Investment Companies Research Articles

Features of foreign investment in business companies that occupy a dominant position in the commodity market

The object of the study is certain issues of the procedure for foreign investments in strategic sectors of the economy. The subject of the study is devoted to the procedure for making foreign investments in business entities that occupy a dominant position in the commodity market. The dominant economic entity has market power, which provides an opportunity to shape the economic environment by determining the number of market participants, the behavior of suppliers of goods (works, services) and their consumers. The author examines the issues of necessary regulatory approvals of transactions of foreign investors for the acquisition of assets of dominant entities, as well as general antitrust and special rules for determining the existence of a dominant position in business entities operating in various sectors of the economy. The methodological basis of the study was based on systematic and formal legal methods, as well as the method of technical and legal analysis. The conclusions of the study are based on the constitutionally significant goals of ensuring national defense and state security, Russian legislation provides for the need to obtain additional regulatory approvals for foreign participation in business entities that occupy a dominant position on the market. At the same time, the book value of assets and the amount of revenue of a foreign investor does not matter, a group of persons to which he belongs, as well as a business entity whose assets are planned to be acquired by a foreign investor (a group of persons to which a foreign investor belongs), unlike transactions subject to approval within the framework of antimonopoly control. In some cases, the control of foreign investments applies special rules for determining the fact of market dominance for some business entities, which differ from the rules of antimonopoly legislation.

The Study of The Principle of Substantive Taxation Cases of Investment Companies

The Study of The Principle of Substantive Taxation Cases of Investment Companies

Pengaruh Struktur Modal, Ukuran Perusahaan dan Keputusan Investasi Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening Pada Perusahaan Subsektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia

This study aims to analyze the effect of Capital Structure, Company Size, and Investment Decisions on Firm Value with Profitability as an Intervening variable in Food and Beverage Subsector Companies listed on the Indonesia Stock Exchange for the 2018-2022 Period. The type of research used in this study is associative with a quantitative approach. The data collection method uses a survey sample. The population in this study amounted to 26 companies. Data analysis techniques using path analysis and multiple linear regression analysis. The results of this study indicate that Capital Structure has a negative and significant effect on Firm Value, Company Size and Profitability have a significant positive effect on firm value while Investment Decisions have a positive and insignificant effect on Firm Value. Capital Structure has a negative and significant effect on Profitability, while Company Size and Investment Decisions have a positive and insignificant effect on Profitability. While Profitability as an intervening variable is able to mediate Capital Structure, while Profitability as an intervening variable is unable to mediate Company Size and Investment Decisions on Firm Value.

FINANCIAL INVESTMENTS AS AN OBJECT OF ACCOUNTING AND TAXATION

In the article, the authors justify the expediency of further research on transactions with financial investments, taking into account their importance in the activities of enterprises of various forms of ownership in the conditions of martial law and the specifics of the post-war recovery of Ukraine. The main tasks of the organization of accounting of financial investments are determined. Proposals have been made to improve the efficiency of the accounting process at enterprises. The theoretical and methodological basis of the research is the achievements of foreign and domestic scientists in the field of accounting and taxation of economic transactions. In the research process, general scientific methods and methods of cognition were used: theoretical generalization, analysis, synthesis, classifications. Grouping and comparison methods were used to determine the essence of financial investments as an accounting object. Techniques of concretization and abstraction were used to highlight features inherent in investments. The dialectical method, induction and abstraction became the basis of proposals for improving the efficiency of the accounting process at the enterprise. Thus, the study of financial investments as an object of accounting allowed: carry out a critical review of the concept of "investment" in economic literary sources and determine the essence of this economic category; specify the main tasks of accounting for financial investments; determine proposals for improving the efficiency of accounting for financial investments in large companies, taking into account the use of the automated SAP ERP program.

The Influence of Corporate Social Responsibility (CSR), Company Size, Leverage and Investment Decisions on Company Financial Performance (Empirical Study of Basic Materials Companies Listed on the Indonesia Stock Exchange 2019-2023)

This study aims to determine the influence of corporate social responsibility, company size, leverage and investment decisions on the company's financial performance. This type of research is quantitative and uses secondary data with media in the form of financial and annual company reports in the basic materials sub-sector taken from IDX. The population used in this study is 96 companies through purposive sampling criteria selected 21 samples of companies in the basic materials sub-sector with a period from 2019-2023. Data processing using eviews version 13. Based on the results of the test conducted that simultaneously the variables of influence of corporate social responsibility, company size, leverage and investment decisions have an influence on the company's financial performance. Partially, corporate social responsibility affects the company's financial performance, the size of the company does not affect the company's financial performance, leverage affects the company's financial performance and investment decisions do not affect the company's financial performance.

Analysis of the Development Strategy of Urban Investment Companies Under the Perspective of Financial Generosity

This paper analyzes the current situation of the city investment company in terms of capital, funds and operation from the perspective of financial prosperity, based on the huge financing scale and potential risk situation of the city investment company, and takes A County City Investment Company as an example, and provides a new development mode and direction for the revitalization of the economy of the city investment company. From the perspective of "financial prosperity", it provides a new development mode and direction for revitalizing the economy of city investment company, and puts forward corresponding development strategies from the aspects of asset management, capital management and operation management.

A Study of Administrative Regulations on Real Estate Project Finance and Recent PF Market Issues

Real estate project financing is the process by which real estate developers secure funding. This study categorizes the types of real estate finance and analyzes investment types based on the degree of financial companies’ participation. Financial companies invest in real estate development projects either through direct financing, using PF loans, or through indirect financing via mechanisms such as collective investment schemes. However, if a financial company is not merely a financial investor but also acts directly as a developing entity, appropriate regulation is required. From an investor protection perspective, the Financial Act aims to alleviate information asymmetry and enhance the financial soundness of financial companies. An important issue is the regulation of financial companies directly implementing real estate development projects. In particular, if a real estate development project fails, the implementer bears primary responsibility. Therefore, granting enforcement authority to a financial company that controls the funding mechanism may pose a risk to financial companies. Real estate financing suggests that administrative regulations should be organized in a way that facilitates collaboration among multiple administrative agencies. The regulatory frameworks of both the Construction Act and the Financial Act should govern financial companies’ participation in real estate development projects, necessitating close cooperation among different administrative agencies. In the complex and specialized administrative legislative process, overlapping responsibilities among multiple administrative agencies, such as those under the Real Estate Investment Company Act, may occur; conversely, gaps in responsibilities may also arise. With this in mind, it is necessary to acknowledge the role of financial companies beyond their fundraising function in real estate finance and to investigate the complex and diverse legal relationships that may arise as a result. In particular, given the current situation—marked by the downturn in the real estate PF market that began last year, the subsequent workout of Taeyoung Construction, and concerns about the deterioration of savings banks’ soundness—, it is crucial to explore an effective regulatory system for real estate development finance by integrating the Construction Act and the Financial Act.

Manager political preferences and company investor bases

AbstractWe investigate how the personal political preferences of top managers shape the investor base of firms. Based on the risk‐aversion attitude of firm decisions that rely on conservative political ideologies, we find that Republican managers tend to maintain a lower leverage level; invest less in tangible assets and R&D to pursue near‐term profitability; and maintain a high quality of information disclosure to increase stock liquidity. We demonstrate that firms led by Republican managers can attract more transient institutions. This relationship becomes stronger during financially stressful periods and is robust after considering the moderating role of managerial discretion and potential endogeneity.

Food Safety: An Essential Aspect of Due Diligence

The investment in a food company is an investment in its brand and consumer trust. Ensuring a solid investment means including a full food safety assessment and inspection in the pre-investment due diligence. This assessment focuses on evaluating the company’s regulatory compliance, operational practices, and reputational standing to identify any risks that could later jeopardize or weaken the investment. Because due diligence is a standard practice for the successful investor, it behooves the food company being considered for investment to conduct its own pre-transaction due diligence. Both the investor and investee due diligence should be conducted by a person with extensive food safety experience and expertise, which may warrant the employ of a qualified food safety consultant. With the purpose of a due diligence being to ensure a safe and financially solid buy, the food safety assessment of a food company is an uncompromisable aspect of the pre-investment process.

An Atypical Joint Stock Company under Turkish Law: Basic (Atypical) Principles in the Establishment and Share Issuance of Investment Companies with Variable Capital

An Atypical Joint Stock Company under Turkish Law: Basic (Atypical) Principles in the Establishment and Share Issuance of Investment Companies with Variable Capital

Dancing between threats and conflicts: How Chinese energy companies invest amidst global geopolitical risks

Utilizing Chinese A-share listed energy companies from 2002 to 2021, we investigate the relationship between global geopolitical risks (GPR) and corporate investment through panel fixed effects and attempt to elucidate its channel. The main findings are as follows: Different types of GPR have varied impacts on corporate investment; global geopolitical acts (GPRA) significantly promote investment in Chinese energy companies, while global geopolitical threats (GPRT) substantially inhibit it. Channel analysis indicates that the capital hedging effect can explain the impact of GPR on the investment of Chinese energy companies. Moreover, the interactions between GPR and factors such as companies' commercial credit capability, valuation, operational risk, and degree of internationalization are statistically significant. These factors interact with GPRA and GPRT, jointly affecting the investment of Chinese energy companies. After employing a series of robustness tests, our results remain valid. Our research deepens a better understanding of how geopolitical risks influence the investment decisions of energy companies.

Vliv případu Kardassopoulos proti Gruzii a případů investorů ropné společnosti Yukos proti Ruské federaci na prozatímní provádění Smlouvy o energetické chartě a na prozatímní provádění smluv z pohledu mezinárodního práva veřejného

The Energy Charter Treaty is a multilateral international treaty that contains regulations that, among other things, provide investors of other contracting parties with protection for their investments in the energy sector. Some States, including the Russian Federation, have provisionally applied the Energy Charter Treaty for several years in the wording of Article 45 of the Energy Charter Treaty. This provisional application under Article 45 of the Energy Charter Treaty raised issues that were considered in arbitrational and court proceedings. In this article, the author analyses several Awards on Jurisdiction and Admissibility of Tribunal, namely the Decision on Jurisdiction of Tribunal in the matter of Kardassopoulos v. Georgia and Interim Awards on Jurisdiction and Admissibility of Tribunal in the matter of investors of the former Russian Oil Company Yukos v. Russian Federation. The proceedings for annulment of Awards of the Tribunal in the matter of investors of former Russian Oil Company Yukos v. Russian Federation were brought before courts in the Netherlands, with the proceedings reaching the Supreme Court of the Netherlands, which decided the case on 5 November 2021. On the basis of the aforementioned decisions in the Kardassopoulos v. Georgia and Yukos oil company investors v. the Russian Federation cases, the author of the article focuses on the assessment of the effects of the provisional application of the Energy Charter Treaty, the interpretation of Article 45 of the Energy Charter Treaty, analysing the question of how the provisional application of the Energy Charter Treaty may be limited by the national law of the state that provisionally applies the Energy Charter Treaty.

The complexity of funding rare disease research: an IRDiRC assessment of the landscape

The complexity of the funding landscape for rare diseases (RD) research is due to many factors. Each type of funder has strategic goals guiding its investments. The International Rare Diseases Research Consortium (IRDiRC) convened RD experts to explore contributing factors and investment principles in RD funding. This report includes the Task Force’s findings. Similar to IRDiRC’s previous work on motivating factors for company investments in RD research, the current Task Force found that return on investment (ROI) was a guiding principle. However, within the broader RD funding landscape, the definition of ROI varied between types of funders. While they shared funding requirements (e.g., scientific quality, health economics), funders employed both major investment and venture-type instruments, demonstrating the ongoing need for flexibility in supporting RD funding. These observations warrant further analysis of the interactions and partnerships among all actors of RD research and the sustainability of RD research funding.

The Effect of Company Size on Profitability with Capital Structure as a Moderating Variable in Islamic Banks

The study aims to analyze the impact of corporate size on profitability with capital structure as a moderation variable on sharia banks in Indonesia. The secondary data used came from the annual financial reports of Bank Syariah Indonesia (BSI) and Bank Muamalat Syariah (BMS) for the period 2020-2023. This research method uses simple linear regression analysis and Moderated Regression Analysis (MRA). The results show that the size of a company measured by the natural logarithm (LN) of the total assets has a significant influence on profitability measureed by the return on assets (ROA). These findings indicate that larger companies tend to have better financial performance and are able to attract more investment. The research has made important contributions in formulating strategies to improve financial performance and attract investment in Sharia banking companies.

Strategic Management of Clean Energy Investments: Financial Performance Insights by Using BWM-based VIKOR and TOPSIS Methods

Market share of renewable energy companies increases with the increase in green-energy production. Companies increase their investments depending on the increase in energy production and can provide capital by offering the company to the public. Companies are traded in the exchange market in order to fund their increasing investments and access a large investor base. The increase in the market values of clean energy companies in recent years draws attention of investors. The study aims to identify key financial indicators that influence company growth and investment value by analyzing companies listed in the S&P North America and Europe Clean Energy Index. Therefore, the study evaluates the financial performance of clean energy companies using Best-Worst Method (BWM)-based VIKOR and TOPSIS methods to provide investors with a comprehensive assessment of investment opportunities in the clean energy sector. Also, the comparison of the two methods will contribute to the literature. The sample of this study consists of 10 big companies in S&P North America and Europe Clean Energy Index. Financial tables and exchange market data of the companies for the years 2019, 2020, and 2021 were used in this study. Remarkably, the analysis findings of the two methods differ from each other. The findings reveal significant insights into the financial health and growth potential of clean energy companies, offering valuable guidance for future.

Educational capitalisation: a co-formational feminist framework for conceptualising investment in for-profit education within the racialised and gendered political economy

ABSTRACT This paper examines the processes through which education becomes valued as capital within the racialised and gendered political economy. Using the empirical case of venture capital (VC) investment in for-profit education companies, principally education technology companies and for-profit school chains, it puts forward the concept of educational capitalisation. We conceptualise it as the set of uneven processes, practices, and socio-spatial relationships through which value is extracted from educational processes and practices, and, thus, education is valued in terms of expected monetary return on investment. While our conceptualisation focuses on VC investment, this framework could be used to outline other processes of extraction and valuation in education, including private equity, investment banking, venture philanthropy, and public-private partnerships. We conclude with a co-formational feminist framework for guiding future research, policymaking, and educational decision making that considers the financial, socio-technological, learning & teaching, and political-legal aspects of educational capitalisation, with ethical considerations embedded within each of these domains.

The Impact of Policies Regulating the Development of Private Equity on the Growth of Investment Firms

In the current economic environment, there are many kinds of private investment. The importance of how to ensure that investment companies operate rationally and invest successfully, regulate investment behavior and private equity fund managers of investment companies is becoming more and more apparent. Stable and reasonable regulatory policies are conducive to the promotion of improved profitability of investment companies and the long-term stable development of the capital market, among which the promulgation of the Regulations on Supervision and Administration of Private Investment Funds (the "Regulations") has had a profound impact on the growth of investment companies. This paper focuses on the positive and negative impacts of the Regulations on the growth of companies, and selects representative companies in the capital market services for comparative analysis. The results of the study show that the promulgation of the Regulations further regulates the development of the private equity fund industry, making investors more cautious in their decision-making, and thus promotes the development of the growth of private equity fund investment companies.

A Study of the Impact of Private Equity Funds on the Value of SMEs

Private equity (PE), a type of equity investment in unlisted companies, has gradually become more popular in the domestic market as a result of China's economy's rapid development. According to certain experts, private equity significantly affects businesses. Less research has been done, though, on how private equity funds affect business value. The focus of this article is therefore the impact of PE on the valuation of SMEs. Based on the GEM data from 2019 to 2022, the empirical analysis of the results by means of multi-linear regression model indicates that the value of private equity firms is higher than that of non-private equity investors, and the lower the balance sheet ratio, the higher the return on net assets ratio, or the higher the research and development intensity of the enterprises participated by private equity institutions, the more conducive it is to increase the value of small and medium-sized enterprises.

Increasing venture capital investment in spinal surgery: an analysis of investments from 2000 to 2023

BACKGROUND CONTEXTVenture capital (VC) plays a vital role in advancing spinal surgery technologies, driven by the growing burden of spinal disorders and high healthcare costs. Despite increasing interest, trends in VC funding for spinal surgery remain understudied. PURPOSEThis study aimed to examine temporal and thematic trends in VC investments in spinal surgery companies from 2000 to 2023. STUDY DESIGN/SETTINGA retrospective cross-sectional study analyzing VC investment trends in privately held US-based spinal surgery companies. METHODSUsing the PitchBook database, we analyzed 1001 VC investments in 227 spinal surgery companies between 2000 and 2023. Investments were categorized into surgical devices, noninvasive devices, biotechnology, surgical software, and clinical services. Total and annual investments were quantified in USD. RESULTSFrom 2000 to 2023, $5.37 billion was invested in spine surgery, with nonsurgical devices receiving the largest share (42.6%), followed by surgical devices (26.3%) and biotechnology (22.2%). Annual investment increased by 1782%, with a decline in 2023 likely due to macroeconomic factors. CONCLUSIONSVC funding in spinal surgery has grown significantly, especially in noninvasive technologies. Further research is needed to assess the long-term impact of these investments and explore alternative financing models.

Enhancing Chinese Pension Funds Development through ESG Investment Perspectives

In current China, where the pension funds system is facing enormous pressure, this article will explore the positive impact of incorporating ESG investments into the Chinese pension funds system on its future development. Through research on the current situation of China's pension system, it is found that there are problems such as uneven regional distribution, unbalanced development of the three pillars, high population pressure and funding gap, high investment return requirements, and limited investment channels. By studying the feasible experiences of top ESG investment companies and leading countries in development, it is concluded that ESG investment contributes to improving the return on investment and stability of pension funds, and can alleviate the existing problems in China's pension funds. Finally, it is summarized that the feasible experience of combining ESG investment with China's pension funds is to take the lead in policies first, combined with strict supervision, and pay attention to talent cultivation.