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Political Influence and Cost vs. Benefit of CEO Duality: Evidence from Post-IPO Performance in China
Heli Wang,
Lijun Xia,
Veicheng Yu
Issue:
Volume 5, Issue 1, February 2017
Pages:
1-7
Received:
9 February 2017
Published:
10 February 2017
Abstract: Investigating the post-IPO performance of Chinese firms, we empirically examine the moderating effect of political influence in the cost vs. benefit analysis of CEO duality (the arrangement for the CEO to chair the board). We find that, on average, post-IPO performance is positively associated with CEO duality. Meanwhile, such a positive association is less pronounced for state-controlled firms, for the firms in regulated industries, and for the firms with politically connected CEOs. Our findings suggest that, the higher is the extent of political influence, the benefit of CEO duality is less likely to outweigh the cost of CEO duality. As for the implication for policy-makers, the evidence also suggests that the proposal asking all listed firms to separate the role of CEO from board chairman may need more careful consideration.
Abstract: Investigating the post-IPO performance of Chinese firms, we empirically examine the moderating effect of political influence in the cost vs. benefit analysis of CEO duality (the arrangement for the CEO to chair the board). We find that, on average, post-IPO performance is positively associated with CEO duality. Meanwhile, such a positive associatio...
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Assessing the Impact of Employee Work Design on Performance and Profit Optimization of Nigerian Commercial Banks
Marcus Garvey Orji,
Regina Samson,
Solomon Abba Boman,
Joseph Odey
Issue:
Volume 5, Issue 1, February 2017
Pages:
8-14
Received:
31 October 2016
Accepted:
7 January 2017
Published:
22 February 2017
Abstract: The major problem confronting most human resources managers in organization is how can a job be designed or structured so that the employee’s performance can be enhanced and profitability increased. There is the need to understand that how workers responsibilities and duties are segmented helps to shape and determine virtually all other facets of organizational functioning. This research work has the objective of assessing the impact of work design on profit optimization of Nigerian commercial banks. The study adopted a survey research method and both primary and secondary sources of data were applied. Formulated hypotheses were tested using regression analysis. The findings of the study revealed that Work design enhances productivity in banks, Work design increases profitability, influences behavior, staff motivation and autonomy in banks. The study recommends that Work should be design to influence potential behavior in line with technological trends, and Management should endeavour to discourage the notion that work design exercises are carried out for performance evaluation purposes only. This can be done by laying more emphasis on training and retraining of staff to fit into ever changing information technology especially in banks.
Abstract: The major problem confronting most human resources managers in organization is how can a job be designed or structured so that the employee’s performance can be enhanced and profitability increased. There is the need to understand that how workers responsibilities and duties are segmented helps to shape and determine virtually all other facets of o...
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Innovation of Supply-Side of Agro-Products Under “Internet +”
Issue:
Volume 5, Issue 1, February 2017
Pages:
15-19
Received:
14 January 2017
Accepted:
25 January 2017
Published:
24 February 2017
Abstract: The Action Plan of “Internet +” is becoming an engine for Chinese economic development. In China rural, the Internet development speed is more faster than in city recently，the “New-farmers” continue to spring out, E-commerce of agro-products is emerging. The “Internet + Agriculture” optimizes farmers’ decision-making and investment behavior. Farmers can touch market directly; and outsource their cultivation services. The “Internet +agriculture” make consumers realize their personalized needs, advance bargaining power in the market. It is leading to an innovation of supply-demand sides of agro-products. The “Internet + agriculture” is bringing social welfare improvement. The social welfare comes from five aspects, connection dividend, division-specialization profits, increasing returns of knowledge, expanded value spaces and reduction costs. So, pushing Action Plan of the “Internet +” has a practical significance to build modern agriculture.
Abstract: The Action Plan of “Internet +” is becoming an engine for Chinese economic development. In China rural, the Internet development speed is more faster than in city recently，the “New-farmers” continue to spring out, E-commerce of agro-products is emerging. The “Internet + Agriculture” optimizes farmers’ decision-making and investment behavior. Farmer...
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Research on Intagible Assets and Goodwill Valuation
Issue:
Volume 5, Issue 1, February 2017
Pages:
20-24
Received:
1 March 2017
Published:
3 March 2017
Abstract: The process of valuation of intangible influences was surveyed in China, Hong Kong, USA, Canada, Japan, Germany, UK, Poland, Russia and Western Europe. Situation in mentioned locations is similar, valuation of intangible influences has not been determined by a concrete list of items and there has not been established concrete clear process. The subject matter of this thesis was a proposal for a method of valuation of goodwill - special effects that will impact assets prices. It deals with proposed procedures for valuation of intangible assets, and definitions of such property. Special effects are in particular name, historical value design, quality of layout, security aspects, accessibility, conflict groups of inhabitants in or near the property, location, provenience and other. The value of goodwill can be calculated as the difference between the market value and the material value. Part of the methodology is a general proposal for a method how to divide the assets into tangible and intangible part and author’s software VALUE-RATUS 2015.
Abstract: The process of valuation of intangible influences was surveyed in China, Hong Kong, USA, Canada, Japan, Germany, UK, Poland, Russia and Western Europe. Situation in mentioned locations is similar, valuation of intangible influences has not been determined by a concrete list of items and there has not been established concrete clear process. The sub...
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The Determinants of Private Commercial Banks Profitability: In the Case of Selected Ethiopian Private Banks
Issue:
Volume 5, Issue 1, February 2017
Pages:
25-35
Received:
19 July 2016
Accepted:
29 January 2017
Published:
4 March 2017
Abstract: The main objective of the paper is to analyze the impact of bank specific and macro-economic factors on the profitability of selected Ethiopian private commercial banks over the period of 2005 to 2014. To meet the objective, both descriptive and random effect panel econometrics method of data analysis has been employed. The study uses both return on asset (ROA) and return on equity (ROE) as a measurement for banks profitability. Private Banks profit after tax gets increasing year after year and their ROA is found to be three percent on average. The deposit share of private commercial banks reached above 30 percent in 2014, while it was only 10 percent in 2000. The panel econometrics result shows that, the variable bank size and GDP growth rate has a positive and significant impact on private commercial banks ROA and ROE. While, interest rate spread has a negative and significant impact. The variable Loan to deposit ratio has negative and significant impact on banks ROA while, it has no effect on their ROE. Inflation also an important variable in explaining ROA at 10% significant level but, it has no effect on ROE. The other important variable in explaining ROE is loan concentration index it has positive and significant impact on banks ROE. But, it does not significantly explain ROA. As a recommendation the significant and positive impact of Bank size can be taken as a good signal for commercial banks to merge and to have scale advantage. The significant impact of macro-economic variables in explaining banks profit is an indicator to designed policies that promote sustainable output growth and controlling inflation to have stable banking sector.
Abstract: The main objective of the paper is to analyze the impact of bank specific and macro-economic factors on the profitability of selected Ethiopian private commercial banks over the period of 2005 to 2014. To meet the objective, both descriptive and random effect panel econometrics method of data analysis has been employed. The study uses both return o...
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