Capital Management and Budgeting Practices in Republic of Korea

2019 ◽

pp. 134-156

Author(s):

Erica Ceka

Keyword(s):

Financial Management ◽

Capital Investment ◽

Public Capital ◽

Capital Budgeting ◽

Legal Framework ◽

Investment Management ◽

Capital Management ◽

Public Infrastructure ◽

Institutional Economic ◽

Infrastructure Maintenance

As Moldova works toward building democracy and sustainable development, it is focusing its attention on increasing the effectiveness of public capital investment management. The chapter summarizes the current legal framework and practices in the field of capital management and budgeting in Moldova and compares the processes with a normative framework for effective capital investment management, focusing on capital planning, capital financial management, capital project execution and management, and public infrastructure maintenance. The analysis demonstrates that the public capital management and budgeting process in Moldova at the level of planning, allocation, and implementation of capital budgets falls short of its potential. The case reveals that despite a promising budgetary reform and comprehensive legal framework, the process of capital budgeting and management in Moldova remains ineffective due to institutional, economic, and political constraints.

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Capital Management and Budgeting in Taiwan

Capital Management and Budgeting in the Public Sector - Advances in Public Policy and Administration ◽

10.4018/978-1-5225-7329-6.ch012 ◽

2019 ◽

pp. 258-279 ◽

Cited By ~ 1

Author(s):

Wei-Jie Liao ◽

Nai-Ling Kuo

Keyword(s):

Renewable Energy ◽

Environmental Protection ◽

Disaster Prevention ◽

Capital Management ◽

Public Infrastructure ◽

Normative Framework ◽

Infrastructure System ◽

Infrastructure Maintenance ◽

Budgeting Process

In this chapter, the authors provide an overview of Taiwan's public infrastructure system using the recommended normative framework presented in Chapter 1. In general, most of Taiwan's practices fit the requirements suggested in Chapter 1. However, there are still rooms for improvements in prioritization, debt affordability analysis, and infrastructure maintenance. In addition, the build-operate-transfer (BOT) model and the so-called “Mosquito Buildings” also feature Taiwan's capital management and budgeting process and are discussed in this chapter. Nowadays, Taiwanese governments place much emphasis on disaster prevention, environmental protection, and renewable energy. These new trends may also affect Taiwan's capital management and budgeting process.

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A Systematic Public Capital Management and Budgeting Process

Capital Management and Budgeting in the Public Sector - Advances in Public Policy and Administration ◽

10.4018/978-1-5225-7329-6.ch001 ◽

2019 ◽

pp. 1-22 ◽

Cited By ~ 1

Author(s):

Arwiphawee Srithongrung ◽

Juita-Elena (Wie) Yusuf ◽

Kenneth A. Kriz

Keyword(s):

Financial Management ◽

Public Capital ◽

Capital Budgeting ◽

Capital Management ◽

Capital Spending ◽

Common Framework ◽

Normative Practices ◽

Main Components ◽

Infrastructure Maintenance ◽

Budgeting Process

This chapter introduces the readers to a public capital management and budgeting process and its role in generating public infrastructure networks. The main purpose of the chapter is to describe the normative public capital management and budgeting practices that are recommended by the public finance literature. These normative practices are segregated into four main components: (1) long-term capital planning, (2) capital budgeting and financial management, (3) capital project execution and project management, and (4) infrastructure maintenance. Given that the literature recommends specific practices to maximize efficiency in public capital spending, the four main components, combined, are referred to as the systematic capital management and budgeting process. The systematic process discussed in detail in this chapter is used as a common framework for each of the 12 country case studies in describing their respective public capital management and budgeting practices.

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A Systematic Public Capital Management and Budgeting Process

Research Anthology on Preparing School Administrators to Lead Quality Education Programs ◽

10.4018/978-1-7998-3438-0.ch027 ◽

2021 ◽

pp. 598-619

Author(s):

Arwiphawee Srithongrung ◽

Juita-Elena (Wie) Yusuf ◽

Kenneth A. Kriz

Keyword(s):

Financial Management ◽

Public Capital ◽

Capital Budgeting ◽

Capital Management ◽

Capital Spending ◽

Common Framework ◽

Normative Practices ◽

Main Components ◽

Infrastructure Maintenance ◽

Budgeting Process

This chapter introduces the readers to a public capital management and budgeting process and its role in generating public infrastructure networks. The main purpose of the chapter is to describe the normative public capital management and budgeting practices that are recommended by the public finance literature. These normative practices are segregated into four main components: (1) long-term capital planning, (2) capital budgeting and financial management, (3) capital project execution and project management, and (4) infrastructure maintenance. Given that the literature recommends specific practices to maximize efficiency in public capital spending, the four main components, combined, are referred to as the systematic capital management and budgeting process. The systematic process discussed in detail in this chapter is used as a common framework for each of the 12 country case studies in describing their respective public capital management and budgeting practices.

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Impact of working capital management on profitability: Evidence from Pakistan oil sector

International Journal of Accounting and Financial Reporting ◽

10.5296/ijafr.v5i1.7825 ◽

2015 ◽

Vol 1 (1) ◽

pp. 286

Author(s):

M.Yousaf Raza ◽

Muhammad Bashir ◽

Khalid Latif ◽

Touqeer Sultan Shah ◽

Mushtaq Ahmed

Keyword(s):

Financial Management ◽

Capital Budgeting ◽

Capital Management ◽

Working Capital ◽

Working Capital Management ◽

Operating Profit ◽

Work In Process ◽

Fixed Assets ◽

Oil Sector ◽

The Impact

This study explores the impact of working capital management on the profitability of the firms in the oil sector of Pakistan. For the purpose of testing this relationship data from the annual reports of the sample companies is used from the period 2006 to 2010. Cash conversion cycles (CCC), average receivable, Average inventory, average payable, and current ratio are used as a measure of working capital management, while gross operating profit is used as a measure of profitability of the firm. There are three major issues in financial management that are capital budgeting, capital structure, and working capital management. So working capital management is one of the three major issues in financial management. A commercial firm consists of two types of assets, which are fixed assets and current assets. Current assets of a firm consist of cash, bank balance, account receivable, raw material, work in process, and finished goods. While fixed assets of the business require capital expenditure and these are used in increasing the production of the business, the Current assets are used in utilizing the fixed assets in day to day transactions. Hence Current assets are regarded as lifeblood for any business firm, the play vital role in the daily operations of the business. Current assets and current liabilities regarded as are very important component of total assets and they need to be carefully managed for the long term success of the business. In this paper working capital management provide us profit by using average payable and gross operating profit but other variables in hypothesis shows negative relationships with each other.

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What is the Real State of Financial Management in Companies in the Republic of Serbia?

Management Journal of Sustainable Business and Management Solutions in Emerging Economies ◽

10.7595/management.fon.2018.0002 ◽

2018 ◽

Cited By ~ 2

Author(s):

Goran Petkovic ◽

Snezana Konjikusic ◽

Lidija Barjaktarović ◽

Renata Pindzo

Keyword(s):

Decision Making ◽

Risk Management ◽

Ownership Structure ◽

Financial Management ◽

Capital Budgeting ◽

Chief Financial Officers ◽

Future Research ◽

Dividend Payout ◽

Management Concept ◽

The Republic

Abstract: Research Question: This paper focuses on the basic financial decision making practices of domestic companies and their knowledge of the operational risk management concept. Motivation: Chief Financial Officers (CFOs) play a significant role in the company’s development and achieving the company’s objectives (Van Horne & Wachowicz, 2007). Different authors carry out research based on one of the fields of finances-related decision making, like Graham & Harvey, 2001. The goal of this research is to show that difference in decision making process on companies’ finances and risk management depends on the company’s ownership structure. Idea: The paper is aimed at the recognition of differences found in corporate decision making, relating both to capital budgeting and capital structure, dividend payout policy and risk management concept, depending on the ownership structure. Data: During the first half of 2016, a research consisting of the 392-companies sample operating in the Republic of Serbia was conducted, including all four listed fields concerning their economic operations. Nevertheless, only a total of 54 CFOs completed and handed back the distributed questionnaires. Tools: Some basic descriptive statistics techniques, one-way analysis of variance (ANOVA) and Kruskal-Wallis test were applied throughout the complete data analysis, while data processing involved the use of standard statistical package IBM SPSS 20.0. Findings: As shown by research findings, there is a notable difference in decision making, both on dividend payout and on risk management concept, depending on the types of ownership, with companies operating in our domestic market. The future research will concentrate on practice of companies merging both domestic and foreign entities, in order to determine whether a similar pattern might be found. Contribution: Furthermore, the research is intended to be complemented by the data contained in the official financial reports of those companies, with a view to ascertaining if the statements made by their CFOs are actually applied in the corporate practice.

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Infrastructure Development in Burkina Faso

Capital Management and Budgeting in the Public Sector - Advances in Public Policy and Administration ◽

10.4018/978-1-5225-7329-6.ch009 ◽

2019 ◽

pp. 181-205

Author(s):

Kouliga Koala ◽

Joshua Steinfeld

Keyword(s):

Burkina Faso ◽

Financial Management ◽

Public Capital ◽

Capital Budgeting ◽

Developed Countries ◽

Infrastructure Development ◽

The Public ◽

Normative Framework ◽

Government Documents ◽

Infrastructure Maintenance

In Burkina Faso, the public capital management and budgeting framework is the MTEF. The budgeting method is the PBB. While Burkina has a budgeting framework and method, it is not clear how effectively they work when it comes to capital budgeting for infrastructure development, unlike developed countries where the framework and method are completely developed and clearly laid out. It is important to understand how Burkina integrates components of a normative framework such as long-term public capital planning, capital budgeting and financial management, centralized execution and project management, and infrastructure maintenance. The chapter focuses on providing a comparison of capital budgeting in Burkina and the normative framework. Exploring the literature and government documents, the authors show that Burkina theoretically addresses some of the elements of the normative components while practically, the country's use of most elements is weak and non-existent. The unique factors that inhibit the normative framework are highlighted and ten recommendations are provided.

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Utilization of Cash Flow Ratios in Financial Management

American Journal of Financial Management ◽

10.28933/ajfm-2021-03-3005 ◽

2021 ◽

pp. 8

Author(s):

Keyword(s):

Capital Structure ◽

Cash Flow ◽

Financial Management ◽

Dividend Policy ◽

Financial Analysis ◽

Balance Sheet ◽

Capital Budgeting ◽

Capital Management ◽

Working Capital ◽

Working Capital Management

Cash flow ratios are the ratios are calculated using balance sheet, income statement, and the statement of cash flow. The statement of cash flow is used to calculate all of the 28 cash flow ratios. These ratios may be used in financial management. The financial managers can utilize the ratios in especially the seven functions of the financial management. They are financial analysis, working capital management, capital structure, capital budgeting, dividend policy, leverage, and valuation. All of the cash flow ratios could be used financial analysis and working capital management functions of the financial management. 14 ratios in capital structure, 10 ratios in capital budgeting, 8 ratios in dividend policy, 8 ratios in leverage, and a ratio in valuation may be used.

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