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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]

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]

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]

Copyright of Journal of Application Business & Management / Jurnal Aplikasi Bisnis dan Manajemen is the property of IPB University 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.)

The determination of this research is to investigate the level to which the regulations governing professional authority have an influence on the efficiency of the banking sector in Bangladesh. In this study, we selected 100 (one hundred) sample from commercial banks from 2017 to 2021 years, respectively. These banks were all active participants and registered in the Dhaka Stock Exchange (DSE). To examine the relationship between the independent variables (bank size, board size, board composition, and CEO status) and the dependent variable (CEO status), a random effect of panel least square regression analysis was conducted (return on asset, return on equity and earnings per share). According to the results from the analysis, the size of a bank has a favorable effect on ROA and ROE, but a negative effect on EPS. Moreover, the success of Bangladeshi banks tends to increase as their size increases. Corporate governance and financial institution performance in Bangladesh are significantly associated. [ABSTRACT FROM AUTHOR]

Sustainability is the new popular expression, creating a need to change business procedures across all undertakings. The significance of sustainable and mindful assumption methodologies has fundamentally increased because of the rising perception concerning natural strength and financial advancement of nations. This article aims to deal with basic idea of sustainability, core elements and inter-relationships between different significant factors of a particular company. This study considers six parameters: social; economic; environmental; product responsibility; labour practices and decent work; and human rights. To analysis the result of the study, last five years (2017-2021) data of Gas Authority of India Limited (GAIL), a Maharatna Company, have been taken. For the purpose of the study, four financial factors--turnover of the company, profit after tax, earnings per share (EPS), return on capital employed have been considered dependent factors. On the contrary, five sustainable factors, that is, total environmental expenditure, GHG emission, GHG savings, energy consumption and energy savings--have been taken as independent factors. Based on the analysis of these factors, impact of the sustainable performance of GAIL on its financial performance has been assessed. During this study, the COVID-19 pandemic hit the world, which had a great impact on the business of every company as reflected in their financial performance. To evaluate the interrelationship between two considerable factors, it is found that, to some extent, financial factors are dependent on sustainable factors, or that it is quite evident that financial factors change due to the changing trends of sustainable factors. [ABSTRACT FROM AUTHOR]

Copyright of Acta Economica is the property of University of Banja Luka, Faculty of Economics 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 examined impact of Working capital management on the financial performance of selected consumer goods firms listed on the Nigerian stock exchange. The study employed ex post facto research design and used 10 selected consumer goods firms. The impact of independent variable proxies as current ratio, cash conversion cycle and inventory turnover on dependent variable proxy as earnings per share. Pooled data were collected from published annual report of the selected firms from 2011-2021 and analyzed using OLS. Specifically the study sought to determine the impact of current assets ratio, cash conversion cycle and inventory turnover on earning per share of the selected consumer goods firms listed on the Nigerian stock exchange with Rsquared of 75.79%, Adjusted R-squared of 74.34% and PValue of 0.4943 > 0.05). Adjusted R-squared of 74.34% and P-value of 0.001<.05. Cash conversion cycle has insignificant impact on the earnings per share of the selected firms with R-squared of 75.79%, Adjusted Rsquared of 74.43% and P-value of 0.4688 > 0.05). Inventory turnover ratio has significant impact on the earnings per share of the selected firms with R-squared of 75.79%, Adjusted R-squared of 74.43% and P-value of 0.0002< 0.05). The finding of the study revealed that Current ratio has insignificant impact on the earnings per share EPS of selected firm it is recommended that for the purpose of maximizing earnings per share, managements should pay attention to quick ratio and inventory turnover ratio as they influenced financial performance. [ABSTRACT FROM AUTHOR]

Each country's banking system plays a crucial role in its economic development. Without a sound banking system, no economy can exist. In the current banking environment, due to the increasing complexity of the banking system financial performance evaluation is becoming increasingly important. Thus, the financial health of banks has been regularly evaluated. The present study focuses on the performance appraisal of five public sector banks i.e., SBI, Bank of Baroda, Canara Bank, PNB and Union Bank. Regression Analysis, WACC, and CAMEL Model are some of the tools used to measure bank's performance via., CAMEL parameters this evaluation has been done. This is a well-established method of comparing the performance of financial institutions as well as banks. This way of evaluating banks' performance is widely recognized. This model evaluates a bank's performance based on several factors, including capital sufficiency, asset quality, management, earnings, and liquidity. To determine capital adequacy in the current research, we took into account: Capital Adequacy Ratio and Government Securities to Total Investments Ratio. To measure asset quality we considered: Total Investment to Total Assets and Net NPA Ratio. To measure Management efficiency we considered: Business per employee and Profit per employee. To measure earnings quality we considered: EPS (Earnings per share); Operating Profit to Average Working Funds and Dividend payout ratio. To measure liquidity we considered: Investment to total deposits and Government securities to total deposits. The study has considered a period of six years i.e., from 2017 to 2022. The primary objective of the present study is to focus on the performance appraisal of five Indian banks all the banks are public sector banks viz., SBI, Bank of Baroda, Canara Bank, PNB and Union Bank. Apart from that, this study also gives a ranking with the help of the overall performance of banks. This study has used secondary data sourced from annual reports of Banks and also taken help from few websites. Various financial ratios and averages have been used to analyze the information collected. [ABSTRACT FROM AUTHOR]

In this study, the financial performance ranking of the companies included in the BIST Corporate Governance Index for the period 2019-2021 was made using the CRITIC-MABAC and ENTROPY-MABAC methods. Return on assets, return on equity, gross profit margin, net profit margin, EBIT margin, earnings per share and market value/book variables were used as evaluation criteria in the research. In this context, the weights of the criteria were calculated with the CRITIC and ENTROPY methods, which are among the methods of determining the criteria weights objectively, and then the financial performance ranking of these companies over the years was carried out with the MABAC method. Performance rankings obtained by ENTROPY-MABAC and CRITIC-MABAC methods were compared. As a result of the analysis, it was determined that the company with the best performance in 2019 according to the CRITIC-MABAC and ENTROPY-MABAC methods was the LOGO company, and the company with the best performance in 2020 and 2021 was the PRKME company. [ABSTRACT FROM AUTHOR]

The objective of this research is to study the influence of Working Capital Management (WCM) and its components on a firm’s Financial Performance (FP). In addition, it aims to examine the moderating consequence of Earnings management (EM) on the association between WCM and the firm’s FP. For the five-year study period from 2014 to 2018, a sample of 61 companies registered on the Egyptian stock exchange EGX was employed. The study hypotheses are tested using the Panel Least Squares (PLS) and Estimated Generalized Least Square (EGLS) regression analyses. The findings showed that WCM as measured by Cash Conversion Cycle (CCC) had a considerable negative influence on the firm's FP as measured by Return on Assets (ROA), Return on Equity (ROE), and Earnings per Share (EPS). It is concluded that the efficient management of WC can be achieved through shortening Average Days of collecting Receivables (ADR) and Average Days of holding Inventory (ADI) and lengthening Average Days of payment of Payables (ADP) as possible which in turn will be reflected positively on overall firm’s FP. Finally, the results indicated that the involvement of EM practices measured by the modified Jones model (1995) strengthens the association between WCM and ROA. Thus, managers use EM practices in the process of WCM to improve a firm’s FP measured by ROA. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to explore the relationship between sustainability reporting and the financial performance of companies listed on the Saudi Stock Exchange as one of the emerging markets. Design/methodology/approach: The study collects data from the corporate annual reports of a sample of 67 companies listed on the Saudi stock exchanges during the period 2016–2019. Financial performance has been measured using four accounting-based measures: return on assets, return on equity, return on capital employed and earnings per share. The relationship between financial performance and sustainability reporting has been estimated using a sustainability index that includes three dimensions (environment, health and safety, and social responsibility). Findings: The results reveal that the sustainability reporting of Saudi companies, in general, is low. The results also indicate that there is a positive relationship between corporate financial performance and sustainability reporting, whether for the composite index or the three sub-indexes. However, this positive relationship is not statistically significant. Research limitations/implications: Results of this study are limited to the context in which the study was conducted, which is the Saudi stock exchange from 2016 to 2019, and then the generalization of the results may be limited to listed companies operating in a similar social and economic context. The study also depends on accounting-based measures for financial performance without using market-based measures. Originality/value: This study comes at the appropriate time with Saudi Arabia's adoption of a comprehensive economic plan called "Saudi Vision 2030", of which sustainability is at the heart. Despite the efforts of the Saudi government to support sustainability, studies on this issue are still very few. [ABSTRACT FROM AUTHOR]

The most prevalent forecasts of firms' long-term earnings issued by analysts are 2-yearahead earnings per share (EPS) estimates. When introduced by analysts, 2-year-ahead EPS estimates set market expectations for firms' future earnings. Subsequent revisions to these estimates are highly correlated with contemporaneous changes in stock prices. We examine whether such revisions are sufficiently predictable to enable investors to earn abnormal returns on hedged portfolios. We find that analyst forecast revisions are predictable and document an implementable strategy for investors. Consistent with investors' fixation on unscaled EPS, the strategy earns positive abnormal returns using unscaled EPS revisions but not when revisions are scaled by the level of the EPS estimate or the stock price. Abnormal returns are found for firms with low analyst coverage, consistent with a greater initial mispricing from analyst optimism for firms with poorer information environments. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association 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.)

The present study aims to shed light on the impact of capital structure determinants on the financial performance of a public economic firm listed on the Algerian Stock Exchange, represented by the Saidal Group, during the period from 2010 to 2021. Furthermore, the study relied on the financial statements (balance sheet and income statement table) published on the official website of the stock exchange to collect the financial data of the firm. In pursuance of this aim, three multiple models were estimated in which dependent variables expressing financial performance were represented in each of the return on assets (ROA), return on equity (ROE), and earnings per share (EPS), while the independent variables expressing the determinants of the capital structure were represented in each of the ratio of medium and long-term debt to total assets (MLTDTA), the ratio of shortterm debt to total assets (STDTA), and the self-financing capacity (SFC). In addition to this, the control variables were used in the models to represent the liquidity and size of the firm, which was measured in the Neperian logarithm of its total assets. The study reached a set of results, the most important of which are the presence of a statistically significant positive relationship between the capital structure, as measured by the firm's self-financing capacity, and the financial performance with its three indicators, as well as the existence of a statistically significant negative relationship between the ratio of medium- and long-term debt to total assets and financial performance. As for the ratio of short-term debt to total assets, it has a negative and statistically insignificant impact on both the return on assets and the return on equity, but also has a negative and statistically significant impact on earnings per share. In light of this, the study recommends that the firm should rely on internal financial sources rather than external financial sources to finance its various investments in order to improve its future financial performance. [ABSTRACT FROM AUTHOR]

This study sought to examine the impact of environmental and social disclosure practices on financial performance and firm profitability. Data was collected from the annual statements and financial reports of twelve commercial banks listed in Bursa Istanbul. Profitability variables were determined through return on assets, return on equity, and earnings per share, concerning environmental and social disclosure information, it was measured according to GRI. Accordingly, correlation testing and regression analysis were used to identify the relationship and impact of environmental and social disclosure at the end of 2019 on the profitability of banks at the end of 2020. The results of the study indicated that there was not a significant relationship or effect of environmental and social disclosure on profitability in commercial banks listed on the Bursa Istanbul. Thus, the alteration in profitability cannot be predicted by the change in the level of environmental and social disclosure. Regarding the level of disclosure in general is good and acceptable, as it reaches the level of 58% and an average of 30% for social disclosure and a level of 60% and an average of 26% for environmental disclosure. [ABSTRACT FROM AUTHOR]

Purpose: The study aims to analyze the effect of financial soundness on financial performance of commercial banks in Kenya. Design/methodology/approach: The study used dynamic panel model to analyze data from commercial banks for the period 2009 to 2020. The study was modeled on the concept of CAMEL approach using five CAMEL variables as financial soundness indicators. Four indicators that is, net interest margin (NIM), earnings per share (EPS), return on assets (ROA) and return on equity (ROE) were used as measures of financial performance. Findings: Generalized method of moments results established that financial soundness had a statistically significant effect on NIM, ROA and ROE. It was also found that asset quality and earning quality had a statistically significant effect on net interest margin. In addition management efficiency had significant effect on ROE. However, the study established that capital adequacy, asset quality, earning quality and liquidity had a statistically insignificant effect on ROA and ROE respectively while capital adequacy, management efficiency and liquidity had statistically insignificant effect on NIM. Practical implications: Bank managers should put into place effective financial policies to govern changes in CAMEL variables to ensure optimal banks' financial soundness to facilitate positive growth in banks' financial performance. Originality/value: The current study is modeled on the concept of the CAMEL approach by employing the five CAMEL variables as financial soundness indicators. In addition, the study contributes to local literature by examining banks in a developing economy to provide reliable and relevant information on their differences to monitor their dynamics in financial soundness and financial performance which could not be provided by regional or global studies. [ABSTRACT FROM AUTHOR]

Since the industrial revolution, greenhouse gas emissions, especially carbon dioxide (CO2) emissions, cause climate change. In addition, the stakeholders of the firms are conscious about the management of climate change risks and demand non-financial information as well as financial information from the firms. Therefore, in the fight against climate change, firms provide explanatory information in sustainability and Carbon Disclosure Project (CDP) reports to their stakeholders about what they do to reduce greenhouse gas emissions and the number of emissions over the years. Because the amount of carbon emissions is not only for global warming, but also affects the financial performance of firms and jeopardizes their sustainability. In this context, the purpose of the study is to investigate the effect of carbon emissions on the financial performance of non-financial firms listed in the BIST100 Index in the period of 2014-2021 with panel regression models. Accordingly, the relationship between firms' total carbon emissions and financial performance indicators (return on assets, return on equity, Tobin's Q, net profit margin and earnings per share) has been tested. The findings show that although there is a significant and negative relationship between carbon emissions, return on assets and earnings per share, there is no significant relationship with other financial performance indicators. [ABSTRACT FROM AUTHOR]

Purpose: This study aimed to analyze the relationship between executive remuneration and the economic-financial and socio-environmental performance of publicly traded Brazilian companies. Methodology: The study sample comprises companies in the Brazil Index 50 (IBrX-50), portfolio from May to August 2020. After exclusions, the final survey sample is composed of 34 companies, with a total of 68 observations and the period of analysis was the years 2018 and 2019. Data were collected manually in the Reference Form, item 13 and on the website of each company. For data analysis, statistical techniques were used, such as descriptive, correlations and multiple linear regressions. Results: For model 1, the Return on Equity (ROE) and Business Sustainability Index (ISE) variables showed significant and negative relationships with the RTM, indicating that the higher the ROE of the companies, the lower the Average Total Compensation (RTM). Also, the variable ENVID showed a significant and positive relationship, where the higher the company's Total Debt (ENDIV), the higher the RTM. For model 2 of Fixed Compensation (RF), the ROE also presented a significant and negative relationship. The Earnings per Share (LPA) and ENDIV variables showed a significant and positive relationship, indicating that higher values in these variables will increase the RF given to executives. Contributions of the Study: This study contributes to the literature on compensation and performance by adding social and environmental variables to the theoretical and practical framework through the interconnection of executive compensation. Thus, it was possible to understand new relationships between traditional economic-financial and socio-environmental factors, while good communication and good governance practices with stakeholders present positive results for the organization. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Administration & Economics 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.)

The study examined the relationship between ownership structure and financial performance of commercial banks in Kenya for the period 2009–2020. The data were collected from audited financial statements of 39 commercial banks in Kenya. Regression results found strong evidence on ownership structures in explaining the differences in commercial banks' financial performance. The results established that the greatest influence of ownership structures was on net interest margin at 53.04% and return on assets at 31.37%. Influence of ownership structures was found to be low on return on equity at 3.32% and earnings per share at 2.13%. The results found a negative association between state ownership and net interest margin, negative association between management ownership and both net interest margin and earnings per share, negative association between institutional ownership and return on assets and a negative association between foreign ownership and earnings per share. Based on the findings, commercial banks should vary their ownership structures to boost financial performance. Secondly, banks with high percentage of state ownership should consider partial privatization to improve corporate governance practices. Third, banks should adopt managerial ownership policy limiting the proportion of equity stock on executives to limit their powers in strategic decision making. Fourth, the study proposes a percentage limit on equity stock of an individual institutional investor. Lastly, the study proposes that bank's management to come up with a policy detailing the role and place of foreign investors in strategic decision making to ensure their presence in every decision undertaken by bank managers. [ABSTRACT FROM AUTHOR]

The purpose of the present study was to investigate the effects of entrepreneurial orientation on financial performance by considering the moderating role of accounting information quality. The research method was correlational and the data were analyzed using structural equation modeling. The statistical population included the companies listed on Tehran Stock Exchange (TSE), which were selected and studied through the systematic elimination of 140 companies in the period of 2012-2019. The statistical results of the 1st and 2nd research hypotheses showed that the criteria of entrepreneurial orientation improved the indicators of financial performance (accounting and economics) and those of the 3rd hypothesis revealed that the criteria of entrepreneurial tendencies ameliorated the quality of accounting information. According to the 4th and 5th hypotheses, financial performance (accounting and economics) also improved the quality of accounting information. The 6th hypothesis indicated that the quality of accounting information made better the impact of entrepreneurial orientation on performance based on the accounting data. However, the results of the 7th hypothesis demonstrated that the quality of accounting information had a negative effect on the relationship between the entrepreneurial orientation criteria and indicators of economic performance in Tehran Stock Exchange (TSE). [ABSTRACT FROM AUTHOR]

In this research paper, the author attempted to measure the profitability as well as financial performance of the FMCG sector of India for a period from 2004 to 2018, considering seven FMCG companies listed on BSE and NSE in India. To judge the financial performance of the companies with the help of profitability trend analysis is one of the modern concepts of performance measurement. In this research paper, five profitability ratios such as return on net worth, earnings per share, dividend per share, dividend pay-out ratio, and return on capital employed for 15 years have been collected and found out composite ratios by using 'paid up capital' as weight and obtained the weighted mean of these ratios. Mann-Kendall test has been applied to test the trend of profitability of the selected ratios. After analysis, it has been noticed that there is a significant trend in the profitability ratios. In all the cases, a positive trend has been noticed. Therefore, we can say that the investor can invest their fund in these companies considering the COVID-19 situation also. [ABSTRACT FROM AUTHOR]

Copyright of Revista Fatec Zona Sul (REFAS) is the property of Revista Fatec Zona Sul (REFAS) 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.)

The extant research has established that there is a pioneering market share advantage when the product category is successful, and under certain other conditions. This finding has been found across many product categories. Applying this database of empirical knowledge, the paper addresses the following two important research questions. 1) How does the market share advantage to early entrants impact the Fifth Generation (5G) network technology market structure? 2)How is financial strength of a firm related to market entry of its brand? To analyze and understand these questions of import, we examine the Fifth Generation (5G) network market. And in this context, we assess the position of the market pioneer Huawei and other players. We show that the early entrants enjoy a sustained market share advantage in technology product/service markets. More specifically, we show that the market share advantages (disadvantages) can be quantified in a monotonic relationship using a generalized empirical formula. We also show that financially stronger firms (operationalized by percentage change in earnings per share) tend to enter the market early, and thus secure the market share advantage. Huawei benefits from these market phenomena.

The current study investigated the effect of energy efficiency on financial performance using industry type as a moderating variable. It has been discovered that there is an inconclusiveness of findings in existing literature regarding the link between energy efficiency and financial performance. The study adopted a quantitate research method using secondary data. Panel data was collected for 8 years from 16 firms listed on the FTSE/JSE. The panel regression model was used to run the panel data. Specifically, the Feasible Generalized Least Squares was used, The findings showed that attaining energy efficiency significantly and negatively influence financial performance (EPS) of the firms considered in this study. Interestingly, the link between energy efficiency and financial performance (EPS) improved from negative to positive when the moderation effect of industry type was introduced. Practically, the findings of this study should assist managers of listed companies to invest in energy efficiency initiatives beyond just compliance but as a strategy to enhance operational efficiency and drive positive financial performance. The novelty of this study is that it further tested the moderating effect of industry type on the energy efficiency and financial performance nexus which generated new empirical findings which were lacking in South Africa. [ABSTRACT FROM AUTHOR]

This research paper emphasizes on Promoters' Equity Shareholding pledging and its relationship with Financial Distress and Financial performance. Today many Companies (listed on Indian Stock Exchange promoters) are pledging their Equity shares for various purposes. In this study we have selected six group companies of the Renowned and well-known corporate house namely Future Group which are listed on National Stock Exchange. The promoters of this companies have off late ledged their equity shares with Financial Intuitions. Financial distress is a condition in which a company or individual cannot generate sufficient revenues or income, making it unable to meet or pay its financial obligations. The main aim of the research undertaken is to find out whether company is in Financial Distress using 10 years data for the company Future Group. Data collected on various financial parameters from the year 2010 till 2021. The method used is a case study method with specific company only. The research also tries to find Before and After pledge financial performance and Financial Solvency position using Altman Z Score Model. For Analyzing the Before and After Promoters' Equity Share Pledging on the Financial Performance of the company Independent Sample T Test was Carried out on the Data. Proxy for the financial performance were Earnings per Share, Net profit Margin, Debt Equity Ratio, Current Ratio, Return on Assets and Assets Turnover Ratio. The current study used financial performance indicators viz Net Sales, Total Assets, Retained Earnings, Working Capital etc. The Altman Z score is used for analyzing the data and interpret the financial distress of the company. Financial statement analysis and various financial ratios are used for analysis. The research is based on secondary data and data is mainly collected from Bombay Stock Exchange website and annual reports published. The Research findings were that in the year 2020-2021, five of the Six Group companies were in financial Distress. Other findings were post ledge Asset Turnover Ratio, Earnings per share, Net profit margin, Return on Assets and Assets Turnover Ratio have declined. [ABSTRACT FROM AUTHOR]

This research integrates business analytics with enterprise risk management to help firms implement a decision support war-room. In particular, this study explores the hidden states of the small- and medium-sized enterprises (SMEs) which financial performances tend to intensively rise and fall. In practice, managers need to know what indicators can be good predictors to predict bankruptcy and what actions should be taken before bankruptcy? Thus, a novel framework is presented to achieve the following goals: (1) hidden Markov model is constructed to relate firms' hidden states (healthy, risky, and sick) to observable variables (ROA—return on asset, EPS—earnings per share, and NPBT—net profit before tax). (2) Ensemble learning (EL) like random forest (RF), adaptive boosting (AB), and gradient boosting (GB) is used to conduct business forecasting. (3) Probabilistic Bayes network (PBN) is used to conduct stochastic risk simulation. Data samples collected from various industry sectors (semiconductor, optoelectronics, consumer electronics) are used to justify the validity of this research. Experimental results identify cash equivalents, gross sales profit, and operating revenue can efficiently enhance the SMEs from risky states to healthy firms. In contrast, operating profit margin and net income margin are more effective to improve the SMEs from sick states to risky firms. Managers are suggested to continually monitor and track these key indicators. [ABSTRACT FROM AUTHOR]

Copyright of Managerial 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.)

The recent development of integrated reporting intends to address the limitations associated with corporate reporting practices. This paper aims to examine whether a statistically significant relationship exists between integrated reporting quality and financial performance. Secondary data was used, namely the integrated reports and annual financial statements of South African banks listed on the Johannesburg Stock Exchange (JSE) for 2010–2014. For the period 2005–2009, only the financial statements were used, since integrated reporting was not yet mandatory. The research design was longitudinal and it combined qualitative and quantitative methods. Descriptive statistics and Feasible Generalized Least Square (FGLS) were used to explore the relationships between financial performance and integrated reporting quality. The results indicate that there is a positive relationship between integrated reporting quality (IRQ) and earnings per share (EPS). However, there is no significant relationship between IRQ and Tobin’s q (Q-Ratio), IRQ and return on equity (ROE), IRQ and return on assets (ROA) as well as IRQ and economic value added (EVA). Moreover, there are no significant differences on the financial performance of the listed banks before and after the introduction of integrated reporting.

Securities analysts’ predictions of firms’ earnings per share constitute important performance targets for those firms. Firm managers attempt to both influence analysts’ targets and achieve the targets. We draw on the impression management literature to offer hypotheses regarding how a firm’s performance relative to prior targets influences the impression management activities of issuing forecast guidance, having conference calls with analysts, and issuing press releases. We also consider the influence of these impression management activities on subsequent analysts’ targets. We test this dyadic representation of impression management activities using a longitudinal panel of large firms. Findings suggest managers take a variety of actions that vary with firm performance, and that some of those actions influence subsequent analyst targets under some conditions. [ABSTRACT FROM AUTHOR]

Jorgensen, Lee, and Rock (2013) provide evidence that discontinuities (1) exist in distributions of reported earnings per share both before and after the adoption of SFAS 128 but (2) do not exist in distributions of earnings per share as subsequently restated for previous years after adoption of SFAS 128. These results are consistent with management of reported earnings to meet benchmarks but inconsistent with artifactual explanations for discontinuities, such as the Durtschi and Easton (2009) explanations based on scaling and selection. These results contribute to our understanding whether discontinuities represent evidence of earnings management or instead are due to artifactual explanations. [ABSTRACT FROM AUTHOR]

Considerable debate continues regarding the use of earnings histograms as evidence consistent with earnings management. Durstchi and Easton (2005) offer scaling and sample selection as alternative explanations for apparent discontinuities in cross-sectionally pooled histograms of earnings. We revisit the broad question of whether irregularities in reported earnings numbers can constitute evidence consistent with earnings management. We use a matched-pair design to avoid sample selection issues and study three irregularities in reported earnings per share (EPS). We first study the discontinuity pattern in the last digit (cents) of reported EPS noted by Thomas (1989) that the last digit of EPS is more likely to be zero or five and less likely to be nine for profit firms while the pattern does not appear for loss firms. Second, we consider the threshold irregularity in EPS changes noted by Degeorge, Patel, and Zeckhauser (1999), that one cent decreases are underrepresented, relative to expectations. Third, we also revisit the rounding pattern in (unreported) third decimals of EPS noted by Das and Zhang (2003) that the one tenth of a cent is more likely between five and nine for profit firms. Our study enhances confidence in each reported irregularity’s validity by identifying matched pairs of firm-years reporting EPS under two measurement regimes: one in place during the reporting period in real time, the other subsequently reported to conform to a new reporting standard. We report evidence consistent with EPS management that is not plausibly attributable to either sample selection or scaling. [ABSTRACT FROM AUTHOR]

This study has been conducted with an aim to find the impact of Enterprise Risk Management (ERM) Implementation on the Financial Performance of the world Takaful Industry. In this regard, ERM implementation level has been measured. There are also employed two control variables in the study that are age and Gross Domestic Product (GDP). On the other side the financial performance is measured in terms of its indicators Return on Investments (ROI) and Earnings Per share (EPS). A sample of 30 Takaful Firms from 10 countries has been taken for a period of 4 years (2014-2017). The study is quantitative in nature and secondary data has been used for this purpose. The hypotheses are being tested one by one through correlation and regression analysis. The findings can be utilized for the advancement of ERM within the Takaful Industry, making it strength of industry rather than a business risk. [ABSTRACT FROM AUTHOR]

The objective of financial management theory is to maximize the wealth of shareholders. To analyze how effectively the firm is contributing wealth to its shareholders is not only important for management of the firm but also for the other financial information users. In order to evaluate the financial performance of the firm, a variety of financial performance measures such as economic value added (EVA) are used. Since the early 1990s, EVA has been known as the crucial important management tool for valuing investments and assessing corporate performance. The purpose of this study is to determine the relationship between financial market performance measurements and EVA in the BIST financial institutions. In this study is used Panel Regression models for a sample of 122 Turkish financial industries operated from the BIST financial institution index for the period of 2008-2017. Our study findings suggest that EVA is significantly association link earnings per share and TOBINQ from market performances measure. In addition, our findings result show that EVA is significant and positive effect between earnings per share and market value by divided book value ratio during the global financial crisis period, while EVA is significant and negative effect on TOBINQ. [ABSTRACT FROM AUTHOR]

Background and Purpose: In recent years, the frequent occurrence of occupational accidents, illness, and injuries has become a major issue in China. This study aims to investigate the relationship between the adoption of Occupational Health and Safety Management System (OHSMS) standards and financial performance, with a particular focus on the pharmaceutical firms in China. Methods: The study is based on a sample consisting of 125 pharmaceutical firms listed on the Shanghai and the Shenzhen stock exchanges in China for the period 2010– 2018. Each sample firm was evaluated by whether and when it is certified by an OHSMS standard depending on secondary data collected from an independent certification database. Panel-based regression models were employed to explore whether adoption of an OHSMS standard has had an impact on financial performance. Results: The regression results reveal that the adoption of an OHSMS standard positively affects contemporaneous financial performance measured by return on assets (ROA), return on equity (ROE), and earnings per share (EPS). Mixed results were found when financial performance indicators were extended by two years, suggesting that ROE will increase in the second year after a firm is certified with the standard, but EPS will decline in the third year. Conclusion: The study findings empirically show that adoption of an OHSMS standard contributes to better financial performance for pharmaceutical firms of China in the short term. However, executives of pharmaceutical firms need to be aware of the increased costs related to certification renewal and audit in the following periods and exercise their management discretion to achieve a win–win situation between OHSMS implementation and financial benefit. [ABSTRACT FROM AUTHOR]

We survey the use of financial performance measures in determining executive pay among significant Australian financial institutions. We document evidence of the pervasiveness with which externally disclosed non‐GAAP (non‐Generally Accepted Accounting Principles) financial measures are also used internally to determine variable remuneration, with the apparent popularity of cash profit after tax in short‐term incentives plans. Our evidence also highlights the increasing use of peer group‐adjusted measures (e.g., relative cash earnings per share and return on equity ranking against a peer group) in determining longer‐run incentives, despite the fact that members of the peer group do not measure financial performance in a directly comparable manner. Detailed analysis of the four major trading banks (Australia and New Zealand Banking Group, Commonwealth Bank, National Australia Bank and Westpac) reveals differences in the way non‐GAAP earnings measures are calculated across the major banks, as well as some variation over time in the way individual banks measure performance. We also document evidence of non‐GAAP earnings restatements, with around 25% of non‐GAAP results subsequently being restated. These restatements are more likely to result in a downward revision of the initially reported non‐GAAP result than an upward revision. We therefore conclude that existing measures of financial performance used to determine senior executive compensation are not as 'objective', as might be assumed. [ABSTRACT FROM AUTHOR]