Net Earnings Research Articles

Economic analysis of waste minimisation and energy recovery from spent bleaching earth

The bleaching stage in an edible oil refining process produces large amounts of spent bleaching earth (SBE) which contains high quantities of low-quality residual oil (20–50% w/w). SBE is usually disposed of in landfill, which is expensive, not environmentally friendly, and represents an inefficient use of a potentially useful and valuable by-product. This paper investigated different methods to utilise SBE for energy generation and determined the economic viability of the most promising method to achieve this. Extracting and recovering the oil from SBE using acetone for use as a fuel and regenerating the bleaching earth was the most attractive option because it achieved waste minimisation and energy recovery. In the best operating situation (fully automated, furnace and reboiler not run continuously) this process had net earnings of $213,682 and the payback period was 4 years. Despite this method being an attractive option based on waste minimisation and energy recovery, it was also complicated and had hazardous materials involved. The volumes being processed may not be large enough to make the process economically viable for an individual oil processor. If larger amounts of SBE were being generated or a centralised dedicated facility was built to handle SBE from several facilities, then this process could become more economically viable. In the case of a centralised facility, other considerations such as charging oil processing companies to take their SBE, reselling the regenerated bleaching earth or converting the extracted oil to biodiesel could further improve the economic viability of the process. • Bleaching edible oil produces spent bleaching earth (SBE). • SBE is hazardous but could be utilized as an alternative energy source and regenerated. • This paper investigates the economic feasibility of using SBE for energy. • SBE can be used for energy, the process is not currently economically feasible.

Companies

Net earnings after pre‐tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.

Farming with reduced winter cropping in southern New Zealand: the risks and practicalities

Winter cropping practices to provide feed for livestock are being challenged by new freshwater and animal welfare regulations. Investigations to reduce reliance on winter forage crops in southern New Zealand tested farming resilience and practical on-farm all-grass wintering using 60% of the 13,900 breeding ewes at Mararoa Station in the Te Anau basin. Testing the system robustness over time, using modelling of climatic variation, demonstrated that reducing the area of winter forage crop by 25% increased EBITDA by approximately 6% and had similar variations in net earnings over a 10-year period of pasture and crop yield fluctuations. On-farm testing highlighted the need for long-term planning and active management of both the feed resource and animals. Active engagement and contributions of staff were the key to implementing a Less-crop system. Measuring pastures and animal responses provided data to inform key decision making. The success of this test demonstrated the need for staff engagement and accurate implementation from the management team on the ground. The team needed to be open minded, well planned and have a willingness to implement new practices and learn on the job, providing a platform for future success. Forward planning using Farmax modelling provided a framework for the implementation of the practical test and provided confidence to test future reductions in winter forage crops. Changes to whole-farm practices need to incorporate activities throughout the year to implement significant reductions in winter forage crop use.

Companies

Net earnings after pre‐tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.

Evaluation of Financial Viability of Woodlots and Crops in Coast Region of Kenya

Majority of farmers in the Coast Region of Kenya practice the agri-silviculture farming system as a source of their livelihood and well-being. However, most of them grow trees and agriculture crops on smallholdings that are characterized by a limited resource base calling for the adoption of enterprises with the potential of optimizing production and economic returns. Thus, financial assessments were carried out for both the trees and agriculture crops to establish profitable ones. The study was carried out as a cross-sectional survey using a questionnaire to collect data from smallholder farmers with woodlots and field crops selected using stratified random sampling procedures. The results reveal that woodlots were more profitable at their biological rotation than commonly grown field crops. Woodlots had average annual net earnings of US$364.46 per acre spread uniformly over their biological rotation. On the other hand, annual earnings from highly ranked field crops averaged US$177.39 per acre. It was, therefore recommended that farmers be encouraged to engage in woodlots but inter-crop them with field crops at the initial stages of establishment to help diversify, and optimize their incomes and food self-sufficiency at the farm level. Farmers are also advised to mechanize and use other technologies that minimize labour usage that was observed to be the highest cost component in woodlot establishment.

Companies

Net earnings after pre‐tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.

Prediction and Classification of Financial Criteria of Management Control System in Manufactories Using Deep Interaction Neural Network (DINN) and Machine Learning

The management control system aids administrators in guiding a business toward its organizational plans; as a result, management control is primarily concerned with the execution of the plan and plans. Financial and nonfinancial criteria are used to create management control systems. The financial element focuses on net income, earnings, and other financial metrics. The two components of leadership strategy in this study are cost and differentiation, which highlight the strategy of differentiation in attaining higher quality due to the robust strategy’s attention on a particular area of the company. In this study, we presented a novel method named deep interaction neural network to predict the performance of the manufacturing companies based on their leading competitors using features cost leadership and differentiation strategies. Moreover, the management control system is classified into two financial and nonfinancial factors based on machine learning methods. Based on the results, the presented factors can accurately estimate the company’s performance based on management control criteria with a 93.48% R‐square. Moreover, it can be seen that the DT method is presented with higher classification performance values.

The Rise of (Mega-)Firms with Negative Net Earnings

The Rise of (Mega-)Firms with Negative Net Earnings

Use of ANN model in economies

In this paper, the authors made their contribution by constructing a model for the forecast of average annual net earnings in the EU countries. The model is based on the artificial neural network (ANN) use and for the needs of its creation the authors have presented their proposal for a model entry – economic variables that determine earnings. Generally, implementing an economic policy aimed at preventing stagnation of earnings levels can be achieved by running a sustainable earnings policy and our model can be used as an acceptable tool in the function of keeping that policy.

The Effect of Gender Inequality in Education, Labor Force Participation and Economic Opportunity on the Income Distribution of India

This study analyzes the degree of gender inequality in education, labor force participation, and economic opportunity and its relationship with income distribution in India. The study aims to discern if a negative relationship exists between gender inequality in the multi-dimensional context and income distribution. Certain studies prove that gender wage inequality and income distribution exhibit a positive correlation for export-oriented economies wherein women provide most of the labor for the export sector. However, it is not the same case for gender inequality in the education and labor force. The theoretical model is based on Becker’s net earnings model but adjustments are done to the variables used. Using annual time-series data provided by the World Bank, World Inequality Database, and Human Development Report, the researchers assume that gender inequality in wages, mean and expected years of schooling, and labor force participation rate affects income distribution across the top, middle, and bottom classes in India. In addressing this issue, the purpose of the study is to form policy recommendations to reduce inequalities in gender across India’s education and economic sector.

Effect of ROA (Return On Assets), ROE (Return On Equity), NPM (Net Profit Margin), and EPS (Earning Per Share) on Stock Prices

Property business is currently one of the business prospects whose business characteristics tend to increase every year because land prices tend to increase every year. This research aims to determine whether stock prices can be influenced by the return on assets ratio (ROA), return on equity ratio (ROE), net income ratio (NPM) and earnings per share ratio (EPS). The entire property real estate sector is the population taken in this study, with a criterion sampling technique or purposive sampling so that a sample of 31 companies with observations for 3 years so that a total of 93 observations of financial statements from 31 selected samples are then calculated. research and tabulated and processed with the SPSS version 25 application, with a series of tests to strengthen the results of the hypothesis. In this research, the results of the study conclude that the first is that there is no effect of the return on assets ratio (ROA) on stock prices, secondly there is the effect of the ratio of return on equity (ROE) to stock prices, thirdly there is no effect of the ratio of net income (NPM) on the stock price. stock prices and the effect of earnings per share (EPS) on stock prices studied in the property sector Bura Efek Indonesia 2017 to 2019

Revenue Identification in Attaining Consensus Estimates on Income Predictions: The Function of Ownership Concentration and Managerial Ownership Confirmation from Poland

Financial reliability, along with clearness of business transactions, is one of the mainstays of sustainability. In this research, I investigate whether enterprises expand discretionary revenue when their income before intentional shaping is marginally under the consensus on the income prediction provided by analysts. The innovation of the paper lies in taking into account the role of managerial ownership, ownership concentration, and higher proportions of institutional investors in this situation. Higher ownership concentration and greater percentage of institutional investors in equity were analysed while considering the expropriation hypothesis. In order to assess the concern of managerial ownership for revenue manipulation, I considered the alignment of interest hypothesis. In this research, I certified that enterprises expand discretionary revenue when their revenue and operating income prior to intentional shaping barely miss the consensus forecast. I found that the existence of managerial ownership curtailed the magnitudes of upward discretionary revenue when revenue prior to intentional shaping was marginally below the consensus on revenue. Greater ownership concentration and higher proportions of institutional investors were on the bound of the statistical trend to expand discretionary revenue when net earnings, before intentional shaping, were marginally below analysts’ forecasts.

Companies

Net earnings after pre‐tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.

Energy storage system optimization based on a multi-time scale decomposition-coordination algorithm for wind-ESS systems

Wind power is one of the most important renewable energy sources to build a sustainable power system. Energy storage technologies provide an effective control method for the operation of power systems with high penetration wind power. In existing energy storage system (ESS) optimization methods for wind-ESS systems, different ESS devices are deployed for several typical scenarios separately, including wind output power fluctuation smoothing, power imbalances mitigating, and peak load shaving. But the operational coupling of different ESS devices among these scenarios is usually omitted or simplified improperly. In this paper, the wavelet analysis algorithm was used to obtain three decomposed components of the wind output power with different time scales, and then the decomposition-coordination ESS optimization method was used to solve the constructed corresponding three submodels for different ESS application scenarios. Several coupling variables are designed to coordinate these sub-optimization models with different time scales. In the meantime, the emerging battery ESS has also been discussed in our optimization process based on the battery cost and the net earnings of the whole system to enhance the effectiveness of our proposed optimization method. Compared with traditional ESS deployment methods, our proposed method can reduce the total ESS equivalent investment annual cost by 20% in the selected regional power system in China. Our proposed multi-time scale decomposition-coordination algorithm is suitable for the optimal ESS devices deployment because the coordinated charge–discharge operation of different ESS devices can be inherited taken into consideration for short-term power fluctuation smoothing, power balancing during several hours, and peak load shaving in awhole day.

Earnings Decomposition, Value Relevance and Predictability

Compared with net earnings, the components of earnings are more informative in companies whose components have different qualities of persistence and volatility. We examine the issue of whether net earnings together with their components have more information content than only net earnings. We construct a model to describe the effect of components volatility and their persistence through disaggregation of earnings value relevance and predictability. The analyses in our study are based on 600 firm-year observations in Tehran Stock Exchange (TSE) for the period 2005- 2019. Data are derived from RAHAVARD NOVIN Iranian software and firms' financial statements. The statistical tests for data analyses are the difference of means test (t-test) and regression analyses. The results of the current study indicate that as the persistence and volatility of selected components of earnings (sales, employee expenses, other selling, general and administrative expenses, and income taxes) increase, earnings disaggregation can improve earnings predictability. Furthermore, when the volatility of employee expenses increases, disaggregated earnings can improve earnings value relevance. As the value relevance of net earnings has been declined over the past decades, the results of the current study suggest that earnings disaggregation plays a major role in improving earnings value relevance and their predictability.

Companies

Net earnings after pre‐tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.

The Safety Threshold of Vietnam's Banks During Covid-19

Using the stress test, we measured the Comercial banks' withstand under pressure caused by the outbreak of COVID-19, which led to a freeze of the real estate market, a fall of the stock market, and an increase of non-performing loans (NPLs). The findings show positive and hopeful signs. Even though the real estate and stock markets fell by 40%, resulting in a significant devaluation of the banks' loan collaterals, banks do not need to supplement provisions for credit risk. The high number of NPLs, which lead to increased provisioning, erodes net earnings, reducing the capital adequacy ratio (CAR). Banks can still meet both the 9% minimum CAR requirement and the 3% maximum NPL requirement. The study also identifies the maximum safety threshold of the Vietnamese banking system, which averaged up to a 50% increase in NPLs. Two of the country's top 10 banks are even able to maintain a CAR greater than 9% and an NPL ratio below 3%, although NPLs increase to 450% and 215% compared to these before the shock, respectively.JEL: E50, G21

Beyond Experience and Capital. Is there a Return to Return Migration?

This paper explores the effect of return migration on the performance of Egyptian household firms. A growing body of evidence suggests that return migrants are more likely to become and remain entrepreneurs. The length of the migration spell and the experience and capital accumulated overseas may influence the ability of return migrants to establish and successfully manage their firms. We expand this literature by examining the impact of return migrants on the net earnings of the business units they manage. Our findings suggest that migration alone is not sufficient to enhance the performance of entrepreneurial activities. However, industry-specific human capital accumulated abroad has a significant impact on net earnings.

The Impact of Social Responsibility Performance on the Value Relevance of Financial Data in the Banking Sector: Evidence from Poland

Corporate social responsibility (CSR) is inevitably becoming an increasingly important part of almost every business. This is particularly true for the banking industry, which suffered substantial losses in reputation and public trust in the aftermath of the global financial crisis. Not surprisingly therefore, banks around the world have visibly intensified their CSR efforts. One of the key dimensions of CSR regards the reliability and transparency of a firm’s communication with the market, which suggests that information disclosed by responsible companies may be more value relevant. The related evidence, especially in the banking sector, is however modest and mixed. The paper aims, therefore, at empirical investigation of the impact of social responsibility performance on the value relevance of financial data in the Polish banking sector. The research employs multivariate regression analysis based on the Ohlson model and the Chow test for structural breaks. The examined sample covers 154 bank-year observations of 17 banks listed on the Warsaw Stock Exchange from 2009–2020. The results suggest that financial disclosures of banks included in CSR indices are generally more value relevant. Additionally, more responsible banks exhibit higher (lower) responsiveness of market values to net earnings (book values of equity) compared to their less socially responsible counterparts.

THE IMPACT OF LABOUR MARKET ON MIGRATION PROCESS IN THE CENTRAL AND EASTERN EUROPE

The article presents the results of the study of the main trends of the labor market in Central and Eastern Europe during 2010-2021; it also investigates selected labour market outcomes affecting migration processes in Bulgaria, Czech Republic, Estonia, Latvia, Lithuania, Romania, Poland, Slovak Republic, Slovenia, and Hungary. Using econometric modeling, the impact of GDP per capita, annual net earnings per employee, job vacancy rate, unemployment rate on the number of emigrants from these CEE countries was estimated. It is followed by the analysis which controls for dependence of the number of immigrants to CEE countries on labor market outcomes and GDP per capita. The simulation results demonstrate a direct impact of the indicators of net earnings per worker, the level of unemployment and quantity of emigrants from CEE countries. At the same time, there is a direct relationship between job vacancy rate, net earnings and immigration into Bulgaria, Czech Republic, Estonia, Latvia, Lithuania, Romania, Poland, Slovak Republic, Slovenia, and Hungary.