Chairman statement in the corporate annual report is classified as narrative accounting and until today it remains as voluntary disclosure. Without guidelines by the accounting standards setters and close monitoring by the regulators, it is hypothesised that company management may exaggerate the...

When the source of external capital for Continental European firms is examined, debt markets have historically supplied a much larger percentage of the external capital than equity markets, and firms rely much more on bank debt than bonds for their external funds. In this environment banks have...

This paper explores the idea of strategic navigation as a flexible approach to managing organisational performance and dealing with environmental turbulence. Strategic navigation expands and builds on the traditional concept of strategic control and could be used to help guide the design of more...

Although prior studies provide evidence that investment in research and development (R&D) expenditure enhances a firm's performance, very little evidence is available on the impact of a firm's life cycle stages on the association between R&D expenditures and firm performance. We classify firms...

This study examines, critically, the relationship between movements in stock prices of a sample of Indonesian telecommunications companies listed on the Indonesians Stock Exchange and the nature of their relationship, if any, to company financial performance. It analyses 23 financial reports...

This study explores the roles of the board of directors (BOD) (as a proxy for board performance) in Malaysian listed companies and examines the relationship between board roles and firm performance. Four board roles (strategy, service, monitoring, and resource dependence) are considered in this...

It is commonly argued that a better investment climate reform – i.e., lower distortions in the institutional, policy and regulatory environment in which firms operate – lead to discernible improvements in firm performance. In this paper, we argue that effective State–Business...

This paper is a non-technical introduction to the use of three micro-econometric tools that have only recently been applied in empirical investigations of the links between international firm activities and firm performance. It shows why it is important to use these methods, how to use them in...

The view that profitability, not growth, is the driving force behind the firm performance, and unprofitable high growth can not lead to financial success has often been discussed in the literature. In this study, I tested this hypothesis on Turkey’s top 1000 data using an extended version of...