scholarly journals THE DETERMINATION OF FINANCIAL STRUCTURE IN AGRICULTURE, FORESTRY AND FISHING INDUSTRY IN SELECTED COUNTRIES OF CENTRAL AND EASTERN EUROPE

2021 ◽  
Vol 24 (3) ◽  
pp. 58-78
Author(s):  
Petra Růčková ◽  
Nicole Škuláňová
Keyword(s):  
Interest Rates ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Current Knowledge ◽  
Generalized Method Of Moments ◽  
Financial Structure ◽  
Fishing Industry ◽  
Inflation Rates

Every economic sector, every single industry, every economy, and even every firm has its specific financial structure. Given that it is not possible to examine thousands of individual companies for scientific purposes, it is necessary to at least examine the differences between individual sectors, industries and countries. At the same time, the formation and optimization of the financial structure is influenced by a myriad of diverse factors that financial managers should take into account in their decisions. Thanks to these facts, more and more researches had been created for over half a century. This research expands knowledge in seven selected countries of Central and Eastern Europe – the Visegrád Group, Bulgaria, Slovenia and Romania. The aim of the research is to evaluate, based on the Generalized Method of Moments, the relationship between the six selected factors and the indebtedness level in companies belonging to the agricultural, forestry and fishing industry. The subject of the research is medium, large and very large companies during the years 2009 to 2016. The research deals with the influence of profitability, liquidity, asset structure, economic development, inflation and interest rates on the total, long-term and short-term indebtedness of companies. The main finding of the research is that companies are influenced by both internal and external determinants. However, even though the industry should be neutral, external determinants – GDP growth rates, inflation rates and interest rates – have a more significant impact on the debt level. The results of this research will not only extend current knowledge in the field of corporate finance, but at the same time, the results may be stimulating in setting support rules for public administration and even European institutions, as the selected industry is strongly linked to subsidy policies.

Transformationsprozesse aus Sicht der evolutorischen Ökonomik

2003 ◽  
Vol 52 (3) ◽  
Author(s):  
Ralph Michael Wrobel
Keyword(s):  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Path Dependency ◽  
Borderline Case ◽  
Evolutionary Approach ◽  
Institutional Evolution ◽  
Mainstream Economics ◽  
Institutional Competition ◽  
Political Entrepreneurs

AbstractThe transformation of former socialist economies in Central and Eastern Europe is a still continuing long-term process. Since explanations and political recommendations by mainstream economics have not been sufficient, research on methodology and theory of transformation is necessary still today. In this paper an evolutionary approach will be introduced to explain the phenomenon of “transformation” as borderline case of long-term institutional evolution. In concrete it will be described as adaptive-imitative step within institutional competition caused by “exit” and “voice” in the Hirschman sense, initiated by political entrepreneurs, channelled by cultural restriction and path dependency and - as consequence of the evolutionary approach - independent of scientific valuation.

scholarly journals Glaciochemistry of Cave Ice: Paradana and Snežna Caves, Slovenia

Geosciences ◽  
2019 ◽  
Vol 9 (2) ◽  
pp. 94
Author(s):  
Anne Carey ◽  
Matija Zorn ◽  
Jure Tičar ◽  
Matej Lipar ◽  
Blaž Komac ◽  
...  
Keyword(s):  
Stable Isotope ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Nutrient Concentrations ◽  
Future Studies ◽  
Major Ion ◽  
Isotope Data ◽  
Lake Waters ◽  
Stable Isotope Data

Cave ice samples collected within karstic terrain have major ion and nutrient concentrations showing that the ice originates from local precipitation modified by the addition of Ca2+ and HCO3− from the dissolution of the local bedrock. Isotopic profiles of Paradana Cave ice are similar to those described in other ice caves in central and eastern Europe, where the profiles are developed through the freezing of cave pool or “lake” waters from the top downward during the onset of the cold portion of the year. Stable isotope data suggest future studies may yield a long-term paleo-environmental record for this location.

scholarly journals Interest Rate Policy Of Selected Central Banks In Central And Eastern Europe

2015 ◽  
Vol 18 (1) ◽  
pp. 25-41
Author(s):  
Tomasz Grabia
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Central Banks ◽  
Theoretical Description ◽  
Interest Rate Policy ◽  
National Bank ◽  
Rate Policy ◽  
Economic Growth Rates

The aim of this article is to present and evaluate interest rate policies of three selected central banks in Central and Eastern Europe (Poland, the Czech Republic, and Hungary) from 2001 to 2013. The study consists of an introduction (Section 1) and three main parts. The introduction contains a theoretical description of the role of interest rate policy, the dilemmas connected with it, as well as an analysis of the strategies and goals of monetary policies of the National Bank of Poland (NBP), the Czech National Bank (CzNB), and the National Bank of Hungary (NBH) in the context of existing legal and institutional conditions. In turn, the first empirical part (Section 2) examines how the analysed central banks responded to changes in inflation, unemployment, and economic growth rates. The tools of the analysis are the nominal and real interest rates of those banks. The subsequent research part (Section 3) attempts to evaluate the degree of the contractionary nature of interest rate policies in specific countries in the context of the Taylor rule. The text ends with a summary (Section 4) encompassing concise conclusions drawn from the earlier analyses.

The Financial Structure of a Life Office

1953 ◽  
Vol 21 ◽  
pp. 141-218 ◽  
Author(s):  
A. T. Haynes ◽  
R. J. Kirton
Keyword(s):  
Adverse Effects ◽  
Interest Rates ◽  
Financial Structure ◽  
General Level ◽  
Life Assurance ◽  
Market Rate ◽  
Asset Distribution ◽  
The Relationship

SynopsisThe authors' purpose in this paper is to analyse the financial structure of a life office and, in particular, the relationship between the assets and liabilities of a life assurance fund. This analysis is based upon the principle that the guarantees of future capital security and of long-term interest yield involved in the contracts issued by a life office should be backed either by “matched assets” providing equivalent guarantees of capital and interest or by sufficient free reserves to cover the possible adverse effects of departure from the “matched assets” position.In Parts I and II of the paper, the principle of “matched assets” is studied in relation to three model offices representing stationary and increasing funds operating under idealised conditions. For each model office the “standard” date-distribution of assets is determined–the distribution which, so far as possible, will insulate the fund from the effects of fluctuations in the market rate of interest upon existing assets and liabilities. The profit or loss resulting from “going long” or “going short”, as compared with the standard asset distribution, is then investigated against the background of a rise or a fall in the general level of interest rates.

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