This study aims to test the effect of working capital management on firms’ profitability and the effect of this relationship on sustainable growth. Our sample firms are 136 manufacturing firms listed in the Indonesian Stock Exchange from 2010 to 2017. We use data panel regression with fixed effect estimation model to analyze our data. The results demonstrate that working capital significantly affects firms’ profitability. However, working capital management does not exhibit a significant direct influence on sustainable growth but a significant indirect influence through firms’ profitability. Thus, this study suggests that firms need to manage their working capital to increase their profits and eventually to achieve sustainable growth. This study contributes by including sustainable growth in the analysis of the relationship between working capital and firm performance. In addition, this study will likely contribute to managers in efforts to increase sustainable growth for their enterprises through working capital management.
The importance of disturbances for the dynamics of tropical forests has been described by Whitmore & Burslem (1998). Among the phenomena which they classify as large scale disturbances are those caused by wind. The most extensive of these occur within the hurricane (cyclone) belt (10-20° from the equator) but outside this belt large blowdowns of trees are known to occur, perhaps most spectacularly in the Brazilian Amazon (Nelson et al. 1994). There is evidence that rare wind storms influence the dipterocarp rain forests of Peninsular Malaysia, 2-6°N. One famous storm in November 1880 which devastated hundreds of square kilometres of forests in Kelantan, north-east Malaya, was probably an aberrant cyclone (Wyatt-Smith 1954). Smaller windstorms which have blown down several hectares of forests have been reported from Malaysia including Borneo (Ashton 1993) but their frequency and extent have not been well documented (Whitmore & Burslem 1998). At Barito Ulu, Central Kalimantan, one such storm occurred recently and the fortuitous combination of a well patrolled trail system and the localization of the storm has allowed a detailed assessment of the forest damage.
Purpose The study aims to empirically analyze the effects of the presence of female top managers and owners on corporate tax compliance. Design/methodology/approach Data for analysis were sourced from the World Bank Enterprise Surveys that involved 23,178 private firms in 98 countries. The surveys used a stratified random sampling method by using three criteria, namely, firm size, business sector and geographic region, within each country. Further, data are analyzed using the ordinal logistic regression and supported by the marginal effect analysis. Findings The results show that the presence of female top managers and owners is a significant factor that underlies the firm-level tax compliance difference when firms exhibit relatively lower compliance. Practical implications Although this study shows that the determinants of corporate tax compliance are very complex, there are also crucial roles of top managers and owners' gender. This study advises firms to use the gender equality strategy to generate the best human capital, especially in their top management levels. Besides, this study can be helpful in designing policies that facilitate women to reach top managerial levels or to own businesses as an alternative method to enhance tax compliance for developing countries that fail to generate optimal corporate income tax revenues. Originality/value To the best of the authors’ knowledge, no previous studies examine the effects of the presence of female top managers and business owners on firms’ tax compliance policies. This study contributes to extend the understanding of the important role of women in corporate strategic decision-making, especially in taxation policies in various developing countries.
English-language editing of that article was financed under Agreement 672/ P-DUN /2019 with funds from the Ministry of Science and Higher Education allocated to the popularization of science.
Overconfidence caused investors overestimate their knowledge, underestimate risk and exaggerate their ability to control events. This led to excessive trading, unwarranted risk taking, and ultimately, financial losses. The aim of this study was to analyze the relationship of overconfidence and confirmation bias and self-attribution bias. The subjects in this experiment were 53 students in finance classes at Faculty of Economic and Business.Data that had been collected was analyzed using descriptive and inferential analysis techniques using bivariate correlation. The result of this study showed that there was a positive relationship between confirmation bias and overconfidence. However, there was no a positive relationship between self-attribution bias and overconfidence. Abstrak Overconfidence menyebabkan investor melebih-lebihkan pengetahuan mereka, meremehkan risiko, dan membesar-besarkan kemampuan mereka untuk mengontrol suatu kejadian. Hal ini menyebabkan trading yang berlebihan, pengambilan risiko yang tidak beralasan, dan akhirnya, kerugian keuangan. Tujuan dari penelitian ini adalah untuk menganalisis hubungan confirmation bias, overconfidence, dan bias self-attribution. Subyek dalam penelitian ini adalah 53 mahasiswa di kelas keuangan di Fakultas Ekonomi dan Bisnis. Data yang telah dikumpulkan kemudian dianalisis menggunakan teknik analisis deskriptif dan inferensial menggunakan korelasi bivariat. Hasil penelitian ini menunjukkan bahwa ada hubungan positif antara confirmation bias dan overconfidence. Namun, tidak ada hubungan positif antara self-attribution bias dan overconfidence.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.