Short-Selling and Financial Performance of SMEs in China: The Mediating Role of CSR Performance

Mai, Wenzhen; Hamid, Nik Intan Norhan Binti Abdul

doi:10.3390/ijfs9020022

Cited by 7 publications

(6 citation statements)

References 43 publications

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“…Otherwise, shortages are prominent as long as debtors default payments. Informed by these responses, the research supports the result of Mai and Hamid (2021) regarding the negative implications of cash flow volatility on family businesses' cash flows. The following quote is notable.…”

Section: "… I Can Say Both Cash Flow Volatility and Moralsupporting

confidence: 57%

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Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe

Dzingirai

Ndava²

2022

Binus Business Review

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Cash flow management has increasingly become a concept of interest in the context of small family-owned businesses in recent years. It is worth noting that the growth rate of family-owned businesses has continued to rise in recent years. The research aimed to explore the cash flow management challenges faced by small family-owned businesses in Zimbabwe. The research philosophy of constructivism was employed as it was more appropriate for explorative qualitative study. With the adoption of a qualitative approach, in-depth interviews and Focus Group Discussions (FGDs) were conducted. The research was conducted on 12 owners of small family businesses from diverse sectors of the economy. Then, thematic analysis was applied to analyze data from in-depth interviews and FGDs. The results show that small family-owned businesses face a myriad of cash flow management challenges. Those challenges are poor payables and receivables management, inadequate cash balances, lack of financial experts, absence of cash budgets, bad debts, cash instability, and Unhu/Ubuntu culture. The research outcomes have practical implications for financial institutions and governments when offering financial management capacity-building workshops. Interestingly, the management of family businesses can make evidence-based decisions related to cash management practices and cash operating cycles. The research can immensely enrich the extant mainstream literature on the family business.

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Section: "… I Can Say Both Cash Flow Volatility and Moralsupporting

confidence: 57%

“…It is why most family businesses in the Middle East are unwilling to invest funds from borrowings. They prefer intermingling finance since they can risk the family's assets more than those of the financial institutions with unfavorable conditions and high-interest rates (Mai & Hamid, 2021;PwC, 2021;Ward, 2020).…”

Section: Introductionmentioning

confidence: 99%

Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe

Dzingirai

Ndava²

2022

Binus Business Review

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“…Following the methods of Amore et al (2017), Xie et al (2019), and Mai and Hamid (2021), the research selected company size (Size), family control age (AGE), equity concentration degree (SHRZ), family founder age (FA), and family managers number (FN) as control variables. The reason for these selections is as follows: First, the size of the company will affect the judgment of Chinese investors on the value of the company in order to better measure the impact of the integration of ownership and control governance model on the value of the company.…”

Section: Control Variablesmentioning

confidence: 99%

The Influence of Family Governance on the Value of Chinese Family Businesses: Signal Transmission Effect of Financial Performance

Li¹

2022

Economies

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The phenomenon of family governance in Chinese family businesses may not only signal a high second-party agency cost that infringes on the interests of small and medium shareholders, but it may also signal this as a stable governance structure. Based on the theory of signal transmission, this paper studies the degree of influence of Chinese family governance on the corporate value of Chinese family businesses and the signaling role played by corporate financial performance in this process. This paper also analyzes a sample of Chinese A-share listed family businesses from 2011 to 2020. The results show that the family governance of Chinese family enterprises can promote the improvement of enterprise value, because operating capacity, solvency, profitability, and development capacity can improve the credibility of family governance signals.

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“…The SME sector constitutes more than 90% of the total number of businesses and the contribution of this sector to the country's Grand Domestic Product (GDP) is more than 60% [84]. Despite the fact that the SME sector is a significant economic contributor to the country, it is also important to note that this sector is also attributed to the widespread industrial pollution in the country.…”

Section: Sample and Populationmentioning

confidence: 99%

An Examination to Explain the Mechanism of Employees’ Environment-Specific Behavior through CSR and Work Engagement from the Perspective of Stewardship Theory

Wei

Sial

Comite

et al. 2021

IJERPH

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Corporate social responsibility (CSR) has emerged as an imperative for every sector globally. Yet, for a long time, the concept of CSR has been regarded from an organizational perspective. However, the importance of CSR in shaping the extra-role behavior of employees, such as their pro-environmental behavior (PEB-E), has been under-explored in the literature. Against this backdrop, the current study aims to investigate the impact of CSR on PEB-E with the mediating effect of work engagement (W.E) in the context of a emerging country. The study also employs stewardship theory as an alternate theory to explain the proposed relationships. The data of the current study were obtained from SME sector through a self-administered (paper-and-pencil method) questionnaire. A random sample of employees (n = 398) from different SMEs was selected and analyzed through structural equation modeling. The results of the current survey revealed that CSR directly and indirectly, via W.E, predicts PEB-E positively. The findings of the current study will be helpful for policymakers to understand that well-planned CSR activities, not only create positive repute for an SME, but also provide the underlying justification to its employees to be engaged in different environment-specific behaviors.

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Short-Selling and Financial Performance of SMEs in China: The Mediating Role of CSR Performance

Cited by 7 publications

References 43 publications

Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe

Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe

The Influence of Family Governance on the Value of Chinese Family Businesses: Signal Transmission Effect of Financial Performance

An Examination to Explain the Mechanism of Employees’ Environment-Specific Behavior through CSR and Work Engagement from the Perspective of Stewardship Theory

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