Abstract: This paper offered the primary methodical proof on how Corporate Social Responsibility (CSR) reporting related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprises from 2006 to 2020 over two decades in the China Stock Market & Accounting Research database, we found initial evidence of significant direct relations between CSR reporting and firm corporate performance in both state-owned and privately-owned firms over this period, supporting the stakeholder theory. Results also revealed that state-owned enterprises performed as well as private enterprises in the current period. But private enterprises performed better than state-owned enterprises in the subsequent years. Moreover, the release of social responsibility reports had the more significant impact on the financial performance of state-owned and private enterprises in the current period than in the subsequent periods. Specifically, CSR release was not significantly associated to the financial performance of state-owned enterprises on the lag of the first, second, and third periods. But it had an impact on the lag of the first, second, and third periods among private enterprises. Such findings suggested that CSR reporting helped improve the corporate financial performance of state-owned and private enterprises in the current period, but this kind of effect was more significant among private enterprises in the lag periods.
Abstract: Location selection presents a crucial decision problem in today’s business world where strategic decision making processes have critical importance. Thus, location selection has strategic importance for companies in boosting their strength regarding competition, increasing corporate performances and efficiency in addition to lowering production and transportation costs. A right choice in location selection has a direct impact on companies’ commercial success. In this study, a store location selection problem of Carglass Turkey which operates in vehicle glass branch is handled. As this problem includes both tangible and intangible criteria, Analytic Network Process (ANP) was accepted as the main methodology. The model consists of control hierarchy and BOCR subnetworks which include clusters of actors, alternatives and criteria. In accordance with the management’s choices, five different locations were selected. In addition to the literature review, a strict cooperation with the actor group was ensured and maintained while determining the criteria and during whole process. Obtained results were presented to the management as a report and its feasibility was confirmed accordingly.
Abstract: The research explores the relationship between
management responsibility and corporate governance of listed
companies in Kazakhstan. This research employs firm level data of
selected listed non-financial firms and firm level data “operational”
financial sector, consisted from banking sector, insurance companies
and accumulated pension funds using multivariate regression analysis
under fixed effect model approach. Ownership structure includes
institutional ownership, managerial ownership and private investor’s
ownership. Management responsibility of the firm is expressed by the
decision of the firm on amount of leverage. Results of the cross
sectional panel study for non-financial firms showed that only
institutional shareholding is significantly negatively correlated with
debt to equity ratio. Findings from “operational” financial sector
show that leverage is significantly affected only by the CEO/Chair
duality and the size of financial institutions, and insignificantly
affected by ownership structure. Also, the findings show, that there is
a significant negative relationship between profitability and the debt
to equity ratio for non-financial firms, which is consistent with
pecking order theory. Generally, the found results suggest that
corporate governance and a management responsibility play
important role in corporate performance of listed firms in
Kazakhstan.
Abstract: The objective of this paper is to establish a possible relationship between sustainable business practice and firm performance. Using a field survey methodology, a sample of sixty manufacturing companies in Nigeria was studied. The firms were categorised into two groups, environmentally 'responsible' and 'irresponsible' firms. An investigation was undertaken into the possible relationship between firm performance and three selected indicators of sustainable business practice: employee health and safety (EHS), waste management (WM), and community development (CD), common within the 30 'responsible' firms. Findings from empirical results reveal that the sustainable practices of the 'responsible' firms are significantly related with firm performance. In addition, sustainable practices are inversely related with fines and penalties. The paper concludes that, within the Nigerian setting at least, sustainability affects corporate performance and sustainability may be a possible tool for corporate conflict resolution as evidenced in the reduction of fines, penalties and compensations. The paper therefore recommends research into the relationship between sustainability and conflict management.
Abstract: The construction industry is the pillar industry in
China, accounting for about 6% of the gross domestic product. Along
with changes in the external environment of the construction industry
in China, the construction firm faces fierce competition. The paper
aims to investigate the relationship between diversified types of
construction firm and its performance in China. Based on generalist
and specialist strategy in organizational ecology, we think a generalist
organization can be applied to an enterprise with diversified
developments, while specialist groups are extended to professional
enterprises .This study takes advantage of annual financial data of
listed construction firm to empirically verify the relationship between
diversification and corporation performance establishing a regression
equation to econometric analysis. We find that: 1) Specialization can
significantly improve the level of profitability of listed construction
firms, and there is a significant positive relationship with corporate
performance; 2) The level of operating performance of listed
construction enterprises which engage in unrelated diversification is
higher than those with related diversification; 3) The relationship
between state-owned construction firms and corporate performance is
negative. The more the year of foundation is, the higher performance
will be; however, the more the year of being listed, the lower
performance will be.
Abstract: According to the theory of capital structure, this paper uses principal component analysis and linear regression analysis to study the relationship between the debt characteristics of the private listed companies in Jiangsu Province and their business performance. The results show that the average debt ratio of the 29 private listed companies selected from the sample is lower. And it is found that for the sample whose debt ratio is lower than 80%, its debt ratio is negatively related to corporate performance, while for the sample whose debt ratio is beyond 80%, the relationship of debt financing and enterprise performance shows the different trends. The conclusions reflect the drawbacks may exist that the debt ratio is relatively low and having not take full advantage of debt governance effect of the private listed companies in Jiangsu Province.