Terms Of Financial Performance Research Articles

호텔레스토랑의 SNS마케팅믹스와 관계혜택, 관계지향성 간 관계

The purpose of this sturdy is to verify the effect of SNS marketing outcome on the recognition of relationship benefit and relationship orientation formation aimed at customers of hotel restaurant. The survey on 272 samples was conducted from October 15th to October 19th(5 days) and then it was analyzed through SPSS 25.0. The implications from this are as follows. First, the mosts crucial part of SNS marketing for relationship benefit of customers is psychological effect and the main influential factor is sales promotion mix such as event, promotion and premium, etc. Second, the 3 common factors for relationship benefits the hotel restaurant recognizing are timeline, the latest information and accessibility. Lastly, psychological benefit and convenience benefit among recognized relationship benefits influencing relationship benefits of customers have significant effects. On the other hand, the economical effect is not identified. This study has differentiation in that it approached the marketing mix in terms of SNS marketing dimension through various channels. On the other hand, this study has its limitations in that it is not fully generalized because of sampling method and it only covers the outcomes of SNS marketing in terms of relationship marketing. Further study would provide specific academic and practical implications by applying performance variables in terms of financial performance.

Shariah Banking and Financial Performance of Selected Commercial Banks in Kenya

Financial performance is important among banking institutions. The ability to reinvest earnings and aggressively compete for the market share in the business environment is determined by the level of profits. In recent past, Kenyan commercial banks financial performance has declined due to a number of factors ranging from decline in PAT, interest capping, increased competition and rise in non-performing loans. This has created a need for income diversification where commercial banks are diversifying into shariah banking so as to attract investors with an interest in shariah compliant products and services. The main research objective was to investigate shariah compliant banking effects on the selected Kenyan commercial banks in terms of financial performance. The independent variables employed in the study were liquidity, efficiency and asset quality as determinants of financial performance of commercial bank. There are major gaps in the financial performance literature regarding shariah compliant banking. Minimal research studies have been carried on financial performance comparison between commercial and shariah compliant banks in Kenya. In order to achieve the research objectives, descriptive research approach was employed in the study. A census study was carried out; secondary data from relevant central bank data will be used. The population was the four commercial banks operating shariah banking in Kenya. Secondary data from 2013 to 2017 was obtained from the central bank website and the audited financial statements of the selected licensed commercial banks operating shariah banking in Kenya. Data analysis was achieved through use of descriptive, correlation and regression methods. Data was processed through Statistical Package for Social Science software (SPSS). Data was analyzed using descriptive and inferential analysis and presented using charts and tables. Ratio analysis and trend analysis was used in the study. The study aimed at using the framework of innovation diffusion theory to suggest a model for adoption of shariah banking in the Kenyan banking industry, modern portfolio theory to explain the importance of diversified portfolio in the Banking Sector and Agency Theory. The study found commercial banks’ performance was as a result of that Shariah banking ratio then by liquidity ratio, efficiency ratio, asset ratio, and finally bank size. Bank size had a ratio of 0.0128, expense management ratio 0.0131, efficiency ratio 0.0024, Asset quality 0.0006, liquidity ratio 0.0120 and sharia banking ratio was 0.0025. It was revealed by the research that commercial banks’ adoption of shariah banking positively influenced their financial performance. This research recommends that same studies to be carried out in Africa’s Eastern part to compare since shariah banking’ concentration is on the Asian and West Africa countries. The research recommends that commercial banks management take advantage of its existing branch networks to open shariah banking alongside its core business in tapping the potential new clientele.

Internal Control Practices and Financial Performance of County Governments in the Coastal Region of Kenya

Internal control practices have been established to influence financial performance of County Government, though County Government have been facing a myriad of challenges in terms of financial performance. The drive of this study was to establish internal control practices that influence county governments to streamline their operations and perform efficiently and effectively for the benefit of the general interest. Therefore the general objective of the study was to determine the internal control practices and financial performance of county governments in the coastal region of Kenya. Specifically, the study endeavored to establish the effect of audit function, risk management, financial reporting and cash management on financial performance of county governments in the coastal region. The study was based on the following theories: The Agency theory, Attribution theory and procedural justice theory. The researcher adopted a descriptive research design. The target population of the study were 30 employees drawn from 5 departments in the Ministry of Finance, Budget and planning in the county governments of the Coastal region. The study targeted 4 Counties in the coastal region of Kenya, that is Mombasa, Kilifi, Kwale and Taita and the respondents were 40 finance managers obtained from Finance Planning Ministry of the listed County governments. A census of 40 respondents was carried out. Primary data was collected using questionnaires. Data was analysed using descriptive statistics and inferential statistics. The study found a positive and significant effect between risk assessment, monitoring, control environment, information and communication on financial performance. The study concluded that the risk identification and mitigation play the most significant role in influencing financial performance of the County governments. Hence, risk identification can essentially be said to be the key starting point of any risk management program as the Counties cannot manage what is unknown. Monitoring the financial performance of the County creates more certainty and confidence in making both short and long term decisions. This in turn leads to a healthier business and faster growth rate. The control environment provides the basis for carrying out internal control across the organization. Effective adoption of information and communication systems is of vital importance in making sure that the County governments improves their financial performance. The study recommends that the management of the Counties should put in place cost-effective measures for timely risk identification and effective risk mitigation so as to ensure that their financial performance is not impacted negatively. The County governments should have appropriate tools for monitoring their financial performance so as to effectively monitor their goals, the progress they make and all the key performance metrics throughout their financial operations. The County governments should demonstrate a commitment to integrity and ethical values. Specific standards of conduct should be understood throughout all levels of the County, and processes should be in place to evaluate performance and quickly address deviations from expectations. The County governments should communicate successfully with their investors to form stronger relationships with them. Information and communication should be between the County and financial stakeholders about the County’s economic events and their effects within and outside the financial statements.

A Comparative Study on Financial Performance of the Participants in Indonesia Sustainability Reporting Awards

The main objective of this research is to analyze the financial performance of companies that have participated in Indonesia Sustainability Reporting Awards (ISRA) competitions in 2009–2017, both regularly and temporarily. This study also analyzes the differences in financial performance in terms of industrial sector factors and the number of workers. This research applies secondary data, which is carried out with independent t–test and multivariate test. Companies that consistently participate in ISRA competitions have a smaller level of leverage, and more exceptional ability to generate operating cash. Companies with fewer than two thousand employees are more productive than companies with ten thousand employees. However, when the number of employees is more than ten thousand people, productivity managing assets is even better. It seems that investors appreciate small companies more. Compared to companies in the banking sector, companies in the manufacturing and non–manufacturing industries have more substantial debts, more productive assets, and higher stock market values. It seems that investors appreciate this ISRA competition more for non–banking companies.

Working Capital Management and Firm Performance: Evidence from Non-Financial Firms in Pakistan

This study analyzes the effects of Working Capital management i.e. inventory management, receivable management and payable management, on the performance of the non-financial firms in Pakistan. Panel data of 280 nonfinancial firms enlisted in Pakistan Stock Exchange have been analyzed from 2000 to 2016. Firms’ profitability were proximate with return on assets and return on equity; whereas for growth i.e. sales growth and asset growth were used. The impact of Working Capital management is captured through its constituent policies such as Inventory management, Receivable Management and Payable management. Firm size, liquidity and leverage are used as control variables. Results suggest that Working Capital management has a significant impact on firms’ financial performance in terms of profitability, as well as growth. As far as component wise results are concerned, inventory management does influence the firms’ growth and Payable management significantly, hence affecting the firms’ profitability. However, only receivable management influences both profitability and growth.

A Study on the Factors Affecting the Financial Performance of Select Commercial Banks of Ethiopia

This study examines the Analysis on financial performance determinants: A study on selected commercial Banks in Ethiopia. Among the total of 17 public and private sector banks by using Purposive sampling technique 9 banks have been selected for the study. Quantitative research approach was adopted by using secondary data by using panel data of banks over a period of ten years (2006-2015). The fixed effect model was chosen rather than random effect model based on the hausman specification test result. In order to realize the objectives of the study multiple regression models was employed. Banks specific factors considered CAMEL approach and the key macroeconomic factors such as gross domestic product, inflation rate and foreign exchange rate were also included to analyze the banks financial performance in terms of ROA and ROE, Accordingly, the result revealed that Capital adequacy has positive and significant impact on bank financial performance of return on asset, and Earning ability and liquidity management has negatively and significant impact on bank financial performance of return on equity, On the other hand, variables such as Gross Domestic Variable has positively impact on both return on asset (ROA) and return on equity (ROE). Keywords : Financial performance, Banks. DOI : 10.7176/RJFA/10-9-02 Publication date :May 31 st 2019

THE EFFECT OF SERVANT LEADERSHIP AND BREAKTHROUGH LEADERSHIP ON ORGANIZATION PERFORMANCE WITH EMPLOYEE SATISFACTION AS INTERVENING VARIABLE AT IDX-LISTED (INDONESIA STOCK EXCHANGE) COAL MINING COMPANIES IN INDONESIA

Indonesia is the third largest coal producer in the world. Indonesia's total coal production in 2018 is 528 million tons. Of this amount, 320 million tons are produced by coal mining companies listed on the Indonesia Stock Exchange. Among these coal mining companies, there are large performance gaps between each other, both in terms of financial performance and production achievement. Their performance is hypothesized to be influenced by leadership style. The purpose of this study was to analyze the influence of servant leadership and breakthrough leadership on organizational performance with employee satisfaction as an intervening variable in coal mining companies listed on the Indonesia Stock Exchange. Respondents from this study were 12 coal mining companies listed on the IDX in Indonesia. The type of research used is quantitative methods. The research respondents were 113 people in the position of supervisors to directors. Data were analyzed using the Structural Equation Model (SEM - AMOS). The results showed that servant leadership did not have a positive impact on employee satisfaction but had a positive impact on organizational performance, while Breakthrough Leadership had a positive impact on employee satisfaction but did not have a positive impact on organizational performance. Employee satisfaction has a positive and significant impact on organizational performance but does not mediate organizational performance. Novelty from this research is about breakthrough leadership.Keywords: Servant Leadership, Breakthrough Leadership, Employee Satisfaction, Organizational Performance.JEL Classifications: L1, L2DOI: https://doi.org/10.32479/irmm.8159

An empirical investigation of the relationship between financial measures and corporate social responsibility

<span lang="EN-US">Nowadays, in actual business world, corporate social responsibility (CSR) occupies an important place in doing business all over the world. The public commonly takes CSR as the necessary for businesses to make extra improvements to the well-being of society. De facto, it is difficult to find a specific definition of CSR. The purpose of this study is to carry out research on whether CSR has a significant relationship with organizational financial performance in terms of earnings per share (EPS) and annual return rate of individual stocks (RETURN), with a major target on quoted companies in Taiwan. In this study, we establish a multi-factor regression model to examine corporate value. The Taiwan Economic Journal (TEJ) database is used to explore the relevance. Empirical results show that: (1) Sales growth rate (SGR) has a positive impact on RETURN; (2) CSR and leverage (LEV) have a significantly correlation with EPS; (3) SGR and return on equity (ROE) have a significant relationship with RETURN; (4) CSR and ROE have a significantly correlation with EPS. Consequently, the EPS of the companies that implement CSRs are better than those that do not implement CSRs. However, the results do not indicate that the RETURN of the companies that implement CSRs are better than those that do not implement CSRs.</span>

Analisis Rasio Keuangan Pada PT. Bluebird Tbk Setelah Adanya Sarana Transportasi Berbasis Online

The purpose of this study was to analyze the Financial Ratio at PT Bluebird Tbk after the existence of online-based transportation facilities. The company's problem arose since the entry of online transportation facilities where there was a significant decrease in income. Ratio analysis in the opinion of Munawir An analytical method to determine the relationship of certain items in the balance sheet or income statement individually or in a combination of the two reports. The research method used is liquidity ratio, solvability ratio and profitability ratio. The results show that the relationship between liquidity and solability can be said to be "liquid and solvable", meaning that the condition of the company is declared healthy and in good condition because the company is able to pay off its obligations that are due on time. Furthermore, the relationship between solvency and profitability can be said as "solvabel and inprofit", meaning that the condition of total corporate debt tends to decrease, not accompanied by a decrease in profit from year to year. Declining profit growth does not affect the rate of return on short-term debt from the company. This means that even though profits are reduced, the company can still return the current debt fairly well. Thus, after the entry of other online-based transportation facilities there is a downward trend in indicators of profitability, while in the other two indicators tend to be in a good position. This is because the company has not been able to manage financial performance in terms of profitability efficiently.

ÇAY İŞLETMELERİ KURUMUNUN (ÇAYKUR) FİNANSAL PERFORMANSININ DUPONT FİNANSAL ANALİZ SİSTEMİ KULLANILARAK İNCELENMESİ

Bu çalışmanın temel amacı Türk çay sektörünün en önemli aktörlerinden olan ÇAYKUR’un finansal performansının DuPont Analiz Tekniği ile analiz edilmesi ve ölçek temelinde finansal performans açısından farklılık olup olmadığının belirlenmesidir. Bu kapsamda bağımsız denetimden geçmiş finansal durum tabloları ve kapsamlı gelir tabloları yardımıyla ÇAYKUR’un 2015, 2016 ve 2017 yıllarına ait finansal performansı ölçek temelinde DuPont analiz tekniği ile incelenmiştir. Analiz neticesinde ÇAYKUR’da aktif devir hızı, ROS, ROA ve ROE gibi değerlerle ölçülen finansal performansın 2015 yılında kısmen başarılı 2016 ve özellikle 2017 yılında ise önceki yıllara oranla ciddi bir şekilde azaldığı ortaya çıkmıştır. Sonuç olarak analizi kapsayan yıllar itibariyle ÇAYKUR’un finansal performansının başarılı olmadığı tespit edilmiştir.

ОБЗОРНЫЙ АНАЛИЗ ФИНАНСОВО-ЭКОНОМИЧЕСКОЙ ДЕЯТЕЛЬНОСТИ КОМПАНИИ HUNTINGTON INGALLS INDUSTRIES

The paper covers operations features of Huntington Ingalls Industries, one of the leading contractors of the US Department of Defense (DoD), in terms of financial performance and business outlook. In general, taking into account the increase in the DoD budget and the increase in appropriations for the procurement of military equipment and weapon systems, as well as R&D, we can say that this had a positive impact on companies of the US military-industrial complex as a whole (both larger and smaller) and led to improved financial performance and level of investment attractiveness. At the same time, it is quite obvious that the high growth rates of the DoD budget cannot be maintained for a while, which in the long run presents significant risks for the companies, as it can lead to a decrease in funding and the volumes of government contracts. Since there are a significant number of studies and publications for large companies in the sector, the author puts emphasis on smaller companies, the number of papers on which is small, but analysis on which is important because of their role and functions in the US military-industrial complex. These include Huntington Ingalls Industries, which specializes in the implementation of the US Navy's shipbuilding program. The analysis showed that the dynamics of its financial and economic operations, in general, can be characterized positively, despite the observed moderate decrease in values of some financial ratios. The outlook for its business in the long run can be assessed as sustainable, but for the period after 2025, attention should be paid to a number of risks that are primarily associated with a reduction of the US Navy shipbuilding program.

Pengunaaan Analisis Rasio dalam Pengukuran Kinerja Keuangan Perusahaan pada PT. Gudang Garam Tbk

The motivation of this research is research (Rosini & Gunawan 2018; B.Batchimeg 2017). In addition, the motivation of this study also continued the research of Sayekti Suindyah Dwiningwarni (1997). The purpose of this study (1) to analyze the development of corporate financial performance from solvency and profitability ratios; (2) to analyze the measurement of the company's financial performance using solvency and profitability ratios. This research uses quantitative descriptive analysis method.The results of the study (1) the development of the company's financial performance in terms of solvency ratios experienced good development, this is indicated by the value of the solvency ratio that is getting better / better in fulfilling both short and long term obligations; (2) the development of the company's financial performance in terms of profitability ratios from experiencing good development, this is indicated by the value of the profitability ratio that is getting better / better in generating profits or profits; (3) measurement of company performance in terms of solvency ratio shows solvable conditions, meaning the assets is greater than the debt. (4) measurement of company performance in terms of profitability ratios shows good conditions, meaning the level of profits obtained from year to year has increased. This means that the company is in good financial condition and sovabel.

Financial Performance of Islamic Banks in Turkey and the United Kingdom: A Comparative Study

Islamic banks are financial institutions just like conventional banks. However, Islamic banks do not deal with interest and are based on participation. These institutions raise funds and employ them within the scope of Islamic (Shariah) principles where the bank and the depositor share the business, thus sharing the profits and losses. This paper focuses on making a comparative between three Islamic banks in Turkey and five Islamic banks in the United Kingdom in terms of financial performance. More so, it aims to investigate whether or not Islamic banks in Turkey are more profitable, less risky, liquid, operationally efficient, and have a good management quality compared to the Islamic banks in UK. The time span used in this study is one period. The period is four years from 2013 until 2016. Our study used time series data (pooled Least Squares) (PLS) as panel regression on nine financial ratios (CAMEL) to examine the financial performance of these banks according to their profitability, Capital adequacy, Asset quality (riskiness and solvency), Management quality, Earning diversification (operationally efficient), and Liquidity. However, our results are insignificant for UK and significant in Turkey in terms of asset quality and management quality.

Analisis Kinerja Keuangan Bank Aceh Setelah Konversi Periode 2016-2018 Berdasarkan Peraturan Otoritas Jasa Keuangan Nomor 8/POJK.03/2014

<p>This research aims to find out how Bank Aceh's financial performance after conversion in terms of earnings and capital. The type of research used is quantitative descriptive research. The data collection method used is the documentation method based on the data in the form of quarterly financial statements for the 2016-2018 period published. The method of data analysis in this study is by using the RGEC method (Risk Profile, Good Corporate Governance, Earning and Capital). The results of the study show that Bank Aceh's financial performance in terms of profitability ranks 2, with the definition that profitability is adequate, profit exceeds the target and supports the growth of bank capital. Bank Aceh's decision to convert to sharia as a whole was a very appropriate decision because it was able to show good performance, besides that it also supported the Aceh Government in carrying out its programs to enforce Islamic law. Bank Aceh's financial performance in terms of capital also ranks 2, with the definition that banks have adequate capital quality and adequacy relative to their risk profile, which is accompanied by strong capital management in accordance with the characteristics, scale of business and the complexity of the bank's business.</p>

Analysis of Factors Influencing Financial Performance of Savings and Credit Co-operative Societies in Lesotho: Evidence From Maseru District

SACCOS play a major role of providing financial access to poor people who are excluded from the services of Formal Financial Institutions (FFIs). However, they also face number of challenges which may affect their performance. Most of the previous studies in the area of SACCOS did not concentrate on their performance. The aim of this study therefore was to assess performance of SACCOS in Maseru District, Lesotho. The study adopted a cross-sectional research design where data were collected at one point in time. A sample size of 369 respondents was computed by the use of formula by Yamane (1967). Respondents in the sample were selected by using simple random sampling technique. However, respondents from individual SACCOS were proportional to the total number of members in particular SACCOS. This was done in order to make the sample representative of all SACCOS in the study area. Analyses of data were done by using different techniques which include: mathematical equations (i to vii); different financial ratios; tables; graphs; bar charts and other types of descriptive statistics like mode and percentages. It was found that socio economic characteristics of members were supportive to financial performance of the SACCOS. Furthermore, SACCOS in the study area achieved high performance in terms of ratios of members’ capital; loan delinquency; volumes of savings in the SACCOS; and growth of total assets. On the other hand, the SACCOS realised poor financial performance in terms of ratio of fixed assets to total assets; and share capital owned by members.

EFEKTIVITAS PENYERAPAN ANGGARAN PADA MINISTÉRIO DAS OBRAS PÚBLICAS TIMOR LESTE

The purpose of this study was to investigate to know and analyze the effectiveness of budget absorption at the Ministry of Public Works in East Timor. This study was conducted to assist the Directorate of Public Works in East Timor, as the basis for decision-making and evaluation of budget absorption, also contribute to science in terms of the absorption of the government budget. This study uses the data collection techniques the Documentation that the data collected through the existing budget documents in the Ministry of Public Works in the State of Timor Leste. Documents such as financial reports comprise the budget from 2009 - 2013. The Data was processed with descriptive approach is by using a ratio of budget effectiveness ratio of the budget, where the results of the two ratios Compared to the standard budget applicable at the Government of Timor-Leste.
 The results showed average effectiveness of the budget from 2009 to 2013 amounted to 89.29% with the percentage 80%-90% or categorized Effectiveness. This shows that the financial performance in terms of absorption of Timor Leste Ministry of Public Works in 2009 to 2013 are good.

Can Capital Structure Affect the Financial Performance of Banks in Turkey?

<p>The aim of this study is to investigate the determinants of banks’ financial performance in terms of the capital structure. Annual financial statements of 11 banks traded in Borsa Istanbul are employed for the period of 2006-2016. Return on assets, return on equity and earnings per share are chosen for financial performance measures. The independent variables related to the capital structure are capital adequacy, equity-to-asset, and financial leverage ratios. In addition, macroeconomic variables and bank-specific variables are also considered as control variables for the analysis. The data are analyzed by the panel data regression analysis as it provides more informative finding and less multicollinearity among variables than time series and cross-sectional analyzes.</p><p>The Hausman test results indicate that the random effects model is appropriate for the whole dependent variables. According to the findings; while equity-to-asset ratio affects return on assets positively, amongst the control variables specific to firms, firm size, asset quality and asset growth variables have significant effects on return on assets. It is found no significant effect of independent variables on return on equity, however, it is seen that asset quality has a negative and significant effect. Inflation and interest rates have a significant effect on both variables. Finally, it is seen that equity-to-asset ratio has a positive and significant effect on earnings per share. Only the effect of asset quality on earnings per share is found to be significant among the control variables. Findings of the study are consistent with the previous studies. In addition, the M&M views are not supported by the findings related to return on assets and earnings per share but the return on equity.</p>

Environmental, social and economic growth indicators spur logistics performance: From the perspective of South Asian Association for Regional Cooperation countries

This article examines the association between green logistics operations, social, environmental and economic indicators of SAARC (South Asian Association for Regional Cooperation) countries. The research used GMM (Generalized Method of Moments) and FGLS (Feasible Generalized Least Squares) two methods to tackle the problems of heterogeneity, serial correlation and heteroskedasticity. The findings show that fossil fuel consumption is at the heart of logistics operations; the more fossil fuel and non-green energy resources that are used, the more negative effects on society and environmental sustainability result from this. A lower quality of transport-related infrastructure and logistics services is negatively correlated with fossil fuel usage, carbon emissions, health expenditure, greenhouse gas emissions and political instability of SAARC countries. Conversely, efficient customs procedures and greater information sharing among supply chain partners increase trade opportunities and also improve environmental sustainability in terms of minimum carbon emissions due to the shorter waiting and queue times involved. Further, the application of green energy resources and green practices can mitigate negative effects on social and environmental sustainability due to better logistics operations while improving financial performance in terms of higher GDP per capita, trade openness and greater export opportunities around the globe. As there is very limited research using green practices relationship with macro-level indicators in current literature, this research will assist both practitioners and policymakers to understand the roles of green supply chain and green logistics in enhancing environmental sustainability, social improvement and economic growth for a better future.

Sustainability assessment of Iranian petrochemical companies in stock exchange: A data envelopment analysis‐based approach

AbstractThe assessment of efficiency is always of particular importance according to different indicators from different perspectives. There are various techniques for evaluating petrochemical companies, among which the data envelopment analysis technique is one of the best techniques that can be used to calculate the relative efficiency of a set of decision‐making units with network structures. In the present paper, seven petrochemical companies listed in the Iranian stock exchange were analysed. These companies were evaluated in terms of financial performance and sustainable development, and their relative efficiency was calculated during 2015–2016. According to the obtained results, only Marun Petrochemical Co. was found to be efficient in all areas and years. The results also showed that four companies were efficient in financial terms over the period under study. In the general conclusion regarding the companies' performance, Marun was ranked first, Jam was ranked second, and Zagros was ranked third.

Cittaslow & fast-growing SMEs: Evidence from Europe

It is stressed in the literature that territorial certification critically influences tourist destination competitiveness; however, it remains unclear as to how they influence local Small Medium Enterprises (SMEs) value creation. The research contributes to the literature by testing the relationship between territorial certifications and SMEs value creation. Based on literature review, a research model and hypotheses has been developed. The study used a quantitative analysis based on a sample composed of 1148 SMEs from 128 cities (members of the Cittaslow Association) in 15 European countries. The results highlight the direct relationship between territorial certification and SME performance in terms of both annual sales growth and positive financial performance. However, findings show that the impact of territorial certification on local SMEs enables more rapid results in terms of financial performance as opposed to annual sales growth. The implications for management and local government, considerations for future research, and the limitations of the study are also provided.