Monetary Resources Research Articles

Hotel ICON: towards a role-model hotel pioneering sustainable solutions

ABSTRACT Sustainability has become a vital issue for the hotel industry. Hotel ICON, the world’s first fully-integrated teaching and research hotel was built with the aim of becoming a role-model hotel for the Hong Kong hotel industry. The hotel focused on sustainable operation through innovation to create value for the customers, the community, and the planet. The hotel has invested time and monetary resources in various sustainability initiatives but was it effective in meeting the hotel’s business and sustainability objectives? How can sustainability features be used to strengthen its competitive advantage? How should the hotel report its sustainability efforts?

Social inequality in child educational development in China

Nearly all past studies on educational inequality have examined the relationship between family and children’s educational achievement in western countries. Very few have examined this question in other social contexts, such as China. This article investigates differences in factors that influence children’s development between China and western countries. Capitalizing on recent national representative data, we extend previous studies by using more recent data and considering different measurements of educational outcomes. Our findings show that structural forces, such as hukou and residence, are more important than family and individual characteristics in China for influencing children’s educational outcomes; and that family non-monetary resources such as expectations and parenting practices are more important than family monetary resources such as income, for children’s educational achievement.

Factors that affect the experience of entrepreneurship in university students. A study in a private institution in Merida, Yucatan, Mexico

Introduction: It is important to educate young university students for adapting to social, economic and environmental changes in the world. It is not to prepare them just to be employees, but entrepreneurs who could be leaders in their fields, creating jobs and improving people’s quality of life. For this, there are entrepreneurship programs based on high impact project incubation, but there is still the risk of dropping out. For this, the objective of this study was to identify the factors which positively and negatively affect the entrepreneurship experience in university students, from the perception of young students who have already had an incubated project. Method: The study approach was qualitative, with an exploratory and descriptive type and a non-experimental and transverse design. The participants were twenty students who have already had an incubated project, registered at the Tax Agency and legally constituted as an enterprise, besides of their involvement in entrepreneurship activities along their education process at the institution. All of them were from a private university situated near Mérida city, Yucatán, in the Southeast of México, acknowledged for its entrepreneurship education as well as for its incubation and acceleration processes. A semi-structured interview guide was used, conducted by the researchers. Results: The factors that positively affect students to become entrepreneurs are personal ones, such as intrinsic motivation and the opportunity to be creative and dedicate to an interesting activity, accepting the risks. This is reinforced by the help of the coach, attendance to events, lectures and workshops, as well as constant feedback from expert panels. The ones which negatively affect the entrepreneurial experience are mainly external, such as the lack of monetary funds for living while the project is incubated, because when there are monetary resources, they are just for the project. There are also other internal factors such as the fear for making mistakes and the lack of experience for starting a business. Conclusions: The factors which prevent the entrepreneurship development depend on each participant more than in the method. The student must have time for the project and to continue his courses without the need to search for a job for making a living along the incubation. Then, there must be strategies to guarantee time and monetary resources so students don’t have distractors which could become entrepreneurship barriers. Besides, university study plans must be improved for enhancing creativity, innovation and entrepreneurship from initial stages. Incubators must be places for enhancing insertion of new enterprises in nets and create university clusters.

Social support and pregnancy attitudes among youth experiencing homelessness

Youth experiencing homelessness demonstrate high rates of pregnancy and pregnancy involvement. Many homeless youth view pregnancies positively; some extant research has depicted this group’s pro-pregnancy attitudes as a function of youth being in desperate need of resources, such as money, food, clothing, housing, and healthcare. Several studies report that female homeless youth, in particular, feel trapped by their need for monetary resources. Their lack of economic capital may thus cause some of them to go to great lengths, including becoming pregnant, merely to maintain access to supports, especially when pregnancy is perceived as desired by a partner who provides such benefits. However, knowledge of the association between youths’ receipt of specific sources and types of social support and their pregnancy attitudes is limited. Social network data were collected from 1003 homeless youth (ages 13–25). Logistic regressions assessed whether specific forms of social support (informational, instrumental, emotional), provided by youths’ social network members (street-based peers, home-based peers, family members, service providers, serious partners), are associated with youths’ pro-pregnancy attitude endorsements. Multivariate results demonstrated that youth who reported receipt of instrumental support (e.g., monetary resources) from a serious partner were significantly more likely to endorse pro-pregnancy attitudes compared to their peers who did not receive such form of support. Findings suggest a need for creating dyadic communication and prevention activities that facilitate homeless youths’ conversations about their economic resource needs, as part of discussions about their pregnancy motivations and relationship goals, in ways that foster informed, self-determined reproductive health decision-making.

The strategic dimension of financing global public goods

One challenge in addressing transboundary problems such as climate change is the incentive to free-ride. Transfers from multilateral compensation funds are often used to counteract such incentives, albeit with varying success. We examine how such funds can change the incentive to free-ride in a global public-goods game. In our game, self-interested countries choose their own preferred course, deciding their voluntary public good provision, whether to join a fund that offers compensation for providing the public good and the volume of compensatory payments. We show that (i) total public-good provision is higher when those contributing are given more compensation; and (ii) non-participation in the fund can be punished if the remaining members decrease their public-good provision sufficiently. We then examine three specific fund designs. In the first, the compensation paid to each country is equal to the percentage of above-average total costs for public-goods provision. This design is best able to deter free-riding and can establish the social optimum as the equilibrium. In the second, the compensation paid to each country is a function of the marginal cost of their public-good provision. Here there are significant incentives to free-ride. In the third case, the monetary resources provided by the fund are fixed, a design frequently encountered in international funds. This design is the one least able to deter free-riding.

Development of Algorithms for Effective Resource Allocation among Highway–Rail Grade Crossings: A Case Study for the State of Florida

Smart cities directly rely on a variety of elements, including water, gas, electricity, buildings, services, transportation networks, and others. Lack of properly designed transportation networks may cause different economic and safety concerns. Highway–rail grade crossings are known to be a hazardous point in the transportation network, considering a remarkable number of accidents recorded annually between highway users and trains, and even solely between highway users at highway–rail grade crossings. Hence, safety improvement at highway–rail grade crossings is a challenging issue for smart city authorities, given limitations in monetary resources. In this study, two optimization models are developed for resource allocation among highway–rail grade crossings to minimize the overall hazard and the overall hazard severity, taking into account the available budget limitations. The optimization models are solved by CPLEX to the global optimality. Moreover, some heuristic algorithms are proposed as well. A case study focusing on the public highway–rail grade crossings in the State of Florida is performed to evaluate the effectiveness of the developed optimization models and the solution methodologies. In terms of the computational time, all the solution approaches are found to be effective decision support tools from the practical standpoint. Moreover, the results demonstrate that some of the developed heuristic algorithms can provide near-optimal solutions. Therefore, the smart city authorities can utilize the proposed heuristics as decision support tools for effective resource allocation among highway–rail grade crossings.

The Search for Order in Municipal Administration: Herman A. Metz and the New York City Experience, 1898–1909

ABSTRACTThis paper examines the administrative and accounting reforms coordinated by Herman A. Metz around the turn of the 20th century in New York City. Reform efforts were motivated by deficiencies in administering New York City's finances, including a lack of internal control over monetary resources and operational activities, and opaque financial reports. The activities of Comptroller Metz, who collaborated with institutions such as the New York Bureau of Municipal Research, were paramount in initiating and implementing the administrative and accounting reforms in the city, which contributed to reform efforts across the country. Metz promoted the adoption of functional cost classifications for city departments, developed flowcharts for improved transaction processing, strengthened internal controls, and published the 1909 Manual of Accounting and Business Procedure of the City of New York, which laid the groundwork for transparent financial reports capable of providing vital information about the city's activities and subsidiary units.JEL Classifications: H72, M41, N91.Data Availability: Data are available from the public sources cited in the text.

A Practical Index to Estimate Mangrove Conservation Status: The Forests from La Paz Bay, Mexico as a Case Study

Mangrove cover has declined significantly in recent years in tropical and subtropical areas around the world. Under this scenario, it is necessary to elaborate and implement tools that allow us to make estimations on their conservation status and improve their protection and support decision-making. This study developed an index using qualitative and quantitative data. The criterions used in the index were: (1) Remnant Vegetation Index, (2) Delphi Method Survey, and (3) Rapid Assessment Questionnaire. In turn, the weights of the criterions were defined using the analytical hierarchy process (AHP). Once the values of each criterion were obtained, the index was applied to 17 mangrove communities located in La Paz Bay, Mexico. Finally, according to their score, they were classified based on the IUCN Red List of Ecosystems. The results show that five communities were ranked in the category Minor Concern, eight in Little Threatened, one in Vulnerable, one in Endangered, and two were classified as Deficiency of Data. These results are slightly different from other studies in the region and validate this index as a proper method. Therefore, it could be applied to other sites, especially in areas with little information and/or scarce monetary resources.

Oil project selection in Iran: A hybrid MADM approach in an uncertain environment

This research focusses on the selection of oil projects by using Multi-Attribute Decision Making (MADM) methods in an uncertain environment. Oil production plays a crucial role in the economy of Iran, a country with many opportunities for onshore oil exploration. Differently from other countries, however, oil producers in Iran face some constraints with respect to oil extraction because some areas are shared with other producers. Additionally, oil producers in Iran must also allocate scarce physical, human, and monetary resources among different projects. Inaccurate decision-making may not only yield sub-optimal revenue generation, but also adversely affect the national economy For these reasons, priority oil projects must observe a sequence of steps. In the first step, critical factors for selecting oil projects are collected from previous related studies and experts are interviewed. These factors are subsequently filtered using the Delphi method. The oil projects are then ranked using a comprehensive approach involving novel alternative MADM methods. The best-worst method (BWM) is a new MADM stream that relies on pairwise comparison. It presents several distinct advantages with respect to fewer computational steps and higher discriminatory power among alternatives. Differently from previous research, this paper couples BWM with Weighted Aggregated Sum–Product Assessment (WASPAS) to improve result sensitivity under uncertain decision-making environments as modelled by Z-numbers. A robustness cross-check against other MADM models is also presented. Results indicate that quality has the highest priority and that production technology has the lowest priority among ten factors for oil project selection, thus reflecting the impact of US sanctions on oil production in Iran. Managerial implications and future avenues of research are derived.

Native American tribal governments, cross-sectoral climate policy, and the role of intertribal networks

Complex policy problems such as climate change that spill over multiple issue areas or jurisdictions often require new policy approaches because sectoral (or territorial) policies are not designed to tackle the issue of policy spillovers. Yet, cross-sectoral policies upset the status quo and invite a political backlash from departments and individuals who fear erosion of their power, authority, budgets, or status. We offer one of the first studies to systematically examine conditions under which tribal governments develop cross-sectoral climate plans. Drawing on an original dataset of 239 tribes, our statistical analysis shows that tribal governments embedded in cross-tribal networks are more likely to develop cross-sectoral climate plans. While developing such policies is costly, the availability of monetary resources does not change tribes’ odds of developing cross-sectoral climate plans. Thus, the role of embeddedness in networks, as opposed to financial capacity, motivates tribes to adopt new policy approaches that are risky and yet more suitable to solve a problem with cross-sectoral spillovers.

Interaction of Climate and Economy as a Factor of Collectivism in the Regions of Russia

В статье представлены результаты эмпирического исследования роли климато-экономических характеристик 85-и регионов России в формировании коллективизма на их территории. Опираясьна результаты ранее проведенных исследований, авторы предположили, что в регионах c достаточным уровнем экономических ресурсов для удовлетворения потребностей, которые возникаюту населения в связи с более требовательным к ресурсам климатом, уровень коллективизма нижеи, наоборот, в регионах с недостаточным уровнем экономических ресурсов для удовлетворения потребностей уровень коллективизма выше. Теоретически фундированные предположения проверялись с привлечением базы данных “Единой межведомственной информационно-статистической системыˮ (ЕМИСС), что позволило сформировать и вычислить для каждого региона индекс коллективизма, основанный на статистических данных. В качестве основных факторов,влияющих на уровень коллективизма в регионах, рассмотрены климатический запрос и экономические ресурсы региона. Результаты исследования показали, что климатические условия реги-онов России и экономические ресурсы их населения могут выступать в них в роли предикторов уровня коллективизма.

TRANSFORMATION OF BEHAVIORAL FINANCE AS A RESULT OF CHANGING MODELS OF ECONOMIC BEHAVIOR

The development of economy and its fluctuations sometimes acquire disastrous forms for countries and even the world community; and individual unexpected financial ups and downs of powerful corporations always attract attention of practitioners as well as researchers. They both look for the reasons for these phenomena, primarily referring to classical finance. However, their explanations do not always look convincing; they ignore the elusive essence of their incentive factor. And it was perseverance and a combination of the opposite that contributed to the emergence of behavioral finance, which focused the search on the social and psychological aspects of phenomena. Each period of economic development was marked by a number of authentic prerogatives and goals that shaped the behavior of the individual. Generalization of individuals similar in priorities and directions of implementation of actions formed the basis of models of economic behavior. The change in these models was due not only to scientific and technical progress, but also to the role of person in society, their identification as a separate participant or a participant of the collective society, as a component of the whole. The transition from Homo economicus, whose purpose of operation was rational egoistic enrichment, to Homo creativus, who acquires the understanding of their own identity and the need to improve and realize abilities, leads to the emergence of an opinion about the irrationality of the nature of the individual's economic behavior. Further changes in the socio-economic environment led to the formation of a behavioral model for social climbers, for whom monetary resources are not the goal for their work, but rather a means of realizing egoistic ascension. The command system formed the behavior model of Homo soveticus, which erased the boundaries of the personal for the sake of collective goals, causing the emergence of a «collective mentality». And the assertion of a democratic society of our time contributed to the emergence of RREEMM (resourceful, restricted, evaluating, expecting, maximizing man) and Click models, in which an individual shows his qualities and achieves goals in conditions of limited resources and information, but with excessive confidence in his own strengths and knowledge. and decisions in most cases are made by impulsive pressing of a button.

ОПТИМІЗАЦІЯ РОЗРАХУНКІВ ІЗ ПОСТАЧАЛЬНИКАМИ ТА ПІДРЯДНИКАМИ ПІДПРИЄМСТВ

Currently, not a single organization can operate without accounting, regard-less of departmental affiliation and ownership. The raison is that only accounting data provide complete information about the property and financial condition of the organization. Synthetic and analytical information on the state of material, la-bour and monetary resources, the effectiveness of investment and credit policy, costs and production efficiency allows you to manage business activities and monitor the implementation of profit plans, develop long-term plans for production development. An important part of accounting is the accounting of settlements with suppliers and contractors, settlements with buyers and customers. In the course of economic activity, organizations constantly conduct settlements with suppliers for the fixed assets, raw materials, materials and inventory items, the executed works and the rendered services; with buyers – for the goods bought by them, finished goods; with credit institutions on loans, credits and other financial transactions; with the budget and tax authorities – on various payments; with other bodies and persons – for various business transactions. In a market economy, the risk of non-payment or late payment of bills increases, which leads to receivables and payables. Part of this debt in the process of financial and economic activities is inevitable and must be controlled within acceptable values. Overdue accounts payable indicate violations of financial and payment discipline by buyers, suppliers, and customers, which requires immediate action to eliminate the negative consequences. Timely application of these measures is possible only when the company carries out systematic control. This article considers the economic essence of settlements with suppliers and contractors as part of the obligations of the enterprise, their definition, recognition, classification, and evaluation in accounting. The legislative and normative regulation of accounting of settlements with suppliers and contractors is singled out. The final stage of this work is the presentation of ways to improve settlements with suppliers and contractors on the example of the company Public Joint Stock Company "ArcelorMittal Kryvyi Rih".

Innovations in Management of Banks Deposit Portfolio: Structure of Customer Deposit

The economic and statistical analysis of the bank's deposit portfolio by the structure of deposits has been performed. An algorithm for grouping deposits by type of client, amount, maturity, and interest rate is proposed and tested. A technique is proposed for analyzing the influence of the type of forming factors: the amount, term, and interest rate on the change in the number of dividends on a bank deposit. The influence of each type of deposit on the overall increase in interest payments is determined. The purpose of the article is to improve the methodological approach to the effective management of the bank's deposit portfolio using the economic and statistical analysis of the structure of deposits. A study of the literature shows that insufficient attention is paid to the formation of an optimal deposit portfolio of the bank. The relevance of the article lies in the need to use the mathematical apparatus to optimize the process of managing the borrowed funds of customers. The tendency of changes in the amounts of balances, volumes of inflow, and subsidence of deposits of corporate clients and individuals in the bank is analyses. The methodology for grouping deposits by amounts, interest rates, and investment terms has been improved, which allows structural positioning changes in the total amount of the bank's deposit portfolio. A technique is proposed for studying the influence of factors on the structure of deposits in a bank. The methodology of index factor analysis has been improved to study the structure of deposits in the bank. For the analysis of cash flows, the average storage period, and average deposit balances for a certain period are determined. The index of the average duration of the use of a variable composition deposit is calculated. The economic effect for the bank from increasing the terms of attracting financial resources is calculated. A set of indicators has been proposed for assessing the effectiveness of managing customer funds raised. The study is based on a combination of statistical and economic-mathematical methods of analysis, a system-structural approach (systematization, grouping and ranking, analysis of time series, and scientific abstraction). Presented various marketing tricks that bank depositors may meet. The developed methodological provisions of a statistical study of the structure of deposits can be used in modeling and forecasting the results of financial institutions. Practical recommendations allow us to give an objective assessment of the state of the resource base of the bank in terms of the effective management of funds of individuals and corporate clients. Keywords: analysis, bank, monetary resources, deposit, efficiency, customers, portfolio, interest, amount, term, management.

INTEGRATION OF DOMESTIC BANKS IN THE WORLD FINANCIAL SYSTEM

The article reveals the integration of domestic banks into the global financial system. An urgent issue today is the integration of the activities of domestic commercial banks into the global financial system, which is characterized by globalization processes. Globalization is a process of global economic, political and cultural integration, the main characteristics of which are the world division of labor, global migration of monetary, human and productive resources, standardization of legislation, economic and technological processes, as well as the convergence of cultures of different countries. The economic aspects of globalization are characterized by free trade, free movement of capital, reduction of taxes on the profits of enterprises, ease of movement of industries between different states in order to reduce the costs of labor and natural resources.

Schmidt Press and Mekkanischer Wahnsinn

The owner of the small Berlin-based Schmidt Press encounters a dilemma when she is given the opportunity to publish a novel about a Muslim woman who attempts to lead an underground movement to take control of the Kaaba, the holy sanctuary at Mecca. Given the events of the prior 25 years—such as the angry fallout after Salman Rushdie's novel The Satanic Verses, the 2001 terrorist attacks on the United States, the upheaval in many Middle Eastern countries—publishing the novel presents a host of various ethical dilemmas, including whether Schmidt should put her staff at risk. This case discusses the ethics of a free press and challenges the profit motive in the face of political and religious world affairs. Excerpt UVA-E-0387 Rev. Mar. 6, 2020 Schmidt Press and Mekkanischer Wahnsinn After 29 years of career success in a leading German publishing firm, Gisela Schmidt had harnessed all the monetary and human resources she could to launch her own publishing firm, Schmidt Press. The Berlin-based company had created a niche for itself in publishing exciting, fact-based fiction, and Schmidt, a risk-taker, had profited from a national resurgence in adventure novels. In late 2012, Schmidt Press was celebrating its sixth year in business and its first year in the black. In June 2012, author Jonathan Taajwar had submitted a manuscript to Schmidt Press called Mekkanischer Wahnsinn (Meccan Madness). The book had been reviewed by the editorial staff and was now on Schmidt's desk, where it had been sitting for six months while Schmidt pondered what to do with it. She had read the manuscript the week she received it and found it to be a riveting novel about a Muslim woman who attempts to lead an underground movement to take control of the Kaaba, the holy sanctuary at Mecca. Schmidt was sure the book would be a bestseller and give her embryonic bottom line a large and welcome boost. Schmidt's confidence in the success of Mekkanischer Wahnsinn, however, was also the very reason for her serious concern about publishing it under her company's name. She was well aware that the novel's basic premise made it potentially controversial, in particular given that the author described himself as a lapsed Muslim. Any publication critical of Islam would be poorly received by people of the Islamic faith. Although the tragedy of the terrorist attacks on the United States on September 11, 2001, had created some worldwide interest in learning about the Islamic faith—and might consequently have led to a boost in sales of publications dealing with Islam—it had also created a volatile climate that could potentially lead to a hostile reception of Taajwar's novel. . . .

A systematic approach to understanding the essence of the post­industrial and intellectual economy

Economic science pays much attention to the research of the essence of post-industrial intellectual economy today. Many theoretical approaches to understanding the development process of post-industrial society have been formed in the modern world, but the final concept of modern intellectual socio-economic development does not yet exist. The basis of the formation of a post-industrial and intellectual economy is information, knowledge and creativity — these are modern types of resources that different from monetary, natural, labor and technical resources and which become the basis of the “economy of knowledge”. The basic systems of functioning of the intellectual economy are determined, which are interconnected and important. An intelligent post-industrial economy is formed considering internal systemic relationships between different types of activities at the societal level, human, intellectual capital, innovation activity, intellectual property, at the staffing level and the use of synergy and creativity. Such interaction is considered as a single complex and open system with a significant number of subsystems. The unifying idea of a complex system is a statement based on the use of information and knowledge. Both of each system individually and interconnections have an internal unity of contradictions. This is the unity of contradictions that is a “delta” of progress. The unifying elements of interacting systems are human and goal. All groups of components of the intellectual and post-industrial economy are united by a single object of activity (creative process, knowledge) and have various subjects of activity. For this reason, there is a need for comprehensive research, consider the presence of a single object, as well as various subjects of activity with their own characteristics of their functioning.

АНАЛИЗ СОСТОЯНИЯ И РАЗВИТИЯ ОСНОВНЫХ ПОКАЗАТЕЛЕЙ СУБЪЕКТА АГРАРНОГО СЕКТОРА – ЭКОНОМИКИ ТОКТОГУЛЬСКОГО РЕГИОНА КЫРГЫЗСТАНА

The article is devoted to the state of the economy of the subject of the agricultural sector – the Toktogul region of Kyrgyzstan, as well as the formation of a land division, which is impossible without an influx of investments and ensuring the availability of monetary resources for agricultural producers. In our time, innovation is becoming the main means of increasing the benefits of economic entities by better meeting market demand and reducing production losses compared to competitors. Despite repeated attempts by the country to create a system of lending to agricultural companies, only a small percentage of them use credit resources. Various state aid schemes support a competitive environment in the money markets and guarantee relatively equal access to them for financial institutions and agricultural enterprises.

Saksa kultuuriruumist pärit teadlased Eesti Vabariigi Tartu Ülikooli teenistuses [Abstract: Scholars from the German Cultural Space in the Service of the Estonian Republic’s University of Tartu

Saksa kultuuriruumist pärit teadlased Eesti Vabariigi Tartu Ülikooli teenistuses [Abstract: Scholars from the German Cultural Space in the Service of the Estonian Republic’s University of Tartu

Product Deletion in the Information Technology Industry

IT companies invest substantial monetary and nonmonetary resources in introducing or acquiring new products and managing them. However, not all of these IT products remain profitable, valuable, and strategic for a company. It is beneficial for the IT company to delete weak products from the product portfolio and re-channelize the freed resources to strong products in order to improve financial performance. Three internal factors influencing product deletion in IT companies are (1) deleting an existing product to introduce a new one; (2) deleting a relatively new product to merge it with an established product; or (3) merging multiple products into one product. Alternatively, three external factors that impact product deletion decisions in IT companies are (1) privacy concerns and issues; (2) unfavorable reviews from technology experts; or (3) mergers and acquisitions. Understanding these unique factors that trigger product deletion in IT firms can facilitate the decision-making process and aid managers in successfully implementing the product deletion. If managed appropriately, product deletions could help a company redeploy its valuable resources to strong products in the portfolio, create a superior competitive position in the market, and bolster growth and financial performance.