This study aims to investigate the relationship between company reputation and the implied cost of capital in Korean companies from 2003 to 2016, based on research by Cao et al. (2015). In addition, we would like to examine the effect of tax avoidanc...
This research examines the relationship between capital structure, intellectual capital, and financial performance among insurance companies in Sub-Saharan Africa (SSA). Anchored in a positivist paradigm, the study employed descriptive and quantitati...
The purpose—The aim of this paper is to explain the relationship between working capital and profitability in the context of the wine industry. Design/methodology/approach—Artificial neural networks were used to analyze the relationship b...
The aim of this article was to present the results of empirical research conducted in enterprises of all sizes operating in Poland and Central Europe. The study focused on the impact of relational capital on the prevention of and intervention in the...
The purpose of this study is to investigate the role of capital structure as mediating variable in the relationship between corporate governance and company performance. Data for this study was obtained from financial statements and was done in Indon...
In order to reconsider the changes of adjustment speed caused by the recapitalization cost, this research adopted dynamic capital structure theory with adjustment speed as one of the independent variables to analyze the relationship between capital s...
So far, CSR’s role in the high-tech industry is not fully explained by academic research, especially concerning the most burdensome obstacle to firms’ growth: acquiring debt financing. The paper aims to solve this puzzle and investigate whether young...
This article considers the impact of self-sufficiency in basic raw materials on the level of systematic risk, required return and capitalization on the example of Russian ferrous metallurgy companies. The methods applied include classical approaches...
Corporate social responsibility (CSR), ethics, and sustainability have become an inseparable part of the discourse of modern business. Applying linear regression and comparison of intervals of beta-coefficients, we focused on the mediating role of CS...
Intellectual Capital (IC) stimulates corporate competitive advantages that can enhance firm performance and sustainable growth (SG). This study investigates IC’s affinity with and impact on accounting and market performance and SG of listed non...
This paper aims to emphasize the quantification of intellectual capital, not disclosed on the assets side of the balance sheet in the smart and knowledge-based enterprise, because it is very important for the more precise quantification of the profit...
The objective of this paper is to examine the relationship between intellectual capital (IC) and firms’ financial leverage by exploring whether firm profitability mediates this relationship, using a dataset of Chinese agricultural listed compan...
The paper analyzes the influence of sustainable growth (SGR) as a reflection of the manner of strategic business organization, particularly in the quality of reported financial information (magnitude of discretionary accruals—DAC) as an express...
The primary aim of this research is to investigate the influence of environmental, social, and governance (ESG) disclosures on the market reaction companies listed in Thailand’s alternative capital market, specifically the Market for Alternativ...
Credit risk rating is shown to be a relevant determinant in order to estimate good corporate governance and to self-optimize capital structure. The conclusion is argued from a study on a selected (and justified) sample of (182) companies listed on th...
To expand the applicability in practice of the modern theory of cost and capital structure, the theory of Brusov–Filatova–Orekhova (BFO), which is valid for companies of arbitrary age, is generalized for the case of variable income. The generalized t...
Both main theories of capital cost and capital structure—the Brusov–Filatova–Orekhova (BFO) theory and its perpetuity limit, the Modigliani–Miller theory—consider the payments of tax on profit once per year, while in real economy these payments are m...
Social capital is currently perceived as one of the basic factors of economic development and economic success of enterprises. However, while there is already much research on social capital in enterprises, there has been little such research in the...
This paper explores the role of social capital in contributing to the success of a new breed of organizations known as ‘blank check companies’ or special purpose acquisition companies (SPACs) that are set up solely to target and acquire l...
The modern capital cost and capital structure theory—the Brusov–Filatova–Orekhova (BFO) theory and its perpetuity limit, the Modigliani–Miller theory—describe the case of the payments of income tax at the end of the year. However, in practice, compan...
The aim of the present study is to assess the impact of structural capital intensity and utilization on firm profitability in an international setting: the European Union countries, plus Norway, Switzerland and the United Kingdom. The indicators are...
The implementation of good governance and attention to resources will affect company survival. The purpose of this study was to examine the effect of good corporate governance and intellectual capital on financial performance and company value throug...
This article aims to show how the globalized securities market in general and a transnational legal business structure named variable interest entity (VIE) in particular has challenged our conventional understanding of “foreignness” as a...
Corporate groups consist of a set of companies, often described as subsidiaries, which are usually controlled by one single entity, the parent or holding company. The term control means the parent company’s rights to direct the relevant activit...
Two modifications of a modern theory of capital structure—the Brusov–Filatova–Orekhova (BFO) theory—with variable income are considered: (1) with the income tax payments at the end of periods and (2) with advance income tax pa...
15 December 2022
There is a shortage of research investigating the link between employee development practices and intellectual capital as mediated by knowledge management. The aim of the current research was to consider the influence of employee development practice...
Working capital management is a crucial pillar in corporate finance. The performance of transport companies can be improved by efficient working capital management through cash management, inventory management, and receivables management. This approa...
For the first time we have generalized the world-famous theory by Nobel Prize winners Modigliani and Miller for the case of variable profit, which significantly extends the application of the theory in practice, specifically in business valuation, ra...
The mission statements of companies reflect the characteristics of their country. There are differences in the content of mission statements between traditional and innovative companies. The sustainable growth of companies has recently become a major...
The objective of this document is to analyze different methods that an insurer can use to allocate capital to his or her different lines of business or business segments under Solvency II. For this analysis, a review of the main methods developed in...
This work provides a novel approach to the corporate social responsibility (CSR) concept and to CSR activities, using social capital as the driver of consumer citizenship behavior in the sharing economy business system. An online consumer questionnai...
Researchers in developed countries have questioned whether share repurchase activity influences internal investment. The aim of this study was to investigate the relationship between share repurchases and internal investment (defined as capital expen...
This paper examines the association between capital structure and firm profitability through the moderating effect of firm size. The analysis of financing choice and firm profitability in developing countries is interesting because of the differences...
The study analyses the impact of financial reputation on the cost of debt financing for Indian companies. In doing so, panel regression analysis is performed using firm-specific data on 395 Indian listed firms covering 2002–2017. The paper uses...
Intellectual capital (IC) is considered to be a main driver of organizational success in the knowledge economy. This study examines the impacts of three IC components, including human capital (HC), structural capital (SC), and relational capital (RC)...
Public Housing Companies (PHCs) play an important role in the Swedish housing market, with approximately 300 companies managing circa 802,000 dwellings. The public housing sector thereby represents almost 20 percent of the total housing stock in Swed...
The capital structure and its indicators play a significant role in corporate finance. The aim is to estimate business performance using selected indicators describing primarily the capital structure, asset structure, or liquidity of transport compan...
This paper proposes and tests a methodology for evaluating the human capital of oil and gas industry enterprises. The methodology is based on previously developed mathematical and test tools, with enhancements to support decision-making in human capi...
Intelligent transformation plays a crucial role in advancing sustainable development in manufacturing while also enhancing the information environment. This study examines the role of intelligent transformation in China’s manufacturing sector,...
In the capital market and financing theory, we are currently observing major upheavals. For decades, the neoclassical paradigm has dominated in science and practice. Triggered by economic and political crises, transformations, the COVID-19 pandemic,...
The objective of this study is to analyze the impact of intellectual capital (IC) and its components on firm financial performance using data from Chinese agricultural listed companies during 2015–2020. The moderating role of board diversity in...
The main purpose of the current study is the generalization and further development of the Modigliani–Miller theory taking into account one of the conditions of the real functioning of companies for the case of paying income tax with an arbitrary fre...
Capital structure plays an important role in corporate finance, especially in the period of restrictive monetary policy in many developed countries. This paper aims to estimate the debt ratio based on five selected financial indicators: tangibility,...
Digital innovation is the key for enterprises to obtain core competitiveness in today’s increasingly fierce market environment. Based on a sample of high-tech manufacturing companies listed in the Shanghai and Shenzhen A-shares from 2011 to 202...
At first glance, it might seem that the economic aspects of sustainability in terms of waste management have resolved themselves already in areas of activity. In reality, however, companies in this area also need to address how to ensure their future...
The purpose of this study is to explain the justification for taxing corporate rents as a funding source for Sustainable Development Goals (SDGs), and to calculate a normative corporate tax rate that takes into account rents for corporations, especia...
The manufacturing industry makes a significant contribution to Russia’s GDP and exports, but it faces problems that hinder its development. The aim of this study is to estimate the relationship between intellectual capital and performance indic...
This paper aims to identify the costs of capital in a group of companies from the energy sector by including an investor and market risk approach. The study also concerns the company’s Weighted Average Cost of Capital (WACC) cost intra-industry analy...
The purpose of this research was to determine the impact of Green Intellectual Capital practices on the competitive advantages of companies in Poland. The study included 150 Polish producing enterprises located across Poland. The first stage of the a...
8 April 2020
In her study of ‘Surveillance Capitalism’, Shoshana Zuboff cites Google’s parent firm Alphabet’s legal customer-purchase agreement for the parent firm’s Nest thermostats. These impose ‘oppressive privacy and securi...
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