In practice, people are not as rational as the supposed to be in the perfect market. They are irrational when they are making decisions. This phenomenon is also exist in listed companies. Managers who are the main decision makers are found to be overconfident. What is the impact of manager overconfidence on the value of the company? This paper uses the sample data of Chinese A-share listed companies from 2000 to 2017 to examine the research hypothesis, empirical results show that manager overconfidence has a significant negative impact on the enterprise value. Finally, based on the conclusion of the research on the effect of manager overconfidence on the value of the company, this paper puts forward the relevant policy suggestions for promoting the value of listed companies.
{"title":"Overconfidence, management and firm value","authors":"Cuifeng Wu, Kunyue Zhang","doi":"10.1145/3512676.3512692","DOIUrl":"https://doi.org/10.1145/3512676.3512692","url":null,"abstract":"In practice, people are not as rational as the supposed to be in the perfect market. They are irrational when they are making decisions. This phenomenon is also exist in listed companies. Managers who are the main decision makers are found to be overconfident. What is the impact of manager overconfidence on the value of the company? This paper uses the sample data of Chinese A-share listed companies from 2000 to 2017 to examine the research hypothesis, empirical results show that manager overconfidence has a significant negative impact on the enterprise value. Finally, based on the conclusion of the research on the effect of manager overconfidence on the value of the company, this paper puts forward the relevant policy suggestions for promoting the value of listed companies.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133483397","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Xiaogang Zhao, Siwei Dong, Yiwei Dang, Hai Shen, Hao Zhang, Genjian Li
It is difficult for consumers to make purchase decisions based on massive amount of online reviews. Therefore, a product selection method based on LDA topic model and stochastic dominance rules is proposed. The method first uses the LDA topic model to extract product attributes; secondly, sentiment analysis is applied to calculate the probability distribution and expectation matrix of different sentiment orientation; further, stochastic dominance rules and PROMETHEE-Ⅱ are used to calculate the ranking value of each product with different product attributes; finally, the best product is selected through the overall ranking value calculated by the entropy method. The feasibility and practicability of the method are illustrated by an example.
{"title":"A method for ranking products based on LDA topic model and stochastic dominance","authors":"Xiaogang Zhao, Siwei Dong, Yiwei Dang, Hai Shen, Hao Zhang, Genjian Li","doi":"10.1145/3512676.3512714","DOIUrl":"https://doi.org/10.1145/3512676.3512714","url":null,"abstract":"It is difficult for consumers to make purchase decisions based on massive amount of online reviews. Therefore, a product selection method based on LDA topic model and stochastic dominance rules is proposed. The method first uses the LDA topic model to extract product attributes; secondly, sentiment analysis is applied to calculate the probability distribution and expectation matrix of different sentiment orientation; further, stochastic dominance rules and PROMETHEE-Ⅱ are used to calculate the ranking value of each product with different product attributes; finally, the best product is selected through the overall ranking value calculated by the entropy method. The feasibility and practicability of the method are illustrated by an example.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128058583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A company's value is an important aspect to be maintained in the company. There will be more possible investors for the company if its value is high. The goal of this research is to look at the effect of business strategy, tax avoidance, and dividend policy on company value. Business strategy is one of the variables that investors consider when determining if a company is performing well. Tax avoidance is a risky business practice; thus, investors will be skeptical about the company and might choose not to invest in it. Dividend policy is one indication that the company is profitable; investors will want to invest in a profitable company. As a result, maintaining the company's value from a stakeholder standpoint is critical. The samples used are 29 manufacturing companies for 5 periods (2016-2020), so the total samples were 145 samples. The data used derives from the company's financial statements, which are available on the company's official website or the IDX website. The data were analyzed using panel data regression analysis. This study found that dividend policy has a positive effect on company value, meaning that the more profitable management's dividend policy is for investors, the company's value will increase because dividend distribution is considered as a return on investment and make investors feel more profitable. Finally, implications are discussed based on the findings.
{"title":"Analyzing The Effects of Business Strategy, Tax Avoidance, and Dividend Policy on Company Value: An Empirical Study","authors":"Levana Dhia Prawati, Sophiana Millenia, Thessalonica Kristianti","doi":"10.1145/3512676.3512696","DOIUrl":"https://doi.org/10.1145/3512676.3512696","url":null,"abstract":"A company's value is an important aspect to be maintained in the company. There will be more possible investors for the company if its value is high. The goal of this research is to look at the effect of business strategy, tax avoidance, and dividend policy on company value. Business strategy is one of the variables that investors consider when determining if a company is performing well. Tax avoidance is a risky business practice; thus, investors will be skeptical about the company and might choose not to invest in it. Dividend policy is one indication that the company is profitable; investors will want to invest in a profitable company. As a result, maintaining the company's value from a stakeholder standpoint is critical. The samples used are 29 manufacturing companies for 5 periods (2016-2020), so the total samples were 145 samples. The data used derives from the company's financial statements, which are available on the company's official website or the IDX website. The data were analyzed using panel data regression analysis. This study found that dividend policy has a positive effect on company value, meaning that the more profitable management's dividend policy is for investors, the company's value will increase because dividend distribution is considered as a return on investment and make investors feel more profitable. Finally, implications are discussed based on the findings.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126187686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Computer Applications are specially designed programmes that help users to perform particular tasks efficiently. The use of computer applications is crucial for businesses to cope up with the fast-moving global business world. On one hand, it has increased speed and accuracy, on the other hand, it has created problems such as unemployment, skill shortage and increasing operational expenses. Unemployment and skill shortage are serious problems in India where a large volume of people are poor and not literate even today. Such an issue is also increasing the hiring and retention cost for business firms. This research is exploratory research that tries to identify and define the impacts of computer applications on management and business. This initial study will open the door to the way various other research works.
{"title":"Role and its Impacts of Computer Application in Management and Business","authors":"Roshan Baa","doi":"10.1145/3512676.3512684","DOIUrl":"https://doi.org/10.1145/3512676.3512684","url":null,"abstract":"Computer Applications are specially designed programmes that help users to perform particular tasks efficiently. The use of computer applications is crucial for businesses to cope up with the fast-moving global business world. On one hand, it has increased speed and accuracy, on the other hand, it has created problems such as unemployment, skill shortage and increasing operational expenses. Unemployment and skill shortage are serious problems in India where a large volume of people are poor and not literate even today. Such an issue is also increasing the hiring and retention cost for business firms. This research is exploratory research that tries to identify and define the impacts of computer applications on management and business. This initial study will open the door to the way various other research works.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121530353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The financing constraint is becoming more and more obvious to the high-quality development of entrepreneurial enterprises, and how to solve this problem has become the focus of theoretical and practical research. Given this, this paper assesses the performance of science and technology finance policy on alleviating the financing constraints of entrepreneurial firms in the pilot regions using a quasi-natural experiment based on the data of GEM listed companies from 2009 to 2020 using the Difference-in-Difference(DID) method. The results show that : (1) The implementation of the policy significantly alleviates the financing constraints of entrepreneurial enterprises. (2) The policy effect of the science and technology finance policy increases significantly from the third year of implementation, indicating that there is a time lag effect of the policy on alleviating the financing constraints of entrepreneurial enterprises. (3) Science and technology finance policy can significantly alleviate the financing constraints of mature entrepreneurial enterprises, but the implementation effect on Startup in the growth stage is not obvious.
{"title":"Whether Science and Technology Finance Policy Ease Firms' Financing Constraints?: –Empirical Evidence from Chinese GEM Listed Companies","authors":"Qinyu Li, Jun Shen, Mengting He","doi":"10.1145/3512676.3512689","DOIUrl":"https://doi.org/10.1145/3512676.3512689","url":null,"abstract":"The financing constraint is becoming more and more obvious to the high-quality development of entrepreneurial enterprises, and how to solve this problem has become the focus of theoretical and practical research. Given this, this paper assesses the performance of science and technology finance policy on alleviating the financing constraints of entrepreneurial firms in the pilot regions using a quasi-natural experiment based on the data of GEM listed companies from 2009 to 2020 using the Difference-in-Difference(DID) method. The results show that : (1) The implementation of the policy significantly alleviates the financing constraints of entrepreneurial enterprises. (2) The policy effect of the science and technology finance policy increases significantly from the third year of implementation, indicating that there is a time lag effect of the policy on alleviating the financing constraints of entrepreneurial enterprises. (3) Science and technology finance policy can significantly alleviate the financing constraints of mature entrepreneurial enterprises, but the implementation effect on Startup in the growth stage is not obvious.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129134837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Taking into account the fairness concerns of manufacturers and retailers, this paper examines the omni-channel price and service strategy in BOPS mode, analyzes the effects of fairness concerns on price and service decisions and supply chain sales, and determines the results through simulations Analysis verified. The results show that fairness concerns from both manufacturers and retailers have a significant impact on pricing, service levels, and service remuneration. If the manufacturer's concerns about fairness increase, the manufacturer will lower the retail price and the retailer will reduce the level of service and the service compensation. If the retailer's concerns about fairness increase, the manufacturer will increase the retail price and the retailer will improve the level of service and service compensation. In addition, the manufacturer's profit increases as the proportion of online consumers increases, if the manufacturer's concerns about fairness are certain.
{"title":"Research on Pricing and Service Strategies Considering Fairness Concerns under BOPS Mode","authors":"Yuling Sun, Jinming Dai, Xueying Hu","doi":"10.1145/3512676.3512690","DOIUrl":"https://doi.org/10.1145/3512676.3512690","url":null,"abstract":"Taking into account the fairness concerns of manufacturers and retailers, this paper examines the omni-channel price and service strategy in BOPS mode, analyzes the effects of fairness concerns on price and service decisions and supply chain sales, and determines the results through simulations Analysis verified. The results show that fairness concerns from both manufacturers and retailers have a significant impact on pricing, service levels, and service remuneration. If the manufacturer's concerns about fairness increase, the manufacturer will lower the retail price and the retailer will reduce the level of service and the service compensation. If the retailer's concerns about fairness increase, the manufacturer will increase the retail price and the retailer will improve the level of service and service compensation. In addition, the manufacturer's profit increases as the proportion of online consumers increases, if the manufacturer's concerns about fairness are certain.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132740106","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With the development of middle and small-sized enterprises, more and more enterprises become listed companies in the capital market. However, there are many founders leave the companies after IPO and without any expectation. As the soul and representative of the enterprise, the abnormal departure of founder may have a deep influence on the enterprise performance. Based on the data of listed companies from 2009 to 2020 on GEM, this paper studies the influence of the phenomenon of founder departure on enterprise performance development. The results show that the abnormal departure of the company's founder will have a significant negative impact on the future performance of the company, while the normal departure will not have a significant negative impact on the subsequent performance of the company, and may even promote the development of the company's performance.
{"title":"Will theTurnover of Founder Influence the Performance of Listed Companies?","authors":"Cuifeng Wu, Ru Zhang","doi":"10.1145/3512676.3512695","DOIUrl":"https://doi.org/10.1145/3512676.3512695","url":null,"abstract":"With the development of middle and small-sized enterprises, more and more enterprises become listed companies in the capital market. However, there are many founders leave the companies after IPO and without any expectation. As the soul and representative of the enterprise, the abnormal departure of founder may have a deep influence on the enterprise performance. Based on the data of listed companies from 2009 to 2020 on GEM, this paper studies the influence of the phenomenon of founder departure on enterprise performance development. The results show that the abnormal departure of the company's founder will have a significant negative impact on the future performance of the company, while the normal departure will not have a significant negative impact on the subsequent performance of the company, and may even promote the development of the company's performance.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130426112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kentaroh Toyoda, Justin Lim Kim Moh, Nang Hsu Hlaing Mon, Alvin Soo
As each organization has different enterprise systems, securely sharing and managing data between organizations is not an easy task. Blockchain technologies are a powerful tool to enable this, and many blockchain-based data storing methods have been proposed. However, they often take a rather tailor-made approach, meaning that a blockchain system needs to be developed to a specific underlying enterprise system. To fill this gap, we propose a flexible, immutable, and interoperable data storage system with blockchain. We demonstrated our system with construction companies’ contracts and progressive claims use-case.
{"title":"Design and Implementation of Blockchain-enabled Immutable and Interoperable Data Management System for Enterprise Systems","authors":"Kentaroh Toyoda, Justin Lim Kim Moh, Nang Hsu Hlaing Mon, Alvin Soo","doi":"10.1145/3512676.3512678","DOIUrl":"https://doi.org/10.1145/3512676.3512678","url":null,"abstract":"As each organization has different enterprise systems, securely sharing and managing data between organizations is not an easy task. Blockchain technologies are a powerful tool to enable this, and many blockchain-based data storing methods have been proposed. However, they often take a rather tailor-made approach, meaning that a blockchain system needs to be developed to a specific underlying enterprise system. To fill this gap, we propose a flexible, immutable, and interoperable data storage system with blockchain. We demonstrated our system with construction companies’ contracts and progressive claims use-case.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133152409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Empirical estimates of the extent of the personal sharing of taxation amount on utility function and to describe the sacrifice level of different households in different income tiers. Those functional forms of the utility functions capture a better representation of the sacrifice level of tax for households. Progressive taxation whole burden aims to impose fairness and a healthy taxation policy scheme. Fairness measures from tax sacrifice levels, not from an absolute amount of tax sacrifice. By conducting a progressive taxation scheme, what kind of principle can help to trigger a fairer taxation system? In this study, we found that the negative exponential utility function could help in building a fairer income taxation scheme for most progressive-applied countries. Which is closer to the principle of equal sacrifice based on our research. This study contributes to the existing literature on the investigation of a progressive tax system across nations.
{"title":"Are Progressive Taxation Systems Fair? Evidence from current taxation schemes across major countries and areas","authors":"Zhongwen Chen, Xiaoyu Sun","doi":"10.1145/3512676.3512693","DOIUrl":"https://doi.org/10.1145/3512676.3512693","url":null,"abstract":"Empirical estimates of the extent of the personal sharing of taxation amount on utility function and to describe the sacrifice level of different households in different income tiers. Those functional forms of the utility functions capture a better representation of the sacrifice level of tax for households. Progressive taxation whole burden aims to impose fairness and a healthy taxation policy scheme. Fairness measures from tax sacrifice levels, not from an absolute amount of tax sacrifice. By conducting a progressive taxation scheme, what kind of principle can help to trigger a fairer taxation system? In this study, we found that the negative exponential utility function could help in building a fairer income taxation scheme for most progressive-applied countries. Which is closer to the principle of equal sacrifice based on our research. This study contributes to the existing literature on the investigation of a progressive tax system across nations.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129375514","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I. Triana, D. H. Syahchari, M. Herlina, H. Jordaan
A dry port is an inland region or intermodal facility that is linked directly to a seaport. Cikarang Dry Port, while being one of the best-performing dry ports in Indonesia, contributed just 18% of Tanjung Priok Port's loading and unloading volume. This research aims to determine the effect of supplier innovation and service stakeholder commitment on the performance of dry port businesses. The data was gathered through a questionnaire elicited 55 answers from Cikarang Dry port and marine logistics firms in Greater Jakarta. Multiple regression was used to test hypotheses. This research shows that Supplier Innovation and Stakeholder Commitment to Service have a beneficial effect on port company performance. This research inspires managers to identify the beneficial outcomes of Supplier Innovation amongst service stakeholder engagement organizations to enhance port performance throughout the port supply chain.
{"title":"Achieving Firm Performance through Supplier Innovation and Service Stakeholder Commitment","authors":"I. Triana, D. H. Syahchari, M. Herlina, H. Jordaan","doi":"10.1145/3512676.3512694","DOIUrl":"https://doi.org/10.1145/3512676.3512694","url":null,"abstract":"A dry port is an inland region or intermodal facility that is linked directly to a seaport. Cikarang Dry Port, while being one of the best-performing dry ports in Indonesia, contributed just 18% of Tanjung Priok Port's loading and unloading volume. This research aims to determine the effect of supplier innovation and service stakeholder commitment on the performance of dry port businesses. The data was gathered through a questionnaire elicited 55 answers from Cikarang Dry port and marine logistics firms in Greater Jakarta. Multiple regression was used to test hypotheses. This research shows that Supplier Innovation and Stakeholder Commitment to Service have a beneficial effect on port company performance. This research inspires managers to identify the beneficial outcomes of Supplier Innovation amongst service stakeholder engagement organizations to enhance port performance throughout the port supply chain.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132546062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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