Financial Results Research Articles

Управление досуговой деятельностью в отельном бизнесе: современные подходы и технологии

The development of cultural and entertainment programs is an integral part of the structure of recreation provided by hotels. The importance of this aspect in the context of the hotel business requires a more detailed study, opening up new opportunities to enhance its influence on the hospitality industry. The entertainment sector, closely related to the hotel business, demonstrates stable growth due to integration into the life of hotels. The main task of modern hotels is to meet the growing demands of visitors, which implies a variety of recreational activities offered. Such events influence the formation of tastes and the emotional background of vacationers. In addition, they serve as a source of additional profit and contribute to increasing the prestige of the institution, which directly affects its financial results. The objective of this research is to evaluate the significance and potentiality associated with the creation of cultural and leisure activities. These endeavors are anticipated to lay the groundwork for the development of holistic recreational propositions tailored for guests of hotels.

FEATURES OF THE ACCOUNTING OF FINANCIAL RESULTS AT AGRICULTURAL ENTERPRISES

The subject of the study is a set of theoretical, methodological and practical issues related to the formation, organization and creation of the most advanced accounting system of financial results, which ensures the improvement of the management efficiency of an agricultural enterprise. The purpose of writing this article is to substantiate certain theoretical and methodological provisions and develop practical recommendations for improving the accounting of financial results of activities for making managerial decisions regarding the development of agricultural production. The methods of logical analysis, induction and deduction are also applied to clarify the essence of income and financial results; methods of expert assessments – for researching the state of accounting in agricultural formations; methods of functional and logical analysis – for building an accounting information model of financial results.

Issues of efficiency of financing the agricultural sector

In many economically developed countries, state support, financial investments in the agricultural industry, increasing productivity and profitability, ensuring the availability of food are the main factors of economic growth, first of all, employment of the population. Purpose - the main problems of financing the agro-industrial complex of the republic and scientific approaches to their solution are considered. Methods - comparative analysis, synthesis, monographic, logical evaluation to determine the mechanisms affecting the effectiveness of state aid and investment. Results - the article analyzes the sources of budgetary allocation of the agrarian sector. The significance of the implementation of targeted programs aimed at improving the quality of life of rural residents through price, tax, leasing mechanisms, soft loans and subsidies is shown. The study presents information for 2018-2022, supplemented by the data of the National Project on the development of agro-industrial complex of the Republic of Kazakhstan for 2021-2025, including the total volume of agro-industrial production and the size of capital investments. The study notes the need to increase the volume of domestic processing industry, allowing agricultural producers to expand the market for products, create conditions for new jobs, attract investment, and contribute to economic and social stability. Conclusions - specialization of rural areas, development of technical map and related organization of production in promising villages and district centers, increase in exports, distribution of online services are strategic directions of development of food complex, economic activity of agroformations. The use of external resources gives an opportunity to improve financial results, and farms - to increase income from core activities. When planning large investments in agricultural projects, one of the key criteria is the choice of capital structure to support the investment process.

To Survive in the COVID-19 Pandemic: The Financial Aspects of NGOs

On the one hand, during the COVID-19 pandemic, NGOs are under pressure to provide more support. On the other hand, these organisations are facing new challenges that limit their activities, for example, a lack of volunteers and the inability to continue programs, raise funds, and serve beneficiaries. Despite these challenges, some NGOs have been forced to close down, while others have successfully collected funds and developed their activity. Therefore, this article aims to research how NGOs changed their funding models to overcome fundraising problems during the COVID-19 pandemic . The study investigated the impact of the COVID-19 pandemic on various non-profits in Poland, Lithuania, Croatia, and the United Kingdom. The results of the content analysis showed that critical success factors were: additional projects, public funds, collaboration with the government, the use of grants, additional funding from the funder, virtual fundraising and campaigning, collaboration with other NGOs, combined resources, implementation of joint projects, and the cooperation with the funders. The logistic regression analysis results supported the hypothesis that the financial success of NGOs during the COVID-19 pandemic depended on a change in the funding model and on a shift in financing from the corporate founder. However, despite the better financial results of NGOs, non-financial results were worse in times of crisis.

Trends in the development of the fisheries complex and consumption of fish products in the country

The purpose of the work is to analyze current trends in the development of the Russian fisheries complex and identify the causes of the stagnant dynamics of consumption of fish products by the population.Methods used: general scientific research methods, as well as methods of statistical analysis of time series, graphical and coefficient methods.The element of novelty: The current interdependence between the dynamics of fish catch, the actual financial results of economic activities of enterprises, as well as the general level of consumption of fish products by the population has been revealed. The study based on quantitative analysis complements the existing economic theory with new empirical data necessary to clarify the current directions of development of the country’s fisheries complex for its sustainable development.The results of the study: the actual catch of fish in Russia, which reached its historical maximum in modern history of 5.3 million tons in 2023, with simultaneously high levels of exports of fish products, provided an increased level of profitability of economic activities of enterprises and an increase in their financial independence in comparison with other sectors of the economy, however, the studied trends in the development of the fisheries complex were not broadcast in advance the increase in consumption of fish products by the population, in particular, from 2010 to 2022.Practical significance: the obtained research results and empirical data can be used by the authorities in developing relevant directions for the sustainable development of the country’s fisheries complex.

ECONOMIC AND FINANCIAL SITUATION OF THE FOOD INDUSTRY IN POLAND IN THE YEARS 2019-2023

The aim of the article is to assess the economic and financial situation of the food industry and its main industries in Poland in 2023 compared to 2019. The analysis used the method of synthetic assessment of the financial result developed by Bednarski. A comparative assessment of the dynamics of quantitative and qualitative indicators determining changes in the value of individual production factors and the efficiency of their use was carried out, both for the entire food industry and its main industries. The research was further enhanced by a cause-and-effect analysis of the financial result, which determined the level of influence of individual production factors on the growth of revenues and profit. The study used published and unpublished data from the Central Statistical Office. The synthetic assessment of the financial result of the food industry shows that despite the fact that entities in the audited period faced many challenges, m.in. related to price pressure, their economic and financial situation in 2023 was better than in 2019. In-depth research has shown that the development of the sector took place mainly through the increase in the technical equipment of labor and the improvement of the economic efficiency of the human factor involved in economic activity. Such a situation occurred in most industries (in 13 out of 18 respondents), and only in a few did not improve the net financial result. In the coming years, companies will have to face challenges related to, m.in others, high costs of raw materials and labor, but also the energy transition, which is why achieving sufficiently high processing margins is a priority for enterprises.

Analysis of Financial Performance of Yunnan Baiyao Group Co.

Yunnan Baiyao Group Co., Ltd. has been actively expanding its business territory and product lines, led by its diversification strategy, thus achieving remarkable financial results. The company has also used scientific asset management strategies to optimize the allocation of resources and enhance the efficiency of asset utilization, while efficient operations have provided solid support for its diversified growth. However, the implementation of a diversification strategy also introduces specific financial risks and challenges. Increasing financial pressure and intensifying market competition have gradually emerged, which require Yunnan Baiyao Group Co., Ltd. to continuously improve its financial structure and strengthen risk management to ensure the durability and profitability of its strategy. This article not only comprehensively analyzes the financial performance of Yunnan Baiyao Group Co., Ltd. in implementing its diversification strategy, but also deeply discusses the challenges faced by the group and its corresponding response strategies, which provides valuable reference and far-reaching insights for other enterprises in adopting similar strategies.

THE ADOPTION OF BUSINESS DIGITALIZATION BY SMEs: A CASE STUDY IN BANDUNG

The objective of this study is to investigate the the existing practice of business digitalization by SMEs in Bandung. There were qualitative techniques employed in conducting the research, which mainly consisted of several interviews with small scale enterprise owners cutting across different sectors. The findings show that digital enterprises are responsible for significant improvements in business operations and financial results. However, there are still some challenges including high costs at initiation stage and inadequate employee skills required. According to research affordable technology solutions and training employees can be effective approaches to mitigate these obstacles thereby improving Small Medium Enterprises benefits from going digital.

A privacy-preserving traceability system for self-sovereign identity-based inter-organizational business processes

Blockchain is a potential technology for collaborating organizations, notably for executing their Inter-Organizational Business Processes (IOBPs). While Blockchain’s transparency and decentralized characteristics address the lack-of-trust issue in IOBPs, many existing Blockchain solutions share this data on the ledger, often at the expense of serious privacy concerns. Alternatively, Self-Sovereign Identity (SSI) systems are revolutionary Blockchain-based solutions that provide complete data control. Unlike traditional Blockchain solutions, many SSI systems do not record the exchange of transactional data between entities on the ledger in order to comply with privacy regulations. However, this can imply a gap in cases where legal traceability is required for audit purposes. To address traceability issues in SSI-based IOBP, this paper leverages Zero-Knowledge Proof (ZKP) and Fully Homomorphic Encryption (FHE) to provide an efficient privacy-preserving traceability solution. The purpose of this paper is to achieve traceability that strikes a balance between privacy and transparency. This paper also provides a proof-of-concept implementation and a comparative evaluation. The evaluation shows that the proposed ZKP approach provides better financial cost and performance results compared to traditional Blockchain-based traceability solutions.

Pengaruh Kompetensi Karyawan, Motivasi Kerja, dan Kepuasan Kerja Terhadap Kinerja Sistem Informasi Akuntansi di LPD

The development and progress of Village Credit Institutions (LPD) can be seen through various achievements such as financial performance and operational results. A good Village Credit Institution (LPD) is recognized from its financial reporting system and services. In reality, not all (LPD) are able to use AIS wisely and accurately. The purpose of this research is to understand the influence of employee competence, work motivation, and job satisfaction on the performance of the accounting information system. The population consists of LPDs in Ubud Regency, Bali with a representation of 96 people. The data collection techniques used in this study include quantitative. The studies that have been carried out prove that employee ability has a positive effect on AIS performance, work motivation has a positive effect on the use of AIS, and job satisfaction has a positive effect on the use of AIS. We found that it had a positive impact. The magnitude of the influence of independent variables on the use of AIS is 65.4%.

Impact of tax benefits on Peruvian companies' financial results

This study investigates how tax benefits influence corporate profitability in companies in Chachapoyas, Peru, emphasising the importance of proper fiscal management to improve financial performance. The relevance of tax incentives in profitability management is discussed, and challenges associated with legislative uncertainty and the lack of tax training are examined, which limit efficiency in resource management and the optimisation of financial assets. Using a quantitative approach, financial and tax data are analysed to examine the relationship between tax benefits and corporate profitability in a natural context, employing descriptive and inferential analysis techniques with SPSS software. The findings indicate a significantly positive correlation between tax benefits and profitability, demonstrating that tax optimisation can support sustainable economic growth for businesses. A deficiency in the knowledge and application of efficient tax strategies is identified. The study highlights the need for educational and tax optimisation programmes to improve tax management in businesses, which can contribute to a broader tax base and greater state capacity to finance essential public services. The article provides an applied and strategic perspective on fiscal and economic management, offering valuable implications for public policy formulation and corporate decision-making, and highlighting the importance of a holistic approach that integrates fiscal, financial, and corporate management.

The Impact of Risk Management on the Financial Performance of the General Insurance Companies in Bangladesh

Objective: Proper risk management abilities are the keys to financial success of any company. The purpose of this study is to explore the relationship between risk management activities and the financial performance of listed general insurance firms in Bangladesh. Methodology: To investigate the impact, secondary data have been collected from the annual reports of the 42 insurance firms listed in the DSE for a five-year period (2017–2021). ROA, the depended variable has been used as a proxy of the financial performance, while risk management performance of the firms was analyzed using credit risk, market risk, operational risk, liquidity risk, underwriting risk, solvency risk management capacity of the companies separately and aggregately. Findings: The regression result shows that solvency risk management has significant positive impact on financial performance while credit risk, operational risk and underwriting risk management activities also have positive impact on firm performance. In addition, while the risk management has been considered in a holistic approach considering all the risk management tools in aggregate, the regression analysis reveals that comprehensive risk management initiatives show significantly positive effect on firm performance of insurance firms. Practical Implications: This study underscores the need for effective risk management strategies within companies to boost their financial results. Originality: Very few papers in Bangladesh have explored this area in Bangladesh specially in insurance sector. Findings of this study in the context of Bangladesh contribute to the literature gap and help the management to take necessary initiatives to improve performance. Limitations: Selecting short time period for analysis and using ROA as the only dependent variable for performance measurement are the major limitations of this study.

Anti-crisis adaptation of the Ukrainian tourism industry

With the development of tourism, a tourism companies or destinations become as dependent as possible on a wide variety of political, social and economic events, and this actualizes a number of risks and increases vulnerability to a potential crisis. The set of crises that befell Ukraine throughout the 21st century, each time destabilized the progressive development of the tourism sector, pushed entrepreneurial initia­tives back into the past. Mitigating the impact of crisis phenomena on the development of tourism cannot be imagined without a detailed statistical analysis of these impacts and the level of adap­tability of tourism as a whole and its individual branches. The purpose of the article is to reveal the impact of several large-scale crises of the 21st century on Ukrainian tourism and study the degree of adaptability of its industries through a number of indicators, including the economic and financial results of the relevant business entities. The main hypothesis of the study was that different sectors of the economy, the enter­prises of which are part of the tourism sector, are characterized by different degrees of adaptabi­lity to large-scale crises. When writing the article, the results of several state statistical observations and expert assessments were used. The article examines in detail the ways in which crises and upheavals have shaped and changed the tourism landscape of Ukraine in recent years. The study highlights the tangible, measu­rable consequences of major shocks – from a sharp decrease in the number of tourists and their behavior patterns to sharp changes in the economic results of the sectorʼs enterprises. The work aims to provide a detailed understanding of the sustainability and adaptability of the two main sectors of tourism - the hospitality and tour operating sectors. This analysis highlights the factors that have enabled certain tourism sectors to withstand the crises of recent years, while others may have struggled to adapt and recover. By carefully cataloging these trends and pat­terns, research provides information that can help design mitigation strategies

Process Management and Its Financial Impact on Industrial Companies in Ecuador and Latin America

This article analyzes process management and its financial impact on industrial companies in Ecuador and Latin America. Through a literature review and case analysis, process management practices, their benefits and challenges, and how these practices influence the financial results of companies are explored. It highlights the key aspects that contribute to improving operational efficiency and profitability, providing recommendations for successfully implementing process management in the industrial sector.

A Study on Profitable of Futures with the Reference to SBI Bank

New instruments and reengineering of the financial system were introduced in India in 1992 as apart of economic market reforms. One among them was that the growth and innovation were slow infamiliarizing Securities. The formation and expansion of derivatives in Indian markets are moderately alatest spectacle. Subsequently its commencement in June 2000, the products need devises displayedepidemicaugmentation in magnitude and the number of bartered conventional agreements. Significanttermend product guides an expansive class of financial tools that specifically possess options andfutures. These mechanisms emanate their significance from the underlying asset's price and otherrelated variables. They accomplish not having a value of their own and originate their importance fromthe prerogative they give to their proprietors to own some additional financial support or safety. Thepresent study is deliberate in examining the financial results obeying SBI Bank Ltd.

Climate Research Contributions in Occupational Safety

Objective: This work aimed to identify the additional contributions of the Climate Survey to the Safety area of some companies. Theoretical reference: As a theoretical framework, different questionnaire models were used to research the perceptions of the workforce. Method: A case study was used as a method, whose data collection instrument was a climate questionnaire, constructed from bibliographic research in the ISI Web of Science and Scopus databases, applied to a universe of 455 workers of an offshore organization. Results and Conclusion: Despite being strongly linked to the company culture, the Climate Survey revealed factors underlying risk behaviors, the scope and systemic nature of failures, proving to be an effective diagnostic tool for safety management. Search Implications: This study found that cost reduction policies and focus on financial results tend to reduce organizational investments, leading many companies to adopt reactive management models. And by restricting safety actions to the occurrence of accidents, they ignore unrecorded risks, their scope, latent causes and their systemic nature. Originality/value: This case study is original and assumes an inestimable value due to its scope.

A Novel View on Dental Service Management Optimization Using Markov Processes

To develop a mathematical model for managing dental services as a Markov random process based on the state graph of the process of providing dental care to the population. Markov chains, limiting probabilities of states and equations of A.N. Kolmogorov, and a graph of possible states of the dental care provision process, enabling to mathematically describe and optimize the process of managing dental services using a Markov random process in Moscow. With a full return of patients for correction of defects in the same dental medical organization where the poor-quality service was provided and a maximum warranty period of 5 years, the average financial result (gross profit) of the considered dental medical organization and the relative average increase in the financial result are maximum and equal to Rub 5,018,18 and 64.42%, respectively. It is shown that with a slight increase in the warranty period from one to three years, the financial result (gross profit) grows faster than with a warranty period of 3 to 5 years. To achieve a relative average increase in financial results by a factor of 1.5, the warranty period for dental services provided should be 3.13 years. Doi: 10.28991/HEF-2024-05-03-05 Full Text: PDF

The Influence of Environmental, Social, and Governance (ESG) Performance on Financial Outcomes: The Moderating Role of Board Characteristics in Malaysian Firms

Environmental, Social, and Governance (ESG) factors are becoming more widely acknowledged as essential elements of corporate performance. The objective of this study is to explore the relationship between ESG performance and financial results, with a particular emphasis on businesses located in Malaysia. This study investigates the ways in which the characteristics of boards, specifically the size of boards and the gender diversity of board members, modify this relationship. Using data from 346 Malaysian enterprises, the study discovers a link between ESG performance and operating income. The association between ESG and financial results is strengthened by larger board sizes, whereas board gender diversity does not have a meaningful influence on moderating this relationship. The findings provide insights into corporate governance practices, suggesting that larger boards can amplify the financial benefits of strong ESG performance.

The Impact of ESG on Corporate Financial Performance: The Case of Apple Inc

The purpose of this research paper is to examine the connection between corporate financial performance and Environmental, Social, and Governance (ESG) aspects, with a particular emphasis on Apple Inc. Examining whether environmental, social, and governance factors significantly affect financial performance is the main research question. This study adds to the expanding corpus of research on the relationship between sustainability and financial performance by addressing the challenge of determining the degree to which ESG practices affect a company's financial outcomes. A mixed-method approach was used in the research, integrating qualitative findings with quantitative analysis. To evaluate Apple Inc.'s financial performance during a given time frame, financial data from the company was gathered and examined. Information pertaining to ESG was also looked upon. The study's findings show that Apple Inc.'s corporate financial performance and ESG factors are positively correlated. Financial data research showed that Apple's strong commitment to social responsibility, environmental sustainability, and sound governance processes had a favorable impact on its financial results. Additionally, the qualitative study pinpointed particular ESG activities that improved customer loyalty, brand reputation, and operational effectiveness—all of which eventually led to financial success. The results emphasize how crucial it is to include ESG considerations in company strategy since they have the potential to provide value and improve financial performance. The results may provide valuable insights for investors, policymakers, and stakeholders who seek to understand the relationship between ESG considerations and financial performance.

Clariant delivers strong underlying margin improvement in 2Q 2024 and increases 2024 profitability outlook to around 16 % EBITDA margin: Key financial results for 2Q 2024

Clariant delivers strong underlying margin improvement in 2Q 2024 and increases 2024 profitability outlook to around 16 % EBITDA margin: Key financial results for 2Q 2024