Stress at Work: Can the Spiritual Dimension Reduce It? An Approach From the Banking Sector

Stress at work motivated by pressures and labour control can alter the behaviour of workers. Since the 2008 economic crisis, banking in Spain has suffered a series of massive lay-offs to adjust to the new market situation. This new financial restructuring has meant greater labour pressure to achieve the required results. Faced with this adversity, employees have experienced greater stress at work. This work analyses the effect of reinforcing employees’ spiritual dimension to transcend and correctly manage work pressure and stress at work. In so doing, 601 employees from 294 financial entities of five large IBEX banks participated in this pilot project. Through a participatory methodology based on a review of the literature, the study indicators have been delimited. The data obtained have been treated using the SEM-PLS method. The results propose the incorporation of a series of tools to reinforce values and transcendent employee behaviour.

Covid-19 Pandemic Management: Effects on Indian Economy—Reflections for Policy and Action Initiatives

Pandemic is a type of epidemic that spreads over significant geographical areas and affects a large percent of population on a national or global level. Pandemic, as a project, has a lifecycle, a beginning and an end, though uncertain. The objective of the article is to trace various types of pandemics, to discuss their adverse effects of unemployment, distrust and loss of production. It presents various stimuli and remedial measures, a model to work out pandemic cost and its financial impact—estimated as ₹130 lakh crore in India. The article also gives an overview of positive results in the form of appreciations and acknowledgements, change in work culture resulting in work from home (WFH) approach. Financial restructuring resorted to by various business houses and future policy implications are also presented. The article is based on data drawn from government notifications and published reports. The study is exploratory, descriptive and analytical; it is presented in six parts.

Financial Restructuring and Asset Management Companies in International Financial Markets. Case Study of China: Lessons for Tanzania

Each company owns its “life cycle”. Throughout this cycle, companies use many factors that impact their business to track outcomes and shortcomings. Circumstances such as “financial restructuring” inaction and insolvency are the basic stages of a company’s lifecycle. The financial restructuring can be articulated as a deteriorating situation to circumstances in which the corporation is incapacitated in meeting its financial obligations, where the first signs of financial shortage are generally taken as a violation of trust/contract with suppliers and the payment of the dividends. This paper reviews the mechanism of restructuring of the bank by focusing on areas such as assets Management Companies (AMCs), their institutional characteristics and roles in the Chinese banking system, legal issues regarding banks’ operations in China and finally addresses the law and policy issues related to the disposal of NPLs in the banking system China. The finding is that, since this ‘phenomenon’ is not yet applicable to Tanzania, and also it is amidst the basic factors for Foreign Direct Investments in a country, Tanzania can look to China’s experience as a lesson, especially in the solicitation of this method without opposing political theory. That is because this feature of China’s unique legal system basing more on practicality rather than judicial power.

Assessment of the current state of the use of non-monetary methods of state regulation of financial recovery of banks

The object of research is the processes of state regulation of financial recovery of banks by non-monetary methods. One of the most problematic areas is determining the practical aspects of regulating the financial recovery of banks by non-monetary methods, which include: – establishment of mandatory requirements for banking services and business processes; – carrying out checks and taking measures in the event of a violation; – establishment of methods of organizing or conducting banking activities in the process of financial recovery; – licensing rules. An important aspect is the identification of factors that exacerbate the problems of the banking system, in particular, lead to large-scale lending to related parties; opaque ownership structure; inaccurate financial statements; fictitious accounts in foreign banks; money laundering and the like. Improvement of state regulation of financial recovery of banks through the use of preventive measures is possible with the effective use of non-monetary methods of such regulation. The study used methods of analysis and synthesis, induction and deduction, methods of systematization and comparison, tabular and graphical methods. The composition of monetary instruments and their features have been determined. The proposed measures for non-monetary regulation of financial recovery of banks are related to: – improving the procedure for disclosing information on the ultimate owners of the bank; – strengthening the responsibility of banks for the results of their activities; – improving the mechanisms for minimizing credit risks for banks both at the stage of issuing a loan and at the stage of its servicing; – improving the procedure for financial restructuring of problem assets of banks; – set of recreational measures to restore the bank’s solvency, prevent bankruptcy or increase its competitiveness. The use of non-monetary methods of financial recovery and the introduction of the requirements of European legislation into national banking practice testifies to the improvement of state regulation of financial recovery of banks, protects them from insolvency and ensures development.

Book review: “Innovation in financial restructuring: Focus on signals, processes and tools”

This review analyses the book titled "Innovation in financial restructuring: Focus on signals, processes and tools" co-authored by Marco Tutino and Valerio Ranciaro (Virtus Interpress, 2020; ISBN: 978-6-177309-10-8). The review highlights the original approach of the book to financial restructuring management and turnaround process. It describes in detail the structure of the book and content of chapters within the book. The review indicates that the book provides indications that will help academics, regulators and professionals to better manage the financial restructuring and prevent financial crisis.

Start-Up Investor Governance Case

In the current age of innovative business financing opportunities available from fintech apps, social media crowdfunding sites such as Kickstarter, Indiegogo, and RocketHub, et.al., and friends and family private equity investors, start-up firms can strategically source their venture capital funds from many globally disperse organizations and individuals. As the firm in this case learned, the benefit of alternative investing sources comes with a critical hidden risk for corporate governance. After a financial restructuring, a typical Silicon Valley software start-up found itself with close to 300 external individual shareholders, some of whom had not been documented as accredited investors. The regulatory agency could decide that the prior actions of the founders and the decisions of the board had been prejudicial to the interests of the minority investors. The management of this small private company faced an atypical investor relations dilemma, before its initial public offering (IPO).

Preventive Restructuring as a New Trend of Insolvency Legislation

The need to harmonize corporate insolvency legislation has led to the adoption by the European Union of the relevant regulations – the Recommendation on a New Approach to Business Failure and Insolvency and the Directive 2019/1023 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (Directive on restructuring and insolvency). The purpose of the article is to reveal the essence of preventive restructuring, to assess the main differences in the definition of preventive restructuring in accordance with the provisions of the EU Directive and the Code of Ukraine on bankruptcy procedures. In this work, preventive restructuring is considered as the main tool for timely prevention of bankruptcy, the implementation of which in the EU member states has significant differences. An overview of the provisions of EU regulations on preventive restructuring and the process of their implementation in the member states was done. A comparative analysis of the EU directive on the mechanisms of preventive restructuring and certain provisions of the Code of Ukraine on bankruptcy procedures related to reorganization prior to the commencement of bankruptcy proceedings was carried out. It was found that the Code lacks such principles as early appeal, protection of new financing, taking into account the peculiarities of small and medium-sized businesses. Differences in the use of other principles were also identified. Ukrainian legislation encourages debtors to liquidate their business rather than to carry out financial restructuring. Taken into account the European vector of development, today Ukraine has a real chance to improve insolvency legislation based on the provisions of the EU Directive.