期刊名称：European Journal of Business and Social Sciences
印刷版ISSN：2235-767X
出版年度：2016
卷号：5
期号：6
页码：342-352
出版社：European Society of Business and Social Sciences
摘要：irms with high growth opportunity and superior performance are associated with level ofinformation asymmetry (Chiyachantana, 2013). With respect to type of information, firmswith superior operating performance, high growth opportunity are likely to disclose theinvestment and structural change as well as legal and miscellaneous information. The generalobjective of the study was to analyse the effect of information asymmetry on the performance oflisted manufacturing companies in Rwanda.Specific objectives were to analyse the effect of moral hazard asymmetric information on theperformance of manufacturing companies in Rwanda; to analyse the influence of adverse selectionasymmetric information to the performance of manufacturing companies in Rwanda; to determinethe correlation between cost forecast asymmetric information and performance of manufacturingcompanies in Rwanda.BRALIRWA and other manufacturing companies received recommendations and suggestionsconcerning asymmetric information and performance of the company according to the researchfindings. This research use both correlational and analytical research designs, the targetpopulation of this research was 128 employees from seven departments of BRALIRWA Ltd relatedto the research topic, where sample size of 79 employees obtained using Yamane formula. The 79were selected using purposive sampling technique in order to get the most appropriaterespondents. The researcher used the primary and the secondary sources during the datacollection, where by questionnaires were used. This descriptive statistics used in this research werepercentages and frequencies, Correlational and regression analysis were also used as inferentialstatistics to establish the relationship between variables. The researcher used Statistical Packagingfor Social Sciences (SPSS) version 16 in this study to analyze and present data. In relation to thefirst research objective, this research found that the coefficient r betweenmoral hazard asymmetricinformation and performance of manufacturing companies equal to 0.980. This leads to confirmthat there is significant relationship between moral hazard asymmetric information andperformance of BRALIRWA. In relation to the second research objective, the study found that thecoefficient r equal to 0.986. This leads to confirm that there is significant positive relationshipbetween adverse selection asymmetric information and performance of BRALIRWA. In relation tothe third research objective, this research found that the coefficient r equal to 0.971. This leads toconfirm that there is significant correlation between cost forecast asymmetric information andperformance of BRALIRWA. This study concluded that the performance disadvantage of lesspowerful buyers was less pronounced in BRALIRWA when the buyer had detailed information andthis result can be explained by the buyer’s negotiation behavior. It is recommended for allregistered manufacturing companies that decision to introduce to financial managementinformation needs to be accompanied by strong commitment, sufficient manpower and financialresources, widespread internal support, and an agenda for effective communication. Basing on thefindings related to the problems as well as the theoretical aspects presented in the literaturereview this research recommends manufacturing companies of Rwanda to speed up the campaignto focus on the management of asymmetric information as among the best tool to the profitabilityof manufacturing companies.
关键词：Asymmetric information; moral hazard information; adverse selection and performance
Loading...
