Capital Companies Research Articles

Influence of Market Capitalisation in Quality Investing: A Comparative Study of Large cap and Small cap Indian Stocks

This research proceeds to analyse the role of market capitalization in quality investing by comparing “Large Capital and Small Capital Companies” in the Indian equity markets. In addressing companies whose fundamentals present a strong balance sheet, debt levels that can be managed, and positive cash flows, quality investing has largely been associated with larger-induced stocks. Nevertheless, this research seeks to investigate some key aspects of quality investing criteria such as Return on Equity (ROE), Compounded Profit Growth and Novy-Marx Gross Profitability through a comparison depending on market capitalization. Over 5 years (2019-2024), using a sample of 100 companies and filtering it to 26 companies consisting of 16 large-cap and 10 small-cap from the Nifty 100 and Nifty SmallCap 100 indices, the study employs statistical tests to evaluate the differences in financial performance across these two market segments. The findings reveal that large-cap companies exhibit significantly higher ROE compared to small-cap firms, but no significant differences are observed in profit growth or gross profitability. In addition, both large and Small Capital stocks are over-valued where both the capitalisation types do not show significant difference between the degrees of overvaluation. The present study enhances the existing literature on market capitalization and quality investing as well as provides recommendations on the possible approach for the investors interested in both large and small-cap segments.

ESG Integration in the Light of Regression Analysis

Ecological, social and corporate governance (ESG) becomes an important element in strategy of companies aiming at sustainable development. However, the process of ESG initiatives face serious challenges, including the absence of uniform accounting standards, expensive ESG strategy realization and shortage of reliable information. The goal of the present article is to study these problems and their impact on corporate governance. Using data of international consulting companies, such as McKinsey, MSCI, Sustainalytics, Bloomberg the authors analyzed problems dealing with ESG strategy realization and arising risks. The key component of the research is a mathematic model of multiple linear regression, which evaluates the quantitative impact of ESG factors on market company capitalization. The results of the analysis are demonstrated, they show the impact of ESG factors on company capitalization and it can explain the vector of their advance into corporate strategies. Provided conclusions have practical importance for business, researchers and regulating bodies wishing to improve integration of ESG practices in conditions of global economic turbulence. The novelty of the research includes the use of regression coefficient to evaluate ESG factors of market capitalization. These findings underline the necessity of well-balanced investment, data transparency and standard unification for successful ESG integration into corporate governance.

Intellectual Capital and Performance of Indonesian Islamic Banks: A Maqasid Sharia Perspective

This study aims to determine how intellectual capital (IC) affects Islamic general banks' maqashid sharia performance from 2018 to 2022. The components of IC, namely Human Capital (IB-VAHU), Capital Employed (IB-VACA), and Structural Capital (IB-STVA), are the three independent variables under investigation. This study employs a secondary quantitative research design, as determined by Econometric Views (E-Views) version 12's panel data linear regression approach. The study's participants are Islamic Commercial Banks registered with the Financial Services Authority (OJK). With a sample size of 11 businesses, the sample was chosen using the purposive sampling technique, making a total of 13 banks included in the study. Secondary data was employed in this investigation. The data collection process uses the documentation method accessed via each Islamic commercial bank's official website. The study's findings show the positive relationship between human capital and maqashid sharia performance; the higher a company's human capital, the better its maqashid sharia performance. Capital Employed has no bearing on how well Maqashid Sharia works. The performance of maqashid sharia is negatively impacted by structural capital; the coefficient value, which is pointing in the negative direction, shows that the more human capital a corporation has, the lower its maqashid sharia performance.

Legal consequences of recognition of intellectual property rights (protective document) invalid as a way of protecting civil rights

The article considers certain problematic aspects regarding the invalidation of intellectual property rights (protection documents) and their legal consequences. Author proves that when intellectual property rights expire, they end their term of legal protection by virtue of the law, taking into account the temporary nature of such rights. If a person registers rights or an object of intellectual property, receives a protection document, but knows that such an object does not really meet the conditions for granting legal protection, and enteres into contractual relations with respect to it, the counterparty of such a person (a party to the contract) also has the opportunity to initiate the invalidation of such a contract on the basis of Art. 230 of the Civil Code of Ukraine. Within the invalidation of deeds regarding invalid intellectual property rights, one should also proceed from whether such contracts were fulfilled in full or in part and whether such a method of protection as the recognition of a contract (deed) as invalid will become an effective way of protecting civil rights and restore the violated, unrecognized or contested right. The situation remains unregulated, when intellectual property rights to an invention, a utility model are recognized partially invalid, and individual independent clauses of the claim of the invention (utility model) or signs of the appearance of the industrial design are excluded from legal protection. It has been proven that invalidation of intellectual property rights to an invention, utility model or industrial design, invalidation of a trademark certificate will de facto reduce the authorized capital of the business company (to which they contributed) in the amount of the monetary value of these rights, which was approved by the participants (founders) when they were introduced. If a member of the company has contributed to the authorized capital of the business company exclusively with property rights of intellectual property, it would be expedient to give him the opportunity to contribute money, securities or other property, unless otherwise established by law, to replace this contribution.

Psychological capital of knowledge-based companies in science and technology park incubators of Fars Province, Iran

Psychological capital of knowledge-based companies in science and technology park incubators of Fars Province, Iran

The Contribution of the Accounting Professional to the Maintenance of Company Capital – Applicability in Consumer Cooperatives in Dâmbovița County

The Contribution of the Accounting Professional to the Maintenance of Company Capital – Applicability in Consumer Cooperatives in Dâmbovița County

Os contornos do ativismo administrativo do Tribunal de Contas da União postos pelo artigo 90 da lei das estatais

It is intended to raise a critical-reflective analysis about the occurrence of a possible administrative activism within the scope of the Court of Auditors of the Union, more specifically in its supervisory role with mixed capital companies that exploit economic activity. In this sense, we seek to analyze the constitutional and legal context of the matter, with emphasis on article 90 of the Law of State-owned Companies (Law No. 13.303/2016), especially as a limitation of the supposed administrative activism, through the recognition of the managerial autonomy of these companies.

Preventing technology leaks through the patent office in South Korea: lessons for Ukraine

The article provides an economic and legal analysis of measures to ensure economic security and prevent leaks of technological secrets used by the Government of South Korea and the Korean Intellectual Property Office (KIPO). On October 17, 2024, KIPO presentedand approved «Measures to Combat Technology Leakage to Strengthen Global Industrial Competitiveness.» These measures are expected to strengthen the safety net for advanced technologies that are critical to the survival of domestic companies and economic security. They were formulated to address the potential national damage caused by the increasing leakage of advanced technologies in industries such as semiconductor manufacturing andsecondary batteries. The plan aims to create a national technology protection system to prevent technology theft that hinders the growth of SMEs and venture capital companies, thereby increasing global industrial competitiveness and contributing to a dynamic economy. The leading role in the creation of a national technology protection system in South Korea belongs to KIPO. For this purpose, KIPO has made changes to current procedural and patent legislation and the Law on the Prevention of Unfair Competition and the Protection of Commercial Secrets. It plans to introduce a preventive system to prevent technology leakage using patent analysis of big data and technical expert research. KIPO is improving digital response systems and introducing an idea certification system. It is alsostrengthening cooperation with counterintelligence agencies. The guidelines for punishments for crimes in the technological sphere related to the violation of IP rights and technologies have been revised. Revised guidelines entered into force in July 2024 to implementstricter standards for trade secret misappropriation and theft of industrial technology, set separate sentencing standards for crimes related to «industrial technology» and «national basic technology», provide stricter penalties for violations, especially those occurring abroad. The state of leakage of technologies in Ukraine is analyzed, mechanisms of their countermeasures are proposed.

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.

Analysis Of Providing Compensation In Improving Employee Performance According To An Islamic Economic Perspective (Case Study Of Pt. Sarana Lampung Ventura)

This think about looks at the crossing point of Islamic financial standards and stipend hones in making strides representative execution, centering on PT. Sarana Lampung Ventura, an Indonesian wander capital company. Through subjective library inquire about, the consider analyzes how Islamic-based recompense frameworks adjust with modern human asset administration hones and their affect on representative efficiency, work fulfillment, and organizational commitment. The discoveries uncover that PT. Sarana Lampung Ventura’s recompense hones, counting reasonable compensation, convenient installments, and profit-sharing plans, for the most part adjust with Islamic financial standards. This arrangement contributes to expanded representative efficiency, upgraded work fulfillment, and lower turnover rates. In any case, challenges continue in adjusting advertise weights with strict adherence to Islamic standards and creating comprehensive measurements for representative commitments. The consider proposes a few suggestions to assist upgrade the company’s remuneration framework, counting executing a comprehensive execution administration framework that joins both monetary and non-financial measurements adjusted with Islamic values, growing representative benefits to reflect Islamic social obligation, and presenting skill-based pay components. This inquire about contributes to the developing body of writing on Islamic human asset administration, advertising experiences into the down to earth application of Islamic financial standards in present day trade settings. It highlights the potential for Islamic-based recompense hones to drive worker execution whereas keeping up moral and devout keenness. The consider concludes that whereas PT. Sarana Lampung Ventura has made noteworthy advance in adjusting its emolument hones with Islamic standards, there’s room for advance upgrade to reinforce its framework and possibly lead to indeed more noteworthy worker execution and organizational victory inside the system of Islamic financial matters.

LINKING HUMAN CAPITAL TO INNOVATION CAPABILITY: A DYNAMIC CAPABILITIES PERSPECTIVE

The research examines the mediating role of dynamic capabilities in the effect of human capital on innovation capability. The research was conducted with white-collar employees in a logistics company based in Istanbul. A simple random sampling technique was used to determine the sample. The research sample is 238 employees working in the same company for at least three years. Mediation models were used to analyse the data. The data analysis determined that employee capital significantly increases the company's dynamic and innovation capabilities. In addition, the company's dynamic capabilities mediate in forming the innovation capability of employee capital. The hypotheses created within the scope of the research were supported. Human capital companies' dynamic capabilities effectively form the company's dynamic capabilities and subsequently obtain innovation capabilities. The research contributes to the literature by associating employee capital, innovation capability, and dynamic capabilities in the logistics sector.

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.

Intellectual capital of IT companies in the development processes of innovative technologies and digital transformations: Historical and genetic analysis

In the context of digital transformation development, the role of IT companies, which contribute to the creation, implementation and development of innovative technologies, is growing. However, taking into account that innovation formation in the economy is a long-term process, it provides for a systematic study, particularly from a historical point of view, therefore the purpose of this article was to conduct a historical-genetic analysis of the IT sphere and the role of its intellectual capital in the processes of emergence and development of innovative technologies. A systematic and comparative analysis was used in the article to conduct a historical-genetic study of the intellectual capital of IT companies within the framework of the theory of technological structures and the innovation theory of the Austrian-American economist and historian of economic thought Joseph Schumpeter. The analysis was carried out to trace the emergence of the IT sphere. In the course of the study, the main achievements of the IT sphere have been analysed, the basic innovations in the IT sphere within the framework of innovation waves, their role and importance have been described, the role and influence of intellectual capital in these processes have been analysed. Starting with the fourth innovation wave, when the first developments in intellectual capital appeared, a parallel historical-genetic analysis of the IT sphere and intellectual capital has been conducted. The correlation of innovations emergence in the IT sphere with the stages of Joseph Schumpeter’s innovation waves and the reason for the reduction of their duration has been revealed. It has been discovered that the implementation of digital transformations and related innovative technologies strongly depends on the quality of the intellectual capital of the IT sphere, which concentrates intellectual efforts when creating solutions aimed at accelerating various economic and management processes. The results of the conducted research provide a more systematic idea of the origin of the intellectual capital of IT companies and its connection with the development of innovative technologies and digital transformations, which has both theoretical and practical significance

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.