Generolo Jono Žemaičio Lietuvos karo akademija

Sustainability of financial performance of a giant media firm such as Facebook wil be dependepent on various factors such as Lending rate, turnover ratio, current ratio, etc. Facebook has achievements in online social media and network industry, deserving of its position as one of the leading firms in the online social media system, contributing to online marketing services. Movement of stock price of Facebook will reflect the business health of the company. Good business management requires us to consider the impacts of multi micro and macro factors on net profit, and it contributes to promoting business plan and socio-economic policies for economic growth and stabilizing macroeconomic factors. By data collection method through statistics, analysis, synthesis, comparison, quantitative analysis to generate qualitative comments and discussion; using econometric method to perform regression equation and evaluate quantitative results, the article analyzed and evaluated the impacts of Eight (8) micro and macroeconomic factors such as: Current Ratio (CR), Debt to Equity Ratio (DTE), Asset Turnover Ratio (ATO), Receivables Turnover Ratio (RTO), Consumer Price Index (CPI), Lending Rate(LDR), GPD Growth Rate (GGR) and Employment Cost Index (ECI) on Return on Assets (ROA) of an online social media firm, Facebook in the US in the period of 2012-2019, both positive and negative sides. The research results show a statistically significant relationship between a micro factor (ATO), two macro factors (LDR and ECI) with Facebook’s ROA, in which, LDR has a negative impact on ROA, while ATO has the highest positive impact on ROA, and ECI has also the positive effect on ROA but to a lesser extent. The research findings are of value to financial executives and investors not only for Facebook but also for companies in the online social media industry.

4G has been developed in Vietnam for a long time with commitments to superior speed and interactions compared with 3G services from telecommunications service suppliers such as Viettel, VinaPhone, MobiFone, Gmobile. However, by now, the growth rate of 4G services in Vietnam still remains low and the services are not highly appreciated by users in comparison with some countries in the region and the world. It is therefore very necessary to identify factors affecting the decision to use 4G services. The article proposes a research model on factors affecting the decision to use 4G services of Vietnamese customers based on TAM model and previous research findings. The research model is set up to measure the factors affecting the decision to use 4G services of Vietnamese customers, so that suppliers can further develop their services to meet the demand of users and attract more customers. On the side of users, they can enjoy more conveniences that this advanced technology brings to their work, study and communication so as to raise their work performance and improve their quality of life.

The paper aims to test the impact of tax structure on economic growth in the localities of Vietnam. In the paper, it is assumed, that tax structure is measured through the annual growth rate of tax revenue of 63 provinces and cities of Vietnam in terms of three groups: consumption tax (CT), income tax (IT), and property tax (PT) during the period of 11 years from 2007 to 2017; the research data was collected from the General Department of Taxation of Vietnam. Economic growth is a dependent variable, represented by the annual growth rate of the gross domestic product of each locality with the data source from the General Statistics Office of Vietnam. With the regression analysis according to the GMM method, the research results showed that consumption tax (CT) and income tax (IT) had a positive impact on economic growth in the localities of Vietnam, and property tax (PT) was not statistically significant. In addition, the study has achieved great success by identifying the consumption tax components that had significantly positive impacts on economic growth (GDP), namely export and import taxes (CT1), value added tax (CT2); meanwhile, excise tax (CT3) had a negative effect on economic growth (GDP). For income tax, personal income tax (IT2) also had a positive effect on economic growth (GDP). The research results are the first empirical evidence in Vietnam on the impact of the tax structure on economic growth in the localities, which is important for the Government of Vietnam to have a basis to manage tax policies in order to stimulate economic growth in a sustainable manner

This study aims to examine whether the assessment of Criteria for Performance Excellence (KPKU) is related to the firm performance of States-Owned Enterprise (SOE) in Indonesia. This study uses 82 firms-year observations from 19 State-Owned Enterprise listed on the Indonesia Stock Exchange (IDX) for the period 2009 to 2018. This study found that KPKU assessment was positively related to firm performance. This shows that KPKU assessment can be a signal that the company has good performance. The study also found that the positive relationship between KPKU assessment and company performance is stronger in companies audited by Big 4 and in big-sized companies. This study is the first research that discusses the relationship between KPKU assessment and firm performance. This study may be useful for practitioners and academics that are interested in the subject of SOE performance assessment. The results suggest to conduct a regular KPKU assessment because it can be useful to provide a positive signal for shareholders and potential investors.

This paper finds out the impact of a board diversity in terms of nationality and gender diversity on sustainability of bank performance and risk in Indian Banking and Financial Industry over the period of 2011 – 2015. Our results show that the presence of foreign directors is found to lead into a worse firm performance, but no significant relationship is found for the existence of women directors on bank performance. The nationality and gender diversity are found to have positive and significant impact to the bank risk. By looking at this, the regulation in India should pay more attention to the inclusion of foreign and women directors in their board as the improvement of corporate governance in emerging markets. Some contributions are made in this paper, which are first, this study gives new perspective in India as emerging market especially in financial industry, while most of the studies are conducted in U.S. and Europe. Most of the studies in India regarding the impact of board diversity to bank performance are conducted in all sectors, not specifically on the banking and financial industry and there is not any research which is conducted to find the impact on bank risk. However, some limitations are found. First, limited sample as it only covers 22 banks and financial industries due to lack of data on board diversities. Second, only 2 diversities are examined, while there are more diversities could be observed, such as age, education, experience.

Technical and fundamental analyses are the two investment making decisions widely spread all around the world. The financial crisis of 2008-2009 had a negative impact on the decisions of the Lithuanian investors to choose stock as the best investment option. However, national economics is cyclical and after recession recovery follows. Production volumes are anticipated to increase seeing that analysts forecast further GDP growth. Due to this reason, additional funding for the successful performance of enterprises will be required. Therefore, financial resources must be attracted by issuing new volumes of stocks. On the other hand, the successful performance of an issuer has a positive influence on the stock price in the market which is the subject of forecast made by the investors of Lithuania. Positive changes of stock prices in the market are partially influenced by the expectations of investors that stock prices will grow rapidly in the future. However, this feature is not known and can only be forecasted using different econometric models. At the theoretical level scientists disagree about the effectiveness of the methods used by the Lithuanian investors. Recently technical and fundamental analyses became popular among investors, though there is not much research done in order to test the effectiveness of the applicability of these methods in the Lithuanian stock market. With reference to the above mentioned information, this research is aimed to determine whether it is possible to forecast stock prices by estimating the financial ratios of a particular company. Due to this reason, a link between the return of a stock price and the financial ratios of the selected companies will be evaluated using correlation and covariance as the main analytical tools. Appropriate conclusions and suggestions are provided after obtaining reliable empirical results.