Financial statement analysis: a review and current issues

Jackson, Andrew B.

doi:10.1108/cfri-10-2021-0208

Cited by 16 publications

(5 citation statements)

References 49 publications

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“…We collated these data reflecting the fundamentals of the company, which involves the size, profitability, leverage, asset liquidity, book‐to‐market ratio, and equity concentration. To reduce the effects of outliers on our results, we winsorize the continuous variables at the 1 st and 99 th percentiles (Jackson, 2022). Next, dropping a fraction of firm‐year observations with abnormal values on key variables, we intersect the CSMAR and RESSET databases.…”

Section: Sample Variables and Methodologymentioning

confidence: 99%

Corruption and privatization: Evidence from a natural experiment in China

Zhu

Kong

2022

Econ of Transit and Inst Chang

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This paper investigates how government corruption shapes state-owned enterprises' (SOEs) privatization. To establish causality, we exploit a natural experiment (i.e., the investigations of the Central Commission for Discipline Inspection) to document that SOEs significantly deepen privatization after the crackdown on corruption. Further evidence demonstrates two plausible mechanisms driving our findings. Specifically, anti-corruption campaign: 1) accelerates privatization process by curbing the underpricing transfers to state entities and encouraging the normal transfers to private entities or individuals; and 2) by reducing managers' incentives to maintain the dominance of state ownership for expropriation through the discretion of perk consumption. Moreover, our findings are particularly pronounced for SOEs located in areas with high levels of social trust, government intervention, and less information asymmetry.

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Section: Sample Variables and Methodologymentioning

confidence: 99%

Corruption and privatization: Evidence from a natural experiment in China

Zhu

Kong

2022

Econ of Transit and Inst Chang

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“…Hal ini akan dapat meningkatkan kepercayaan antara manajemen dan pemegang saham bahwa manajemen menjalankan perusahaan dengan baik dan berusaha mengoptimalkan nilai bagi pemegang saham. Selain itu, sesuai temuan pada penelitian terdahulu, pada akhirnya informasi ini bisa digunakan oleh pemangku kepentingan dan manajemen untuk membuat kebijakan dan keputusan terkait organisasi/perusahaan bisnis (Ahmed, 2018;Astuti et al, 2021;Jackson, 2022).…”

Section: Hasil Dan Pembahasanunclassified

Pengaruh Perbandingan Kinerja Keuangan Dua dari Lima Besar Perusahaan Farmasi Indonesia

Hakiki,

Nugroho

2023

Manajemen Bisnis

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Knowledge about financial performance is considered very important for companies and investors. This research aims to compare the financial performance of two of Indonesia's top five pharmaceutical companies. This research uses financial ratio analysis, namely liquidity ratios, solvency ratios, activity ratios, profitability ratios, and market ratios. The method used in this research is comparative research using statistical analysis. The results of this research show that the first company has a higher liquidity and profitability ratio. In contrast, the second company has a better capacity to meet its interest obligations, even though its financial performance is more volatile. There were significant differences in twelve ratios between the two companies, and no significant differences were found in the other six ratios. Research findings can be a basis for the market to view that the first company has more potential to grow in the future and support the decision-making process for stakeholders.

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“…In addition, we manually check the data of fiscal revenue, agricultural tax revenue, and central transfer payment among 2945 counties in 2004. After matching the two datasets, we performed data cleaning to improve data quality (Jackson, 2021). All continuous variables are winsorized at the 1st and 99th percentiles.…”

Section: County-level Datamentioning

confidence: 99%

Revenue pressure of local governments and firm productivity: Evidence from a natural experiment in China

Zhu

Kong

2022

Econ of Transit and Inst Chang

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This study investigates how the revenue pressure of local governments affects firm total factor productivity (TFP).To establish causality, we exploit a policy shock in China, that is, the cancellation of agricultural tax in 2005. Specifically, we document that governments suffering from sudden tax reduction substantially increase local firms' productivity in the subsequent periods. Furthermore, we use the difference-in-differences-in-differences approach to explore the potential channels through which the local fiscal squeeze improves firm productivity. Local firms increase capital and employment and adopt a higher capital-to-labour substitution for a higher TFP in response to the local governments' fiscal squeeze. We find that the effects of revenue pressure incentives on productivity are prominent in firms with low resource misallocation and high labour quality. Our finding suggests that local governments could improve firm productivity in response to fiscal revenue pressure by enhancing resource allocation efficiency and labour quality.

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Financial statement analysis: a review and current issues

Cited by 16 publications

References 49 publications

Corruption and privatization: Evidence from a natural experiment in China

Corruption and privatization: Evidence from a natural experiment in China

Pengaruh Perbandingan Kinerja Keuangan Dua dari Lima Besar Perusahaan Farmasi Indonesia

Revenue pressure of local governments and firm productivity: Evidence from a natural experiment in China

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