Corporate Capitalism Research Articles

Exploring Factors Affecting Job Satisfaction and Organizational Commitment of Employees with Machine Learning Technique

본 연구는 한국직업능력개발원의 인적자본기업패널(HCCP) 7차년도 데이터를 활용하여 기업 구성원의 직무만족 및 조직몰입에 영향을 미치는 요인을 탐색하는 데 목적이 있다. 이를 위해 본 연구는기업 구성원의 직무만족 및 조직몰입에 따른 잠재프로파일을 분류하였으며, 직무만족 잠재프로파일및 조직몰입 잠재프로파일 예측을 위해 LASSO, Ridge, Randomforest, Support Vector Machine 등 4 가지 머신러닝 기법을 적용하였다. 분석결과, 첫째, 직무만족과 조직몰입은 각각 3개의 잠재프로파일로 구분되었다. 직무만족의 경우 각 잠재프로파일의 특징에 따라 ‘중간 직무만족 집단(계층 1)’, ‘낮은직무만족 집단(계층 2)’, ‘높은 직무만족 집단(계층 3)’으로 명명하였다. 조직몰입도 ‘낮은 조직몰입 집단(계층 1)’, ‘높은 조직몰입 집단(계층 2)’, ‘중간 조직몰입 집단(계층 3)’으로 구분되었다. 둘째, 직무만족과 조직몰입 계층을 예측하는데 Randomforest의 예측정확도가 각각 70.1%와 69.3%로 가장 높았다. 셋째, Randomforest로 직무만족과 조직몰입에 영향을 미치는 주요 변수를 탐색한 결과, 직무만족의경우 연간 총 근로소득, 출생년도, 기업과 근로자의 커뮤니케이션 및 신뢰관계, 주당 평균 초과 근로시간, 스트레스 등의 변수가 도출되었다. 조직몰입도 기업과 근로자의 커뮤니케이션 및 신뢰관계, 연간 총 근로소득, 출생년도, 주당 평균 초과 근로시간 등과 같은 변수가 선택되었다. 마지막으로 본 연구결과를 바탕으로 직무만족 및 조직몰입 향상을 위한 다양한 시사점을 제공하였다.The purpose of this study was to explore factors affecting job satisfaction and organizational commitment of employees using 7th wave of Human Capital Corporate Panel(HCCP) data. To do this, this study was to classify latent profiles based on job satisfaction and organizational commitment, and to apply four machine learing techniques(LASSO, Ridge, Randomforest and Support Vector Machine) to predict the identified latent profiles. As results, first, three different latent profiles were identified based on job satisfaction (middle job satisfaction, low job satisfaction and high job satisfaction) and three latent profiles were also identified based on organizational commitment(low organizational commitment, high organizational commitment, and middle organizational commitment). Second, Randomforest performed better than other techniques. Third. randomforest result revealed that main factors affecting job satisfaction were the annual earned income, year of birth, communication and trust relationship between the company and the worker, overtime work, stress and etc. For organizational commitment, communication and trust relationship, annual earned income, year of birth and overtime work were selected. Finally, based on the results, this study suggested implications to improve the employees’ job satisfaction and organizational commitment.

A destination-based allowance for corporate equity

Following renewed academic and policy interest in the destination-based principle for taxing profits—particularly through a destination-based cash-flow tax (DBCFT)—this paper studies other forms of efficient destination-based taxes. Specifically, it analyzes the Destination-Based Allowance for Corporate Equity (DBACE) and Allowance for Corporate Capital (DBACC). It describes adjustments that are required to turn an origin into a destination-based version of these taxes. These include adjustments to capital and equity, which are additional to the border adjustments needed under a DBCFT. The paper finds that the DBACC and DBACE reduce profit shifting and tax competition, but cannot fully eliminate them, with the DBACE more sensitive than the DBACC. Overall, given the potential major political cost of switching from an origin to a destination-based tax system, we conclude that advantages of the DBCFT are likely to outweigh the transitional advantages of the DBACE/DBACC.

The Effect of Asset Use Activities on Capital Structure, Business Risk, Financial Performance and Corporate Value (Study of Manufacturing Industry Companies in the Indonesia Stock Exchange)

This study aims to examine and explain the effect of the asset usage activities on the capital structure, business risk, financial performance and corporate value. Test and explain the effect of capital structure on the business risk, financial performance and corporate value. Test and explain the effect of the business risk on the financial performance and corporate value. Test and explain the effect of the financial performance on corporate value. Analysis techniques, using the generalized structured component analysis (GSCA). Data sampled 84 companies listed in Indonesia Stock Exchange in 2010 - 2015.The findings of this study is the asset usage activities has a significant negative effect on capital structure and a significant negative effect on business risk. The asset usage activities has a significant positive effect on financial performance and corporate value. The capital structure has a significant positive effect on business risk. The capital structure has a significant negative effect on financial performance, and is significantly positive to corporate value. The business risk has a significant negative effect on financial performance and corporate value. Financial performance has a significant positive effect on corporate value. The study concludes that asset usage activities can determine the capital structure, financial performance and corporate value. Therefore, the corporate's management and financial analysts can examine the asset usage activities and capital structure, busines risk and financial performance to predict the future value of the corporate. Keywords : Asset usage Activities, Capital Structure, Business Risk, Financial Performance, Corporate Values. DOI : 10.7176/EJBM/11-36-07 Publication date : December 31st 2019

CAPITAL STRUCTURE AND CORPORATE GOVERNANCE: EVIDENCE FROM EASTERN EUROPEAN LISTED COMPANIES

CAPITAL STRUCTURE AND CORPORATE GOVERNANCE: EVIDENCE FROM EASTERN EUROPEAN LISTED COMPANIES

Corporate Diversification and Capital Structure

We examine how corporate diversification affects financial leverage. Our results suggest economically large financing advantages of diversified firms, which allow them to borrow more than comparable focused firms. We identify causal effects in a novel shock-based difference-in-differences design using the introduction of new segment reporting standards (SFAS No. 131) as a quasi-natural experiment. SFAS 131 forced some firms to reveal previously hidden information about their level of firm diversification to outsiders, allowing us to exploit plausibly exogenous variation in a firm’s observed diversification status. Firms that newly reveal information about their diversification strategies substantially increase leverage after the introduction of the new standard. We use standalone firms whose segment disclosures were unaffected by SFAS 131 as a counterfactual. Our findings identify cash flow coinsurance as the main channel of the effect. Agency problems at the divisional level can offset the positive effect of the coinsurance channel.

Obscuring Corporate Violence: Corporate Manslaughter in Action

AbstractIn April 2008, the Corporate Manslaughter and Corporate Homicide Act 2007 (CMCHAct) came into force in the UK. Since then, the Act has failed to live up to expectations, resulting in only 26 convictions in the first decade of its existence, despite thousands of work‐related fatalities during this time. This article critically analyses these CMCHAct prosecutions in order to chronicle the problems of the law in action and to demonstrate how the Act serves to downplay the seriousness of corporate killing. In so doing, we approach law as an ‘active discourse’ that is mutually constitutive of the broader social formation, so that it both creates, but is also a product of, the capitalist social order. Thus we explore the extent to which the CMCHAct ultimately privileges dominant beliefs that corporate killing is not ‘true’ crime and that corporate capitalism is an inherent good that must be defended, not disrupted.

Simuliranje demokracije: emancipacija demokratske krize u esejistici Dubravke Ugrešić

One of the central notions of the post-Yugoslav literature is the status of democracy in national states formed after the breakup of Yugoslavia. From the perspective of the exile, not only as banishment, but also as a liberating outside view into the once common social, cultural and political space, the post-Yugoslav writers question the social democracy praxis in their former home states comparing it to the social practices in the states of their current residence. In her books of essays, Dubravka Ugrešić ironizes different forms of social ideology in Croatia from the beginning of nineteen-nineties. Her writing recognizes the standards of European democracy accompanied with the ideological view into the questions of social rights, religion and language as the stumbling block of modern society. Ugrešić describes democracy as a notion hiding different things: the praxis of ruthless capitalist exploitation, loss of media freedom, media manipulation, the censorship of corporate capitalism, production of lies, modern slavery... (Don’t take it personal, 2014), validating in her essays the importance of literature in disclosure of autocracy masked as democracy.

Roosevelt's Populism: The Kansas Oil War of 1905 and the Making of Corporate Capitalism

AbstractThe map of the American petroleum industry shifted rapidly from the Northeast to the Southwest at the turn of the twentieth century when spectacular gushers were struck first in Texas and soon in California, Kansas, and Oklahoma. The flood of small and mid-size oil producers broke the hold that the Standard Oil Company had for decades held on the industry. Competition defeated monopoly. Or so the conventional story goes. This article offers a more complicated narrative by focusing on conflicts between Standard Oil and independent producers in the booming towns of southeast Kansas in 1904 and 1905. In those years, John D. Rockefeller's firm established a monopoly through technologies of distribution and distillation and the production of scientific knowledge and opaque classifications of commodities. Oil producers revolted. A reform movement turned to the rhetoric and policy ideas of Populism as it sought to use state power to challenge the stranglehold of the “octopus.” This article explores the previously unrecognized significance of this movement by showing how the Kansas oil war contributed to the breakup of Standard Oil by the Supreme Court in 1911 and constituted one of the bottom-up sources for the reconstruction of American capitalism.

THE RETURN OF MEDIEVAL SOCIETY – CONTROL, SURVEILLANCE AND NEO-FEUDALISM IN THE AGE OF THE INTERNET

In this paper the medieval period is used as a prism to analyze and contextualize the intersection of mutual surveillance, corporate capitalism and information control. It is claimed that the interplay between big tech companies, nation states’ battle for control and citizens’ participatory surveillance, for instance exercised through social media, resembles medieval principles of feudalism and tight social control. As such, this is basically a paper discussing power related to the Internet, as it turns 50 years.
 The main argument is that apparently distinct social phenomena related to the dominance of Internet technologies share the same logics of control, surveillance and power as the feudalism that dominated medieval society. The states and big corporations both compete and cooperate, just like the states and the church in Middle Ages.

Capital Structure, Business Risk and Corporate Performance (Case Study on Construction and Real Estate Sector)

The purpose of this study is to examine the effect of capital structure and business risk on corporate performance. This study also examined the effect of non debt tax shield (NDTS) and sales growth (SG) on corporate performance with firm size (SIZ) as a control variable. Corporate performance is measured by return on assets (ROA), while capital structure is measured by debt to equity ratio (DER), and business risk meausred by degree of operating leverage (DOL). The population in this study is a company engaged in the construction and real estate sector that listed on the Indonesia Stock Exchange. The samples taken were 32 companies with purposive sampling. observations period for 3 years (2015-2017). Data is processed using ordinary least square (OLS). The results showed on the significance level 0.10, capital structure (DER) had a significant but negative effect on corporate performance. Business risk (DOL) and sales growth (SG) have a significant and positive effect on performance. While non debt tax shield (NDTS) and firm size (SIZ) have no significant effect on corporate performance.

Ownership Structure and Capital Structure: A Panel Data Study

Capital structure and ownership structure are two important concerns of overall firm's management. This paper studies the impact of ownership structure on the capital structure of the Indian manufacturing firms. The sample with a size of 1,150 manufacturing firms listed on Bombay Stock Exchange (BSE) of India and period of ten years from 2007 to 2016 has been deployed for purpose of the study. Panel data fixed effect model has been applied to test the relationship between capital structure and corporate governance factors. It was found that the ownership structure affects the capital structure decisions of the Indian manufacturing firms. Likewise, control variables like tangibility, age, growth, profitability and size are found to be significantly correlated with the firm's financial leverage. Thus, the findings of the study would enrich the literature on capital structure and comprehend the importance of ownership structure for the management of long-term funds.

Factors Contributing to Korean Employees’ Job Satisfaction: A Multilevel Study

In this study, we examined the contributing factors to the job satisfaction of employees in Korean organizations. We utilized hierarchical linear modeling (HLM), in conjunction with data collected from the Seventh Human Capital Corporate Panel survey conducted by the Korean Ministry of Employment and Labor, to investigate antecedents of job satisfaction at the individual and organizational levels and across these levels. At the individual level, variables were divided into demographic and psychological factors. At the organizational level, variables were divided into administration factors and factors related to human resources. Results suggest that 86% of job satisfaction can be attributed to individual-level variables and 14% is due to organization-level variables. The individual-level psychological factors explain around 46% of the variance in job satisfaction, whereas demographic factors explain only 4% at the individual level. Organizational-level factors account for almost 35% of the variance related to job satisfaction between companies.

The effect of actual workplace learning on job satisfaction and organizational commitment

PurposeThis study aims to examine the effect of workplace learning experience and intrinsic learning motive on job satisfaction and organizational commitment. In addition, the study examined the moderating effect of intrinsic learning motives on the relationship between learning experience and job satisfaction and organizational commitment.Design/methodology/approachThe current research used the Human Capital Corporate Panel survey data set, which aimed to explore how human resource development practices influence corporate performance. In all, 10,003 samples from 441 companies were used for data analysis.FindingsResults indicate that taking part in workplace learning programs positively affects job satisfaction and organizational commitment. Likewise, intrinsic learning motives are also positively related to work attitudes. However, no interaction effect between the intrinsic learning motive and the learning experience was found, which may imply that an autonomous extrinsic learning motive is a better predictor for explaining job satisfaction than is a purely intrinsic learning motive within an organizational context.Originality/valueLittle research has examined the actual effect of workplace learning programs on employees’ attitudes regarding job satisfaction and organizational commitment. Furthermore, to the authors’ knowledge, no research has examined the moderating effect of intrinsic learning motive with workplace learning experience on employees’ positive work attitudes.

Capital Structure and Corporate Performance of Selected Firms on the Nigerian Stock Exchange

Capital Structure and Corporate Performance of Selected Firms on the Nigerian Stock Exchange

From social gospel to CSR: Was corporate social responsibility ever radical?

Critics lament that corporate social responsibility has failed to significantly change business practices and that it became ‘de-radicalized’ once embraced by corporate business management. Using historical analysis, this article reevaluates this de-radicalization thesis, questioning whether corporate social responsibility ever was as inherently radical as the thesis assumes. The article demonstrates that early corporate social responsibility was already invested with a strategy of pragmatism, an investment that traces back to a group of late 19th and early 20th century American Christian reformists, also known as the social gospel movement. They promised that industrialism would unify Christian ethics and capitalist production, thereby reconciling the conflict between profitseeking and social solidarity. The discourse they advanced already contained what would later become key corporate social responsibility components, including (1) the notion of ethical businessmen, (2) the corporation as a morally conscious being and (3) collaboration as the pathway to ‘industrial peace’. Theoretically, the analysis finds inspiration in Luc Boltanski’s and Eve Chiapello’s thesis on modern capitalism’s capacity to assimilate the critiques it faces, supplemented by Michel Foucault’s fine-grained analyses of the transformation and ‘tactical polyvalence’ of discourse. The two positions complement each other in their assumptions regarding the dialectical relationship between capitalism/critique (Boltanski and Chiapello) and power/resistance (Foucault). Tracing the origins of corporate social responsibility’s pragmatism further back in time than the conventional starting point in the 1950s casts new light on the de-radicalization thesis. In particular, corporate social responsibility emphasizes personal ethics as the key to industrial peace, a social gospel legacy that has steered corporate social responsibility away from demands that fundamentally challenge corporate capitalism.

Instituições Experimentais de Arte na Europa nos anos noventa e dois mil

Este artigo propõe uma contextualização acerca de propostas realizadas em museus e centros de arte, a partir dos anos 1990, principalmente no âmbito europeu, para promover programas experimentais dentro de seus contextos institucionais. Tais propostas surgem em decorrência de ou como resposta a acontecimentos como: a gradual transformação das estruturas museológicas tradicionais em direção à possibilidade de emergência de novos modelos; a internalização das propostas de duas gerações de artistas engajados com a Crítica Institucional, que levaram à constituição de Instituições de Crítica; o surgimento da figura do curador independente; a reação dessas instituições diante da crescente influência do capitalismo globalizado e corporativo sobre a dinâmica das instituições de arte. É abordado, como exemplo de instituição experimental, o caso do basis voor actuele kunst (BAK). Observa-se, ainda, como muitas dessas experiências sofreram alterações como cortes orçamentários, mudanças de direcionamento político e substituição de diretores, o que levou diversos autores a indagar acerca da possibilidade de continuidade dessas experimentações institucionais.

Corporate Governance Quality and Capital Structure Decisions: Empirical Evidence from Canada

This study examines the relationship between corporate governance quality and capital structure of firms listed on the S&P/TSX composite index between 2009 and 2012. Using an aggregate corporate governance index, this study finds support for the outcome hypothesis, which argues that capital structure is an “outcome” of corporate governance quality. Governance quality is found to be positively associated with firms’ leverage. Firms with lower governance quality have lower leverage as these firms’ managers do not like to have only little free cash flow leftover or have extra constraints imposed by debt financing. In contrast, firms with higher governance quality are more leveraged because these firms have lower agency costs and thus lower cost of debt financing. As a result, they can take on more debts. The empirical evidence from this study illuminates important links between governance quality and financing decisions of firms.

Libertarianism(s) versus Postmodernism and 'Social Justice' Ideology

This Ludwig von Mises Memorial Lecture, sponsored by Yousif Almoayyed, was given at the Austrian Economics Research Conference at the Mises Institute on March 22, 2019. Coined by Ross Douthat of the _New York Times_, woke capitalism refers to a burgeoning wave of companies that apparently have become advocates of social justice. The newly "woke" corporations now support activist groups and social movements, while adding their voices to political debates. How can we understand woke capitalism, is it effective, and if so, why? Analyzing woke capitalism tells us a great deal about contemporary corporate capitalism, the contemporary political left, and the relationship between the two. It also recalls an earlier corporate leftism. It does not consist merely of rhetorical placebos, symbolic over economic concessions, or even the mere placating of liberal political elites. Woke capitalism or corporate leftism actually represents the corporate interests of the would-be monopolist, the corporate socialist, and the corporate leftist in general.

Соціальна функція держави та особливості її реалізації в умовах сучасних глобалізаційних викликів

Розглянуто наукові підходи до визначення соціальної функції держави. Проаналізовано сучасні тенденції у соціальному та економічному розвитку країн світу. Виокремлено окремі проблеми та особливості реалізації державою соціальної функції в умовах глобалізаційних процесів. Сформульовано авторське бачення стосовно призначення держави у контексті виконуваної нею соціальної функції. Окреслено актуальні для України питання щодо забезпечення виконання соціальної функції державою як інституційним утворенням, що покликане забезпечувати комфортне життєве середовище для проживання своїх громадян.

PENGARUH STRUKTUR MODAL, AKTIVITAS DAN MODAL KERJA TERHADAP PROFITABILITAS PADA PERUSAHAAN SUB SEKTOR OTOMOTIF DAN KOMPONEN YANG TERDAFTAR DI BURSA EFEK INDONESIA

This research results can be concluded as follows, average LTDER and ROA tend to decrease while the average TATO and working capital tend to increase, the results of multiple linear regression testing revealed that the capital structure, activities and working capital have a positive effect on profitability, the correlation coefficient test results have a strong relationship between capital structure, activities, working capital with profitability. While the coefficient of determination (R Square) states that profitability is influenced by capital structure, activities and working capital dan the research hypothesis H0 is rejected, meaning that the capital structure, working capital, activities and significant effect on profitability. The suggestions for company in this research is that companies optimize debt management so that the debt that has been turned into corporate capital can be maximized, optimize inventory to increase sales, further improve the management of working capital so that capital can be used optimally to increase profits, the company more maximize asset management so that there is no accumulation of funds that will result in more optimal profit. Keywords: Capital Structure, Activities, Working Capital and Profitability