Forward-Looking Information and its Determinants: an Empirical Evidence from Listed Pharmaceutical Firms of Bangladesh
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 08
Abstract
The purpose of this paper is to examine the factors that affect how forward-looking information is disclosed by Bangladeshi 's listed pharmaceutical firms. In this study, a total sample of 115 firms from 23 pharmaceutical firms listed on the Dhaka Stock Exchange (DSE) is considered from the period of 2016 to 2020. Board size, board independence, gender diversity, firm size, leverage, liquidity, and profitability are used as the determinants of forward-looking information. According to the descriptive statistics, the average level of extent of forward-looking information is only 59.33%, which is inadequate for the pharmaceutical industry to survive in the long term. The multiple regression results show that the level of forward-looking information disclosure is positively and significantly associated with board size, firm size, and firm profitability. But the regression results documented that gender diversity, leverage and liquidity and board independence have no significant association with forward-looking information. The findings of this study suggest that companies should focus more on forward-looking information to survive in the market and pursue a competitive advantage. Moreover, the findings of this study also suggest that further research can be conducted using qualitative research in a different sector as well as a cross-country comparison.
Authors and Affiliations
Tanzina HAQUE, Sadia AFROZE, Md. Musfiqur RAHMAN
Keywords
Related Articles
- EP ID EP727284
- DOI 10.47191/jefms/v6-i8-21
- Views 69
- Downloads 0
Analysis of Determinants of Labor Absorption in Seaweed Small and Medium Industries in Mataram City West Nusa Tenggara Province
This study aims to analyze the factors that influence labor absorption in seaweed small and medium industries in Mataram City, West Nusa Tenggara Province. The variables studied include wages, production capacity, and ca...
Predicting Bankruptcy on Oil Companies Before and After the Pandemic Using Two Altman's Z-Score Models. Industrial and Emerging Markets. Evidence from Greece
This paper is prepared with the aim of establishing whether there is a possible bankruptcy of the Greek oil companies Listed on the Athens Stock Exchange in the last six years 2016-2021. This period under consideration a...
The Study on the Impact of Exchange Rate and Inflation on Nifty
This study explores the impact of exchange rates (USD/INR) and inflation (CPI/WPI) on the performance of the Nifty index. By analysing historical data over the past 10 years, the research examines the individual and comb...
Evaluation of Student Satisfaction of the University of Labour and Social Affairs with the Quality of Online Training
The study uses qualitative and quantitative research methods to clarify the relationship between Functional Quality and Technical Quality affecting the Image factor. With a research sample size of 142 valid questionnaire...
The Challenges Facing I.T. Organizations from Romania in Implementing Effective Talent Management
History shows that every crisis brings with it numerous challenges in several fields, of which the economic, financial or business is no exception. In the context of the post-Covid crisis and the crisis generated by the...