Business Commons^™

The Impact Of Government Subsidies On Ev Manufacturers, Connor Quinton

Senior Honors Theses

Government subsidies play a pivotal role in shaping the landscape of the electric vehicle (EV) industry in the United States. This research delves into the relationship between government support and the financial performance of EV manufacturers. This research aims to examine financial statements and market data to analyze the impact of government subsidies and incentives influence the revenue of EV manufacturers to provide a comprehensive understanding of the economic aspects of these policies on both individual companies and the EV sector as a whole. Beyond the financial aspects, this study will also address the ethical considerations associated with government support …

For Whom Does It Pay To Be A Moral Capitalist? Sustainability Of Corporate Financial Performance Of Esg Investment, Mariya Gubareva, Zaghum Umar, Tatiana Sokolova, Valentina Antonyuk

All Works

This paper analyzes the risk-return characteristics of socially responsible investing by employing a time-varying capital gain and Sharpe ratio analysis for various investment horizons. We employ the MSCI ESG (environmental, social and governance) leaders indices in ten markets encompassing Australia, Canada, Europe, Japan, UK, USA, China, India, Russia, and South Africa. Our sample ranges from 2007-2020. We document that ESG investments have very desirable return and hedging attributes for investors in these markets, and especially so in the USA and emerging markets.

A Sustainable Digital Ecosystem: Digital Servitization Transformation And Digital Infrastructure Support, Yan Chen, Zijin Wang, Jaime Ortiz

International Business and Entrepreneurship Faculty Publications and Presentations

While the notion of digitalization and sustainability has become prominent in current research, more can be done to bridge these two concepts and explain the interaction between them. Plenty of literature has focused on the impact of digital technology applications and business model innovations on environmental performance but has not considered the counterforce of environmental performance on digitalization. We investigated this question from the perspective of digital ecosystem architects to explore more organic relationships. By analyzing data from 1083 listed firms from 2014 to 2019, we found various effective paths for architects to participate in the digital ecosystem and determined …

Relative Corporate Social Performance And Cost Of Equity Capital: International Evidence, Benjamin Lynch, Martha O'Hagan-Luff

Articles

This research examines the relationship between firms' corporate social performance (CSP) and the implied cost of equity capital using a sample of 25,938 firm-year observation from 49 countries during the period from 2002 to 2021. Using estimates of the firms' ex ante cost of equity capital, we examine its relationship with industry-relative measures of the firms' CSP, its environmental and social pillars and sub-pillars. We find that increased overall CSP reduces a firm's cost of equity capital up until a point, beyond which the marginal benefits of further CSP investment decrease. We find that the social pillar is the main …

Exploring The Impact Of Employer Brand Attributes On Financial Performance: An Intellectual Capital Perspective, Vladimir Dženopoljac, Jasmina Ognjanović, Aleksandra Dženopoljac, Sascha Kraus

All Works

Purpose: The employer brand is a crucial intangible asset for companies as it enhances the employer–employee relationship, leading to improved employee performance and overall company outcomes. This paper aims to investigate the contribution of the employer brand to the financial results of companies in southern Europe. Design/methodology/approach: The sample consists of 266 companies operating in southern European countries during the year 2020. Secondary data on employer brand attributes, assessed from the perspective of current employees, were collected from the Glassdoor platform. Financial indicators were obtained from the companies' annual financial reports. The research hypotheses were tested using regression analysis. Findings: …

The Financials Of Water: The Case Of Maynilad And Manila Water, Junette A. Perez, Janrick Razon

Center for Business Research and Development

What is water? It is defined in the English Oxford Living Dictionaries as a colorless, transparent, odorless liquid that forms the seas, lakes, rivers, and rain and is the basis of the fluids of living organisms. The paper uses financial ratio analysis to examine the financial performance of the two dominant water and wastewater companies in Metro Manila. It attempts to appreciate how water and wastewater companies perform financially as they confront the complexities of operating an essential utility, water, and wastewater.

Analysis Of Maximization Strategy Intangible Assets Through The Speed Of Innovation On Knowledge-Driven Business Performance Improvement, I. Gusti Ayu Purnamawati, Ferry Jie, Puah Chin Hong, Gede Adi Yuniarta

Research outputs 2022 to 2026

This study aims to determine the effect of human capital, structural capital, and consumer capital on financial performance and moderate the speed of innovation. The type of research used in the study is quantitative—data collection techniques in distributing questionnaires measured using a Likert scale. The sampling technique used was random sampling and was determined by the slovin formula. The population in this study was MSMEs in Buleleng Regency, and the samples used in this study amounted to 392 MSMEs. Data or statistical analysis techniques in the study were considered using the Structural Equation Model with WarpPLS 5.0 software modelling. The …

The Impact Of Family Member Ceo Demographics On Entrepreneurial Orientation And Financial Performance In Family Firms, Jaly Vibeth Chea Menéndez

FIU Electronic Theses and Dissertations

Drawing on the upper echelons theory, this study investigates how entrepreneurial orientation is impacted by the family member CEO's demographic characteristics (age, gender, educational level, tenure, and generation) and how entrepreneurial orientation (innovativeness, proactiveness, and risk-taking) influences the family firm's financial performance. The model was empirically tested with survey data of 1314 family firms CEO respondents from 33 countries worldwide using data from the "Successful Transgenerational Entrepreneurship Practices Project" (STEP Project) applying Partial Least Squares analysis.

Moreover, it was considered the moderating effect of national culture (uncertainty avoidance and gender egalitarianism). The findings highlight no significant relation from any of …

Corporate Governance, Market Orientation And Performance Of Iran’S Upscale Hotels, Soheil Kazemian, Hadrian G. Djajadikerta, Jamaliah Said, Saiyidi Mat Roni, Terri Trireksani, Md Mahmudul Alam

Research outputs 2014 to 2021

Market orientation has been known as an efficient managerial tool to assist in sustaining the performance of organisations. Market orientation has three dimensions, namely customer orientation, competitor orientation and inter-function coordination. This paper evaluates how corporate governance influences the three dimensions of market orientation within Iran's upscale hotels. The impacts of the three dimensions of market orientation on the hotels' social and financial performance are also examined to determine if market orientation mediates the relationships between corporate governance and performance. Partial least squares structural equation modelling (PLS-SEM) is used to analyse the survey data collected from the executives of four- …

Company Financial Performance, Company Characteristics, And Environmental Disclosure: Evidence From Singapore, I. F. S. Wahyuningrum, S. Oktavilia, N. Putri, B. Solikhah, Hadrian Djajadikerta, E. Tjahjaningsih

Research outputs 2014 to 2021

© 2021 IOP Conference Series: Earth and Environmental Science A company disclosed its environmental disclosure by providing its annual report and sustainability report as a responsibility to society and the environment. This study aims to examine the factors that influence environmental disclosure, consisting of profitability, leverage, company size, industry type and company age. Legitimacy theory and stakeholder theory are used in this study. The population in this study is industrial companies listed on the Singapore Exchange (SGX) in 2018. Purposive sampling is used as a sampling method in order to obtain 61 companies. Multiple linear analysis was used to test …

Accountability Via Social And Financial Performance Of The Hospitality Sector: The Role Of Market Orientation, Soheil Kazemian, Hadrian G. Djajadikerta, Saiyydi Mat Roni, Terri Trireksani, Zuraidah Mohd-Sanusi

Research outputs 2014 to 2021

Purpose This study aims to examine the three dimensions of market orientation, namely, customer orientation, competitor orientation and inter-function coordination, which influence the accountability in the financial and social performance of tourism operators in large touristic cities. Design/methodology/approach In total, 95 usable questionnaires as the required data were collected from the top managers of four- and five-star hotels in Iran. Findings Partial least squares (PLS) results confirm that customer orientation and inter-function coordination influence both the financial and social performance of the hospitality sector yet reveal that competitor orientation has no significant relationship with social performance. Research limitations/implications These findings …

Do Environmental And Financial Performances Affect Environmental Disclosures? Evidence From Listed Companies In Indonesia, Indah Fajarini Sri Wahyuningrum, Mochamad Arief Budihardjo, Fadel Iqbal Muhammad, Hadrian Geri Djajadikerta, Terri Trireksani

Research outputs 2014 to 2021

© 2020 by author(s) and VsI Entrepreneurship and Sustainability Center. The number of companies in Indonesia that have participated in environmental-related activities continues to grow. Some of these companies have also engaged and implemented an assessment program called Program for Pollution Control, Evaluation, and Rating (PROPER). This assessment program was initially launched by the Indonesian Ministry of Environment in 1995 to measure and rate the environmental performance of companies in Indonesia. They have also administered an environmental management system as part of their environmental protection initiatives. However, the level of environmental disclosure by these companies is still low. This may …

Governance Structure And Performance Of Private Family Firms, Tarun Mukherjee, Vighneshwara Swami, Wei Wang

Business Faculty Publications

A debate exists on the issue of whether a governance system is value additive or even necessary for a privately-held firm. One side of the debate suggests that, since agency problems do not exist in a small private firm, it does not need a costly governance system. The other side argues that a private firm indeed faces agency costs in the form of altruism and, therefore, could extract net gains from a governance system. In this paper, we empirically investigate whether a good governance system crates or destroys value of private family firms. We first demonstrate that a multifamily firm …

Beyond Personal Control: When And How Executives' Beliefs In Negotiable Fate Foster Entrepreneurial Orientation And Firm Performance, Evelyn W. M. Au, Xin Qin, Zhi-Xue Zhang

Research Collection School of Social Sciences

Negotiable fate, the belief that fate imposes boundaries within which personal actions can shape outcomes, is rooted in Chinese collective wisdom. This belief is hypothesized to prompt executives to use of available resources to create opportunities by directing their attention to controllable aspects of unpredictable environments. Thus, executives' endorsement of negotiable fate beliefs is expected not only to enhance firm-level entrepreneurial orientation, but also to positively predict firm innovation and financial performance. We further expect these mediation effects to be stronger under dynamic environments. Studies of top executives in China support the theorized moderated-mediation model. By providing evidence for its …

Corporate Social Responsibility: An Overview And New Research Directions: Thematic Issue On Corporate Social Responsibility [From The Editors], Heli Wang, Li Tong, Rikki Takeuchi, Gerard George

Research Collection Lee Kong Chian School Of Business

The idea of corporate social responsibility (CSR)—that is, businesses bearing a responsibility to society and a broader set of stakeholders beyond its shareholders—gained currency in the 1960s. Since then, attention on CSR has been growing in both academic and practitioner communities around the world. While there have been criticisms and debates on whether it was appropriate for corporations to expand their remit beyond shareholder value, an increasing majority of corporations have proactively committed to addressing larger societal challenges. With a variety of options for corporate engagement in mainstream society and local communities, corporations have created dedicated organizational units to effectively …

Bringing Africa In: Promising Directions For Management Research, Gerard George, Christopher Corbishley, Jane N. O. Khayesi, Martine R. Haas, Laszlo Tihanyi

Research Collection Lee Kong Chian School Of Business

Africa is beginning to capture the imagination of entrepreneurs, corporate executives, and scholars as an emerging market of new growth opportunities. Over 15 years, the continent has experienced an average growth rate of 5% (World Economic Forum, 2015: v). Out of its 54 countries, 26 have achieved middle-income status, while the proportion of those living in extreme poverty has fallen from 51% in 2005 to 42% in 2014 (African Development Bank, 2014a: 49). Although there are regional differences, the primary drivers of growth have been rapidly emerging consumer markets, regional economic integration, investment in infrastructure, technological leap-frogging, and the opening …

Relationship Between Sustainable Environmental Practices And Sustainable Value Creation: A Conceptual Study On Readymade Garments Industry Of Bangladesh, Mohammed S. Chowdhury, Zahurul Alam, Mizanur Rahaman Chowdhury

Graduate School of Business Publications and Research

Because of the increasing level of industrial contamination the demand for sustainable products and raw materials aligned with the ecological pollution has been on the rise in this horizon. This study theoretically explores the impact of sustainable environmental practices on financial performance of Ready-made Garment (RMG) companies of Bangladesh following the growing literature linking corporate sustainable environmental performance with revenue development and profitability. Various sustainable environmental practices have diverse effects on firm’s performance, as the literature review suggests. From literature review this paper reports four key areas (community, employee, environment and governance) of sustainable practices for sustainable financial performance that …

Sincerity In Corporate Philanthropy, Stakeholder Perceptions And Firm Value, Ilya R. P. Cuypers, Ping-Sheng Koh, Heli Wang

Research Collection Lee Kong Chian School Of Business

This study extends the literature on symbolic management by incorporating the role of stakeholder perceptions into the context of corporate philanthropy. In particular, we differentiate between the quantitative (generous giving) and qualitative (innovative giving) aspects of giving. We argue that although stakeholders may perceive both types of giving as being substantive rather than symbolic, innovative giving is likely to be perceived as more substantive than generous giving is and, thus, has a greater impact on firm value. Furthermore, stakeholder perceptions of corporate philanthropy as being more symbolic or substantive are influenced by firm characteristics—the type of products or services that …

Substitutes Or Complements? A Configurational Examination Of Corporate Governance Mechanisms, Vilmos Misangyi, Abhijith G. Acharya

Research Collection Lee Kong Chian School Of Business

We conduct an exploratory qualitative comparative case analysis of the S&P 1500 firms with the aim of elaborating theory on how corporate governance mechanisms work together effectively. To do so, we integrate extant theory and research to specify the bundle of mechanisms that operate to mitigate the agency problem among publicly traded corporations and review what previous research has said about how these mechanisms combine. We then use the fuzzy-set approach to qualitative comparitive analysis (QCA) to explore the combinations of governance mechanisms that exist among the S&P 1500 firms that achieve high (and not-high) profitability. Our findings suggest that …

Impact Of Component Supplier Branding On Profitability, Stefan Worm, Rajendra K. Srivastava

Research Collection Lee Kong Chian School Of Business

In recent years, many business-to-business (B2B) component supplier (CS) firms have added branding to their marketing toolbox. By extending the logic of ingredient branding to B2B components, they aim to create “pull” from B2B end customers by building a strong CS brand image among their customers' customers. In contrast with the established “push” approach of building strong relationships with original equipment manufacturers (OEMs), it is unclear whether and under which conditions CS branding is a worthy strategy. On the one hand, anecdotal evidence suggests that suppliers can leverage strong CS brand image in negotiations with increasingly powerful OEMs to enhance …

From Tulip Bulbs To Sub-Prime Mortgages. Analyzing The Sub-Prime Crisis: The Case For A Systemic Approach, Alan A. Stephens, J. Brian Atwater, Vijay R. Kannan

Management Faculty Publications

The collapse of the sub-prime mortgage market parallels several earlier failures within the financial services sector, begging the question why the lessons of past failures were not learned. Throughout history from the tulip bulb crisis of the 1600s to the most recent economic crisis, decision-makers keep making the same mistakes. This occurs in part because of a failure to recognize similarities between past and current events. This conceptual paper aims to use systems dynamics tools to examine the crisis and illustrate how seemingly independent events are linked. Design/methodology/approach: The paper provides a fundamental review of systems thinking concepts and uses …

Activity-Based Criteria On Internationalization, Kamal Fatehi, Mohsen Sharifi

Faculty and Research Publications

The world economy is moving ever faster toward a highly interdependent state in which international business is creating a global market. Often, in this environment, growth or even survival of a business hinges on its successful internationalization. Therefore, firms need to ask the vital question of how internationalized are their operations? To answer such question requires, among other things, measuring the extent of global involvement. This paper is an attempt toward constructing an internationalization measure by using financial performance and market engagement data outside firm’s home country.

Abnormal Stock Returns, For The Event Firm And Its Rivals, Following The Event Firm's Large One-Day Stock Price Drop, Susana Yu, Dean Leistikow

Department of Accounting and Finance Faculty Scholarship and Creative Works

Purpose – The purpose of this paper is to examine intra-industry contagion and the following apparent violations of the efficient market hypothesis around large one-day price decline events in individual stocks. Design/methodology/approach – The paper examines daily stock returns around one-day price declines of 10 percent or more for event stocks and their rivals. Using techniques similar to those used in Bremer and Sweeney and Cox and Peterson, the paper includes event stocks whose prices are at least $10 per share prior to the event to reduce the possible price reversal induced by bid-ask price bounce. As is typical for …

What’S In It For Them? Advantages Of Higher Status Partners In Exchange Relationships, Fabrizio Castellucci, Gokhan Ertug

Research Collection Lee Kong Chian School Of Business

This article explores the motivations that high-status firms have to enter exchange relationships with lower-status partners. We argue that high-status firms can secure greater effort from lower-status partners and that the amount of effort will be proportional to their status advantage over these partners. We further propose that such effort will translate to increased performance by mediating the negative consequences of affiliations with lower-status partners. This increase in performance constitutes the motivation for high-status firms to enter exchange relationships with lower-status partners. Findings using data on Formula One racing support our argument.

Market-Based Capabilities And Financial Performance Of Firms: Insights Into Marketing's Contribution To Firm Value, Sridhar N. Ramaswami, Rajendra K. Srivastava, Mukesh Bhargava

Research Collection Lee Kong Chian School Of Business

While there is recognition that market-based capabilities contribute to a firm’s financial performance, the exposition is largely conceptual (Srivastava et al. Journal of Marketing 62:2–18, 1998; Journal of Marketing 63:168–179, 1999). Using a resource based view of the firm, the present study proposes that (1) market-based assets and capabilities of a firm impacts (2) performance in three market-facing business processes (new product development, supply-chain and customer management), which in turn, influence (3) the firm’s financial performance. It develops related hypotheses and tests the framework empirically. The study also examines for the first time the interrelationship among the three business processes …

The Value Of Managerial Beliefs In Turbulent Environments: Managerial Orientation And E-Business Advantage, T. Coltman, T. M. Devinney, D. F. Midgley

Faculty of Informatics - Papers (Archive)

There is a great divide between the degree to which academic research accounts for the role of managerial discretion in firm performance and the weight given by the popular press and financial community to the importance of the management of an organization. The purpose of this paper is to bridge this gap by quantifying the way managerial beliefs influence the quality of firm performance in a turbulent environment based on e-business.
An e-business research setting is used that is associated with a situation of environmental turbulence to allow for sufficient variance in managerial beliefs to measure their effect on firm …

Tracking Performance: When Less Is More, Kathy Paulson Gjerde, Susan B. Hughes

Scholarship and Professional Work - Business

With or without a balanced scorecard, it is easy for managers to become inundated with metrics and measures. In this article, we first highlight the differences between lagging and leading measures. Second, we illustrate the importance of differentiating the strategic leading indicators-the key leading measures-from those that may improve operational efficiency without significant improvements in profitability. Third, we use a business simulation to demonstrate that focusing on and improving the key leading measures has the greatest impact on profitability, but getting lost in the secondary measures dilutes the effect. Combined, the results illustrate that less may be more when it …

Financial Management In The Nonprofit Sector: A Mission-Based Approach To Ratio Analysis In Membership Organizations, A. Abraham

Faculty of Commerce - Papers (Archive)

Nonprofit organisations (NPOs) are melting pots combining mission, members and money. Given that the mission of a nonprofit organisation is the reason for its existence, it is appropriate to focus on financial resources in their association with mission and with the individuals who are served by that mission (Parker 2003; Wooten et al 2003; Colby and Rubin 2005). Measurement of financial performance by ratio analysis helps identify organizational strengths and weaknesses by detecting financial anomalies and focusing attention on issues of organizational importance (Glynn et al 2003). Questions have been raised that relate the performance of NPOs to their financial …

Slack Resources And The Performance Of Privately Held Firms, Gerard George

Research Collection Lee Kong Chian School Of Business

Empirical findings from publicly traded firms and behavioral arguments suggest a positive influence of resource slack on financial performance. While this area has remained unexplored in privately held firms, conceptual arguments indicate that resource constraints may enhance performance. Longitudinal data on 900 privately held firms confirm the differing influences of forms of slack on performance. Results indicate that a combination of behavioral and resource constraints arguments are necessary to explain the slack-performance relationship in privately held firms. The implications of these findings for theories of resources and entrepreneurship are discussed.

A Model Of Financial Performance Analysis Adapted For Nonprofit Organisations, A. Abraham

Faculty of Commerce - Papers (Archive)

Measurement of financial performance by ratio analysis helps identify organisational strengths and weaknesses by detecting financial anomalies and focusing attention on issues of organisational importance. Given that the mission of a nonprofit organisation is the reason its existence, it is appropriate to focus on financial resources in their relationship to mission. Turk et al (1995) suggested that the key to analysis and measurement of the financial and operational control and impact is related to the central question: What is the organisation’s mission? Their model reflects the interrelationship between a series of questions about the mission and the financial resourcing and …