scholarly journals Organizational characteristics of preparing and conducting IPO transactions in the banking sector

2021 ◽  
Vol 14 (4) ◽  
pp. 456-477
Author(s):  
Vladimir A. BELYAEV
Keyword(s):  
Comparative Analysis ◽  
Economic Activity ◽  
Critical Analysis ◽  
Banking Sector ◽  
Comparative Method ◽  
Organizational Characteristics ◽  
Discounted Cash Flow ◽  
Factors Influencing ◽  
Discounted Cash Flow Valuation ◽  
Credit Institutions

Subject. The article is devoted to the study of the specific features of banks’ IPO preparation and execution. Objectives. The focus is on the critical analysis of special aspects related to IPO of credit institutions. Methods. The study includes analytical methods for collecting and processing of information, as well as the comparative analysis. Results. I highlight the main characteristics of banks’ economic model, summarize the results of researchers' work on the analysis of factors influencing the profitability of credit institutions, analyze methods for evaluating companies for IPO purposes, identify main approaches to the assessment of bank value, and define the most appropriate methods to evaluate banks for IPO purposes. Conclusions. In general, the process of preparation and execution of banking IPOs is similar to IPO execution by other companies. However, the nature of economic activity of banks determines specific methods for assessing the value of banks for IPO purposes. Currently, there is no single preferred method for valuing banks, while there are certain aspects of the use of general methods to determine the value of credit institutions. For the valuation of companies for IPO, mainly comparative and income methods are used. For the valuation of banks, it is preferable to use the comparative method based on P/E and P/B multiples. As for the income method, it is recommended to use discounted cash flow valuation based on FCFE calculation, as well as the dividend discount model.

scholarly journals Patriotism, Political Participation and Women’s Rights: A Critical Analysis of Nigeria’s Fourth Republic

2016 ◽  
Vol 9 (9) ◽  
pp. 15 ◽  
Author(s):  
Godwin Ihemeje
Keyword(s):  
Comparative Analysis ◽  
Political Participation ◽  
Critical Analysis ◽  
Democratic Republic ◽  
Political Rights ◽  
Electoral Outcome ◽  
Secondary Sources ◽  
Factors Influencing ◽  
Long Run ◽  
Fourth Republic

<p>Nigeria is known for recognizing and rewarding veritable achievements of her women in different endeavors. Despite their high demonstration of patriotism, the paper argues that attention given to women’s political rights is inadequate in Nigeria’s fourth democratic republic; resulting to low political participation and poor electoral outcome. This paper relies heavily on secondary sources of data collection and conduct of comparative analysis. It identifies factors influencing low political participation among, and concludes that if those low influencing factors are not effectively addressed, it could weaken their sense of national patriotism in the long run.</p>

scholarly journals Wiarygodność informacyjna banku – perspektywa seniora korzystającego z usług na rynku bankowym

2021 ◽  
Vol 3 (31) ◽  
pp. 133-149
Author(s):  
Grażyna Szustak ◽  
Łukasz Szewczyk
Keyword(s):  
Critical Analysis ◽  
Banking Sector ◽  
False Information ◽  
Banking Services ◽  
Building Trust ◽  
Factors Influencing ◽  
Client Relationship ◽  
Information Credibility ◽  
The Subject ◽  
Information Reliability

The purpose of the article/hypothesis: The aim of the article is to present the essence of a bank's information reliability and its assessment by a selected group of stakeholders, which are seniors. The conducted study allowed for the positive verification of the following research hypothesis: the bank's information reliability is an important factor that influences the bank's assessment by seniors. Methodology: The text has been divided into three parts. Two of them are theoretical and the authors focused here on a critical analysis of the literature on the subject. The first one describes the problem of trust in banks and public guarantees as factors influencing the shape of the sector. The second part focuses on presenting important issues related to the broadly understood information in the bank–client relationship. In the empirical part of the article, a questionnaire study was conducted in which the information reliability was assessed from the perspective of seniors using banking services. Results of the research: The research showed that 75% of the respondents had in practice encountered a situation in which the bank provided incomplete or false information. Two-thirds of the respondents also emphasized that information credibility is an important element of building trust in a bank. On the other hand, less than half of them indicated that the bank's information message was legible. Keywords: public trust, public guarantees, information reliability, banking sector, senior on the banking services market.

Apocrypha from the History of the Jewish Military Union and its Authors

2008 ◽  
pp. 147-176
Author(s):  
Dariusz Libionka
Keyword(s):  
Comparative Analysis ◽  
Critical Analysis ◽  
Communist Regime ◽  
Research Approach ◽  
Warsaw Ghetto ◽  
History Of

This article is an attempt at a critical analysis of the history of the Jewish Fighting Union (JFU) and a presentation of their authors based on documents kept in the archives of the Institute of National Remembrance in Warsaw. The author believes that an uncritical approach and such a treatment of these materials, which were generated under the communist regime and used for political purposes resulted in a perverted and lasting picture of the history of this fighting organisation of Zionists-revisionists both in Poland and Israel. The author has focused on a deconsturction of the most important and best known “testimonies regarding the Warsaw Ghetto Uprising”, the development and JFU participation in this struggle, given by Henryk Iwaƒski, WΠadysΠaw Zajdler, Tadeusz Bednarczyk and Janusz Ketling–Szemley.A comparative analysis of these materials, supplemented by important details of their war-time and postwar biographies, leaves no doubt as to the fact that they should not be analysed in terms of their historical credibility and leads one to conclude that a profound revision of research approach to JFU history is necessary.

SFAS No. 123 Disclosures and Discounted Cash Flow Valuation

2000 ◽  
Vol 14 (2) ◽  
pp. 169-189 ◽  
Author(s):  
Leonard C. Soffer
Keyword(s):  
Cash Flow ◽  
Stock Options ◽  
Stock Option ◽  
Financial Statement ◽  
Employee Stock Options ◽  
Financial Statement Analysis ◽  
Discounted Cash Flow ◽  
Employee Stock Option ◽  
Valuation Technique ◽  
Discounted Cash Flow Valuation

One of the cornerstones of financial statement analysis is the discounted cash flow valuation. Despite the broad use of this valuation technique, and the economic importance of employee stock options to firm values, there is little guidance on how employee stock options should be incorporated in a valuation. This paper provides a comprehensive approach to doing so, including consideration of the income tax implications of option exercises, the simultaneity of equity and option valuation, and the use of the disclosures that were mandated recently by Statement of Financial Accounting Standards No. 123. The paper provides a comprehensive example using Microsoft's fiscal 1997 financial statements and employee stock option disclosure. This paper should be of interest to academics and practitioners involved in corporate valuation and financial statement analysis.

scholarly journals Analysis of work-related accidents and ill-health in Brazil since the introduction of the accident prevention factor

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Helena Eri Shimizu ◽  
Josierton Cruz Bezerra ◽  
Luciano José Arantes ◽  
Edgar Merchán-Hamann ◽  
Walter Ramalho
Keyword(s):  
Health Status ◽  
Occupational Health ◽  
Health Services ◽  
Economic Activity ◽  
Accident Prevention ◽  
Multiplication Factor ◽  
Work Related ◽  
Factors Influencing ◽  
Before And After ◽  
External Causes

Abstract Background Since 2004, Brazil has had a national policy for occupational health and safety. This policy means companies’ tax burden is altered according to the numbers of work-related accidents and ill-health amongst their workers. In 2010, a multiplication factor was introduced to this policy, called the Accident Prevention Factor. The idea of this new multiplication factor is to encourage individual employers to take initiatives to prevent accidents and ill health in the workplace. This study was designed to investigate the incidence of work-related accidents and ill-health in Brazil according to their causes, their severity, and the economic activity in which they occur, and to compare the data before and after the introduction of the Accident Prevention Factor. Methods An ecological study was conducted by analyzing the time series of work-related accidents/ill-health between 2008 and 2014 from the Brazilian social security system (Previdência Social) statistical yearbooks. Incidences were calculated per cause, economic activity, and severity of the accident/ill-health. Data from before and after the introduction of the Accident Prevention Factor were compared using the Mann-Whitney test per cause and per economic activity. Statistical analyses were made using the SPSS software, with significance set at 5%. Results A reduction in the incidence of work-related accidents/ill-health was found across all the groups of causes analyzed, except for the groups “external causes of morbidity and mortality” and “factors influencing health status and contact with health services.” Greater reductions were found for diseases of the musculoskeletal system and connective tissue and diseases of the nervous system. Reductions in work-related accidents/ill-health were found in the different economic activities and in the different severity groups. The highest reduction after the introduction of the Accident Prevention Factor was in manufacturing and production (p < 0.05). Conclusions Overall, the incidence of accidents/ill-health was found to be on decline, except those with external causes of morbidity and mortality and those involving factors influencing health status and contact with health services. The biggest reduction was found in manufacturing and production. However, generally speaking progress still needs to be made in accident prevention and occupational health across a whole range of work environments.

The Role of Social Logistics for the National, Economic and Social Security

2021 ◽  
Vol 39 (39) ◽  
pp. 54-69
Author(s):  
Vanya Banabakova
Keyword(s):  
Comparative Analysis ◽  
Social Security ◽  
National Security ◽  
Critical Analysis ◽  
System Approach ◽  
Human Factor ◽  
Social Systems ◽  
Social Phenomena ◽  
National Economic

Logistics continuously expands its application areas. In modern conditions, there is a need to apply logistics in areas not related to its traditional applications such as military and business spheres, resulting in the identification of a third area with the name social logistics. Social logistics aims to introduce a social (human) factor into the systems and to apply logistic principles and methods in solving the problems of society. Social logistics can be defined as a set of actions that ensure the effective functioning of social systems (such as a set of social phenomena, processes and subjects), applying the principles of logistics. For the purposes of this paper, a number of scientific approaches and methods have been applied, such as system approach, comparative analysis, critical analysis, synthesis and others. Social logistics plays an important role in national security, including economic and social security. The purpose of this paper is to explore the role of social logistics in enhancing national security, including economic and social security.

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