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Author: Bok Baik Publisher: ISBN: Category : Languages : en Pages : 55
Book Description
This study examines whether changes in operational efficiency predict firm performance. Using measures based on frontier analysis as our proxies for operational efficiency, we find that changes in efficiency are positively associated with changes in current and future profitability. We also find a positive relation between efficiency changes and contemporaneous stock returns, implying that investors find the information in efficiency changes to be value relevant. However, we also show that efficiency changes predict future stock returns, suggesting that market participants do not fully incorporate the predictive power of changes in efficiency for future changes in profitability. Finally, we show that our measures of operational efficiency changes are positively associated with analyst forecast revisions, but not associated with analyst forecast errors; these results suggest that analysts have a deep understanding of firms' efficiency. Importantly, our results hold even after controlling for fundamental signals and changes in asset turnover, a commonly used proxy for operational efficiency. Overall, our study provides evidence suggesting that measures of operational efficiency derived from frontier analysis have predictive power incremental to simple financial ratios. Results from our study therefore have implications for fundamental analysis.
Author: Bok Baik Publisher: ISBN: Category : Languages : en Pages : 55
Book Description
This study examines whether changes in operational efficiency predict firm performance. Using measures based on frontier analysis as our proxies for operational efficiency, we find that changes in efficiency are positively associated with changes in current and future profitability. We also find a positive relation between efficiency changes and contemporaneous stock returns, implying that investors find the information in efficiency changes to be value relevant. However, we also show that efficiency changes predict future stock returns, suggesting that market participants do not fully incorporate the predictive power of changes in efficiency for future changes in profitability. Finally, we show that our measures of operational efficiency changes are positively associated with analyst forecast revisions, but not associated with analyst forecast errors; these results suggest that analysts have a deep understanding of firms' efficiency. Importantly, our results hold even after controlling for fundamental signals and changes in asset turnover, a commonly used proxy for operational efficiency. Overall, our study provides evidence suggesting that measures of operational efficiency derived from frontier analysis have predictive power incremental to simple financial ratios. Results from our study therefore have implications for fundamental analysis.
Author: Riyanto Wujarso Publisher: Asadel Publisher ISBN: Category : Business & Economics Languages : en Pages : 58
Book Description
In the ever-evolving landscape of modern business, the influence of technology has been nothing short of transformative. The book "Effect of Digital Transformation on Company Operational Efficiency" delves into the profound impact that digital transformation has had on enterprises, ushering in a new era of accelerated progress. Encompassing both corporate and societal realms, this study takes an insightful look at the pivotal role played by digital transformation in driving advancements. The book hones in on three pivotal aspects that have been fundamentally reshaped by this technological evolution: Customer Experience, Company Operations, and Business Models. The primary objective of this study is to delve into the intricate relationship between digital transformation and operational efficiency within businesses. By scrutinizing this vital connection, the authors provide a comprehensive understanding of how technology-driven shifts can either bolster or hinder a company's operational prowess. Methodologically rigorous, the research adopts a quantitative approach to dissect the subject matter. A meticulous survey was administered to 96 managers from manufacturing industry enterprises located in Bekasi. This survey was meticulously designed to capture pertinent data and insights regarding the tangible effects of digital transformation. The tool of choice was a tailor-made questionnaire, meticulously crafted to gather precise information. The amassed data was subjected to the rigorous scrutiny of multiple linear regression analysis, ensuring robust findings. The revelations within the book are striking. They illuminate a powerful and affirmative correlation between digital transformation and operational efficiency within businesses. Organizations that have not merely embraced but wholeheartedly harnessed digital technologies have been rewarded with a substantial enhancement in operational efficiency. As a natural consequence, overall company performance has experienced a marked improvement. These revelations underscore the critical significance of weaving digital transformation strategies seamlessly into the fabric of business operations. For those seeking not only to comprehend the forces at play but also to leverage them for unparalleled efficiency and success, "Effect of Digital Transformation on Company Operational Efficiency" is an indispensable guide. Through rigorous research and incisive analysis, the book unlocks the gateway to a future where businesses thrive through their embrace of technological progress.
Author: M. Jakšic Publisher: Springer ISBN: 1137402229 Category : Business & Economics Languages : en Pages : 454
Book Description
This book focuses on business firms as catalysts and agents of social and economic change, and explores the argument that sustainable development is the perfect opportunity for businesses to strengthen the evolving notion of corporate social responsibility, while achieving long-term growth through innovation, research and development.
Author: Robert M. Torok Publisher: John Wiley & Sons ISBN: 0471273538 Category : Business & Economics Languages : en Pages : 331
Book Description
Add value to services and increase revenue while giving your clients more of what they need Operational Profitability, Second Edition explains in complete detail how to conduct a management audit that will give clients the essential information they need in today's fiercely competitive marketplace. At the same time, it enables CPA firms and CEOs to expand their range of services, strengthen business relationships, and increase profits. This newly updated and revised Second Edition walks you through all the steps of a management audit and explains: The basic techniques of the management audit, what it involves, how to set it up, and how to establish a clear set of organizational goals How to rethink and rebuild an organization from the bottom up How to use a full range of analytical tools for identifying problem areas throughout the company How to assess the way a firm manages inventory, purchasing, production planning, and operations How to evaluate and reduce operating costs Praise for the First Edition of Operational Profitability... "A great operating manual for general managers and vice presidents . . . A complete how-to program." —William Hoban, CEO, Green Bay Drop Forge, Green Bay, Wisconsin "The most complete profitability program I've seen. The examples and checklists are excellent. It has saved my clients millions." —Chuck Wadowski, CEO, TMQ Consultants, Detroit, Michigan "[An] outstanding reference source for the modern manager; very impressive." —Arnold Bradburd, CEO, Interstate Steel Company, Philadelphia, Pennsylvania "[Operational Profitability] provides valuable data on operational efficiency and additional service opportunity beyond the usual audit . . . [It] provides the basis of helpful recommendations [and] provides much useful reading guidance for the performance of a management audit." —Alexander A. H. Bohtling, CPA, CPA Journal
Author: MUKTAK KRISHNACHANDRA TRIPATHI Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Standard empirical models of operating efficiency (OE) and managerial ability (MA) assume a symmetric linear relation of OE and MA with firm performance. However, OE and MA metrics are likely to respond faster to a demand decrease than a demand increase due to cost stickiness and respond faster to negative returns than to positive returns due to accounting conservatism. As predicted, I find large asymmetries in the behavior of OE and MA measures. OE and MA in levels (changes) are 2.4 (1.4) times and 1.5 (1.6) times more sensitive to demand decreases than demand increases. Similarly, OE and MA levels (changes) are 1.7 (1.5) times and 3.6 (2.3) times more sensitive to negative returns than to positive returns. The incremental explanatory power of modeling asymmetry in OE and MA levels (changes) is 20.9% (39.5%) and 263.3% (27.6%), measured as incremental adjusted R2. Cross-sectionally, asymmetry in OE and MA varies with the determinants of cost stickiness: (1) asset intensity and (2) employee intensity. Moreover, the degree of asymmetry also varies with the determinants of accounting conservatism: (1) book-to-market value of equity, (2) leverage, and (3) market capitalization. In addition, demand decline (i.e., cost stickiness) and bad news (i.e., accounting conservatism) during prior and successive periods have an incremental impact on the asymmetry in OE and MA. The standard models of OE and MA do not control for these correlated-omitted variables or incorporate the cost stickiness and accounting conservatism asymmetries, which yield biased measurements and render incorrect regression estimates and inferences.
Author: Martins, Carlos Publisher: IGI Global ISBN: 1799818454 Category : Business & Economics Languages : en Pages : 267
Book Description
The globalized economy, dominated by the diffusion of innovation and social, political, and economic changes, allows people and knowledge to flow without knowing what lies ahead. As new economies emerge and technologies impose significant changes, the internationalization of markets and industries has made defining its delimitation more difficult. Competitive Drivers for Improving Future Business Performance is a conceptualized reference source that discusses the use of digital skills to manage change in volatile contexts and provides fundamental understanding of competitive advantage to guarantee superior performances. To assure this level of performance, a set of choices (drivers) must be created ensuring operational efficiency, innovative products, customer knowledge-base, and focused branding. Featuring research on topics such as consumer experience, strategic leadership, and flexible technologies, this book is ideally designed for managers, executives, entrepreneurs, academicians, consulting professionals, researchers, industry professionals, and students seeking coverage on how to improve competitive performance in an era of uncertainty.
Author: Vincenzo Morabito Publisher: Springer Science & Business Media ISBN: 3642326978 Category : Business & Economics Languages : en Pages : 182
Book Description
In this book the author aims to describe the path from Information Technology to Information Management and Information Governance. This path allows organizations to identify IT Business Value and take advantage of it. The book synthesizes the main approaches that have emerged in recent years, compares these approaches along multiple variables, and finally proposes an advanced and new approach to Information Governance, based on the concept of Organizational Absorptive Capacity. Furthermore, the book presents a new approach to Information Management: the SIGMA (Strategic Information Governance Modelling and Assessment) approach. The new approach is centered on information as a key factor allowing integration between IT applications, organizational capabilities and business strategy. In particular, the Absorptive Capacity concept is presented and discussed: this concept represents the ability of an organization to maintain and absorb the potential of information and IT investments. After having presented and discussed the model, we also provide the reader with a brief presentation of how the SIGMA approach should be applied in companies. The book adopts a scientific approach to ensure methodological rigour; however, it is also concrete and describes problems from the viewpoints of managers, adopting a clear and easy-to-understand language in order to capture the interest of top managers and graduate students.
Author: Milena Ratajczak-Mrozek Publisher: Springer Nature ISBN: 3030833607 Category : Business & Economics Languages : en Pages : 327
Book Description
This book explores how digitalization and digital technologies influence markets, firms, financial institutions and organizations. Drawing on examples from Canada, Poland, France, Albania, Africa and Turkey this book takes a truly international perspective. It explores the technical aspects of digitalization, with chapters examining topics like how digitization creates value in a small company, how digital-driven business drives innovation, how import-exporting firms can increase productivity within the digital economy and how financial systems and institutions evolve due to new technologies. However, the book goes beyond this and, by adopting a holistic view, examines the social impact of digitalization, with the authors discussing how trade unions and employers present Industry 4.0 to employees and the general public. This book will be of interest to anyone studying digital innovation, digital management, digital strategy, Fin Tech, firm management, and Industry 4.0. Chapter 1 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.
Author: Bok Baik
Author: Bok Baik
Author: Andy Neely
Author: Riyanto Wujarso
Author: M. Jakšic
Author: Robert M. Torok
Author: MUKTAK KRISHNACHANDRA TRIPATHI
Author: Martins, Carlos
Author: Vincenzo Morabito
Author: Milena Ratajczak-Mrozek
Author: J. Jay Choi