• Title/Summary/Keyword: Internal and External Determinants

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The Liquidity of Indian Firms: Empirical Evidence of 2154 Firms

  • AL-HOMAIDI, Eissa A.;TABASH, Mosab I.;AL-AHDAL, Waleed M.;FARHAN, Najib H.S.;KHAN, Samar H.
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.1
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    • pp.19-27
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    • 2020
  • This paper aims to empirically study the determinants of liquidity of Indian listed firms. To account for profit persistence, we apply a (pooled, fixed and random) effect models to a panel of Indian listed firms that covers the time period from 2010 to 2016. This study consists of 2154 firms operating in Indian market. Liquidity (LQD) of Indian firms is measured by liquid assets to total assets, whereas bank size, capital adequacy, profitability, leverage, and firm age are used as internal determinants. Further, economic activity, inflation rate, exchange rate, and interest rate are the external factors considered. The findings reveal that leverage, return on assets, and firm age are the essential internal determinants that impact the liquidity of Indian listed firms. Furthermore, among the internal determinants, the results indicate that firm size, leverage ratio, return on assets ratio, and firm age are found to have a significant positive association with firms' LQD, except leverage ratio and firm age has a negative relationship with firms' LQD. From this result, this article has provides helpful ideas and empirical evidence on the inner and external determinants of the companies mentioned in India is very useful to bankers, analysts, regulators, investors and other stakeholders.

An Empirical Study on the Determinants of Intention to Use B2B e-Marketplace

  • An, Youngsin;Yang, Haesool
    • Journal of the Korea Society of Computer and Information
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    • v.22 no.9
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    • pp.155-161
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    • 2017
  • As the e-marketplace becomes the core of management activities, researches on motivation, transaction type, strategy, satisfaction, risk management, performance evaluation, etc. have been actively studied, but the factors influencing actual utilization have not been fully. Especially, the factors that affect the intention of the users are limited without consideration of internal environment, external environment, e-marketplace characteristics such as operating rules, characteristics of the company to be used. In order to derive the determinants of B2B e-marketplace use, this study was conducted to examine the relationship between internal environment, external environment, e-marketplace characteristics as independent variables, intention of use as dependent variable, participation qualification, The results were as follows. First, the previous study limited the determinants of intention to use to either internal or external, but this study presented an integrated model that considers both factors. Second, the characteristics of companies participating in e-marketplace were identified by using participation qualification and activity scope as control variables.

Determinants of Liquidity of Listed Enterprises: Evidence from Vietnam

  • DANG, Hang Thu
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.11
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    • pp.67-73
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    • 2020
  • The paper examines the influence of internal factors and external factors on liquidity of Vietnamese listed enterprises. The study uses robust regression techniques in the fixed effects linear panel data using data collected from companies listing on the stock market in Vietnam during 2008-2019, with a total of 6,700 observations. Liquidity of Vietnamese listed enterprises is measured by current assets to current liabilities, whereas firm size, capital adequacy, profitability, leverage are used as internal determinants. Further, economic activity, inflation rate, exchange rate, and interest rate are the external factors which are considered. The research results indicate that capital adequacy, return on equity, leverage, economic activity have a positive effect on firm's liquidity, whereas return on assets and exchange rate have a negative effect on firm's liquidity and firm size, inflation rate and lending rate have no correlation with firm's liquidity. Based on the research results, the author suggests that the firms should have optimum current ratio by balancing the current assets and current liabilities in order to avoid a situation of high liquidity or low liquidity. This research seeks to bridge a gap which is present in the body of literature on listed enterprise's liquidity in Vietnam. The findings may be useful for financial managers, investors, and financial management consultants.

The Impact of Corporate Governance on the Quality of Integrated Reporting: International Evidence

  • ELSHANDIDY, Tamer
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.6
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    • pp.127-137
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    • 2022
  • This paper aims to investigate the impact of corporate governance on the quality of integrated reporting. Corporate governance includes internal (board size, board independence, and board diversity) and external (audit quality and enforcement) governance factors. This paper develops an index to capture the quality of integrated reporting by employing the completeness of information required by the International Integrated Reporting Council (IIRC). For an international sample, the paper manually collects 160 integrated reports along with internal and external governance factors and employs multivariate analyses to examine the association between these governance factors and the quality of integrated reporting. The empirical results suggest that firms with a larger board of directors, a larger proportion of female members on board, and located in countries with enforcement for integrated reporting requirements have a higher quality of integrated reporting. Our conclusions still hold after accounting for several conditions, including the industry-fixed and year-fixed effects. Together, these results suggest that both internal and external governance factors are important determinants for the quality of integrating reporting. These results have several theoretical and practical implications as they fulfill the absence of relevant studies on addressing the impact of internal and external corporate governance factors on the quality of integrated reporting.

Internal and External Characteristics of Information Security Officers Affecting Organization's Information Security Performance (조직 정보보호성과에 영향을 미치는 정보보호담당임원의 내·외적 특성)

  • Oh, Ha-Kyeong;Kim, Tae-Sung
    • Journal of Information Technology Applications and Management
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    • v.27 no.4
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    • pp.1-19
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    • 2020
  • Infringement of information security has caused the corporate image to be damaged and share price to fall, and it is emerging as an organizational risk. The value of information assets in enterprises has led to a higher level of security than in the past. As a result, companies are aware of the need for officers to protect information and to oversee a security management system. However, despite the growing importance of information security officers, there is a lack of research on their roles and characteristics. This study validates the relationship between determinants that affect the performance of information security. And a structural equation model was presented and empirically analyzed to see the impact of the internal and external characteristics of the staff in charge of information security on the organization's information security performance.

The Determinants of Foreign Subsidiary CEO Selection: Effects of Internal and External Network Embeddedness of Foreign Subsidiaries and Market Characteristics of Host Country

  • Lee, Jae-Eun;Yang, Young-Soo
    • Journal of Korea Trade
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    • v.25 no.2
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    • pp.134-151
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    • 2021
  • Purpose - This study empirically analyzes the impact of the internal and external network embeddedness of foreign subsidiaries and local market characteristics of the host country on the CEO selection whether or not to appoint an expatriate as the CEO of a foreign subsidiary. Design/methodology - To conduct an empirical analysis, we obtained a list of the headquarters of Korean MNCs from the Korea Chamber of Commerce and Industry. Based on the list of HQs, we identified a final list of overseas subsidiaries of Korean MNCs that have entered the world from KOTRA (Trade-Investment Promotion Agency for Korea). Then we conducted an empirical analysis based on the results of 391 questionnaires by employing logistic regression analysis. Findings - The results of empirical analysis are as follows. First, the higher the subsidiary's internal network embeddedness, the higher the tendency appoint an expatriate as the CEO. Second, the higher the volatility of the local market, the higher the tendency to appoint an expatriate as the CEO. Third, the stronger the competition in the local market, the lower the tendency to appoint a PCN. Originality/value - This study has significant theoretical implications in that it examines the link between the internal and external embeddedness of overseas subsidiaries and the appointment of parent country nationals (PCNs) as the CEO that prior research has not examined.

Role of Pentacyclic Triterpenoids in Chemoprevention and Anticancer Treatment: An Overview on Targets and Underling Mechanisms

  • Ghante, Mahavir H.;Jamkhande, Prasad G.
    • Journal of Pharmacopuncture
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    • v.22 no.2
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    • pp.55-67
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    • 2019
  • The incidences of cancer are continuously increasing worldwide, affecting life of millions of people. Several factors associated with the internal and external environment are responsible for this deadly disease. The key internal determinants like abnormal hormonal regulation, genetic mutations and external determinants such as lifestyle and occupational factors enhances onset of cancer. From the ancient time, plants were remained as the most trusted source of medicine for the treatment of diverse disease conditions. Extensive studies have been performed for the discovery of effective anticancer agent from the plant and still it is going on. Pentacyclic triterpenoids are biologically active phytochemicals having a different range of activities such as anti-inflammatory, hepatoprotective, anti-hypertensive, antiulcerogenic and anti-tumor. These compounds generally contain ursane, oleanane, lupane and friedelane as a chief skeleton of pentacyclic triterpenoids which are generally present in higher plants. Isoprene unit, phytochemical, with good antitumor/anticancer activity is required for the biosynthesis of pentacyclic triterpenoids. Mechanisms such as cytotoxicity, DNA polymerase inhibition, regulation of apoptosis, change in signal transductions, interfere with angiogenesis and dedifferentiation, antiproliferative activity and metastasis inhibition are might be responsible for their anticancer effect. Present review spotlights diverse targets, mechanisms and pathways of pentacyclic triterpenoids responsible for anticancer effect.

Analysis of Determinants of Technological Innovation for SMEs Using Corporate Panel DB (기업 패널 DB를 활용한 대구지역 중소기업 기술혁신 결정요인 분석)

  • Seong, Byungho;Kim, Taesung
    • Journal of the Korea Safety Management & Science
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    • v.23 no.1
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    • pp.81-94
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    • 2021
  • In SMEs, technological innovation is recognized as an important tool in terms of sustainable growth. This study analyzed the determinants of technological innovation by using the information of the corporate panel DB composed of local SMEs. The internal factors were added with technological innovation capacity and production capacity and the industrial cluster environment was first applied to external factors. Also, whether the industrial cluster environment influences technological innovation through R&D capabilities, the mediating effect was tested with the Sobel Test. Among the internal and external factors, the most important determinant was marketing ability, and a policy was proposed to develop measures to increase R&D capability with mediating effect. Among the technological innovation variables, which are dependent variables, the most determinant factor was the proportion of new product sales. For this, it is considered that additional research such as longitudinal research with the concept of repetition and parallax using the corporate panel DB is necessary.

The Determinants of Intent to Leave of Hospital Pharmacists (종합병원 약사의 이직의도 결정요인)

  • 신동영;서영준
    • Health Policy and Management
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    • v.12 no.3
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    • pp.36-53
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    • 2002
  • The purpose of this study is to investigate the determinants of intent to leave of hospital pharmacists. The independent variables contain three groups of determinants: environmental variables(job opportunity and external support), psychological variables(met expectations, growth desire, self-efficacy, and positive/negative affectivity) and structural variables (power, legitimacy, job variety, job significance, workload, physical environment, job security, pay, internal support, job growth, and promotional chances). The sample used in this study consists of 252 pharmacists working at hospitals in Seoul City, Inchon City and Kyunggi Province. Data were collected with self- administered questionnaires from Oct. 24 to Nov. 14 in 2001 and analyzed using path analysis. The results of this study indicate that the following variables, listed in order of size, have significant negative effects on intent to leave of hospital pharmacists; met expectations, organizational commitment, job satisfaction, promotional chances, and job variety. Job opportunity was found to have significant positive effect on the intent to leave of hospital pharmacists. Implications for hospital administrators and discussions for further research were suggested.

An Empirical Study on the Business Performance Determinants According to Years of Operation in Domestic New Ventures (국내 벤처기업의 업령(業齡)에 따른 성과 결정요인)

  • Lee, Sang-Cheon;Go, Bong-Sang;Yong, Se-Jung
    • IE interfaces
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    • v.17 no.spc
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    • pp.11-19
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    • 2004
  • The purpose of this study is to identify the determinants of new venture performance according to years of operation in the view of integrated research framework. We propose the integrated new ventures performance model which is composed of entrepreneur, organization/resources, industrial environment, strategy/foundation process and availability of supporting systems as corresponding variables to new ventures performance. The determinants of new venture performance according to years of operation are identified through the multi-variate statistical analysis such as moderating regression analysis with the data gathered from 110 executives of venture companies. For internal variables, entrepreneur's managerial ability and technical expertise and employee's ability affect venture's performance increasingly as years of operation increases but resource procurement ability affects decreasingly. Related to external variables, years of operation plays positive moderating role on market size growth and supporting system availability, but negative role on government venture policy for venture performances. Though this study has limitation of small sample, limited questionnaire and performance measure, it has managerial contribution of identifying determinants of new venture performance according to years of operation.