scholarly journals Accounting reporting standards: attitudes toward cash flow reporting and the impact on share price

2019 ◽  
Vol 11 (1) ◽  
pp. 26
Author(s):  
Donna Whitten ◽  
Tantatape Brahmasrene
Keyword(s):  
Cash Flow ◽  
Share Price ◽  
Reporting Standards ◽  
The Impact

scholarly journals The impact of mandatory IFRS adoption on banks’ share prices: Evidence from the OECD countries

2021 ◽  
Vol 22 (11) ◽  
pp. 1310-1326
Author(s):  
Rustam R. ABDURAUPOV ◽  
Feruz N. SULTANOV ◽  
Abdulla G. IBRAGIMOV
Keyword(s):  
Financial Reporting ◽  
Oecd Countries ◽  
Ordinary Least Squares ◽  
Share Price ◽  
Reporting Standards ◽  
Information Risk ◽  
Share Prices ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
The Impact

Subject. The adoption of International Financial Reporting Standards (IFRS) was a significant milestone to unify financial reporting standards. However, there are many conflicting views regarding the impact of IFRS implementation on the investment attractiveness of banks. This put us on analyzing the sensitivity of changes in the equity securities market in terms of information risk and adoption of IFRS. Objectives. The article aims to explore the relationship between the harmonization of accounting and international standards and the banks’ share prices in eleven OECD countries by analyzing panel data within 1997–2015. Methods. For the study, we used a set of tests, such as the Ordinary Least Squares regression, Hausman specification test, Variance Inflation Factor, Unit Root test, Panel-Corrected Standard Error regression, and the Breusch-Pagan test. Results. The obtained results indicate a positive impact of the IFRS adoption on the change in prices for bank shares. In particular, changes in stock prices averaged 64 units. This is explained by the benefits of applying IFRS, which include positive investor expectations, improved financial reporting quality and comparability across countries, and reduced information risk. Conclusions. The hypothesis of bank share price increase after the IFRS adoption is true for the OECD countries.

scholarly journals International Financial Reporting Standards Adoption and Value Relevance of Financial Information of Quoted Healthcare Firms in Nigeria

2018 ◽  
Vol 5 (4) ◽  
pp. 174
Author(s):  
Taibat A. Atoyebi ◽  
Yinka M. Salaudeen ◽  
Jerry Y. A. Onyilokwu
Keyword(s):  
Financial Reporting ◽  
Asset Management ◽  
Value Relevance ◽  
Financial Information ◽  
Share Price ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Earnings Per Share ◽  
The Impact

International Financial Reporting Standards (IFRS) was first adopted in 2005 by European Union countries while Nigeria mandatorily adopted in 2012 to participate in opportunities offered by globalization. This study, therefore, investigated the impact of IFRS adoption on the value relevance of financial information of quoted Healthcare Firms in Nigeria. The study conducted a pre (2008-2011) and post (2012-2015) IFRS analyses on six Healthcare firms quoted on the Nigeria Stock Exchange. The study sourced data on Earnings per Share (EPS), Change in Earnings per Share (CEPS), Book Value per Share (BVPS) and Share Price (SP) from published annual reports of the quoted Healthcare firms and Cashcraft Asset Management. Using the Multiple regression model the study revealed that Pre- IFRS financial information is value relevant; Post-IFRS financial information is also value relevant; and Post-IFRS financial information has relative value relevance over Pre- IFRS financial information.

scholarly journals Cash Flow Bullwhip—Literature Review and Research Perspectives

Logistics ◽  
2021 ◽  
Vol 5 (1) ◽  
pp. 8
Author(s):  
Hicham Lamzaouek ◽  
Hicham Drissi ◽  
Naima El Haoud
Keyword(s):  
Literature Review ◽  
Customer Service ◽  
Cash Flow ◽  
State Of The Art ◽  
Research Work ◽  
Bullwhip Effect ◽  
Research Perspectives ◽  
Financial Perspective ◽  
The Impact ◽  
Exhaustive List

The bullwhip effect is a pervasive phenomenon in all supply chains causing excessive inventory, delivery delays, deterioration of customer service, and high costs. Some researchers have studied this phenomenon from a financial perspective by shedding light on the phenomenon of cash flow bullwhip (CFB). The objective of this article is to provide the state of the art in relation to research work on CFB. Our ambition is not to make an exhaustive list, but to synthesize the main contributions, to enable us to identify other interesting research perspectives. In this regard, certain lines of research remain insufficiently explored, such as the role that supply chain digitization could play in controlling CFB, the impact of CFB on the profitability of companies, or the impacts of the omnichannel commerce on CFB.

scholarly journals Study on Companies from the Energy Sector from the Perspective of Performance through the Operating Cash Flow

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3667
Author(s):  
Claudia Diana Sabău-Popa ◽  
Luminița Rus ◽  
Dana Simona Gherai ◽  
Codruța Mare ◽  
Ioan Gheorghe Țara
Keyword(s):  
Labor Productivity ◽  
Cash Flow ◽  
Stock Exchange ◽  
Average Duration ◽  
Significant Negative Correlation ◽  
Cash Flows ◽  
Energy Sector ◽  
Or Management ◽  
Operating Cash Flow ◽  
The Impact

In this paper we analyzed the link between companies’ performance, in terms of cash and income, and the labor productivity or management rates, in case of the companies from the energy sector listed on the Bucharest Stock Exchange. We focused on the energy sector because of the impact that its expansion has on the evolution of economies around the world and because of its dynamics in the sense of gradually shifting to the use of energy from renewable sources. We have used panel regression models to analyze the operating cash flow and the profitability rates and the determination of a causal or dependency relationship with labor productivity or management rates. The results of this study show a significant negative correlation between operating cash flows and the average duration of stock rotation, and no correlation between productivity and the operating cash flow. Instead, the average duration of stock turnover does not at all influence the profitability rates, and productivity is always significant for the return on assets, ie forthe return on equitywith a positive coefficient, as expected. The gap between the average duration of payment of suppliers and the average duration of receivables does not significantly influence neither the cash flow nor the rates of return.

The impact of intellectual capital on firm performance: a study of Indian firms listed in COSPI

2018 ◽  
Vol 19 (5) ◽  
pp. 935-964 ◽  
Author(s):  
Neha Smriti ◽  
Niladri Das
Keyword(s):  
Firm Performance ◽  
Intellectual Capital ◽  
Value Creation ◽  
Generalized Method Of Moments ◽  
Value Added ◽  
Secondary Data ◽  
Share Price ◽  
Content Type ◽  
Listed Firms ◽  
The Impact

Purpose The purpose of this paper is to examine the effect of intellectual capital (IC) on financial performance (FP) for Indian companies listed on the Centre for Monitoring Indian Economy Overall Share Price Index (COSPI). Design/methodology/approach Hypotheses were developed according to theories and literature review. Secondary data were collected from Indian companies listed on the COSPI between 2001 and 2016, and the value-added intellectual coefficient (VAIC) of Pulic (2000) was used to measure IC and its components. A dynamic system generalized method of moments (SGMM) estimator was employed to identify the variables that significantly contribute to firm performance. Findings Indian listed firms appear to be performing well and efficiently utilizing their IC. Overall, human capital had a major impact on firm productivity during the study period. Furthermore, the empirical analysis showed that structural capital efficiency and capital employed efficiency were equally important contributors to firm’s sales growth and market value. The growing importance of the contribution of IC to value creation was consistently reflected in the FP of these Indian companies. Practical implications This study has robust theoretical grounds and employs a validated methodology. The present study extends knowledge of IC among academicians and managers and highlights its contribution to value creation. The findings may help stakeholders and policymakers in developing countries properly reallocate intellectual resources. Originality/value This study is the first study to evaluate IC and its relationship with traditional measures of firm performance among Indian listed firms using dynamic SGMM and VAIC models.

Australian Biotechnology: A 10-Year Study of Investor Performance

2021 ◽  
Vol 26 (4) ◽  
Author(s):  
Peter L. Molloy ◽  
Lester W. Johnson ◽  
Michael Gilding
Keyword(s):  
Drug Development ◽  
Global Financial Crisis ◽  
Critical Mass ◽  
Share Price ◽  
Annual Growth Rate ◽  
Compound Annual Growth Rate ◽  
Listed Firms ◽  
Investor Returns ◽  
The Global Financial Crisis ◽  
The Impact

A recent study assessed the investor performance of the Australian drug development biotech (DDB) sector over a 15-year period from 2003 to 2018. The current study builds on that research and extends the analysis to 2020, using a 10-year period starting 2010, to exclude the impact of the global financial crisis in 2008/09. Based on a value-weighted portfolio of all 41 DDB firms, the overall sector delivered a negative annualized return of -4.1%. Individual firm performance was also assessed using the compound annual growth rate (CAGR) in share price over the period as a measure of investor outcomes. On this basis 68% of firms produced negative CAGRs over the period, and of the 32% of firms that produced positive CAGRs, six firms produced CAGRs greater than 20% per annum and in three cases of recently-listed firms, the CAGR’s were greater than 50%. Overall however, the sector overall delivered very poor investor returns and despite a relatively large number of listed biotech firms, Australian biotechnology continues to be small and weak in terms of its contribution to global biotechnology industrialization. As such it lacks the critical mass to grow a robust bioeconomy based on drug development, which remains the standard-bearer of biotechnology industrialization.

Sign in / Sign up

Export Citation Format

Share Document