Drivers of working capital efficiency in Indian hospitality sector

This research aims to obtain empirical evidence on the effect of company characteritics on risk management disclosure (RMD) from the annual reports of manufacturing companies. The sample consists of manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2010–2012. The total sample included 72 companies with three years observation and the examined firms reached 216. Results indicate that independent variables (firm size, profitability, leverage, public ownership, management ownership, and business complexity) have a significant effect on RMD. However, the hypotheses test with partial t-test indicate different results. Firm size (FS) and management ownership (MO) have significant effects, whereas leverage (LEV) has a negative and significant effect on RMD. Other variables, namely profitability (PRO), public ownership (PO), and business complexity (BC), have no significant effect on RMD.

In almost all emerging and developed nations, the insurance industry is one of the most important participants of the financial services sector. As a result, the goal of this study is to investigate the firm characteristics and drivers of financial performance using 121 publicly traded non-life insurance companies from 16 Southern African Development Community (SADC) countries during the period from 2008 to 2019. The consolidated least squares and two-step generalized method of moments estimators were used to analyze a panel data set of 1,452 observations. The findings show that a lagged return on assets, equity capital, operational efficiency, leverage and investment capability are statistically significant determinants of financial performance in non-life insurance companies of SADC countries, even though equity capital, operational efficiency, and leverage are inversely significant. The insurance industry, policymakers, the state, and shareholders should consider these important variables when making decisions, and enhance their performance according to the findings. It is also suggested that the industry’s capital structures should be reformed to preserve a favorable balance of equity and debt amongst the businesses. Additionally, measures such as automated systems that may decrease operating costs should be used to improve financial performance.

The factors of the insurance industry’s business performance are of concern to a variety of participants in any economy, such as the government, politicians, policyholders, and speculators. There has been very little research on this issue in Sub-Saharan Africa, with the majority focusing on specific factors that influence the performance of insurance businesses. The purpose of this paper was to evaluate the influence of leverage and liquidity on financial performance of general insurance companies in Sub-Saharan Africa. The study used descriptive correlational techniques to obtain panel data across 113 general insurers operating in Sub-Saharan Africa as of December 31, 2019, for 11 years (2008–2019). The pooled OLS, fixed effects and random effects models were estimated with the financial performance measures (proxied by ROA) as the dependent variables where the Hausman test was employed to test the hypothesis. The study found that there is a negative negligible link between leverage and financial performance, whereas there is a positive association between liquidity and financial performance. The study suggested that proper liquidity management is critical for insurance businesses to enhance a company’s value as well as financial success. The focus should be on establishing a proper asset-liability mix, in which a company’s total liabilities do not exceed its total assets. Furthermore, organizations require cash flow policy recommendations to optimize profit potential while limiting liquidity risk in the financial statement.