We kindly inform you that, as long as the subject affiliation of our 300.000+ articles is in progress, you might get unsufficient or no results on your third level or second level search. In this case, please broaden your search criteria.
• I. The "internal / external debt" dichotomy; • II. Brady Bonds on Bulgarian Foreign Debt; • III. Swap operations; • IV. The legal framework of debt-to-equity swap; • V. Replacing internal and external debt against property.
More...
The purpose of the paper is to analyze the content and presentation of the main requirements for the import summary declaration to the specific implementation of foreign trade operations.The article reveals the essence and role of import summary declaration (ENS) in the process of prior notification of the movement of goods. It was analyzed the information provided to ENS depending on the type of vehicle which transported goods and the availability of special status. The timing and the presentation of the import declaration and brief outline procedures for submitting and correcting information in it were shown.Based on the research conclusions can be drawn that the introduction of a prior notification of the movement of goods across the customs border involves establishment of appropriate regulatory preconditions, establishing communication linkages between the customs authorities and participants of foreign trade activities and provide the necessary information resources and technologies that ultimately will simplify customs procedures and ensure the appropriate level of customs security.
More...
The article is focused on the legal analysis of the current stage of the development of the international financial system. The forms, principles, and standards of interaction of the subjects of the international financial system are studied.
More...
Taxation is one of the most effective instruments of governmental regulation during periods of economic crises and social instability. Tax regulation is an important mean of indirect state influence state on different aspects of social and economic development and taxpayers’ activities and can act as a stimulating and restraining influence on insurance activity through taxation of its financial results. The effectiveness of such influence is indirectly, through positive or negative changes in the performance of insurance activity indicators. The vector of change of these indicators should correspond to the direction of tax regulation and correlate with the corresponding indicators of the tax payments amounts. The multidimensional impact of taxes on the results of insurance activities in a dynamic social, economic and institutional environment in Ukraine necessitates the continual updating of analytical researches on the effectiveness of tax regulation in order to enhance its stimulating effect on the insurance sector. The subject of the study is a set of indicators that characterize the impact of tax regulation on insurance activity in Ukraine through the mechanism of income taxation of its financial results. The aim of the study is to analyze the current state of tax regulation of insurance activity and update its perspectives in Ukraine. Methods of observation, analysis, comparison and logical generalization were used in the study. Financial indicators that characterize the effectiveness of insurance companies as well as tax liabilities on corporate income tax in terms of types of insurance activities are analyzed in the study. Also the analysis of macroeconomic indicators that characterize the tax burden on insurers on corporate income tax and theirs share in the corresponding revenues to the budget is conducted. On the basis of the correlation of the identified trends in the insurance activities and their taxation at the micro and macro levels, the regulatory impact of income taxation on insurance activities is assessed. According to the results of the study, it was concluded that there is no clear correlation between the indicators characterizing the payment of taxes by insurance companies and the financial indicators of their activities, which is explained by complicated, ambiguous and volatile mechanism of calculation of this tax. At the moment the actual mechanism of tax regulation can not be called effective either in the stimulus or in the fiscal aspect. However, the decision to cancel this mechanism should be based on systematic and long-term analytical observations. Taking into account the results of the study, an important direction for further research on the issues of tax regulation of insurance activities is the justification of such a mechanism of insurers’ taxation, which will ensure the combination of adequate tax burden with the maximization of their financial results. The improvement of this mechanism should take place in terms of general stimulation of insurance activity and insurance investments as well as an increase in counteraction to the outflow of insurance capital in the offshore. The results of the study can be used in drafting amendments and additions to the Ukraine's legislation regulating insurance activity and the procedure for its taxation as well as in preparation government programs for the insurance market development.
More...
Subject of research is the current state of activity of domestic banks of Ukraine and ways of their effective investment activities. The purpose of the article is to study and characterize the ways of effective management of the bank's investment strategy. Methods used in the research process: method of system-structural analysis and synthesis, method of comparative analysis, generalization, general science, special methods of scientific knowledge and other research methods. Study results. Credit institutions in world practice are a significant segment of the investment market and play a significant role in this process. One of the components of effective management of a modern banking institution is the implementation of effective investment activities, which requires the selection of an effective investment strategy. The imbalance of domestic banking processes, as shown by domestic and international practice, is often the main prerequisite for the development of a crisis situation in an individual bank, is a threat to the stable development of the banking sector as a whole. One of the main problems in the functioning of domestic commercial banks is the instability of the economic situation in the country, namely declining GDP growth, inflation and devaluation of the national currency, which in turn led to the outflow of bank deposits, bankruptcy of many commercial banks in Ukraine, Covid-19. Over the past year, Ukrainian commercial banks have allocated about 17% of total bank assets to invest in securities. For many years, there has been a negative decline in the share of the banking sector in investing in securities, but there has been an increase in total assets of banks in Ukraine. In addition, the positive point is the increase in the share of investments in securities in the total assets of banks over the past two years, namely from 13.97% in 2020 to 16.88% in 2021. The strategy of the bank's investment activity is an integral interconnected structured complex (system) of consecutive actions (balanced management decisions) under resource constraints, which is aimed at forming long-term effective investment activities of the bank, strengthening the bank's competitive position in the investment market. Application of results. The results of the study can be used in the activities of the Ministry of Finance of Ukraine, the Verkhovna Rada of Ukraine, the National Commission on Securities and Stock Market, in the activities of banking institutions, as well as in higher education institutions in teaching economic disciplines. Conclusions. Thus, there is an extremely high degree of risk in the activities of commercial banks, and managerial errors can lead to the most serious consequences - so effective management for commercial banks becomes especially important. However, the key components of the theory of banking management are still poorly implemented in the practice of most domestic commercial banks. This also applies to the aspect of this theory, which is related to the management of the investment banking portfolio. Thus, the adaptation of the theory of investment portfolio management of commercial banks to the specifics of the Ukrainian economy is an unalterable necessity.
More...
The subject of research is theoretical and practical peculiarities of the property insurance market in Ukraine.The purpose is to analyse the current trends of the market property insurance operation, to identify ways and opportunities for further development.Methods and methodology of research. The study is based on the use of scientific methods, economic and statistical method sand the methods of dialectics.The results. There are an analysis of the results of the insurance operations of insurance companies and summarize the current state of operation of the market property insurance in Ukraine identified are as for fur the reform, the system of measures to enhance the role of insurance companies in the field of insurance protection property of individuals and legal entities, increased collected premiums recommended mechanisms to ensure claims paid by insurers. These cope of the results. The results contribute to the development and decision-making in the management of insurance companies, government regulation and super vision of insurance activities. The conclusions. The modern aspects of the property insurance market in Ukraine highlights the key issues of insurance companies that restrain their development, the ways of improving the conditions for insurers and practical steps regarding the development of property insurance in the economy.
More...
The article investigates the modern methods of evaluation of bank personnel in order to improve personnel management in the banking sector in restructuring banking banking institutions and the way out from the current financial crisis.It is regarded in this article about the essence, the meaning and the use of evaluation methods of bank personnel to improve the effectiveness of the recruitment and training system in banking. The methods for assessing bank personnel contribute to ensure the collection, recording and measurement of relevant information about an employee of a commercial bank. The system of evaluation of personnel is considered. A scheme of the components of personnel assessment is built. Classification of methods of assessment staff is selected. The modern methods of assessment staff are consideredIt is necessary for improving the efficiency of evaluation of bank personnel: the spread of modern methods of assessment for all categories of personnel, extension personnel access to the results of its evaluation , the active involvement of personnel in the process of evaluation by engaging introspection activities and the development of measures to improve the operation , expansion of the evaluators, as which, in addition to the supervisor, often acting senior managers, colleagues, subordinates , customers results. Using the methods of evaluation of bank personnel it is formed the necessary information base for decision-making of the personal character that will enhance the effectiveness of recruitment and training system.
More...
The purpose of this article is the analysis of modern crisis phenomenon in the banking system of Ukraine, the definition of the directions and functions of the Central banks on crisis management of the banking system in the conditions of financial instability at the level of management defining crisis management strategy of the Bank.In the article theoretical bases of crisis management in the banking business, the essence of the concept of "crisis management" were analysed. According to the NBU, the analysis of the current state of the banking system of Ukraine and its problems was carried out. The areas to strengthen the role and functions of the NBU strategic development and crisis management in the banking and financial system in the conditions of financial instability were identified. Crisis management strategy of the Bank on the level of management was defined. For the diagnosis and prevention of banking crises should be the strategic directions, programs and forecasts of the economic development of the country. Further research need further development of scientific-methodical approaches to crisis monitoring of the financial condition of the Bank and development of practical recommendations on plans to respond to the crisis.
More...
The subject of the research is theoretical and practical aspects of the insurance market of Ukraine.The purpose of this article is to analyze the current trends of functioning of the insurance market, to identify trends and mechanisms of further reform.Methods and methodology of research. The article is based on the use of scientific methods, dialectic methods,economic and statistical methods.The results. There are an analysis of the results of the insurance operation of insurance companies and summarized current trends functioning of the insurance market of Ukraine. This article also revealed areas for further reform of the insurance market and the mechanisms enhance the role of insurance companies in the field of insurance protection for individuals and businesses in order to increase investment in the economy.The scope of the results. The results can be used in the development and decision-making in the management of insurance companies, government regulation and supervision of insurance activities.The conclusions. The article contains description of current trends in the insurance market of Ukraine and the key problematic aspects of insurance companies that hinder their development. Also suggested areas of improvement conditions of the functioning the insurers and practical steps regarding the development of the insurance industry in the economy.
More...
The article explores the main aspects of the foundations of innovative development of banking business in Ukraine. The authors determined the key characteristics of innovative models of banking business based on the use of modern payment technologies, applications and services, and outlined the prospects for building models based on blockchain technology and biometric technologies.The article explores the main aspects of the foundations of innovative development of banking business in Ukraine. The authors determined the key characteristics of innovative models of banking business based on the use of modern payment technologies, applications and services, and outlined the prospects for building models based on blockchain technology and biometric technologies.
More...
The scientific material commented on the different perspectives for choosing scenarios for stress testing of financial systems. Emphasis is placed on the experience and proposals of the US Federal Reserve, the European Central Bank, the National Banks of England and Kazakhstan. Stress testing involves running simulations to identify hidden vulnerabilities. The literature about business strategy and corporate governance identifies several approaches to these exercises. Among the most popular are stylized scenarios, hypotheticals and historical scenarios. In a historical scenario, the business - or asset class, portfolio, or individual investment - is run through a simulation based on a previous crisis. Examples of historical crises include the stock market crash of October 1987, the Asian crisis of 1997 and the tech bubble that burst in 1999-2000. A hypothetical stress test is generally more specific, often focusing on how a particular company might weather a particular crisis. For example, a firm in California might stress-test against a hypothetical earthquake or an oil company might do so against the outbreak of a war in the Middle East. Stylized scenarios are a little more scientific in the sense that only one or a few test variables are adjusted at once. For example, the stress test might involve the Dow Jones index losing 10% of its value in a week. The Federal Reserve Board conducts supervisory stress tests to help ensure that large bank holding companies operating in the United States will be able to lend to households and businesses even in a severe recession. The tests are known as the Dodd-Frank Act stress test (DFAST) and the Comprehensive Capital Analysis and Review (CCAR). The European Banking Authority (EBA) published the results of the 2018 EU-wide stress test, which involved 48 banks from 15 EU and EEA countries, covering broadly 70% of total EU banking sector assets. The adverse scenario has an impact of -395 bps on banks' CET1 fully loaded capital ratio (-410 bps on a transitional basis), leading to a 10.1% CET1 capital ratio at the end of 2020 (10.3% on a transitional basis). In the 2018 stress-test scenario, UK GDP falls by 4.7%, the UK unemployment rate rises to 9.5%, UK residential property prices fall by 33% and UK commercial real estate prices fall by 40%. The cenario also includes a sudden loss of overseas investor appetite for UK assets, a 27% fall in the sterling exchange rate index and Bank Rate rising to 4%. Major UK banks have continued to trengthen their capital positions. They started the 2018 stress test with an aggregate common equity Tier 1 (CET1) capital ratio nearly three and a half times higher than before the global financial crisis. The global financial crisis exposed serious bank vulnerabilities in Kazakhstan. In the run up to the crisis, the economy grew at a high rate but the non-tradable sectorparticularly construction expanded at an unsustainable pace on the back of a surge in bank credit and an appreciating real exchange rate. Credit was financed largely through external wholesale funding and a sizeable increase in bank leverage. As the crisis erupted, external funding dried up orcing banks to deleverage aggressively. This led to a marked deceleration in non-oil economic activity and a rapid deterioration in banks’ assets. These effects were ompounded by the impact of the 2009 devaluation on credit risk and banks’ external indebtedness.
More...
Conference proceedings book from Scientific and Practical Conference, dedicated to the 95th anniversaryof the establishment of the Accounting Departmentat University of Economics – Varna, Bulgaria
More...
Seasonality is analyzed as the main element of the most mass tourism types. Events are defi ned as an essential part of the tourist development of destinations, a factor for attracting visitors, promoting investment, improving the image and revitalizing the local economy. The effect of this development can be twofold: on the one hand, by identifying and discussing the main concept of events, it will contribute to the enrichment of scientifi c knowledge in the fi eld with potential for future research work. On the other hand, it can be benefi cial to destination managers as it will offer a better understanding of the importance of conducting unique events for the formation of destination image, seasonal decline, and the development of a sustainable economy based on tourism.
More...
In October 2011, Eurozone leaders agreed on a second bailout for Greece totaling EUR130 billion. Similar to the first loan, this one is accompanied by a number of conditions to the Greek government. The significant difference between the two loans stems from the fact that the debt to private creditors must be restructured in order to reduce the amount of the Greek debt. The ratification of the second rescue loan by all parties took place in February 2012. Its amount attempts to cover all the obligations of Greece in the next three years from 2012 to 2014. If the country manages to meet all the economic objectives set out in the rescue plan, it will be able to again make use of benefits and resources acquired on the international capital markets in order to meet its financial needs in 2015.
More...
The aim of the paper is carrying out of survey for cooperation among banking supervisors based on the model of cooperative games. The initial measures of supervisors are aimed at rescuing the banking assets in their territory and to reduce losses to local taxpayers. The new reality demands these measures also to take into account the effects on other countries, and the need for cooperation among banking supervisors through ex-ante engagements for sharing ex-post costs.The results of paper show that the original measures to reduce the effects of global crisis have triggered short-term stabilization of the banking system at predominance of national interests. Using game theory for cooperation among banking supervisors leads to optimization of outcome for all countries participating in the ex-ante engagements. From the concrete case for a Bulgarian bank, part of an EU banking group, we have concluded that cooperation among more than two supervisors is recommended depending on the structure of the banking group.
More...
Time banking recognizes that every member of a community has something to offer others and that all of us will, from time to time, need some extra help. Unlike a traditional job - paid or voluntary - at a time bank everyone’s time is equally valued and rewarded. One hour equals one time credit that can be deposit at the time bank and can then be spent on services we would like another member of the time bank to do for us. Time banking is not intended as an alternative to the mainstream economy or to our public services. It is complementary to them and rewards the everyday acts of support that happen in our communities. Time banking provides a new kind of mutual insurance scheme - we all pay in with our time and then take out the help that we need.
More...
In this article, the case of the economic crisis of Valenza (Italy) and its jewellery industry is presented. The crisis has occurred since 2008 as an effect of the plunge of international jewellery market. Drawing from ethnographic materials collected during my fieldwork in the city (2008-2010), I intend to point out that an the most recent economic downturn had strong cultural effects on local population (goldsmiths and others). Following Kant’s concept of category of reason, I will show that the crisis itself had become a category of reason for local population that uses it to make decisions and plan their future.
More...
The article is devoted to topical interrogation tactics during the investigation of legalization (laundering) of proceeds from crime. They are using virtual currencies as one of the most common investigative (search) actions. Particular attention is paid to the tactics of questioning witnesses, suspects and the accused. The directions of improving different aspects of interrogation tactics during an investigation of legalization (laundering) of proceeds from crime in the conditions of using virtual currencies are offered.
More...
The development of the municipal privatization process in 1996, despite its uneven pace and regional disparities, should be assessed positively. 2079 privatization procedures have been identified, of which 23 are for whole enterprises. The terminated procedures are 43. 121 contests for appraisers were announced. 2642 privatizations have been assigned. 2725 assessments have been adopted, some of which were awarded in 1995, 2575 privatization deals were concluded, of which 18 were for whole municipal companies.
More...
The current report is focusing on the analysis of the dynamics of loans disbursed to non-financial corporations by commercial banks in Bulgaria. The period covered by the study is 2007 – mid-2014. The key factors forming the trends in bank lending to the business are reviewed. On this basis the main problems and prospects for growth of corporate loans are concluded.
More...