. The results indicate that geopolitical risk hurts corporate investment in Turkey. Under uncertainty induced by geographical risk, firms prefer to decline their investment. Additionally, financially constrained (non-dividend, small, young) firms are more negatively affected than financially unconstrained firms. Our findings are robust under alternative measures of geopolitical risk. Overall, this study reveals that geopolitical risk is a significant uncertainty affecting …