Innovation intensity of military-connected firms

Harymawan, Iman; Putra, Fajar Kristanto Gautama; Amalia, Rizki; Nasih, Mohammad

doi:10.1108/ijmf-12-2020-0616

Cited by 14 publications

(25 citation statements)

References 46 publications

(105 reference statements)

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“…If this were the case, the results of this study would be subject to subjective selection bias. Similar to previous studies, we used Heckman's two-stage model to address this issue (Harymawan et al 2021).…”

Section: Endogeneity Issuementioning

confidence: 99%

Risk Management Committee, Auditor Choice and Audit Fees

Harymawan

Prabhawa

Nasih

et al. 2021

Risks

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We find that risk management committees and BIG4 audit firms contribute to audit fees. We use observations of 895 companies registered in Indonesia for 2014–2018, and to answer our hypothesis we used ordinary least squares analysis. The results show that BIG4 weakens the relationship between RMC and audit fees. Our study proves that higher demand for audit coverage will occur if there is a risk management committee within the company. As a result, audit fees increase. RMC may demand high-quality external guarantees, but the presence of BIG4 as a moderating variable reduces the relationship between the two variables. We assume that this can happen because auditors can work more efficiently if the company has an RMC, auditor(s) could indirectly reduce the risk because it is partially results from the performance of the RMC. In addition, we also use the robustness test to handle the endogeneity problem with consistent results as OLS. These findings provide evidence for policy makers about the relationship between audit fees and risk management committees.

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Section: Endogeneity Issuementioning

confidence: 99%

Risk Management Committee, Auditor Choice and Audit Fees

Harymawan

Prabhawa

Nasih

et al. 2021

Risks

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“…Third, in the specific context of INVEFF, Indonesia may also highlight some importance. Harymawan, Putra, Rizki et al, (2021) imply that measuring an appropriate investment amount may be tricky in Indonesia due to its unpredictable innovation and investment environment. In line with the previous argument, General Electric (2018) states that Indonesia has a stable innovation environment.…”

Section: Introductionmentioning

confidence: 99%

Investment efficiency and environmental, social, and governance reporting: Perspective from corporate integration management

Harymawan

Nasih

Agustia

et al. 2022

Corp Soc Responsibility Env

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This article examines the relationship between investment efficiency (INVEFF) and environmental, social, and governance (ESG) reporting. We posit corporate integration management (CIM), which is reflected by the level of INVEFF, is a crucial driver for the better quality of ESG reporting. But there is a second possibility which ESG reporting is viewed as a different firm's burden, and therefore, it is a form of inefficiency. We test our hypothesis in Indonesia's unique setting of nonfinancial listed firms from 2010 to 2018. We find that INVEFF is confirmed as one of the critical drivers for enhancing ESG reporting quality. Our result is consistent during several robustness checks. Furthermore, we document that a positive relationship between INVEFF and ESG reporting is not incurred in all circumstances. Our study is one of few studies that focus on quantitative measurement of CIM and examines its relationship with ESG reporting.

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“…political connections (Hou et al. , 2017); military connections (Harymawan et al. , 2022); product market competition (Le et al.…”

Section: Introductionmentioning

confidence: 99%

Firm-level political risk and corporate innovation: evidence from US listed firms

Ahmed

Muttakin

Khan

2022

IJMF

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PurposeThe study examines the association between firm-level political risk and corporate innovation and also this study explores how financial constraint and growth level of a firm influence this association.Design/methodology/approach A sample of 14,140 firm-year observations of the US firms from 2003 to 2020 is used. Unlike prior studies, this study uses a firm-level measure of political risk recently developed by Hassan et al. (2019) and measure innovation by patent and patent citation data and a text-based measure. A regression technique is used for empirical testing.FindingsThis study finds that firm-level political risk is negatively associated with innovation and also document that firm-level political risk has a negative impact on innovation for financially constrained and high growth firms. The overall results are robust after addressing the issue of potential endogeneity using entropy balancing and two-stage least squares regression techniques. This study also documents qualitatively consistent results after using alternative measures of innovation as well as firm-level political uncertainty.Research limitations/implicationsThe findings of this study could help the managers to make better investment decision and improve economic efficiency through understanding the effect of firm-level political risk on innovation activities.Originality/valueThe study concentrates on firm-level political risk and innovation and presents new insights that political risk at the microlevel is an important determinant for investment in innovative activities.

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Innovation intensity of military-connected firms

Cited by 14 publications

References 46 publications

Risk Management Committee, Auditor Choice and Audit Fees

Risk Management Committee, Auditor Choice and Audit Fees

Investment efficiency and environmental, social, and governance reporting: Perspective from corporate integration management

Firm-level political risk and corporate innovation: evidence from US listed firms

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