R&D investment, management entrenchment and governance mechanisms: evidence from French listed companies on SFB120 index

2016 ◽  
Vol 6 (3) ◽  
pp. 197
Author(s):  
Sana Triki Damak ◽  
Khamoussi Halioui
Keyword(s):  
Listed Companies ◽  
Investment Management ◽  
Governance Mechanisms ◽  
Management Entrenchment ◽  
D Investment

scholarly journals R&D value of Chinese manufacturing listed companies

2018 ◽  
Vol 1 (2) ◽  
pp. 241-262
Author(s):  
An Tongliang ◽  
Wang Wenyi
Keyword(s):  
Investor Sentiment ◽  
Listed Companies ◽  
Developed Countries ◽  
Chinese Stock Market ◽  
Content Type ◽  
Enterprise Value ◽  
Asset Value ◽  
Value Model ◽  
D Investment ◽  
D Value

Purpose The way to measure the value of an enterprise’s R&D investments remains elusive for theoretical and empirical study on innovation economics. The paper aims to discuss this issue. Design/methodology/approach This paper expands the asset-value model pioneered by Griliches (1981) and applies it for the first time to the Chinese stock market to calculate the value of R&D investment instilled by Chinese manufacturing listed companies (CMLCs) from 2003 to 2014. Findings The authors find that: the assets-value model can better explain the enterprise value composition of CMLCs; with equal input, the value of R&D is higher than that of tangible assets, and lower than that of organizational assets; compared with the developed countries, the R&D value of CMLCs is lower; and the R&D value of CMLCs saw a downward trend from 2007 to 2014. Originality/value Furthermore, by rationally estimating the value of organizational assets and non-tradable shares, and innovatively introducing semi-annual momentum indicators from the perspective of behavioral finance to control the influence of investor sentiment on enterprise value, this paper tries to develop the asset-value model and provides a feasible solution to the problem of measuring the value of Chinese enterprises’ R&D investment.

The chief financial officer (CFO) profile and R&D investment intensity: evidence from listed European companies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gianluca Ginesti ◽  
Rosanna Spanò ◽  
Luca Ferri ◽  
Adele Caldarelli
Keyword(s):  
Listed Companies ◽  
Master Of Business Administration ◽  
Chief Financial Officer ◽  
Corporate Investments ◽  
Firm Level ◽  
Content Type ◽  
Doctor Of Philosophy ◽  
The Impact ◽  
D Investment ◽  
Practical Implications

PurposeThis study aims to investigate whether the characteristics of the chief financial officer (CFO) have an impact on the intensity of the corporate research and development (R&D) investment.Design/methodology/approachBased on hand-collected data for the CFOs of a sample of the largest European listed companies for the period 2013–2016, this study uses regression analyses to test empirically the association of CFO education, CFO gender and CFO age with R&D investment intensity.FindingsThe presence of female CFOs, CFOs with a Master of Business Administration (MBA) or Doctor of Philosophy (PhD) degree and older CFOs is positively associated with the intensity of R&D investment.Research limitations/implicationsThis study relies on some observable characteristics of CFOs and focuses on large listed companies.Practical implicationsThe results of this study may help investors, stakeholders and practitioners to understand better which type of CFO characteristics are more likely to result in higher firm-level R&D investment intensity.Originality/valueThis study offers the first insights into the impact of CFOs, as the most prominent C-suite executives, on the level of corporate investments in R&D activity.

Corporate governance and R&D investment by European listed companies

2020 ◽  
Vol 115 ◽  
pp. 289-295 ◽  
Author(s):  
Ricardo Rodrigues ◽  
António Samagaio ◽  
Teresa Felício
Keyword(s):  
Corporate Governance ◽  
Listed Companies ◽  
D Investment

scholarly journals The Impact of Corporate Governance on Working Capital Management Efficiency: Evidence from the Listed Companies in the Consumer Services Sector in Botswana

2018 ◽  
Vol 10 (12) ◽  
pp. 135
Author(s):  
Sathyamoorthi C. R. ◽  
Christian J. Mbekomize ◽  
Mogotsinyana Mapharing ◽  
Popo Selinkie
Keyword(s):  
Corporate Governance ◽  
Listed Companies ◽  
Capital Management ◽  
Working Capital ◽  
Governance Mechanisms ◽  
Working Capital Management ◽  
Management Efficiency ◽  
Corporate Governance Mechanisms ◽  
The Impact ◽  
Moderate Relationship

The paper presents the findings of the analysis of the impact of corporate governance mechanisms on working capital management efficiency in the listed companies of the Consumer service sector in Botswana. Eight corporate governance elements and seven working capital components were extracted from the annual reports of a sample of six companies for the period 2012 to 2017 for the analysis. Thirty six observations were obtained. Pearson correlations were executed to determine the relationship between corporate governance elements and working capital components. OLS regression analysis was performed to establish the explaining power of the combination of corporate governance elements on each of the working capital components. The correlation analysis shows that number of non-executive directors has a significant negative but moderate relationship with cash conversion cycle and number of board subcommittees has significant positive but moderate relationship with Debt ratio. The regression results suggest that corporate governance mechanisms have a significant impact on working capital management, the highest impact being reflected on inventory conversion period. The implications of these findings are that boards of directors have a significant role to play in working capital management efficiency of the companies they govern. They should therefore continue providing attainable policies on working capital management and remain vigilant on demanding feedback on their implementations.

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