Financial Turnover Research Articles

THE ROLE OF INVESTMENT LAG IN ECONOMIC SYSTEM DEVELOPMENT TRAJECTORY

THE ROLE OF INVESTMENT LAG IN ECONOMIC SYSTEM DEVELOPMENT TRAJECTORY

Explaining the Structural Model of Factors Influencing the Retention and Maintenance of Human Capital Based on Organizational Productivity

Objective: An organization demands its employees to possess the maximum potential benefits and expects them to meet organizational needs. Therefore, in a new perspective, the creation of an appropriate environment for the retention and maintenance of human capital and its connection to increased organizational productivity has been introduced as an important step towards the realization and achievement of objectives, including organizational productivity. The aim of this paper is to explain the structural model of factors effective in retaining and maintaining human capital based on organizational productivity in the National Iranian Oil Company. Methodology: The research method was descriptive-survey, and the statistical population consisted of senior managers and deputies in the human resources domain from the National Iranian Oil Company in headquarters and field staff (582 individuals), of whom 235 were selected as the sample using Cochran's formula. Interviews and questionnaires were used as data collection tools, validated through content and construct validity, and reliability was established using Cronbach's alpha coefficient. For data analysis, statistical methods and tests such as Pearson correlation coefficient, single variable t-test, Kolmogorov-Smirnov test, exploratory and confirmatory factor analysis were used, employing SPSS and LISREL software. Findings: The results indicate that the investigation into creating an appropriate environment for retaining and maintaining human capital and increasing organizational productivity involves individual factors, organizational factors, and group factors, each including components that significantly impact the productivity of the organization at the National Iranian Oil Company. The research also showed that retaining and maintaining human capital is key to improving and increasing organizational productivity, with the most influential components on productivity in the National Iranian Oil Company being organizational factors—performance management (efficiency and effectiveness) with an impact of 0.85, merit selection with an impact of 0.83, intellectual capital smartization with an impact of 0.80, talent management with an impact of 0.80, and individual factors—ability and knowledge with an impact of 0.79. Conclusion: A comprehensive human resource retention program can play a vital role both in attracting and retaining key employees and in financial turnover and other human resource costs. These factors significantly aid organizational productivity and overall business performance. It is far more efficient to retain a competent employee than to hire, train, and guide a replacement with similar capabilities.

The water-energy-food-ecosystem nexus in the Danube River Basin: Exploring scenarios and implications of maize irrigation

The Water-Energy-Food-Ecosystem (WEFE) nexus concept postulates that water, energy production, agriculture and ecosystems are closely interlinked. In transboundary river basins, different sectors and countries compete for shared water resources. In the Danube River Basin (DRB), possible expansion of agricultural irrigation is expected to intensify water competition in the WEFE nexus, however, trade-offs have not yet been quantified. Here, we quantified trade-offs between agriculture, hydropower and (aquatic) ecosystems in the DRB resulting from maize irrigation when irrigation water was withdrawn from rivers. Using the process-based hydro-agroecological model PROMET, we simulated three maize scenarios for the period 2011–2020: (i) rainfed; (ii) irrigated near rivers without considering environmental flow requirements (EFRs); (iii) irrigated near rivers with water abstractions complying with EFRs. Maize yield and water use efficiency (WUE) increased by 101–125 % and 29–34 % under irrigation compared to rainfed cultivation. Irrigation water withdrawals from rivers resulted in moderate to severe discharge reductions and, without consideration of EFRs, to substantial EFR infringements. Annual hydropower production decreased by 1.0–1.9 % due to discharge reductions. However, the financial turnover increase in agriculture (5.8–7.2 billion €/a) was two orders of magnitude larger than the financial turnover decrease in hydropower (23.9–47.8 million €/a), making water more profitable in agriculture. Irrigation WUE was highest for EFR-compliant irrigation, indicating that maintaining EFRs is economically beneficial and that improving WUE is key to attenuating nexus water competition. Current maize production could be met on the most productive 35–41 % of current maize cropland under irrigation, allowing 59–65 % to be returned to nature without loss of production. Maize priority areas were on fertile lowlands near major rivers, while biodiversity priority areas were on marginal cropland of highest biodiversity intactness. Our quantitative trade-off analysis can help identifying science-based pathways for sustainable WEFE nexus management in the DRB, also in light of climate change.

Оценки потребности в оборотном капитале при инвестициях в развитие здравоохранения

The spread of medical technologies underpins the transition to the next global economic mode and requires large-scale investments in health sector. To substantiate them, certain methods of making investment decisions which corresponds to a new stage of scientific and technological development are required. This paper proposes the methods of investment projects evaluation based on the cost and benefit analysis, that measures both costs and benefits in monetary terms, taking into account these approaches. On the one hand, economic (public) efficiency is determined with the social effects along with other public effects being highlighted. On the other hand, financial (commercial) efficiency is calculated with a detailed presentation of investment in working capital and terminal value. In applied project analysis, working capital is either not taken into account, or simplified methods are preferred. The paper focuses on the issues of modeling investments in the growth of net working capital. A comparative analysis of working capital modeling methods in the financial models of various international organizations (UNIDO, World Bank, Asian Development Bank) and official Russian methods is carried out. Also, the author's modified method for calculating investments in working capital based on separate financial turnover and liquidity ratios is proposed, which allows taking into account industry specifics of health projects. The system of the proposed methods was tested on the example of a real project of the construction of seven urban outpatient hospitals in Novosibirsk. The results of the financial analysis with three options of working capital accounting and the economic analysis with the presentation of social, tax and redistributive effects of working capital clearly show the impact of assessing working capital requirement on the results of not only financial, but also economic efficiency, including the efficiency of participation in the project. In the frame of the economic analysis, substantial social effects for patients of new outpatient hospitals and other residents of the Novosibirsk Region were highlighted, while in the frame of financial analysis, significant effects of working capital and terminal cost for direct project participants were identified.

Perancangan Aplikasi Penganalisis Kesehatan Keuangan Menggunakan Metode RGEC untuk Bank Umum Syariah

The growing digital world makes the basis of this research to lead to the world of Financial-Technology increasingly. Through this application, the aim is to be able to analyze the soundness of Islamic Commercial Banks so that the public, especially customers, investors, and scholars who understand the world of banking, see a comparison of the soundness of banks so that they can assess which banks are operating well through their financial turnover and which are not. This application does not only see comparisons in terms of financial performance through ratios, Composite Ratings, and Categories that are raised based on the applicable OJK Regulations, but also can bring up the ranking of each financial ratio, scoring bank values, and also rankings to see which bank The best general Shariah from the inputted data. Based on the process, the FinT application successfully runs according to the purpose of this research.

PROSPECTS FOR THE USE OF GOLD DIGITAL MONEY IN THE RUSSIAN FEDERATION

The article is aimed at analyzing the main problems of introducing gold digital money into the country's economy, into the financial turnover of the state's gold reserves, provided that the gold reserves of the Central Bank of the Russian Federation are preserved and multiplied.

Success Factors for Product Development and New Product Launch Projects

The paper discusses the success factors influencing product development design and product launch projects. The lives of people and businesses have been threatened and affected by the global COVID-19 pandemic for more than two years. Knowing these factors can help us make the right decisions and develop an effective project plan and matrix. Nowadays, project management is a very important part of work in companies of different sizes. Project management can be seen as applying innovation processes in an enterprise. The authors conducted quantitative and qualitative research on 544 companies in the Slovak Republic. The research focuses on aspects of project management and individual success factors. The data obtained by the questionnaire survey were processed by statistical methods, where the authors chose the nonparametric Kruskal-Wallis test as the basic method and the Wilcoxon two-tailed test for independent sample data sets. An essential variable in the sample of enterprises surveyed was, in particular, the sector of the economy in which the enterprise surveyed operates. Two key factors were considered when developing the product – employee education and the implication of social responsibility. The study’s uniqueness lies in surveying all types of enterprises, irrespective of their size, line of business, and financial turnover. The percentage distribution of the maximum use of CSR among the surveyed companies in each sector was most positive in the Logistics industry. Training and certification of employees are primarily one of the most important factors to ensure an increase in the success of those projects aimed at launching new products on the market; in the case of the surveyed sample, this is more than 40% of enterprises. Based on the sub-results, we can conclude that enterprises place more emphasis on new product development projects and the environmental concept of CSR. Still, the launch of new products or services is underestimated by the project management of enterprises. After more than eight years, the research has shown an increase in the importance of using social responsibility in management processes for new product development. A breakthrough finding is comparing the use of CSR in small businesses in Slovakia to global trends in which we perceive the dominance of multinational corporations. Enterprises are advised to focus specifically on new product launches and detailed planning.

Modelling approaches to innovative activities of timber enterprises based on regression analysis

The article presents the results of modelling approaches to the implementation of effective innovation. Within the framework of a collinear system of regression-correlation equations, a block diagram of the implementation of innovative activities of timber enterprises is presented, reflecting the possibility of increasing the level of innovativeness of timber enterprises. The study determined the necessary data array for building the proposed model. The presented model is based on financial and statistical indicators that characterize the level of innovative development of the timber industry enterprises of the Russian Federation, as well as taking into account their financial turnover throughout the industry for 2017-2022, and in the context of the development of small and medium-sized businesses. An important indicator was the level of funding for business projects on the use and implementation of information and communication technologies (ICT). The model also takes into account the influence of a group of various factors on the indicators of innovative development. As part of the regression and correlation analysis, each indicator was assigned its own value xi and xj. The results of the regression analysis data correlation are interpreted in two main blocks, general for the industry, and reflecting the dependence of the influence of small and medium-sized businesses on the innovative development of timber enterprises.

Scientific Publishing in Biomedicine: A Brief History of Scientific Journals.

Scientific publishing, with about 350-year historical background, has played a central role in advancing science by disseminating new findings, generalizing accepted theories, and sharing novel ideas. The number of scientific journals has exponentially grown from 10 at the end of the 17th century to 100,000 at the end of the 20th century. The publishing landscape has dramatically changed over time from printed journals to online publishing. Although scientific publishing was initially non-commercial, it has become a profitable industry with a significant global financial turnover, reaching $28 billion in annual revenue before the COVID-19 pandemic. However, scientific publishing has encountered several challenges and is suffering from unethical practices and some negative phenomena, like publish-or-perish, driven by the need to survive or get a promotion in academia. Developing a global landscape with collaborative non-commercial journals and platforms is a primary proposed model for the future of scientific publishing. Here, we provide a brief history of the foundation and development of scientific journals and their evolution over time. Furthermore, current challenges and future perspectives of scientific publishing are discussed.

The Recruiting Process of Human Capital in SMEs in Kosovo

Based on survey data conducted with SMEs in Kosovo, this study investigates the recruitment practices of SMEs in Kosovo. In general, our findings suggest that with an increase in financial turnover, there is an increase in the importance of human resource management. More specifically, we have found that SMEs in Kosovo make departments for human resource management functional when they are financially sound. Moreover, our findings suggest that SMEs with a higher number of employees tend to recruit more internally as compared to external recruitment. And finally, findings suggest a form of homogeneity between the sectors for the use of the form of recruitment; consequently, businesses in different sectors have no differences in their recruitment strategy.

FEATURES OF ENTERPRISE ECONOMIC SECURITY MANAGEMENT

In the conditions of modern economic development, the role and importance of economic security of the enterprise is increasing. The changes in the contemporary economy are characterized by a significantly high share of crisis factors and an unbalanced political environment, reinforcing a high percentage of business criminalization. In many of these facts, it is more important than ever to competently study and improve approaches to maintaining the economic security of the enterprise’s economic activity. Absolutely any entrepreneurial activity is associated with unforeseen threats and risks. This circumstance requires business structures to have a specific activity management policy to increase economic security. The financial security of an enterprise can be defined as a state in which it can sovereignly, without interference and pressure from outside, determine the ways and forms of its economic development. The category of economic security is closely related to the categories of economic stability and independence. The object of economic security at the enterprise level is the financial turnover of costs and revenues, goods (works, services), and resources. It is impossible to create a universal system of economic security in practice since each enterprise acts according to its standards and takes its place in the market of goods and services. To effectively ensure economic security, the enterprise needs to define a management algorithm that would allow for a timely assessment of risks and to determine the vector of further management decisions. The actual formation and functioning of the mechanism for ensuring the economic security of the enterprise represent a complex process of interaction and mutual influence of the components. Therefore, the exchange and mutual influence of the elements are carried out by many combinations of different configurations of these variables. The formation of the mechanism is ensured by making management decisions, forming unified information fields, conducting analytical and forecasting work, performing several economic calculations, and evaluating their results. All actions are carried out internally to ensure the enterprise’s economic security. Keywords: security, enterprise, economy, management, threats.

An Analysis of Factors for Increase in Financial Turnover Gap Between Construction Companies Established During Same Time Period in KSA

This research investigates and evaluates various management-related factors influencing the Saudi Arabian construction companies that are responsible for the increase in the financial turnover gap between construction companies established during the same time period in KSA and tries to determine if the corporate management team or the site management team has a significant effect on the overall performance and success of construction companies. The study has made use of quantitative research methods with a deduction approach. This research is conducted by using a web-based survey questionnaire targeted at the sample size of 400 professionals from all regions of Saudi Arabia including all demographic levels. As per the results, the highest RII scorings of the success/failure factors related to the corporate management (Payment delay, Poor cost estimation, Weakness of the financial and technical capabilities of some contractors, and Delays in decision making by the management team) revealed the importance of corporate management issues that are responsible for the increase in financial turnover gap. The results obtained from the research would provide insight to companies for better identification of issues that may be facing the organization and therefore, helpful in the formation of policies that may benefit the organization to reduce the financial turnover gap between them. This is the first research that covers all five major grading areas: Roads, Water and sanitation work, Buildings, Electrical work, and Mechanical work with grade I, II & III classified contractors including all thirteen provinces of Saudi Arabia. The literature review revealed that none of the previous research covered grading areas and demography.

Peramalan Permintaan Pada Toko Mainan Prima Acc & Toys Menggunakan Metode Simple Moving Average

Sales success is seen from the sales strategy. As an entrepreneur in the field of sales, you must be able to take decisive steps in the field of sales in maximizing benefits. The demand for an item is unpredictable, so intuition and experience alone are not enough to determine the inventory of each item to be sold. If you only rely on intuition and experience, and all items are not sold, it will cause waste and losses, but if the turnover of goods is fast and inventory is not on time, it will affect the financial turnover of the store. The application of the Simple Moving Average method at the Prima Acc store can help store owners to be more efficient in incoming and outgoing goods so that losses that may occur at the Prima Acc store can be avoided because store owners already know the forecast demand for goods in the future. The author suggests that the choice of forecasting demand for this process uses the 3 month moving average method with 38 predictions. The estimated error accuracy of MAE is 9.63 and MSE is 123.51.

КЛАСТЕРНИЙ АНАЛІЗ ЕЛЕМЕНТІВ БІЗНЕС-МОДЕЛЕЙ ІТ-ПІДПРИЄМСТВ УКРАЇНИ

The article analyzes the elements of business models of Ukrainian IT companies in the context of the digital services recipients' value development with. The results of data clustering in the following directions are gathered and analyzed: the range of industries; range of services provided by enterprises; scale of enterprises; share of customer base by categories of financial turnover. Clustering is performed by the k-means method, the optimal number of clusters is determined by the methods elbow and silhouette. All selected categories were divided into five clusters. The centroids of clusters were determined and the analysis of companies close to centroids in all the indicated directions was carried out. Clustering by indicators of the percentage of types of provided services and the percentage of industries was carried out with the inclusion of the value of variance. Thus, clustering reflects not only the proximity of enterprises in the predominance of certain types of services or sectors of the economy, but also the breadth of the range of services covered and the diversity of the customer base. Groups of enterprises close to these elements of business models were formed and a comparative analysis of companies affiliation to clusters by categories was conducted. The enterprises from the formed groups are analyzed taking into account the declared cost of an hour of work and the share of the customer base by categories of financial turnover. Regularities have been established between the share of the company's employees registered in Ukraine, the share of the customer base by categories of financial turnover and the average hourly labour costs, as well as the advantages in providing certain types of services. It is concluded that hourly labour costs are significantly lower and the predominance in the client base of small and medium-sized businesses in medium and small enterprises with a high proportion of Ukrainian team members. The results of the study can be useful for adjusting the business models of IT companies, as well as to justify the negative consequences of possible changes in the existing legal relations in Ukraine between employees and employers in the field of IT.

HOW DOES SERVANT LEADERSHIP INCREASE THE COMPETITIVENESS OF STARTUP TEAMS? THE MEDIATING ROLE OF EMPLOYEES’ SELF-EFFICACY

Purpose—The purpose of this study is to examine the effect of servant leadership on competitiveness of startups. Also, the role of self-efficacy as a mediator between servant leadership and competitiveness has been explored.Design/methodology/approach—Servant leadership, competitiveness and self-efficacy were evaluated in an empirical study based on a sample of 220 employees of Iranian start-up companies.The data analysis was performed through a two-stage partial least squares structural equation modeling technique. In the first stage, the measurement models were examined in terms of construct validity and reliability, while in the second stage, the structural model and research hypotheses were tested.Findings—The results demonstrated that servant leadership positively affects competitiveness. Also, as expected, self-efficacy act as a mediating variable between servant leadership and competitiveness.Practical implications—Start-ups nowadays constitute a large portion of countries’ financial turnover and economy. Considering the sharp increase in competitiveness and instability in the market, start-ups with transformational leadership are more likely to succeed. However, other styles, such as servant leadership, could play an essential role in guiding these startup companies on the way of competitiveness by strengthening employees’ empowerment and self-efficacy.Originality/value—It is believed that the important contribution of this study is demonstrating the effects of servant leadership on competitiveness of startups. Also, the mediating role of self-efficacy in this relationship has been strongly confirmed.

An Analysis of Factors for Increase in Financial Turnover Gap between Construction Companies Established During Same Time Period in KSA

An Analysis of Factors for Increase in Financial Turnover Gap between Construction Companies Established During Same Time Period in KSA

Business Models of Social Enterprises: Insight into Key Components and Value Creation

The increasing pressure on people to do something for society, in combination with the need for financial turnover in order to survive, is seen as one of the dominant factors for the rise of social enterprises. However, there is still debate on how social enterprises create social value in addition to economic value and how this is reflected in the business model. In this case study research, we investigate how the key components of the business model of social enterprises contribute to the creation of social and economic value. The cases in this research create social and economic value through the mutually interacting operation of key components and their sub-components. This interacting effect focuses on the one hand on the alignment of the internal architecture, market and financial management with the mission. The mission statement serves as a guiding principle. Furthermore, realizing the highest possible profit is not a goal in itself for social entrepreneurs. Generating profit serves the continuity of the company and the realization of social value. We also found that social enterprises can be configured as either market hybrids, blending hybrids, bridging hybrids or coupling hybrids.

Let Us Let the Spectators Back in!

: COVID-19 has stricken the world since the beginning of 2020. The pandemic is not controlled yet, and also the new variants of the virus are rapidly spreading. To reduce the virus's person-to-person transmission rate, health authorities and the government applied limitations to all activities (including sports activities). As a result, all football matches and team training worldwide were suspended for a limited period until a reduced infection risk was recognized. Even though training and competitions were gradually resuming worldwide, no spectators were allowed to attend any matches. After the successful experience of resuming football matches and tournaments following tight restrictions in keeping the players, staff, and organizers safe, it is time to let the spectators back in the stadiums and establish the needed guidelines. This commentary will highlight the most important aspects and issues that need to be addressed if the football federation and associations decide to let the spectators back into the stadiums, as football will lose its enthusiasm and financial turnover.

Integration of blockchain technology into the state order management system

The state order management system, which was reformed in 2013, despite constant modernization with endless legislative patches, continues to be a cumbersome bureaucratic monster, unable to cope with the ever-increasing volume of tasks. In the modern technically developed world, solving discrete distribution problems through protocol commissions and paper reports is an atavism like bone abacus in the space flight control center. One of the tools for the development of digital management of the state order system is the integration of a new form of monetary circulation into the state economy – by means of a centralized register based on blockchain technology. The purpose of this research is to form a model for integrating digital financial assets into the system of ensuring state needs. An integral process of such integration should be the digital blockchain algorithm, expressed in smart contracts and provided with financial exchange processes through digital financial assets (digital ruble in the proposed case). The way proposed by the author of the study for the introduction of a system of centralized registers supporting the financial turnover of the digital ruble into the domestic financial infrastructure is a direct embodiment of the state's policy on digitalization of state processes. The paper reveals shortcomings of the existing domestic legislation regarding the regulation of the management processes of the state order system. The concept of "digital financial assets", "digital ruble" is disclosed. An effective method is proposed to prevent the formation of economic risk factors through the corruption component in the execution of government contracts.

INFORMATION FLOW REGARDING INVOICES AND OUTSTANDING BENEFICIARIES IN AN “ACCESS” APPLICATION

The importance and actuality of the theme are yielded by the increase in the complexity of actions undergone by the economic agents in the context of the development and diversification information instruments aimed at observing the invoice collection pattern and the calculation of work productivity used to manage economic, social and institutional variables in view of fulfilling the organizational objectives. All these evolutions force to re-imagine the strategic role of the information softwares at the organizational level. Together with the human resource they are considered the main competitive advantage modern organizations benefit from. This work consists of the methodology and sequential algorithm to create an information app which can be used to track outstanding invoices by any economic agent. The conclusions drawn from this work emphasize the importance of a proper use of the designed app in the tracking and collection activity in regard to outstanding invoices, generating improvements of the financial flows and turnover increase.