Level Of Ownership Research Articles

Exploring the Challenges and Opportunities of Alternative Finance Products with Indigenous Peoples

ABSTRACT Indigenous peoples often invest in cryptocurrencies and non-fungible tokens (NFTs) despite limited research in this area. We undertook this research to identify the demographics of Indigenous Australians who own cryptocurrencies and/or NFTs and to understand the challenges and opportunities faced. In this paper, we provide an overview of how alternative finance is reportedly used in Indigenous communities globally. Next, we focus on 62 Indigenous Australians who own cryptocurrencies and/or NFTs and participated in our online survey. We found Indigenous Australians who had university degrees, worked full-time, and owned a home had significantly higher levels of NFT ownership. The reported challenges were mostly related to storage, and the opportunities were connected to the potential for cryptocurrencies and/or NFTs as a long-term investment. Implications from this research include a continued need for financial planners to offer advice in this area, as schools were the last place Indigenous Australians learned about these alternative financial products.

The Rising Importance of Stock-Linked Assets in the Black–White Wealth Gap

Studies have examined the racial disparities in household characteristics, homeownership, and familial transfer as primary drivers of the Black–White wealth gap in the United States. This study assesses the importance of stock-linked assets in generating wealth inequality. As financial assets become a growing component of household portfolios, the Black–White wealth gap is increasingly associated with the racial disparity in stock-linked assets. Using data from the Survey of Consumer Finances and the Panel Study of Income Dynamics, this study shows that the contribution of stock-linked assets to the Black–White wealth gap has expanded in both absolute and relative terms, surpassing those of homeownership and business equity. Furthermore, a substantial disparity in financial wealth exists even for otherwise similar Black and White households. Although the disparity is larger among those with more economic resources, a gap remains among those with less. Lastly, our analysis shows that the combination of lower ownership levels and lower returns on financial wealth among Black households could account for a quarter of the Black–White wealth accumulation gap, net of differences in current net worth and household characteristics. Our findings suggest that considering financial assets is critical for understanding contemporary racial wealth inequality.

How the presence of public charging infrastructure can impact the adoption rate of electric vehicles in the UK

In the current work, the presence of public charging facilities and their impact on the adoption rate of Electric Vehicle (EV) are studied across 363 Local Authorities (LA) districts in the UK. This analysis is conducted utilizing the data from the UK government on the location of public electric vehicle chargepoints in various LAs as well as the EV ownership rate between years 2011 and 2021. Various rural, urban and extra urban (e.g. London) regions are analyzed to assess whether EV ownership has been impacted as the charging infrastructure is rolled out in these regions. The quarterly data on the number of licensed Ultra Low Emission Vehicles (ULEV) in each UK local authority is used to track EV ownership levels. The results indicate that the publicly available charging points stimulate the diffusion of EV adoption; however, this varies by region and saturation. The reverse effect of EV ownership on charging infrastructure rollout by Local Authorities cannot be entirely rejected; however, the positive stimulus of public infrastructure on adoption of EV is established. The findings can provide the UK policy makers with insight into the public charging infrastructure requirements and benefits in short to medium term to meet the committed emission reduction targets by 2035 and 2050.

Socialization of Goat and Sheep Reproduction Management in Bulu Cina Village, Indonesia

The purpose of this community service is to train the local community in Bulu Cina Village, Indonesia, on how to analyze the profits of sheep farming businesses. This will help farmers determine their profits at different levels of ownership. By implementing this community service, the knowledge and abilities of the community can be enhanced. The University of Pembangunan Panca Budi and Gugah Nurani Indonesia use a combination of lectures, discussions, and hands-on training to help farmers improve their sheep farming businesses. The program has been successful in helping farmers understand how to analyze profits and calculate their earnings, leading to more streamlined production and increased revenue for the farmers. As a result, several farmers have reported significant improvements in their income.

Training on Calculation Analysis of Sheep Farming Business in Bulu Cina Village, Indonesia

The purpose of this community service is to train the local community in Bulu Cina Village, Indonesia, on how to analyze the profits of sheep farming businesses. This will help farmers determine their profits at different levels of ownership. By implementing this community service, the knowledge and abilities of the community can be enhanced. The University of Pembangunan Panca Budi and Gugah Nurani Indonesia use a combination of lectures, discussions, and hands-on training to help farmers improve their sheep farming businesses. The program has been successful in helping farmers understand how to analyze profits and calculate their earnings, leading to more streamlined production and increased revenue for the farmers. As a result, several farmers have reported significant improvements in their income.

KARAKTERISTIK PETERNAK YANG BERGABUNG DI BADAN USAHA MILIK DESA UNIT PETERNAKAN SAPI POTONG

The phenomenon of national beef supply is still a very interesting polemic to be studied in the world of research. The purpose of this study is to describe the characteristics of farmers who join the BUMDes beef cattle unit. This research was conducted in Bantaeng Regency. The type of research used descriptive research research. The research sample was 30 farmers who were members of the BUMDES beef cattle farming unit which was done by simple randomization. Data were collected through interviews and analyzed using descriptive statistics. The results showed that the characteristics that influenced farmers who joined the BUMDes were based on age, gender, education level, family dependents, farming experience, and number of livestock ownership. The research conclusion is that the characteristics of farmers who join the BUMDES beef cattle farming unit in Bantaeng Regency are at productive age and male, relatively low education level, the number of family dependents of farmers 1-3 people, farming experience between 1 to 3 years with livestock ownership scale ranging from 1-4 beef cattle

The effect of investor attention on stock price crash risk

This study investigations the relationship between investor attention and stock price crash risk in different markets and different levels of natural-person ownership. Google's search volume is primarily employed as a proxy for investor attention. The empirical results show that the higher investor attention, the higher future crash risk, with this effect being more pronounced among firms listed on the over-the-counter market and firms with a high level of natural-person ownership. This study fills the gap in research on the factors affecting stock price crashes from the perspective of investor behavior.

An exploratory look at the role of ownership in initial coin offerings (ICO): Different audiences and ICO success

Initial coin offering (ICO) is a Web-3 based financing method for ventures, which allows them to use digital assets (e.g., tokens) to raise capital. During an ICO, the entrepreneur has control on ownership; they can choose to issue a very small number of tokens which would allow them to keep “their skin in the game” and retain ownership, or issue all the tokens they hold, which would distribute ownership to investors and have a community-decentralized orientation. While previous literature has identified several factors of ICO success, they have not delved into the role of ownership in ICO success. In this study, we explore whether retaining or distributing ownership during an ICO is more beneficial for raising capital. We find a two-pronged explanation. When looking at ICOs maintaining a higher level of ownership, entrepreneurs are catering to corporate-market logic investors, and we see a U relationship where the optimal percentage in which the entrepreneurs show they have skin in the game at the same time as giving enough to investors. But then, there are ICOs distributing most of its ownership in which entrepreneurs are attracting community-oriented investors, and as such, the higher the distribution the higher the investment. We propose that this is related to how there are different investors audiences’ that will value different practices and ideals and choose differently on what types of projects to invest in. Our research elucidates this new funding source. Nonetheless, future research should investigate these exploratory findings.

Utilisation of Insecticide-treated Net and its Associating Factors in the Prevention of Malaria Among Pregnant Women Attending a Nigerian Antenatal Clinic

Background: Malaria in pregnancy is a significant threat to the mother and the unborn child. The World Health Organisation recommends insecticide-treated nets as a long-lasting solution to malaria. Evidence has shown its effectiveness if used. To assess the utilization of insecticide-treated nets in the prevention of malaria among pregnant women attending the antenatal clinic at Adeoyo Maternity Teaching Hospital. Methods: This is a quantitative study using a descriptive research design and a sample size of 333 statistically estimated. Participants are pregnant women attending antenatal clinics selected through a simple random sampling technique. A self-designed structured questionnaire of 37 items initially piloted to ensure reliability was used to elicit responses from the participants. Result: 95.8% of the participants demonstrated knowledge and evidence of ownership of insecticide-treated net. 98.3% also showed a high level of knowledge about malaria and the possible damage it causes during pregnancy. Most of them identified healthcare workers as the major source of this knowledge. Despite this level of knowledge and ownership of insecticide-treated nets, 33% of the participants use them every day. Some of the factors identified by the participants as responsible for this low utilization include discomfort when sleeping under ITN (56%), unavailability of ITN (55%), and heat generated by ITN (70%). Conclusion: The findings from this study suggest a low utilization of insecticide-treated nets among pregnant women despite the effort of healthcare workers in empowering them with knowledge and the net. Most of the factors identified were related to the comfort of using the net. It is therefore recommended that makers of the insecticide-treated net should improve their product by considering the factors that discourage its use. Organisations should provide insecticide-treated nets to pregnant women who may not have had it.

Board Ancestral Diversity and Voluntary Greenhouse Gas Emission Disclosure

AbstractThis paper examines the relationship between board diversity and firms’ decisions to voluntarily disclose information about their greenhouse gas (GHG) emissions. We focus on board ancestral diversity as a relatively new dimension of (deep‐level) board structure and document that it has a positive and statistically significant effect on a firm's scope and quality of voluntary GHG emission disclosure. The effect goes beyond the impact of more common (surface‐level) dimensions of board diversity and remains robust after addressing endogeneity concerns. In line with the theoretical conjecture that diversity enhances a board's advising and monitoring capacity, we find that the impact of diverse boards is stronger in more complex firms and in firms with low levels of institutional ownership. Overall, our findings provide evidence for board diversity being a relevant governance factor in corporate environmental decision making.

Ownership structure and corporate cash holdings in Jordan: the role of government ownership

ABSTRACT Using a dataset of 107 listed firms in Jordan from 2009 to 2018, we employed the generalized method of moments (GMM) to examine the effect of ownership structure on the level of corporate cash holdings. We found that higher government ownership is associated with higher cash holdings. On the other hand, different forms of ownership, namely block holding and individual and foreign ownership, were found to be insignificant. We further examined why firms in Jordan hold cash, concluding that when the level of government ownership rises, firms do not employ cash reserves for investments nor for dividend payments, which in light of governmental political purposes could be a clear indicator of agency problems.

THE EFFECT OF IMPLEMENTING GREEN ACCOUNTING AND CSR DISCLOSURES ON THE QUALITY OF FINANCIAL REPORTING WITH INSTITUTIONAL OWNERSHIP AS A MODERATION VARIABLE

The purpose of this study was to investigate the effects of incorporating green accounting and corporate social responsibility (CSR) disclosure on the quality of financial reporting, with a focus on the energy sector companies listed on the Indonesia Stock Exchange from 2019 to 2021. The researchers collected secondary data from the official website of the Indonesia Stock Exchange (www.idx.co.id) or the company websites using purposive sampling. To analyze the data, the researchers employed panel data regression analysis and moderating regression analysis. The results of the study showed that both green accounting and CSR disclosure had a significant impact on the quality of financial reporting. This suggests that companies that incorporate green accounting practices and disclose their CSR activities tend to have higher-quality financial reports. Furthermore, the study found that institutional ownership played a moderating role in the relationship between CSR disclosure and the quality of financial reporting. Specifically, companies with higher levels of institutional ownership showed a stronger relationship between CSR disclosure and financial reporting quality. This implies that institutional investors, who often have a long-term perspective and a focus on sustainability, may place more importance on CSR disclosure when evaluating the quality of financial reports. However, the study did not find any significant impact of institutional ownership on the relationship between green accounting and the quality of financial reporting. This suggests that institutional ownership does not play a significant role in strengthening the relationship between green accounting practices and financial reporting quality.

Mandatory CSR disclosure, institutional ownership and firm value: Evidence from China

AbstractThis study aims to contribute to the relevant accounting, corporate governance, and corporate social responsibility (CSR) literature by examining the value relevance of mandatory CSR disclosures in China. Using a difference‐in‐differences (DID) research design and a sample based on propensity score matching (PSM) over the period from 2003 to 2020, our findings suggest that mandatory CSR disclosures are negatively associated with firm' values. We also find that firms with a high level of institutional ownership and leverage experience a relatively lower drop in firms' values as a result of the mandatory CSR disclosures. These findings remain robust to alternative sampling design, use of market to book value as an alternative measure of firms' market‐based performance, and a parallel test to validate our DID analysis. Our findings have useful implications for managers, regulators, policy makers and other stakeholders.

Female ownership and female directors’ moderating role as corporate governance monitoring mechanisms in increasing the value of Thai family-owned firms

PurposeThe phenomenon of “broken rungs” has prevented most women from attaining managerial positions relative to men. Despite this gender disparity in management, female executives are more likely to enhance shareholder trust due to higher ethical standards, which can be hypothesized to mitigate the negative impact of family ownership on firm value. Therefore, this study aims to investigate the moderating role of female ownership and female directors in mitigating the unfavorable effects of family ownership on firm value as measured by Tobin’s Q and the Market Value of Equity (MVE).Design/methodology/approachMultiple linear regression is applied to examine the proposed hypotheses, as well as other vital factors, such as board independence (BI), the dual chief executive officer (CEO)–chairman role (CEO duality) and control variables (i.e. firm size, firm age, leverage and investment ratio).FindingsThe results revealed that female directors could buffer the negative impact caused by family ownership, leading to higher firm value, when given a sufficient level of female ownership or the appointment of more female directors, regardless of female ownership levels. Otherwise, female ownership cannot help overcome the negative effects of family ownership in Thai-listed firms. This study also sheds light on corporate governance elements that impact firm value. CEO duality reduces the value of Thai-listed companies, whereas board independence increases firm value.Practical implicationsThe managerial roles for women should be promoted in Thai-listed enterprises. The government can support new laws, policies and programs for embracing a cross-cutting gender perspective. Female network initiatives enable women to advance in their managerial careers.Originality/valueTo the best of the authors’ knowledge, this study intends to fill the research gap by investigating how female directors and owners can moderate family ownership’s influence on the value of firms listed on the Stock Exchange of Thailand (SET), which is one of the emerging capital markets.

Does Promoter Ownership Affect Dividend Policy? An Agency Problem Perspective

In this paper, we show a nonlinear relation between promoter ownership and dividends in the Indian context, that is, promoters pay more dividends at lower level of their ownership while they pay lesser dividends when their ownership increases beyond a threshold. In particular, we find that the adverse impact of promoter ownership on dividends is greater only at higher level of ownership, where promoters become entrenched with their effective control, and outsiders face the greatest risk of expropriation. We contend that agency and information asymmetry problems are the factors driving our results. We establish this by showing that the nonlinear relation between promoter ownership and dividend payment is more pronounced for standalone firms than group affiliated firms, for firms with more free cash flows and for firms with smaller board and less number of independent directors in the board. Our results are robust to endogeneity concerns and testing the dividend payment decision (to pay or not to pay) using the binary choice logit model.

Party direct control and corporate fraud: Evidence from China

This study examines the impact of the involvement of Party committees of the Communist Party of China in the decision-making process of state-owned enterprises (SOEs) in China on fraudulent activities. Based on a sample of 1180 listed SOEs covering the period 2004–2019, we present empirical evidence of a negative relationship between Party direct control and the likelihood of corporate fraud, mainly driven by the effect of Party participation in the board of directors. Additional evidence suggests that Party direct control raises the anticipated costs associated with fraud by facilitating the exposure of fraudulent activities and enhancing the likelihood of CEO dismissal upon the detection of wrongdoing. Furthermore, we observe that the negative association between party direct control and corporate fraud is weakened in firms with robust external monitoring mechanisms and significant levels of state ownership. Additionally, our findings reveal that the deterrent effect of Party direct control on corporate fraud is enhanced following the implementation of the 2015 “Discussion Precedence” reform, which bestowed Party committee members with increased decision-making authority in SOEs.

Measuring stability in Islamic rural banks: The influence of bank concentration and capital

The Islamic Rural Bank, commonly referred to as BPRS in Indonesia, is a vital player in the country's economic landscape, providing limited banking services rooted in Islamic principles. BPRS serves as an economic catalyst across various regions, including both urban and rural areas, thereby shaping the level of concentration, capital ownership, and stability in the financial sector. This study centers its focus on BPRS, a unique financial institution that contributes significantly to the nation's economy. The research, conducted throughout Indonesia in 2020 from the first to the fourth quarter, offers fresh insights into BPRS as a subject of study. By employing quantitative methods, the study endeavors to explore the impact of concentration and capital ownership on the stability of BPRS in Indonesia. Interestingly, the findings in this research suggest that concentration levels don't provide a clear explanation of the relationship between BPRS concentration and stability. On the other hand, BPRS capital ownership is positively and significantly related to stability, indicating that a strong capital base enhances the overall stability of these Islamic rural banks. These results offer valuable insights into the financial dynamics of BPRS in Indonesia, providing essential information for policymakers and stakeholders as BPRS continues to drive the nation's economic development.

Treatment Preferences and Factors Influencing the Management of Primary Angle-Closure Suspect in China: A National Survey Study.

This study explored the current views of ophthalmologists in China on the preferred strategy and the primary influencing factors in managing primary angle-closure suspect (PACS). An online survey was distributed via WeChat to ophthalmologists working in hospitals at all levels throughout China to investigate the optimal management strategy and factors influencing the strategy for treating PACS from February to March 2023. Management strategies examined included regular observation (RO), laser peripheral iridectomy (LPI), and phacoemulsification with intraocular lens implantation (PEI). The study explored the factors that influenced clinical decision-making processes and collected demographic information from the respondents for analysis. A total of 1009 ophthalmologists responded; 442 responders considered RO as a reasonable option for patients with PACS, while the majority opted for more positive treatments, with 460 choosing LPI and 107 selecting PEI. Further grouping analysis revealed significant differences between tertiary and lower-level hospitals (P < 0.01) and between public and private hospitals (P < 0.05). Significant differences were found among resident, attending, and senior doctors and between northern and southern hospitals. The top three considerations for ophthalmologists who selected RO were ultrasound biomicroscopy (UBM) without pupillary block, absence of a family history of glaucoma, and good compliance with regular follow-up. For LPI, the factors were UBM indicating pupillary block, glaucoma symptoms, and poor compliance with regular follow-up. For PEI the factors were age, family history of glaucoma, and poor compliance with regular follow-up. The majority of ophthalmologists prefer aggressive treatments such as LPI or PEI over RO when dealing with patients with PACS. Disparity existed among ophthalmologists based on their level of experience, hospital ownership and level, and geographical location. The survey underscores the complexity and multifactorial nature of PACS management and highlights the need for further research and standardization of treatment protocols to ensure optimal patient outcomes.

BOARD STRUCTURE AND FIRM PERFORMANCE OF FINANCIALLY DISTRESSED COMPANIES: EVIDENCE FROM MALAYSIA

This study aims to investigate the connection between board composition and a company's financial performance. To determine whether board size, board independence, and board gender composition affect a company's financial performance, experiments on board size, board independence, and board gender composition were conducted. Considering the high level of family ownership in Malaysian publicly traded companies, the analysis presents data from a developing market. From 2018 to 2022, a sample of 25 PN17 publicly traded companies in Malaysia served as the basis for the study. A multiple regression analysis revealed that board size and gender composition positively and substantially correlate with financial performance; thus, appointing more female board members will improve the company's financial performance. Therefore, a business justification exists for the Malaysian government's effort to require publicly traded companies to have at least 30 percent female board members. Nonetheless, according to the study's findings, board independence does not affect corporate performance. Therefore, the appointment of independent board members will not affect the economic performance of the companies.

The Determinants of Dividend Policy in the Consumer Goods Industry Listed on the Indonesia Stock Exchange

The purpose of this research is to understand and conduct empirical research to determine whether profitability variables, company size, liquidity, institutional ownership level, and leverage are determinants of dividend policy in consumer goods companies listed on the Indonesia Stock Exchange. This research is conducted due to issues found in previous research results, which indicated that among the explanatory variables, some have a positive, negative, or even no significant impact on dividend policy. The research population consists of all consumer goods companies, totaling 65 companies listed on the Indonesia Stock Exchange. The sampling technique employed is judgment sampling, with 12 companies selected as the sample. The results of the data analysis conclude that among the five explanatory variables, only two determinant variables significantly affect dividend policy, namely profitability and institutional ownership. Among profitability and institutional ownership variables, it turns out that profitability has a greater impact on dividend policy.