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- Manufacturing (3)
- Altman Z-Score (2)
- Corporate performance (2)
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Articles 1 - 14 of 14
Full-Text Articles in Social and Behavioral Sciences
Understanding The Connection Of Performance And Z-Scores For Manufacturing Firms In South Korea, S.L. Foo, Shaakalya Pathak
Understanding The Connection Of Performance And Z-Scores For Manufacturing Firms In South Korea, S.L. Foo, Shaakalya Pathak
Research Collection School Of Accountancy
South Korea is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. South …
Political Connections And The Value Of Cash Holdings, Yuanto Kusnadi
Political Connections And The Value Of Cash Holdings, Yuanto Kusnadi
Research Collection School Of Accountancy
This study examines how political connections influence the value of cash holdings in an international setting. The main finding reveals that political connections are not associated with the value of cash holdings in the overall sample. However, further analysis demonstrates that political connections are negatively associated with the value of cash holdings for firms inemerging markets and in countries with high levels of corruption. Moreover, the negative valuation of cash holdings is driven by firms that are connected through large shareholders. Overall, the findings provide new insights into the value relevance of cash holdings, especially for politically connected firms.
An Examination Of Corporate Performance And Altman Z-Scores Of Indian Manufacturing Firms, See Liang Foo, Shaakalya Pathak
An Examination Of Corporate Performance And Altman Z-Scores Of Indian Manufacturing Firms, See Liang Foo, Shaakalya Pathak
Research Collection School Of Accountancy
India is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. India registered …
Do Firms Manage Their Csr Reputation? Evidence From Twitter, Richard M. Crowley, Wenli Huang, Hai Lu, Wei Luo
Do Firms Manage Their Csr Reputation? Evidence From Twitter, Richard M. Crowley, Wenli Huang, Hai Lu, Wei Luo
Research Collection School Of Accountancy
Using a machine learning approach to process 11 million tweets posted by S&P 1500 firms from 2011 through 2016, we find that poor CSR performance firms tweet more about CSR activities and use tweets that are shorter, and with more passive voice and extreme tone. Good CSR performance firms tweet less about CSR, yet gain twice more followers per CSR tweet than poor CSR performance firms. Good CSR performance firms also experience a greater decrease in institutional ownership along with higher increases in bid-ask spread and stock return volatility after joining Twitter than do poor CSR performance firms. Our findings …
Studying The Relationship Between Japanese Firms' Corporate Health And Results, See Liang Foo, Shaakalya Pathak
Studying The Relationship Between Japanese Firms' Corporate Health And Results, See Liang Foo, Shaakalya Pathak
Research Collection School Of Accountancy
Japan is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market (the Tokyo Stock Exchange). A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for …
Informativeness Of The Expanded Audit Report: Evidence From China, Beng Wee Goh, Jimmy Lee, Dan Li, Muzhi Wang
Informativeness Of The Expanded Audit Report: Evidence From China, Beng Wee Goh, Jimmy Lee, Dan Li, Muzhi Wang
Research Collection School Of Accountancy
This study investigates whether the expanded audit report is informative to investors in the setting of an emerging economy. Using the recent staggered adoption of the expanded audit report for A+H and A share firms in China, we find robust evidence that abnormal trading volume and earnings response coefficients are higher, and stock price synchronicity are lower, in the post-adoption periods than in the pre-adoption periods. In additional tests, we find that the expanded audit report is more informative for non-State Owned Enterprises and for firms with higher information asymmetry. Overall, our study documents systematic evidence that the expanded audit …
An Analysis Of Z-Scores And Performance: Manufacturing Companies In Hong Kong, S.L. Foo, Shaakalya Pathak
An Analysis Of Z-Scores And Performance: Manufacturing Companies In Hong Kong, S.L. Foo, Shaakalya Pathak
Research Collection School Of Accountancy
Hong Kong is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. Hong …
Text Analytics Approach To Examining Corporate Social Responsibility, Nurul Asyikeen Binte Azhar, Gary Pan, Poh Sun Seow, Andrew Koh, Wan Ying Tay
Text Analytics Approach To Examining Corporate Social Responsibility, Nurul Asyikeen Binte Azhar, Gary Pan, Poh Sun Seow, Andrew Koh, Wan Ying Tay
Research Collection School Of Computing and Information Systems
This research article explores a text analyticsapproach to assess the prominence of corporate social responsibility in 554Singapore-listed firms through a content analysis of the news. Instead ofrelying on publications by the firms, third-party news coverage is used toreduce potential biases due to over-reporting. A dataset of news articles onthe included firms published during fiscal years 2015 and 2016 is crawled, andthe articles’ content is parsed to search for information related to corporatesocial responsibility. Graph theory is subsequently used to create acollaborative network of listed firms’ corporate social responsibilityactivities. The results highlight a more automated and scalable means ofassessing the prominence …
The Impact Of Double Tax Treaties On Inward Fdi In Asean Countries, Yue Dong
The Impact Of Double Tax Treaties On Inward Fdi In Asean Countries, Yue Dong
Research Collection School Of Accountancy
This study aims to assess the impact of double taxation treaties (DTT) on FDI inflows in 10 ASEAN countries from 1989 to 2016. There are two objectives of double taxation treaties. The first one is to alleviate the problem of global double taxation, which has a stimulating effect on FDI. The second objective is the sharing of information between governments, which can prevent tax evasion and thus discourage FDI. The findings suggest that new DTTs in ASEAN have a positive but insignificant impact on the FDI inflows into the region. However, the impact of old DTTs on FDI is significantly …
Academia-Industry Alliance Can Boost Accountancy In Laos, Clarence Goh, Sanva Saephan
Academia-Industry Alliance Can Boost Accountancy In Laos, Clarence Goh, Sanva Saephan
Research Collection School Of Accountancy
Surrounded by Myanmar, Cambodia, China, Thailand, and Vietnam, the landlocked nation of Laos has often struggled to escape from the shadows of its larger neighbours. However, Laos has steadily opened its doors to the world over the past few decades and has developed ambitious plans to grow its economy. ... It was in the spirit of deepening collaboration that we embarked on a recent study trip to the Laotian cities of Vientiane and Luang Prabang with 29 undergraduate students from Singapore Management University (SMU).
A Step Forward For Tax Dispute Resolution Between China And Asean Countries Under The Belt And Road Initiative, Diheng Xu
Research Collection School Of Accountancy
China has a closer business relationship with Southeast Asian countries under the Belt and Road Initiative (BRI). To ensure tax certainty for the investment, it is necessary to establish an effective and efficient tax dispute resolution mechanism. The mutual agreement procedure (MAP) is the primary means, but it has its limitations, especially for countries in this region. Arbitration could be a powerful complementary to the MAP. China has established a new BRI Court-connected and Mediation Centre (Centre) that aims to resolve commercial disputes in this region. It seems like a new alternative for resolving tax disputes since it combines mediation …
Reviewing The Oecd's And The Eu’S Assessment Of Singapore's Development And Expansion Incentive, Frederik Boulogne
Reviewing The Oecd's And The Eu’S Assessment Of Singapore's Development And Expansion Incentive, Frederik Boulogne
Research Collection School Of Accountancy
This paper analyses and describes which norms can be derived from the OECD’s and the EU’s work on preventing harmful taxation that influence how Singapore should design and administer its Development and Expansion Incentive (‘DEI’). This analysis is relief upon in reviewing the Forum on Harmful Tax Practice’s conclusion that the DEI is not harmful and the decision not to place Singapore on the EU’s list of non-cooperative jurisdictions; a decision that suggests that the Council of the European Union considers Singapore to have adequately implemented the minimum anti-BEPS standards, of which BEPS Action 5 is one. These verdicts are, …
Corporate Governance: Avoid The Groupthink Pitfall, Themin Suwardy
Corporate Governance: Avoid The Groupthink Pitfall, Themin Suwardy
Research Collection School Of Accountancy
Consensus due to similar personal backgrounds, lack of diversity in views and failure to see things from others’ perspective can lead to bad decisions.
'Substance' – A Singapore's Perspective, Cindy Siu Ching Wong, Siau Yan Tang
'Substance' – A Singapore's Perspective, Cindy Siu Ching Wong, Siau Yan Tang
Research Collection School Of Accountancy
One of the principles underpinning the OECD Base Erosion and Profit Shifting (“BEPS”) project is the concept of “substance”. Taxation is to be aligned with substance so that profits are being taxed in the location where value is created. However, what constitutes “substance” has not been clearly defined. This paper seeks to examine the concept of substance as applied in different contexts and attempts to put forth a notion of substance that is relevant to Singapore. Having examined the subject matter, the authors are of the view that it is no longer sufficient to have “substance” as a vague guiding …