Capital Companies Research Articles

On the role of digital solutions in the development of an innovative environment for high-tech production and ensuring the priorities of the national economy

The relevance of the study is determined by the recently increased role of digital services and technologies in shaping the architecture of high-tech production and ensuring the priorities of the national economy. The development of digital services and services produces the emergence of ecosystems and the spread of customeroriented business models in the high-tech sector, the importance of which in the country's economy will only increase.The purpose of the study is determined by the need to study modern trends in the development of digital services and technologies that influence the development of the innovative environment of high-tech industries and ensuring the priorities of the national economy.Objectives: to explore the role of digital services and technologies in shaping the architecture of high-tech industries and ensuring the priorities of the national economy; to identify the periodization and content of the digital transformation of the national economy; to analyze the basic indicators characterizing the dynamics of the spread of digitalization processes; to explore the content and key characteristics accompanying the spread of digital platforms and ecosystems.Methodology: the research methodology is based on historical, logical and economic-statistical analysis regarding the processes of digital transformation in the national economy.The results of the study show that digital transformation in the national economy is actively spreading, involving an ever-increasing circle of participants and setting new imperatives in doing business related to the emergence and spread of digital ecosystems. However, the architecture of the largest domestic ecosystems has not been fully formed and they have not achieved their growth potential.Conclusions obtained as a result of the study indicate that digital services and technologies are a factor contributing to a multiple increase in the capitalization of high-tech companies involved in the development of digital transformation processes. Digital ecosystems have prospects associated with increasing their impact on the national economy and deeper integration into the socio-economic space in connection with the development of new digital technological solutions.

Election of Members of the Management Body of a Variable Capital Company

The article examines and analyzes issues related to the election of members of the management body of the Variable Capital Company. Emphasis is placed on the election decisions taken by the founders of the company and the general meeting of partners, the entry into force of the decisions, the quorum and majority for voting of decisions at a general meeting, the consent of the newly elected members and the restrictions regarding the membership of the management body of the company.

The impact of innovation and differentiation strategy on financial performance with emphasis on the role of risk management and intellectual capital

Purpose The purpose of this study is to investigate the impact of innovation and differentiation strategy on financial performance with a focus on the role of risk management and intellectual capital of companies listed on the Tehran Stock Exchange. Design/methodology/approach In this research, differentiation and innovation strategy criteria are the independent variables, performance criteria are the dependent variables and risk management effectiveness and intellectual capital are the moderating variables. The statistical population of this research includes all the companies listed in the Tehran Stock Exchange during the 10-year period, and 127 companies were selected as a statistical sample using the systematic elimination method. The research model fitting and hypothesis testing were carried out using structural equation modeling and SPSS, Smart PLS software. Findings The results of the hypothesis testing showed a positive and significant relationship between the innovation and differentiation strategy and the firm performance. In addition, effective management of risk and intellectual capital also had a significant and positive impact on this relationship. Research limitations/implications Given that this research was conducted at the Tehran Stock Exchange, it was difficult for the researchers to collect data. Also, since the Tehran Stock Exchange is a new market, a lot of research needs to be done in different areas of this market to identify the existing problems and shortcomings and to provide reasons for its growth and development. Practical implications According to the results of the research on the impact of intellectual capital and risk management on corporate performance and the impact of strategy on this relationship, this paper can expect to see an improvement in corporate performance and an increase in shareholder wealth as a result of applying the results of this research. Social implications Considering that corporate strategy, intellectual capital criteria and risk management to increase the financial performance of companies have informational content; therefore, according to the results of this research, an increase in the performance of listed companies is expected, and naturally, this increase in performance will lead to the prosperity of the economic sector, increase in job creation and as a result, improve the quality of social life. Originality/value In the Tehran Stock Exchange, by properly evaluating the financial performance criteria of companies and identifying the factors that increase intellectual capital and risk management, they provide the means to improve knowledge in this area of research.

About the approach to measure company’s network capital

In modern scientific literature the category of «capital» is beginning to be applied to a wide range of company assets that can bring economic benefits over a long period of time. Various researchers distinguish human, intellectual, social, network and other types of capital. This makes it urgent to develop new approaches to assessing various types of capital, taking into account their complementary specificity. Within the framework of this article the task is to propose a new approach to measure company’s network capital. Existing methods for estimating company’s value are often based on summing up the costs of individual types of capital. However, such an additive approach does not consider the complementary nature of different types of capital. The work proposes to use a multiplicative approach based on the modified Cobb–Douglas function, which takes into account property and network capital as well as the economic efficiency of the company. This approach takes into account the complementarity of different types of capital and their combined impact on the value of а company. Seven leading global companies in the IT industry (Microsoft, Apple, Oracle Corp., Alphabet, Baidu, Meta, Twitter) were chosen as the empirical basis for the study. The proposed approach made possible to compare the network capital of different companies and identify the factors influencing its accumulation.

Decent Work as An Impact Factor on The Human Capital of Companies in Tulancingo, Hidalgo

Objective: This study analyzes the elements that influence decent work in companies in Tulancingo, Hidalgo. This is because currently the personnel working in organizations infer that they do not have a decent job, due to the fact that there is no pleasant work environment, communication is not usually adequate, in addition to the fact that they do not provide training to perform their functions, which impacts on not having economic and job stability. With the results of this research, we intend to identify and relate the factors that impact human capital when having a decent job. Theoretical Framework: The study analyses related aspects of decent work, human capital and decent work, as well as human capital and decent work, the impact of decent work on social economic development, challenges in the implementation of decent work, aspects such as employment, social protection and labour rights. Design/Methodology/Approach: The methodology used in this research was a quantitative approach, with a total of 383 people from companies in the Tulancingo region, Hidalgo, considering the different sectors, in such a way as to obtain information corresponding to the variables of: employment, social protection, labor rights and social dialogue; which allowed to identify the most relevant elements that impact decent work. Findings: A measurement instrument was used that includes three dimensions of decent work, with a sample of 383 people. Among the results obtained, 53% feel comfortable in their workplace; however, only 42% feel identified with the company. This is related to working conditions, since 33% of people do not have the materials and supplies that allow them to carry out their work effectively, in addition to the fact that the workload is extreme and tiring. Social Impact: The identification of factors that influence decent work will be very useful for companies in Tulancingo, Hidalgo, because strategies can be implemented to have a better work environment, in such a way that operational efficiency is achieved within the different companies, achieving the participation of the members that make it up and having better results by meeting organizational objectives. Originality/Value: This research paper shows how social protection, labor rights and social dialogue impact employability and decent work in companies in Tulancingo, Hidalgo. The identification of factors will be of great relevance not only for organizations, but also for the personnel who work in them and contribute to their performance.

The Impact of Sustainability Reporting on the Cost of Capital of the Iraqi-Listed Companies

Purpose: The cost of capital is a critical factor influencing investment decisions and company financing. Sustainability reporting also enhances the strategic and organizational legitimacy of companies. Therefore, it is expected that sustainability reporting can influence company legitimacy with enhancing trust of companies, their capital costs is reduced. Based on this premise, the objective of this research is to investigate the impact of sustainability reporting on the cost of capital of companies listed on the Iraq Stock Exchange. Method: for testing of hypothesis Data from 33 listed companies on the Iraq Stock Exchange during the company's period of 2012-2022 was collected and analyzed using a multiple linear regression approach with a combination of panel data analysis. Result: Our findings indicate that Iraqi firms experience higher costs of capital due to their weak implementation of sustainability reporting. Conclusion: reporting on corporate sustainability activities can enhance reputation of companies and, by gaining legitimacy for the companies, their cost of capital is reduced. Implication: These findings can inform policymakers about the need to strengthen requirements for sustainability reporting. Also help investor to form an optimal portfolio based on the policy of companies in compliance with the sustainability reporting.

ANALYSIS OF THE APPLICATION OF ISLAMIC BUSINESS ETHICS (CASE STUDY OF LOPO MANDHELING COFFEE PANYABUNGAN MANDAILING NATAL)

Purpose: This research aims to examine how the Islamic business ethics present at Lopo Mandheling Coffee align with Islamic business ethics, in which the author conducts a study titled “Analysis of the Implementation of Islamic Business Ethics at Lopo Mandheling Coffee Panyabungan Mandailing Natal.” Methodology: The method used is a qualitative approach. At Lopo Mandheling Coffee, good Islamic business ethics have been implemented in accordance with the principles of unity, balance, free will, and responsibility. Results: It can be concluded that Lopo Mandheling Coffee has implemented Islamic business ethics as a competitive advantage. It is as if we have implemented the obligation of performing the five daily prayers, providing assistance and support to orphans as a form of social and environmental concern, as well as responsibility. Limitations : The author's suggestion is that Lopo Mandheling Coffee Panyabungan is expected to remain steadfast in applying the principles of Islamic business ethics, improve the quantity and quality of Human Resource management, and enhance the company's capital by seeking investors. Contribution : Islamic-based business ethics must be applied in today's highly competitive business environment. Keywords: Islamic Business Ethics; Application; Lopo Mandheling Coffee Panyabungan.

Relationship between return on invested capital and market value of oil and gas companies

Subject. The article addresses approaches and methods to calculate the rate of return (profitability) on invested capital of oil and gas companies based on financial statements, taking into account the stock market conditions. Objectives. The study aims at reconciliation (elimination of gaps) of market value indicators and financial indicators of oil and gas companies, using the economic value added model. Methods. We apply methods of forecasting, financial and factor analysis, and statistical methods on the basis of financial statements figures of the studied companies. Results. We analyzed the dynamics of profitability indicators and cost of invested capital for oil and gas companies in comparison with their market capitalization for 2015–2022, identified key factors influencing changes in ROIC, offered an adjusted approach to calculating the indicator, including the initial cost of invested capital. We tested the methodology and provided explanation of its practical significance, using the case of historical financial data and market capitalization of ExxonMobil. Conclusions. The study enabled to confirm the hypothesis that it is necessary to calculate the cost of fixed assets by the amount of total actual investments, net of accumulated revaluations to calculate the return on invested capital. In the numerator of the formula for this indicator, it is advisable to use profit before interest expenses, depreciation, income tax, and exploration, less investments to maintain current assets, and in the denominator – invested capital net of cash, current and non-current non-debt liabilities.

Analyzing YG Entertainment's Financial Impact: Addressing Brand Image Decline and Solutions

This research explores the impact of YG Entertainment's strategy in 2019 on the company's financial condition and image after a series of problems involving its artists in 2019. YG Entertainment, a prestigious South Korean entertainment company, faced major challenges, including prostitution-related controversies, drug scandals, and tax problems. These problems caused a decline in the value of the company's shares and raised concerns among investors and fans. This research aims to investigate the strategies implemented by YG Entertainment to recover from financial losses and assess the effect of these solutions on the company's financial condition. In addition, this research aims to measure the magnitude of losses experienced by YG Entertainment and the extent of financial recovery after implementing the strategy. Next, this research explores the importance of brand image in influencing the financial condition of entertainment companies. The research findings serve as a source of knowledge for readers who want to understand real cases of how companies overcome crises and their sequential impacts. For the author, this research contributes to knowledge and learning in exploring the dynamics of the entertainment industry which is full of challenges. Further research explored the problems faced by YG Entertainment in 2019, with scandals involving prominent artists. The impact of this problems on the company's share value and market capitalization is discussed, showing the seriousness of the challenges faced by the entertainment giant. YG Entertainment's solution involves the debut of a new boy band, re-planning the presence of artists who have been absent for a long time, and renewing contracts. Research shows that this strategy produces a positive response.Overall, this research provides valuable insight into the dynamic relationship between brand image, financial condition, and crisis management in the entertainment industry, using YG Entertainment as a case study.

Predicting Market Capitalization of Large Global Companies using Ordinary Least Square, Feedforward and Bayesian Neural Network Models

Predicting Market Capitalization of Large Global Companies using Ordinary Least Square, Feedforward and Bayesian Neural Network Models

Analysis of Motivation and Financial Effects of Stock Repurchase by Listed Companies Based on Tencent Holdings

With the gradual improvement of various systems in China's securities market, the advantages of stock buybacks have emerged, and the research object of this paper is the stock buyback event of Tencent Holdings in 2022. Through a comparative study of the financial data of Tencent Holdings, it is found that the motivation of Tencent Holdings' share repurchase includes (mainly potential motivation) the following, i.e., to improve the stock price, to improve the earnings per share, to optimize the capital structure of the enterprise, and to make full use of the cash flow. Tencent Holdings attempts to signal to investors that the company's share price is severely undervalued through share repurchases, attracting the attention of market investors, stabilizing and enhancing the share price, and increasing the overall market value of the enterprise. After analyzing the relevant financial indicators, this paper finds that share buybacks have no impact on Tencent Holdings' good solvency and profitability, which can enhance its operating capacity, and have not affected its shareholding structure. Against this background, this paper focuses on the motivation of Tencent Holdings' large-scale share buybacks on the Hong Kong Stock Exchange, as well as the chain reaction after the buybacks, and whether it can bring a positive financial effect to the enterprise is of significant significance to the maintenance of the listed company's market capitalization.

Identification of Criteria in the Integrated Reports of Brazilian Mixed Capital Companies: A Documentary Research for the Evaluation of Sustainable Performance

Objective: The objective of this study is to investigate and gather, through documentary research, the common criteria in the Integrated Reports of mixed capital companies, specifically financial institutions, for the period from 2020 to 2022. Theoretical Framework: This section presents the main concepts and theories that support the research, divided into: Accountability Unit, Mixed Capital Companies, and Integrated Reporting. These topics will serve as the foundation for understanding the research question and for supporting the study’s findings. Methodology: The methodology of this study involved a documentary research of the integrated reports published on the Federal Court of Accounts website and on the organizations' websites. First, the companies were selected, and then the integrated reports were gathered for analysis. Subsequently, the common criteria in the reports from 2020 to 2022 were identified. Analysis and Discussion of Results: The analysis of the Integrated Reports of Brazilian mixed capital companies, specifically financial institutions, for the years 2020 to 2022, revealed several common criteria used by these organizations in preparing their reports. As a result, the analysis showed that the most common criteria among mixed capital companies are related to General Contents, Economic Performance, Materials, Energy, Employment, Training and Education, and Diversity and Equal Opportunities. Research Implications: The implication of the research lies in the fact that the criteria identified through the analysis will serve as a foundation for other studies aimed at developing a multicriteria decision-making method, through group decision-making, capable of evaluating the sustainable performance of mixed capital companies. Originality/Value: The originality and value of this research lie in the identification of common criteria in the Integrated Reports of mixed capital companies, specifically financial institutions, between 2020 and 2022. This detailed analysis not only reveals significant patterns but also establishes a solid foundation for the development of multicriteria decision-making methods. This will facilitate the evaluation of the sustainable performance of these organizations, significantly contributing to the literature and providing new tools for researchers and professionals in the fields of sustainability and corporate transparency.

The Investment Evaluation Standards and Process of Venture Capital Industry in Taiwan: Taking T Venture Capital Company as an Example

Abstract The venture capital industry is characterized by high risk and high reward, demanding sharp market insight and strong assessment capabilities. This article examines the evaluation criteria used by T Venture Capital Company in selecting investment targets, offering a reference for the industry. The study utilizes a case study method, focusing on an experienced venture capital firm identified through the Taiwan Venture Capital Association's 2022 roster. Key findings from interviews and document analysis highlight five main criteria used by T Company: 1. Adjusting evaluation based on the investment stage and industry specifics. 2. Focusing on the entrepreneurial team’s background, skills, passion, and vision. 3. Prioritizing technological innovation and business model sustainability. 4. Ensuring a clear exit strategy with ongoing communication. 5. Conducting thorough due diligence for sound investment decisions. The study reveals that T Company relies on a mix of data, judgment, and flexibility in its decision-making process, adapting to each unique situation. Keywords: Venture Capital, Evaluation Criteria, Entrepreneurial Team, Technological Innovation, Due Diligence.

A Study of the Capital Structure Characteristics Across Diverse Industries

The matter of how a company's capital is structured is frequently discussed in literature related to this topic since 1950s. Nevertheless, theories on optimal capital structure are categorized into different approaches, with their features often controversial and conflicting. The aim of this article is to provide a comprehensive review of the characteristics as well as determinants of the capital structure in capital-intensive, labor-intensive, and tech & healthcare industries in different countries, based on two main theories in capital structure- pecking order theory and static trade-off theory. The paper also highlights the important relationship between financial leverage and the companys performance and therefore tries to find the optimal capital structure. The study is composed of two main sections. The first part is to organize the previous study and various definitions of capital structure and some relevant theories. The second part shows how features of the leverage ratio vary across industries and how companies create value out of it. This paper proposes, after examining previous literature, that the factors influencing the optimal capital structure vary among companies depending on their characteristics. Companies in various sectors have their preferences to make the most use of debt and equity. It is hard to generalize a specific optimal ratio that suits every corporation.

The Influence of the Composition of a Company's Capital on Financial Performance

In the aftermath of a pandemic, companies struggle with survival and expansion issues. Companies are increasingly paying attention to their capital structure, which is vital for competitiveness, profitability, and financial stability. This paper looks at how long-term debt ratio (LTDR) and short-term debt ratio (STDR) affect return on equity (ROE) and return on assets (ROA). This paper wants to untangle the complex interactions among the financial profiles of S&P 500 firms covering the years 2010 to 2023. The findings suggest that while STDR adversely influences both, OLS regression shows LTDR's favorable relationship to ROA and ROE. Including firm size and liquidity (LQDT) improves the model's explaining ability. In the post-crisis age, financial stability and performance improvement depend on strategic capital structure decisions. Considering all factors, this article contributes to the ongoing discussion by examining how enhancing capital structures can boost businesses' resilience and performance in the wake of global events.

MANAGEMENT OF EXCELLENCE IN A COOPERATIVE OF URBAN TRANSPORT OPERATORS

The urban mobility systems of municipalities are made up of various transport, passenger and freight services and subsystems. The mode of public passenger transport, the main one, in many cases, is operated by buses belonging to urban transport companies, and by the complementary service, operated by small vehicles. The great challenge of this format is to establish the corporate culture in the associations of operators of small vehicles, accustomed to an almost artisanal model, practically an extension of the informal or clandestine operation previously carried out. This challenge can be overcome through the actions of the Government, encouraging the formation of cooperatives, formed by these permittees. It must be considered that a cooperative has different specificities from a capital company. The management bodies of transport systems should encourage the assimilation of the management culture, more precisely the Management ® Excellence Model, which is desirable for cooperatives to have the necessary conditions to operate properly in transport systems. Hence, the general objective of this work is to provide the technical, economic, financial and structural conditions for cooperatives to have sustainability as an economic activity. The methodology used was based on an empirical, inductive and exploratory study, with the presentation of a strategic business management model. With this, it is intended to establish a management model to be followed by any entity that has delegation of operation by the Government, which, without a doubt, will constitute a great innovation in the institutional relationship with these individual operators

Shares owned by a limited liability company : grounds and consequences

The object of the study is the legal facts that lead to the emergence of rights to a share in the authorized capital of a limited liability company (hereinafter referred to as the company). The author examines the consequences of the appearance of a share owned by the company. The legislation provides for two types of shares in the authorized capital of the company, which can exist simultaneously. The first type arises as a result of payment by the participant of the authorized capital, which in return for the contributed property receives an indefinite right of participation. It is this right that is hidden behind the share owned by the participant. The second type has a derivative character and arises from the decisions of the supreme governing body or the behavior of the participant and belongs to the company throughout the year. The purpose of the work is to develop and construct new theoretical provisions on the grounds for the emergence and consequences of a share owned by the company. Research objectives: to determine the legal facts of the emergence of rights to a share in the authorized capital of the company, to systematize and classify the grounds for their occurrence and consequences. The following methods were used in conducting a study: permissive regulation, normativism, general contexts of a philosophical and legal nature and national law and order. The science of civil law is closely related to legal regulation, therefore, the doctrinal understanding of some constructions affects the consolidation of certain categories in the rule of law. This is exactly the category of the share owned by the company. It was found that the constructions associated with the transfer or acquisition by the company of rights to a share in its authorized capital are a legal fiction. The grounds for the emergence of a share owned by the company were classified, depending on the will of the latter: the first group consists of bilateral reimbursable transactions, and the second - two unilateral transactions. In both cases, the consequences are the same - the corporate legal relations arising from the right of participation and binding between the company and the participant are terminated. Three options for the sale of the share owned by the company were identified: the division of the former participant's right of participation among the remaining ones, sale to a predetermined buyer and repayment with a simultaneous decrease in the authorized capital and an increase in the size of the participants' shares while maintaining their nominal value.

Kajian Sosial Ekonomi Pelaku Usaha Pada Objek Wisata Bukit Kasih Kanonang Kabupaten Minahasa

The sub-focus of this research is on the conditions of visits to tourist sites, the socio-economic conditions of business actors, and the educational background of business actors. This research seeks to determine the socio-economic conditions of business actors in the Bukit Kasih area. Kanonang tourism is an object. This study uses a qualitative descriptive methodology with observation, interviews, and documentation as data collection tools. These findings show how labor affects the income of Bukit Kasih business actors, which fell during the COVID-19 pandemic. The size of the income earned by Bukit Kasih entrepreneurs is influenced by the company's capital. The income of Bukit Kasih business actors has dropped significantly since the outbreak of the pandemic in early 2019. Business actors generally lack business management skills.

Financial Performance and Shares of PT Bukit Uluwatu Villa TBK Before, During and After The Covid-19 Pancemic

Financial Performance of PT Bukit Uluwatu Villa Tbk was not healthy before the Covid-19 Pandemic, its performance got worse with the Covid-19 Pandemic and its performance only improved after new investors entered by putting in additional capital in the second year after the Covid-19 Pandemic ended. It is estimated that as tourism returns to normal, its financial performance will improve and its financial ratios will become healthier. Unhealthy financial performance results in a decline in the company's share price, and as a result the company's market capitalization value also declines. Improving financial performance by improving the capital structure and increasing sales as well as making efficiencies in the company's operational aspects. Improving financial performance will certainly boost the increase in share prices which have been slumping. Promotion/marketing strategies to increase sales should still pay attention to sustainability (sustainable green tourism marketing) in order to reduce (minimise) the negative effects of tourism on people's lives. Keywords: Covid-19 Pandemic, Tourism, Financial Performance, Share Performance, Financial Ratios

Determinants of stock return in 10 biggest market capitalization on the Indonesian stock exchange

Several research results on the capital market in Indonesia fall into the category of market efficiency in the weak form, so the results of previous research do not reflect the theory of capital market efficiency in the strong form. The purpose of this research is to analyze and answer the existence of inconsistencies in the results of previous research as well as the phenomenon of stock returns which are not as described in capital market theory in strong form. This is what prompted researchers to do it again using different time series and cross-sectional data. This type of research is quantitative descriptive with a panel data multiple regression analysis method using 10 sample companies that are members of 50 large capitalization companies for 7 years. This research formula is to maximize the Stock Return value through leverage as an intervening variable using research objects of companies on the Indonesia Stock Exchange. Two research models are integrated into one and each goes through a model selection test stage, namely the Chow Test, Hausman Test, and Lagrange Multiplier Test using the eviews12 application. The results of this research explain that increasing ROA can have an impact on reducing Leverage (DER) and through DER it can explain the impact on Stock Returns, but ROA cannot directly explain Stock Returns. It is hoped that these results can help as a guide for investors to get maximum Stock Returns.