This essay considers Social Impact Bonds not from the point of view of the Investor, or the Government, or the Service Population, but from the vantage point of nonprofit organization officers and directors who contemplate a SIB venture. From this perspective, not all the foreseeable perils have...

Working capital management (WCM) plays a significant role in company's operations. The aim of this research is to explain how working capital management affects profitability of Serbian companies measured by ROA indicator. In order to answer the question, a quantitative analysis of working...

A strong case can be made that the key determinant of a firm's long-term performance is its knowledge building proficiency. Knowledge building and value creation are opposite sides of the same coin. As such, this PowerPoint lays out six key learning objectives. First, knowledge building is the...

There is extensive research addressing questions of optimal capital structure. Studies typically focus on estimating the appropriate level of debt and the factors associated with financial leverage. This paper addresses a slightly different question: how does a company's choice of leverage...

This article investigates the implementation of the "Optimal Strategic Performance Positioning (OSPP) Matrix" (Kipley et al., 2012), which evaluates the interconnectedness of four factors: "Strategic Posture," "Strategic Investment," "Future Competitive Position," and "Future Industry...

We empirically study the role of product market competition and market power, discipline vs complement role, on real earnings management (REM) in Indonesia. Using 1800 firm-year observations from 2012 to 2020, we discover that the competition has an inverse association with REM, implying that...

In this study, we aimed to investigate the financial implications of website performance on restaurant visitor traffic. It is crucial to address the current challenges faced by the restaurant industry, such as decreasing diner numbers due to rising prices, which can have a negative impact on the...

Sales growth is essential for an enterprise's survival and financial growth.If an enterprise manages to achieve sales growth, its expansion can be accomplished. However, does sales growth always have only positive effects?If the enterprise is not collecting enough cash, it can miss a payment on...

In this paper, we examine the time-series properties of the earnings-return relation and explore the implications of its changing landscape for the literature. We document strikingly opposite time-series patterns of earnings surprises and associated market reactions. Earnings surprises have...

We provide evidence that the resolution of financial distress through bankruptcy has implications for the subsequent covenant design of loan contracts. We document that lenders prefer performance covenants and put less weight on capital covenants in loans agreed in the year after the firm’s...