The present study attempted to assess the impact of fundamental ratios on the share prices of selected telecommunication companies in India. India has dramatically expanded over the past ten years to become the second-biggest telecoms market worldwide, with 1.17 billion users. The Indian telecom industry has proliferated thanks in part to the government of India’s liberal and reformist policies and strong customer demand. It has become a lucrative investment sector for investors due to its recent and prospective growth. Data on 13 telecom firms indexed in the S&P BSE telecommunication index from 2013 to 2022 were taken from companies’ annual reports, the BSE website (Bombay Stock Exchange), and other secondary sources. Six firm-specific fundamental factors viz. Debt to Equity ratio (D/E), Current ratio (CR), Total Assets Turnover ratio (ATR), Earnings per share (EPS), Price to earnings ratio (P/E), Return on equity (ROE), and three country-specific fundamental factors viz. Gross Domestic Product, Inflation rate, and S&P BSE Sensex return were considered. Fixed effect panel regression through Generalized Least Square (GLS) model was performed to find inferences. Debt Equity ratio and Inflation rate were found to impact share price negatively. Conversely, the Total Assets Turnover ratio (ATR), Earnings per share (EPS), Price to Earnings ratio (P/E), and Return on Equity (ROE) positively impacted selected companies’ share prices. The study results will benefit individual & institutional investors in formulating their investment and portfolio diversification strategies for gaining a high effective rate of return on their investments.
The use of green bonds as a financial instrument to support sustainable development has become a major focus in Indonesia. However, the success of green bond implementation not only depends on market willingness but also on public policies that support and regulate its use. Therefore, this research aims to analyze the impact of public policies on the use of green bonds in Indonesia and how these policies can influence sustainable development. Public policy theory and sustainable development theory are the basis of analysis in this research. Public policy theory is used to understand how public policies are formed, implemented, and evaluated. Meanwhile, sustainable development theory is used to evaluate the impact of public policies on sustainable development. This research uses a qualitative approach with public policy analysis as the main method. Data are collected from various sources, including policy documents, government reports, and interviews with relevant stakeholders. The analysis results show that public policies have a significant impact on the use of green bonds in Indonesia. These policies cover various aspects, such as regulation, incentives, and government support. Additionally, these policies also influence how green bonds are used to support sustainable development in Indonesia. In order to promote sustainable development, it is important for the Indonesian government to continue developing and strengthening public policies that support the use of green bonds. This will help improve the success.
This study aims to analyze, investigate the implications, and identify differences in the progress of the effect of institutional changes and organizational transformation in Indonesian higher education. The structuration analysis shows that examining the conditions that have resulted in the replication and modification of social systems is the focus of the structuration analysis. The image of structuration theory conveys both a sense of regularity and continuity, as well as respect for the labor that must be done daily and the mundane but essential tasks that must be completed. The finding of this study is that with the mandate that universities have been given to implement the three primary pillars that support Indonesia’s higher education system, the difficulty level of the problem facing Indonesia’s higher education system has increased. We suggest a future research agenda and highlight the changes and transformations in power, interests, and alliances that affect the evolution of higher education institutions.
This paper aims to explore the relationship between corporate overinvestment and management incentives, focusing particularly on the influence of different ownership structures. Utilizing agency theory and ownership structure theory, this study constructs a theoretical framework and posits hypotheses on how management incentives might influence corporate overinvestment behaviors under different ownership structures. Listed companies from 2010 to 2020 were selected as the research sample, and the hypotheses were empirically tested using descriptive statistics, correlation analysis, and regression analysis. The findings suggest that a relatively concentrated ownership structure may encourage management to adopt more cautious investment strategies, thus reducing overinvestment behaviors; while under a dispersed ownership structure, the relationship between management incentives and overinvestment is more complex. This study provides new evidence on how management incentive mechanisms influence corporate decision-making in different ownership environments, offering significant theoretical and practical implications for improving internal control and incentive mechanisms.
The proportion of national logistics costs to Gross Domestic Product (NLC/GDP) serve as a valuable indicator for estimating a country’s overall macro-level logistics costs. In some developing nations, policies aimed at reducing the NLC/GDP ratio have been elevated to the national agenda. Nevertheless, there is a paucity of research examining the variables that can determine this ratio. The purpose of this paper is to offer a scientific approach for investigating the primary determinants of the NLC/GDP and to advice policy for the reduction of macro-level logistics costs. This paper presents a systematic framework for identifying the essential criteria for lowering the NLC/GDP score and employs co-integration analysis and error correction models to evaluate the impact of industrial structure, logistics commodity value, and logistics supply scale on NLC/GDP using time series data from 1991 to 2022 in China. The findings suggest that the industrial structure is the primary factor influencing logistics demand and a significant determinant of the value of NLC/GDP. Whether assessing long-term or short-term effects, the industrial structure has a substantial impact on NLC/GDP compared to logistics supply scale and logistics commodity value. The research offers two policy implications: firstly, the goals of reducing NLC/GDP and boosting the logistics industry’s GDP are inherently incompatible; it is not feasible to simultaneously enhance the logistics industry’s GDP and decrease the macro logistics cost. Secondly, if China aims to lower its macro-level logistics costs, it must make corresponding adjustments to its industrial structure.
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