Shareholders Of Companies Research Articles

SINYAL KUALITAS LABA DARI KEBIJAKAN DIVIDEN PADA ASEAN ASSET CLASS PUBLICLY LISTED COMPANIES

This research has aims to prove the effect of dividend payments on the quality of the company's earnings and it’s impact on the predictability of the company's cash flows in the future future empirically. Population in research these are some companies in the region ASEAN which is included in the list of ASEAN Asset Class Publicly Listed Companies. Research methods use the associative method to see the relationship between the existing variables. Results of This research will show that the company who have paid dividends consistently proven will have better earnings quality than companies that do not pay dividends to company shareholders. As well company size can affect the quality the company's profit shows that the amount of coefficient of firm size is positive and significant to the two proxies of earnings quality used in research, namely ADA and AAQ. So it can be concluded that the size larger companies will present higher earnings quality. While results testing of other variables shows company growth and sales growth the company has no significant effect on the quality of earnings owned by a company.

On the Legal Person Personality Denial System

Company personality independence and shareholders limited liability is the basic principles of the company law, legal person personality denial system is the company personality independence and shareholders limited liability exceptions, legal person personality denial system stipulates the abuse of company legal person independent status and shareholders limited liability shareholders bear joint and several liability for the company’s debt, the responsibility of the system does not involve the actual control of the company. But in reality, no matter what the size or nature of the company, the emergence of the actual controllers is always inevitable and commonplace. The actual controller of the company is not a shareholder of the company in small and medium-sized enterprises, but they often use their dominant position to abuse the independent status of the company and infringe the interests of creditors. Usually, the practice is to control the company through other shareholders in the form of capital contribution or manipulate the company in other ways. In view of the prominent problem that the actual controller abusing the independent status of legal person infringes on the interests of creditors in practice, it is necessary to summarize the judicial practice experience to strengthen the responsibility of the actual controller. Whether the legal personality denial system as the basis of the judgment is applicable to the actual controller is worth thinking and studying.

The Impact of M&As on Shareholders’ Wealth: Evidence from Greece

This study aims to investigate the effect of mergers and acquisitions (M&A) on shareholders’ wealth. Additionally, this study investigates the impact of the economic crisis during 2007–2008 on the shareholders’ perceptions of gaining additional value from mergers and acquisitions. In this paper, a sample of 84 M&As from 2006 to 2015 in Greece are studied to investigate the effect on shareholders of bidder companies. We find significantly negative abnormal returns just before the announcement of M&A, which negatively affects the bidder firms’ value. It is also observed that after 2009 M&A cases decreased, maybe because of the crisis in Greece that changed the investors’ perception of a value-destroying event. Companies that engage in M&A activities during economic downturns tend to experience a decline in shareholder value. This could be due to various factors, such as increased uncertainty and risk associated with such activities during economic uncertainty. By understanding the potential impact of such activities on shareholder value, companies can make more informed decisions about whether and when to pursue M&A opportunities.

The Impact of Internal Control and Electronic Disclosure on the Electronic Auditing Risk in the Jordanian Industrial Public Shareholding Companies

Purpose: The aim of this study is to examine the possibility of the risk associated with electronic auditing by identifying the relationships between the various internal control aspects (control activities, control environment, monitoring, information and communications, and electronic disclosure) Theoretical framework: The Jordanian Industrial Public Shareholding Companies as other sectors, apply standards for internal audit that set by experts and electronic auditing using a new electronic technique that may affected by IC and ED. Design/methodology/approach: The descriptive statistics used to describe the electric questionnaire responses of the study sample using SPSS statistical analysis. The study population was made up of the finance department personnel and financial managers of the 45 public shareholding businesses, and 225 companies that were listed on the Amman Stock Exchange up until the end of December 2021. Findings: The results show that in Jordanian public shareholding businesses, risk assessment with its aspects (internal control and electronic disclosure) had a statistically significant influence on reducing audit risk in their dimensions (control risk, inherent risk, and discovery risk). In addition, the study determined that electronic disclosure had a statistically significant impact on lowering audit risk in Jordanian public shareholding corporations. Research, Practical & Social implications: The implications for Practice of the adoption of electronic systems will raise the risks to the confidentiality and reliability of accounting data. This is the purpose of electronic auditing, since it decreases the possibility of misrepresentation and manipulation of accounting data provided electronically. Further study can involve many countries in the region so as the conducted results can be widespread and globalized. Originality/value: The study among the first highlighted the impact of internal control and electronic disclosure for the risk associated with the electronic auditing in the Jordanian Industrial Public Shareholding Companies.

Infusion of ICT into Nigeria's Corporate Democracy: A Proposal for a New Reform Initiative

AbstractThis article examines the infusion of information communication technology (ICT) into Nigeria's new company legislation to promote corporate democracy. While the initiative is laudable, especially in the age of the COVID-19 pandemic, the article argues that the reform is of limited value, as only private companies are empowered to deploy ICT in the conduct of general meetings. By excluding public companies, the article argues, inter alia, that the reform overlooks the role that ICT could play in addressing the assumed passivity of latent, large groups, which typify the shareholders of public companies. In making a case for inclusive reform, the article examines the reforms already undertaken by some countries in the common law jurisdictions, whose templates on the subject may inform the changes Nigeria needs to effect in her law.

Single Shareholder Company in Africa, America and Australia: A Comparative Analysis

Single Person Companies (SPCs), known as One-Person Companies (OPCs), are a revolutionary concept and a new invention in the field of international company law. This study aims to investigate the meaning of OPC and how it is used in three different continents, namely Africa, America, and Australia, focusing on legal entity, OPC incorporation process, minimum share capital, nominee appointment, and OPC conversion. The researchers used the doctrinal data collection method to study relevant journals, articles, books, papers, and internet sources. When choosing the sample States, the researchers use the Gross Domestic Products (GDPs) as a methodological yardstick. According to the findings, only a natural person may form an OPC in some jurisdictions, such as Caledonia and New Zealand. The ability of both natural and legal persons to incorporate OPC has been made explicit in nations including South Africa, Nigeria, Algeria, and Argentina. The outcome further illustrates that in nations like the USA and Caledonia, only citizens of such nations or individuals who are residents of New Zealand are eligible to incorporate OPC. The minimum share capital for creating an OPC should be reasonable to enable the lower class to establish OPC and fully control the business.

The impact of mergers and acquisitions on shareholders' value: an empirical study of pharmaceutical companies

PurposeThis research investigates the effect of mergers and acquisition (M&A) transactions in the pharmaceutical sector. The study assesses the short-term value creation or destruction for shareholders of pharmaceutical companies involved in M&A activities on the acquiring side.Design/methodology/approachThe empirical analysis is carried out by applying the event study methodology in order to define the cumulative abnormal return for each transaction observed. Then, the correlations between abnormal returns and economic metrics are determined building a multiple regression model. These metrics refers to the acquirer, target or to the deal itself.FindingsEvidence show a short-term value creation for shareholders of pharmaceutical companies involved in M&A transactions on the acquiring side. On the one hand, the analysis suggests a negative correlation between the value creation and the acquiring firm's level of indebtedness. On the other hand, the value creation is positively correlated with target's metrics such as Return on Equity (ROE), Return on Assets (ROA) and Research and Development (R&D) intensity. Value creation is also tied to deal-specific characteristics regarding the cash used in the transaction and the comparative extent of the deal.Practical implicationsThis analysis allows to predict returns around an announcement day considering the described indicators of value creation or destruction. M&As play a key role in the strategy implementation as reaction to exogenous shocks and endogenous needs.Originality/valueThis study enriches the literature of corporate finance applied to the pharmaceutical sector. Indeed, this industry is gaining increasing relevance in the M&A panorama. Thus, the related dynamics need to be assessed considering the uniqueness of the pharmaceutical sector in terms of regulation, stakeholders and social impact.

Kegagalan Penerapan Good Corporate Govermance Pada Bank Syariah

This article aims to examine the Failure of Good Corporate Governance (GCG) Implementation in Islamic Banking in Indonesia. GCG implementation, especially in v, is very important because it can increase company profits and shareholder profits in the long term. By using normative legal methods, this article shows: First; GCG is a concept that emphasizes the importance of the right of users of financial reports to obtain accurate and timely information; and the responsibility of corporate management to provide accurate information and live up to the company's fundamental values. Second; GCG implementation failed in Indonesia. This is because there are still many Islamic banks that are hesitant to fully implement GCG. Third, Indonesia does not need more laws. What is needed is a change in the legal culture that will implement these laws and institutions as they are designed to be used and a commitment in every aspect of professional life to implement GCG.

FEATURES OF THE RIGHTS AND OBLIGATIONS OF SHAREHOLDERS OF COMPANIES (LLC AND JSC)

The article discusses the specifics of the rights and obligations of shareholders in business companies, the search for some problems in the exercise of their rights and ways to overcome them, ways to protect the rights of participants, including judicial protection and a legal mechanism for out-of-court settlement of disagreement between participants. The author discusses the basic rights of shareholders, ways to exercise them, as well as the obligations of shareholders in terms of scientific literature and the doctrine of Uzbek law. The author comes to the conclusion that a shareholder who has not completely contributed to the authorized capital of the company is liable to creditors for the company's debts. He believe that the rights and obligations of the participants should be considered in terms of the organizational and legal form of business entities, as the legislation gives the same rights and obligations to the shareholders of Limited liability companies (LLC) and Additional liability companies (ALC), and they differ from the rights and obligations of shareholders of JSC.

Impact of EU allowances cost on the financial results of Polish power companies

Purpose: The aim of the article is to estimate the impact of the EU Allowances price increase on the financial results and return on investment in the portfolio of shares of four listed power companies, i.e., Enea S.A., Energa S.A., PGE Polska Grupa Energetyczna S.A., and TAURON Polska Energia S.A. Design/methodology/approach: Financial analysis of energy groups. Statistical analysis, a linear regression model with 6 independent variables and the dependent variable, i.e., the return on investment in the portfolio of shares of the analyzed companies. The studies cover the years 2016-2021. Findings: The results of the financial analysis show that the analyzed energy groups did not always could include increased operating costs in the price of energy sold in 2016-2021? The linear regression analysis did not indicate that the decrease in the profitability of investments in the shares of the surveyed companies can be explained by the increase in the prices of EU Allowances. Research limitation/implications: The inability to determine the unequivocal impact of the EU Allowances price increase on the financial results and share prices of the considered companies can be explained by the number of operating segments in the energy groups, the outbreak of the COVID pandemic and negative GDP in 2020, and the "upward rebound" of the economy after the pandemic and high GDP in 2021. Practical implications: The analysis is useful for shareholders of electricity companies and politicians who create regulations concerning the Polish energy policy. The results of the study are useful to all stakeholders of electricity companies. Social influence: The high costs of EU Allowances affect electricity prices for the Polish society and prove very high CO2 emissions when producing electricity in Poland. Originality/value: The conducted financial analysis and regression analysis are one of the first attempts to indicate the impact of the increase in the cost of CO2 emission allowances on the financial results and share prices of Polish energy companies. The article contributes to reducing the research gap existing in Polish literature in this area. Keywords: power companies, EU Emissions Trading System, EU Allowances (EUA), regression analysis. Category of the paper: research paper.

Lexical indicators of profit and loss in Spanish shareholder letters

Through a case, frequency, and collocational study, this work aims to detect linguistic differences between the letters to shareholders of profitable and loss-making companies. In a sample of 50 letters from each group, two lexical categories were analysed, verbs and eventive nouns, using the corpus manager Sketch Engine. The results indicated that verbs and eventive nouns with an absolute frequency of at least five occurrences overlap in both corpora by 95.7 per cent and 95.8 per cent, respectively. The frequency analysis showed that those with significantly higher frequency in one corpus denoted events or activities that were to be expected for companies in their group, such as aumentar (‘increase’), crecimiento (‘growth’), or cumplimiento (‘compliance’), in the profitable companies; but terms such as relanzar (‘relaunch’), revalorización (‘revaluation’), or pérdida (‘loss’) in the loss-making companies. The analysis of the combinatorial properties of these verbs and nouns revealed subtle but significant differences between the two groups. In the case of verbs, the choice of the direct object is key, and in the case of nouns, qualifying and adverbial adjectives are crucial, as well as the Theme complements.

Investor Protection Evaluation based on Themes of Corporate Governance Civilization

Protecting the interests of shareholders is considered one of the main pillars of any capital market, which, while increasing the level of financial transparency, prevents the loss of their interests to those in power in companies. Consistency of laws and regulations on the one hand and the effectiveness of the corporate governance system in supervising the financial and legal operations of the company is considered important factor in respecting contracts and supporting the investments of minority and majority shareholders of companies, which makes investors confident in protecting their investments. Governance structural keywords in the corporate governance system can lead to Investor Protection by arranging effective board oversight mechanisms and motivating investors to have confidence in the structures of capital market companies. The purpose of this study is to interpret Investor Protection under the existence of a Governance Civilization based on interpretive prioritization analysis. In this study, theoretical screening based on similar studies was used to identify the components (Investor Protection) and research propositions (themes of corporate governance civilization). Then, in order to determine the reliability of research components and propositions through the participation of 14 experts and experts in the field of accounting and financial management, Delphi analysis was used. In the quantitative part, the components and propositions identified in the form of matrix questionnaires were evaluated by interpretive analysis by 20 managers of the top 50 companies of the Tehran Stock Exchange in 2009. The results showed that the proposition of sociocracy is considered the most influential theme of corporate governance civilization in capital market companies, which strengthens the effectiveness of internal control as a component of protecting the interests of shareholders. This result shows that the theme of sociocracy enables corporate governance mechanisms by promoting the level of sharing and participatory discourses to increase the effectiveness of board oversight, strengthen the weaknesses of internal controls to enhance the effectiveness of control over financial performance, and enrich the capacity to build trust and confidence in the performance of companies.

Roger Lonsdale

Obituarist needed. Email the city of Hull: A wry son has fallen. Carry word north beyond Yorkshire: Alert Barter Books. Light beacons on Eglingham moor And along Alnmouth beach where he flew as a navigator On National Service. Notify London. Divert Dr Burney from his harpsichord To break the drab news. Inform Dr Johnson’s teapot. Ring Yale and Oxford. Hunt Holywell Street high and low. Comb the Music Room. Description: Englishman, pipe-cleaner-thin, In an ever-grey suit, furtively smoking, amused By the Scots at Balliol, still loyal only to Bruce. Yell to Devorgilla. Buzz the Snell Bridge. Wake up those show-offy dons. Tell Gray, Collins, and Goldsmith. Whisper to the buttery staff Who knew his tipple, to the staff of stacked Thorntons bookshop Where once he popped in and bought Burns’s Poems with a poem By Burns in manuscript inside. Let the board of Blackwells wear black And the OUP shop in the High close forever in tribute. Tell tubby Ted Heath; tell tottery Harold Macmillan; Tell Hooray Henry Boris and Hooray Henrietta Ghislaine; Tell all the (im)moral tutees; and take word, too, To Roy Park on the Quinag, to Fiona Stafford, to Nick Hudson out in Vancouver, To Lady Mary Wortley Montagu, Anonymous, and Mehetabel Wright. Tell all the male poets whose Lives he helped sort out And all the women poets he added in nudge after nudge. Tell Inspector Morse and Sergeant Lewis to tear round To Lonsdale College, but arrive too late. Dislodge the Master from the Master’s Lodgings To speak blandly and raise a glass. Tell the British Academy to wail and update its website. Comfort shareholders in tobacco companies. They will feel this loss. They’ll never hear the like of his dry cough again. Put rare-book dealers on standby. Start them salivating. But now because one sunny afternoon I saw him almost weep In Manor Walk; because at High Table He assured me it was alright not to feel at home, Take news of him to Dick Ellmann heading home in his Saab And to Marilyn and David Butler giving my parents a lift in their Mini Metro, So they can tell all the dead, as I tell the living, Something of this man whose Wikipedia entry Is just two lines long, his errors ‘not indecently numerous’. Slow the traffic to ode-speed on the Woodstock and Banbury Roads. Back-up tour buses beside Balliol’s side-wall. Tell them So the story may spread, even if all that’s remembered Is a shadow, a wave, a quick word. Who can tell?

Pembagian Harta Bersama Pada Saham Pendirian Perseroan Terbatas

Divorcement of husband and wife does not necessarily terminate all matters between both divorced parties, there are legal consequences to be considered, one of which is joint property that must be shared. Positive law in Indonesia does not yet fairly regulate distribution of joint assets in shares of Limited Liability Companies in the Decision of the Supreme Court number 80/Pdt.G/2020/PN.JKT.UTR. Following the case above, the author is interested to discuss: (1) How is the distribution of joint assets in shares of the establishment of a limited liability company? (2) What are the Legal Consequences for the Distribution of Joint Assets to Limited Liability Company Shares? This study uses normative research methods. Several conclusions can be drawn from the results and discussion. First, in case the company is established by husband and wife then divorced, one of them must sell their shares to another person within 6 months, if after 6 months the shares have not been transferred to another person, all losses or legal consequences of the company is the responsibility of either husband or wife, and if there is an interested third party, they can apply for the company dissolution to the local District Court. Second, that the assets of a limited liability company established by husband and wife, any losses as long as the shareholder is a sole shareholder, will be the responsibility of the sole shareholder and borne by the assets of the shareholder. As legal protection provided by the law of limited liability company on the legal consequence is that each limited liability company shareholder becomes sole because of the reduction in the company's shareholder, then the law provides a period of 6 months to sell part of its shares to other parties.

Implementation of Corporate Social Responsibility (Compatibility of The Programme with Smes Needs, Smes Capabilities, and Organisations Capabilities)

Corporate Social Responsibility (CSR) emerges as a concept that requires companies not only focus on business profit, or to meet the demands of company shareholders, but also to fulfill the interests of all stakeholders. In Indonesia, implementation of CSR has been regulated by Law Number 40 of 2007 concerning Limited Liability Companies, Article 74, even for State-Owned Enterprises (BUMN). PT. Telkom Jatim as one of BUMN in Indonesia provides CSR to SMEs in Tanggulangin, Sidoarjo. This study aims to describe the compatibility of the CSR programme with SMEs needs, SMEs capabilities, and organisations capabilities of PT. Telkom Jatim for SMEs Tanggulangin, Sidoarjo. This research uses qualitative research methods through in-depth interviews, observation, and documentation. The conclusions obtained from this study are the compatibility of the CSR programme with SME needs, SMEs capabilities, and organisations capabilities to implement CSR of PT. Telkom Jatim in SMEs Tanggulangin, Sidoarjo is appropriate, although there are still things that need to be improved, so that the implementation of the CSR programme PT. Telkom Jatim can meet the expectations of SMEs players and provide positive feedback for the company.

The Mediating Role of Corporate Governance on the Relationship between Accounting Information System and Risk Management: The Case of the Jordanian Industrial Shareholding Companies

the primary aim of this study is to examine the mediating effect of corporate governance on the relationship between accounting information system (AIS) and risk management. The population of the study comprised of the entire Jordanian Industrial Shareholding Companies numbering 54. The study objectives were achieved by developing a questionnaire and distributing copies to the employees of the companies accounting departments. Data gathered was analyzed using SPSS 25.0 tool to test the relationships between AIS, corporate governance and risk management. Based on the findings, corporate governance fully mediated the relationship between AIS and risk management in the context of the Jordanian Industrial Shareholding Companies.

Do sustainable food system innovations foster inclusiveness and social cohesion? A comparative study

IntroductionExisting food systems are not only responsible for severe environmental damage, but also face pressing social challenges, with people having uneven access to safe and healthy food, good working conditions, and political participation. These socio-ethical aspects play a key role in successful food transitions. So far, aspects of social cohesion and inclusiveness within social food innovations have rarely been analyzed in more depth. Many social innovations have emerged over the last few decades, such as land cooperatives, farm leasing models, community-supported agriculture, or citizen shareholder companies. Expectations towards these financing models vary from facilitating more investment in a sustainable and socially responsible agri-food sector and a shift towards more local food to the creation of transparent relationships between food producers and consumers.ObjectivesIt is against this backdrop that this paper compares three different food innovations—citizen shareholder companies, community-supported agriculture, and food co-ops—regarding their inclusiveness, the degree of member involvement, and the quality of experienced connectedness.MethodsEmpirically, this paper draws on quantitative and qualitative data, including an online survey, two focus group discussions, and a broad literature search.ResultsFindings reveal that all food innovations show a rather low level of inclusiveness, although efforts are being made to overcome barriers to access. Food innovations generate social cohesion between different actors along the value-added chain, which is constituted differently in a more service-oriented versus a community-oriented model.DiscussionOverall, these innovations provide key momentum towards the dominant food regime by rewarding producers for sustainable practices, establishing stronger producer–consumer relationships, and motivating consumers to assume shared responsibility. Based on the different approaches adopted, we consider the food innovations as complementary for food system transitions.

Which shareholders are interested in the esG-indicators of the company?

Today Russian companies have a low level of compliance with the principles of sustainable economy, which can be largely determined by a weak interest of some corporate stakeholders to ESG (environmental, social and governance) indicators. It determines therelevanceof studying the individual groups of stakeholders and determine the measure of their interest in ESG-strategy.Thepurposeof this work is to determine which shareholders are most interested in ESG indicators of companies whose securities are traded on the Russian stock market. The research is based on the data from Yahoo Finance and the website of the Sustainalytics, Inc. company as of the end of 2021.Cluster, variance, regression and correlationanalyseswere carried out andmethodsof descriptive statistics were used.Resultsof this work have revealed the presence of the features of ownership structure of Russian companies in comparison with companies of developed countries. The lack of insiders’ interest in corporate ESG characteristics has been confirmed. At the same time, the increase in the share of institutional shareholders leads to decrease in the assessed risk of ESG but its rate is less than the change in the shares of institutional owners. The different importance of individual components of the ESG assessment for institutional shareholders has been noted.Thenoveltyof this research is the study of Russian investors and issuers that have not been systematically studied before as well as the ascertainment of complex influence of insiders/outsiders and institutional/private investors. The scientific significance is determined by the development of a new approach to study the influence of the degree of investor responsibility on corporate characteristics. The practical significance of the results lies in obtaining the possibility of developing targeted incentive tools for company shareholders to increase their interest in corporate ESG-indicators and to increase the sustainability of the company and territories. This research will be of interest to investors, company managers, authorities, non-profit organizations and specialists in the field of ESG investment.

PENGARUH EARNING PER SHARE, ECONOMIC VALUE ADDED DAN MARKET VALUE ADDED TERHADAP RETURN SAHAM

Earnings per share (EPS), economic value added (EVA), and market value added (MVA) in relation to the rate of return of company shareholders in the consumer goods industry sector listed on the Indonesia Stock Exchange is the aim of this research. To find out how a listed Stock Exchange (IDX) will affect things from 2018 to 2020. This study uses a causal quantitative research approach. A total of 42 businesses provided data for the sample used. Documentation study and literature study were used for data collection, and descriptive statistics, classical hypothesis testing, multiple regression analysis, coefficient of determination, and parameter significance test (t-test) were used for data analysis. The research results show that EPS has a small but positive effect on stock returns.

Measuring fossil fuel reserves: A simulation and review of the U.S. Securities and Exchange Commission approach

In its modernization of its reporting requirements, the U.S. Security and Exchange Commission (SEC) defined measures of oil and gas reserves which exaggerated price changes leading to volatile financial reporting of reserves. To predict future prices they defined “current prices” on the basis of a deterministic 12 month rolling average. They defined reserves to be “economically producible” based on a lagging measure, “current prices,” which converted a geophysical measure of fossil fuel formations into a price index of oil and gas prices. A simulation using actual crude oil prices from 2013 to 2021 pits these measures against a proposed measure, the expected economic resource amount, that accounts for uncertain outcomes, probabilistically weights price behavior, and eliminates false signals. Fitting into current SEC reporting procedures, the design provides a flexible platform upon which the SEC can accommodate the changing needs of the energy company stockholders and stakeholders.