Evaluating the financial performance of companies from the perspective of fund procurement and application: New strategy cross efficiency network data envelopment analysis models

Liu, Haiyue; Zhang, Ruchuan; Li, Zhou; Li, Aijun

doi:10.1016/j.energy.2023.126739

Cited by 7 publications

(4 citation statements)

References 49 publications

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“…As revealed by the results, these expenditures together made positive contributions to improve the firms' financial performance significantly by over 20% (R 2 =0.243, with F=2.82 and p(F)=0.03). This disclosure corroborates the studies of Eksandy et al (2023), andLiu et al (2023) who found that good quality technology improves business growth and profitability. In addition, Heim et al (2019) revealed that integrated policy of research and development transformed wastes, such as gas flaring, to wealth and promoted cleaner environment.…”

Section: Discussion Of the Findingssupporting

confidence: 90%

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Financial Performance Implications of Corporate Sustainable Expenditures in Economic Capital: The case of Listed Manufacturing Firms in Nigeria

Orinya,

Kurfi,

Kofarmata

2024

FUJAFR

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Manufacturing firms’ financial performance is anchored on their respective capital expenditures. Extant studies have not conclusively agreed on the implications of respective capital expenditures on the firms’ financial performance. This study sought to contribute to the discourse by examining the implications of expenditures in economic capital on financial performance of listed manufacturing firms in Nigeria. The study is quantitative, combining descriptive and inferential approaches. A sample of 33 firms, with their annual reports from 2008 to 2022, was surveyed. Panel data from the firms’ annual reports were analysed using generalized least squares regression on STATA. Three hypotheses were tested. Results show that firms’ expenditures in economic capital do have important positive implications for financial performance of the manufacturing firms. Expenditures in research and development displayed the highest positive and significant effect, while expenditures in technological innovation and additions to fixed assets showed positive but insignificant effects on the firms’ financial performance. The a-priori expectation that all three components of sustainable expenditures on economic capitals have positive effects on the firms’ financial performance was met. The study concludes that sustainable expenditures in economic capitals are important for improving financial performance of firms. This suggests that listed manufacturing firms in Nigeria strengthen their policy commitment to consistently engage in research and developments, technological innovations and maintenance of a robust asset structure. The study recommends increased expenditures in technological innovation and fixed assets for the manufacturing firms, and suggests that further research seek to clarify the insignificant effects depicted by these expenditures.

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Section: Discussion Of the Findingssupporting

confidence: 90%

“…The financing choices of firms reflects their investments in sustainable economic capital as demonstrated by Liu et al, (2023). They applied network data envelopment analysis on data from clean energy companies from 2013 to 2021.…”

Section: Sustainable Expenditures On Fixed Assets and Firm Financial ...mentioning

confidence: 99%

Financial Performance Implications of Corporate Sustainable Expenditures in Economic Capital: The case of Listed Manufacturing Firms in Nigeria

Orinya,

Kurfi,

Kofarmata

2024

FUJAFR

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“…However, despite the importance of these strategies, there exists a gap in the existing research regarding their comprehensive impact on a firm's financial health. Previous studies have primarily focused on individual aspects of promotions or sales strategies, neglecting the holistic understanding of their combined effects (Chen et al, 2023;H. Liu et al, 2023).…”

Section: Literature Reviewmentioning

confidence: 99%

Business Finance Catalysts: Promotion, Sales, and Financial Management Tactics that Improve Company Financial Performance

Novita Rosanti

2023

ATESTASI

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This study explores the relationship of promotion and sales strategies with firm financial performance in a comprehensive context. Quantitative methods were used to collect and analyze data from 120 companies in Indonesia. Using a purposive sampling technique, 420 respondents completed a questionnaire highlighting promotional strategy, sales, and financial performance. Variables such as promotional expenditure, creativity, and market responsiveness were measured through statistical analysis, including multiple regression. The findings show that factors such as promotion fund allocation, campaign innovation, product price management, distribution, and customer service play an important role in a company's financial success. This study provides an in-depth understanding of the importance of promotion and sales strategies in achieving optimal financial performance.

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“…In recent conventions, a legally binding regime aimed at reducing emissions for all countries has been approved, indicating that in order to achieve the objectives of emission reduction, it is imperative for both developed and developing countries to establish robust policy frameworks (18). To effectively utilize emission reduction permits as a means to regulate pollution levels and align them with socially optimal standards, an exhaustive constraint has been imposed on the overall emission levels within a given region (19). This restriction enables the evaluation and allocation of permits to countries that have actively participated in the program.…”

Section: Introductionmentioning

confidence: 99%

Performance Evaluating Energy, Economic and Environmental Performance with an Integrated Approach of Data Envelopment Analysis and Game Theory

Mohammadzadeh,

Navabakhsh,

Hafezalkotob

2024

IJE

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This research has been carried out with the aim of evaluating the energy, economic and environmental performance of selected countries that export energy resources with the integrated approach of data envelopment analysis (DEA) and game theory. The methodology of this research, including superefficiency and cross-efficiency methods have also been used to rank efficient countries before the cooperation phase. Then, in the cooperation phase, each country is investigated using the method of cooperative games theory and Shapley's value. The resulting model was implemented and the rank of the efficient countries was compared with each other in the super-efficiency and cross-efficiency method (before cooperation) and the Shapley's value method (after cooperation). The results showed that Qatar and Yemen have the highest, Lebanon and Jordan the lowest energy efficiency; Kuwait, Qatar and Turkmenistan have the highest economic efficiency, Iran and Turkey have the lowest economic efficiency; UAE and Qatar have the highest, Iran and Jordan the lowest environmental efficiency.

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Evaluating the financial performance of companies from the perspective of fund procurement and application: New strategy cross efficiency network data envelopment analysis models

Cited by 7 publications

References 49 publications

Financial Performance Implications of Corporate Sustainable Expenditures in Economic Capital: The case of Listed Manufacturing Firms in Nigeria

Financial Performance Implications of Corporate Sustainable Expenditures in Economic Capital: The case of Listed Manufacturing Firms in Nigeria

Business Finance Catalysts: Promotion, Sales, and Financial Management Tactics that Improve Company Financial Performance

Performance Evaluating Energy, Economic and Environmental Performance with an Integrated Approach of Data Envelopment Analysis and Game Theory

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