• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.733-739
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• 2021

This study investigates the relationships of energy firm-level characteristics, namely; firm size, firm leverage, and firm performance with board diligence among companies listed in Saudi Stock Exchange (Tadawul) for the periods ranging from 2012 to 2019. The final sample of this study consists of 32 firm-year observations. A quantitative approach was adopted to test 3 specific hypotheses developed for the board diligence model. Using the Pooled OLS regression, this study finds that firm size and firm performance are negatively associated with board diligence. The results of this study indicate an insignificant association of firm leverage with board diligence. Besides, firm performance is related negatively to board diligence. This indicates that the board of companies with poor performance increases the number of its meetings because of the increased pressure on the board to improve its oversight operations and address the severe performance challenges. The increased number of board meetings observe the daily management of the company, increase the chances for discussions concerning the performance challenges, and come up with solutions faster. The directors are also likely to encounter heightened pressure to appear more engaged during a company's financial distress since lenders require a meeting of the board or with the board.

• 벤처창업연구
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• 제1권1호
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• pp.105-125
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• 2006

This paper relates recent empirical research on the growth. Smaller and younger firms have been growing more quickly than larger and older firms, thus, generating proportionately more new jobs. It is not difficult to understand why small and medium firms receive so much attention. Because SMEs provide about 80 percent of private sector employment so SMEs performance is an important economic and social factor. Despite this, they are subject to higher risk and mobility than those at the large firms. This paper is analyzes the relationship between firm growth measured as growth in employment, sales and production and firms age, size and R&D investment. The growth and its relationship with the determinants is linked to industrial policy in Korea. Empirical results are based on an unbalanced panel data covering period 1999-2002. Results show significant relationship between growth, size and age of firm.

• 디지털산업정보학회논문지
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• 제5권4호
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• pp.273-293
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• 2009

The purpose of this study is to identify the organizational characteristics that enhance CRM performances of a company dipend on firm's size. Based on a review of diverse definitions of CRM performance, this study examines the relationships among CRM performance measures and organizational characteristics. A questionnaire survey of 140 CRM managers of Korean companies was conducted to test the proposed research model, and a series of structural equation modeling identified the strong effects of organizational characteristics on CRM performance. This study confirmed that firm's size is very important element of CRM performance. And organizational members' resistance to change was found to have no effects on CRM performance.

• The Journal of Asian Finance, Economics and Business
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• 제7권3호
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• pp.63-72
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• 2020

The study aims to investigate the impact level of earnings quality on firm value. The study has used data with 3,910 observations at listed firms on Vietnam Stock Exchange for the period from 2010 to 2018, and GLS regression analysis is employed in this research. Earnings quality is measured in the aspects of earnings management, earnings persistence, and timeliness of profitability. This study also considers a number of controlled variables that positively influence the firm's value such as firm size, fixed asset investment rate and dividend payout ratio. The results show that earnings quality is positively associated with firm value with having statistical significance. In contrast, some determinants negatively influence firm value such as financial leverage, ratio of market value to book value, and revenue growth. Determinants of firm size, the rate of investment in fixed assets, the rate of dividend payment positively affect the firm value. In contrast, determinants of financial leverage, revenue growth rate and market value to book value ratio are inversely related to firm value according to economic value, Tobin's Q or Price. Based on the findings, some recommendations are proposed for investors, management and policy makers as well in the context of emerging countries including Vietnam.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.943-952
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• 2021

The purpose of this study is to evaluate the effect of COVID-19 on corporate governance attributes and firm performance association. This research used a sample of 188 non-financial firms from the Malaysian market for the years 2019-2020. We found that the COVID-19 has affected all firm characteristics including firm performance, governance structure, dividend, liquidity, and leverage level, yet, the difference between prior and post COVID-19 pandemic is not significant. Also, the investigation revealed that board size exerts a significant positive impact on firm performance. After splitting the sample based on year, however, we found that board size does not matter in the uncertain time of the current crisis, while board diversity appeared to be significantly enhancing firm performance in the crisis time compared to the prior year where it has an inverse association with firm performance in both indicators. Board meetings and audit committee meetings seemed to have a significant negative influence on firm performance pre and post-COVID-19. This study contributes to the limited literature by providing the first empirical evidence on the impact of Coronavirus on the firm performance and corporate governance association.

• 한국산학기술학회논문지
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• 제15권8호
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• pp.4895-4900
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• 2014

본 연구는 미시 수준의 기업 자료를 이용하여 정부소유 은행과 거래 기업의 규모에 대해 다양한 실증분석을 실시하였다. 기업과 정부소유 은행 관계는 정부소유은행과의 최다대출관계 여부, 정부소유은행의 대출비중 등을 이용하였다. 또한 정부소유 은행관계가 기업 규모에 미치는 영향에 대한 내생성 문제를 통제하기 위해 시차변수, 도구변수를 이용한 이단계 최소자승 모형 등을 이용하였다. 또한 분석결과에 미칠 수 있는 요인을 통제하기 위해 다양한 관점에서의 통제변수를 이용하였다. 분석 결과에 따르면 정부소유 은행과 주거래 관계에 있거나 정부소유 은행으로부터 많은 대출을 의존할수록 거래기업의 규모가 작은 것으로 나타났다. 본 연구 결과를 통해 정부소유 은행과 주된 거래관계에 있거나 정부소유 은행들로부터 상대적으로 많은 대출을 의존하는 기업들의 규모는 상대적으로 작은 것으로 추정할 수 있다. 즉 정부소유 은행과 관계가 긴밀할수록 기업의 규모가 작은 기업들이라고 추정할 수 있다. 본 연구는 은행의 정부소유 여부 등 은행 소유 지배구조, 은행과 기업의 관계 등에 새로운 시사점을 제공하고 있다. 또한 본 연구는 은행의 민영화 진행 과정에서 정부소유 은행의 긍정적 기능을 살펴 보았다는 점에서도 시사점이 있다.

• The Journal of Asian Finance, Economics and Business
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• 제9권6호
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• pp.325-329
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• 2022

Enterprises play an increasingly important role in economic development in each country. Effective businesses will make the economies of countries also become efficient and develop. Enterprises play a role in creating jobs, improving labor productivity, and connecting foreign trade and import-export activities. The study aims to evaluate the factors affecting the profitability of small and medium enterprises in Hanoi by using a study of 210 enterprises in the area as well as advanced econometric regression analysis. The research results show that firm size and human capital have no impact on business performance. However, older firms are likely to have higher firm performance, and conversely, younger firms have lower firm performance. The research also confirms that the growth of businesses often has higher firm performance than low-growth ones. Furthermore, a firm with greater value is also more likely to stimulate business performance than lower its value, and this effect is the largest among the analyzed factors. Finally, the study also has some recommendations for the Vietnamese government to develop small and medium enterprises. Specifically, the government needs to create an open mechanism for the start-up movement and create a favorable financial mechanism for small and medium-sized enterprises to be able to access.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.423-431
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• 2021

This study aims to examine the effect of liquidity, activity, leverage, and profitability on firm value, as well as the effect of disclosure of corporate social responsibility (CSR), which in this study is a moderator and company size as a control variable. The sampling technique used in this study is a purposive sampling method with certain criteria, to obtain a sample of 22 LQ45 index companies listed on the Indonesia Stock Exchange in 2014-2019. The data analysis method in this study used was the Multiple Linear Regression Analysis with the SPSS 18 Program. The results show that the ratios of liquidity, activity, leverage, and profitability are significant to firm value in accordance with the initial hypothesis of the study. Corporate Social Responsibility (CSR) plays a role as a moderating variable and company size variable as a control variable on the effect of financial ratios (liquidity, activity, leverage, and profitability) on firm value. The implication of this research is that CSR has a very important role in increasing company value. To attract more investors, companies must pay attention not only to financial performance but also to social performance. Large-scale companies tend to do more CSR so that the company value will increase.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.129-137
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• 2021

This paper aims to analyze whether company characteristics are potential determinants of human resource accounting (HRA) disclosure practices by Vietnamese listed companies. It examines the human resource disclosure level of 204 companies by content analysis of these companies' annual reports. The study has relied on a multiple linear regression to test the association between a number of corporate attributes and the extent of human resource disclosure in companies' annual reports. The extent of human resource disclosure was measured using unweighted human resource disclosure index. The explanatory variables considered in this study were firm size, firm age, profitability, leverage, industry profile, and auditor type. The results revealed that the most influential variable for explaining firms' variation in human resource disclosure is firm size followed by firm age and profitability. Thus, it can be concluded that firm size, firm age and profitability are major predictors that may affect the variety of HRA disclosure practices on firms listed in the Vietnam Stock Exchange. However, neither industry profile nor auditor type seems to explain differences in human resource disclosure practices between Vietnamese listed firms, indicating that company's industry profile and auditor type are not a matter for the company to disclose HRA information.

• 한국산학기술학회논문지
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• 제16권9호
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• pp.5897-5905
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• 2015

본고에서는 통계청 광업제조업조사의 사업체별 미시자료를 이용하여 제조업을 대상으로 자본투입, 노동생산성, 총요소생산성 등 기업의 성장성과 관련된 경영지표의 분포를 사업체 규모별 및 시기별로 나누어 도출하고 이를 토대로 사업체 규모별 성장성의 차이가 주로 어떠한 요인에 기인하는지 살펴보았다. 총요소생산성 증가와 자본투입 증가(자본심화)가 실질 부가가치 증가에 미친 기여도를 시산해 본 결과 대규모 사업체의 총요소생산성 기여도가 중소규모 사업체에 비하여 더 크고 이러한 격차는 점차 확대되고 있음을 알 수 있었다. 반면 자본심화의 경우는 대규모 사업체의 경우가 중소규모 사업체에 비하여 오히려 더 낮았던 것으로 나타나 2000년대 이후 성장성에 있어서 중소기업과 대기업 간의 격차가 확대된 주 원인이 자본심화 보다는 총요소생산성 증가율 격차에 기인함을 확인할 수 있었다. 한편 사업체 단위별 노동생산성 및 총요소생산성의 분포를 구해 본 결과, 중소규모 보다는 대규모 사업체 집단에서 사업체 간 양극화가 더욱 뚜렷이 진행되고 있음을 알 수 있었다.