scholarly journals Research on the Impact of Timing Financing on M&A Performance: The Intermediary Effect Based on Financing Efficiency

2021 ◽  
Author(s):  
Qianqian Shang
Keyword(s):  
Empirical Study ◽  
Positive Impact ◽  
Listed Companies ◽  
Mediating Effect ◽  
Equity Financing ◽  
Financing Behavior ◽  
The Impact ◽  
A Performance

Timing financing theory holds that when listed companies are overvalued, they will increase equity financing. Different from previous studies, this study explores the mechanism of timing financing theory in China from the perspective of financing efficiency. Through the empirical study of M & A cases of Listed Companies in China from 2007 to 2018, it is found that the timing financing behavior that increasing equity financing when overvalued reduces the positive impact of equity financing on M & A performance. Further research found that the mediating effect of the financing efficiency exists, that is, the timing financing behavior does no increase listed companies’ financing efficiency, so it can not help listed companies create value through M & A.

Venture capital network and the M&A performance of listed companies

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yonghong Jin ◽  
Meng Xu ◽  
Wei Wang ◽  
Yuqin Xi
Keyword(s):  
Venture Capital ◽  
Positive Impact ◽  
Listed Companies ◽  
Resource Control ◽  
Information Resource ◽  
Resource Acquisition ◽  
Future Research ◽  
Content Type ◽  
The Impact ◽  
A Performance

PurposeThe purpose of this paper is to discuss how venture capital institutions can use their syndicated investment network to help listed companies to achieve better performance in mergers and acquisitions (M&A) activities.Design/methodology/approachThis paper builds a fixed effect unbalanced panel regression model to study the impact of venture capital network on the M&A performance of listed companies.FindingsEvidence indicated that the stronger the information resource acquisition ability of venture capital institutions in the network, the better the listed company's M&A performance supported; the stronger the information resource control ability of venture capital institutions in the network, the better the listed company's M&A performance supported; the higher the participation of venture capital institutions, the more significant the positive impact of information resource acquisition and information resource control abilities on M&A performance in the network.Research limitations/implicationsThe data in this paper are from China's Growth Enterprise Market (GEM), other markets may be considered in the future research studies.Practical implicationsThe research conclusions of this paper affirm the positive role played by venture capital institutions through syndicated investment in eliminating information asymmetry in M&A of invested companies. The information resource acquisition and control abilities and participation degree of the venture capital network have positively promoted the M&A performance of the invested enterprises.Originality/valueThe conclusions of this paper not only provide useful supplements to existing research literature on venture capital network functions and corporate M&A but also have certain guiding value for venture capital institutions and start-ups to better use venture capital practices to improve their capabilities and performance.

Electronic Customer Relationship Management (E-CRM) and Customer Loyalty

2022 ◽  
Vol 18 (1) ◽  
pp. 0-0
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Service Providers ◽  
Positive Impact ◽  
Equation Model ◽  
Mediating Effect ◽  
Customer Relationship ◽  
The Impact ◽  
The Relationship

This study examined the impact of E-CRM on customer loyalty with the mediating effect of customer satisfaction in the banking industry. Customer satisfaction is important for loyalty because when the customers are satisfied with the services offered by their service providers, the relationship gets stronger which further leads to positive word-of-mouth. The data was collected using purposive sampling from 836 banks’ customers who were using E-CRM services and the data was analyzed using structural equation model (SEM) through AMOS. The results revealed that E-CRM and customer satisfaction had a significant positive impact on customer loyalty and also customer satisfaction partially mediated the relationship between E-CRM and customer loyalty. This study would offer useful acumen to both academicians and marketers and would help the bank managers to improve the quality of the services provided to their customers.

scholarly journals The Impact of Religious Atmosphere on Corporate Governance: An Empirical Study Based on the Number of Temples around Listed Companies

2021 ◽  
Vol 7 (3) ◽  
pp. p11
Author(s):  
Kaikai Liu ◽  
Xinyi Wang ◽  
Jingjing Liang
Keyword(s):  
Corporate Governance ◽  
Empirical Study ◽  
Religious Belief ◽  
Religious Tradition ◽  
Active Role ◽  
Listed Companies ◽  
Economic Behavior ◽  
Risk Averse ◽  
Religious Traditions ◽  
The Impact

Religious belief can affect individual’s behavior. It usually induces managers to be more risk averse, thereby mitigating the agency problem and positively influencing governance. This paper conducts an empirical study to analysis the effect of religious atmosphere on corporate governance. It could be figured out that strong religious atmosphere plays an active role in corporate governance. The stronger the influence of religious tradition on listed companies, the less likely the managers are to violate the rules. Through precepts and deeds, these religious traditions are passed on from generation to generation and have become a significant factor affecting human economic behavior.

The Impact of Ownership on Corporate Performance: The Case of the UAE

2018 ◽  
Vol 13 (3) ◽  
Author(s):  
Magda Elsayed Kandil ◽  
Minko Markovski
Keyword(s):  
Corporate Performance ◽  
Positive Impact ◽  
Listed Companies ◽  
State Ownership ◽  
Control Measures ◽  
Government Ownership ◽  
Strong Trend ◽  
Two Samples ◽  
The Impact ◽  
Positive Effect

AbstractThis study attempts to identify whether government ownership has an effect on corporate performance, such as Return on Assets (ROA), Price to Book value, and Profits for a sample of 102 listed companies on the UAE stock exchanges and a subsample of 17 banks listed on the same bourses over a period of 31 quarters. In the case of the sample of 102 companies, government ownership has a positive impact on some of the corporate performance indicators, as well in the banking subsample. In addition, the analysis evaluates the impact of state ownership on debt accumulated across the two samples. The results indicate that state ownership reduced the need to accumulate debt in general across the larger sample. However, focusing on banks, state ownership facilitates borrowing and accumulating debt. The results point to the positive effect of state ownership on corporate performance. Further, state ownership eases constraints on banks’ borrowing as it boosts confidence in the outlook, facilitating higher ratings and cheaper sources of funding. In the case of the UAE, similar to some other countries, where there is a strong trend toward government ownership in listed companies and banks, it has a positive effect on their performance for the period 2008–2016, i. e., there is a positive relationship between the block-holder ownership and firms’ performance, subject to efficiency control measures.

Effects of dietary patterns on driving behaviours among professional truck drivers: the mediating effect of fatigue

2021 ◽  
pp. oemed-2020-107206
Author(s):  
Yan Ge ◽  
Shanshan He ◽  
Yan Xu ◽  
Weina Qu
Keyword(s):  
Pathway Analysis ◽  
Dietary Patterns ◽  
Negative Impact ◽  
Positive Impact ◽  
Truck Drivers ◽  
Mediating Effect ◽  
Mediation Effect ◽  
Driving Behaviour ◽  
Staple Foods ◽  
The Impact

ObjectiveTo explore the impact of the dietary patterns of truck drivers on their driving behaviours and the mediation effect of fatigue between these factors.MethodsA sample of 389 male truck drivers from a transport company in Suzhou, China completed the Food Frequency Questionnaire (FFQ), the Multidimensional Fatigue Inventory (MFI), the Positive Driver Behaviours Scale (PDBS) and the Driver Behaviour Questionnaire (DBQ). The associations among dietary patterns, fatigue and driving behaviour were examined using pathway analysis.ResultsFour dietary patterns were identified based on principal component analysis: animal-derived foods, staple foods, snacks and vegetables. The pathway analysis showed that the vegetable-rich pattern had a direct positive impact on positive driving behaviour (β=0.211, p<0.001); the animal-derived pattern had a direct positive impact on errors (β=0.094, p<0.05) and ordinary violations (β=0.071, p<0.05); the snacks pattern had a direct negative impact on positive driving behaviour (β=−0.191, p<0.001); fatigue mediated the effect of dietary patterns on driving behaviours (p<0.001); and the staple foods had an indirect effect on driving behaviours.ConclusionsOverall, the driving behaviours of truck drivers are correlated with their dietary patterns. Drivers who preferred vegetables and staple foods had more positive driving behaviour, while the animal-derived food and snack patterns were related to dangerous driving behaviour. The experience of fatigue could explained the underlying mechanism between these factors.

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 Big Data Capability on Enterprise Performance—theMediating Effect of Supply Chain Flexibility

2021 ◽  
Vol 7 (6) ◽  
pp. 5641-5655
Author(s):  
Ji Feng ◽  
Cheng Guiqing ◽  
Jia Xuedi ◽  
Luo Qubo ◽  
Wu Fan
Keyword(s):  
Big Data ◽  
Supply Chain ◽  
Positive Impact ◽  
Mediating Effect ◽  
Enterprise Performance ◽  
Chain Flexibility ◽  
Supply Chain Flexibility ◽  
The Impact ◽  
Positive Effect ◽  
Development Capability

Based on 234 survey data of 35 pilot demonstration enterprises in intelligent manufacturing, this paper tested the mediating role of supply chain flexibility in the process of big data capability affecting enterprise performance. The empirical results show that the foundation capability, application capability, and development capability all have a significant positive impact on enterprises performance. Big data foundation capability has a significant positive effect on the supply chain flexibility in terms of product flexibility, logistics flexibility and production flexibility, and it has no significant effect on purchasing flexibility and information flexibility. Both big data application capability and big data development capability have a positive effect on supply chain flexibility. In addition to purchasing flexibility, the other dimensions of supply chain flexibility and supply chain flexibility comprehensive factors all have a mediating effect on the relationship between big data capabilities and firm performance. The conclusions of this study have a positive enlightenment role for enterprises to develop big data capabilities and create a flexible supply chain to meet the needs of the market and customers.

scholarly journals External Pressure, Corporate Governance, and Voluntary Carbon Disclosure: Evidence from China

2019 ◽  
Vol 11 (10) ◽  
pp. 2901 ◽  
Author(s):  
Pinglin He ◽  
Huayu Shen ◽  
Ying Zhang ◽  
Jing Ren
Keyword(s):  
Corporate Governance ◽  
Information Disclosure ◽  
Positive Impact ◽  
Listed Companies ◽  
External Pressure ◽  
General Manager ◽  
Analysis Process ◽  
The Board Of Directors ◽  
Heavy Pollution ◽  
The Impact

This paper uses manually collected data of carbon information disclosure for listed companies, from 2009 to 2015 in China, to measure corporate carbon information disclosure, and it explores the impact of external pressure and internal governance on carbon information disclosure through text analysis and a hierarchy analysis process. The results show that, firstly, the greater the external pressure is, the higher the level of carbon information disclosure will be; that is, when listed companies are state-owned enterprises or in heavy pollution industries, the level of carbon information disclosure is higher. Secondly, the higher the level of corporate governance is, the higher the level of carbon information disclosure will be; that is, when the board of directors is larger, the proportion of independent directors is higher, and the chairman and general manager positions are differentiated, the level of carbon information disclosure is higher. Furthermore, when listed companies are state-owned and in heavy pollution industries, the level of carbon information disclosure is higher; when the chairman and general manager are in the same position (lower governance level), the positive impact of government pressure on carbon disclosure is less significant, the positive impact of external pressure on carbon disclosure is less significant, and the positive interactive impact of government pressure and external pressure on carbon disclosure is less significant. The conclusions of this paper are still robust after Heckman two-stage regression, propensity score matching (PSM) analysis, sub-sample regression, and double clustering analysis.

Mediating Role of Interpersonal Interactions Between Chinese Farmers' Social Networks and their Subjective Well-Being

2018 ◽  
Vol 46 (5) ◽  
pp. 721-732 ◽  
Author(s):  
Jianjun Zhang ◽  
Yang Xu ◽  
Yu Hou
Keyword(s):  
Social Networks ◽  
Rural Areas ◽  
Positive Impact ◽  
General Social Survey ◽  
Well Being ◽  
Psychological Needs ◽  
Mediating Effect ◽  
Subjective Well Being ◽  
Interpersonal Interactions ◽  
The Impact

As more than half the population of China lives in rural areas, farmers' subjective well-being is important to the maintenance of socialism in the countryside and the Chinese people's target of comprehensively building a prosperous society. Using data collected in the 2012 Chinese General Social Survey, we built a regression model to examine the impact of farmers' social networks on their subjective well-being, and the mediating effect of their interpersonal interactions on this relationship. Results showed that farmers' social networks had a positive impact on their overall subjective well-being, which was, in turn, mediated by their interpersonal interactions. Farmers with well-developed social networks tended to have effective interpersonal interactions that satisfied their social psychological needs and enhanced their subjective well-being. Our findings provide a valuable reference for enhancing the subjective well-being of farmers in China.

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