Studies in Business and Economics最新文献_第9页

Implications of Audit Quality on Agency Conflicts: Evidence from Nigeri 审计质量对代理冲突的影响:来自尼日利亚的证据

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Studies in Business and Economics Pub Date : 2023-06-15 DOI: 10.29117/sbe.2023.0139

J. Olowookere, Quadri Adebayo Lawal, A. Siyanbola

{"title":"Implications of Audit Quality on Agency Conflicts: Evidence from Nigeri","authors":"J. Olowookere, Quadri Adebayo Lawal, A. Siyanbola","doi":"10.29117/sbe.2023.0139","DOIUrl":"https://doi.org/10.29117/sbe.2023.0139","url":null,"abstract":"This study examined the link between audit quality and agency costs in Nigeria corporate environment. Specifically, the study examined the way audit quality represented by audit firm size affect agency conflicts represented by asset utilization rate, and whether timeliness of the audit report alters the nexus between audit quality and agency conflicts in Nigeria. The data were collected from seventy-three (73) listed non-financial firms who consistently published their annual reports between 2010 and 2019 out of the one hundred and twelve (112) non-financial firms listed on the Nigerian Stock Exchange as of 31st December 2020. Descriptive statistics tools of mean and standard deviation as well as correlation analysis were used for preliminary analysis while fixed effect panel regression was used for the multivariate analysis. Feasible generalize least square was used to estimate the model for robustness check in addition to the use Tobin’s Q as alternative proxy for agency conflicts. The results were obtained by controlling for firm size, firm performance, and firm age. The results of the study revealed a significant negative impact of audit quality on agency costs implying that firms audit by big four have significantly lower agency costs compared to firms audited by other audit firms. Further analysis of the results shows that the positive effect of audit report lag overwhelms the negative influence of audit firm size on agency costs suggesting that using big 4-audit firm would not mitigate agency conflict if the audit report lag is higher. These findings are robust to alternate estimation technique and proxy for agency costs. This study therefore recommends that firms should not only patronize big 4-audit firm to mitigate agency conflict, they must ensure timely audit report.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":"44 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85581077","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Customer Centricity and Firm Operational Performance: A Study of Fast Moving Consumer Goods’ Firms in Ogun State, Nigeria. 顾客中心与企业经营绩效:对尼日利亚奥贡州快速消费品企业的研究。

IF 0.6

Studies in Business and Economics Pub Date : 2023-06-15 DOI: 10.29117/sbe.2023.0140

M. Ogunmuyiwa, Ifedayo Oladele Agbaje

引用次数: 0

Representation and Evaluation of the Global Performance of Cooperatives 全球合作社绩效的代表性与评价

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Studies in Business and Economics Pub Date : 2023-06-15 DOI: 10.29117/sbe.2023.0141

N. Mamdouh, Mohamed Alami Chentoufi

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Front Matter 前页

Studies in Business and Economics Pub Date : 2023-06-01 DOI: 10.29117/sbe.2023.0136

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Recent Examination of Energy Markets Volatility 能源市场波动的最新研究

IF 0.6

Studies in Business and Economics Pub Date : 2023-04-01 DOI: 10.2478/sbe-2023-0007

Octavian Jude, Avraham Turgeman, Claudiu Boțoc

{"title":"Recent Examination of Energy Markets Volatility","authors":"Octavian Jude, Avraham Turgeman, Claudiu Boțoc","doi":"10.2478/sbe-2023-0007","DOIUrl":"https://doi.org/10.2478/sbe-2023-0007","url":null,"abstract":"Abstract The main aim of the paper is to examine if the energy market (crude oil, gas and electricity) realized volatility exhibits a symmetric or an asymmetric behaviour, for certain commodities over the period May 2012 – August 2022. We considered this time frame for data collection because it is ensuing after the extensively researched period of the financial crises that started in 2007. We took into consideration the STOXX Europe 600 index representing large, mid and small capitalization companies across 17 countries from the European Union. Subsidiary we want to examine if there are similarities in term of realized volatility between energy markets and equity markets. For energy markets the results are consistent with the leverage hypothesis of the asymmetric volatility, i.e. negative and positive returns with the same magnitude have different impact on volatility. Furthermore the volatility is more sensitive to its lagged values in the market place than it is to new information. In addition, for the entire period volatility is asymmetric for both energy and equity markets, but there are different sub-periods with different results. These results reinforce the diversification principle that must be considered in portfolio and risk management process.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":"45 1","pages":"118 - 128"},"PeriodicalIF":0.6,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85657598","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Digital Transition and Readjustment on EU Tourism Industry 欧盟旅游业的数字化转型与调整

IF 0.6

Studies in Business and Economics Pub Date : 2023-04-01 DOI: 10.2478/sbe-2023-0015

Antonio Sánchez-Bayón

引用次数: 1

Exploring the Dynamic Landscape of Performance Management: A Bibliometric Analysis of Emerging Trends 探索绩效管理的动态景观:新兴趋势的文献计量学分析

IF 0.6

Studies in Business and Economics Pub Date : 2023-04-01 DOI: 10.2478/sbe-2023-0019

A. Gorski, D. Dumitrașcu

{"title":"Exploring the Dynamic Landscape of Performance Management: A Bibliometric Analysis of Emerging Trends","authors":"A. Gorski, D. Dumitrașcu","doi":"10.2478/sbe-2023-0019","DOIUrl":"https://doi.org/10.2478/sbe-2023-0019","url":null,"abstract":"Abstract Performance management, as a systematic and continuous process of planning, measuring and improving performance, is an important endeavor for any organization, regardless of being private or public. To understand the current state of research on performance management, a comprehensive bibliometric study was conducted. This paper aims to provide a co-occurrence analysis to identify and explore clusters, prevailing and emerging themes, and future research directions. For this purpose data was collected from the WoS database and processed with VOSviewer and Microsoft Excel. The paper contains visual representations of clusters, keywords and their relationships, as well as an analysis of the novelty of the concepts. Based on the average published year (APY), the hottest keywords identified are Covid-19 (APY: 2021), followed by Industry 4.0 (APY: 2020.17), together with other 4IR tools (big data analytics, big data, machine learning, artificial intelligence, cloud, Iot, etc.). Resulting from the analysis of concepts with APY after 2017, in terms of their representativeness (occurrence), links, and total link strengths (TLS) with other items from the map, three concepts significantly emerged: framework (Cluster 1); public sector (Cluster 3); sustainability (Cluster 4). Based on the overall findings, new research directions were proposed.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":"3 1","pages":"342 - 366"},"PeriodicalIF":0.6,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79952671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A Sectoral-Based Approach to the Link Between Financial Performance and Sustainability 财务绩效与可持续性之间联系的基于部门的方法

IF 0.6

Studies in Business and Economics Pub Date : 2023-04-01 DOI: 10.2478/sbe-2023-0020

R. Serban, D. Mihaiu, M. Herciu, Claudia Ogrean

{"title":"A Sectoral-Based Approach to the Link Between Financial Performance and Sustainability","authors":"R. Serban, D. Mihaiu, M. Herciu, Claudia Ogrean","doi":"10.2478/sbe-2023-0020","DOIUrl":"https://doi.org/10.2478/sbe-2023-0020","url":null,"abstract":"Abstract The main objective of this paper is to analyze if there is a link between financial performance and sustainability in the case of listed companies on stock markets, worldwide, and across all sectors of activity because sustainability has become an important part of the company’s strategy. The financial performance of the companies was calculated using public financial data from the annual financial statements, while the environmental, social, and governance (ESG), and controversies scores were used as performance metrics for sustainability at company level. To evaluate financial performance a variety of indicators were used, such as assets management, debt management or market value performance, as a benchmark tool to compare the standing of companies in each sector of activity analyzed. Our findings showed that there are different relations (strong or weak) between financial performance and sustainability if a sectoral-based approach is considered. As a result, the link between financial performance and sustainability was tested on a sample of more than 5,000 companies divided into 10 sectors of activities, according to the Global Industry Classification Standard (GICS), for the period 2017-2021. The main conclusion of this study is that they are interrelated, capitalizing on each other.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":"33 1","pages":"367 - 377"},"PeriodicalIF":0.6,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87024664","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Measuring Market Efficiency Through Valuation Techniques: The Case of Visegrad Countries Stock Markets 用估值技术衡量市场效率:以维谢格拉德国家股票市场为例

IF 0.6

Studies in Business and Economics Pub Date : 2023-04-01 DOI: 10.2478/sbe-2023-0011

Artor Nuhiu, Florin Aliu, Fisnik Aliu, Arber Hoti

{"title":"Measuring Market Efficiency Through Valuation Techniques: The Case of Visegrad Countries Stock Markets","authors":"Artor Nuhiu, Florin Aliu, Fisnik Aliu, Arber Hoti","doi":"10.2478/sbe-2023-0011","DOIUrl":"https://doi.org/10.2478/sbe-2023-0011","url":null,"abstract":"Abstract Company valuation stands as the most controversial topic in the field of financial management. The study investigates the extent to which stock prices of the companies listed on Czech, Polish, Hungarian, and Slovak equity markets deviate from their estimated intrinsic value. DCF model was employed using Monte Carlo simulations with 500, 1000, and 10000 trials to generate estimated intrinsic value and compare them to market prices. The results of the study show that the Bratislava Stock Exchange (SAX) on average holds the lowest gap between intrinsic value per share and market prices with only 82% deviation, followed by PSE with 116% deviation, WIG20 with 207% deviation, and BUX with 246%. SAX appears with the best performance from 2009 to 2019, where the shares on average were traded with only 82% deviation from their estimated equilibrium price (intrinsic value). Findings regarding the differences between book value per share and stock prices are different, where SAX leads with 71% deviation, WIG20 with 181%, PSE with 188%, and BUX with 545%. Outcomes of the work are of interest to financial investors that seek to diversify their portfolios on the equity stocks. The study offers a new conceptual framework for testing the market efficiency of equity exchanges through company valuations techniques. From the policy perspective, institutions in charge get inform on the measures to be taken that would improve efficiency and strengthen the importance of the Visegrad equity markets.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":"22 1","pages":"198 - 217"},"PeriodicalIF":0.6,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83460480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Drivers of Digital Transformation and their Impact on Organizational Management 数字化转型的驱动因素及其对组织管理的影响

IF 0.6

Studies in Business and Economics Pub Date : 2023-04-01 DOI: 10.2478/sbe-2023-0009

Cantemir Mihu, A. Pitic, Dorin Bayraktar

{"title":"Drivers of Digital Transformation and their Impact on Organizational Management","authors":"Cantemir Mihu, A. Pitic, Dorin Bayraktar","doi":"10.2478/sbe-2023-0009","DOIUrl":"https://doi.org/10.2478/sbe-2023-0009","url":null,"abstract":"Abstract Digital transformation has become a critical topic for organizations that want to stay competitive in today’s digital age. The widespread use of digital technologies has brought significant changes to the way organizations exist, operate and interact with customers. They are going through a process of reshaping and reorganizing processes and operations, as well as rethinking and redefining the human role in the value creation process. However, digital technologies and their diffusion are not the only driver of digital transformation, as the success of such change initiatives depends on many other factors, the definition of which is crucial to the success of digital transformation. The objective of this paper is to explore the drivers of digital transformation and their impact on management. The work presents a comprehensive review of the literature on digital transformation, identifying the main drivers that influence the success of digital transformation initiatives. It also defines the impact of these drivers on the management of organizations, identifying how the role of the executive is being redefined in today’s digital age.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":"16 1","pages":"149 - 170"},"PeriodicalIF":0.6,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90692845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0