scholarly journals Validating the Reliability of Predictive Models for the Companies in the Slovak Creative Industry

Auspicia ◽  
2021 ◽  
Vol XVIII (1) ◽  
pp. 22-42
Keyword(s):  
Predictive Model ◽  
Business Environment ◽  
Creative Industry ◽  
Grey Zone ◽  
Financial Health ◽  
Quick Test ◽  
Commercial Code ◽  
Definition Of ◽  
A Company ◽  
Level Of Agreement

Globalization of business environment has brought new challenges and trends. The importance of human capital has been growing especially since the 1990s when the Creative Industry was recognized as a full-fledged component of the national economy. There are a number of models available to analyse the financial health of the companies operating in the Creative Industry. The authors first focused on Acts No. 513/1991 Coll. and 7/2005 of the Commercial Code, as amended, which define the financial health of a company. After applying Altman Z-Score, IN05 and Creditworthiness Index, Quick Test and Binkert and Taffler models, it follows from the results that Quick Test shows the highest level of agreement with the legislative definition of a non-prosperous company. Therefore, the authors decided to analyse this predictive model further. The results of their study show that, while very reliable for the category of non-prosperous companies, the model does not achieve sufficient reliability for other categories, the average/grey zone in particular. Based on the results of the study, the authors conclude that a new predictive model to assess a company’s financial health is necessary.

scholarly journals Reliability of the Slovak Legislative Categorization in Comparison with the Selected Prediction Models - Application in Companies from the Creative Industry – Architecture in Slovakia

2021 ◽  
Vol 115 ◽  
pp. 02011
Author(s):  
Miroslav Uhliar ◽  
Andrej Kovalev
Keyword(s):  
Prediction Models ◽  
Statistical Testing ◽  
Creative Industry ◽  
Grey Zone ◽  
Financial Health ◽  
Z Score ◽  
Quick Test ◽  
Industrial Companies ◽  
Commercial Code ◽  
Current Design

One of the important changes in the world economies is the increasing significance of the human capital and high emphasis on the Creative Industry. Many companies have been founded within this sector, and like the classic industrial companies, these also need to use models to analyze their financial health and predict their future development. Thus, the Authors decided to verify whether the categorization of the financial situation of the companies based on the Slovak legislative corelate with renowned models like the Altman Z-Score, the IN05 and Creditworthiness Indexes, the Quick Test and the Taffler model. Within the Creative Industry, the Authors targeted the sector of Slovak Architecture and focused on the legislative categorization based on the Acts No. 513/1991 Coll. and 7/2005 of the Commercial Code, as amended. According to the statistical testing results, it was the Quick Test which showed the highest rate of correlation to the legislative Acts. However, the current design of the Quick Test is not sufficient enough to assess the companies in architecture which, based on their results, fall into the so-called grey zone. Therefore, the Authors declare that it might be necessary to form a new predictive model for the assessment of a company’s financial health for the Creative Industry.

scholarly journals Prediction by financial and economic analysis in the conditions of forest enterprises

2020 ◽  
Vol 66 (No. 1) ◽  
pp. 1-8 ◽  
Author(s):  
Andrea Majdáková ◽  
Blanka Giertliová ◽  
Iveta Hajdúchová
Keyword(s):  
Economic Analysis ◽  
Comprehensive Evaluation ◽  
Prediction Method ◽  
Financial Health ◽  
Quick Test ◽  
Financial Condition ◽  
Wide Range ◽  
Forest Enterprises ◽  
The Individual ◽  
A Company

Individual companies need to know their financial condition. They have a wide range of methods and procedures to create a system of the financial and economic analysis of a company. The analysis is focused on the evaluation of a specific group of methods for predicting the financial health of a business entity. Evaluations of the financial situation of a company are divided into point methods, mathematical and statistical methods and neural networks. The individual methods differ from each other in difficulty, in the extent of the analyzed areas and possibilities of application. The aim of this work is to assess the possibilities of using selected methods of comprehensive evaluation of companies as a tool for an analysis of the position of each company in the branch. The suitability and feasibility of each method are tested on a selected group of companies. Quick Test, Tamari Model, Beaver Model are included in this work. Based on the results, improvements and recommendations for the practical use were suggested. The results showed that the best predictive methods are Quick Test and Tamari Model, because they are quick and unequivocal when assessing the analyzed companies. An inappropriate prediction method is the Beaver model, which uses only two financial indicators to evaluate companies.

E-service flexibility: meeting new customer demands online

2013 ◽  
Vol 36 (11) ◽  
pp. 1123-1136 ◽  
Author(s):  
Yan Jin ◽  
Ngozi Oriaku
Keyword(s):  
Theoretical Model ◽  
Firm Performance ◽  
Conceptual Model ◽  
Service Providers ◽  
Empirical Studies ◽  
Activity Cycle ◽  
Business Environment ◽  
Content Type ◽  
Definition Of ◽  
A Company

Purpose – Business-to-consumer (B2C) electronic service (e-service) allows a company to decrease transaction costs, expedite delivery time, and serve more customers. Flexibility lets e-service providers improve their service without costly and time-consuming infrastructure overhauls to cope with the changing business environment. Little work has been done to associate flexibility with e-service. This paper aims to provide a conceptual taxonomy of e-service flexibility in line with the online purchase in a customer activity cycle (CAC), as well as a theoretical model to investigate the relationships among a company's internal flexibility, e-service flexibility, customer readiness and firm performance. Design/methodology/approach – Based on an extensive review of e-service and flexibility literature, the paper develops a taxonomy of B2C e-service flexibility in a CAC framework and a conceptual model to show the influence e-service flexibility exerts on firm performance and the factors that support e-service flexibility. Findings – This research identifies the important e-service flexibility in each CAC stage, discusses the influence of e-service flexibility on firm performance and an organization's internal flexibility supporting e-service flexibility, and argues that customer readiness has an important influence on firm performance as well. Research limitations/implications – The conceptual model of e-service flexibility and propositions need further empirical validation. Practical implications – This paper should help managers identify the critical e-service flexibility that satisfies their customers and the core internal flexibility that supports flexible e-service. It should help managers consider customer limitations when developing e-service flexibility. Originality/value – This research sets some theoretical and research foundation for future empirical studies. First, the research provides a conceptual definition of e-service flexibility in line with the CAC. Based on the definition, measurements of e-service flexibility in each stage of CAC could be developed and the e-service flexibility construct could be validated. Second, the conceptual model outlines the relationships between a company's internal flexibility, e-service flexibility, customer readiness, and firm performance. The theoretical model provides the foundation for empirically testing the influences of interactions between a company and their customers on firm performance.

Opportunities for improving the insider laws: A comparative analysis of the practice in the USA and Russia

2020 ◽  
Vol 26 (4) ◽  
pp. 796-814
Author(s):  
E.K. Ovakimyan
Keyword(s):  
Financial Markets ◽  
Insider Trading ◽  
Negative Impact ◽  
Business Environment ◽  
Market Manipulation ◽  
Insider Information ◽  
Analysis And Synthesis ◽  
The Usa ◽  
Legislative Perfection ◽  
Definition Of

Subject. The article examines the laws regulating insider trading. Objectives. The study outlines recommendations for refining Law On Countering the Illegal Use of Insider Information and Market Manipulation and Amendments to Some Legislative Acts of the Russian Federation, № 224-ФЗ of July 27, 2010. Methods. The methodological framework includes a general dialectical method, analysis and synthesis, induction and deductions, and some specific methods, such as comparative and formal logic analysis to specify the definition of insider information, structural logic and functional analysis to improve the mechanism for countering insider trading and market manipulation. Results. We discovered key drawbacks to be addressed so as to improve the business environment in Russia. Although the Russia laws mainly mirror the U.S. laws, they present a more extended list of terms concerning the insider information. I believe the legislative perfection should be continued. Conclusions and Relevance. The study helps apply the findings to outline a new legislative regulation or amend the existing ones, add a new mention on the course of financial markets to students’ books, develop new methods for detecting and countering and improving the existing ones. If all parties to insider relationships use the findings, they will prevent insider trading crimes in financial markets and (or) reduce the negative impact of such crimes on the parties.

The Importance of Knowledge Transfer to Industry

2016 ◽  
Vol 4 (1) ◽  
pp. 1-6
Author(s):  
Emília Madudová ◽  
Keyword(s):  
Literature Review ◽  
Competitive Advantage ◽  
Divergent Thinking ◽  
Business Environment ◽  
Point Of View ◽  
Creative Industry ◽  
Specific Knowledge ◽  
Creative People ◽  
Industry Needs ◽  
Firm Owners

The paper examines the specific knowledge universities transfer to industry, reflecting to creative industry needs. As results shows, the most asked alumni competences should be tacit knowledge and divergent thinking. Divergent thinking influence the creativity. Creativity is often defined as the ability to develop new and useful ideas, but in deep literature review, we can see few irregularities and different definitions of creativity. The paper also evaluates the importance of creativity from business environment point of view and from the creative industry perspective and creative firm owners. As point of view. Another key finding is, that to educate creative people will be one of the key competitive advantage, because mainly the ability to create and disseminate knowledge is often at the heart of the organization's competitive advantage not only in creative industry, but in transport industry as well.

Digital Economy: New Opportunities and Threats for the Development of the World Economy

2018 ◽  
Vol 11 (2) ◽  
pp. 18-26 ◽  
Author(s):  
I. A. Strelkova
Keyword(s):  
World Economy ◽  
Practical Experience ◽  
Business Environment ◽  
Digital Economy ◽  
The State ◽  
Market Exchange ◽  
Country Level ◽  
The World ◽  
Business Structures ◽  
Definition Of

The paper examines various approaches to the definition of the term «digital economy» in the scientific and business environment along with factors and forms of its development in different countries taking into account the specifics of the current stage of the Russian economy, which is a matter of particular importance in seeking new sources of the world economy growth. The subject of the research is opportunities and threats inherent in the process of digitalization of economies and their impact on the operation of international and national markets as well as the development of the world economy as a whole. The purpose of the paper was to analyze the practical experience in the formation and development of the digital economy in foreign countries and Russia and identify the changes it brings to the activities of state institutions and business structures, established rules of market exchange, the process of promotion and use of innovations. All the above made it possible to determine the country-level specifics of the digital economy evolution reveal the contradictory nature of its manifestations and justify the necessity for active participation of the state in stimulation and support of potentially promising digital innovations in various sectors of the economy. It is concluded that the level of the digital economy development depends on the real-sector performance, the maturity of markets, the state of the national economy. It is highlighted that the criteria for a comprehensive assessment of the results of the economy digitalization must be developed.

Territorial capital as a company intangible

2016 ◽  
Vol 17 (1) ◽  
pp. 148-167 ◽  
Author(s):  
Mariachiara Barzotto ◽  
Giancarlo Corò ◽  
Mario Volpe
Keyword(s):  
Great Difficulty ◽  
Future Research ◽  
Manufacturing Companies ◽  
Policy Makers ◽  
Content Type ◽  
Capital Growth ◽  
Multiple Case ◽  
Definition Of ◽  
A Company

Purpose – The purpose of this paper is twofold. First, to explore to what extent being located in a territory is value-relevant for a company. Second, to understand if a company is aware of, and how it can sustain, the territorial tangible and intangible assets present in the economic area in which it is located. Design/methodology/approach – The study presents an empirical multiple case-study, investigating ten mid-/large-sized Italian companies in manufacturing sectors. Findings – The results indicate that the sampled manufacturing companies are intertwined with the environment in which they are embedded, both in their home country and in host ones. The domestic territorial capital has provided, and still provides, enterprises with workers endowed with the necessary technical skills that they can have great difficulty in finding in other places. In turn, companies support territorial capital generation through their activities. Research limitations/implications – To increase the generalisability of the results, future research should expand the sample and examine firms based in different countries and sectors. Practical implications – Implications for policy makers: developing effective initiatives to support and guide a sustainable territorial capital growth. Implications for managers and investors: improving managerial and investors’ decisions by disclosing a complete picture of the enterprise, also outside the firm boundaries. Originality/value – The study contributes to intangibles/intellectual capital literature by shedding light on the importance of including territorial capital in a company’s report to improve the definition of the firm’s value. Accounting of the territorial capital would increase the awareness of the socio-economic environment value in which companies are located and its use.

Innovative Approaches to the Formation and Development of the Startup Ecosystem

2021 ◽  
Vol 12 (3) ◽  
pp. 668
Author(s):  
Nataliia DEMIANENKO ◽  
Ilona YASNOLOB ◽  
Oleg GORB ◽  
Oleksii Zoria ◽  
Liudmyla CHIP ◽  
...  
Keyword(s):  
Business Environment ◽  
Structural Elements ◽  
Entrepreneurial Universities ◽  
Entrepreneurial Ecosystems ◽  
Innovative Products ◽  
Definition Of ◽  
Innovative Approaches

The article is devoted to considering the peculiarities of startup ecosystem formation. Modern theoretical views on the definition of startup ecosystem have been studied. The author’s definition of “startup ecosystem” term has been given. Innovation and entrepreneurial ecosystems aimed at creating innovative products and services by startup companies have been analyzed. The structural elements of startup ecosystem under endogenous and exogenous changes in the business environment have been singled out. The situation of startup development in Ukraine and their further prospects have been analyzed. Emphasis has been placed on the formation of entrepreneurial universities as an important component of the ecosystem. The experience of leading countries in the implementation and formation of startup ecosystem has been studied and adapted.

scholarly journals DYNAMIC CAPABILITIES IN THE CREATIVE ARTS INDUSTRY

2019 ◽  
Vol 10 (2) ◽  
pp. 223-234
Author(s):  
Ghia Ghaida Kanita ◽  
Resa Respati
Keyword(s):  
Dynamic Capabilities ◽  
Added Value ◽  
Creative Industry ◽  
Creative Arts ◽  
Sustainable Competitive Advantage ◽  
Environmental Sensing ◽  
Organizational Flexibility ◽  
Testing Strategies ◽  
Or Organization ◽  
A Company

Abstract.  Dynamic ability is a form of knowledge that can create values for the company both with the results of innovation and transformation from input to output in order to produce sustainable competitive advantage. The purpose of this research is to know about what factors influence dynamic capabilities of a company or organization. In this study, more than that, what affects the dynamic capabilities in industries in Bandung. Creative industry is a collection of information related to information and information. Creative industry is an economic activity that produces added value from the art side. The creative arts industry is already boooming in Indonesia. Therefore, the author wants to learn about the dynamic capabilities that exist in the creative arts industry in Bandung. Things to look for are components such as environmental sensing capabilities, change capabilities and upgrades, technological flexibility capabilities, and organizational flexibility. Putri Pamayang Dance Studio is a dance studio in Bandung. This study uses a research-based design or Design Based Research (DBR). Based on the results of the study, the steps adopted by the Putri Pamayang Dance Studio are related to variation strategies, market testing strategies, development and development, backward integration, horizontal integration.Keywords. dynamic capabilities, sustainable competitive, environmental sensing capabilities, change and renewal capabilities, flexibility technology capabilities, and organizational flexibility.

scholarly journals Impact of Social Responsibility on the Quality of Company Governance

2019 ◽  
Vol 65 (2) ◽  
pp. 21-29
Author(s):  
Ana Jurić ◽  
Aleksandra Zupanc ◽  
Tjaša Štrukelj
Keyword(s):  
Social Responsibility ◽  
Limited Liability ◽  
Added Value ◽  
Socially Responsible ◽  
Company Governance ◽  
Research Findings ◽  
Definition Of ◽  
A Company

AbstractThe central aim of the article is company governance, i.e., researching governance of a company that does not want to be only financially successful but also direct its governance toward socially responsible governance. The article begins with the definition of “theoretical backgrounds,” in which social responsibility in regard to company governance improvement in quality is explained. The article then focuses on the measurement of the quality of company governance; in the research, the selected tool chosen to evaluate the governance of the chosen company regarding social responsibility, i.e., SEECGAN index, is used. Further, the case study of a Slovenian public limited liability company is used. One of the important research findings is the recognition that the addressed part of the SEECGAN index needs to be innovated and further developed. Additional questions for the completion of the index used presents the added value of the article. This article has two limitations: 1) it focuses only on the tool chosen to evaluate the governance of the chosen company regarding social responsibility; 2) the case study is based on publicly accessible data.

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