scholarly journals Financial convergence at the world financial market: pension funds and insurance entities prospects: case of China, EU, USA

2019 ◽  
Author(s):  
Natalia Kuznetsova ◽  
Zhanna Pisarenko
Keyword(s):  
Financial Market ◽  
Performance Indicators ◽  
Pension Funds ◽  
Market Segments ◽  
Sigma Convergence ◽  
The World ◽  
Basic Performance ◽  
The Usa ◽  
Practical Implications ◽  
The Eu

Purpose − to find whether large international institutional investors regardless of their country of origin due to the influence of external factors demonstrate convergence on some basic performance indicators. Research methodology is based on testing the set of selected entities for sigma convergence. The paper presents an empirical analysis of financial convergence for autonomous pension funds and insurance corporations of China, the EU and the USA. Findings − the insurance segment of the world financial market is more converged; however, current pension reforms in many countries is supposed to and must unify the requirements for both market segments and will lead to even greater convergence between pension funds and insurance corporations. Practical implications − results of the research are another step towards understanding the convergence processes, which are an objective trajectory for the development of the modern global financial market. Originality/Value − found intersegment convergence of pension and insurance entities, which needs further research.

scholarly journals The Propensity for Mandatory Audit Rotation and its Impact on Earnings Management in Europe

2020 ◽  
Vol 5 (1) ◽  
pp. 222-233
Author(s):  
Regina Reicher ◽  
Tran Nguyen Bao Ngo
Keyword(s):  
European Union ◽  
Earnings Management ◽  
Financial Market ◽  
Financial Reporting ◽  
External Audit ◽  
Accounting Scandals ◽  
The World ◽  
Practical Implications ◽  
The Eu

The doubt of investors for the accuracy of financial reporting statements and the credibility of external audit functions has becoming more and more severe in the recent years due to a variety of booming accounting scandals related to earnings management occurring around the world. To cope with these serious frauds in the world of financial market, many countries have adopted Mandatory Audit Rotation (MAR) rules. Although the MAR rule has been valid around European Union (EU) members since 2016, the effectiveness of this rule has not been examined in any academic papers yet. As a result, the aim of this study is to investigate the effectiveness and the necessity of the latest MAR rule in the EU by testing the influence of audit rotation activities and audit tenure on earnings management of companies in the STOXX Europe 600 Index. Practical implications of this study will not also prove whether companies in STOXX Europe 600 Index should be required to shorten their audit tenure by rotating their audit engagement more often in order to decline the degree of earnings management, but they will also help to strengthen support for the essentiality of MAR legislations in the EU if the result indicates that longer audit tenure actually leads to more earnings management of STOXX Europe 600 Index companies.

Russian Banking Sector under World Financial Market Uncertainty: Problems and Prospects

2008 ◽  
pp. 4-19 ◽  
Author(s):  
A. Ulyukaev ◽  
E. Danilova
Keyword(s):  
Emerging Markets ◽  
Financial Market ◽  
Banking Sector ◽  
Financial System ◽  
Local Market ◽  
Market Uncertainty ◽  
Balanced Growth ◽  
Banking Sector Development ◽  
The World ◽  
The Usa

The authors point out that the local market crisis - on the USA substandard loan market - has led to the uncertainty of the world financial market. It has caused the growing demand for liquidity in the framework of the world financial system. The Russian banking sector seems to be more stable under negative changes than banking systems of other emerging markets. At the same time one can assume that the crisis will become the factor of qualitative shift in the character of the Russian banking sector development - the shift from impetuous to more balanced growth.

Environmentally friendly and socially responsible investment in and by occupational pension funds in the USA and in the EU

2021 ◽  
pp. 138826272110269
Author(s):  
Lauren Daniels ◽  
Yves Stevens ◽  
David Pratt
Keyword(s):  
Financial Performance ◽  
Investment Decision ◽  
Pension Funds ◽  
Socially Responsible Investment ◽  
Occupational Pension ◽  
Socially Responsible ◽  
Responsible Investment ◽  
Occupational Pensions ◽  
The Usa ◽  
The Eu

Worldwide pension funds, in their capacity as large institutional investors, are under increasing pressure to take social and environmental considerations into account in their investment decision-making process. The concepts Socially Responsible Investment (SRI) and Environmental Social Governance (ESG) are indeed ubiquitous in the current investment and pension community. This article aims to provide some insight into the conceptual relationship between SRI and ESG and its legal implications for the investment behaviour of private pension funds in the USA and the EU. Hence, the first part of the article gives some background to the distinct concepts of SRI and ESG. This leads to the finding that SRI goes one step further than ESG by prioritising moral or ethical considerations that may not be material to an investment’s financial performance, whereas ESG functions as a guideline to enhance financial performance. The second part analyses the legal possibilities and constraints for responsible investment in American occupational pensions and the third part does the same for European occupational pensions. The article concludes with a summary and comparative overview of the American and European lessons.

European Union in Counter-Crisis Competition of Power Centers: Potential, Realities, Hopes

2013 ◽  
pp. 68-77
Author(s):  
K. Voronov
Keyword(s):  
European Union ◽  
Gdp Growth ◽  
The European Union ◽  
Historical Experience ◽  
The World ◽  
The Usa ◽  
Evolutionary Robustness ◽  
Power Centers ◽  
Macroeconomic Growth ◽  
The Eu

Despite the crisis, the economy of the European Union remains to be the largest in the world. The economic mechanism of the EU is rather differentiated. It has a great historical experience and possesses sufficient evolutionary robustness. Currently, the former relationships between the EU and the USA undergo substantial changes and new forms emerge. For both of them the greatest challenge is presented by China which in recent decades shows the solid rates of GDP growth. Supposedly, Chines economy will become the world largest on in the new future. Under such conditions the Old World has to conduct a persistent search for new sources of its successful macroeconomic growth.

Growth and Competitiveness

2021 ◽  
pp. 35-50
Author(s):  
André Sapir
Keyword(s):  
European Union ◽  
European Market ◽  
High Tech ◽  
The European Union ◽  
Economic Entity ◽  
Single European Market ◽  
The World ◽  
Key Technologies ◽  
The Usa ◽  
The Eu

After two prosperous decades, the European Union suffered a serious setback in the late 1970s and early 1980s, with sluggish growth and weak competitiveness in high-tech sectors compared to the USA and Japan. The creation of the single European market in 1993 was a major boost to growth and competitiveness in Europe. Yet, today, even abstracting from the coronavirus crisis, the European Union again faces some economic troubles. Growth has been subdued for a while and the EU is suffering yet again from weak competitiveness in high-tech sectors compared to the USA and to China, which has replaced Japan as the main Asian powerhouse. At the same time, however, the geopolitical situation has changed dramatically. In the earlier days, the world was divided between East and West, and all three main economic powers, the EU, Japan, and the USA, were in the same political camp. Their rivalry was therefore purely economic. Today, there are political dividing lines between the three main economic powers. The EU’s competitiveness problem vis-à-vis China and the USA in some key technologies is therefore not just economic but also geopolitical. Yet, the European Union remains largely an economic entity, though it has started to think and even to act geopolitically. The obvious question is whether Europe will be able to repeat its achievement of nearly 30 years ago and come up with a new design that will boost its growth and competitiveness in this new geopolitical era, or whether this quest will prove elusory.

scholarly journals The World Trade Organization's Report on the EU's Moratorium on Biotech Products: The Wisdom of the US Challenge to the EU in the WTO

2008 ◽  
Vol 8 (1) ◽  
pp. 33-52 ◽  
Author(s):  
Sarah Lieberman ◽  
Tim Gray
Keyword(s):  
World Trade ◽  
The European Union ◽  
Gm Food ◽  
Cartagena Protocol On Biosafety ◽  
The Us ◽  
Cartagena Protocol ◽  
The World ◽  
The Usa ◽  
Biotech Products ◽  
The Eu

The World Trade Organization (WTO) recently ruled on the case brought by the US, Canada and Argentina against the moratorium imposed by the European Union (EU) on imports of genetically-modified (GM) food and crops. Although the WTO's ruling has been greeted by the complainant countries as a victory, it found in their favor on only one narrow technical procedural issue, and it rejected more substantive challenges to the EU moratorium. In this article, we analyze the WTO report and explain the issues at stake, focusing particularly on the question of why the USA chose the WTO as the forum for its challenge to the EU moratorium, and whether it was wise to do so. Has the USA achieved its aims through the trade-specific WTO, or should it have taken its challenge to the more hostile, but environment-specific forum of the Cartagena Protocol on Biosafety? Alternatively, should the USA have refrained from mounting an official international challenge at all?

scholarly journals Tendencje na rynku mięsa wieprzowego na świecie i w Polsce w latach 2000-2016

2017 ◽  
Vol 104 (3) ◽  
pp. 54-65 ◽  
Author(s):  
Stanisław Stańko ◽  
Aneta Mikuła
Keyword(s):  
Growth Rate ◽  
World Production ◽  
Medium Term ◽  
Upward Trend ◽  
Consumption Growth ◽  
Pork Production ◽  
The World ◽  
Production Growth ◽  
The Usa ◽  
The Eu

The study presents changes in the world pork market and in Poland in the years 2000-2016. Changes in the main producers and consumers, as well as exporters and importers were presented. The major global producers of pork are China, the EU, USA, Brazil, Russia and Vietnam, which in 2016 produced 88.2% of total world production. In the world’s major pork producers (except China), consumption growth was slower than production growth, which increased their export capacity. In the years 2000-2016, the growth rate of international trade was higher than production, what led to an increase in the share of exports in production. Global pork exports is characterized by a large and growing concentration rate. In 2016, 37.6% of exports came from the EU, 28.5% from the USA, 15.9% from Canada and 10% from Brazil (total 92% of exports). World pork imports were characterized by a much greater dispersion than exports. Pork prices have shown an upward trend. In Poland there was a downward trend in pork production and growth in consumption, which caused that since 2008 Poland is a net importer of pork. Poland will remain a net importer of pork in the medium term.

Carotenoids and other pigments as natural colorants

2006 ◽  
Vol 78 (8) ◽  
pp. 1477-1491 ◽  
Author(s):  
Alan Mortensen
Keyword(s):  
Organic Solvents ◽  
Plant Material ◽  
Water Soluble ◽  
Important Food ◽  
Renewable Sources ◽  
Food Colorants ◽  
Natural Colorants ◽  
The World ◽  
The Usa ◽  
The Eu

Food colorants may be classified into synthetic, nature-identical, inorganic, and natural colorants. Natural colorants for food are made from renewable sources. Most often, the colorants are extracted from plant material, but other sources such as insects, algae, cyanobacteria, and fungi are used as well. Natural colorants are usually extracted and concentrated using either water or lower alcohols for water-soluble pigments and organic solvents for lipophilic pigments. Legislation restricts which colorants are allowed, what sources may be used for that particular colorant, what solvents may be used to extract it, and the purity of the pigment. Colorants are formulated to make them more suitable for a variety of foods and drinks (e.g., lipophilic pigments for use in beverages) and to increase their stability. The natural colorants allowed in the EU and the USA are presented. Many of these colorants are also allowed in most parts of the world. A few colorants that are not allowed in the EU and the USA, but are important food colorants in other parts of the world, are also presented.

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