Search results for "Debt"
showing 10 items of 295 documents
Las agencias de calificación y la deuda pública en la Comunidad Valenciana
2020
Resumen El objetivo de esta investigación es analizar la influencia que han tenido los mayores niveles de endeudamiento público sobre los ratings emitidos por las agencias de calificación para la Comunidad Valenciana. La acumulación de déficits junto con el estallido de la burbuja inmobiliaria terminó por afectar de manera negativa a la contabilidad pública. Asimismo, los recursos transferidos a través del sistema de financiación tampoco ayudaron a revertir la insuficiencia de ingresos para la administración valenciana. Las restricciones presupuestarias fueron reflejadas de inmediato por las agencias de calificación a través de una reducción en sus ratings, generando dificultades para obten…
Deute públic i renda censalista al País Valencià en el segle XV. Una proposta d’interpretació
2018
L’emergència de la nova fiscalitat –de la Corona, de les ciutats i del regne– va ser, sens dubte, una de les grans transformacions polítiques i econòmiques del final de l’edat mitjana. Amb l’impost va aparèixer un deute públic consolidat que, en la Corona d’Aragó, es va desenvolupar mitjançant el censal, un instrument financer semblant a les rentes constituées franceses o les perpetual annuities angleses. A partir del cas del País Valencià, pot assajar-se una estimació del volum de rendes generat pel deute públic i de com es distribuïen des del punt de vista geogràfic i social. Així doncs, en aquest article s’estudia en quins nivells de la xarxa urbana es concentraven aquests recursos i qui…
Miarkowanie kary umownej w ramach powództwa o jej zwrot – glosa do wyroku Sądu Okręgowego w Olsztynie z 5.12.2018 r., IX Ca 758/18
2023
Komentowane orzeczenie dotyczy możliwości miarkowania kary umownej po tym, jak została ona zapłacona przez dłużnika z zastrzeżeniem zwrotu. Główny problem w sprawie stanowiło to, czy powód może skutecznie wystąpić z odrębnym powództwem o zwrot części zapłaconej już pozwanemu kary. Istota postępowania sprowadzała się do określenia formy i momentu wystąpienia przez dłużnika z żądaniem miarkowania kary umownej. Sąd zgodził się z tezą, że do miarkowania może dojść na skutek powództwa wytoczonego przez dłużnika. Natomiast przyjął kontrowersyjne stanowisko, które zostało poddane w niniejszej glosie krytyce, że do miarkowania nie może dojść po tym, jak kara została zapłacona
Study on the financial performance of companies operating in the pharmaceutical industry in romania
2016
Abstract The study aims at determining the financial performance of companies in the pharmaceutical industry between 2009 and 2014 by means of the indicator of the financial return rate, using multiple linear regressions as research method. By analysing the evolution of the share of companies in the pharmaceutical industry based on the trend of the financial rate of return, we can estimate that the number of entities that resort to supporting the financial activities from loans and liabilities is growing in the period under analysis. This is due mainly to the liquidity crisis faced by entities, as a result of the high recovery duration of debts. Also, using the multiple linear regression we…
Conservation of threatened habitat types under future climate change – Lessons from plant-distribution models and current extinction trends in southe…
2015
A higher risk of future range losses as a result of climate change is expected to be one of the main drivers of extinction trends in vascular plants occurring in habitat types of high conservation value. Nevertheless, the impact of the climate changes of the last 60 years on the current distribution and extinction patterns of plants is still largely unclear. We applied species distribution models to study the impact of environmental variables (climate, soil conditions, land cover, topography), on the current distribution of 18 vascular plant species characteristic of three threatened habitat types in southern Germany: (i) xero-thermophilous vegetation, (ii) mesophilous mountain grasslands (…
Behind the curtain of international diversification: An agency theory perspective
2018
This paper dissects the antecedents of international diversification through the lens of the agency cost of free cash flow arguments. It explores whether the partial convergence of interests among managers, majority shareholders, and minority shareholders affects a firm's choice to diversify internationally. Using a sample panel of 60 Italian firms evaluated longitudinally from 2004 to 2014, the study tests whether a firm's international diversification is affected by its free cash flow (as the ultimate source of managerial discretion) and debt (as the main constraint to managerial discretion), especially in firm contexts that exacerbate agency problems. We find that the effects on internat…
Contemporary spatial and environmental factors determine vascular plant species richness on highly fragmented meadows in Central Finland
2018
Context Habitat loss is a major threat to biodiversity. It can create temporal lags in decline of species in relation to destruction of habitat coverage. Plant species specialized in semi-natural grasslands, especially meadows, often express such extinction debt. Objectives We studied habitat loss and fragmentation of meadows and examined whether the changes in meadow coverage had caused an extinction debt on vascular plants. We also studied whether historical or present landscape patterns or contemporary environmental factors were more important determinants of species occurrence. Methods We surveyed the plant species assemblages of 12 grazed and 12 mown meadows in Central Finland and dete…
International Indebtedness - Regional or Global Threat?
2019
International indebtedness means a public debt of a country, money or credit owed by a government to foreign lenders (external debt). This rticle includes description of reasons of creating debt, level of indebtedness of selected countries and its potential results. The aim of this article is to decide, if current indebtedness is just individual countries burden or is it general issue that concerns more countries and if there are any territorial regularity with their location. According to the data presented in the article the most and the least indebted countries are located in different parts of the world, which helped to conclude that there is no regularity with the level of indebtedness…
CLASSIFICATION OF EUROPEAN UNION COUNTRIES ACCORDING TO NATIONAL COMPETITIVENESS AND SOVEREIGN DEBT LEVELS
2013
National competitiveness is defined by World Economic Forum as "the set of institutions, policies, and factors that determine the level of productivity of a country". Therefore, the competitiveness of the European Union member states will be analyzed in the context of the governments' economic policies implemented in the previous period that had as main effects an increased public debt and an exposure of European Union to sovereign debt crisis. This paper attempts to examine how public debt takes its toll on the competitiveness of the EU member countries. So, the researchers will explore the strength of the connection between the percentage of public debt in GDP and the national competitive…
The Capital’s Election Criteria Used in the Financial Management of a Company’s Financing Decision
2009
The optimization of the capital structures of a company after the cost criteria represents a profitable activity, provided that it is well conceived, organized and carried out. For this consideration, the capital’s structure and their medium cost is an important profit source for the company, so the profit comes from this source, and not from the exploitation activity or other financial sources or traditional exceptive. In conclusion, the cost of the capital has to be previewed; the company has to build an adequate strategy and tactical procedures to accomplish this challenge. Besides the capital’s cost, in this paper we present some other criteria that can interfere in the choice of the fi…