Data Regression Research Articles

The Relationship Between CS and Profitability: Evidence on Chinese List Firms

One of the central questions that continues to be discussed in the financial sector is how a company's capital structure (CS) impacts its profitability .In China, with the gradual improvement of the market economic system and capital markets development, this relationship is particularly concerned .This study analyses the correlation between metrics such as long- and short-term debt ratio (LSDR), gearing ratio (GR), total assets (TA), current ratio (CR), and return on total assets (ROA) to understand how a company's financial performance is affected by the allocation of its CS. In this regard, many studies are based on a particular industry, and the results differ. This experiment examines the data of 100 companies from different industries from 2010-2021 and provides strategic recommendations for firms to optimize their CS by providing data analysis and regression models. Multicollinearity Problem was also tested with VIF value, together with self-related issue was examined by Durbin Watson values. This research will help managers to optimize the current assets and debt structure, balance financing methods, and monitor financial indicators to enhance debt repayment and profitability.

DETERMINANTS OF STOCK PRICES AND THE IMPLICATIONS FOR COMPANY VALUE WITH MODERATION OF COMPANY SIZE (EMPIRICAL STUDY ON COMPANIES LISTED IN LQ INDEX 45)

This research is aimed at finding out the determinants of share prices, namely Return On Assets (ROA), Net Profit Margin (NPM), Earning Per Share (EPS), Economic Growth, Exchange Rates and Inflation and their implications for company value which is moderated by company size (Study Empirical on Companies Listed on the LQ 45 Index). The method used is panel data regression using the Eviews program. Using a target population of 45 companies and a sample of 22 companies listed on the LQ 45 Index. Return On Assets (ROA), Net Profit Margin (NPM), Earning Per Share (EPS), Economic Growth, Exchange Rates and Inflation affect share prices respectively by 3.98%, 1.685%, 69.46%, 0.896% , 1.1368%, 0.44%. Together, Return On Assets (ROA), Net Profit Margin (NPM), Earning Per Share (EPS), Economic Growth, Exchange Rates and Inflation affect share prices by 72.59%. Of the six variables, Earning Per Share has a more dominant influence on share prices. This research also concluded that share prices have an effect on company value by 79.91%. The influence of share prices on company value through company size is 82.74%, meaning that company size can moderate share prices on company value.

On the improved estimation of the normal mixture components for longitudinal data

When analyzing real data sets, statisticians often face the question that the data are heterogeneous and it may not necessarily be possible to model this heterogeneity directly. One natural option in this case is to use the methods based on finite mixtures. The key question in these techniques often is what is the best number of mixtures or, depending on the focus of the analysis, the best number of sub-populations when the model is otherwise fixed. Moreover, when the distribution of the response variable deviates from meeting the assumptions, it's common to employ an appropriate transformation to align the distribution with the model's requirements. To solve the problem in the mixture regression context we propose a technique based on the scaled Box-Cox transformation for normal mixtures. The specific focus here is on mixture regression for longitudinal data, the so-called trajectory analysis. We present interesting practical results as well as simulation experiments to demonstrate that our method yields reasonable results. Associated R-programs are also provided.

Pediatrician Work Hours: 2013-2022.

To examine individual variation in total and direct patient care work hours annually across a decade and identify associations of work hours with pediatrician characteristics and measures of work-life balance. Using data from the American Academy of Pediatrics Pediatrician Life and Career Experience Study (PLACES), a national longitudinal study, we examined total work and direct patient care hours reported by the same pediatricians each year, 2013-2022. Yearly participation ranged from 75% to 94%. We examined work-hour patterns using mixed-effects linear regression for longitudinal data. We also developed pediatrician profiles based on work hours and direct patient care time and explored associations with multiple measures of work-life balance. Analyses included 12 864 observations from 1696 pediatricians. Mean hours per week across years were 42.8 for total and 33.3 for direct patient care work. A mixed-effects model examined total work hours. The largest associations showed men working more than women (B = 7.22; 95% CI, 6.04-8.39) and subspecialists from large subspecialties working more than general pediatricians (B = 7.20; 95% CI, 6.11-8.29). There was a slight decrease in total hours found across years (B = -0.12; 95% CI, -0.21 to -0.03). Pediatricians who worked more hours reported lower work-life balance. Pediatricians working a greater portion of their time in direct patient care did not report worse work-life balance. Direct patient care made up three-fourths of total work hours, and pediatricians reported a slight annual decrease in hours worked. Men, subspecialists, and hospitalists were likely to work more hours, and higher work hours were negatively associated with work-life balance.

Beyond organizational limits: uncovering the effect of capitalism on environmental disclosure practices

Purpose This study aims to examine the effect of the characteristics of capitalism on environmental disclosure. Design/methodology/approach Over a 10-year period (2009–2018), the study examined the environmental disclosure of 3,253 companies located in 16 countries. Environmental disclosure was the dependent variable and the independent variables were economic freedom index, foreign direct investment, availability of specialized training services, corruption perception index and protection of property rights. The hypotheses were tested using panel data regression with fixed effects. Findings The findings showed that in countries with greater economic freedom, less availability of specialized services and less corruption, companies disclose more environmental information. The authors find evidence that confirms the main thesis of the varieties of capitalism approach: the behavior of firms is shaped by the relations between the state and society. Practical implications Managers should pay greater attention to the country’s institutional issues before installing or relocating their industries, as certain national institutions support the development of valuable capacities at the company-level, such as environmental disclosure. Originality/value This study reinforces the understanding of how national institutions can influence environmental disclosure practices, adopting new variables to represent the characteristics of capitalism. Although many previous studies have analyzed the effect of the institutional environment on environmental disclosure, it is still unclear how companies engage with environmental issues in different capitalist contexts.

Governance for a greener Europe: audit committee and carbon emission

Purpose This study aims to examine the impact of Audit Committee (AC) characteristics on carbon disclosures and performance among companies listed in the STOXX Europe 600 index. Design/methodology/approach The sample consists of companies listed in the STOXX Europe 600 index over a 11-year period (2012–2022). The study uses panel data regression methods and uses the two-step system generalized method of moments to control for endogeneity. Findings The results indicate that AC size, independence and financial expertise positively influence carbon disclosure, highlighting the significance of these characteristics in promoting transparency and accountability in reporting carbon emissions. Additionally, these attributes are significantly associated with improved carbon performance, suggesting their potential role in advancing environmental sustainability. Practical implications The study provides practical insights for policymakers and regulatory bodies aiming to enhance carbon-related practices through improved corporate governance (CG) structures. By emphasizing the importance of specific AC characteristics, the findings suggest pathways for enhancing the quality of carbon disclosures and performance. Originality/value Despite extensive attention on CG in promoting sustainability, the specific influence of AC characteristics on carbon disclosures and performance remains underexplored. This study addresses this significant literature gap and, to the best of the authors’ knowledge, is the first to link AC characteristics with both carbon disclosure and performance. It enriches the current body of knowledge in agency theory and provides critical insights for developing CG and regulatory policies that enhance the quality of carbon disclosures.

The Effect of Financial Performance and Corporate Social Responsibility on Firm Value with Firm Size as a Control Variable

The main objective of this research is to explore how financial performance and corporate social responsibility influence the value of companies in the consumer goods industry in Indonesia, using firm size as a factor to consider. The study will concentrate on companies listed on the Indonesia Stock Exchange from 2021 to 2023. The research will gather data from previous studies and select samples based on specific criteria. A total of 285 samples will be analysed in this study. The data will be analysed using panel data regression analysis, which is suitable for examining how the variables interact with each other over the designated time period. The results of this research indicate that companies with higher profitability, as measured by Return on Assets (ROA), tend to have a greater firm value. Conversely, there was no notable impact on firm value from Corporate Social Responsibility (CSR), implying that consumers and investors may not rate CSR initiatives highly when evaluating company worth. Furthermore, the variable of firm size was shown to have a significant influence on firm value, with larger companies usually having a higher firm value.

Pengaruh Perencanaan Pajak, Beban Pajak Tangguhan, Aset Pajak Tangguhan, Dan Komisaris Independen Terhadap Manajemen Laba

The purpose of this research is to examine the impact of Tax Planning, Deferred Tax Expenses, Deferred Tax Assets, and Independent Commissioners on Profit Management in Energy Sector Companies listed on the Indonesia Stock Exchange (BEI) during the period from 2018 to 2023. This study utilizes secondary data, specifically the annual financial reports of the companies. It employs a quantitative research approach. The total population consists of 87 companies in the energy sector, with purposive sampling as the chosen method. The study uses a sample of 15 companies over a 6-year observation period, resulting in a total of 90 observation objects. The analysis technique applied in this research is panel data regression analysis, utilizing the common effect regression model. Data processing was carried out using Eviews version 13 and Microsoft Office Excel. The findings indicate that tax planning, deferred tax expenses, deferred tax assets, and independent commissioners have a simultaneous effect on earnings management. Specifically, tax planning does not influence earnings management, deferred tax expenses also do not impact earnings management, deferred tax assets do influence earnings management, and independent commissioners have no effect on earnings management.

Kebijakan Deviden Menjadi Moderasi Profitabilitas, Leverage, Free Cash Flow Terhadap Price to Book Value Industri Makanan, Minuman dan Farmasi Tahun 2018 - 2023

The purpose of this study is to analyze and obtain empirical evidence on the impact of profitability, leverage, and free cash flow on firm value through dividend policy in companies within the Food, Beverage, and Pharmaceutical subsector from 2018 to 2023. The research was conducted on 18 companies using purposive sampling for the period 2018-2023. The data analysis method used was panel data regression, employing Structural Equation Modeling (SEM) with Stata 17 software. The results of the study reveal the following Return on Equity (ROE) has a significant positive effect on Price to Book Value (PBV), Debt-to-Equity Ratio (DER) has a positive but not significant effect on PBV, Free Cash Flow (FCF) has a positive but not significant effect on PBV, Dividend Payout Ratio (DPR) has a significant positive effect on PBV, ROE has a significant positive indirect effect on firm value (PBV) through dividend policy, DER has a negative but not significant indirect effect on PBV through dividend policy, FCF has a positive but not significant indirect effect on PBV through dividend policy. These findings suggest that while profitability, as measured by ROE, directly and indirectly enhances firm value, leverage and free cash flow do not show significant direct or indirect effects on firm value within the observed period and subsector.

Investment preferences of institutional investors in Indonesia: A comparative analysis of pressure-sensitive and pressure-insensitive groups

This study investigates the investment preferences of institutional investors in Indonesia, focusing on the factors influencing stock selection. A comparative analysis is conducted between pressure-sensitive and pressure-insensitive investor groups to explore how different factors such as corporate social responsibility, corporate governance, shariah-compliant stocks, and financial indicators, including profitability, liquidity, and risk, affect their investment decisions. Data from 938 observations across 253 manufacturing companies listed on the Indonesia Stock Exchange were analyzed using panel data regression. The period was chosen because it captures a stable economic period in Indonesia, allowing for an accurate assessment of investment patterns without major external shocks. The results reveal that institutional investors favor stocks listed on the Indonesia Shariah Stock Index (ISSI), perceived as low-risk investments. Pressure-sensitive investors, such as banks and insurance companies, prefer companies with close business affiliations, while pressure-insensitive investors, such as mutual funds and pension funds, prioritize financial performance and corporate governance. Additionally, the study finds that the debt-to-asset ratio and inclusion in the Shariah index significantly affect institutional ownership, indicating a preference for leveraged companies with ethical investment profiles. This study provides a deeper understanding of the varying preferences between institutional investor groups, highlighting the significance of ethical considerations, financial stability, and corporate governance in emerging markets.

Pengaruh PAD, DAK, dan DAU Terhadap Perilaku Oportunistik Penyusun Anggaran pada Pemerintah Provinsi Sumatera

This research aims to examine the effect of Regional Original Revenue (PAD), Special Allocation Funds (DAK), and General Allocation Funds (DAU) on the Opportunistic Behavior of Budget Preparer in Provincial Governments in Sumatra in 2018-2022. The data used in this research is panel data from 10 Provinces in Sumatra in year 2018 up to year 2022. This research utilizes secondary data in the form of LRA (Budget Realization Report) of the Provincial Government obtained from the BPK RI website and expenditure data based on functions obtained from the DJPK website. The analysis method used is panel data regression analysis using the Eviews 12 program. The results of this study show that partially Regional Original Revenue (PAD) and Special Allocation Funds (DAK) have an influence on the Opportunistic Behavior of Budget Preparer in Provincial Governments in Sumatra, while General Allocation Funds (DAU) partially have no influence on the Opportunistic Behavior of Budget Preparer in Provincial Governments in Sumatra. Regional Original Revenue (PAD), Special Allocation Funds (DAK), and General Allocation Funds (DAU) simultaneously have an influence on the Opportunistic Behavior of Budget Preparer in Provincial Governments in Sumatra.

Air Pollution Concentrations and Their Determinants in the Top Ten Most Polluted Countries in the World in 2010-2020

This study analyzes air pollution concentration and its determinants in ten countries with the highest levels of air pollution from 2010 to 2020. Air pollution has become a global issue affecting both human health and the environment. The study uses secondary data and applies two analytical tools: a concentration index to identify countries with the highest air pollution levels, and panel data regression to analyze its determinants. Air pollution is proxied by CO2 emissions. The results indicate that eight out of ten countries have a concentration index greater than one, with Japan, South Korea, and Germany ranking as the top three countries with the highest air pollution concentrations. The population variable has a positive and significant impact on air pollution concentration in these countries. Conversely, the energy consumption variable has a negative and significant effect on air pollution concentration. On the other hand, economic growth does not have a significant effect on air pollution concentration. The study's implications highlight the need for a transition to more efficient and renewable energy sources as a crucial step in reducing the negative impacts of air pollution. Stricter environmental policies and increased investments in eco-friendly technologies are highly recommended to address this issue

INVESTIGATE THE RELATIONSHIP BETWEEN CORPORATE SOCIAL RESPONSIBILITY COST AND FINANCIAL PERFORMANCE OF QUOTED OIL AND GAS COMPANIES IN NIGERIA FROM 2018-2023

Despite the increasing militancy pressures and agitations, the oil and gas firms operating in Nigeria have remained adamant to the discharge of their corporate social responsibility, on the inimical pretence that it constitutes a drain on their financial position. This study investigate the relationship between corporate social responsibility cost and financial performance of quoted oil and gas companies in Nigeria from 2018-2023. Community development cost, and employee benefits cost were the proxies corporate social responsibility while net profit margin and return on investment were the proxies of financial performance. The researchers adopted expost- facto research design for the study. The study used secondary data obtained from the audited annual reports and accounts of the nine quoted oil and gas firms’ website and the Nigeria stock exchange fact book as at November 8, 2024. The research data was analyzed using basic descriptive, Pearson product moment correlation and multiple regression in a cross sectional data with the aid of SPSS version 27. The findings revealed that all the CSR proxies significantly related with net profit margin and return on investment of listed oil and gas firms in Nigeria in the period of this study. We thus concluded that corporate social responsibility has significant relationship with financial performance of quoted oil and gas firms in Nigeria in the period of this study. We recommended that Management of oil companies should develop a well-articulated corporate social responsibility and prioritize their spending regarding human resource development, community development, and environmental protection in order to guarantee a conflict free corporate atmosphere needed by managers and workers for maximum productivity and robust financial performance.

Financial Distress dan Leverage pada Pengungkapan Sustainability Report

The research aims to empirically prove the influence of financial distress and leverage on sustainability report disclosure with media visibility as a control variable. Non-financial companies listed on the Indonesia Stock Exchange from 2018 to 2022 were chosen as the population for this study. Sample of 415 observations was selected using nonprobability sampling method with purposive sampling technique. Data in this research were analyzed using panel data regression analysis technique with Eviews 12. The research results indicate that financial distress has a negative effect on sustainability report disclosure. Leverage does not have an influence on sustainability report disclosure. Media visibility has a positive influence on sustainability report disclosure and needs to be maintained as a control variable. Keywords: Financial Distress; Leverage; Sustainability Report Disclosure; Media Visibility.

PENGARUH BEBAN PAJAK KINI, BEBAN PAJAK TANGGUHAN, TAX TO BOOK RATIO, DAN LEVERAGE TERHADAP KINERJA KEUANGAN (Studi Empiris Pada Perusahaan Sektor Kesehatan yang Terdaftar di Bursa Efek Indonesia 2021-2023)

This research is a quantitative study that aims to determine the effect of current tax burden, deferred tax burden, tax to book ratio, and leverage on financial performance in pharmaceutical health sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2021-2023. In determining the sample of this study using purposive sampling technique, so that 15 samples of companies that meet the criteria are obtained with three years of observation so that the total observations used in this study are 45 reports. This study uses secondary data obtained from the company's financial statements. The data analysis technique uses panel data regression analysis (pooled data) with the help of Eviews 12. The results showed that partially the current tax expense variable has a significant effect on financial performance, the deferred tax expense variable has no significant effect on financial performance, the tax to book ratio variable has a significant effect on financial performance, and the leverage variable has a significant effect on financial performance. From this study also obtained the coefficient of determination (R2) with a value of 0,6528, means that 65.28% of disclosure is explained by the variables between current tax expense, deferred tax expense, tax to book ratio, and leverage. While 34.72% is explained by other variables outside the model.

Relationship between profitability and dividend payout from industrial companies listed at Dar es Salaam Stock Exchange, Tanzania

The creation of profits is necessary in order to distribute dividends to shareholders after investment. Previous studies focused on dividend payments and macroeconomic conditions. The aim of this paper is to investigate the connection between profitability and dividend pay-out in Tanzanian industrial companies that are listed on the Dar es Salaam Stock Exchange (DSE). The study used a panel data research design and a quantitative technique. The research conducted from 2009 to 2023, 105 firm-year data points from seven industry categories were analyzed. The study was to compile significance data through documentary review. Panel data regression was used to evaluate the research data both descriptively and inferentially. The findings of the research showed a strong positive association (P < 0.005) between manufacturing firms' profitability and dividend payout. All things considered; the findings indicate that industrial enterprises listed on the DSE are primarily motivated by profit. The study suggests that manufacturing companies should raise their profitability to attract more capital and raise the dividend payment ratio.

The Influence of Non-Interest Income on the Profitability of Conventional Banks Listed on the Indonesia Stock Exchange

This study analyzes the factors that influence the profitability of conventional banks in Indonesia with Return on Assets (ROA) as the main measure. This study uses a quantitative method with panel data regression to examine the effect of Non-Interest Income (NII), bank size, Loan Loss Provision (LLP), Capital Adequacy Ratio (CAR), and overhead costs on the profitability of conventional banks listed on the Indonesia Stock Exchange (IDX) in the period 2019–2024. Data were obtained from annual financial reports and other secondary sources such as IDX, Bank Indonesia, and the World Bank. The results showed that NII did not have a significant effect on profitability, indicating that conventional banks still rely on interest income as the main source of profit. Bank size has a positive effect on ROA, with larger banks benefiting from economies of scale and operational efficiency. LLP has a negative effect on profitability, indicating that increasing loan loss provisions reduce bank profits. CAR has a positive effect, indicating that strong capitalization increases investor confidence and financial stability. Meanwhile, overhead costs have a negative effect on ROA, emphasizing the importance of operational efficiency in increasing profitability. This study recommends further research considering Islamic banks and macroeconomic factors for a more comprehensive understanding of banking profitability in Indonesia.

Partial Least Squares Regression for Binary Data

Partial Least Squares Regression for Binary Data

Pengaruh Pendapatan Per Kapita Penggunaan Energi, Keterbukaan Perdagangan dan Kepadatan Penduduk terhadap Degradasi Lingkungan

The study was conducted with the aim of analyzing the effect of per capita income, energy use, trade openness and population density on environmental degradation in BRICS and MINT countries and proving the validity of the Environmental Kuznets Curve (EKC) hypothesis. The data used is time series data during 2010-2022 and the cross-section consists of nine countries, namely Brazil, Russia, India, China, South Africa, Mexico, Indonesia, Nigeria, and Turkey. Data sources were obtained from the Global Carbon Atlas, World Bank, and Our World In Data using panel data regression analysis techniques. The results showed that per capita income, energy use, trade openness and population density had a positive and significant effect on environmental degradation, and proved the EKC hypothesis in BRICS and MINT countries even though it has not reached a turning point.

Analisis Faktor-Faktor yang Mempengaruhi Peringkat Sukuk di Indonesia

Objectives: This study aims to analyze the factors that affect the ranking of sukuk. This analysis is useful for optimizing sukuk investment decision-making. Design/method/approach: This quantitative research uses data from the annual reports of companies with sukuk and sukuk rating reports. The sample is 90 sukuk companies listed on the Indonesia Stock Exchange and still outstanding during the 2021-2023 period, so 270 data were obtained. The data were analyzed with panel data regression analysis on SPSS software.Results/findings: The results show that the size of the board of commissioners and sukuk type have a positive influence on the sukuk rating, the leverage variable has a negative influence on the sukuk rating. Variables that have no influence on the sukuk rating are the number of audit committees and asset growth.Theoretical contribution: The findings of this research can improve the understanding in the field of financial accounting and become a reference for conducting further research on sukuk rating.Practice/policy contribution: This study offers investors guidance on the key factors influencing sukuk ratings, which serve as a basis for sukuk investment.Limitations: The years observed in this study are limited from 2021 to 2023. In addition, the research object only focuses on the sukuk of companies listed on the Indonesia Stock Exchange