scholarly journals SAFE GUIDELINES FOR THE SUSTAINABLE SOCIO-ECOLOGICAL AND ECONOMIC DEVELOPMENT: REGIONAL ASPECT

2021 ◽  
Vol 2 (5) ◽  
pp. 102-112
Author(s):  
P. P. Pastushenko ◽  
H. O. Obikhod ◽  
Y. M. Khvesik
Keyword(s):  
Economic Development ◽  
Bank Loans ◽  
Economic Consequences ◽  
Market Participants ◽  
Regional Aspect ◽  
Separate Area ◽  
Global Aspect ◽  
State And Local ◽  
Social Environmental ◽  
The Cost

The article reveals the objective preconditions for the formation of security guidelines for regional development through the balancing of social, environmental and economic goals. The process of formation and expansion of the concept of ecological safety in the global aspect is analyzed and specific ecological problems for the regional level are allocated. The dynamics of social and economic consequences of the manifestation of ecological dangers is determined and the directions of financial guarantee of safe guidelines of sustainable development for the regions are outlined. The concept of "environmental security" is defined as the ability of the environment- society-economy to maintain balance and equilibrium on the basis of dynamic recovery and self-improvement, to resist external and internal threats and challenges and to ensure acceptable levels of risk and sustainability of socio-economic development. and socio- economic potential. The main functional purpose of regional financial mechanisms of environmental regulation is determined, it is to regulate the activities of market participants in a separate area in order to ensure environmental and anthropogenic safety. In this context, the essence of the relevant financial mechanisms is defined as a system of specially developed and legally enshrined in the legal field forms, methods and tools for the formation and use of financial resources to achieve the development of the region. It was found that the most effective of them are such tools as financing through state and local budgets, environmental funds, bank loans, funds of enterprises and organizations, foreign investment, environmental insurance of dangerous objects. The effectiveness of modern financial mechanisms is determined by the amount of revenues to budgets of different levels for the use of natural resources, the level of environmental pollution and the cost of its protection, localization and prevention of environmental emergencies, as well as the effectiveness of preventive measures.

Auditor Changes and the Cost of Bank Debt

2016 ◽  
Vol 92 (3) ◽  
pp. 155-184 ◽  
Author(s):  
Bill B. Francis ◽  
Delroy M. Hunter ◽  
Dahlia M. Robinson ◽  
Michael N. Robinson ◽  
Xiaojing Yuan
Keyword(s):  
Financial Reporting ◽  
Reporting Quality ◽  
Bank Loans ◽  
Financial Reporting Quality ◽  
Bank Debt ◽  
Market Participants ◽  
Research Designs ◽  
Private Credit ◽  
Loan Spreads ◽  
The Cost

ABSTRACT We examine the response of informed market participants to the informational signal of auditor changes. Using propensity score matching and difference-in-differences research designs, we document that loan spreads increase by 22 percent on bank loans initiated within a year after auditor changes, increasing direct loan costs by approximately $6.6 million. We also find a significant increase in upfront and annual fees and the probability of pledging collateral, consistent with an increase in screening and monitoring by banks. The increase in spreads is significant for client-initiated auditor changes, with or without disagreements with the auditor, as well as for auditor resignations. Further, the significant increase in loan spreads is documented for upward, lateral, and downward auditor changes. Our results are robust to other proxies for financial reporting quality. Finally, we find no effect resulting from the forced auditor changes due to Arthur Andersen. Collectively, these results suggest that voluntary auditor changes increase information risk, which is priced in private credit markets. JEL Classifications: G20; G21; G32; K22.

Spatial Development of Innovation Systems in Russia

2014 ◽  
Vol 9 (4) ◽  
pp. 289-304 ◽  
Author(s):  
Lidija Sergevna Arkhipova
Keyword(s):  
Economic Development ◽  
Russian Federation ◽  
Chemical Industry ◽  
Innovation System ◽  
Machine Building ◽  
Competitive Advantages ◽  
Regional Aspect ◽  
Level Of Economic Development ◽  
The Russian Federation ◽  
Effective Development

While the development of the country's national innovation system as a whole is very important and should be prioritized, its regional aspect is even more important. The specifics of the Russian Federation's transition to an innovation-based economy is in that that, at the present time, prioritized is the need to ensure the effective development of those economy sectors that underlie the country's specialization and may provide regional and national competitive advantages. To such sectors belong the chemical industry, machine-building and power energetics. We would like to note that initial innovation awareness indicators in the regions are comparable and do not differ greatly but the growth of activity can be observed only in some of the regions. The problem of large differentiation among the constituent entities of the Russian Federation by their level of economic development remains important and has to be dealt with. 

Effectiveness of Tax Policy of Ukraine: Evidence and Economy Implications

2020 ◽  
pp. 124-131
Author(s):  
Olena P. Slavkova ◽  
Oksana I Zhilinska ◽  
Maksym Palienko
Keyword(s):  
Economic Development ◽  
Tax Evasion ◽  
Tax Policy ◽  
The State ◽  
State Budget ◽  
Advantages And Disadvantages ◽  
State Tax ◽  
State And Local ◽  
Tax Payments

The article deals with the peculiarities of the formation and implementation of tax policy in the country. The analysis of change of tax receipts to the state and local budgets is carried out. The role of tax payments in the economic development of the country is determined. The efficiency of the state tax policy in Ukraine is analyzed, its advantages and disadvantages are determined. The important role of tax payments in stimulating economic and social development is substantiated. The analysis of the elasticity of change of indicators of economic development of the country from the change of volume of tax receipts to the budget is carried out. The necessity of improving the existing policy of establishing, accrual, payment, and distribution of tax revenues as one of the most promising areas to stimulate economic growth is concluded. Keywords: tax policy, revenues, tax evasion, state budget, elasticity, economic development

Industry Concentration and the Cost of Bank Loans

2010 ◽  
Author(s):  
Hoje Jo ◽  
Jay Junghun Lee ◽  
Jong Chool Park
Keyword(s):  
Bank Loans ◽  
Industry Concentration ◽  
The Cost

Pound Wise and Penny Foolish? Weight Loss and The Dynamics of Health Care Spending

2011 ◽  
Vol 14 (2) ◽  
Author(s):  
Thomas G Koch
Keyword(s):  
Weight Loss ◽  
Cost Savings ◽  
Cost Effective ◽  
Economic Consequences ◽  
Health Care Spending ◽  
Order Of Magnitude ◽  
Dynamic Measures ◽  
The Cost ◽  
The Impact ◽  
The Relationship

Current estimates of obesity costs ignore the impact of future weight loss and gain, and may either over or underestimate economic consequences of weight loss. In light of this, I construct static and dynamic measures of medical costs associated with body mass index (BMI), to be balanced against the cost of one-time interventions. This study finds that ignoring the implications of weight loss and gain over time overstates the medical-cost savings of such interventions by an order of magnitude. When the relationship between spending and age is allowed to vary, weight-loss attempts appear to be cost-effective starting and ending with middle age. Some interventions recently proven to decrease weight may also be cost-effective.

scholarly journals Stock price fragility and the cost of bank loans

2021 ◽  
Author(s):  
Bill Francis ◽  
Iftekhar Hasan ◽  
Yinjie (Victor) Shen ◽  
Pengfei Ye
Keyword(s):  
Stock Price ◽  
Bank Loans ◽  
The Cost

Debt maturity dispersion and the cost of bank loans

2021 ◽  
pp. 102049
Author(s):  
Wan-Chien Chiu ◽  
Tao-Hsien Dolly King ◽  
Chih-Wei Wang
Keyword(s):  
Debt Maturity ◽  
Bank Loans ◽  
The Cost

scholarly journals The cost of growth: small firms and the pricing of bank loans

2015 ◽  
Vol 46 (2) ◽  
pp. 255-272 ◽  
Author(s):  
Anoosheh Rostamkalaei ◽  
Mark Freel
Keyword(s):  
Small Firms ◽  
Bank Loans ◽  
The Cost

scholarly journals Empirical Evidence on Time-Varying Hedging Effectiveness of Emissions Allowances under Departures from the Cost-of-Carry Theory

2013 ◽  
Vol 2013 ◽  
pp. 1-8 ◽  
Author(s):  
Kai Chang
Keyword(s):  
Futures Market ◽  
Time Varying ◽  
Conditional Volatility ◽  
Conditional Correlation ◽  
Spot Prices ◽  
Market Participants ◽  
Hedging Effectiveness ◽  
Hedge Ratios ◽  
Cost Of Carry ◽  
The Cost

Under departures from the cost-of-carry theory, traded spot prices and conditional volatility disturbed from futures market have significant impacts on futures price of emissions allowances, and then we propose time-varying hedge ratios and hedging effectiveness estimation using ECM-GARCH model. Our empirical results show that conditional variance, conditional covariance, and their correlation between between spot and futures prices exhibit time-varying trends. Conditional volatility of spot prices, conditional volatility disturbed from futures market, and conditional correlation of market noises implied from spot and futures markets have significant effects on time-varying hedge ratios and hedging effectiveness. In the immature emissions allowances market, market participants optimize portfolio sizes between spot and futures assets using historical market information and then achieve higher risk reduction of assets portfolio revenues; accordingly, we can obtain better hedging effectiveness through time-varying hedge ratios with departures from the cost-of-carry theory.

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