An exploratory study of an early stage R&amp;D-intensive firm under financialization

Gleadle, Pauline; Haslam, Colin

doi:10.1016/j.accfor.2009.10.002

Cited by 19 publications

(9 citation statements)

References 12 publications

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“…Presently, business context forces firms, particularly small-and medium-sized enterprises (SMEs), to be innovative, review their methods regularly, adjust their strategy to their changing environment (Ates et al, 2013) and keep a close eye on their performance (Raymond et al, 2009;Cocca and Alberti, 2010). However, research has shown that SMEs often find it difficult to implement a performance measurement and management systems (PMMSs) due to their inherent characteristics, such as their limited human and financial resources, the absence of formal organizational structures and strategies and the dominance of intuition in decision-making (Gleadle and Haslam, 2010;Hudson et al, 2001;King et al, 2010).…”

Section: Introductionmentioning

confidence: 99%

Performance measurement and management for manufacturing SMEs: a financial statement-based system

Bahri

St‐Pierre

Sakka

2017

MBE

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Purpose The purpose of this paper is to propose a performance measurement and management system (PMMS) for small- and medium-sized enterprises (SMEs) based on an analysis of the connections between the firm’s business practices and financial results as reported in the financial statements. Design/methodology/approach Secondary data on the business practices and financial statements of 108 Canadian manufacturing SMEs were taken from a private database. Items from financial statements were used to measure the firm’s performance in specific areas such as sales and current assets management, while net profit was used to measure the overall performance. Information about the level of adoption of more than 120 business practices by the sampled firms was also used. Step-wise regression was then performed for two consecutive years to identify the business practices that had significantly influenced the items in the financial statements. Findings The findings show that an understanding of the business practice/financial statement connection can be useful in managing SME performance. The regression analyses provide rich and interesting results. They indicate that some practices influence performance quickly, while others have a deferred effect. In addition, some practices have impacts that are significant in specific areas of the organization but insignificant in terms of overall performance, while others affect the firm’s overall performance but not the specific area they are intended to improve. Research limitations/implications The main limitation of the study is the non-probabilistic sample. However, the sampled SMEs vary widely in their characteristics, which should partially mitigate the negative impacts of a non-probabilistic sample. Practical implications The paper offers a useful and low-cost PMMS for SMEs, using information that is easily available to owner-managers. It shows that SME performance can be managed using a simple system built around the firm’s financial statements. Originality/value The study is one of the first to empirically test the connection between an extensive list of SME business practices and the financial results presented in the firms’ financial statements.

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Section: Introductionmentioning

confidence: 99%

Performance measurement and management for manufacturing SMEs: a financial statement-based system

Bahri

St‐Pierre

Sakka

2017

MBE

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“…In a similar vein, the national level is central to Belfrage's (2008) analysis of how states manage new pension systems. Furthermore, financialisation has been studied and connected to internal corporate strategies and management orientation (Andersson et al, 2010;Gleadle and Haslam, 2010;Lazonick and O'Sullivan, 2000). In addition, the individual level has been central in studies of how individuals manage and are affected by their private investments, pensions, mortgages, and credit card expenditures, etc.…”

Section: Concluding Discussionmentioning

confidence: 99%

Situating financial literacy

Bay

Catasús

Johed

2014

Critical Perspectives on Accounting

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This article appeared in a journal published by Elsevier. The attached copy is furnished to the author for internal non-commercial research and education use, including for instruction at the authors institution and sharing with colleagues. Other uses, including reproduction and distribution, or selling or licensing copies, or posting to personal, institutional or third party websites are prohibited. In most cases authors are permitted to post their version of the article (e.g. in Word or Tex form) to their personal website or institutional repository. Authors requiring further information regarding Elsevier's archiving and manuscript policies are encouraged to visit: http://www.elsevier.com/authorsrights

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“…The finance literature considers the impact of capital markets on the company's financial performance and the distribution of resources among different stakeholders [12]. In an efficient market, where information is quickly evaluated and reflected in the market prices, companies use many possibilities to finance their operations, among which include the issuing of shares.…”

Section: Research Hypothesesmentioning

confidence: 99%

The Share Price and Investment: Current Footprints for Future Oil and Gas Industry Performance

Jianu

2018

Energies

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The share price has become a very important indicator for shareholders, banks, and financial institutions evaluating the performance of companies. The oil and gas industry seems to be in a difficult era of development, due to the market prices for its products. Moreover, climate change and renewable energies are barriers for fossil energy. This state of affairs, and the fact that oil and gas shares are considered one of the most solid and reliable shares on the London Stock Exchange (LSE), have drawn our attention. International institutions encourage the investment in the oil and gas economic sector. This study investigates how investments of oil and gas companies in long-term assets influence the share price. Using the Ohlson share price model for a sample of 51 listed companies on the LSE proves that investments in long-term assets influence the share price in the case of companies which record losses. Investments in long-term assets are responsible for the attractiveness of the oil and gas company shares.

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An exploratory study of an early stage R&D-intensive firm under financialization

Cited by 19 publications

References 12 publications

Performance measurement and management for manufacturing SMEs: a financial statement-based system

Performance measurement and management for manufacturing SMEs: a financial statement-based system

Situating financial literacy

The Share Price and Investment: Current Footprints for Future Oil and Gas Industry Performance

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