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Journal articles on the topic 'Corporate sector planning'
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Pita, Nomalinge Amelia, Chengedzai Mafini, and Manilall Dhurup. "Corporate succession practices: A public sector perspective." Corporate Ownership and Control 13, no. 4 (2016): 441–46. http://dx.doi.org/10.22495/cocv13i4c3p3.
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In today’s globally competitive and modern environments, organisational future plans often fail due to the lack of succession planning. Literature has shown that in most public services, very little is done to transfer employee skills before they leave the organisation, which largely is attributed to the lack of proper corporate succession planning. This study examined the association between corporate succession planning practices, internal succession barriers and intentions to leave within a public service in South Africa. The study was inspired by the absence of documented evidence of corporate succession planning initiatives, the barriers to succession planning and turnover intentions of employees in the public sector in the South African context. The study is located within a quantitative research paradigm in which a three-section structured questionnaire was administered to a sample of 243 public service employees. Two factors; namely, replacement planning and employee development/grooming were extracted using exploratory factor analysis. The Pearson correlation coefficient showed that corporate succession planning practices and internal succession barriers are negatively related to intentions to leave in the public service. Regression analysis showed that replacement planning and employee grooming are predictors of intention to quit. The results of the study are significant in that they facilitate the development as well as the effective implementation of succession planning initiatives that enable public services to improve human resource practices and counter any existing barriers to internal succession.
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Sløk, Torsten, and Mike Kennedy. "Corporate sector vulnerability and aggregate activity." OECD Economic Studies 2005, no. 1 (March 23, 2006): 85–110. http://dx.doi.org/10.1787/eco_studies-v2005-art4-en.
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Sutherland, Ewan. "Corporate social responsibility: the case of the telecommunications sector." info 18, no. 5 (August 8, 2016): 24–44. http://dx.doi.org/10.1108/info-05-2016-0022.
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Purpose The paper aims to examine the reporting of corporate social responsibility (CSR) in the telecommunications sector and to consider how the obligations and regulations imposed on operators affect what is considered as CSR compared to other sectors. Design/methodology/approach The paper provides a review of the academic literature on CSR, relating this to developments in the regulatory state and the adoption by governments and intergovernmental bodies of CSR instruments. Also, the paper conducts an analysis of coltan, greenhouse gas emissions and privacy as short case studies where CSR issues and regulations meet. Findings Many activities that in other sectors would be considered CSR are required by licence or legislation, together with much more detailed scrutiny and reporting. Originality/value The paper provides a review of existing literature on CSR in telecommunications, related to theories about CSR and the regulatory state.
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Budhathoki, Pragya, Bipana Sapkota, Raj Maharjan, Shrijana Bista, and Aakash Gosain. "Empowerment of diversity in the Nepalese corporate sector." Quest Journal of Management and Social Sciences 1, no. 1 (October 18, 2019): 96–118. http://dx.doi.org/10.3126/qjmss.v1i1.25976.
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Background: There are numerous policy developments undergoing addressing the issue of gender empowerment and social inclusion (GESI) in the corporate sector with an aim to socio-economic mainstreaming of the backward groups but the government programs and the national youth policy may still be lacking the effective implementation for addressing the needs, rights and aspirations of the overall backward people. The present researchers perceived strong need for closer assessment of effectiveness of the policy framework to promote diversity, especially in the corporate sector.
For this, the paper, as a whole, discusses within the broader framework of equality and inclusivity, the theme of women in corporate governance with particular reference to Nepalese corporate sector.
Objectives: This study was aimed to explore the present scenario of empowerment of diversity in the Nepalese corporate sector.
Methods: Fully based on desk research crafted on qualitative paradigms of study. Secondary data were used to collect the information on the issues, trends, matters relating to Gender equality and social inclusion (GESI) and youth empowerment.
Results: Effective compliance of corporate governance (CG) has played the significant role in promoting GESI and youth empowerment in the Nepalese corporate sector under changing context of the country and beyond.
Conclusions:As a result of multi-dimensional transformation of national structural system, there has been increasing sensitivity and application of GESI sensitive planning and implementation in the Nepalese corporate sector. Such a practice would serve instrumental in empowering women, youth and other marginalized sections of the society.
Implications: GESI compliance and youth empowerment in corporate and other service sectors should be made a part of national strategic direction at all levels of institutional governance and disciplining.
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Chhetri, Ram Bhandari. "Land Policy Instruments in Nepal." Journal of the Institute of Engineering 10, no. 1 (July 31, 2014): 69–79. http://dx.doi.org/10.3126/jie.v10i1.10880.
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Corporate mobilization can be made realistic if policy facilitation is provided by the government sector. This research study aimed at exploring the possibility of a mechanism that will attract substantial investments from the private sector by mobilizing the existing capital market. To do so, the research within its objective framework examined the essential policy framework from the literature review, the existing legal, financial and planning and housing policies posing impediments to the prospective participation of the corporate sector in land and housing activities. This included but not necessarily restricted to the land administration, land legislatives, cadastral mapping system and current planning techniques used and the operational constraints it would pose upon the prospective mobilization of the corporate financing in land and housing development. The research study then finally intended to arrive at the framework that could possibly facilitate or promote corporate finance in land and housing sector in a greater way. The finding from the research is then translated into a framework for increased participation for corporate sector in land and housing that chiefly included following aspects. DOI: http://dx.doi.org/10.3126/jie.v10i1.10880Journal of the Institute of Engineering, Vol. 10, No. 1, 2014, pp. 69–79
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Kuye, O. L., B. E. A. Oghojafor, and A. A. Sulaimon. "Planning flexibility and corporate entrepreneurship in the manufacturing sector in Nigeria." International Journal of Business Excellence 5, no. 4 (2012): 323. http://dx.doi.org/10.1504/ijbex.2012.047903.
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Amalia, Hadina Rizky, and Herry Yulistiyono. "Analisis Peran Sektor Basis dan Non Basis dalam Penyerapan Tenaga Kerja di Kabupaten Gresik." Jurnal Ilmiah Aset 22, no. 2 (December 1, 2020): 103–15. http://dx.doi.org/10.37470/1.22.2.166.
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This research aims to identify base and non-base sectors and analyze the absorption of labor in the base and non-base sectors in Gresik Regency as informationand consideration in economic development planning. This research is a descriptive quantitative study using secondary data of PDRB variables and labor and its components in Gresik Regency. The analytical methods used in this study are LQ analysis, shiftshare analysis, MRP analysis and labor absorption analysis. The results of the LQ analysis show the processing industry sector, the mining and quarrying sectors and the electricity and gas procurement sector are the base sectors. The results of the shiftshare analysis show sectors where the average power growth is higher than overall economic growth are the agricultural sector, the provision of drinking accommodation, construction, trade, transportation and warehousing, information and communication, financial services, corporate services, education services and the healthcare sector. While the sectors whose average local competitiveness growth is higher than the competitiveness of the same sector in East Java Province are agriculture, electricity procurement, water procurement, construction, trade, information and communication, food and drink accommodation provision sector, corporate services sector, government administration, education services, health and other service sectors. The results of the MRP analysis also show that the electricity and gas procurement sector is the leading sector in terms of growth. From the analysis of labor elasticity, it is known that the average sector with the highest labor elasticity value in 2011-2015 is the base sector, namely the mining sector and the electricity and gas procurement sector and in 2016-2017 is the non-base sector, namely the transportation sector and financial institutions.
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Amalia, Fitri. "Determination of the Regional Economy Leading Sectors in Indonesia." Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan 15, no. 1 (June 1, 2014): 19. http://dx.doi.org/10.23917/jep.v15i1.117.
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Economic growth and its process are the main condition for the sustainability of the regional economic development. Because of the continuing population growth means economic needs also increase so that additional revenue required each year. This can be obtained by the increase in aggregate output (goods and services) or the Gross Regional Domestic Product (GRDP) each year. To carry out development with limited resources as a consequence should be focused to develop the sectors that provide great multiplier effect on other sectors or the whole economy. This research is focused to determine the regional leading sector of Bone Bolango as the information and considerations in planning economic development. Location Quotient (LQ) and Shift Share are tools of analysis. Location Quotient analysis indicates agriculture, manufacture, finance, leasing and corporate services are base sectors in the Bone Bolango district. Shift Share analysis indicates that the competitive sectors are finance, leasing and corporate services. The results of the analysis based on three analysis tools indicate that the leading sector with the criteria developed, base, and competitive is finance and services sector.
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Sumantri, Indra Iman, and Intan Ayu Andini. "PENGARUH CORPORATE SOCIAL RESPONSIBILITY DAN PERENCANAAN PAJAK TERHADAP NILAI PERUSAHAAN." JURNAL AKUNTANSI BARELANG 4, no. 1 (November 30, 2019): 50. http://dx.doi.org/10.33884/jab.v4i1.1552.
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This study aims to determine and provide empirical evidence about the influence of Corporate Social Responsibility and Tax Planning on Company Value in agricultural sector manufacturing companies listed on the Indonesia Stock Exchange in the period 2014-2017. The number of samples used in this study are agricultural sector manufacturing companies listed on the Indonesia Stock Exchange (BEI) and published a complete financial report in 2014-2017 with 18 sample companies obtained using the purposive sampling method. The independent variable of this study is Corporate Social Responsibility measured by calculating the index according to GRI4, Tax Planning which is measured by calculating the effective tax rate, and company value measured by calculating the book price.
The results of the study were based on a hypothesis test with a significant level of 5%, the results of this study concluded: Corporate Social Responsibility does not affect the value of the company. Tax planning affects the value of the company. Immediately (together) the variable Corporate Social Responsibility and Tax Planning have a significant effect on Company Value.
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Henderson, Judy. "Dissonance or dialogue: Changing relations with the corporate sector." Development in Practice 10, no. 3-4 (August 2000): 371–76. http://dx.doi.org/10.1080/09614520050116523.
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Akhmedov, Khasan. "Financial Planning and Corporate Development: Attitude Analysis of Selected Enterprises in Uzbekistan." INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE AND BUSINESS ADMINISTRATION 3, no. 6 (2017): 38–42. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.36.1005.
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Financial planning has become an integral part of corporate development strategy in businesses in developed and emerging economies. Despite the rapid spread of advanced business practices, enterprises in transition and developing economies still have been lagging behind in absorbing some elements of modern business conduct skills and methods. This weakness is visible in corporate planning and forecasting practices. Although key elements of the market economy have already been introduced and a business environment is functioning favorably, enterprises in transition economies of the post-Soviet area are facing difficulties in applying and adapting changeable and regularly updating economic climate due to changing business psychology in the society and ongoing gradual structural reforms. Entrepreneurs and finance officers possess basic knowledge and understanding of income-cost and input-output planning. But corporate and business expansion planning, forecasting and risk analysis skills are out of their capabilities when it comes to applying in decision-making processes. It should be admitted that people’s business mind changed significantly and nowadays business sector is a backbone of any post-communist or transition economy. However, it does not suffice to run the business, to stay active in the market and to keep the stable financial structure. In this paper, we examined the attitudes of decision-makers of 24 enterprises in Uzbekistan towards financial planning and its possible benefits for enterprises they are running. The Likert scale-based survey showed that attitudes towards the financial planning are positive since its effect on corporate policy matters is treated comparatively less favorable.
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Gelrud, Ya D., O. A. Klimenko, and M. V. Shishkin. "Developing the Corporate Standards on Planning Projects in Real Estate and Construction Sector." Bulletin of the South Ural State University. Ser. Computer Technologies, Automatic Control & Radioelectronics 16, no. 2 (2016): 145–49. http://dx.doi.org/10.14529/ctcr160216.
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Murphy, Sophia. "Globalization and Corporate Concentration in the Food and Agriculture Sector." Development 51, no. 4 (December 2008): 527–33. http://dx.doi.org/10.1057/dev.2008.57.
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Ананьев, Александр, and Aleksandr Ananev. "The Development of Human Resource Planning in the Tourism Business Sector." Servis Plus 7, no. 4 (December 11, 2013): 31–38. http://dx.doi.org/10.12737/1694.
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The article studies the current ways of introducing elements of human resource planning into tourism and service enterprise development strategies. The author considers the specifics and peculiarities of the tourism and service business and identifies the major lines of application as well as the workability of corporate and HRplanning in reference to small- and medium-sized enterprises operating in the focus areas. Special stress is laid on the contribution ofmarketing research, pursuing prospective lines of tourism and service enterprise development and introducing elements of HRplanning to delivering the targeted results. The author regards the basic stages and methods of personnel planning as employed by tourism and service enterprises in terms of occupation, skill and qualification.
The article may serve the scientific, special and teaching purposes of those studying the problem of HR planning in the context of tourism and service business.
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Embuldeniya, Don K. "Economic reforms and the corporate sector in Sri Lanka." Contemporary South Asia 9, no. 2 (July 2000): 165–79. http://dx.doi.org/10.1080/713658730.
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Moyo, Theresa, and Shannon Rohan. "Corporate citizenship in the context of the financial services sector: what lessons from the Financial Sector Charter?" Development Southern Africa 23, no. 2 (June 2006): 289–303. http://dx.doi.org/10.1080/03768350600707744.
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Vikash. "Corporate Social Responsibility in Tourism Sector: A Review of Literature." Think India 22, no. 3 (September 20, 2019): 697–704. http://dx.doi.org/10.26643/think-india.v22i3.8389.
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The fact is that in the last decade India has seen a very significant growth in the tourism and hospitality sector. Likewise Corporate Social Responsibility (CSR) related articles have been written and published in the recent years on a large scale. This paper explores how CSR has developed within the extant literature. This emerging research on CSR in the context of tourism and hospitality is pushing past the boundaries of early approaches to corporate sustainability by providing empirical evidence is to support the importance of integrating a range of stakeholder perspectives and needs throughout the planning, implementation, and evaluation of CSR initiatives. Moreover, we observe that while there is ample research on certain stakeholder groups such as management, employees, shareholders, and consumers, there is less emphasis on the role of communities and ecosystems as stakeholders and very little related to suppliers, NGOs, and government. Although tourism and hospitality firms may not be subject to the same pressures as other industries, there remain important opportunities to both document and engage these external stakeholders in the journey towards sustainability for a long time in the country.
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Gehringer, Theresa. "Corporate Foundations as Partnership Brokers in Supporting the United Nations’ Sustainable Development Goals (SDGs)." Sustainability 12, no. 18 (September 22, 2020): 7820. http://dx.doi.org/10.3390/su12187820.
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Rather than limiting themselves to acting as mere financial intermediaries of corporate philanthropic funds, corporate foundations (CFs) may contribute to the achievement of the Sustainable Development Goals (SDGs) as partnership brokers. Based on the literature on the SDGs, cross-sector partnerships, the influence of the private sector on the SDGs, and institutional philanthropic involvement in the SDGs, this paper shows how the unique characteristics of CFs and their position between the business sector and civil society make them ideal partnership brokers in cross-sector collaborations. Furthermore, this study examines how CFs approach the Agenda 2030 with respect to their activities and strategies. Following an explorative research approach, data were collected through an online survey among CF managers in Switzerland, Liechtenstein, and Germany. The findings suggest that, in order to contribute more effectively to the SDGs, CFs should make more and better use of their capacities in bridging institutional logics, pooling resources, and initiating partnerships between different sectors.
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Masegare, Peter, and Mpho Ngoepe. "A framework for incorporating implementation indicators of corporate governance for municipalities in South Africa." Corporate Governance: The International Journal of Business in Society 18, no. 4 (August 6, 2018): 581–93. http://dx.doi.org/10.1108/cg-11-2016-0216.
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Purpose This paper aims to develop a framework for incorporating implementation indicators of corporate governance for municipalities in South Africa. In South Africa, there is a corporate governance framework (King III report) that is regarded as a seminal work applicable to both the public and private sectors. Despite its existence, municipalities still struggle to provide services to the citizens due to poor implementation. The poor corporate governance implementation in municipalities led to several issues such as loss of credibility for local government, little interests from investors to invest in municipalities, service delivery protests from communities, maladministration and unexpected change of leadership in municipalities without succession planning in South Africa. Design/methodology/approach The study conducted literature review to demonstrate the need for a framework to implement corporate governance in South Africa. Findings It is evident from the study that the municipal sector could improve its performance and practices of corporate governance, if the underpinning framework is adopted and implemented as a sector framework. The integration of governance elements during the development of the municipal sector integrated development plan (IDP) will facilitate a coherent base for good governance implementation practices. Research limitations/implications This research would go a long way in bringing out the anomalies that paralyse municipalities, the root causes of inefficiency and possible ways to rectify them. Practical implications This study offers a framework that can help the local government sector to improve on service delivery. Implementation of the framework can also assist municipalities in obtaining clean audits from the supreme audit institutions in their respective countries. Social implications The study has a huge social impact as it would help municipal officials take notice of the issues raised and act accordingly thus improving the life of citizenry. Originality/value This study adds value to the existing theoretical and conceptual issues that form the ongoing discourse on the implementation of corporate governance in local government, especially in South Africa, as the country is characteristic by corruption and maladministration.
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Patil, RH. "Raising Funds from the Capital Market: Challenges for the Private Sector." Vikalpa: The Journal for Decision Makers 11, no. 1 (January 1986): 5–12. http://dx.doi.org/10.1177/0256090919860102.
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In this Perspectives piece, R H Patil, a specialist on capital markets and stock exchanges, analyses the challenging task before the private corporate sector in raising funds from the capital market to meet the investment targets envisaged in the Seventh Plan. Author of several articles on capital markets and finance, R H Patil is General Manager (Research & Planning], Industrial Development Bank of India, Bombay.
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Vidal, N. G., and R. A. Kozak. "The recent evolution of corporate responsibility practices in the forestry sector." International Forestry Review 10, no. 1 (May 2008): 1–13. http://dx.doi.org/10.1505/ifor.10.1.1.
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Acri, Antonio. "THE VARIABLES TO BE ANALYZED IN STRATEGIC PLANNING FOR HOTEL FACILITIES." JBFEM 2, no. 1 (March 5, 2019): 9–14. http://dx.doi.org/10.32770/jbfem.vol29-14.
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The purpose of this study is to describe strategic planning and different variables, from a management point of view, discussions with hotel facilities in the large tourism sector. The tourism industry is in constant change in recent changes, both in terms of the elements that characterize supply and demand, both in terms of strategy and corporate control. Strategic planning is needed to achieve predetermined goals and succeed throughout the organization system.
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Parry, Bruce. "On Global Corporate Control: Review of an Article." Perspectives on Global Development and Technology 19, no. 1-2 (March 30, 2020): 45–51. http://dx.doi.org/10.1163/15691497-12341539.
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Abstract This article reviews “The network of global corporate control” by Vitali et al. (2011) where the authors use modern network theory to analyze the centralization of global corporate control. Specifically, they calculate how a central core of transnational corporations (TNCs) have control over the total operating revenue of all transnational corporations. They find that out of 43,060 transnational corporations, 737 top shareholders control about 80 percent of the value of all TNCs. This control is centralized in the financial sector and extends to other sectors of the economy, including manufacturing and services. TNCs are more global than ever before. They are in virtually every country of the world and comprise a world capitalist system.
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Moneva, José M., María Jesús Bonilla-Priego, and Eduardo Ortas. "Corporate social responsibility and organisational performance in the tourism sector." Journal of Sustainable Tourism 28, no. 6 (December 27, 2019): 853–72. http://dx.doi.org/10.1080/09669582.2019.1707838.
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Gupta, Ananda Das. "Human Resource Strategies for Operational Planning: Case Study of Tea Plantation Workers in India." Journal of Operations and Strategic Planning 1, no. 1 (May 31, 2018): 104–28. http://dx.doi.org/10.1177/2516600x18774197.
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The concept of sustainability comes from considering the context of the organization. Leadership sustainability is not just what the leader does but how others are impacted by the leader’s actions. We judge ourselves by our intentions, but others judge us by our behaviors. It is imperative that the human resource development (HRD) perspectives along with human rights initiatives (HRI) in the plantation sector are of utmost importance in the direction of workers’ participation in management, their promotional scopes, the welfare measures, and the fatigue study to enhancing productivity. The role of government and the positive attitude of corporate sector are to be initiated in tandem for ushering their sector into a new dimension, which is but compulsory and nevertheless challenging.
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Amedzro St-Hilaire, Walter. "The strategic impact of performance appraisal on corporate governance dynamics." Journal of Management Development 38, no. 5 (June 10, 2019): 357–68. http://dx.doi.org/10.1108/jmd-12-2017-0407.
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Purpose The purpose of this paper is to examine the strategic impacts of performance appraisal on the corporate governance dynamics (in the private sector) in addition to the advanced assumptions which traditionally explain the declining tendency related to the board of governance's evaluation. Design/methodology/approach A quantitative analysis by regression approach was mobilized for the needs of this technical and conceptual paper. In order to proceed, the author use a model of workforce determination which examines the influence of appointments, the termination of functions, the solid mechanisms of evaluation and strategies of control. Findings The results' degree proved itself to be slightly higher and consequently, the influence of management evaluation was significant. As expected, the planning mainly reflected, in a unique way, a large and growing proportion of new appointments. Originality/value The objective of the paper is to validate the impacts of business management evaluation on the dynamics of the governance workforce in the private sector. This has never been done in any empirical study before. The approach allows to present an original conception of the influence model of evaluation and the planning evaluation relationship factors.
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Nishat, Muhammad. "The Systematic Risk and Leverage Effect in the Corporate Sector of Pakistan." Pakistan Development Review 39, no. 4II (December 1, 2000): 951–62. http://dx.doi.org/10.30541/v39i4iipp.951-962.
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Poor corporate financing policies, non-competitive role of institutional development, a tendency towards the underpricing of initial offering resulted in high levered stocks in Karachi stock market (KSE). The KSE is termed as high risk high return emerging market where investors seek high risk premium Nishat (1999). The leverage is the most important factor which determines the firms risk premium [Zimmer (1990)]. Hamada (1969) and Bowman (1979) have demonstrated the theoretical relationship between leverage and systematic risk. Systematic risk of the leverage firm is equal to the without leverage systematic risk of the firm times one plus the leverage ratio (debt equity). Bowman (1979) established that systematic risk is directly related to leverage and the accounting beta (covariability of a firms’ accounting earnings with the accounting earnings of the market portfolio). One explanation of time-varying stock volatility is that leverage changes as the relative price of stocks and bonds change. Schwert (1989) demonstrated how a change in the leverage of the firm causes a change in the volatility of stock returns. Haugen and Wichern (1975) analysed the relationship between leverage and relative stability of stock value based on actuarial science1 and found that the duration of the debt is an important attribute in assessing the effect of leverage on stock volatility. If the leverage is persistent, or changing over time due to the issuance of additional debt, or if the firms are trying to return back the debt, this will change the risk of holding common stock. Kane, Marcus, and McDonald (1985) argued that a well defined metric for the advantage of debt financing is the difference in rates of return earned by optimally levered and unlevered firms, net of a return premium to compensate for potential bankruptcy costs.
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Muntean, Neli, Iulian Muntean, and Gabriela Valuta. "THE PROBLEM OF THE BANKRUPTCY CONCEPT DEFINITION IN THE CORPORATE SECTOR." Journal of Social Sciences 4, no. 3 (September 2021): 115–23. http://dx.doi.org/10.52326/jss.utm.2021.4(3).12.
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The issue of the bankruptcy notion definition has a major importance in the context of the management practice and theory, internal planning and control of the company. The objectives of the article are to analyse the theoretical principles, highlight and systematize the most successful meanings and definitions related to the term of "bankruptcy", interpreting the economic content of such a category as "bankruptcy in the corporate sector". For this purpose, the method of analysis of the scientific literature was applied. The publications chosen as the research base were mainly selected from the Google Scholar and ResearchGate databases between 2016 and 2020. This study is one of the few researches that involves the analysis of the legal framework especially in the countries of the former Eastern bloc. The results show that the terms that are often used in the bankruptcy literature are: failure, insolvency and bankruptcy. These terms are sometimes used interchangeably, although formally each of them can be defined in a different way. At the same time, following the lexicographical analysis of the concept of bankruptcy in the sustainable development of a company, the authors proposed to visualize the correlation between bankruptcy, financial stability and sustainable development in the corporate sector.
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Hall, Sarah. "‘Relational Marketplaces’ and the Rise of Boutiques in London's Corporate Finance Industry." Environment and Planning A: Economy and Space 39, no. 8 (August 2007): 1838–54. http://dx.doi.org/10.1068/a38233.
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In this paper I examine the rise of corporate finance boutiques in London's financial district from the early 2000s onwards. These small firms, typically employing no more than 25 people, specialise in a single corporate finance client sector (such as telecommunications or the media). It is argued that the growth of these boutiques is best understood with reference to the changing circumstances faced by London's established investment banks. Boutiques grew both in number and in size whilst well-known investment banking brands suffered significant decreases in profit margins, and redundancies were made across the financial services sector more widely. Two related theoretical perspectives are deployed to understand the growth of corporate finance boutiques in London within a ‘relational marketplace’. First, the concept of a marketplace is developed by spatialising recent work in new economic sociology on markets. Second, a relational perspective is used to conceptualise the coconstitutive networks that exist between corporate finance boutiques and investment banks within this marketplace.
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Fonseca, Ana Paula, and Sandro Carnicelli. "Corporate Social Responsibility and Sustainability in a Hospitality Family Business." Sustainability 13, no. 13 (June 24, 2021): 7091. http://dx.doi.org/10.3390/su13137091.
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The triple bottom line of sustainability has been the foundation to assess the overall performance of organizations in the hospitality sector. Family businesses are operating in a very competitive environment, and their practices are heavily scrutinised by stakeholders. This paper considers the value of action research in the field of family businesses in the hospitality sector through the prism of organizational learning. The focus of the research is to understand how a Scottish family business learns and implements corporate social responsibility and sustainability practices and how they embed the practices in their activities in a bed and breakfast. The family business used in this research is based in Paisley, Scotland. The use of action research enabled this research to follow a recurring spiral learning process of diagnosing, planning, acting, and evaluating to achieve organizational learning. The action learning contributed to re-thinking the communication between actors involved in the Scottish hospitality sector and family businesses to open a dialogue and produce norms and to contribute to knowledge about a new small-business social responsibility orbital framework.
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Javed, Attiya Y., and Robina Iqbal. "Corporate Governance and Firm Performance: Evidence from Karachi Stock Exchange." Pakistan Development Review 45, no. 4II (December 1, 2006): 947–64. http://dx.doi.org/10.30541/v45i4iipp.947-964.
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In the developed markets the subject of corporate governance is well explored as a significant focus of economics and finance research but there is also a growing interest across emerging markets in this area. In Pakistan, the publication of the SECP Corporate Governance Code 2002 for publicly listed companies has made it an important area of research of corporate sector. According to La Porta, et al. (2000) ‘Corporate governance is to a certain extent a set of mechanisms through which outside investors protect themselves against expropriation by the insiders’. They define the insider as both managers and controlling shareholders A corporate governance system is comprised of a wide range of practices and institutions, from accounting standards and laws concerning financial disclosure, to executive compensation, to size and composition of corporate boards. A corporate governance system defines who owns the firm, and dictates the rules by which economic returns are distributed among shareholders, employees, managers, and other stakeholders. As such, a county's corporate governance regime has deep implications for firm organisation, employment systems, trading relationships, and capital markets. Thus, changes in Pakistani system of corporate governance are likely to have important consequences for the structure and conduct of country business.
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Vikaliana, Resista. "ANALISIS IDENTIFIKASI SEKTOR PEREKONOMIAN SEBAGAI SEKTOR BASIS DAN SEKTOR POTENSIAL DI KOTA BOGOR." Transparansi Jurnal Ilmiah Ilmu Administrasi 9, no. 2 (February 12, 2018): 198–208. http://dx.doi.org/10.31334/trans.v9i2.24.
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This study aims to determine the sectors that become the basis sector and non-base in the city of Bogor, then to know the performance of each sector in the city of Bogor, and to know the sector that became a potential sector in the city of Bogor. The research was conducted by using Location Quotient / LQ method. In the city of Bogor, from the period of 2011 to 2015 there is one sector of the highest base of electricity and gas procurement sector. Of the 16 economic sectors, the economic sector including the basic sector in 2011 is the procurement of electricity and gas, the transportation and warehousing sectors, the financial services sector and insurance and other services sectors. In addition to these four sectors in 2011, in 2012-2015, it increased by 7 sectors, to 11. The additional sectors were water supply, waste management, waste, construction, and large and retail trade sectors; car and motorcycle repair, accommodation, food and beverage sector, information and communications sector, corporate services sector, health services sector and social activities. then that included in the non-base sector is the other five sectors.In the city of Bogor the performance of the economic sector can be explained that the sector that has the average value of Regional Growth (PR) is the highest sector of procurement of electricity and gas. This value indicates that the growth of electricity and gas procurement sector in Bogor City is higher than that of Indonesia. In Bogor City from 2011 to 2015 included in the potential sector is sector. Then from these sectors, the most potential sector or the most potential sector is the electricity and gas procurement sector.From the results of research that has been obtained by researchers, the researchers provide suggestions that must be taken are as follows: First, the base sector should be more maintained and developed again without exclude development against other sectors. The electricity and gas procurement sector that contributes to the GRDP should be developed by industrializing in cooperation with investors, so that the contribution from the gas and electricity procurement sector can increase again. Second, planning in development should be given to sectors that have the potential to be developed as a top priority so that development can be carried out more optimally.
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Gould, Anthony Morven, and Guillaume Desjardins. "Smart for whom? Cost ambiguity as corporate strategy in the 21st century telco sector." info 17, no. 2 (March 9, 2015): 59–79. http://dx.doi.org/10.1108/info-08-2014-0035.
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Purpose – This paper aims to expose techniques that telco vendors use for maximising revenue from their clients. Although the five-point strategy unearthed was based on the Canadian telco industry, it is interpreted as generic to the digital-age. Design/methodology/approach – Findings are based on focus groups with telco vendors and client perception data. Inductive reasoning is used to generalise findings to other distinctively digital-age industries. Findings – This paper finds five generic techniques that are used within the Canadian telecommunications (telco) industry to ensure that customers cannot control the cost of a smartphone. These techniques are described as an array of telco hybrid offerings, each with its own cost-structure and pricing strategy; the underestimation problem; devices are not geostationary; third-party agreements; and death-by-a-thousand-qualifications. Research limitations/implications – The research develops theory about modularity and platform technologies. Practical implications – Findings and insights have implications for strengthening consumer protection arrangements in the teleco industry, as well as other distinctively digital-age industries. Originality/value – This paper elaborates theory (particularly with respect to platform technologies and modularity). It interprets the flexibility that comes with modern technology as having a specific downside for consumers, namely, the removal of their capacity to control cost. As far as the authors have been able to ascertain, such an interpretation has not hitherto been presented. It is hoped that the classification of findings will become something of a public policy template for ensuring consumer protection.
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Wrigley, Neil, Julia Branson, Andrew Murdock, and Graham Clarke. "Extending the Competition Commission's Findings on Entry and Exit of Small Stores in British High Streets: Implications for Competition and Planning Policy." Environment and Planning A: Economy and Space 41, no. 9 (January 1, 2009): 2063–85. http://dx.doi.org/10.1068/a41326.
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The Competition Commission's analysis in 2007 of entry and exit conditions among small stores across more than one thousand British high streets provided a landmark piece of research on a topic in which debate and policy recommendations had moved significantly, and arguably dangerously, ahead of the available evidence base. Within a general context of a continuing long-term decline of specialist small stores in British town centres and high streets, it cast considerable doubt on the popularly held view that a broad-based decline of the independent convenience store sector was taking place across the UK, or that Britain's high streets were experiencing an accelerating decline in their small and specialist stores. Additionally, and even more controversially, the Commission's analysis was able to demonstrate that competitive entry by larger format corporate food retailing was not inevitably and uniformly associated with negative impacts on the small store sector. It is known that the Commission's research was paralleled by an identical analysis conducted on behalf of one of the main parties to the Groceries Market Inquiry by the University of Southampton. The first component of the Southampton analysis, which both corroborated and extended the Commission's findings, is available in the public domain. This paper now presents the second component of the Southampton analysis, which similarly both corroborates but also extends the vitally important ‘conditional entry’ dimension of the Commission's research—focusing directly on the extent to which entry into the small store sector during the early to mid 2000s might have been constrained by, and exit from the sector accelerated by, the competitive impacts of larger format foodstore openings by the major corporate retailers. The paper shows: (a) that there is an important missing regional dimension within the Commission's analysis, and (b) that entry and exit into the small store sector in the UK during 2000–06 was constrained and/or accelerated by the competitive impacts of supermarket opening in a different fashion within ‘London and prospering southern England’ than elsewhere in the country. That is to say, in the region of the UK in which arguments about the threat of corporate retail to the diversity of the small store sector had often proved particularly heated, the Southampton analysis shows small shops in town centres and high streets to have been more robust to the competitive opening of larger format corporate foodstores than elsewhere in the UK. In that context, the paper suggests that the findings represent an ‘inconvenient truth’ which deserves consideration both in policy debate and in future processes of planning regulation reform. Discussion of the relevance of the findings in respect of the proposed changes to Planning Policy Statement 6 released for consultation by the Department for Communities and Local Government in July 2008 is presented.
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Musil, Thomas A. "Critical issues in corporate real estate." Journal of Corporate Real Estate 8, no. 3 (July 1, 2006): 151–62. http://dx.doi.org/10.1108/14630010610711766.
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PurposeCommunity impacts resulting from corporate facility new development, expansion, renovation, merger, consolidation, closure and disposition activities are under greater scrutiny by public officials, citizen, and special interest groups. The paper reports public sector views on municipal structure, most desired industries, community advantages, use of cost benefit studies and the methods used to evaluate development impacts.Design/methodology/approachThe research presented is based on a national survey of US economic development officials and their methods for measuring project impacts and determining public costs and benefits associated with economic development projects.FindingsThe research found that the public sector emphasized community advantages that were abstract and hard to measure in response to the corporate need for hard data on facility and development costs. About 30 percent of the public administrators surveyed never or rarely used any measures to determine community impacts associated with facility development. The most common impact measures used were individual experience, public meetings, tax impacts, amount of private investment, and local planning goals. Infrastructure costs, environmental quality issues, traffic and public services were the most important cost areas.Research limitations/implicationsEvery corporate real estate project has unique characteristics and accordingly, community impacts vary. This research presents an overview of the analysis methods used or not used by public development officials. The corporate decision maker must learn to recognize needs and opportunities for additional data collection that will make a case for facility project support.Practical implicationsUnderstanding the public sector impact analysis perspective is important because it enables corporate real estate decision makers to understand key issues, frame and present projects to citizens, identify research gaps and negotiate greater subsidies, and fair terms in development and performance agreements.Originality/valueSurprisingly, very little research exists in this area. The survey data indicate limited use of impact measures and methods. Future research into this area should investigate why impact analysis measures are not extensively used and how standard measures could be used to evaluate social, environmental and economic impacts.
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Lu, Jintao, Licheng Ren, Jiayuan Qiao, Siqin Yao, Wadim Strielkowski, and Justas Streimikis. "Corporate Social Responsibility and Corruption: Implications for the Sustainable Energy Sector." Sustainability 11, no. 15 (July 31, 2019): 4128. http://dx.doi.org/10.3390/su11154128.
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This paper focuses on the concept of Corporate Social Responsibility (CSR) and its relationship with sustainability. The authors investigate the linkages between CSR and sustainability at both enterprise and country levels. The main focus of this study is the energy sector due to its importance in terms of economic, environmental, and social impacts. There are some doubts as to whether a socially responsible business meets public welfare expectations and fosters the country’s social and economic development, as well as the successful achievement of sustainable development objectives. However, it becomes apparent that the development of corporate social responsibility in the energy sector faces a plethora of challenges. Corruption is one of the most important challenges of sustainable energy development. The study analyzes the main areas of CSR policies where energy companies are expected to make a positive contribution to sustainable energy development: mitigation of environmental impact, economic and social development, and good governance. The authors argue that the corruption risks represent a very important issue that is hampering sustainable energy development, and CSR can be applied to mitigate these risks in the energy sector. In addition, government policies might be necessary to create a favorable environment for corruption risk mitigation. The study analyzes the main tools of corporate social responsibility in the energy sector and addresses the impact of CSR on the sustainability of energy sector and corruption risk mitigation. The study analyzes a corruption risk mitigation model in the energy sector and provides recommendations for strengthening corporate social responsibility and mitigating corruption risk. Our results show that CSR can play a vital role in dealing with corruption in the energy sector at the enterprise level. It becomes apparent that anti-corruption standards represent the main supporting means for achieving other CSR goals and principles. Therefore, mitigation of corruption risks should become a priority for socially responsible companies that are operating in the energy sector.
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Kumaza, Alphonse, and Yuanqiong He. "The Role of a Policy in Strengthening Corporate Social Responsibility: An Empirical Study of the Mining Sector in Ghana." Journal of Sustainable Development 11, no. 3 (May 30, 2018): 176. http://dx.doi.org/10.5539/jsd.v11n3p176.
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The prohibition imposed on resource-rich nations by the Global North governments to legislate laws to control multi-national enterprises has hit a death nail in any attempt(s) to innovate corporate social responsibility. Consequently, a self-commitment strategy was recommended for adoption to guide business own activities. This strategy undermines business participation in effective social governance yet encourages externalisation of the corporate cost of production, leading to catastrophic ramifications for host communities. The paper, therefore, proposes a policy nuance, which is a novelty in the existing literature, to oversee social responsibility undertakings and brings on board the corporate body in the social development discourse. Meanwhile, an SPSS analysis shows a statistically significant p-value and a negative coefficient which indicates comparability between policy and corporate social responsibility resulting in an endorsement of the paper’s proposition. Conclusively, a policy distinction would ensure appropriate planning, realistic and objective target setting, and compensatory plus effective and efficient implementation of basic social amenities, while systematising and normalising social agenda in corporate management strategies. It would also inspire checks of multi-national enterprises’ commitments since benchmarks are established and visible for references. Expectedly, further study on an appropriate policy enforcement mechanism for social (and environmental) governance is recommended.
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Kavčáková, Michaela, and Kristína Kočišová. "Using Data Envelopment Analysis in Credit Risk Evaluation of ICT Companies." Agris on-line Papers in Economics and Informatics 12, no. 4 (December 30, 2020): 47–60. http://dx.doi.org/10.7160/aol.2020.120404.
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The aim of the paper is to explore possibilities of diagnosis corporate credit risk through DEA and design an appropriate model for diagnosis of credit risk, which can be used in different sectors of national economy (e.g. agricultural, service sector or industry and innovation sector). The model differs from the conventional application of DEA because of variables selection and construction of production-possibility frontier. We illustrate application of models on sample 110 randomly selected companies during the 2013-2017 period. The reason for choosing the ICT companies is the fact that this sector is considered to be driving force behind the growth of the economy. The data has been obtained from Finstat. The results are divided into identification of 3 zones of corporate financial health with a different stage of credit risk. They show that DEA achieves a satisfactory value of a correct classification into the relevant zone (financial health, grey, and financial distress zone), but also the relatively high error rate of the DEA in the identification of companies in financial distress.
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Nguyen, Thi Dieu Chi, Huu Nghi Phan, Hung Son Le, Thi Thuy Trang Nguyen, and Aleksandr Petrov. "CORPORATE GOVERNANCE AND BANK PERFORMANCE: A CASE OF VIETNAM BANKING SECTOR." Journal of Security and Sustainability Issues 10, no. 2 (December 28, 2020): 437–49. http://dx.doi.org/10.9770/jssi.2020.10.2(6).
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Martínez, Patricia, and Ignacio Rodríguez Del Bosque. "Analyzing Responsible Corporate Identity in the Hospitality Sector: A Case Study." Tourism Culture & Communication 14, no. 3 (December 1, 2014): 183–97. http://dx.doi.org/10.3727/109830415x14213698267398.
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Gallego-Sosa, Clara, Yakira Fernández-Torres, and Milagros Gutiérrez-Fernández. "Does Gender Diversity Affect the Environmental Performance of Banks?" Sustainability 12, no. 23 (December 5, 2020): 10172. http://dx.doi.org/10.3390/su122310172.
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Climate change is one of the greatest challenges facing humanity today. Therefore, all segments of society must act together to stop the deterioration of the planet and the depletion of its resources. The business sector must play an active role in acting responsibly toward the environment. Given the importance of this issue, major efforts have been made to analyze the environmental performance of the most polluting sectors. In contrast, other sectors that are also of great interest due to their contribution to sustainable development, such as the banking sector, have been overlooked. Notable factors conditioning performance include aspects of corporate governance such as gender diversity. However, the empirical evidence reveals a lack of consensus regarding the influence of women directors on corporate environmental performance. This background motivates the study of the commitment of the banking sector to reducing their environmental impact and the analysis the influence of board gender diversity on environmental performance. Data for the period 2009 to 2018 on 52 banks from the most polluting Western regions were studied using descriptive statistics and fixed effects econometric estimation to test the relationship between a selection of relevant variables. The key conclusions are that banks are committed to protecting the environment and that there are no significant differences between banks’ commitment to the planet on the basis of board gender diversity.
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Chen, Gang, James J. Zhang, and N. David Pifer. "Corporate Governance Structure, Financial Capability, and the R&D Intensity in Chinese Sports Sector: Evidence from Listed Sports Companies." Sustainability 11, no. 23 (November 30, 2019): 6810. http://dx.doi.org/10.3390/su11236810.
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Innovations are the foundation of an enterprise’s sustainable development, which is particularly important for sports firms in an evolving Chinese sport industrial environment. Analyzing publicly-listed sports firms on The New Third Board (NTB) in China, this study examined the influence of corporate financial capability and corporate governance structure on firms’ R&D intensity through a series of multiple regression models. Findings revealed that corporate financial capability is an important determinant of R&D intensity, and corporate governance structure has a small but meaningful effect on R&D intensity. Specifically, for Chinese sports firms, several financial capability indicators, such as return on equity, accounts receivable turnover, assets turnover, and profit growth rate, have positive relationships with R&D intensity; however, other financial capability indicators, such as leverage and cash flow, have negative relationships with R&D intensity. Limited evidence was found to support the notion that corporate governance significantly influences R&D intensity, although sports firms with good governance mechanisms are more likely to increase the positive effects of financial capabilities on R&D intensity while decreasing the negative effects. Discussions were centered on planning and executing R&D activities in sports companies.
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Hurd, H., C. Mason, and S. Pinch. "The Geography of Corporate Philanthropy in the United Kingdom." Environment and Planning C: Government and Policy 16, no. 1 (February 1998): 3–24. http://dx.doi.org/10.1068/c160003.
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The shift away from a state-dominated welfare state towards a pluralistic mix of diverse welfare agencies is placing a greater reliance upon the voluntary sector. The role of company support for the voluntary sector has become an issue of considerable significance in recent years, yet has been little analysed by geographers. Considerable variations are revealed in the geographical distribution of funds allocated by directly funded corporate charitable trusts to voluntary organisations in the United Kingdom; the patterns may be related to the sector of the companies that fund the trusts together with the location and nature of the charities receiving funds, The patterns suggest that the key element determining the geography of corporate philanthropy is the nature of the audience which the company is seeking to address through their donations policy. Manufacturing companies would appear to have stronger traditions of philanthropy being directed towards the communities where their production facilities are based, whereas service-based companies tend to disperse their donations more widely.
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Zainal, Rafidah, Ayub Md. Som, and Nafsiah Mohamed. "A Comparative Study on the Implementation of Corporate Integrity between Malaysian Public and Private Sectors Organization." Environment-Behaviour Proceedings Journal 5, SI1 (June 1, 2020): 263–67. http://dx.doi.org/10.21834/ebpj.v5isi1.2329.
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With regards to fighting corruption and promoting transparency in organization, agency integrity unit was established in 2013 in managing issues related to integrity. In addition, a Corporate Integrity Assessment Questionnaire (CIAQ) has been developed by the Malaysian Institute of Integrity in collaboration with several Malaysian academicians to measure the implementation of the integrity system in their organization. There were 173 respondents from Company A (public sector), and 220 respondents from Company B (private sector) and the findings showed that Company A has integrity level between 75% to 100% . In contrast, Company B integrity level is between 50% to 75%. Keywords: corporate integrity, public sector, private sector, statutory body. eISSN: 2398-4287 © 2020. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v5iSI1.2329
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Ahmed, Sarwar Uddin, Mohammad Abdullah, and Samiul Parvez Ahmed. "Linkage Between Corporate Social Performance And Stock Return: An Evidence From Financial Sector Of Bangladesh." Journal of Developing Areas 51, no. 2 (2017): 287–99. http://dx.doi.org/10.1353/jda.2017.0045.
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Brill, Frances. "Complexity and coordination in London’s Silvertown Quays: How real estate developers (re)centred themselves in the planning process." Environment and Planning A: Economy and Space 52, no. 2 (July 4, 2019): 362–82. http://dx.doi.org/10.1177/0308518x19860159.
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This paper contributes to existing research on the relational work of real estate developers to demonstrate how internal corporate complexities create opaqueness in governance settings and limit potential community engagement. This work is particularly pertinent at a time when there is renewed interest in the private sector, yet very little analysis that begins from the perspective of the developer. Drawing on the example of London’s Silvertown, this paper shows how the strategies of development organizations evident in existing research, including their work with the public sector, communities and experts, require multiple levels of internal coordination. I argue that because of these sub-centres of power, developers are able to maintain a more deeply entrenched centrality in urban governance.
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Pranugrahaning, Agnes, Jerome Denis Donovan, Cheree Topple, and Eryadi Kordi Masli. "Corporate Sustainability Assessments in the Information Communication Technology Sector in Malaysia." Sustainability 12, no. 21 (November 8, 2020): 9271. http://dx.doi.org/10.3390/su12219271.
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The United Nations’ 2030 Agenda has further propelled the need for the private sector to engage with sustainable development. Corporate sustainability research seeks to specifically address this; however, extant literature highlights a paucity of research on how this occurs. In this study, we utilise an emerging process that has been identified to support managers in addressing sustainability—the corporate sustainability assessment (CSA). Utilising an in-depth case study and qualitative data collection, this study highlights how CSAs are a systematic and comprehensive approach to guide managers in how they can address sustainability. This study empirically examines three distinct but interconnected aspects of the CSA including the sustainability governance system, measurement of sustainability performance and sustainability reporting. With scant empirical studies on both CSAs and multinational enterprises (MNEs) operating in emerging markets, this study provides unique insights into two key traits of MNEs to understand the interplay between home- and host-country contexts and the industrial sector the MNE is operating within.
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Muñoz, Rosa M., M. Valle Fernández, and Yolanda Salinero. "Sustainability, Corporate Social Responsibility, and Performance in the Spanish Wine Sector." Sustainability 13, no. 1 (December 22, 2020): 7. http://dx.doi.org/10.3390/su13010007.
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This paper analyzes the Corporate Social Responsibility (CSR) of a sample of wineries in Spain and its effect on the companies’ performance. We used a questionnaire created with a validated scale that includes environmental and social dimensions. The final sample was made up of 127 firms that participated in the National Wine Fair (FENAVIN) in 2019, and this was analyzed using a cluster analysis and means contrast to verify whether a CSR-performance relationship exists. The performance was measured using the average return on assets (ROA) for the prior three years. The results obtained do not support the general opinion that enterprises involved with CSR achieve better results. On the contrary, we found that wineries that are more environmentally responsible are the least profitable and that those with more socially responsible behavior do not have a significant CSR-performance relationship.
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Latapí, Mauricio, Lára Jóhannsdóttir, Brynhildur Davíðsdóttir, and Mette Morsing. "The Barriers to Corporate Social Responsibility in the Nordic Energy Sector." Sustainability 13, no. 9 (April 27, 2021): 4891. http://dx.doi.org/10.3390/su13094891.
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Nordic companies have been at the top of sustainable business rankings since the early 2010s. Some of them are energy companies that have adopted Corporate Social Responsibility to have a positive social impact and become carbon neutral. However, limited literature has analyzed the barriers that Nordic energy companies face while implementing Corporate Social Responsibility. This article aims to identify and categorize the barriers faced by Nordic energy companies. The research is based on empirical data obtained from interviews involving high-level managers from the largest suppliers of energy in the Nordic region. A model is developed, which identifies and categorizes seven barriers at the individual level, seven at the organizational level, and three at the institutional level of analysis. The findings suggest that barriers can be of a direct and indirect nature and can be found across the three levels of analysis. The main contributions of this article are: (1) it identifies and categorizes the barriers that Nordic energy companies face; (2) it defines the barriers as direct and indirect based on their interaction with the company; (3) it presents two models of the barriers and provides empirical evidence that complement the literature; and (4) it contributes to the literature by focusing on the Nordic countries, a region that has received limited attention by scholarly research.
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Hussain, Ijaz. "Growth and Financing Behaviour of Firms of Textile Industry in Pakistan: A Panel Data Analysis." Pakistan Development Review 50, no. 4II (December 1, 2011): 699–714. http://dx.doi.org/10.30541/v50i4iipp.699-714.
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High economic growth, extremely low nominal interest rate and negative real interest rate gave a boost to financial leverage (gearing ratio) of the textile sector to its peak in 2005. Firms are now are facing the consequence of high gearing. An explosion in their financing costs along with removal of textile quota from 2005 onwards and later on an acute energy crisis hampered their profitability and ability to repay their debt. This in turn contributed to non-performing loans which is now is likely to pose a big challenge for financial sector and push economy into another crisis. Most of the previous studies including a very few on capital structure of Pakistani firms focus on understanding only the firm specific determinants of financial leverage and completely ignore macroeconomic or institutional factors. Findings of this paper prove that all firm specific determinants including profitability and efficiency, firms‘ growth, risk and collateral excluding size significantly influence corporate financial leverage of textile industry in Pakistan. All macroeconomic variables including overall economic growth, equity market conditions and nominal cost of debt also have significant impact on corporate gearing. Negative sign with the composite measure of profitability and efficiency implies that banks are compelled to fund inefficient and unprofitable firms because demand for loans comes more from inefficient and unprofitable firms. Positive sign with growth and negative sign with risk is indicative of the fact that banks prefer to lend to growing rather than riskier firms. JEL classification: C13, C23, C51, L65, G10, G30 Keywords: Capital Structure Determinants, Corporate Financial Leverage, Corporate Gearing Ratio