scholarly journals Determining the Probability of Bankruptcy of Production Enterprise

2020 ◽  
Vol 11 (514) ◽  
pp. 186-191
Author(s):  
A. M. Savchenko ◽  
◽  
N. V. Fisher ◽  
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Factor Model ◽  
Five Factor Model ◽  
Financial Policy ◽  
Western Model ◽  
Priority Direction ◽  
Probability Of Bankruptcy ◽  
The Stability ◽  
The Individual

The main aim of this publication is to research and substantiate the possibilities of using traditional methods of analyzing the financial position of entrepreneurial entities in conjunction with the methodology for determining the probability of bankruptcy of enterprise. The country’s economy is characterized by a financial and economic crisis, which caused a powerful wave of bankruptcies, which intensified scientific and applied research directed towards introduction of an effective system of early warning and response to the threat of critical bankruptcy at domestic enterprises. Both foreign and domestic methods of analysis of the probability of bankruptcy of enterprise are researched, their advantages, disadvantages and possibility of application are defined. The reasons for the bankruptcy of domestic economic entities are highlighted and a set of actions within the framework of the anti-crisis financial management to prevent bankruptcy is proposed. Both the Western and domestic models of bankruptcy probability assessment are considered. As an example of the Western model, the Altman’s five-factor model and the Springate model were chosen, as an example of the domestic model – the one by O. Tereshchenko and A. V. Matviychuk. The purpose of use of the models analyzed in the article is to determine the financial stability of enterprise in order to assess its financial potential. Also the benefits of using these models among other existing ones along with the factors that may impact them are highlighted. For the example of application of these models data of PJSC «Kyiv Vitamin Plant» was used. Stabilization of finances of enterprises was and will be a priority direction of financial stabilization of both the individual enterprise and the economic system. A practical solution to this problem is possible only by replacing the existing financial policy with flexible forms of it and ensuring the stability of the enterprise operation. Depending on the probability of bankruptcy, regulatory measures such as entering the voluntary administration or the transition to anti-crisis management be implemented.

scholarly journals TO IMPROVE THE ANALYSIS OF THE FINANCIAL SECURITY OF THE BUSINESS IN GEORGIAN ENTERPRISES

2020 ◽  
pp. 135-147
Author(s):  
IZOLDA CHILADZE
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Factor Model ◽  
Limited Liability ◽  
Sustainable Growth ◽  
Sustainable Business ◽  
Growth Trend ◽  
Factors Affecting ◽  
The Stability ◽  
And Control

The purpose of this paper is to improve the analysis of the financial stability of enterprises and to identify the key factors affecting the establishment of the sustainable growth trend of enterprises (except the financial sector) in Georgia. Answering the question: what financial challenges do enterprises in Georgia face today and be designed consequently, recommendations for strengthening the financial stability of enterprises should be developed in Georgia, increasing solvency and mitigating bankruptcy risks? The necessity for the financial stability of enterprises is becoming increasingly important both for sustainable business growth and for the stability of the international financial market.The subject of the study is the financial positions and financial results of the analytical enterprises. The first and second categories of joint-stock companies of Georgia and limited liability companies were selected as the research objects. Ten enterprises in total. The research methodology includes methods of economic and statistical analysis, factor analysis, vertical, horizontal, proportional and ratio analysis.In order to improve financial management and control, the paper presents multi-factor models of several indicators created by the author. These are: the tree-factor model the coefficient of the organic structure of capital, an eight-factor model of profitability and a six-factor model of the Financial leverage. The paper conducts practical research on the example of ten Georgian companies and concludes that the main challenges in today›s Georgia are the dangers of losing financial stability and bankruptcy. The reason for such a tense financial situation is not a «Corona-19». According to the author, the main reasons for the instability of enterprises in Georgia are: The Irresponsibility of business owners and management, low management professionalism and hidden flows of cash resources.

MACRO- AND MICROPRUDENTIAL POLICIES: SWEET AND LOWDOWN IN A CREDIT NETWORK AGENT-BASED MODEL

2019 ◽  
pp. 1-20
Author(s):  
Ermanno Catullo ◽  
Federico Giri ◽  
Mauro Gallegati
Keyword(s):  
Systemic Risk ◽  
Financial Stability ◽  
Agent Based Model ◽  
Agent Based ◽  
Macroprudential Policies ◽  
The Stability ◽  
The Individual ◽  
The Cost ◽  
Individual Choices ◽  
Credit Network

The paper presents an agent-based model reproducing a stylized credit network that evolves endogenously through the individual choices of firms and banks. We introduce in this framework a financial stability authority in order to test the effects of different prudential policy measures designed to improve the resilience of the economic system. Simulations show that a combination of micro- and macroprudential policies reduces systemic risk but at the cost of increasing banks’ capital volatility. Moreover, the agent-based methodology allows us to implement an alternative meso regulatory framework that takes into consideration the connections between firms and banks. This policy targets only the more connected banks, increasing their capital requirement in order to reduce the diffusion of local shocks. Our results support the idea that the mesoprudential policy is able to reduce systemic risk without affecting the stability of banks’ capital structure.

Multiple uses for longitudinal personality data

1992 ◽  
Vol 6 (2) ◽  
pp. 85-102 ◽  
Author(s):  
Paul T. Costa ◽  
Robert R. McCrae
Keyword(s):  
Longitudinal Studies ◽  
Factor Model ◽  
Current Knowledge ◽  
Five Factor Model ◽  
Life Outcomes ◽  
Age Related ◽  
Retrospective Reports ◽  
Baltimore Longitudinal Study ◽  
Observer Ratings ◽  
The Stability

Most longitudinal studies are designed to serve fairly narrow purposes, such as the prediction of life outcomes from theoretically relevant antecedent variables, or the documentation of age‐related changes in the level of personality or cognitive variables. However, the accumulation of data on a single group of people observed over a period of many years permits a variety of other types of analyses. Creative use of a longitudinal archive can amply justify the costs of maintaining the sample and should encourage investigators to initiate more longitudinal projects. Findings from the Baltimore Longitudinal Study of Aging are used to illustrate both traditional and alternative uses of personality data, including (a) development of nomological nets for the interpretation of personality measures, (b) evaluation of state effects in personality measurement, (c) validation of retrospective reports, and (d) heuristic exploratory analyses. Current knowledge on the stability of personality in adulthood, the correspondence of observer ratings and self‐reports, and the comprehensiveness of the five‐factor model can enhance the design of future longitudinal studies.

scholarly journals Development of a methodology for determining the financial security of rural areas

2021 ◽  
Vol 12 (32) ◽  
pp. 70-86
Author(s):  
Gamlet Y. Ostaev ◽  
Inna A. Mukhina ◽  
Elena V. Alexandrova ◽  
Elena V. Belokurova ◽  
Lyudmila G. Titova
Keyword(s):  
Rural Areas ◽  
Financial Management ◽  
Financial Stability ◽  
Economic Security ◽  
Practical Significance ◽  
Real Problem ◽  
Financial Security ◽  
Financial Indicators ◽  
Udmurt Republic ◽  
The Individual

The current state of most of Russia's territories is such that the development rates of specific regions remain low. This phenomenon does not allow for sustainable long-term economic security. Therefore, it is necessary to develop measures to determine the financial stability of the individual regions and territories of the country for the purposes of their development under current conditions. In this sense, the real problem is to determine the financial indicators to assess the economic security of rural areas. This can be achieved through the formation of a scientifically based action algorithm aimed at improving the situation in rural areas. The research topic is the formation of a system to identify financial indicators in the evaluation of the economic security of rural areas. The theoretical and practical significance of solving problems related to the achievement of sustainable development in rural areas determined the choice of goals, objectives, object and theme of this study. Based on the above, the object of the study is the municipal budget and agricultural enterprises as the basis for the development of rural areas. The purpose of the study is to establish the methodology for evaluating financial security in rural areas as a financial management instrument at the municipal level. The following tasks were implemented in the course of the study: selection of financial indicators based on official and expert sources; Foundation of the mathematical apparatus to calculate the comprehensive and private indicators of the financial security of the territory using the principles of qualimetry (the science of measuring quality). The proposed methodology allows to systematize the financial and economic indicators, it serves as the main calculation of the financial and economic security of the Udmurt Republic; the methodology can also be applied to other rural areas of the country.

scholarly journals Time-resolved connectome of the five-factor model of personality

2019 ◽  
Vol 9 (1) ◽  
Author(s):  
L. Passamonti ◽  
R. Riccelli ◽  
I. Indovina ◽  
A. Duggento ◽  
A. Terracciano ◽  
...  
Keyword(s):  
Large Scale ◽  
Ad Hoc ◽  
Factor Model ◽  
Five Factor Model ◽  
Future Research ◽  
Time Resolved ◽  
Personality Differences ◽  
Network Time ◽  
Large Scale Networks ◽  
The Individual

Abstract The human brain is characterized by highly dynamic patterns of functional connectivity. However, it is unknown whether this time-variant ‘connectome’ is related to the individual differences in the behavioural and cognitive traits described in the five-factor model of personality. To answer this question, inter-network time-variant connectivity was computed in n = 818 healthy people via a dynamical conditional correlation model. Next, network dynamicity was quantified throughout an ad-hoc measure (T-index) and the generalizability of the multi-variate associations between personality traits and network dynamicity was assessed using a train/test split approach. Conscientiousness, reflecting enhanced cognitive and emotional control, was the sole trait linked to stationary connectivity across several circuits such as the default mode and prefronto-parietal network. The stationarity in the ‘communication’ across large-scale networks offers a mechanistic description of the capacity of conscientious people to ‘protect’ non-immediate goals against interference over-time. This study informs future research aiming at developing more realistic models of the brain dynamics mediating personality differences.

scholarly journals Cognitive Modeling of Sustainability of the Russian Financial Market

2019 ◽  
Vol 10 (6) ◽  
pp. 145
Author(s):  
Nemer Badwan ◽  
Elena Panfilova
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Cognitive Modeling ◽  
Foreign Exchange Market ◽  
Cumulative Effect ◽  
Financial Policy ◽  
Constant Attention ◽  
Priority Direction ◽  
The Stability ◽  
Near Future

Object: The stability of the financial market is one of the most important components of the inflow of capital into the country and ensuring economic growth. Cognitive modeling of stability of the Russian financial market is carried out.Purposes: Drawing up a cognitive map of the Russian financial market, impulse modeling of changes in its segments in order to find the main factors of stability of the national financial market.Methodology: Cognitive research methods: cognitive analysis and cognitive modeling.Result of research: The stability of the financial market is formed due to the cumulative effect of all its segments. However, the Russian financial market is most sensitive to changes in the money market, foreign exchange market, corporate and government borrowing market. Despite the sanction’s restrictions, the domestic market remains dependent on international financial markets.Application: The results are applicable in the formation of financial and monetary policy of the country.Summary: Achieving stability in the financial market requires constant attention from the regulator for liquidity in the market, stability and predictability of the national currency. The priority direction of development of the state financial policy in the near future should be the establishment of relations with leading players in the world financial markets and international financial institutions.

Neurobiological Functioning and the Personality Trait Hierarchy: Central Serotonergic Responsivity and the Stability Meta-trait

2018 ◽  
Author(s):  
Aidan G.C. Wright ◽  
Kasey Creswell ◽  
Janine Flory ◽  
Matthew Muldoon ◽  
Stephen N. Manuck
Keyword(s):  
Individual Differences ◽  
Personality Trait ◽  
Factor Model ◽  
Five Factor Model ◽  
Community Sample ◽  
Serum Prolactin ◽  
Component Traits ◽  
Shared Variance ◽  
Prolactin Response ◽  
The Stability

Trait domains of the five-factor model (FFM) are not orthogonal, and two meta-traits have often been estimated from their covariation. Here we focus on the Stability meta-trait, which reflects shared variance in conscientiousness, agreeableness, and neuroticism (inversely). It has been hypothesized that Stability manifests, in part, due to individual differences in central serotonergic functioning. We explore this possibility in a community sample (N=441) using a multiverse analysis of multi-informant FFM traits and Stability predicting individual differences in central serotonergic functioning, as assessed by change in serum prolactin concentration following intravenous infusion of the selective serotonin reuptake inhibitor, citalopram. Results were mixed, showing that trait neuroticism, agreeableness, and conscientiousness, as well as the Stability meta-trait, are significantly associated with prolactin response, but that these findings are contingent on a number of modeling decisions. Specifically, these effects were non-linear, emerging most strongly for those highest (lowest for neuroticism) on the component traits.

Individual Differences and Mindfulness

2019 ◽  
Author(s):  
Johannes Alfons Karl ◽  
Ronald Fischer
Keyword(s):  
Individual Differences ◽  
Factor Model ◽  
Five Factor Model ◽  
Future Research ◽  
Reinforcement Sensitivity Theory ◽  
Dispositional Mindfulness ◽  
Sensitivity Theory ◽  
Reinforcement Sensitivity ◽  
The Individual ◽  
External Stimuli

What makes some people more mindful than others? Previous research has indicated that dispositional mindfulness is related to both the five factor model (FFM) and the reinforcement sensitivity theory (RST). However, previous research has examined those associations in isolation. We examined the unique effects of RST and the FFM on mindfulness in a sample 399 participants. Overall, we found the individual facets of mindfulness were differentially correlated with RST and FFM dimensions. Specifically, RST (BIS) and FFM (Neuroticism) dimensions that draw attention to external stimuli negatively correlated with mindfulness except for Observing. In contrast, FFM dimensions Openness and Conscientiousness correlated positively with mindfulness, suggesting a pattern where individuals routinely allocate attention to internal stimuli (being mindful) in order to explore (Openness) or to regulate these experiences (Conscientiousness). Our findings provide new insights into the underlying individual difference structure of being mindfulness and implies that mindfulness may not be a unitary construct. We suggest that future research should investigate mindfulness correlates at the facet level instead of the higher level of overall mindfulness.

Financial management in small business

2017 ◽  
Author(s):  
Natalya Morozko ◽  
Valyentina Didyenko
Keyword(s):  
Small Business ◽  
Financial Services ◽  
Financial Management ◽  
Financial Stability ◽  
Federal State ◽  
Financial Policy ◽  
Small Organizations ◽  
Educational Standard ◽  
Rational Management ◽  
State Educational

The textbook describes the main provisions of the financial policy of the organization. The features of small business functioning in Russia are highlighted. The problems of formation of financial resources of small organizations, insolvency of organizations, the financial equivalent of the security of small business functioning are revealed. The methods of financial management in small business, the provisions of the mechanism for ensuring financial stability of small organizations are considered in detail. The main directions of financial management for organizing the functioning of small organizations in the conditions of diversified financial services are systematically defined. Meets the requirements of the Federal state educational standard of higher education of the latest generation. For students and postgraduates studying financial management, as well as specialists and managers of organizations that need to make rational management decisions.

Person-Fit to the Five Factor Model of Personality

2012 ◽  
Vol 71 (1) ◽  
pp. 35-45 ◽  
Author(s):  
Jüri Allik ◽  
Anu Realo ◽  
René Mõttus ◽  
Peter Borkenau ◽  
Peter Kuppens ◽  
...  
Keyword(s):  
Factor Model ◽  
Five Factor Model ◽  
Intraclass Correlation ◽  
Individual Response ◽  
Person Fit ◽  
Intraindividual Variation ◽  
Adequate Model ◽  
Interindividual Differences ◽  
Individual Level ◽  
The Individual

The Five Factor Model (FFM), a valid model of interindividual differences in the personality of a group of people, reportedly does not always provide a good fit for the individuals of that group. In addition to intraindividual variation across a considerable period of time, meaningful intraindividual variation can be observed within a single test administration. Two person-fit indices showed that the FFM is an adequate model for 95% of the 1,765 target-judge pairs in four different countries (Belgium, the Czech Republic, Estonia, and Germany): the double-entry intraclass correlation (ICCDE), which indicated that the 30 NEO PI-R scores on scales measuring the same personality trait are more similar and certainly less different than scores measuring different traits, and the individual contribution to the extracted eigenvalues (Zeig). The individual response pattern to the personality questionnaire characterized by the ICCDE and Zeig strongly determined the percentage of explained variance for the group-level factor structure of interindividual differences and the mean self-observer profile agreement. We demonstrate that, if the percentage of variance explained by the first five principal components is high enough, the FFM also provides an adequate fit at the individual level for most people.

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