The effect of financial performance and corporate governance to stock price in non-bank financial industry (original) (raw)
2011
agrometeorological climate risks and uncertainties: Crop production in Uganda. S Afr J Sci. 2012;108(3/4),
International Journal of Managerial Finance Article information
Purpose – The purpose of this paper is to investigate the influence of cash holding, political connection and their interaction effect on earnings quality in the Malaysian environment, where political influence plays a vital role in many aspects of business dealings and resources allocation is seriously affected by politics. Design/methodology/approach – This paper uses ordinary least square and seemingly unrelated regressions upon a sample of the Malaysian top 100 listed firms. Findings – This paper finds that earnings of firms with excess cash reserves are of high quality. Consistent with previous research, the study finds that investors perceive earnings numbers of politically connected firms as being of low quality. However, this research fails to support an expectation that the adverse consequences of holding a large amount of cash to earnings quality would be more pronounced when political extraction is high. The findings of this study suggest that policy makers should encourage or mandate firms to disclose information in relation to their connections with government, political party, or politicians so that investors and all interested parties can use the information to better assess the firms’ earnings quality. Originality/value – This research is considered as the first attempt to examine the relationships between cash holdings, political connections, and earnings quality in a developing country
Cite This Paper in the following Citation Styles (a): [1] Niu Weining
Universal Journal of Accounting and Finance, 2021
Residual income model in equity valuation has emerged as a useful reference for investment decisions on account of its theoretical foundations for analytical accounting research and also the basis of modelling for empirical study on value relevance. However, since investors have disagreement on firm's future earnings, it may have an effect on firm's evaluation and hence affect stock price. The paper extends the residual income model by incorporating investors' heterogeneous beliefs on the persistence of residual income, and then tests the theoretical findings through numerical simulation. The model implies that the relation between stock price and heterogeneous beliefs depends on the sign of residual income, and the impact of informed traders on stock price relies on the interaction effect of heterogeneous beliefs and residual income. The numerical simulation results prove that under the circumstance of positive heterogeneous beliefs, if residual income is also positive, stock price has a positive relation with heterogeneous beliefs and amount of informed investor; while if residual income is negative, stock price has a negative relation with heterogeneous beliefs and informed trading. The findings of the paper provide some useful theoretical implications on the effect of heterogeneous beliefs on equity valuation via residual income framework. Research limitations mainly exist in the strict theoretical assumptions, which can be loosen in further researches to make the model closer to real market.
2016
The effects of physiochemical parameters on planktonic species population of Keenjhar lake, district Thatta, Sindh,
Scientific Publication Analysis: Financial Reporting Quality Insight
International Journal of Recent Technology and Engineering (IJRTE), 2019
After most shocking accounting scandals happen to Enron and WorldCom, most of the countries around the globe started to analyse their existing financial standards realising the importance to have sturdy corporate governance in order to produce high quality financial report. To further understand the nature of the research topic, a broad of research association is necessary. This study focus on conducting bibliometric analysis, with the objective to determine the research trend especially in FRQ area based on total publications, co-authorship among countries and authors, and co-occurrence of authors keywords. Bibliometric analysis is a method of analysing database publication trend based on specific area such as FRQ, risk and economics. By using Scopus database, total of 396 articles is extracted between 1993 to 2018. The result suggested that, the interest on FRQ study start to bloom from 2008 and experience a steady increment until 2018. About 50 percent of the total global publica...
Citation Patterns in the Finance Literature
Financial Management
Out of a total of 12,637 individuals who published at least one article in the leading finance journals over the past 25 years, the top 1% (10%) account for more than one third (three quarters) of the number of citations to articles published in these journals. In contrast, nearly one half of the authors have been cited only once. These results indicate that a few prominent researchers dominate citation in the top finance journals. We explain these empirical regularities using a stochastic model of citation.
Published, not perished, but has anybody read it? Citation success of finance research articles
Applied Financial Economics, 2012
Citation counts are widely used in academia in hiring, tenure, promotion, salary increases, merit pay as well as to rank departments, journals and authors. However, no previous study examined the factors that influence citations in finance journals. This article examines how the number of citations is affected by authors' collaboration, advertising and 'salesmanship' efforts, journals rank, article placement in the journal, and authors' experience. We employ 16 years of data and use the Tobit model to study the number of citations. Also, we use the hazard model to estimate the probability of an article being cited for the first time. The empirical results show significant relation between the number of citations and the ranking of authors' university, placement of an article in a journal, the length of an article, and the number of references included but no significant effect of collaboration, grant support, and the number of presentations and acknowledgments. Additionally, we conclude that it is important to use a long time series data to analyse citations in finance.
Citation Analysis of Economics Thesis Submitted to Goa University
Library Philosophy and Practice, 2021
Research may be applied or fundamental, quantitative or qualitative, whatever be the type of research, its purpose is to discover answers to question through the application of scientific procedures. The present study aims to citation analysis of the Ph.D. thesis submitted to Goa University in the Department of Economics for the period 1995-2019. Total 27 theses submitted during this period are taken up for the study. The total citations generated is 5405. From this study, it is found that Books are the most preferred source of information used by research scholars in the field of economics. The citations pertained to journals, books, reports, working papers, newspapers, websites etc.