Joint Stock Companies Research Articles

The effects of the public joint stock companies’ conversion on partners and creditors of the company "A comparative study between the Emirati and the Jordanian laws"

Purpose – This paper aims to investigates the concept of conversion and will discuss the effects of conversion on the partners and the company's creditors without discussing the effects of conversion for the converted company. Design/methodology/approach – This article compares two jurisdictions in middle east – United Arab Emirates, and Jordan. To find out how both jurisdictions have dealt with the effects of the public joint stock companies’ conversion on partners and creditors of the company. Findings – The article reached a set of findings, for example, it is not permissible for the transferred company to dissociate itself from the contracts that it had concluded before the transfer. The UAE legislator has done well when it explicitly stated that the rights of the partners or shareholders may not be violated towards the shareholders and creditors of the transferred company, holders of loan, bonds, or sukuk, and any interested party. Originality/value – Previous studies have been based on one jurisdiction, other than this study, which compared two jurisdictions in the middle east. Also, this article examined the recent commercial companies law issued in the United Arab Emirates. In addition, this article focused on one type of company, which is the public joint stock company.

Organizational and economic aspects of managing financial policy, sustainable growth and development of the corporation

An attempt was made to develop recommendations on ways to optimize the organizational and economic mechanism of corporations, including the radio electronic industry. The study is a continuation of the work of Liberova A.A. and Tatarinets S.G. on the financial policy of organizations, sustainable economic growth and development of companies in the non-financial sector of the economy. Methods of decomposition and system analysis are applied in the evidentiary part of the study. The hypothesis is based on empirically identified functional features of corporate governance organizational structures by public and non-public joint stock companies. It is about the number, content of functions, authority, corporate responsibility of intra-corporate executive bodies: departments, offices, divisions. Public data is mostly obtained from the Interfax disclosure server. Interfax is an official analytical agency accredited by the Government and the Central Bank of Russia. According to the authors, the building of organizational and managerial structures significantly affects the results of the financial policy of the company and prospects for sustainable development. The authors formulated problems and gave recommendations on optimizing the organizational potential of the economic block for the phased implementation of the financial policy of a large company. Significant attention is paid to the relationship of the organizational mechanism to the success of financial policy in the field of financial planning. The hierarchical structure of organization of strategic planning with the purpose of optimization of financial policy of organizations is offered. The article analyses approaches to building the structure of organizational management of sustainable development. Some results of corporate movement towards sustainable development goals are shown.

РАБОЧИЕ БУДНИ УЛЬЯНОВСКОГО КОЖЕВЕННОГО КОМБИНАТА В 1970-е гг.

The article is based on the materials of the State Archive of the Modern History of the Ulyanovsk region and the State Archive of the Ulyanovsk region, which are introduced to the scientific world for the first time. The authors examine the history and organization of work at one of the light industry enterprises, the Ulyanovsk tannery plant. The main stories are devoted to the analysis of labor discipline, measures of material and moral incentives for workers. The authors pay attention to the scale of staff turnover and measures to reduce it, to suppress non-normative behavior, in particular alcoholism. A conclusion is drawn about the socio-economic importance of the enterprise for the regional economy during the Soviet period. The authors argue that the inherent potential and traditions of maintaining production made it possible to preserve the Ulyanovsk tannery plant in the changed conditions of the 1990s and the continue its activities as the Closed Joint Stock Company "Ulyanovsk Shoe Factory".

HUMAN CAPITAL INVESTMENT AND EMPLOYEES' INTENTION TO LEAVE THE ORGANIZATION: THE INTERMEDIATE ROLE OF HUMAN CAPITAL – A CASE STUDY AT DONG THAP WATER SUPPLY AND URBAN ENVIRONMENT JOINT STOCK COMPANY

Human Capital Investment plays a very important role in organizational development. With the goal of researching and diversifying perspectives on human capital investment in businesses. Research results show that Human Capital Investment has a positive impact on Human Capital; Human Capital positively affects Desirable of Movement, Easy of Movement; Desirable of Movement, Ease of Movement promotes Intention to leave the organization. Human capital plays an intermediary role in the relationship between Human Capital Investment and Desirable of Movement, Ease of Movement. Perceived organizational support is an important factor moderating the relationship between Desirable of Movement and Intention to Leave the Organization. From there, the study proposes some management implications to limit the intention to leave the organization of employees at Dong Thap Water Supply and Urban Environment Joint Stock Company (DOWASEN).

Анализ патентной и научной литературы в области гидроразрыва пласта

The article searches and analyzes patent and scientific literature in the field of application of hydraulic fracturing technologies. A review and analysis of publications from open sources is presented, in which articles and abstracts on technologies used during hydraulic fracturing were published. As a result, leading journals were identified that presented publications on applied hydraulic fracturing technologies. The leaders in the publication of articles related to hydraulic fracturing technologies are: Bulletin of Science, Exposition “Oil, Gas”. A search and analysis of patent documentation for hydraulic fracturing technologies that are directly used in the Russian Federation was also carried out. Patent analysis showed that the main patent holder for technologies used during hydraulic fracturing in the Russian Federation is the Public Joint Stock Company Tatneft named after V.D. Shashin. This analysis will allow us to assess the potential of solutions proposed by scientific and industrial teams in the field of hydraulic fracturing.

ИСПОЛЬЗОВАНИЕ ЭЛЕКТРОННЫХ ТОРГОВЫХ ПЛОЩАДОК ДЛЯ УВЕЛИЧЕНИЯ ОБЪЕМА СБЫТА ПРОДУКЦИИ РОССИЙСКИХ КОМПАНИЙ

The expediency of Russian manufacturers' participation in electronic auctions is due to the need to increase sales, expand business ties, and search for new partners, which is quite relevant in modern economic conditions. To study the impact of participation in electronic auctions on the performance of an individual company, a typical joint–stock company was chosen - a representative of a medium-sized business that produces products mainly for the needs of communications and medicine. At the same time, the most promising is the study of the activities of electronic trading platforms in Russia and Belarus, as the most accessible to Russian companies. It was on the example of these sites that proposals were considered in order to select orders for products corresponding to the nomenclature that the company chosen for the analysis could offer. An important issue in the study was the justification of the procedure for choosing contracts in which the company under study could win over competitors. To do this, the authors propose the following actions: after selecting the most promising sites, it is necessary to consider specific contracts involving the supply of products manufactured by this company, taking into account the possibilities of additional production; contracts with commercial attractiveness and economically justified in terms of the effectiveness of additional production and sale of the company's products are selected as preferred; The prices of the products offered in the contracts are compared with the prices at which the company could offer products, taking into account the cost of production. Based on the fact that a company offering products at prices lower than competitors' prices may not always win the competition, it seems advisable to study the probability of such victories, on the basis of which the number of contracts that this company can conclude is predicted. The results of the research conducted by the authors demonstrated that participation in electronic auctions contributes to achieving the desired goal, namely, the search for new partners, and the growth of sales volumes.

Analysis of the Sensitivity of the Corporation's Market Activity Indicators with a Neutral Approach to the Dividend Policy

Under the conditions of a modern developed market economy, a fairly important characteristic of the activities of a public joint stock company (PJSC) is its activity on the stock market (market activity). This involves the development of a dividend policy, which, on the one hand, should contribute to achieving the main goal of financial management - maximizing the material well-being of shareholders , and, on the other hand, take into account the interests of all other stakeholders interested in the activities of the PJSC (including potential investors) to ensure its sustainable development in the long term. Fulfillment of this requirement is possible only within the framework of a neutral approach to the dividend policy of the public joint stock company. In this regard, the purpose of the research is to study the market activity of a public joint stock company by analyzing the sensitivity of its most important indicators to their main determining factors under the conditions of a neutral approach to the implementation of dividend policy. The working hypothesis is to consider the possibility of using the relevant elasticity models as tools for analyzing the sensitivity of the most important indicators of market activity of PJSCs to their main determining factors under the conditions of a neutral approach to the implementation of dividend policy. The generated elasticity models of the most important indicators of market activity are expected to be used in forecasting and analytical assessments of changes in their values. In addition, they will make it possible to reveal the reasons for these changes by determining the influence on the elasticity data of the determining factors included in their models through appropriate methods and techniques of factor analysis with a neutral approach to the dividend policy of a public joint stock company. The author concludes that the elasticity models he developed for the most important indicators of the activity of a public joint stock company on the stock market are sufficiently effective to change their main determining factors as tools for managing the market activity of a public joint stock company with a neutral approach to its dividend policy.

An Application of the Scorecard Tool to Measure Corporate Governance Quality: Empirical Study in a transition country

Abstract Nowadays, the corporate governance quality (CGQ) of a company has become increasingly important as it is the benchmark for the investment decision-making process. However, there are not many studies of CGQ in the Vietnamese public sector. In this regard, this study adopted and adapted the Association of Southeast Asian Nations (ASEAN) corporate governance scorecard and the Vietnamese Listed Company Awards scorecard to evaluate the CGQ of state-owned enterprises (SOEs) in Vietnam. Data from 220 equitized SOEs were collected from a self-administered survey and double-checked with information from in-depth interviews with the company’s managers and their documents. Collected data were analyzed to score the CGQ of surveyed companies. Results showed that the CGQ of survey companies met the basic requirements that comply with the legal framework. The analysis also showed the differences between two groups of state-owned enterprises: listed versus unlisted joint-stock companies. Based on the findings, we suggested companies improve and adjust their governance policies following 77 scorecard criteria and apply international best practices in corporate governance to promote their brand value to become more appealing to investors.

Russian Joint-Stock Companies and Trading Houses in Manchuria From the Late 19th to the Early 20th Century

Russian trading firms had already been operating in southeastern China by the second half of the nineteenth century. The Russian government’s development policy for the Far East, which was strongly advocated by the then minister of finance Sergei Witte, prompted construction of the Siberian railway line, one trunk of which was the Chinese Eastern Railway (KVZD). This railroad was then instrumental in forming a free economic zone in Manchuria where Russia’s new economic model that supported entrepreneurship could be tested. However, the activities of the Russian colony in Manchuria were confined to the right of way of the KVZD and to certain cities of little commercial interest. As a result, the companies established to extract minerals and develop industry and trade remained relatively small in both their capitalization and financial results. However, economic development of this territory continued despite Russia’s defeat in the Russo-Japanese war and stopped only after the First World War began. The final blow came when Russian businessmen were forced to liquidate their businesses. The trading houses and companies owned by Russian entrepreneurs gradually became property of Chinese, Japanese and European owners. This article gives an account of the operations of Russian joint-stock companies and trading houses established in Manchuria at the end of the nineteenth century through the beginning of the twentieth and indicates the role those firms played in the development of the region. The research analyzed archival sources from the Russian State Historical Archive (RSHA) and statistical reference works along with preRevolutionary and modern scholarly literature.

Improved cotton fences for a sustainable approach to cotton cleaning

The article presents the results of research on the improvement of the grate to improve the efficiency of cleaning cotton gins from major contaminants. To achieve the goals of increasing efficiency, the existing technologies for cleaning raw cotton and the equipment used were analyzed. In the studies, industrial varieties of raw cotton, the most common in the region, were chosen as raw materials. Cotton I-technical grade was used with a soiling level of 6.6% and a moisture content of 8.2%. By attaching the cotton wool to the saw drum, one can increase the distance between the posts by increasing the distance between the strings by moving the first post down a distance L to make sure it also goes to the lower drum of the saw in the access path. In the experiments, the distance between the first column and the second column was set equal to 40 mm, 50 mm, 60 mm and 70 mm, and the distribution of sawdust in the drums was studied taking into account the amount of cotton transported. The main attention during the experimental studies was directed to the location of the grates relative to the saw cylinder and the distance between the grates. For experimental studies, laboratory equipment was manufactured and carried out in the conditions of the Joint-Stock Company “Scientific Center of the Cotton Industry”. As a result, with the improvement of the location of the grate on the grate, the cleaning efficiency was 42.6%, and the number of pieces of cotton in the waste was 5.2%, as indicated in the technological description of the unit, the number of grates increased by one unit.

Специфика кадрового комплектования советского акционерного общества «Висмут»: материалы переписки аппарата Первого главного управления при Совете министров СССР и парторганизаций Свердловского обкома ВКП(б) в 1949 г.

The publication introduces into scientific use correspondence of the deputy head of the First Main Directorate (PGU, executing agency of the Soviet nuclear project) under the Council of Ministers of the USSR P. Ya. Meshik with the party organizations of the Sverdlovsk Regional Committee of the AUCP (B) on the issue of recruitment for work abroad. The analysis of references to the resolutions of the Council of Ministers known to researchers establishes that the Soviet Joint-Stock Company “Wismut” located in Germany recruited mining engineers and specialists in the field of geological exploration. Its subordinates were engaged in search and development of uranium deposits in the Soviet zone of occupation of Germany. A raw material base for extraction and processing of uranium-containing ores was formed for implementation of the Soviet nuclear weapons program in the second half of the 1940s. For reasons of state secrecy, researchers are still significantly limited in access to archival documents on the history of the nuclear project. Thus, introduction into scientific use of new historical sources related to the project implementation already seems sufficiently relevant and high-demand scientific task. In this case, it is a selection of five documents deposited in the materials of the Sverdlovsk City Committee of the AUCP (B) Documentation Center of Public Organizations of the Sverdlovsk Region associated with the mass recruitment of mining and exploration workers entrusted to the Sverdlovsk Regional Committee of the AUCP (B) in spring of 1949 in the interests of the nuclear project. At the direction of the Regional Committee (obkom), the Sverdlovsk City Committee selected a number of necessary specialists, and the First Main Directorate began their registration for work abroad. In the autumn of 1949, a request came from the PGU about expediency of such transfer for one of the selected specialists. Doubts were caused by minor flaws indicated in his generally positive characteristic. Responding to the request, the city committee withdrew its decision. The introduction of the identified documents collection into scientific use is due to two reasons. Firstly, at the grassroots stage, it fixes the recruitment system for the Soviet nuclear project, which has been little studied up to date. Secondly, on a hypothetical level, it can be considered an illustration of a mechanism of evasion from mobilization into the atomic project system, which frightened many specialists with its obscurity.

The Construction of the Revolutionary Year of 1917: The First Russian Sulphate Pulp Plant

During the First World War in Russia, along with mobilization and evacuation, the construction of industrial enterprises was carried out. The study of this problem will allow us to understand how decisions were made on the construction of new production facilities in the deteriorating socio-economic situation, how the construction was carried out and how it depended on the course of the revolutionary process in the country. Using the example of the joint-stock company of the Nikolay-Pavdinsky mountain district, it is shown how the project of constructing the country’s first sulphate pulp plant was implemented in the Northern Urals. The development of the forest industry in the mountainous district began at the beginning of the 20th century, on the eve of the First World War, a paper mill was built near the Lyalya station, its expansion was planned for several years. The stimulating factor was also the growth of the needs of the population and industry for paper due to the loss of a number of western regions of the empire. The receipt by the joint-stock company of solid revenue in the 1915/1916 operating year allowed it to begin the practical implementation of the project, hoping to put the enterprise into operation in 1918. In the spring of 1917, the firm “A. V. Bolotnikov & Co” began its construction. It was revealed that sometimes conflict situations arose between the contractor and the management of the mountain district. A positive role in their solution was played by the experience of A. V. Bolotnikov and the actions of the district leaders. In autumn, most of the construction work was completed, but the change of government, the sharp deterioration of the transport and financial situation did not allow the company to be equipped.

Statutory Audit of Joint-Stock Companies with a Special Reference to a Statutory Audit Agreement - Some Open Issues

Zakonska revizija kod društava kapitala jedan je od ključnih pravnih mehanizama kontrole zakonitosti poslovanja društava kapitala. Temeljni je cilj zakonske revizije osigurati objektivan, nepristran i stručan nadzor nad radom društva i uprave društva kako bi se utvrdilo je li poslovanje društva bilo u skladu sa zakonom, statutom i drugim aktima društva. Kako bi se potonji cilj i ostvario te kako bi se osigurala maksimalna objektivnost i transparentnost zakonske revizije Zakon o trgovačkim društvima predviđa da revizore društva imenuje glavna skupština društva ili eventualno sud. Imenovani revizori sklapaju s revidiranim društvom ugovor o (zakonskoj) reviziji godišnjih financijskih izvještaja. Ugovor osim uobičajenih odredbi koje su karakteristične za bilo koji drugi ugovor, obuhvaća niz specifičnih ugovornih odredbi, kao što su odredbe o trenutku sklapanja ugovora, raskidu ugovora, obvezama uprave u postupku revizije i sl. Uz navedeno, Zakon o reviziji propisuje i niz zabrana i ograničenja koja ugovor o reviziji ne smije sadržavati. Općenito gledajući riječ je o vrlo specifičnoj pravnoj materiji koja je regulirana većim brojem domaćih i međunarodnih propisa, a koja je u domaćoj doktrini selektivno i slabo obrađena. Slijedom navedenog, u radu će se provesti komparativna analiza pravnih rješenja u svezi s odabirom i imenovanjem revizora godišnjih financijskih izvještaja, kao i specifičnih pravila ugovora o zakonskoj reviziji koja propisuje Zakon o reviziji, Direktiva 2006/43/EZ te pravila austrijskog UGB-a i njemačkoga HGB-a. Provedenom analizom upozorit će se na ključne prijepore koji se javljaju i u kontekstu imenovanja revizora revizije godišnjih financijskih izvještaja i u pogledu ugovora o zakonskoj reviziji.

Technology of obtaining micronutrient fertilizers based on micronutrient secondary raw materials of the industry

The article presents the research results of obtaining nitrogenphosphorus- calcium-microelement fertilizers by adding suspensions obtained by activating phosphorite with microelement industrial waste in different proportions to the superphosphate mass formed by decomposition of Central Kyzylkum phosphorite flour at different rates of sulfuric acid in laboratory conditions. Experiments were carried out with low-quality phosphorite flour, non-enriched phosphorite flour and washed-burned (thermoconcentrate) phosphorite concentrates (UzDSt 2825:2014) obtained on the basis of phosphorites of the Central Kyzylkum. Also, in order to obtain superphosphate fertilizers with microelements, secondary raw materials with acidic microelements of the РН environment formed during molybdenum processing of Almalyk mining and metallurgical combine joint-stock company were used. Studies have shown that under the influence of micronutrients (copper, zinc, molybdenum, etc.), important physiological and biochemical processes can be controlled, thereby increasing the yield and quality of agricultural products. The use of microelements together with basic fertilizers is an effective and economically important (convenient) agrochemical method. The purpose of the research is to implement new types of phosphoric fertilizers based on incomplete standards of mineral fertilizers and acids, which are widely used in agriculture, or their salt mixtures, using trace element salts and secondary raw materials containing trace elements of hydrometallurgy.

Veto Rights of the Directors Designated by a Shareholder Group in Joint Stock Companies

Anonim şirketlerde farklı pay sahibi grupları arasında güç dengesinin kurulması adına, bu grupların tamamına veya bir bölümüne yönetimde temsil hakları verilebilmektedir. Türk Ticaret Kanunu m. 360/1 uyarınca pay sahibi gruplarına tanınan yönetim kurulunda belirli sayıda üyeyi aday gösterme hakkı, yönetime katılma haklarının başlıca görünümünü olusturmaktadır. Ancak bu hak, aday gösterilecek yönetim kurulu üyelerinin sayısına ve nisaplara bağlı olarak her zaman kurul kararlarının alınması sürecini doğrudan etkileme gücü vermeyebilir. Belirli pay sahibi gruplarına söz konusu gücü vermek için onları temsilen seçilen yönetim kurulu üyelerine kurul kararlarının alınması konusunda veto yetkisi de tanınabilmektedir. Türk Ticaret Kanunu m. 340’da getirilen emredici hükümler ilkesi dikkate alındığında, böyle bir veto yetkisi öngören esas sözleşme hükümlerinin, Türk şirketler hukuku bakımından geçerli olup olmayacağı açık değildir. Bu konudaki açıklığın, yargı kararları veya akademik çalışmalarla sağlandığını da söylemek güçtür. İşte bu makale, TTK m. 360/1’de öngörülen yönetimde temsil imtiyazının bir devamı olarak belirli pay sahibi gruplarını temsilen seçilen yönetim kurulu üyelerine esas sözleşme ile veto yetkisi tanınıp tanınamayacağı sorusunu cevaplamayı amaçlamaktadır.

FINANCIAL MANAGEMENT IN THE HEALTHCARE INDUSTRY OF THE SLOVAK REPUBLIC

Background: Healthcare is one of the most monitored areas of human activity. The healthcare segment, especially healthcare, drug development and manufacturing are among the defensive sectors that thrive even in times of uncertainty. Aims: The aim of the paper is to apply methods of financial analysis in the financial management of hospitals in NACE 861 – Hospital activities, to assess and increase competitiveness and financial performance. Sample: The research sample consists of medical facilities under the jurisdiction of the Ministry of Health of the Slovak Republic transformed into joint-stock companies and hospitals under the jurisdiction of the Ministry of Health of the Slovak Republic, the Ministry of Defense of the Slovak Republic, and the Ministry of the Interior of the Slovak Republic according to NACE 861 – Hospital activities. Methods: We use basic thought operations and selected mathematical-statistical methods in the paper. The financial analysis of the hospitals will be carried out based on the data taken from the financial statements available in the Register of Financial Statements of the Slovak Republic for the years 2007 - 2022. Results: The results show that the geometric mean for the period 2008 - 2020 for costs is G = 1.01 and for revenues is G = 1.02. Conclusions: Financial aspects are key factors in the company's development process. Knowledge regarding the financial health of the company can help the company in its competitiveness. In the framework of business management, many decisions are influenced by financial and economic analysis. Every manager should strive to understand financial theory. Implications: The benefit will be an evaluation of the financial situation and insight into the competitiveness of the healthcare industry.

THE RESULTS OF THE JAPANESE GASTRIC CANCER ASSOCIATION MORPHOLOGICAL CLASSIFICATION ADAPTATION FOR THE KAZAKH POPULATION

Relevance: Gastric cancer is a heterogeneous group of malignant epithelial tumors arising from the cells of the gastric mucosa, one of the most common forms of malignant neoplasms in many countries of the world. But, despite repeated attempts, there are no convincing approaches to early large-scale (screening) detection technology for this form of cancer. This causes a high rate of late detection of advanced forms of gastric cancer in most countries of the world, a high one-year mortality rate of patients, and a low five-year survival rate. Currently, full screening for gastric cancer is carried out only in Japan, Korea, and China – countries with high incidence rates.
 The study aimed to was a retrospective analysis of literary data on the epidemiology of gastric cancer in the world, individual countries, but, above all, our own materials, summarized by specialists of the Joint Stock Company “Kazakh Research Institute of Oncology and Radiology” (JSC “KazNIIOiR”) on the situation with cancer stomach in Kazakhstan; analysis of information on the types and results of screenings for the early detection of gastric cancer in the world.
 Methods:For the analysis, we used available epidemiological indicators on GC from the specialized literature, data obtained from annual reporting forms No. 7, approved by the Ministry of Health of the Republic of Kazakhstan, in the country code (ICD 10 – C16), publications with statistical and analytical materials on Kazakhstan. Morbidity and mortality rates were calculated based on data from the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan website on the average annual population by region of Kazakhstan.
 Results: A long-term decrease in the incidence and mortality from gastric cancer in Kazakhstan since 2021 has been replaced by a stable increase in the incidence of gastric cancer against the backdrop of a high frequency of advanced forms, relatively high mortality, and low fiveyear survival of patients. At the same time, there is experience in the world of certain approaches to screening the population for early detection of gastric cancer.
 Conclusion: The high morbidity of gastric cancer in most regions of the country in recent years requires the search and development of optimal forms of screening for its early detection; this will reduce mortality from gastric cancer and increase the five-year survival rate of patients.

Knowledge of financial management practices of listed SMEs

RESEARCH OBJECTIVE: Small and medium businesses are constantly driving economic prosperity. The SME sector accounts for the overwhelming majority of enterprises, i.e. 99.8%, both in Poland and in the EU as a whole. Therefore, the aim of this article is to verify the research hypothesis assuming that Knowledge Management (KM) plays a key role in the financial management of small and medium-sized listed companies, especially in terms of investment decisions.
 THE RESEARCH PROBLEM AND METHODS: The research method used in this article will be the analysis of stock market data describing as a not very satisfied financial condition of small and medium listed companies in times of broad economic crises, which mainly include the pandemic time and the armed conflict in Ukraine. On the basis of selected financial data, estimate an econometric model was created to help explain the mechanism of changes occurring the financial condition of the listed business entities.
 THE PROCESS OF ARGUMENTATION: A literature review confirming the important role of knowledge management including the Balanced Scorecard (BSC) methodology in financial situation of the joint-stock companies. The current state of the global economy is leading to a dangerous situation in which it is becoming increasingly difficult to maintain a secure financial cushion.
 RESEARCH RESULTS: Estimation of an econometric model is expected to confirm the research hypothesis that KM plays a key role in the financial management of small and medium-sized listed companies, especially in terms of their investment decisions in range of using innovative method as BSC.
 CONCLUSIONS, INNOVATIONS, AND RECOMMENDATIONS: The article explains the key role of KM in the financial management of small and medium-sized listed companies during crises. The results of the estimated model can serve the more effective management of SMEs listed on NewConnect and other alternative trading floors around the world.

Profile, Status, and Prospects of Electronic Companies in Foshan City: Basis for Development Plan

The comprehensive utilization of resources has become an urgent task to transform the mode of economic growth, develop a circular economy, build a resource-saving and environment-friendly society, and an important way to ensure the sustainable use of resources, reduce the pressure of environmental pollution, improve the efficiency of resource utilization and improve the quality of economic development. The study utilized a descriptive research method, the study aims to depict the profile, status, and prospects of these companies, with a particular focus on marketing, technical, and financial aspects for strategies, and innovation, opportunities, and challenges for operations. The respondents involved in the research are the managers or business owners of these electronic companies. Significant findings reveal that the five electronic companies in Foshan City are substantial in size, operating as joint-stock companies with assets valued in millions of RMB and employing thousands of individuals, primarily focused on household appliances. Strategies within these companies, particularly in marketing, technical, and financial areas, require enhancement to meet the continuously evolving needs and demands of the market, influenced by changes in technology and consumer behavior. Operations within electronic companies, emphasizing innovation, opportunities, and challenges, are crucial variables to consider for improving competitiveness in the electronic products industry. The study's output presents a proposed development plan deemed helpful for the electronic companies in Foshan City, providing a roadmap for their future growth and success.

The effect of applying joint auditing in reducing agency problems: Applied research in private joint stock companies / Khaleeji Commercial Bank

هدفت هذه الدراسة الى اختيار اثر تطبيق التدقيق المشترك في تخفيض مشاكل الوكالة وذلك باختيار اكثر من مراقب حسابات مشتركين في عملية التدقيق بأسلوب التدقيق المشترك وهو احد اساليب التدقيق حيث يكلف اثنين من مراقبي الحسابات مستقلين بتدقيق البيانات المالية واصدار تقريراً مشتركاً يكونان مسئولان عنه مسؤولية تضامنية مشتركة حيث ظهر هذا النوع في كثير من البلدان في الفترة الاخيرة خاصتاً بعد الازمات المالية العالمية الاخيرة من اجل استعادة ثقه مستخدمي هذه التقارير واستناداً الى نظرية الوكالة فان الادارة تسعى الى استغلال الصلاحيات الممنوحة لها للإظهار الجوانب الايجابية عن الادارة تلك الشركات والظهور امام المالكين بالوضع الجيد مستغلين المرونة بالمعايير المحاسبية اضافة الى الاهتمام بالمصالح الشخصية على حساب الملاك ولغرض الحد من هذه الممارسات والافعال يجب اتباع عدة اليات من قبل المالكين للحد من تضارب المصالح بين المدراء والمالكين والحد من التلاعب بالسياسات المالية والمحاسبية وأحد هذه الاليات هو التدقيق المشترك حيث يهدف هذا البحث الى بيان أثر تطبيق التدقيق المشترك في الحد من مشاكل الوكالة