Payment Terms Research Articles

Wine Companies’ Profitability in the Old World: Working Capital’s Impact

The purpose—The aim of this paper is to explain the relationship between working capital and profitability in the context of the wine industry. Design/methodology/approach—Artificial neural networks were used to analyze the relationship between working capital management and the profitability of Old World firms, based on a sample of 324 firms. Findings—The results suggest a positive relationship between the cash conversion cycle and the profitability of winery firms. Thus, an increase in the cash conversion cycle seems to increase wine companies’ profitability. Thus, managers can generate shareholder value by increasing the cash conversion cycle to a reasonable level. Regarding days of payable outstanding, there is a negative influence of the average payment term on the profitability of wine companies. This leads to the fact that the longer a company takes to pay its creditors, the less profitable it appears to be. In terms of days sales outstanding, the results suggest the existence of a negative impact of the average collection period on the profitability of winery firms. In other words, a reduction in the number of days a firm receives payment for sales positively affects the firm’s profitability. Finally, the results of the study show a positive relationship between days of outstanding inventory and the profitability of wineries, suggesting that wineries that maintain sufficiently high inventory levels have higher profitability. These results indicate that managers could create value for their shareholders if they managed their working capital more efficiently. Practical limitations/implications—The neural network can predict profits based on working capital management. However, the applied research methodology should be extended to other business typologies and wine firms of other countries to allow the generalization of results. Originality/value—This paper is the first study on the impact of working capital management on the financial performance of companies in the wine sector, particularly in the Old World. The results are an input to the wine business sector literature, one of the most representative of regional economies in the countries focused. The applied methodology can be adopted more broadly and underlies managerial implications. For future research, a similar analysis can be envisaged for the New World, and a comparison between the two blocks of countries, given the difference in characteristics and techniques of wine production, could be made.

The utility and value of contract terms: a case study on interior contractors

This study applied the conjoint analysis technique to appraise the utility of interior contractors' contract terms and project price conditions, the sample group comprising 112 interior contractors working in 12 shopping centers of a public company in Thailand. The results showed that the advance payment term, the period of an interim payment term, the period to make a payment term, and the project price conditions had average utility ratios (ratio of its utility to the total utility) of 28.53%, 20.24%, 20.41%, and 25.87%, respectively. These results confirmed that each of these three contract terms are as important to interior contractors as the project price condition (no price reduction by 5% of the proposed price). This study also valued the three contract terms by comparing their utility with the utility of the project price condition. The values of the terms to the interior contractor were as follows: the value of the advance payment term varied between 0.00–11.67% of the proposed price; the value of the period of the interim payment term varied between 1.25–8.33% of the proposed price; and the value of the period to make a payment term varied between 2.00–11.67% of the proposed price. The value of all three contract terms varied between 12.00–20.00% of the proposed price. The insights into the utility and value of these three contract terms from this study could aid project owners or tenants of shopping centers in project price negotiations.

PERANCANGAN SISTEM INFORMASI PEMBAYARAN ANGSURAN KREDIT SEPEDA MOTOR BERBASIS LAN PADA CV. SUMBER JAYA KENCANA MOTOR BINJAI

With the development of economic activity lately, it is increasingly triggering economic activity in all fields. Among these economic activities are business activities in the field of selling automotive products. So that at this time many emerging companies engaged in the field of automotive loan financing. And one such company is CV. Sumber Jaya Kencana Motor Binjai which is also the official distributor for sales of Yamaha motorcycles.
 Purchasing motorcycles on credit is more likely to bring greater results than purchasing in cash. In installment payments, there is an agreement to protect the seller from the possibility of uncollectible receivables. To protect the interests of the seller from the possibility of non-fulfillment of the obligations that must be fulfilled by the buyer, an agreement or installment sales contract is made after the transaction is carried out, then a penalty calculation is made where the fine is calculated from the number of installments paid per month multiplied by 0.5% and the result is the number per day late payment of consumer installments.
 The most important factor in the data processing process is in terms of motorcycle installment payments where in this case the company still uses 2 payment methods, namely direct payments to CV dealers. Sumber Jaya Kencana Motor Binjai, namely through cashiers and payments through collectors.
 In this process the input is still inaccurate and data errors often occur, because there is no program that can assist cashiers in inputting motorcycle installment payments and the system used is not efficient. Another problem is that fraud is still very prone to occur in terms of installment payments, where the cashier as someone who is very responsible for this payment also has the opportunity to cheat because there is no accurate system in terms of inputting data.
 Seeing this, the authors are very interested in designing a motorcycle payment information system with the title "Design of LAN-Based Motorcycle Credit Installment Payment Information System at CV. Sumber Jaya Kencana Motor Binjai ".

Strategic Sustainable Development With Innovation And Business Model Canvas In SMEs

Koperasi Magar Jaya in the Kanigoro District of Blitar Regency has thirteen SMEs members. The members have equal rights and obligations, including access to capital loans, procurement of raw materials, training opportunities, and the chance to market their combined products in specific events. While all members can manage their own businesses, there is also an opportunity to sell products together in culinary centers, souvenir centers, and for special occasions. To sustain and develop the business, sustainable strategies are necessary. The research objective is to design sustainable strategies using the business model canvas and formulate solutions for the SMEs. The research methodology is qualitative descriptive, utilizing primary and secondary data sources. The analysis involves designing the business canvas as a tool for developing the Framework for Strategic Sustainable Development (FSSD). The research findings indicate key activities such as procurement of raw materials, production, packaging, and marketing. The value proposition includes standard pricing, standardized products, and attractive packaging. Key resources include raw materials, capital, equipment, machinery, and labor based on the production process. Customer relationships involve discounts on purchases, although they may not be standardized or applied equally to all customers. Consignment of products, payment terms, and free local delivery services are also provided. Channels of distribution involve direct service and can also utilize agents or souvenir centers. Customer segments include the community in need of the products, as well as agents or resellers and souvenir centers. The cost structure includes production costs and sales expenses. Revenue streams come from cash sales, sales through souvenir centers, and consignment sales

Caring for debt: women’s work in Istanbul’s mass housing estates

ABSTRACT The housing programs of Turkey’s Mass Housing Administration (TOKI) for low-income groups put people into debt by selling them houses in remote housing estates and dragging them into a quasi-mortgage system operated by state banks. This paper argues that these (mortgage) debts are not just financial obligations, managed in terms of income and payments but are embodied processes that are cared for within and across households, increasing precarity and intensifying the burdens of social reproduction for women. I draw on ethnographic research conducted in Istanbul in 2019 to examine the lived experiences of indebtedness in a low-income TOKI estate. The paper analyzes the spatial and gendered aspects of the everyday negotiations of debts and labor, theorizing caring for debt as women’s work. I draw attention to how caring for debt becomes women’s life work in the gendered debt geographies that TOKI creates at the periphery of Istanbul.

Restrukturisasi Pembiayaan Bermasalah pada Perbankan Syariah di Masa Pandemi Covid-19: Perspektif Fatwa MUI dan POJK

The current restructuring has been extended until 2023 due to micro, small and medium businesses are still affected by Covid-19. This study aims to find out and analyze the application of BTN Syariah KCS Pasar Minggu regarding the restructuring of troubled financing on mortgage products based on POJK number 11/POJK.03/2020, POJK Number 48/POJK.03/2020, POJK Number 17/POJK .03/2021 and DSN MUI Fatwa Number. 48/DSN-MUI/II/2005. This study uses a descriptive qualitative research method. with the subjects taken were Unit Head Collection, Staff Collection and Customers. This study used primary and secondary data sources with interviews, observation, and documentation data collection techniques. The results of this study indicate that the restructuring policy made by the OJK helps improve the economy in Indonesia with customers who can extend payment terms from the bank so that they can fulfil their payment obligations at a predetermined time. In addition, the restructuring provisions stipulated by the DSN MUI are implemented very well and reflect sharia financial practices that align with the main objective of sharia (Maqashid al-shariah) and strengthen the national economy.

Оценка рисков нарушения сроков оплаты

In the article are analyzed the methods and tools used to evaluation the risks of violating the terms and amounts of payment by counterparties.
 Based on the results of the analysis, the absence of unified approaches and economically sound methods and tools for evaluation this type of financial risks was revealed. The metrics indicating the need to evaluation the risks of violation of the terms of payment under the contract by the counterparty and the stages of conducting a qualitative, quantitative analysis and evaluation the specified risk are identified.
 A tool is proposed - an economically justified calculation model for evaluation the risk of a counterparty violating the terms of payment for the shipped goods / work performed / services provided, based on the opportunity cost of the shortfall in income.

Tinjauan Shopeepay Later dalam Perspektif Hukum Ekonomi Syariah: Studi Fenomenologi di Kota Bekasi

This study aims to analyze the usage of Shopeepay Later from the perspective of Islamic economics law using a phenomenological approach. Data were obtained through a survey using a Likert scale from 51 respondents who are users of Shopeepay Later. The results of the study show that the majority of respondents have a positive view of Shopeepay Later because it is considered advantageous for installment payments without charging interest or usury. Transparency of information and payment terms also received appreciation from the users. However, there are challenges related to understanding and implementing Islamic economic principles, as well as criticisms regarding the late payment sanctions. The recommendation of this study is for Shopeepay Later to reconsider its sanction policy and explore alternative approaches that align better with Islamic economic principles, thereby supporting the development of Islamic economics and providing services that better align with users' expectations from the perspective of Islamic economics law. This study provides in-depth insights into the perspectives and experiences of users regarding Shopeepay Later in the context of Islamic economics law and its implications for the development of technology-based services.

PENGATURAN PERTANGGUNGJAWABAN SWASTA DALAM KECELAKAAN BENDA ANGKASA

Responsibility in space law is regulated in the 1967 Outer Space Treaty and the 1972 Liability Convention. These rules generally regulate the role and form of state responsibility in space activities that cause accidents. The current development of the legal space has begun to involve the private sector as the organizer of space activities, but so far regulations at the international and national levels have not regulated the roles and responsibilities of the private sector. To answer this problem, normative juridical research methods are used, namely legal research which bases the research results on secondary data, namely primary, secondary, and tertiary legal materials relating to personal responsibility in artificial space object accidents. From the research conducted, it can be concluded that the regulation of responsibility for space accidents that cause losses are borne by the state because the celestial bodies are registered in the name of the state, but in terms of payment of compensation incurred, it is borne by the state. space operator. The existing laws and regulations in Indonesia do not yet regulate the accountability mechanism for the private sector, because the Space Law only states that the private sector can play a role in space commercialization activities.

Investigating and Ranking of Barriers Affecting Development of Pharmaceutical Industry Exports in Iran: AHP Method

Background: The study aimed to investigate and rank the barriers affecting the development of pharmaceutical industry exports in Iran's AHP method.
 Methods: The research applied and descriptive method, a field documentary. The study's statistical population was all pharmaceutical organizations that operate in the direction of export to other countries; the study's statistical population consisted of business managers and professors working in the field of export and marketing managers of exporting pharmaceutical companies. The method of data collection was using a questionnaire. The data analysis method was a hierarchical analysis method using a decision tree.
 Results: Evaluation of the results obtained for the barrier of workforce and knowledge of indicators of access to specialized and skilled labor in the field of drug production, skills and technical knowledge in the company in innovative design and development of new products, existing knowledge infrastructure for clinical trial studies In the country of origin, access to a specialized and skilled workforce in the field of drug export, the number of academic and research centers in the field of medicine, the relationship of academic and research centers in the field of medicine with industry and access to cheap labor and the necessary knowledge in compiling and collecting documents Necessary for export to target countries were approved.
 Conclusion: For many firms, the most important external factors that prevent barriers to entering international markets include tariff and non-tariff barriers, foreign exchange rates, fluctuations, competition in foreign markets, government policies, foreign trade practices, and different product and consumption standards. [18] Similarly, operational barriers include the terms of receipt and payment from foreign buyers, establishing transport arrangements, customs clearance, representation, and managing international distribution channels through international markets.

Взаимоотношения торговой организации с поставщиками: как добиться конкурентного преимущества

The article presents the author’s vision of supplier relationship management in the logistics system of a trade organization to ensure competitive advantages. Supplier selection is an actual and important stage in the implementation of procurement management functions. Effective management of this aspect of activity contributes to the establishment of ways of interaction with companies that provide logistics to the organization. Finding suitable suppliers and establishing long-term relationships with them can help companies provide customers with quality products and services at competitive prices and without interruption. The “right” suppliers will reduce the risks associated with instability in the supply chain. The authors have given a new interpretation of the term “Supplier relationship Management”. Supplier relationship management is decision-making to improve the ways of interaction in the procurement process between counterparties of trade and logistics activities. At the same time, the authors consider the effectiveness of interaction with suppliers in the procurement process as an internal competitive advantage. In addition, the authors identified the connection, commonality and difference between the concepts of “value chain” and “supply chain”. The work analyzed the stages of the procurement process, identified problems in the organization of procurement management. The results of the study and the proposed recommendations can serve as a basis for improving the organization and management of logistics, procurement activities of a trade organization to ensure competitive advantages. New parameters for determining the order of purchases, criteria for evaluating the supplier, and effective work on his choice will reduce costs, save on reducing the number of defects, etc. Research results: criteria have been developed according to which it is necessary to take into account: price, supply discipline, quality, payment terms, territorial remoteness, cooperation experience, satisfaction of complaints, order execution time; the algorithm of interaction between supplier and consumer in the supplier relationship management system is presented; new parameters for determining the procurement procedure and supplier evaluation criteria are defined.

Determinants of supplier payment times before and during the pandemic: Empirical evidence from UK firms

Timely, compliant payment to suppliers is a significant issue in purchasing and supply management (PSM) but research into its determinants is limited. Here we draw on social responsibility, fintech and digital purchasing literatures, and institutional and stakeholder theories to explain variations in supplier payment times. A sample of 509 firms spanning 2018–2021 is used for panel regression analysis. Contrary to expectations, the COVID-19 pandemic did not lead to longer payment times or reduced compliance with payment terms, which we attribute to state-funded business supports and corporate decisions to accelerate payment to vulnerable suppliers. Institutional pressure in the form of payment codes was associated with shorter payment times and improved compliance during the pandemic. Supply chain finance (SCF) was associated with longer payment times during the pandemic while e-invoicing had no effect. Overall, institutional pressure seems to contribute to faster payment but stakeholder-centred fintech and digitalisation does not.

Reassessment of the role and functions of the Russian financial market in the context of structural transformation of the economy

A well-developed financial market has a central role in the savings management and investments in the economy and accelerates the economic growth. Geopolitical events in Ukraine, in which Russia got involved in February of 2022, fundamentally changed Russia’s foreign trade policy in terms of export-import payments. A large number of external and internal restrictions left a considerable impact on the effectiveness of the previous model of the Russian financial market. Today our country faces the need to carry out radical structural changes in its economy. Due to this fact there is an evident increase in the importance of the problems identification in the Russian financial market as well as in the development of optimal solutions of the issue. The purpose of this article is to assess the role and dynamics of the financial market’s development before and after the February events of 2022. Moreover, the article makes an emphasis on the change in the functions performance quality of the financial market.

OPTIMAL PAYMENT CONTRACTS IN TRADE RELATIONSHIPS

AbstractIn buyer–seller relationships, offering trade credit to buyers fosters long‐term collaboration but seller provision varies systematically as relationships evolve. We study the optimal provision dynamics of trade credit when the seller's information about the buyer is incomplete. We show how the interaction of self‐enforcing relational contracts and formal contracts determines optimal payment contract choice. We find that payment contracts can be interpreted as screening technologies and imply distinct learning opportunities about the buyer's type. In line with empirical evidence, the model predicts that all transitions between payment terms lead to seller trade credit provision in the long run.

Addressing the Power Imbalance: A Legislative Proposal for Effectuating Competitive Payments from Platforms to Newspapers

The purpose of this study is to explore the underpayment to newspapers from Facebook and Google attributable to the power imbalance between individual news publishers and the dominant platforms, and to describe how a pending bill in Congress—the Journalism Competition and Preservation Act (JCPA)—could effectuate competitive payments to news publishers, effectively simulating a world in which the power imbalance is removed. Facebook and Google (the “dominant platforms”) appropriate the value added of news publishers generally—and newspapers specifically—by reframing articles in rich previews containing headlines, summaries, and photos; and by curating the content alongside advertisements. This reframing and curation decrease the likelihood of a user clicking into the article, thereby depriving news publishers of clicks while enriching the dominant tech platforms. By exploiting their monopsony power over newspapers, Facebook and Google effectively pay a price of zero for accessing and “crawling” the newspapers’ content.
 This study finds that allowing current market forces to dictate the newspapers’ “pay shares”—that is, the portion of platform revenues that redounds to newspaper publishers—ensures that newspapers are compensated at rates significantly below competitive levels. This underpayment results in underemployment of journalists and other news employees, as well as host of social ills associated with local news deserts, including less competent local governments, greater spread of partisanship and misinformation, removal of economic stimulus to local economies, and a reduction in the diversity of viewpoints, particularly among minority populations. The best way to correct this market failure is for the government to permit the news publishers (either newspapers alone, or all news publishers) to coordinate in their dealings with the digital platforms over payment terms and conditions, as contemplated in the JCPA.

ENSURING THE EDUCATION QUALITY OF FUTURE SPORTS MANAGERS UNDER MARTIAL LAW

The study considers management decisions that influenced the quality of education in the process of sports managers training under martial law, in particular, the organization of the educational process in a higher education institution and the terms of payment for educational services of students studying under a contract. The study was attended by applicants for the higher education of the first (bachelor’s) and second (master’s) levels of higher education and teaching staff of the Management of Physical Culture Department. The research used the following methods: methods of analysis, synthesis, generalization, comparison and methods of sociological survey. A survey of students was conducted after the resumption of the educational process under martial law. The most significant opportunities for online learning are considered the individualization of training, the flexibility of the training schedule in choosing the most convenient conditions (place and time), and the study of theoretical material on various online platforms. In their opinion, the lack of necessary equipment at home and the lack of constant access to the Internet have a negative impact on the organization of full-fledged distance learning. Monitoring the quality of education was carried out, the result of which showed the average grades of the success of students at the Management of Physical Culture Department. It is important to note that during martial law there was an issue of resolving problems with the payment of students for educational services, it turned out that some students lost the opportunity to pay for tuition for various reasons.

El debido proceso en la fase de ejecución, de juicios ejecutivos en el Ecuador

The executive trial is a judicial procedure, determined and regulated within the General Organic Code of Procedures, which is used to enforce the collection of an obligation contracted through an executive title. The procedure is initiated with the filing of an executive lawsuit, which must be based on a valid executive title that proves the existence of the debt or obligation. The lawsuit must contain detailed information about the identity of the parties involved, the amount of the debt or obligation, the interest, payment terms, and other relevant details. If this process is not carried out with due process, it is considered a violation of the constitutional guarantees recognized as fundamental and universal rights, including the right to defense as the main guarantee. Justice operators are obliged to respect the rights of the procedural parties. Therefore, the objective of this work is to analyze the application of due process in the execution phase of executive trials, in which the defendant can prevent their assets from being seized and reach a payment agreement or settle the debt or obligation contracted.

Meat productivity of bulls of the Simmental breed and crossbreeds with blood relationship (? Simmental + ? Aberdeen-Angus), (? Simmental + ? Kalmyk)

The aim of the study was to establish the characteristics of the meat productivity of steers obtained from crossing Simmental cows with Aberdeen-Angus and Kalmyk bulls, depending on the cultivation technology. Scientific and economic experiments were conducted in three farms of the Karachay-Cherkess Republic: LLC firm Hammer (experience 1); SEC PZ Zarya -1 (experience 2) LLC Yugagrohim (experience 3) in 2021-2022. For the entire period of cultivation in crossbreeds (? Simmental + ? Aberdeen-Angus) in the first experiment, the average daily increase was 711 g, 8.5 energy feed units were spent on 1 kg of increase, while the increase in Simmental bulls was 655 g per day, 10.4 EQ was spent on 1 kg of increase, or 22.35% more. The crossbreeds (? Simmental + ? Kalmyk) were closer to the bulls of the Simmental breed in terms of growth and payment of feed. In the first, second and third experiments, the crossbreeds (? Simmental + ? Aberdeen-Angus) outperformed purebred simmentals by: pre-slaughter live weight by 29.7 (P>0.999), 12.1 and 13.9 (P>0.99) kg; the mass of the paired carcass by -18.5, 8.9 and 8.6 kg (P>0.99 – 0.999); internal fat weight by – 3.1 (P>0.999), 0.6 and 2.4 (P>0.99) kg; slaughter weight by – 21.6, 9.5 and 10.2 kg (P>0.99–0.999); slaughter yield by -1,07,0,66 and 0.49 abs.%; half-carcass weight by 9.1, 4,5. and 4.5 kg (P>0.99–0.999); muscle mass by -6.13 (P>0.999), 3.0 (P>0.95) and 3.74 (P>0.99) kg; adipose tissue by–3.75 (P>0.99), 1.91 and 0.58 kg, respectively.

Opportunities for Adult Learners in Ghana’s Higher Education Institutions: Limiting Factors and Strategies

This article focuses on a case study of adult learners in Accra Learning Center (ALC) to explore limiting factors to learning in higher education institutions (HEIs) using distance education (DE) mode in Ghana. Educated adults possess experiences that help them take up leadership roles and transform communities. However, limiting factors including lack of media support and employment opportunities to adult learners in HEIs were highlighted by this study. Mixed method research (MMR) that tilted toward qualitative study was employed, and a dialogical approach to MMR was adopted. Semi-structured interview schedules were developed and administered to 45 adult learners. Random sampling procedure was used, and descriptive and interpretivist approaches were adopted in presenting the results. Simple descriptive statistics were adopted to help build a case for using the qualitative data which sought participants’ voices, meanings, experiences, and understanding of limiting factors to learning in HEIs by DE mode. Poverty, the high cost of education, and poor time management constituted some of the limiting factors to adult learners in HEIs. The article recommends that HEIs adopt flexible terms of fee payment for adult learners and that young adult learners seek jobs and learn to save while learning in HEIs.

ANALYTICAL PROVISION OF COMPUTATIONAL OPERATIONS AND DIRECTIONS FOR THEIR IMPROVEMENT

The purpose of the article is the method of analysis of settlements with debtors and creditors and determination of directions for their improvement. Methodology. In the process of solving the tasks of scientific research, general and special methods of research were applied: descriptive-analytical method, systematic approach, method of analysis and synthesis, method of systematization, method of comparison, method of scientific generalization. Results. It has been proved that the anti-crisis management system should provide a proper approach to the enterprise's debts, for their effective management, ensure the optimal ratio of receivables and payables, prevent their overdue occurrence, systematically monitor payments. The current state of enterprise settlements is characterized by an unsatisfactory level of payment discipline of subjects of economic activity and requires strengthening of their control both by state authorities in the sphere of economic policy implementation and by enterprises themselves. It was determined that the main source of information is regulatory acts, accounting data and the main stages of analysis of accounting transactions. The analysis of the company's receivables allows to estimate the possible amount of income that can be received in the form of fines, penalties and fines from the debtors who are in arrears. Characteristics of qualitative changes of liabilities in the structure of the company's liabilities can be obtained using horizontal and vertical analysis of the balance sheet. Horizontal analysis allows to compare indicators of liabilities for different periods. The necessity of analyzing the dynamics of the accounting operations of a business entity is covered. The existence of overdue receivables, especially bad debts, which are classified as doubtful debts, as well as an unjustified increase in receivables in general, adversely affects the financial position of the Company and leads to a shortage of financial resources. Bad debts are eliminated by writing them off against the company's losses as receivables for which the statute of limitations has expired. Special attention should be paid to the date of incurrence of the payable debt, the term of its repayment, the time of delay in the return of the debt, the reasons for its incurrence. Practical implications. It is possible to accelerate the repayment of receivables by getting acquainted with the financial condition of buyers and gaining confidence in their further solvency, timely execution of settlement documents, granting discounts to buyers for shortening the terms of payment of invoices, introducing penalties for late payments, releasing goods to buyers on prepayment terms, etc. In order to effectively manage the liabilities of Trans-Market, LLC, it is necessary to monitor the ratio of receivables and payables, to monitor the status of payments for overdue receivables, to timely identify unacceptable types of liabilities, which primarily include overdue debts to suppliers, payments to the budget, etc. Value/originality. A comprehensive analysis of receivables and payables in the enterprise management system is optimal. It makes it possible to assess the real state of the company's receivables and payables, to identify "bottlenecks" in the management of this type of debt, and to develop measures aimed at reducing or recovering overdue or doubtful receivables.