How Financial Slack Affects Corporate Performance

How Financial Slack Affects Corporate Performance
Author: Bernadette Gral
Publsiher: Springer Science & Business Media
Total Pages: 116
Release: 2013-12-30
Genre: Business & Economics
ISBN: 9783658045524

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Bernadette Gral examines the relationship between financial slack and corporate performance in the European pharmaceutical industry during the financial crisis of 2007 to 2010. Her investigation includes correlational and regression analyses as well as the qualitative content analysis of newspaper articles. The results show that financial slack influences corporate performance measured as ROA based on net income, thus implying that firms use slack resources to enhance performance during crises. The findings support the arguments for a beneficial effect of financial slack on performance according to the resource based view and behavioral theory of the firm.

Perspectives on Energy Risk

Perspectives on Energy Risk
Author: André Dorsman,Timur Gök,Mehmet Baha Karan
Publsiher: Springer Science & Business Media
Total Pages: 220
Release: 2014-02-17
Genre: Business & Economics
ISBN: 9783642415968

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Since the Industrial Revolution, the efficiency with which energy resources are extracted and converted into work has played a prominent role in the accumulation of material wealth. The prominent role of energy resources, in conjunction with their scarcity and their uneven geographic distribution, has had significant repercussions. Collaboration, competition and conflict among nation states for energy resources have created global, geopolitical and market risks. In this volume, academic scholars and practitioners assess these risks from global, geopolitical and market perspectives. They do so by presenting empirical research and discussing our current understanding of this quickly changing and developing field. This is the third volume in a series on energy organized by the Centre for Energy and Value Issues (CEVI). The previous volumes in the series were Financial Aspects in Energy (2011) and Energy Economics and Financial Markets (2012).

Managing and Measuring of Risk

Managing and Measuring of Risk
Author: Oliviero Roggi
Publsiher: World Scientific
Total Pages: 519
Release: 2013
Genre: Business & Economics
ISBN: 9789814417501

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This volume presents the most recent achievements in risk measurement and management, as well as regulation of the financial industry, with contributions from prominent scholars and practitioners, and provides a comprehensive overview of recent emerging standards in risk management from an interdisciplinary perspective.

Managing and Measuring Risk

Managing and Measuring Risk
Author: Oliviero Roggi,Edward I Altman
Publsiher: World Scientific
Total Pages: 520
Release: 2013-02-20
Genre: Business & Economics
ISBN: 9789814417518

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This edited volume presents the most recent achievements in risk measurement and management, as well as regulation of the financial industry, with contributions from prominent scholars and practitioners such as Robert Engle, 2003 Nobel Laureate in Economics, Viral Acharya, Torben Andersen, Zvi Bodie, Menachem Brenner, Aswath Damodaran, Marti Subrahmanyam, William Ziemba and others. The book provides a comprehensive overview of recent emerging standards in risk management from an interdisciplinary perspective. Individual chapters expound on the theme of standards setting in this era of financial crises where new and unseen global risks have emerged. They are organized in a such a way that allows the reader a broad perspective of the new emerging standards in macro, systemic and sovereign risk before zooming into the micro perspective of how risk is conceived and treated within a corporation. A section is dedicated to credit risk and to the increased importance of liquidity both in financial systems and at the firm's level. Contents:The Evolution of Risk Management:An Evolutionary Perspective on the Concept of Risk, Uncertainty and Risk Management (Oliviero Roggi and Omar Ottonelli)Sovereign and Systemic Risk:Toward A Bottom-Up Approach to Assessing Sovereign Default Risk: An Update (Edward I Altman and Herbert Rijken)Measuring Systemic Risk (Viral V Acharya, Christian Brownlees, Robert Engle, Farhang Farazmand and Matthew Richardson)Taxing Systemic Risk (Viral V Acharya, Lasse Pedersen, Thomas Philippon and Matthew Richardson)Liquidity:Liquidity and Efficiency in Three Related Foreign Exchange Options Markets (Menachem Brenner and Ben Z Schreiber)Illiquidity or Credit Deterioration: A Study of Liquidity in the US Corporate Bond Market During Financial Crises (Nils Friewald, Rainer Jankowitsch and Marti G Subrahmanyam)Risk Management Principles and Strategies:Integrated Wealth and Risk Management: First Principles (Zvi Bodie)Analyzing the Impact of Effective Risk Management: Innovation and Capital Structure Effects (Torben Juul Andersen)Credit Risk:Modeling Credit Risk for SMEs: Evidence from the US Market (Edward I Altman and Gabriele Sabato)SME Rating: Risk Globally, Measure Locally (Oliviero Roggi and Alessandro Giannozzi)Credit Loss and Systematic LGD (Jon Frye and Michael Jacobs Jr.)Equity Risk and Market Crashes:Equity Risk Premiums (ERP): Determinants, Estimation and Implications — The 2012 Edition (Aswath Damodaran)Stock Market Crashes in 2007–2009: Were We Able to Predict Them? (Sébastien Lleo and William T Ziemba) Readership: Researchers and professionals with interest in risk management within the context of the banking, econometrics, mathematical economics, quantitative finance, corporate and risk governance, and corporate finance. Keywords:Risk Management;Sovereign Risk;Systemic Risk;Liquidity;Credit Risk;Equity Risk Premium;Enterprise Risk ManagementKey Features:Chapters are written by top scholars and targeted at practitioners and academicsProvides a complete set of standards in risk measurement, as well as industry management and regulationRecent financial crises have made well established models and standards unusable, this book proposes new ones

Entrepreneurship

Entrepreneurship
Author: Norris F. Krueger
Publsiher: Taylor & Francis
Total Pages: 544
Release: 2002
Genre: Entrepreneurship
ISBN: 0415158583

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This new collection provides a much needed retrospective view of the key academic work published in this area. The papers here highlight the importance of studying entrepreneurship from a wide range of perspectives, including research that derives from economics, history, sociology, psychology and from different business disciplinary bases such as marketing, finance and strategy. The overall focus in this set is on "entrepreneurial" activity, rather than specifically small or family-owned business and favours research articles over those that deal purely with practice.

International Perspectives on Sustainability Reporting

International Perspectives on Sustainability Reporting
Author: Amina Mohamed Buallay
Publsiher: Emerald Group Publishing
Total Pages: 131
Release: 2022-09-16
Genre: Business & Economics
ISBN: 9781801178587

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As global concerns grow surrounding the environment, climate, and sustainability, International Perspectives on Sustainability Reporting presents business case studies from different sectors across different regions, highlighting the changing institutional contexts and laws in each country regarding sustainability reporting.

Environmental Management

Environmental Management
Author: John P. Tiefenbacher
Publsiher: BoD – Books on Demand
Total Pages: 308
Release: 2022-03-23
Genre: Science
ISBN: 9781839625466

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Environmental Management - Pollution, Habitat, Ecology, and Sustainability includes sixteen chapters that discuss pressing environmental issues in diverse locations around the world. Chapters discuss methods, technologies, analyses, and actions that may enlighten and enable decision-makers and managers in their quests for control of environmental problems. The authors present the facts and the challenges behind the assorted issues and offer new perspectives for contending with natural, social, economic, and political aspects of management.

Contemporary Issues in Business and Economics

Contemporary Issues in Business and Economics
Author: Chia-Lin Chang,Duc Hong Vo
Publsiher: MDPI
Total Pages: 246
Release: 2020-07-01
Genre: Business & Economics
ISBN: 9783039360949

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This book is a collection of high-impact papers accepted and presented at the 2019 Vietnam’s Business and Economics Research Conference (VBER2019) organised by Ho Chi Minh City Open University held on 18th–20th July 2019. The Special Issue is associated with a broad coverage of the contemporary issues in Business and Economics in Vietnam and other emerging markets reflecting a key theme of VBER2019: Vietnam’s Place in the Asia Pacific Region. A total of 14 papers were published from more than the 120 submissions to the VBER2019 Conference. Published papers had been undergone a rigorous reviewing process conducted by the Journal of Risk and Financial Management. The papers incorporated in this book address contemporary issues in business and economics from Vietnam and other emerging markets in the Asian region from various angles such as economics, finance, and statistics to management science. At the time of writing this note, some of the papers have attracted more than 1000 downloads in 3 months. In particular, a paper on “Foreign Direct Investment and Economic Growth from Developing Countries in the Short Run and Long Run” by Trang Thi-Huyen Dinh and her team has attracted almost 6000 downloads in 3 months. These statistics indicate that the papers published in this Special Issue have attracted the wide interest of readers. Among these 14 published papers, three main areas of important contemporary issues in Business and Economics in the Asian region can be identified. First, a block of papers deals with various important and fundamental issues in the emerging markets the Asian region, from exchange rate regime, financial inclusion, and financial development to energy consumption and environmental degradation. On the issue of CO2 emissions, energy consumption and economic growth in the ASEAN, Vo, Vo, and Le utilized various time series econometrics approaches. Key findings from this paper indicate that there are no long-run relationships among carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. Loo, in his paper on financial inclusion for the ASEAN, concluded that advancing internet capability and availability present investors an opportunity to offer financial technology or Fintech to meet the need for financial services in this digital era. Second, a challenge in quantitative studies for a single country, such as Vietnam, with limited data is generally noted. However, various empirical studies on Vietnam’s business and economics issues have been conducted. Nguyen, Quan, and Pham examined the cultural distance and entry mode of foreign direct investment in Vietnam. A key finding from their paper is that when there is a great cultural difference between Vietnam and their home country, foreign-invested firms prefer wholly owned subsidiaries over equity joint ventures. Within the Vietnamese market, Pham, Vo, Ho, and McAleer conducted a study on the issue of corporate financial distress. The authors conclude that the corporate financial distress prediction model, which includes accounting factors with macroeconomic indicators, performs much better than alternative models. In addition, the evidence confirms that the global financial crisis (GFC) had a damaging impact on each sector, with the Health & Education sector demonstrating the most impressive recovery post-GFC, and the utilities sector recording a dramatic increase in bankruptcies post-GFC. At another extreme of the spectrum, Van and Nguyen considered that competitive context, social influences, the understanding of managers about corporate social responsibility (CSR), and the internal environment of companies are the four drivers of CSR. The authors also argued that in the four drivers, competitive context has the strongest impact on adopting CSR. Third, last but not least, various papers focus on an important aspect of public finance. For an example, Pham, Pham, and Ly documented the effect of double taxation treaties on the bilateral trade of Vietnam with ASEAN member states, thereby making an extensive comparison with its EU partner countries. Their findings indicate the significant contributions of the tax treaties to Vietnam’s trade performance, not exclusively with ASEAN but also with EU partner countries. In addition, regarding public finance for Vietnam, Nguyen, Vo, Ho, and Vo investigated the contribution of fiscal decentralisation to economic growth across provinces in Vietnam. For the first time in Vietnam, the fiscal decentralisation index together its two subcomponents, including fiscal importance and fiscal autonomy, are developed. Findings from this paper indicate that while fiscal importance and an overall level of fiscal decentralisation have provided negative impact on provincial economic growth, fiscal autonomy has a positive impact on economic growth across provinces in Vietnam.