Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Results found: 4

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  corporate performance
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
1
Publication available in full text mode
Content available

Non-linear effect of Environmental, Social, and Governance on corporate performance (study in non-financial firms listed on Indonesia Stock Exchange)

100%
Nareswari N., Tarczyńska-Łuniewska M., Bramanti G. W.
Ekonomia Międzynarodowa
|
2022
|
issue 40
154-170
EN
Environmental, Social, and Governance (ESG) factors have become essential considerations for stakeholders. Balancing external and internal performance is crucial. However, there are some constraints to implementing ESG at the corporate level, especially in Indonesia. This study aims to test the effect of ESG on corporate performance. The non-financial firms listed on Indonesia Stock Exchange from 2016–2020 were used as a sample. Empirical evidence found the U-shaped effect of ESG rating on corporate performance. Further, robustness tests are conducted by dividing the sample annually and removing the 2020 period to show more robust evidence. In contrast, the results showed no evidence of a U-shaped effect. The robustness test showed that the ESG rating positively affected corporate performance in 2016–2019 and turned negative in 2020, the first time COVID-19 happened in Indonesia. This result indicated that in a crisis time, implementing ESG will be costly and reflected in financial performance. In contrast, during a non-crisis time, ESG positively impacts financial performance.
2
Content available remote

Industry and size effects in corporate financial ratios: evidence from the EU countries

100%
Koralun-Bereźnicka J.
Nauki o Finansach
|
2012
|
issue 4(13)
29-51
EN
The paper deals with the problem of how firm size and industry impact on the corporate performance reflected in financial ratios. The main aim of the research is to establish the relative importance of the industry and size effect in their influence on corporate performance in the selected European Union countries. It has been shown in a number of studies from this area that small enterprises differ from large ones in many aspects. Corporate diversity has also been observed depending on the industry. However, the majority of the hitherto analyses focuses mainly on corporate results reflected only in their stock returns. This paper is one of the few attempts to compare the intensity with which the industry and size factors affect fundamental financial ratios. The study covers three groups of firms: small, medium and large ones in thirteen industries and in ten EU countries, including Poland in the 1999-2007 period. The variables, i.e. yearly financial ratios of profitability, liquidity and solvency, were computed with the use of the aggregated financial statements published in the European BACH database. The methods employed in the study involve one-way analysis of variance and cluster analysis. The findings provide empirical evidence that, in most of the countries analysed, the industry factors dominate over the size effect. This, in turn, implies that the diversification strategies based on cross-industry sections should prove more effective than those based on cross-size sections.
3
Publication available in full text mode
Content available

The role of foreign-owned entities in building economic resilience in times of crisis: The case of European digital and technologically-intensive firms during the Covid-19 pandemic

88%
Umiński S., Nazarczuk J. M., Borowicz A.
Equilibrium. Quarterly Journal of Economics and Economic Policy
|
2023
|
vol. 18
|
issue 3
751-777
EN
Research background: Over the decades, foreign-owned entities (FOEs) have become an important part of the economic landscape considered as behemoths of globalisation, but also transmitters of positive effects such as technology or know-how spillovers. In times of volatility and uncertainty, firms’ contribution to building a resilient economy is at the top of the public agenda. Purpose of the article: The purpose of the article is two-fold. Firstly, we test, how FOEs perform in this stressful time of volatility and uncertainty. Secondly, we examine the contribution to resilience by digital and technologically intensive sectors.  Methods: The study utilises the Bureau van Dijk (BvD) Orbis firm-level database as a primary data source. The results are derived with the use of two econometric approaches. Firstly, we estimate a static model utilising the ordinary squares estimator. Secondly, we re-estimate the equations using a two-step System GMM estimator. It introduces a lagged dependent variable into the model and implements a correction for endogeneity among covariates by including instruments (in levels and differences). Findings & value added: We use size, age, ownership, gearing, and intangibility as firms’ financial performance determinants, together with the sector-, country- and time-fixed effects. FOEs compared to domestic ones generated a higher revenue growth rate. In times of crisis high-tech and digital firms are more resilient. However, ownership does not matter in this respect. We contribute to the discussion about functions performed by FOEs in crisis and turbulent times, in which resilience issues are on top of the agenda. Our research intends to bridge the gap between the performance of FOEs, micro-level analysis, and resilience.
4

Stakeholder Approach and the Corporate Financial Performance

63%
Blažek L., Částek O.
Review of Economic Perspectives
|
2009
|
vol. 9
|
issue 2
90-106
EN
The following paper aims to describe the analysis and utilization of stakeholder approach, which was used in the research of the Research Centre for Competitiveness of Czech Economy. The stakeholder model was employed in the research to explain the behavior of enterprises and to find factors of competitiveness. Here we can find assessment of stakeholders' importance and its relationship to corporate financial performance with some chosen interfering factors, which is preceding step before assessment all potential factors of competitiveness using multi dimensional analysis. Also the achieved results are related to chosen international and Czech studies.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.