Financial Performance Of Enterprises Research Articles

The impact of CEO's green experience on digital transformation

According to resource orchestration theory, key human capital can allocate resources to the critical paths of projects to maximize resource utilization efficiency. This study examines how the green experience acts as an important organization capital and affects a company's digital and green transformation processes. Based on the organization capital theory, we study the performance of China's A-share listed companies from 2013 to 2021. A CEO's green experience inhibits a company's digital transformation while promoting its green transformation. Based on organizational theory, our conclusion is consistent with signal and information asymmetry theories. Executives with green experience have a better understanding of ways to improve the credibility of the public's green environmental practices. This agency cost often has a negative impact on the financial performance of enterprises, which is not conducive to their digital transformation. Companies should carefully recruit executives with green experiences, based on future digital or sustainable development strategies, to maximize the organization capital.

Research on the Relationship Between Enterprise Green Transformation and Financial Performance Under the Background of "Double-Carbon"

Under the background of "double carbon", green development has become an important direction of manufacturing enterprises. Taking Company A as an example, this paper analyzes the strategic measures of each stage of the green transformation of enterprises, in order to study the impact of the green transformation on the financial performance of enterprises. The results show that: (1) the green transformation of enterprises can be divided into traditional development period, green transformation period and green development period, and different in different stages.(2) Enterprises can effectively improve their profitability and operating ability through green transformation, but the financial performance caused by the transformation lags behind; (3) merger and acquisition and innovation are the main ways for enterprises to achieve rapid green growth quickly. Based on the characteristics of the three stages of green transformation, enterprises should timely pay attention to the adaptation of their own development strategy and the macro environment, and actively seek for green transformation.

Cashflow Management Practices and Financial Performance of Small and Medium Business Enterprises in Kenya

This comprehensive review examines cash management and its impact on the financial performance of Small and Medium Enterprises (SMEs). The review covers theories, practices, and empirical evidence, providing insights into financial management strategies. Theoretical perspectives include the Dynamic Trade-Off Theory and the Free Cash Flow Theory, which shed light on the implications for SMEs' financial management strategies. Empirical evidence underscores the importance of cash accountability, internal controls, cash policy, cash budgeting, and financial performance metrics like profitability, liquidity, and solvency. Effective cash management is crucial for SMEs as it enables growth, optimizes investments, enhances profitability, and ensures financial stability. This synthesis offers valuable insights for policymakers, practitioners, and academics seeking to understand and enhance SMEs' financial performance through sound cash management practices.

Research on the Influence of Strategic Adjustment on Enterprise Performance from The Perspective of Mixed Reform of State-owned Enterprises

In order to effectively solve the problems of low operation efficiency and rigid management system of state-owned enterprises, governments at all levels have actively implemented and practiced mixed ownership reform since 2016, trying to promote industrial optimization and upgrading through mixed reform and stimulate the internal development potential of state-owned enterprises. With the continuous development of the economy and society, the state adopted the three-year Action Plan for SoE Reform (2020-2022) in June 2020, giving guiding opinions and new requirements for further deepening the reform of soes. In this context, to help has not yet been mixed change of state-owned enterprises to better understand the concrete implementation process, Shanxi Fen Wine, for example, starting from the mixed change for, the enterprise mixed change in-depth after expanding brand depth, integrated marketing resources, strengthen scientific research innovation, innovation product strategy, optimize the governance structure of five strategic adjustment direction, and the strategic adjustment of influence on enterprise performance. Finally, it draws enlightenment from the three aspects of path selection of mixed reform, advantage utilization of mixed reform and control of strategic direction, which provides reference for the strategic adjustment of mixed reform of state-owned enterprises in the industry. The research found that Shanxi Fen Wine combined with the advantages of mixed reform and made strategic adjustments around the five aspects of brand, marketing, scientific research, product and governance, which had a positive and positive impact on the financial performance of enterprises.

Research on the Evaluation of Financial Performance of Supor Based on EVA Perspective

After the introduction of EVA into China, SASAC found that EVA is very effective in the evaluation of enterprise financial performance, so it began to implement the EVA financial performance evaluation method to domestic enterprises. Among the enterprises adopting EVA for financial performance evaluation, central enterprises account for a relatively large proportion, while most other enterprises still use traditional financial indicators for financial performance evaluation. As the traditional method no longer meets the requirements of social development, the problems of adopting the traditional financial performance evaluation method gradually appear, so enterprises need to change the financial performance evaluation method. The use of EVA can effectively evaluate the financial performance of enterprises, and lay a good foundation for improving the financial performance of enterprises. The home appliance industry is closely related to people's lives, Supor as a small home appliance in the leader, the use of traditional financial analysis has certain limitations, a large number of use of simple financial data and excessive reliance on the evaluation indicators, the analysis process is too simple to meet the needs of the decision-making process, so the introduction of the EVA method of financial performance evaluation is particularly important. This paper takes Supor as the research object, analyses Supor's financial performance according to traditional financial indicators, and finds that the results obtained from traditional financial performance evaluation are not accurate enough, so it calculates the value of each index of EVA, and compares and analyses the EVA and traditional financial indicators, and discovers the problems of Supor and puts forward suggestions for improvement.

Enhanced group decision-making framework for financial performance evaluation of high-tech enterprises under interval neutrosophic environment

The financial performance of enterprises has always been the key to their survival and development, especially for high-tech enterprises. Evaluating the financial performance of high-tech enterprises is beneficial for the management department to accurately understand the financial situation of the enterprise, timely identify financial problems, and study solutions based on this; On the other hand, the scientific evaluation of enterprise performance also provides useful assistance for other stakeholders such as the government, creditors, and enterprise employees to exercise their rights. With the development of the times and the progress of society, high-tech enterprises have developed rapidly. Studying the financial performance of high-tech enterprises has important theoretical and practical significance. The financial performance evaluation of high-tech enterprises is a classical MAGDM problems. Recently, the TODIM (TODIM) and (grey relational analysis) GRA technique has been employed to cope with MAGDM issues. The interval neutrosophic sets (INSs) are employed as a tool for characterizing uncertain information during the financial performance evaluation of high-tech enterprises. In this manuscript, the interval neutrosophic number TODIM-GRA (INN-TODIM-GRA) technique is implemented to solve the MAGDM under INSs. In the end, a numerical case study for financial performance evaluation of high-tech enterprises is employed to validate the proposed technique.

The impact of the enterprise financial risk management function on financial performance in Bosnia and Herzegovina

Abstract Adequate enterprise financial risk management (EFRM) represents a leading competitive advantage of enterprises that determines market survival and business success in an uncertain global environment. Over time, EFRM has become a constituent part of integral business dealings of enterprises and one of the strategic functions of enterprise management. The main purpose of the paper is to explore the effects of the EFRM function/system on the financial performance of enterprises in Bosnia and Herzegovina (BiH). The basic source of data in the research was collected by means of a structured questionnaire. The target population in the research consists of large enterprises that have continuously operated in the territory of BiH (2013-2017). The selection of enterprises was made applying a random sampling method and contains 72 enterprises. Appropriate descriptive and inferential statistical methods were used in the data analysis and panel data analysis was used to assess effects of EFRM function on financial performance. The scientific contribution of the paper is reflected in the fact that the research is pioneering for Bosnia and Herzegovina with the analysis of effects of the EFRM function on enterprise financial performance (EFP). The results show that there are no systematic, statistically significant differences between large enterprises that engage in risk management (‘hedgers’) and enterprises that do not engage in risk management (‘non-hedgers’) in BiH.

The Express Delivery Company Goes Public Through a Backdoor Listing based on the Backdoor Listing of Dingtai New Material by SF Express

In China, enterprises face relatively huge costs in going public, resulting in enterprises preferring indirect listing methods such as backdoor listing to Initial Public Offerings (IPO). At the same time, backdoor listing has also saved many traditional industries with declining performance, making both parties win-win. At present, the logistics industry is developing rapidly. In 2016, logistics companies have been backdoor listing, logistics industry competition is becoming increasingly fierce, and more and more logistics enterprises choose to go public in order to enhance competitiveness and improve the status of the industry. Choosing the right timing and backdoor listing with a precise strategy will produce no less wealth than an IPO. This paper takes SF Express' backdoor listing of Dingtai New Material as a case, conducts performance analysis based on a theoretical basis, studies the impact of backdoor listing on the financial performance of enterprises, and provides experience for other logistics enterprises planning to adopt backdoor listing.

Exploring the Relationship Between Non-Financial Information and Corporate Financial Performance: Evidence from Chinese Listed Companies

With the increasing impact of climate change and resource depletion, society is confronted with significant environmental and social challenges, which have made sustainable development a focal point for the entire community. ESG, as a vital metric for measuring a companys sustainable development capabilities. The development of ESG evaluation system can promote enterprises to pay more attention to ESG, thus contributing to the sustainable development of society and environment. Furthermore, the development of ESG practices has the potential to positively influence a companys financial performance, thereby serving as a driving force for economic advancement. A sample of 342 listed companies is analyzed using descriptive statistics and OLS regression analysis. The results show that ESG performance has no significant impact on the financial performance of enterprises, and it can neither help enterprises obtain more profits nor make enterprises bear more financial pressure. Based on these findings, the paper suggests the following recommendations: (1) Enhance the management and integration of ESG evaluation systems. (2) Foster increased societal attention towards the ESG performance of companies.

ЭКОНОМИЧЕСКИЕ ВЫГОДЫ ВНЕДРЕНИЯ РОБОТИЗИРОВАННЫХ СИСТЕМ В ПРОИЗВОДСТВО

The introduction of robotic systems into production processes represents a significant prospect for improving the efficiency and competitiveness of enterprises. Despite high input costs, the use of robotics in production is usually accompanied by a number of economic advantages. This article discusses the main economic benefits of introducing robotic systems into production and their impact on business processes and financial performance of enterprises.

Effect of Development Finance Lending on Financial Performance of Small and Medium Enterprises in Sri Lanka

The purpose of this study is to identify the relationship between development finance lending on the financial performance of SMEs and determine what components of development finance credit have the most impact on the growth of SMEs. The study was adopted with a target sample of 120 registered SMEs within the ABC Bank PLC, Sri Lanka. Secondary data was collected for the study using internal documents from the SME section in ABC Bank PLC and annual reports. SME financial performance has been considered as the dependent variable, whereas development finance credit amount, development finance loan period, initial credit amount, and collateral requirement have been considered as independent variables. Data was analysed using descriptive statistics, correction and multiple regression approach. Findings revealed that development finance credit positively influences the financial performance of SMEs through the amount of credit provided, the initial credit amount, the collateral requirement, and the loan period granted by the bank, which affects the financial performance negatively based on the analysis. The study also found that all SMEs borrow credit to increase their financial performance. The study concludes that return improved with each consecutive loan, showing that microfinance facilities enhance the financial performance of SMEs in Sri Lanka with the evidence from ABC Bank PLC. The regression results propose that development finance credit gives more to the financial performance of SMEs and thus higher return.

Економічна ефективність переходу до органічних добрив за допомогою сучасних технологій

This topic is devoted to the study of the economic advantages that arise when switching to the use of organic fertilizers, with the help of modern technologies in their production and application in agriculture. Emphasis is placed on the analysis of the impact of the latest technologies on the economy in the context of the agricultural sector. The article examines not only the process of production of organic fertilizers, but also its impact on the financial performance of enterprises, selection results and the quality of agricultural products. Attention is also drawn to how modern technologies help reduce production costs, while increasing the efficiency of resource use. The study of this topic can contribute to the understanding and determination of the strategic importance of the implementation of technologies in the field of organic fertilizers to achieve economic sustainability, ensure food security and reduce the negative impact on the environment. Organic agricultural production in Ukraine is only at the initial stage of development and faces problems, despite the great potential of opportunities. The problem of formation arises from the fact that the organic sector can be very promising thanks to the fertile black earth grounds and sustainable traditions of agricultural production. Organic producers must compete with conventional producers to strengthen their position in the organic sector, defend their views on the future of agriculture and ensure that it is implemented at a legal level. Over time, organic companies can become preferred suppliers and establish long-term business relationships that provide security. Therefore, the world market of organic products is developing rapidly. Ukraine has only taken the first steps in the formation and formation of the market for organic products, which is already quite developed in other countries (especially in the EU). For this reason, the market for organic products has many advantages, such as environmental, economic, and social advantages inherent in this field of activity, and therefore the development of this market is of great importance today. Keywords: organic fertilizer, agricultural market, technologies, products, agricultural technologies, production, agricultural crops, economic efficiency.

Impact of China's National Centralized Drug Procurement Policy on pharmaceutical enterprises' financial performance: a quasi-natural experimental study.

In China, the interest relationship between pharmaceutical enterprises and medical institutions has harmed the healthy development of pharmaceutical enterprises. In November 2018, the National Centralized Drug Procurement (NCDP) policy was published. The NCDP policy severs the interest relationship and significantly impacts on pharmaceutical enterprises's financial performance. Using the implementation of China's National Centralized Drug Procurement (NCDP) policy as a quasi-natural experiment, this study evaluated the impact of participation in the NCDP policy on pharmaceutical enterprises' financial performance. We developed a difference-in-difference model to estimate the change in financial performance after NCDP implementation, based on financial data on Chinese listed pharmaceutical enterprises. We found that the bid-winning enterprises' financial performance significantly improved after participating in NCDP. This may be related to lower costs, market share expansion, and increased research and development investment by the bid-winning enterprises. To further promote the high-quality development of pharmaceutical enterprises in China, the government should expand the variety of drugs on the NCDP list (NCDP drugs), while improving the drug patent protection system and the policies to support the bid-winning enterprises.

Optimization of Enterprise Financial Performance Evaluation System Based on AHP and LSTM Against the Background of Carbon Neutrality

This study focuses on meticulously examining energy companies' financial performance, incorporating the principles of environmentally sustainable development. The study employs a comprehensive assessment approach that integrates various metrics from different departments of these enterprises. These abstract indicators are primarily quantified using the analytic hierarchy process (AHP), emphasizing incorporating low-carbon indicators, such as research and development (R&D) in renewable energy, into the evaluation framework. Subsequently, the study utilizes the long short-term memory (LSTM) model to evaluate the performance of individual departments within these companies. Ultimately, the study provides an overarching evaluation of the financial performance of energy enterprises. The proposed model demonstrates its effectiveness in practical testing, achieving an evaluation error of just 1.7%. Moreover, the research also scrutinizes the implications of these financial evaluation results for the transition toward a low-carbon paradigm.

Can digital transformation improve the quality of enterprise innovation in China?

PurposeDigital transformation and innovation-driven development have become an international consensus. The purpose of this paper is to examine the effects of relationships, mechanisms and economic consequences between digital transformation and enterprise innovation quality in order to provide a benchmark for developing countries to implement digital transformation strategies and innovation-driven strategies and provide a major support for economic recovery in the post-coronavirus disease 2019 (COVID-19) era.Design/methodology/approachUsing microdata from A-share listed enterprises in Shanghai and Shenzhen from 2010 to 2021, this study examines the relationship between digital transformation and enterprise innovation quality and further reveals the internal logic and economic consequences of digital transformation to improve enterprise innovation quality through the mediating effect and moderating effect models.FindingsThe results demonstrate that digital transformation is beneficial for improving enterprise innovation quality. The heterogeneity test demonstrates that digital transformation has a larger effect on improving enterprise innovation quality in non-state-owned enterprises and eastern enterprises in China. The mechanism test demonstrates that digital transformation can improve enterprise innovation quality by improving internal control quality and analyst attention. Furthermore, with the increase in enterprise innovation inputs, digital transformation plays a significantly stronger role in improving enterprise innovation quality. The extended analysis demonstrates that digital transformation can significantly improve enterprise financial performance by improving innovation quality.Research limitations/implicationsFirst, the construction of the core explanatory variable digital transformation index in this study is based on the Python data analysis software, which calculates the frequency of digital transformation in the text of the business situation analysis portion of the annual report of the listed companies and then obtains the degree of digital transformation of the company in this year. There may be some deviation from the degree of digital transformation in the actual production and operation of enterprises. Second, in addition to internal control quality and analyst attention, are there other mediating mechanisms for the impact of digital transformation on the quality of enterprise innovation? Third, whether the moderating effect of innovation input on digital transformation and innovation quality is related to human capital factors of the research and development (R&D) team, such as the technical background of R&D personnel, etc.Originality/valueThis study enriches the relevant theories of digital transformation and broadens the research boundaries of digital transformation and enterprise innovation. This study's result provides an empirical basis for enterprises to improve enterprise innovation quality and financial performance from the perspective of digital transformation at the micro level and points out specific practical directions, combining theory with practice.

Retracted: Intuitionistic Fuzzy Dombi Hybrid Decision-Making Method and Their Applications to Enterprise Financial Performance Evaluation

Retracted: Intuitionistic Fuzzy Dombi Hybrid Decision-Making Method and Their Applications to Enterprise Financial Performance Evaluation

R&D Investment, Executive Incentive, and Financial Performance in GEM: Based on Three-Stage Least Squares Method

China’s GEM (Growth Enterprise Market, also named as ChiNext stock market) enterprises are mainly small and medium-sized enterprises in the start-up stage, which have high-speed growth. This work uses three-stage least squares (3SLS) based on combines system equation to study the impact of technological innovation investment, executive incentive, and enterprise financial performance. The results show that in China’s GEM enterprises, R&D in the current period positively affects financial performance in 1% significance level. R&D of the lag period has a significant negative impact on the financial performance of the current period. Conversely, the financial performance of the current period has a significant negative impact on R&D. While both salary incentive and equity incentive will improve financial performance, executives seem to value short-term interests MORE. Executive equity incentive has a significant negative moderating effect ownership due to ownership structure in GEM is needed to strengthen the control right. This work proposes a new research horizon in GEM in China, and can help the GEM design an effective management mechanism to improve the financial performance of the enterprise.

The relieving effect of innovation in enterprise financial performance management model on employee anxiety disorders

BackgroundWith the complexity of enterprises’ operating environment, employees face increasing work pressure and task requirements, which may increase anxiety symptoms. Effective financial performance management can improve enterprises’ economic benefits and create a more stable and positive work atmosphere for employees. This study explores the effectiveness of innovative financial performance management models in alleviating employee anxiety.Subjects and MethodsFive companies were selected for innovative financial performance management models, with 1,200 employees participating in the study. The study subjects were evaluated using the Self-Rating Anxiety Scale (SAS) and Hamilton Anxiety Scale (HAMA). The experiment lasts one year and tracks, studies, and evaluates employees’ anxiety symptoms and job satisfaction.Results Through the innovation of the financial performance management model, 75% of employees stated that their work pressure was significantly alleviated. At the same time, employee job satisfaction increased by 23%. In the mental health assessment, anxiety symptoms among employees who experienced innovative management models decreased by 18% compared to before the reform.ConclusionsThe innovation of enterprise financial performance management mode not only promotes the economic benefits of the enterprise but also effectively alleviates employees’ anxiety symptoms and improves their job satisfaction. To ensure the sustained and healthy development of enterprises and the psychological health of employees, it is recommended that more enterprises consider innovating and optimizing their financial performance management models.

Research on the Impacts of Corporate Sustainability Reporting Disclosure of Chinese Food Enterprises on Financial Performance

"With the proposal and continuous updating of sustainable development concept in China, actively assuming social responsibility by enterprises has become a direct manifestation of the progress of the times. While operating and developing, food enterprises should not only focus on their own profits, but also fulfill their social responsibilities. The article analyzes the causes of food safety issues that have emerged in the Chinese food industry, and proposes to focus on improving the skills and qualities of enterprise employees, constructing a policy system for food safety supervision and management, in order to provide beneficial insights for promoting sustainable development of enterprises. At the same time, using a combination of theoretical and empirical analysis methods, this study explores the impact of sustainable development responsibilities on financial performance of enterprises, providing strong support for enterprises to actively disclosure their Corporate Sustainability Reporting, and promoting listed companies in the food industry to attach importance to future sustainable development."

Relationship between Portfolio Diversification and Financial Performance of Large Enterprises in Kisumu County, Kenya

This study intended to explore the relationship between portfolio diversification and the financial performance of large businesses in Kisumu County, Kenya. The research questions of the study were; what is the relationship between stock and bond and the financial performance of large enterprises in Kisumu County, Kenya? The study was anchored on Modern Portfolio. A descriptive survey research design was adopted for the study. The statistical procedures of Yamane (1973) were subsequently employed to acquire a sample size of 225 out of a population of 1283 large enterprises; a random sampling procedure was adopted to facilitate the process. The research instrument was a document analysis guide. The study adopted both descriptive and inferential statistics for data analysis. Descriptive statistics involves the use of frequency, mean and standard deviation. The relationship between portfolio diversification and the financial performance of major enterprises in Kisumu County was explored using Pearson’s correlation and regression analysis. Data were presented using tables and figures. The researcher utilised regression analysis to specifically evaluate the null hypothesis. The results indicated that stock investment was positively related to financial performance. (β= 0.172, p- value=0.025< 0.05) of large enterprises in Kisumu County. Moreover, the findings corroborated the existence of a causal link between bond investment and financial performance (β= 3.2, p-value=0.001 < 0.05 of large enterprises in Kisumu County. Financial performance was found to benefit greatly from portfolio diversification (β= 4.875, p-value=0.023 < 0.05) of large enterprises. Furthermore, portfolio diversity accounts for 72.1% of the variance in financial performance across major businesses. The study recommends that business owners and managers diversify their investment portfolios across asset classes to mitigate risks and capitalise on opportunities in a variety of market conditions. This study recommends further investigation of the obstacles large enterprises face when diversifying their portfolios.