Pedagogia do Oprimido

Sustainable supply chain management: framework and further research directions

Sustainable supply chain management practices, supply chain dynamic capabilities, and enterprise performance

Enterprise risks are objective,measurable and uncertain,and can always cause damagesThe risks can be identified as the factors from both inside and outside of the enterprisesRisks should be assessed in terms of possibilities,levels and extent of impactBased on risks assessment results,enterprises should choose the right responses and strengthen activity control and risk monitoring

On the Enterprise Risk Management

Purpose - The purpose of this paper is to provide empirical evidence for the effective management of working capital and for its impact on the performance of Greek listed companies in terms of profitability, performance and market valuation.Design/Methodology/approach -This research approach is based on the examination of 211 listed on the Athens Stock Exchange firms for a period of six years from 2005 to 2010. This research intents to investigate the effects of the working capital management factors for Greek enterprises’ yields through the examination of profitability (gross operating profit), the performance (return on assets) and the market value of the firm (Tobin Q).Findings -The results of our research showed that there are significant negative correlations between the variables of working capital and the business performance. Thus, we must highlight the importance of managing working capital to ensure improved profitability, efficiency and market value of companies, as this aspect should be part of strategic and operational thinking of Greek enterprises, in order to operate effectively and efficiently.Research Limitations/implications -The main limitation of this research is that examining a sample of listed firms does not allow for generalization of conclusions for all listed firms.Originality/value - This paper provides new evidence for the effects of the determinants of working capital on the efficiency, profitability and market value of listed firms.

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Determinants of Working Capital Management

To overcome competition in a very complex environment, few companies have been able to use the optimization of working capital as a real competitive advantage to leverage profit. The objectives of this article are twofold: a) to investigate if there is any difference between corporate profitability and working capital management in two separate groups of companies: working capital intensive and fixed capital intensive; b) to identify the variables that most affect profitability. The profitability was measured in three different ways: return on sales (ROS), on asset (ROA) and on equity (ROE). The independent variables used are cash conversion efficiency, debt ratio, days of working capital, days receivable and days inventory. Two samples were obtained consisting of 16 Brazilian listed companies in each group for the period 20052009. Multiple linear regression has identified that, as far as ROS and ROA are concerned, to manage working capital properly is equally relevant for the two groups of companies. However the impact of debt ratio and days of working capital are relevant in the company profitability in the fixed capital group as opposed to the working capital group. From ANOVA it is evident that days inventory has negative relationship with ROS and ROA but has no statistical evidence in ROE improvement in working capital intensive group. It has also identified days of working capital as the variable that influences ROS in the second group (positive relationship) while debt ratio is the only variable that affects ROA (negative relationship). These results show that regardless the type of company, whether working capital or fixed capital intensive, managing working capital properly is equally important. Moreover, managing inventory as well as cash conversion efficiency to an optimum level will yield more profit in the working capital intensive type of company, while two other different variables create more profit in the fixed capital intensive type of company.

Relationship between working capital management and profitability in brazilian listed companies

Purpose




The purpose of this paper is to extend the applicability of stakeholder, legitimacy and signaling theories by examining to what extent proactive corporate social responsibility disclosures are interrelated to attempt to gain and maintain legitimacy, to gain support of the stakeholders and to reduce information asymmetry.




Design/methodology/approach




To test the theoretical arguments, a longitudinal approach over a five-year period of 145 companies’ sustainability reports and statistical analysis was applied to investigate the evolution of their quality.




Findings




The results show a significant increase in the quality of sustainability reporting, and the experience gained while writing these reports can contribute to this. Based on signaling and legitimacy theories, this paper suggests that improvement in sustainability reporting quality acts as an important signal to gain legitimacy in case of information asymmetry during the legitimacy process. Th disclosure for economic and social dimensions is better than that of the environmental dimension, and the improvement in quality over time is the because of synergies and interlinkages more between these two dimensions of sustainability, and to a lesser extent because of the environmental dimension.




Practical implications




Firms should view investing in sustainability reporting disclosure as a strategy for obtaining business legitimacy.




Originality/value




The results of this paper are of interest for several reasons: extend and broaden the use of signaling in studying its use on sustainability reporting; the use of three theories is an appropriate framework for empirical analysis of sustainability reporting disclosure quality in Brazil; and add to the scarce evidence of sustainability reporting in Brazil.

Sustainability reports in Brazil through the lens of signaling, legitimacy and stakeholder theories

Corporate sustainability is essential to long-term corporate success and for ensuring markets deliver value across society, and despite its importance, there is no clear consensus as to whether the...

https://journals.sagepub.com/doi/pdf/10.1177/2158244017712027

The Quality of Sustainability Reports and Corporate Financial Performance: Evidence From Brazilian Listed Companies:

Manual de custos de instituições de saúde: sistemas tradicionais de custos e sistema de custeio baseado em atividades (ABC)

The objective of this research is to examine the quality of information disclosed from a sample of Brazilian listed companies, using a multidimensional construct based on economic, environmental and social dimensions of sustainability. The research design combines both quantitative and qualitative methods. The qualitative approach is used in the content analysis procedure and the quantitative is employed for statistical analysis. The target population consists of top 36 sustainable companies (ISE) and 24 with corporate governance practices (NM) in 2011. We find that 37% of the companies achieved score above 0.5; 30% between 0.26 and 0.5 and 33% scored below 0.25, being score zero the worst and one the best score. The best company scored 0.896 and the worst of the 60 companies scored 0.0167. Overall our statistical results confirm that ISE companies tend to disclose more information and in a more adequate way than NM, and in general, the companies are reporting the content in all the three dimensions with same quality level. Furthermore, companies from Infrastructure sector present better quality content reported when compared to Service companies. We conclude that a good sustainability report is directly related to the good content in all the tree dimensions, regardless the economic sector and these reports still have a big room for improvement, which echoes within the literature analyzed. Companies need to disclose their information in a more integrated way, addressing sustainability issues under the scope of business strategy.

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Hong Yuh Ching

Papers

Relationship between working capital management and profitability in brazilian listed companies

Sustainability reports in Brazil through the lens of signaling, legitimacy and stakeholder theories

The Quality of Sustainability Reports and Corporate Financial Performance: Evidence From Brazilian Listed Companies:

Manual de custos de instituições de saúde: sistemas tradicionais de custos e sistema de custeio baseado em atividades (ABC)

Analysis of Sustainability Reports and Quality of Information Disclosed of Top Brazilian Companies