scholarly journals Liquidity of Non-financial Corporations: Evidence from Bulgaria

2021 ◽  
Vol 27 (3) ◽  
pp. 389-406
Keyword(s):  
Economic Crisis ◽  
The State ◽  
Economic Situation ◽  
Negative Effects ◽  
Corporate Liquidity ◽  
Financial Condition ◽  
The World ◽  
Financial Consequences ◽  
Liquidity Crises ◽  
Early Indicators

The financial and economic crisis years ago put the development of enterprises in Bulgaria and around the world in an uncontrollable environment that is difficult to predict, and led to significant problems with their financial condition. As a result of a rare CoVid-19 pandemic in 2020, the economic situation has become more complicated and portends déjà vu in terms of negative effects on the economy and businesses. The numerous closures of businesses and entire sectors will undoubtedly lead to serious financial consequences related to liquidity problems and excessive indebtedness of Bulgarian enterprises. The main problem that provokes this study is the lack of summarized information on the state of corporate liquidity and the solvency levels of non-financial corporations in Bulgaria. The main purpose of the article is to examine the liquidity status of non-financial corporations in Bulgaria. This analysis is needed to prevent liquidity crises and to bring out early indicators to warn and counter the risks posed by deteriorating solvency. It will be essential for the liquidity assessment to derive average industry values of the indicators to guide the companies from the sectors regarding the recommended liquidity levels to which they should strive.

scholarly journals Robots as intelligent assistants to face COVID-19 pandemic

2020 ◽  
Author(s):  
Valeria Seidita ◽  
Francesco Lanza ◽  
Arianna Pipitone ◽  
Antonio Chella
Keyword(s):  
Technological Progress ◽  
World Economy ◽  
The State ◽  
Research Groups ◽  
Negative Effects ◽  
The World ◽  
Intelligent Assistants

Abstract Motivation The epidemic at the beginning of this year, due to a new virus in the coronavirus family, is causing many deaths and is bringing the world economy to its knees. Moreover, situations of this kind are historically cyclical. The symptoms and treatment of infected patients are, for better or worse even for new viruses, always the same: more or less severe flu symptoms, isolation and full hygiene. By now man has learned how to manage epidemic situations, but deaths and negative effects continue to occur. What about technology? What effect has the actual technological progress we have achieved? In this review, we wonder about the role of robotics in the fight against COVID. It presents the analysis of scientific articles, industrial initiatives and project calls for applications from March to now highlighting how much robotics was ready to face this situation, what is expected from robots and what remains to do. Results The analysis was made by focusing on what research groups offer as a means of support for therapies and prevention actions. We then reported some remarks on what we think is the state of maturity of robotics in dealing with situations like COVID-19.

scholarly journals Analisis Peran Negara Di Bidang Ekonomi Dalam Prespektif Sistem Kapitalisme, Sosialisme, Dan Ekonomi Islam

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Muhammad Kambali
Keyword(s):  
Interest Rates ◽  
Conceptual Framework ◽  
Economic System ◽  
Economic Crisis ◽  
The State ◽  
Planning System ◽  
Role Of The State ◽  
The World ◽  
Low Interest Rates

The economic crisis that convolved the world economy a few years ago is the result of a series of government policies in the economic field. Starting from the Subprime Mortgage in America, the crisis eventually spreads across all sectors of the economy. As analysts say that the explosion of the current economic crisis is caused by the trend of low interest rates that are applied by the Fed. The trend of low interest rates will give rise to expectation of market to future economic situation. It is characterized by the overflow of capital expansion in all sectors, especially in property sector. Today, along with the growing mobility of capital from one country to another as part of unavoidable economic liberalization, mobility of capital, on the one hand, has spawned some of the imbalances in the life of a State. The powerlessness can not be separated from economic ideology and system on state role in the economy. Capitalism with its laissez faire brings the concept of state minimal role in the economy. In the empirical facts, it is broken by the crisis situation in 1930 and today's financial crisis. Socialism tends to carry the central role of the State in the economy through the centralistic planning system. The fall of the Soviet Union in the 1980s brought the world to a choice whether reconstructing capitalism or socialism as Fukuyama and Gidden said. On the other hand, as the new system, the economic system of Islam brings the concept of the role of the State in the economy on the basis of universal values of Islam, such as justice in the economy which is reflected in the mechanism of the prohibition of riba (usury), just income distribution and redistribution of income through zakat and social security. This article is an exposure of the State's role in the economy which is studied through the perspective of today’s economic system. The systems are capitalism, socialism, and Islam. The article not only explores conceptual framework, but also also contains an empirical framework mapping and how the conceptual framework is operated. At the end, from the two mapping (conceptual and empirical), author draws a reflection of how the State should play a role in the economic field. Keywords: Capitalism, Socialism, Islam, Economic Role of State

scholarly journals Features of the modern post-capitalist era

2021 ◽  
Vol 7 (2) ◽  
pp. 291-297
Author(s):  
Andrey Petrovich Garnov ◽  
Andrey Yuryevich Belyaninov ◽  
Elena Vadimovna Zakharova ◽  
Natalia Alekseevna Prodanova ◽  
Irina Alekseevna Batueva ◽  
...  
Keyword(s):  
Economic Crisis ◽  
Technological Progress ◽  
Modern Society ◽  
The State ◽  
Necessary Condition ◽  
Traditional Society ◽  
Dirty Work ◽  
Religious System ◽  
Modern Capitalism ◽  
The World

Modern society can be identified as a capitalist civilization, rapidly developing through the accumulation of capital in the process of entrepreneurial (primarily innovative scientific and technical) activities, which radically transformed the world around us and ensured the progress of mankind. Fighting against the closed elite-hierarchical religious system of the Premodern (traditional society), Modern (capitalism) raised the slogan: Freedom, Equality, Fraternity, which, according to its ideologists, could be realized on the basis of the secular democratic structure of society and scientific and technological progress. The article says that ultraeconomics is an economy that is not justified by anything (labor, capital, innovation etc.). The necessary condition for the victory of ultraeconomics was the destruction of scientific and rational reason, morality and conscience. This dirty work was done by countermodernism and ultra-liberalism. The victory of countermodernism, ultra-liberalism and ultra-economism led to the state of Postmodernism, and then to the global financial and economic crisis, the way out of which is impossible in the Postmodern paradigm.

scholarly journals Bankruptcy risk assessment models as a tool for diagnosing the financial condition of capital market companies

2020 ◽  
Vol 110 (166) ◽  
pp. 31-76
Author(s):  
Paweł Kopczyński
Keyword(s):  
Discriminant Analysis ◽  
Economic Crisis ◽  
Listed Companies ◽  
The State ◽  
Multiple Discriminant Analysis ◽  
Financial Condition ◽  
Large Populations ◽  
State Of The Economy ◽  
Conducting Research ◽  
Analysis Models

Purpose: The main purpose of this article is to examine the usefulness of multiple discriminant analysis models in assessing the financial condition of individual enterprises, the state of the economy, and its sectors. The study assessed the financial situation of Polish listed companies at the end of the global economic crisis that started in 2007. Methodology/approach: Seven discriminant functions were used to assess the actual changes in the finan-cial situation of listed companies during the period of 2009–2014. In order to diagnose the end of the crisis, the period in which countries emerged from the global economic crisis was taken into account. The study covered 175 Polish companies listed on the regulated market operated by the Warsaw Stock Exchange, whose standalone financial statements were used. These companies belong to 22 sectors of the economy. It was assumed that the number of companies at risk of bankruptcy should have decreased during this period. Findings: The study showed that it is difficult to determine when the crisis ended and stopped affecting Polish listed companies. Their financial condition gradually improved during the period 2013–2014. Multiple discriminant analysis models are useful in assessing the risk of bankruptcy, but the study results show that it is safer to use several models simultaneously and to eliminate outliers. Research limitations/implications: The discriminant models used in the study are suitable for conducting research on large populations within enterprises and can be used by state and financial institutions (including banks) and authorities in Poland to facilitate the conduct of economic statistics, forecasting economic situation, etc. Originality/value: In Poland, many studies have been carried out on the usefulness of multiple discrimi-nant analysis models for the purposes of forecasting the bankruptcy of individual enterprises. However, there are few studies devoted to assessing the usefulness of the models in conducting research on large populations within enterprises (i.e., assessing the state of the economy and its sectors). This research helps to explore and fill this research gap.

Analisis Peran Negara Di Bidang Ekonomi Dalam Prespektif Sistem Kapitalisme, Sosialisme, Dan Ekonomi Islam

2016 ◽  
Vol 1 (1) ◽  
pp. 16-35
Author(s):  
Muhammad Kambali
Keyword(s):  
Interest Rates ◽  
Conceptual Framework ◽  
Economic System ◽  
Economic Crisis ◽  
The State ◽  
Planning System ◽  
Role Of The State ◽  
The World ◽  
Low Interest Rates

The economic crisis that convolved the world economy a few years ago is the result of a series of government policies in the economic field. Starting from the Subprime Mortgage in America, the crisis eventually spreads across all sectors of the economy. As analysts say that the explosion of the current economic crisis is caused by the trend of low interest rates that are applied by the Fed. The trend of low interest rates will give rise to expectation of market to future economic situation. It is characterized by the overflow of capital expansion in all sectors, especially in property sector. Today, along with the growing mobility of capital from one country to another as part of unavoidable economic liberalization, mobility of capital, on the one hand, has spawned some of the imbalances in the life of a State. The powerlessness can not be separated from economic ideology and system on state role in the economy. Capitalism with its laissez faire brings the concept of state minimal role in the economy. In the empirical facts, it is broken by the crisis situation in 1930 and today's financial crisis. Socialism tends to carry the central role of the State in the economy through the centralistic planning system. The fall of the Soviet Union in the 1980s brought the world to a choice whether reconstructing capitalism or socialism as Fukuyama and Gidden said. On the other hand, as the new system, the economic system of Islam brings the concept of the role of the State in the economy on the basis of universal values ​​of Islam, such as justice in the economy which is reflected in the mechanism of the prohibition of riba (usury), just income distribution and redistribution of income through zakat and social security. This article is an exposure of the State's role in the economy which is studied through the perspective of today’s economic system. The systems are capitalism, socialism, and Islam. The article not only explores conceptual framework, but also also contains an empirical framework mapping and how the conceptual framework is operated. At the end, from the two mapping (conceptual and empirical), author draws a reflection of how the State should play a role in the economic field.

Trends in the development of international trade in the post-coronavirus economy

2021 ◽  
Vol 20 (1) ◽  
pp. 50-57
Author(s):  
D. S. Shikhalieva
Keyword(s):  
International Trade ◽  
Economic Crisis ◽  
The State ◽  
Current Trends ◽  
Main Current ◽  
The World ◽  
Global Economic Crisis ◽  
Trade Growth

The article examines the main current trends in the state and development of in-ternational trade. The purpose of the study is to identify opportunities and re-serves for trade growth. The presented indicators of exports, imports, gross do-mestic product by regions of the world allow drawing conclusions about the prospects for overcoming the global economic crisis. The results of the study are aimed at identifying the main trajectories of international trade in the post-coronavirus period.

The Economic Situation : Annual Review

1961 ◽  
Vol 13 ◽  
pp. 4-28
Keyword(s):  
Economic Policy ◽  
The State ◽  
Balance Of Payments ◽  
Economic Situation ◽  
Annual Review ◽  
Export Trade ◽  
British Economy ◽  
British Industry ◽  
The World

Chapter 1 gives a brief summary of trends in Britain in 1960, and surveys the state of British industry at the end of the year. Chapter 2 looks at world developments and prospects—in particular at the world payments difficulties developing in 1960. In the light of these trends, Chapter 3 considers Britain's export trade and her balance of payments. Chapter 4 then gives a forecast for the British economy during 1961. Chapter 5 examines the world problem of reserves and trade and, finally, considers the problems of current economic policy.

Outlook for the World Economy: A Latin American Viewpoint

1987 ◽  
Vol 29 (4) ◽  
pp. 125-146
Author(s):  
Juan Guillermo Espinosa
Keyword(s):  
International Economic ◽  
Latin American ◽  
World Economy ◽  
External Debt ◽  
The State ◽  
Economic Situation ◽  
General Sense ◽  
The Past ◽  
The North ◽  
The World

The Term Which best sums up the current international economic situation is the word “crisis.” This crisis exists not only in the economies of the South, harassed over the past five years by external debt and the adjustment measures which it has spawned, but also in the economies of the North, often saddled with substantial deficits.Surrounding the state of crisis is a general sense of confusion as to the proper direction to take to deal with this crisis. The future appears opaque, which renders the choice of remedies even more difficult than would normally be the case under better circumstances.

scholarly journals Chosen aspects of economic profitability in agricultural companies in the context of global economic crisis

2015 ◽  
Vol 6 (3) ◽  
pp. 101-110
Author(s):  
Emilia Grzegorzewska
Keyword(s):  
Economic Crisis ◽  
Significant Role ◽  
Economic Situation ◽  
Negative Consequences ◽  
Financial Condition ◽  
World Markets ◽  
Global Economic Crisis ◽  
Polish Economy ◽  
Profitability Ratios

Abstract Negative consequences of the economic crisis, which began in the United Sates in 2007, affected economies of all countries. The unfavourable economic situation on world markets was also reflected in the financial condition of Polish companies. It also refers to agriculture which plays a significant role in Polish economy. The following paper covers change trends in economic profitability of a group of 10 agricultural companies. Chosen liquidity and profitability ratios have been presented as well as synthetic measure which is at the root of the compilation “Ranking of 300 best agricultural companies”. The presented findings cover the years 2007-2012.

scholarly journals FINANCIAL ASPECTS OF TAKING INTO ACCOUNT OF NEW ECONOMIC RISKS IN THE ACTIVITY OF ENTERPRISES

2021 ◽  
Vol 4 (39) ◽  
pp. 376-386
Author(s):  
М. Karlin ◽  
О. Stashchuk ◽  
О. Borysiuk
Keyword(s):  
Economic Crisis ◽  
Business Models ◽  
Jel Classification ◽  
Goods And Services ◽  
Financial Condition ◽  
The World ◽  
The Future ◽  
Delivery Services ◽  
Climatic Risks ◽  
Economic Risks

Abstract. The economic development of enterprises in the world and in Ukraine in 2020 and in the future will increasingly depend on taking into account new economic risks, among which it is appropriate to note the following: climate, epidemiological (especially coronavirus), deglobalization, protectionist, populist, inequality income. Against the background of the coronavirus pandemic and the resulting economic crisis, the sector of domestic small and medium-sized businesses focused on the provision of offline services has suffered the most. In fact, the demand for the services of catering, entertainment, tourism, hospitality, as well as the beauty industry and non-food retail in quarantine has fallen several times. At the same time, the need to pay wages, taxes, social security contributions, rents, loans to banks and counterparties for supplies and other services remained. At the same time, all types of businesses that have not had time to switch to providing goods and services online or adhere to business models related exclusively to the provision of personal offline services are at risk of bankruptcy in the future. The consequence of quarantine will be an economic crisis, and, consequently, a reduction in purchasing power and a change in consumer behavior. In general, there has been a violation of the traditional seasonality of sales, changing trends due to falling consumer incomes. At the same time, digital services are accelerating e-commerce, payment systems, online ordering, and delivery services. Also, among other economic risks in the activities of enterprises, special attention is paid to the need to identify and assess financial and climatic risks that arise due to restrictions imposed by international organizations and individual countries on business. Accordingly, companies engaged in climate-hazardous activities must calculate their financial losses in the future if they continue such business. Another problem is the fact that financial and climatic risks and other new economic risks have not been sufficiently studied and systematized, and their impact on the financial condition of enterprises in the world and in Ukraine has not been studied. Keywords: new economic risks, enterprise, deglobalization, protectionism, economic populism, economic inequality, Ukraine. JEL Classification D21, E44, G30, Q32 Formulas: 0; fig.: 2; tabl.: 0; bibl.: 14.

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