scholarly journals Pension Funds: Administrative and Investment Cost

2021 ◽  
Vol 115 ◽  
pp. 02006
Author(s):  
Jan Pokorný ◽  
Pavlína Hejduková
Keyword(s):  
Economies Of Scale ◽  
Pension Fund ◽  
Empirical Studies ◽  
Pension Funds ◽  
Literary Research ◽  
Investment Cost ◽  
Analysis And Synthesis ◽  
Main Determinants ◽  
Definition Of ◽  
High Share

The pension funds show us the alternative to the unfunded systems. This is the reason for long-terming attention. Disadvantages of funds financing include problems as indexation, inflation, or administrative and investment costs, which are decreasing the future profit for pensionary and efficiency of pension funds. This study aims to describe and analyse the administrative and investment costs and the determinants that affect these costs. The method of literary research and search of professional studies focused on empirical analysis of administrative and investment costs is used. Furthermore, the method of analysis and synthesis is used. The result of this study is an indication of the content and significance of costs and the definition of the main determinants influencing these costs. A prerequisite for the quality functioning of pension funds is the organization of the labor market and a high share of active participants. Determinants that increase costs include the number of participants in pension funds and total assets, the guarantee of income by the pension fund, and some investment instruments. Based on a search of empirical studies, the existence of economies of scale was confirmed. The limit of the study is the comparison of several countries where different legislation operates.

Paradoxes of reservation wage setting in the Russian labor market. Part I

2016 ◽  
pp. 5-27
Author(s):  
R. Kapeliushnikov ◽  
A. Lukyanova
Keyword(s):  
Labor Market ◽  
Empirical Studies ◽  
Reservation Wage ◽  
Wage Setting ◽  
Reservation Wages ◽  
Monitoring Survey ◽  
Main Determinants ◽  
Subjective Estimates ◽  
Objective Indicators

Using panel data from the Russian Longitudinal Monitoring Survey for 2006-2014, the paper investigates reservation wages setting in the Russian labor market. The sample includes non-employed individuals wishing to get a job (both searchers and non-searchers). The first part of the paper provides a survey of previous empirical studies, describes data and analyzes subjective estimates of reservation wages in comparison with various objective indicators of actual wages. The analysis shows that wage aspirations of the majority of Russian non-employed individuals are overstated. However their wage expectations are rather flexible and decrease rapidly as the search continues that prevents high long-term unemployment. The second part of the paper provides an econometric analysis of main determinants of reservation wage and its impact on probability of re-employment and wages on searchers’ new jobs.

Principles of economic security management of institutions of higher education

2019 ◽  
pp. 174-181
Author(s):  
Nataliia Tsymbalenko
Keyword(s):  
Management System ◽  
Semantic Analysis ◽  
Security Management ◽  
Economic Security ◽  
Theoretical Concepts ◽  
Economic Role ◽  
Social Mission ◽  
Analysis And Synthesis ◽  
Definition Of ◽  
The University

The subject of research-theoretical concepts of economic security managementof universities. The purpose of the article. The study of the essence of the economicsecurity management system of the university and the definition of its main tasks,the formulation of principles of economic security management of the university.Methodology. The dialectical method, methods of analysis and synthesis, methodsof structural-logical and semantic analysis were used to study and summarizescientific papers on the research topic. The results of the work. The essence of theuniversity’s economic security management system has been reviewed. The maintasks of the control system have been identified. A definition of the university’seconomic security system has been proposed. Principles of management of economicsecurity of the university have been formulated. These are: scientific andorganizational and social principles. Conclusions. The proposed principles allow totake into account the economic role and social mission of universities in managingeconomic security.

Opportunities for improving the insider laws: A comparative analysis of the practice in the USA and Russia

2020 ◽  
Vol 26 (4) ◽  
pp. 796-814
Author(s):  
E.K. Ovakimyan
Keyword(s):  
Financial Markets ◽  
Insider Trading ◽  
Negative Impact ◽  
Business Environment ◽  
Market Manipulation ◽  
Insider Information ◽  
Analysis And Synthesis ◽  
The Usa ◽  
Legislative Perfection ◽  
Definition Of

Subject. The article examines the laws regulating insider trading. Objectives. The study outlines recommendations for refining Law On Countering the Illegal Use of Insider Information and Market Manipulation and Amendments to Some Legislative Acts of the Russian Federation, № 224-ФЗ of July 27, 2010. Methods. The methodological framework includes a general dialectical method, analysis and synthesis, induction and deductions, and some specific methods, such as comparative and formal logic analysis to specify the definition of insider information, structural logic and functional analysis to improve the mechanism for countering insider trading and market manipulation. Results. We discovered key drawbacks to be addressed so as to improve the business environment in Russia. Although the Russia laws mainly mirror the U.S. laws, they present a more extended list of terms concerning the insider information. I believe the legislative perfection should be continued. Conclusions and Relevance. The study helps apply the findings to outline a new legislative regulation or amend the existing ones, add a new mention on the course of financial markets to students’ books, develop new methods for detecting and countering and improving the existing ones. If all parties to insider relationships use the findings, they will prevent insider trading crimes in financial markets and (or) reduce the negative impact of such crimes on the parties.

Developing capital accounting practices in the integrated reporting system of agricultural organizations

2020 ◽  
Vol 23 (8) ◽  
pp. 906-921
Author(s):  
R.A. Alborov ◽  
S.M. Kontsevaya ◽  
S.V. Kozmenkova
Keyword(s):  
Original Method ◽  
Theory And Practice ◽  
Integrated Reporting ◽  
Governance System ◽  
Analysis And Synthesis ◽  
Agricultural Organizations ◽  
Set Up ◽  
Definition Of ◽  
Methodological Aspects ◽  
Agricultural Organization

Subject. This article deals with the theory-and practice-relevant issues of classification and content definition of different types of capital used as sources of operations financing, and recommendations for developing their accounting in agricultural organizations. Objectives. The article aims to substantiate the organizational and methodological aspects of capital accounting development to generate information on value reserve and creation of value as new in the organization's integrated reporting. The article also aims to define the classification and content of capital types as sources of financing for the organization's activities and develop recommendations for developing the accounting of the availability, increase, reduction or transformation of the relevant types of capital in the organization's business activities. Methods. For the study, we used the methods of analysis and synthesis, induction and deduction, analogy, and comparison. The scientific works of domestic specialists and regulations, including the International Standard on Integrated Reporting (IR) are the methodological basis of this work. Results. The article defines conceptual provisions and offers practical recommendations on the set-up and development of capital flow accounting in the corporate governance system of the agricultural organization. It clarifies the classification and economic content of capital as a source of funding for the organization's reproduction activities. The article also offers an original method of accounting for the value reserve (balances) and capital changes. Conclusions and Relevance. The practical application of the developed recommendations for value accounting and capital changes will help generate all the necessary information in the integrated reporting of the agricultural organization to assess its reserves of value, create value as new, economic, environmental, and social efficiency of the organization's activities. The results of the study can be used to develop the theory, methodology and techniques of accounting of capital types as sources of financing of value creation as a result of the agricultural organization's business activities.

Schweizer Wald als Geldanlage: Win-win-Strategie für Waldwirtschaft und Pensionskassen? (Essay) | Swiss forest as an investment opportunity: a win-win situation for both the forestry sector and pension funds? (Essay)

2011 ◽  
Vol 162 (2) ◽  
pp. 27-31
Author(s):  
Daniel Häuptli
Keyword(s):  
Value Chain ◽  
Pension Fund ◽  
Pension Funds ◽  
Literature Analysis ◽  
Forest Land ◽  
Investment Opportunity ◽  
Existing Problems ◽  
Monetary Value ◽  
Forestry Sector ◽  
The One

Could there be a win-win situation for both pension funds and the Swiss forestry sector? On the one hand, developments in the forestry sector suggest that the Swiss forest presents a new lucrative investment opportunity. If this is so, then pension funds could be particularly interested, as the low correlation between Swiss forest and other classes of investment, and the long investment periods involved are ideal for pension fund portfolios. On the other hand, large investments made by pension funds could mean that existing problems in Swiss forestry, in connection with its fragmented nature, could be more rapidly solved, and the potential for rationalization in the wood value chain could be fully realized. This would in turn make investments in the forest even more profitable. This hypothesis was investigated through a comprehensive literature analysis, yield calculations for private forestry enterprises of over 50 ha made by the Swiss Federal Office for Statistics 2004–2008, and an interview with the investments director of a large Swiss pension fund. Despite the optimistic assumption that the greater efficiency gained by the investment of pension funds into the forestry sector could lead to costs lower by 50% and a 20% increase in profits, the hypothesis must be rejected, because a calculated annual return of only 0.82% is too low for pension funds. The conclusion is that the price for forest land is high, and forest owners are not only interested in the monetary value of holding forest. Other immaterial values influence prices. It is suggested that a greater emphasis on socioscientific studies concerning the link between the price of forest land and the motivation to buy and sell forest could lead to some important findings.

scholarly journals Food Consumption Determinants and Barriers for Healthy Eating at the Workplace—A University Setting

Foods ◽  
2021 ◽  
Vol 10 (4) ◽  
pp. 695
Author(s):  
João P. M. Lima ◽  
Sofia A. Costa ◽  
Teresa R. S. Brandão ◽  
Ada Rocha
Keyword(s):  
Food Consumption ◽  
Healthy Eating ◽  
Nutritional Value ◽  
Perceived Barriers ◽  
Cross Sectional ◽  
Meal Quality ◽  
Main Determinants ◽  
Definition Of ◽  
Self Administered Questionnaire ◽  
University Setting

Background: A wide variety of social, cultural and economic factors may influence dietary patterns. This work aims to identify the main determinants of food consumption and barriers for healthy eating at the workplace, in a university setting. Methods: A cross-sectional observational study was conducted with 533 participants. Data were obtained through the application of a self-administered questionnaire that included socio-demographic information, food consumption determinants and the main perceived barriers for healthy eating at the workplace. Results: The respondents identified “price” (22.5%), “meal quality” (20.7%), and “location/distance” (16.5%). For women, the determinant “availability of healthy food options” was more important than for men (p < 0.001). The food consumption determinants at the workplace most referred to by respondents were related to the nutritional value. Smell, taste, appearance and texture, and good value for money, were also considered important for choosing food at the workplace. Respondents referred to work commitments and lack of time as the main barriers for healthy eating at the workplace. Conclusions: Identification of determinants involved in food consumption, and the barriers for healthy eating, may contribute to a better definition of health promotion initiatives at the workplace aiming to improve nutritional intake.

METHODICAL BASES OF AN ESTIMATION OF AGRICULTURAL LAND USING EFFICIENCY

2019 ◽  
Vol 4 (3) ◽  
pp. 237-244
Author(s):  
Mikhailo KOBCHENKO
Keyword(s):  
Land Use ◽  
Agricultural Land ◽  
Practical Importance ◽  
Economic Damage ◽  
Dialectical Approach ◽  
Methodical Approach ◽  
Analysis And Synthesis ◽  
Scientific Principles ◽  
Definition Of ◽  
Land Using

Introduction. The purpose of this article is to define methodological grounds of assessment of agricultural land using efficiency. The article is devoted to definition of the indicators system of land using efficiency. Methods of research. The solution of the tasks in the article is carried out with the help of such scientific and special research methods as: analysis and synthesis, systematization and generalization, the dialectical approach. Results. The structural balance between cost of land and production resources has been investigated, which leads to the need of many alternatives for the purpose and use of the respective territories on the basis of the modern system of land using efficiency assessment when determining the benefits of land resources using for agricultural production. Originality. It has been proved that to create and enforce a uniform indicators system of land using efficiency is necessary to determine all the factors that affect land use, to reflect the degree and type of each factor influence using the indicators of efficiency of the land use. Indicators of economic efficiency of land using and the intensity of land use are systemized. Practical importance. The methodical approach of agricultural lands using evaluation in the following areas has been justifed in the article: completeness of land use, rational land use, the level of land use intensity, efficient land use. The methodical approach has been presented to the calculation of potential losses from specific land uses in specific circumstances. It is proposed to assess the land using efficiency on the basis of indicators calculations of environmental and economic damage. Basic scientific principles can be used in the practice of agricultural enterprises. Keywords: management, methodological bases, evaluation, efficiency, and agricultural land use.

The impact of adaptability on the competitiveness of non-State pension funds

2021 ◽  
Vol 27 (11) ◽  
pp. 2606-2636
Author(s):  
Ekaterina S. YAROVAYA
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
High Variability ◽  
Current Time ◽  
Factors Affecting ◽  
Existing Problems ◽  
State Pension ◽  
The Impact ◽  
State Pension Funds

Subject. This article deals with the analysis of competitiveness, which is an important component of the strategic management of a non-State pension fund. Objectives. The article aims to study the existing approaches to the analysis of competitiveness, determine the role of the indicator of adaptability of competitiveness of non-State pension funds in conditions of high variability of the external environment, and formulate recommendations for drawing up criteria for the enterprise competitiveness taking into account the specifics of the activities of the funds. Methods. For the study, I used analysis, and the systems, and structural and functional approaches. Results. The article defines and classifies the factors affecting the competitiveness of non-State pension funds in modern market conditions. It substantiates the influence of the indicator of adaptability on the competitiveness of non-State pension funds. The article also proposes an approach to ranking this indicator, which can be applied regardless of the chosen method for assessing the competitiveness of non-State pension funds. Conclusions. The article concludes that the testing of the assessment of the non-State pension fund competitiveness using the author-proposed adaptability indicator helps determine the level of non-State pension fund competitiveness at the current time, track the changes, and identify the existing problems, the causes of their occurrence, and thereby ensure the conditions under which the non-State pension fund has the opportunity to promptly respond and adapt to external changes thus ensuring its stability in the market.

Another failed M&A: misaligned business models as culprit

2017 ◽  
Vol 38 (5) ◽  
pp. 18-26
Author(s):  
Gaël Le Floc’h ◽  
Laurent Scaringella
Keyword(s):  
Customer Value ◽  
Multinational Enterprises ◽  
Business Models ◽  
Small And Medium Enterprises ◽  
Empirical Studies ◽  
Empirical Literature ◽  
Content Type ◽  
Recent Debate ◽  
Definition Of ◽  
Medium Enterprises

Purpose Literature on business models (BMs) has grown ve ry rapidly since the beginning of the twenty-first century, and although the theoretical and empirical literature has developed significantly, the number of practical and management-oriented studies remains relatively low. A recent debate in the field has focused on the definition of BM invariants: sensing customer needs, creating customer value, sustaining value creation and monetizing value. Extant empirical studies have mainly focused on multinational enterprises (MNEs) and successful BMs; however, this study concentrates on the failure of BMs in the case of small and medium enterprises (SMEs). An important source of a BM’s failure is the misalignment between MNE and SME involved in an acquisition. Design/methodology/approach Looking through the lens of the four BM constants, the aim of this study is to examine the case of the acquisition Domestic Heating (an SME) by Ventilair (an MNE). Findings Although both separate entities were achieving good results and each had a specific BM, the acquisition produced poor results mainly due to the misalignment of the two BMs. The findings lead the authors to make recommendations to practitioners on avoiding BM misalignment during an acquisition. Originality/value The authors encourage practitioners to enhance communication, promote organizational experiments, acknowledge specificities of both entities, foster employee commitment and ensure homogeneity in IT system usage.

Long-Term Rates of Interest in the Valuation of a Pension Fund

1976 ◽  
Vol 21 (03) ◽  
pp. 286-340 ◽  
Author(s):  
C. D. Daykin
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Insurance Companies ◽  
Common Misconception ◽  
The Future

1. It seems to be a common misconception outside the actuarial profession that those within that illustrious body are mysteriously able to peer into their crystal balls and come up with prophetic answers about the future progress of pension funds, insurance companies and other allied matters. The appearance of an actuarial report with its air of finality and disclosure of a definite surplus, deficiency, bonus declaration or whatever it may be, only endorses the impression that the actuary is reporting on the unique and unquestionable answer to the problem in hand.

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