We demonstrate analytically and illustrate with examples that the conventional measures of the residual operating income such as the Economic Value Added (EVA) are biased by design and so may yield a misleading assessment of financial performance. Fundamentally, the magnitude of the measurement...

Firm level empirical research on the impact of financing decisions on small business performance is scarce in the Australian context. This study adopts an instrument variable (IV) approach to analysis the impact of financing decisions, in particular, equity or debt obtained, on the performance...

We develop a comprehensive performance determination framework for small businesses; provide a broad overview of recent firm-level research on firm performance; classify the performance determinants into three categories: (1) immediate factors, i.e. production, operation, marketing, R&D, and...

This research identifies potential links between performance and the level of financial communication on the web. This study examines 216 firms quoted in 2010 on the Free Market of Paris. We use a content analysis of websites and scoring technique, to compute a score of financial communication...

Die Deutsche Ausgleichsbank (DtA) stellt mit den von ihr angebotenen Programmen zur Unterstützung und Finanzierung von Existenz- und Unternehmensgründungen mehr als 80 Prozent der in Deutschland in diesem Bereich vergebenen Mittel bereit. Der Erfolg dieser Programme wurde schon in einigen...

Firms are shifting their social media emphasis from passive listening to active intervention. Despite the proven importance of online word-of-mouth (WOM) on customer satisfaction and engagement as well as firm performance in prior literature, when and how should firms utilize management...

In view of the inconsistent empirical findings in the literature and the limitations of least squares regressions, this paper employs a quantile regression method to investigate the impact that engagement in corporate social responsibility (CSR) activities has on corporate performance in China....

Since the mid-1990s, major Japanese banks have sold off a significant portion of their holdings of corporate equity. Using information on the identity of Japanese firms' top 10 shareholders, this paper explores the process of banks' equity disposal. There is some evidence that, after FY2001,...

While some of the modern performance measures used in managerial accounting rely on cash flow based figuresothers try to take advantage of the information content of accounting figures. However, whether the additionalinformation content in the accrual components of earnings improves the internal...

This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-owned firms and foreign-owned firms in China are not;...