Future firm operating

The study concluded that when an organization is forced through the external sources such as legislation, environment protection agencies and customers they tend to follow the GSCMP. These practices in turn lead towards the operational efficiency of the firms. The limitations and future research areas are provided in the study.

9p longtimenosee10 26-04-2024 4 1   Download

Part 1 of ebook "Analysis for financial management" provides readers with contents including: assessing the financial health of the firm; evaluating financial performance; planning future financial performance; financial forecasting; managing growth; financing operations; financial instruments and markets;...

251p hanlinhchi 28-08-2023 8 4   Download

This research was conducted for assessing the predictive ability of future cash flows from operating activities by using accounting earnings and cash flows information in the past. Data were collected from the firms listed on Ho Chi Minh Stock Exchange (HOSE) from 2009 to 2018, including the sample of 242 non-financial listed companies.

12p tozontozon 25-04-2020 13 3   Download

This research was conducted for assessing the predictive ability of future cash flows from operating activities by using accounting earnings and cash flows information in the past. Data were collected from the firms listed on Ho Chi Minh Stock Exchange (HOSE) from 2009 to 2018, including the sample of 242 non-financial listed companies. Three statistical methods approaches were employed to address econometric issues and to improve the accuracy of the regression coefficients based on Ordinary Least Squares (OLS), Random Effects Model (REM), and Fixed Effects Model (FEM).

12p tociitocii 18-04-2020 16 1   Download

This paper theoretically and empirically explores the reason why Chinese enterprises engage in inefficient investment from the government’s grabbing hand perspective on a large sample of 8501 firm-year observations between 2003 and 2011. The results suggest that influenced by the grabbing hand of local officials, private enterprises exhibit significantly higher investment distortion and inefficiency in terms of overinvestment and underinvestment than the enterprises controlled by the governments at all levels.

39p trinhthamhodang2 21-01-2020 33 2   Download

With reference to consideration on the future of credit guarantees in the world, it may be interesting to analyze the UK framework of guarantee schemes in favour of SMEs, where there are no private guarantee providers and where there is a substantial public monopoly. In particular, in this paper it emerges that among the countries examined by the OECD, the country where the credit guarantees are least widespread is the United Kingdom. However, the trend in bankruptcies recorded in recent years by British firms is better than the median of the other countries considered.

16p trinhthamhodang2 19-01-2020 14 1   Download

The purpose of this paper is to review a synthesis of theories and empirical studies dealing with the mergers and acquisitions in the recent decay in an attempt to provide directions for future research. The review focuses on four main streams including: first, the motives for mergersacquisitions; which are the strategic profits, the overconfidence of managers and the desire to create a big empire resulting from merger.

4p chauchaungayxua2 09-01-2020 48 6   Download

These find a negative relation between CEO cheap stock and future firm operating and stock return performance. Overall, my results illustrate the importance of corporate governance structures in IPO firms and suggest that greater levels of cheap stock are an indication of agency problems, which in turn, adversely affect shareholder value.

132p fugu897 03-07-2019 28 3   Download

A simple model of earnings, cash flows and accruals is developed by assuming a random walk sales process, variable and fixed costs, accounts receivable and payable, and inventory and applying the accounting process. The model implies earnings better predicts future operating cash flows than does current operating cash flows and the difference varies with the operating cash cycle. Also, the model is used to predict serial and crosscorrelations of each firm's series. The implications and predictions are tested on a 1337 firm sample over 1963-1992.

53p bin_pham 06-02-2013 49 4   Download

Further, the average serial correlation in sales changes for our sample firms is .17 which is also approximately consistent with a random walk. The assumption is not critical to most of our results (the major exception is that earnings is a random walk). Even if sales follow an autoregressive process in first differences, accruals still offset the negative serial I correlation in operating cash flow changes induced by inventory and working capital financing policies.

561p bin_pham 06-02-2013 47 7   Download

In this section we develop a simple model of operating cash flows and the accounting process by which operating cash flow forecasts are incorporated into accounting earnings. The model explains why operating cash flow changes have negative serial correlation and how earnings incorporate the negative serial correlation to become a better forecast of future operating cash flows than current operating cash flows. The model also explains other time series properties of earnings, operating cash flows and accruals.

30p bin_pham 06-02-2013 65 4   Download

The effects of accruals on the time series properties of annual earnings and the predictability of future cash flows are likely to be more readily observable for working capital accruals. For the majority of firms the cycle from outlay of cash for purchases to receipt of cash from sales (which we call the "operating cash cycle") is much shorter than the cycle from outlay of cash for long-term investments to receipt of cash inflows from the investments (the "investment cycle").

38p bin_pham 06-02-2013 46 3   Download

Based on the discussion of contracting's implications for earnings calculation, we model operating cash flows and the formal accounting process by which forecasted future operating cash flows are incorporated in earnings. The modeling enables us to generate specific integrated predictions for: i) the relative abilities of earnings and operating cash flows to predict future operating cash flows; and ii) firms' time series properties of operating cash flows, accruals and earnings. We also predict cross-sectional variation in the relative forecast-abilities and correlations.

0p bin_pham 06-02-2013 49 3   Download

We use discretionary accruals as a measure of earnings quality (Beneish and Vargus, 2002; Chan, Chan, Jegadeesh, and Lakonishok, 2006). According to the accounting identity, earnings are equal to cash flows plus accruals. Accruals are accounting adjustments designed to better reflect firms’ fundamental operations. However, accruals are subject to managers’ discretion, which may distort reported earnings.

21p quaivattim 04-12-2012 68 1   Download

You cannot predict the future or control the present—these are prime directives governing the creation and use of options. This text takes the mystery out of predicting and profiting from the future price trends of stocks and futures contracts using fundamental and/or technical analysis along with option strategies that manage the associated risk. Savvy market operators have devised methods of attacking the markets aggressively, while protecting themselves from the daily risk of loss.

271p kimngan_1 05-11-2012 67 14   Download

Future A term used to designate all contracts covering the sale of financial instruments or physical commodities for future delivery on a commodity exchange. Future investment opportunities The options to identify additional, more valuable investment opportunities in the future that result from a current opportunity or operation. Future value The amount of cash at a specified date in the future that is equivalent in value to a specified sum today.

10p hanhphuc51 20-12-2010 77 12   Download

Chapter 3 Financial Statements, Cash Flow, and Taxes a. The annual report is a report issued annually by a corporation to its stockholders. It contains basic financial statements, as well as management’s opinion of the past year’s operations and the firm’s future prospects.

17p summerflora 27-10-2010 192 57   Download