Creating Socially Sustainable Enterprise

2017 ◽  
Author(s):  
David Erdal
Keyword(s):  
Human Evolution ◽  
Financial Institutions ◽  
Global Economy ◽  
Economic Sustainability ◽  
Wealth Creation ◽  
Creation Process ◽  
Human Autonomy ◽  
Soluble P ◽  
Human Institution ◽  
Better Than

This chapter discusses evidence that the design of business as a human institution can be improved far beyond the current template of corporations owned by financial institutions, a template which led to the near collapse of the global economy in 2008, with costly consequences for generations of taxpayers. Re-evaluating business theory from a perspective of human evolution leads to the recognition that human autonomy and voluntary co-operation in every business require the rights currently bundled as ‘ownership’—the rights to information, influence, and wealth—to be allocated, not to financiers, but to the individuals directly co-operating as participants in the wealth-creation process. Evidence is discussed showing that member-owned enterprises perform as well or better than conventionally structured business in terms of human and economic sustainability, and that the problems of financing such enterprises are soluble.

INTERACTION OF THE NATIONAL ECONOMY OF UKRAINE WITH INTERNATIONAL CREDIT AND FINANCIAL ORGANIZATIONS

2017 ◽  
Author(s):  
Serhii Voitko ◽  
◽  
Yuliia Borodinova ◽  
Keyword(s):  
Financial Institutions ◽  
National Economy ◽  
Financial Support ◽  
Global Economy ◽  
Financial Sector ◽  
Negative Consequences ◽  
International Financial Institutions ◽  
The Future ◽  
International Credit

The article examines the interaction of the national economy of Ukraine with international credit and financial organizations, evaluates the positive and negative consequences and identifies possible areas for further cooperation. The role of international credit and financial organizations in the development of the global economy is analyzed. Today, international financial institutions have taken a leading place among institutions that provide financial support and contribute to the implementation of necessary reforms aimed at developing enterprises in various sectors of the economy and strengthening the country's financial sector as a whole. The importance of cooperation between Ukraine and international financial institutions for the development of the country's economy has been determined. The problems and directions of development of cooperation with leading credit and financial organizations in modern conditions are identified. Despite the presence of certain shortcomings, cooperation between Ukraine and international credit and financial organizations will continue in the future.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

Capital Production and Social Equity: Finding Balance in Chinese Cities

2014 ◽  
pp. 28-35
Author(s):  
Andrew Liang
Keyword(s):  
Economic Reform ◽  
Capital Accumulation ◽  
Global Economy ◽  
Social Equity ◽  
Modern Society ◽  
Global Market ◽  
Wealth Creation ◽  
Rapid Urbanization ◽  
Chinese Cities ◽  
The One

China’s massive capital accumulation, economic ascent and wealth production has largely been the result of their rapid urbanization effort. While it is indisputable that the country has largely succeeded in its economic reform efforts given its status as the world’s second largest economy and in that process lifted hundreds of millions of its population out of poverty, it has also, in that process, created severe social inequality and friction. This essay largely argues that Chinese cities are purpose-built financial instruments for capital accumulation, a result of the forces of globalization which could only have happened in sync with the time and space of a global economy. Though highly successful, so far the process has marginalized the objective of social integration into its performative matrix indexing. In this regard China has pursued an exploitive model of market driven urbanization and the resultant morphological and spatial attributes of the Chinese cities, while having achieved spectacular results on many levels, are nevertheless disjunctive. They are commodities of generic sameness that are mass-produced and exhibit the same anesthetizing effects of the spectacle that are ever prevalent in today’s global market production process, product and place. Recognizing that globalization and capitalism are here to stay in the immediate future, it begs the question if China, while having already undertaken extreme economic reform experimentations allowing it to now bask in its temporal success, will be able to leverage its acquired market knowledge and wealth creation to prospectively overcome the incredibly complex challenge of creating equitable cities in the future — ones that balance the demands of capital production on the one hand and social equity on the other — or rather will it sink deeper into the “neoliberal modern society” that it has already become.

scholarly journals CONVERTING CONVENTIONAL BANKS TO SHARIA BANKS IN ACEH: AN EFFORT TO MAINTAIN A STABLE ECONOMY IN THE COVID-19 OUTBREAK

2021 ◽  
Vol 10 (1) ◽  
pp. 24
Author(s):  
Iskandar Budiman
Keyword(s):  
Financial Institutions ◽  
Global Economy ◽  
Human Life ◽  
Growth Conditions ◽  
Islamic Banking ◽  
Economic Downturn ◽  
Economic Activities ◽  
Sharia Law ◽  
The Government ◽  
Conventional Banks

Based on Aceh Qanun (sharia law) No.11 of 2018 concerning Islamic Financial Institutions, it is required to carry out financial activities based on sharia principles. The decline of the global economy during the Covid-19 outbreak did not dampen the Aceh Government, which declared itself a special province practicing sharia values. Apart from aiming to make a purely Sharia-based region, the conversion of conventional banks to sharia banks is also to stabilize the economy. This study aims to analyze (1) the growth conditions of Islamic banking in Indonesia, (2) the legalization of the Aceh Government Qanun in determining financial institutions operating in Aceh, and (3) the resilience of Islamic banking in facing the global economic downturn during the Covid-19 pandemic. The analysis method used is literature and regulation review. The conclusion that the decentralization system implemented by the Indonesian Government in Islamic banking has not been able to maximize the growth of Islamic banking in Indonesia. Aceh Province, the only province in Indonesia that implements Sharia Law through special autonomy, has its own economic system. The Aceh government issued a Qanun, which obliged economic activities based on sharia principles. Based on Qanun No. 11 of 2018, the operation of Banks in Aceh must be in accord with Sharia. Therefore, entering 2020, the Islamic economy has been running almost perfectly in Aceh by changing conventional banking operations into Islamic banking. Furthermore, Islamic banking in Indonesia can still maintain stable growth when the Indonesian economy slides sharply in the second quarter of 2020 to minus 5.32 percent. This fact proves that increasing the growth of Islamic banking is an important thing to do. The Government should be serious and more consistent in maintaining economic stability and achieving the purposes (maqashid) of Sharia in human life.========================================================================================================ABSTRAK – Konversi Bank Konvensional Menjadi Bank Syariah di Aceh: Upaya Menjaga Stabilitas Perekonomian dalam Wabah Covid-19. Qanun (undang-undang syariat (Islam)) Aceh No 11 Tahun 2018 tentang Lembaga Keuangan Syariah, secara tegas telah mewajibkan lembaga keuangan yang beroperasi di Aceh untuk melaksanakan kegiatannya berdasarkan prinsip syariah. Penurunan ekonomi global di masa pandemi covid-19 tidak menyurutkan langkah Pemerintah Aceh dalam mengimplementasikan kebijakan mensyariahkan seluruh lembaga dan institusi yang berada di Aceh. Walaupun berada di dalam sebuah negara yang tidak menganut paham syariah, Provinsi Aceh telah menyatakan dirinya sebagai sebuah wilayah berkedaulatan syariah Islam. Selain bertujuan untuk menjadikan wilayah yang murni berbasis syariah Islam, konversi bank konvesional menjadi syariah juga bertujuan untuk menstabilkan perekonomian. Penelitian ini bertujuan untuk menganalisis (1) kondisi pertumbuhan perbankan syariah di Indonesia, (2) legalisasi Qanun Pemerintah Aceh dalam menentukan lembaga keuangan yang beroperasi di Aceh, dan (3) ketahanan  perbankan syariah dalam menghadapi penurunan perekonomian global di masa pandemi Covid-19. Studi ini menggunakan metode kajian literatur dan analisis regulasi yang menghasilkan kesimpulan yaitu sistem desentralisasi yang dilakukan Pemerintah Indonesia pada perbankan syariah belum dapat memaksimalkan pertumbuhan perbankan syariah di Indonesia. Provinsi Aceh sebagai satu-satunya provinsi di Indonesia yang menjalankan Syariat Islam melalui otonomi khusus mempunyai sistem perekonomian tersendiri. Pemerintah Aceh mengeluarkan qanun yang mewajibkan seluruh kegiatan perekonomian harus berlandaskan prinsip syariah. Berdasarkan Qanun No. 11 Tahun 2018, setiap perbankan yang beroperasi di Aceh haruslah berbentuk syariah. Oleh sebab itu memasuki tahun 2020, perekonomian Islam hampir sempurna telah berjalan di Aceh salah satunya dengan berubahnya operasional perbankan konvensional menjadi perbankan syariah di Provinsi Aceh. Selanjutnya, Perbankan syariah di Indonesia masih mampu menjaga kestabilan pertumbuhannya di saat perekonomian Indonesia meluncur tajam di kuartal II 2020 hingga minus 5,32 persen. Hal ini membuktikan bahwa meningkatkan pertumbuhan perbankan syariah merupakan hal yang penting dilaksanakan, memerlukan keseriusan dan konsistensi terus menerus dari pemerintah demi menjaga kestabilan ekonomi makro dan akan tercapai maqashid syariah pada semua lini kehidupan.

scholarly journals PERBANDINGAN KUALITAS PRODUK DAN MINAT MENABUNG PADA LPD DESA ADAT TAJUN DENGAN DESA ADAT TEGAL

2020 ◽  
Vol 4 (1) ◽  
pp. 59-67
Author(s):  
Eka Swarnadi Luh ◽  
Ketut Budi Susrusa ◽  
Ida Ayu Listia Dewi
Keyword(s):  
Product Quality ◽  
Financial Institutions ◽  
Rapid Development ◽  
Research Data ◽  
The Other ◽  
Physical Evidence ◽  
Significant Difference ◽  
The Difference ◽  
Better Than

LPDs are non-bank financial institutions that are regulated and approved by the Regional Regulations of the Province of Bali. The management of LPD is fully handed over to the relevant Pakraman village. In line with the rapid development of LPDs, it turns out that on the other hand it shows diverse performance, so that LPDs need to pay attention to the level of product quality and customer interest in the products offered.            The purpose of the study was to determine the comparison of product quality and interest in saving at the Tajun Traditional Village LPD with the Traditional Village of Tegal. The number of samples from Tajun Adat Village LPD was 98 people and the LPD of Tegal Traditional Village was 84 people. The research data were analyzed by the Mann-Whitney Test. The results showed that there was a significant difference between the quality of the products of the Adat Village of Tajun LPD and the Traditional Village of Tegal. This difference is indicated by indicators of physical evidence, reliability, responsiveness and empathy. The product quality of Tajun Adat Village's LPD is better than the traditional village of Tegal. There is a significant difference between the interest in saving the traditional village of Tajun LPD and the traditional village of Tegal. The difference is in the indicator of confidence. Interest in Saving Tajun Indigenous Village LPD is higher than the Traditional Village of Tegal.

Institutional Systems for Equitable Wealth Creation: Replication and an Update of Judge et al. (2014)

2020 ◽  
Vol 16 (1) ◽  
pp. 5-31
Author(s):  
William Q. Judge ◽  
Stav Fainshmidt ◽  
J. Lee Brown
Keyword(s):  
Global Economy ◽  
Global Financial Crisis ◽  
Original Study ◽  
Replication Study ◽  
Wealth Creation ◽  
Policy Makers ◽  
Time Period ◽  
Comparative Capitalism ◽  
Multiple Paths ◽  
The Global Financial Crisis

ABSTRACTThis replication study was invited by the Editor in Chief of Management and Organization Review, Arie Y. Lewin. The original study by Judge, Fainshmidt, and Brown (2014) spanned the global financial crisis (2005–2010), and as such, this anomalous time period may not have been representative of most economies, or even the overall global economy. In this replication study we refine and extend Judge et al. (2014) which explored the provocative question – which form of capitalism works best in terms of ‘equitable wealth creation’? Similar to the earlier study, we find that there are multiple paths to macro-economic success. Notably, effective institutional configurations tend to combine high-quality regulatory institutions, effective skill development systems, and social cultures largely unaffected by corruption so there is some commonality amongst effective configurations. In contrast, ineffective institutional configurations tend to be relatively weak in one or several of these three critical sets of institutions. Importantly, we find some novel patterns emerging from the most recent data, including potentially new forms of capitalism associated with equitable wealth creation. In addition, we find that effective credit market institutions are more important, and collective bargaining institutions are less important than the original study suggested. We discuss implications for the comparative capitalism literature, policy makers, and the future of capitalism in the global economy.

Trump threat will drive Mexico trade diversification

2017 ◽  
Keyword(s):  
Financial Institutions ◽  
Commercial Banks ◽  
Global Economy ◽  
Donald Trump ◽  
Content Type ◽  
The Us ◽  
Development Banks ◽  
Loan Growth ◽  
Two Sectors ◽  
Trade And Investment

Subject Mexican development banks. Significance Mexican foreign trade financing bank Banco de Comercio Exterior de Mexico (Bancomext) has signed several cooperation agreements this year in Asia and Europe, in an effort to diversify trade and investment relationships. The push comes amid great uncertainty in the global economy and increased tensions in the US-Mexico relationship since the election of US President Donald Trump. Impacts Bancomext's efforts to increase export opportunities will especially benefit smaller Mexican firms. Foreign financial institutions will welcome opportunities to strengthen access to Latin America’s second-largest economy. Strong loan growth by development banks will not threaten commercial banks as the two sectors work together.

scholarly journals A BIT Is Better Than a Lot: Bilateral Investment Treaties and Preferential Trade Agreements

2009 ◽  
Vol 62 (1) ◽  
pp. 1-42 ◽  
Author(s):  
Jennifer L. Tobin ◽  
Marc L. Busch
Keyword(s):  
Developing Country ◽  
Global Economy ◽  
Trade Agreements ◽  
Developed Countries ◽  
Preferential Trade Agreements ◽  
Annual Data ◽  
Bilateral Investment Treaties ◽  
Preferential Trade ◽  
Investment Treaties ◽  
Better Than

The landscape of the global economy is dotted with institutions that regulate investment and trade. In recent years, the number of bilateral investment treaties (BITs) and preferential trade agreements (PTAs), in particular, has grown at a torrid pace; practically every country is a member of at least one—if not many—of these institutions. For all the scholarly attention that these institutions have received, however, there is little research tying BITs and PTAs together. This is surprising, since both aim to increase commerce by making it more predictable. The authors seek to fill this gap in the literature. They argue that a BIT between a developed and a developing country should make it more likely that this pair of states will subsequently form a PTA. That said, the wrinkle in the story is that more is not better in this regard; the authors further argue that a developing country that has many BITs is less likely to conclude a PTA with a wealthy state. The authors test these hypotheses using annual data on pairs of developing and developed countries between 1960 and 2004 and find strong evidence in support of their argument.

scholarly journals Youth Empowerment, Wealth Creation and Security as Key to National Development

2021 ◽  
Vol 21 (3) ◽  
pp. 91-101
Author(s):  
Grace Ifeoma Egwu
Keyword(s):  
Sustainable Development ◽  
National Security ◽  
National Development ◽  
Secondary Data ◽  
Youth Empowerment ◽  
Wealth Creation ◽  
Creation Process ◽  
The Government ◽  
Unemployed Youth ◽  
Creative Will

This paper examined youth empowerment, wealth creation and security as key to national development. The paper was guided by three objectives viz-a-viz; finding out how the empowerment of youth enhances national development, determining how wealth creation in the country is capable of enhancing national development and examining the role security play in entrenching national development. Reviews of literature were carried out in line with the objectives of the study using secondary data as method of data collection. The paper concluded that youth empowerment, wealth creation and national security enhance a nation’s positive and sustainable development. The paper suggested that government should make youth empowerment and wealth creation process in the country seamless so that majority of her unemployed youth can key into the scheme to uplift self and enhance national development. Also, the government should make national security a priority at all times. This is because without adequate security in the country, the zeal to be creative will be discouraged, investment will be limited, thus making development of the country to be stagnated as interested persons and organizations will be scared to invest. Keywords: Youth Empowerment, Wealth Creation, Security, National Development

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