scholarly journals Managing mergers in a difficult era: Stock market and accounting evidence from Greece

2018 ◽  
Vol 8 (4) ◽  
pp. 16-21
Author(s):  
Michail Pazarskis ◽  
Andreas Koutoupis ◽  
Georgia Pazarzi ◽  
Panagiotis Kyriakogkonas
Keyword(s):  
Data Analysis ◽  
Stock Market ◽  
Economic Crisis ◽  
Financial Statements ◽  
Payment Method ◽  
Qualitative Variables ◽  
Before And After ◽  
And Performance ◽  
The Impact ◽  
Industry Relatedness

The study examines the impact of mergers on stock market and performance of companies which were involved at mergers in Greece. Thus, the study, by using a sample of twenty-three listed companies which executed at least one merger (as acquirers) during the period of economic crisis, analyses nine stock market measures and ratios using simultaneously accounting measures extracted from corresponding financial statements. More specifically, we test a company’s performance by comparing a two-year span period before and after of all the merger events that took place within the period 2011-2015 (with data analysis from 2009 to 2017). The results of the study indicated that there is no statistically significant improvement or worsening for none of the examined variables in the post-merger period. In addition, we examined further merger characteristics, such as the method of payment and industry relatedness (qualitative variables). We observed statistically significant changes of a variable, in relation with the payment method, and in particular improvement of a variable when the exchange of shares is used as a payment method of a merger, instead of cash exchange.

Equine hindlimb hoof biomechanics: an evaluation of the effect of routine hoof trimming on force and pressure distribution at midstance

2020 ◽  
Vol 16 (4) ◽  
pp. 333-337
Author(s):  
B. Faramarzi ◽  
M. Polniaszek ◽  
F. Dong
Keyword(s):  
Contact Pressure ◽  
Musculoskeletal Injuries ◽  
Medial Aspect ◽  
P Values ◽  
Pressure Plate ◽  
Before And After ◽  
And Performance ◽  
The Impact ◽  
Hindlimb Lameness ◽  
Paired T Test

Proper hoof function is vital for equine health and performance. Many musculoskeletal injuries in horses originate from the foot. Most studies performed to date have focused on the forehoof while the hindhoof (HH) has received less attention. Our goal was to examine the influence of routine hoof trimming on HH medio-lateral hoof balance. The objective of this study was to examine force (F), contact pressure (CP), and contact area (CA) at the medial and lateral aspects of the HH to evaluate the impact of routine hoof trimming on HH biomechanics. Clinically sound Arabian horses (n=9) were walked across a calibrated pressure plate before and after routine hoof trimming and the F, CP, and CA at the medial and lateral aspects of the HH were recorded at midstance pre- and post-trimming. The differences between these regions were investigated using a paired T-test. P-values <0.05 were considered significant. Among measured variables, force increased by 25% (P=0.007) and contact pressure increased by 13% (P=0.032) at the medial aspect of the HH after routine hoof trimming. Analysing data from hindlimb hoof-surface interaction in sound horses will allow for a better understanding of imbalances that may lead to pathologies and hindlimb lameness in horses.

scholarly journals INTELLECTUAL CAPITAL, FINANCIAL CRISIS AND PERFORMANCE OF ISLAMIC BANKS: DOES SHARIAH GOVERNANCE MATTER?

2017 ◽  
Vol 18 (1) ◽  
Author(s):  
Tasawar Nawaz
Keyword(s):  
Financial Crisis ◽  
Intellectual Capital ◽  
Economic Performance ◽  
Islamic Banks ◽  
Knowledge Resources ◽  
Finance Industry ◽  
Before And After ◽  
And Performance ◽  
Shariah Governance ◽  
The Impact

This paper empirically examines the impact of intellectual capital (IC) and Shariah governance on economic performance of 47 Islamic banks (IBs) operating in the Gulf Cooperation Council (GCC) region in pre- and post-financial crisis period. The analysis suggests that higher IC efficiency helps IBs to improve their odds of survival at all times i.e. before- and after-crisis. Further, higher IC efficiency helps IBs to maintain their profitability i.e. ROA and market valuation i.e. Tobin’s Q at all times. Arguably, knowledge-resources i.e. IC is the main line of defence for IBs against negative shocks. Lastly, the study reveals that Shariah governance alone may fall short in explaining the growth trends in Islamic finance industry. Keywords: Intellectual Capital; Shariah Governance; Financial Crisis; Islamic Worldview; Economic Performance.

scholarly journals The Effect of Disclosure and Transparency Criteria In Saudi Banks on The Financial Ratios Indicators

2019 ◽  
Vol 25 (116) ◽  
pp. 290-303
Author(s):  
Mohammad Kamal Kamel Afaneh
Keyword(s):  
Performance Indicators ◽  
Banking Sector ◽  
Saudi Arabian ◽  
Financial Statements ◽  
Monetary Authority ◽  
Financial Indicators ◽  
Return On Assets ◽  
Time Period ◽  
Before And After ◽  
The Impact

The study aimed to measure the effect of applying the disclosure and transparency standards criteria adopted by the Saudi Arabian Monetary Authority on improving performance indicators in the Saudi banking sector, by measuring the extent of the impact of the bank's financial indicators represented by liquidity, profitability and return on assets in Saudi banks by applying the criteria of disclosure and transparency, which is one of the Main principles in the list of governance, which was approved by the Saudi Arabian Monetary Authority. The analytical approach was followed to achieve the goal of the study, as the financial statements of Saudi banks were analyzed during a period of 8-year to test four hypotheses related to measuring the presence of statistically significant differences between the performance indicators of banks before and after applying the disclosure and transparency standards imposed on Saudi banks. The results of the research confirmed the existence of an inverse relationship between the bank’s liquidity and the percentage of Saudi banks ’profits. The more liquidity, the lower the profitability level of banks, which indicates that the high liquidity in Saudi banks has led to a low profitability in this time period, and the study recommended that The need to pay attention to the concept of disclosure and transparency among all related parties in Saudi banks, and banks should find a balance between liquidity and profitability  

scholarly journals Capital Market Response to COVID-19 Pandemic – A Systematic Review on Stock Volatility and Performance

2021 ◽  
pp. 27-49
Author(s):  
Janga Bahadur Hamal ◽  
Rishi Raj Gautam
Keyword(s):  
Stock Market ◽  
Investor Sentiment ◽  
Market Volatility ◽  
Stock Market Volatility ◽  
Stock Volatility ◽  
Government Response ◽  
Stock Market Performance ◽  
Policy Measures ◽  
And Performance ◽  
The Impact

This paper aims to identify the impact of the COVID-19 pandemic on stock market volatility and market return as well as the impact of government response to the COVID-19 pandemic on stock market performance. To analyze the same, the paper has adopted Systematic Literature Review (SLR) approach and conducted a review of 40 journal articles published between between2020 to mid-2021. The paper identified that the short-term impact of the COVID-19 outbreak and government policy measures had a significant and adverse impact on stock market volatility, return and overall performance. In the longer term, the stock markets slowly started to stabilize and revive. This effect on the stock market was also attributed to investor sentiment and thus, in the later stages, targeted government response had a positive effect on boosting investor confidence towards the market.

scholarly journals The Influence of Accounting Information on Stock Prices of Food and Beverage Manufacturing Companies

2021 ◽  
Vol 2 (3) ◽  
pp. 11-16
Author(s):  
Okeyo Oleyinka ◽  
Tyronni Chadire
Keyword(s):  
Data Analysis ◽  
Stock Market ◽  
Stock Prices ◽  
Sample Selection ◽  
Accounting Information ◽  
Financial Statements ◽  
Total Sample ◽  
Manufacturing Companies ◽  
Food And Beverage ◽  
Research Period

The purpose of this study is to determine the effect of accounting information on stock prices of manufacturing companies in the food and beverage sub-sector This research takes place at the Stock Market  office. The sample selection method in this study is a purposive sampling method with a total sample of 5 companies. The data collection techniques collect data on the company's financial statements during the research period. The data analysis method used was multiple regression with the help of SPSS for windows 25.00 software. The results showed that 1) Based on the results of data analysis, the coefficient values ​​of ROA, ROE, NPM, and EBIT showed an effect on stock prices simultaneously. 2) Based on the results of data analysis ROA, ROE, NPM partially significant effect on stock prices, while EBIT has no effect on stock prices of manufacturing companies in the food and beverage sub-sector on the Stock Market. 3) The most dominant variable that influences ROA, ROE, NPM and EBIT on stock prices of manufacturing companies in the food and beverage sub-sector on the Stock Market is the ROA variable

scholarly journals ANALYSIS OF THE INFLUENCE OF FINANCING ON THE VALUE OF SHARIA BANKS WITH PROFITABILITY AS INTERVENING VARIABLES

2021 ◽  
Vol 8 (1) ◽  
pp. 15-30
Author(s):  
Imam Azizuddin
Keyword(s):  
Data Analysis ◽  
Path Analysis ◽  
Commercial Banks ◽  
Financial Statements ◽  
The Impact ◽  
Intervening Variables

This study aims to analyze the influence of NUC and NCC financing on Sharia commercial banks' value using variable profitability as variable intervening. The data used in exploring the impact of this financing is obtained from the financial statements issued by OJK with data from 2016-2019. The data analysis used in this study uses path analysis. This study shows that nuc has a significant effect on profitability but has no significant impact on the value of sharia banks. In contrast to the NCC results that have absolutely no significant impact on Sharia banks' profitability and value. This study also provides information that nuc has no effect on the importance of sharia banks with profitability as variable intervening, in contrast to NCC, which affects the value of sharia banks with profitability as variable intervening.

Os efeitos da aprendizagem da esgrima sobre o controle executivo da memória

2021 ◽  
Author(s):  
Gabriel MenezesPaes Rodrigues ◽  
Nilo Terra Arêas Neto
Keyword(s):  
Executive Control ◽  
Learning Difficulties ◽  
Field Research ◽  
School Failure ◽  
Before And After ◽  
Brazilian Students ◽  
And Performance ◽  
The Impact ◽  
Dependent Samples ◽  
Learning And Performance

Treated as one of the biggest challenges in the Brazilian educational system, school failure, despite being multi-causal, is closely linked to learning difficulties associated with aspects of cognition, with special attention to the Executive Control of Memory, which in this study will be represented by the variables: Working Memory (MT), Concentrated Attention (AC) and Motor Reaction Time (TRM). Under neuropsychological aspects, the executive control of memory comprises closely linked phenomena and mechanisms and learning, such as: cognitive flexibility, decision making, attention mechanisms, inhibitory control, selection and integration of current information with information already memorized, in addition to planning and monitoring their own learning and performance. This form of cognitive ability is defined by renowned researchers in the “field” as being preponderant to human learning and performance. Dysfunctions in the executive control of memory are commonly a reflection of innate or non-innate psychopathological issues, may be associated with other comorbidities, and are determinants of school failure in a significant number of Brazilian students. Thus, the main objective of this research project is to verify the impact of the practice of the fighting modality Fencing on the executive control of the memory of students from the public school system, participants of this action research, included in psychopedagogical care for issues related to learning difficulties cognitive. The Field Research technique will be used in this study, with the process of testing the variables under study in moments before and after the intervention with fencing classes. The data obtained in the testing process will be treated in a descriptive statistical perspective. For the inference of the data obtained, the Student T Test for dependent samples will be used. To verify the distribution of data, the Shapiro-Wilk test will be used. As a result, research participants are expected to obtain statistically significant results in the studied variables.

scholarly journals Assessment of the Impact of Stagnation Temperatures in Receiver Prototypes of C-PVT Collectors

Energies ◽  
2019 ◽  
Vol 12 (15) ◽  
pp. 2967 ◽  
Author(s):  
João Gomes
Keyword(s):  
Solar Cells ◽  
Thermal Stress ◽  
Structural Integrity ◽  
Heat Transfer Fluid ◽  
Strain Relief ◽  
Prototype Test ◽  
Before And After ◽  
And Performance ◽  
Initial Power ◽  
The Impact

Concentrating Photovoltaic Thermal (C-PVT) solar collectors produce both thermal and electric power from the same area while concentrating sunlight. This paper studies a C-PVT design where strings of series-connected solar cells are encapsulated with silicone in an aluminium receiver, inside of which the heat transfer fluid flows, and presents an evaluation on structural integrity and performance, after reaching stagnation temperatures. Eight test receivers were made, in which the following properties were varied: Size of the PV cells, type of silicone used to encapsulate the cells, existence of a strain relief between the cells, size of the gap between cells, and type of cell soldering (line or point). The test receivers were placed eight times in an oven for one hour at eight different monitored temperatures. The temperature of the last round was set at 220 °C, which exceeds the highest temperature the panel design reaches. Before and after each round in the oven, the following tests were conducted to the receivers: Electroluminescence (EL) test, IV-curve tracing, diode function, and visual inspection. The test results showed that the receivers made with the transparent silicone and strain relief between cells experienced less microcracks and lower power degradation. No prototype test receiver lost more than 30% of its initial power, despite some receivers displaying a large number of cell cracks. The transparent and more elastic silicone is better at protecting the solar cells from the mechanical stress of thermal expansion than the compared silicone alternative, which was stiffer. As expected, larger cells are more prone to develop microcracks after exposure to thermal stress. Additionally, existing microcracks tend to grow in size relatively fast under thermal stress. EL imaging taken during our experiment leads us to conclude that it is far more likely for existing cracks to expand than for new cracks to appear.

scholarly journals Does a country’s financial and legal systems contemporaneously impact the governance and performance relationship: Further evidence?

2012 ◽  
Vol 9 (4-3) ◽  
pp. 279-308 ◽  
Author(s):  
Anne Anderson ◽  
Parveen P. Gupta ◽  
Andrey Zagorchev
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Stock Market ◽  
Investor Protection ◽  
Legal Systems ◽  
Market Capitalization ◽  
And Performance ◽  
Continuous Measures ◽  
The Impact ◽  
Stock Market Capitalization

We investigate the impact of continuous measures of the financial system and investor protection on the corporate governance-performance relationship. We find that shareholder suits rights/stock market capitalization (disclosure rights/stock market capitalization) has monotonic (non-monotonic) relation with firm performance and that high-levels of stock market capitalization and investor protection generate valuation synergies. Besides interactions of financial and legal systems with corporate governance, market- (bank-) orientation and development and stronger (weaker) investor protection along with better (worse) corporate governance are associated with higher (lower) valuations. A country’s migration to a developed stock market with enhanced investor protection is related to better corporate governance and firm performance.

scholarly journals NETWORK ANALYSIS OF PAKISTAN STOCK MARKET DURING THE TURBULENCE OF ECONOMIC CRISIS

2019 ◽  
Vol 17 (2) ◽  
pp. 269-285 ◽  
Author(s):  
Bilal Ahmed Memon ◽  
Hongxing Yao ◽  
Faheem Aslam ◽  
Rabia Tahir
Keyword(s):  
Network Analysis ◽  
Stock Market ◽  
Interest Rates ◽  
Economic Crisis ◽  
Network Structure ◽  
Topological Property ◽  
Minimum Spanning Tree ◽  
Time Varying ◽  
Tree Length ◽  
The Impact

Purpose – the purpose of this study is to analyse the impact of the recent economic crisis on the network topology structure of Pakistan stock market. Since stock market is considered a core financial market for the development of an economy, it is often used as benchmark to measure a country`s progress. Policymakers often forecast tendency of share prices, that is dependent on several foreign and local macroeconomic factors. Therefore, the aim of this study is to investigate how rising inflation, higher interest rates, and trade and budgetary deficits affect the network structure of blue-chip 96 companies listed on the Karachi stock exchange (KSE-100) index of Pakistan stock market. Research methodology – this study follows the methodology proposed by Mantegna and Stanley and uses cross-correlation in the daily closing price of KSE 100 Index companies to compute Minimum spanning tree (MST) structures. Additionally, we also apply time-varying topological property of average tree length to extract dynamic features of the MST networks. Findings – we construct eight monthly MSTs that show the instability of the network structure and significant differences in the topological characteristics due to economic crisis of Pakistan. Furthermore, the time-varying topological property of average tree length reveals contraction of the networks due to tight correlation among stocks. Research limitations – this study focuses on correlation-based network construction of MST. The scope of the study can be widened by constructing partial correlation-based MSTs and comparison of different networks structures accordingly. Practical implications – the network properties and findings of this paper will help policymakers and regulators in setting right policies, regulatory framework, and risk management for the stock market. Originality/Value – no previous studies have performed MST based network analysis examining macroeconomic events. Therefore, we fill the research gap and thoroughly analyse structural change and dynamics of Pakistan stock market during the turbulence of current economic crisis of Pakistan.

Sign in / Sign up

Export Citation Format

Share Document