International Journal of Commerce and Finance (IJCF - İstanbul Commerce University)
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The Relationship between Organizational Identification and Job Satisfaction in Retail Industry
Get PDFThe purpose of this study is to examine the relationship between organizational identification and job satisfaction among retail industry employees. Quantitative data was gathered using questionnaires. To ensure the scales' validity, principal component analysis was used. Cronbach alpha values were calculated to assess reliability. Simple regression was used to test the theoretical model hypothesis. The analyses were carried out using the statistical software SPSS. As the result of the analyses performed, the main hypothesis was supported. It has been empirically proven that Organizational Identification has positive effect on Job Satisfaction. Although these two constructs are subjects that have been researched for years, this research adds to the literature by investigating how the job satisfaction of employees working at a particular sector, the national retail industry, is affected within the framework of organizational identification. As a result, the study's findings indicated that further research should be done to improve organizational identification among employees in the retail industry to boost job satisfaction and decrease the risk of leaving
Analysis of the Ideal Sukuk Structure from the Perspective of Maqasid Sharia of Wealth (Indonesia Case)
Get PDFThe purpose of this study is to analyze the existing sukuk structure in Indonesia based on the perspective of maqasid sharia. Furthermore, the method used in this study is the quality supported by secondary data, namely financial statements and prospectuses of companies that issue sukuk. The companies sampled for this study were companies that issued sukuk, a total of 33 companies. The result of this study is that there are several outstanding sukuk, namely (i) Sukuk Ijarah I Angkasa Pura I Year 2016; (ii) Sukuk Mudharabah Lontar Papyrus Pulp & Paper Industry I Year 2018; (iii) Sukuk Ijarah I Moratelindo Phase II 2020; (iv) Sukuk Wakalah Medco Power Indonesia I Year 2018; (v) Sukuk Ijarah Berkelanjutan III Indosat Phase I Year 2019; (vi) Sukuk Mudharabah OKI Pulp & Paper Mills I Year 2021; (vii) Sukuk Ijarah Series III PLN Phase I Year 2018. This study concludes that the market, investors, Sukuk issuers, regulators, and other parties in the issuance of Sukuk, still consider that sukuk issuance is complex and not simple. In addition, community literacy over Sukuk is also still lacking
Gender, Information Technology, Financial Literacy, Financial Accessibility, And Performance Of Msmes In Indonesia
Get PDFMSMEs have become the concern of governments in many countries because of their contribution to improving the economy. For this reason, this study analyzes several factors that can affect the performance of SMEs. This study analyzes gender disparities, technology use, financial literacy, and financial accessibility on the performance of MSMEs. A total of 245 SMEs became respondents in this study. The questionnaire technique was used to collect data delivered directly to MSME managers in Riau, Indonesia. Data analysis using SEM with Warp PLS 8.0 shows no difference in performance between women and men. Meanwhile, other factors, such as the use of technology, financial literacy, and financial accessibility, significantly improve the performance of MSMEs
Mediating effect of Financial Self-Control in the relationship between Financial Behavior and Financial Wellbeing: Evidence from Osun State, Nigeria
No full textThis study examines the mediating effect of financial self-control in the relationship between financial behavior and financial well-being. Current research conceptualizes financial behavior in terms of credit discipline, savings and investment, and financial awareness. The data from this study came from a survey of 550 employees who have worked with the Osun government for at least 10 years. The structural equation model (SEM) using STATA version 15 was used to analyze the data. This study establishes a positive and significant relationship between financial behavioral parameters and financial self-control and financial wellbeing. It also showed that financial self-control is a powerful predictor of financial well-being. Given this, civil servants must be rational in their financial behavior in order to provide post-retirement financial stability and long-term financial well-being. In addition, the results of the survey provide relevant data for governments and educators to hold seminars and workshops on the importance of financial behavior and self-regulation. This greatly contributes to ensuring that civil servants are financially safe after retirement and well cared for in the long run
The Research on Women Independent Board Directors in Turkey
Get PDFoai:ojs.ijcf.ticaret.edu.tr:article/290The main aim of this study is to explore the profiles of women independent board directors in BIST 100 companies and members of the Association of Woman on board of Directors (AWBD) in Turkey. The depth interviews were conducted with nine women independent board directors. Questions were asked related to their backgrounds, expectations, reasons and process of their appointments, their contributions to the companies, their positions on the board of directors, their relations with the chairmen and other directors, expectations of companies from directors, and pathways for women to be board directors. It is find out that they are appointed due to their qualifications such as education, experience, expertise and networks. They want to make contributions to their current companies and be appointed as directors of boards of other companies as well. They try to develop good relations with the chairmen and other directors of the board. Also, they try to improve their performances. This study is a unique study with its approach and findings. Its questions were developed by authors based on the literature review and their knowledge in the field. These comprehensive questions were not asked to women board directors before especially in Turkey
The impact of ESG performance over financial performance: A study on global energy and power generation companies
Get PDFThis study aims to analyze the impact of ESG performance over the financial performance of global energy and power generation companies which are considered as one of the most sensitive industries. The study explores the effect of ESG performance over the financial performance of the corporations operating business in sensitive industries such as energy and power generation firms regarding the profitability and market value of the companies using panel data regression. ESG performance data and financial data of 192 energy and power generation firms from 2008 to 2019 were taken from Thomson Reuters Eikon database for the statistical analyses. The findings suggest that ESG performance has both positive and significant impacts over the profitability of the firms but negative impact over the market value of the firms. Besides, ESG performance is correlated in a significant way with the financial performance of energy and power generation corporations. This study adds value and importance to the sustainable business practice and sustainability reporting for the energy and power generation companies worldwide. Moreover, the findings of the study would assist the relevant investors, business analysts, industry regulators, policymakers, and decision-makers all other stakeholders who are interested in ESG and sustainability to take noteworthy decisions
The Effects of Investor Behavior on Market Predictability
Get PDFThis study aimed to test the effects of investor behavior on the predictability of the market by testing CAPM estimation errors in negative growth period and growth period of the market. This study also aims to draw attention to the existence of some factors that may affect the CAPM estimation errors. Negative growth period is the period in which irrational behavior is likely to occur. Growth period is the period when irrational behaviors are less common. CAPM estimation errors calculated by jensen’s alpha, sharpe ratio, sortino ratio and treynor ratio were compared by T-Test and Mann-Whitney U Test during negative growth periods and growth periods.USA-S&P 500, Germany-DAX 100, England-FTSE 100, France-CAC All Tradable, Canada-S&P TSX, Japan-Nikkei 225 developed countries and their indices and India S&P BSE 200, China-SSE Composite, South Africa &-FTSE JSE African All Share, Turkey-BIST 100 developing countries and their indices included in the study. Between January 31,2005 and December 31,2018 monthly closing prices of the indices, monthly closing prices of stocks listed in consumer staples sectors and consumer discretionary sectors were used.As a result of the study, it has been observed that CAPM estimation errors calculated by jensen’s alpha and treynor ratio in consumer staples and consumer discretionary sectors in developed and developing countries do not differ during negative growth periods and growth periods of the market. It cannot be said that CAPM is more reliable or unreliable in negative growth periods compared to growth periods. It has been determined that CAPM estimation errors calculated by sharpe ratio and sortino ratio differ during negative growth periods and growth periods. It can be said that CAPM is less reliable in negative growth periods compared to growth periods
Debt Financing and Growth of Quoted Manufacturing Firms in Nigeria
Get PDFThe study examined the impact of debt financing on the growth of manufacturing companies in Nigeria within 2011 to 2018. The study employed the ex-post facto research design. Panel regression technique was employed for the analysis, but Hausman test was used determine which model is actually accurate for inference drawing among fixed and random models. The findings based on the random effect revealed that LTD (Long-term debt) has a negative significant effect on SG (Sales growth) at (β= -3.37, P<0.05), STD (Short-term debt) has a positive significant effect on SG (Sales growth) at (β= -0.08, P<0.05) and ROE (Return on equity) has a negative insignificant effect on SG (Sales growth) at (β= -0.24, P>0.05). The study recommended that firm can mix the periodic debt components of short-term and long-term debt in its capital structure, because of the benefit of tax shield inherent in the postulation of the static-trade off theory, but must also make the sure interest payment on debt does not affect the profitability status and growth of the company. Business enterprises can use debt, as it offers the potential to increase the volume of their operations and increase the average return on their equity. Few studies have been able to investigate the influence of sales growth on the debt exposure of the manufacturing companies, knowing full well that sales in directly proportional to increase in revenue.Keyword: Debt Financing; Long-term debt; Short-term debt; Growth; Firms; NigeriaJEL Classification: G31, G32, C
Moderated Mediation Model of The Effect of Managerial Ownership on Financial Performance
Get PDFThis research examines the impact of managerial ownership on financial performance with earning management as an intervening variable and audit quality as a moderating variable. This study's population included all manufacturing enterprises in the basic industrial and chemical industries listed on the Indonesia Stock Exchange between 2016 and 2018. The sampling technique used in this study was purposive sampling, which yielded 60 observations from 20 companies. The results indicated that (1) Managerial ownership has a positive impact on financial performance, (2) Audit quality has a positive impact on financial performance,(3) The relationship between managerial ownership and financial performance is not mediated by earning management, (4) Audit quality moderates the impact of managerial ownership on financial performance
Convergence of Global Sustainability Reporting Standards: Need of the Hour
Get PDFConvergence of Sustainability Reporting Standards: Need of the Hour: Abstract Effective sustainability reporting is considered to be a meaningful and effective medium of communicating with stakeholders about how companies are performing on the basis of their objectives. In this challenging and dizzyingly fast-changing sustainability reporting landscape, another most notable occurrence is the acceleration of efforts to converge toward a single and uniform sustainability reporting standard.The five organisations namely SASB, CDP, GRI, CDSB and IIRC that are involved in the setting of global standards relating to sustainability reporting have expressed their intention to work jointly to develop a single set of sustainability reporting standards. New initiatives from the World Economic Forum and IFRS Foundation support the case for globally accepted sustainability reporting standards. Moreover, the COVID-19 pandemic has highlighted the importance of sustainable and resilient business models to support the economic recovery strategies of companies, along with an insightful reporting to provide stakeholders with a clear understanding of those models. The pandemic has also raised awareness of the inextricable links between the environment, society and the regulatory and policy environment. These developments are directed towards an urgent need for a more robust sustainability reporting framework.It is expected that the application of these standards will be compulsory irrespective of its size- big or small or irrespective of its nature- private or public throughout the globe. The exact timeline for implementation of these standards remains a difficult issue to ascertain, but it is expected that it would be within a few years.