Companies In Other Industries Research Articles

The use of photography in non-financial reporting as a tool for legitimizing the activities of companies from the food industry in Poland

Purpose: The article aims to determine whether the images presented in the non-financial reports of food companies are used to legitimize their operations.Methodology/approach: A literature analysis and quantitative and qualitative content analysis were used. Findings: The results indicate that the photos presented in the non-financial reports of food companies constitute an element of their legitimization strategy, serving to build the image of a socially responsible organization. This is evidenced by the often-recurring idealized images that present the happiness and contentment of employees and their families, as well as local communities, or depicting nature unspoiled by economic activity. The use of such practices aims to elicit a preconceived impression of the company’s commitment to sustainability among stakeholders. Research limitations/implications: As this is a pilot study and a prelude to further research on information visualization in non-financial reports, the study was limited to eight companies operating in the food industry, one form of information visualization, and one reporting period. Therefore, there is a need for further research to determine whether companies in other industries and regions use photos and other forms of in-formation visualization to gain legitimacy for their operations. Practical implications: The study highlights the significance of the photos included in non-financial reports in establishing the image of companies committed to sustainability. It expands knowledge on the importance of information visualization in a company’s communication with its stakeholders. Originality/value: The article addresses a very topical but insufficiently researched issue in Poland concerning the use of photography for impression management in non-financial reporting. This is the first paper to present an analysis of photographs from the perspective of a company’s message creation for stakeholders to legitimize its activities.

Determinants and effects of trade credit financing: Evidence from the maritime shipping industry

AbstractThis paper investigates the factors and effects of trade credit, as an alternative source of capital, by employing a generalized method of moments instrumenting for endogeneity based on a panel data set of public maritime shipping companies and compatible companies in other industries. Our study shows that the magnitude of trade credit is affected by profitability, financial leverage, company size, cost of capital, financial distress, institutional ownership, corporate power, corporate liquidity, asset intensity, and corporate growth. It also suggests that trade credit affects financial performance, equity value, and risk. These empirical findings yield important implications for principal financial officers, as discussed herein.

Third Party Payment System In Business Healthcare

Occupational health companies that do not provide products or services directly to patients generally share the same operating environment as companies in other industries. For example, machine tool makers Cincinnati Milicron and GE Medical Systems sell their products in much the same way.Cincinnati sells its machines directly to manufacturers who use them to make other products, and GE Medical sells diagnostic equipment directly to hospitals, clinics and other facilities that use its equipment for diagnostic tests. The prices that both companies charge for their products are set in a competitive marketplace, making it relatively easy for buyers to distinguish between competing products. In general, the more expensive the product, the better the performance, and performance can be judged by more or less objective metrics. For example, in some sectors of occupational health and most other sectors of the economy, consumers of products or services have many suppliers to choose from, distinguish the quality of competing products or services, and Can (probably) act and make decisions rationally. As for the quality and price of the purchase, we will bear the full purchase cost. However, for the most part, the provision of health care in the workplace has its own way of doing things. First, there are often only a few companies offering a particular service in your neighborhood. Moreover, it is very difficult, if not impossible, to assess the quality of competing services.Decisions about which aids to purchase are typically made by physicians or other clinicians, not by the consumer of these aids. Payments to providers are generally made by third-party payers, not by users of the assistance. Finally, for most people, third-party health insurance is fully or heavily subsidized by employers or government agencies, leaving patients largely isolated from professional medical bills.

How and Why Does Green Bond Have Lower Issuance Interest Rate? Evidence from China

ABSTRACT This paper studies the issuing pricing character of green bonds with the evidence from China and further analyzes the reason why green factor affects bond issuing pricing by analyzing credit rating’s intermediary effect and exploring the mediating of policy incentives and third-party green certification. Furthermore, heterogeneity analysis is conducted to analyze how green factor impacts on bond issuing pricing at different quantiles and for companies in different industries or with different ownership. The findings include: (1) Green factor generally reduces the issuance interest rate of green bonds, though this effect is not significant at the low quantiles or at the early development stage. (2) Green factor’s impact on bond issuing pricing occurs partly by improving bond credit rating, fully by this way for companies in the construction industry, but directly for companies in other industries. (3) For non-state-owned companies, green factor has direct effect on bond issuing pricing, but this effect is not significant for state-owned companies. (4) Third-party green certification and incentive policies enhance the reducing effect of green factor on the issuance interest rate. This study provides a theoretical reference for environment-friendly investors, financiers with green projects and the regulators caring about green finance.

Sustainable and Clean Energy: The Case of Tesla Company

Tesla is considered the leading electric vehicle manufacturing company in the market. It was the first company to recognize the need for a more sustainable vehicle than traditional gasoline-powered vehicles and offer its solution to the market. The company has combined the generation of electrical energy through solar cells and other SolarCity products with its vehicles, giving it a competitive advantage that none of its competitors have. Tesla's cars are the result of continued investment in research and development and a forward-thinking approach. The company has made such an impact with its innovations that it has also changed the paths of its competitors and the industry as a whole. Within the green economy movement, Tesla has definitely been one of the pioneers influencing companies in other industries and inspiring them to take a greener and more sustainable approach.

Does electronic economics matter to financial technology firms?

This paper addresses the notion of electronic economics by examining financial technology (fintech) firms' performance and corporate governance quality, using data from the United States. The findings support our maintained assumption that due to the economics of electronic platforms perused by financial technology firms, these firms outperform firms from other industries (non-Fintech). The final sample comprises 1,712 company-year observations between 2010 and 2019 (pre-COVID-19). The evidence suggests that our corporate governance quality index, developed from Organisation of Economic Cooperation and Development (www.oecd.org/corporate/corporate-governance-factbook.htm, 2019) guidelines, accurately captures corporate governance quality in the United States, principally due to the inclusion of an anti-bribery policy indicator, in the index. The results suggest that this evidence is not merely an artefact due to the corporate governance quality index potentially capturing priced risk factors. Our findings reveal that fintech firms have superior corporate governance quality than non-fintech and that fintech firms place more reliance on internal versus external corporate governance mechanisms, vis-a-vis companies in other industries.

Corporate social responsibility: the contribution of Ukrainian mobile operators to overcoming the consequences of the spread of COVID-19

Introduction. The business challenges posed by the COVID-19 coronavirus pandemic have prompted companies to respond immediately to the situation and implement new CSR projects to support the community. All companies act differently: they give preferences to doctors, allocate funds for the purchase of equipment, organize remote work et cetra. At the same time, the question of the peculiarities and differences between different industries and within one industry remains almost unsolved.The purpose of this study is to analyze the activities of mobile companies in Ukraine in the field of corporate social responsibility. The contribution of companies in overcoming the consequences of the pandemic, what actions were taken and in what directions is also studied.Methods. To achieve this goal, general and special methods were used, namely: theoretical generalization, systematization, analysis and synthesis, economic and statistical methods of collecting and processing information, as well as the method of logical generalization - to draw conclusions.Results. The current situation in the social and economic spheres of Ukraine is described. The analysis of the mobile communication industry in Ukraine as one of the key ones in remote work and self-isolation is carried out, the market capacity and consumer needs are studied. The practices and measures of corporate social responsibility, which were implemented by key companies in this industry both in the years before the coronary crisis and in 2020, were studied.Prospects. On the one hand, it is worth investigating how corporate social responsibility will develop in companies operating in the field of mobile communications. After all, their external environment is also changing, and the problems caused by the emergence of COVID-19 have not yet been overcome. On the other hand, a similar analysis of companies in other industries will reveal who is really ready to change and adapt to new circumstances, and who will gradually lose their market positions.

The mysterious world of airline pricing: innovative practices and strategies for profit

PurposeBusiness success and pricing are very closely intertwined. This study aims to explain how businesses can improve their profitability by relying on creative pricing strategies that managers across industries can adopt.Design/methodology/approachThis study uses research from related fields and a detailed analysis of the airline industry to deconstruct its success and identify innovative pricing practices that have helped salvage it.FindingsBased on our analysis, the authors propose several strategies that can help companies control their pricing and leverage it to increase profitability. These include decommoditizing, segmenting the market (up and down), scrutinizing customer behavior, offering versioning and ancillary services, actively promoting these add-ons and using dynamic pricing.Originality/valueThis study takes an unusual approach and look at the airline industry – literally a textbook example of an oligopoly. The authors argue that if companies in an oligopoly – with undifferentiated services – can dig themselves out of the depths of nonexistent profits by using innovative pricing, it should be much simpler for companies in other industries that offer easier differentiation.

Social Capital in Energy Enterprises: Poland’s Case

Social capital is currently perceived as one of the basic factors of economic development and economic success of enterprises. However, while there is already much research on social capital in enterprises, there has been little such research in the energy industry. The aim of the publication is to fill the gap in this regard. The basic question that the authors try to answer is whether there is a higher level of capital in energy companies compared to other industries, and if so, what the reasons are for this. Apart from answering this question, the authors present their own method of measuring the level of this capital. The first part of the article presents the results of a study on the level of social capital in Polish energy companies, whereas the second part compares the levels of social capital in energy companies and industrial companies in other sectors. According to the study, energy companies generally have higher levels of social capital than companies in other industries. It has been found, however, that individual forms of capital that comprise social capital differ. The most significant differences were observed in relational capital, followed by cognitive capital at a lower value and structural capital at the lowest. The survey also revealed that there is a difference in social capital levels among the researched professional groups: management, administration, and production.

Problematic aspects in accounting for financial performance in construction

Introduction. The modern development of the world globalization economy is accompanied by natural disasters, and instability of the political system and financial systems. In 2020, this development was significantly affected by the global pandemic COVID-19. These reasons significantly affected the financial results of enterprises. The effects of the economic crisis, especially the pandemic, have been felt by such a fund- building sector of the economy as construction. The development of this field provides additional jobs to companies in other industries. First of all, they include the building materials industry, furniture industry, chemical and machine-building industries. Many problematic issues have accumulated in accounting for the financial results of construction companies which require urgent solutions. They are related to the recognition of costs and revenues in accordance with the requirements of international and national accounting standards, the characteristics of their components, non-compliance with regulatory documents on pricing and accounting of enterprises in the industry, the definition of costs and revenues related to emergencies.The purpose of the study is to substantiate the need to improve the regulatory and legal support of accounting for financial results in construction in view of the changes that have occurred in the social and economic spheres of our state.Methods. The methodological basis of the study was the use of a systematic approach in the process of disclosing problematic aspects of accounting for financial results. The research methods of theoretical generalization, analysis, structural and functional approach were used to identify problem areas of accounting for financial results, while modeling, induction and deduction, and grouping helped to improve the accounting of costs and revenues from emergencies and clarification of sub-accounts and analytical accounts for accounting of financial results. Additionally, with abstract and logical, and comparison methods we substantiated the components of the contract price in construction and improved information support on the amount of net profit from each activity in management accounting. Finally, the results of the study are presented using tabular method. Results. The article analyzes the components of income of construction companies that affect the size of the financial result from the main activity. An improved structure of the contract price for construction projects is proposed, which is consistent with the costs in accordance with the requirements of accounting standards. This characteristic of the current state of accounting for costs and revenues in case of emergency is provided as part of determining the financial results of these events. It is proposed to reflect them as part of other operating expenses and other operating income in the event of loss on damage to current assets due to emergency. Where the construction company has suffered a loss of long-term assets as a result of such events, it is recommended that such losses be summarised in account 97 for “other expenses” and 74 for “other income”. It is also proposed to retrain 97 “other costs and investment activities” and 74 “other income- generating investment activities”, respectively. It is reasonable to change the names of sub-accounts to account 79 “financial results”. It is recommended to charge income tax on each type of activity in order to more accurately determine the net profit. The proposals of scientists to improve the accounting of retained earnings (uncovered losses) are analyzed. Suggestions are made to improve this area accounting for financial results.Prospects for further research. Prospects for further research are the formation of components of income and expenses from all activities of construction companies as elements in the extraction of financial results. This is especially true of income and expenses of the main activities of the construction industry.

Intellectual Capital of a Trading Company: Comprehensive Analysis Based on Reporting

The study is devoted to the analysis of the efficiency of use and the effectiveness of disclosing the intellectual capital (IC) of a trading company operating in the market of the Russian Federation. The subject of the research is an assessment of the quality of disclosure of information about the IC company involved in the creation of financial results of activities and the growth of the company’s value. The study examines the assessment of IC and the search for links between the involvement of IC in the formation of the financial result of a trading company and the degree of its reflection in the company’s annual reports. Methods of using intellectual value-added coefficients (VAIC) such as the trademark logo (written as ™), Calculated Intangible Value (CIV) and content analysis of the company’s annual reports are used to assess the IC and its elements. The influence of IC and its components, on the financial results of a trading company are also investigated and calculated using various methods. It is shown that there are no statistically significant relationships between the assessments of IC and its elements obtained using financial ratios, and those obtained using content analysis. This indicates that the opinions and assessments of the heads of a trading company regarding IC are formed regardless of the size of IC involved in the formation of economic results and testifies to the absence of an effective investment management policy in the studied company. Some of the results obtained confirm the trends in IC structures previously observed for companies in other industries. The results also indicate that the existing system for preparing annual reports does not sufficiently consider the size, dynamics and efficiency of using the intangible assets of a trading company. The results of this study are likely to be useful to management and academics.

PENGARUH MEKANISME GOOD CORPORATE GOVERNANCE, LOAN TO DEPOSIT RATIO (LDR), NON PERFORMING LOAN (NPL) DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PERBANKAN YANG TERDAFTAR PADA BURSA EFEK INDONESIA TAHUN 2015 – 2017

Banking companies can endure the competition in the business world and can be a good example for companies in other industries in maintaining firm value in the eyes of investors. The variables tested in this study consisted of company values measured using Tobin's Q ratio, good corporate governance mechanism proxied through institutional ownership, audit committee, the board of commissioners, managerial ownership, independent commissioners, and the size of the board of directors, measured loan to deposit ratio with the percentage of lending loans with third-party funds, non-performing loans as measured by the percentage of non-performing loans compared to lending, and the size of the company as measured by the total assets owned by the company. The research sample is a banking company that is listed on the Indonesia Stock Exchange (IDX) in 2015-2017. This study uses a purposive sampling method in determining the number of samples used and obtained 39 companies used as samples. While the method of data analysis uses the classical assumption test, hypothesis testing, and multiple linear regression analysis. The results of this study indicate that the mechanism of good corporate governance has a significant effect on firm value while the loan to deposit ratio, non-performing loans, and firm size have no significant effect on firm value.
 Keywords: Firm value, good corporate governance, institutional ownership, audit committee, the board of commissioners, managerial ownership, independent commissioner, size of the board of directors, loan to deposit ratio, non-performing loans, company size.

Should the United States government regulate prescription prices? A critical review

Prescription drug pricing in the United States continues to generate considerable debate. This critical review and commentary summarizes the evidence surrounding four factors often cited as contributing to high drug prices and/or as rationale for increasing government involvement in drug prices: (1) pharmaceutical industry profits, (2) government funding of basic and biomedical research, (3) "me-too" products, and (4) pharmaceutical advertising. Furthermore, it describes the potential impact of increased governmental regulations on prices and innovation in the pharmaceutical industry. Literature indicates that drug companies have consistently made higher profits than companies in other industries. Research suggests that the magnitude of that difference may be smaller than typically reported due to treatment of research and development (R&D) and marketing and promotional expenses. Research provides inconsistent results on the magnitude of that difference and the need for higher profits to compensate for the industry's level of risk. Evidence suggests that me-too drugs effectively decrease innovator products' period of market exclusivity and may modestly reduce drug prices directly or by increasing manufacturer rebates. The direct impact of advertising expenditures on drug prices is likely limited. The literature suggests that restrictions on advertising and me-too drug development would have minimal effects on prices. Government involvement in pricing products developed from government-funded research has been tried and found neither effective nor workable. These findings suggest that more widespread price regulation would likely result in decreased R&D and fewer new products. The impact of reduced R&D would, in turn, depend on the degree to which lower profits and R&D investments would stymie the development high-value, innovative new products or simply decrease the output of low-value duplicative products. In summary, this critical review of the literature found little evidence that targeted or broad government regulation of prescription prices in the United States would provide net positive societal benefits.

Regulating Algorithmic Insurance

This article addresses emerging gaps in consumer protection. Insurers, like companies in other industries, are revolutionizing their practices with artificial intelligence and big data. Insurers are finding new ways to price risks and policies, tailor coverage, offer advice to purchasers, identify fraud, and sequence the payment of claims. These changes have subverted consumer protections built into current regulatory regimes and regulators are struggling to adapt. This is not a niche problem. Insurance is a vital part of the United States economy, raking in over 1.2 trillion dollars in premiums a year; employing more than 2.5 million people; and undergirding transactions as simple as home purchases and as complex as corporate mergers and acquisitions, the multi-trillion-dollar tort system, and a vast system of private risk management and loss avoidance advice. Despite playing these critical roles, the insurance market is surprisingly inefficient. Deep information asymmetries make it difficult for consumers to evaluate the quality of policies and carriers, for insurers to price risks properly, and make it possible for both sides to act opportunistically. What’s more, behavioral barriers hamper purchasers, who often buy too little or the wrong insurance. And, in some markets, private insurers might not be willing to supply enough insurance because the underlying risks cannot be adequately spread. Insurance regulation is a necessary part of solving these complex market failures. Most of the previous legal scholarship about algorithmic justice has been in the context of information platforms, criminal justice, and employment discrimination. This article connects to those discussions and expands them in the specific context of insurance. It does so by providing a taxonomy of the changes in the insurance industry, the potential danger to consumers as a result of those changes, the reasons for regulation, and the ways that regulators must adapt to protect individual consumers and the insurance market.

Trade Secrets Protection and Corporate Tax Avoidance

This paper examines the relationship between an increase in legislative trade secrets protection and its effect on tax avoidance. First, we show that the adoption of the UTSA, by itself, does not have any effect on tax avoidance activities by firms located in UTSA states. However, our research demonstrates a negative association between large firms located in UTSA states and the accompanying tax avoidance by these firms. Additionally, we document the differences in tax avoidance activities by companies in different industries. Namely, we find that large high-technology companies engage in less tax avoidance as compared to companies in other industries.

Corporate social responsibility and strategic company behaviour: CVS Health's discontinuation of tobacco products

AbstractThe elimination of tobacco products by CVS Health represents a special case of corporate social responsibility (CSR) with substantial costs—about $2 billion revenue loss in tobacco annually. This paper examines how CVS Health's stock market performance was affected by two events: the announcement (5 February 2014) and the implementation (1 October 2014) of the elimination of tobacco products. The study event approach and regression models are used to examine both short‐ and long‐term effects. The results show positive and significant abnormal returns during both events, with effects being much stronger during the implementation event period. In the long term, the net effects become neutral, most likely because the positive effects of CSR and the negative effects of the revenue loss offset each other. The results have important implications for both the retail pharmacy industry and companies in other industries. Socially responsible actions, such as the elimination of harmful products could impose substantial revenue losses or extra expenses, but more importantly, they can have a positive and significant impact on corporate financial performance. Thus, such actions benefit not only the stakeholders, but also the shareholders, and are consistent with both stakeholder theory and shareholder theory.

Creating strategic relationships with online travel agents to drive hotel room revenue

建立与OTA战略合作以促进酒店订房收入：以OTA视角探索研究目的酒店经营者常常受到在线旅行社（OTA）收取高额预订费用的困扰。酒店试图鼓励客人直接预订房间，绕过OTA程序。然而，每年OTA贡献仍有数以十亿计美金的订房收入; 其他行业的很多公司采用多渠道销售产品。本论文研究目的在于探索酒店经理人们如何能够成功地与OTA合作。研究设计/方法/途径本论文采用定性研究方法，主要以小组讨论和个人访谈的形式，与一家行业领先的OTA市场经理们进行深度访谈。本论文借用ATLASti 5 内容分析工具进行样本分析，总结出主题和分类。研究结果本论坛提出了多个OTA价值组成，以及酒店如何从中盈利。此外，本论文还指出了OTA和财务经理的有效双向交流的重要性。其中，需要建立“循环展开”（Optimization Loop），即OTA和酒店之间的合作交流需要建立在循环、有序、通畅、以及战略的基础上。研究理论限制/意义本论文一个主要的理论限制就是只采访了OTA的市场经理。研究原创性/价值理论上，关于OTA和酒店之间的战略合作的讨论，我们知之甚少。本论文采用与一家行业领先的OTA市场经理们的深入访谈，将这一合作关系进行积极讨论分析，提供一系列优化战略合作的方案和见解。关键词在线旅行社（OTA），酒店订房收入，合作关系，Expedia，市场经理，收入优化

Gaining from Scientific Knowledge: The Role of Knowledge Accumulation and Knowledge Combination

This paper investigates the effect of scientific knowledge on the performance of biotechnology and pharmaceutical companies. While sourcing knowledge from scientific community is a common strategy of open innovation, biotechnology and pharmaceutical companies show particularly strong dependence on scientific knowledge than companies in other industries. In such strong science-linkage regime, the relation between science linkage and firm financial performance is more complex than what is generally assumed. From the perspective of absorptive capacity, we argue that knowledge accumulation and knowledge combination preference both affect a firm’s ability to gain higher commercial benefits from scientific knowledge. We use patent citation data to empirically test our hypotheses. The results indicate that science linkage alone has positive effect on firm performance. The positive effect will be increased when firms have knowledge combination preference on more self-citation and longer technology cycle time. How...

Communicating the corporate social responsibility (CSR) of international contractors: Content analysis of CSR reporting

Corporate social responsibility (CSR) is gaining importance for international construction contractors and corporate reports are an effective tool in communicating their CSR efforts. However, CSR communication is a rare topic of discussion within the construction research field. This study establishes a systematic content analysis approach to compare CSR communication among contractors in different regions. It selected a sample of 310 international contractors from the Engineering News-Record list from 2009 to 2014 and collected data from their CSR-related reports. Significant disparities were found in CSR communication among the contractors in the four regions. European contractors showed the highest levels of CSR communication in both dimension- and issue-levels, while Chinese contractors ranked the lowest in CSR communication. Another interesting finding is that all four regions gave the highest priority to one CSR dimension, i.e. community involvement and development. This study serves as a starting point for research on CSR communication by construction contractors, including comparisons with companies in other industries. In addition, this study provides a useful tool for companies or scientific researchers to assess the status of CSR communication.

The Impact of Political Connections on the Performance and Solvency of Canadian Financial Institutions

<p style="margin: 0cm 0cm 0pt; text-align: justify; line-height: 150%;">This article’s main goal is to analyze the impact of political connections on the financial performance of Canadian financial institutions. Data on Canadian financial institutions from the S&P/TSX Composite Index over a five-year period was analyzed, and the results demonstrate that contrary to previous studies on companies in other industries, political connections had a negative influence on solvency, return on assets and return on equity for these Canadian financial institutions. Only the market-to-book ratio was positively and significantly influenced by political connections.</p>