Financial Situations Research Articles

FINANCIAL STABILITY AS A FINANCIAL SECURITY INDICATOR OF AN ENTERPRISE

Abstract. The system diagnostics of enterprise financial security developed by the authors are based on taking into account the combined effect of the main elements of the financial stability management process. On the basis of the justification of the interdependence of the main components of an enterprise’s financial security (on the one hand, the types of financial stability and the liquidity of the balance sheet, on the other hand, their correlative effect on the level of financial security) the authors proposed a model for its evaluation. It has been proposed that the type of financial stability of an enterprise should be determined on the basis of the identification of the financial situation in accordance with the scale developed on the basis of the values of the main financial stability ratios. The type of liquidity on the balance sheet is based on a comparison of liquidity-based items of assets with maturities. The unified impact of types of financial stability and balance sheet liquidity on the level of financial security became the basis for the development a matrix for diagnostics the general position of financial security of the enterprise. Based on the established relationship between the degrees of financial stability and liquidity of an enterprise on the one hand, and the level of financial security of operating activities on the other, a model has been developed to assess the level of financial security of the enterprise’s operating activities. It has been proposed that the financial stability and liquidity of an enterprise should be determined on the basis of a three-tiered indicator by classifying financial situations within the established indicator scale: depending on the priority of selecting funds to finance the tangible portion of a negotiable asset and the sufficiency and composition of a negotiable asset to meet current liabilities. On this basis, a diagnostic matrix of the financial security position of the enterprise’s operational activities has been developed. The interconnection of the positions of the financial security of the enterprise and the unification of its level enabled the authors to develop a matrix of zones of the general position of the financial security of an enterprise where, depending on the combination of financial security levels, zones are distinguished from absolute financial security to financial danger. The testing of each element of the proposed enterprise financial security diagnostic’s system on the materials of a selected group of enterprises of the oil-and-fat industry confirms the practical significance of the developed tools in the process of managing their general financial security. Keywords: financial security, financial security level, financial security position, financial security of operating activities, financial stability, liquidity, oil-and-fat enterprises. JEL Classification G30, M20, Q14 Formulas: 14; fig.:5; tabl.: 4; bibl.: 22.

Analysis of the effectiveness of regulation on financial health of Spanish local governments

ABSTRACT The need to reduce public sector costs and debt has resulted in the implementation of requirements in many countries. Spain belongs to a group of countries which monitor the financial health of their local governments, using financial indicators enforced by law, and reporting this information periodically. The objective of this paper is to analyse whether the introduction of the 2012 Spanish legislation regarding fiscal stability and budgetary balance and Ministry of Finance Order 1781/2013, which develop new indicators, have led to improvements in the financial health of local governments. The results of our analysis show that the introduction of legal requirements is effective and that the disclosure of indicators for benchmarking purposes has been beneficial and positive, although this is not so in all cases. The practical implication of this study is that the dual demands of evaluating the financial situations of local governments and disclosing this information reinforce their responsibility with respect to the general interest. This enables the comparative evolution of indicators, concluding that requirements are also needed to ensure that the goals are achieved, thereby helping to restore the reliability and transparency of their activities.

Financial Resilience: A Way Forward Towards Economic Development in Developing Countries

Financial inclusion is a policy priority in both developed and developing countries. Yet almost one in four people remain financially excluded around the globe, with the vast majority living in the developing world. In this paper, we argue that financial resilience: an individual’s ability to function effectively in adverse financial situations, can better help us assist people to cope with financial adversity, develop effective policy and, ultimately, improve economic development. This paper builds on an existing financial resilience measurement framework and adapts it to develop a measure appropriate to the context of developing countries. Indonesia, where one in three people are financially excluded, is used as a case country from which to draw conclusions. We use the Indonesia Family Life Survey and put forward the country’s first snapshot of financial resilience. Implications for research and policy are presented.

Empire's Labor: The Global Army That Supports U.S. Wars

Empire's Labor: The Global Army That Supports U.S. Wars

A Service Evaluation into the Marked Increase of Calls by Pregnant Women/New Parents to a Volunteer Helpline During the First Covid-19 National Lockdown

‘Stay home, protect the NHS, save lives’1 was the legally binding rule issued for pregnant women on 16 March 2020. The PANDAS (Pre and Post Natal Depression Advice and Support) Foundation recognised that there was an increase in the number of calls made to their free telephone helpline. Reviewing the calls from December 2019 to May 2020 demonstrated that call volume peaked the day after this ruling. Callers reported high levels of anxiety regarding their health and pregnancy, work and financial situations. Volunteers responded by sharing online resources, demonstrating a breadth of knowledge around support services for their callers at a time when midwives and health visitors were offering very limited face-to-face contact and support.

403Mental Health Needs in International Students of African Descent: Findings from the Healthy Minds Network

Abstract Background Mental health issues are becoming of increasing concern for college students while universities are also becoming more internationalized with students from diverse countries. Students of sub-Sahara African (SSA) descent represent a group understudied in the mental health literature who may have unique mental health needs. Methods Data on students of SSA descent (n = 916) was obtained for academic years 2016-2019 of the Healthy Minds Network (HMN), a yearly web-based survey conducted on US university campuses. Logistic regression analysis was conducted to identify factors associated with ever receiving counseling or therapy for mental health concerns. Results Over half (57%) were female with a mean age of 25.7. On the Patient Health Questionnaire (PHQ-9), 23% scored in the moderate, moderately severe, or severe depression range. Two-thirds expressed not receiving counseling or therapy for mental health concerns. In multivariate models, males (OR 0.5 (0.3-0.8), p = 0.01)) were less likely to receive counseling or therapy compared to females; students with more days of emotional or mental difficulties were increasingly more likely to ever receive counseling or therapy compared to students with no days of emotional or mental difficulties. Ever receiving counseling or therapy was associated with a rarely stressful financial situation (OR 2.6 (1.2-5.9), p = 0.02)). Conclusions Males may require incentives to get assistance with mental health issues. Making counseling more affordable could improve usage rates by students with more stressful financial situations. Key messages University administrators should consider options to address mental health concerns of this student group..

CSR assurance practice and financial distress likelihood: evidence from India

Purpose The purpose of this study is to examine the effect of corporate social responsibility assurance practice (CSRAP) on the financial distress likelihood of listed firms in India. It uses the signalling theory to interpret the relationship among the variables of the study. Design/methodology/approach The study used the Indian stock market as the testing grounds and applied probit and panel probit regression to examine the data set with 800 firm-year observations from 2010 to 2019. Findings The study’s first findings show that firms with an assurance service have a negative correlation and are less likely to stay in financial distress situations for an extended period. However, corporate social responsibility (CSR) assurance has a positive but weak correlation with insignificance with financial distress likelihood of firms in India. The authors also find that the engagement of CSR assurance and level of assurance (limited assurance) does not cause a change in a firm financially distress likelihood of firms in India. However, as assurance service providers, auditing firms are more likely to reduce a firm’s likelihood of financial distress. Finally, the study shows that CSRAP (CSR assurance, assurance service providers and level of assurance) does not moderate the association between CSR expenditure and financial distress likelihood of listed firms in India. Originality/value The study findings are the first to examine the level of assurance and financial distress of firms according to the authors’ knowledge. This study also adds new knowledge to the factors that cause or reduces the financial distress of listed firms, including CSRAPs.

Changes in Consumers’ Purchase Patterns as a Consequence of the COVID-19 Pandemic

The current COVID-19 pandemic has affected every aspect of consumer behavior—their expenses, investments, and financial reserves, as well as their financial and social wellbeing. As a consequence of different restrictions, consumers and their shopping patterns have changed significantly; thus, the factors that influence new purchase patterns need to be identified to help traders, retailers, and marketers develop appropriate strategies to respond to crucial consumer changes in the market. A categorical analysis (Pearson’s chi-square test) and correspondence analysis (simple and multivariate) were applied to a sample of 425 Slovak respondents to reveal the most important factors impacting consumers’ financial situations, as well as the effects on the maintenance of new shopping habits established during the pandemic period. The results revealed that consumers’ income, age, and sector of occupation play important roles in the context of new shopping patterns. These findings are in agreement with other global studies, confirming both the worldwide impact of the pandemic on consumer behavior and the importance of national studies on consumer shopping behavior in order for state authorities, traders, marketers, and entrepreneurs to be able to take necessary measures.

Analysing the forecast of electricity grid losses

Electricity grid losses, having a relevant impact on the financial situations of all network operators, are a major concern both in the transmission and distribution sector. Understanding the physical phenomenon underlying electricity grid losses is important to identify proper measures for reducing it, without impacting the quality of service and/or supplied electricity. Forecasting the volume accurately is also a relevant and challenging objective. In this paper, we analyze the main aspects that have to be taken into account in the forecasting process. Furthermore, the sensitive issue of the “commercial losses” or nontechnical losses is addressed briefly, pointing out the main characteristics and the associated perspective.

A Review on the New Normal, Employee Wellbeing and the Role of HRM: A Tale of HR among the New Normal for the Employee Wellbeing

The sudden change in scenarios due to the COVID-19 pandemic has not only affected people’s financial situations but also their health and wellbeing. Psychological, physical discomfort along with on and off work schedules have led to stress for both the employer and employee. Gearing pressure of competition to survive in the dying economy has led to a path for the ‘New Normal’ where the current situation has been accepted as Normal with new adaptations. Employees, risking their lives and leaving the so-called comfort of their homes have had to step out to join the office while others have turned their homes into offices so as to work from home. They are at high risk of infection and stressed with the changed working scenario. The most challenging phase for the employers is the well-being of their employees for the continuous and timely work progress. The Role of HR has become the most crucial factor during this pandemic. Dealing with the employees and getting the work done with the limited resources in the crisis is the most challenging task. The present paper studies the three terms- 'New Normal', 'Employee Wellbeing' and 'Role of HR' within linked perspective and provides insight based on the various researches done in this field. It has been found that employee well-being is a well-talked topic and it has been a great concern for all the HR executives for a long time. Well- being of the employee ensures mutual gain for the employee and the organization both.

Employment of Young Adult Cancer Caregivers, Other Disease Caregivers, and Non-Caregiving Adults.

Young adults are increasingly taking on caregiving roles in the United States, and cancer caregivers often experience a greater burden than other caregivers. An unexpected caregiving role may disrupt caregiver employment, leading to lost earning potential and workforce re-entry challenges. We examined caregiving employment among young adult caregivers (i.e., family or friends) using the 2015 Behavioral Risk Factor Surveillance System (BRFSS), which included caregiving, employment, and sociodemographic variables. Respondents’ ages varied between 18 and 39, and they were categorized as non-caregivers (n = 16,009), other caregivers (n = 3512), and cancer caregivers (n = 325). Current employment was compared using Poisson regressions to estimate adjusted incidence rate ratios (aIRR) and 95% confidence intervals (95% CI), including gender-stratified models. We estimated employment by cancer caregiving intensity (low, moderate, high). Cancer caregivers at all other income levels were more likely to be employed than those earning below USD 20,000 (aIRR ranged: 1.88–2.10, all p < 0.015). Female cancer caregivers who were 25–29 (aIRR = 0.71, 95% CI = 0.51–1.00) and single (aIRR = 0.70, 95% CI = 0.52–0.95) were less likely to be employed than their counterparts. College-educated males were 19% less likely to be employed than high school-educated caregivers (95% CI = 0.68–0.98). Evaluating caregiver employment goals and personal financial situations may help identify those at risk for employment detriments, especially among females, those with lower educational attainment, and those earning below USD 20,000 annually.

Financial Education: an experience with 3rd Grade students

Financial education is a subject that has been developing in schools with younger pupils, as they become active consumers, even at an early age. For this reason, they must gain knowledge and develop financial skills, which will enable them to acquire financial competencies. With the theme of financial education, it is intended that citizen be trained to be able to act consciously and responsibly in the financial sphere and, consequently, maintain a healthy and balanced relationship with money. Thus, it is essential to provide individuals, all of them, with knowledge and skills that allow them to respond effectively to everyday financial situations, even the simplest and most routine ones.

Social Challenges to the Education of Orphaned and Vulnerable Children in Eleme, Nigeria

Nigerian children under prolonged suffering because of loss of parents are faced with several challenges such as dropping out of school; in some cases, they may even be taken out of school to care for the home. In this study, we determined the challenges (financial, emotional and psychological) to the education of orphaned and vulnerable children in Eleme Local Government Area of Rivers State, Nigeria. All the 396 orphans in orphanages in the study Area constituted the study population. A Questionnaire captioned “the challenges to the education of orphans and vulnerable children, a case study of Eleme Local Government Areas of Rivers State”, was developed for the study. Whether male or female, the children held that financial situations and emotional stress, to a high extent affected their education. The children attempt to cope with these challenges by being frugal, seeking company among themselves, and trying to develop the ability to manage their emotions. Clearly, the provision of access to finance (e.g., through special bursaries and grants) and guidance and counselling professionals will enhance the continuity and performance of orphans and vulnerable children in the schools. Received: 2 May 2021 / Accepted: 15 June 2021 / Published: 8 July 2021

DOES COVID-19 PANDEMIC HAS IMPACT ON MILLENNIALS' PROPENSITY TO INDEBTEDNESS THROUGH E-MARKETING?

The introduction of electronic marketing (e-marketing) has a huge impact on consumer behavior as products are brought closer to consumers and barriers are lifted by breaking the time and physical constraints in marketing activities. A pertinent question to ask if the COVID-19 pandemic have further increased the tendency of consumers’ involvement in e-marketing? This study aims to explore the impact of e-marketing on the propensity to indebtedness among the Millennials in Malaysia during the COVID-19 outbreak. According to the literature, the purchasing intention and behavior of consumers are influenced by advertising in its various forms. Constant exposure to advertisements encourages people to make unplanned purchases and increases the likelihood of tolerating compulsive shopping. As a result, financial complications and over-spending are the most obvious problems associated with compulsive shopping, as people more often spend beyond their means. With the temptations presented by marketers and easy access to a wide range of payment methods, the financial well-being of customers, especially the technology-oriented generation, is threatened. Thus, it is expected that being constantly exposed to e-marketing could lead to risky financial situations, with greater tendency to incur debt. In testing this hypothesis, the study adopts a quantitative research to determine the impact of e-marketing on respondents' tendency towards indebtedness. A survey was conducted for data collection, with relevant questionnaires being designed to address this issue in the context of the undergraduate and postgraduate students at several universities in Malaysia. In analyzing the data, descriptive statistics and multivariate analysis techniques were applied using the SPSS and AMOS software.

Impact of Agile Methodology on Software Development Life Cycle

Software engineering strategies had been hired for decades to create software products. The most challenging task for the development of software is to select appropriate software development methodologies. Software developers use agile techniques to reduce the problems faced by the traditional waterfall process. These days, the motivation behind most programming associations is to give programming in a fast time, inside financial plan and changing situations that propelled the conveyance of Agile. The strategy that utilizes iterative expansion and prototyping is generally utilized in an assortment of industry ventures as a lightweight advancement method that could fulfil the alterations of necessities. Short cycles are utilized which can be required for proficient item delivery. In the paper, we become mindful of the impacts that the coordinated strategy has programming improvement strategies with prominence to decent inside the authoritative, efficient, and social system. Coordinated methods are not in every case great, they have a few restrictions too. In this paper, we likewise clarify the estimations of Agile, its points of interest, and its weaknesses.

COVID­19 and mental disorders: mechanisms of development and possibility of detection: a review

Objective — to find the mainCOVID-19-associated psychiatric disorders and mechanisms of their development basing on the literature analysis.&#x0D; Materials and methods. 112 literature sources from the PubMed database for the queries «Covid AND mental health», «Covid AND mental disorders» were analyzed and 36 of them were selected for detailed study.&#x0D; Results and discussion. It were found that patients with COVID-19 often have multiple neurological and mental disorders, such as agitation (69 %), signs of damage to the corticospinal tract (67 %), confusion (65 %) and neuropsychological disorders (33 %). Among the mental disorders that are observed after a coronavirus disease, the most common are insomnia (42 %), decreased concentration and attention (38 %), anxiety (36 %), memory disorders (34 %), depression (33 %), confusion (28 %) and other disorders of consciousness (21 %). The most vulnerable contingents of the population are children, adolescents and the elderly, who suffer not only from the disease itself, but also from the consequences of isolation. Special attention should be paid to healthcare professionals, who often have anxiety (12—20 %), depression (15—25 %), insomnia (8 %) and post-traumatic stress disorder (35—49 %).&#x0D; Conclusions. The COVID-19 pandemic has already profoundly strongly influenced the mental health of the population. This was especially reflected in such groups of the population as patients with psychiatric pathology, medical workers, the elderly and people in difficult financial situations. Given the potential for new waves of COVID-19 disease and increased quarantine restrictions, as well as the possibility of new epidemics in the future, it is important to make clear guidelines that will help mitigate the impact of the pandemic crisis and restrictive measures and prevent massive mental health deterioration.

Exploring the link between project delays and cancelation rates in the U.S. rooftop solar industry

About 1 in 10 rooftop solar photovoltaic (PV) customers who sign a contract to install a PV system cancel their contract before the system is installed. Although some cancelation risk is inherent in the solar industry, there may be ways to reduce cancelation volume, such as reducing project delays. Delays can occur at each stage of PV adoption processes, which take several weeks to months from contract signature to system operation. Using data from a recent survey of PV installers, we explore the factors that explain PV project delays and cancelations. The survey data suggest that PV adoptions take about 16 weeks, on average, from contract signature until system operation. Survey respondents consistently identified permitting, inspection, and interconnection (PII) processes as key drivers of project delays. Most respondents then suggested these PII-related delays increase contract cancelations. However, larger-scale installers report higher cancelation rates, and these installers rank changes in customer financial situations higher than PII-related delays as the main cause for cancelations. Most respondents also reported avoiding jurisdictions with particularly onerous PII requirements or charging more in these jurisdictions. On balance, the results provide a rationale for measures to streamline PII processes to reduce delays and potentially mitigate cancelation risk.

The everyday life situation of caregivers to family members who have had a stroke and received the rehabilitation intervention F@ce in Uganda

BackgroundStroke is increasing in Africa and consequences such as limitations in the performance of activities in everyday life persist a long time. A family member might need to care for and assist the person who has had a stroke. The life situation of these caregivers thereby changes, which could lead to increased workload and new responsibilities in caring for which they lack but request knowledge. During the F@ce rehabilitation program, the caregivers received counseling, which is uncommon in the African context. The aim of the study was twofold; (1) to investigate the perceived caregiver burden and life satisfaction and, (2) to explore and describe the life situation for caregivers to persons that have had a stroke and received the mobile phone supported rehabilitation F@ce in urban areas in Uganda.MethodA mixed method design was used. Twelve caregivers took part in a semi-structured interview regarding their everyday life situation and responded to questionnaires on caregiver burden and life satisfaction. Latent qualitative content analysis was used to analyse the interviews.ResultsFive categories were identified in the caregivers’ experiences of their life situation: Feels obligated but is just a natural commitment; a tightly scheduled everyday life; being the supporting relative; the caregivers´ approach as rehabilitators; and being supported by the rehabilitation intervention. The caregivers rated relatively high on the Caregiver Burden Scale and two thirds of the sample rated their satisfaction with life as a whole as dissatisfying. Further ratings on the Life Satisfaction checklist revealed that the financial, vocational, leisure and family situations were dissatisfying.ConclusionsEven if it was viewed as a natural commitment to be a caregiver when a family member had had a stroke, the life situation changed substantially for those who took on the caregiving role. Caregiving responsibilities were challenging as well as a heavy workload and a strained financial situation as many were giving up on jobs. The participants felt burdened and rated a low life satisfaction. The F@ce intervention was, however, expressed as valued and involved support and advice in their caregiving situation as well as information on stroke which relieved stress among them.

Evaluation of the Macro- and Micro-Economic Factors Affecting the Financial Energy of Households

This paper is an evaluation of the common macro-economic, micro-economic, and social factors affecting households’ financial situations. Moreover, the author’s objective was to develop a fuzzy logic model for forecasting fluctuations in the number of nonperforming consumer loans in a country using the example of Poland. This study represents one of the first attempts in the global literature to develop such a forecasting model based on macro-economic factors. The findings confirm the usefulness of the proposed innovative approach to forecasting the volume of household insolvencies in a country.

Changes in the Global Shipbuilding Industry on the Examples of Selected States Worldwide in the 21st Century

Purpose: The paper aims at analysing the changes in the shipbuilding industry and the decisions of various states seeking to increase the competitiveness of Asian and European shipyards in the 21st century, the impact of the COVID-19 pandemic on the portfolio of shipbuilding orders in 2020. Design/Methodology/Approach: The method of decision analysis makes it possible to identify the causes and effects of decisions made by governments and the management of shipbuilding groups. The comparative method is used to compare the changes taking place in the European and Asian shipbuilding industries. The statistical method is used to illustrate the dynamics of the economic and financial situations of shipyards. Findings: Shipyards operate on a competitive world market which experiences cyclical fluctuations in demand for ships. The dominant position of East Asian shipyards in the world market in the 21st century is the result of state subsidies, low labor costs, and the establishment of shipbuilding groups. In 2020, due to the COVID-19 pandemic, shipowners reduced orders for ships in the wake of a decline in demand for sea transport. The pandemic crisis hit shipyards in Europe specializing in the construction of cruise ships hardest. Practical implications: The European Union should adopt solutions that will allow European shipyards to maintain their leading position in constructing complex, technologically advanced ships. To survive the difficult situation on the shipping market, the European shipbuilding industry should use its shipbuilding potential in the field of ship repairs and offshore wind energy better. Originality/value: The research conducted made it possible to present the differences between the European and Asian shipbuilding markets and compare the outcomes of decisions made by various states faced by the financial crisis of shipyards.