-
Rapport Between Leverage and Profitability: A Study of TVS Motor Company
Issue:
Volume 6, Issue 2, March 2018
Pages:
49-55
Received:
12 March 2018
Accepted:
9 April 2018
Published:
11 May 2018
Abstract: Leverage analysis can be defined as a process of identifying the financial strength and weakness of a firm from the available data and financial statements. A firm needs funds so run and manage its activities. The funds are needed to set up an enterprise and then to implement expansion, diversification and other plans. A decision has to be made regarding the composition of funds. In this paper an attempt has been made to analyze the impact of leverage on the profitability and performance of the company. For the purpose of the study TVS motor Co. has been selected and for analysis purpose the basic statistical tools like Mean, SD, CV, CAGR, ANOVA(one way) have been used and in order to measure the impact the OLS simple Linear regression model has been used, the study covers a period of ten years from 2006 to 2016. Results suggested that the operating, financial and combined leverage of the company does not play any major role in making investment decisions of the company. And it was also found that the financial, operating and combined leverage of the company has no significant impact on ROA (Return on Assets) and Risk Adjusted (SHROA) of the company.
Abstract: Leverage analysis can be defined as a process of identifying the financial strength and weakness of a firm from the available data and financial statements. A firm needs funds so run and manage its activities. The funds are needed to set up an enterprise and then to implement expansion, diversification and other plans. A decision has to be made reg...
Show More
-
Mandatory Social and Environmental Disclosure: A Performance Evaluation of Listed Nigerian Oil and Gas Companies Pre- and Post-Mandatory Disclosure Requirements
Issue:
Volume 6, Issue 2, March 2018
Pages:
56-68
Received:
14 April 2018
Accepted:
2 May 2018
Published:
22 May 2018
Abstract: Corporate social and environmental disclosure is still evolving and weak in developing countries and to stimulate the practice, many developing countries are putting in place regulations. Code of Corporate Governance for listed companies in Nigeria issued in 2011 mandated certain disclosure. Therefore, the main aim of this study is to assess volume of disclosure by listed Nigerian oil and gas companies six (6) years pre- and six (6) years post the code. Legitimacy theory is employed to underpin the study while corporate characteristics are tested to determine their influence on volume of the disclosure. Modified word count content analysis of annual reports and accounts of sample companies is used to determine volume of disclosure while two sample t-tests give the statistical mean of the disclosure. Panel Corrected Standard Error Regression analysis is used to determine the influence of corporate characteristics on the volume of the disclosure. Results from words counts content analysis indicated 53% increase in volume of social disclosure and 235% increase in volume of environmental disclosure six years post-code over disclosure six years pre-code. Two sample t-tests show that the mean of disclosure six years post code is greater than the mean of disclosure six years pre- code. Panel regression analysis results show that corporate size, have positive and significant relationship with disclosure. Obtained results is perhaps consistent with legitimacy theory.
Abstract: Corporate social and environmental disclosure is still evolving and weak in developing countries and to stimulate the practice, many developing countries are putting in place regulations. Code of Corporate Governance for listed companies in Nigeria issued in 2011 mandated certain disclosure. Therefore, the main aim of this study is to assess volume...
Show More
-
Trading Behaviours Analysis in an Artificial Stock Market
Issue:
Volume 6, Issue 2, March 2018
Pages:
69-75
Received:
26 April 2018
Published:
23 May 2018
Abstract: In this paper, we study trading behavior of five different populations with different trading strategies in the framework of an artificial stock market. Insiders who know accuracy time and quantity of inflow cash enter into market and trade with others, which increase difficulty to get more profit for non-insiders. A new clearing mechanism that matches price in order is mentioned. Simulation results show that trading strategies yield different results. It is noticeable that insider can easily get more profit in short time due to prior information.
Abstract: In this paper, we study trading behavior of five different populations with different trading strategies in the framework of an artificial stock market. Insiders who know accuracy time and quantity of inflow cash enter into market and trade with others, which increase difficulty to get more profit for non-insiders. A new clearing mechanism that matc...
Show More
-
Empirical Analysis on the Characteristics of Accounting Elements of Listed Companies in Building Materials Industry
Liu Yun,
Yang Qiaowen,
Yao Yonghong
Issue:
Volume 6, Issue 2, March 2018
Pages:
76-83
Received:
19 June 2018
Published:
20 June 2018
Abstract: This paper builds an empirical model of accounting factors such as inventory, receivables, liabilities, net assets, operating costs, operating income, net profit and other accounting factors in the assets of accounting factors. To net profit to be explained variable, other accounting elements as the explained variable, for China's building materials industry (A shares) in the third quarter of 2017 financial indicators for the empirical analysis, trying to find out decision accounting elements dependent data regularity of construction building materials industry net profit model, the elements of accounting in the model structure characteristics, in order to strengthen industrial chain management, to the back-end industry: A leading role in the real estate industry to provide decision basis; To provide the decision-making basis for the construction materials industry and the internal supply side reform of specific companies in the industry.
Abstract: This paper builds an empirical model of accounting factors such as inventory, receivables, liabilities, net assets, operating costs, operating income, net profit and other accounting factors in the assets of accounting factors. To net profit to be explained variable, other accounting elements as the explained variable, for China's building material...
Show More
