Ekonomika
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INSOLVENCY OF AN ENTERPRISE AND METHODS OF FINANCIAL ANALYSIS FOR PREDICTING IT
Get PDFThe purpose of this article is to draw attention to the topical problem of entity-level insolvency and the insolvency prediction models. Definitions, symptoms, causes and factors affecting insolvency, suggested by various authors, are reviewed. The impact of enterprise insolvency on a country’s economic growth is weighed up. Finally, the article presents the authors’ research work in the field of testing various enterprise insolvency forecast models and a system of insolvency prediction methods. Recommendations of possible solutions, based on the conclusion drawn from the research, are put forward
THE PRACTICE OF USING HOUSEHOLD SURVEYS FOR ESTIMATING UNDECLARED EMIGRATION
Get PDFIn the modern world of globalization, emigration has become one of the most vital events that should be reflected in the population statistics due to its impact on the size and structure of the country’s population. The importance of correct evaluation of emigration is very high because, by influencing the efficiency of government policy making, it can help to avoid the negative consequences of emigration. However, many national statistical institutions of different countries fail to provide accurate statistics on emigration because of various obstacles which arise in the usage of administrative data sources. Politicians, researchers and experts engaged in the analysis of demographic development and the migration phenomenon are especially not satisfied with the amount and quality of the current statistical information provided by the official statistics. One of the important tasks for every NSI is not only to reflect the stocks and flows of emigrants, but also to provide their demographic and socioeconomic characteristics for the in-depth analysis of the determinants and consequences of emigration. Unfortunately, administrative data sources are usually unable to provide reliable statistics on the volume of undeclared emigration as well as on the characteristics of emigrants. Thus, the article discusses the benefits of conducting household surveys for obtaining information about characteristics of emigrants and filling this gap.p
ASSESSMENT OF CHANGES IN THE TURNOVER OF LITHUANIAN RETAIL TRADE ENTERPRISES IN 2001–2008
Get PDFThe paper presents an analysis of the methodological side of assessing the turnover of Lithuanian retail trade enterprises, i.e. the indicators to be employed in assessing changes in the volume and composition of the turnover over a longer term, their relationship with other national economic indicators, as well as their theoretical and practical significance. The analysis of changes in the volume and composition of the turnover of Lithuanian retail enterprises in 2000–2008 has revealed its positive and negative trends and the factors influencing these changes. The period under consideration is remarkable in that the years 2000–2001 marked the recovery of the Lithuanian economy after the financial crisis in Russia, its growth until the third quarter of 2008 and the beginning of its decline. The paper summarizes trends in and problems of changes in the volume and composition of the turnover of the country’s retail trade enterprises in the period under consideration and shows the possibilities for its development
RELATION BETWEEN LIFE SATISFACTION AND GDP IN THE EUROPEAN UNION
No full textIn the paper, relation between GDP and subjective well-being, expressed as personal life satisfaction is analysed. On the basis of the European Union data from 2000 to 2009, the so-called Easterlin’s paradox, which claims that life satisfaction stays flat in face of the increasing wealth of nations, is tested. The test is carried out using aggregated country level data on life satisfaction from a Standard Eurobarometer survey and GDP per capita data. Both the cross-country correlation and the within-country trends’ regression analyses show that the GDP level is positively related to the level of life satisfaction. Although the relation is particularly strongly expressed in Eastern European countries, it also stays positive in many more prosperous EU countries. Nevertheless, further studies on factors influencing the shape of relation are necessary to explain exceptions from the relation. The authors also suggest a possible necessity to find more sensitive indicators of life satisfaction to measure it more accurately in the future
ECONOMIC GROWTH IN THE LARGE AND SMALL-SCALE ECONOMIES AND THE ROLE OF RESOURCES IN CONVERSION OF ENERGY-ORIENTED TO INNOVATION-DRIVEN ECONOMY
Get PDFThe article deals with the economic growth in different scale economies, namely, resource-abundant and resource–driven countries and chances for the conversion of the latter into the knowledge-based mode of development. The paper deals with two problems 1) economic growth in different groups of the small-scale countries of the world economy through the estimate of the historical context ; 2) dynamics of the assessment in small and large transit economies.The goal of the article is to promote the idea of the resource-rich economies which find themselves at different stages of overcoming transitivity from the curse to the blessing type of economic growth. The hypothesis of the article is that sustainable economic development and continuous economic growth in transit economies could be achieved by means of the formation of the rent capitalism model in the large resource-rich countries. The methods used in the article are analysissynthesis, historical and logical methods of investigation, methods of international comparisons. The main conclusion of the article is that due to the formation of rent capitalism model growing gigantic countries play a predominant role in the world economy and in the global financial markets gaining the role of the savior during the expansion of the global financial crisis
COMPETITIVE IMPACT OF FOREIGN BANKS ON FINANCIAL MARKETS IN TRANSITIONAL ECONOMIES: THE CASE UKRAINE
Get PDFThe scale, the major economic indicators and the competitive impact of foreign banks on the national banking system of a transitional economy, based on the case of Ukraine, are studied.The banking sector development of the transitional economies differs from that of developed countries. Transitional economies have the bank-centered financial systems with the prevailing banking sector, a rapidly growing demand for banking services, booming credit supply, weak institutional and regulatory policies causing problems with banking stability. The intensive entry of foreign banks and their increasing market share have a significant impact on banking competition and performance.The paper argues that the foreign banks’ entry by the acquisition of Ukrainian banks’ shares is competitive by nature (demand-side competition and supply-side competition on the entry stage and post-entry market competition). The entry competition influences the relatively high price indicators of the Ukrainian banks shares in comparison with neighbouring countries. The post-entry competitive position of foreign banks is based on utilizing their competitive advantages and the post-entry market strategy. The foreign banks utilize capabilities to increase capitalization, assets and liabilities management and gaining a substantial market position, and offer more competitive products and services in all major market segments.<
DEVELOPMENT OF SUSTAINABLE AND SOCIALLY RESPONSIBLE BUSINESS IN LITHUANIA IN THE EUROPEAN AND WORLDWIDE CONTEXT
No full textThis article analyses the peculiarities, interrelations and development of two relatively new concepts of organizational development – socially responsible and sustainable business. Socially responsible business, which adopts the sustainable development concept, more and more often requires than adequate behaviour of the supply chain partners. The complex of tools to achieve socially responsible and sustainable business – SA 8000 (Social Accountability), Global Compact, OHSAS 18001 (Occupational Health and Safety Assessment Series), ISO 14001, EMAS (Eco-Management and Audit Scheme), FSC (Forest Stewardship Council), eco-labelling, etc. – can be integrated into one organization. The paper provides an analysis of the development of these systems in Lithuania within the context of the European and global business. The interrelations of different management systems, the links among them, integration possibilities and improvement propositionsare described
VAT collection efficiency in Poland before and after accession to the European Union–a comparative analysis
Get PDFThe principal aim of this study is to evaluate the impact of EU accession on VAT collection efficiency in Poland. For the purposes of the analysis the article is divided into three parts. The first addresses the Polish economy in the years 2001–2006, and describes the main macroeconomic indicators (GDP, import, export, individual consumption expenditure, public consumption expenditure, inflation rate and unemployment rate). The next section presents a review on the most significant VAT modifications, implemented in 2004. The last section estimates, on the basis of certain indicators, the VAT collection efficiency in the years 2001–2006. The measures employed in this section include: VAT productivity and VAT efficiency ratio. Furthermore, the section presents the VAT to GDP ratio and the structure of tax receipts measured by the share of major taxes in the total tax collection. The main conclusion drawn from the analysis is that in the period preceding accession the economic cycle did not favuor VAT performance. Since 2004, both improved economic situation and tax construction changes had been the main factors of VAT revenue increase. In the years following accession the VAT productivity and VAT efficiency ratios increased by 5,4 and 7,8 percentage points, respectively. It was the highest rise of these indicators in the period analyzed
RATING ESTIMATIONS OF THE ENTERPRISES: PROBLEMS AND MODELING
Get PDFIn modern times improvement of the estimation techniques related to the productivity of economic objects y is topical. The article deals with the problems of construction of the rating systems for the estimation of enterprises not related to the financial sector of the economy according to the results of their activity for a calendar year. yea. In order to construct the aggregated indicators for the estimation of the efficiency of the enterprise activity it proposes to unite thepossibilities of the classical financial analysis and the methods of the multidimensional statistical analysis. The created indicators accumulate the information on the initial indicators and are a convenient base for the construction of the rating estimations of enterprises
Importance of the product country-of-origin factor on purchasing process in the context of globalisation
Get PDFGlobalization is raising the country-if-origin importance question in the new light. It seems that the importance of country-of-origin (COO) factor has to go down, since both manufacturing and purchasing processes are under influence of overall globalization. In addition to this, many globally offered brands may be no longer associated with a specific country of their origin. From the other side, there are still strong attitudes of buyers observed about ‘domestic’ versus ‘foreign’ products, as well as about attitudes towards various countries. If these attitudes work as strong element within the COO factor, the importance of COO in the context of globalization would remain rather big.The objective of the paper is to explore the COO effect on the purchasing process in the context of globalization. The specific of Eastern European context is reflected through empirical exploratory research that was performed in Lithuania. The analysis suggests that perhaps some other elements have to be also included into studies of COO importance on purchasing behaviour. The authors propose that a less yet studied trait within consumers – country animosity – should receive more attention. It seems that in certain situations a product’s origin can affect consumer buying decisions rather independently from judgments’ of other characteristics of a product. The article formulates a model that incorporates country-of-origin animosity and purchasing moderators for further studies of the issue