Development Of Market Economy Research Articles

Contribution of Corporate Governance on Performance of Listed Companies in Kenya

Leadership is a process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task. Corporate governance has dominated leadership policy agenda in developed market economies for more than a decade and African continent is gradually adopting it on their policy agenda on leadership and governance of their organisations. The Nairobi Securities Exchange (formerly Nairobi Stock Exchange) (NSE) is the principal stock exchange of Kenya. This study was to establish the contribution of Corporate Governance on leadership performance of Listed Companies in Kenya. The target population consisted of the 62 listed companies that had been listed at the NSE in 2015. The study used primary data which was collected using questionnaires. Data was analysed and presented using the Statistical Package for Social Sciences (SPSS). Descriptive and inferential statistics were used to present the results of this study. The study found that good corporate governance is a major ingredient to leadership performance and there must be deliberate effort by company leadership to create systems that ensure there is effective corporate governance. The study recommends that board of directors should actively promote long term performance, take control of the company business and significantly promote growth in financial performance, market performance, shareholder return, share value and customer satisfaction. The study encourages company leaders to draw strong strategies to counter any political interferences, ethnicity and nepotism which are the major cancerous effect to leadership styles and structures, leadership composition, leadership independency, stakeholders’ ownership and ownership concentration which are significant factors to performance.

Analysis of Financial Risk Early Warning Systems of High-Tech Enterprises under Big Data Framework

With the further development of China's market economy, the competition faced by companies in the market has become more intense, and many companies have difficulty facing pressure and risks. Among the many types of enterprises, high-tech enterprises are the riskiest. The emergence of big data technologies and concepts in recent years has provided new opportunities for financial crisis early warning. Through in-depth study of the theoretical feasibility and practical value of big data indicators, the use of big data indicators to develop an early warning system for financial crises has important theoretical value for breaking through the stagnant predicament of financial crisis early warning. As a result of the preceding context, this research focuses on the influence of big data on the financial crisis early warning model, selects and quantifies the big data indicators and financial indicators, designs the financial crisis early warning model, and verifies its accuracy. The specific research design ideas include the following: (1) We make preliminary preparations for model construction. Preliminary determination and screening of training samples and early warning indicators are carried out, the samples needed to build the model and the early warning indicator system are determined, and the principles of the model methods used are briefly described. First, we perform a significant analysis of financial indicators and screen out early warning indicators that can clearly distinguish between financial crisis companies and nonfinancial crisis companies. (2) We analyze the sentiment tendency of the stock bar comment data to obtain big data indicators. Then, we establish a logistic model based on pure financial indicators and a logistic model that introduces big data indicators. Finally, the two models are tested and compared, the changes in the model's early warning effect before and after the introduction of big data indicators are analyzed, and the optimization effect of big data indicators on financial crisis early warning is tested.

Creating a New Chinese Discourse on Political Economy: The Innovative Development of China’s Private Sector Theory

Ever since China implemented its reform and opening up policy in the late 1970s, it has engaged in theoretical and practice-based innovations in the development of its private sector. China has experienced four evolutionary stages of private sector development and theoretical innovation: from proposing that the private sector was “subsidiary and complementary to the socialist public sector,” to elevating it to the heights of China’s “basic economic system”; from adhering to the principle of “the two unwaverings,” i.e., unwaveringly consolidating and developing the public sector on the one hand, and unwaveringly encouraging, supporting, and guiding the development of the non-public sector on the other; and thence to further stating explicitly that “private enterprises and private sector entrepreneurs are one of us; they are socialist.” New theories of private sector development have been created in response to the inherent requirements of the primary stage of socialism, to the choice of the correct path to common prosperity, and to the human behavioral rationality and the laws governing people’s interest claims. The private sector is an important achievement of the development of the socialist market economy; an important force promoting the development of the socialist market economy; and an important actor in the building of the modern economic system. Creating new theories of private sector development has opened up a new realm for Marxist political economy.

COVID-19 and the workplace of higher educational institutions in developing market economies: Lessons, policy options and the emerging new normal

The COVID-19 pandemic, which was declared a global health crisis by the World Health Organisation (WHO) in 2020, has affected entire sectors of the globe, including the educational sector of developing market economies. This paper attempts to add value to the extant literature and debates on the effects of the COVID-19 pandemic on the workplace of higher educational institutions in developing market economies (WHEIDMEs). Using content analysis and a multiple perspective approach (MPA) that is mainly descriptive, the paper argues that beyond the generic view of the catastrophic effect of the COVID-19 pandemic on tertiary educational institutions in developing market economies and the world in general, the pandemic has propelled positive lessons and changes in the management and administration of higher educational institutions (HEIs) in developing market economies. Agba, Ocheni, and Agba (2020) revealed that the COVID-19 outbreak has altered and transformed the fabric of the workplace. The study recommends, among others, that managers of HEIs in developing market economies should build capacity in the area of information and communication technology (ICT), seek adequate funding for the sector from relevant authorities, and take steps that will prepare the educational industry for future emergencies and shocks. Conclusively, lessons leading to pragmatic policy options that are collaborative, adaptive, innovative, and digital are the emerging new normal in HEIs in developing market economies. The study is significant because the findings, lessons, and recommendations of the paper will to a large extent, if adopted, enhance the effective management of HEIs in developing market economies.

The Strategy of How to Deeply Integrate Technology and Finance in the Internet Environment.

To solve some problems existing in the mechanism of the combination of science and technology and finance, this study studies the deep integration of science and technology and finance combined with the Internet. At present, there are many problems in the development of science and technology finance in terms of bank credit, capital market, service system, and risk supervision. To solve these problems, we need to innovate bank credit products and service modes, expand the breadth and depth of capital market services, establish a new science and technology financial service system, improve science and technology financial supervision regulations and means, and comprehensively promote the deep integration of science and technology and finance in the new era. Based on this, this study first expounds on the importance of the deep integration of science and technology and finance, comprehensively analyzes the problems existing in the deep integration of science and technology and finance, and finally puts forward the construction strategy of science and technology and finance integration platform. In the development of market economy, the deep integration of science and technology and finance and the development of platform model effectively improve the innovation ability of science and technology enterprises. The research shows that the high integration of science and technology and finance is the inevitable trend of the future development of the economic market. Therefore, enterprises need to constantly improve their financial operation ability, pay attention to the ways and means of the development of science and technology finance, strengthen the construction of their own platform, improve their operation ability, and improve their development status, so that enterprises can obtain a higher position in the market competition and achieve the purpose of sustainable development.

Teaching Reform of Course and Certificate Integration under the 1+x Certificate System— Taking Industrial Robots as an Example

With the development of market economy, the demand for vocational talents is increasing, which promotes the great development of vocational education in China. Both the number of vocational colleges and the number of students are increasing than before, but at this stage, the teaching mode cannot meet the needs of market talents. Many students cannot get the salary they want after graduation, which seriously hits the learning enthusiasm of vocational education students. With the implementation of the 1+X certificate system, vocational education reform has entered a new level, and curriculum integration is also an important part of the reform. By formulating certificate standards for industrial robot majors and combing the curriculum content in combination with the path of curriculum integration, it is conducive to enhancing students' competitive advantage in employment and ensuring the sustainable development of higher vocational colleges.

Problems of Children of Internal Labor Migrants in Modern China: Analysis of Recent Studies

With China's urbanization and its development in market economy, mass rural-to-urban migration expanded over the past 35 years. The change in the forms of parental migration (from single to pair and then family) has led to significant shifts in the situation with rural children, putting forward new research issues. Consequently, children affected by internal labor migration have greatly increased in number, reaching over 100 million people (about 70 million continue to live in villages, and more than 35 million have moved to cities with their parents). Using data from international research published for the past 3 years, we more accurately determined main characteristics of left-behind and migrant-children. Being a vulnerable group in rural China, these children now are facing many problems in mental, physical and psychological development. Due to the differences in the environment in which children grow up we examined the existing approaches of scholars on the impact of internal labor migration on each group. For rural left-behind children the most acute issues are low academic performance, limited educational resources, and disruption in the process of socialization. While urban migration is related to the issues of inclusion in education, cultural isolation, and other psychological problems.

ДОСВІД ЗАПРОВАДЖЕННЯ ПРОГРАМ ВИКУПУ АКТИВІВ В КРАЇНАХ З РИНКАМИ ЩО РОЗВИВАЮТЬСЯ: МОЖЛИВОСТІ ДЛЯ УКРАЇНИ

Central banks in emerging markets countries are actively improving existing and introducing new monetary policy instruments. An urgent task is to study the experience of applying asset repurchase programs by central banks of those countries where full-scale hostilities took place with the occupation of part of the sovereign territory, as well as significant infrastructure damage with further significant reduction of key macroeconomic indicators. This article is devoted to highlighting the results of research aimed at studying the experience of asset repurchase programs by central banks in emerging markets countries with a focus on developing practical recommendations for monetary policy management for the national regulator in modern conditions. The conditions under which it would be more attractive for the central bank to start an asset repurchase program than to use standard instruments have been specified. The peculiarities of the application of asset repurchase programs in countries with developed market economies and in countries with emerging markets are revealed. It is justified why APP programs in emerging markets are smaller in scale and duration. The main channels of APP transmission are analyzed. It has been shown that the impact and effectiveness of each channel can vary from country to country depending on these factors. Structural factors and the degree of APP sterilization play an important role in the effectiveness of the channels. The article identifies key factors that determine the risks associated with the effectiveness of APP in emerging markets. It is proved that for the effective application of APP in the realities of Ukrainian economy it is necessary to promote the further development of the financial market. Achieving a long period of price stability and increasing confidence in the central bank will only help increase the efficiency of APP. Prospective directions of increasing the efficiency of asset repurchase programs are outlined, taking into account some specific features of the current macroeconomic situation in Ukraine. The obtained results potentially will improve the management of the processes of evaluation and analysis of the effectiveness of the use of unconventional monetary policy instruments, as well as the evaluation of the effectiveness of the use of monetary levers of the macro-financial stabilization mechanism.

Izazovi savremenog sportskog menadžmenta

The two centuries long course and development of modern sport has faced a number of challenges and changes, casing significant changes in sports management globally. Changes in the sports industry are affecting athletes, team owners, fans and society as a whole. In developed market economies, an increasing number of people are professionally involved in the field of sports, not only as athletes, but also in management of various processes, activities, events, human resources and finished products related to sports. The development of technology also has a constant impact on the development of sports in training technology, from the use of modern information technologies in the process of training, competition, to monitoring sports events, communication with fans, etc. The challenges of modern sports management are numerous and require relevant skills for the wide range of jobs it encompasses. The need for systematic management of all elements of sport emphasizes the importance of sports management that is oriented towards long-term success and well-being, both for the sports industry and for athletes and sports organizations.

Economic assessment of land: scientific, legislative and regulatory problems of development

The decision to cancel land economic assessment out of the land valuation works needs scientific substantiation and consideration of the world practice of its application. The research aims to study how the concept of “economic assessment” in used in the world practice, as well as analyzes its essence and performed tasks. The article supplies analysis of the legislative and regulatory problems of development of the economic assessment of land, land resources and land use as an important economic instrument of land relations regulation and territorial spatial development of land use in Ukraine. The research examines the thesaurus framework concerning public requests for the notions of “economic assessment of land”, “economic assessment of land use”, “economic assessment of land resources” and “economic assessment of natural resources”, “land valuation”, “land use valuation” and “land resources valuation”. It is confirmed that the concepts of “economic assessment of land”, “economic assessment of land resources”, “economic assessment of natural resources” are less often used in the world practice as compared to such notion as “economic assessment of land use”. However, in the world practice, the most widely used notion is “land use valuation”, the second position is taken by “land resources valuation”, whereas “land valuation” is rarely used. It is confirmed that the notion of “economic assessment” is up-to-date and is widely used in the developed market economies. In Ukraine, the concept of “economic assessment of land” is not quite correct. To activate scientific researches and to shape the legislative and regulatory supply for development of economic assessment of land and other natural resources, as well as land use, the work clears up the conceptual essence, which should be interpreted as a money expression of economic or social value of both economic and environmental assets, determined by natural peculiarities. Findings of the research confirm that economic assessment determines the value of land, land resources and land use that is estimated by the effect, which the land-holder obtains from using the land or other natural resources within the ecosystem area. The research defines their targeted use. It is identified that the objects of economic assessment include land, land resources, land use, ecosystem services, land and environmental losses. Prospects of the further research involves studying the targeted use for effective employment of the economic assessment objects.

ГОСУДАРСТВЕННАЯ ПОЛИТИКА НА РЫНКЕ ТРУДА В СТРАНАХ ЕС: ОСНОВНЫЕ ТЕНДЕНЦИИ И НАПРАВЛЕНИЯ ТРАНСФОРМАЦИИ

The aim of this paper is to determine the prospects for the development of employment programmes in the labour market and the directions for their transformation in the EU countries. The author uses general scientific methods, methods of statistical processing of information, graphical methods, and comparative analysis. The information base of the study includes statistical data and materials of international organizations (UN, ILO, Eurostat, European Commission). The research results: the article presents an analysis of labour market policy measures in the EU countries during periods of sustainable development and economic crises; considers the structure and dynamics of expenditures on various programmes and the number of their participants; identifies the government labour market policy trends and the features of its implementation in countries with developed market economies and in post-socialist countries; presents assessments of the prospects for labour market policies in the EU countries in the face of new challenges. The author concludes about the prospects for labour market policy in the EU countries in the face of new challenges and about the possibilities of using the EU experience in developing active labour market policy measures in Russia. The scope of application: the research results can be used by Russian federal and regional executive authorities in the development of active labour market policy measures.

Перспективы инновационного развития системы высшего образования Республики Узбекистан в условиях цифровизации экономики

The authors conducted a study of the problems of innovative development of higher education in the Republic of Uzbekistan in the conditions of digitalization of the modern economy. The measures implemented by the country's leadership and aimed at the development of the digital economy, which also determine the ways of innovative development of the higher education system of the state, are considered and highlighted. The best practices of the development of various aspects of the digitalization of society in countries with developed market economies and in the post-Soviet space are studied through the prism of the possibilities of its use in Uzbek society. The main directions of solving the problems arising in the modern labor market in connection with changes in the country's higher education system in the context of the need for its digitalization are determined. It is proposed to develop standards for training specialists and create specialized training centers in the field of e-commerce. In addition, the forms, methods and proposals for coordinating the training of specialists in this field, the conditions for ensuring the connection of training with production through the organizational and economic structures involved in the process of e-commerce are also considered. It is also proposed to increase government spending on the creation and development of various elements of the infrastructure of the digital economy.

Development and current state of the institute of insurance brokers in countries with developed market economy

This article describes the role and importance of insurance brokers in advanced economies, the history of the development of the institution of insurance brokers. It also provides information on the status and indicators of sales of insurance products in the international insurance market through insurance brokers.

СВІТОВИЙ ДОСВІД ОПОДАТКУВАННЯ БАНКІВ

The article systematizes approaches to bank taxation in countries with developed market economies and Ukraine. The foreign experience was analysed and an analogy with domestic practice was made. The components that include the object of taxation of banking institutions are given. The main statistical indicators regarding the income tax of Ukrainian banks were analysed according to the data of the National Bank of Ukraine in dynamics. It has been proven that in Ukraine the share of bank income tax does not exceed 1% of all tax revenues. The global experience of banking taxation in the USA, Italy, France, Japan and other countries was studied. In the article, considering the global practice of taxation of banks in modern conditions, the key features of taxation of banking institutions are highlighted. Different methods of preferential taxation of banks are defined. A comparative analysis of the taxation systems of banks of Ukraine and other countries was carried out. There are two approaches to taxation of banking activity in the world. The first, which can be observed in the practice of most countries, provides for the cancellation of benefits used by banking institutions compared to other business entities to further establish equal taxation of financial institutions and enterprises. The second approach consists in differentiated taxation of banking activities, considering the role of banking institutions in economic processes and the specifics of banks' activities as financial intermediaries. Revenues from taxpayers and fees in the banking sector make up a small part of national and local budgets. Promoting the effective functioning of the banking system will provide an opportunity to increase the financial potential of the state by using the attributes of the taxation system, accounting, and reporting for banking institutions. In the conditions of war, to ensure the uninterrupted functioning of the country's financial system, it is advisable for Ukrainian banks to apply the following benefits: exemption from taxation of bank funds invested in innovative enterprises; tax benefits for banks offering long-term investment loans. The obtained results of the study can be implemented in the activities of state structures in the field of taxation in terms of making corrections in the organization of the banking system of Ukraine.

Oil Prices: After the High, What Do Developing Market Economies Do

Oil Prices: After the High, What Do Developing Market Economies Do

СОЦІАЛЬНО-ЕКОНОМІЧНИЙ РОЗВИТОК УКРАЇНИ ТА ДЕРЖАВНЕ РЕГУЛЮВАННЯ ЕКОНОМІКИ

The article considers the important aspects of market self-regulation and state centralized management in their organic unity. The expediency of numerous pressing issues’ urgent solution for Ukraine was noted. Government, by planning and utilizing its power to shape the economic policies is guiding the agribusiness towards a free-market competition regime while performing supervision function.Fully unbounded market cannot be treated as a perfect form of goods and services exchange. Therefore, the Government uses various administrative and legal, direct and indirect economic regulation tools. It is specified that the creation of new forms of "optimal combination" of state regulation and self-regulation will stimulate the economic activity development. In article a scientific approaches to economic regulation were considered. It was determined the need for state intervention in the economy. The attention on the advantages and disadvantages of government regulation and market self-regulation was featured. In addition to the above considered, tools of state regulation were reflected. The mechanism of government’s economy regulation should be unique, tailored to any change directions, goals and objectives of government economic policy. The article reveals the essence of government economy regulation. The structure of government economy regulation and the direction of economic policy was examined and characterized in its components. Proved that the direction of economic policy should be carried out simultaneously with the assessment of the effectiveness and selected methods of government economy regulation according to its functions, in order to respond quickly to any changes in the economy. Issues connected with the necessity of state regulation in all spheres of economy are somewhat controversial. State regulation is a means of balancing the economy of the country as a whole and the sustainable development of certain territories. In no country, the government has not stopped the activity concerning the market economy development. On the contrary, there is a constant search for new directions of improving relations between the government and the producers, moreover, depending on many factors there is a reduction or strengthening of the governmental regulation intervention.

The optimization countermeasure analysis of the cost control problem of small and medium-sized enterprises in the new era

Small and medium-sized enterprises (SMEs) which are indispensable in China’s economic development are the main body of China's market economy and the backbone of market economic development. With the continuous development of China's market economy, more and more SMEs have stepped into the "deep water" of economic activities, but a series of problems have come along, such as "small but beautiful", "small but special" and "small but not fine". At present, China's market competition is becoming increasingly fierce, but there are still many problems in the production and operation of domestic SMEs, resulting in more negative impacts. Therefore, this study is an in-depth analysis of the problems in the cost control process of SMEs, which is of great significance to improve the business quality of SMEs. This paper mainly analyzes and discusses the optimal countermeasures for cost control in SMEs in the new era.

Discussion on the Teaching of CNC Machining Technology under the Integrated Curriculum of Work-Study

Technical education shoulders the important task of cultivating highly-skilled talents for the development of socialist market economy. Therefore, technical colleges and universities must reflect the characteristics and advantages of technical education when carrying out the technical personnel training activities in diefferent major. As the technical colleges and universities in the new era, it is necessary to increase the innovation and reform of the teaching mode of CNC machining technology when carrying out training activities of CNC technology professionals, and to explore the idea of the constructing the work-study integration professional teaching system aiming at the current problems in the process of training technical talents in CNC machining, and improving the quality and efficiency of the training of talents in CNC machining technology. The article mainly analyzes and discusses the work-study integration teaching of CNC machining technology.

Reconstructing the Interpretation Framework of Marxist Political Economy on Modern Market Economy

Marxist political economy is still an important theoretical basis for analyzing the development law of modern socialist market economy. The basic production methods and distribution methods of the modern socialist market economy, as well as the main characteristics of property in the modern socialist market economy, can basically be explained by the basic concepts and principles of Marxist political economy in accordance with logical laws and historical experience. Based on the Marxist labor value theory, it absorbs the scientific connotation of the Marxist supply and demand value theory, and can reasonably explain various value concepts and price phenomena in the modern market. This paper attempts to reconstruct the interpretation framework of Marxist labor political economy theory on modern market value through research, and analyzes the historical development conditions of Marxist labor attention value political economy theory and the mathematical model of classic labor value theory. Qualitative analysis method and systematic scientific method are used to study and analyze the development of my country's market economy. The results show that since 2012, the scale of state-owned and state-controlled industrial enterprises has increased year by year. However, due to the gradual improvement of China's economic system, while developing the state-owned economy, vigorously supporting and guiding the collective and non-public economy, etc., the proportion has steadily continued to decline.

Research on ARIMA Based Quantitative Investment Model

The stock market is the most active and main component of the stock market. The operating situation of the stock market is a thumbnail of a country's macroeconomic development. With the continuous development of China's market economy, the increasingly perfect financial market, and the soaring enthusiasm for investment in society, stocks, as a way and means of financing, play an increasingly important role in promoting investment and financing, improving the turnover rate and efficiency of funds, promoting the rational allocation of scarce resources, stabilizing the capital chain of the real economy, and thus improving the welfare of the whole society. It is of theoretical and practical significance to study the relationship between stock turnover and macroeconomic variables, explore the influencing factors of stock turnover, so as to make more accurate analysis and prediction in the future, grasp the market situation more accurately, and better serve the economy and society. Based on the requirements given by the title: the data information given by the "Digital Economy" section every five minutes from July 14, 2021 to January 28, 2022 will be filtered out of the given attachments, and the unnecessary time data will be deleted to obtain a new attachment table. According to the macro market indicators, domestic market indicators, technical indicators, international market indicators 46 sub categories of indicators in the exchange rate category use the clustering method of taking the average value to express the indicators of the month, use the method of multiple linear regression to construct a multiple linear regression model to obtain the correlation coefficient, and analyze to get the more influential indicators.