Financial Dimensions Research Articles

Civilian-Military Integration in Ukrainian Defense Supply Chain

This research delves into the intricacies of the Ukrainian military’s supply chain during the ongoing Russian-Ukrainian war, with a specific focus on the significant role played by the civilian population in supporting the armed forces. Termed a defense supply chain, our study employs a multilevel model encompassing logistical, informational, and financial dimensions to elucidate the multifaceted levels within the defense supply chain network. Key actors identified include manufacturers, non-governmental organizations (NGOs), donors, and conscripts. The study sheds light on the vulnerabilities in the flow of goods in the defense supply chain. A resilient defense supply chain relies on efficient NGO communication and the crucial alignment of donor income growth with escalating resource prices.

Globalisation of Professional Sport Finance

The objective of the present paper is to put a milestone on the roadmap toward a global economic system of professional sport, at least as regards its financial dimension, i.e., its model of finance, its ownership, and some new trends in global sport finance. Professional sport went through a radical change during the 1990s when switching from gate receipts to TV rights revenues as its major source of finance and from local/domestic to internationalised/globalised sources of revenue. This change was more marked in European soccer (football) before spreading throughout other professional sport disciplines. In fact, the whole distribution of sport financing was restructured as shown in this paper. Starting from this evidence of the first stage of sport finance globalisation, it appears that new transformations have been at work in sport finance more recently. In particular, soccer moved from globalisation of flows (revenues, finance) to asset globalisation in terms of club ownership. At last, this paper discusses the emergence of new trends in global sport finance such as treating professional (soccer) players as financial assets and crypto-assets penetrating the sports business.

Preparedness shapes tomorrow: crisis preparedness and strategies among SMEs amid external crises

ABSTRACT Prior research on crisis management focuses on crisis strategies used by small- and medium-sized enterprises (SMEs), predominately without considering their initial state of preparedness – how these SMEs stepped into the crisis in the first place. This study examines the effects of financial, organizational and cultural crisis preparedness on the strategic choices SMEs make during crises, specifically whether they retrench, persevere, or innovate. Utilizing a unique longitudinal representative dataset of SMEs spanning from 2015 to 2020, we test hypotheses related to the first COVID-19-related lockdown in Denmark. Our findings contribute significantly to the literature by showing that crisis preparedness is critical to SME’s strategic choices during crises. We demonstrate that the nature of SME’s pre-crisis preparedness – across financial, organizational, and cultural dimensions – distinctly shape their during-crisis strategic approach.

Impact assessment of critical success factors (CSFs) in public construction projects of Saudi Arabia

PurposeThere is a limited number of research work on critical success factors (CSFs) in public construction projects in Saudi Arabia. In response to this knowledge gap, the objective of this paper is to assess the impact of CSFs on the government construction projects in Saudi Arabia. The success factors are investigated from a broader consideration of failure criteria, from consideration of most effectiveness in successful project completion and also from consideration of the impact of implementing control processes for successful project completion.Design/methodology/approachThis study has analysed the impact of success factors on construction projects in Saudi Arabia using a descriptive methodology. An exhaustive literature survey is undertaken to identify the success and failure factors related to government construction projects in Saudi Arabia. The survey data are sorted out and analysed by cost, schedule, technical, context and finance dimensions of the projects based on project types, engineering complexity, size, modality, jurisdictional control and funding approach. To evaluate the influence of success factors implementation, qualitative data were collected in a survey via a web-based questionnaire that was sent to officials working and occupying a responsible position in national project guidelines organizations and in government construction organizations in Saudi Arabia. In all, 28 CSFs were identified, ranked and evaluated for their impact on project success. The four identified factors belong to process categories of construction projects, nine factors belong to management of construction projects and 15 success factors are identified for impact assessment of implementation in construction projects.FindingsThe study's findings have identified and ranked the top five CSFs that significantly influence project outcomes, including meeting time targets, adhering to financial budgets, delivering desired outcomes for all stakeholders, effectively managing risks and assembling the appropriate team while optimizing resource allocation. Additionally, the research indicates that hindrances to projects primarily stem from execution, economic, human and political factors. The study advocates for strict controls over incomplete engineering designs and advises against contractors independently handling design work to ensure project success. Additionally, addressing contractors' qualifications and financial matters is crucial for project success. By highlighting these CSFs and challenges, the research provides actionable insights to enhance project management practices in the construction industry.Research limitations/implicationsThis study is limited to the infrastructure projects constructed by governmental bodies with the participation of officials from government organizations. Further study, including private projects and officials working on private projects, may be needed to generalized the research outcome.Originality/valueNumerous studies have investigated CSFs in construction projects, but few have examined their relevance to Saudi Arabian government projects. This study aims to fill this gap by identifying key CSFs specific to Saudi Arabian public sector construction projects and assessing their impact on project success. It advocates for stringent controls in the Saudi Arabian construction sector, emphasizing the importance of preventing incomplete or altered engineering designs by contractors to increase the success rate of public sector projects. This research offers practical insights to stakeholders, advancing project management practices in Saudi Arabia's construction sector for improved outcomes and resource utilization.

Dealing with intervening factors in the patient engagement

PurposeThere is evidence that quality improvement projects developed with the participation of patients and family members are more likely to result in a sustainable change. To identify the intervening factors is an important step in promoting and supporting patient and family members’ engagement.Design/methodology/approachA survey was carried out with 90 hospitals. A total of 35 intervening factors were evaluated by the healthcare professionals from the quality area using a Likert scale. Factor analysis was applied to identify the relationship among the factors and cluster analysis and the standardized scores for each new latent variable were obtained to observe the association between them and hospitals profile. Cluster analysis allowed to group the hospitals with similar responses and to analyze whether there was any association with the profile of the institutions.FindingsA total of ten intervening factors are identified: two in the financial dimension, five in the structural and three in the personal and cultural. The standardized scores of latent variables suggest that the financial factors could be affected by the hospital capacity. The structural factors could be impacted by the accreditation status, location (region) and administrative control (ownership). And the personal and cultural factors could be by the location and dominant organizational culture. All of factors are influenced by the performed quality management activities. The cluster analysis allowed the identification of three groups in the financial dimension, and four in the other two dimensions. Except for the accreditation status in the personal and cultural dimension, no evidence of association between the groups and the variables raised to characterize the profile of the hospitals was found.Originality/valueThe study contributed to identify the relationship among the intervening factors turning possible to simplify and reduce them more comprehensively than those originally identified in the literature and at the same time maintaining the representativeness of the original variables.

Relevant aspects to be included in a national strategic plan for water services

Highlights Governments bear the responsibility for shaping sustainable and inclusive public policies for water services. A robust and comprehensive vision is crucial for water services, embodied in a holistic public policy. A holistic approach must encompass institutional, legal, technical, economic, financial, and social dimensions. Addressing both the current issues and the emerging challenges in the water sector is essential. It is necessary to align national strategic plans for water services with the strategic plans of local water utilities.

The Impact of Organizational Culture on the Innovation and Performance of SMEs: A Comparative Study between Germany and Thailand

Innovation is recognized as one of the key factors for economic growth and building a competitive advantage for small and medium-sized enterprises (SMEs) in today’s world. The purpose of this research is to investigate how innovation is related to organizational culture and performance of SMEs located in Germany and Thailand. Based on an extensive literature review, the authors propose a comprehensive research model that integrates the competing values framework, organizational innovation and the balanced scorecard framework. Data from 213 respondents across both countries were collected and analyzed utilizing structural equation modelling. Results show that despite their contrasting national cultures, adhocracy culture is a key driver of organizational innovation in both countries, leading to enhanced overall organizational performance, particularly in financial and customer dimensions. This study enriches organizational behaviour research with unique cross-cultural perspectives and equips leaders of SMEs with practical strategies for cultivating an adhocracy culture across diverse cultural landscapes.

EFFECTIVENESS ASSESSMENT OF INTERNATIONAL INVESTMENT IN THE UKRAINIAN TERRITORIAL COMMUNITIES’ ACTIVITIES

The article titled systematically examines and evaluates the impact and efficiency of international investments within the context of Ukrainian territorial communities. The research employs a comprehensive approach, delineating key factors influencing investment attractiveness and proposing indicators categorized into financial, economic, social, environmental, and legal dimensions. The study goes beyond theoretical considerations by conducting a survey involving experts from diverse fields, including state and municipal administration, community representatives, business stakeholders, and the education sector. Through this empirical assessment, the article provides a nuanced understanding of the multifaceted effects of international investments on Ukrainian territorial communities. It concludes with practical recommendations geared towards optimizing the efficiency of international investments within the activities of these communities, contributing valuable insights for policymakers, investors, and community stakeholders alike. In general, the article explores the critical role of international investment in Ukrainian territorial communities as a key avenue for economic development and the enhancement of the population's quality of life. The study aims to assess the effectiveness of international investment in these communities, recognizing their potential to significantly impact economic and social spheres. By conducting an assessment and taking the necessary measures based on the received data, the territorial communities of Ukraine can attract more international investments and contribute to the sustainable development of the territorial communities, and the conclusions can be used to make decisions on investment support, correction of development strategies and improvement of the investment climate.

The financial dimension of football injuries according to the wisdom of crowds

ABSTRACT Research question How football players’ injuries and consequent days missed on the pitch affect their market values is an under-researched topic. In this study, we thus examine this association for a large sample of football players. Research methods We use an OLS regression model, where the dependent variable is the footballers’ market value provided by Transfermarkt over time for 9,230 observations from 2006-2020. Results Our findings show that an injured player’s market value drops by 0.08% for each day out of the game and training. When the injury is severe (more than 28 days of absence) the fall increases to 11.2% of market values. These drops depend on player type (famous or non-famous), injury type (muscles, ligaments, bones, and others) and its severity. Implications Quantifying the impact of injuries on football clubs’ intangible capital is crucial for effective risk management and strategic sporting planning.

The impact of environmental protection tax on corporate performance: A new insight from multi angles analysis

This study investigates the practical effects of adopting the environmental protection tax (EPT) policy on corporate performance in China. The analysis uses the Difference in Differences (DID) approach based on a quasi-natural experiment scenario. The findings indicate there is a negative impact of implementing the EPT policy on the financial performance of corporations, and the conclusion remains unchanged despite exhaustive robustness testing. The negative impact can be partly attributed to corporate technology innovation inputs. Meanwhile, enterprise property rights, pollution, and technical levels also substantially influence the implementation effect of the legislation. However, implementing this policy has improved corporations’ environmental performance and established its efficacy in enhancing their sustainable capabilities. This study comprehensively explores the impact of environmental control legislation on business performance, spanning financial, environmental, and social dimensions. Corresponding findings offer valuable insights into how firms react to environmental legislation and adjust to the external environment. Meanwhile, it also provides an objective reference for the comprehensive green transformation.

Unveiling the power of social value: Catalyzing circular economy in emerging market SMEs

The circular economy serves as a dynamic force for sustainability, emphasizing energy conservation, enduring design, and recycling, all while prioritizing value creation. Aligned with the comprehensive triple bottom line framework, encompassing environmental, social, and financial dimensions, circular economy initiatives hold the promise of substantial organizational benefits. This research, deeply rooted in systems thinking, investigates the pivotal role of social value in achieving organizational objectives. Employing structural equation modeling, a serial mediation model is meticulously crafted based on a cross-sectional online survey conducted among small and medium-sized enterprises in Turkey. The findings bring to light mutually reinforcing relationships among triple bottom line dimensions, accentuating the positive mediating mechanisms between social value initiatives and organizational performance. This study significantly advances our understanding of social value, circular economy practices, and sustainability within the context of Turkish SMEs. The practical implications of this research provide valuable guidance for organizations navigating the realms of social and environmental responsibility. Through the implementation of diverse strategies, organizations can adeptly integrate and manage the multifaceted aspects of the triple bottom line, culminating in favorable outcomes and the cultivation of triumvirate elements that augment organizational performance.

Public perceptions of families affected by pediatric cancer and educational work in pediatric oncology.

This study aims to explore how Russian society perceives children with cancer and their families to determine its potential as a tool for solving the social struggles of cancer-affected youth. The study took place between 2019 and 2020 and involved 237 parents of cancer-affected children enrolled for inpatient treatment in 5 pediatric oncology clinics in the North Caucasus Federal District (Russia). The study exploits a specially designed questionnaire survey as its main research method. About half of the parents did not observe changes in their attitude towards their child following a cancer diagnosis, with women more frequently noting these changes (40% vs. 18%). Public sentiment diverges between poles of sympathy and alienation: 53% acknowledge the expression of sympathy, while 39% perceive a sense of alienation. This study underscores the imperative for adequate support for these families, encompassing both financial and social dimensions. The present findings can be used to design cancer awareness and anti-stigma programs aimed at educating the general population about the early symptoms of cancer, where to receive health consultation services, how to talk with and act around cancer-affected children, and how to support such children and their families. Despite advances in modern medicine and multiple cases of pediatric cancer being successfully treated, stereotypes about the incurable nature of cancer still exist in many countries. The present findings can serve as a platform for the comparative study of cancer-related issues in other regions and countries. The results of this study can also be used to design cancer awareness and anti-stigma programs aimed at educating the general population about the early symptoms of cancer, where to receive health consultation services, how to talk with and act around cancer-affected children, and how to support such children and their families.

Measuring the Impact of Green Finance on Poverty Reduction: Project of an Empirical Method

The paper aims to determine the impact of green finance on poverty reduction in selected countries of the CEE region (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Poland, and Serbia), from 2016 to 2020. Linear regression analysis was used to determine the impact. The results showed a significant positive impact of the economic and financial green finance development dimensions on poverty reduction, while the impact of the environmental dimension was significantly negative. In addition, based on the findings, green finance has a significant and positive impact on poverty reduction. The paper points out that raising the degree of green finance development can help reduce poverty.

Analysis of Regency and City Government Financial Reports in Provinsi Nusa Tenggara Barat

This research aims to analyze the financial condition of district and city governments in West Nusa Tenggara Province for the 2017-2021 period using analysis of financial flexibility ratios, financial independence ratios, and solvency ratios. The type of research used is descriptive quantitative. The research results show that for the group of district and city governments in West Nusa Tenggara Province in the 2017-2021 period that showed the best conditions in the short-term financial solvency dimension was the Bima City Government; the dimension of long-term financial solvency is the Bima Regency Government; the budget solvency dimension is the North Lombok Regency Government; the operational solvency dimension is the North Lombok Regency Government; the dimension of financial independence is the Mataram City Government; the financial flexibility dimension is the West Sumbawa Regency Government; the dimension of service solvency is the West Sumbawa Regency Government.

Analysis of Microfinancing in the Development of MSME Customers

Sharia banks primarily operate in accordance with Islamic law, which is based on concepts of fairness, balance, benefit, and the avoidance of prohibited aspects such as gharor, maisir, and usury. Bank Syariah Indonesia (BSI) is an exemplary sharia-compliant financial organization that offers financing and other services. It operates using sharia-compliant contracts that have been certified by the National Sharia Council. Microfinance has played a vital role in the financial sector since the early 1980s, with the goal of offering financial services to individuals and small and medium-sized enterprises who are economically disadvantaged. The primary focus is on achieving sustainable development by effectively managing and harmonizing the financial, social, environmental, and governance dimensions. The study employs a qualitative methodology to examine the impact of microfinancing on the development of micro, small, and medium enterprises (MSMEs), as well as the various forms of MSME development. The study examines the provision of funding by banks to businesses and self-employed individuals, with a focus on factors such as trust, agreements, duration, and associated risks. Financing has multiple purposes, such as encouraging commerce and economic activities, mitigating unemployment, allowing the movement of products and money, and fostering economic progress. MSMEs have a substantial impact on the Indonesian economy by making considerable contributions to the country's gross domestic product and employment rates.

Care Needs of Children with Inborn Errors of Metabolism and Their Parents: An Integrative Review

Background: Inborn errors of metabolism (IEMs) are a group of congenital and chronic diseases that cause many difficulties for children and their parents. Objectives: This review aims to identify the needs that they are faced in caring. Methods: This is an integrative review using the method of Whittemore and Knafl (2005). The databases of PubMed, Web of Science (ISI), SID, and Google Scholar were searched in English and Persian without any time and methodology restrictions in October and November 2022. Results: After screening the documents, 19 articles, consisting of 9 quantitative, 7 qualitative, and 3 review studies, were retrieved. Three categories of needs, including children, parents, and the healthcare system, were identified. The most reported needs were related to diet, psychological, social, and financial support dimensions and the necessity of implementing a multidisciplinary and coordinated care approach. Conclusions: Children with IEMs and their parents have many needs that can be satisfied through a multidisciplinary, patient-centered, and coordinated care approach.

Dimensions of corporate culture and financial performance: Evidence from Chinese publicly listed companies

Corporate culture is the soul of the enterprise and plays a vital role in creating corporate cohesion and improving business performance; in many cases, the role of corporate culture on business performance is not direct, but there are a series of intermediary influencing mechanisms. Most of the current academic circles have studied the influencing mechanism between corporate culture and business performance from the perspective of dynamic matching. Still, there is a lack of research results based on the theoretical perspective of Edgar H. Schein's corporate culture dimensions. Based on Edgar H. Schein's theoretical perspective of corporate culture dimensions, this study explores the influencing mechanism between corporate culture and the business performance of Chinese listed companies from the dimensions of corporate governance culture in the external environment and corporate governance culture in the internal environment. It conducts empirical research using the data of A-share listed companies in China's Shanghai Stock Exchange and Shenzhen Stock Exchange as samples. The results are twofold. First, the adaptability of the enterprise's external environment has a significant and positive effect on the Weighted average return on net assets in the financial dimension; it has a substantial and positive impact on customer satisfaction in the non-financial dimension. Second, internal corporate governance culture has a significant and positive effect on weighted average return on net assets, Debt-to-Equity Ratio, Earnings per share in financial dimensions, Percentage of highly educated employees, customer satisfaction survey, and non-financial dimensions. Percentage of highly educated employees, Customer Satisfaction, Customer retention rate, and R&D investment as a percentage of operating income in non-financial dimensions have significant positive effects. The findings of this study provide theoretical and practical guidance for Chinese listed companies to strengthen the construction of external environment adaptive culture and internal corporate governance culture.

Assessing the Financial Viability and Sustainability of Circular Business Models in the Wine Industry: A Comparative Analysis to Traditional Linear Business Model—Case of Georgia

In the contemporary global context, waste management and the judicious utilization of resources have emerged as pressing concerns. Consequently, the concept of a circular business model has gained prominence as a viable solution. This innovative model reframes waste not as a disposable byproduct but as an opportunity to generate new value, setting it apart from the conventional linear business model, particularly in financial, economic, and operational dimensions. Numerous industries grapple with the issue of excessive waste generation, among them the wine industry, notable for its substantial water and grape waste outputs. This predicament holds significant ramifications both on a global scale and within the specific context of Georgia. Yet, it also presents an innovative avenue for waste recycling. This study draws upon a comprehensive review of internationally recognized literature, noted for their scholarly significance and citation prevalence. In its practical segment, two distinct investment projects have been meticulously developed which seek to evaluate the financial viability of the circular business model in contrast to the conventional linear business model. The investment projects considered are as follows: 1. Under the framework of a linear business model, the company exclusively engages in the production and sale of wine. 2. Within the circular business model paradigm, the company not only produces wine but also harnesses waste processing to yield grape seed oil, which is subsequently marketed alongside wine bottles. Both models undergo rigorous scrutiny, employing a comprehensive analysis of key financial indicators essential for assessing project profitability and efficiency. The outcomes of this investigation reveal that, under identical capital investment conditions, the circular business model surpasses the linear model in terms of profitability. This underscores the potential for sustainable practices within the wine industry and the broader business landscape.

SUSTAINABILITY AND RISK MANAGEMENT IN SHIPPING AND LOGISTICS: BALANCING ENVIRONMENTAL CONCERNS WITH OPERATIONAL RESILIENCE

This paper explores the delicate balance between sustainability and risk management in the shipping and logistics industry, addressing the escalating environmental concerns while ensuring operational resilience. Investigating the adoption of sustainable practices, alternative fuels, and eco-friendly technologies, the study examines regulatory frameworks and industry initiatives shaping sustainable development. Simultaneously, it delves into the risks associated with these changes, including financial, operational, and regulatory dimensions. The research also scrutinizes risk management strategies, encompassing proactive measures to mitigate environmental impact, compliance with evolving regulations, and the implementation of resilient operational frameworks. Through a comprehensive synthesis of academic literature, case studies, and industry insights, the paper contributes to understanding how sustainability efforts can align with robust risk management, offering valuable guidance for industry stakeholders, policymakers, and academics navigating the complex landscape of environmental responsibility and operational resilience in the global supply chain.
 Keywords: Sustainability, Risk Management, Shipping Logistics, Environmental Operational, Resilience.

The impact of digital financial literacy on financial behavior: customers’ perspective

Purpose This study aims to examine the nexus between digital financial literacy and customers’ perceived financial behavior within the Kuwaiti context. Moreover, it will further explore how digital financial literacy relates to financial behavior dimensions. Design/methodology/approach Data collection was facilitated by creating a questionnaire derived from multiple literature sources. This study used a cross-sectional, time-based dimension. Data was analyzed using the partial least square (PLS) structural equation modeling approach, using the Smart-PLS 4 software for computation. Findings Findings demonstrated a significant relationship between digital financial literacy and financial behavior, with a path coefficient of 0.542, a p-value of 0.000 and an R2 value of 0.581. The explorative model revealed substantial relationships between many dimensions of digital financial literacy and various dimensions of financial behavior. More precisely, financial knowledge, awareness and decision-making were the factors that had the most significant impact on financial behavior. Practical implications Kuwaiti policymakers should consider including digital financial literacy programs in comprehensive financial education programs to improve public understanding of digital financial instruments and their consequences. Originality/value As the authors know, this is the initial endeavor to evaluate the relationship between digital financial literacy, financial behavior and their respective dimensions.