Analysis of the Economic Sustainability of the Supply Chain Sector by Applying the Altman Z-Score Predictor

This paper fills the gap in the financial perspective of supply chain performance measurement, related to the lack of a bankruptcy probability indicator, and proposes a predictor which is the eighth-model of the Altman Z-Score Logistic Regression. Furthermore, a bankruptcy probability ranking is established for the companies’ supply chains, according to the industry to which they belong. Moreover, the values are set to establish three categories of companies according to predictor. The probability of bankruptcy is analysed and studied for the supply chain of different industries. The building industry is revealed to have the highest probability of bankruptcy.

FH&P RATING MODEL AND ITS APPLICATION WITHIN THE SLOVAK SPA ENTERPRISES

The aim of the paper is to propose a suitable structure of the newly designed Financial Health & Prediction (FH&P) rating model, and by putting it into practice in Slovak spa enterprises, to contribute to the development of financial management concepts for spa facilities operating in the field of tourism. The quantification of individual dimensions of the FH&P rating model was based on the calculation of selected ten key financial ratio indicators and prediction models. The values (in different units of measure) were converted to points using compiled transformation tables which formed the final score of the FH&P rating model and subsequently the proposed A-FX rating. Based on the results, Kúpele Bojnice, Inc. (SE03), Špecializovaný liečebný ústav Marína, s.e. (SE21) and Kúpele Nimnica, Inc. (SE07) received the best rating. This innovative model provides financial managers actual, simple and understandable overview of the financial health of a spa company and its future financial perspective. With a several adjustments, the FH&P rating model is easily applicable in any economic sector of Slovakia.

Problems of financing sources for environmental protection in strategic documents of the European Union and Poland in the new financial perspective for 2021–2027

Motivation: Over the past two decades, the world, and Poland with it, has faced a huge challenge of transforming its economy towards climate neutrality. The observed effects of climate change, such as abrupt weather changes (prolonged droughts, sudden downpours), increase in average temperatures, environmental pollution, call for systemic and social actions. It should be clearly noted that the responsibility for actions aimed at environmental protection is borne not only by public administration (central and local government), but also by the private sector, as the one using and influencing the environment. The year 2020 brought an unexpected global health crisis caused by the SARS-CoV-2 virus. MFF procedures developed up to that time were modified. The COVID-19 pandemic significantly affected the preparation of legislation, programs, and rules for obtaining funds from them for project implementation. Many legislative works have been postponed, causing delays. The fact of the pandemic has led to the implementation of the Instrument for Reconstruction and Enhancing Resilience, which includes large-scale financial support for public investments and areas such as green and digital projects, in addition to the regular financial perspective. Support will be provided in the form of loans (EUR 360 billion) and grants (EUR 312.5 billion). Aim: The aim of the study is to compare the financial instruments covered by the European Union financial perspectives 2021–2027 with 2014–2020 in the context of environmental funding sources in Poland. Results: Both in the financial perspective 2014–2020 and the new one for 2021–2027, environmental protection issues are one of the main priorities. The continuity of previous structural funds has been preserved and supplemented with new instruments in response to the unprecedented socio-economic situation that has arisen as a result of the global health crisis caused by the SARS-CoV-2 pandemic. As a result of negotiations, EUR 76 billion will be made available to Poland under the EU’s cohesion policy and the Fund for Equitable Transformation, whereas in the previous one the amount was EUR 85.2 billion. The allocation of funds and the directions of spending will not only result from Poland’s development needs, but also (and perhaps above all) from the modified priorities of the Union as a response to the health situation of the EU community after the pandemic and the continuation of existing activities related to research, innovation, digitization, climate and the environment. The launch of individual programmes will allow ongoing analysis and evaluation of both the solutions adopted in strategic documents and their effects.

Bibliometric Analysis for Working Capital: Identifying Gaps, Co-Authorships and Insights from a Literature Survey

From a financial perspective, working capital represents the liquidity of firms that makes them able to deal with short-term liabilities in current assets (inventories, receivables accounts, and net financial resources). However, this concept is also considered in scientific literature as, among other meanings, stock of productive capital, or variables costs. Considering the importance of working capital in a firms’ dynamics, the principal objective of this study is to highlight the main gaps and insights in literature concerning working capital and to suggest future research. For this purpose, bibliometric analysis was carried out through bibliographic information from both the Web of Science Core Collection and from the Scopus for the topic of “working capital”. These data were first worked through bibliometric approaches, considering the VOSviewer and Gephi software and later surveyed through a literature review. As the main insights, it is worth highlighting that there are several gaps in related literature, where the most worrying is the weak reference to sustainability or sustainable development concepts. Finally, the majority of the networked research was focused on just a few authors, organizations, and countries.

ANALYSIS OF THE MANAGEMENT OF THE FINANCIAL PERFORMANCE OF A POLITICAL PARTY IN ROMANIA USING THE CONCEPT OF BALANCED SCORECARD

The research is a case study on the analysis of the financial performance of a political party in Romania, at the end of 2020, using the strategic model for measuring the performance of the Balanced Scorecard. A review of the existing international scientific literature and case studies was conducted to define a balanced plan of performance indicators for one of the four perspectives of the BSC theoretical model, namely the financial perspective, which is common to both an economic organization and a political organization. The paper evaluates the financial activity of a political party through a computer application - BSC Designer Light, whose architecture allows customizing the theoretical model of the Balanced Scorecard on the activity of a political organization. The purpose of the scientific approach is to evaluate the result of the financial activity, quantifying the scores obtained by the analysed party for each indicator and sub-indicator defined within the financial perspective. This study can be a consistent basis for expanding research to assess the performance of a political party from an electoral or parliamentary perspective and can be a viable alternative to current methods of quantitative evaluation used by political parties in analysing the activity results.

PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN , DAN LEVERAGE TERHADAP KINERJA KEUANGAN PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR (Studi Kasus Perusahaan Makanan dan Minuman Yang Terdaftar Di BEI Tahun 2018-2019)

Analysis of the company's financial performance needs to be done to measure the extent of the company's achievements from a financial perspective. The financial statements will show whether the company can survive in the next era. If a company experiences a minus in its finances, then the risk of going bankrupt will be greater and the fate of the company and its employees will be at stake. This study aims to examine how the effect of capital structure, firm size and leverage, either partially or simultaneously, on the financial performance of manufacturing companies of Food and Beverage Companies Listed on theIndonesia Stock Exchange in 2018-2019.The population in this study were 24 manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2019 period. The sampling method used is purposive sampling, with a total sample of 17 companies, for 2018-2019 so that the research data is 34. Data collection techniques by downloading financial reports from the website www.idx.co.id. Data analysis techniques used in this study using multipleregression and hypothesis testing T test and F test. The results showed that the capital structure and size of the company have an effect on the company's financial performance, leverage has no effect on the company's financial performance, and simultaneously shows that there is an influence between capital structure, company size and leverage simultaneously on the company's financial performance.

Effects of the „Polish Deal” Programme on Local Government Units

The aim of this paper is to present the „Polish Deal” program in the context of its influence on budget management of local government units. The paper puts forward a thesis that changes in the tax system, as specified in the „Polish Deal” programme, will have a negative impact on the finances of local government units. The study was based on selected literature, documents on the financial perspective for 2021–2027, the „Polish Deal” programme, financial information on the state of finances of local government units in 2018–2020 and opinions of the Union of Polish Metropolises and the Association of Polish Cities to the draft Polish Deal programme. The period of the SARS-CoV-2 pandemic coincided with the beginning of the next financial perspective in the European Union for the years 2021–2027. EU institutions have prepared a number of instruments relevant to the post-pandemic era, including the Next Generation EU. At the same time, they imposed on Member States the obligation to prepare their own post-pandemic plans. Poland prepared the National Recovery Plan. This was followed by the government’s presentation of the „Polish Deal” program, which is a promise of socio-economic reforms. The projects included in the „Polish Deal”, in many areas will require the activity and involvement of local authorities. The effects of these activities will be not only financial but also organizational, which will translate into increased spending. Changes in the tax system, especially in the personal income tax, will considerably affect revenues from PIT shares, which will disturb the stability of territorial self-government units’ financial system. Therefore, it is necessary that the government and self-government representatives jointly work out solutions, which will guarantee the compensation of losses for the self-governments in a long-term, and a stable way to restore the principle of adequacy.

Employee Performance Measurements at ‘Aisyiyah Klaten Hospital using the Human Resources Scorecard approach

Background: The rapid development of health services is a challenge for hospitals in facing the increasingly open and accessible competition. Good human resource management is needed to increase the productivity of an organization. One of the strategies to increase productivity and improve human resource management is to use an integrated and comprehensive employee performance measurement. This research measured employee performance using the Human Resources Scorecard (HRSC) approach based on several conditions. HRSC is a Balanced Scorecard with a Human Resources (HR) approach where Key Performance Indicators (KPI) are based on 4 (four) perspectives: Financial Perspective, Customer Perspective, Internal Business Process Perspective, and Learning and Growth Perspective. Method: This study used a quantitative approach with a cross-sectional survey research design. Data collection methods included questionnaires, document review, and Consensus Decision Making Group (CDMG). The research population was 256 employees of the ‘Aisyiyah Hospital Klaten. Samples were determined using non-probability sampling technique with a purposive sampling method of 100 respondents. Results: The results showed that overall employee performance was good, with a score of 4.03. Based on Key Performance Indicators for each perspective, the internal business process perspective of employee performance was very good, with a score of 1.24. The financial perspective of employee performance was good with a score of 0.8, while the customer perspective of employee performance was good, with a score of 1.19. Finally, the learning and growth perspective of employee performance was good, with a score of 0.8. Conclusion: With the HRSC approach, the overall performance results of the ‘Aisyiyah Klaten Hospital employees were good.

Measurement Of Company Performance With Approach Balanced Score Study Case: Regional Drinking Water Company

Performance is a process carried out in achieving a result for each company or organization in the stage of providing services or products to customers within a certain period of time in accordance with their duties and functions. This study aims to conduct and see the overall organizational picture of the performance assessment of the Regional Water Company (PDAM) of Sungai Penuh Jambi City using the Balanced Score Card approach. viewed from four perspectives, namely: financial perspective, customer perspective, internal business perspective, and learning and growth perspective. From the results of the research on the Performance Measurement of Regional Drinking Water Companies (PDAM) of Sungai Penuh Jambi City using the Balanced Scorecard approach from a financial perspective through the current ratio, profit margin, operation ratio, return on investment, it shows that the company's financial performance is in good condition despite a decline in sales in 2019 For performance measurement based on customer perspective from customer acquisition, customer retention, customer satisfaction, customer satisfaction can be said to be good, although customer satisfaction that the Regional Drinking Water Company (PDAM) of Sungai Penuh Jambi City in 2020 can be said to be not good. Furthermore, the correlation/correlation of performance based on the perspective of internal business processes on the motivation variable, power alignment, has an influence level of 50.9% with a significance level of <5% or 0%, but for training it has a significance level. below 5% or equal to 0%. The performance based on the learning and growth perspective on employee satisfaction, employee retention, productivity, contributes positively to the company's economic improvement.