The review of the financial strategies of Polish pulp and paper companies listed on the Warsaw Stock Exchange

The review of the financial strategies of Polish pulp and paper companies listed on the Warsaw Stock Exchange. The main purpose of this paper is to evaluate the financial strategy undertaken by the polish pulp and paper companies listed on Warsaw Stock Exchange in 2018 - 2020. In this paper three most frequently used indicators characterising company’s financing strategy were analysed, namely: equity capital share in total capital, equity capital share in fixed assets and long-term debt share in total debt. The calculations used data from publicly available quarterly financial statements of the analysed enterprises for the period from 1st quarter of 2018 to 3rd quarter of 2020. The calculations showed that Kompap has a more moderate policy of financing its activity. The second company, Arctic Paper, was characterized by a more risky approach to the financing strategy.

Cluster Analysis of Financial Strategies of Companies

Measuring the value of companies and assessing their risk often relies on econometric methods that consider companies as a set of objects under study, homogeneous in the sense of their use of financial strategies. This paper shows that cluster analysis methods can divide companies into classes according to financial strategies that they employ. This indicates that homogeneity can be considered within these classes, while between-class companies should rather be perceived as heterogeneous. The clustering of companies has to be performed on quite a dense set of strategies, which requires a combination of formal and heuristic methods. To divide companies into classes, we used financial coefficients characterizing strategies for the 2030 largest non-financial companies within the time period from 2006 to 2018. As a result, a stable division into seven clusters/strategies was obtained. We revealed that some strategies were more characteristic for the companies of high-tech economy, while others were typical for the companies in basic industries. The dynamics of clusters is characterized by an increase in the share of risky strategies. A good meaningful interpretation of the resulting clustering confirms its consistency. The identified clusters can be used as dummy variables in econometric studies of companies to improve the quality of the results.

Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia

The relevance of the research topic is determined by the need to respond to increased climate risks, which makes countries develop climate policies that can effectively meet sustainable development challenges and protect national economic interests. The transformation of climate policy causes the need to shift capital flows from “brown” economy sectors to “green” ones and integrate environmental factors into the process of making financial and investment decisions. At present, the EU is actively developing a climate finance system which will have an impact on the Russian economy. The article is aimed at outlining the changes in climate policies and financial strategies in the EU and Russia, influenced by the global climate agenda. It analyses the volumes and sources of climate finance mobilized by the EU, as well as regional support instruments in the transition period. The article determines the current changes in the Russian Federation’s climate policy. As a result of the research, the authors have come to the following conclusions. The EU is a vivid example of the fact that countries have long moved from climate change debates to the implementation of specific measures. The Russian Federation lags far behind the EU in terms of both mobilizing financial resources to ensure the transition to a low-carbon economy, and developing proven emission control instruments which help to stimulate the reduction of greenhouse gas emissions and fulfill the obligations under the Paris Agreement.

The review of the financial strategies of Polish wood-industry companies listed on the Warsaw Stock Exchange

The review of the financial strategies of Polish wood-industry companies listed on the Warsaw Stock Exchange. The paper focuses on the analysis of the financing strategies of wood industry enterprises listed on Warsaw Stock Exchange in 2018 - 2020. This paper examines three main values characterising company's financing strategy: equity capital share in total capital, equity capital share in fixed assets and long-term debt share in total debt. The data for calculations was taken from publicly available quarterly financial statements of analysed entities from 1st quarter of 2018 to 3rd quarter of 2020. The analysis showed that moderate financing strategy was used by Biofactory and KLON companies and an aggressive strategy was used by Standrew. KPPD financing strategy was not possible to clearly define due to the high volatility of values of examined ratios and depend on the considered period. The highest variability in the structure of foreign capital was observed in KLON - in this company the highest level of long-term debt was observed (above 70% of total debt).

Aplicación de herramientas y estrategias financieras que contribuyan eficientemente a la toma de decisiones y rentabilidad económica de carreras de grado y postgrado de la PUCE, Sede Santo Domingo, al cierre del año 2020

La presente investigación tiene como objetivo la aplicación de técnicas, herramientas y estrategias financieras que contribuyan al proceso de toma de decisiones y la rentabilidad económica de las carreras de grado y postgrado de la PUCE Sede Santo Domingo. El estudio se fundamenta en el análisis estructurado y real de sus datos, ya que existe falta de información que impide que la toma de decisiones transparente el impacto en las actividades operativas de la institución. El enfoque de la investigación es mixto, un diseño metodológico no experimental, ya que hace referencia al estudio del número de estudiantes y resultados económicos obtenidos que no son manipulados, con un tipo de investigación explicativa, descriptiva y correlacional. Los resultados confirman que, la implementación de técnicas y herramientas permitió establecer directrices para un mayor conocimiento de la situación actual de la institución, se identificaron las problemáticas y establecieron las estrategias financieras a corto y largo plazo. Concluido el procesamiento y análisis estructurado de información, se dio paso a la elaboración de estrategias financieras, orientadas en la atención de los puntos más importantes, tales como: el desarrollo de políticas de recuperación de cartera, política de pagos a proveedores dentro de los plazos convenidos, aprovechamiento de efectivo y sus equivalentes gestión a la recuperación de cuentas por cobrar relacionadas, considerar el análisis presupuestal periódico que ayuden a determinar la rentabilidad económica, por otro lado, la presentación y correcta lectura de los estados financieros periódicos, permiten encaminar de manera eficiente el proceso de toma de decisiones y coadyuven a alcanzar los resultados deseados. The objective of this research is the application of financial techniques, tools and strategies that contribute to the decision-making process and the economic profitability of undergraduate and postgraduate courses at PUCE Santo Domingo Headquarters. The study is based on the structured and real analysis of its data, since there is a lack of information that prevents transparent decision-making the impact on the operational activities of the institution. The research approach is mixed, a non-experimental methodological design, since it refers to the study of the number of students and economic results obtained that are not manipulated, with a type of explanatory, descriptive and correlational research. The results confirm that the implementation of techniques and tools made it possible to establish guidelines for a greater knowledge of the current situation of the institution, the problems were identified and the short and long-term financial strategies were established. Once the processing and structured analysis of information was concluded, the development of financial strategies was carried out, oriented towards the attention of the most important points, such as: the development of portfolio recovery policies, policy of payments to suppliers within the deadlines agreed, use of cash and its equivalents, management of the recovery of related accounts receivable, consider the periodic budget analysis that helps to determine the economic profitability, on the other hand, the presentation and correct reading of the periodic financial statements, allow to direct in a way efficient decision-making process and help to achieve the desired results.

NDC Invest Annual Overview 2020

NDC INVEST is an IDB Group platform offering financial solutions and technical support to help build national goals and transform them into attainable plans that generate prosperous, resilient, and carbon neutral economies. Throughout the years closely supporting LAC countries, NDC INVEST has gained valuable experience and knowledge in designing and implementing concrete actions that lead to long-term climate resilience and net-zero emissions by 2050. In 2020, NDC INVEST confirmed its key role in successfully translating national climate commitments into physical and beneficial economic plans and transformational development projects. 331 initiatives have been supported in IDB Group regional member states through the IDB sovereign window, IDB Invest and IDB Lab. This publication highlights the successful work of NDC Invest in i.) developing relevant knowledge and building national capacities for long-term strategies (LTS), ii.) supporting countries in creating ambitious climate goals and NDCs, and iii.) implementing LTS and NDCs through financial strategies and investment plans.

Estrategias financieras para la eficiencia de las operaciones en departamento de finanzas

El presente estudio tiene como propósito conocer, identificar y evaluar los procedimientos y estrategias financieras aplicadas en el departamento de finanzas de la empresa Febeca, C.A. El estudio se enmarcó dentro de un diseño metodológico no experimental transaccional, del tipo de investigación de campo, con un nivel descriptivo. Se pudo concluir que la empresa objeto de estudio carecía de un proceso de planificación financiera sólido y enfoques orientados a la eficiencia de las operaciones y capacidades internas y externas, para una buena administración y ejecución de sus estrategias financieras dirigidas a la sostenibilidad y crecimiento, lo cual la coloca en situación de riesgo frente a las condiciones políticas, sociales y económicas del país. Partiendo de esta perspectiva se recomendaron una serie de acciones para el desarrollo de las estrategias y garantizar la eficiencia, sostenibilidad y crecimiento de la empresa. ABSTRACT The purpose of this study is to know, identify and evaluate the procedures and financial strategies applied in the finance department of the company Febeca, C.A. The study was framed within a non-experimental transactional methodological design, of the field research type, with a descriptive level. It was concluded that the company under study lacked a solid financial planning process and approaches oriented to the efficiency of operations and internal and external capacities, for a good administration and execution of its financial strategies aimed at sustainability and growth, which places it at risk from the political, social and economic conditions of the country. Based on this perspective, a series of actions were recommended for the development of strategies and guarantee the efficiency, sustainability and growth of the company.