scholarly journals Financial stability: problems of inter-level and cross-sectoral equilibrium

Equilibrium ◽  
2019 ◽  
Vol 14 (1) ◽  
pp. 53-79
Author(s):  
Galina Gospodarchuk ◽  
Ekaterina Suchkova
Keyword(s):  
Interest Rates ◽  
Financial Stability ◽  
Institutional Environment ◽  
Value Added ◽  
Qualitative Assessment ◽  
Financial Reports ◽  
Financial Flows ◽  
Regulatory Instruments ◽  
The Usa ◽  
The Creation

Research background: As part of the creation of an effective mechanism for managing financial stability, the tasks of providing an inter-level and cross-sectoral financial equilibrium remain unresolved. So far, clear and unambiguous criteria for financial stability have not been formulated, with which monetary and prudential policies could be related, as well as measures to minimize systemic and individual risks. The problem of creating a system of indicators comes to the fore, allowing the creation of new effective instruments for regulation of financial flows that contribute to the prevention of financial crises. Purpose of the article: The paper proposes a system of indicators of financial stability, which allows for solving the tasks of inter-level and cross-sectoral equilibrium in the selection of regulatory tools for monetary and prudential policy. Methods: We have used real interest rates as a measure of financial stability at the macro level. The real rates have been calculated from time series with nominal interest rate and inflation in the credit market (divided into loans to financial and non-financial organizations and individuals), and in the bond market (divided into corporate, municipal, and federal bonds). The analysis of the market and institutional financial stability of the USA, Russia, Japan, Switzerland, Australia over the period 1984–2014 was done. Then, comprehensive investigation on the financial stability in the Russian Federation in 2014–2017 was conducted. The results have been compared against financial stability of individual banks, which was measured using profit to risk ratio. The latter has been calculated from bank’s financial reports using our method, which had been developed earlier. Findings & Value added: We have developed criteria for qualitative assessment of financial stability and the risk map, which helps to identify the level of accumulated imbalances in the market and institutional environment, as well as in the levels and sectors of the economy. The criteria for selecting monetary and prudential regulatory instruments have been formulated depending on the amount of accumulated risks. The criteria for forming a portfolio of regulatory instruments with regard to their rigidity are proposed.

scholarly journals Financial stability instruments for the banking systems of Ukraine

2020 ◽  
Vol 59 ◽  
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Financial Stability ◽  
Banking System ◽  
Classification Criterion ◽  
Financial Flows ◽  
Organizational Influences ◽  
Policy Goals ◽  
Credit Cycle ◽  
The Impact

The article focuses on the issues of systematization, analysis and development of the classification of instruments for ensuring the financial stability of the banking system, which is a determining factor in the formation of the necessary influences to ensure the financial stability of the banking system. For the selection and application of the toolkit that most precisely meets the goals, current conditions and priorities of ensuring the financial stability of the banking system, its classification was supplemented by the introduction of new classification features. In particular, in order to take into account the importance of maintaining the continuous circulation of financial flows in the banking system, their consistency and synchrony, we developed a classification criterion ‘for influencing the inflow and outflow of financial flows’, which makes it possible to use the appropriate instrument to complete such specific tasks as ensuring continuity, streamlining the cost of resources, smoothing the impact on interest rates of liquidity changes. Based on the presence of different levels of regulatory influences on ensuring the financial stability of the banking system – strategic and operational – the classification criteria ‘to influence the achievement of monetary policy operational goals’ and ‘to influence the achievement of strategic monetary policy goals’ were introduced. The classification criterion ‘impact on systemic/state-owned banks’ is justified by the significance of systemically important banks for ensuring the financial stability of the banking system, since a significant concentration of assets and capital in such banks requires the use of special tools aimed at preventing systemic risks. Taking into account the need for balancing the flows of credits provided by the banking system, the impact of risks on banking activities, the classification features of instruments for ensuring the financial stability of the banking system ‘by impact on the credit cycle’, ‘by key risks’, ‘by organizational elements’ were proposed. Allocation of the classification features of the instruments for ensuring the financial stability of the banking system will contribute to the achievement of targeting of regulatory and organizational influences and compliance with the criteria of rationality and adequacy when choosing specific instruments. This will create the basis for the selection and application of such a combination of instruments that most closely meets the goals, current conditions and priorities for ensuring the financial stability of the banking system.

scholarly journals The Impact of the Financial Stability on the Earnings Management Practices

2021 ◽  
Vol 129 ◽  
pp. 03028
Author(s):  
Anna Siekelova
Keyword(s):  
Earnings Management ◽  
Significant Relationship ◽  
Financial Stability ◽  
Management Practices ◽  
Pearson Correlation ◽  
Explanatory Power ◽  
Value Added ◽  
Academic Community ◽  
Financial Reports ◽  
The Impact

Research background: In recent years, the world economy has changed. Earnings management, as a modern phenomenon, plays an important role within the financial world under the condition of globalization. The academic community deals with the issue of the informative value of the reported financial results. The informative value of these results becomes questionable when we realize that managers have not only the motivation but also the ability to use the earnings management techniques to influence these results. Purpose of the article: The aim of the contribution is earnings management detection by using a model with the highest explanatory power, as well as verifying hypotheses about the existence of a statistically significant relationship between earnings management practices and financial stability within a sample of companies. Methods: Based on the results of the explanatory power examination, the modified Jones model is recommended for earnings management detection within the sample of V4 companies. Data were obtained from the Amadeus database. The sample contains 1,480 financial reports of companies from 2019 to 2017. Research is focused on V4 companies that have the sum of total assets higher than 2,000,000 EUR, as well as the sum of operating revenue is higher than 100,000 EUR. Also, the Pearson correlation coefficient was used to test the hypotheses about the existing statistically significant relationship between financial stability and earnings management practices. Findings & Value added: The article provides an overview of the earnings management issue within V4 countries. It examines the earnings management practices and the impact of financial stability on the level and direction of earnings management practices.

scholarly journals PENGARUH HUMAN CAPITAL TERHADAP ECONOMIC VALUE ADDED PADA SEKTOR UMKM DI PROVINSI BALI

2020 ◽  
Vol 9 (3) ◽  
pp. 243
Author(s):  
Komang Agus Rudi Indra Laksmana ◽  
I Ketut Merta
Keyword(s):  
Human Capital ◽  
Defense Mechanisms ◽  
Small And Medium Enterprises ◽  
Economic Value ◽  
Value Added ◽  
Economic Value Added ◽  
Financial Reports ◽  
Research Findings ◽  
The Creation ◽  
Medium Enterprises

Micro, Small and Medium Enterprises (MSMEs) have a role in accelerating the economy of the community. The quality of MSMEs is largely determined by competitive advantage by utilizing resources that focus on developing or obtaining valuable resources and capabilities. The UMKM sector with intangible assets of MSME players, namely human capital towards the creation of economic value added or Economic Value Added (EVA) in MSMEs. The purpose of this study was to examine and explain the effect of human capital of MSME players in Bali on the achievement of Economic Value Added (EVA). This study uses a positivism approach. The population in this study was the UMKM in Bali Province, amounting to 450 UMKM, with a research sample of 212 MSMEs in Bali Province. The results of research findings that human capital have a significant positive effect on the creation of economic value added (EVA) in MSMEs. The average level of EVA on MSMEs is negative, which means that in general, MSMEs in Bali province have not been able to achieve EVA in their business management.The limitation in this study is the incomplete availability of MSME financial reports. In addition, further research is expected to add other contingencies, such as personality and defense mechanisms.

IMPROVEMENT AND ADAPTATION OF THE FAYOUMI CHICKEN

1994 ◽  
Vol 14 ◽  
pp. 33-39 ◽  
Author(s):  
M. A. Hossaryl ◽  
E. S. E. Galal
Keyword(s):  
Genetic Material ◽  
Research Station ◽  
Cooperative Society ◽  
Tropical Conditions ◽  
The Usa ◽  
The Creation ◽  
The Uk ◽  
The 19Th Century ◽  
Actual Prevalence

SUMMARYThe Fayoumi (Oasis/Province of Fayotimi) or Ramadi (village of Dar-el-Ramad) breed of chicken is said to have been introduced into this area in the early part of the 19th century; phenotypically it recalls the Silver Campine from which it is reputed to descend. A hardy and well adapted breed it was saved through the creation of the Fayoumi Poultry Research Station in 194é, which also assured an active improvement policy of the breed. The creation in 1958 of the Fayoumi Poultry Cooperative Society further strengthened the conservation of the breed and its use through distribution of genetic material to farmers and smallholders of the Fayoumi province. Since the early é0's the breed is reported to have been successfully introduced to countries as different as the UK and the USA, Vietn@ Iraq, Pakistan and India. Its adaptability and resistance to the problems of xyrotherrnic tropical and sub-tropical conditions is confirmed by its actual prevalence in Southern Egypt.

scholarly journals Multicentre methodological study to create a publicly available score of hospital financial standing in the USA

BMJ Open ◽  
2021 ◽  
Vol 11 (7) ◽  
pp. e046500
Author(s):  
Radoslav Zinoviev ◽  
Harlan M Krumholz ◽  
Richard Ciccarone ◽  
Rick Antle ◽  
Howard P Forman
Keyword(s):  
Gold Standard ◽  
Financial Stability ◽  
Credit Rating ◽  
Financial Data ◽  
Composite Score ◽  
Methodological Study ◽  
Bond Ratings ◽  
Hospital Operations ◽  
Initial Dataset ◽  
The Usa

ObjectivesTo create a straightforward scoring procedure based on widely available, inexpensive financial data that provides an assessment of the financial health of a hospital.DesignMethodological study.SettingMulticentre study.ParticipantsAll hospitals and health systems reporting the required financial metrics in the USA in 2017 were included for a total of 1075 participants.InterventionsWe examined a list of 232 hospital financial indicators and used existing models and financial literature to select 30 metrics that sufficiently describe hospital operations. In a set of hospital financial data from 2017, we used principal coordinate analysis to assess collinearity among variables and eliminated redundant variables. We isolated 10 unique variables, each assigned a weight equal to the share of its coefficient in a regression onto Moody’s Credit Rating, our predefined gold standard. The sum of weighted variables is a single composite score named the Yale Hospital Financial Score (YHFS).Primary outcome measuresAbility to reproduce both financial trends from a ‘gold-standard’ metric and known associations with non-fiscal data.ResultsThe validity of the YHFS was evaluated by: (1) cross-validating it with previously excluded data; (2) comparing it to existing models and (3) replicating known associations with non-fiscal data. Ten per cent of the initial dataset had been reserved for validation and was not used in creating the model; the YHFS predicts 96.7% of the variation in this reserved sample, demonstrating reproducibility. The YHFS predicts 90.5% and 88.8% of the variation in Moody’s and Standard and Poor’s bond ratings, respectively, supporting its validity. As expected, larger hospitals had higher YHFS scores whereas a greater share of Medicare discharges correlated with lower YHFS scores.ConclusionsWe created a reliable and publicly available composite score of hospital financial stability.

Counter-cyclical public venture capital: Debt-funding as an anti-austerity innovation strategy

2017 ◽  
Vol 56 (3) ◽  
pp. 477-495 ◽  
Author(s):  
Alex Etzkowitz ◽  
Henry Etzkowitz
Keyword(s):  
Venture Capital ◽  
Interest Rates ◽  
Innovation Strategy ◽  
Productive Capacity ◽  
Knowledge Based ◽  
Low Interest Rates ◽  
The Usa ◽  
The Business Cycle ◽  
Smart Specialization ◽  
Private Venture

This article outlines a counter-cyclical innovation strategy to achieve prosperity, derived from an innovative project, the California Institute for Regenerative Medicine (CIRM). We identify an ‘innovation paradox’ in that the very point in the business cycle, when legislators are tempted to view austerity as a cure for economic downturns and to reduce innovation spend, is when an increase is most needed to create new industries and jobs and innovate out of recession or depression. It is both desirable and possible that policymakers resist the urge to capitulate to the innovation paradox. During periods that exhibit subdued inflation, elevated spare productive capacity, and low government borrowing rates, governments should increase their borrowings and use the proceeds to boost investment targeted towards innovation. We show how the State of California successfully utilized debt financing, traditionally reserved for physical infrastructure projects, to stimulate the development of intellectual infrastructure. Finally, we recommend a halt to European austerity policies and a ‘triple helix’ broadening of narrow ‘smart specialization’ policies that chase a private venture capital chimera. Europe should seize the present macroeconomic opportunity of low interest rates, borrow for innovation and be paid back manifold by ‘picking winners’, similarly to what the USA has been doing through DARPA (Defense Advanced Research Projects Agency) with GPS, as a response to Sputnik, the Internet and artificial intelligence, or the driverless car, formerly known as the ‘autonomous land vehicle’ in its military guise. Proactively targeted macroscopic investments in innovation are needed to solve the productivity/employment puzzle and foster the transition to a knowledge-based society.

Indigenous reporting of a national housing corporation

2018 ◽  
Vol 36 (2) ◽  
pp. 221-233 ◽  
Author(s):  
Alistair Brown
Keyword(s):  
Papua New Guinea ◽  
Financial Reporting ◽  
Local Level ◽  
New Guinea ◽  
Financial Statements ◽  
Financial Reports ◽  
Content Type ◽  
Housing Corporation ◽  
Regulatory Instruments ◽  
National Housing

Purpose The purpose of this paper is to assess the level of reporting compliance achieved by the National Housing Corporation (NHC) of Papua New Guinea in terms of local indigenous reporting expectations. Design/methodology/approach Testing of a framework of indigenous accountability through indigenous enactments and regulations is conducted by textual analysis, which is informed by the theory of indigenous alternatives to assess the financial reporting compliance of the NHC of Papua New Guinea’s financial statements for years ending 2004-2013. Findings Documentary evidence of the state auditor reports of the NHC’s financial statements reveals that the corporation’s financial reports are not submitted for audit on a timely basis and receive disclaimed audit opinions. Despite the clear indigenous reporting expectations raised by local legislative and regulatory instruments, the NHC is unable or unwilling to provide an accurate account of their activities. Practical implications The lack of compliant reporting suggests that the planning, management and monitoring of the housing needs of residents of Papua New Guinea are compromised. There also appears merit in asking why parliament continues to fund the corporation given its difficulties in meeting local-level reporting expectations. Social implications The results have wider implications for the reporting ideologies of indigenous-run housing corporations operating in other developing countries. It might be fruitful to meet local reporting expectations before taking on the specialized reporting that accompanies introduced western-oriented policies on housing. Originality/value Accountability in relation to indigenous property management is constructed through a lens of reporting issues facing a developing country housing corporation.

The Contemporary Growth Regime Has Been Ensured by the Australian State's Mutations (at Least until Now)

2008 ◽  
Vol 19 (1) ◽  
pp. 3-23 ◽  
Author(s):  
Lynne Chester
Keyword(s):  
Macroeconomic Policy ◽  
Growth Regime ◽  
Australian State ◽  
Regulatory Instruments ◽  
The Creation ◽  
Micro Structuring ◽  
Sphere Of Influence ◽  
Mode Of Regulation

With the ascendancy of neoliberalism, the Australian state has not only remained strongly interventionist but has also expanded its sphere of influence and scope of activity. This is contrary to claims of a reduced, withered or slimmed neoliberal state. The Australian state's interventions have become increasingly varied in the overwhelming pursuit of structural competitiveness. It has developed an extensive ‘micro-structuring’ role, particularly through the creation of new regulatory instruments and institutions, but has not relinquished its economic ‘macro-structuring’ role notwithstanding changes to macroeconomic policy priorities. The Australian state's interventions have shaped all institutional forms comprising the mode of régulation that guides and supports the accumulation regime. This article discusses the reconfiguration of the Australian state and the forms of its ongoing interventions which have secured and sustained the contemporary growth regime.

Žinių valdymo įtaka organizacijos procesų pridėtinės vertės kūrimui

2021 ◽  
Author(s):  
◽  
Justas Gribovskis
Keyword(s):  
Knowledge Management ◽  
Business Processes ◽  
Value Added ◽  
The Creation

The influence of knowledge management on the creation of value added by business processes

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