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Announcements of mergers very often discuss the immediate impact of the deal on the acquirer's earnings per share (EPS). We argue that the focus on EPS reflects the difficulty of evaluating and communicating deal synergy in mergers and acquisitions (M&A) practice and provide supporting evidence. We show that the acquirer's EPS focus affects how deals are structured, the premium that is paid, and the types of deals that are done. EPS-driven M&A decisions are also associated with costly distortions in the acquirer's financial and investment policies. [ABSTRACT FROM AUTHOR]

Managers' incentives to round up reported earnings per share (EPS) cause an underrepresentation of the number 4 in the first post-decimal digit of EPS, or "quadrophobia." We develop a novel measure of aggressive financial reporting practices based on a firm's history of quadrophobia. Quadrophobia is pervasive, persistent, and successfully predicts future restatements, Securities and Exchange Commission enforcement actions, and class action litigation. It is more pronounced when executive compensation is more closely tied to the stock price and when the firm anticipates violating debt covenants. Quadrophobia is especially strong when rounding-up EPS allows firms to meet analyst expectations, and investors seem not to see through this behavior. [ABSTRACT FROM AUTHOR]

Purpose: The choice between different financing sources is governed by a number of finance theories, particularly, trade-off theory and pecking order theory. However, the special characteristics of Islamic finance, which forces the exclusion of conventional bonds, leave Islamic banks with limited number of alternatives. Tier 1 sukuk are distinguished type of sukuk that combines the features of conventional bonds and stocks. This paper aims to answer the following question: Does the issuance of Tier 1 sukuk positively affect Islamic banks' profitability or is their impact concentrated on enhancing Islamic banks' capital adequacy ratios? Design/methodology/approach: The data set used in this study consists of all United Arab Emirates (UAE) Islamic banks that issued Tier 1 sukuk over the period 2010–2020. Pooled and fixed effects panel regressions of Tier 1 sukuk and other control variables on three proxies of Islamic banks' profitability were run. The selection of fixed-effect model is based on Hausman test, redundant fixed effects and likelihood ratio test. Findings: This study reveals novel findings. Tier 1 sukuk increases both earnings per share (EPS) and capital adequacy ratios. That is, this study finds that there is a positive significant impact of Tier 1 sukuk on EPS, which indicates that issuing more Tier 1 sukuk will generate more return to shareholders in terms of higher EPS because of the lower cost of Tier 1 sukuk compared to equity. However, this study finds that there is an insignificant impact of Tier on sukuk on both return on assets and return on equity. Hence, it is concluded that Tier 1 sukuk does not increase the risk appetite of UAE Islamic banks. Research limitations/implications: Tier 1 sukuk is a niche instrument that has been recently used by Islamic banks. Hence, there are a limited number of Islamic banks that have issued this type of sukuk and consequently limited number of observations. Therefore, with the increased use of this instrument, a larger set of data will be available for examination. In addition, future research could examine the relationship between issuing Tier 1 sukuk and profitability in other countries where such sukuk have loss absorption feature. The impact of other types of sukuk, such as liability sukuk, on Islamic banks' profitability could also be an interesting field of study. Practical implications: This study recommends Islamic banks to issue more Tier 1 sukuk to enhance their profitability indicators while meeting Basel III accord. This study also recommends investors to purchase the stocks of Islamic banks that issue Tier 1 sukuk because they are able to offer them higher EPS. The authors advise the UAE regulators to allow Islamic banks to issue Tier 1 sukuk with loss absorption feature to enable Islamic banks engage in more risky activities that usually provide larger profits. This study also suggests that the Islamic Financial Services Board (IFSB) reclassifies Tier 1 sukuk, with loss absorption feature, within the highest quality of capital, common equity Tier 1, to encourage Islamic banks to issue this type of sukuk, especially Basel III accord and IFSB 15 require higher ratios of common equity Tier 1 to risk-weighted assets. Originality/value: This research contributes to the existing literature in two ways. First, it adds to the existing literature on the impact of sukuk on Islamic banks profitability. That is, contrary to prior studies that merely investigate the impact of issuing ordinary sukuk on profitability, this study explores a distinguished type of sukuk, that is Tier 1 sukuk, that has been surprisingly ignored so far. Second, this study shows that it is not only capital adequacy ratios that have improved as a result of issuing Tier 1 sukuk but also Tier 1 sukuk reduce the cost of capital of UAE Islamic banks which has been reflected in a higher profitability proxied by EPS. Hence, these sukuk serve a dual function for Islamic banks by improving both capital adequacy and profitability ratios. [ABSTRACT FROM AUTHOR]

Objective: The aim of this study is to identify and rank the financial, nonfinancial, and behavioral components affecting companies' ERC. Methodology: Using data from 153 companies listed on the Tehran Stock Exchange over the period 2013 to 2022, and employing data mining techniques and two methods: stepwise forward regression and regression decision tree, the influential components on ERC were identified and ranked. Findings: The results of the stepwise forward regression method indicated that the components of auditor's opinion type, earnings per share (EPS), stock liquidity, growth opportunities, earnings stability, inflation rate, sales growth, operating profit ratio, relative strength index per share, and market index return respectively influence ERC. The regression decision tree method results also showed that the components of earnings stability, stock liquidity, EPS, stock price synchronicity, stock trading imbalance, adjusted trading volume, psychological line index, relative strength index per share, earnings conservatism, and financial statement restatements respectively influence ERC. The Wilcoxon test results also showed that the ranking of components influencing ERC is not the same in the two methods. Additionally, comparing the mean absolute error of the two methods indicated that the regression decision tree method identifies and ranks the influential components on ERC more accurately. Conclusion: The results of both methods confirm the high impact of EPS, stock liquidity, earnings stability, and relative strength index per share on the ERC of companies. [ABSTRACT FROM AUTHOR]

This present study seeks to empirically examine the long-term impact and association between corporate sustainability performance by utilizing Environment, Social, and Governance (ESG) scores, and the stock market performance indicators of the firms listed on the National Stock Exchange (NSE) India. Panel data regression models have been developed to analyze time series and cross-sectional data for 169 mid- and large-cap firms having an average of 1500 firm-year observations across different industries. A separate examination of ESG scores reveals that the Environmental score is negatively associated with firms' market performance. The Social score is found statistically significant, having a positive association with the market performance indicators. The Governance score also has a negative relationship with the study sample's earnings per share and dividends per share. ESG combined score is positively associated with overall firms' market performance. The results of the study show both positive and negative effects of firms' sustainability on market performance. It will set the pace for academics and researchers in the field of corporate sustainability. The study will also help the business world and policymakers to figure out which components of sustainability offer businesses and stakeholders the most benefits and which elements need more attention. [ABSTRACT FROM AUTHOR]

We show that public banks face negative stock return jumps after missing their earnings per share (EPS) targets, and theoretically and quantitatively link these jumps to bunching behavior in the EPS surprise distribution. Bunching banks cut deposit rates to meet their targets, but do so at the expense of deposit outflows and franchise value losses. Local competitors, including private banks unexposed to capital market pressure, increase deposit rates, compensating depositors for switching. Our results provide new evidence that performance targeting incentives can affect consumer product prices, and suggest that competition may provide a check on public firms' targeting efforts. [ABSTRACT FROM AUTHOR]

This paper applies three robust approaches, namely, the MM estimation, the Theil–Sen estimation, and the quantile regression, to generate earnings forecasts in Chinese financial market and evaluates the forecast accuracy of these three methods based on three forecasting criteria. We examine six forecasting models where the predicted variables include earnings per share, net income, and three profitability measures. We show that the three robust methods significantly outperform the OLS method. Moreover, the MM estimation and the quantile regression have better forecast accuracy than the Theil–Sen approach. [ABSTRACT FROM AUTHOR]

This purpose of the study is to evaluate the influence of corporate governance mechanism factors: board size, board independence, capital adequacy ratio, as well as bank-specific factors: dividend payout ratio and firm size, on the performance of Nepalese commercial banks. The study covered 10 years’ secondary data from 2013/14 to 2022/23, derived from the annual reports and websites of four selected commercial banks that were listed on the Nepal Stock Exchange: Kumari Bank Limited, Himalayan Bank Limited, Prabhu Bank Limited, and Prime Commercial Bank. A non-probability sample method, especially the purposive sampling approach, was used in this study. Earnings per share (EPS) is regarded to be the dependent variable, whereas two elements, namely, corporate governance mechanisms and bank-specific factors, are considered to be independent variables. Data analysis was carried out using the SPSS 25 software, which includes descriptive statistics, Pearson correlation, and multiple linear regression. The empirical results indicate that board size has a favorable influence on EPS, but this association does not reach statistical significance. In contrast, board independency has a notable and statistically significant negative impact on EPS. The capital adequacy ratio is positively correlated with EPS. However, the impact of firm size on EPS is not statistically significant. On the other hand, the dividend payout ratio has a significant positive effect on EPS.

The board of directors is an important corporate governance mechanism as it is responsible for the operation of a firm and protects the value of the investment made by investors in the firm. Therefore, board members should be supplied with an appropriate incentive to properly discharge their duties. One of the most important incentive mechanisms is remuneration. This study aims to reveal the effect of board members' remuneration on the firm performance. Regression analysis was performed to test the hypotheses. 210 firm-year observations obtained from 76 non-financial firms traded in the BIST 100 between the 2018-2020 period were used. The indicators of firm performance return on assets, return on equity, and earnings per share. As a consequence of the study, the relationship between board members' remuneration and firm performance was found to be positive and statistically significant. These results show that the board members' remuneration is a strong incentive used to increase the firm performance and that a suitable remuneration policy should be established for directors. [ABSTRACT FROM AUTHOR]

The shipping industry transports nearly 80% of the goods worldwide and requires large funding. The shipping industry shifted from debt to equity as the source of funding in the last decade. Because most shipping companies already had their initial public offering before 2013, these companies tend to engage in follow-on equity offerings (FPO). However, the challenge faced by the shipping companies is the lack of knowledge on successful FPO. The purpose of this study is to identify the most influential factors affecting shipping companies’ FPO from the investor perspective. This research applies a hybrid multiple-criteria decision-making model integrating the fuzzy-Delphi method and Decision-Making Trial and Evaluation Laboratory, processing survey responses covering four dimensions and 16 criteria from 33 investment experts. The results show that financial indicator is the primary cause affecting offering condition, technical indicators. An increase in earnings per share would help the financial performance of the shipping companies to appear most attractive to investors. [ABSTRACT FROM AUTHOR]

Despite its scarcity, capital is necessary for a country's economic development. To channelise capital foreign investment, financial intermediaries such as development banks, commercial banks, investment and financial institutions, insurance and investment banks are required. The expansion of the capital market is required to encourage and steer capital formation. The capital market encourages investment while also bringing vigour and dynamism to the country's business organisations. The availability of accounting information and financial reporting is crucial for the effectiveness of capital markets, efficient resource allocation, capital information and economic development. Prior researchers prove the relevance of accounting information as a predictor of changes in stock behaviour in particular and growth of stock market in general. To augment this aspect the relevance of segment wise information provided by companies becomes important to be studied. Hence, the present study examines the influence of segment reporting on value relevance. Stock price after 90 days from the end of the financial year has been taken as a dependent variable and various segment related dimensions as independent variable for the period 2016-2017 to 2021-2022. It employed Ohlson (1995) model and indicates that Segment reporting information has significant and positive influence on value relevance thus it clearly indicates that investor's view segment information while making investment decisions. [ABSTRACT FROM AUTHOR]

This article covers the topic of the relationship between the growth of companies and their financial condition when different business profiles are surveyed, such as high-tech, growth potential companies included in the NASDAQ Composite Index and traditional, matured companies included in the Dow Jones Industrial Average (DJIA), commonly known as blue-chip stocks. The hypothesis that the relationship between the Altman Z-score and the growth of enterprises as measured by assets, equity, sales, and earnings per share is positive was tested with Granger and VAR models. The main difference was found to be related to the size of the companies size and dynamics of growth. It was also shown that between NASDAQ enterprises there was no relationship between their growth and Altman Z-score, whereas when the DJIA blue chips were taken into account, a positive relationship was identified. It can be concluded that high-tech enterprises grow in a less predictable way not related to their economic condition, but mature enterprises focused on the growth and their condition. The value added of the article is finding that high-tech companies with growth potential and blue chips are managed in a different way due to their strategies of development. [ABSTRACT FROM AUTHOR]

The present study aims to examine the financial performance before and during the COVID-19 pandemic with respect to profitability ratios, liquidity ratios, solvency ratios and economic value added (EVA) of select Indian public sector banks listed in the Bombay Stock Exchange (BSE). In total, 12 public sector banks listed on the BSE were chosen for the analysis, which spans the years 2018-2019 to 2019-2020. Financial statements and monthly closing prices of public sector banks are the data that were gathered for this study. The tools used in this study are as follows: (I) EVA, (2) financial ratios, (3) descriptive statistics, (4) Shapiro-Wilk normality test and (5) paired samples t-test. Findings of the study are as follows: The empirical findings of the study revealed that the COVID-19 pandemic has a negative effect on earnings per share, net profit ratio, return on capital employed, return on asset and return on equity and a positive effect on current ratio, debt to equity ratio and EVA of select public sector banks. The findings of this study provide several avenues for more research. As one of the research ramifications, future researchers would need to explain discrepancies in the statistical findings of various academics in the finance field. As the expansion of the banking industry is correlated with India's economic growth, developing nations like India rely on the accuracy of the information. With the information provided, the COVID-19 pandemic has a negative effect on profitability variables and positive effect on liquidity, solvency and shareholder's wealth creation variables, so that it has no serious harmful consequences on the economy in respect to profitability position of select banks. The study is conducted on the financial performance before and during the COVID-19 pandemic with respect to profitability ratios, liquidity ratios, solvency ratios and EVA of select Indian public sector banks listed in BSE and also highlighted how banks adapted the pandemic situation, which is a new phenomenon. [ABSTRACT FROM AUTHOR]

The present research paper examines digital payment cards, which are regarded as one of the most important instruments for digital payment innovation. The study analyzed the impact of digital payment methods on bank's performance, particularly EPS including the pandemic which has not been considered in the previous studies. The present study makes use of two independent variables and four dependent variables: debit cards (DC), credit cards (CC), operating profit margin (OP), return on assets (ROA), earnings per share (EPS), and return on equity (ROE). The methodology of the research study examines bank data from 2015 to 2022 (including the period of the pandemic) through regression analysis using the E-view 12 software. The findings demonstrate that the ROA and ROE of banks are significantly impacted by the use of debit cards and credit cards. However, they do not significantly affect the earnings per share. Further, debit cards impact OP margin significantly, and no significant impact of credit cards on operating profit. The study demonstrates that strengthening the use of digital payment tools requires both activating supervisory and regulatory authorities as well as improving the efficacy of data security against risks. The study provides insight into how digital payment cards improve financial performance, especially when analyzing EPS and selecting the beneficial investment strategy. [ABSTRACT FROM AUTHOR]

This study seeks to identify the impact of sustainable development goals (SDGs) in predicting corporate financial performance (CFP) in the information communications technology (ICT) industry. Data over the period of 2016–2020 that are relevant to financial reporting and corporate social responsibility (CSR) reporting have been extracted for 208 firms in the ICT industry. Important variables have been identified to help predict the financial performance in the following years upon the publication of CSR reports. Drawing on resource‐based view and stakeholder theory, the purpose of this study is to find the quintessential variables that influence the prediction accuracy of financial performance. To better forecast earnings per share (EPS), machine learning feature selection methods have been implemented. The findings suggest that certain variables such as return on total assets, SDGs adoption and whether the firm has established KPI for SDGs achievements can help enhance EPS prediction. With the various predictive models, the artificial neural network model is the most effective in predicting CFPs. Most importantly, the adoption of SDGs can be utilized to sharpen the forecast on financial performance as it enables firms to bolster stakeholder engagement and evaluate environmental, social, and corporate governance efforts. [ABSTRACT FROM AUTHOR]

This study examines the effect of corporate practices on the financial stability of listed Deposit Money Banks (DMBs) in Nigeria. Utilizing a quantitative approach, secondary data from the annual reports of ten selected DMBs between 2014 and 2023 were analyzed using statistical tools such as descriptive statistics and a panel regression model of Random effect. The results reveal significant positive effect of, corporate social responsibility expenditure and ethical compliance demonstrates a positive and statistically significant influence on earnings per share, suggesting that increased investment in CSR activities correlates with improved financial performance. Conversely, a negative but significant relationship is observed between employee turnover rate and EPS, indicating adverse effects on financial stability. Furthermore, ethical compliance exhibits a positive association with EPS, underscoring the importance of adherence to ethical standards for financial well-being. Implications of the findings extend to academia and banking practitioners, emphasizing the necessity of integrating CSR initiatives into corporate strategies to enhance financial stability. Mitigating high employee turnover rates and maintaining ethical standards are recommended strategies for bolstering financial performance. Methodologically, the study contributes by employing rigorous statistical methods and model selection techniques. In conclusion, this research sheds light on the relationship between corporate practices and financial stability within Nigerian DMBs, offering empirical evidence and methodological advancements. Recommendations include increasing CSR investment, addressing turnover issues, and upholding ethical standards to bolster financial stability and overall performance in the banking sector. [ABSTRACT FROM AUTHOR]

This research examines the influence of fundamental factors (ROE, NPM, and EPS) on stock prices. This research is a type of associative quantitative research category through purposive sampling in obtaining a sample of 39 companies. All banks listed on the Indonesian Stock Exchange (IDX) in the 2019-2022 period are the target population of the research. This study collected archival data from official IDX website. The data is analysed using multiple linear regression with the help of the SPSS 26.0 Data Processing Software Application. The results showed that ROE and NPM have no significant effect on stock prices partially. Meanwhile, EPS has a significant effect on banking stock prices. A higher increase in EPS will have a significant impact on the raising of firm value in the capital market. For investors, EPS can be a major consideration in determining investment decisions. For banking companies, it is important to pay attention and improve the company's performance, especially related to EPS which has a significant influence on the increase in stock prices.

Forecasting earnings for publicly traded companies is of paramount significance for investments, which is the background of this research. This holds particularly true in emerging markets where the coverage of these companies by financial analysts' predictions is limited. This research investigation delves into the prediction inaccuracies of cutting-edge time series forecasting algorithms created by major technology companies such as Facebook, LinkedIn, Amazon, and Google. These techniques are employed to analyze earnings per share data for publicly traded Polish companies during the period spanning from the financial crisis to the pandemic shock. My objective was to compare prediction errors of analyzed models, using scientifically defined error measures and a series of statistical tests. The seasonal random walk model demonstrated the lowest error of prediction, which might be attributable to the overfitting of complex models.

This study aims to provide empirical evidence regarding the factors that influence underpricing. The analysis technique uses multiple linear regression and MRA (Moderate Regression Analysis) analyses. The population in this study are companies that conduct IPOs on the Indonesia Stock Exchange. This study used purposive sampling and obtained 116 samples from 164 companies that completed IPOs in 2020 - 2022. The results showed that auditor reputation hurts underpricing, and the debt-equity ratio positively affects underpricing. In contrast, earnings per share and company age do not affect underpricing. The results of moderation testing show that underwriter reputation weakens auditor reputation and debt-equity ratio on underpricing, and underwriter reputation cannot moderate earnings per share and company age on underpricing.

Financial management is an important part of enterprise management, aiming to ensure the reasonable utilization of financial resources and help enterprises achieve business goals. This study utilizes chaotic particle swarm optimization algorithm to optimize the backpropagation neural network, and based on this, constructs a financial management early warning model for enterprise circular economy. Performance testing experiments show that the error reaches the target accuracy of 0.042881, with an R-value of 0.92287, indicating high prediction accuracy of the model; In the comparison experiment with the backpropagation model and the genetic feedback model, this study constructed a model with faster convergence speed and an overall accuracy of 92%, significantly higher than the other two models, further verifying the superiority of the chaotic particle swarm feedback neural network model. This indicates that the research model has certain application value in the financial management of circular economy in enterprises. Financial risk early warning model (EWM) usually include two basic parts: warning indicators and simulation scenarios. Early warning indicators offer insight into the financial status of investment schemes, which may include return on investment, asset turnover, and earnings per share, among others. A variety of indicators can effectively represent the financial state of a company. This study will provide a detailed introduction to the indicator system of the financial management (FM) EWM. Before constructing an EWM indicator system, it is essential to first classify the financial risk levels. [ABSTRACT FROM AUTHOR]

The study assesses the impact of financial leverage, interest coverage ratios, and debt-to-equity ratios on the earnings per share (EPS) of Indian banks during the COVID-19 pandemic. It analyzed 23 Indian banks in the NIFTY 100 index, including 10 private and 13 public sector banks. The results showed that financial leverage, interest coverage ratios, and debt-to-equity ratios significantly impacted EPS. The interest coverage ratio had a favorable effect, while financial leverage and debt-to-equity ratios had negative effects. [ABSTRACT FROM AUTHOR]

The paper develops a standardized quantitative method to measure corporate reputation in Indian manufacturing sector companies, listed on S&P BSE AllCap Index, as the existing methods are beset with limitations. The quantitative method uses eight measures, namely, price earning ratio (P/E), market-to-book ratio (M-t-B), earnings per share (EPS), market capitalization (MC), firm age (FA), listing age (LA), shareholder return (SHR) and total assets (TA), to measure corporate reputation. Spearman Rank Correlation test and Correlation matrix methods are applied to analyze the level of consistency in reputation maintained by Indian manufacturing sector companies. Reputation rankings using eight proxies show that Indian companies did make efforts to maintain their corporate reputation during the study period 2013-2022. The study is significant because it is the first of its kind to measure quantitative company reputation over a long period in the Indian context. [ABSTRACT FROM AUTHOR]

Copyright of Accounting & Financial Studies Journal is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study aims to solve the imbalanced sample problem in default prediction. We calculate the classification contribution score of each default customer by the entropy weight technique (EWT) for order of preference by similarity to the ideal solution and construct a default prediction model according to several models. Our proposed EWT‐synthetic minority oversampling technique (SMOTE) method significantly improves the prediction accuracy of several typical default prediction models and reduces type II error. We find that the indicators "net cash flow from operating activities," "Engel coefficient," "basic earnings per share," and "total social retail sales" significantly influence default prediction of Chinese listed companies. [ABSTRACT FROM AUTHOR]

Lease accounting was revised in 2016 due to the contentious nature of its reporting in the financial statements under IAS 17- for impairing the quality of accounting information due to the inappropriate treatment of identified resources in control and financial obligations by lessee firms. IFRS 16 (effective 2019) eliminates the distinction between operating and finance leases requiring right-of-use assets and associated liabilities to be reported on the Statement of Financial Position. In cognizance of its objective of enhancing information quality, the paper assessed the relevance of accounting information reported subject to compliance with IFRS 16 in the context of listed nonfinancial firms in Nigeria utilizing lease finance. The Ohlson model was modified to regress share price on the book value of equity per share, earnings per share, and the interaction of 2021. GLS regression results indicate book value per share to the relevance of earnings per share remains unchanged. The paper concludes that IFRS 16 adoption enhances the information quality of listed non-financial firms in Nigeria. Recommendations are made for firms to optimize accounting processes to achieve or sustain information quality by adopting IFRS 16. The IASB, as a standard-setter, should also prioritize the cost-efficiencies of standards in their implementation, as this could account for a disparity in the perceived accounting information quality of varying-sized firms). [ABSTRACT FROM AUTHOR]

This study aimed to examine and analyse a company's characteristic variables. Its earnings per share and interest rates were the macroeconomic variables, and their effect on stock prices was mediated by firm value. This study used quantitative methods and path analysis of 30 financial companies belonging to banks and non-banks that have been listed on the Indonesia Stock Exchange. The results showed that the direct effect of earnings per share on stock price had a positive and significant coefficient. Indirectly or through mediation (intervening) the firm value variable showed that the effect of the earning per share variable on the stock price was obtained by a positive and significant coefficient value. Furthermore, the results showed that the direct effect of interest rate on stock price had a positive direction coefficient and was not significant. The results of the research indirectly or through mediation (intervening) of firm value variable indicated that the effect of interest rate variable on stock price was obtained by positive and insignificant coefficient value. Meanwhile, the firm value directly on the stock price has a significant effect. [ABSTRACT FROM AUTHOR]

Recent research shows that the United States Securities and Exchange Commission's enhanced compensation disclosures introduced in 2006 reduced boards' flexibility in their compensation decisions and that boards immediately reacted by increasing executive pay to compensate for additional pay risk. We investigate firms' longer-term reactions to these new disclosure rules. We find that firms often adjust realized earnings per share ex post when deciding their executives' bonuses, and this practice has gained popularity since 2006. The use of ex post discretionary adjustments is more pronounced when boards' demand for compensation flexibility is higher. Overall, our findings suggest that ex post discretionary adjustments are a source of flexibility that boards use to cope with limited compensation flexibility under the new compensation discussion and analysis disclosure rules. Data Availability: Data are available from the public sources cited in the text. JEL Classifications: M41; M52. [ABSTRACT FROM AUTHOR]

This study uses controlled experiments to investigate the joint effects of forecast uncertainty and forecast precision on investor judgements. It finds that forecast precision moderates the effects of forecast uncertainty on investors' forecast reliability judgements such that the effects of forecast uncertainty on investors' judgements of forecast reliability are more negative when an analyst's point earnings per share (EPS) forecast is rounded than when it is precise. In addition, the relationship between forecast precision and investors' judgements of forecast reliability is mediated by investors' perceptions of forecast attributes. The evidence also suggests that while forecast uncertainty exerts a negative effect on investment judgements, forecast precision does not play a role in mitigating these negative effects. Using a supplementary within‐participants experiment, the study further finds that investors may not be consciously aware of how forecast precision influences their judgements of forecast reliability. [ABSTRACT FROM AUTHOR]

Financing decisions and capital structure are very important for companies and are influenced by several factors. This study aims to examine the relationship between managers' financing attitudes (internal or external) and their financing policies. In this examination, the survey population consists of companies listed on Tehran Stock Exchange whose CEO or financial manager (at least one) was unchanged between 2019 and 2021. Redman et al.'s [30] questionnaire was applied to determine the attitude toward financing. Financing policies used by the managers were collected by referring to the audited financial statements of the companies. Totally, 51 usable answers were received from the respondents. The research hypotheses were dragging using a multivariate regression equation model in the form of panel data. The results show a significant relationship between the financing methods through retained earnings and debt with the attitudes toward financing from the place of retained earnings and debt. In contrast, the financing tendency through debt has no significant relationship with the policy of financing the stock issue through the issuance of shares. [ABSTRACT FROM AUTHOR]

Entelektüel sermaye firmanın kültürünü, değerlerini, bireylerin yeteneklerini, yazılım donanımları, tedarik zincirlerini, müşteri ilişkilerini kapsayan faaliyetler bütününü ifade etmektedir. Firma içerisindeki tüm bilgilerin değere dönüşmesi firmanın entelektüel sermayesi olarak görülmektedir. Hisse başına kar, firma performansının belirlenmesinde önemli ölçütlerdendir ve firmanın faaliyetleri ve tüm yükümlülüklerini yerine getirdikten sonra, her bir hisse başına elde edilen dönem karını ifade etmektedir. Kurumsal yönetim, firmanın etkileşimde bulunduğu tüm çıkar grupları ile arasındaki ilişkileri düzenleyen bir sitemdir ve firmanın değer oluşturmasında, kazanç sağlamasında etkili bir unsurdur. Çalışmanın amacı BIST100 Endeksi’nde yer alan kurumsal yönetim ilkelerini uygulayan ve uygulamayan firmaların entelektüel sermaye unsurlarının hisse başına kar üzerinde etkisinin olup olmadığını belirlemektir. Bu amaç doğrultusunda çalışmada, 2016-2021 yılları arasında Borsa İstanbul 100 Endeksi’nde yer alan, kurumsal yönetim ilkelerini uygulayan ve uygulamayan firmaların verileri kullanılmıştır. Bu firmalardan 37’si kurumsal yönetim endeksine dahil iken; 63’ü kurumsal yönetim endeksine dahil değildir. Firmaların kurumsallık durumlarının belirlenmesinde kurumsal derecelendirme notlarına bakılmıştır. Firmaların entelektüel sermaye unsurları insan sermayesi, yapısal sermaye ve müşteri sermayesi olmak üzere hesaplanmıştır. Çalışmada panel veri analizi kullanılmıştır ve dirençli tahminciler yöntemi uygulanmıştır. Yapılan analizler sonucunda, hem kurumsal yönetim ilkeleri uygulayan firmalar hem de kurumsal yönetim ilkeleri uygulamayan firmaların entelektüel sermaye unsurlarının hisse başına kara anlamlı etkiler olduğu tespit edilmiştir.

We estimate investor disagreement from synthetic long and short stock trades in the equity options market. We show that high disagreement predicts low stock returns after positive earnings surprises and high stock returns after negative earnings surprises. The negative effect is stronger for high-beta stocks and stocks that are more difficult to sell short. In the cross-section of all stocks and the subset of the 500 largest companies, high disagreement robustly predicts low monthly and weekly stock returns. [ABSTRACT FROM AUTHOR]

An important indicator of joint stock companies is the earnings per share. Information on earnings per share reflects not only the relationship over the distribution of profit of the company, but also can be used to and for assessing the investment potential of the joint stock company. In the article, we will investigate and analyse more deeply the earnings per share, which is of particular importance to a wide range of users in the decisionmaking process, as it provides information regarding both, the efficiency of investments in shares, as well as strategies regarding the economic performance and financial position of the joint stock company. [ABSTRACT FROM AUTHOR]

Copyright of Polish Journal of Management Studies is the property of Czestochowa University of Technology, Faculty of Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The main purpose of the study is to ascertain whether intellectual capital will affect company growth expressed by the earnings per share (EPS) indicator. Design/methodology/approach: The relationship between the company’s growth expressed by EPS and intellectual capital was checked using the vector autoregression (VAR) model. Findings: This study analyzed the relationship between measures of intellectual capital and the future development of companies listed on the main market of the Warsaw Stock Exchange. It demonstrated that measures of intellectual capital are reflected in the future growth of enterprises, especially earnings per share, and that the development phase can change the results related to the opportunity for company growth and future development. Research limitations/implications: The sample size is small for any generalization. A mixed method approach in the future could contribute to a holistic finding Practical implications: The results of empirical analyzes reflect the growth of enterprises and should be based on various economic measures, because it is impossible to clearly determine which indicators influence or do not influence this growth and to what extent they determine it. Originality/value: The added value of the presented research results concerns the demonstration that investments in human capital influence the increase in the value of the enterprise on the capital market. Although the Polish market, with companies listed on the WIG, is considered an example of a developing economy, the Polish capital market has not yet been covered by this type of research. [ABSTRACT FROM AUTHOR]

The aim of the article is to analyze the liquidity of non-financial companies listed on the Warsaw Stock Exchange. The article addresses the liquidity of the examined group against the background of the entire market and its relationship with debt, profitability, growth and the risk of bankruptcy, including in the context of the COVID-19 pandemic. The article examines the assertion that COVID-19 influenced the practice of aggressive liquidity management in terms of indebtedness, profitability, value creation, and risk of bankruptcy. The research revealed that public companies behaved differently than the entire sector by pursuing an aggressive management policy and that the pandemic caused an even greater decrease in the static liquidity ratios while cash conversion cycle (CCC) increased. In addition, the decline in EPS growth and the increase in Z-Score during the pandemic could mean that enterprises focused on reducing the risk of bankruptcy rather than maximizing value during the pandemic shock. Before the pandemic, CCC influenced DER, and during the pandemic, static indicators began to play a more important role in the financial strategies of the surveyed companies. The research results add to liquidity theory and its impact on shaping financial strategy, especially during a financial crisis. In addition, an analysis of the impact of liquidity on earnings per share (EPS) growth and Z-Score was conducted. They represent the creation of value and the assessment of the risk of bankruptcy, making this paper particularly insightful. The results obtained provide valuable guidance to decisionmakers managing liquidity and debt in corporate finance. [ABSTRACT FROM AUTHOR]

Shares are an investment in the mass market that is quite easy to do nowadays. It is not surprising that even though the Covid-19 pandemic occurred some time ago, the capital market is increasingly busy, both for investment and trading purposes. With the ease of registering as an investor through registered securities, which can be done by downloading the application and attending a basic capital market school with very minimal capital, it is very affordable for novice investors, both among students who already have a KTP (Resident Identification Card) and other people. adults who have income or not. Don't forget that bank issuers have also increased, especially in terms of share prices. This research aims to identify the influence of the operating expense/operating income ratio (BOPO), loan to deposit ratio (LDR), earnings per share (EPS), and return on equity (ROE) on bank share prices. The data in this research was collected from the Indonesian Stock Exchange and the Financial Services Authority. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Selcuk University Social Sciences Institute / Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi is the property of Journal of Selcuk University Social Sciences Institute and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Mergers and Acquisitions (M&A) have become an effective strategic tool to consolidate the Banks and Financial Institutions (BFIs) in Nepal to increase their capital base, expand their business, and bring financial stability. This paper evaluates the impact of M&A on the financial performance of two commercial banks between 2013 and 2020 by using twelve accounting ratios and a paired sample t-test. The findings for the first bank show that the impact of the merger on the financial performance ratios is mixed, despite significant improvements in return on assets, net interest margin, and earnings per share. However, in the case of the second bank, there is an insignificant impact of M&A on the financial ratios except for dividends per share (DPS) in the pre-post-M&A period. [ABSTRACT FROM AUTHOR]