{"id":"https://openalex.org/W2962389605","doi":"https://doi.org/10.6007/ijarbss/v9-i3/5802","title":"Market Capitalization and Financial Variables: Evidence from Italian Listed Companies","display_name":"Market Capitalization and Financial Variables: Evidence from Italian Listed Companies","publication_year":2019,"publication_date":"2019-03-21","ids":{"openalex":"https://openalex.org/W2962389605","doi":"https://doi.org/10.6007/ijarbss/v9-i3/5802","mag":"2962389605"},"language":"en","primary_location":{"id":"doi:10.6007/ijarbss/v9-i3/5802","doi":"https://doi.org/10.6007/ijarbss/v9-i3/5802","is_oa":true,"landing_page_url":"https://doi.org/10.6007/ijarbss/v9-i3/5802","pdf_url":"https://hrmars.com/papers_submitted/5802/Market_Capitalization_and_Financial_Variables.pdf","source":{"id":"https://openalex.org/S4210209736","display_name":"International Journal of Academic Research in Business and Social Sciences","issn_l":"2222-6990","issn":["2222-6990","2308-3816"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["anvur-scientific"],"host_organization":"https://openalex.org/P4322696514","host_organization_name":"Human Resource Management Academic Research Society","host_organization_lineage":["https://openalex.org/P4322696514"],"host_organization_lineage_names":["Human Resource Management Academic Research Society"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Academic Research in Business and Social Sciences","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://hrmars.com/papers_submitted/5802/Market_Capitalization_and_Financial_Variables.pdf","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5024473787","display_name":"Pietro Pavone","orcid":"https://orcid.org/0000-0001-5880-8609","observed_orcids":["https://orcid.org/0000-0001-5880-8609"]},"institutions":[{"id":"https://openalex.org/I16337185","display_name":"University of Sannio","ror":"https://ror.org/04vc81p87","country_code":"IT","type":"education","lineage":["https://openalex.org/I16337185"]}],"countries":["IT"],"is_corresponding":true,"raw_author_name":"Pietro Pavone","raw_affiliation_strings":["Law, Economics, Management and Quantitative Methods Department, University of Sannio"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Law, Economics, Management and Quantitative Methods Department, University of Sannio","institution_ids":["https://openalex.org/I16337185"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5024473787"],"corresponding_institution_ids":["https://openalex.org/I16337185"],"apc_list":null,"apc_paid":null,"fwci":9.5511,"has_fulltext":true,"cited_by_count":34,"citation_normalized_percentile":{"value":0.97539229,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":94,"max":99},"biblio":{"volume":"9","issue":"3","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.9185000061988831,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.9185000061988831,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.04560000076889992,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.026200000196695328,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/market-capitalization","display_name":"market capitalization","score":0.9980000257492065},{"id":"https://openalex.org/keywords/financial-ratios","display_name":"financial ratios","score":0.7889999747276306},{"id":"https://openalex.org/keywords/return-on-equity","display_name":"return on equity","score":0.8629999756813049},{"id":"https://openalex.org/keywords/return-on-assets","display_name":"return on assets","score":1.0},{"id":"https://openalex.org/keywords/price-earnings-ratio","display_name":"price earning ratio","score":0.9399999976158142},{"id":"https://openalex.org/keywords/earnings-yield","display_name":"earnings yield","score":0.8190000057220459},{"id":"https://openalex.org/keywords/operating-income","display_name":"operating profit","score":0.6779999732971191},{"id":"https://openalex.org/keywords/working-capital","display_name":"working capital","score":0.8930000066757202},{"id":"https://openalex.org/keywords/italian-listed-firms","display_name":"Italian listed companies","score":0.699999988079071},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.7820000052452087},{"id":"https://openalex.org/keywords/market-efficiency","display_name":"market efficiency","score":0.7200000286102295}],"concepts":[{"id":"https://openalex.org/C206217203","wikidata":"https://www.wikidata.org/wiki/Q1134378","display_name":"Earnings per share","level":3,"score":0.7009214162826538},{"id":"https://openalex.org/C193445137","wikidata":"https://www.wikidata.org/wiki/Q471719","display_name":"Market capitalization","level":4,"score":0.6680325269699097},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5867314338684082},{"id":"https://openalex.org/C155530773","wikidata":"https://www.wikidata.org/wiki/Q591174","display_name":"Return on equity","level":3,"score":0.5427170395851135},{"id":"https://openalex.org/C133441289","wikidata":"https://www.wikidata.org/wiki/Q127473","display_name":"Price\u2013earnings ratio","level":4,"score":0.5064715147018433},{"id":"https://openalex.org/C2779137862","wikidata":"https://www.wikidata.org/wiki/Q425951","display_name":"Capitalization","level":2,"score":0.4979696273803711},{"id":"https://openalex.org/C2781426361","wikidata":"https://www.wikidata.org/wiki/Q5326940","display_name":"Earnings","level":2,"score":0.4707682132720947},{"id":"https://openalex.org/C98014903","wikidata":"https://www.wikidata.org/wiki/Q832161","display_name":"Financial ratio","level":2,"score":0.4514755308628082},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.44176754355430603},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.41865745186805725},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3712969422340393},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3705834746360779},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.34946209192276},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.34372544288635254},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.24927571415901184},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.2040998339653015},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.6007/ijarbss/v9-i3/5802","doi":"https://doi.org/10.6007/ijarbss/v9-i3/5802","is_oa":true,"landing_page_url":"https://doi.org/10.6007/ijarbss/v9-i3/5802","pdf_url":"https://hrmars.com/papers_submitted/5802/Market_Capitalization_and_Financial_Variables.pdf","source":{"id":"https://openalex.org/S4210209736","display_name":"International Journal of Academic Research in Business and Social Sciences","issn_l":"2222-6990","issn":["2222-6990","2308-3816"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["anvur-scientific"],"host_organization":"https://openalex.org/P4322696514","host_organization_name":"Human Resource Management Academic Research Society","host_organization_lineage":["https://openalex.org/P4322696514"],"host_organization_lineage_names":["Human Resource Management Academic Research Society"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Academic Research in Business and Social Sciences","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.6007/ijarbss/v9-i3/5802","doi":"https://doi.org/10.6007/ijarbss/v9-i3/5802","is_oa":true,"landing_page_url":"https://doi.org/10.6007/ijarbss/v9-i3/5802","pdf_url":"https://hrmars.com/papers_submitted/5802/Market_Capitalization_and_Financial_Variables.pdf","source":{"id":"https://openalex.org/S4210209736","display_name":"International Journal of Academic Research in Business and Social Sciences","issn_l":"2222-6990","issn":["2222-6990","2308-3816"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["anvur-scientific"],"host_organization":"https://openalex.org/P4322696514","host_organization_name":"Human Resource Management Academic Research Society","host_organization_lineage":["https://openalex.org/P4322696514"],"host_organization_lineage_names":["Human Resource Management Academic Research Society"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Academic Research in Business and Social Sciences","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2962389605.pdf","grobid_xml":"https://content.openalex.org/works/W2962389605.grobid-xml"},"referenced_works_count":23,"referenced_works":["https://openalex.org/W106722165","https://openalex.org/W1503151622","https://openalex.org/W1530977431","https://openalex.org/W1564966271","https://openalex.org/W1611867911","https://openalex.org/W1973190739","https://openalex.org/W2002217426","https://openalex.org/W2005912262","https://openalex.org/W2011392570","https://openalex.org/W2042762101","https://openalex.org/W2065536465","https://openalex.org/W2080481849","https://openalex.org/W2080592834","https://openalex.org/W2082102618","https://openalex.org/W2102998334","https://openalex.org/W2112102990","https://openalex.org/W2273813541","https://openalex.org/W2566544156","https://openalex.org/W3107817112","https://openalex.org/W3123988766","https://openalex.org/W3124973965","https://openalex.org/W3145869399","https://openalex.org/W6630319819"],"related_works":["https://openalex.org/W4411580053","https://openalex.org/W4289516702","https://openalex.org/W4413766014","https://openalex.org/W3119225272","https://openalex.org/W2254003586","https://openalex.org/W7214976476","https://openalex.org/W2957054096","https://openalex.org/W7213562746","https://openalex.org/W7019242708","https://openalex.org/W6894050600"],"abstract_inverted_index":{"In":[0],"the":[1,14,19,24,42,62,102,110],"company-financial":[2],"markets":[3],"relationship,":[4],"a":[5,56],"crucial":[6],"role":[7],"is":[8,38,53,91],"played":[9],"by":[10],"economic-financial":[11],"information,":[12],"because":[13],"financial":[15,46],"variables":[16,47,103],"deriving":[17],"from":[18,94],"balance":[20],"sheet":[21],"analysis":[22],"reduce":[23],"information":[25],"asymmetries":[26],"between":[27,119,137],"management":[28],"and":[29,32,79,122,129,134,140,143],"potential":[30],"investors":[31],"improve":[33],"market":[34,49,51,111,120,138],"efficiency.The":[35],"present":[36],"study":[37,89],"conducted":[39],"to":[40,96],"examine":[41],"effect":[43],"of":[44,109],"some":[45,114],"on":[48,66,69],"capitalization.The":[50],"capitalization":[52,121,139],"considered":[54,104],"as":[55],"dependent":[57],"variable,":[58],"while":[59,99],"six":[60],"are":[61,87,105],"independent":[63],"variables:":[64],"Return":[65,68],"Equity,":[67],"Assets,":[70],"Price/Earnings":[71,123],"Ratio,":[72,124],"Operating":[73,125],"Income/Turnover":[74],"per":[75,82,127,132],"share,":[76],"Earnings":[77,144],"Yield":[78],"Working":[80,130],"Capital":[81,131],"Share.307":[83],"Italian":[84],"listed":[85],"companies":[86],"considered.The":[88],"period":[90],"10":[92],"years:":[93],"2008":[95],"2017.This":[97],"research,":[98],"noting":[100],"that":[101],"not":[106],"decisive":[107],"drivers":[108],"capitalization,":[112],"outlines":[113],"important":[115],"relationships:":[116],"positive":[117],"relationship":[118,136],"income/Turnover":[126],"share":[128],"Share":[133],"negative":[135],"ROE,":[141],"ROA":[142],"Yield.":[145]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":8},{"year":2022,"cited_by_count":6},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":3}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2019-07-23T00:00:00"}