scholarly journals Economic and Financial Transactions Govern Business Cycles

2019 ◽  
Vol 8 (1) ◽  
pp. 1-20 ◽  
Author(s):  
Victor Olkhov
Keyword(s):  
Business Cycles ◽  
Economic Problem ◽  
Financial Policy ◽  
Economic Space ◽  
Economic Agents ◽  
Financial Variables ◽  
Credit Cycles ◽  
Almost All ◽  
Macro Variables ◽  
Financial Transactions

Problem/Relevance - This paper presents new description of the business cycles that for decades remain as relevant and important economic problem. Research Objective/Questions - We propose that econometrics can provide sufficient data for assessments of risk ratings for almost all economic agents. We use risk ratings as coordinates of agents and show that the business cycles are consequences of collective change of risk coordinates of agents and their financial variables. Methodology - We aggregate similar financial variables of agents and define macro variables as functions on economic space. Economic and financial transactions between agents are the only tools that change their extensive variables. We aggregate similar transactions between agents with risk coordinates x and y and define macro transactions as functions of x and y. We derive economic equations that describe evolution of macro transactions and hence describe evolution of macro variables. Major Findings - As example we study simple model that describes interactions between Credits transactions from Creditors at x to Borrowers at y and Loan-Repayment transactions that describe refunds from Borrowers at y to Creditors at x. We show that collective motions of Creditors and Borrowers from safer to risky area and back on economic space induce frequencies of macroeconomic Credit cycles. Implications – Our model can improve forecasting of the business cycles and help increase economic sustainability and financial policy-making. That requires development of risk ratings methodologies and corporate accounting procedures that should correspond each other to enable risk assessments of economic agents.

scholarly journals Akad Murakkab dalam Produk Keuangan Syariah

2020 ◽  
Vol 5 (1) ◽  
pp. 104
Author(s):  
Siti Kholijah
Keyword(s):  
Product Development ◽  
Modern Society ◽  
Islamic Banking ◽  
Important Thing ◽  
Financial Products ◽  
Development Agreement ◽  
Almost All ◽  
Financial Transactions

The most important thing for creating sharia banking and financial products in addressing the demands of modern society is the development of multiple agreement.The form of a single agreement is not able to respond to contemporary financial transactions. Multiple agreement method should be superior in product development. Agreement in sharia transaction are modified from the exciting agreements in which such agreements are found in almost all sharia product. Multiple Agreement(al-Uqud  al- Murakkabah) is one of contempory in Islamic banking whose implementation develops in line with business developments.

scholarly journals Responsible finance: application and challenges for society, governments and corporations

Upravlenie ◽  
2020 ◽  
Vol 8 (1) ◽  
pp. 57-62
Author(s):  
V. I. Pyatanova ◽  
I. A. Pyatanov
Keyword(s):  
Financial Policy ◽  
Financial Systems ◽  
Funding Allocation ◽  
Economic Agents ◽  
Financial Decisions ◽  
Financial Responsibility ◽  
The World ◽  
Huge Variety ◽  
Financial Gains

The topic of Responsible Finance is becoming an important issue in the functioning of our financial systems. There are many interesting developments in social, governmental and corporate perspectives that promote more ethical and sustainable principles of making financial decisions, allocating resources and capital. The boom in ESG investing (taking into account Environmental, Social and Governance factors) over the last 10 years suggests the great importance of this topic for funding allocation worldwide. Investment proj ects are now assessed on a variety of metrics, not only based on their potential financial gains. Governments also have a role to play, as they support private initiatives and reconsider a huge variety of their projects to account for these additional factors that eventually impact population’s welfare. All economic agents should pay attention to this transformation to not miss out on the new standards of financial responsibility. These changes present great opportunities for the world of finance, whilst having few drawbacks. In this article a closer look at the founding principles of financial responsibility is taken. Authors examine how these principles shape the financial policy with concrete examples from social, corporate and government perspectives. Authors also emphasize the factors that potentially limit the unitary acceptance of such practices around the world.

scholarly journals Forecasts, ethics and financial behaviour: Another reading of economic crises

2011 ◽  
Vol 1 (2) ◽  
pp. 7-13
Author(s):  
Miia Parnaudeau ◽  
Elisabeth Paulet
Keyword(s):  
Business Cycles ◽  
Financial Markets ◽  
Final Section ◽  
Subprime Crisis ◽  
Real Economy ◽  
Ethical Practices ◽  
Economic Agents ◽  
Financial Behaviour ◽  
The Uk ◽  
European Economies

The forecasts of economic agents are not without influence on financial markets‟ fluctuations. The recent subprime crisis has shown that incorrect use of information available on the markets added to the creation of complex financial instruments can have major consequences, not only in financial terms, but also on the real economy. Based on a study of three European countries, France, Germany and the UK, the goal of this paper is to assess how more ethical practices among economic agents can reduce the volatility of financial markets and stabilise the business cycles. This should lead to greater stability for European economies. After discussing the various possible forms that the forecasts of economic agents can take, we will study their correlation with business cycles. The final section will be dedicated to formulating various hypotheses and scenarios for explaining speculative cycles and how to control them with more ethical practices.

U.K. Executive Compensation Practices: New Economy versus Old Economy

2004 ◽  
Vol 16 (1) ◽  
pp. 57-92 ◽  
Author(s):  
Konstantinos Stathopoulos ◽  
Susanne Espenlaub ◽  
Martin Walker
Keyword(s):  
Executive Compensation ◽  
Stock Options ◽  
New Economy ◽  
Financial Policy ◽  
Executive Stock Options ◽  
Compensation Package ◽  
Size Growth ◽  
Old Economy ◽  
Almost All

This paper examines the executive compensation practices of listed U.K. retailing companies. We compare “New Economy” retailers (e-commerce/dot-coms) to more traditional retailers operating in the “Old Economy.” We also discriminate between recently floated retailers and their more seasoned counterparts. Using a sample of remuneration contracts for 549 directors in 72 listed U.K. companies in the New and Old Economies, we investigate the structure and level of executive (and nonexecutive) compensation defined as the sum of salary, annual bonus, and the values of executive stock options and long-term incentive plans (LTIPs). We investigate the extent to which the contract features are determined by firm characteristics, economic sector, and governance/ownership factors. In contrast to the U.S., where almost all executive stock options are issued at the money, there is a greater variety of practice in the U.K. with some options being granted substantially in the money. We therefore pay special attention to this U.K. institutional feature by producing a model designed to explain the crosssectional variation in the moneyness of stock options at the date of issue. We also examine the determinants of a number of other contract features. These are: the time to maturity of the executive stock options, the leverage of the compensation package, the ratio of long-term pay relative to short-term pay, and pay performance sensitivity. We find that differences in compensation arrangements can be explained to a significant extent by differences in firm size, growth/growth opportunities, firm financial policy, ownership characteristics, and governance arrangements. We also find some systematic differences between the compensation arrangements of CEOs and other executives.

A new view into political business cycles: Household behaviour in Albania

2014 ◽  
Vol 64 (Supplement-1) ◽  
pp. 201-224 ◽  
Author(s):  
Endrit Lami ◽  
Holger Kächelein ◽  
Drini Imami
Keyword(s):  
Economic Growth ◽  
Business Cycles ◽  
Public Employment ◽  
Political Business Cycles ◽  
Related Research ◽  
Economic Agents ◽  
Econometric Methods ◽  
Household Behaviour ◽  
The Subject ◽  
Main Factors

Over the last decades, there has been plenty of research and publications on Political Business Cycles (PBC), aimed at analysing and explaining the use of fiscal and monetary instruments to stimulate economic growth before elections, with the intention of impressing potential voters. Previous research on PBC in Albania reveals clear evidence of fiscal expansion before elections, but no significant changes in GDP and inflation as theory predicts. One possible explanation of this result could be economic agents’ expectations, which is the subject of this paper. We analyse consumers’ expectations before elections, the main factors underlying expectations, and the way in which these expectations influence their behaviour toward spending, and consequently the macroeconomic outcomes, deploying standard econometric methods widely applied in PBC related research. According to our research results, households’ consumption spending decreases before elections because of the higher uncertainty about their future economic situation due to the highly politicised public employment.

scholarly journals Credit Cycles and Business Cycles in Twenty EU Economies

2014 ◽  
Vol 15 ◽  
pp. 1055-1064 ◽  
Author(s):  
Constantin-Marius Apostoaie ◽  
Stanislav Percic
Keyword(s):  
Business Cycles ◽  
Credit Cycles

International Financial Transactions and Business Cycles.

1960 ◽  
Vol 55 (289) ◽  
pp. 223 ◽  
Author(s):  
George H. Borts ◽  
Oskar Morgenstern
Keyword(s):  
Business Cycles ◽  
Financial Transactions

scholarly journals DEVELOPMENT OF DATABASES STRUCTURE OF INTERNAL ECONOMIC AGENTS FINANCIAL MONITORING

2021 ◽  
Vol 3 (38) ◽  
pp. 204-213
Author(s):  
O. Kuzmenko ◽  
T. Dotsenko ◽  
V. Koibichuk
Keyword(s):  
High Risk ◽  
Economic Agent ◽  
Economic Agents ◽  
Financial Transaction ◽  
Reference Information ◽  
Credit History ◽  
External Sources ◽  
Financial Monitoring ◽  
Financial Transactions ◽  
Legal Entities

Abstract. The article presents the results of developing the structure of databases of internal financial monitoring of economic agents in the form of a data scheme taking into account the entities, their attributes, key fields, and relationships, as well as the structure of units of regulatory information required for basic monitoring procedures based on internal and external sources. The block diagram of the financial monitoring databases, formed in the modern BPMN 2.0 notation using the Bizagi Studio software product on the basis of internal normative and reference documents, consists of tables containing information on: the client's financial monitoring questionnaire; list of risky clients according to the system of economic agent; the list of clients for which there are court rulings and financial transactions which may contain signs of risk; list of PEP clients of the economic agent; list of clients for which there is a share of state ownership (PSP); list of prohibited industries; reference books (type of financial transactions; features of financial transactions of mandatory financial monitoring; features of financial transactions of internal financial monitoring; identity document; type of subject of primary financial monitoring; type of notification; legal status of transaction participant; type of person who related to the financial transaction; the presence of permission to provide information; signs of financial transaction; regions of Ukraine); directory of risk criteria; clients with FATCA status. The scheme of the structure of databases of internal financial monitoring of economic agents using normative and reference information on the basis of external sources is presented by tables containing information on: legal entities, natural persons-entrepreneurs, public formations, public associations, notaries, lawyers of Ukraine; the list of persons related to terrorism and international sanctions, formed by the State Financial Monitoring Service of Ukraine; list of public figures and members of their families; sanctions lists (National Security and Defense Council of Ukraine; Ministry of Economic Development and Trade of Ukraine; OFAC SDN List — US sanctions list; worldwide sanctions lists; EU sanctions lists); lists of high-risk countries (aggressor state, countries with strategic shortcomings, countries with hostilities, list of the European Commission for countries with weak APC / FT regime, countries with high levels of corruption, self-proclaimed countries, countries with high risk of FT, offshore countries); The First All-Ukrainian Bureau of Credit Histories, which describes the credit history, credit risks of individuals and legal entities in Ukraine (PVBKI); International Bureau of Credit Histories, which describes the credit history of individuals and legal entities of clients of Ukrainian economic agents (MBKI); list of dual-use goods; list of persons with OSH; AntiFraud HUB — information about fraudsters; register of bankruptcies; register of debtors; register of court decisions; database of invalid documents; list of persons hiding from the authorities; register of EP payers; registers of encumbrances on movable and immovable property; data on securities; lustration register; register of arbitration trustees; corruption register; bases of Ukrainian organizations; information on foreign companies. Integrated use of the developed databases based on the proposed schemes will improve the procedures for financial monitoring by economic agents and solve several current problems. Keywords: economic agents, financial monitoring, structural scheme of the database, normative and reference information of internal securement, normative and reference information of external securement. JEL Classification E44, D53, G21, G28, G32 Formulas: 0; fig.: 2; tabl.: 0; bibl.: 12.

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