Accounting
Fakhreddin Fakhrhosseini; Meysam Kaviani
Abstract
Cash is one of the most important and critical resources in each profit entity, and exploring its relevance to stock returns and the extent to which it is influenced by the firm-level uncertainty is one of the most important issues in corporate decisions. The present study investigated the relationship ...
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Cash is one of the most important and critical resources in each profit entity, and exploring its relevance to stock returns and the extent to which it is influenced by the firm-level uncertainty is one of the most important issues in corporate decisions. The present study investigated the relationship between cash holdings, financial leverage, and excess stock returns considering the role of uncertainty level. This study uses all publicly firms on Iranian stock exchange. Data base on records of financial statements and market data of all Iranian firms that are listed on Iran Stock Exchange, and that are subject to the regulations by the Capital Market Authority in Iran. In addition, we use data from Iranian stock exchange for the period 2004–2018 to construct variables based on the information contained in financial statements. The results indicated that financial leverage and changes in cash holdings affect excess stock returns, and cash holdings are affected by the firm-level uncertainty. This paper fulfils an identified the role of Firm-level uncertainty in cash management, capital structure, and investment decisions.
Yevilia Yevilia; Mukhlasin Mukhlasin
Volume 7, Issue 6 , June 2020, , Pages 307-319
Abstract
This study aims to examine the effect of tax avoidance, firm size, firm age, and leverage on earnings response coefficient. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2017-2019. The sample used as a whole consisted of 97 of 165 companies ...
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This study aims to examine the effect of tax avoidance, firm size, firm age, and leverage on earnings response coefficient. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2017-2019. The sample used as a whole consisted of 97 of 165 companies with 144 observations. The results of this study use multiple linear regression analysis and indicate that tax avoidance, firm size, and leverage have a positive effect on earnings response coefficient, while firm age has no influence on earnings response coefficient.
Joshua Samuel Gambo; Nyor Terzungwe; Okpanachi Joshua; Samuel Eniola Agbi
Volume 6, Issue 11 , November 2019, , Pages 780-794
Abstract
Most studies on board independence, board expertise, foreign board members and financial performance in Nigeria and other parts of the world showed different results with some showing positive, negative and mixed results. This study examined the effect of board independence, expertise and foreign board ...
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Most studies on board independence, board expertise, foreign board members and financial performance in Nigeria and other parts of the world showed different results with some showing positive, negative and mixed results. This study examined the effect of board independence, expertise and foreign board member on the financial performance of listed insurance firms in Nigeria. The population of the study comprises 26 listed insurance firms in Nigerian Stock Exchange and 17were selected as sample the size using random sampling technique. The regression analysis revealed that board expertise and foreign members have statistical significant effect on the financial performance measured by return on asset (ROA). Board independence has a significant effect on ROA but do not have significant effect on return on equity ROE. The study therefore, recommend that regulators must ensure that competent independent board members are well represented in the board of directors, and insurance companies should adhere strictly to the corporate governance code of conduct as it affects board expertise and foreign board members so to improve the quality of financial performance.