Future Performance Of Company Research Articles

The Influence of Equity Levels, and Liquidity on Profitability at PT Bank Sumut Pusat Medan City Period 2020 to 2022

A financial ratio analysis is critical for understanding a company's financial situation. Financial ratios play a vital part in determining How Many financial factors influence a company's future performance. This study was carried out to gather empirical data on the impact of equity and liquidity on profitability at PT Bank Sumut Pusat in Medan City. The data was gathered from monthly financial records evaluated at PT Bank Sumut Pusat in Medan City. Data was gathered through interviews and data management and then analyzed using multiple linear regression. In this study, the data was processed via SPSS. This study employed a sample of 36 monthly reports collected over three years. Specifically, the years 2020–2022. This study's findings demonstrate (1) Equity and liquidity do not have a concurrent and small impact on profitability, and (2) partial equity (3) Partial liquidity has no influence and is not substantial on profitability

Can managers’ facial expressions predict future company performance and risk? Evidence from China

This paper adopts a cognitive dissonance theory viewpoint to investigate the impact of managers’ facial emotion on market performance and risk in Chinese listed companies from 2016 to 2022, and employs a deep learning model to analyze managers’ facial emotion. We find that the more positive facial expressions of managers in earnings conference call predict better market performance, lower volatility and stock price crash risk. After conducting a series of robustness tests, the conclusion still holds. This study provides investors with a new analytical method and also provides market regulators with a reference for relevant policy formulation.

La Gestion Des Resultats Comptables : Incitations Et Contraintes

Accounting undoubtedly offers a certain plasticity, depending on how it is understood and interpreted, allowing for choices, options and even policies. Earnings management is likely to be motivated by management's opportunism, or by their desire to communicate information on the company's future performance (efficiency). Thus, previous work distinguishes between two perspectives on earning management: opportunistic and informational. This paper seeks to explore the reasons behind the adoption of earning management practices, in other words, to treat the question of the constraints and motivations of accounting results management.

Presentation of social responsibility reports and the stock price crash risk

This study explores the relationship between the presentation forms of CSR reports and the stock price crash risk. It is found that the higher the proportion of image area and richer the color of CSR reports, the higher the future stock price crash risk. CSR reports presentation form affects the stock price crash risk through stock liquidity and investors' expectations of the company's future performance. These results indicate that presentation format in social responsibility information disclosure is mainly one of the tools used to build a positive corporate image.

Analysis of Financial Ratios to Evaluate the Financial Performance of PT GarudaFood Putra Putri Jaya Tbk in 2020-2022

This study aims to identify the description of the financial performance of PT. Garudafood for the 2020-2022 period. The identified relationships will help managers and decision-makers to predict the company's future performance through the organization's financial ratios. In this research analysis, liquidity, solvency, activity, profitability, and financial ratios are used to assess the financial performance of PT. Garudafood. This research was conducted using a qualitative research method carried out with a descriptive approach. Based on the research results, it is known that the form of financial ratios is complex, and the complexity is influenced by the complexity of financial reports. It should be noted that the complexity of financial reports is increasing, not only because the financial and accounting principles used are increasingly complex and numerous, but also because the numbers presented are fixed numbers. Not much innovation in the presentation of financial statements.

Disclosure of Governance, Ownership Structure, Earnings Quality, and Future Performance (Evidence from Indonesia and Singapore)

<p>This study analyzes the effect of institutional ownership structure and earnings quality on the future performance of companies with governance as a moderating variable in Indonesian and Singaporean companies. The company's future performance in general will usually be represented in the financial statements. Earnings quality is an important benchmark for companies to determine the quality of company accounting information. Institutional ownership is sharing ownership owned by an institution or business entity. Institutions here can mean ownership by banks, foundations, investment fund managers, pension fund managers, and others. Good Corporate Governance is corporate governance that explains the influence between various participants in the company that determines the direction of the company's future performance. The sample used in this study are companies listed on the Indonesia Stock Exchange and Singapore Stock Exchange from the period 2018 to 2020. This study uses a multiple linear regression model. The results show that institutional ownership structure has a significant positive effect on Future Performance and governance. as an independent variable shows a significant positive result on Future Performance.</p>

Analysis of Cross-industry M&A in the New Energy Era: a Case Study of Dexin Transport

Under the strategic vision of green economy and the goal of carbon peaking and carbon neutrality, China's new energy industry has entered a new stage of high-quality development. Meanwhile, the scale of M&A of Chinese enterprises began to increase rapidly after 2007 as more and more enterprises explore diversification strategy and seek business transformation. In this context, this paper explores the motivations and performance of enterprises' cross-industry merger in the new energy era by studying the case of Dexin Transport's cross-industry merger with Zhihong Precision which realized its transformation to the new energy industry. This paper analyzes the status of related companies, the prospection of related industries and the companies’ financial situation to explore the motivation of cross-industry mergers. We also evaluate the performance of the merger from the perspective of short-term market effect, status of transformation, long-term market performance and financial situation, and gives relevant investment suggestions. Based on the analysis, strategic transformation and cross-industry M&A are feasible choices for companies whose main businesses are limited in development and companies in financial distress. On the other hand, it is essential to be farsighted in the selection of the target industry. The development potential and market recognition of the target industry are the key to the improvement of the company's future performance and financial condition. These results present guiding significance for enterprises in similar circumstances and provides practical reference for enterprises with business transformation or upgrading plans and merger plans.

Capital Expenditure and Future Firm Performance: Evidence from Firms Listed on the Stock Exchange of Thailand

Abstract: Purpose – Capital expenditure reflects a company's investment in long-term assets expected to generate value for shareholders over time. Such expenses mostly expect to improve a company's future performance. This research aims to explore the relationship between capital expenditure and future firm performance. Design/methodology/approach –A sample (n=475) of registered companies listed on the stock exchange of Thai (SET) from 2000-2016 was selected. The time period selected for this research allows the researchers to analyze the relationship during the period of economic growth and stability. Secondary data was harvested from the Thomson Reuters Datastream database. Findings – A regression analysis showed a negative relationship between capital expenditure and future firm performance, as measured by return on assets (ROA) and dividends. Notably, this negative relationship was found to be statistically significant across the board, first for all companies and second for a unique subset of larger companies. Originality/value - Such findings go against general expectations. Subsequently, the study has implications for general practice, investment, and the academe.In particular, it sheds light on the potential impact of agency on investment expenses. Practically, registered SET companies can use this insight to make informed investment decisions; investors to make investment decisions, and lenders to make lending decisions. Overall, this research provides value for various stakeholders across financial exchanges.

Asset divestments, economic crisis, and the future performance of companies

This paper investigated the impact of asset divestments made by financially constrainedcompanies on their future performance, as well as their potential for reversing past losses.After applying the pairing of the companies listed, the estimation of the relationships of thevariables took place through GMM and LOGIT. The research findings indicate that there isevidence that the sale of assets by companies with financial constraints contributes to futureperformance. A contribution of this research is for managers who have empirical results thathave not yet been discussed in the Brazilian literature and that can serve as support indecision-making on the policy of selling or maintaining assets

Predicting future performance and dividend policy by asset revaluation and leverage

This study aims to examine the effect of asset revaluation on the company's future performance and dividend policy through leverage as a mediating variable. Financial statements play an important role as a source of information for stakeholders in predicting the company's future performance. Stakeholder interest in dividends is limited by biased information about the company's future performance through leverage levels and asset revaluation results that can be handled through financial statements in decision making for dividend distribution. Therefore, this study supports agency theory and dividend policy theory. The sample of this research is 205 financial statements of companies listed on the Indonesia Stock Exchange for the period 2012-2019. The analytical method used is Path Analysis. The results show that an increase in asset revaluation reduces the company's level of leverage and future company performance, and an increase in the benefits of asset revaluation increases the company's dividend policy. The increase in leverage has a positive contribution to the company's performance in the future but does not have a significant effect on dividend policy due to the high level of company debt. Meanwhile, leverage does not mediate an increase in asset revaluation on future company performance and dividend policy. This study contributes to the improvement of the model to predict the company's future performance by implementing business strategies on asset revaluation and leverage.

Earnings Management, Debt Maturity, Dividend Policy and Future Performance of Manufacturing Companies in Indonesia

The purpose of this study is to examine the relationship between earnings management, debt maturity, and dividend policy on the future performance of manufacturing companies in the capital market in Indonesia. This study uses manufacturing companies listed on the Indonesian stock exchange in the period 2014 to 2019. Sampling in this study uses a purposive sampling technique. The data analysis method in this study is multiple regression analysis using 192 observational data. The results of this study find that simultaneously earnings management, debt maturity and dividend policy have a significant effect on the company's future performance. Partially, earnings management variables have a negative effect on the company's future performance, and the debt maturity variable has a positive effect on the company's future performance. The dividend policy variable partially has no effect on the company's future performance.

Effective Communication Management: A Factor for Development of International Companies in Our Day

The purpose of communication management at company level is to create and exploit all the categories of company assets by building up the communication space in a way to achieve the company competitiveness. Therefore, the quality of communication management in companies has become an indicator of their ability to create an internal and external environment that will help them gain the necessary market advantages. 
 The article contains results of an analysis of the phenomenon of communication management and causes of disruptions of effective communications in international companies. A review of previous research shows that international companies operating in multicultural environments face communication barriers affecting the performance of international partners. But once built in a right manner, communication management enables to overcome such cross-cultural barriers. When the peculiarities of cross-cultural communications are accounted for, it will allow to predict the behavior of foreign partners and avoid mistakes in management of international organizations and projects. Two aspects have critical importance for the prevention or quick settlement of conflicts: (i) a cautious and balanced strategic policy of company management, the readiness to grasp the causes of conflicts and change policy schemes to achieve a reasonable compromise, flexibility and adaptability of an organizational structure; (ii) deep awareness of the cultural environments in which an organization operates, and of the cultural origins of its staff. 
 It is concluded that due consideration for the cultural diversity can strengthen mutual understanding between the partners in communication. It is shown that communication management has impact on the organizational communication climate, whereas the latter have implications for future performance of international companies. The organizational communication climate is a proxy of the relationship between communication management and prevention of conflicts.

Pengaruh Ukuran Perusahaan, Likuiditas, dan Perataan Laba Terhadap Kualitas Laba

Earning s is a component of financial statements that describes the level of profitability of a company. The earning information listed on the financial statements should be of quality because investors can use profits to assess the company's future performance. This research aims to determine the influence of company size, liquidity, and income smoothing on earning quality in transportation sub-sector companies listed on the Indonesia Stock Exchange for the period 2015-2019. T o collect samples, this study uses purposive sampling which result in 45 firm observations. The data analysis technique used is multiple linear regression analysis. The result s showed that company's size, liquidity, and income smoothing have significant positive effect s on earning quality. In particular, the size of the company and income smoothing partially have significant positive effect s on earning quality. Meanwhile, liquidity has no effect on earning quality.

Perception of Millennial Workforce upon ICT and Organizational Learning and Innovative Performance: The Mediating Role of Ambidexterity

The company's future performance cannot be reflected only in the current financial performance in the financial statements. Long-term company performance can be reflected by the technology being developed. The role of information and communication technology (ICT) is very important for a company to survive and be able to compete in modern business competition in the era of industry 4.0. Meanwhile, learning organization is fostering communication, knowledge exchange in order to promote the innovation. Ambidexterity capability of organization develops structures to manage innovation and achieve sustained success over time. The purpose of this study is to examine the influence of ICT and organizational learning on firm’s innovative performance which mediated by ambidexterity based on millennial workforce perception. The result of this research found that ICT has significantly positive influence on ambidexterity, but not significantly positive influence on innovative performance. Learning organization has significantly positive influence both on ambidexterity and innovative performance. Ambidexterity has significantly influence on innovative performance. The mediating role of ambidexterity had significantly positive enhanced the influence ICT on innovative performance. Meanwhile, ambidexterity had not significantly positive enhance the influence learning organization on innovative performance.

The Effect of Using Fair Value Approach on Performance Prediction in Investment Companies

One of the most fundamental factors in pricing and evaluating the performance of companies is their profitability and profit is used as a basis for predicting the future performance of companies. Therefore, an accurate profit prediction is really crucial and decisive. There are various approaches to this prediction. The first approach would be calculating profit according to accounting standards by using historical cost and the second, calculating profit according to fair value. In this circumstance, this question arises that whether fair values are used instead of historical cost, would it lead to a more accurate and better prediction of the company's future performance? The purpose of this study is to investigate the effect of using the fair value in calculating profits on the performance of investment companies with the help of benchmarking international financial reporting standards for small and medium-sized units. This research uses the data of 95 companies listed on the Tehran Stock Exchange, whose activity is an investment, from 2015 through 2019 and compares the predictability of fair value-based profits with the profit based on accounting standards in predicting the company's operating cash flows and future profits. The data is first collected in Excel software, then the research variables are calculated and finally, research models are tested and analyzed by Eviews10. The results show that fair value-based profit has no greater ability to predict the performance of investment companies in comparison to profit based on Iranian accounting standards.

Narrative expectations in financial forecasting

AbstractHow do people form expectations about the future? We use amateur and expert investors' expectations about financial asset prices to study this question. Three experiments contrast the rational expectations assumption from neoclassical economics (investors forecast according to neoclassical financial theory) against two psychological theories of expectation formation—behaviorally informed expectations (investors understand empirical market anomalies and expect these anomalies to occur) and narrative expectations (investors use narrative thinking to predict future prices). Whereas neoclassical financial theory maintains that past public information cannot be used to predict future prices, participants used company performance information revealed before a base price quotation to project future price trends after that quotation (Experiment 1), contradicting rational expectations. Importantly, these projections were stronger when information concerned predictions about a company's future performance rather than actual data about its past performance, suggesting that people not only rely on financially irrelevant (but narratively relevant) information for making predictions but erroneously impose temporal order on that information. These biased predictions had downstream consequences for asset allocation choices (Experiment 2), and these choices were driven in part by affective reactions to the company performance news (Experiment 3). There were some mild effects of expertise, but overall the effects of narrative appear to be consistent across all levels of expertise studied, including professional financial analysts. We conclude by discussing the prospects for a narrative theory of choice that provide new microfoundational insights about economic behavior.

Analysis the effect of market anomalies and growth options on stock return

در بازارهای مالی اثر هر یک از ناهنجاری‌های سودآوری، درماندگی مالی، بخت‌آزمایی و ریسک غیر سیستماتیک بر بازده سهام به‌تنهایی بررسی شده است. اما ارتباط احتمالی آن‌ها نامشخص است. به‌تازگی این ادعا مطرح‌شده است که فرصت‌های رشد بر تقارن تابع توزیع بازده اثر می‌گذارد و قادر است این ارتباط احتمالی و صرف ریسک ناشی از این ناهنجاری‌ها را توضیح دهد. در این پژوهش با استفاده از خواص آماری حاکم بر گشتاور مرتبه سوم تابع توزیع بازده و با جداسازی چولگی ویژه مورد انتظار ناشی از فرصت‌های رشد این ارتباط بررسی شده است. بدین منظور داده‌های 114 شرکت پذیرفته‌شده در بورس اوراق بهادار تهران با رویکرد حذف سیستماتیک، بین سال‌های 1390 تا 1396 جمع‌آوری شد. فرضیه‌های پژوهش با استفاده از رویکرد سبد بندی و ارزیابی آلفای برخی مدل‌های عاملی آزمون شد. شواهد نشان می‌دهد بین سودآوری، درماندگی مالی، بخت‌آزمایی و ریسک غیر سیستماتیک با بازده آتی رابطه وجود دارد؛ اما مدل‌های مرسوم قیمت‌گذاری دارایی‌های سرمایه‌ای توانایی تبیین صرف ناشی از ناهنجاری‌های مذکور را ندارد. این شواهد به‌صورت غیرمستقیم مؤید وجود معمای سودآوری، بخت‌آزمایی و ریسک غیر سیستماتیک در بازار سرمایه ایران است و نشان می‌دهد سرمایه‌گذاران با گزینش راهبرد سرمایه‌گذاری مبتنی بر این ناهنجاری‌ها می‌توانند بازده متفاوتی داشته باشند.

Fresh in the saddle: The influence of a new CEO's vision and origin, and CEO succession type on market actors' reactions

CEO succession is a critical event in the life of a company. How external stakeholders respond to it, can affect the company's valuation. This study investigates how securities analysts' and investors' reactions to CEO succession are affected by the interplay between the charisma of the new CEO's vision, the new CEO's origin (whether an insider or outsider), and the type of CEO succession (whether routine, dismissal or interim). Drawing on the literature on signaling, we suggest that because a charismatic vision emits a positive signal about the company's future performance, it will affect market actors' reactions by either weakening or strengthening the influence of the signals emitted by other succession context contingencies, namely, CEO origin and succession type. To test our predictions regarding analysts' and investors' reactions, we respectively analyze panel data and conduct an event study. The results support most of our predictions. We discuss the study's contributions and implications.

Sales Dispersion: A Robust Factor to Consider to Achieve Alpha

How the divergence among investor opinions affects stock performance has been discussed in academia and industry for a long time without a clear conclusion. This research hypothesizes that companies with lower sales forecast dispersion can more accurately and efficiently plan strategies to optimize production, inventory control, and distribution channels, thereby minimizing waste and overall expenses. This, in turn, will increase long-term profitability. Using portfolio sorting analysis, this article documents that the lower the analyst sales dispersion, the bigger the company’s forecasting edge and the higher the probability of future stock outperformance per level of risk (alpha). Because sales is a more direct demand-driven evaluation measure than earnings and sales forecasts can be utilized to evaluate all companies, sales dispersion is more robust in predicting future stock performance than earnings dispersion. TOPICS:Performance measurement, analysis of individual factors/risk premia, wealth management Key Findings ▪ Revenue dispersion is a better factor than earnings dispersion to forecast future company and stock price performance. ▪ Revenue dispersion is robust enough to use as a factor to achieve alpha. ▪ Revenue dispersion is significantly more robust during periods of high market noise.

Management Audit as a Basis to Assess the Efficiency and Effectiveness of Marketing Function at the Inaya Putri Bali Hotel

This study aims to assess the efficiency and effectiveness of the implementation of the marketing function at the Inaya Putri Bali Hotel and reveal the findings obtained during the management audit. Based on findings audit, it can be given right recommendations to make company's future performance better. The data analysis techniques used are quantitative and qualitative methods. Data used is sourced from primary and secondary data through interviews, observations, and documentation. The research begins with collection of data and information relevant to marketing function then processed and analyzed in conformity with the company's plans and guidelines as well as calculation of effectiveness and efficiency levels of Revenue and marketing costs. The results of this research show efficiency of marketing function in Inaya Putri Bali Hotel runs efficiently, but effectiveness marketing function is still under standards company caused by decrease in income room, food and beverage. The company needs to evaluate all sales and marketing management staff, make an innovative promotion programs, make all sales personel to be active to attend exhibition,sales mission also hotel events and provide training to sales personnel periodically to support performance Inaya Putri Bali Hotel in maximizing the income of room, food and beverage for company.