This research aims to examine the relationships among entrepreneurial orientation, organizational learning capability, firm innovation, and firm performance. To achieve a data collection, a mail survey procedure via questionnaire was implemented by using executives or managers of gems & jewelry industries, textile and clothing industries, leather and accessories, fashion apparel industries in Thailand as the key informants. Of the surveys completed and returned, 388 were usable. Hence, a model with a structural equation was used to evaluate the data survey of 388 respondents. The results reveal that, in terms of the mediating effect, organizational learning capacity and firm innovation can complement each other in order to improve entrepreneurial orientation. Findings show that entrepreneurial orientation improves firm innovation, which in turn improves firm efficiency. Firm innovation acts as a variable mediating between enterprise orientation and firm performance. Our findings contribute to the current emergence of organizational learning capacity that mediated the relationship between entrepreneurial orientation and firm performance. Entrepreneurial orientation is normally a firm performance that enterprises develop which can have use the information available and make an impact. It can be considered through the mediation of organizational learning capability, and firm innovation variable and as stated in previous literature, it can influence firm performance.

The purpose of this study is to examine and analyze the effect of human capital supply chain on the firm performance mediated by innovation culture and innovation process on small- and medium-sized construction enterprises (SMEs) in Indonesia. A survey has been distributed to all construction SMEs that have direct involvement in construction work (contractors and subcontractors). The construction SMEs including medium- and small-scale construction services in three Provinces, namely, the special region of Yogyakarta, East Java, and Central Java. Through purposive sampling technique, primary data is collected by giving a questionnaire to the owner/manager of construction SMEs. The target sample in this study was 200 respondents who have been operating for a minimum of two years. 154 valid questionnaires could be processed. Data analysis uses structural equation modeling with AMOS 24. The results of the study conclude that there is a positive effect on human capital supply chain on firm performance mediated by innovation culture and innovation process, while innovation culture does not affect firm performance. In sum, the innovation culture mediates the relationship between human capital supply chain and firm performance, and the innovation process mediates the relationship between human capital supply chain and firm performance.

The human and capital resources from foreign investors are important sources of finance for developing countries. Foreign ownership can help the firm to raise funds for operations and the foreign management can help the firm expand the market and improve management. However, does this really happen to Vietnamese firm? To find the answer to that question, this paper examines the impact of foreign ownership and management on the financial performance of listed firms on Vietnam’s stock market. The data collected include 427 listed firms in all fields over five years, from 2014 to 2018. The financial performance is measured by Tobin’s Q, ROA and ROE. The study carried out testing of each model by the least squares method of Pool OLS, assessing random effects (REM) and evaluating fixed effects (FEM). The most effective model is the FEM model. The results show that the foreign ownership ratio and the size of the firm have a positive impact on the financial performance. The foreign management, the age of the firms, the liquidity and financial leverage have a negative impact on the financial performance. Based on the research results, the study proposes some recommendations to improve the financial performance of listed firms in Vietnam.

This study investigates the role of logistics capability and logistics outsourcing on the performance of manufacturing companies in Pakistan. It examines how logistics capability affects firm’s performance, why outsourcing is essential and how firms benefited if they outsource the service rather than establishing their own logistics capability. This research is based on a survey using structured a questionnaire to collect the primary data. The target population is logistics specialists of manufacturing companies in Pakistan with head offices based on Karachi, that have their own logistics or outsource their logistics. The questionnaire has been distributed to 500 respondents in 113 manufacturing companies in Pakistan. Confirmatory factor analysis has been used as statistical techniques to check the factor loading of the components, and SEM (Structural Equation Model) is used to check the impact of logistics capability on firm’s performance as well as the role of logistics outsourcing as a mediator. The findings of the research suggest logistics capability has positive impact on the performance of the manufacturing companies in Pakistan, and logistics capability has also an impact on logistics outsourcing. On the other hand, the study found that logistics outsourcing has no significant impact on the manufacturing companies in Pakistan.

This study aims to examine the effects of strategic management accounting on firm performance of finance businesses in Thailand. Strategic management accounting comprises of environmental scanning, competitor orientation and forward-looking information. In this study, 175 finance businesses in Thailand are the samples of the study. A mail survey procedure was used for data collection. The hierarchical multiple regression analysis is employed to test the research relationships. Firstly, environmental scanning positively affects operational excellence, organizational effectiveness and firm performance. Secondly, competitor orientation is positively related to managerial efficiency and organizational effectiveness. Thirdly, forward-looking information has a positive influence on operational excellence, managerial efficiency, organizational effectiveness, and firm performance. In addition, operational excellence, managerial efficiency and organizational effectiveness have positive impact on firm performance. Finally, to verify the mediating effects, operational excellence, managerial efficiency and organizational effectiveness are the mediators of the research relationships. This study confirms that all dimensions of strategic management accounting play a significant role in determining business outcome as being congruent with the theory of resourcebased views of the firms. Executives of firms need to provide valuable resources and capabilities to support the strategic management accounting implementation in order to achieve good business outcome in highly competitive environments.

This paper explores the impact of capital structure on firm performance in the context of Vietnam. The paper investigates the different effect of capital structure on firm performance in state-owned and non-state enterprises listed on the Vietnam stock market. The panel data of research sample includes 488 non-financial listed companies on the Vietnam stock market for a period of six years, from 2013 to 2018. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, firm performance is measured by return on equity (ROE), return on assets (ROA), and earnings per share (EPS). The ratios of short-term liabilities, long-term liabilities, and total liabilities to total assets are proxy for capital structure. Firm sizes, growth rate, liquidity, and ratio of fixed assets to total assets are control variables in the study. The empirical results show that capital structure has a statistically significant negative effect on the firm performance. The result also shows this effect is stronger in state-owned enterprises than non-state enterprises in Vietnam. These evidences provide a new insight to managers of both state-owned and non-state enterprises on how to improve the firm’s performance with capital structure.

The study aims to answer why the previous studies find the positive or insignificant effect of the CEO's abilities on firm performance. Using 34,285 CEO-firm-year panel data from the U.S. publicly traded firms drawn from the BoardEx and EXECUXOMP database during from 1992 to 2014, the results show that the fit of the CEO‟s generality or specialist ability with firm strategy matters on firm performance and risk. This study computes a discrete STRATEGY composite measure to construct firm strategy types, such as Prospect or Defend and use CEOs‟ résumés to construct an index of general skills that are transferable across firms and industries. The results find that generalist CEOs are more suitable for prospectors than specialist CEOs. Firm performance is much better when specialist CEOs work for Defenders. Although the firm performance is better too for the generalist CEOs who fit for the Prospect strategy, the firm‟s risk is up too. The result suggests that firms need to consider their chosen business strategy to recruit and select CEOs Our findings provide direct evidence that the match between CEO‟s ability and the firm‟s strategy is crucial to firm performance and risk.

The main purpose of this study is to examine the impact of intellectual capital disclosure (ICD) on firm performance in the pharmaceutical and chemical industry of Bangladesh. In this study, 21 listed pharmaceutical and chemical companies have been selected as sample for 2016 and 2017. This study used the intellectual capital disclosure index developed by Rahman, Sobhan, and Islam. Return on assets and return on equity have been used as the proxy variable of firm performance. In this study, content analysis is performed to assess the level of disclosure regarding intellectual capital and pooled cross-sectional analysis is used to assess the relationship between ICD and firm performance. The study has found a positive and significant relationship between ICD and firm performance. Besides, an in-depth analysis of this study shows that all the components of ICD namely internal capital disclosure, external capital disclosure, and human capital disclosure are also positively and significantly associated with firm performance. The study suggests the development of an intellectual capital disclosure framework by the regulatory authority for mandatory compliance. This will improve the quality and quantity of ICD in the annual reports. Besides, firms should more emphasize on ICD which will help to improve their performance.

The study examines whether higher CEO compensation is related to unobserved future firm performance in an emerging market, Pakistan. Further, it extends its scope to analyzing the impact of group affiliation and ownership concentration on the relationship between CEO compensation and future firm performance. The study uses an unbalanced panel data consisting of 1508 firm-year observations from 225 non-financial listed companies in Pakistan Stock Exchange (PSX) for period 2005 to 2012. The multiple regression models adjusted to heteroskedasticity and autocorrelation in error terms are used. The study finds that, in general, CEO compensation is positively associated with future operating performance. However, higher CEO compensation leads to lower operating performance in firms that have lower ownership concentration and are affiliated with business groups. When firms are not affiliated with any group and have high ownership concentration, the relationship between excessive CEO compensation and future operating performance becomes insignificant. Given that efficient compensation packages may lead to long term value creation to shareholders and reduce agency problems, this study highlights an important moderating role of ownership concentration and group affiliation of the firms in emerging markets.

The study aims to investigate the determinant factors in the organisation of a firm’s innovative activities, and the impact of innovation capability on firm’s performance of electronic firms in Ho Chi Minh city, Vietnam. How is the performance of electronic companies after delivering an innovation project? How will innovation capability affect firm’s performance in electronic companies? This study aims to seek the answer of these questions. We employ a Structural Equation Model and the PLS technique in order to validate the theoretical model proposed in this study. With observation of 374 valid firms, based on Cronbach’s Alpha analysis, EFA analysis, CFA analysis and SEM analysis, this study discovers 5 groups of factors including: (i) Institution factors; (ii) Attitude of leadership factors; (iii) Marketing factors; (iv) Technological resources factors; (v) Combination factors, which have direct impact on innovation capability of firms. There are 4 groups of factors that have positive impacts on financial performance of electronic firms, with descending order of importance as follows: (1) Attitude of leadership factors; (2) Quality of human resources factors; (3) Innovation capability; (4) Marketing activities factors. Research results are important implications for Government administrative agencies for business to consult and introduce effective support policies.

The study aims to examine the impact of productivity in addition to the policy of increasing the foreign investors’ ownership rate on the performance of businesses which were listed on Vietnam's stock exchange market from 2010 to 2017. With the database of 3.961 observations, the study employs a statistical method – multiple regression to estimate the relationship between labor productivity, foreign ownership as well as other firm-level characteristics and firm performance. Research findings show that increasing labor productivity and increasing foreign ownership rates help increase firm performance. In addition, except for financial leverage, variables such as liquidity and firm size have positive effects on firm performance measured by Tobin’s Q. These findings have theoretical contributions and practical implications for managers, investors and government in Vietnam. Managers should pay attention to improving labor productivity through employing incentive mechanisms, building a good working environment, investing in technology, etc. in order to enhance the firm performance. Investors could utilize the labor productivity and foreign ownership indicators to select stocks of good companies for investment. For Vietnamese government, relaxing the limit of foreign ownership and accelerating the divesting of State capital in Stateowned enterprises could help increase the investment scale of foreign investors and resulting in positive effects on the firm performance.

Purpose - The purpose of this study is to explore how advertising for multilevel marketing brands affect the salesperson’s activity including customer-salesperson interactivity, work attitude, and perceived and actual performance after the campaign. Research Design, data, and methodology - This study collects experimental data, survey data, and actual sales data and applies statistical analyses such as factor analysis, t-tests, and a structural equation model. Results - The results show that advertising campaign can enhance a salesperson’s selling activities and provide wide managerial implications to a multilevel marketing firm by filling the gaps for the field of advertising research. Conclusions - Managerial implications include: i) multilevel marketing firms should consider advertising campaigns as a means of changing customer responses because advertising plays a significant role in increasing familiarity with, and knowledge of, attitudes toward the brand, which also helps salespeople interact with customers; ii) multilevel marketing firms should consider brand advertising as a means to support the sales activities of salespeople including sales effectiveness, work attitudes, and perceived performance, and iii) multilevel marketing firms should consider brand advertising as a means to enhance a salesperson’s pride and motivation for selling their brand, which will lead to improved sales performances.

The auditor, an important instrument of corporate governance, ensures the transparency and accountability of the firm to the stakeholders. The objective of this paper is to explore the impact of audit characteristics on firm performance. In this study, external audit quality (BIG4), frequencies of audit committee meetings, and audit committee size are used as the proxies of audit characteristics and firm performance is measured through ROA, profit margin and EPS. A total of 503 firm years are considered as sample size from the listed manufacturing firms of Dhaka Stock Exchange (DSE) during the period of 2013 to 2017 to find out the impact of audit characteristics on firm performance. In this study, multivariate regression analysis is conducted using the pooled OLS method. Moreover, time dummy and lag model of multivariate analysis are also analyzed as robust check. The multivariate regression results find that external audit quality (BIG4) and audit committee size are significantly positively associated with firm performance. This study also finds that there is a significant negative relationship between audit committee meeting and firm performance. This study recommends that the regulatory authority and audit committee should review the frequencies of audit committee meeting to make it more effective to ensure better firm performance.

Purpose – For small and medium sized firms, CEO characteristics are main factor influencing firms’ prosperity as well as performance. So it is quite natural that many people are interested in factors of CEO that matters. In this research, CEO characteristics in terms of capabilities and skill or special knowledge necessary to run the business are invested for manufacturing firms. Precedent studies reveal that CEO characteristics such as psychological factors including desire to succeed, tendency to take risks, personal factors including age, year of running business, and task related factors including managing capability, communication skills, network influence firm performance for manufacturing firms. However, these studies simply verify whether or not those factors affect firm’s managing performance. This study, however, goes further to investigate how is the affecting process from CEO’s capabilities and organization characteristics to firm’s core competence, and from core competence to advantages, and from advantages to managing performance. Research design, data, and methodology – We make a questionnaire and surveyed manufacturing firm CEO’s in Gyeonggi-do area. General characteristics analysis, factor analysis, regression analysis, and control effect analysis was conducted. SPSS 2.0 Win, version was used. Results – The CEO characteristics including basic capability, task capability, leadership, and organization characteristics affect core competence at the statistically significant level. And, core competence affect both price advantage and differentiation advantage at the significant level. Some unique finding is that while differentiation advantage affects both financial achievement and non-financial achievement, price advantage does not affect both financial and non-financial achievement. And firm characteristics mainly measured by CEO characteristics of skills has control effects on the trace from core competence to price advantage. Conclusions – For small and medium sized firms CEO characteristics is the most important factor influencing firm’s prosperity. For manufacturing firms, whether CEO has the skill or special knowledge to run the firm is critical factor. The study results show that CEO’s for manufacturing firms put importance on price and price advantage which seems to be familiar to them. However, the price advantage does not influential to financial and non-financial achievement. This result suggests that small and medium sized manufacturing firms’ CEO’s should make effort to improve other aspects of advantages to be more competitive.

Corporate governance has received massive attention in academic research nowadays due to several recent corporate failures. Inefficiency of corporate governance mechanisms have driven the minds of the researchers and the policy makers to look with more insights into this area. Board composition, as part of corporate governance mechanism, plays a significant role to achieve company’s goals or objectives and ensure transparency and accountability. The objective of this study is to find out the efficiency of board composition through board size, independent directors and female directors on firm performance in the listed manufacturing firms of Bangladesh. In this study, a sample of 162 firm years are considered as the sample during the period of 2011 to 2016. This study finds that large board is the significant explanatory variable in improving firm performance. This study also shows that board independence and female directors have no significant association with firm performance which implies that instrument of corporate governance mechanism particularly board composition is very weak. This study recommends that code of corporate governance, specially the role of independent directors and female directors, should be reformed in the light of cultural and institutional context along with the effective enforcement.

This paper takes 36 companies as sample which are first listed in growth enterprise market, using panel threshold regression to verify the relationship between capital structure and corporate performance. After considering dividends, scale growth, investment diversification, managerial ownership and other factors, the empirical result is consistent with the trade-off theory, that is, there exists optimal capital structure according to listing companies in GEM market. The relationship between capital structure and corporate performance is nonlinear, when liability ratio is below 0.1769, increase the liability ratio can improve corporate performance, and when liability ratio is above 0.1769, increases the liability ratio can reduce corporate performance. As a result, GEM companies should use financial leverage appropriately, in order to realize the goal of corporate value maximization.

Purpose – The purpose of this study is to investigate the effect of corporate governance practices such as (board size, board composition, CEO duality and audit committee) on the performance of selected Pakistani firms. Research design, data, and methodology – This study examines corporate governance structure by using the data of 80 non-financial firms listed on Karachi Stock Exchange Pakistan during 2010-2014. Hypotheses of the study were tested by using both descriptive and inferential statistics. Result – The findings indicate that board size and audit committee is positively related to the firm performance (ROA & ROE). In contrast, board composition and CEO duality are negatively related to the firm performance (ROA & ROE). As far as controlling variables is concerned, leverage is negative, whereas firm size is positively related to all measures of performance. Conclusions – Empirical findings concluded that corporate governance practices affect the firm performance. Therefore, it is suggested that managers should understand the governance mechanisms to work more efficiently in the firm

Purpose The purpose of this – study is to empirically investigate the impact of capital structure on firm performance. Research design, data, and methodology – This study examined the impact of capital structure on the performance of cement companies listed on the Karachi Stock Exchange during the period 2009-2013. The authors hypothesize that there is a negative relationship between capital structure and firm performance. To examine the association, the authors run a Pearson correlation and multiple regression analysis. Results – Results reveal a strong negative relationship between debt to asset and firm performance variables (GPM, NPM, ROA, and ROE). Further, there is a positive relationship between debt to equity and firm performance variables (GPM and NPM), anda negative relationship between debt to equity and firm performance variables (ROA and ROE). Moreover, capital structure variables significantly impact firm performance. Conclusions – This study concluded that financial analysts and managers should emphasize on the optimal level of capital structure and efficient utilization and allocation of resources to achieve the targeted level of productive efficiency in business

본 연구의 목적은 국제물류서비스 제공자인 복합운송주선업체와 그 수요자인 화주간의 관계에서 복합운송주선업체의 서비스지향성과 종업원만족, 경영성과간의 구조적인 관계를 검정하고자 하는 것이다. 연구목적을 효과적으로 달성하기 위하여 문헌연구와 함께 복합운송주선업체를 대상으로 한 설문조사를 통한 실증분석을 병행하였다. 연구결과 복합운송주선업체의 서비스지향성은 종업원만족에 긍정적인 영향을 미치며, 종업원만족은 기업의 재무적 성과에 영향을 미치는 것으로 분석되었다.

The purpose of this research is to introduce the concept of "relationship formation factors" in inter-firm relations and to empirically demonstrate that they are effective in improving the relationship results by means of an mediating variable. Therefore, the basic model of this study consists of the independent, mediating, and dependent variables. First, the independent variables, that is, the relationship formation factors, are further classified into three components. transactional, relational, and environmental characteristics. Then, the study empirically examines how each of the three components influences the dependent variable. that is, the business performance(Load Factor), by way of the mediating variables, that is, trust and relationship commitment.