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Journal articles on the topic 'Financial performance of the enterprise'
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1
Bojnec, Štefan, and Sabina Žampa. "Subsidies and Economic and Financial Performance of Enterprises." Journal of Risk and Financial Management 14, no. 11 (October 20, 2021): 505. http://dx.doi.org/10.3390/jrfm14110505.
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The aim of this article is to analyze the economic and financial performance of Slovenian enterprises, as a European Union (EU) member state case study. A favorable economic and financial performance is crucial for long-term sustainable enterprise growth and survival. Eight economic and financial performance indicators are used to evaluate the sustainability in the growth of enterprises: seven of them are financial indicators—assets, revenues from sales, equity, net profits, operating efficiency, return on equity, and value added per employee—while the eighth variable is the economic indicator for the number of employees. A distinction is made between enterprises that did and that did not receive subsidies from national and EU funds. Three enterprise-level data sources are combined in the empirical analysis: balance sheet data from enterprise accounts, own surveys data, and government data on public subsidies to enterprises. The mean values and standard deviations of economic and financial indicators based on balance sheet data for the years in two financial periods are estimated. The summary statistics for economic and financial indicators and correlation analysis are conducted and the results of the economic and financial indicators are compared using the parametric paired sample two-tailed t-test that allows comparison between the enterprises in the two financial periods. An increase in the economic and financial indicators is investigated by comparing the enterprises that did receive subsidies with the enterprises that did not receive subsidies in the two financial periods. The empirical results confirm that the value added per employee is the only financial indicator where a positive link is found between the financial indicator and subsidies. The results suggest that subsidies can be important for cash flow into enterprises, but entrepreneurial activities are crucial for favorable economic and financial performance and long-term sustainable growth in a competitive market environment.
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Yi, Jiangnan. "Financial flexibility, dynamic capabilities, and the performance of manufacturing enterprises." Journal of Research in Emerging Markets 2, no. 2 (April 3, 2020): 19–33. http://dx.doi.org/10.30585/jrems.v2i2.465.
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This study explores the mechanism of financial flexibility on enterprise performance from the perspective of dynamic capabilities by testing the relationship among them respectively. This study selects the data of A-share manufacturing companies in Shenzhen and Shanghai from 2011 to 2017 to structure three main variables mentioned above. The test results of the regression analysis indicate that financial flexibility has an interval effect on enterprise performance. Dynamic capabilities play a part in mediating financial flexibility and enterprise performance, which means financial flexibility can influence enterprise performance through dynamic capabilities. This study adds weight to the theory of financial flexibility and dynamic capability and helps enterprises adjust them more effectively in an increasingly complex economic situation.
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Havrylenko, Mykola, Vira Shiyko, Liliana Horal, Inesa Khvostina, and Natalia Yashcheritsyna. "Economic and mathematical modeling of industrial enterprise business model financial efficiency estimation." E3S Web of Conferences 166 (2020): 13025. http://dx.doi.org/10.1051/e3sconf/202016613025.
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The article proposes two methods for evaluating the financial efficiency of a business model of industrial enterprises. In order to evaluate the financial efficiency of the business model of an industrial enterprise, a system of single indicators for assessing the financial condition of the enterprise by such components as financial stability, liquidity and solvency, business activity and profitability was formed. Fishburne’s rule weights the major components of an integral measure of an enterprise’s business model financial performance. In addition, an integral measure of the financial performance of the business model is modeled using the fuzzy set method and taxonomic analysis, which will help to evaluate the financial performance level of the business model more objectively. The comparative analysis of the obtained results by different methods of calculation of integral indicators is carried out.
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Solomon, Daniela, and Simona Dragomirescu. "ASPECTS CONCERNING FINANCIAL PROFITABLENESS ANALYSIS AND ITS PURPOSE IN SUBSTANTIATION OF FIRM’S STRATEGIC FINANCING DECISIONS." STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION, no. 13 (December 17, 2008): 90. http://dx.doi.org/10.29358/sceco.v0i13.28.
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Financial profitableness, relevant indicator in enterprises performance appreciation and of its position on the market, depends on the commercial policy (commercial profitableness), on the engaged capital’s efficiency (economic profitableness), on the policy and financial structure of enterprise (debt degree) offering information both to investors and managers, orienting the enterprise in financing strategic decisions.
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Mugiati, Mugiati. "An Analysis of Factors Affecting the Company Performance in Creating the Competitiveness of Furniture and Printing Small-Sized Enterprises in Jayapura City." Journal of Social and Development Sciences 6, no. 1 (March 30, 2015): 46–55. http://dx.doi.org/10.22610/jsds.v6i1.835.
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This study aims to identify and analyze the influence of human resource management, production, marketing, working capital, organization, government policy, and competitor on the financial performance and competitiveness of Small-sized enterprise in Jayapura City. Data collection methods used were observation, interviews, and questionnaires, the number of samples is 258 Small-sized enterprises in Jayapura. Data were analyzed by applying SEM (structural equation modeling analysis method by making use of Amos Software. The results showed that the factors of production and government policy factors affect the financial performance and competitiveness of small-sized enterprise in Jayapura. While human resource management, marketing, organization and competitors factors affect the financial performance of small-sized enterprise in Jayapura, but does not affect the competitiveness of small-sized enterprise in Jayapura and working capital factor does not affect the financial performance of small-sized enterprise in Jayapura but affect the competitiveness of small-sized enterprise in Jayapura. Then the financial performance factor affects the competitiveness of small-sized enterprise in Jayapura.
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Tabakov, Alexey, and Irina Fomina. "Analysis of risk and threats to financial performance of enterprises in agro-industrial complex." E3S Web of Conferences 273 (2021): 08058. http://dx.doi.org/10.1051/e3sconf/202127308058.
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The article discusses the risk assessment methods of financial performance of an enterprise. The essence of the main risks typical in enterprises of agro-industrial complex is described, sources of risk and factors affecting the financial performance are identified. A logical and probabilistic model of the risk of financial performance of an enterprise is suggested; factors and events that initiate the loss of profit, a decrease in sales revenues and an increase in the costs of enterprises in the agro-industrial complex are revealed. A method for calculating the significant values of risk probability and security areas for the formation of the financial performance of an enterprise is presented. An algorithm for calculating the dependencies was developed and it makes it possible to assess the critical values of indicators of financial and economic activity of an enterprise and the level of risk and threats to financial performance. The expediency of use of the authors’ algorithm in order to optimize the amount and structure of costs and capital. It was stated that the suggested approach allows to monitor continuously the magnitude of risk and threats, to evaluate the effectiveness of measures which reduce the risk of having undesirable financial performance in an enterprise.
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Domanović, Violeta, Jasmina Bogićević, and Bojan Krstić. "Effects of enterprise sustainability on performance." Economics of Sustainable Development 4, no. 2 (2020): 11–23. http://dx.doi.org/10.5937/esd2001011d.
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Contemporary business environment imposes new business rules. The maximization of profit and shareholder value cannot be the only aim of an enterprise. Instead, enterprises are forced to maximize value of all stakeholders in order to survive in the long run. The issue of sustainability has become of crucial significance, and especially measurement and reporting on sustainability, as well as, its effects on financial performances, as still dominant ones in the contemporary business performance measurement models. Hence, the subject of the research is the enterprise sustainability in the contemporary business environment. The aim of the research is to stress the role and the significance of the sustainability in the process of improving the enterprise efficiency. The research results show that the enterprise sustainability has the positive implications on the business performances in the long run, as well as on the welfare of all stakeholders. In order to be more transparent, it is desirable for enterprises to create the sustainability report, in the integration with the traditional business report, which would give the complete overview of enterprise efficiency.
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Chen, Ziyue. "Research on Accounting Intelligence System Modeling of Financial Performance Evaluation." Security and Communication Networks 2021 (February 20, 2021): 1–9. http://dx.doi.org/10.1155/2021/5550382.
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In the current competitive market environment, both enterprises and academia attach great importance to the research of financial performance evaluation. The quality of financial performance directly affects the sustainable development of enterprises. With the deepening of enterprise management concept, enterprises pay more attention to the use of financial performance evaluation analysis to promote the sound development of the whole enterprise. In order to understand the development status and development trend of enterprises and improve the efficiency of enterprise management, it is of great significance to establish a scientific and professional financial performance evaluation model for the sustainable development of enterprises. In this paper, based on FCM clustering algorithm, a fuzzy decision model is established. Combined with the factors affecting the financial performance of enterprises, the corresponding indicators are selected from the four aspects of profitability, operation ability, debt paying ability, and development ability to construct the financial performance evaluation system, and the comprehensive fuzzy evaluation model is constructed according to the financial evaluation system. This paper selects listed companies as the research object to evaluate and analyze the performance of enterprises. The results show that the overall performance of listed companies is not ideal and solvency, operation ability, and development ability need to be enhanced. Finally, in view of the problems existing in the listed enterprises, this paper puts forward the following countermeasures: implement cost assessment and pay attention to cost analysis to strengthen cost control; strengthen the cooperation between industrial chain enterprises and R&D departments; and pay attention to the use of talents and improve the ability of independent innovation.
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Liu, Hui. "An Approach to Evaluating Enterprise Financial Performance Based on the Control Inheritance of Family Businesses with Intuitionistic Fuzzy Information." Journal of Control Science and Engineering 2014 (2014): 1–4. http://dx.doi.org/10.1155/2014/704687.
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We investigate the multiple attribute decision making problems for evaluating the enterprise financial performance based on the control inheritance of family businesses with intuitionistic fuzzy information. We utilize the intuitionistic fuzzy Bonferroni mean (IFBM) operator to aggregate the intuitionistic fuzzy information corresponding to each alternative and get the overall value of enterprise financial performance and then rank the enterprises and select the most desirable one(s) by using the overall value of enterprise financial performance. Finally, an illustrative example for evaluating the enterprise financial performance based on the control inheritance of family businesses is given to verify the developed approach and to demonstrate its practicality and effectiveness.
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Huijiao, Duan. "Internal Control, Manager ability and Enterprise performance – Empirical Analysis Based on DEA data Envelopment Model." E3S Web of Conferences 292 (2021): 02027. http://dx.doi.org/10.1051/e3sconf/202129202027.
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Internal control has become an important part of corporate governance. This paper selects all Chinese A-share listed companies from 2015 to 2019 as samples to study the relationship between internal control and corporate performance, and to investigate the effect of managers’ ability on the process of internal control affecting corporate performance. It is found that there is a significant negative correlation between internal control defects and enterprise performance, which indicates that there are significant internal control defects, which will restrain the enterprise’s financial performance; the effectiveness of internal control operation is significantly positively correlated with enterprise performance, which shows that the operation of effective internal control helps to promote the financial performance of enterprises. When we introduce management competence as a moderating variable, we find that competent managers can improve financial performance in an effective internal control environment.
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Ab Samad, Nur Hayati Binti, Noreena Md Yusoff, and Rina Fadhilah Ismail. "Effectiveness of Social Enterprise in Managing Intellectual Capital." International Journal of Financial Research 10, no. 3 (May 19, 2019): 280. http://dx.doi.org/10.5430/ijfr.v10n3p280.
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In order to successfully accomplish the social and business mission, social enterprises need to identify the appropriate elements of resources that affect their performance since the management of resources is important to ensure the effectiveness of social enterprise. Thus, this study aims to examine the role of intellectual capital, in terms of human capital, structural capital and relational capital on the effectiveness of social enterprise which is represented by the financial viability. Information on the financial viability and intellectual capital were obtained from the content analysis of the annual reports of 210 social enterprises registered under the Registry of Societies (ROS) in Malaysia for the financial period 2010. The results from the statistical analysis revealed that on average, most of the social enterprises in Malaysia would be able to financially sustain in the future. Based on the multivariate analysis, the results highlighted that human capital has a significant positive influence on the financial viability of social enterprise while structural capital and relational capital do not have significant positive relationship with the financial viability of social enterprise. Overall, the findings concluded that human capital was the most influential factor in enabling the effectiveness of social enterprise.
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Zhang, Qianying, and Fang Zhou. "Research on Enterprise Financial Management and Prediction System Based on SaaS Model." Security and Communication Networks 2022 (April 13, 2022): 1–9. http://dx.doi.org/10.1155/2022/3218903.
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In order to supervise and forewarn the sustainable operation ability of enterprises efficiently and accurately, this paper proposes an enterprise financial management and forecasting system based on SaaS model. First of all, in order to continue to effectively predict and analyze the enterprise finance, first analyze and extract the report data in the financial system. Then, by building a deep belief network model to predict the enterprise financial data, in order to reduce the cost of enterprises, the financial system designed in this paper chooses the cloud technology service framework based on SaaS model. Finally, in order to analyze the risk identification performance of the financial management and prediction system in this paper, the risk sample data of an enterprise’s financial system is selected for simulation test. The results show that the correct rate of risk identification of the financial management system designed in this paper is higher than other comparison systems, which speeds up the speed of risk identification of the financial information management system, and has certain practical application value.
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Cheng, Ching Hsue, Sue Fen Huang, and Chen Tung Chen. "A Study on Enterprise Performance Prediction Model by Reducing Financial Ratio." Advanced Materials Research 211-212 (February 2011): 1221–25. http://dx.doi.org/10.4028/www.scientific.net/amr.211-212.1221.
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Financial ratio is an important indicator to represent the operation performance of an enterprise. Operating performance is defined as some important financial ratios which can indicate enterprise financial with positive operation and growth. The strength and weakness of financial health can not only show the results of operation performance of the organization, but also indicate its growth and potential in the future. However, how to select a set of representative financial ratios is an important issue for evaluating the operating performance of an enterprise. Traditionally, more related researchers have long used statistical methods for handling these problems. However, these conventional methods become more complex when relationships in the input/output dataset are nonlinear. Nevertheless, statistical techniques always rely on the restrictive assumptions on linear separability for the predictive variables, multivariate normality, and many of the models of financial performance violate these assumptions. Therefore, to overcome these existing shortcomings, the proposal proposed attribute selection method to extract financial ratio attributes and OWA based multiple attribute decision making (MADM) to analyze enterprise operating performance situation for stakeholders (i.e., management, investors, employees, shareholders and other interested parties). The financial ratios are collected from the open source information retrieval systems of dataset for publicly traded enterprises in Taiwan stock market from 2008. The proposed model use singular value decomposition (SVD) + ordered weight averaging (OWA) for evaluating enterprise operating performance. At last, the results indicate that the proposed selection attribute can explain enterprise financial situation, and proposed model can objectively evaluate the performance of enterprise.
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KRIVKA, Algirdas, and Eglė STONKUTĖ. "COMPLEX ANALYSIS OF FINANCIAL STATE AND PERFORMANCE OF CONSTRUCTION ENTERPRISES." Business, Management and Education 13, no. 2 (December 10, 2015): 220–33. http://dx.doi.org/10.3846/bme.2015.300.
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The paper analyses the financial state and performance of large constructions enterprises by applying financial indicators. As there is no one single decisive financial indicator enabling to objectively assess enterprise performance, the multi-criteria decision making (MCDM) methods are applied with four groups of financial ratios (profitability, liquidity, solvency and asset turnover) acting as evaluation criteria, while the alternatives assessed are two enterprises compared throughout the reference period of three years, also with the average indicator values of the whole construction sector. The weights of the criteria have been estimated by involving competent experts with chi-square test employed to check the degree of agreement of expert estimates. The research methodology contributes to the issue of complex evaluation of enterprise financial state and performance, while the result of the multi-criteria assessment – the ranking of enterprises and sector average with respect to financial state and performance – could be considered worth attention from business owners, potential investors, customers or other possible stakeholders.
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Yang, Yu’e. "Research on Formation Mechanism of Financial Organization Mode in E-Commerce Enterprises." Journal of Computational and Theoretical Nanoscience 14, no. 1 (January 1, 2017): 182–88. http://dx.doi.org/10.1166/jctn.2017.6146.
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This paper integrates e-commerce situation, enterprise financial mode, enterprise performance and other elements into the same overall framework, analyzes the inner connection among different elements and then improves related enterprise financial management theory. Related research results both at home and abroad have been learned, financial processing procedure as well as the influencing factors of financial management mode in e-commerce enterprises have been studied deeply. In addition, financial management mode suitable for e-commerce enterprises and meeting the characteristics of e-commerce enterprises has been constructed. Research procedure has been formed by taking big e-commerce enterprises as research objects, starting from influencing factors and exploring the qualitative and quantitative relationship among several elements deeply.
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Luo, Yuanyuan, and Da Ren. "Influence of the enterprise’s intelligent performance evaluation model using neural network and genetic algorithm on the performance compensation of the merger and acquisition parties in the commitment period." PLOS ONE 16, no. 3 (March 19, 2021): e0248727. http://dx.doi.org/10.1371/journal.pone.0248727.
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The purpose is to study the performance compensation of the bid purchased during the mergers and acquisitions (M&A) process. An intelligent model of enterprise performance appraisal is built to analyze the performances of the acquired enterprises. First, the evaluation indicators of enterprise performance are selected from both financial and non-financial aspects. An enterprise performance appraisal model is established based on the neural networks and optimized by the factor analysis method and Genetic Algorithm (GA). The principal factors affecting enterprise performance are analyzed. Then the M&A parties’ performances during the M&A commitment period under the earnings compensation mechanism are analyzed quantitatively. Corresponding hypotheses and evaluation indicators are established. Mean test results and regression analyses demonstrate that the hypotheses proposed are valid under particular circumstances. Introducing the earnings compensation mechanism during the M&A process can improve the enterprise performance effectively so that the earnings forecasted in the commitment period are significantly higher than the historical profitability. Hence, the earnings compensation mechanism plays a positive role in guiding enterprise performance. Comparison with models proposed in previous research reveals that the output error ratio of the designed corporate performance evaluation model is 1.16%, which can effectively evaluate corporate performance. The above results provide a reference for studying the impact of the earnings compensation mechanism on enterprise performance during the M&A process.
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Kulish, Н. Р., and V. V. Chepka. "Financial Potential of an Enterprise and its Significance in the Economically Unstable Environment." Statistics of Ukraine, no. 1(76) (September 20, 2017): 29–35. http://dx.doi.org/10.31767/su.1(76).2017.01.04.
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Practical aspects of the study of financial potential, its relationship with economic potential of an enterprise, the impact of financial potential of the economic performance and strategic goals of an enterprise are highlighted. It is demonstrated that financial potential takes on the role of lever building the mechanism for transforming resource and production potentials into the financial results of an enterprise. In the current economic conditions characterized by the development of market economy, int ensification of globalization and competition, domestic enterprises need to operate more effectively and to focus their activities not only on meeting the current needs in form of profit, but also on planning future performance and building the financial potential. In this context, study of the essential features of financial potential of an enterprise and its relationship with production, innovation, investment, marketing and organizational management potentials has been of special importance.
The study shows that financial potential enables for transforming resource, production, innovation, investment, marketing, organizational and managerial potentials into financial performance results, and is used to achieve strategic and tactical goals of an enterprise. The essential features of financial potential are outlined:
financial potential is a broader concept than financial resources of an enterprise;
financial potential is a factor for financial capacity of an enterprise and their implementation in certain circumstances;
financial potential is a factor for financial stability and competitiveness of an enterprise;
financial potential is a factor for positive financial result;
the scopes of financial potential determine the development trend of an enterprise.
Diagnostics of financial potential involves regular financial analysis to determine financial security. Key data on the financial performance of an enterprise need to be used in evaluating the achieved goals and problem solutions in the current period and in the future, in taking balanced management decisions with due account for the provision of investment and reserve finances
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Yang, Junda, Yun Xia, Kefang Zhang, Liu Yang, and Zhongtao Zhang. "Financial Performance Evaluation of Grid Enterprises Based on IPA Model -- Taking XX Power Supply Bureau as an Example." Business Management and Strategy 9, no. 2 (December 11, 2018): 86. http://dx.doi.org/10.5296/bms.v9i2.14035.
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Using the data collected from the internal employee questionnaire, this paper adopts IPA method to analyze the financial performance and operation status of XX power supply bureau with some financial data as indicators. In addition, this paper evaluates the financial operation performance of the electric power enterprise, and puts forward relevant suggestions for the asset problems of the enterprise, hoping to help the managers to accurately grasp the operating status of enterprises, optimize the allocation of resources, and improve the management efficiency, so as to provide a useful reference for power grid enterprises to establish financial delicacy management system.
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Yang, Ruili, Kui Xia, and Hongxing Wen. "Venture Capital, Financial Leverage and Enterprise Performance." Procedia Computer Science 91 (2016): 114–21. http://dx.doi.org/10.1016/j.procs.2016.07.048.
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Li, Chun Xian, Hua Xu, and Jing Jing Zhang. "The Influence of ERP to Enterprise Financial Management Analysis." Applied Mechanics and Materials 687-691 (November 2014): 4474–77. http://dx.doi.org/10.4028/www.scientific.net/amm.687-691.4474.
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Working capital management is an important part of enterprise management system, to the enterprise performance and efficiency of access to produce very big effect. ERP system as an advanced management system have been applied in many enterprises in our country. Many enterprises have been got after the implementation of ERP enterprise financial index significantly improve, but there are a large part of the enterprise after the implementation of ERP financial indicators have not been improved. Too much even for ERP investment brings to the enterprise financing difficulties. How to improve the efficiency of the implementation of the ERP, which in the management of working capital factors will affect the success of the ERP implementation. The implementation of ERP will bring what kind of impact, especially the influence on the management of working capital is worth thinking about.
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Наmкаlо, О. В. "Non-Financial Reporting as a Tool for Measuring the Social Activity of Domestic Enterprises." Statistics of Ukraine, no. 4(79) (December 20, 2017): 79–86. http://dx.doi.org/10.31767/su.4(79).2017.04.10.
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The research is devoted to the peculiarities of the formation of non-financial reporting as one of the tools for measuring the social activity of enterprises.
The financial stability and successful business of enterprises is conditional on non-financial indicators and business orientation, ranks, reputation, openness and social responsibility. Non-financial reporting or a CSR report is an effective tool for measuring the performance of enterprises, a basis for the development and implementation of various strategic projects and programs. Information from non-financial reporting allows for assessing the effectiveness of management at an enterprise by economic, environmental and social component, their interdependence and contribution in achieving the main goal, and for subsequent goal setting and more effectively management of change. It means that the report in question serves as the main platform for communicating the results and impacts (positive or negative) of sustainable development. It shows the real effort of an enterprise in creating social, environmental and economic benefits.
However, domestic enterprises do not have sufficient experience in the field of socially responsible business and need to create their own internal concept of corporate social responsibility considering international trends, which determines the relevance of this study
Various international non-financial reporting standards are analyzed; it is demonstrated that the most popular mechanism for regulating non-financial reporting is the Global Reporting Initiative (GRI), which defines a set of indicators measuring the social, ecological and economic component of the economic activity of enterprises The mechanism for making up a non-financial report by phase of the enterprise development is built. The use of the proposed mechanism in making up non-financial reporting will enable to set up an effective link between the enterprise and the stakeholders, and to determine the strategic directions of the enterprise's activities in the context of its development.
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Okwu, Andy Titus. "Business environment and the financial performance of small and medium enterprises: A study of Lagos state, Nigeria." Corporate Ownership and Control 12, no. 4 (2015): 493–505. http://dx.doi.org/10.22495/cocv12i4c4p7.
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The financial outcome of an enterprise is perceived to have some relationships with its operational environment. This study analysed the business environment as a correlate of financial performance of small and medium enterprises (SMEs), as to contribute to environment-enterprise policy mechanisms and regulatory framework, industry and management practices. Relevant definitional criteria and World Bank’s model were adopted to sample 228 SMEs from 456 via judgmental and convenience techniques. Multifactor business-environment questionnaire (MBEQ) was used to elicit responses from SMEs in a field survey. Enterprise type, activity, product line and financial performance were examined. Results showed dominance of sole proprietorship and services SMEs, multi-product lines, and highly positively correlated financial performance and business environment. Consequently, improved SME-friendly business environment was recommended.
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Podhorska, Ivana, and Anna Siekelova. "Enterprises Financial Performance in a Globalized World." SHS Web of Conferences 74 (2020): 05018. http://dx.doi.org/10.1051/shsconf/20207405018.
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World globalization has a significant impact on the financial performance and financial health of enterprises. The aim of the paper is to analyse and compare the financial performance of selected enterprises under the conditions of globalization. Paper will work with six selected enterprises from the IT sector, which represents one of the fastest growing sectors in the globalized world. Each of them will be from the Slovak Republic. As input data will be used their financial statements during years 2015-2018. These data will be obtained from the Amadeus database - a database of comparable financial information for public and private companies across Europe. The methods of financial-economic analysis will be used to analyse these data. Especially, the paper will be work with selected financial ratios from analysing of liquidity, profitability, indebtedness, and activity. The theoretical part of the paper will contain a literature review and historical development of financial performance assessment and theoretical aspects of enterprise financial performance. The practical part will contain the application of selected methods of financial-economic analysis in the database of enterprises. Paper findings brings evaluation of financial performance of enterprises in IT sector under the conditions of globalized world.
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Bacho, Allan P., and Olga I. Murova. "Financial Performance Analysis of Corn-based Ethanol Enterprises in the U.S." Business and Economic Research 7, no. 1 (May 8, 2017): 242. http://dx.doi.org/10.5296/ber.v7i1.10982.
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The objective of this study is to examine the state of financial conditions of the corn-based ethanol enterprises in the U.S. from 2009 to 2014. Ethanol enterprises are categorized as small, those producing up to 50 million gallons per year (MGY) and large producing between 50 and 100 MGY. Panel data from the annual financial reports submitted to the Securities and Exchange Commission (SEC) are used to calculate the financial ratios of profitability, asset turnover, leverage, liquidity and operating margin. Results show that the corn-ethanol enterprise is moving into the direction of positive returns of investment. Associated factors for the profitability are found to be operating margin ratio, liquidity, leverage ratio, and subsidy. Findings of this study have an implication to the development of the cellulosic ethanol enterprise, which suggests the utilization and valuation of its co-products for revenue generation to improve economic financial success.
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Ni, Dan. "Study on the Financial Performance of Yunnan Baiyao in the Context of Mixed Ownership Reform." Financial Forum 10, no. 2 (August 27, 2021): 1. http://dx.doi.org/10.18282/ff.v10i2.2107.
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Since the 18th Party Congress, the reform of state-owned enterprises has entered a pilot phase and accelerated. To improve corporate performance, a large number of outstanding enterprises have carried out mixed ownership reform. As a major restructured enterprise in Yunnan Province, Yunnan Baiyao's performance capability has been declining year by year under the influence of medical industry consolidation, but its brand value is high, so Yunnan's state-owned assets department has carried out mixed ownership reform of Yunnan Baiyao in order to be able to improve the financial performance of the enterprise. Using Yunnan Baiyao as a case study, this paper describes the process and motivation of the mixed ownership reform of Yunnan Baiyao, and analyzes the financial performance of Yunnan Baiyao before and after the mixed ownership reform in four dimensions, including profitability, solvency, development, and operational capacity, and the results show that the financial performance of the enterprise has been enhanced after the mixed ownership.
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Cuong Pham, Duc, and Thi Xuan Hong Nguyen. "The influence of privatization on financial performance of Vietnamese privatized state-owned enterprises." Investment Management and Financial Innovations 16, no. 3 (October 9, 2019): 341–52. http://dx.doi.org/10.21511/imfi.16(3).2019.30.
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This research evaluates the differences in financial performance of enterprises before and after privatization aiming to find out the influence of privatization on the enterprises’ performance. The study is based on the audited financial statements of 105 Vietnamese privatized enterprises privatized in the period from 2005 to 2016. Applying the Wilcoxon signed-rank test, the obtained results prove that after privatization profitability and outputs of investigated firms are significantly higher than prior privatization. However, there is no significant change of leverage. Applying a regression model to evaluate the factors affecting financial performance of firms in the research model, it was found out that the proportion of state ownership, economic growth, operating period, enterprise`s size, and business risk have positive influence on the financial performance of research firms. However, the leverage of these firms has a negative impact on the financial performance. In accordance with the obtained results, this study suggests that the privatization process should be continued regardless of firm size or business type. The government should create fair competition environment, remove incentives and supports for State-Owned Enterprises (SOEs), manage changes in privatized firms, and enforce the legal system.
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Yang, Junda, Yun Xia, Kefang Zhang, Liu Yang, and Zhongtao Zhang. "Financial Performance Evaluation Based on IPA——Taking XX Power Supply Bureau as an Example." International Journal of Economics and Finance 10, no. 12 (November 8, 2018): 67. http://dx.doi.org/10.5539/ijef.v10n12p67.
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Using the data collected by the internal employee questionnaire, this paper innovatively uses the IPA (Importance-Performance Analysis) model to construct a financial performance evaluation system for general power companies. In addition, based on some financial data of XX power supply bureau, this paper specifically analyzes its financial performance and operating status, and provide relevant rectification recommendations for its cost, income, assets and liabilities. It is expected to help power enterprise managers to accurately grasp the operation status of the enterprise, optimize the allocation of resources, and improve the management efficiency, so as to provide a useful reference for power enterprises to establish financial delicacy management system.
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Shkolnyk, Inna, Tomasz Pisula, Liliia Loboda, and Natalia Nebaba. "Financial crisis of real sector enterprises: an integral assessment." Investment Management and Financial Innovations 16, no. 4 (December 26, 2019): 366–81. http://dx.doi.org/10.21511/imfi.16(4).2019.31.
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Successful crisis resolution of the enterprise depends heavily on its timely detection, which is facilitated by the use of forecasting models. This allows understanding the scale of the problems in a timely manner and developing the appropriate measures, applying various financial mechanisms to prevent it, and in case of occurrence, reducing the amount of losses. In this context, it is important to choose the most optimal informational model that would provide the most objective forecasts, considering the financial activity peculiarities of the analyzed enterprise. Given a wide list of models that predict the financial crisis, there is a need to analyze and select the most accurate model for enterprises in the real economy. Ten Ukrainian machine builders are used to assess the bankruptcy probability using the most popular models; a taxonomic analysis was carried out, which allows systematizing a large amount of data and analyzing their impact on enterprise development. An integral index was determined, which allowed predicting the financial performance dynamics. For each enterprise, ten indicators were used characterizing their financial state for the period 2014–2018. It is substantiated that the selected models differ from each other by the set of initial data and the number of coefficients from four to seven. It is also determined that the efficient use of studied models is quite different; so when choosing a model to predict the bankruptcy probability, it is necessary to consider the peculiarities of the enterprise’s production activity, the accuracy in creating the financial statements and many other factors, including the presence of company’s shares in circulation at the stock market. It is worthwhile to use a taxonomic analysis to make a comprehensive comparison of the enterprise financial state and to substantiate the final choice of the bankruptcy forecasting model.
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Ivanus, Alexander, Victor Nevezhin, Elena Piskun, and Vladimir Khokhlov. "Formation of Performance Indicators of System-forming Regional Enterprises under Uncertainty." E3S Web of Conferences 295 (2021): 01018. http://dx.doi.org/10.1051/e3sconf/202129501018.
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A modern enterprise must be ready for any changes that may arise under the influence of both internal and external influences, including uncertain ones. It must be able to get out of this unfavorable situation as quickly as possible. The proposed study is to confirm the hypothesis of the relationship between the level of uncertainty and the performance of an enterprise based on the use of the preventive preparedness regime. The work solves the following tasks: assessment of the level of uncertainty of the external environment, selected as an indicator of entropy; a methodology for choosing the financial and economic indicators of an enterprise for the formation of a preventive readiness mode is proposed; the existence of a relationship between the level of uncertainty and indicators of the preventive readiness regime has been empirically confirmed. The authors propose a variant of the enterprise’s transition to a state of so-called “maximum readiness”, in which it will feel “comfortable”. The concept of enterprise management in a situation of external uncertainty is presented. In accordance with this approach, the results of the analysis of financial, economic and social indicators of economically significant automobile enterprises located in various regions of Russia, included in the list of backbone and influencing the development of the region, have been investigated. The selected indicators were considered from the point of view of the possibility of applying to them the state of the maximum readiness mode in conditions of uncertainty, which provides an adaptive state of the enterprise and, accordingly, will allow maintaining and even increasing its position in the market in the presence of uncertainties. The proposed concept can be recommended to all firms and enterprises with an innovative focus since they are more susceptible to the adverse effects of uncertainties.
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Li, Jian Jun. "The Empirical Analysis of Small and Medium Sized Pharmaceutical Enterprises Operating Performance and Debt Source Structure." Applied Mechanics and Materials 496-500 (January 2014): 2872–75. http://dx.doi.org/10.4028/www.scientific.net/amm.496-500.2872.
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in this paper, take 30 enterprises from Shenzhen SME board and the GEM pharmaceutical industry as samples, using empirical methods to study the relationship between the pharmaceutical industry and business performance and debt source structure. The results showed that small and medium-sized pharmaceutical enterprises have a negative impact on business performance, and operating liabilities have a positive impact on business performance; compared with the small service enterprises, performance of small and medium-sized pharmaceutical enterprise is poor, because its operating liabilities rate is relatively low, and the financial leverage is higher. Therefore, when small and medium-sized pharmaceutical enterprise debt financing, financing should be appropriate for financial liabilities, and should strengthen the management of debt financing.
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Guan, Min Li. "The Research on Implementation Effect Evaluation ERP Financial Management of Electric Power Enterprise." Advanced Materials Research 490-495 (March 2012): 746–50. http://dx.doi.org/10.4028/www.scientific.net/amr.490-495.746.
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After the implement of ERP system in electric power enterprise, the enterprise's management had a great change. Financial management work, as an important part of enterprise management, the improving of the performance of it will have an important impact on the management of the whole enterprise competitiveness. This paper mainly analyzes the implementation effect of electric power enterprise ERP financial management. By constructing evaluation index system, using the AHP method to analyze it, and then have a conclusion that the quantitative evaluation results, what will have a strong boost role to the electric power enterprise ERP financial management work.
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Verevka, Tatyana. "Key performance indicators of high-tech enterprises." SHS Web of Conferences 44 (2018): 00077. http://dx.doi.org/10.1051/shsconf/20184400077.
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In the conditions of the transition to innovative development and digital economy, the unconditional priority is shifted to restoration and transformation of high-tech enterprises. The stability of their strategic developing greatly depends on the efficiency of their business activity and the system of the enterprise strategic management. This article defines the basic performance indicators of high-tech enterprises, the particular features of the system to evaluate the efficiency of strategic management of a high-tech enterprise: innovative, scientific-technological and intellectual potential. On the basis of the analysis of the methods widely used all over the world, we developed a system key performance indicators to evaluate the efficiency of high-tech enterprises, with consideration of particular features of operation and development of high-tech enterprises, to enable evaluating the efficiency of their business activities and management through analyzing the inter-related financial and non-financial performance indicators. The practical implementation of this system will make it possible for high-tech enterprises to form a data base for making strategic solutions to ensure competitive advantage of these enterprises and, as a consequence, facilitate their steady development.
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Turek, Marian, and Aneta Michalak. "New Performance Funding Models as a Way of Funding." Equilibrium 6, no. 2 (June 30, 2011): 77–90. http://dx.doi.org/10.12775/equil2011.013.
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Mining industry in Poland faces many financial problems. One of them is to determine the proper performance funding structure. The main objective of this article is to create new models of funding performance in mining enterprises and to propose the way of examining influence of separate models on effectiveness of finance management in mining enterprises. As the measure of effectiveness growth regarding finance management the Authors adopted the value growth of mining enterprise. In the following stages of research there were assumptions and procedure presented for building funding models of mining enterprises as well as the basic funding models were suggested and the method of examining models’ influence on the value of a mining enterprise was described. In order to solve the research problem there were several general methods used: financial data analysis, comparison and generalization and also detailed methods such as: observation, documents analysis method, statistic methods
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Zhu, Xiu Fang. "A Mathematical Model of Foreign Trade Enterprise Consolidated Financial Statement." Applied Mechanics and Materials 380-384 (August 2013): 4804–8. http://dx.doi.org/10.4028/www.scientific.net/amm.380-384.4804.
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Consolidated financial statements can reflect the comprehensive financial position and operating results of foreign trade enterprise group, reasonably determines the merger range of consolidated financial statements which is the key foundation work of preparing consolidated statements. In view of the problem that there is no specific provision of substantial control concrete measurement method of current new accounting standards, the paper takes nine enterprises of Shanghai with unclear merge reasons as sample enterprises. With their financial report from 2009 to 2011 as data sources, panel data model is applied to analyze the influence of merge scope change on sample enterprise book performance. The results show that the consolidated range changes may improve enterprise book report data, and the average value of book achievement influence is about 5.43%.
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Liu, Xiaoyang, and Jiaqi Zhang. "Research on Financial Performance Evaluation of Logistics Enterprises based on Factor Analysis." BCP Business & Management 18 (April 13, 2022): 6–13. http://dx.doi.org/10.54691/bcpbm.v18i.528.
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Financial performance uses objective data reflect the enterprises' existing operation capacity and predictable future development expectations, and it is an important sign whether enterprise strategy can contribute to financial performance. Based on this, this paper adopts the factor analysis model, takes 21 domestic listed logistics enterprises as the research objects, and focuses on the analysis and evaluation from four aspects: profitability, solvency, operation ability and growth ability, and carries out comparative study on various indexes of state-owned logistics enterprises and private logistics enterprises. The results show that the comprehensive financial performance of state-owned logistics enterprises is higher than that of private logistics enterprises overall, it reflects the overall situation when state-owned logistics enterprises have better financial benefits under the current domestic economic environment.
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Cherotich, Josephine, Oscar Ingasia Ayuya, and Kenneth W. Sibiko. "Effect of financial knowledge on performance of women farm enterprises in Kenya." Journal of Agribusiness in Developing and Emerging Economies 9, no. 3 (June 25, 2019): 294–311. http://dx.doi.org/10.1108/jadee-06-2018-0083.
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PurposeFinancial knowledge (FK) is considered one of the major factors influencing performance of farm enterprises. The purpose of this paper is to examine the effect of FK on performance of women farm enterprises. Performance is measured using levels of savings and enterprise margins.Design/methodology/approachThe study uses primary data of 384 farmers from three sub-counties in Kericho County, Kenya. It employs a propensity score matching (PSM) approach to control for possible selection bias and to model the impact of FK on performance of women farm enterprises.FindingsThe analysis reveals that high FK has a significant positive impact on performance of women farm enterprises. Specifically, respondents with higher levels of FK were also associated with higher amounts of savings and enterprise margins.Research limitations/implicationsEconometrically, robust strategies were employed using PSM to ensure minimal estimation bias. Although PSM captures selection bias due to observable characteristics, it fails to capture selection bias due to unobservable factors.Originality/valueThe paper contributes to the growing debate on the role played by FK on performance of small and micro enterprises. It provides insights on the state of FK among women farmers and identifies knowledge gaps and policy implications from a developing country perspective.
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Herasymovych, Anatolii, and Inna Herasymovych. "Flexible accounting methods as a tool for mobilizing the enterprise’s under-utilized potential." Herald of Ternopil National Economic University, no. 2(92) (March 3, 2019): 145–54. http://dx.doi.org/10.35774/visnyk2019.02.145.
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Introduction. Since traditional accounting is based on the facts of financial and economic performance of enterprises, it does not always and fully display their real capacity, which is crucial to meet the challenge of the dynamic market environment. Methods used in flexible accounting are recognized throughout the world, as they provide a better picture of the internal capacity of the enterprise, and it is displayed in totally new balance sheet accounts and financial records. The study addresses the issue of applying flexible accounting methods and approaches for keeping records of assets (means) and liabilities (resources) in Ukrainian enterprises’ activities. Purpose. The purpose of the article is to highlight the methodological framework of using flexible accounting methods as a tool for mobilizing the enterprise’s under-utilized potential. Methods. The research methods used in the article include: the historical method (for describing the evolution of accounting studies); the method of abstraction (for harmonizing the terminology of accounting engineering); synthesis, induction and deduction (for providing rationale for applying flexible accounting methods); generalization (for making conclusions). Results. The study shows that flexible accounting methods can be used as a tool for mobilizing the enterprise’s under-utilized potential in the following segments: fixed assets – based on the optimal method of inventory accounting; inventory items – through the best values at the moment of goods release; bad debtors – through diversification when receivables are paid; creditors – through diversification when accounts payable are settled; of cash – a real prediction of their revenues in order to calculate the financial results of the enterprise; cash assets – through prediction of cash inflows and calculation of financial performance of the enterprise. Discussion. The rapid pace of the current scientific and technological breakthrough, the further globalization of the economy, and increased competition have led to the need for more effective management of business processes and financial performance, and to the search for material, human and financial resources. That has promoted accounting engineering viewed as one of the tools of flexible accounting. Further research efforts should be directed at approaches and techniques of information support for enterprise resource management.
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Syzganov, Maksim. "DIFFERENCE OF ANALYTICAL AND ASSESSMENT INDICATORS IN ANTI-CRISIS MANAGEMENT OF MACHINE-BUILDING ENTERPRISES." Russian Journal of Management 8, no. 1 (May 22, 2020): 121–25. http://dx.doi.org/10.29039/2409-6024-2020-8-1-121-125.
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The article makes a distinction between analytical and estimated indicators, reveals the possibility of transforming analytical indicators into estimated (target) under certain situational conditions.
Evaluation indicators are considered in the projections of express evaluation, prolonged evaluation and leading evaluation as components of four evaluation blocks - prospects: “Economic efficiency and effectiveness of the enterprise’s operations (production and commercial)”, “Financial condition of the enterprise”, “Enterprise competitiveness”, “Development enterprises ”.
The features of the influence of industry specifics and the strategic situation on the choice of performance indicators at engineering enterprises are disclosed.
The narrowness of considering crisis management measures only as protective measures is shown.
The inflexibility and inconsistency in the development and use of the system of performance indicators at engineering enterprises of the Ivanovo region are illustrated.
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Deng, Bofu, Jia Wei Liu, and Li Ji. "Awards and executives’ financial performance preference." Nankai Business Review International 11, no. 3 (January 27, 2020): 409–39. http://dx.doi.org/10.1108/nbri-11-2019-0054.
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Purpose The purpose of this paper discusses the fundamental nature of the corporate awards disclosed in the annual reports of Chinese A-share listed companies. The authors hypothesise and investigate the role of awards playing as non-financial performance, which is a Chinese characteristic, and therefore, can substitute for financial performance from the perspective of an executive’s preference of financial performance. Design/methodology/approach This study focusses on the corporate awards disclosed in company annual reports. It regards award-winning at the enterprise level as a kind of non-financial performance of Chinese enterprises, which represents achievements in the status competition and establishes good conditions for enterprises. The authors design empirical models and use data of A-share listed company to investigate the research questions and check the robustness of conclusions by eliminating endogenous problems and sample selection problems. Findings The empirical evidence reveals that corporate awards reduce management financial performance preference. This is reflected not only in reduced current period positive accruals earnings management, which can directly improve current period financial performance but also in reduced current period negative earnings management, which can indirectly improve future financial performance. The authors also find that there is an industry spillover effect of corporate awards, which is that awards increase the financial performance preference of other company executives within the industry. Research limitations/implications As a form of non-financial performance, corporate awards provide more reference information for investors. Currently, academic attention to this issue in China is still lacking. What is the essence of corporate awards, what economic consequences are there for listed companies and what effect is there on China’s capital market development? These questions are worthy of further study. Originality/value First, the literature on corporate awards has focussed on the effect of awards on individual behaviour, mainly considering awards as non-monetary rewards and exploring their economic consequences. Therefore, the hypothesis that awards are “Chinese-style performance” is an extension of the literature and theory related to the economic consequences of awards from the individual to the enterprise level, which is an important addition to the literature on corporate awards and their economic consequences. Second, the authors propose and prove that awards are an important demonstration of a company’s competitive performance. This study provides a better understanding of how Chinese companies display their performance and the behavioural logic behind the performance demands of company management.
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Yu, Jiangbo. "Big Data Analytics and Discrete Choice Model for Enterprise Credit Risk Early Warning Algorithm." Security and Communication Networks 2022 (January 5, 2022): 1–13. http://dx.doi.org/10.1155/2022/3272603.
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A business credit risk early warning algorithm based on big data analysis and discrete selection model is presented to address the issues of poor sample fitting performance, long warning time, and low warning accuracy that plague the traditional enterprise credit risk early warning algorithm. A-share listed enterprises in China were chosen as the credit data source for screening the samples based on big data analysis. After screening, financial failure firms were coupled, and paired samples were created. The credit risk variables, which included financial and corporate governance characteristics, were chosen based on the created samples. The enterprise financial risk submodel and the nonfinancial risk submodel were built based on the enterprise credit risk variables, and the financial and nonfinancial index scores of enterprise customers were evaluated separately to develop a discrete choice model of enterprise credit risk. The algorithm’s sample fitting performance was employed to achieve early warning of corporate credit risk. The algorithm based on big data analytics and discrete choice model is compared to the traditional method in order to verify its validity. The findings of the experiment reveal that the algorithm’s sample fitting performance is superior to the traditional one, making it more suitable for enterprise credit risk early warning. The proposed model depicts 85% accuracy.
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Shu, Qianfei, and Go Yano. "High and New Technology Enterprise Performance and Financial Constraints: Is Clustering Efficient?" Applied Economics and Finance 4, no. 6 (October 30, 2017): 64. http://dx.doi.org/10.11114/aef.v4i6.2678.
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Using firm level panel data for non-listed high and new technology enterprises in the Yangtze River Delta of China from 2002–2009, we investigated the importance of the high and new technology industrial development zone (HNTIDZ) established by the Chinese government for improving enterprise performance. We found that high and new technology enterprises located in HNTIDZs enjoy superior productivity, growth potential, export and innovation activity; better access to trade credit and bank loan facilities plays a significant role in promoting productivity, growth and export, but it does not affect innovation activity; in national HNTIDZs, enterprises that are more in need of trade credit and bank loan have better performance in the respect of productivity, growth, export as well as innovation activity.
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et al., Purwanto. "Improving medium small micro enterprise’ (MSME) performance." International Journal of ADVANCED AND APPLIED SCIENCES 9, no. 5 (May 2022): 37–46. http://dx.doi.org/10.21833/ijaas.2022.05.005.
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The contribution of Indonesia's medium, small and micro to Gross Domestic Product in 2018 at 60.34%. There are MSME's weaknesses (1) business capital (2) entrepreneurship (3) product innovation (4) distributing products (5) marketing (6) mentor/coach (7) transaction recording via online (8) no branding (9) customer loyalty (10) business permit. The variables X are leadership, innovation, and financial recording. The dependent variable is Y business performance. The correlation of leadership to finance has an effect, the correlation between financial and business performance has significant, and the correlation between innovation and business performance shows weak. The conclusion for operational management is fit as well as leadership, innovation, and financial recording improve business performance, however, innovation is not given effect on business performance.
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Wang, Yin Qiu, and Xun Xu. "An Improved Data Mining Method Applied to Enterprise’s Financial." Advanced Materials Research 143-144 (October 2010): 477–81. http://dx.doi.org/10.4028/www.scientific.net/amr.143-144.477.
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Data mining is the process of analyzing data from different perspectives and summarizing it into useful information. The financial management of enterprise management is an important component of the work is the core of enterprise management, improve business management and enhance the economic efficiency of enterprises is very important role. This paper proposes an improved data mining method to enhance the capability of exploring valuable information from financial statements. Experimental results indicate that this proposed method significantly improves the performance.
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Xu, Xiaoling, and Jianghao Song. "Engineering Financial Performance Evaluation of Wireless Network Based on Intelligent Neural Network Model." Wireless Communications and Mobile Computing 2021 (December 10, 2021): 1–13. http://dx.doi.org/10.1155/2021/4297439.
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Under the global economy, enterprises in the financial industry are facing plenty of opportunities and severe challenges. Aimed at providing a reference enterprise performance evaluation system for related enterprises, the proposed model helps enterprises to learn and sort out their own performance evaluation system according to this structure. A prediction model of BP neural network (BPNN) based on the wireless network is studied as the performance data prediction algorithm. Firstly, the feasibility of this algorithm is analysed through prediction training. Secondly, the proposed neural network algorithm is compared with the traditional algorithm for data prediction. It turns out that this neural network prediction algorithm based on wireless communication is not only universal to the prediction data but also superior to the traditional prediction algorithm in both error gap and relative average error compared with other traditional algorithms. On this basis, the particle swarm optimization (PSO) algorithm is also used to evaluate the performance indicators of three enterprises, and accurate numerical values are obtained to express the corresponding results. Therefore, it is concluded that the subalgorithm can be applied to the enterprise performance evaluation team in the financial industry.
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Xin, Quan. "EVA Application in the Performance Evaluation of State-owned Enterprises in China—Take Gree Group as an Example." Journal of Economics and Public Finance 6, no. 3 (June 16, 2020): p21. http://dx.doi.org/10.22158/jepf.v6n3p21.
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China’s capital economy developed relatively late. In 2010, The State-owned Assets Supervision and Administration Commission (SASAC) officially stipulated that state-owned enterprises (SOES) should adopt EVA evaluation index. First introduced the traditional financial index system and measure of EVA index, and then by state-owned joint-stock enterprise group as an example, through the study of the application of EVA index in Gree, comparing to traditional financial index, analysis of the advantages of EVA index in performance evaluation of state-owned enterprises in China, and on the basis of the application of EVA index in our country state-owned enterprise puts forward some Suggestions to improve and perfect.
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Nikolić, Nikola, Marin Slobodan, and Milan Šušić. "Performance appraisal and supervision of state-owned enterprises in Bosnia and Herzegovina." Journal of Process Management. New Technologies 8, no. 4 (2020): 77–95. http://dx.doi.org/10.5937/jouproman8-29087.
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Bosnia and Herzegovina has opted for a market economy, which implies the liberalization of prices and trade, as well as the existence of an applicable legal system, including real rights. In order for a market economy to function, it is necessary to ensure macroeconomic stability and consensus on economic policy. A developed financial sector and the absence of significant barriers to entry and exit strengthen the efficiency of the economy. By analyzing the database of financial statements of state-owned companies in Bosnia and Herzegovina, we conclude that they are mostly in poor financial condition. This paper analyzes the structure of the state-owned enterprise sector, and identifies individual enterprises that affect fiscal and macroeconomic performance. State-owned companies do not contribute enough to the growth and stability of the economy, the financial analysis showed. The framework for the management of state-owned enterprises has also been analyzed and we come to the conclusion that the entity and cantonal governments do not perform their ownership function in accordance with the WB / OECD guidelines. Quality governance reforms in state-owned enterprises are needed to encourage transparency and increase the quality of accountability. Achieving a higher level of quality in the state-owned enterprise sector can achieve an increase in total GDP of 3 percent annually.
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Ojubanire, Olugbenga Ayo, and Solomon Dawodu. "Risk management practices and financial performance nexus: Evidence from MSMEs in Osun State, Nigeria." Journal of Management Info 8, no. 1 (May 1, 2021): 44–55. http://dx.doi.org/10.31580/jmi.v8i1.1839.
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This study assessed the effect of enterprise risk management on the firm financial performance of Micro, Small and Medium-scale Enterprises in Osun state Nigeria. Precisely, the risk encountered, the adoption of risk management practices, the implementation of Enterprise Risk Management (ERM) practices, and the financial performance of micro, small and medium scale enterprises in Osun state Nigeria. Primary data was used for this study; a well-structured questionnaire was used to elicit data from 273 respondents. The study population consists of owners and managers of small and medium businesses in Osun state, Nigeria. Data were analyzed using descriptive analysis and was the inferential statistic used to test the hypotheses. The results showed that market (33.7%), strategic (57%), financial (46.9%), operational (34.2%), management (47.6%), and technological (45.4%) are risks prevalent to micro and small businesses, but most of the respondents disagreed that the relationship of their staff to the customer is poor. Risk acceptance with a mean score of (2.27 ± 1.21) is the most utilized risk management practice adopted by the MSMEs. The implementation of ERM practices shows that MSMEs more utilized setting of objectives (43.6%), risk identification (38.3%), risk assessment (36.2%), and control activities (31.2%) and the financial performance of the businesses was moderate (69.7%). The correlation analysis shows no significant relationship between the scale of business and the adoption of risk management practices. Also, the regression analysis shows that Risk identification (β = 0.388, p ≤0.01) and Control activities (β = 1.096, p ≤0.01) are the only ERM variables that significantly affect financial performance. The study concluded that the implementation of enterprise risk management practices has a significant effect on the financial performance of Micro, Small and Medium enterprises in Osun State, Nigeria.
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Kalyuzhnaya, E. S., V. Yu Rogozhkina, E. L. Dmitrieva, and E. V. Bykovskaya. "Financial Stability and Competitiveness as Indicators of Company Performance Efficacy." Voprosy sovremennoj nauki i praktiki. Universitet imeni V.I. Vernadskogo, no. 3(77) (2020): 066–72. http://dx.doi.org/10.17277/voprosy.2020.03.pp.066-072.
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It is shown that the economic assessment of the company performance efficacy is of great importance, both in order to make the right management decisions on emerging problems, and to maximize profits and ensure a stable financial position of the enterprise in the future, and the need to assess the financial condition of both your enterprise and existing potential competitors. Some indicators that characterize the efficacy of the enterprise are considered: financial stability and competitiveness as the most relevant indicators that can reflect the real picture in the activities of any enterprise.
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Golovanov, P. V., and A. N. Kulikova. "ANTI-CRISIS MANAGEMENT OF FINANCIAL AND ECONOMIC STABILITY OF THE INDUSTRIAL ENTERPRISES." Strategic decisions and risk management, no. 4 (October 25, 2014): 60–65. http://dx.doi.org/10.17747/2078-8886-2013-4-60-65.
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This article describes economic relations, associated with the management of an industrial enterprise using a budgeting system integrated with a quality management system. The Article covers the problems of defining key performance indicators and performance criteria in the budgeting system processes of industrial enterprises.
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Bohutska, Liliia. "Implementing principles of transparency in business entities." Herald of Ternopil National Economic University, no. 4 (86) (December 12, 2017): 149–58. http://dx.doi.org/10.35774/visnyk2017.04.149.
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The article considers the concept of transparency, specifically transparency of financial reporting and prerequisites of transparency development. The paper also outlines areas of researching transparency within the framework of comprehensive approach. The major attributes of transparency through which the latter is implemented are as follows: qualitative characteristics of an enterprise; integrated indicators of openness of enterprise information; qualitative characteristics of information presented in financial statements and principles of providing financial statements. It is proved that transparency improves the quality of forecasts on enterprise performance, increases investment appeal and potentially acts as intangible assets that enhance the market value of an enterprise. The concept of assessment of domestic enterprises’ openness is viewed and a list of measures for enhancing enterprise transparency is proposed. The methods that are used for calculating transparency indicators of the biggest Ukrainian enterprises and published in the bulletin of the Development of Corporate Social Responsibility Centre are studied, and the given data is analysed. The three-tier system of transparency implementation is considered in terms of the regulatory and legislative framework (IFRS, International Audit Standards, International Assessment Standards, Information Disclosure Rules); business entities, where transparency is developed through reporting; analytical level of experts, agencies and organizations that assess entity transparency. The background of forming the demand for transparent financial statements is highlighted. The main characteristics of transparent statements, namely, rationality, accessibility, representativeness, reliability, efficiency, relevance, transparency, and quality are outlined. In addition, the article considers some challenges of preparing financial statements and procedures of disclosing information on enterprise performance related to financial and nonfinancial activities. The major challenges are as follows: 1) arrangement of performance indicators under the tax legislation; 2) lack of unified methods for assessing transparency of information presented in financial statements; 3) the need for common information environment; 4) corruption; 5) extra expenditures related to reporting under IFRS; 6) provision of “appropriate” indicators in order to reduce the tax base, win tenders or report to investors; 7) the trend to present indicators in response to external requirements and for making “good images” for external users.