Industrial Companies Research Articles

The impact of phasing out subsidy for financial performance of photovoltaic enterprises: evidence from “531 new policy” on China’s photovoltaic industry

In the past two decades, China’s government subsidy policy has promoted the rapid development of the photovoltaic industry. Concerns have been raised about how the financial performance of China’s photovoltaic firms changes with the gradual cancellation of subsidies. Taking the “531 New Policy” of China’s photovoltaic industry as an exogenous shock, based on the sample of listed companies in Shanghai and Shenzhen A-share photovoltaic industry from 2015 to 2023, this paper uses the diference-in-diferences model to study the impact of the phasing out subsidy on the financial performance of photovoltaic enterprises from the micro level. The study found that the implementation of the “531 New Policy” significantly reduced the financial performance of photovoltaic enterprises in general. Considering the difference of industrial chain links, the negative impact of decreasing subsidies on the financial performance of downstream photovoltaic enterprises is more significant, among which R&D investment plays a partially intermediary role. In addition, the phasing out subsidy has a more significant negative impact on the financial performance of senior and eastern enterprises than young and midwest enterprises. The conclusions of this study have important practical implications for photovoltaic enterprises’ decision-making under the changing external policy environment.

A hierarchical consensus reaching model based on trust and uncertain degree for heterogeneous large-scale group decision making and application to product design

Nowadays, due to the fierce market competition, companies in many industries needs to constantly introduce new products. How to select an optimal product design has become a widespread problem. Due to complexity and a large number of decision makers (DMs) participating in decision-making, this paper formulates the product design selection as a type of large-scale group decision making (LSGDM). Because of the differences in occupation, purpose, and personality of DMs in LSGDM, they prefer to provide evaluations by heterogeneous representation formats. A hierarchical consensus reaching model is developed based on trust and uncertain degree for heterogeneous LSGDM. Firstly, the heterogeneous evaluations of DMs are transformed into fuzzy preference relations (FPRs) through possibility degrees. According to trust relationships and original evaluations of DMs, the trust and uncertain degrees of DMs are extracted considering the inherent personalities and psychological traits implied in the heterogeneous evaluations. Thereby, this paper (1) constructs an optimization model to determine the weights of DMs and (2) divides the feedback mechanism into four cases. Case study of product design selection is provided to illustrate the applicability of the proposed model. Several comparisons validate the advantages of the proposed model.

FAKTOR-FAKTOR YANG MEMPENGARUHI CASH HOLDING PADA PERUSAHAAN SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA TAHUN 2016-2020

This study aims to obtain empirical evidence about the influence that affects cash holding on consumer goods industrial sector companies listed on the Indonesian stock exchange in 2016-2020. This research is a quantitative research with purposive sampling method and produced as many as 123 companies. Furthermore, for hypothesis testing is done with multiple linear regression model. By using the SPSS ver 21 application. The results show that leverage does not have a positive effect on cash holding, on growth opportunity on cash holding, and net working capital has no effect on cash holding. Implication of this study is for investors who will invest in consumer goods industrial companies by looking at cash holdings, they may ignore leverage, growth opportunity, and net working capital.

Literature Review on Human Resources Agility and Organizational Resilience in Industrial Companies in Jordan

Literature Review on Human Resources Agility and Organizational Resilience in Industrial Companies in Jordan

How data factor flow affects corporate pollution reduction: The environmental effects of digital empowerment

This study the theoretical hypotheses by building a relatively exogenous data factor flow indicator and a corporate pollution emission intensity indicator system using China's data flow restriction policy and corporate pollution emission data. Data factor is emerging as an essential new factor of production in today's digital economy, and data cannot function valuablely without an efficient flow. This study constructs a theoretical model of the influence of data factor flow on the pollution emissions of downstream manufacturing enterprises based on the vertical correlation of inputs and outputs. Additionally, we employ additional contaminants as a robustness test and sulfur dioxide, a common representation of air pollution, as the baseline. The empirical analysis's findings indicate that: (1) Data factor flow significantly reduces pollution in manufacturing enterprises. (2) The main way that data factor flow helps organizations minimize pollution is by increasing their productivity and ability to innovate in technology. (3) Domestic data flow is more important than cross-border data flow in helping industrial companies reduce pollution. (4) In general, foreign-owned enterprises have a greater need for data factor flow to reduce pollution than do state-owned and private businesses.

Analysis of Financial Performance in Cosmetics Industry Companies Listed on the Indonesian Stock Exchange

This study aimsto assess the financial performance of cosmetic companies listed on the Indonesia Stock Exchange during the 2017-2022 period using financial ratios with a quantitative method. The data used is secondary data. The sample consists of 5 companies selected using purposive sampling technique based on certain criteria. The results of the study show that the liquidity ratios (Current Ratio and Quick Ratio) are in good condition, while the solvency ratios (Debt To Asset and Debt To Equity), activity ratios (Fixed Asset Turnover and Total Asset Turnover), and profitability ratios (Return On Asset and Return On Equity) are in poor condition. Keywords: Financial Statements, Financial Performance, Financial Ratios.

Influence of Transport Process Management on Exceeding Permitted Load Weights in Transport Companies

Poland is the leader in the performance of international transport in the EU, serving more than half of its market. The most common branch of transport is road transport, predominantly heavy goods transport, which contributes to the strain on road infrastructure. Furthermore, around one-fifth of those vehicles may exceed the permissible total mass. In this respect, the increasing demand for road transport further complicates the slowdown and prevention of road network degradation. Overloads have significant consequences for road infrastructure, economics, and traffic safety. Load management in transport companies is crucial for eliminating overloads. This article aims to assess how companies conducting freight transport manage the cargo weighing process in the context of potential overloads. Data from a survey among transport industry companies in Poland were analysed. Using non-parametric U Mann-Whitney and Kruskal-Wallis tests, the influence between propensity for cargo overloading and the method of cargo weighing was examined. The results indicated that the propensity for cargo overloading in TSL industry companies is significantly associated with both the occurrence of the weighing process and its method, as well as the responsibility for this process among individual participants in the transport process.

A Financial Analysis and Valuation of Netflix

As the streaming competition has intensified in recent years, Netflix has maintained its highest subscriber base since its inception, and research has shown that Netflix's success has had a significant impact on investors making the right investment decisions. This paper examines why Netflix, a streaming platform, outperforms its competitors. Choose Comcast; the other four most prominent companies in the entertainment industry, Walt Disney, Paramount Global, and WBD, perform a comparative analysis of financial data on liquidity, solvency, and profitability. The conclusion is that Netflix has plenty of liquidity, significant even available funds, robust debt management, and excellent profitability. Based on valuation analysis, it can be seen that Netflix has managed both its _A and financial performance well and has a range of operational strategies. However, considering the unknown market changes (such as stronger competitors and a possible slowdown in its user growth), its stock price is considered to be overvalued when taking all factors into account.

Digitalisation of manufacturing and innovation: the role of inbound open innovation and environmental turbulence in enabling Industry 4.0-based innovation

Industry 4.0 (I4.0) technologies have demonstrated their potential to significantly drive innovation and enhance the performance of firms. However, I4.0 implementation is complex, requiring the application of diverse fields of knowledge and skill. Furthermore, although open innovation may contribute to the implementation of I4.0 technologies, the literature is still not clear about which open innovation practices best leverage the adoption of I4.0 technologies or how they might lead to improvements in product and process innovations, particularly when firms are facing turbulent environments. The present article aims to reduce this gap by investigating the relationships between open innovation, the adoption of I4.0 technologies, and product and process innovation performance, considering technological and market turbulence as moderating variables. As a research method, we carried out a quantitative survey of 246 industrial companies in Brazil. The results revealed that inbound open innovation flows can be used to support the adoption of I4.0 technologies, which in turn improves both process and product innovation performance. Our findings also indicate that in more technologically turbulent environments, the relationship between inbound open innovation and the adoption of I4.0 is stronger. Unexpectedly, the moderating role of market turbulence was not confirmed. The discussion arising from these findings addresses theoretical implications for the digitalisation of manufacturing, innovation management and contingency theory, as well as offering practical insights for managers and policymakers interested in performing I4.0-based innovation.

ROC and COPRAS Algorithms in a Decision Support System for Employee Career Assessment

PT. Union Confectionery, a long-established company in the confectionery production industry, had encountered significant challenges in managing employee career progression, including transfers, demotions, and promotions. The primary issue faced was the difficulty in conducting objective employee performance assessments and determining the appropriate criteria for career development. These assessments involved various complex factors such as work experience, discipline, education level, age, job performance, attendance, teamwork, and work ethics. To address these challenges, this study proposed the implementation of a web-based Decision Support System (DSS) utilizing the Rank Order Centroid (ROC) method for criteria weighting and the Complex Proportional Assessment (COPRAS) method for ranking decisions. The implementation of this system was expected to assist the management of PT. Union Confectionery in making more accurate and transparent decisions, while also improving employee satisfaction and operational efficiency. This research also compared previous studies that used similar methods for performance assessment, albeit with a narrower focus, specifically at the supervisory level. The findings from this study were anticipated to provide a comprehensive and innovative solution for employee career management across all levels of PT. Union Confectionery’s organization, as well as contribute to the development of more effective human resource management practices.

IT-services: Green Means Competitive?

Introduction. The current stage of economic development is characterised by significant digitalisation and a noticeable shift of corporate strategies in favour of sustainable development. The first of these trends makes IT companies interesting for analysis, since in the era of digitalisation their impact on the global economy is significant and undeniable. The second trend is largely related to the exhaustion of tangible competitive factors and the shift of focus towards intangible competitive factors, in particular, towards catering to the specific needs of consumers, i.e. in the consideration of social and environmental factors throughout value chains. In line with modern trends, meeting these needs is achieved by implementing ESG-principles, including by IT companies, which is where the two major modern trends - digitalisation and corporate sustainability intertwine. In this context, the aim of the research is to analyse the relationship between IT companies’ financial performance and their ESG position.Materials and methods. The study is based on the analysis of correlation between the data of companies' financial statements and their valuations within the framework of S&P ESG-rating. Results of the research. According to the results of the analysis on the basis of the presented data sample, no significant correlation between revenue and profit indicators (on the one hand) and ESG[1]assessments of S&P rating (on the other hand) was revealed.Discussion and conclusion. The results obtained for companies in the IT-services industry generally correspond to the results of similar calculations by the authors for a number of other industries. Of course, they reflect the situation in a particular industry, with specific indicators (profit, revenue), taking into account such limitations of the study as the methodology of the selected ESG-rating and the volume of data sampling. Nevertheless, within the framework of the study we can say that there is no significant correlation between the financial performance of IT services companies and the implementation of ESG principles by these ccompanies.

Does corporate governance differ by sector? An analysis under good practice criteria. The case of Spain.

The aim of this paper is to analyse how the factors remuneration, supervision and board structure influence the good corporate governance of companies in the Spanish Continuous Market. This paper develops, for the first time, an index based on the recommendations defined in the Good Governance Code of Listed Companies. This paper measures remuneration, monitoring and governance structure and employs a multiple linear regression model modelling corporate governance as a latent factor. Based on this model, this research presents empirical evidence of the relationship between corporate governance and the defined variables, considering Spanish Continuous Market firms disaggregated by sector. To date, there are no studies that have taken into account the analysis for all sectors in the same country. Among the conclusions, the research finds that the larger a company is, the better the mechanisms for providing an optimal degree of governance, as is the case in the oil, energy and technology sectors. In another sense, the higher the number of proprietary directors the lower the levels of good governance, mainly in basic materials, industrial, construction and consumer goods and services companies. The empirical results also justify the inclusion of Corporate Governance-related factors in governance regulation.

The improvement of business performance in the shipbuilding sector driven by digital transformation and decarbonisation, and its impact on human resources

This study analyses the relationship between digital transformation, decarbonisation and Human Resource Management (HRM) on performance in the naval sector, with the aim of empirically confirming a correlation between these variables, achieving a deeper knowledge that allows companies to upgrade their results. The methodology used to obtain the results and contrast the hypothesis model has been the Partial Least Squares (PLS), using data from 102 questionnaires collected from employees belonging to the sector. The findings of this research represent a new contribution to the literature: the results of the analysis found evidence of decarbonisation contributing favourably to HRM, leading to performance improvement in the naval industry companies, as well as a positive correlation between digital transformation and performance. However, there was no sufficient evidence to prove the direct relationship between decarbonisation and performance in the sector. Finally, the results found in this research could be utilised as evidence to consider the trend variables in the current business environment to influence business model design aiming to promote efficiency and improvement of the results of the organisations in the naval sector. HIGHLIGHTS Improved performance in the shipbuilding sector Study on the importance of digital transformation, decarbonisation and human resource management in the shipbuilding sector. Development, validation and evaluation of a proposed hypothesis model based on the Partial Least Squares method. Conclusions for industry managers, so that they can design business models that improve performance.

The Impact of R&D Investment on The Financialization of Enterprises —— Take The Manufacturing Industry as An Example

In recent years, the excessive investment of entity enterprises leads to the phenomenon of enterprise financialization, which makes the development of entity enterprises fall into a vicious circle. How to restrain the excessive financialization trend of enterprises and promote the high-quality development of real enterprises has become an urgent problem to be solved. Based on the financial data of listed companies in A-share manufacturing industry from 2008 to 2022, this paper studies the possible inhibitory effect of enterprise R&D investment on finalized investment from the perspective of asset allocation and market competition. The results show that R&D investment is significantly negatively correlated with the level of enterprise financialization, that is, R&D investment can restrain enterprise financialization to a certain extent. Further research shows that increasing cash holding and increasing market power are two intermediary paths for R&D investment to restrain the financialization of enterprises.

The Role of Accounting Disclosure of Environmental Costs in Egyptian Industrial Companies: An Applied Study on Some Companies Listed on the Egyptian Stock Exchange

The Role of Accounting Disclosure of Environmental Costs in Egyptian Industrial Companies: An Applied Study on Some Companies Listed on the Egyptian Stock Exchange

A Study on Recycling Waste Materials in Construction Industry

The development of the construction industry has been greatly increasing over these decades. The high construction number produces several issues including waste. Waste materials in the construction industry have been one of the concerns due to high generation and most of them ended up in landfill. However, it is believed that these waste materials are recyclable. It is also adequate to be used in the construction industry for environmental sustainability as well as to reduce dependence on natural resources. Therefore, the primary objective of this research is to identify practices applied in the construction industry in recycling waste materials. Moreover, this study also serves the purpose to analyse the advantages and disadvantages of the common practices applied in recycling waste materials. Last but not least, it is expected as well throughout this study, that a recommendation may be made based on the effectiveness of recycling. To test the theories, an online questionnaire survey was conducted with 66 respondents from experts in the construction industry. The collected data further will be analysed using Statistical Package for Social Sciences (SPSS) version 26.0 software. From the results, the majority of the construction industry companies in Malaysia are aware of the waste management issue and practice waste materials recycling. The most recycled wastes are paper, cardboard, timber, and metal while the least recycled wastes are glass and asphalt due to their difficulties. Some of the waste categories are recycled by direct reuse methods such as timber and cardboard. Moreover, there is still room to improve the effectiveness of the current recycling system specifically in terms of operational cost. The current recycling system is beneficial in terms of resources, economic, and natural resource dependencies. Furthermore, the quality and reliability of the recycled products still need further improvement to be used as the main materials in the construction industry.

The impact of integration between lean accounting and just-in-time technique on cost reduction in modern sustainable manufacturing environment in Saudi companies

This article examines the impact of integration between Lean Accounting (LA) tools and Just-in-Time (JIT) techniques on Cost Reduction (CR) in a modern sustainable manufacturing environment in Saudi companies, Ethical Standards (ESs) mediate these two variables. A quantitative methodology was used for realizing the study goals and answering study questions. The main tool used for producing the primary data was a fully structured questionnaire with closed-ended questions which was designed and distributed online through a chosen sample of 109 managers and accountants in Saudi industrialization companies. Descriptive and deductive statistics were adopted to deduce the findings. The gathered responses analyzed by SPSS and AMOS and the results pointed out that there is a direct and indirect impact of LA tools and JIT techniques on CR in Saudi industrial companies especially when using ESs. Moreover, these findings could provide decision- makers in Saudi manufacturing companies with the importance of adopting both methods in an integrated way to maximize the profits of these firms. The practical implications of this study are that the implementation of these methods has a positive impact on the promotion of sustainable manufacturing and consequently the achievement of distinct sustainable performance.

Sun exposure and challenges of sun protection in adolescents and young adults: A prevalence observational study.

The present study aimed to explore the adherence to and efficiency of skin protection measures among teenagers and young adults. The present study investigated the reasons for sun exposure and the obstacles impeding sun protection. In the summer of 2023, a self-reported questionnaire was posted on the social media account of two high schools, a university, some industrial companies and among the teenage children of a dermatology clinic. Descriptive statistics and multivariate logistic regression analyses were performed to assess the reasons for sun exposure behavior, sun protection measures and the frequency of sunburn among individuals aged 15 to 25 year. A total of 517 young individuals completed the questionnaire. It was found that 43.5% use a hat as a means of sun protection, and only 10% try to limit their exposure to the sun. Nevertheless, 78.7% indicate the use of sun cream, 61.7% expose themselves frequently or very frequently to the sun, and 51.2% exposed themselves to the sun for tanning. Young females were statistically more prone to tan [odds ratio (OR), 2.95; 95% confidence interval (CI), 1.95-4.46] P=0.03 than males. Males exposed themselves to a 3-fold greater extent during recreational activities (OR, 2.98; 95% CI, 1.56-5.69) P=0,025, compared to females. On the whole, the present study demonstrates that young individuals aged 15 to 25 years are exposing themselves too frequently to the sun. A large proportion of individuals still wishes to acquire a tan. Even if the large majority of individuals uses sunscreen, the majority of these do not protect themselves correctly since they report becoming sunburnt frequently.

Supply chain strategies in a global context: a customer value-based perspective

ABSTRACT Customer value is influenced by several factors, which impose major challenges to global Supply Chains (SCs) and their management. This study aims to understand how companies tackle these challenges by focusing their global SC management on major strategies and supporting practices. Based on customer value theory, and recognising major trends affecting what end consumers value, we identify four global SC strategies: customer-driven, service-driven, resource-efficient, and closed-loop. A multiple case study carried out in eleven companies in the consumer goods industry explores the practices adopted per each SC strategy in managing global sourcing, production, and distribution networks. Results show the key requirement of selecting tailored practices for SC management that align with the context and the value expected by customers. Operational SC practices entail managing collaborative actions both up and downstream and competing with other SCs and can benefit from the implementation of appropriate digital technologies for customer value creation and delivery, as well as for continuous learning about customer needs.

Prediction of Overall Equipment Effectiveness in Assembly Processes Using Machine Learning

Abstract Nowadays, a lot of data is generated in production and also in the domain of assembly, from which different patterns can be extracted using machine learning methods with the support of data mining. With the support of various modern technical and Information Technology (IT) tools, the recording, storage and processing of large amounts of data is now a routine activity. Based on machine learning, efficiency metrics including Overall Equipment Effectiveness (OEE), can be partially predicted, but industrial companies need more accurate and reliable methods. The analyzed algorithms can be used in general for all production units or machines where production data is recorded by Manufacturing Execution System (MES) or other Enterprise Resource Planning (ERP) systems are available. This paper presents and determinates which most used machine learning methods should be combined with each other in order to achieve a better prediction result.