Search results for "Financial sustainability"
showing 10 items of 10 documents
Financial Sustainability of Public Pension System
2021
The object of this chapter is the presentation of the budgetary system of public pension schemes in CEE countries, in terms of salary incomes taxation, in order to obtain the resources needed to finance social benefits, but also from the perspective of the level of benefits and the situation of budgetary balance.
The Impact of Entrepreneur-CEOs in Microfinance Institutions: A Global Survey
2013
- Peer reviewed Microfinance is a global high-growth industry, in which entrepreneurship is prevalent and substantial. Based on the theoretical argument that microfinance entrepreneur-CEOs are “motivated agents” with a unique ability to hire and socialize mission-oriented staff, we hypothesize that these CEOs produce more sustainable microfinance institutions with better social performance and lower costs. This study utilizes data from 295 microfinance institutions in 73 developing countries, assessed between 1998 and 2010. Our empirical evidence suggests that entrepreneur-managed microfinance institutions feature higher social performance, greater financial sustainability, and lower costs.
Do microfinance institutions benefit from integrating financial and nonfinancial services?
2017
This article examines the impact of microfinance ‘plus’ (i.e. coordinated combination of financial and nonfinancial services) on the performance of microfinance institutions (MFIs). Using a global data set of MFIs in 77 countries, we find that the provision of nonfinancial services does not harm nor improve MFIs’ financial sustainability and efficiency. The results however suggest that the provision of social services is associated with improved loan quality and greater depth of outreach.
Walk the Talk: Financial Fairness in European Club Football
2017
AbstractUEFA’s Financial Fair Play (FFP) regulations represent the most restrictive regulatory intervention European club football has ever seen. Put simply, it demands from clubs to operate on the basis of their own football-related incomes. While the policy has attracted considerable attention from the economic and social sciences, very few contributions systematically investigate it from a philosophical-ethical perspective. The present paper fills this research gap by posing questions on FFP in relation to fair play as a normative concept. We draw on sport economic assessments concerning potential outcomes of FFP and argue that the policy should go beyond the mere pragmatic goal of promo…
EU income stabilization tool: potential impacts, financial sustainability and farmer’s risk aversion
2021
AbstractThe Income Stabilization Tool, a risk management scheme introduced within the Common Agricultural Policy (CAP) 2014–2020, could help European Union farmers manage the income risks they face. This study assesses the potential impact of implementing this tool through the maximum level of contribution to the fund which determines an indifference to participate in the fund and its financial sustainability. The study relies on an expected utility approach and assesses the variability of loss ratios over time using a sample of Italian hazelnut farms as a case study. The participation depends on the level of farmers' contributions and their degree of risk aversion. However, the CAP public …
Housing Affordability and Income-threshold in Social Housing Policy
2016
Abstract The issue of affordable housing has again become crucial in ensuring a greater social equity, increasing social cohesion and reducing inequalities within metropolitan or regional systems which, in the current climate of severe economic crisis, have to respond to global challenges of development, innovation and sustainability. This study aims at building a system of knowledge about the housing affordability on the territorial scale, by which to identify the local characteristics of housing problems that could be solved through traditional planning tools or new practices of social housing, which involves private stakeholders and/or public administrations. This system of knowledge sho…
Measuring microfinance performance
2015
MFIs are measured according to two dimensions. One is their outreach to poor people, that is, their ability to provide poor families access to financial services. This is the MFIs’ social mission. The other dimension is their financial sustainability, that is, their ability to pay their employees, lenders, and other suppliers, in short, their ability to produce a profit from their operations. We set out the main microfinance measures and confirm earlier findings that profitability is rather weak in microfinance, and that operational costs constitute a large part of the total costs. We argue that researchers should put more efforts into identifying the MFI’s cost drivers because social outre…
Weak and Strong Compensation for the Prioritization of Public Investments: Multidimensional Analysis for Pools
2015
Despite the economic crisis still heavily affecting most of Europe, a possible resumption can be found in the revitalization of public and private investments. These investments should be directed not only towards the strategic areas of infrastructures and production, but also to those which allow for a higher level of the quality of life (sports facilities, parks, etc.). In such cases, the need to balance the reasons of financial sustainability with environmental and social profiles is even more evident. Thus, multicriteria techniques, supporting complex assessments, should be implemented together with a monetary feasibility study (cost-benefit analysis). Multidimensional methods allow for…
Anticipo de jubilación en Italia: entre sustenibilidad financiera y solidaridad intergeneracional
2019
The essay focuses on the recent reform of the Italian pensions system ("quota cento") and it puts in evidence the criticalities of the reform having regard to its financial sustainability and to the principle of intergenerational solidarity. El ensayo analiza la reciente reforma al sistema de pensiones italiano ("quota cento") subrayando sus criticidades desde la doble vertiente de la sustenibilidad financiera y de la solidaridad intergeneracional.
Econometric Study on the Financial Sustainability of Public Pension Systems
2021
This chapter aims the econometric study regarding the financial sustainability of public pension systems in CEE countries, by establishing correlations between the level of state social insurance budget revenues and expenditures, and the socioeconomic indicators specific to pension systems.