FINANCIAL POTENTIAL OF THE INSURANCE MARKET: THEORETICAL AND PRACTICAL ASPECTS OF DEVELOPMENT

2021 ◽  
pp. 76-135
Author(s):  
Liudmyla Chvertko ◽  
◽  
Yuliia Melnychuk
Keyword(s):  
Government Regulation ◽  
Well Being ◽  
Legal Framework ◽  
Insurance Market ◽  
Sustainable Business ◽  
Property Insurance ◽  
Investment Projects ◽  
The Public ◽  
The Stability

The insurance market in each country is an indicator of the economy and sustainable business development. When the stability and well-being of a country reaches a certain level, both workers and employers begin to think about their future, to ensure their old age, to finance the risks that exist in everyone’s life, property insurance, and so on. The rapid aging of the world’s population is depleting the financial capacity of citizens, leading to low levels of health care and pensions. Insurance makes it possible to provide daily human protection – both today and in the future. This leads to two effects – the state has additional long-term funds that provide financing for investment projects, which contributes to the further development of the country’s economy; citizens receive insurance protection, savings for future periods, and thus – protection of human interests. The insurance market in Ukraine is at the stage of constant formation. The main obstacles and problems of its development are the unstable socio-economic situation at the present stage and the peculiarity of the cultural and historical traditions of Ukrainian society, the problems of the COVID–19 pandemic and unstable economic development. Therefore, even with significant changes in the legal framework, the insurance market is quite weak in the economy and requires changes in government regulation, namely: strengthening legal and economic mechanisms to protect the interests of the insured and encourage the public and employers to conclude contracts; improvement of investment and credit legislation, directions and spheres of activity of the insurer.

scholarly journals A Study on Labour Welfare Practices in Karnataka Soaps and Detergents Ltd, Bengaluru

2021 ◽  
Vol 9 (1) ◽  
pp. 38-46
Author(s):  
K B Ravindra
Keyword(s):  
Public Sector ◽  
Social Security ◽  
Industrial Relations ◽  
Well Being ◽  
Primary Data ◽  
The Public ◽  
Economy Globalization ◽  
Social Security Benefits ◽  
Structured Questionnaire

The importance of Labour Welfare in Industrialisation and Economic Development has been recognized globally. It is an important dimension in Industrial Relations, which includes overall welfare facilities designed to take care of well being of Employees and Workers. During the 1990s, the measures of economic reforms introduced in the country have given rise to a wave of rapid and radical changes in the structure and working of our economy. Globalization, Liberalisation, Privatisation, etc. have completely changed the functioning of the Indian Economy and forced the employees, workers, and their organizations to adapt and adjust by reorienting their ways to survive and thrive amidst the forces of change and competition. The aspect of Labour Welfare and Social Security has tremendous significance in the Public Sector, Private Sector and Multinational Organisations. It is firmly believed that money and environment given to employees is a long term investment and will never go waste. Against this backdrop, a detailed study has been conducted at Karnataka Soaps and Detergents Ltd, Bengaluru, a Public Sector Organisation. Primary data collected through a Structured Questionnaire from 100 respondents covering all levels and departments has revealed that most of the Labour Welfare and Social Security provisions are being satisfactorily provided by the company to its employees and workers. It is suggested that the company carefully look into those areas where employees/workers have expressed dissatisfaction. The article concludes by stating that if an organisation provides good welfare and social security benefits, then it will be able to procure and develop a unique pool of people who can continuously take the organization to new levels of growth and sustainability.

Legal framework for religious activity in post-Soviet Kazakhstan: from liberal to prohibitive approaches

2020 ◽  
Vol 9 (1) ◽  
pp. 105-131
Author(s):  
Roman Podoprigora
Keyword(s):  
Law Enforcement ◽  
Political System ◽  
Government Regulation ◽  
Legal Framework ◽  
Public Attitude ◽  
Social Consequences ◽  
Religious Activity ◽  
The Public ◽  
Religious Associations ◽  
The Government

Abstract Religious activity is a very sensitive area of government regulation in Kazakhstan. After some post-soviet years of liberalization, the government has decided to return to soviet-style relations with a large amount of attention on the control and supervision of religious areas. The Law ‘On Religious Activity and Religious Associations’ adopted in 2011 was the result of such a decision. This article analyses the legal framework for religious activity, the model of relations between state and religious associations in modern Kazakhstan, the public attitude towards regulation in the religious field, the legal and social consequences of the adoption of current law, as well as the problems of its implementation and the government’s administration of religious activity in Kazakhstan. The author reaches the conclusion that more liberal legislation and law-enforcement practice is unlikely without changes in the political system, the public attitude towards religion and views on secularity.

scholarly journals ASSESSMENT OF THE EFFICIENCY OF INVESTMENT PROJECTS OF THE PUBLIC-PRIVATE PARTNERSHIP IN THE OIL AND GAS SECTOR OF RUSSIA

2019 ◽  
Vol 2 (5) ◽  
pp. 249-256
Author(s):  
Arseniy Belozsertsev ◽  
Irina Provornaya
Keyword(s):  
Oil And Gas ◽  
Linear Estimation ◽  
Hypothetical Model ◽  
Private Partnership ◽  
Investment Projects ◽  
The Public ◽  
Oil And Gas Sector ◽  
Positive Effect ◽  
Project Realization

The linear model for «Yamal LNG» is estimated using DCF method. The hypothetical model without PPP mechanisms is also considered in the article. The linear estimation is not enough for a huge long-term project. Therefore, the risk analysis is carried out in the article. The positive effect on region development is shown in order to estimate social sides of the project realization. As a result, we get project’s NPV of $1,337 blns, which would be true with 49,3% likelihood. The denial of PPP mechanisms leads to $-7,1 blns NPV.

Digital currencies and digital transformation strategy

2021 ◽  
Vol 23 (1) ◽  
pp. 13-18
Author(s):  
ILYA EMELIN ◽  
Keyword(s):  
Structural Changes ◽  
Well Being ◽  
Digital Transformation ◽  
Business Partnerships ◽  
Negative Consequences ◽  
Digital Service ◽  
Complicated Process ◽  
The Stability

The paper examines the events of the Gaidar Forum – 2021 dedicated to the features of digital transformation. By analyzing the speakers’ presentations, the author notes the need to minimize the negative consequences of the coronavirus pandemic for the world economy, to unleash the creative potential and sustainable development of countries. At the same time, the question of creating an image of the future, a semantic paradigm, a strategy for the development of an integral system remains relevant. This requires strengthening business partnerships, well-coordinated interaction of government agencies (departmental and interdepartmental), and improvement of the digital economy during its transformation. The digitalization of economy enhances economic growth, creates opportunities for structural transformations, and necessary conditions for the “post-covid” development of the healthcare system. Digitalization should bring about a proactive, standardized online public service delivery. Digital transformation brings many significant structural changes affecting many areas of our lives. Since digitalization is a long-term and complicated process, particular attention should be paid to maintaining the stability of the labor market, the efficiency of the education system, and the security of big data. Digital transformation should improve the quality of public services, the overall number of digital service users, and the growth of citizens’ well-being

L'impegno nucleare di Edf in Francia e nel mondo

2009 ◽  
pp. 91-97
Author(s):  
Bruno D'Onghia
Keyword(s):  
Best Practices ◽  
Legal Framework ◽  
Nuclear Program ◽  
The Public ◽  
Stop And Go ◽  
Single European Market ◽  
European Standards ◽  
To Come

- The success of the French nuclear program can suggest valuable lessons to Italy if she wants to come back to this technology: - nuclear is a choice of long-term that requires stable and long lasting strategies and does not tolerate "stop-and-go" and change of mind according to the pace of change of political majorities and governments; - in order to be competitive, a number of standardized reactors not too distant in time has to be realized; - the "country system" must be able to manage a complex industrial program, not in autarky, but in the framework of the single European market; - the public acceptance attitude should be developed and consolidated over time through the quality of industrial initiatives and demonstration of knowing how to achieve to announced targets; - the legal framework for the authorization process and the organization of the security authority should be guided by the international "best practices". The adoption of European standards and a European "design certification" should also be promoted.Key words: Nuclear energy, Edf strategies, nuclear waste.JEL classifications: G11, L20, L94

LEGAL AND REGULATORY FRAMEWORK FOR STRATEGIC MANAGEMENT OF STATE JOINT-STOCK COMPANIES IN UKRAINE

2019 ◽  
Vol 5 (1) ◽  
pp. 225-237
Author(s):  
Iryna Ratynska
Keyword(s):  
Public Sector ◽  
Strategic Management ◽  
State Level ◽  
Legal Framework ◽  
Regulatory Framework ◽  
Decentralized System ◽  
National Legislation ◽  
The Public ◽  
The One

The article analyzes the features of the existing legal framework of strategic management of state joint-stock companies in Ukraine. It was established that Ukraine has formed a regulatory framework for the management of state-owned companies, which is typical for a decentralized system of management of state-owned objects. It was covered that the for-mation of the modern regulatory framework of this activity took place in 3 stages. For all stages, it is characteristic that at each of them long-term planning of development of the public sector of the economy had declarative, exclusively formal character. It was found that on the one hand, in the current national legislation, at the state level of management of joint-stock companies of the public sector of the economy, an unlimited number of too detailed program and forecast documents are recorded. On the other hand, the priority and coordination of such documents have not been established. In addition, the attention is focused on the fact that in the national legislation there was a consolidation of the contradiction between the strategic and operational management of state joint-stock companies.

scholarly journals Legal and regulatory barriers to effective public-private partnership governance in Kazakhstan

2015 ◽  
Vol 28 (3) ◽  
pp. 181-197 ◽  
Author(s):  
Nikolai Mouraviev ◽  
Nada K. Kakabadse
Keyword(s):  
Government Regulation ◽  
Legal Status ◽  
Legal Framework ◽  
Public Agencies ◽  
Content Type ◽  
The Public ◽  
Wage Rates ◽  
Purposeful Sampling ◽  
The Government ◽  
Definition Of

Purpose – The purpose of this paper is to provide a critical assessment of legal and regulatory impediments to effective governance of public-private partnerships (PPPs) in Kazakhstan. Design/methodology/approach – The qualitative study develops propositions from the PPP literature and then tests them against findings from in-depth interviews. Interviewees have been selected by a purposeful sampling from PPP projects in Kazakhstan as well as from national and regional PPP centres. Findings – The identified barriers to effective PPP management include irregularities in the PPP legal framework, such as lack of legal definition of a PPP and controversy with the government guarantee’s legal status for its long-term payments to partnerships; bureaucratic tariff setting for partnership services; non-existent opportunity for private asset ownership; and excessive government regulation of PPP workers’ wage rates. Practical implications – The partners’ opposing perspectives on a number of PPP issues show that management needs to identify and carefully reconcile stakeholder values in a partnership in order to achieve more effective PPP governance. Practitioners, particularly those in the public agencies, have to be concerned with ways to reduce the government overregulation of the private operators, which is likely to result in greater PPP flexibility in management and, ultimately, higher efficiency in delivering the public services. Originality/value – By elucidating multiple examples of overregulation and PPPs’ inefficiency, the paper demonstrates that the government dominance in PPP management is conceptually inappropriate. Instead, the government should adopt the concept of co-production and manage its relations with the private sector partner in a collaborative fashion.

scholarly journals Mechanisms underlying major investment projects in the Romanian public administration: strong and long term collaboration among stakeholders

2017 ◽  
Vol 11 (1) ◽  
pp. 949-959
Author(s):  
Laurian Gabriel Tănăsescu
Keyword(s):  
Public Procurement ◽  
Electronic System ◽  
Sources Of Information ◽  
Grant Application ◽  
Data Set ◽  
Investment Projects ◽  
The Public ◽  
Link Type ◽  
Funding Programme

Abstract Starting from the existing situation, in order to understand the mechanisms underlying investment projects financed from public funds in Romania, we analysed the following public sources of information: For projects implemented before 2007, we analysed data available on the Internet, including databases of international donors such as www.dgmarket.com, http://www.ted.europa.eu/, etc. We analysed data made available by the Public Procurement Electronic System through the portal http://data.gov.ro. The data set analysed includes over 8 million awarding contract notices. For the EU funded projects, we requested the Ministry of European Funds to offer us access to the relevant database (SMIS), which includes all the projects financed under the European funding programme 2007 – 2013 (projects implemented before 31.12.2015). Comparing data from all these sources leads to the conclusion that the information is coherent and represents a credible basis for our analysis. We found that 48% of all investment projects implemented in Romania in 2007 – 2016 and co-funded under European funds (in terms of the share of eligible expenses) requested outsourcing services for the preparation of the project documentation needed to apply for funds; such expenses represent almost 3 % of the total eligible project expenses approved. Almost 36% (in terms of the share of eligible expenses) of all investment projects implemented in Romania in 2007 – 2016 and co-funded under European funds, revealed a strong and long term relationship between the company that participates in the elaboration of the grant application and the beneficiary of funds. This collaboration continued throughout the implementation of the project. These companies delivered services / supplied goods / carried out construction works whose value exceeds 15 billion lei, which represents over 54% of the total eligible costs of the respective projects.

scholarly journals Legal settlement in the inland water shipping of Ukraine

2021 ◽  
pp. 219-228
Author(s):  
Y. Paida
Keyword(s):  
Water Transport ◽  
Well Being ◽  
Legal Framework ◽  
The State ◽  
Effective Control ◽  
Inland Waterways ◽  
The Public ◽  
State Management ◽  
Transport Services ◽  
Structured System

The creation of legal incentives in the field of shipping is a prerequisite for improving the economic well-being of society and, as a consequence, a priority of Ukrainian domestic policy. The need for more effective control and supervision in the field of shipping, ensuring a higher level of safety, detection, termination and elimination of vi¬olations of the law, requires close attention to this problem by both the state and its authorized bodies in general. So, the development of Ukraine’s inland waterways requires the improvement and advancement of shipping and appropriate infrastructure. The article deals with the legal framework for navigation in inland waterways of Ukraine and it is defined the concept of organization of water transport activities. It is outlined the structured system of water transport management bodies of Ukraine which is oriented towards the goal defined by the public interest, with the help of both legal and material means, as well as it ensures the achievement of the desired result, the final goal re¬garding the safe and economically efficient functioning of the water transport industry. It is also discussed the legal framework for navigation in inland waterways of Ukraine in detail and defined the concept of water transport activ¬ities organization. The object of administrative regulation, modified in connection with the transition to market re¬lations by improvement of the structure and normative base of central executive bodies activities, has been studied.The author pays considerable attention to the state management and regulation of economic activity in inland waterway transport and responsibility for the rules violation of navigation in inland waterways of Ukraine. It is proposed to introduce new more improved levers and methods of managing the transport services markets and directly the participants of the transport process providing it, that is, shipping companies.

The role of moral transaction mode for sustainability of banking business

2017 ◽  
Vol 44 (12) ◽  
pp. 2238-2256 ◽  
Author(s):  
Sirajo Aliyu ◽  
Rosylin Mohd Yusof ◽  
Nasri Naiimi
Keyword(s):  
Business Model ◽  
Well Being ◽  
Sustainable Business ◽  
Term Survival ◽  
Content Type ◽  
Proposed Model ◽  
Banking Business ◽  
Model Components ◽  
The Impact

Purpose The purpose of this paper is to propose the use of Islamic moral transaction mode as a moderator in sustainable Islamic microfinance banks (IMFBs) business model. Design/methodology/approach The paper highlighted the major issues of microfinance banks in Nigeria and presented an integrated model that will suffice the long-term survival of the institution. Moreover, regression analysis is also employed to examine the impacts of financial outreach on the Nigerian economic growth. Findings The authors find that Islamic moral transaction mode will moderate the sustainable Islamic banking business which can influence the sustenance of IMFBs and the well-being of the society through financial outreach. Research limitations/implications The paper has empirically tested the impact of financial outreach on growth, and suggested future studies to investigate the existing relationships among the proposed model components. Therefore, further studies have the opportunity to develop measurements that will guide in testing the model, as well as strengthening its components. Practical implications Implementing this model will enhance the sustainability of IMFBs and socio-economic well-being of the society through financial outreach. Consequently, this study also suggests other policy measures that will improve the sustenance of IMFBs and the society as a whole. Originality/value The paper contributes to the existing literature of microfinance banks by linking the components of the sustainable business model to primary evidence of Sharia coupled with an in-depth link to generosity.

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