Company Performance during Covid-19:  Impact of Leverage, Liquidity and Cash Flows

Shaharuddin, Sara Naquia Hanim; Mahmud, Radziah; Azhari, Nor Khadijah Mohd; Perwitasari, Widya

doi:10.21834/ebpj.v6i17.2878

Cited by 10 publications

(6 citation statements)

References 14 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Regression results for OLS, FEM, REM model of CFI significance level at 1%. Regarding other independent variables, ROA has become a statistical-variable, and has positive relation with CFO at statistically significant at the 1% level, this result completely consistent with the findings ofShaharuddin et al (2021). Leverage has a negative effect on CFO at the significance level of 1%, this outcome is opposite withShenoy & Kock (1996).…”

supporting

confidence: 80%

The Impact of Covid-19 on the Cash Flow of Food and Beverage Industry

et al. 2024

Glob Bus Financ Rev

View full text Add to dashboard Cite

Purpose: The food and beverage industry is one of the industries that has its own specific products in the manufacturing industry, and it is indispensable for a developing economy. Therefore, research on the impact of Covid-19 on the movement of cash flows in food and beverage companies is necessary to better understand the status of manufacturing enterprises. Design/methodology/approach: To examine the impacts of Covid-19 on cash flow of food and beverage companies, the researchers used financial data from the Fiin Pro database of 33 Vietnamese food and beverage companies over 6 years from 2017 to 2022. The study used the regression model analysis data regression analysis with the Feasible generalized least squares (FGLS) method by using the multi-regression model developed by the previous studies. Findings: To examine the impacts of Covid-19 on cash flow of food and beverage companies, the researchers used financial data from the Fiin Pro database of 33 Vietnamese food and beverage companies over 6 years from 2017 to 2022. The study used the regression model analysis data regression analysis with the Feasible generalized least squares (FGLS) method by using the multi-regression model developed by the previous studies. Research limitations/implications: Firstly, the study only utilizes model adjustment through FGLS but does not address the endogeneity phenomenon. Secondly, the study only focuses on developing countries without comparison to developed countries. Therefore, the authors propose some implications for future research. Firstly, studies could continue to expand on examining the endogeneity phenomenon. Secondly, research could broaden its scope to include other developing countries for a deeper comparison. Originality/value: The research will help food and beverage industry enterprises predict cash flow within the company when a crisis like COVID-19 occurs. This will assist enterprises in better preparing for business operations and enhancing competitive capabilities during crisis periods.

show abstract

supporting

confidence: 80%

The Impact of Covid-19 on the Cash Flow of Food and Beverage Industry

et al. 2024

Glob Bus Financ Rev

View full text Add to dashboard Cite

show abstract

“…There are expenses associated with having too much money, such as the possibility cost of not using that money to invest in something that would increase your income. Cash assets typically yield extremely little return in comparison to the potential advantages from investments in the business or financial markets (Shaharuddin et al, 2021). The trade-off idea states that when a business accumulates more cash on hand, there are less advantages to holding that cash while there is a greater opportunity cost.…”

Section: Theory and Hypotheses Trade-off Theorymentioning

confidence: 99%

Untangling the Puzzle of Cash Holding Net Working Capital & Financial Performance: A Case of Pakistan Stock Market

Raza,

Riaz,

Riaz

et al. 2023

JAFEE

View full text Add to dashboard Cite

Purpose:This study examines the impact of liquidity, cash flow operations, and cash holding on a firm’s profitability, with a moderating role of net working capital.The trade-off and pecking order theories are studied to formulate hypotheses to test the explanatory variables that affect a firm’s profitability of companies in Pakistan Stock Market. Methodology:The quantitative approach was used in this study and the panel data of selected companies were extracted from the Osiris database from 2009 to 2018. Findings:The results show a significant positive connection between liquidity, cash flow operations, cash holdings, net working capital and ROA. As a result, the study’s model was accepted, explaining that liquidity, cash holdings, and cash flow operations positively and significantly affect the ROA. Implications/Originality/Value:Limited evidence is available regarding the impact of net working capital on the affiliation between cash holding and profitability within the Pakistan Stock Market. The present study endeavors to address the above gap by investigating the moderating impact of net working capital on the association between selected factors of cash holding and profitability.

show abstract

“…Although some industries (e.g., health insurance) have developed during the epidemic (Ye et al, 2021), the adverse economic effects are more evident (Rababah et al, 2020;Shen et al, 2020;Lee and Lu, 2021). The epidemic has a significant impact on the companies' financial situation (Shaharuddin et al, 2021), and robust financial strategies are conducive toward improving companies' performances during the epidemic (Golubeva, 2021). Meanwhile, the change in the company's office mode also poses a challenge to the company's management level (Muttaqin et al, 2020).…”

Section: Educational Inequality and Social Change Under The Covid-19 ...mentioning

confidence: 99%

Would Educational Inequality Aggravate Environmental Pollution? —Evidence From Spatial-Based Panel Analysis in China

Liu

Yang

2022

Front. Environ. Sci.

View full text Add to dashboard Cite

Educational inequality has always been the most discussed topic in China, and it may also result in a series of social problems with an expansionist trend. More specifically, education issues have possible influences on environmental activities, while some of them are unaccounted for. To fill in the gaps where few studies focus on the relationship between inequality and environmental pollution, we empirically study the impact of educational inequality on air quality as fine particulate matter (PM2.5) using panel data from 30 provinces and cities in China. Based on an analysis of the imbalanced distribution of educational level and individual behaviors, we theoretically infer that deepening educational inequality weakens individual environmental behaviors and thus aggravates environmental quality. We undertake a panel data analysis and, to a certain extent, confirm our expected negative relation. To precisely estimate the causality, we consider the spatial spillover effect to be a key property of air pollutants. We find that widening educational inequality, which is measured by the Gini coefficient of education, causes environmental deterioration. More specifically, educational inequality will inhibit the level of regional technological innovation, thereby damaging environmental quality. In addition, we estimate a series of other variables about education and find that enhancing educational expenditure and educational resources at the regional level of education would improve air quality. Our results suggest that even from an environmental perspective, governments should take measures to prevent the potential excessive centralization of educational resources. Efforts to achieve equality in education engender not only social fairness but also practical significance for environmental protection.

show abstract

Company Performance during Covid-19: Impact of Leverage, Liquidity and Cash Flows

Cited by 10 publications

References 14 publications

The Impact of Covid-19 on the Cash Flow of Food and Beverage Industry

The Impact of Covid-19 on the Cash Flow of Food and Beverage Industry

Untangling the Puzzle of Cash Holding Net Working Capital & Financial Performance: A Case of Pakistan Stock Market

Would Educational Inequality Aggravate Environmental Pollution? —Evidence From Spatial-Based Panel Analysis in China

Contact Info

Product

Resources

About