Ownership Control Research Articles

Differential Value of Cash Holdings According to Ownership–Control Disparity

Differential Value of Cash Holdings According to Ownership–Control Disparity

How to Extend China’s Rural Land Contracts for Another 30 Years: A Psychological Ownership Perspective

In China’s rural land system, the collective owns the land, and farmers, as members of the collective, can acquire land contractual management rights through land contracting. With the second round of land contracts nearing expiration, the central government has announced that the term should be extended for 30 years. This paper introduces the theory of psychological ownership to explore the implementation paths of the 30-year extension policy. The study finds that (1) farmers generally exhibit strong psychological ownership towards the contracted land. (2) The Household Contract Responsibility System satisfies the three routes for the formation of psychological ownership—control, intimate knowledge, and self-investment. As the duration of farmers’ possession of contracted land extends, their psychological ownership gradually forms and strengthens. (3) Farmers’ psychological ownership has both positive and negative effects. The 30-year extension policy must adhere to the path dependence formed by the evolution of the land contract system, comply with the institutional constraints imposed by rural land collective ownership, and simultaneously meet the practical demands posed by urban–rural integration and agricultural development. Drawing on the complex effects of farmers’ psychological ownership and considering the historical, institutional, and practical contexts of policy implementation, this study proposes the dual necessity of facilitating and restraining farmers’ psychological ownership when extending for another 30 years and offers corresponding policy suggestions. Facilitation requires empowering farmers with more stable land possession and stronger land rights. Restraint requires preventing the permanent locking of rural land allocation patterns to achieve fair and efficient land allocation.

The power of governance: unraveling the influence of voluntary disclosure on bank’s value in Pakistan

PurposeThis study aims to examine the influence of voluntary disclosure on bank value in Pakistan, considering the moderating effect of corporate governance characteristics: ownership control, board independence and board size.Design/methodology/approachThe study uses data from 20 listed Pakistani banks for the period 2011–2021. The estimation contains robust fixed effect and its assumptions, and a model of standard error with panel corrections.FindingsThe findings revealed a weak positive impact of voluntary disclosure on bank value. However, the increase in the number of independent directors strengthens the positive impact of voluntary disclosure on a bank’s value. Conversely, increasing the ownership concentration, and board size (other than independent directors) may strongly decrease the impact of voluntary disclosure on a bank’s value in Pakistan.Research limitations/implicationsThe study’s limitations include its exclusive focus on the Pakistani banking industry. Future research should take into account newer contexts and data. The findings suggest that future research should investigate the topic in various contexts, including a comparison of Islamic and conventional banks.Practical implicationsThe practical implications for Pakistani banks emphasize transparency, board composition and ownership structure. In terms of managerial implications, using independent directors, aligning ownership interests and addressing disclosure challenges are highlighted.Originality/valueFocusing on independent directors, ownership concentration and board size, this study enhances knowledge of the impact of voluntary disclosure on bank value in Pakistan. It contributes to agency theory and the literature in this domain.

Impact of Ownership Structure and Dividends on Firm Risk and Market Liquidity

This article examines the impact of ownership structure and dividend payouts on idiosyncratic risk and market liquidity using agency, signaling, and bankruptcy theories from an emerging market perspective. The evidence shows that family firms dominate and have concentrated ownership, and dividend payouts are lower among family firms than their counterparts. The idiosyncratic risk is high among firms with higher family ownership concentration. The family ownership concentration and control positively influence the (firm) risk, dividends positively affect the market liquidity, and risk relates negatively to the market liquidity, supporting the entrenchment of the minority shareholders’ proposition that a significant payout leads to a decrease in information asymmetry and a lower level of risk. The study further supports the proposition that information asymmetries are central to elucidating the dynamics of dividend payouts and their effects on firm risk and market liquidity. The evidence confirms that family ownership concentration affects policy decisions, especially ownership control. The paper’s originality lies in factoring ownership concentration when analyzing how payouts affect firm risk and market liquidity from an emerging markets perspective where controlling shareholders enjoy substantial private benefits, whereas minority shareholders have limited protection.

Family business sustainability: the impact of governance and women’s empowerment in Saudi Arabia

Due to their strong emotional interest and ownership control, family firm owners significantly influence their firm’s strategies and governance, which has consequences for their business sustainability practices. The failure to establish or maintain formal organizational structures, and adopt good governance principles, may hinder family firms in their pursuit of long-term sustainability. This study empirically investigated the impact of corporate governance on family firms’ sustainability, with women’s empowerment and culture as moderating and mediating factors, respectively. Data for the study were obtained from a sample of 126 family firms from Saudi Arabia. The study adopted the partial least squares structural equation modelling (PLS-SEM) method. The study results empirically confirmed that corporate governance is positively associated with women’s empowerment, which also assists in achieving business sustainability in family-controlled firms. The adoption of good corporate governance policies, and empowerment of women through their appointment on corporate boards operating in a supportive culture, can reinforce an organization’s mission, purpose and strategies, which can create an enabling environment for family business sustainability.

IoT-powered personalization: creating the optimal shopping experience in digital twin VFRs

A digital twin is a virtual data model that accurately maps and simulates a physical entity. Consumers can use digital twin technology to try on clothes in virtual fitting rooms (VFRs), thereby expressing their individuality. The primary objective of this study is to enhance the understanding of consumers’ psychological state when shopping with VFRs. This will provide managers with a more comprehensive understanding of customer profiles and minimize the cognitive gap between managers and customers. This study primarily utilized Statistical Package for the Social Sciences (SPSS) and partial least squares- structural equation modeling (PLS-SEM) for analysis. The sample consisted of 356 participants from Taiwan, primarily users of VFRs. Bootstrapping of 50,00 iterations was employed to ascertain the significance of the hypotheses. The research reveals that psychological factors such as a sense of ownership control, rehearsability, and self-efficacy significantly enhance self-referencing. This, in turn, significantly influences purchase intentions within VFRs featuring digital avatars. Additionally, perceived augmentation moderates the relationship between a sense of ownership control and self-efficacy. Our primary contribution in this paper is to elucidate customers’ subjective experiences when using VFRs, thereby addressing the dearth of research on VFRs and providing practical insights for industry managers.

Problems and tasks of improving land management system in the Republic of Kazakhstan

The article considers the sphere of land management in the Republic of Kazakhstan. The purpose of the study is to determine problems of land management system in the republic and the tasks of its improvement in the future. The research methodology included a desk method for collecting and analyzing data on the activities of land administration authorities. The problems were identified in the following three areas: legislative regulation of land use, management and control of state ownership of land, the process of digitalization of land management. As a result, it was found that the national land administration system does not fully meet the needs of the modern economy. In order to improve the land management system, it is proposed to solve the following tasks: to improve the quality of legal regulation; carry out a complete digitization of land; form an integrated electronic land management system; develop and implement the state program “Digital Land Management” until 2025. The results of the study contribute to the development of a new land management model in Kazakhstan, aimed at encouraging the national government to develop a new land management strategy, increasing the transparency of the management system as well as simplifying the process of administration in this area.

The role of moderation family ownership control in corporate governance mechanisms for earning management in group companies in Indonesia

The purpose of this study is to examine and analyze the effect of corporate governance on earnings management with ownership control as a moderating factor. The object of this study is issuer group companies listed on the Indonesia Stock Exchange. The sampling method used was purposive sampling. The method of data analysis in this study is Statistical Product and Service Solutions (SPSS) using the SPSS Statistics 24 program. The results of this study are The Corporate Governance moderated by family control has a significant effect on earnings management. The number of families who own shares as well as occupy positions in the company reinforces the influence of management decisions on earnings management. The contribution of this study strengthens the theory and previous research.

DataMesh+: A Blockchain-Powered Peer-to-Peer Data Exchange Model for Self-Sovereign Data Marketplaces.

In contemporary data-driven economies, data has become a valuable digital asset that is eligible for trading and monetization. Peer-to-peer (P2P) marketplaces play a crucial role in establishing direct connections between data providers and consumers. However, traditional data marketplaces exhibit inadequacies. Functioning as centralized platforms, they suffer from issues such as insufficient trust, transparency, fairness, accountability, and security. Moreover, users lack consent and ownership control over their data. To address these issues, we propose DataMesh+, an innovative blockchain-powered, decentralized P2P data exchange model for self-sovereign data marketplaces. This user-centric decentralized approach leverages blockchain-based smart contracts to enable fair, transparent, reliable, and secure data trading marketplaces, empowering users to retain full sovereignty and control over their data. In this article, we describe the design and implementation of our approach, which was developed to demonstrate its feasibility. We evaluated the model's acceptability and reliability through experimental testing and validation. Furthermore, we assessed the security and performance in terms of smart contract deployment and transaction execution costs, as well as the blockchain and storage network performance.

EStore: A User-Friendly Encrypted Storage Scheme for Distributed File Systems.

In this paper, we propose a user-friendly encrypted storage scheme named EStore, which is based on the Hadoop distributed file system. Users can make use of cloud-based distributed file systems to collaborate with each other. However, most data are processed and stored in plaintext, which is out of the owner's control after it has been uploaded and shared. Meanwhile, simple encryption guarantees the confidentiality of uploaded data but reduces availability. Furthermore, it is difficult to deal with complex key management as there is the problem whereby a single key encrypts different files, thus increasing the risk of leakage. In order to solve the issues above, we put forward an encrypted storage model and a threat model, designed with corresponding system architecture to cope with these requirements. Further, we designed and implemented six sets of protocols to meet users' requirements for security and use. EStore manages users and their keys through registration and authentication, and we developed a searchable encryption module and encryption/decryption module to support ciphertext retrieval and secure data outsourcing, which will only minimally increase the calculation overhead of the client and storage redundancy. Users are invulnerable compared to the original file system. Finally, we conducted a security analysis of the protocols to demonstrate that EStore is feasible and secure.

Exploring the Development of Agency Theory: Review of theory

This article provides a comprehensive overview of agency theory, from its theoretical foundations. It first delves into the key concepts, perspectives, challenges, and problems associated with agency theory, drawing on an extensive review of existing literature. The discussion then explores the theoretical underpinnings of agency theory, scrutinizing a range of interconnected concepts and associated challenges. The article documents empirical findings that shed light on the mechanisms aimed at mitigating agency costs. The article also highlights several elements that can give rise to a conflict of interest and agency expenses, such as the division between ownership and management control, varying risk preferences, information imbalances, and ethical risks. Subsequently, it underscores several solutions that have been suggested in scholarly works. These include strengthening ownership control, promoting managerial ownership, incorporating independent board members, and establishing diverse committees, among others. These strategies are proposed as effective means of addressing agency conflicts and their associated costs. We argue that This review of the literature will improve the understanding of both practitioners and researchers, assisting in the examination and alleviation of the agency issue.

Implementation And Design of Security System On Motorcycle Vehicles Using Raspberry Pi3-Based GPS Tracker And Facedetection

One of the nations where land transportation is frequently employed is Indonesia, particularly on motorbikes or two-wheeled vehicles. Since there is not much economic growth to maintain the high level of sales, there are many people without jobs, which leads to criminality, particularly motorcycle theft. The rate of motorbike theft in society is currently rising. The researchers developed a security system using a GPS Tracker whose control was handled by a two-channel relay in response to the rise in motorbike theft. The webcam camera produces the greatest images when it is hidden by a tree. 100% of the time, Relay Components work to control the horn and electricity. Due to the short read-time of the location the first time, GPS has a high accuracy. The Raspberry Pi3 can send, receive, and process commands to the motorcycle security system. The motion sensors, vibration sensors, raspberry pi microcontrollers, relays, and servo motors make up the system architecture in general. This method operates when the motor produces a lot of vibration. The sensor will relay the vibration to the Raspberry Pi microcontroller's output and the microcontroller will then deliver a warning notification message. In the event of a theft, the motorcycle will be immediately within the owner's control. In addition, with security using facedetection, the public can detect the perpetrators of theft and it takes quite a long time to work on it. The security system on motorbikes using facedetection takes a long time to produce, but it can't be done optimally. The purpose of this creation is to improve the security system on motorcycles to make it more efficient and effective in identifying the perpetrators of theft. This system consists of a Raspberry Pi3 as the control center, a picamera as a face detector, and a buzzer as an alarm.

Non-linear relationship between control ownership and cumulative abnormal return: A new predictive tool for firms’ performance

Purpose: The primary aim of the paper was to find out the non-linear relationship between ownership structure and the Cumulative Abnormal Return (CAR) of companies listed on the Muscat Stock Exchange (MSE) from 2013 to 2020.
 Design/Methodology/Approach: The Cumulative Abnormal Return (CAR) has been implied to determine the accuracy and ability of investors to predict stock performance and select an investment basket.
 Findings: The effect of Control Ownership (CO) on Cumulative Abnormal Return (CAR) of Muscat Stock Exchange (MSE) listed companies is negative which indicates that with increasing Control Ownership (CO) of stock, stock returns will fluctuate and Cumulative Abnormal Return (CAR) will decrease. Moreover, the results of the research show that the effect of Control Ownership Squared (CO2) on the Cumulative Abnormal Return (CAR) of Muscat Stock Exchange (MSE) listed companies is positive.
 Conclusion: The effect of the Herfindahl-Hirschman Index including institutional ownership, the Board of Directors (BOD) and the volume of stock exchanges is significant on the Cumulative Abnormal Return (CAR) of companies listed on the Muscat Stock Exchange (MSE).
 Practical Implications and Contribution to Literature: This research indicates that by increasing Control Ownership (CO) of the stock, the fluctuations of stocks’ returns and the Cumulative Abnormal Return (CAR) of Muscat Stock Exchange (MSE) listed companies will primarily decrease but the increase in CO will increase the volatility of the corporation’s Cumulative Abnormal Return (CAR). In fact, it was claimed that the relationship between CO and CAR is similar to a U-shaped parabola.

Using system dynamics to understand long-term impact of new mobility services and sustainable mobility policies: an analysis pre- and post-COVID-19 pandemic in Rio de Janeiro, Brazil

ABSTRACT Sustainable transport policies are fundamental to adapt transport capacity to existing and future travel demand. In this context, this study aims to develop a System Dynamics (SD), to verify the effects of these policies, focusing on congestion and air pollution. Combined with the SD, the discrete choice utility approach was used to predict the modal share in different policy spaces. In addition, it is carried out a case study in Rio de Janeiro in two realities: pre- and post-pandemic. The results show how mitigation policies can reduce transport externalities (congestion and pollution). The encouragement of high-capacity public transport and car ownership control are the best measures, obtaining high simulation scores. The post-pandemic scenario shows that reducing travel demand is the key to achieving better results. All scores obtained in this scenario are better than in pre-pandemic scenario. Finally, results point out that ride-hailing should be used in a conscious way.

Historical Military Conflict and Cross‐Border VC Performance: The Role of Ownership Control

AbstractThis study investigates the effect of historical military conflict (between the home countries of venture capital (VC) firms and portfolio companies) on the performance of cross‐border VC investments. Using exhaustive data on global cross‐border investments during 1986–2017, we find that adverse memories imprinted by historical military conflict have a negative effect on cross‐border performance as measured by internal rate of return and public market equivalent. We show that nation‐dyadic (i.e. political affinity) and ownership control strategy (i.e. board seat and syndication)‐related contingencies moderate the relationship between historical military conflict and cross‐border performance. Collectively, our findings shed light on the presence of intergroup interaction challenges and mistrust when investing in cross‐border VC deals and demonstrate channels to mitigate their adverse effects.

Foreign Ownership Control and the Bilateral Investment Treaties in South Asian Countries

Foreign Ownership Control and the Bilateral Investment Treaties in South Asian Countries

Managing geopolitical risks: the global oil and gas industry plays a winning game

Purpose Geopolitical risks associated with the return of great power politics and growing nationalism have generated new challenges for foreign investors across industries. Oil and gas companies are well acquainted with such risks and have developed strategies to manage them. This paper reviews five of these strategies: divorcing ownership control from operating control in designing collaborative ventures; proactively managing stakeholder relationships; ensuring transparency and communication; diversifying risks while proactively positioning for emerging opportunities; and deliberately planning for exit should such an eventuality arise. Firms outside of oil and gas can draw on these strategies as they navigate the emerging geopolitical context. Design/methodology/approach This paper reviews five strategies that oil and gas companies can use to manage geopolitical risk: divorcing ownership control from operating control in designing collaborative ventures; proactively managing stakeholder relationships; ensuring transparency and communication; diversifying risks while proactively positioning for emerging opportunities; and deliberately planning for exit should such an eventuality arise. Findings This study identifies several strategies that oil and gas companies have used to manage geopolitical risks. These tools will be increasingly important in the shifting global political landscape. Originality/value Drawing on the experiences of oil and gas companies, this study has identified several strategies that companies can use to shield themselves from the risks that are currently emanating from geopolitics. While these best practices originate in the experiences of oil and gas firms, the ability to deftly manage geopolitical risks is becoming an important prerequisite for companies across industries.

Corporate governance, political connection, and foreign ownership control: The property rights theory perspective

Over time, the reduction in foreign ownership in Indonesia has prompted questions about its causes. The country is still perceived to have low corporate governance standards and a high level of political connections. The aim of this study is to investigate whether corporate governance and political connections have an impact on foreign ownership. The study utilized manufacturing company data from 2018 to 2021, comprising 48 companies with 192 observations. The findings of the study indicate that foreign investors tend to decrease their investment in companies with strong corporate governance. The study reveals that a firm with robust corporate governance becomes an attractive target for local investors to acquire ownership. The findings provide evidence of a decrease in the proportion of foreign investors in such companies. Instead, foreign investors continue to view companies with political connections as potential concern for surveillance. This study uses another argument to explain how the structure of foreign ownership in Indonesia uses the property right theory. Policy-making authorities can make policies to support corporate governance arrangements and support to reduce the level of corruption so as to support the investment climate in Indonesia. This research can be used as a new insight to understand how the investment climate is, but has not considered aspects related to environmental and social issues

Urban Taxi Slogans: The People's Arts

Urban Taxi Slogans: The People's Arts

Survey on Relational Database Watermarking Employing Evolutionary Methods

Ownership control, integrity, and tamper-proofing of relational data are essential concerns that must be addressed as the communication (network) system grows. Over the past several years, a plethora of potential solutions has been proposed to address these issues (including cryptography, steganography, digital signatures, watermarks, and many others). Digital watermarking (comparatively new) is a technology that aids in the resolution of issues such as data theft, authenticity, and copyright claims. This paper’s primary contributions are as follows: 1) Examine evolutionary algorithm-based watermarking in relational databases that provide optimize data encoding space in search space which provides high robustness and imperceptibility. 2) Examine contemporary database watermarking strategies based on evolutionary algorithms for high embedding capacity and watermark bit insertion. 3) Malicious agent tracing through cluster-based (mainly fuzzy c-mean clustering algorithm or based on a hash function) or multiple watermarking approaches over shared or collaborative networks. This article focuses on watermarking numeric relational databases for authentication and integrity. Also provide a brief overview of the development of relational database watermarking and emergence, its characteristics and application, and the popular research methods currently in use. In addition, gist on various possible attacks. At last, this paper suggests directions for further research in these areas. Researchers can use the findings of this study to build secure watermarking methods for databases.