Current Issue : October - December Volume : 2016 Issue Number : 4 Articles : 6 Articles
The purpose of this article is to clarify the moderating effect of the board of directors in the relationship between the accounting conservatism and companies' performance. Previous studies have investigated the impact of corporate governance on the level of accounting conservatism. Our objective is to study the effect on the relationship between the level of accounting conservatism and performance of a central governance mechanism, namely, the board of directors. Using a sample of 60 French listed companies belonging to the SBF 120 index in all the period 2007-2012, we examine the effect of the size, the composition and the structure of such a mechanism on the relationship between the accounting conservatism and companies' performance. Therefore, most of our findings support the moderating impact of such a mechanism that has been ignored or left out by earlier studies....
In this paper we analyze the impact of banks on German non-financial companies through ownership stakes and board representation. We find that the correlation between firm value and bank representation is negative and highly significant. By exploring the time series dimension of our dataset, we show that bank presence causes lower performance while there is no evidence of causality in the opposite direction. Our results suggest that bankers are attracted to the boards of those companies where they can extract larger benefits of control: Banks are systematically more represented on the boards of companies that are larger, have more intangible assets and offer higher board remuneration. There is little evidence that banks facilitate lending or monitor existing debt contracts. Whereas block ownership by non-banks is associated with better performance, there is no such relationship for banks....
Process improvement is a constant search for opportunities to improve the processes in the daily operations of the company, and to enhance the relationships between processes. One of the concepts of continuous improvement is the Lean Management approach. Lean management is the way to achieve the perfect level of the organization through the gradual and ongoing, which is characteristic for continuous improvement approach, elimination of waste (ââ?¬Å?mudaââ?¬Â in Japanese) and losses in all the aspects of business, and the integration of activities connected with the stream creating customer value. The approach to classification of wastes dominating in the literature comprises seven groups. The authors focused on just the last type of waste that is on the under-utilization of the potential of employees. However, according to the authorââ?¬â?¢s interpretation, thinking of ââ?¬Å?mudaââ?¬Â is not using the available working time of employees. In the opinion of the authors, this loss is due to a lack of standardization of working time of employees In order to eliminate wasted time at the workplace, the authors suggest using the techniques of work analysis and standardization. The purpose of this article is to present the methods mentioned and focus on the possibility of their inclusion in the concept of Lean Management, in the context of elimination of waste in the form of under-utilized potential of employees. The above approach combines the Japanese approach in terms of improvement of processes and European approach in the context of research on work....
This study analyzes productivity growth in Sudanese Sugar Schemes over the period 1999-2007. The application and specification of the output-based Malmquist total factor productivity index, data variables and sources, results, and some policy implications for the Sudanese sugar farms are discussed and presented The Malmquist productivity index was used to measure the technical and economic or allocative efficiency. Data Envelopment Non-parametric analysis (DEA) a model of output-oriented total factor productivity (TFP) was used in the analysis. This model provided meaningful results regarding technological and economic behavior relationships over time, using balance panel data on Sudanese Sugarcane Schemes. Efficiency change contributed to the total factor productivity progress and technical change to its regress to the Sudanese Sugarcane Schemes by 0.2% and 12.5%, respectively. The results indicated that the Sudanese Sugar Schemes had an annual average increase in TFP of 12.7%. The regression analysis results showed that expenses were negatively and significantly related to TFP....
In order to grow, develop, and sustain at highly competition, business organizations require not only to possess new talent employees and Intellectual Capital but also to engage them to achieve strategic goals. Therefore, this study aims at exploring the effect of Intellectual Capital (Human, Structural, and Relational Capitals) on Carrefour Internal Growth Strategies using Ansoffs' Model. The target population was Carrefour employees and a sample of 83.7% of population was drawn, a questionnaire used and distributed on a sample drawn with returned ratio of 80.8%. Results of statistical analysis revealed that there was a significant relationship between Intellectual Capital and its dimensions (Human Capital, Structural Capital, and Relational Capital) and Carrefour Internal Growth Strategies. The regression analysis revealed that Intellectual Capital has significant effect on Carrefour Internal Growth Strategies in general. Moreover, Intellectual Capital and its dimensions (Human Capital, Structural Capital, and Relational Capital) have a direct, positive, and significant effect on Market Penetration Strategy, Product Development Strategy, Market Development Strategy, and Diversification Strategy as they represent Ansoff Matrix of Growth strategies. Future implications of these results would be highlight the important role strategic leadership play and introduce a mediating role of knowledge management in this\nrelationship at all....
The objective of this study was the investigation comprised the long run equilibrium and the short run dynamic interlinkages between sheep markets by using the monthly data of Omdurman, Medani, Elobied, Nyala and Sennar markets from January 1980 to December 1984 and from January 1990 to December 2000. The main findings were as following (i) The prices were first difference stationary, (ii) The test failed to reject the null hypothesis of no long run relationships between variables in the period 1980-1984 and (iii) there was only one cointegrating vector in the system in the period 1990-2000, and the short run integration appeared to be weak. The long run dynamics was re-examined by using impulse response tests and the results support the cointegration of these markets. It may be interpreted that any shock to the equilibrium relationships is mostly restored within four months lag period. The results also suggested relative leadership of Omdurman and Nyala markets in sheep pricing, which means the system is driven by large markets....
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