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Sort articles by: Volume | Date | Most Rates | Most Views | Reviews | Alphabet
11.

Investor sentiment by psychological line index and stock return Pages 1259-1264 Right click to download the paper Download PDF

Authors: Lai Cao Mai Phuong

DOI: 10.5267/j.ac.2020.8.026

Keywords: Sentiment, Psychological, Return, Trading behavior, Volume, Market cap

Abstract:
This article examines 57 companies listed on the Ho Chi Minh City Stock Exchange from January 1, 2015 to March 31, 2020, to check whether or not investors' sentiment impacts the return of these stocks. Investor's daily sentiment towards each stock was measured by the psychological line index. The results of the study using both regression methods, Fama-MacBeth and General Least Squares, show that the influence of investor sentiment to return stocks in the stock market was significant and could not be ignored. Besides, the psychological factor of investors, their trading behavior causing stock supply-demand imbalance were all important factors affecting stock return. The study also found that the effect of firm size on stock returns was more pronounced when both investor sentiment and behavior were used in research models. The finding from this study suggests that individual investors who trade stocks every day can use psychological line index, which is one of the groups of decision-making indicators.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1746 | Reviews: 0

 
12.

The effects of macroeconomic factors on the rate of return of securities Pages 1265-1274 Right click to download the paper Download PDF

Authors: Kulanart Phutornkotara, Sakkarin Nonthapot

DOI: 10.5267/j.ac.2020.8.025

Keywords: Transport and Logistics, Services, Stock Exchange of Thailand

Abstract:
This study aims to study the macroeconomic factors that affect the rate of return of securities in the transport and service category of the Stock Exchange of Thailand. The category comprises three groups: media services, tourism, hotel and recreation and transport and logistics. The study employs quarterly data from 2001 to 2019 estimated with the ARDL bounds testing approach. The results reveal that media services, tourism, hotel and recreation and transport and logistics groups in the tourism and service category were cointegrated with stock exchange volume (in thousands of shares), exchange rate, gold bullion price, interest rate and diesel oil price. This study also found the long-term equilibriums of the macroeconomic factors deviated from the short-run to long run for three groups. The gold bullion price factor is a major factor in determining the long run. This study suggests that the gold bullion price is an alternative indicator for investment. Investors in the transport and logistics group should focus on the exchange rate, the gold bullion price, the interest rate and the diesel oil price before investment. Investors should consider the level of the exchange rate before investing in the media service group in the Stock Exchange of Thailand while investors in the tourism, hotel and recreation group of the Stock Exchange of Thailand should be recognize the stock exchange volume.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1466 | Reviews: 0

 
13.

Corporate governance attribute, blockholder ownership and accounting conservatism: Which aspects reduce the cost of equity? Pages 1275-1284 Right click to download the paper Download PDF

Authors: Badingatus Solikhah, Jariyah Jariyah

DOI: 10.5267/j.ac.2020.8.024

Keywords: Cost of Equity, Accounting Conservatism, Block Ownership, Board Characteristics, Corporate Governance

Abstract:
This study focuses on investigating the effect of block ownership, board of director diversification, duality of the board of directors, independent level of board of commissionaire, audit committee effectiveness, and accounting conservatism on the cost of equity. The study examines 121 manufacturing companies listed in Indonesia Stock Exchange. The panel regression indicates that block ownership positively affects the cost of equity. Conversely, accounting conservatism has a negative effect on the cost of equity. The company is expected to increase its accounting conservatism practice as it can reduce the cost of equity. Furthermore, regulators especially Financial Services Authority should protect investors’ rights from block holder expropriation in Indonesia. Companies need to be encouraged to implement corporate governance not merely in compliance laws and regulations but for sustainable business.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1280 | Reviews: 0

 
14.

The role of the board of director with political connection for increasing the firm value Pages 1285-1290 Right click to download the paper Download PDF

Authors: Fahmi Idris, Agung Dharmawan Buchdadi, Muhammad Rizqi Muttaqien, Taqwa Hariguna

DOI: 10.5267/j.ac.2020.8.023

Keywords: Independent Board of director, Executive Compensation, Political Connections, Company Performance, Company Value

Abstract:
This study examines the impact of independent board of directors, executive compensation, and political connections on firm performance in one of the biggest democracy countries in South East Asia. Company performance is measured by return on assets (ROA), and firm value is measured by Tobin's Q. Meanwhile, as an independent variable we use several good corporate governance variables, namely the board of directors, executive compensation variable and political connections. Company data are from companies listed in LQ45 index which means the best stock performance in Indonesia capital market. The finding shows the crucial role of independent board of director and political connection for enhancing the firm value. Findings indicate an independent board of director can improve company performance. Meanwhile, executive compensation can provide motivation to increase company value, but has other motivations in improving company performance. Meanwhile, political connections can improve company performance and value. Thus, this study emphasizes the crucial role of the experience and the connection of the board of directors in improving the value of the firm.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 2630 | Reviews: 0

 
15.

The role of artificial intelligence and big data on loan decisions Pages 1291-1296 Right click to download the paper Download PDF

Authors: Maha Abuhusain

DOI: 10.5267/j.ac.2020.8.022

Keywords: Artificial Intelligence, Big Data, Loan Decisions, Banks

Abstract:
The aim of the present research was to identify the influence of Artificial Intelligence and Big data on loan decisions in Saudi Arabian banks. The study used a sample of thirteen banks located in Saudi Arabia for data analysis. The data was gathered using some questionnaires distributed to bank staff. The results indicate a significant connection among loan decisions and AI and Big data. Moreover, it was found that there was a statistically positive and significant relationship between the artificial intelligence and the quality of loan decision-making. There was also a positive association between experience, educational qualification and using big data and AI. In conclusion, the results show that AI and Big data could enhance innovation which could be applied in the banks of Saudi Arabia for loan decisions assessment.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1544 | Reviews: 0

 
16.

The effect of financial structure on business performance of industrial enterprises listed in Vietnam Pages 1297-1304 Right click to download the paper Download PDF

Authors: Dao Tung Nguyen

DOI: 10.5267/j.ac.2020.8.021

Keywords: Financial structure, Firm’s performance, Industrial enterprise

Abstract:
The article analyzes the impact of financial structure on the performance of 70 industry listed enterprises in the period 2009-2019. The research results show that the business performance of the industrial enterprises listed on the Vietnamese stock market had a negative correlation with the capital structure, asset structure, inventory structure, receivable structure, firm age and positively correlated with firm size, sales growth rate. These results help business administrators make appropriate financial decisions to improve the efficiency of business performance.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1472 | Reviews: 0

 
17.

Determinants of participative budgeting and its implication on managerial performance Pages 1305-1312 Right click to download the paper Download PDF

Authors: Yunika Murdayanti, Susi Indriani, Widad Umaimah

DOI: 10.5267/j.ac.2020.8.020

Keywords: Organization Commitment, Procedural Fairness, Participative Budgeting, Managerial Performance

Abstract:
The purpose of this study is to examine the effect of organizational commitment and procedural fairness against participative budgeting, organization commitment and procedural fairness against managerial performance, and participative budgeting on managerial performance in Jakarta Capital City Government. The populations are structural agencies of the regional work unit in Jakarta, with 100 structural agencies of the regional work unit in Jakarta as the sample. This research uses primary data collected by questionnaires. The analysis data method uses path analysis with Smart PLS to test the direct effect and indirect effect between variables. The results of this study present that organizational commitment did not affect participatory budgeting as well as managerial performance, procedural justice had a positive and significant effect on participatory budgeting as well as on managerial performance and participatory budgeting had a positive and significant effect directly or indirectly on managerial performance.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1732 | Reviews: 0

 
18.

Analyzing the production-distribution-consumption cycle using hierarchical modeling methods Pages 1313-1322 Right click to download the paper Download PDF

Authors: Venera Timiryanova

DOI: 10.5267/j.ac.2020.8.019

Keywords: Production-distribution-consumption cycle, Hierarchical linear model, Central place hierarchies

Abstract:
The production-distribution-consumption cycle is one of the main cycles on which the economy state depends on. This study aims to determine the relationship between production, distribution, and consumption of goods within the central place hierarchies using hierarchical modeling (HLM). It allows us to analyze indicators within several levels of data aggregation. The analysis is carried out in the context of 2319 municipalities that are part of 84 regions of the Russian Federation, in 8 federal districts. The results show that hierarchical analysis methods can be used in the production-distribution-consumption cycle study. As part of the model's results, it was noted that the income of the population and exports, which determine the demands for goods, have a positive impact on the production and sales of goods. At the same time, the relationship between production and wholesale trade, which characterizes the distribution of goods, is not so clear. The production-distribution-consumption cycle study considers the hierarchy of central places, which takes into account the division of the territory into zones based on the functions performed. The methods of hierarchical analysis made it possible to evaluate the effects generated at each level. We managed to take into account the spatial heterogeneity and hierarchical structure of the data describing the production-distribution-consumption cycle. This will improve the quality of decisions when determining the manufacturing locations, as well as providing a better approach to the development of territories by state authorities.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1270 | Reviews: 0

 
19.

Comparative significance of human resource management practices on banking financial performance with analytic hierarchy process Pages 1323-1328 Right click to download the paper Download PDF

Authors: Quang Linh Huynh, Thanh Thuy Nguyen Thi, Tan Khuong Huynh, Tuyet Anh Duong Thi, Thuy Lan Le Thi

DOI: 10.5267/j.ac.2020.8.018

Keywords: Human resource management, Banking financial performance, Analytic hierarchy process

Abstract:
Banking financial performance (BFP) has been recognized as a causation of human resource management (HRM). The causal linkages from HRM practices to BFP are different. Nevertheless, almost none of the studies has ranked and compared this difference among the practices of HRM in enhancing BFP. The current study applied an analytic hierarchy process to rank the relative importance of HRM practices. For the robustness of the results from the process of analytic hierarchy, the current work employed an analytic hierarchy process to reassess the relatively important levels of HRM practices on BFP as well. The findings are robust across both of the techniques. The practice of training and development (TT) plays the most critical part in BFP, followed by the practice of performance evaluation (PN) and the practice of reward system (RM) as the third most important. In contrast, the practice of recruitment and selection (RN) takes the least important position in BFP. Moreover, the findings also provide statistical evidence on the causal links from the practices of HRM to BFP. This work makes some contribution to how managers should decide on HRM practices in order to obtain the best possible BFP.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1547 | Reviews: 0

 
20.

An empirical investigation of the strategic auditing: The case of the Algerian water enterprise of El-Taref Pages 1329-1336 Right click to download the paper Download PDF

Authors: Slimani Mounira, Haouli Mohamed, Dris Khaled, Omar Bagais, Khaled Aljaaidi

DOI: 10.5267/j.ac.2020.8.017

Keywords: Strategic auditing, Diagnostic, Focused Analysis, Recommendations, Algerian Water Enterprise of El-Taref

Abstract:
The purpose of this study is to investigate the reality of strategic auditing in Algerian Water Enterprise of El-Taref. The study is theoretically developed based on three main dimensions, namely; diagnoses, focused analysis, and recommendations. The sample of this study consists of 47 employees in the Algerian Water Enterprise El-Taref. The results of the Factor Analysis, Mean and Coefficient covariance showed that there is an average level of the strategic auditing dimensions. The results of this study are important for policy makers at the country and the company levels in terms of the strategic auditing issues.
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Journal: AC | Year: 2020 | Volume: 6 | Issue: 7 | Views: 1074 | Reviews: 0

 
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