Spatial Spillover Transmission Effects of Financial Development on Economic-Zone Financial Efficiency in China

This article attempts to fill important knowledge gaps to explore the spatial spillover effects of financial markets on regional financial efficiency in eight economic zones using three-stage superefficiency data envelopment analysis (DEA) and Durbin’s spatial econometric model. The average financial efficiencies in the North coast, East coast, and South coast economic zones reach the superefficiency DEA relatively efficient level, while the average financial efficiencies in the Northeast, Middle Yellow River, Middle Yangtze River, and large West-south and West-north economic zones reach the superefficiency DEA relatively inefficient level. Except for the North coast economic zone, seven equity markets have significant impacts on regional financial efficiency, and local equity markets in the Northeast, South coast, Middle Yellow River, and Middle Yangtze River economic zones generate significant spatial spillover effects on neighboring regions’ financial efficiency. Local credit markets only in the Northeast and South coast economic zones have significant spatial spillover influences on neighboring regions’ financial efficiency. Debt markets in the North coast, East coast, South coast, Middle Yangtze River, and large West-south economic zones have significant influences on regional financial efficiency, and local debt markets in the East coast and Middle Yangtze River economic zones generate significant spatial spillover effects on neighboring regions’ financial efficiency.

Railway efficiency. Metodological aspects

Improving market competitiveness and economic efficiency was the objective behind the demonopolisation and liberalisation of the railway sector in the European Union. Achieving this objective remains important and crucial to the development of a single rail transport market. The transport performance and financial results of the sector under the new, separative organisational structure of railways in the EU is the result of the action of many different actors, private operators and public entities. This significantly complicates the development of uniform and clear comparable performance evaluation indicators for the sector and makes comparative analyses difficult. Moreover, the specific situation of railways in the EU as a tool for implementing environmental and social policy may conflict with the requirements of financial efficiency. The article presents determinants and methods of measuring railway efficiency proposed by researchers and practitioners.

Quantitative Research on Profitability Measures in the Polish Meat and Poultry Industries

Business entities strive for continuous adaptation to changing situations and needs. The decisions of business entities entangled in multifaceted processes of economic, social, and environmental progress must be taken on the basis of reliable knowledge, developed know-how, scrupulous recognition of the initial state, and foresight of the multiple consequences of business actions over a long horizon. In such a situation, the measurement of financial efficiency in terms of the profitability of enterprises in meat and poultry industries is extremely desired and provides valuable information on the necessary modifications to reduce the potential risks of business operation. The Polish meat and poultry industries should take into account current and future market requirements, competition, and consumer response. The dynamic progress of technology is forced to take appropriate steps to improve and modernize products, services, and methods of solving profit losses. The aim of the paper is to calculate and evaluate the statistical relationships between profitability ratios in Polish meat and poultry enterprises divided into four groups: slaughterhouses, meat enterprises (small, medium, and large), poultry meat enterprises, and meat trade enterprises. In the theoretical part of the study, methods of descriptive, comparative, deductive, and synthetic analyses were used. In the practical part of the study, panel data from the entire meat and poultry industries in the period from 2010 to 2019 were used. For the measurement of financial efficiency, methods, such as financial indicator analysis, panel database modeling, and nonparametric ANOVA, were applied. The ANOVA method was used to test only the statistically significant relationships between profitability ratios across all groups of examined enterprises in the meat and poultry industries. To summarize, the optimal level of profitability was achieved by all groups of examined enterprises, except small meat enterprises. The highest financial efficiency in the area of profitability was reached by poultry enterprises. Moreover, financial support for small companies in the meat industry can bring tangible benefits such as maintaining a diversified product range locally and transforming small meat companies into buying centers for the local community. Both are effective solutions, especially in view of the post-pandemic situation.

Environmental responsibility and financial policy of the company: methodological aspects of the analysis

The actualization of environmental problems makes it necessary to study them in connection with the financial and economic aspects of the modern company. The main content of the monograph is formed by the conceptual, theoretical and methodological aspects of the analysis of corporate financial policy, studied in conjunction with the study of the factors of environmental responsibility of the company. The necessity of revision is analyzed and the directions of improvement of the methodological apparatus for the formation and implementation of financial policy in new conditions are determined. Particular attention is paid to the empirical analysis of indicators of environmental responsibility and environmental efficiency at different organizational levels. The results obtained are valuable in order to improve corporate practices for managing environmental responsibility factors and improving the financial efficiency of companies. For a wide range of readers, including researchers, practitioners, postgraduates, applicants and students studying in the areas of "Economics", "Finance and Credit", "Management".

Evaluation and Influence of Chinese Enterprises' Financial Efficiency Based on the Malmquist Index

This paper introduces a superefficiency financial efficiency model with undesirable output based on the features that the output of industrial enterprises contains desirable output as well as undesirable output. Furthermore, the Malmquist index model is constructed for financial efficiency dynamic study, and the spatial Durbin model is constructed for evaluation and impact of enterprises. According to the financial data of Chinese enterprises from 2007 to 2019, this paper evaluates the financial efficiency of Chinese interprovincial industrial enterprises dynamically and measures the influence levels of major impacts on the financial efficiency of Chinese interprovincial industrial enterprises quantitatively. As reported by this paper, the conclusions are as follows: (1) In reference to the financial efficiency dynamic study analysis, there is an obvious growth trend in the financial efficiency of Chinese interprovincial industrial enterprises in different years. Based on the horizontal analysis of financial efficiency, there is a relatively large gap in financial efficiency among Chinese interprovincial industrial enterprises. (2) From the separation factors of financial efficiency analysis, the main factor affecting the growth of the financial efficiency of Chinese industrial enterprises is the modification of technology, and the modification of technical efficiency has a minor impact. (3) In accordance with the impacts of enterprise efficiency analysis, several major factors influence the financial efficiency of Chinese industrial enterprises such as major business cost, operating profit, total liabilities, national capital, and the number of R&D personnel.

Evaluate the financial efficiency of semi-intensive prawn farming: A case study in My Xuyen district, Soc Trang province

Semi-intensive prawn farming is currently facing difficulties in both the production and consumption processes. Climate change and an unstable output market are the main causes affecting the investment efficiency of semi-intensive prawn farming. The authors carry out the study to evaluate the financial efficiency of semi-intensive prawn farming in My Xuyen District, Soc Trang Province. Research data are collected from 100 households raising prawns. The research results show that, with an average investment cost of 19.8 million VND/1000m2/crop, farmers may earn a profit of 6.5 million VND/1000m2/crop, and the profit margin achieved reaches 0.25 times. Therefore, the model of semi-intensive prawns achieves high financial efficiency and brings a great income for prawn farmers.

Factors impacting the financial efficiency of pig farming models in Can Tho City

The study’s objective is to evaluate the financial efficiency and determine the factors affecting pig farming models’ financial efficiency in Can Tho City. The study collected data from 118 households raising pigs for meat. The methods used in the study include financial ratios analysis and multivariable linear regression. The research results show that models of raising pigs for meat have high financial efficiency. The financial performance of the models is positively correlated with the educational level of the farmer and the participation in technical training programs. In contrast, financial efficiency is negatively correlated with seed cost, feed cost, farm drug cost, and total risk.

Financial efficiency of the municipal waste management system on the example of selected cities in Poland

Purpose of the study: The municipal waste management system covers all activities related to waste, and its organization is a mandatory task of the local government. The system is financed by income from fees paid by property owners in the commune and should be balanced. The aim of the paper is to assess the functioning of waste management systems in selected cities in Poland, in terms of their self-financing. Methodology: The comparative analysis covered the revenues and expenses related to municipal waste management systems as well as the fee rates in 2020. In some cases, the change of the phenomenon over time was analyzed. Main findings: In seven out of ten analyzed cities, the system was deficient, while the other ones generated a surplus, which could result from an increase in the fee rates. Compared to other cities, high rates do not cause a surplus of the system, an example of which is Łódź. The presented data, concerning the last two or three years, are insufficient to explain clearly what is behind the shortages of municipal waste management systems. Application of the study: The content of the paper may be useful for local government practitioners and other people dealing with the effectiveness of municipal finance. Originality/Novelty of the study: The municipal waste management system in communes, described in the paper, is used in Poland since 2013 and is still being modificated. There are no studies on its effectiveness and efficiency. The presented data may inspire to a deeper analysis, which should be subjected to the financial efficiency of municipal waste management systems in the time perspective.