The impact of financial performance on environmental policy: does firm life cycle matter?

2009 ◽  
Vol 18 (6) ◽  
pp. 397-413 ◽  
Author(s):  
Khaled Elsayed ◽  
David Paton
Keyword(s):  
Life Cycle ◽  
Environmental Policy ◽  
Financial Performance ◽  
Firm Life Cycle ◽  
The Impact

scholarly journals Investigating the Path from Supply Chain Integration to Business Performance: Evidence from a Sub-Saharan African Economy

2016 ◽  
Vol 11 (6) ◽  
pp. 225 ◽  
Author(s):  
Jonathan Annan ◽  
Nathaniel Boso ◽  
Dominic Essuman
Keyword(s):  
Supply Chain ◽  
Life Cycle ◽  
Financial Performance ◽  
Value Creation ◽  
Coming Out ◽  
Product Life Cycle ◽  
Business Performance ◽  
Supply Chain Integration ◽  
Primary Data ◽  
The Impact

Following the growing concerns on the inconsistent findings in previous research and drawing on the social exchange and networking theories, this study re-examined the impact of supply chain integration (SCI) on business performance (i.e. value creation and financial performance). The study argues that the impact of SCI on financial performance is through value creation and is depended upon longevity of product life cycle. Using primary data from 79 firms in Ghana, the study finds that value creation is a short-run consequence of SCI while financial performance is a long-run outcome of SCI. Additionally, results show that the financial performance outcome of SCI is experienced more from integrative efforts than from the value creation outcome. Results further indicate that firms whose products stay relatively shorter on the market are more likely to experience lower positive impact of SCI on value creation, and thus firms’ ability to become proactive, monitor, and collect market information on product performance throughout its life cycle is key for coming out with strategies that will enable them maximize product’s life span so as to experience greater benefits that come with pursuing integration with other channel members.

scholarly journals The Interplay between Working Capital Management and a Firm’s Financial Performance across the Corporate Life Cycle

2020 ◽  
Vol 12 (4) ◽  
pp. 1661 ◽  
Author(s):  
Zanxin Wang ◽  
Minhas Akbar ◽  
Ahsan Akbar
Keyword(s):  
Life Cycle ◽  
Firm Performance ◽  
Financial Performance ◽  
Life Cycle Stage ◽  
Capital Management ◽  
Working Capital ◽  
Working Capital Management ◽  
Conservative Strategy ◽  
Corporate Life Cycle ◽  
The Impact

The purpose of this study is to examine the impact of working capital management (WCM) and working capital strategy (WCS) on firm’s financial performance across different stages of the corporate life cycle (CLC). We use Pakistani non-financial listed firms nested in 12 diverse industries over a period of 2005–2014 as the research sample and employ the hierarchical linear mixed (HLM) estimator, which can process multilevel data where observations are not completely independent. The empirical findings reveal that, overall, WCM is negatively associated with firm performance. However, this association is not static across different stages of a firm’s life cycle. For example, a negative association is more pronounced at the introduction stage followed by growth and decline stages, whereas WCM does not significantly impact the performance of mature firms. Likewise, WCS also causes varying effects on the financial performance across the CLC. A conservative strategy at the introduction, growth, and decline stages negatively affects firm performance, suggesting that these firms should adopt an aggressive strategy. Nevertheless, management of sample firms did not account for the respective life cycle stage while formulating a WCM strategy, which can seriously compromise their financial sustainability. These findings suggest that firms require customized WCM policies and WCS to attain sustainable financial performance at each stage of firm life cycle. Thus, managers should not overlook the significant role of CLC stages in their financial planning to ensure the sustainable functioning of the enterprise.

Corporate governance guidelines compliance and firm financial performance

2016 ◽  
Vol 31 (8/9) ◽  
pp. 891-914 ◽  
Author(s):  
Erick Rading Outa ◽  
Nelson M. Waweru
Keyword(s):  
Corporate Governance ◽  
Life Cycle ◽  
Firm Performance ◽  
Financial Performance ◽  
Firm Value ◽  
Design Methodology ◽  
Content Type ◽  
Firm Financial Performance ◽  
The Impact ◽  
The Relationship

Purpose This paper aims to examine the impact of compliance with corporate governance (CG) guidelines during the period 2002-2014 on firm financial performance and firm value of Kenyan-listed companies. Design/methodology/approach Using panel data of 520-firm year’s observations between 2005 and 2014, the authors test the hypothesis that compliance with CG guidelines issued in 2002 by Capital Markets Authority (CMA) improved firm financial performance and firm value. Findings Compliance with CG Index which is an aggregate of all the CG guidelines is positively and significantly related to firm performance and firm value. Board evaluation is also positively and significantly related to firm performance. The findings suggest that CG guidelines are associated with firm financial performance and firm value. Originality/value The authors provide evidence on the relationship between CG practices and firm financial performance and firm value in Kenya. Second, the authors provide evidence on board evaluation which has not been tested before in a “comply or explain” environment. Finally, they evaluate how CMA 2002 CG guidelines steered firm financial performance and firm value over its life cycle from 2002 to 2014. These results are important to CMA and other CG regulators and boards in their efforts to improve CG practices in the region.

scholarly journals Firm Life Cycle and Financial Performance: Evidence from Nigeria

2020 ◽  
Vol 6 (3) ◽  
pp. 723-732
Author(s):  
Onipe Adabenege Yahaya ◽  
Joseph Majiyebo Onyabe
Keyword(s):  
Life Cycle ◽  
Financial Performance ◽  
Analytical Techniques ◽  
Annual Reports ◽  
Maturity Stage ◽  
Critical Stage ◽  
Design Data ◽  
Listed Firms ◽  
Firm Life Cycle ◽  
Correlational Research

Despite being a considerably essential instrument or mechanism in understanding modern organizations, a greater number of the life cycle literature is conceptually rather than empirically established. There are limited scholarly works in Nigeria about whether firm life cycle has any bearing on financial performance. This study has filled a lacuna in the nexus between firm life cycle and financial performance. It examines the effects of firm life cycle on financial performance of 91 listed firms in Nigeria over a ten-year period (2010-2019) using a correlational research design. Data were collected from the annual reports and accounts of the sampled firms and analysed using descriptive (mean, standard deviation, minimum mean and maximum mean) and inferential analytical techniques (Pearson Product Moment Correlation and Multiple Regression Analysis). We find maturity stage to have positive and significant effect on financial performance. However, we fail to find any significant effect at introductory stage, growth stage and shake-out stage. The study, therefore, concludes that the business stage of maturity is the most critical stage in financial performance consideration. The study recommends among others that managers should pay greater attention to their businesses, particularly during the period of maturity to avoid shakeout or decline.

scholarly journals The effect of firm life cycle on profitability: Evidence from Jordanian firms

2021 ◽  
pp. 1919-1926
Author(s):  
Abdullah Aldaas
Keyword(s):  
Life Cycle ◽  
Performance Measure ◽  
Mature Stage ◽  
Current Ratio ◽  
Firm Life Cycle ◽  
Life Cycle Stages ◽  
Time Period ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Impact

Profitability is an important performance measure and a related study based on the life cycle of firms is appreciated by researchers and managers. The impact of the financial crisis adds novelty to such research. This study discusses the impact of financial ratios on profitability of firms under the influence of financial crises. It is based on a sample of 42 Jordanian firms and uses panel data regression on an annual dataset for the time period 2000-2018. The study found mature stage firms to be explained best with the suggested model. The impact of current ratio on the profitability of all companies was observed as positive while the profitability is found to be negatively affected by debt for all life cycle stages except for the declining stage. Also, it is found that the declining stage firms need to rely on debt to stay profitable and sustain.

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