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Metropolitan-Wide Governance and an Innovation District: Smart Growth Reforms to Increase Economic Competitiveness in Warsaw, Poland

Author(s): Janice C. Griffith / Language(s): English Issue: 63/2016

The Capital City of Warsaw, Poland faces several challenges in becoming a global city that thrives on innovation and high-tech, knowledge-based service industries. Almost totally destroyed during World War II, the City has reconstructed itself from scratch, but it lacks a good spatial design, and its underdeveloped infrastructure and transportation system remain problematic. Further, urban sprawl has enveloped Warsaw’s metropolitan area, and the City has no authority outside of its jurisdictional boundary lines to address this issue unless it obtains cooperation from surrounding municipalities. This article contends that Warsaw cannot be economically competitive in the global economy unless it creates conditions conducive to innovation and sustainable growth. Because the world economy is one that revolves around net-worked regional communities, the article proposes the establishment of a Warsaw metropolitan-wide regional government. Investments that improve regional connectivity, accessibility, and economic competitiveness not only improve Warsaw’s climate for innovation, but they also enhance its ability to receive European Union funding, which prioritizes integrated economic development that fosters sustainable and inclusive growth. The article also suggests that Warsaw develops a new city center, ideally in the Praga area, to become a showcase for exemplary urban design and sustainable techniques. Barcelona, Spain serves as an excellent model for such a center because its innovation district balances the urban elements necessary to create an environment in which the creative, entrepreneurial sector can work and live in close proximity, namely public amenities, public space, parks, housing, and infrastructure.

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Performance of State Owned Electric Utilities – Case of Bosnia and Herzegovina, Slovenia and Croatia

Author(s): Igor Todorović,Maja Daraboš,Mojca Duh / Language(s): English Issue: 2/2015

One of the biggest questions battling governments is performance of Electric Utilities, as they are one of the biggest resources and largest State Owned Enterprises. This issue became more important as electricity market has been liberalized and fully opened. Before market liberalization state owned Electric Utilities operated in monopoly market where competition was not possible. Therefore, due to market liberalisation existing companies have to be more competitive than before in order to grow and survive new competition from EU countries. Paper analyses performance of State Owned Electric Utilities from Bosnia and Herzegovina, Slovenia and Croatia. Measuring the success of the State Owned Electric Utilities is based on the analysis of financial statements for period from 2008 to 2012, using indicators of profitability. Electricity market in Slovenia and Croatia have been fully opened in analyzed period while electricity market in Bosnia has been closed. The results reveal that State Owned Electric Utilities operating in opened market have better performance and are more competitive than State Owned Electric Utilities which operate in closed market. The broad conclusion that emerges from the results is that market opening and new competition entering markets has pushed companies to improve their governance practices and performance in order to survive on the market.

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Service Quality Provided To Non-European High Net Worth Individuals (HNWIS) By Banks, Legal And Accounting Offices In Cyprus

Author(s): Angelos Vouldis,Eleni Zakchaiou Constantinou / Language(s): English Issue: 2/2014

Service quality leads to customers’ satisfaction and gives a competitive advantage to the firms/organisations against their rivals. Furthermore, service quality by firms in a country gives a competitive advantage to the country against rival countries as well. The global financial crisis has affected Cyprus too. The National Strategy plan for economy recovery is included as a main point the attracting of direct foreign investments by non- European High Net Worth Individuals in the island. Banks, Accounting and Legal offices in Cyprus cooperate together in providing full services to them for their corporate and wealth management needs. The aim of this research is to investigate if Banks, Legal and Accounting firms in Cyprus concern about providing a high level of service quality to non-EU HNWIs and examines the ways of implementation based on the five dimensions of SERVQUAL model.It also researches the impact of different ethnicities on service quality expectations and illustrates how this matter is treated by the firms examined. The study also investigates the priority of importance of the different service quality dimensions and emits new service quality dimensions found important for this industry in Cyprus. After studying different service quality models and different ways of research through literature review and academic resources, this research adopted a qualitative methodology. It was conducted through face-to face semistructured interviews with the managers of ten firms and organisations involved. The conclusions of the study confirm that Banks, Legal and Accounting offices in Cyprus do concern about offering high level of service quality to non-EU HNWIs however the whole infrastructure of the industry has been built mostly on Russian speaking customers’ needs. The firms are performing well in the five dimensions of SERVQUAL and ethnicity matters are taken into consideration with a different approach treatment. Responsiveness is found to be the most important dimension after reliability based again on Russians’ demand for quick service while flexibility and transparency emitted to be new important dimensions apart of pricing.

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Specifičnosti pripremanja kratkoročnog izvještaja menadžmenta u državama Jugoistočne Evrope

Author(s): Bobana Čegar / Language(s): English,Serbian Issue: 3/2021

Publication of a semi-annual management statement, according to the EU Transparency Directive, is mandatory for all listed companies in EU member states, while the originally defined obligation to present this report on a quarterly basis was abolished by amendments to this Directive in 2011. Analyzing the legislation and information published by issuers in Southeast Europe, on a sample of 225 companies from nine different countries, it could be concluded that the publication of a semi-annual management statement is mandatory in Bulgaria, Montenegro, Croatia, Romania, Northern Macedonia, Slovenia and Serbia, but not in Bosnia and Herzegovina. Almost all companies that submitted this report did so within the deadlines defined for the submission of interim financial statements and usually in such a way that both, the management statement and the financial statements, are a single document. However, in terms of the content of the interim management statement, there are significant variations, both between the observed countries and between the observed companies within the same countries.

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Ocjena uspješnosti projekata javno-privatnog partnerstva

Author(s): Željana M. Jovičić,Milko Štimac / Language(s): English,Serbian Issue: 2/2021

Public-private partnership is a form of collaboration between the public and private sectors realized by combining resources, capital and expertise, with the aim of satisfying mutual interests. The basic principle in the decision-making process on establishing a public-private partnership as a way of implementing projects is the possibility of achieving greater value for money. This is achieved through the effects of deadline shortening, increasing the quality or range of the final product, lowering the cost, but also transferring some risk from public to private partners – that is, the financial effect of that reallocation. Using the method of case studies from practice in the Republic of Srpska, the results obtained show significant doubt in the success of the application of this model, especially in sensitive activities (health sector). The main causes of the failure of public-private partnership projects have been identified: failures in the preparatory stages of contract award; oversized procedures and procedures; poor communication and coordination between participants in the process; an insufficiently developed system of control and protection of public interest; fl at estimates of economic parameters (especially discount rates) in the process of preparation and implementation of these projects.

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Mjesto i uloga industrije osiguranja u ekonomskom razvoju Bosne i Hercegovine

Author(s): Željko Šain,Jasmina Selimović,Edin Taso / Language(s): English,Serbian Issue: 2/2021

Insurance industry and insurance activity have a significant place in the economic development of any country. It is true of Bosnia and Herzegovina as well. There is a mutual correlation of proportionate character between the degree of country’s economic development and the development of the insurance industry and activity. In 2019, insurance premium in the whole world amounted to 6 trillion 292 billion and 600 million USD. Thus, a large amount of money, only based on premium, is a good reason for insurance companies to be considered as some of the greatest institutional investors in the world. Insurance has three basic functions: the function of protection, the function of mobilization and accumulation of financial resources, and the socio-economic (social security) function. Based on the official data, the paper presents comparative indicators of the development of financial markets and financial position of the insurance industry in the world, Balkan region, and Bosnia and Herzegovina. Besides a series of presented data, a particular interest is attached to the ratios of premium per capita to the share in GDP in EU27 and BiH. In 2019, EU27 premium per capita amounted to 2,122 euro, while in BiH it amounted to 112. In the same year, the share of premium in GDP was 6.81% for EU27 and 2.19% for BiH. These indicators are sufficient evidence of the power of insurance industry in the economic development of Bosnia and Herzegovina. COVID-19 pandemic is a new systematic risk and a big and complex threat. The title of the paper focuses on the impact of the current pandemic on the insurance industry and the economic development. According to Allianz Risk Barometer for (Allianz Global Corporate & Specialty − AGCS) in 2020, the diseased caused by coronavirus is in the very top of global business risks and, at the same time, adversely affects other leading business risks in the world. In this way, it also directly affects the insurance industry and the economic development.

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Стимулювання соціально-економічного та інноваційного розвитку національної та регіональної економік: врахування в принципах бюджетної системи та оподаткування

Author(s): Volodymyr Shalimov,Valerii Reshetov,Тatiana Melnyk / Language(s): Ukrainian Issue: 6 (39)/2021

The state does not carry out direct financing of innovation activities of enterprises, but it is possible and appropriate to use indirect methods of financing innovations embodied in budget and tax policies, which requires clear regulation of the relevant principles. The purpose of this article is to study the current practice of taking into account the goals of socio-economic and, first of all, innovative development in the principles of the budget and tax systems of Ukraine and substantiation of approaches to its improvement.It is substantiated that goals of socio-economic and innovative development is not properly reflected in the principles of both the budget system of Ukraine and in the principles of the tax system (basic principles of tax legislation). It is determined that direct and indirect state financial support and taxes as fiscal instruments should help stimulate economic development, stimulate and intensify innovation, but the choice of forms and methods of such stimulation needs to be justified taking into account the need to achieve specific goals. An analysis of the practices of the World Tax Code and the world practice of applying measures to support small and medium enterprises in terms of Covid-19 showed that direct state financial support is preferred in comparison with tax benefits due to clearer procedures of administration and control and further stimulation of development. It is proved that the combination of direct financial support with the using of investment and innovation tax credits with the possibility of their clear tax administration and control is the optimal mechanism in modern conditions.The directions of reforming the system of local taxation in the context of stimulating socio-economic and innovative development in the region are offered. The need to expand the powers of local governments, local authorities and local communities to establish elements of local taxes and fees, develop a mechanism for investment and innovation tax credits and other types of tax benefits that would enhance innovation in the region are substantiated. Due to the author's emphasis on the importance of clear administration and control of financial and tax support, the prospects for further research are the development of economic and mathematical models for evaluating the effectiveness of such systems.

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Ключові елементи механізму державної фінансової підтримки сільськогосподарських товаровиробників

Author(s): Dmytro Shynkar / Language(s): Ukrainian Issue: 6 (39)/2021

The aim of the article is to study the peculiarities of the domestic system of state financial support of agricultural producers and highlight on this basis the conceptual approaches to the formation of the mechanism of state financial support of agricultural producers with the definition of its key elements.Based on the analysis of normative legal acts, the peculiarities of providing state financial support to agricultural producers throughout the period of Ukraine’s independence were clarified and the evolutionary transformation of forms of such support was established. It was found that for a long time financial support to agricultural producers was provided mainly in the form of indirect support, based on the use of a system of tax benefits (there was a special tax regime in the form of a fixed agricultural tax and a special value added tax regime). Only in recent years, after the abolition of the special regime of value added tax, direct support for agricultural producers became a priority. Analysis of the effectiveness of state support for agriculture, based on data from the Organization for Economic Cooperation and Development, shows that compared to EU countries, the level of state financial support for agricultural producers in Ukraine remains quite low, and the assessment of support indicates its inefficiency. In order to solve the problems of ensuring the effectiveness of state financial support for agricultural producers, the feasibility of forming a mechanism of state financial support for agricultural producers is substantiated, conceptual approaches to its construction and content are identified and key elements are identified.Based on the author's approach to understanding the concept of "mechanism" and highlighted domestic features of providing state financial support to agricultural producers, the author's interpretation of the concept of "mechanism of state financial support of agricultural producers" is proposed. This a mechanism is a system of financial relations that arise between the state and agricultural producers in the relevant institutional environment, based on certain principles and conditions, provide for the use of forms and tools that can stimulate agricultural production and provide favorable conditions for agricultural development.

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Fiscal Policy, Monetary Policy and Price Volatility: Evidence from an Emerging Economy

Author(s): Le Thanh Tung / Language(s): English Issue: 23/2021

Vietnam is an Asian emerging country, which now is ranked in the group of the fastest-growing economies worldwide. However, this economy has faced galloping inflation in recent years. So the Vietnamese experience is a valuable reference for the policymakers in the developing world in order to successfully control price volatility. Our study applies the Vector autoregressive method, the Johansen cointegration test, and the Granger causality test to examine the impact of fiscal and monetary policy on price volatility in Vietnam with a quarterly data sample collected over the period from 2004 to 2018. The study results confirm the existence of a long-term cointegration relationship between these policies and price volatility in Vietnam. Besides, the variance decomposition and impulse response function also show that the impact of these policies on inflation is clear, however, the fiscal policy more strongly affects inflation than the monetary policy. Finally, the Granger causality test also indicates one-way causality relationships from the government expenditure as well as the exchange rate to price volatility in the study period.

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Indian banking industry: a new evidence from a profitability perspective

Author(s): Shailendra Rai,Miia Chabot,Jean-Louis Bertrand,Imlak Shaikh / Language(s): English Issue: 2/2021

While India is set to become the world’s most populous country by 2050, it is also the home to the world’s largest number of unbanked individuals. This paper aims to investigate the profitability issue with a focus on public banks. Using a new methodology based on comparisons tests and panel analysis that test unobserved heterogeneities between banks. We show that public banks are not low performers, nor can private banks be considered high performers Finally, we show that the proportion of non-performing assets (NPAs) is a real concern and requires urgent attention of government and regulators for Indian banks to serve profitability their home market. Banks that make more profits on non-interest income are not necessarily less profitable than others. Further, outcomes favour the ideas that if public banks are able to clean-up their non-performing assets as well as follow a sound prudential regulation, their profits could strongly grow. Future reforms must consider the public bank’s key role in the growth of the India’s economic outlook, especially when it comes to projects of social importance and national priority. The study is based on 105 banks with cross-sections from 2003–2016; however, India’s government has initiated reforms in the banking segment, which has led to a significant decrease in government stake and the number of banks.

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Working Capital Management and Firms' Profitability (A Study of Selected Consumer Goods Manufacturing Companies in Nigeria)

Author(s): Vanessa Onyinyechukwu Mache,Cordelia Onyinyechi Omodero / Language(s): English Issue: 5/2021

The importance of working capital management cannot be overstated since ineffectiveness leads to corporate bankruptcies all over the world. The purpose of the research was to see how working capital management affects the profitability of companies in Nigeria’s consumer goods manufacturing sector. For a period of six years, relevant secondary data was collected from published annual reports of the 16 publicly traded firms under investigation between 2014-2019. The analysis approach used in this study was the panel least square regression model, which was combined with the Pearson’s correlation model. The findings of the research demonstrate that the cash conversion cycle (CCC) has no effect on profitability. The study also discovered that inventory conversion cycle (ICC) and profitability have a negative and significant association, whereas average payment period (APP) and profitability have a negative and insignificant connection. Managers should pay close attention to the working capital components, as shown by this study, to eliminate inefficiency and guarantee optimal levels.

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Podatek dochodowy od osób fizycznych jako źródło dochodów miast wojewódzkich – kontrowersje wokół zasad podziału

Author(s): Dorota Wyszkowska,Adam Wyszkowski / Language(s): Polish Issue: 3/2021

In the literature, there has been a discussion for years on the legitimacy of granting shares in central taxes to local government units (LGUs) as a source of revenue, and including them in their own revenue. Despite the fact that local authorities consider of this type of revenue sources as a good one, they see a problem in the principles of their distribution. In the case of the Polish personal income tax (PIT), funds are allocated to units according to the taxpayer’s place of residence, which means that many people who use local public goods and services from one unit pay the income tax allocated to another one. This applies especially to large cities. The paper characterizes the share in PIT as a source of revenue for municipalities in Poland and estimates the amount of funds lost by municipalities as a result of pointed problems resulting from the adopted method of this revenue distribution between units. Voivodeship cities were chosen as the subjects of the research, and the time scope covered the years 2016 and 2011. The data used to estimate the amount of potential revenue loss of cities come from the resources of the Central Statistical Office and the Ministry of Finance. The estimates confirm that the loss of potential revenue from the analysed source would have a significant fiscal impact for voivodship cities. They would constitute slightly more than 3% of their own revenue and nearly 8% of revenue from participation in PIT.

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Determination of the Thought Structures of Accounting Professionals about the Prevention of the Tax Losses and Leaks: A Research in Adıyaman

Author(s): Beyhan Kılıncer,Ahmet Karahan / Language(s): English Issue: 3/2021

Taxes are one the most important sources that make up the financial system of modern states. According to Article 73 of the Constitution of the Republic of Turkey; "Everyone, in order to meet the public expenditure according to his financial power, has to pay taxes." The regular collection of taxes can be possible thanks to the creation of tax awareness and morality in the society, as well as effective legal regulations, practices and audits. Acting as the enforcers of tax laws, professional accountants have important roles in the execution of tax transactions. The aim of this study is to reveal the mentality of the professional accountants managing the process of converting income to tax in preventing tax losses and evasion. For this purpose, a questionnaire method was applied to the professional accountants operating in Adıyaman. The most important feature of this study is that it handles the thinking structures of accounting professionals about the prevention of tax losses and evasion in six comprehensive frameworks in order to achieve the purpose of the study. As a matter of fact, the questionnaire applied to professional accountants consists of the following parts: 1)demographic characteristics, 2)frame of mind about tax losses and evasion 3)structure of thinking about situations that cause tax losses and tax evasion 4)structure of thinking on the prevention of tax losses and evasion 5)an overview of the relationship between the fight against tax losses and evasion and the accounting profession 6)expectations from accounting training in preventing tax losses. The data obtained from the surveys were analyzed with the SPSS program. According to the results obtained from the research, the mentality of the accounting professionals in the prevention of tax losses and evasion was revealed. In addition, according to the findings of the research, suggestions were made to the policy makers for the tax institutions to carry out their duties to prevent tax losses and evasion more effectively.

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Економічна політика держави

Author(s): Andriy A. Hrytsenko / Language(s): Ukrainian Issue: 47/2021

The author has explored the relevance, theoretical substantiation, methodological and practical significance of the textbook «Economic Policy of the State», prepared by the team of authors of the Kiev National Trade and Economic University. The author has analyzed its content and structure, logic, scientific and methodological foundations of the presentation of educational material. It is determined the role of the textbook in the formation of students and citizens of Ukraine of economic thinking and scientific approaches to solving socio-economic problems in the formation of an information-network economic system. The author has reasoned the high assessment of the textbook and recommendations for its use by higher educational institutions in the educational process.

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FISCAL POLICY PERFORMANCE AND ECONOMIC DOWNTURN – THE EXPERIENCE OF THE EUROPEAN UNION COUNTRIES OUTSIDE THE EURO AREA

Author(s): Agata Szymańska / Language(s): English Issue: 121/2021

Background: In recent years, imbalances in public finances have been building up in many countries of the European Union, and it has been influenced by, among others, the expansionary fiscal policies implemented during the economic downturns. The beginning of the 21st century was affected by two severe recessions caused by shocks of different natures. Therefore, there is an interest in comparing how fiscal policy was conducted before and during both recessions. Research purpose: The paper aims to identify changes in fiscal policy and the main causes of these changes in six Central and Eastern European countries outside the euro area, i.e., Bulgaria, Czechia, Croatia, Hungary, Poland, and Romania. The focus is on comparing the paths and developments of fiscal policy aggregates before and during the two recessions that occurred in the first decades of the 21st century. Methods: The evaluation of fiscal policy is based on a large (full) sample, which covers 2004 to 2019, and sub-samples, which allows for an evaluation of fiscal policy before the two downturns, i.e., before the economic crisis from the first decade of the 21st century, and before the “COVID-19” crisis. The main attention is paid to analyzing the changes in debt development, changes in the budget balance against the background of the cyclical indicator – fiscal stance, and evaluating domestic fiscal rules in the context of fiscal governance, and recognizing the scale of fiscal imbalances. The data used are mainly based on the AMECO database. Conclusions: The comparison of the fiscal policy performance in the period one year before both crises shows that almost all countries under consideration in 2008 conducted a procyclical policy, whereas in 2019, the fiscal policy was procyclical in all six countries. Regardless of the fact that in recent years the countries increased the number of national fiscal rules, especially domestic budget balance rules, the fiscal policy stance was somewhat procyclical. Moreover, the analyzed countries have large disparities in the level of debt-to-GDP ratio.

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Impozitarea veniturilor persoanelor fizice pe bază de norme de venit

Author(s): Delia David,Luminiţa Păiuşan,Ștefania Amalia Jimon / Language(s): Romanian Issue: 1/2022

The purpose of this paper is to present the specific features of income taxation of the self-employed population, based on income thresholds. Income thresholds are a fixed amount established by the General Regional Directorates of Public Finances for several economic activities performed by self-employed population and represent the taxation base for the income tax of self-employed persons. Our objective is to provide some guidelines on this method of taxation, given the increase of self-employment in recent years in Romania.

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VALSTYBĖS SKOLOS RODIKLIŲ IR SKOLOS ĮTAKOS EKONOMIKAI TYRIMAS LIETUVOJE

Author(s): Aida Barkauskaitė,Antanas Šimkus / Language(s): Lithuanian Issue: 2 (44)/2015

Government borrowing is inevitable when a country faces a lack of financial resources. The characteristics of public debt, its advantage and impact on a country’s economy have been analyzed by such researchers as Buškevičiūtė, (2008), Martin (2009), Karazijienė & Sabonienė (2009), Rosen & Gayer (2010), Kumar & Woo (2010) but scientific literature on changes in public debt indicators and their impact on Lithuania’s economy have been lacking. The rising costs of servicing public debt inevitably means that a country will have to collect bigger revenues and impose higher taxes for both, individuals and entities. The aim of this research is to identify trends in public debt and the impact of debt indicators on Lithuania’s economy. Research methodology: scientific literature overview, comparative analysis, graphical data analysis. The research showed that although economic indicators for Lithuania improved during 2010-2013, its public debt continued to rise. During 2006-2012 interest rate also showed a growth tendency. The situation changed in 2013 when interest rate reduced by 6.1%. Most of public debt indicators such as interest rate, the debt-to-GDP ratio, budget expenditure, etc. improved during the analyzed period, the debt-to-GDP ratio, for example, increased more than two times. It should be noted that in 2013 public debt indicators showed a downward tendency compared to the previous year and public debt slightly decreased. Analysis shows that government can make a significant impact on a country’s economy, a strong positive correlation was identified between public debt and GDP, the unemployment rate and deposited amounts but no statistically significant linear correlation was identified between public debt and the inflation rate. A country’s government should understand the significance of public debt and carefully assess its impact on a country’s economy and population when taking a decision to borrow.

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Solidaritatea europeană în vremea COVID-19

Author(s): Lavinia Adriana Grecu / Language(s): Romanian Issue: 17/2021

This article aims to review the main components of the Conference on the Future of Europe. Even if we are tempted to believe that this is the exercise filed by the European institutions, we will find in this article that, over time, this process of reflection has been the cornerstone of the successive changes operated to the EU Treaties. The current consultation process was initiated by Jean Claude Juncker, the former President of the European Commission. The initiative was later taken over by President-in-Office Ursula von der Leyen. Whether or not it will be a success, time will tell.

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STAKEHOLDERS' SATISFACTION MEASUREMENT IN THE ENVIRONMENT OF PUBLIC HOSPITALS’ NURSING SERVICES

Author(s): Maria Oikonomidou,Ilias Konstantinidis / Language(s): English Issue: 1/2022

The purpose of this study is to examine the satisfaction of three stakeholders (the nursing staff, the heads of nursing units and the patients) in order for the management to collect the necessary data and foster a culture of accountability and continuous learning with regard to the provision of healthcare services. With the dissemination of such organizational culture, top management can develop a philosophy and mentality that promotes the continuous improvement of nursing services. The answers were collected via three questionnaires that were distributed to a variety of population groups, namely: a) the heads of nursing units, b) the employees (nursing staff), and c) the patients were served at the Public General Hospital of Serres, in Northern Greece. The subject in question was examined using the six point-Likert scale and quantitative methods have led to the collection of reliable data. The current study explored the relationships between organizational procedures' operation by the top management with employees' and patients' satisfaction. Results of the analysis show that the continuous improvement of the organizational procedures significantly affects the positive perceptions of the nursing staff. On the other hand, the results revealed that there aren't significant relationships between the aspects of patients' satisfaction with the nursing staff's satisfaction. Management planning in healthcare services is absolutely essential, and the process of planning depends on the identification of organizational goals in relation to the implemented procedures. The motivation of the nursing staff and the continuous improvement of procedures depend on the continuous measurement of procedures through the feedback based on staff's perceptions.

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The Effect of Risk Control Techniques on Organisational Performance of Selected SMES in Lagos State

Author(s): Sunday Adekunle Aduloju,Oluwaleke Ebenezer Akindipe / Language(s): English Issue: 1/2022

The aim of the study is to evaluate the effect of risk control techniques on organisational performance of selected SMEs in Lagos State. The specific objectives are to considers the effect of physical risk and financial control techniques on organisational performance of selected SMEs in Lagos State, Nigeria. The study is limited to the effect of risk control techniques on the performance of SMEs in Lagos State, Nigeria. The precise variables of interest are the physical risk control techniques which are risk elimination and risk reduction as well as the financial risk control techniques which focus on risk retention and risk transfer. The study covers 10 major clustered markets in Lagos State where there are selected SMEs ranging from Oil and gas, manufacturing companies, service companies and general merchandise in Lagos State. The study employed a survey research design and adopted a convenience sampling method of selection and multi clustered method was used in selection. A survey monkey was used to administer the questionnaire to the sample respondents. The hypothesis was tested using regression analysis through the use of SPSS and the results showed that there is a positive and significant correlation. relation and effect of physical and financial risk control on organisational performance of selected SMEs. It was concluded that SMEs should embrace all efficient and economic means to address the potential risk that can threaten their existence. It was recommended that SMEs should increase its risk appetite to enhance efficient management of their business.

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