scholarly journals The Impact of Cross-Shareholding Networks on Financing Constraints --Empirical Data from Manufacturing Companies

CONVERTER ◽  
2021 ◽  
pp. 408-415
Author(s):  
Qing Xia, Hua Li, Qiubai Sun
Keyword(s):  
Financing Constraints ◽  
Manufacturing Companies ◽  
Structural Holes ◽  
Chinese Enterprises ◽  
Financing Constraint ◽  
The Social ◽  
Network Method ◽  
The Cross ◽  
The Impact ◽  
The Relationship

As the financial markets have evolved, the cross-shareholding networks have been formed among Chinese enterprises with equity as the concluded relationship. Exploring the impact of the cross-shareholding networks on financing constraints has important implications for the decisions of manufacturing companies. This paper uses the social network method to characterize the cross-shareholding networks of manufacturing companies from 2007 to 2019 and explores the effects of the cross-shareholding networks on financing constraints. The innovation of this paper is to explore the relationship between the two. It is concluded that the centrality or structural holes richness of manufacturing companies in the cross-shareholding network is inversely related to the financing constraint. The higher the centrality or the richer the number of structural holes, the lower the level of financing constraints.

PENGARUH FAMILY OWNERSHIP, PERUBAHAN TARIF PAJAK DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Elfina Astrella Sambuaga
Keyword(s):  
Ownership Structure ◽  
Tax Reform ◽  
Stock Exchange ◽  
Family Ownership ◽  
Corporate Debt ◽  
Tax Rates ◽  
Manufacturing Companies ◽  
The Impact ◽  
The Relationship ◽  
Debt Policy

<p>This study aims to provide empirical evidence related to the influence of family ownership, tax reform on corporate debt policy, and further prove the impact on the firm value.This study examined the effect of changes in tax rates in 2009 and 2010 on the relationship between family ownership structure and corporate debt policy. The population of this research is manufacturing companies listed in Indonesia Stock Exchange for 8 consecutive years (2006-2013), with the period of observation for 7 years (2007-2013). A period of 8 years was taken to see a company that is consistently listed on the Stock Exchange prior to the end of the observation period. The result of this study shows that tax reform from progressive tax rates to a flat rate does not affect the relationship between family ownership structure and corporate debt policy. In contrast to the year 2009, changing rate from 28% to 25% in late 2010 was a significant effect on the debt policy with the company of family ownership. Based on the results, it was found that family ownership and debt policy significantly affect the company's enterprise value. It can be concluded, the higher the family ownership, the company's value would be diminished. Instead, the company's value will increase when the company adds to its debt policy.</p><p>Keywords : debt policy, family ownership, firm value, tax reform.</p>

Social comparison orientation and mental health: The mediating role of psychological capital

2020 ◽  
Author(s):  
Guoliang Yang ◽  
Zhihua Wang ◽  
Weijiong Wu
Keyword(s):  
Mental Health ◽  
Social Comparison ◽  
Psychological Capital ◽  
Mediating Effect ◽  
Mediating Role ◽  
The Social ◽  
Social Comparison Orientation ◽  
Using Data ◽  
The Impact ◽  
The Relationship

Little is known about the relationship between social comparison orientation and mental health, especially in the psychological capital context. We proposed a theoretical model to examine the impact of ability- and opinion-based social comparison orientation on mental health using data from 304 undergraduates. We also examined the mediating effect of the four psychological capital components of hope, self-efficacy, resilience, and optimism in the relationship between social comparison orientation and mental health. Results show that an ability (vs. opinion) social comparison orientation was negatively (vs. positively) related to the psychological capital components. Further, the resilience and optimism components of psychological capital fully mediated the social comparison orientation–mental health relationship. Our findings indicate that psychological capital should be considered in the promotion of mental health, and that the two social comparison orientation types have opposite effects on psychological capital.

The impact of Guanxi on Chinese managers' transactional decisions: A study of Taiwanese SMEs

2005 ◽  
Vol 24 (3) ◽  
pp. 215-222
Author(s):  
William Li Chang ◽  
Peirchyi Lii
Keyword(s):  
Competitive Advantage ◽  
Chinese Enterprises ◽  
Important Impact ◽  
Guanxi Network ◽  
The Impact ◽  
The Relationship ◽  
Chinese Managers

Guanxi is an important source of competitive advantage; managers in Chinese enterprises have especially placed enormous emphasis on it. The purpose of this study is to investigate the relationship between managers' initiative toward a Guanxi formation and their transactional decisions within the network. Findings of this study suggest that managers' initiative in setting up a Guanxi network has important impact on their perceptions toward members in the network; and in turn, the perception has an impact on their transactional decisions within the Guanxi network. More specifically, managers would employ relational mark-down and compensatory mark-up to differentiate Guanxi members from non-Guanxi members in making transactional decisions.

scholarly journals Do the Green Credit Guidelines Affect Corporate Green Technology Innovation? Empirical Research from China

2021 ◽  
Vol 18 (4) ◽  
pp. 1682
Author(s):  
Min Hong ◽  
Zhenghui Li ◽  
Benjamin Drakeford
Keyword(s):  
Technology Innovation ◽  
Green Technology ◽  
Debt Financing ◽  
Financing Constraints ◽  
Difference Model ◽  
Financing Constraint ◽  
Important Means ◽  
Regulatory Commission ◽  
The Impact ◽  
Innovation Policies

Green technology innovation is regarded as an important means to achieve sustainable development. Countries all over the world mainly implement green technology innovation policies from the aspects of environmental regulation and financing constraints. The effect of financing constraint policy on enterprise green technology innovation remains to be investigated. Based on the event of “green credit guidelines” issued by China Banking Regulatory Commission in 2012, this paper collects the panel data of China’s 2825 listed companies from 2007 to 2018, constructs a difference-in-difference model, and studies the impact of green credit guidelines on corporate green technology innovation and its mechanism. The empirical results show: First, green credit guidelines can promote corporate green technology innovation on the whole. Second, the mechanism of green credit on enterprise green technology innovation is identified. Green credit guidelines mainly limited green technology innovation through reducing debt financing, rather than through financing constraints. Third, the impact of green credit guidelines on green technology innovation is heterogeneous. Green credit guidelines have a significant effect on the green technology innovation of state-owned and large enterprises, but have no effect on the green technology innovation of non-state-owned and small ones.

scholarly journals Effect of Train-Induced Wind on the Transmission of COVID-19: A New Insight into Potential Infectious Risks

2021 ◽  
Vol 18 (15) ◽  
pp. 8164
Author(s):  
Simin Zou ◽  
Xuhui He
Keyword(s):  
Social Distance ◽  
Quantitative Research ◽  
Virus Transmission ◽  
Passenger Safety ◽  
The Social ◽  
Gaussian Puff ◽  
The Impact ◽  
The Relationship ◽  
Fresh Insight ◽  
Moving Train

The unprecedented COVID-19 pandemic has caused a traffic tie-up across the world. In addition to home quarantine orders and travel bans, the social distance guideline of about six feet was enacted to reduce the risk of contagion. However, with recent life gradually returning to normal, the crisis is not over. In this research, a moving train test and a Gaussian puff model were employed to investigate the impact of wind raised by a train running on the transmission and dispersion of SARS-CoV-2 from infected individuals. Our findings suggest that the 2 m social distance guideline may not be enough; under train-induced wind action, human respiratory disease-carrier droplets may travel to unexpected places. However, there are deficiencies in passenger safety guidelines and it is necessary to improve the quantitative research in the relationship between train-induced wind and virus transmission. All these findings could provide a fresh insight to contain the spread of COVID-19 and provide a basis for preventing and controlling the pandemic virus, and probe into strategies for control of the disease in the future.

scholarly journals Political Instability and Growth: Case of the Developing Countries

2013 ◽  
Vol 2 (1) ◽  
pp. 19
Author(s):  
Said JAOUADI ◽  
Lamia ARFAOUI ◽  
Azza ZIEDI
Keyword(s):  
Developing Countries ◽  
Empirical Investigation ◽  
Political Instability ◽  
Political Environment ◽  
Huge Number ◽  
Effective Governance ◽  
The Social ◽  
The Stability ◽  
The Impact ◽  
The Relationship

The paper attempted to examine the causal relationship between political instability and growth. Currently, the world continues to record huge number of popular revolutions in the region MENA, to improve the social environment and to consolidate implementing an effective governance. Although, the uprising has harmed the financial and economic situation in these countries, and became a threat for the stability of the countries, in overall.The manuscript accounts for the impact of political instability on the growth of the developing countries, in the shadow of the widespread of the revolutions since 2011. The paper attempted to illuminate the reality of the relationship between political environment and growth through the estimation of panel, comprising 69 developing countries 1985-2012.In the current paper, the authors conducted an empirical investigation, in which we bore out the claims raised in many surveys and the conclusions drawn by several authors about the harmful impact of political instability on the fundamental bases of the economy, in countries recording political instability.

scholarly journals Simulation of the impact of economic development on social development of the country

2020 ◽  
Vol 18 (3) ◽  
pp. 37-54
Author(s):  
Olena Rayevnyeva ◽  
Iryna Aksonova ◽  
Olha Brovko ◽  
Stanislav Filip
Keyword(s):  
Economic Development ◽  
Social Development ◽  
Economic Condition ◽  
Statistical Research ◽  
The Social ◽  
Main Components ◽  
Algorithmic Model ◽  
The Impact ◽  
The Relationship ◽  
Significant Factors

In the current conditions of development of the international and national economy, an important task of statistical research is to conduct an objective and timely assessment and modeling of the relationship between indicators of economic and social development. Based on the results of these studies, reasonable management influences of the state on the adjustment and regulation of the country’s development are accepted. The article is devoted to the study of the relationship between the main components of economic and social development of the country and the construction of a set of models for forecasting the prospects of the country. The object of the study is the socio-economic condition of the country. The article proposes an algorithmic model for assessing the impact of economic development on society, which allows to identify key economic indicators that influence and shape the social development of the country. The practical value of the algorithmic model is to develop a system of evaluation and selection as a result of modeling the most significant factors that shape the social development of the country. The study confirmed the hypothesis of the dominant impact of economic development on society and determined that the main economic factors are the level of competencies that satisfy the modern labour market, technical development of businesses and their competitiveness in markets.

scholarly journals The Impact of Covid-19 On State-Religion Relations: A Study On Israel And Iran

2021 ◽  
Vol 11 (2) ◽  
pp. 169-188
Author(s):  
Sevinç Alkan Özcan ◽  
Muhammed Hüzeyin Mercan
Keyword(s):  
State Intervention ◽  
Religious Groups ◽  
Religious Traditions ◽  
Mass Gatherings ◽  
Public Events ◽  
Global Pandemic ◽  
The Social ◽  
Religion And State ◽  
The Impact ◽  
The Relationship

Regulations, measures and restrictions implemented by state authorities on public events and mass gatherings due to fear, anxiety, and panic caused by COVID-19 pandemic have made religious field more open to state intervention since the global pandemic started and religious practices underwent radical changes. Governments’ public health measures concerning the places of mass worship and religious gatherings to stop the spread of the pandemic and the reactions of religious groups against their orders and imposed restrictions emerged as a new dimension of the debates on state-religion and state-individual relations. In this regard, the main purpose of the study is to discuss the new global religious trends that emerged with the outbreak of COVID-19 pandemic, which reshapes state-religion relations through the regulations and measure for containing the virus, in light of the experiences in different regions and religious traditions, and to analyze the relationship between the religion and the state in the Middle East, specifically the cases of Israel and Iran as religious character is dominant and orthodox religious groups play a significant role within the social and political structure in both countries.

The impact of culture on millennials' attitudes towards luxury brands: evidence from Tokyo and Shanghai

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Cheng Lu ◽  
Zhencong Sang ◽  
Kun Song ◽  
Kazuo Kikuchi ◽  
Ippei Machida
Keyword(s):  
Social Identity ◽  
Peer Influence ◽  
Positive Impact ◽  
Cross Cultural ◽  
Mediating Effect ◽  
Luxury Brands ◽  
Content Type ◽  
The Social ◽  
The Cross ◽  
The Impact

PurposeBased on the theory of social identity mechanism, this study aimed to investigate the associations with millennial consumers' need for uniqueness (NFU), susceptibility to peer influence (SPI) and attitudes towards luxury brands (ALB) under the cross-cultural context. The mediating effect of fashion innovativeness (FI) and the moderating effect of culture were examined.Design/methodology/approachThe data for this study were collected through a survey from 217 millennials in Shanghai and 268 millennials in Tokyo. Moderation analysis and mediation analysis using Hayes PROCESS macro were applied to test proposed hypotheses.FindingsResults show that NFU and SPI have a significantly positive effect on millennials' ALB, and fashion innovativeness plays a mediating role in this process. Furthermore, the positive impact of NFU on millennials' ALB for relatively individualistic cities (Shanghai) is stronger than for relatively collectivist cities (Tokyo). The positive impact of susceptibility to informative influence (SII) on millennials' ALB for Tokyo is stronger than for Shanghai.Practical implicationsThe research results suggest how different cultures can support marketers in effectively carrying out their business strategy.Originality/valueUnder the cross-cultural background, the social identity mechanism behind the attitudes of millennials towards luxury brands has been widely recognised. However, little is known about how culture could moderate the social identity mechanism behind millennials' ALB. By analysing these mechanisms, this study compares the cultures of Shanghai and Tokyo and expands the previous research achievements.

The impact of artificial intelligence (AI) finance on financing constraints of non-SOE firms in emerging markets

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jun Shao ◽  
Zhukun Lou ◽  
Chong Wang ◽  
Jinye Mao ◽  
Ailin Ye
Keyword(s):  
Emerging Markets ◽  
Emerging Market ◽  
Financing Constraints ◽  
Content Type ◽  
Emerging Market Countries ◽  
Finance Development ◽  
Cash Flow Sensitivity ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

PurposeThis study investigates the impact of AI finance on financing constraints of non-SOE firms in an emerging market.Design/methodology/approachUsing a sample of non-SOE listed companies in China from 2011 to 2018, this research employs the cash–cash flow sensitivity model to examine the effect of AI finance on financing constraints of non-SOE firms.FindingsWe find that the development of AI finance can alleviate the financing constraints of non-SOE firms. Further, we document that such effect is more pronounced for smaller firms, more innovative firms and firms in developing areas.Practical implicationsThis study suggests that emerging market countries can ease the financing constraints of non-SOE firms by promoting AI finance development.Originality/valueThis study, to the best of our knowledge, is the first one to explore the relationship between AI finance development and financing constraints of non-SOE firms in emerging markets.

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