Managerial Ownership Research Articles

The Effect of Ownership Structure on the Going Concern Companies Listed in the Iraqi Stock Exchange

The ability of the economic unit to continue is one of the basic assumptions for preparing financial statements. Therefore, users of these statements need to have a clear image of the unit’s performance and financial situation and to ensure that there is no indicator warning of financial distress. For example, there is a conflict of interest between the unit’s shareholders on the one hand and the management on the other hand. Therefore, this research seeks to study the effect of the difference in the nature of the ownership structure on the going concern of economic units. The research is based on the hypothesis that each type of ownership structure has a negative impact on the going concern unit. The research selected five economic units listed on the Iraqi Stock Exchange from the service sector as a sample for the research. Data is collected for the period extending from 2011-2021. The research used the survey method to measure the ownership structure and applied a Kida Model to measure going concern. The most significant results of the research are a negative effect of institutional ownership, concentrated ownership, and management ownership on the going concern of the unit, In contrast, the effect is positive for both government ownership and family ownership, and foreign ownership has no effect. Paper type: Research paper

Disclosures in integrated reporting in Indonesia: Do corporate governance and ownership structures matter?

This study aims to analyze the impact of corporate governance and ownership structure on implementing elements of integrated reporting (IR) in the annual reports and sustainability reports of firms in Indonesia. This study includes corporate governance elements such as the size of the board of directors, the independence of the board of commissioners and the presence of audit and risk management committees. Meanwhile, the ownership structures examined in this study are institutional ownership and managerial ownership. The data were obtained through the content analysis of firms’ annual and sustainability reports. This research uses secondary data from the firms' websites and the Indonesia Stock Exchange (IDX) website. The data were then analyzed further using multiple regression analysis. The results show that only the risk management committee positively affects IR disclosure. At the same time, other independent variables do not affect IR disclosure. All control variables positively affect IR disclosure. This study adds to the literature by demonstrating that the risk management committee, firm size, profitability and leverage influence the extent of integrated reporting disclosure. This research contributes to corporations by illustrating that a risk management committee can enhance the importance of IR disclosure in Indonesia.

The Effect of Managerial Ownership and Institutional Ownership on Company Value in Mining Companies Listed on the Indonesia Stock Exchange

This study aims to examine the influence of managerial ownership and institutional ownership on company value as an intervening variable in mining companies listed on the Indonesia Stock Exchange. The data used is secondary data obtained from the annual reports of mining companies listed on the Indonesia Stock Exchange for the 2019-2022 period. The analysis method used is multiple linear regression with the help of SPSS software. The results of the study show that managerial ownership has a significant positive effect on the company's value. Likewise, institutional ownership has a significant positive effect on the value of the company. As an intervening variable, it has also been proven to affect the relationship between managerial ownership, institutional ownership, and company value. The Adjusted R Square in this study is 0.309, which means that 30.9% of the variation in the value of the company can be explained by the variables of managerial ownership and institutional ownership, while the remaining 69.1% is explained by other factors that were not studied in this study.

Analysis of the Effect of Good Corporate Governance Mechanisms and Financial Performance on the Disclosure of Sustainability Reports with Firm Size as a Moderating Variable in Banking Companies Listed on the Indonesia Stock Exchange 2017-2022

The purpose of this study was to test and analyze the effect of Good Corporate Governance (GCG) and others: managerial ownership, number of Board of Commissioners and Audit Committee, and Financial Performance, which included ROA and ROE on company sustainability in banking sub-sector companies listed on the Indonesia Stock Exchange. In addition, this study also aims to determine whether the firm size can be used as a moderation variable to strengthen or weaken the relationship between good corporate governance (GCG) and the financial performance of the company's sustainability. This research is a type of quantitative research with a descriptive approach. Purposive sampling techniques were used from 47 banking companies in the IDX, and 19 banks were included in the research sample within 6 years of the period. The data used are secondary data and data collection methods, accessed by accessing the IDX's 2017-2022 annual report. The results of this study show that good corporate governance (GCG) has no significant effect on sustainability. The audit committee has no significant effect on sustainability reports. Managerial ownership has a significant effect on sustainability reports, independent commissioners have no significant effect on sustainability reports, the Board of directors has no significant effect on sustainability reports, and financial performance has a significant effect on sustainability reports, where ROA and ROE have a significant effect on sustainability reports. Firm size can moderate the influence of GCG and financial performance with sustainability reports. Keywords: good corporate governance, audit committee, board of commissioners, managerial ownership, financial performance, ROA, ROE, sustainability report, and firm size

The Effect of Ownership Structure on the Going Concern Companies Listed in the Iraqi Stock Exchange

The ability of the economic unit to continue is one of the basic assumptions for preparing financial statements. Therefore, users of these statements need to have a clear image of the unit’s performance and financial situation and to ensure that there is no indicator warning of financial distress. For example, there is a conflict of interest between the unit’s shareholders on the one hand and the management on the other hand. Therefore, this research seeks to study the effect of the difference in the nature of the ownership structure on the going concern of economic units. The research is based on the hypothesis that each type of ownership structure has a negative impact on the going concern unit. The research selected five economic units listed on the Iraqi Stock Exchange from the service sector as a sample for the research. Data is collected for the period extending from 2011-2021. The research used the survey method to measure the ownership structure and applied a Kida Model to measure going concern. The most significant results of the research are a negative effect of institutional ownership, concentrated ownership, and management ownership on the going concern of the unit, In contrast, the effect is positive for both government ownership and family ownership, and foreign ownership has no effect. Paper type: Research paper

Mixed methods process evaluation of an advance care planning intervention among nursing home staff.

We developed the ACP+ intervention to support nursing home staff with implementation of advance care planning. While ACP+ was found to improve staff's self-efficacy, it did not change their knowledge about advance care planning. To describe the level of implementation, mechanisms of impact, and contextual factors. Process evaluation embedded in a cluster randomized controlled trial in nursing homes (NCT03521206). Throughout and immediately following the 8-month ACP+ implementation, we collected weekly diaries, post-training surveys, attendance records, facility data, and conducted interviews (n = 32). We applied descriptive statistics and thematic analysis. Management, staff, and ACP+ trainers in seven intervention homes. Although most participants reported they valued ACP+, 33% of eligible staff across nursing homes attended training (range: 6%-69%) and only a few reported they felt ready to engage in actual care planning conversations. Half of all nursing homes adapted parts of the intervention (e.g., more/fewer/shortened training; assigning a coordinating role for practical management). Enough time to consolidate skills, and management support were key for staff engagement in advance care planning, and limited time and staff shortages were significant barriers. Staff reported increased awareness of the importance of advance care planning and felt there was a more systematic way of organizing advance care planning. There was limited staff engagement. Management ownership, clear roles, and collaborative practices may enhance nursing home advance care planning. Accessible and ongoing training for all staff, and ample practical learning opportunities are needed.

The effect of managerial ownership and capital structure on stock returns with dividend policy as an intervening variable

The objective of this study is to gather empirical data regarding the impact of management ownership and capital structure on stock returns, with dividend policy acting as an intervening factor. This study employs quantitative methodologies. The study focuses on the consumer products industrial sector listed on the Indonesia Stock Exchange for the period of 2020-2021. A subset of 25 organizations was chosen using the Purposive sampling approach, which adheres to specific criteria. This study demonstrates that the ownership of insiders has an impact on the structure of capital and, consequently, on the policy regarding the distribution of dividends. Stock returns are influenced by managerial ownership and dividend policy, but capital structure does not have an impact on stock returns. Furthermore, the outcome of the Sobel test demonstrates that dividend policy does not have the capability to moderate the impact of managerial ownership and capital structure on stock returns.

How ESG enhances corporate competitiveness: Mechanisms and Evidence

This paper uses data from Chinese A-share listed companies (2007∼2021) to investigate the impact of ESG performance on corporate competitiveness and its mechanism. Using a fixed-effects model, this paper finds that ESG performance significantly enhances corporate competitiveness. ESG exerts its influence by reducing financing constraints, enhancing corporate reputation, reducing agency conflicts, and promoting innovation. Heterogeneity analysis finds that firm size, financing convenience, local fiscal spending on science, and management ownership moderate this effect. This study enriches research on the drivers of corporate competitiveness and provides empirical support for long-term value investing in ESG in emerging markets.

Influencing factors on sustainability reporting quality based on sustainable development goals (SDGS) considering COVID-19

In 2020, the major companies in the Asia Pacific region faced challenges in sustainability performance reporting, primarily attributed to disruptions caused by the COVID-19 pandemic. This crisis compelled companies to reassess their sustainability goals. This study aims to analyze the relationship between corporate governance and corporate characteristics such as industry type and government ownership of sustainability reporting quality based on sustainable development goals (SDGs) with a population of 200 companies in ASEAN countries, including Indonesia, Malaysia, Thailand, and the Philippines, listed on each country’s stock exchange. The research sample consisted of 84 companies selected through purposive sampling. The hypothesis testing model employed a multiple linear regression method and utilized the panel data regression analysis approach. The findings indicate that the three corporate governance components examined in this research board independence, audit committee, and managerial ownership, along with government ownership do not exert a significant influence on sustainability reporting quality based on the seventeen SDGs goals. Furthermore, we believe that this research is very important to be carried out in Indonesia, given that environmentally sensitive industries face the risk of environmental damage and therefore need legitimacy to maintain their operations, demonstrated through sustainability report reporting.

Individual Buffalo Identification Through Muzzle Dermatoglyphics Images using Deep Learning Approaches

Animal identification is essential for routine farm operations, residue traceback, insurance, and ownership management. Owing to their uniqueness, incorrigible nature, tamperproof over time, environment-friendly, and pain-free, visual biometrics-based animal identification has recently gained momentum over traditional animal identification methods. Among visual biometrics-based cues, muzzle identification is a simple and relatively low-cost method. Therefore, to address the inherent significant limitations of conventional animal identification systems, we undertook this investigation to collect a database of digital images of muzzles that works as a benchmark, to apply deep learning frameworks to identify individual buffaloes from their muzzle images, and to compare their accuracy in terms of their identification capabilities. Muzzle images of 198 Surti buffaloes were subjected to transfer learning and fine-tuning processes in deep-learning neural networks. The performance was recorded for each pre-train model (ResNet50, InceptionV3, VGG16, AlexNet) with different hyperparameters of the epoch, batch size, and learning rate. A perusal of the data revealed that ResNet50 has the highest train accuracy (99.8%) and test accuracy (99.69%) among all four models used. AlexNet has the lowest train accuracy (90.8%) among the models. The findings concluded that all these four models could be applied to identify individual buffaloes; however, ResNet50 had the highest accuracy, and deep learning applications have great potential for individual buffalo identification and are promising tools for precision livestock farming

NFTs for accessing, monetizing, and teleporting digital twins and digital artifacts in the metaverse

Digital twins and digital artifacts have become integral components of metaverse platforms, providing users with a rich, immersive, and interactive digital experience through the deployment of diverse digital twins and digital artifacts such as 3D avatars, images, and objects. To date, a significant challenge persists in the lack of practical mechanisms to enable seamless teleportation and cross-metaverse interoperability for these digital twins and digital artifacts. There is also a lack of trusted monetization methods that facilitate trading and leasing of digital twins and digital artifacts. To address these important challenges, this paper proposes a blockchain and Non-Fungible Token (NFT)-based solution that facilitates the integration and teleportation of these digital twins and digital artifacts by providing trusted metadata, verifying ownership, and ensuring the authenticity of digital creations in the virtual world. Key to our solution is the introduction of a bridging mechanism that enables cross-metaverse interoperability, allowing for the portable transfer of NFTs across decentralized metaverse platforms. In addition, our solution focuses on empowering original digital creators by enabling the monetization of their creations through the ownership management capabilities offered by NFTs. To reliably and securely store the metadata and content of tokenized digital twins and digital artifacts, we integrate into our solution the Interplanetary File System (IPFS), a decentralized storage system. To demonstrate the feasibility of our solution, we have developed and deployed all necessary smart contracts that govern the main functionalities and interactions of the proposed system on the Ethereum Goerli Testnet. We present our proposed system architecture, accompanied by informative sequence diagrams, algorithms, and testing details. We discuss how our proposed solution attains the main objectives outlined in the paper. We evaluate our proposed solution in terms of cost and security. We have made the complete source code of our smart contracts publicly available on GitHub.

Faktor yang Memengaruhi Prinsip Konservatisme Akuntansi di Perusahaan yang Terdaftar di Bursa Efek Indonesia

Financial reports are guidelines used by various parties in making decisions. However, based on the survey, there are several companies that manipulate financial reports for both personal and company interests. One of the things that can cause financial reports to not be in accordance with the actual situation is the accounting method used, such as the application of accounting conservatism. This research was conducted to test the influence of the independent variables consisting of profitability, leverage, financial distress, and managerial ownership on the dependent variable, namely accounting conservatism. The population of this research consists of 305 data from financial sector companies listed on the Indonesia Stock Exchange from 2020 to 2022. Using purposive sampling techniques, only 87 data meet the research sample criteria and will be analyzed in this research. The research uses a multiple linear regression analysis method which aims to test the influence of more than one independent variable on one dependent variable. The results of this research are that profitability, leverage, financial distress, and managerial ownership simultanously influence accounting conservatism. Profitability, financial distress and leverage partially have no effect on accounting conservatism. Meanwhile, managerial ownership partially influences accounting conservatism.

PENGARUH KINERJA KEUANGAN DAN KEPEMILIKAN MANAJERIALTERHADAP MANAJEMEN LABA DIINTERVENING ASIMETRI INFORMASI

Earnings management is an activity carried out by management by interfering in the preparation of a company's financial statements for the benefit of the company or individuals. The practice of earnings management can be detected using the financial performance approach, managerial ownership, and information asymmetry. This study aims to examine the effect of managerial ownership, information asymmetry, and profitability on earnings management carried out by companies. This study took the research population from financial sector companies listed on the Indonesia Stock Exchange for the 2019-2021 period. The type of data used in this study is secondary data in the form of company financial reports that are used as samples. The research method used in this study is a quantitative research method. The sample was selected using the purposive sampling method. For hypothesis testing, this study uses multiple linear regression analysis. Based on the expected research results in this study are: (1) Financial performance has a significant effect on earnings management; (2) Managerial ownership does not have a significant effect on earnings management; (3) Financial performance has a significant effect on information asymmetry; (4) Managerial ownership does not have a significant effect on information asymmetry; (5) Information asymmetry has an effect on earnings management; (6) Financial performance has an indirect effect on earnings management practices mediated by information asymmetry; (7) Managerial ownership has an indirect effect on earnings management practices mediated by information asymmetry

The Impact of Inclusion in the MSCI EM Index on Firms' Investment Efficiency：Evidence from China

This paper investigates the impact of A-share inclusion in the MSCI index on corporate investment efficiency. Using the inclusion of A-shares in the MSCI index on June 1, 2018 as a quasi-natural experiment, the results of the PSM-DID model show that the inclusion of A-shares in the MSCI index significantly reduces corporate investment efficiency. Further analysis reveals that inefficient investment mainly occurs in over-invested firms, non-state-owned firms, and firms audited by Big 4 accounting firms. Firms with low managerial ownership and high degree of surplus management are more likely to overinvest after A-share inclusion in the MSCI index, which leads to a decrease in investment efficiency. Firms with high analyst attention and low equity checks and balances increase their investment after A-share inclusion in the MSCI index, and the influences of decision-making power and control can be the triggers to reduce investment efficiency.

Managerial ownership as a moderator: Effect of debt covenants and firm growth on accounting conservatism

This study aims to provide empirical evidence regarding the effect of debt covenants and company growth on accounting conservatism, with managerial ownership as moderating. The population of this study is State-Owned Enterprises listed on the Indonesia Stock Exchange for the period 2017-2023. The sampling technique used was purposive sampling with a sample of 98 observations. This research analysis technique is based on descriptive statistics, classical assumption tests and Moderated Regression Analysis tests. The results of the study are that debt covenants have no effect on accounting conservatism, company growth has a negative effect on accounting conservatism, and managerial ownership is unable to moderate the effect of debt covenants and company growth on accounting conservatism.

AUDIT FEES DETERMINANTS: THE IMPACT OF FIRM COMPLEXITY, MANAGERIAL OWNERSHIP, AND PARTNER ROTATION

The objective of this study is to understand the impact of firm complexity, managerial ownership, and audit partner rotation on audit fee simultaneous or partial of sector energy for the period of 2018-2022 listed on the Indonesia Stock Exchange. This research uses one of the latest IDX IC sector classifications for research objects, namely the energy sector with the latest year from 2018-2022. A quantitative method was employed in this study, utilizing 22 companies for five years, yielding 110 samples that were used. To determine the sample, in this study a method termed purposive sampling is employed. Methods that are used in this research are data panel regression using the Eviews 12 software application. According to the research's findings the firm complexity, managerial ownership, and audit partner rotation simultaneously affect audit fees in sector energy for the period of 2018-2022. Partially, in sector energy for the period of 2018-2022 the audit fee is positively affected by the complexity of the company; the audit fee is negatively affected by managerial ownership; and the audit fee is unaffected by audit partner rotation.

The Influence of the Board of Commissioners, Board of Directors, Audit Committee, and Managerial Ownership on Financial Performance in Manufacturing Companies in 2020-2022

Proper implementation of Good Corporate Governance (GCG) which has an impact on financial performance. The case of PT Mayora Indah Tbk and PT. Buyung Poetra Sembada, Tbk. Company Not yet fully implement Good Corporate Governance (GCG) with Good And impact on report and performance poor finances. This research aims to Empirically examine the influence of the board of commissioners, board of directors, audit committee, and managerial ownership on financial performance in manufacturing companies in 2020-2022. Study This use method purposive sampling as method sample determination. The sample for this research consisted of 24 companies with 72 sample data. This research uses quantitative data types and secondary data sources. The data collection method uses the documentation method. The data analysis technique uses multiple linear regression analysis. The research results show that the board of commissioners, board of directors, audit committee and managerial ownership have a positive and significant effect on the financial performance of manufacturing companies in 2020-2022. This shows that the more the board of commissioners, board of directors, audit committee and managerial ownership increases, the greater the financial performance of manufacturing companies in 2020-2022. Future researchers are advised to add other independent variables that can influence financial performance, like ownership institutional, structure capital, And intellectual capital disclosure. Besides That, disar can use location study Which different in order to obtain new phenomena and findings, such as the banking, real estate and mining sectors.

Effect of Ownership Structure on Performance of Quoted Financial Firms in Nigeria

This study investigates the relationship between ownership structure and firm performance of quoted Nigerian financial firms in Nigeria. This study employs an Ex post facto research design, utilizing data extracted from annual reports of the financial firms listed on the Nigerian Exchange Group (NGX) between the years 2014 to 2023. The population of interest consists of 48 listed financial firms. Secondary data from the firms' annual reports were collected and analyzed using fixed effect panel regression analysis as specified by Hausman test. The findings reveal significant positive effects of managerial ownership, institutional ownership, and ownership concentration on firm performance. These results align with established theories such as agency theory and stewardship theory, as well as previous empirical studies in the field of corporate governance and ownership structure. The study concludes that increasing managerial ownership can align the interests of managers with shareholders, leading to improved firm performance. Attracting institutional investors who bring expertise, monitoring capabilities, and long-term investment perspectives can also contribute to enhanced firm performance. Furthermore, careful management of ownership concentration can enhance monitoring and decision-making efficiency, align shareholder interests, and reduce agency costs. However, the study finds no significant impact of foreign ownership on firm performance in the Nigerian context. This suggests the need for further research to better understand the specific dynamics and potential implications of foreign ownership in the Nigerian financial industry, considering factors such as regulatory restrictions, cultural differences, and information asymmetry.

Industrial, managemental, and company-size determinants of tax avoidance in the coal mining sector

This study aims to determine whether there is an influence of institutional ownership, independent managerial ownership and company size on tax avoidance in coal sub-sector mining companies listed on the Indonesia Stock Exchange for the period 2017-2022. This study uses quantitative descriptives. The sampling technique used is purposive sampling with a total sample obtained of 8 companies within 6 years so that 48 samples were obtained after the criteria data were taken. The analysis used is panel data analysis using Eviews 9 software. The results of the analysis test state that the variables of institutional ownership, independent managerial ownership, and company size have an influence on tax avoidance simultaneously. Partial testing states that the variables of institutional ownership and independent managerial ownership do not have a positive effect on tax avoidance, while company size affects tax avoidance

Impact of Managerial Ownership on Cost Stickiness : Perspective from Prospector Theory

Impact of Managerial Ownership on Cost Stickiness : Perspective from Prospector Theory