Financial Aspects Research Articles

Gestaltung eines wertstromübergreifenden Performance-Management-Systems

Abstract KPI systems for evaluating and improving industrial processes are often used ineffectively in production companies, mostly due to arbitrarily selected KPIs and an overemphasis on financial aspects. Existing performance management approaches only describe basic elements and offer few practical recommendations. Implementation is usually only carried out by upper and middle management and neglects integration into production. This article presents a methodology that derives KPIs from corporate objectives in order to identify precise deviations and support data-driven analyses. The method is illustrated by evaluating the example of a process-accurate recording of throughput time.

Analisis Kinerja Bisnis Jasa Carbon Dan Painting Carbon Plus Di Kota Palembang

Carbon Plus is an automotive business specializing in Carbon Kevlar products, which are made from carbon kevlar fibers and can be used as coatings for vehicle parts, both for cars and motorcycles, as well as other components. The business offers three services: carbon skinning, carbon repairing, and painting. Located at Sakura I Street, Palembang, Carbon Plus plans to promote its services through Instagram and ads on social media.. The performance analysis of the Carbon Kevlar business is conducted by considering financial, operational, market, risk, innovation, and sustainability aspects to evaluate the efficiency, profitability, and social and environmental impact of Carbon Kevlar production and marketing activities. The main focus is on increasing revenue, production efficiency, market dominance, risk management, product innovation, and corporate social responsibility.

QUANTITATIVE APPRAISAL AND SCIENTOMETRIC EXPLORATION INTO THE DIGITIZATION OF EDUCATION

In the current conditions, the digitalization of education in almost all countries of the world has become a vital strategy for the total restructuring of traditional forms, tools, methods and technologies of education. At the same time, the issue of financial literacy is one of the priorities in education since the level of social welfare and the level of economic development of the country depend on the level of financial literacy. The article is devoted to a thorough scientometric review of scientific publications on the digitalization of financial education, highlighting key ideas, trends in developing scientific views, prospects, and opportunities for further research. The bibliometric analysis was carried out using specialized methods and tools, in particular, in-built Scopus and WoS databases tools, VosViewer software, and the Google Trends web application. Publications were extracted from the two scientometric databases, Scopus and WoS, in the time interval from 1990 to February 2024. A dynamic analysis of research articles showed their intensive growth since 2020, which is due to increased attention to digital education in the context of global transformations, the COVID-19 pandemic, and military conflicts. A transnational representation of the research was identified, with key geographic centres in the United States, the United Kingdom, and China. A country-by-country analysis confirmed the connection between researchers due to similarities in educational strategies and geographical proximity. Using the results of the constructed bibliometric map, the thematic analysis identified 4 key clusters that confirm the central role of digitalization in financial education. Within the clusters, thematic groups of scientific publications were identified (innovations in education and digital technologies, socio-economic challenges in education, leadership and competitive advantages in education, financial and economic aspects of education, etc. The analysis identified promising research areas, including strategies to improve access to educational resources during crises, studying the impact of Industry 5.0 on financial education, studying financial innovations in education, and researching inclusive digital education.

Impact of integrated reporting on firm value and earnings quality as a moderator in Southeast Asia

The study analyzes the factors influencing integrated reporting and its implications for firm value with earnings quality as a moderating variable. The study was conducted on energy sector companies on stock exchanges of several Southeast Asian countries. The selection is due to Southeast Asia’s vulnerability to global market sentiment changes related to financial and sustainability aspects. The study employed the SEM-PLS analysis method. 208 data from 26 companies over 8 years were used. The investigation affirms that leverage, age, and board size have positively impacted integrated reporting. Firm size, growth, and board independence have a negative impact on integrated reporting. Profitability, board activity, and stakeholder pressure have not significantly influenced integrated reporting, but integrated reporting positively impacts firm value. Additionally, earnings quality does not moderate the influence of integrated reporting on firm value. The study provides insights for companies to improve the presentation of high-quality information to stakeholders. Increasing the firm value of energy companies in Southeast Asian countries needs to be done as a progressive concern for environmental impacts and sustainably creating integrated reporting. 

FORECASTING THE QUALITY ASSESSMENT OF INTEGRATED REPORTING OF CORPORATE ENTERPRISES: EMPIRICAL EXPERIENCE OF SOUTH AFRICA

The quality assessment of integrated reporting involves analyzing various aspects of an integrated report of corporate enterprises to determine the level of compliance with standards and the quality of reporting on financial and non-financial aspects. The assessment can be carried out by various stakeholders: rating agencies, auditors, sustainability experts, analysts, etc. The lack of a forecast for the quality assessment of integrated reporting of corporate enterprises for the next three years makes it impossible to understand the ways of its further development.The purpose of the article is to develop new methodological approaches to forecasting the quality assessment of integrated reporting of corporate enterprises in South Africa. Such a forecast allows us to determine the future state of integrated reporting of corporate enterprises in South African countries.The information base of the research is the scientific works of Ukrainian and foreign researchers on the quality assessment of integrated reporting of corporate enterprises. The survey “Excellence in Integrated Reporting”, conducted by the international company EY for a period of 10 years (2013-2022), conducted among corporate companies, was used as an empirical basis for ensuring the evidence of theoretical provisions, the reliability of conclusions and recommendations, and the substantiation of corresponding forecasts.The practical value of the scientific research is that the results obtained by the authors will help to forecast the quality assessment of integrated reporting of corporate enterprises, which made it possible to identify relevant areas that can contribute to the development of integrated reporting of corporate enterprises and improve its quality.

Analisis Kelayakan Finansial dan Non Finansial Usaha Agroindustri Kopi

The Casim Coffe business is a coffee processing business located in Karang Pring village and uses coffee beans as its main raw material. Every year coffee beans always experience price increases which cause business disruptions. This study aims to analyze the financial and non-financial feasibility of the Cash Coffee business. The financial aspect is seen from the four criteria, namely NPV, IRR, PI or Net B/C and Payback Period. The NPV value obtained is IDR 366,069,410, the IRR value obtained is 26.79%, the B/C value obtained is 2.03, and the payback period is 2 years and 2 months. On the non-financial aspects seen from technical aspects, legal aspects, social and economic aspects, environmental aspects, market aspects. The results of the study show that Casim Coffe's business is feasible from a financial and non-financial perspective, except for the environmental aspect where Casim Coffe's business needs to process liquid waste so as not to damage the surrounding environment. The results of the sensitivity analysis conducted on Casim Coffe's business show that Casim Coffe's business is sensitive to changes in raw material prices and product sales prices.

Livelihood Assets Analysis of Freshwater Stingray Fishermen in Musi River, Palembang City, South Sumatera

Freshwater stingrays play a crucial role in the ecological and economic functions of the Musi River. Their existence in the Musi River is threatened by both natural and human factors. The livelihoods of fishermen in the Musi River depends on the sale of freshwater stingrays. This study aims to analyze the livelihood assets of freshwater stingray fishermen and their relation to natural, human, financial, physical, and social aspects. The research was conducted from February 2023 to March 2023 in the district of Seberang Ulu II, Plaju, Kertapati, and Gandus in Palembang City, South Sumatra Province. Livelihood asset analysis was performed using the livelihood asset method. The results indicate that the livelihood assets of fishermen in these districts have a moderate sustainability status, ranging from 0.48 to 0.50. Physical and natural assets have the lowest sustainability status index, averaging 0.31 across the four districts. Social assets in the four districts have the highest sustainability status index, averaging 0.88. These scores demonstrate the dependence of fishermen's livelihoods on the assets they possess. Recommendations from this study include the need to enhance financial and capital assets to reduce the sale of freshwater stingrays.

Technical and Financial Analysis of Floating Lift Net Business in Tulehu Village, Central Maluku Regency

Uncertainty of sustainability is a common problem in the fisheries business due to the nature of the fishes, which are seasonal and highly perishable. Therefore, financial analysis of this kind of business is essential to maintain its sustainability. Many small-scale fishing businesses requires an organized financial record keeping. This research is aimed at (1). Analyze the technical conditions of the floating lift net business in Tulehu Village, Central Maluku Regency, and (2) Analyze the financial aspects of the floating lift net business in Tulehu Village, Central Maluku Regency. The results show that the floating lift net in Tulehu Village measured 18m x 20m, with the construction parts consisting of a balancer, lift net house, support poles, net rollers, and anchor rollers, while the parts of the additional equipment which consist of nets, lighting devices, boats, and transport machines as well as scoops. The average number of fishing activities for floating lift nets in non-fishing seasons is 55 trips, while in the fishing season, it is 138 trips, with different fishing areas depending on the season. Based on the investment assessment criteria, the average R/C calculation value is 3.4, the average PP value is 3.26, and the average ROI value is 34.87%. The floating lift net business at the research location is financially feasible to develop.

Productive Employee Training and Its Impact on Retention

Background: The present research examines the financial aspects of efficacious employee training and its influence on employee retention in corporate environments. The study aims to assess how management assistance for employee retention, training and development, and future growth are related to performance reviews. Methods: Using a frequency distribution, the study looks at the demographic and social status of 297 participants who make up its sample. The reliability analysis demonstrates good consistency in the measurement scales. Results: Correlation analysis finds significantly positive correlations between the variables. A multiple regression analysis reveals a well-fitting model (R Square = 0.841), confirming the significant contribution of future growth, training, development, and management support to employees and performance reviews to explain variance in employee retention. Conclusion: The coefficient analysis emphasizes the significance of strategic approaches to improving employee retention and highlights the individual contributions of these factors. Novelty: This research adds to our understanding of the changing direction of employee retention. It offers valuable advice to firms looking to maximize managerial support and training strategies to cultivate a loyal and contented workforce.

The Impact of Islamic Financial Deepening on Economic Growth in Indonesia

Indonesia is starting to pay attention to this trending issue to boost national economic growth because Indonesia is still below other countries regarding the development of its financial sector, especially in Islamic finance. This study employs a quantitative research approach, utilizing multiple linear regression analysis, to investigate the influence of various aspects of Islamic finance on Gross Domestic Product (GDP) as an indicator of economic growth in Indonesia. This research is expected to be able to examine in more detail the role model of Islamic financial deepening in Indonesia and how it affects economic growth. Through a comprehensive discussion, we examine the potential impact of Islamic financial instruments, including Murabahah, Mudharabah (Islamic deposit), total assets of Islamic banking, Islamic stock market capitalization, and Islamic stock transaction volume, on economic growth. Findings suggest that while certain components, such as government bonds (sukuk), have a significant positive influence on GDP through infrastructure financing and investor confidence, others, like corporate bonds (sukuk), may have limited direct impact due to their focus on specific corporations rather than broad-based economic growth. This research contributes to the understanding of the role of Islamic finance in Indonesia's economic development and informs policymakers, practitioners, and academics on optimizing its contributions while ensuring financial stability and inclusion.

Can the text features of regulatory inquiry letters predict companies’ financial restatements? Evidence from China

PurposeSince the implementation of the regulatory inquiry system, research on its impact on information disclosure in the capital market has been increasing. This article focuses on a specific area of study using Chinese annual report inquiry letters as the basis. From a text mining perspective, we explore whether the textual information contained in these inquiry letters can help predict financial restatement behavior of the inquired companies.Design/methodology/approachPython was used to process the data, nonparametric tests were conducted for hypothesis testing and indicator selection, and six machine learning models were employed to predict financial restatements.FindingsSome text feature indicators in the models that exhibit significant differences are useful for predicting financial restatements, particularly the proportion of formal positive words and stopwords, readability, total word count and certain textual topics. Securities regulatory authorities are increasingly focusing on the accounting and financial aspects of companies' annual reports.Research limitations/implicationsThis study explores the textual information in annual report inquiry letters, which can provide insights for other scholars into research methods and content. Besides, it can assist with decision making for participants in the capital market.Originality/valueWe use information technology to study the textual information in annual report inquiry letters and apply it to forecast financial restatements, which enriches the research in the field of regulatory inquiries.

Participatory budgeting in Russia in conditions of economic instability

Subject. The article considers theoretical and methodological aspects of participatory budgeting development in Russia. Objectives. The aim is to substantiate the effects of using the participatory budgeting under economic instability. Methods. The study draws on general scientific methods of cognition (analysis, synthesis, induction, deduction, comparison, and analogy), and special methods of cognition (comparison of theoretical and practical material, expert method, systematization, and classification). Results. Changes in methodological aspects of budget planning significantly affected the implementation of budget policy. Budget planning is influenced by internal and external factors, and by entities with which public legal entities have to interact at the subnational level. The paper focuses on financial aspects of participatory budgeting, like the total amount of funding for participatory budgeting projects, the average cost per project, the number of funded projects, sources of funding. I investigated options for including participatory budgeting in the budget process of Russian regions and municipalities and identified two main ones used by public legal entities. Conclusions. The study substantiates why participatory budgeting is advisable to apply in conditions of economic instability and uncertainty. It highlights the effects of the development of participatory budgeting practices and specifics of their implementation at the municipal level. The findings can be useful for public authorities, local governments, and those involved in participatory budgeting.

Diagnostic Instrument Design: Teleworking Efficiency Index

Purpose: To present the design of a new diagnostic tool called “Telework Efficiency Index” that is able to evaluate the performance of the telework modality for any business activity. Method: For the design of the telework efficiency index, it was necessary to reveal some current experiences of the phenomenon of telework in Argentina, carrying out a field investigation through surveys and in-depth interviews with three companies operating at national and international level, two of them belonging to the telecommunications and IT sector, and another, belonging to the tourism sector as a corporate agency. Results and conclusion: The field research carried out for the design of a new teleworking diagnostic tool, shows quite strong results of the benefits associated with the company and its workers. There is a better balance between work and family/personal activity in terms of a proportion of time spent on the order of 45% for work activities and 35% for family and personal leisure activities. í 83.33% of respondents say that the link in the ón labor relationship has improved since teleworking, and with respect to the link with their íworkñ 60% say that it has improved. In addition, 60% said they were á with teleworking, and the remaining 40% were very satisfied. Being that 50% states that the level of stress at work has decreased and has significantly improved their quality of life at the same time as their work performance. é. The biggest deficiency in 76.66% lies in the imperative need to educate and train the skills and abilities of people to perform telework optimally. The telework efficiency index represents a diagnostic tool that evaluates the performance of telework, taking as a central axis of analysis the person who exercises telework over other variables of lower incidence such as the technological infrastructure and the economic and financial aspects of organizations. Implications of research: A phenomenon of growing global trend is taken as a starting point, which emerges strongly in recent decades as a result of the great development of information and communication technologies in the productive and social field, and in particular, from the COVID-19 pandemic that has definitively consolidated telework as a new modality of work organization, which benefits all parties involved. In this framework, the design of a diagnostic tool "telework efficiency index" that evaluates the performance of telework is presented, and facilitates better strategic decisions in organizations in the new era that transits society and the productive sector. Originality/value: This study allows to present to the productive community a new diagnostic tool that evaluates the performance of telework, where the psychological and emotional aspects of the people willing to exercise telework over technological issues are placed in the center of the scene. This tool provides an original contribution of analysis to the discipline, considering telework as a disruptive methodology of work organization.

Theatre effectiveness calculation

With its origins dating back to ancient times, theatre faces competition from more modern and technological forms of entertainment in the 21st century. Consequently, the question of genre demand and its effectiveness – both mental and economic – is quite relevant. For Ukrainian theatre, which has faced the challenges of a full-scale invasion, the issue of effectiveness is even more significant. This study aims to determine the main indicators for assessing the effectiveness of theatres by analysing key performance indicators and financial aspects of institutional management. Using such methods as statistical analysis, comparison, synthesis, and forecasting, the research examined the current state of the industry and its economic indicators. As a result of the study, an increase in indicators of gross income, the number of employees, and personnel costs in Ukrainian theatres during 2015-2018 was proven, and the impact of COVID-19 on the activities of institutions was assessed using the example of Lviv. Separately, the impact of the war on the industry was studied, the mistakes made by Crimean theatres during the temporary occupation were assessed, and an analysis of the repertoire of relocated institutions on new stages was conducted. A unified system for comparing the economic indicators of various objects of performing arts was also developed, which is based on such a universal unit of measurement of goods as one spectator seat. The practical significance of the study lies in the creation of a set of economic effectiveness indicators – such as sales, cost, and troupe occupancy – which can be useful for relevant ministries and departments in calculating actual financial indicators and planning

Parental involvement and support of selected parents for children with special needs: a case study

The purpose of the study was to determine the extent of parental involvement with respect to guiding, communication, home training and attending meetings/conferences in the school. As well as parental support with respect to financial, psychological, and emotional aspects were used. This study made use of the descriptive methods of research. The questionnaire-checklist developed and subjected to validation of experts in the field of research and education. The subject-respondents of the study were the 40 parents and 3 Special Education teachers who were chosen through stratified random sampling. Regarding the assessment of the respondents, parental involvement components such as Guiding, Communicating, Home Training and Attending Meeting/School Conference that affected the learner’s performance were assessed often by the parents. Among the four, Attending Meeting/School Conference had a notable mean of 6.35 verbally interpreted as Often. In terms of parental support Financial, Emotional and Psychological aspects, they gained Often as elicited by the parents toward their child. Among the three, the financial aspect had the notable mean of 3.67 verbally interpreted as Often. There was no significant difference on the assessments of the two groups of respondents on the extent of parental involvement since the t-value did not exceed the 0.05 level of significance which failed to reject the null hypothesis. However, there was a significant difference on the assessment of the two groups of respondents on parental support and psychological aspect and no significant difference on financial and emotional aspect. Lastly, the School Improvement Plan and Annual Implementation Plan carried out involvement programs engaging parents and other stakeholders.

Evaluating clinical practice guidelines for the management of rectal cancer: Did they get it RIGHT?

Clinical Practice Guidelines (CPGs) are crucial tools for clinicians seeking to deliver evidence-based patient care. We utilized the Reporting Items for practice Guidelines in HealThcare (RIGHT) checklist to assess the reporting quality of CPGs addressing the management of rectal cancer. Four multidisciplinary rectal cancer CPGs published 2017-2022 were evaluated: American Society of Colon and Rectal Surgeons (ASCRS), European Society for Medical Oncology (ESMO), National Comprehensive Cancer Network (NCCN), and National Institute for Health and Care Excellence (NICE). We quantitatively assessed each CPG using the RIGHT checklist and qualitative analysis was performed to generate common themes. RIGHT checklist items fulfilled by each CPG ranged from 12 to 17 (out of 22). Each guideline demonstrated unique categories of weakness: ASCRS in Basic Information (1 of 4 items), ESMO in Evidence (1 of 3), NCCN in Recommendations (1 of 3), and NICE in Review and Quality Assurance (0 of 2). Common themes that emerged included sprase discussion on the financial aspects of rectal cancer management and lack of transparency in formulating recommendations. Despite their variability, each of the 22 checklist elements are present in contemporary CPGs. Utilizing the RIGHT checklist would allow experts to create guidelines adhering to high-quality reporting standards.

Strategy of Productive Waqf Utilization as a Medium for Food Security in Indonesia: An AHP Approach

This study aims to determine the problems that exist in the use of waqf as a medium for food security in Indonesia and the priority solutions for the use of productive waqf as a medium for food security in Indonesia in terms of institutional, infrastructure, financial, community and government aspects. this is the Analytical Hierarchy Process (AHP). This study used seven expert respondents representing academics, practitioners and regulators who were asked to assess the problems and solutions for the use of productive waqf as a medium for food security in Indonesia. Based on the opinion of respondents, the biggest problem in the use of productive waqf as a medium for food security in Indonesia is the lack of socialization to the public regarding productive waqf as a medium for food security. The priority solutions in this research are waqf institutions and the government need to collaborate in implementing productive waqf utilization as a medium for food security in Indonesia. Furthermore, in general the aspect that is considered the most problematic is the government aspect, while the priority for solutions is the institutional aspect. Therefore, in the use of productive waqf as a medium for food security in Indonesia, the public needs to increase their understanding of productive waqf as a medium for food security, the government needs to collaborate with waqf institutions and farmer groups as well as waqf institutions need to improve their professionalism.

Uncovering the themes and trends in crowdfunding research using Latent Dirichlet Allocation

AbstractCrowdfunding (CF) has become a significant force in the entrepreneurial landscape, offering an innovative alternative to traditional financing channels for startups and projects. As the field expands, it is crucial to systematically analyze the existing literature to identify key themes, patterns, and emerging areas of interest. To achieve this goal, this study investigates the CF literature using latent Dirichlet allocation (LDA)-based topic modeling based on 1,678 publications extracted from the Scopus database. The review reveals significant growth in CF research, with top journals spanning diverse disciplines. Eight main topics are identified, including CF campaign success and financing, donation-based CF, social effects of CF, entrepreneurial projects and rewards in CF, financial and fintech aspects of CF, CF project success and performance, P2P lending models and credit risk assessment, and equity CF and venture capital. Several research directions are suggested for each topic to advance the CF field. The theoretical and practical implications are also discussed. To the authors’ best knowledge, this study represents the first systematic analysis of the CF literature using the LDA approach, offering a comprehensive and up-to-date overview of this field and highlighting emerging areas of interest and potential research directions.

Analyzing the Dynamics of Social, Economic, and Cultural Changes and the Role of Institutions in Oil Palm Agribusiness Development

This research aims to reveal the dynamics of social, economic, and cultural changes in agribusiness institutions in oil palm development locations. Then reveal the role of each agribusiness institution in oil palm development locations. Using a qualitative approach to build a post-positivism approach. The research location is limited to the community (farmers) in Anggabaeri District and Besulutu District, Konawe Regency. These two research areas were chosen purposively. The database used in determining farmer groups is groups that are active and registered in the Extension Information System or SIMLUH data so 22 informants were obtained consisting of farmer group institutions, cooperative institutions, and government agencies, as well as from the Agricultural Extension Center. Specifically for farmers, the informants selected consisted of independent and plasma farmers. Data was obtained by distributing questionnaires and interviews and then analyzed descriptively. The results of the analysis show that from a social, economic, and cultural perspective, the presence of oil palm plantations brings significant changes. These changes include shifts in social stratification, interaction patterns, and improvements in health status. Apart from that, the regional economic structure is also undergoing a transformation which has an impact on increasing the income of various communities such as workers and farmers. Then there is the role of institutions, especially farmer groups, and cooperatives, in supporting and facilitating farmers' interests as a learning vehicle, production unit, and collaboration forum. Extension institutions play an important role in increasing farmers' capacity, and cooperatives contribute significantly to the provision of production facilities, transportation, and marketing of crops. An important finding is the important role of cooperatives in managing various risks associated with oil palm farming. These risks include business, financial, social, and legal engineering aspects. Cooperatives play an important role in mitigating these risks and ensuring the overall well-being and success of their members.

Power Plant Maintenance Investment Decision Making Based on Reliability, Availability, Maintainability and Risk Cost Case Study: Replacement Tube HRSG 1.2 Combine Cycle Power Plant Belawan

This study analyzes the feasibility of investing in the HRSG 1.2 replacement tube as a guide in making decisions based on reliability, availability, maintainability as an operational aspect, and risk cost as a risk aspect and analyzes the financial aspect. This feasibility analysis was carried out on 3 alternative options, namely just replacing the leaking HRSG 1.2 tube or corrective maintenance, doing the HRSG 1.2 tube replacement as a whole and doing the HRSG 1.2 tube replacement partially. In the analysis of operational aspects, it was obtained an increase in the reliability value of HRSG 1.2 by 0.137, an increase in the availability of HRSG 1.2 by 0.016 and an increase in the maintainability of HRSG 1.2 by 0.0006, so that it could increase operational performance combine cycle power plant block I. In the financial aspect analysis, capital budgeting was calculated which resulted in a net present value of IDR 360.419.186.184 and an internal rate of return of 7,51%. Meanwhile, in the risk aspect analysis, the risk cost value is below the risk appetite statement and in the moderate category. So that the investment work to maintain the HRSG 1.2 CCPP Belawan replacement tube is feasible to increase company value.