The primary objective of this research is to investigate the relationship between tax avoidance, income and cash held in companies listed on the Tehran Stock Exchange from 2009 to 2013. In this regard, avoidance of paying taxes is independent variables and criteria for evaluating financial performance; namely return on assets, return on average equities, economic value added, market value added, and the ratio of free cash flow are considered as dependent variables. Firm size and financial leverage are also considered as control variables. In general, the statistical method used in this research is correlation and regression. The results of the research showed that there was a significant and reverse relationship between avoidance of paying taxes and performance evaluation criteria, cash held.
The growing field of behavioral economics (BE) has revolutionized the way we look at economic behavior at micro and macro levels. Importance of foreign direct investment (FDI) appeals for analysis of decisions made regarding it to be assessed from expanding view of BE. This research provides overview of previous studies and focuses on the case of Bosnia and Herzegovina (B&H) as representative of emerging markets to investigate motivations for investing into this country by temporarily present foreign companies. Empirical analysis was based on the questionnaire that was disseminated among foreign investors to B&H. Questionnaire contained motivations for investing in B&H, where examined motivation factors were divided in two groups; namely irrational and rational ones. Choice of methodology was narrowed due to moderate sample size, but consisting of quality the sample members. In order to analyze data, descriptive statistics, correlation analysis and regression analysis were used. By regressing two groups of predictors on annual amount of foreign investments to B&H, it was shown that the highest motivation for investing was business instinct.
The positive effect of globalization has continued to impact FDI inflow to developing countries during the last decade except for the rising influence of political risk in host locations. Mixed outcomes have trailed the findings related to the studies on FDI and political risk relationship and in particular on African countries like Nigeria. This paper investigated the effect of political risk on FDI inflow to Nigeria using secondary data from 2000 to 2014 using simple linear regression. The study combined from select variables, the institutional factors with location determinants peculiar to Nigeria’s risk environment. It is found that political risk holds a positive and significant association with FDI to Nigeria but not close enough to inhibit the inflow of foreign investment to the country. However, the findings provide a strong basis for policy shift in relation to security, country promotion and rebranding as well strengthening of institutions.
This survey research paper explores the methods most commonly used in over 190 studies determining life insurance efficiency. The purpose is to provide an overview of life insurance efficiency studies and guidance as to the (dis)advantages of the different techniques used plus their applicability to life insurance. An evaluation of the different approaches is undertaken plus an examination of the numbers and trends of methods and aspects of life insurance efficiency measurement. This paper also discusses the fundamental elements of life insurance efficiency estimation, such as the set-up and form of outputs and inputs. Findings include that the focus of life insurance efficiency studies considering individual nations has changed. Additionally data envelope analysis is the technique used most commonly with stochastic frontier analysis next. Another main result is that output proxies (akin to) premiums and investment income is utilized most. This study allows practitioners to determine the best techniques to employ in life insurance efficiency studies. Moreover an evaluation by regulators of the value and applicability of such studies is facilitated. This article builds upon those previous to enumerate and investigate the approaches most commonly used in over 190 papers determining life insurance efficiency and has described the advantages and disadvantages of these methods. Therefore an assessment of the overall results of efficiency studies is possible. In addition ideas for potential further research are discussed. Consequently this review will be useful to both practitioners and regulators concerned with this area.
Polyester short cut fiber is a textile industry which is rarely explored or researched. This research explains the necessary steps of improvement using Six Sigma method to reduce the nonconform-ing products in a polyester short cut fiber manufacturing in Indonesia. An increased noncon-forming products in the shortcut fiber production process created some quality problems from January to May, 2015. Define, measure, analysis, improve, control (DMAIC) steps were im-plemented to determine root cause of the problems and to improve production process using sta-tistical approach. The results of Six Sigma improvement has indicated that the process capability was increased from 2.2 to 3.1 sigma, savings $18,394.2 USD per-month.
Six Sigma is the concept of improving the quality by reducing process variations, making con-tinuous improvements, reducing defect rates and improving the processes. Initially, the concept of Six Sigma focused on defect reduction, cost reduction and value addition. Fundamentally the basic idea of Six Sigma is to improve the process-capability and making the process more relia-ble along with reducing wastes within industries. Evaluation the implication of applying Six Sigma over the small and medium-sized enterprises is the main purpose of this research work taking a particular case of automobile industries. In the present work, DMAIC methodology of Six Sigma is used to a small seat slider lock nut manufacturing unit to reduce the play issue in K2 seat slider lock in automobile units by reducing defects inherent in the process. After apply-ing Six Sigma methodology, it was found that manufacturing units could earn profits in terms of reducing the wastage as well as improving the quality standard of the product by controlling the play issue in seat slider lock nut mechanism. Result shows that with the application of Six Sig-ma, process, sigma level brought up to 5.53σ from 1.59σ by varying the seat slider lock nut di-mensions/size.
Activity-Based-Model (ABC) is used for the purpose of significant improvement for overhead accounting systems by providing the best information required for managerial decision. This pa-per discusses implacability of ABC technique on inventory valuation as a management account-ing innovation. In order to prove the applicability of ABC for inventory control a material driven medium-sized and privately owned company from engineering (iron and steel) industry is select-ed and by analysis of its production process and its material dependency and use of indirect in-ventory, an ABC model is explored for better inventory control. The case revealed that the ne-cessity of ABC in the area of inventory control is significant. The company is not only able to increase its quality of decision but also it can significantly analyze its cost of direct material cost, valuation of direct material and use its implications for better decision making.
In this paper, an effort has been put to develop a model for estimating growth based on logit re-gression (logit) and implemented the model to Italian manufacturing companies. Our data set consists of 8232 SMEs of Italy. To estimate the growth of the firm an innovative approach that considers annual statements issued the year before the accelerated growth has been considered as the effective estimators of firm growth. The result of the logit showed that return on asset, log (cash flow) and log (Inventory) positively affect in estimating the growth of the high growth firm whereas working capital turnover times negatively affects in estimating the growth of the firm. The discriminant power of the model using Receiver Operating Characteristics curve shows 72.35%, which means the model is fair in terms of estimating the growth.
Nuclear logging is one of major areas of logging development. This paper presents an empirical investigation to bring the drilling and completion of wells from an ill-defined art to a refined sci-ence by using radioactive source to “look and measure” such as formation type, formation dip, porosity, fluid type and numerous other important factors. The initial nuclear logging tools rec-ords the radiation emitted by formation as they were crossed by boreholes. Gamma radiation is used in well logging as it is powerful enough to penetrate the formation and steel casing. The ra-dioactive source is reusable so that after engineer finished the job the radioactive source is sent back to bunker. In this case inventory level of radioactive source is relatively high compared with monthly movement and the company must spend large amount of cost just for inventory. After calculating and averaging the monthly movement in 2014 and 2015, we detected a big pos-sibility to cut the inventory level to reduce the inventory cost.
An effective safety management requires attention to human factors as well as system compo-nents which make risky or safe situations at technical components. This study evaluates and ana-lyze ergonomic behaviors in order to select the best work shift group in an Iranian process in-dustry, in 2010.The methodology was based on the Ergonomic Behavior Sampling (EBS), and TOPSIS method. After specifying the unergonomic behaviors and with reference to the results of a pilot study, a sample of 1755 was determined, with a sampling accuracy of 5% and confi-dence level of 95%. However, in order to gain more confidence, 2631 observations were collect-ed. The results indicate that 43.6% of workers’ behaviors were unergonomic. The most frequent unergonomic behavior was amusing of legs while load lifting with 83.01% of total unergonomic behaviors observations. Using TOPSIS method, the most effective shift group and the least at-tractive alternatives for intervention were selected in this company. Findings declare high number of unergonomic behaviors. Catastrophic consequences of accidents in petrochemical industry ne-cessitate attention to workers’ ergonomic behaviors in the workplace and promotion of them.