Specifics of capital structure management of electronic commerce market leaders

2020 ◽  
Vol 16 (5) ◽  
pp. 905-919
Author(s):  
R.O. Voskanyan
Keyword(s):  
Capital Structure ◽  
Customer Service ◽  
Financial Statements ◽  
Financial Resources ◽  
Ratio Analysis ◽  
Timely Manner ◽  
Aggressive Approach ◽  
Scientific Methods ◽  
General Scientific ◽  
Management Policies

Subject. The article addresses leader companies of the e-commerce market in terms of sales and capitalization, that make their financial statements publicly available. Objectives. The aim is to identify special aspects of capital structure management policies of the largest e-commerce players based on ratio analysis. Methods. The study employs general scientific methods of research. Results. The paper reveals the specifics of capital structure management of the global e-commerce market leaders. The leading companies prefer an aggressive approach to the formation of their capital structure, increasing the volume of borrowed capital in comparison with their equity. The management of companies tries to provide a moderate approach to capital structure management and debt servicing, demonstrating the ability to repay debts in a timely manner. Aggressive capital structure policy is conditioned by specific activities of e-commerce companies, requiring constant search for and attraction of additional financial resources for improving production processes by management. Conclusions. Key players have an aggressive capital structure policy. This feature is necessitated by the need to systematically attract additional financing to expand the business, increase sales volumes, capture and create new markets. E-commerce companies have to constantly improve technology, logistics processes, and render a good and excellent customer service.

scholarly journals PROSPECTS FOR THE ESTABLISHMENT OF A SOVEREIGN WELFARE FUND IN UKRAINE IN THE CONTEXT OF RESPONDING TO THE LATEST CHALLENGES TO PUBLIC WELFARE

2020 ◽  
pp. 109-116
Author(s):  
Volodymyr Horyn ◽  
Viktoria Bulavynets
Keyword(s):  
Social Consequences ◽  
Public Welfare ◽  
Financial Resources ◽  
Negative Consequences ◽  
Sovereign Wealth Funds ◽  
Scientific Methods ◽  
Dialectical Approach ◽  
National Welfare ◽  
General Scientific ◽  
Welfare Fund

Introduction. In modern conditions, the problems of uncontrolled climate change, accompanied by the formation of new challenges to public welfare, become especially acute. The growing human impact on the environment leads to an increase in the number of emergencies, accompanied by a sudden sharp deterioration in the living standards of a large number of people. They also require significant efforts and financial resources to minimize their impact on public welfare. Reserve funds in the budgets are not able to fully meet the need for financial resources to eliminate negative externalities, which raises the question of finding new stabilization tools to address these issues. Methods. The research is based on a dialectical approach to cognition, which ensures its objectivity and complexity. General scientific methods are used in the process of research: analysis, generalization, systematization – to reveal the theoretical foundations of the problem; abstract and logical, argumentation – to develop a conceptual model for the establishment of the National Welfare Fund in Ukraine. Results. It is inserted that in modern conditions there is an increase in the role of sovereign welfare funds and the transformation of views on their purpose. At present, sovereign wealth funds are increasingly seen as a source of solving social and environmental problems. Contradictory attempts to establish special trust funds in Ukraine, which were somewhat similar to sovereign welfare funds, are highlighted. It is substantiated that in Ukraine there are prerequisites for the creation of a sovereign welfare fund, which will have positive economic and social consequences. A feature of the proposed concept of creating this fund in Ukraine is to secure for it the implementation of a program of temporary unconditional basic income, which will minimize the negative consequences of the latest challenges of global development for public welfare. Discussion. Further scientific research of the problem should include substantiation of organizational, legal conditions of functioning of the sovereign welfare fund in Ukraine, assessment of its optimal parameters, development of asset investment policy. Keywords: sovereign welfare fund, social welfare, basic unconditional income, financial resources, extraordinary circumstances.

Finance in the Hospitality and Tourism Sector

2020 ◽  
pp. 166-184
Author(s):  
Adenike A. Adesanmi
Keyword(s):  
Capital Structure ◽  
Structure Formation ◽  
Financial Statements ◽  
New Venture ◽  
Financial Capital ◽  
Ratio Analysis ◽  
The Third ◽  
Tourism Sector ◽  
Hospitality And Tourism ◽  
Shed Light

This chapter is set to shed light on how the hospitality and tourism sector is to shape their assets and liquidity to either begin a new venture or expand an existing one. The first part of the chapter will give an elaborate discussion about raising financial capital in the hospitality and tourism sector. This will strengthen the points that are made under capital structure formation. Financial knowledge of budgeting is an area that deserves its place in these sectors; this is the third major highlight of the chapter. The issue of understanding financial statements, especially its use in making predictions through ratio analysis, require a thorough explanation. This is therefore the next point. The limitations and usefulness of ratio analysis will be touched upon. Finally, in this chapter, determining demand in the hospitality and tourism sector is a contemporary issue, and the review of this will give a better viewpoint.

scholarly journals The Civil Law Principle of Cooperation in the Continental Law Doctrine: Extension Beyond Contractual Legal Relations

2021 ◽  
pp. 346-371
Author(s):  
A. A. Fedoseev ◽  
Keyword(s):  
Civil Law ◽  
Legal Regulation ◽  
Timely Manner ◽  
Scientific Methods ◽  
Property Relations ◽  
Contractual Obligation ◽  
Legal Method ◽  
Special Scientific ◽  
General Scientific ◽  
Contractual Relations

Introduction: the article analyzes the possibility of the civil law principle of cooperation being implemented in various types of relations under civil law. Traditionally, the cooperation principle is considered in both Russian and foreign literature as the principle of fulfillment of a contractual obligation or as a group of additional obligations imposed on the parties to the contract and arising from the good faith principle. A more detailed consideration of the idea if cooperation allows us to draw a conclusion about the feasibility of this principle in other types of relations under civil law. Purpose: to justify the possibility of the cooperation principle being implemented in civil law relations other than contractual relations, namely in property legal relations, pre-contractual legal relations, and obligations from causing harm (protective legal relations). Methods: general scientific dialectical method; special scientific methods such as the method of comparative law, the technical method, the legal-dogmatic method, the historical-legal method. Results: analysis of legal regulation of such relative legal relations as contractual, pre-contractual, and protective, as well as property legal relations as a form of absolute legal relations, has shown that the cooperation principle is successfully implemented in these types of legal relations. Therefore, it is possible to consider this principle to pertain to the branch of civil law as a whole. Conclusions: the cooperation principle performs two functions: first, based on this principle, it is possible to achieve the purpose of civil law relations in a more effective way; second, this principle serves as a mechanism to overcome unforeseen circumstances that prevent the purpose of legal relations from being achieved. These functions are carried out in all the types of legal relations considered: in contractual relations – when there arise obstacles to the performance of a contract not specified in the contractual provisions; in pre-contractual relations – when there arise obstacles to achieving the purpose of negotiations (i.e. conclusion of a civil law contract); in protective relations – when there is a risk of an increase in harm or a risk of inability to fully reimburse damage in a timely manner; in property relations – when there occurs an accidental loss of a thing by the rightsholder.

Return on innovation: Analysis of trends for Russian and foreign companies

2020 ◽  
Vol 19 (8) ◽  
pp. 1567-1586
Author(s):  
M.S. Kuz'min
Keyword(s):  
Development Strategy ◽  
Innovation Management ◽  
Financial Statements ◽  
European Patent ◽  
Scientific Methods ◽  
Foreign Companies ◽  
Research Company ◽  
General Scientific ◽  
Three Stages ◽  
Foreign Enterprises

Subject. The article investigates trends in the value of return on innovation. Objectives. The study aims to identify changes in return on innovation, using the case of leading Russian and foreign companies, to adjust the innovation management mechanism. Methods. I employed general scientific methods of research. Company official websites, market reviews and annual financial statements, patent databases of the European Patent Office, the Questel Orbit intellectual property portal, and the Google Patents search engine served as information base. Results. The study draws on the hypothesis that the value of innovation among Russian companies does not grow, despite the increase in funding for innovation. I tested the hypothesis, based on the working conditions of leading Russian companies in comparison with the performance of foreign companies. The study was conducted in three stages. It revealed divergent dynamics of the value of innovation of domestic and foreign enterprises. However, foreign companies show deviation from the average at a much higher level of the value of return on innovation as compared to Russian companies. Conclusions. Innovation has not become a factor for sustainable development of Russian companies. To change the current situation, it is necessary to reorient company's development strategy to ensure an increasing return on innovation.

scholarly journals Methods of analysis of intangible assets of enterprises

2021 ◽  
pp. 147-157
Author(s):  
Valentyna Yasyshena ◽  
Viktor Pyliavets
Keyword(s):  
Growth Rate ◽  
Financial Reporting ◽  
Food Industry ◽  
Intangible Assets ◽  
Financial Statements ◽  
Scientific Methods ◽  
Number Of Factors ◽  
Logical Method ◽  
General Scientific ◽  
Definition Of

Purpose. The aim of the article is the isolation, systematization and improvement of methodological approaches that must be taken into account when analysing the intangible assets of enterprises. Methodology of research. The theoretical basis of the study is the scientific works of domestic and foreign scientists on the problems of research in the analysis of intangible assets. The methodological basis of the study are general scientific methods (abstraction, comparison, generalization, grouping, systematization, analysis, synthesis), which are used in the analysis of intangible assets; graphical method – for a visual representation of intangible assets, calculated on the basis of financial statements of enterprises; abstract and logical method – to formulate research conclusions. Findings. The successive stages of the methodology of analysis of intangible assets are identified through the definition of the following indicators: value dynamics; the share of intangible assets in the property of the enterprise; suitability; movement; efficiency of use; general trends in efficiency. The obtained results of the method of analysis of intangible assets on the basis of approbation according to the financial statements of food industry enterprises in Vinnytsia region are revealed. It is substantiated and proposed to take into account the main requirements in determining the effectiveness of the use of intangible assets, namely: indicators of the volume of intangible assets in the financial statements are objective; with a sufficient share of intangible assets in the property of the enterprise during the period, their level increases; indicators of suitability, compensation, growth, profitability and turnover and their dynamics are positive. The general trend of efficiency of use of intangible assets, the ratio of the growth rate of intangible assets is maintained to establish at a lower level than the growth rate of revenue from sales of goods, products, works, services and profit. Originality. The requirements that must be taken into account when conducting an analysis of the effectiveness of the use of intangible assets, which, in contrast to the existing approach, are established and substantiated allows you to take into account a number of factors that affect the objective determination of the effectiveness of the use of intangible assets and to approach the analysis objectively. Practical value. The implementation of the recommendations proposed in the publication to improve the methodology of analysis of intangible assets will help increase the efficiency of their use and management. The results of the study have found practical application in the food industry of Ukraine. Key words: intangible assets, analysis, accounting, financial reporting, dynamics, efficiency, food industry.

scholarly journals Cooperation of Territorial Communities: International Experience and New Possibilities for Ukraine

2021 ◽  
Vol 5 ◽  
pp. 111-127
Author(s):  
Andrii Maiev ◽  
Keyword(s):  
International Experience ◽  
Financial Resources ◽  
Present Stage ◽  
Successful Development ◽  
Scientific Methods ◽  
Economic Problems ◽  
Territorial Organization ◽  
Methods Of Synthesis ◽  
General Scientific ◽  
Definition Of

Goal – the research is focused on two main goals: 1) study of international experience of inter‑municipal cooperation which is considered together with the widespread trends for consolidation of communities; 2) definition of the ways for inter‑municipal cooperation development in Ukraine on the basis of the best European practices and taking into account the implementation of the territorial organization reform at the present stage. Research methodology – for the realization of the research the methods of synthesis, generalization, comparison, observation as well as other general scientific methods were used. Score/results – various types of inter‑municipal entities created in different countries, their legislative basis, responsibility area, financial resources and other aspects were examined in the context of further implementation of the best foreign models in Ukraine. Originality/value – as a result of the conducted analysis recommendations were elaborated for the more successful development of inter‑municipal cooperation in Ukraine as an efficient way for the solution of local economic problems and sustain‑able development of communities.

scholarly journals PENGARUH CAPITAL STRUCTURE, INSTITUTIONAL OWNERSHIP, DAN MANAGERIAL OWNERSHIP TERHADAP PROFITABILITAS PERUSAHAAN

2021 ◽  
Vol 16 (2) ◽  
Author(s):  
Sapto Bayu Aji ◽  
Djasmanuddin Djasmanuddin ◽  
Andriono Andriono
Keyword(s):  
Capital Structure ◽  
Institutional Ownership ◽  
Financial Statements ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Return On Equity ◽  
Equity Ratio ◽  
Management Policies ◽  
Positive Effect

Profitability is the end result of a number of company management policies and decisions (Brigham et al., 2001). This study aims to examine the effect of capital structure, institutional ownership, and managerial ownership on company profitability. Capital structure proxied by Debt to Equity Ratio (DER). The company's profitability is proxied by Return on Equity (ROE). The data used are the financial statements of manufacturing companies on the IDX from 2014 – 2018, the results of this study found that capital structure, institutional ownership, and managerial ownership have a positive effect on profitability.  

ANALISIS LAPORAN KEUANGAN UNTUK MENILAI KINERJA KEUANGAN PT. ASTRA AGRO LESTARI Tbk

2019 ◽  
Vol 5 (2) ◽  
pp. 75-88
Author(s):  
M. Shobihin ◽  
Sayekti Suindyah Dwiningwarni ◽  
Supriadi Supriadi
Keyword(s):  
Financial Performance ◽  
Good Condition ◽  
Balance Sheet ◽  
Financial Statements ◽  
Ratio Analysis ◽  
Business Decisions ◽  
Financial Ratio ◽  
Financial Ratio Analysis ◽  
Income Statement ◽  
Quantitative Descriptive

The financial statements serve as a benchmark in assessing the financial performance of the company as the basis for making business decisions. The motivation in conducting this research is to support previous research to see the development condition of one of the oil palm plantation companies. The purpose of this study is to assess the financial performance by using financial ratio analysis and horizontal analysis. The method used in this research is Quantitative Descriptive with analysis design using Term series Analysis. The result of the research based on financial ratio analysis shows the liquidity ratio and solvency ratio in good condition, while the activity ratio and profitability ratio are not good because it is below the industry average of similar companies. Based on horizontal analysis, financial performance fluctuated and influenced internal and external factors such as operational performance and the average price of world palm oil. The limitations of this study are using only two analytical tools and financial statements analyzed only the balance sheet and income statement.

КОМУНІКАТИВНА КОМПЕТЕНТНІСТЬ У ПОЛІТИЧНОМУ ДИСКУРСІ (НА ПРИКЛАДІ ОФІЦІЙНИХ СТОРІНОК НАРОДНИХ ДЕПУТАТІВ У СОЦІАЛЬНІЙ МЕРЕЖІ «ФЕЙСБУК»)

2020 ◽  
pp. 4
Author(s):  
T. Sashchuk
Keyword(s):  
Social Network ◽  
Subject Matter ◽  
Communicative Competence ◽  
Professional Activity ◽  
First Person ◽  
Short Text ◽  
Scientific Methods ◽  
Content Analysis Method ◽  
General Scientific ◽  
Facebook Pages

<div><em>The article presents the results of the study of the communicative competence of the politicians on the basis of the analysis of their messages on their official pages of the Facebook social network. The research used the following general scientific methods: descriptive and comparative, as well as analysis, synthesis and generalization. The quantitative content analysis method with qualitative elements was used to distinguish the peculiarities of information messages that provide communication of the deputies of Verkhovna Rada (Ukrainian Parliament) on their official Facebook pages. Information messages have been analyzed by the following three criteria: subject matter, structure and language.</em></div><p> </p><p><em>For the first time the article draws a parallel between communicative competence and the ability to communicate with voters on the official pages of Facebook which is the most popular social network in Ukraine. As it is established, communicative competence in the analyzed cases is caused not by education, but by previous professional activity of a politician. The most successful and high-quality communication was from the current parliamentarian who worked as a journalist in the past. More than half of the messages that provided successful communication consisted of sufficiently structured short text and a video. The topic covers the activity of the parliamentarian in the Verkhovna Rada and in his district. More than half of the messages are spoken in the first person.</em></p><p><em>The findings of the study can be used in teaching such subjects as Political PR and Electronic PR, and may be of interest to politicians and their assistants.</em><em></em></p><p><strong><em>Key words:</em></strong><em> competence and competency, communicative competence, political discourse, official page of the deputy of Verkhovna Rada of Ukraine on the Facebook social network, subject matter and structure of the information message, first-person narrative, correspondence of communication to the level of communicative competence.</em></p>

YOUTH CRIMINAL SUBCULTURE AS A FACTOR IN THE FORMATION OF THE PERSONALITY OF A MINOR CRIMINAL

2020 ◽  
Vol 10 (3) ◽  
pp. 177-180
Author(s):  
VERA SHUNYAEVA ◽  
Keyword(s):  
Research Method ◽  
Negative Impact ◽  
System Research ◽  
Scientific Methods ◽  
General Scientific ◽  
Definition Of ◽  
A Minor ◽  
Method Analysis

The article is devoted to the research of the youth criminal subculture and its impact on the personality of under-aged. In the course of analysis of this negative impact, a definition of the criminal subculture of under-aged was proposed. The main principles of such a criminal subculture as AUE (the acronym, transcribed from Russian: АУЕ or А.У.Е., comes from «Арестантский уклад един» / “Prisoners Unity (Solidarity)” are defined. The reasons contributing to the development of this negative phenomenon and the typical fea- tures of a minor sharing the ideology of the AUE were identified. The methods for counteracting the AUE were proposed. The method- ological basis of the research is formed by general scientific methods: dialectical, system research method, analysis, synthesis, induction, deduction, analogy, etc., as well as such private scientific methods as comparative legal, formal legal, structural and functional, statistical ones. The authors relied on the results of research by Russian and foreign legal scholars, sociologists, psychologists.

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