Adverse Economic Conditions Research Articles

MANAGEMENT OF THE FINANCIAL STABILITY OF JSC CB "PRYVATBANK" IN THE CONDITIONS OF THE MARITAL STATE

Purpose. The purpose of the article is to analyse the level of financial stability of JSC CB "PryvatBank" and to single out the main areas of increasing the effectiveness of the bank's financial stability management. Methodology of research. The theoretical and methodological base of the article consists of fundamental provisions of modern science and general theories of development. A set of generally accepted methods and techniques of comprehensive research were applied in the research process in order to achieve the set goal: induction and deduction at the stage of collecting the necessary information, systematization and its processing, analysis and comparison to characterize the scientific and methodological approaches to determining the economic essence of the concept of "financial stability of the bank", tabular and graphic ‒ to visualize the results of the study, factor analysis to characterize the main aspects of managing the financial stability of JSC CB "PryvatBank", vertical and horizontal analysis to assess and determine the level of efficiency of financial stability management of JSC CB "PryvatBank" during 2019-2022, the ratio analysis served as the basis for calculating reliability coefficients and main profitability indicators of JSC CB "PryvatBank". A systematic method was used to substantiate the proposals for strategies and measures to ensure financial stability in the conditions of martial law. The method of logical generalization was used to form theoretical conclusions. The information base of the research was served by normative legal acts, periodicals, scientific works of domestic and foreign scientists, statistical analytical data and web sources. Findings. Scientific and methodical approaches to the definition of the economic essence of the concept of "financial stability of the bank" were considered, which made it possible to form a definition that most fully characterizes this economic concept. The essence of the concept of managing the bank's financial stability is determined. The main aspects of managing the financial stability of JSC CB "PryvatBank" are characterized. An assessment was made and the level of financial stability management efficiency of JSC KB "PryvatBank" was determined during 2019-2022. Reliability coefficients and main profitability indicators of the analysed bank were calculated. An overview of the strategies and measures that a bank can take to ensure financial stability under martial law is given. Appropriate conclusions were outlined. Originality.The theoretical principles of assessing the financial stability of JSC CB "PrivatBank" were deepened and recommendations were developed to increase the efficiency of its management in modern conditions of martial law. Practical value. The conclusions and proposals formed based on the results of the conducted research can be used in the formation of the financial stability management strategy of JSC CB "PryvatBank". The implementation of the developed proposals will enable the bank to minimize risks and maintain financial stability in adverse economic and political conditions, such as martial law, as well as to remain a leading bank in the banking services market. Key words: bank, financial stability, management of financial stability, cost-effectiveness, reliability, profitability, liquidity, regulations, ratio, financial condition.

Глобал IPO бозори: ривожланиш тенденциялари ва халқаро тажриба

Today, companies are showing great interest in IPOs as an alternative to raising capital for expansion. This article discusses the stages of evolution of the global IPO market, its current state, and development trends in the IPO market in adverse economic conditions caused by the global financial and economic crisis and the COVID-19 pandemic. The article also reveals the essence of SPACs, which are increasingly becoming a trend in the IPO market.

Исследование трансформации архитектуры предприятий малого и среднего бизнеса в условиях кризиса и санкций

the article is devoted to the issues of digital adaptation of business in a changing market, the study of popular trends, as well as the assessment of the impact of these changes on the success of the company in adverse economic conditions. Discussion: The paper conducts research in the field of architecture transformation of small and medium-sized businesses. After conducting the study on the example of a real enterprise LLC «Sociocyberengineering», a trend towards digitalization of business processes by companies was revealed. The relevance of digitalization, as well as popular trends identified during the review of a typical enterprise were confirmed by data from open sources. Results: The authors considered the problem of business adaptation to changes in market realities, which is popular in the current economic conditions. An affordable way to solve the problem was identified, which consists in conducting a phased digitalization at the system level of the architecture.

Protection of consumer rights in the advertising of the future in the context of economic instability

The purpose of the study is to analyze the factors that affect the economic systems of the world in the aspect of consumer rights protection. The result of the study was the substantiation of the proposition that in order to maintain the competitiveness of the market under adverse economic conditions, the following conditions must be ensured for it: the presence of many producers and well-informed buyers. The Internet search tool offered 51 scientific publications, among which 21 scientific articles should be singled out, 18 of them cover the field of scientific interest of social sciences, related to research on the protection of consumer rights in the field of electronic commerce. A scientific article was analyzed, the subject of which was the study of ethical aspects of electronic commerce, the development of a certain generalized model of the behavior of its consumers based on the conducted research. The analysis of scientific works related to the study of the protection of intellectual property rights, patent rights of third parties, their responsibility in the event of offenses in the implementation of electronic commerce and advertising activities on the Internet became important for the research. In the analyzed scientific publications on the problems of the functioning of advertising activity under conditions of economic instability, the importance of adaptation of manufacturers of goods, works, and services, their marketing strategies to new conditions is emphasized. For example, it was noted that the hotel sector of the economy, which is one of the most affected by the negative consequences of the coronavirus disease pandemic during 2020-2021, in the developed countries of Europe, thanks to the effective “green” advertising of its own business, which promoted ecological hotel tourism, was able not only to level the material losses caused by it but also to increase one's own profit.

On identifying risk-adjusted efficiency gains or losses of prospective mergers and acquisitions

We propose a new approach to evaluate and compare ex-ante the risk-adjusted efficiency gains or losses of potential mergers and acquisitions (M &A). We test our methodology in the banking sector by estimating a latent class stochastic frontier model to account for the unobserved heterogeneity. We show that post-prospective M &A financial institutions can be better equipped to withstand potential adverse economic conditions. We highlight that similarities in strategic characteristics are vital in the creation of post-consolidation cost efficiency surplus. Our results are consistent after various robustness tests. Our findings have important policy implications in light of the challenges the traditional banking business model faces in the current digitalisation era.

The perceived social rejection of sexual minorities: Substance use and unprotected sexual intercourse.

This study presents associations between the perceived social rejection of sexual minorities and tobacco, alcohol and cannabis consumption and unprotected sexual intercourse in the capital of Greece, Athens. This is the first Greek study to evaluate the concept of the minority stress theory on sexual minorities' substance use and unprotected sexual intercourse. In addition, this is among the first international studies to examine whether periods of adverse economic conditions are associated with sexual minorities' substance use and unprotected sexual intercourse. Two-panel datasets covering the periods 2013-2014 and 2018-2019 were used to determine the perceived social rejection, that is, whether sexual minorities have been rejected by friends, treated unfairly in educational and/or workplace environments, treated negatively in social situations and received poor health and public services due to their sexuality. The estimates indicate that perceived social rejection is associated with the increased consumption of tobacco (by 9.1%, P < 0.01), alcohol (by 7.1%, P < 0.01) and cannabis (by 12.5%, P < 0.01), as well as unprotected sexual intercourse (by 6.5%, P < 0.01). In the first three cases, the magnitude of the associations is stronger for men than women and there is increased cannabis consumption during periods of deteriorated economic conditions (by 5.5%, P < 0.01). In the European Union, reducing stigma, substance use, risky sexual behaviours and health inequalities for sexual minorities is a goal of public health. If minority stress is correlated with substance use and risky sexual behaviours leading to detrimental physical/mental health outcomes then prevention and support interventions should be designed.

Integrating Accounting and Logistics Strategy in Business Management

The effective business management in adverse economic conditions necessitates the search for ways for integrating business accounting with innovative approaches to business management of material resources, especially the logistics system. &#x0D; The need to integrate business accounting of material assets with the logistics system is substantiated by giving evidence of the complicating conditions for transportation of material assets in recent years, related, inter alia, with quarantine limitations. It is stressed that the requirements to logistics strategies are increasing along with growing transportation costs, diminishing deposits of natural resources, creating new product lines, setting new criteria for social, technological and environmental dimensions of business activities. It argued that when management staff overlook or ignore the potentials offered by logistics tools for management of material resources or when business accounting has no links with logistics, the impact of management on the purchase of material assets will be less effective. &#x0D; Theoretical foundations of the integration of business accounting and logistics strategy of transactions with material assets for the achievement of economic security of business activities are highlighted. The principal dimensions for such integration (organizational, methodological, control and protective) and their key components are discussed. Organizational and technical schemes are proposed, aimed at creating a business accounting system integrated with other management functions (planning, economic analysis, control), in order to enhance the orientation of business enterprise on the effectiveness of logistics activities and achievement of economic security. The main objectives of business accounting with respect to logistics costs are determined for the business enterprises implementing the abovementioned approach to organization of logistics management.

Political violence: why conflicts can result from sub-Saharan African socioeconomic conditions

PurposeThis study investigates the extent to which, and in what ways and capacities, the incidence of adverse economic conditions burdening the masses, on the macro-level, increases the propensity for the generation of political instability/violence.Design/methodology/approachDrawing on data from a cross-section of 25 Sub-Saharan African (SSA) countries for the period 2005–2019, fixed effects (FE) and generalized method of moments (GMM) estimations are used to determine the nature and significance of the independent variable (economic condition), complemented by three control variables, on the dependent WGI-defined variable political stability scored on the basis of a continuum from −2.5 (most unstable) to +2.5 (most stable). For the link between political instability and socioeconomic conditions, the study employs a construct derived from frustration-aggression and relative deprivation theory.FindingsThe study links socioeconomic adversity to political instability in the context of SSA. In addition, larger populated countries exhibit a greater propensity to political instability than smaller populated countries. In contrast, foreign direct investment (FDI) appears to have no real effect, positive or negative, on political stability.Practical implicationsPoor living conditions seem to be strongly associated with a high risk of political violence in SSA. To buoy socioeconomic status, poverty alleviation needs be elevated into a key initiative in the decision-making agenda, at all levels of governance, with real targeted strides achieved in terms of enhancement of the standard of living of the masses. In addition, policies that control population need to be inaugurated hand-in-hand with welfare measures and a more equitable balancing of the distribution of resources in the society.Originality/valueGiven the high regional incidence of civil strife and violence, combined with a dearth of research of an empirical nature on political risk in SSA, this study provides a largely ignored and useful context on SSA apart from studies on the incidence of violence that consider the developing countries as a monolithic whole.

Business Culture, Bank Credit, and Corporations in the Russian Empire: Deconstruction of a Russian Banking History Discourse

This essay deconstructs the discourse on the underdeveloped banking culture in the Russian Empire in the second half of the nineteenth century. This discourse became a specific side effect of adaptation to the theory of world banking, from which the Russian practice was noticeably different, aggravated as it was by a long period of adverse economic conditions in the 1870s and 1880s. At the same time, up‐to‐date studies of nineteenth‐century banking have revealed that the theory was not followed to the letter anywhere in the world at that time and that it was finally rejected as false by the middle of the twentieth century. Nevertheless, the discourse on the underdeveloped Russian banking culture has survived in twentieth century historical studies, and fragments of it emerge in the Russian‐language literature on banking history until now. With the use of archival data, this essay analyzes the actual Russian practice of bank lending to customers in trade, industry, and agriculture. The data show that the trust needed for nineteenth‐century bank lending was concentrated in entrepreneurial communities. Such a system gave preference to large customers, primarily corporate ones, due to their larger size, scale of publicity and wider interlocking with large corporate banks, which made them more creditworthy than small and medium‐sized enterprises. Nevertheless, this restrictive system was able to increase the number of customers significantly at the beginning of the twentieth century.

Theoretical Aspects of Migration and its Impact on Political Processes

The authors of the paper set the goal of examining the theoretical aspects of migration and showing the relationship between the influence of this social phenomenon on the political processes of the state and state policy in general. The authors highlight the main interdisciplinary approaches to the definition of the term “migration” with the aim of concretizing it in political science within the framework of the study. The study also answers the question of the relationship between "policy" and "politics" within a migration policy by comparing "state migration policy" and "migration policy", concerning which there is a different interpretation. The object of research is migration. The subject is migration policy and state migration policy. The topic is relevant because in the early 2000s migration acquired a new global scale under the influence of many heterogeneous factors often caused by adverse economic, social and socio-psychological conditions, as well as military conflicts of an interreligious and ethnopolitical nature. The research uses systemic, comparative, institutional, and ethnopolitical approaches. The systematization of approaches presents the scientific novelty to the definition of migration, as well as by the mutual influence of migration processes and political and administrative decisions.

Tax Farming Revenues and Accounting in Ottoman Finance: The Case of Kocaeli (1846–1847)

Unlike the European nations that shifted from privatized tax collection to a centralized government control system, the Ottoman Empire successfully maintained its tax farming system. Yet, there is ample evidence against the views that such a system was backward and wasteful are not entirely correct, but that the Ottoman tax collection method was successful in its own historical context. Therefore, the aim of this study was to reveal evidence of whether the Ottoman Empire implemented a successful tax farming system in the 19th century based on the accounting records of tax farming revenues considering the Ottoman public finances, institutional infrastructure, and administrative practices in a broader European context. Accordingly, the present study utilized the Prime Minister’s Ottoman Archives, the records of Revenue (Varidat) Accounting Administration, and the tax farming auctions in the Central Council (Majlis-i Val’a). The economic and financial conditions of the period were also considered in the analysis of the data. Evaluation of the tax collected by tax collectors in Kocaeli Province (Sancak) revealed the nature of economic activities in the empire. It can be stated that tax collectors in Kocaeli Province paid the total amount of 395,612 Guruş (Ottoman currency) tax revenue in five installments in 3 months and that the highest tax was collected from the sales of alcoholic beverages. Adet-i Ağnam (the tax collected for sheep and goat breeding) collected from each district was auctioned for tax farming price of 51,610 Guruş. In addition to these taxes, taxes from trade, forestry, maritime, and industrial production were included in the tax farming revenues. Overall, considering the adverse political and economic conditions in the historical process, the Ottoman Empire’s tax farming system was successful in collecting taxes and was a part of the formation of the modern Ottoman public finance system.

Show me how to grow fast in turbulent times: Balancing human resource practices between employee training and educational attainment

AbstractThis paper explores whether there is a balance or a trade‐off with respect to human resource (HR) practices that high‐growth firms (HGFs) are likely to use in adverse economic conditions. Drawing on the human capital theory, two major HR practices related to the educational level of employees and the use of formal employee training are examined as critical components of a cost‐efficient strategy, pursued by small and large HGFs in times of crisis. To this end, the empirical analysis uses data derived from an extensive two‐wave survey on 1500 Greek manufacturing and services firms at the peak of the Greek economic crisis. The results reveal two different patterns in the HR management: HGFs of larger size tend to employ persons with lower educational attainment and subsequently invest in formal training to increase their skills. On the contrary, smaller HGFs prefer to hire employees with specialized knowledge acquired from advanced formal education and avoid the provision of subsequent training. The study contributes to the literature by highlighting the way large and small HGFs manage the human capital embedded in their employees to outperform in crisis‐hit economies.

Quadruple wavelet coherence and pairwise cointegration: comparative time-frequency analysis of bank deposit rate

PurposeThis study aims to attempt to understand the joint co-movement of bank deposit rate and its main underlying determinants (foreign exchange rate (FX) rate, cross-currency swap rate and implied forward rate). The authors also compare time and frequency variant approaches in this dynamic.Design/methodology/approachThe authors examine bank deposit rates where multiple variables jointly interact, and the integration is time and frequency variant. The study applies both cointegration and wavelet coherence methods and conducts a comparative analysis. It investigates eight markets over 2005–2020 aiming to capture the impact of changing market conditions and degree of development.FindingsThe results are in line with cross-country interdependence, where we observe more robust evidence for co-movement during adverse economic conditions with higher correlation compared to other periods such as the 2007–2009 US mortgage crises, 2010–2012 Euro crises and 2019 pandemic. Moreover, wavelet analysis suggests deposit rate lags FX rate and leads cross-country swap rate. The USA arguably leads the co-movement accompanied briefly by Japan and followed closely by other developed markets and later the developing markets. Heat maps suggest clustering of countries.Practical implicationsThe wavelet coherence's ability to indicate the periods and the frequencies of the relationship is essential to capture the true nature of the relationship. Such additional insight would enable the practitioners to determine the true price of the deposit rate.Originality/valueThe study captures the long suggested collective nature of three main underlying determinants of bank deposit. The results shed light on the order of dynamics in a complex bank deposit environment. Comparative analysis further highlights the valuable insight quadruple wavelet coherence provides.

Entrepreneurship, gender and success in Lebanon

PurposeThe aim of this paper is to explore how men entrepreneurs construe their success and the influence of the socio-cultural context and political and economic turbulence on their construals of success in the context of the Arab country of Lebanon.Design/methodology/approachTo achieve the objective, the author draw on intersectionality theory and capitalise on twenty in-depth, semi-structured interviews with men entrepreneurs.FindingsThe findings reveal how construals of success by men entrepreneurs occur at the nexus between patriarchy, gendered expectations and adverse economic and political conditions. As a result, success is construed through the perseverance and legitimacy of their business and their compliance with expected family roles. These construals unfold as the men hold themselves accountable for and do gender and success per the ideal expectations indoctrinated by patriarchy.Originality/valueThe originality of this study lies in its theoretical contributions. First, it is the first study to explore the construals of success by men entrepreneurs in an Arab Middle Eastern country. Second, it contributes to a growing body of work that explores gender as a situated practice and demonstrates how it is performed by men entrepreneurs while construing their success. Third, it contributes to research on intersectionality in entrepreneurship and sheds light on the interconnections of gender, patriarchal socio-cultural values, economic and political conditions and entrepreneurship in Arab countries.

Prospective, randomized clinical trial of laparoscopic totally extraperitoneal inguinal hernia repair using conventional versus custom-made (mosquito) mesh performed in Cameroon: a short-term outcomes.

Adverse economic conditions often prevent the widespread implementation of modern surgical techniques in third world countries such as in Sub-Sahara Africa. To demonstrate that a modern technique (laparoscopic totally extraperitoneal inguinal hernioplasty [TEP]) can safely be performed at significantly lower cost using inexpensive mesh material. Douala University Hospital Gynecology, Obstetrics and Pediatrics and two affiliated centers, Ayos Regional Hospital and Edéa Regional Hospital in Cameroon. Prospective randomized controlled trial (RCT) of consecutive adult patients presenting with primary inguinal hernia treated by TEP, comparing implantation of sterilized mosquito mesh (MM) with conventional polypropylene mesh (CM). Primary endpoints were peroperative, early and midterm postoperative complications and hernia recurrence at 30months. Sixty-two patients (48 males) were randomized to MM (n = 32) or CM (n = 30). Groups were similar in age distribution and occupational features. Peroperative and early outcomes differed in terms of conversion rate (2/32 MM) due to external (electrical power supply) factors and mesh removal for early obstruction (1/30 CM). No outcome differences, including no recurrences, were noted after a median follow-up of 21months. In this RCT with medium-term follow-up, TEP performed with MM appears not inferior to CM.

Financial Liberalization Policies and Sustainable Economic Development In Arab Countries

Financial liberalization has attracted increasing attention from the Arab region in recent decades. It plays a critical role in the financial sector in promoting balanced and sustainable economic growth, the experiences of macro and structural reforms have shown. The ability of the economy to overcome adverse economic conditions is primarily related to the size of reforms and policies of financial liberalization due to the financial sector's contribution in raising the efficiency of the economy and achieving Stability. Macro-reforms that include reform and stability of prices, reform of public finances and exchange and trade systems, and the restructuring of economic activities involve the basis for capital resources and the re-direction of new savings and investment flows. In addition, various markets, institutions, and channel tools are optimized to mobilize local savings and mobilize them in the form of credits and investment instruments. Then, direct them towards the sectors and for the most efficient and profitable economic activities. Furthermore, the governments work to attract foreign investment and attract it to provide additional financing resources that contribute to the coverage of local development. The liberalization might take varied forms for groupings of small and big businesses. The intended result is that the government should pursue a long-term policy plan that promotes companies' sustainability, including high- and low-income firms. Additionally, it is envisaged that businesses would place a greater emphasis on innovation, significantly boosting the quality of human resources to gain a competitive edge in the face of global competition.

Cyclicality of bank credit growth: Conventional vs Islamic banks in the GCC

Using a panel of 104 banks from the six Gulf Council Countries, we investigate the cyclicality of credit growth with regard to the discrepancies between Islamic banks and conventional banks. We found that Islamic banks are pro-cyclical and have higher credit growth compared to conventional banks. Indeed, the Profit and Loss Sharing (PLS) mechanism helps Islamic banks not to curb their credit growth during adverse economic conditions. We tested the role of the growth rate of market sentiment and found that positive market sentiment leads to higher bank credit growth. Furthermore, we investigate the impact of several bank-specific variables on bank credit growth and discuss to what extent diversification and the investment portfolio reshape the credit growth process.

استراتژی های بقا در شرایط فقر در میان افراد کم برخوردار شهر مشهد

Poor people are struggling to survive on a daily basis in the face of adverse economic conditions. The present study has been done with regard to few researches in the field of survival strategies of low-income people in Iran and with the aim of paying attention to the lived experience of these people. In this research, behavioral / decision theory, human capital theory, assets and financial / income risk theory, and risk avoidance theory have been used to increase theoretical sensitivity. The method of the present study is qualitative, the technique of data collection is interview and the technique of data analysis is thematic analysis (according to Brown and Clark framework). Findings from 22 interviews among the poor people in Mashhad show the survival strategies used, including supportive strategies (informal and formal), job (employment, self-employment), education and skills acquisition (education, skills training), criminal activities (theft, prostitution) and cost reduction (reduction of food consumption, purchase of clothing and health).

Graduating During the Great Recession: The Effects of Student Loan Debt on Early Career Labor Market Outcomes and Graduate School Enrollment

: Total U.S. student loan debt has grown substantially, raising concerns about its impacts. Previous work has suggested that indebted graduates pursue higher-wage careers. However, other trade-offs are possible in adverse economic conditions. Graduates may reduce search effort or hold multiple low-wage jobs to enable debt repayment. This article assesses student debt’s impacts on the outcomes of U.S. bachelor’s degree recipients entering the labor market during the 2008 Recession. We find that indebted students graduating into a recession face the repayment burden with wages that are no higher than average and are less or no more likely to enroll in graduate school.

Epidemiology of Tuberculosis in a Cohort of Children in the Colombian Pacific Coast 2009- 2013

Introduction: The diagnosis of pulmonary tuberculosis in children is a challenge in all tuberculosis programs. The adverse social and economic conditions of the Colombian Pacific Coast make it a complex area for the management of the disease, especially in children.&#x0D; Objective: To describe the demographic and clinical characteristics, and the outcomes in the pediatric population with pulmonary tuberculosis in Buenaventura, Colombia. Methods: We conducted a descriptive observational study of a historical cohort (2009-2013) of children enrolled in the tuberculosis control program of Buenaventura.&#x0D; Results: A total of 163 cases were found and analyzed. There was no significant difference in sex distribution. The most frequent age group was 1-5 years (51%) and 55% belonged to the subsidized health system. The clinical TB diagnosis prevailed (55%), while the laboratory diagnosis was significant in patients older than 7 years. 92% entered the program as new cases, and 40% had their treatment finished at discharge. Adherence to treatment compliance was less than 50% in both phases of treatment. The incidence of childhood pulmonary tuberculosis during the study period ranged between 2 and 4 x 100,000 inhabitants. There were inconsistences in the information between the Tuberculosis program of the Municipality and the National Surveillance System of Colombia.&#x0D; Conclusion: The social and political difficulties in depressed areas of Buenaventura, a remote town in the Pacific Coast of Colombia, have a negative impact on the control of TB, despite strategies of childhood pulmonary tuberculosis based on timely diagnosis and treatment; effective follow-up of cases; study of contacts; and efficient, timely notification.