Financial Managers Research Articles

Incorporating q-Rung Picture Fuzzy Frank Prioritized Weighted Aggregators with Multimoora Strategy for Decision Making

The Frank norm operators and ˇq-rung picture fuzzy sets offer a versatile framework due to their adjustable parameters. Conversely, prioritized weighted operators are crucial for indicating the relative significance of alternatives and attributes. In this research, we have devised Frank’s prioritized weighted procedure for ˇq-rung picture fuzzy numbers. Thus, the ˇq-rung picture fuzzy prioritized weighted Frank averaging (ˇq-RPFPWFA) and geometric (ˇq-RPFPWFG) operators are presented and analyzed along with some of their properties. Utilizing these proposed operators, a novel approach is established, combining the enhanced MULTIMOORA (MM) procedure with unspecified weight data. A numerical example regarding the multiple attribute group decision making (MAGDM) problem of selecting the financial director of a residential society is handled based upon the aforementioned procedure. Furthermore, we have compared the results with those obtained using available operators. Evidently, the novel ˇq-RPFPWFA and ˇq-RPFPWFG aggregators with the MM technique yield reasonable and consistent outcomes for solving MAGDM.

АВТОМАТИЗАЦІЯ ЗБОРУ ТА АНАЛІЗУ ЗВІТНОСТІ ШКІЛ ІЗ ВИКОРИСТАННЯ КОШТІВ ДЕРЖАВНИХ ОСВІТНІХ СУБВЕНЦІЙ

The availability of reliable educational statistical, administrative, and financial information is a prerequisite for the development of effective educational policy. The importance of the reliability of educational management information has only increased since Russian military invasion of Ukraine in 2022. In these circumstances, a detailed analysis of the use of state educational subventions as the main budgetary instrument for financing education is needed. Increased transparency and automation of information gathering can be achieved by introducing an information system for collecting and analyzing school reports on the use of state educational subventions. Currently, such generalized information is collected by the State Treasury Service of Ukraine (STSU) starting from the level of the territorial community, but it is not available to educational managers. The purpose of this study is to formulate a methodology for developing information and analytical tools for automated collection and analysis of financial statements of general secondary education institutions using state educational subventions in order to increase transparency and efficiency of budget funds, create preconditions for the formation of reliable data, on the basis of which it will be possible to make informed financial and organisational decisions, evaluate their effectiveness at all levels of educational management. The article analyzes the existing reporting forms submitted by the general secondary education institutions (GSEI), and the regulatory framework for their submission. Improving the reliability and quality of the collected financial data can be achieved by developing and implementing an information subsystem (module) for automated gathering and analysis of this information from the level of GSEIs in the environment of the software and hardware complex "Automated Information Complex of Educational Management", which is already used by education managers. The requirements for such a module and its interaction with the already available information in the SHC AICOM and other state information systems are substantiated. It is shown that the optimal way is to organize automated collection of financial information from the level of general secondary schools. The implementation of the module will improve the information support of educational and financial managers, and will allow for a comprehensive solution to the issues of local education development.

Maturity diversification: The use of foreign and domestic bonds

Raising capital to support the execution of an organization's strategy is one of the most important responsibilities of financial managers. In our analysis we examine the characteristics of issued debt, specifically the maturity and market of issuance. Our empirical analysis finds that firms issue bonds to diversify their bond maturity profile using both foreign and domestic markets. Although firms primarily raise debt using their domestic markets, they use both foreign and domestic markets especially at the short and long maturities. Beyond diversifying their maturity portfolio, borrowing decisions are influenced by factors such as asset maturity, credit worthiness, and transparency.

Agri-SME managers' perception of financial management practices in Tanzania

Agribusiness Small and Medium Enterprises (Agri-SMEs) handle 60 % of all food production and trade worldwide. Despite their crucial contribution to developing economies, there is a widespread concern about their poor performance, largely due to poor Financial Management Practices (FMPs). This study used a survey of 427 Agri-SMEs in Tanzania to investigate managers’ perception towards FMPs and whether the implementation of FMPs impact the achievement of Agri-SME business objectives. Descriptive statistics were employed to characterize managers’ technological and financial backgrounds. Structural Equation Modeling (SEM) was employed to assess perceived ease of use of FMPs and perceived usefulness of FMPs. The findings revealed that managers' perceptions of financial management practices significantly and positively influence the organizational performance of Agri-SMEs. Specifically, the perceived usefulness and ease of use of financial practices were key drivers of improved performance. Additionally, about 62 % of Agri-SMEs have not adopted Enterprise Resource Planning (ERP) systems. Furthermore, 63 % of Agri-SME managers report limited exposure to financial management training. These findings imply that there is need for enhanced financial management technology adoption and managers’ frequency retooling on financial management practices.

The Influence of Leadership, Competence and Motivation on the Performance of Congregational Financial Management at Port Numbay Klassis

This study aims to analyze the influence of leadership, motivation, and competence on the performance of congregation financial management at the GKI Port Numbay Klassis. This study employed a quantitative approach with an explanatory design to investigate the impact of leadership, competence, and motivation on the performance of congregation financial managers in Klasis Port Numbay. Data were collected through surveys and interviews with 98 financial managers across 49 congregations, with cluster sampling used to represent the population. The analysis included validity, reliability, and classical assumption tests, followed by multiple regression analysis to determine each independent variable's influence on performance, individually and collectively. The research found that leadership, competence, and motivation play crucial roles in enhancing the performance of financial managers in the congregation at Klasis GKI Port Numbay. Effective leadership provides clear direction and motivation, leading to improved performance. High competence in skills, knowledge, and work attitude significantly contributes to the managers' ability to perform their tasks optimally. Additionally, strong motivation among financial managers is key to achieving set performance targets. Leadership, competence, and motivation significantly influence the performance of financial managers, highlighting their importance in ensuring efficient and effective financial management in a church setting.

The Influence of Leverage, Profitability, Liquidity and Tax Planning on Company Value in Consumption Goods Industry Sector Companies on the Indonesian Stock Exchange

This study aims to examine and analyze the effect of leverage, profitability, liquidity, and tax planning on company value in consumer goods industry sector companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2021. It is a quantitative study using panel data analysis, employing methods such as the Chow test, Hausman test, Lagrange multiplier test, classical assumption tests, and hypothesis testing through Eviews 12 software. The study population includes companies in the consumer goods sector registered on the IDX between 2019 and 2021. A purposive sampling method was applied, resulting in 28 companies and a total of 84 observations. The data utilized are secondary and obtained from the official IDX website (www.idx.co.id) and company websites. The findings demonstrate that profitability has a positive and significant effect on firm value, indicating that more profitable companies tend to increase their market value. In contrast, leverage, liquidity, and tax planning do not show significant effects on firm value. However, when considered simultaneously, leverage, profitability, liquidity, and tax planning collectively influence firm value. These results underscore the importance of profitability as a key driver of firm value in the consumer goods industry, suggesting that companies should prioritize strategies to enhance profitability to improve market valuation. The study’s findings have implications for financial managers, investors, and policymakers, as they highlight the limited role of leverage, liquidity, and tax planning in directly influencing firm value, prompting a reevaluation of how these variables are considered in strategic financial decision-making.

Sustainable leadership among financial managers in Spain: A gender issue

Finance plays a key role in supporting sustainable companies, thereby contributing, and supporting the transition towards a low carbon and circular economy. At the strategic level, finance can aid companies make decisions regarding the trade-offs between their sustainable goals. Therefore, key players in this respect are finance managers who need to take decisions regarding the latter. This study analyzed the level of sustainable leadership among financial managers in Spain. A total of 131 senior financial managers (106 men and 25 women), from various sectors in Spanish companies (a multi-sector study), responded to two scales: the Honeybee Sustainable Leadership Scale (focusing on stakeholder orientation and a vision of social and shared leadership) and the Locust Leadership Scale (primarily centered on achieving short-term profits at any cost). A descriptive analysis of the sample was conducted. The t-test was applied for comparing means and the Mann-Whitney U test statistical technique was used under conditions where the assumptions of normality and homogeneity of variance were violated. In the hypothesis testing, a significance level of p<0.05 was employed. The main finding was that female financial managers scored significantly higher on the Honeybee Leadership Scale compared to their male counterparts, signifying that female presence is key to sustainable leadership. Therefore, including women in higher corporate-level positions would contribute to a more sustainable approach in management. Furthermore, it was also found that the organizations in which the financial managers worked tended to undertake a hybrid approach to sustainable leadership. Most companies undertook a hybrid perspective incorporating elements of both diametrically opposed bee and locust leadership philosophies.

DETERMINANTS OF TAX AVOIDANCE IN INDONESIAN TECHNOLOGY LISTED COMPANIES

This study examines the effect of Profitability (Return On Sales and net Profit Margin), Sales Growth and Business Strategy on Tax Avoidance practices and Financial Distress as moderators suspected of influencing corporate tax avoidance practices. The quantitative method used in this study, multiple linear regression, is the right choice for conducting further analysis, with a range of observations of financial reports on technology companies listed on the Indonesia Stock Exchange (IDX) during 2019-2023, with a purposive sampling technique to ensure obtaining information related to the measurement indicators used, in 15 qualified companies, using IBM SPSS Statistics 26.0. The study concluded that Return On Sales, Net Profit Margin, and Business Strategy influenced Tax Avoidance practices. In contrast, the Sales Growth variable did not influence Tax Avoidance, and Financial Distress only moderated the effect of ROS on Tax Avoidance. In practice, not all management strategies to increase sales absorb too high costs, so financial managers do not choose to practice tax avoidance. The implications of this study are expected to provide an overview to users of financial reports, especially external parties, to assess the firm's performance in complying with its tax obligations based on the factors in this study.

Investigating the role of Fintech innovations and green finance toward sustainable economic development: a bibliometric analysis

PurposeThe purpose of this study is to present a bibliometric and network analysis that uses the Scopus and Dimension databases to provide new insights into the progression toward the study of sustainable economic development.Design/methodology/approachThis analysis has been drawn on 665 papers published between 2015 and 2023. Bibliometric analysis characterizes a research topic by identifying leading nations, the most significant authors and expressive publications. Network analysis revealed keyword evolution over time, co-citation patterns and study grouping. Content analysis was used to identify major topic in the discipline, with a focus on their interrelationships. Each publication in the data set is briefly described, along with its methodological approach.FindingsThe results of this study show that green finance plays a major role in long-term economic growth, having a significant influence on the preservation of environmental quality, economic efficacy and a more comprehensive economic system. Financial technology also accelerates the transition to a carbon-neutral economy by enhancing the beneficial effects of green finance on aspects of the economic system and environmental conservation.Research limitations/implicationsThe investigation is based only on Scopus and Dimensions-indexed journal articles. However, additional studies should incorporate publications from other reputable databases, such as Web of Science, PubMed and Science Direct, for the bibliometric analysis, so that the findings of the model analysis become more reliable and valid with examination of more documents. The visualization of similarity viewer was used for data analysis in the study, there is a scope for using other tools such as Biblioshiney and CitNet Explorer.Practical implicationsTo support long-term economic growth, authorities should encourage Fintech companies to actively participate in various green finance initiatives and environmental conservation businesses. Financial managers should facilitate the integration of technology and green finance for financial services. It is important to encourage institutional and individual investors alike to look into more environmentally friendly ways to invest and save money. Policymakers should provide a platform for global awareness and government agencies should enhance their recommendations to state governments to increase the efficacy of green finance.Originality/valueThis study contributes to the literature by investigating the relationship between Fintech and green financing. This study holds significance for financial intermediaries, industrialists, investors and policymakers by providing insights into the integration of Fintech with green finance for sustainable development. These findings affirm the pivotal role of Fintech and green finance in fostering sustainable economic development. The novelty of the topic and the variety of publications in which it has been published demonstrate that sustainable economic development has piqued the interest of a wide range of areas.

Effect of Artificial Intelligence (AI) on Financial Decision-Making: Mediating Role of Financial Technologies (Fin-Tech)

The main objective of the current study is to shed light on the mediating effect of financial technology (Fin-Tech) on the relationship between artificial intelligence (encompassing natural language processing (NLP), machine learning algorithms, computer vision, predictive analytics, robotic process automation (RPA), blockchain technology, and deep learning) and financial decision-making from the perspective of financial managers within Jordan's commercial banking sector. Realizing this objective required the use of quantitative methodology. A questionnaire was self-administered by 86 financial managers in the Jordanian banking sector. Primary data was analyzed using AMOS. Results of analysis confirmed that FinTech plays a significant mediating role between AI applications and financial decision-making. Machine learning was identified as the most impactful AI technique, facilitating more informed decisions through advanced data analysis and pattern recognition beyond the scope of traditional analysis methods. The novelty of current research is in the fact that it offers valuable insights into the intersection of AI and Fin-Tech within the Jordanian financial sector. It contributes to the understanding of how advanced AI techniques can enhance financial decision-making, emphasizing the importance of multidisciplinary expertise in the development of AI-driven financial systems. The findings have significant implications for both theoretical understanding and practical application in the finance industry. Doi: 10.28991/HIJ-2024-05-03-015 Full Text: PDF

The Flint Water Crisis and the Perpetuation of Environmental Racism in Flint, Michigan (2014–2018)

The nexus between environmental racism and racial capitalism has been well documented. However, the government is often blamed for the perpetuation of some forms of environmental racism. Nonetheless, blaming the government for environmental racism without documenting some actions and policy implementation by the government to mitigate or prevent the re-occurrence of environmental racism tends to be a one-sided view. Consequently, this study examines how the American government plays some roles in the occurrence of environmental racism, that is, the Flint Water Crisis (FWC) in Michigan. Racial capitalism theory is used as a theoretical lens in this study. Racial capitalism, historical residential housing policies, anti-blackness or devaluation of Black bodies, the appointment of Emergency Financial Managers, environmental racism, neoliberalism, laissez-faire, and color-blind racism were the mechanisms driving the occurrence of the FWC. The different actions and policies that were taken by the American government to mitigate or prevent the re-emergence of FWC were also documented. Although, these actions were taken after the occurrence of the FWC. The materials-based method (secondary data) was not only adopted to provide answers to the research question that this study answered but was also used to explain the global dynamic and operation of racial capitalism.

코어뱅킹(Core Banking)산업의 진화와 미래: 뱅크웨어글로벌의 사례를 중심으로

The study examines the Korean core banking industry's growth from Bankware Global to the present and its future problems. To this end, in-depth interviews with insiders and various data are analyzed to view the historical development of core banking, focusing on Bankware Global, a leader in 'cloud-based core banking', and its competition and strategic direction. This study will reveal the strategic importance of shifting core banking to the cloud and its consequences for bank and financial institution managers. Bankware Global was founded as banks and financial firms moved their computing infrastructure to the cloud from the fourth to the fifth generation. Based on a cloud-based core system, Bankware Global's core banking solution can easily assemble and grow financial goods and business operations including banks, cards, and capital. Bankware Global's flagship products support the most technologies compared to competitors, and its customized development method gives it a competitive advantage in quality, price, and time saved by more than 30%. These features should help Bankware Global maintain its lead in the limitless financial software market, which has no borders or large and small scale.

Analysis of the Effect of Education Fund Budget on Performance Accountability and Transparency in School Fund Management (Cirebon City)

This research aims to analyze the influence of the education budget on performance accountability and transparency in fund management in Cirebon City schools. Using a quantitative approach, this study examines the relationship between education budget allocation and two important aspects in school management, performance accountability and transparency of fund management. Data was collected from school financial reports and surveys conducted among schools and financial managers in schools in Cirebon City. The results of the analysis show that, with a data sample of 14, with 25 total respondents, there is a significant positive correlation between the education budget and performance accountability (r = 1) and transparency of fund management (r = 0.982). These findings confirm that efficient allocation and use of the education budget not only increases accountability for school performance but also strengthens transparency in fund management. Survey responses, which range from 0 (disagree) to 1 (agree) on a rating scale, indicate positive perceptions of existing financial management practices. This study provides empirical evidence about the importance of good education budget management as a tool for improving the quality of education, especially in Cirebon city schools.

Capital Structure and Performance of Small and Medium Enterprises: Empirical Evidence from Tanzania

This research delves into the effects of capital structure on the performance of small- and medium-sized enterprises (SMEs) in Tanzania. The research is predicated on 276 SMEs in Tanzania. Panel data including 828 observations for the years 2017–2019 were used. To evaluate the models, an ordinary least-squares test was employed. Return on capital employed (ROCE), return on equity (ROE) and return on assets (ROA) were employed to measure the SMEs’ performance. The findings reveal that total debt, short- and long-term debts have a negative effect on ROCE, ROE and ROA. Generally, the results uphold the Pecking Order Theory, which postulates a negative correlation between debt and firm performance. The results imply that firms with large debt levels have lower performance. This study recommends that SMEs’ financial managers should choose their capital structure carefully by avoiding excessive debt, in order to increase the firm’s overall worth, thereby maximizing firms’ performance. The investigation adds to earlier research by giving another point of view in Tanzania through analysing SMEs’ capital structure and performance by utilizing manufacturing sectors in their entirety while employing a panel data analysis.

The influence of digital disclosure language adoption on decrease financial information asymmetry and increase its quality

Purpose The main purpose of this study is to determine the antecedent factors of digital financial disclosure language adoption and its impact on decreasing financial information asymmetry and increasing its quality. Design/methodology/approach The data was obtained from 116 financial managers, who are working and responsible for preparing and filing financial statements reports in listed Jordanian firms in the Amman Stock Exchange. The partial least squares structural equation modeling approach is used for data analysis. Findings The empirical results revealed that the adoption of digital financial reporting is positively influenced by perceived usefulness and perceived ease of use. Besides, the outcomes also confirm that the adoption of digital financial reporting positively influences accounting information quality, and hence hypotheses H1, H2 and H3 were accepted. Originality/value This study varies from previous studies because it is considered among the first empirical studies that determine the antecedent factors of digital financial reporting adoption and its impact on improving accounting information quality and sustainability in an empirical setting from a developing country perspective such as Jordan.

Does aural accounting improve the stakeholder relationship capability?

PurposeThe aim of this study is to examine the effect of aural accounting (AA) on companies’ stakeholder relationship capability in the Iranian capital market.Design/methodology/approachIn terms of methodology, this study adopts a mixed approach based on both inductive and deductive foundations. The goal is to develop a comprehensive theoretical framework regarding the feasibility and practical implementation of AA and to assess its impact on the ability to interact with stakeholders. In this research, the components of AA were identified through a meta-synthesis process. Subsequently, data on these variables were collected using a researcher-made questionnaire. Additionally, a standard questionnaire was used to measure the stakeholders' interaction capability. The study used partial least squares structural equation modeling for hypothesis testing. A total of 412 participants, consisting of financial managers and heads of accounting departments of capital market companies, were involved in hypothesis testing.FindingsThe results of this study indicate that AA has a significant and positive impact on companies’ stakeholder relationship capabilities. In other words, AA establishes a bidirectional flow of information, enabling companies to demonstrate a more appropriate response to the changing needs of their stakeholders.Originality/valueTo the best of the authors’ knowledge, this study represents the first research to present a framework for AA and examine its impact on companies' interaction capabilities with stakeholders. Consequently, the findings not only contribute to the expansion of theoretical literature in accounting and financial reporting but also provide multiple practical implications for capital market policymakers and standard setters regarding the potential consequences of AA.

Work Engagement as A Function of Pyschological Empowerment, Self- Efficacy and Job Satisfaction among Financial Managers: A Structural Equation Modelling Approach

Work Engagement as A Function of Pyschological Empowerment, Self- Efficacy and Job Satisfaction among Financial Managers: A Structural Equation Modelling Approach

Model based on Machine Learning for the classification of banking transactions carried out through PSE

The financial sector, and specifically banking entities, have experienced changes in recent years thanks to technology, such as the digitization of transactions and the creation of applications such as digital wallets and PFM (Personal Finance Manager), generating gigabytes of information. Managing knowledge becomes essential to face new competitors, provide better services, understand the financial behavior of clients and face great challenges when processing and analyzing the volume of information available, which in most cases requires a complex preprocessing process and data quality. This is the case of banking transactions, which include free text information in their observation fields, making analysis and classification difficult, preventing the bank and its clients from analyzing financial behavior over a period of time. To solve this problem, the use of Machine Learning techniques was proposed to automate the transaction classification process based on text written in natural language, and provide the information that allows an analysis of the financial behavior and personal expenses of each user. Once the training, evaluation and comparison of different models was completed, using the CRISP-DM methodology as a development framework, an optimized solution was reached that solves the classification problem using the KNN algorithm, with an accuracy close to 96%. The results showed a high level of confidence when classifying a transaction, based on a description, into a category.

Factors Affecting The Financial Performance of State-Owned Enterprise Companies Listed on the IDX

This study aims to identify variables that affect the performance of banking companies listed on the IDX. The addition of the Ownership Composition variable as an independent variable is a novel part of this research. This research method involves collecting data from 22 banking companies over a five year period (2018–2022), and applying data processing analysis using panel data regression analysis techniques. The research results found that the capital adequacy ratio had an effect on Bank Performance. Likewise with the variables Non-performing loans, Liquidity Ratio, Bank Size, Market power, Gross Domestic Product, Inflation rate, and Ownership Composition which influence the performance of banking companies. The implication for financial managers is to choose the best way to utilize assets to achieve business goals, especially to improve shareholder welfare. This research emphasizes how important company performance is for investors when choosing investment opportunities in banking companies.

Strategi Komunikasi dalam Mengatasi Konflik Internal di Perguruan Tinggi XYZ (Studi kasus: Antara Departemen Komunikasi Pemasaran dengan Departemen Keuangan)

XYZ College experienced conflict issues at the time of closing new student admissions (PMB) for the 2023-2024 period. This was triggered by the injury time promotion which was carried out during the final seconds of the closing of PMB for the 2023 - 2024 period. This research aims to analyze the communication strategies used in resolving internal conflicts at XYZ High School. Through this research, it is hoped that effective communication strategies can be found to resolve conflicts in this organization. This research can also provide insight and recommendations for XYZ universities and similar organizations in handling conflict effectively. This research uses a qualitative method, a descriptive narrative approach with 2 informants, namely the marketing communications manager and the financial manager of XYZ College. Based on the research results obtained regarding Communication Strategies in Overcoming Internal Conflict at XYZ Higher Education, namely by implementing the three important steps needed to develop a communication strategy according to Anwar Arifin.