Public Limited Companies Research Articles

The Impact Of The Diversity Of The Board Of Directors In The Adoption Of Risk Management And Control Practices

The objective of this study is to analyze the incidence of board diversity in the adoption of management practices and risk control of 236 Chilean public limited companies in the period 2015- 2019. For this, a descriptive-correlational study was carried out, considering the diversity of gender, nationality, and age of the board of directors, and the degree of adoption of risk management and control practices proposed by the local regulator. Through a regression analysis between the study variables, it was shown that diversity of gender and nationality has a positive and significant impact on the adoption of risk management and control practices, but not age diversity, which does not have a significant impact on the adoption of risk management and control practices. It was concluded that the boards do not present a tendency towards heterogeneity in their conformation, being composed chiefly of male directors of Chilean nationality and in an age range between 50 and 70 years, leaving evidence of stagnation in the diversity rates of this decision-making body, as well as the low adoption of corporate practices related to risk control and management in companies in the Chilean stock market.

Board of Directors Structuring and Intellectual Capital Disclosure of Public Limited Liability Insurance Companies in Nigeria

This study is about the influence of corporate board structuring on intellectual capital disclosure of the 15 public limited liability insurance companies that trade on the Nigerian Exchange Group, using census sampling technique, with time scope of 10 years (2012-2021). Our research design was Ex-post facto. Secondary data were derived from the published yearly reports of the companies. The study used binary–logistic regression. The logistic regression result revealed that board independence and board size have negative and non-significant effect on intellectual capital disclosure of public limited liability insurance companies in Nigeria, but board financial expertise has a positive but not significant effect on intellectual capital disclosure of public limited liability insurance companies in Nigeria. The study concludes that corporate board structuring has no significant effects on intellectual capital disclosure of public limited liability insurance companies in Nigeria. Based on the conclusion derived from this study, the study recommends that the financial expertise of the board should be harnessed to give her an advantage in value creation through its disclosure of its intellectual capital. Keyword: Corporate Board Structuring, Board Expertise, Board Independence, Board Size, Intellectual Capital Disclosure

Is a PhD an entrance ticket for an executive board?

This article deals with the question of whether many years of academic training can be the foundation for a successful management career. An analysis of all ATX, DAX and SMI-listed companies was carried out and the highest level of education of all executive board members was analysed. Statistical analyses were used to establish the connection between education and the position and function on an executive board. In addition, it was also analysed whether there is a statistical correlation between the composition of the board of directors and gender. There is a relationship between an academic education and the likelihood of being able to pursue a career on an executive board. However, a PhD is not necessarily a guarantee. Currently, gender also has a significant influence on management careers. This article provides an in-depth insight into the main stock indices in the German-speaking world. It should also serve as motivation that a proper academic education is a solid basis for one of the most sought-after jobs in a public limited company.

Principles of Good Corporate Governance in Conflict of Interest Transactions between Public PT and Minority Shareholders

The research entitled Good Corporate Governance Principles in Conflict of Interest Transactions Between Public Limited Companies and Minority Shareholders aims first to know and understand and analyze the arrangements related to the implementation of good corporate governance principles towards minority shareholders. Second, to know, understand and analyze conflict of interest transactions that occur between publicly listed public limited companies and minority shareholders. The research method used in this thesis uses Normative research methods which are library research, namely research on laws and regulations and literature related to the material discussed. Based on the research results, it can be concluded First: the principles of good corporate governance in conflict of interest transactions between publicly listed public limited companies and minority shareholders. Decisions in the GMS made by the majority are not entirely fair to minority shareholders. Conflicts of interest that occur in the Company are often detrimental to the interests of minority shareholders. Second: shareholder protection is still not properly implemented by the board of directors because it violates the principles of fiduciary duty and statutory duty. This can be seen from the violation of the rights of minority shareholders, namely the failure to conduct an assessment, the failure to disclose information and the failure to hold an Independent GMS. On the other hand, OJK through its authority has protected the interests of minority shareholders by imposing administrative fines.

FINANCIAL PERFORMANCE OF FINO PAYMENT BANK

Our Bank was incorporated as ‘Fino Fintech Foundation’ pursuant to a certificate of incorporation dated June 23, 2007, issued by Registrar of Companies, Maharashtra at Mumbai. Pursuant to surrender of our license under section 8 of Companies Act, 2013, our name was changed to ‘Fino Fintech Private Limited’ and a fresh certificate of incorporation dated December 15, 2015 was issued by Registrar of Companies, Maharashtra at Mumbai. Thereafter, pursuant to the conversion of our Bank to a public limited company, the name of our Bank was changed to ‘Fino Fintech Limited’, and a fresh certificate of incorporation dated February 3, 2017 was issued to our Bank by the Registrar of Companies, Maharashtra at Mumbai. Our Promoter, Fino PayTech Limited, was granted an in-principle approval to establish payments bank (“Payments Bank”), by the RBI, pursuant to its letter dated September 7, 2015. Subsequently, our Bank received the final approval of the RBI to carry on the business as a Payments Bank on March 30, 2017. Pursuant to receipt of approval by RBI, the name of our Bank was changed to ‘Fino Payments Bank Limited’ and a fresh certificate of incorporation dated April 4, 2017 was issued by Registrar of Companies, Maharashtra at Mumbai.

Leadership Practices on Performance of Micro Finance Institutions in Rwanda.

This study investigates the influence of leadership practices on the performance of microfinance institutions (MFIs) in Rwanda, a sector crucial for economic development and poverty alleviation. Recognizing that effective leadership is essential for fostering organizational resilience and sustainability, the research aims to identify key leadership styles and their correlation with performance metrics such as profitability, outreach, and client satisfaction. The target population of the study comprised of 200 respondents from 22 MFIs registered as public limited companies and 18 MFIs are registered as non-Umurenge Saccos in Rwanda. Both qualitative and quantitative data was collected through structured questionnaires. The questionnaire was pretested before data collection for validation and reliability. The collected data was coded and analyzed using both quantitative and qualitative methods with the help of descriptive and inferential statistics. The Statistical Package for Social Sciences version 21 was used. Testing of hypotheses was done using analysis of variance. Variance Inflation Factor was used to illustrate the significance of the association between strategic alignments on performance of MFIs in Rwanda. Analyzed data was presented using tables and percentages. The results of the regression analysis indicate a significant positive relationship between leadership practices and the performance of microfinance institutions (MFIs) in Rwanda. The model demonstrated a strong correlation, with an R value of 0.672, suggesting that approximately 67.2% of the variability in MFI performance can be explained by leadership practices, as indicated by the R-squared value of 0.467. This means that leadership practices account for 46.7% of the variance in performance outcomes. The analysis yielded a significant F-statistic of 293.042 (p < 0.001), indicating that the regression model is statistically significant. The unstandardized coefficient for leadership practices (B = 0.620) reveals that for every one-unit increase in leadership practices, performance increases by 0.620 units. The standardized coefficient (Beta = 0.811) further confirms the strong influence of leadership practices on performance, with a t-value of 17.118 (p < 0.001), emphasizing the critical role of effective leadership in enhancing the operational success of MFIs in the region. In conclusion, this study highlights the significant impact of leadership practices on the performance of microfinance institutions in Rwanda, emphasizing that effective leadership can enhance organizational effectiveness and contribute to financial inclusion efforts. It is recommended that MFIs invest in leadership development programs that cultivate transformational and participative leadership styles to improve overall performance. Future research should explore the long-term effects of specific leadership practices on performance outcomes across different contexts and investigate the role of external factors, such as regulatory frameworks and community engagement, in shaping leadership effectiveness within the microfinance sector.

Exploratory Innovation in Family-Owned Firms: The Moderating Role of Digital Search

Family firm research agrees that family involvement in ownership gives rise to idiosyncratic innovation behaviors. However, whether family ownership fosters or hampers innovation is still debated because the distinction among the types of innovation outcomes has been often overlooked. To address this gap, we focus on exploratory innovation intensity as innovation outcome (i.e., the ratio between exploratory innovations and all the innovations developed by a firm) to improve our understanding of the family ownership-innovation relationship. Rooted in socioemotional wealth and social capital theories, our arguments posit that family ownership negatively influences exploratory innovation intensity. Recalling the literature on search and recombination, we further propose that this relationship is positively moderated when family-owned firms rely more heavily on digital, information and communication technologies (ICT) related knowledge components during the innovation process (i.e., on a digital search). A panel data analysis of 504 US public limited companies supports both our hypotheses. This article responds to calls for distinguishing exploitative and exploratory innovation outcomes in family firm research. Furthermore, it adds to the digital innovation research by studying the role of digital search as a contingency factor in the pursuit of exploratory innovations and, relatedly, contributes to the literature on search and recombination by underlying that the ICT domain is a relevant search space where to search knowledge to innovate.

The external organizational environment and its impact on strategic management accounting practices: an empirical investigation

PurposeThis study aims to investigate the impact of organizational external environmental factors on strategic management accounting (SMA) usage in an emerging economy.Design/methodology/approachThe study collected data from 79 public limited companies listed with the Dhaka Stock Exchange (Bangladesh) through a questionnaire survey. Multiple regression analysis is employed to test the impact of external environmental variables such as perceived environmental uncertainty and intensity of competition on SMA usage.FindingsThe study finds a significant positive impact of environmental uncertainty (fluctuation in the external environmental factors) and intensity of competition (domination by few companies) on SMA usage. However, the direction and magnitude of this impact vary considerably for specific groups of SMA practices such as costing, competitor accounting, customer accounting and planning and performance measurement techniques.Originality/valueThis study shows the impact of several facets of environmental uncertainty (i.e. unpredictability, fluctuation, ambiguity, lack of information and uncertainty of the outcome of decision) and intensity of competition (i.e. stressfulness and domination) in the empirical-based SMA research.

Measuring the ownership and control of UK listed firms: Some methodological challenges

While scholars in business, management, accounting and finance frequently use data on the ownership and control structure of companies in their research, we show that determining this structure for a UK public limited company using publicly available information can be fraught with a number of difficulties. The latest changes to the UK Listing rules following the Hill Review (2021) may further exacerbate these difficulties via the potential increase in listed companies with dual-class shares. With the help of case studies and further empirical work, we demonstrate some of the methodological challenges faced by researchers. We provide guidance on how to tackle these challenges.

Aggregate insider trading and stock market volatility in the UK

This paper examines the relationship between aggregate insider trading (AIT) and stock market volatility using monthly data on insider transactions by UK executives in public limited companies for the period January 2002 - December 2020. More specifically, a Vector Autoregression (VAR) model is estimated, and impulse response analysis is carried out. The main finding is that higher AIT (more specifically, insider purchases) leads to a short-run increase in stock market volatility; this can be attributed to a combination of insiders manipulating the timing and content of the information they release and the revelation of new economy-wide information to the market. The UK being a well-regulated market, it is plausible that the main driver of the increase in stock market volatility should be the information effect. These results are shown to be robust to using alternative (direct) measures of AIT.

The Determinants of Implementing and Completing Share Repurchases

Open-market repurchase is a popular corporate payout method that public limited company (PLCs) use, and once they have made this decision an announcement is made. However, the announcement does not necessarily mean that the firm will implement the payout, or if it is initiated that they will buy back the entire announced volume of shares. Thus, using a sample of firms listed on the London Stock Exchange that announced an open-market repurchase between 1993 and 2014, we test the determinants of repurchase implementation using probit regressions, and if their influence also extends to the payout’s completion using Tobit regressions. The results are not identical in nature, but largely indicate a consistency between the influence patterns. Positive influences are exhibited by firm leverage, the balance sheet’s asset base, independent directors and the repurchase’s tax efficiency over dividends. Additionally, the volume of shares announced for repurchasing has a positive influence on the payout’s implementation, but not its completion, while market capitalisation has a positive influence on the payout’s completion, but not its implementation. The findings are most useful for financial practitioners to optimise their portfolio following a repurchase announcement.

Effective communication as a moderating factor in international business crisis management

This study investigated the moderation role of effective communication in handling crises in multinational businesses as an innovation tool. The study utilized a sample of 315 participants from different public limited companies in Greece. The results showed that proactive crisis communication approaches have a positive influence on crisis handling in multinational businesses. It was revealed that there is a significant relationship between reactive crisis communication techniques and crisis handling in multinational businesses. In order for innovation to be successful, the commercial benefits must be effectively communicated. However, the innovation process requires different strategies of communication to be effective. Businesses that are aware of the many elements of the innovation process may concentrate their communication efforts for the best results in organisational innovation. Concept development and mobilisation, idea screening and advocacy, and idea testing are all stages where effective communication is crucial. Organizations must take into account the different trends of innovation when addressing crises in multinational businesses. Communication in businesses ought to be based on new innovative ideas. Additionally, fostering a culture of openness and cooperation can help with communication at all stages of the innovation process.

A Study on Customers’ Perception Towards Life Insurance Corporation Products with Reference to Chennai City

Purpose: The objective of this study is to assess the level of customer perception towards Life Insurance Corporation in the city of Chennai. The study aims to identify the factors influencing customers' decision-making process in selecting life insurance products. Theoretical Framework: Life insurance is a crucial aspect of financial planning, providing protection to individuals and their families against unforeseen events such as accidental death or disability. In the current scenario, there are numerous insurance companies offering life insurance products, with public limited companies being the preferred choice for investment due to their ability to safeguard both the amount invested and the policyholder's life. Insurance companies play a vital role in promoting the well-being of individuals by offering protection against life risks. Design/Methodology/Approach: The data for this study was collected using a well-structured questionnaire and statistical techniques such as descriptive and percentage analyses were used to analyze the data. Findings: The study showed that research finding brings practical value in improving customer perception in Chennai. The Article identifies the key elements to enhance the customer perception. Research, Practical & Social implications: The study has fused the theory of service quality and customer perception. In addition, the study has systematized the relationship between the factors measuring the service quality of life insurance and customer satisfaction. Originality/value: The paper's originality and value assist policy providers to regulate and weigh the measure they have been using and adjust into a set of observed variables measuring the customers’ perception of Life Insurance Corporation in Chennai. This study provides new roadmap to a future study on customer Perception towards life insurance Corporation, a document for other research in the life insurance field.

MS. SHIVANI GUPTA & ORS. v. SEBI Civil Appeal No.7054/ 7590 of 2021 Date of Judgment: 19/04/22

This an appeal decided by a Bench of Hon’ble JJ. Vineet Saran & Aniruddha Bose at Supreme Court of India against a judgement and order of Securities Appellate Tribunal (hereinafter “SAT”].This case relates to insider trading of securities in a matter of renowned body corporate PC jewellers Ltd. The matter of Insider trading in securities is so sensitive and serious issue in corporate affairs that it carries criminal liability under Companies Act, 20131 as well as Securities Exchange Board Act, 1992. Actually the legislative objectives behind restricting, prohibiting and regulating ‘insider trading’ is that the public money invested in the securities of public limited companies may not be put at risk by the promoters and management of Companies. The simple idea of securities insider trading is that people engaged with the management of the companies’ affairs may not be allowed to manipulate the selling-purchasing of different types of shares, stocks or debenture securities by causing artificial prices’ ups and down in the security market.

TRANSFORMATIONAL LEADERSHIP AFFECTING ORGANIZATIONAL EFFICIENCY: A CASE STUDY OF PUBLIC LIMITED COMPANIES

This paper aimed to analyze the effect of transformational leadership on organizational efficiency of public limited companies in Bangkok. Data were collected from 310 participants who were administrators and employees working in fivepublic limited companies in Bangkok and suburban areas. The research questionnaire was used as an instrument to collect data. Descriptive statistics consisting of percentage, mean and standard deviation, and inferential statistics consisting of Pearson Correlation, and Multiple Regression Analysis were used to analyze the collected data. The research results showed that transformational leadership of public limited companies in Bangkok, in total, was perceived at high level. In particular, inspirational motivation had the highest mean value, followed by idealized influence, intellectual stimulation, and individualized consideration respectively. Organizational efficiency of public limited companies in Bangkok, in total, was perceived at high level. In particular, cost had the highest mean value, followed by quality, quantity and time respectively. Transformational leadership was positively related to organizational efficiency of public limited companies in Bangkok, which the highest correlation was a relationship between intellectual stimulation and organizational efficiency. Transformational leadership has an effect on organizational efficiency of public limited companies in Bangkok. In particular, intellectual stimulation had the highest effect on organizational efficiency of public limited companies in Bangkok, followed by idealized influence, inspirational motivation, and idealized consideration. The recommendations from this study were that the characteristics of transformational leadership are very much important and should be improved and cultivated in order to guide, motivate and inspire employees to work for the success and growth of the organization.

Sales and Marketing of Bajaj Automobiles

BAJAJ Brand serves as the visual representation of our ideas and deeds. It communicates to everyone our aim to consistently instill confidence. The key audience for our brand is our consumers. In fact, their faith in Bajaj has had just as big of an impact on our brand identity as has our own vision. Every action we take serves to further the strength and distinctiveness of our brand. We achieve this by living out our brand essence and always looking for ways to improve the experience of our consumers. Our brand's essence captures Bajaj's objective. It is the lone embodiment of our company's commitment to its clients. It offers the foundation for wegrow to operate effectively in the market. blending in and meeting our clients' unspoken expectations. By contesting the established. By venturing into the unknown, we push ourselves towards the future. With the help of a technological partnership with Japanese company Kawasaki Heavy Industries, Bajaj Auto is able to manufacture a variety of cutting-edge two-wheelers in India. Upon becoming a public limited company in 1960, Bajaj Auto Limited was then divided into three corporate divisions in 2008:

A study of DuPont model: its application and identification of key determinants for public limited companies

A study of DuPont model: its application and identification of key determinants for public limited companies

Financial Performance of KSE Ltd Irinjalakuda with Special Reference to Liquidity Position

In 1976, KSE LTD entered the cattle feed industry, setting up new plant manufacturing ready mixed cattle feed. The last 3 decades have seen KSE LTD emerging as leader in ready mixed cattle feed in the country. Today KSE LTD commands the resources, expertise and infrastructure of manufacture arrange of livestock feed in high volumes, driven by a commitment to high quality. On the road to success, there were many hurdles. Initially, the mobilization of capital posed the greatest challenge. The future looked grim. But determination and optimism paid off. Thus on 25 September 1963 the Kerala Solvent Extraction Limited was registered as a public limited company.

SMEs and dividend payout policy in case of poor legal environment

ABSTRACT This article investigates the dividend informational content hypothesis, showing how managers react to a poor legal environment through positive and credible messages to investors. We analyze private and public limited companies between 2015 and 2019, exploring the relation between their dividend payout policies and the courts’ ability to enforce creditor rights in case of insolvency. Based on our results, we can observe a positive relation between judicial delay and the SMEs’ decisions on dividend payouts, meaning that as the inefficiency of courts increases, small businesses are ever more likely to pay out dividends so that they can send a positive message to the local capital market. On the other hand, our results cannot confirm the same relation for public limited companies, which operate n the global capital market, highlighting the key role of local ties.

Determinants of idiosyncratic risk: evidence from BRICS countries

PurposeThis study examines the determinants of idiosyncratic risk (IR) or unsystematic risk. The study also examines the determinants of IR by dividing the firms into different categories: beta-based firms, liquid and illiquid firms and financially constrained (FC) and unconstrained (FUC) firms.Design/methodology/approachThe fixed effects static panel data model specifications are formulated based on Hausman (1978) test for BRICS (Brazil, Russia, India, China, and South Africa) member countries over the period 2000–2019. Moreover, the t-test is applied to see whether the returns of different types of portfolios are significantly different.FindingsThe portfolio analysis results show that, on average, high IR firms tend to be small in size, highly leveraged, have low competitiveness, low profitability, less dividend yield and low returns for all the sampled countries. The sample paired t-test also confirms that a significant difference exists between extreme portfolios: small and large size and low IR and high IR portfolios. The panel regression results show that firm size, market power, price-to-earnings ratio, return on equity (ROE) and dividend yield negatively relates to IR. Yet, both leverage and liquidity are positively related to IR. However, the sign of momentum returns is mostly positive for the entire sample. The coefficient values for high-beta, FC and illiquid firms are more significant and large than the firms' counterparts for all BRICS member countries. These results support the hypothesis of an under-diversified portfolio and suggest that the above-mentioned firm-specific variables are the significant determinants of unsystematic risk.Practical implicationsThe securities exchange commission, as the supervisor of the public limited companies, needs to increase its role in investor protection related to the uncertainty of investment in the capital market. Accordingly, in making investment decisions in a stock exchange, investors can use the information that captures unsystematic risk for investment decision-making.Originality/valueThis study is the first to explore the determinants of IR in top emerging countries. Second, none of the existing studies has focused on the determinants of the IR based on different categories of firms.