Corporate Sector Research Articles

Government Debt of Russia and the United States in the XXI century

This article has three parts. In the first part government debt is analyzed as the stock of government financial obligations in Russia and the USA. Obligations denominated in foreign currencies and direct credits are left behind because they are practically non-existent in US government financial transactions. Also excluded from the analysis are debts incurred by stateowned corporations, which are part of the corporate sector of the System of National Accounts. In the second part government debt is analyzed as a result of financial flows (borrowings) which show how debt changes over time. In both parts Russia is compared with the USA in terms of proportions between federal and sub-federal debts, domestic and foreign debts (Russia only), marketable and non-marketable debts as well as domestic and foreign participants of government securities markets. The third part of the article presents standard methodology of debt sustainability analysis and some results of Bohn test of debt sustainability for both countries.

Work Related Rest-An Employer’s Favour or Employee’s Right? A Perspective of Ghana’s Legal Regime

Work related rest is highly ignored by employers especially in Ghana’s private corporate sector. In a highly competitive job market and scarce job opportunities, employers tend to perceive jobs as favour being made to employees. This perception tends to influence employers to deprive employees of their necessary work-related rest breaks rightfully due them. Such actions by these employers in most cases seem uncontested by employees since they are not privy to their rights to work related rest or tend to apprehend fear that they might lose their jobs in a bid to agitate for their legal rights to rest breaks. Alternatively, an employer may not restrict an employee’s right to rest breaks but rather, employees may tend to ignore their rights to rest especially in the form of annual leave for want of excessive financial gain. This paper highlights provisions on work related rest from Ghana’s Labour Act,2003 (ACT 651) which is a domestic law drawn from the International Labour Organization. The manuscript advances practicality of the sections on rest breaks highlighted by the Labour Act of Ghana by introducing both Ghanaian and Common law cases on rights and obligations of employers and employees in relation to rest breaks in Ghana.

Social Policy and SCR Tools for Managing the Sustainable Development of Enterprises in the Corporate Sector

The research focuses on analyzing and reviewing of corporate social responsibility and social policy. The authors studied the works of domestic and foreign authors who were engaged in the analysis of these problems. The authors identified the factors that influence social policy, such as: political, demographic, medical, social, and others and categorized the typical descriptions of social policy research in the public and private sector. Special attention is paid to the authors’ interpretation of the concept of social and political involvement of the corporation. The authors determined the basic principles of development and implementation of social policy in accordance

A liquidity preference approach to nonfinancial corporate liquid asset holdings

This paper examines the long-run pattern of the U.S. nonfinancial corporate sector’s liquid financial asset holdings in the period from 1951 to 2018. My approach to examining this pattern builds from the banks’ liquidity preference theory put forward in Keynes’ 1937 papers, as well as Minsky’s 1957 paper discussing the role of financial innovation in the banks’ management of liquidity preference. I argue that financial intermediaries affect nonfinancial corporations’ liquid asset holdings through two primary money creation channels: (1) banks’ commercial and industrial loans advanced to nonfinancial corporations and (2) the liquidity premium of financial intermediaries, which can be measured by the interest rate spread in the intermediaries’ liabilities markets. Through theoretical and empirical exercises, I find that these two endogenous liquidity creation channels have been the important factors accounting for liquid asset accumulation by the nonfinancial corporate sector. Overall, my results suggest that financial innovations, structural changes of the U.S. financial system, and financial intermediaries’ liquidity premium could contribute to our understanding of the shift in nonfinancial corporations’ asset portfolio composition in favor of liquid financial assets.

From Green Vision to Market Reality: Exploring Sustainable Initiatives and Challenges in India

In the era of globalization and heightened environmental awareness, the relevance of green marketing has surged in India. This exploratory study investigates the evolution and significance of green marketing, shedding light on its golden rules and integration into the marketing mix. Emphasizing the imperative for sustainable green marketing, the study explores its objectives and delves into challenges faced by Indian companies. Recent data underscores the profitability of green marketing, propelled by consumer demand. A scrutiny of the Indian corporate sector reveals noteworthy green initiatives by key players such as H.C.L., O.N.G.C., Kansai Nerolac, Wipro, I.T.C., Tata, and Godrej. Challenges encountered include conveying new environmental concepts, managing costs, and gaining stakeholder cooperation. The study advocates aligning marketing practices with environmental considerations for holistic, eco-friendly approaches fostering sustainable growth in both business and the environment.

THE IMPACT OF COMPANY TRANSPARENCY ON THE PERFORMANCE OF PUBLIC LISTED COMPANIES IN MALAYSIA

Transparency is crucial for financial, corporate social responsibility, and corporate governance, fostering company performance and sustainability. The study examines transparency's effect on firm performance, offering insights on how transparent reporting methods can improve financial performance. It's pertinent to Malaysia's corporate sector, especially PLCs, clarifying the significance of transparency in enhancing stakeholder confidence, trust, and financial performance. The study benefits officials, regulators, and investors advancing sustainable development in Malaysia by informing policies and regulations promoting transparent reporting practices in Malaysian PLCs. The study's contribution to knowledge, applicability, and potential influence on investment and policy choices enhance its significance.

Sustainability Leadership in Saudi Non-profit Organizations: A Qualitative Insight Governance

Leadership in Saudi Arabia is one of the major objectives of Vision 2030, which is aimed at developing the country’s private, public and nonprofit organizations (NPOs). Leadership therefore needs to incorporate key issues that are emerging in the context of preparing necessary skills to lead such organizations in the future. This research provides qualitative insights into leadership practice by measuring the impacts on achieving sustainability leadership by gaining a full understanding of the processes nonprofit sector leaders use to encourage sustainability and change in their organizations. Encouraging sustainability requires specific competencies, and strong leadership is critical to the process of ensuring that governance becomes sustainable. In this study a qualitative methodology was designed, and fifteen Executive directors CEOs from NPOs took part in semi-structured interviews as well as one focus group containing six professionals from non-profit corporate sectors including education, health, environmental clubs, foundations and human resources. Thematic analysis was applied to analyse critical elements that governed individuals’ ability to contribute to institutional results. The findings demonstrated eight areas of results-based functions and activities of sustainable nonprofit leadership to identify insights into leadership. These are governance arrangements, leadership as a dynamic role, teamwork empowerment, strategy and procedure processes, control and governance resources, collaboration and network relationships, encouraging social investment, and social value results. The findings suggest that leaders of various NPOs have to overcome external and internal challenges effectively in order to succeed in their mission focusing on financial and social purposes. Exploring the nature of sustainability leadership competencies in Saudi NPOs will result in learning, innovation and change in terms of outcomes by helping leaders to add social value as a core factor of their mission.

Literary Condemnation of the Slave Trade and Wealth as the Cause of Corruption Represented in the Light of English Literature

This article has illustrated how, within the framework of English literature, the slave trade and money are both literarily condemned as the root causes of corruption. When the slave trade was prohibited in the British Empire in 1807, the idea of equating labourers with slaves was highly controversial. That had happened very swiftly after a campaign that had only really begun 20 years before. Both slavery and the trade in Africans have already been condemned on occasion and in literature. The social objective of imitating the great landed nobility was examined and criticised by Adam Smith. The literature of the eighteenth century was also afflicted by the contradiction between the social and moral hierarchy. It is significantly more focused on the landed classes than the corporate sector, even though it is sometimes considered a bourgeois art form. Contrary to popular belief, writers of the late eighteenth century did not promote bourgeois principles in opposition to those of the aristocracy. Conversely, in the last decades of the century, they favoured a rural way of life and resisted urbanisation. They tended to side with the underclass against their new rulers, the industrial bourgeoisie, in the class struggle that industrialization sparked.

Empowering Women Leadership for Economic Development & Sustainable Growth -The Role of Women Directors

Through their leadership in corporate boardrooms, women directors play a critical role in promoting sustainable growth and driving economic development. This research explores this relationship. With the growing recognition of the value of gender diversity in society, identify and characterize the distinct contributions made by female directors to Corporate Governance, organizational performance, and overall economic growth. It explores the various ways that women directors influence decision-making processes and add to strategic initiatives. The research highlights the importance of varied viewpoints in augmenting inventiveness, efficacy, and durability in establishments. The report also explores the dynamics of empowerment related to women taking on leadership positions on corporate boards. It looks at the obstacles women must overcome to become directors, evaluates the methods used to get beyond those obstacles, and evaluates the empowerment that results for both the person and the larger community. The analysis highlights the influential function of strong female directors as advocates for gender equality and as agents of good change. The study also looks into how initiatives and policies may support gender diversity in boardrooms and offers insights into the organizational and structural aspects that contribute to fostering an inclusive environment that supports women’s leadership through the analysis of effective practices and case studies. This paper attempts to highlight corporate governance changes, leadership development programs, and mentorship programs that help women advancement to positions of directors and key managerial persons in corporate sector.

Growing demand for environmental science expertise in the corporate sector

Growing demand for environmental science expertise in the corporate sector

A koronavírus-válság strukturális és területi hatásai a magyarországi vállalati szektor sérülékenységére = The Structural and Territorial Impact of the Coronavirus Crisis on the Vulnerability of the Hungarian Corporate Sector

Corporate resilience is a frequently explored topic in the social science discourse on space. This study investigates the repercussions of the economic crisis induced by the coronavirus epidemic on the Hungarian corporate sector. It assesses corporate vulnerability through profitability and indebtedness dimensions, utilizing financial statements and credit data from 2019 and 2020. Initial scrutiny by sector and size reveals vulnerable company segments, followed by a territorial analysis to identify crisis-affected actors. Findings indicate that accommodation and food service, construction, administrative and support service activities, education, art, entertainment, and recreation economic branches, as well as smaller enterprises, were most impacted. Moreover, no distinct spatial pattern emerges; distribution is more influenced by sectoral and sizebased factors.

ORGANIZATIONAL AND ECONOMIC PRINCIPLES OF INNOVATIVE DEVELOPMENT OF SEED PRODUCTION

Purpose. The purpose of the article is to propose recommendations for the formation of models of innovative development of the seed industry based on the generalization of the research of scientists and the practical experience of the functioning of subjects of the seed industry. Methodology of research. The theoretical and methodological basis of the research is the dialectical method of cognition, a systematic approach to the study of economic phenomena, scientific developments of domestic and foreign scientists on issues of seed production, in particular. The following methods were used in the research process: abstract and logical - for the purpose of forming assumptions, hypotheses, as well as conclusions and generalizations; analysis and synthesis - when assessing the state of the seed industry and substantiating proposals for its improvement and ensuring full-fledged development in the future. Findings. On the basis of the conducted research, it was established that the current situation in the field of seed production is characterized by a violation of partnership relationships "science – seed companies – agricultural enterprises", does not provide a full understanding of the directions of its development, therefore, not only the in-depth study of the processes taking place, but also the improvement of the organizational and legal foundations of the formation and operation of the breeding and seed complex are substantiated. Originality. On the basis of the results, recommendations are proposed for the formation of development models of the seed industry, which can be presented as various organizational and legal forms of management and unite scientific institutions, agricultural enterprises and seed companies. Further development of the mentioned models can be carried out in the direction of creating an open agricultural and production (trade) business incubator. Practical value. The practical application of the recommendations will contribute to the formation of regional clusters in the field of seed production, which will ensure the formation of economic incentives for domestic scientists who are engaged in the breeding of new varieties of agricultural crops and their practical use in the technological process of farms of the corporate sector of the agrarian economy. Key words: system, seed production, innovation, development, selection, agricultural crops.

Study of performance indicators and prospects for the development of IP telephony systems

The purpose of the work is to study performance indicators and prospects for the development of IP telephony systems. IP-telephony is a special field of telephone communication that integrates methods and means of digital signal processing, transmission of speech, data, video information and multimedia, management of computing resources based on high technologies. IP telephony systems are in demand and widely used, especially in the corporate sector. In this work, a meaningful study of the principles of functioning of modern IP telephony systems is carried out. It was shown that it is very important to continuously monitor the effectiveness of the functioning of these systems. A systematization of indicators that affect the integrated assessment of the effectiveness of IP telephony systems was carried out. At the same time, the quality of the user experience comes to the fore, which is currently of primary importance for a full assessment of the effectiveness of any modern telecommunications system, the main goal of which is to ensure user satisfaction. In addition, the article also analyzes the prospects for the development of IP telephony systems. In particular, market growth forecasts are demonstrated and directions for further improvements of IP telephony systems are outlined.

THE IMPACT OF THE BANKING SYSTEM LIQUIDITY ON THE VOLUME OF LENDING AND INVESTMENT IN GOVERNMENT SECURITIES DURING THE WAR

In the context of escalating military and political uncertainties, a crucial component of banking system stability is the establishment of an adequate level of resource provision – liquidity. The research aims to analyze the transmission impact of the banking system's liquidity and its structure on the volumes of financing for the real sector of the economy in the second year of the war in Ukraine. In the conditions of war and the corresponding intensification of military-political threats and uncertainties, the regulator has made numerous complex decisions and restrictions aimed at balancing the challenges with the current situation in financial markets.The research found that the banking sector of Ukraine currently accumulates a significant amount of excess liquidity and demonstrates high profitability. However, in the conditions of war, the transmission mechanism works improperly, requiring constant intervention from the regulator to balance the liquidity of the banking sector and state finances, which, in turn, affects the behavior of commercial banks and changes the structure of their asset portfolios. An analysis of the structure of active operations portfolios of the banking, corporate, and private sectors provides grounds to assert that there is no reason to expect a change in investment behavior from these groups in the perspective of the next year due to the specificity of the conditions imposed by the Ministry of Finance and the regulator. To maintain macroeconomic stability in the national economy in the conditions of martial law it is necessary to introduce conditions to reduce demand for foreign currency and, as an alternative, offer the preservation of savings solvency through simplifying access to investments in government securities for households. The low financial literacy of the population and the underdeveloped stock market in Ukraine, as well as the more complex mechanism of purchasing government bonds or military bonds compared to deposit services, make such investments by the population insignificant and limited in demand.

Reviewing big data's role in the digital economy: USA and Africa focus

In the dynamic landscape of the digital economy, the integration and utilization of Big Data have emerged as pivotal factors influencing economic growth and innovation. This paper undertakes a comprehensive review of the contrasting roles that Big Data plays in shaping the digital economies of the United States and Africa. By examining the unique socio-economic contexts and infrastructural landscapes of these regions, the study seeks to shed light on the divergent trajectories of Big Data adoption and its impact on economic development. In the context of the United States, where a mature digital infrastructure prevails, Big Data has become a linchpin for innovation, competitiveness, and economic resilience. The paper delves into specific industries, such as technology, finance, and healthcare, to elucidate how Big Data analytics is leveraged to drive efficiency, inform decision-making, and foster disruptive advancements. The study extends beyond the corporate sector to explore the implications of Big Data on policy formulation and governance. Conversely, the study shifts its focus to Africa, a region characterized by diverse economic landscapes and varying degrees of technological development. The analysis explores the challenges and opportunities posed by Big Data adoption in Africa, highlighting the potential for leapfrogging traditional development stages through strategic data-driven initiatives. Additionally, the paper addresses issues related to data privacy, security, and the need for collaborative efforts to bridge the digital divide. Ultimately, this comparative review aims to contribute to a nuanced understanding of the role of Big Data in shaping the digital economies of the USA and Africa. By delineating the divergent trajectories, challenges, and opportunities, the study provides a foundation for informed policy recommendations, fostering inclusive and sustainable economic development in the digital age.

Education As A Keystone Of Corporate Social Responsibility In The Corporate Sector: Challenges And Path For Development

Education As A Keystone Of Corporate Social Responsibility In The Corporate Sector: Challenges And Path For Development

Main Predictor(s) of Good Corporate Governance in National Government Departments: A Decision-tree Classification and Prediction Analyses

Purpose: Good public sector corporate governance leads to good management, stewardship of public wealth, public engagement, and ultimately, better outcomes for citizens. As South Africa has one of the worst Gini coefficients in the world, its public sector should effectively address the challenges of inequality, poverty, and unemployment. Yet, almost 30% of national and provincial government departments obtain unfavourable audit outcomes. Methodology: Supporting the drive for clean audit outcomes that equate to good corporate governance, the research objective was to determine the predictors of national government departments’ corporate governance success. The study used CHAID (chi-squared automatic interaction detection) analyses, a decision-tree technique based on information reported over a 13-year period. Findings: The CHAID analyses indicated that national government departments’ corporate governance success is primarily explained by three factors, namely: a quality internal audit function (main predictor), the number of fraud incidents, and the number of internal control weaknesses. Implication: Even though all the variables in this study receive attention in literature and regulation, the problem of unfavourable audit outcomes persists. The question is where to focus on resolving the problem. Regulators may take note of where to focus their efforts in strengthening elements of good corporate governance.

Transnational business in conditions of geoeconomic fragmentation

The formation of a polycentric system of international relations leads to geoeconomic fragmentation of international trade. Interstate contradictions create specific risks for multinational companies (MNCs). As a result of the emergence of a “new” world order, transnational corporations face risks of disruption of global supply chains, strengthening of protectionist policies, introduction of inconsistent standards that are incompatible with each other and dissemination of non-market restrictions in the field of investment, technology and access to foreign markets. The impact of modern international contradictions on the strategic approaches of MNCs is analyzed. General aspects of the fragmentation in the world economy and its likely limits are examined. International economic challenges for business are studied, as well as political and reputational risks (based on the example of the Russian Federation). It is concluded that the corporate sector has to take certain political positions due to interstate conflicts. Consequently, a new non-economic factor influencing transnational companies’ strategic management is identified.

Comparative Analysis of Sustainable Banking in Public and Private Sector Banks in Sri Lanka

Sustainable banking is still an emerging concept in the world. While different World Bank organizations interpret sustainable banking differently using different dimensions, it will contribute for the sustainability and longevity of the earth by reducing the indirect negative impacts of the banking sector generated through customer activities. In Sri Lanka, attention on sustainable banking is still emerging. Thus, the objectives of this study are to analyze the strategies used in sustainable banking worldwide, to compare sustainable practices of selected public and private sector banks in Sri Lanka, to determine the advantages of sustainable banking practices to Sri Lankan banks and customers, to determine the customer perception on sustainable banking in Sri Lanka and to provide recommendations for future development of sustainable banking concept in the country. This study was commenced from June 2021 until May 2022. World-recognized standards related to sustainable banking were reviewed and a comparative analysis in the public and private banks operating in Sri Lanka was carried out using the primary data collected by interviews with sustainability officers of banks and secondary data collected from the annual reports of banks. Questionnaire surveys were conducted among 302 retail customers and 82 corporate sector customers. Information was gathered on customer perception on sustainable banking and the benefits of sustainable banking on banks and customers through these studies. The results revealed that out of 2 public sector banks and 11 private sector banks in Sri Lanka, 9 private sector banks and 2 public sector banks showed a satisfactory level of implementation. Questionnaire surveys of customers have shown that there is low customer perception towards the concept. The awareness of the concept among retail customers and corporate customers on sustainable banking is 32.12% and 9.8% respectively. 92.1% of retail customers have responded that there are benefits from sustainable banking for customers, while 78% of corporate customers have responded that there are benefits for them through sustainable banking initiatives. As per the findings, banks could gain benefits such as a good corporate image, enhanced reputation, business growth, moving towards new eras of financing, cost reduction, managing risk using the thorough process in risk management and awards. As Sri Lanka is slowly implementing sustainable banking practices it is recommended to have a regulatory approach. Under this regulatory approach, the banks will have action plans within a specific time period to develop and implement sustainable banking practices more effectively. The requirement of a rating system/ assessing tool is highlighted in this study's recommendations and this would direct Sri Lankan banking sector for better future developments in sustainable banking. 
 Keywords: Green banking, Environmental sustainability, Triple bottom line, Customer satisfaction, Commercial banks

Mergers and Acquisitions in the Corporate Sector of the Russian Pipe Industry

The relevance of this study is determined by the significance of mergers and acquisitions as modern tools for expanded diversified growth, direct investment, production synergy, and overcoming the increasing risks of companies’ external environment. The work clarifies the content of mergers and acquisitions from the perspective of reorganization and business development, dominant and partial shareholder control. The high concentration of the Russian pipe industry is emphasized, which is due to the historical territorial concentration of key enterprises in the industry and modern trends of consolidation and movement towards a large-scale oligopoly in the domestic market. The mergers are based on signs of both vertical and horizontal integration, with a focus on creating a model of business units, each of which represents an enlarged production complex. The key driving force is recognized as the growing domestic demand for pipe products from enterprises in the oil and gas sector and municipal infrastructure in the context of the priorities of the national development strategy and the active state policy of project financing. A consistent combination of tight integration tools with technological cooperation programs with strategic counterparties has been proven. Signs of a merger were noted at the level of consolidation of internal assets of infrastructure divisions of large companies in the metallurgical industry.