Balkan emigration will go on without better governance

2020 ◽  
Keyword(s):  
Health Systems ◽  
Cash Flow ◽  
Current Account ◽  
Medical Staff ◽  
Content Type ◽  
South Eastern ◽  
The Past ◽  
Balkan Countries ◽  
Economic Considerations ◽  
Current Account Balances

Significance The protests highlight the deep dissatisfaction that has led hundreds of thousands to leave Serbia and other Western Balkan countries over the past decade. Motives driving emigration have changed to include marked discontent with governance along with economic considerations; the consequent depletion of the well-educated and more progressive part of the citizenry has economic and political significance. Impacts The cash flow from diaspora remittances will continue to support South-Eastern Europe's budgets and current account balances. The COVID-19 pandemic is expected to reduce remittances severely in 2020. High emigration among medical staff is hitting health systems badly.

Understanding the connection between SMEs’ competitiveness and cash flow generation: an empirical analysis from Hungary

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gabor Markus ◽  
Andras Rideg
Keyword(s):  
Financial Performance ◽  
Cash Flow ◽  
Explanatory Power ◽  
Cash Flows ◽  
Ordinary Least Squares ◽  
Competitive Performance ◽  
Content Type ◽  
The Past ◽  
Wide Range ◽  
The Future

Purpose The purpose of this paper is to interconnect the firm level competitive performance (competitiveness) to the financial performance of the firms. The goal is to give evidence on how successful small- and medium-sized enterprises (SMEs) use their financial performance to support their competitive performance. Design/methodology/approach Competitiveness is interpreted and measured through the resource-based view theory on a wide range of competitiveness measurements with a sample size of 639 SMEs. Financial data originate from official, publicly accessible governmental archives. All data are from a mid-size Central European country (Hungary). To interconnect competitiveness and financial performance, this paper recognizes two types of cash flow, namely, cash flow to the “past” (dividend and debt service) and cash flow to the “future” (CAPEX and innovation). This paper used ordinary least squares regression and binomial logistic regression to analyze connections. Findings Cash flows to the “future” have much stronger effects on competitiveness than cash flows to the “past.” Debt services do not affect competitiveness, whereas dividends, CAPEX and innovation efforts have a significant positive connection to competitiveness, showing that higher cash flow indicates higher competitive performance. If this paper knows how much the firm spends on innovation and dividends, in about the four-fifths of the cases, this paper can predict the level of the competitiveness of the firm without any additional information. The level of these variables gives enough information, the variability of them is not relevant. Research limitations/implications The explanatory power of future-oriented cash flow elements is much higher than that of the past-oriented ones, while innovation dominates all models. Firms with higher competitiveness build their returns in their cost structure, and only when the financial position of the firm is stable enough, withdraw the financial resource based on a long-term plan. The results are limited by the fact that using the current sample, detailed and representative (e.g. cross-industrial, spatial, etc.) decomposition is not possible. Originality/value Literature is focusing on how SMEs reach success, how SMEs “earn money.” There is no evidence on how SMEs “spend money,” earned during their success.

Reflation trade benefits Central Europe’s currencies

2018 ◽  
Keyword(s):  
Monetary Policy ◽  
Global Economy ◽  
Emerging Market ◽  
Global Markets ◽  
Significant Deterioration ◽  
Content Type ◽  
The Past ◽  
Equity Funds ◽  
Business Confidence ◽  
Current Account Balances

Subject The outlook for the koruna, forint, zloty and leu. Significance Although emerging market (EM) bond and equity funds suffered heavy outflows in the week to February 14, the Czech koruna has barely budged against the dollar and the euro, after rallying sharply over the past few months. The Polish zloty and Hungarian forint have also remained stable, after enjoying sharp gains versus both currencies. The Romanian leu remains under pressure, owing partly to a significant deterioration in the country’s fiscal and current account balances. Impacts The surge in volatility in global markets in early February is abating partly because of strong economic and corporate fundamentals. Also, the global economy is enjoying its strongest synchronised expansion since 2010. The dollar will remain under significant strain despite the tightening of US monetary policy, with the dollar index at a three-year low. German business confidence, at a record high in January, is buoying sentiment across the euro-area and within export-dependent CE.

Baku seeks to widen its contacts in Balkans

2015 ◽  
Keyword(s):  
Eastern Europe ◽  
Foreign Investment ◽  
Prime Minister ◽  
Content Type ◽  
Economic Relations ◽  
South Eastern ◽  
Balkan Countries ◽  
South Eastern Europe ◽  
Export Destination ◽  
The Eu

Subject Azerbaijan's rising profile in South-eastern Europe, both as hydrocarbons supplier and source of investment. Significance Serbian Prime Minister Aleksandar Vucic's visit to Baku on April 13-15 to promote Azerbaijani investment in strategic infrastructure, agriculture and the chemicals industry is only the latest in a series of contacts. Relations with Azerbaijan are principally about the delivery and transit of gas, with the Trans-Adriatic Pipeline (TAP) coming on stream in 2019-20. However, Balkan countries are increasingly looking to Baku as a source of foreign investment and an export destination. Impacts Balkan countries will be key for the transit of Caspian gas to the EU. Azerbaijan will continue working with them, in order to diversify its diplomatic and economic relations. In a region still suffering prolonged recession, governments will scramble to build and capitalise on ties with Baku.

Turkish lira faces fragility despite AKP victory

2015 ◽  
Keyword(s):  
Public Sector ◽  
Interest Rate ◽  
Current Account ◽  
Significant Proportion ◽  
Content Type ◽  
Balance Sheets ◽  
The Past ◽  
Current Account Deficits ◽  
One Year ◽  
Turkish Lira

Significance However, serious concerns remain about the credibility of Turkey's Central Bank (CBRT), whose refusal to mount an interest rate defence of the lira accentuates the risks posed by Turkish banks' large dollar-denominated debts, a significant proportion of which fall due within one year. Impacts Sentiment towards EMs has improved noticeably over the past month, with EM equities 5% up, despite indications of a December Fed rate rise. EM current account deficits are now less of a concern for investors, partly because they have narrowed since 2013. Markets are also now more concerned about China and the lack of growth. EM public-sector balance sheets have become significantly stronger since the late 1990s. The marked increase in the private sector's external indebtedness is now the key source of vulnerability for EMs.

Ethiopia’s Tigray crisis puts privatisations at risk

2021 ◽  
Keyword(s):  
Current Account ◽  
Growth Rates ◽  
International Aid ◽  
Economic Recovery ◽  
High Current ◽  
Political Uncertainty ◽  
Content Type ◽  
The Past ◽  
Current Account Deficits ◽  
Double Digit

Significance However, amid ongoing conflict in Tigray and considerable political uncertainty around the upcoming elections, the outcome may be disappointing. Impacts Despite improving FDI and some debt relief, forex reserves will likely remain depressed due to persistently high current account deficits. International aid suspended due to the Tigray conflict may not be released until the second half of the year. Economic recovery should become more noticeable from early 2022, but double-digit growth rates will remain a thing of the past.

USING HISTORICAL ANNUAL REPORTS IN TEACHING: LETTING THE PAST BENEFIT THE PRESENT

1992 ◽  
Vol 19 (1) ◽  
pp. 29-50 ◽  
Author(s):  
Joel Amernic ◽  
Ramy Elitzur
Keyword(s):  
Environmental Change ◽  
Cash Flow ◽  
Accounting Education ◽  
Annual Reports ◽  
The Past ◽  
Response To Environmental Change

In this article, it is suggested that accounting education may be enhanced by the use of published historical accounting materials, such as annual reports. Comparing such materials with modern reports serves to reinforce the notion that accounting evolves in response to environmental change. Further, requiring students to analytically derive cash flow statements from historical published annual reports provides several direct pedagogical benefits.

Investigating interdependencies of sustainable supplier selection criteria: an appraisal using ISM

2020 ◽  
Vol 13 (2) ◽  
pp. 195-210 ◽  
Author(s):  
Avanish Singh Chauhan ◽  
Gaurav Kumar Badhotiya ◽  
Gunjan Soni ◽  
Prem Kumari
Keyword(s):  
Supplier Selection ◽  
Selection Criteria ◽  
Local Community ◽  
Pollution Prevention ◽  
Content Type ◽  
The Past ◽  
Micmac Analysis ◽  
Sustainable Supplier Selection ◽  
Social Environmental ◽  
Practical Implications

Purpose Because of the increased global competition and the need for environment consciousness, organisations have started focusing on incorporating sustainability dimensions into suppler selection criteria. In the past decade, sustainable supplier selection has received much attention from researchers as well as industry practitioners. The purpose of this paper is to identify various sustainable supplier selection criteria (SSSC) and underlying interdependencies among prominent selection criteria to develop a framework for sustainability dimensions. Design/methodology/approach The sustainable criteria for supplier selection were established through comprehensive literature review. An interpretive structural modelling (ISM) approach is used to investigate the interrelationships among these criteria. Findings A total of 21 SSSC under 3 dimensions (social, environmental and economic) are established. Ten criteria related to quality, capability, flexibility, waste management, pollution prevention, local community, employment practice, labour, etc. are exhibiting strong driving as well as dependence power, as demonstrated through ISM and matriced’ impacts croises-multiplication applique’ and classement (MICMAC) analysis. The findings show that delivery/service, eco design and rights of stakeholders are the “key” criteria having a high-driving and low-dependence power. These criteria require high attention from managers, while other criteria having low-driving and high-dependence power require secondary actions. Research limitations/implications The inter-relations for the development of ISM model and MICMAC analysis were obtained through the opinion of industry experts and academicians, which may tend to be subjectively biased. Further exploration is proposed to statistically validate the developed interdependency model. Practical implications This paper might act as a reference for the supplier development managers of organisations by providing an appraisal of various SSSC based on their interdependencies. Originality/value This study contributes to the knowledge base by proposing a framework of the interrelationships of the SSSC and also provides an additional perspective for managing these criteria based on ISM.

FINRA’s disciplinary actions in 2017: increased restitution ordered with minimal changes in number of cases

2018 ◽  
Vol 19 (2) ◽  
pp. 19-23
Author(s):  
Brian Rubin ◽  
Adam Pollet
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Disciplinary Actions ◽  
Financial Industry ◽  
Electronic Communications ◽  
Content Type ◽  
The Past ◽  
Expert Analysis ◽  
Research Analysts ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond. Design/methodology/approach The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues. Findings In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years. Practical implications Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought. Originality/value This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

Taking Peritoneal Dialysis beyond the Year 2000

1999 ◽  
Vol 19 (3_suppl) ◽  
pp. 35-42 ◽  
Author(s):  
Ram Gokal
Keyword(s):  
Peritoneal Dialysis ◽  
Peritoneal Membrane ◽  
Membrane Function ◽  
Fluid Removal ◽  
The Past ◽  
First Choice ◽  
Year 2000 ◽  
Economic Considerations ◽  
Appropriate Prescription ◽  
Better Than

Over the past 25 years, peritoneal dialysis (PD) has steadily improved so that now its outcomes, in the form of patient survival, are equivalent to, and at times better than, those for hemodialysis. We now have a better understanding of the pathophysiology of peritoneal membrane function and damage and the importance of appropriate prescription to meet agreed-upon targets of solute and fluid removal. In the next millennium, greater emphasis will be put on prescription setting and subsequent monitoring. This will entail an increase in automated PD, especially for lifestyle reasons as well as for patients with a hyperpermeable peritoneal membrane. To improve outcomes, dialysis should be started earlier than is currently the case. It is easy to do this with PD, where an incremental approach is made easier by the introduction of icodextrin for long-dwell PD. In the future, solutions will be tailored to be more biocompatible and to provide improved nutrition and better cardiovascular outcomes. Finally, economic considerations favor PD, which is cheaper than in-centre hemodialysis. Thus, for many, PD has become a first-choice therapy, and with further improvements this trend will continue.

Sign in / Sign up

Export Citation Format

Share Document