scholarly journals Distinctive determinants of financial indebtedness: evidence from Slovak and Czech enterprises

Equilibrium ◽  
2021 ◽  
Vol 16 (3) ◽  
pp. 639-659
Author(s):  
Katarina Valaskova ◽  
Tomas Kliestik ◽  
Dominika Gajdosikova
Keyword(s):  
Financial Stability ◽  
Economic Recession ◽  
Value Added ◽  
Pairwise Comparison ◽  
Debt Management ◽  
Legal Form ◽  
Policy Makers ◽  
Construction Enterprises ◽  
Sample Pair

Research background: Indebtedness indicators are used to monitor the structure of corporate financial resources. The company's share of its own and foreign resources affects the financial stability of the company. A high share of own re-sources makes the company stable, and independent. With a low share, on the contrary, the company is unstable, market fluctuations and credit uncertainty can have serious consequences. However, foreign capital is cheaper, and too high indebtedness ratios can jeopardize the existence of enterprises. Purpose of the article: In general, the economic recession worsens the capital structure of enterprises, especially their debt management. Thus, the paper aims to apply the set of 13 indebtedness ratios to a sample of 779 Slovak and Czech enterprises from the construction sector to determine key microeconomic determinants that may influence the level of indebtedness. Methods: A non-parametric one-way analysis of variance ? the Kruskal-Wallis test ? was used to determine whether the set of indebtedness ratios is the same across countries, districts, and sizes. For analyzing the specific sample pair of stochastic dominance, the pairwise comparison was realized using the Dunn'stest with Bonferonni correction. The Mann-Whitney test was used to compare the differences in the set of indebtedness ratios between two independent groups of enterprises, based on their legal form and country. Findings & value added: The level of total indebtedness ratio and the self-financing ratio depends on the region as well as on the size of the enterprise and the legal form. In the case of credit indebtedness and debt-to-cash-flow indebted-ness, their dependence on the size of the enterprise and the legal form is obvious. The importance of the region and the legal form of enterprises, vice versa, affect the level of the financial independence ratio. These outputs are relevant for au-thorities, policy makers, or financial institutions to identify financial constraints that construction enterprises face and, as a result, make a long-term contribution to theory in this field.

scholarly journals Long-term Development of National Human Capital. Evidence from China and Poland

2020 ◽  
Vol 12 (3) ◽  
pp. 30-66
Author(s):  
Łukasz Bryl
Keyword(s):  
Human Capital ◽  
Research Collaboration ◽  
Tertiary Education ◽  
Value Added ◽  
Human Capital Development ◽  
Policy Makers ◽  
Industry Research ◽  
National Human ◽  
Capital Development

AbstractObjective: The aim of this paper is to present the long-term development of the chosen human capital indices that uncovers and compares the outcome of the national efforts performed by the two culturally distant countries (China and Poland) over the decade. Additionally, paper indicates the areas of further HC progress in both nations.Methodology: The study was based on measuring human capital with the help of deliberately chosen set of macroeconomic indices (28 items) referring to the nations’ capability to create innovations. Analysis was performed for the 2007–2017 years.Findings: Positive phenomena in the case of human capital development outperform the negative ones in both countries, however, the extent is more remarkable in the case of China. China managed to: improve greatly the pupil-teacher ratio (both in primary and secondary schools), increase secondary and tertiary education enrolment rate along with the rise of the no. of students from abroad. In Poland, the greatest increase was observed in the case of the number of researchers what consequently contributed to the improvement of number of scientific and technical articles and citable documents (h-index).Value Added: To the best Author’s knowledge this is the first paper that compares national human capital development in Poland and China with a set of indices focused on capability to create innovations and adopts longitudinal approach.Recommendations: Policy-makers in the case of Poland should concentrate on: fostering university/industry research collaboration, improving rank in worldwide QS classification and performing more efforts to attract and retain talents. Moreover, the negative trends should be reversed with regard to: PISA scores and general quality of education system. In turn, Chinese authorities should facilitate better PISA scores and increase the presence of scientific and technical articles.

BIG TECH BANKING

2018 ◽  
Vol 14 (4) ◽  
pp. 494-526 ◽  
Author(s):  
Miguel de la Mano ◽  
Jorge Padilla
Keyword(s):  
Financial Stability ◽  
Positive Impact ◽  
Small And Medium Enterprises ◽  
Low Cost ◽  
Consumer Welfare ◽  
Retail Banking ◽  
Policy Makers ◽  
Medium Enterprises ◽  
New Industry

Abstract In this paper we explore the likely implications of the entry of Big Tech platforms into retail banking and the appropriate response of regulators and policy makers to this new industry development. We find that the entry of Big Tech platforms may transform the banking industry in radical ways: although it may possibly increase competition to the benefit of consumers in the short term, within a few years Big Tech companies may succeed in monopolizing the origination and distribution of loans to consumers and Small and Medium Enterprises (SMEs), forcing traditional banks to become “low cost manufacturers,” which merely fund the loans intermediated by the Big Techs. This situation may harm competition, reduce consumer welfare, and bring about an increase in financial instability in the medium or long term. We analyze alternative policy responses aimed at maximizing the positive impact on consumer welfare of Big Tech entry while limiting the risk of monopolization as well as the potential adverse implications of such entry on market integrity and financial stability.

scholarly journals National and Foreign-controlled Companies Operating in Development Activities in Czechia and Aspects of their Capital Structure Management

2021 ◽  
Vol 129 ◽  
pp. 03013
Author(s):  
Dagmar Kalová ◽  
Karel Brychta
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Value Added ◽  
High Standard ◽  
Equity Capital ◽  
Return On Equity ◽  
Foreign Control ◽  
High Level ◽  
The Impact

Research background: Entities operating in the field of development activities show significant specifics, including a high level of indebtedness. Given the nature of development projects, which are long-term, and their financial complexity, companies take, at the same time, high risks. Therefore, there is need of a high standard of financial management and risk management in this type of companies. Purpose of the article: The aim of the paper was to provide information regarding return on equity and point out the risk factors of financial management. A partial aim of the conducted preliminary research was to identify and evaluate selected differences in financial management of national companies and foreign-controlled companies. Methods: The research was conducted as mixed research. It started with the undertaking of qualitative research focused on textual analysis of the text and collection of selected relevant quantitative data. For evaluation, we used INFA methodology, which links financial controlling and risk controlling indicators. The data under investigation were those related to the evaluation of return on equity in relation to risks taken. The indicators of the assets, self-financing ratio and debt ratio were assessed, including the assessment of the impact of these factors on return on equity and taken risks. Findings & Value added: The research provides new knowledge regarding the extent to which equity capital is used in the financial management of companies operating in the Czech Republic in development activities. The results indiciate that companies under foreign control and domestic companies show differences in financial structure and financial stability indicators, as well as in the effectiveness of using their capital.

Influence of internal and external risks on sustainability of financial system of Аltai krai

2018 ◽  
Vol 35 (4) ◽  
pp. 133-136
Author(s):  
R. N. Ibragimov
Keyword(s):  
Sustainable Development ◽  
Financial Stability ◽  
Management Strategy ◽  
Financial System ◽  
Risk Management Strategy ◽  
The Sustainable Development ◽  
The Stability ◽  
The Impact

The article examines the impact of internal and external risks on the stability of the financial system of the Altai Territory. Classification of internal and external risks of decline, affecting the sustainable development of the financial system, is presented. A risk management strategy is proposed that will allow monitoring of risks, thereby these measures will help reduce the loss of financial stability and ensure the long-term development of the economy of the region.

Financial Sustainability and Infrastructure Finance

2018 ◽  
Author(s):  
Felipe Carvalho de Rezende
Keyword(s):  
Financial Institutions ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Financial Sustainability ◽  
Infrastructure Finance ◽  
Strategic Role ◽  
Development Banks ◽  
The Global Financial Crisis ◽  
Capital Development

Among the lessons that can be drawn from the global financial crisis is that private financial institutions have failed to promote the capital development of the affected economies, and to dampen financial fragility. This chapter analyses the macroeconomic role that development banks can play in this context, not only providing long-term funding necessary to promote economic development, but also fostering financial stability. The chapter discusses, in particular, the need for public financial institutions to provide support for infrastructure and sustainable development projects. It concludes that development banks play a strategic role by funding infrastructure projects in particular, and outlines the lessons for enhancing their role as catalysts for mitigating risks associated with such projects.

scholarly journals Queensland Family Cohort: a study protocol

BMJ Open ◽  
2021 ◽  
Vol 11 (6) ◽  
pp. e044463
Author(s):  
Danielle Borg ◽  
Kym Rae ◽  
Corrine Fiveash ◽  
Johanna Schagen ◽  
Janelle James-McAlpine ◽  
...  
Keyword(s):  
Mental Health ◽  
Family Environment ◽  
Biological Samples ◽  
Local Governments ◽  
Financial Stability ◽  
Federal State ◽  
Physical And Mental Health ◽  
Future Health ◽  
The Impact

IntroductionThe perinatal–postnatal family environment is associated with childhood outcomes including impacts on physical and mental health and educational attainment. Family longitudinal cohort studies collect in-depth data that can capture the influence of an era on family lifestyle, mental health, chronic disease, education and financial stability to enable identification of gaps in society and provide the evidence for changes in government in policy and practice.Methods and analysisThe Queensland Family Cohort (QFC) is a prospective, observational, longitudinal study that will recruit 12 500 pregnant families across the state of Queensland (QLD), Australia and intends to follow-up families and children for three decades. To identify the immediate and future health requirements of the QLD population; pregnant participants and their partners will be enrolled by 24 weeks of gestation and followed up at 24, 28 and 36 weeks of gestation, during delivery, on-ward, 6 weeks postpartum and then every 12 months where questionnaires, biological samples and physical measures will be collected from parents and children. To examine the impact of environmental exposures on families, data related to environmental pollution, household pollution and employment exposures will be linked to pregnancy and health outcomes. Where feasible, data linkage of state and federal government databases will be used to follow the participants long term. Biological samples will be stored long term for future discoveries of biomarkers of health and disease.Ethics and disseminationEthical approval has been obtained from the Mater Research Ethics (HREC/16/MHS/113). Findings will be reported to (1) QFC participating families; (2) funding bodies, institutes and hospitals supporting the QFC; (3) federal, state and local governments to inform policy; (4) presented at local, national and international conferences and (5) disseminated by peer-review publications.

scholarly journals Solo self-employment, entrepreneurial subjectivity and the security–precarity continuum: Evidence from private tutors in the supplementary education industry

2021 ◽  
pp. 0308518X2110092
Author(s):  
Sarah L Holloway ◽  
Helena Pimlott-Wilson
Keyword(s):  
Occupational Choice ◽  
Entrepreneurial Activity ◽  
Development Economic ◽  
Long Term Outcomes ◽  
Dominant Form ◽  
Policy Makers ◽  
Supplementary Education ◽  
Self Employment ◽  
Education Industry

Entrepreneurship is regarded by policy makers and politicians as an accelerant for economic development. Economic geography demonstrates that rather than stimulating entrepreneurship in general, policy makers should support specific forms of entrepreneurship that fuel wider growth. The paper's original contribution is to insist that entrepreneurship research must also explore less growth-oriented, but crucially very widespread, forms of entrepreneurial activity. The paper therefore places solo self-employment – the self-employed without employees – centre stage as an exemplar of this trend. Research is presented on private tutors who run businesses from home, offering children one-to-one tuition in the burgeoning supplementary education industry. The paper scrutinises the causes, configuration and consequences of such solo self-employment as an economically marginal, but numerically dominant, form of entrepreneurship. In so doing, it makes three conceptual advances in the exploration of heterogeneous entrepreneurship. First, in examining why individuals become self-employed, the paper moves beyond classic efforts to understand entrepreneurship through binary push/pull mechanisms in models of occupational choice. Instead, the analysis demonstrates the importance of risk in entrepreneurship and paid employment, highlighting the multiple pathways into solo self-employment as opportunities and constraints coalesce in individual's lives. Secondly, in considering how the solo self-employed think about business, the research breaks through conventional definitions of entrepreneurship to demonstrate that solo self-employment involves a distinctively entrepreneurial subjectivity and practices. Thirdly, by investigating the consequences of solo self-employment, the findings transcend dualist interpretations of self-employment as the realm of entrepreneurial wealth or economic precarity, highlighting instead a security–precarity continuum in immediate and long-term outcomes.

OP48 Nursing Requirements In Long-Term Care: A Health Technology Assessment

2019 ◽  
Vol 35 (S1) ◽  
pp. 11-12
Author(s):  
Paula Corabian ◽  
Charles Yan ◽  
Susan Armijo-Olivo ◽  
Bing Guo
Keyword(s):  
Nursing Care ◽  
Nursing Staff ◽  
Real World ◽  
Research Evidence ◽  
Long Term Care ◽  
Staff Time ◽  
Term Care ◽  
Policy Makers ◽  
The Relationship

IntroductionThe objectives of this study were to systematically review published research on the relationship between nursing staff coverage, care hours, and quality of care (QoC) in long-term care (LTC) facilities; and to conduct a real world evidence (RWE) analysis using Alberta real world data (RWD) to inform policy makers on whether any amendments could be made to current regulations.MethodsA systematic review (SR) of research evidence published between January 2000 and May 2018 on the relationship between nursing staff coverage, care hours, and QoC in LTC facilities was conducted. Panel data regressions using available RWD from Alberta, Canada, were performed to assess associations between nursing care hours and LTC outcomes. Outcomes of interest included quality indicators related to resident outcomes, hospital admissions, emergency room visits and family satisfaction. Nursing care hours considered in SR and RWE analysis included those provided by registered nurses (RNs) and licensed practical nurses (LPNs).ResultsThe SR found inconsistent and poor quality evidence relevant to the questions of interest, indicating a great uncertainty about the association between nursing staff time and type of coverage and QoC. Although some positive indications were suggested, major weaknesses of reviewed studies limited interpretation of SR results. RWE analysis found that impact of care hours on LTC outcomes was heterogeneous, dependent on outcome measurements. There was evidence that total staff, RN, and LPN hours had positive effects on some resident outcomes and magnitude of effect differed for different nursing staff.ConclusionsNo definitive conclusion could be drawn on whether changing nursing staff time or nursing staff coverage models would affect residents’ outcomes based on the research evidence gathered in the SR. RWE analysis helped to fill a gap in the available published literature and allowed policy makers to better understand the impact of revising current regulations based on actual outcomes.

scholarly journals EU Labor Market Inequalities and Sustainable Development Goals

2021 ◽  
Vol 13 (5) ◽  
pp. 2675
Author(s):  
Elena Jianu ◽  
Ramona Pîrvu ◽  
Gheorghe Axinte ◽  
Ovidiu Toma ◽  
Andrei Valentin Cojocaru ◽  
...  
Keyword(s):  
Sustainable Development ◽  
Labor Market ◽  
Policy Issue ◽  
Policy Makers ◽  
Public Policy Issue ◽  
Development Goals ◽  
To Come ◽  
Business Practitioners ◽  
The Eu

Reducing inequalities for EU citizens and promoting upward convergence is one of the priorities on the agenda of the European Commission and, certainly, inequality will be a very important public policy issue for years to come. Through this research we aim to investigate EU labor market inequalities, reflected by the specific indicators proposed for Goal 8 assumed by the 2030 Agenda for Sustainable Development, based on cluster analysis for all the 27 Member States. The research results showed encouraging results from the perspective of convergence in the EU labor market, but also revealed a number of analyzed variable effects that manifested regional inequalities that were generated in the medium and long term. Based on the observations made, we want to provide information for policy-makers, business practitioners, and academics so as to constitute solid ground for identifying good practices and proposing to implement policies aimed at reducing existing inequalities and supporting sustainable development.

scholarly journals Shared socioeconomic pathways for climate change research in Finland: co-developing extended SSP narratives for agriculture

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Heikki S. Lehtonen ◽  
Jyrki Aakkula ◽  
Stefan Fronzek ◽  
Janne Helin ◽  
Mikael Hildén ◽  
...  
Keyword(s):  
Climate Change ◽  
National Level ◽  
Global Scale ◽  
Change Scenario ◽  
Policy Makers ◽  
Climate Change Research ◽  
Food And Agriculture ◽  
Agriculture And Food ◽  
Farm Subsidies

AbstractShared socioeconomic pathways (SSPs), developed at global scale, comprise narrative descriptions and quantifications of future world developments that are intended for climate change scenario analysis. However, their extension to national and regional scales can be challenging. Here, we present SSP narratives co-developed with stakeholders for the agriculture and food sector in Finland. These are derived from intensive discussions at a workshop attended by approximately 39 participants offering a range of sectoral perspectives. Using general background descriptions of the SSPs for Europe, facilitated discussions were held in parallel for each of four SSPs reflecting very different contexts for the development of the sector up to 2050 and beyond. Discussions focused on five themes from the perspectives of consumers, producers and policy-makers, included a joint final session and allowed for post-workshop feedback. Results reflect careful sector-based, national-level interpretations of the global SSPs from which we have constructed consensus narratives. Our results also show important critical remarks and minority viewpoints. Interesting features of the Finnish narratives compared to the global SSP narratives include greater emphasis on environmental quality; significant land abandonment in SSPs with reduced livestock production and increased plant-based diets; continued need for some farm subsidies across all SSPs and opportunities for diversifying domestic production under scenarios of restricted trade. Our results can contribute to the development of more detailed national long-term scenarios for food and agriculture that are both relevant for local stakeholders and researchers as well as being consistent with global scenarios being applied internationally.

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