Search results for "debt"
showing 10 items of 295 documents
Simplified restructuring proceedings in Poland as an example of anti – crisis regulation due to the COVID-19 pandemic
2020
Summary The study discusses new legislative anti – crisis solutions adopted in Poland in connection with the COVID – 19 pandemic. The Polish legislator decided to introduce the so-called simplified restructuring procedure. This happened in the face of the expectations of both the jurisprudence of law and practice. On the one hand, the simplified restructuring procedure (the fifth independent type of restructuring procedure for an entrepreneur in Poland) allows for a quick, cheap and simplified conclusion of an arrangement with creditors outside the court, then approved by the court. On the other hand, the opening of such proceedings gives the debtor protection against enforcement at the cre…
Forecasting Latin America’s Country Risk Scores by Means of a Dynamic Diffusion Model
2013
Over the last years, worldwide financial market instability has shaken confidence in global economies. Global financial crisis and changes in sovereign debts ratings have affected the Latin American financial markets and their economies. However, Latin American s relative resilience to the more acute rise in risk seen in other regions like Europe during last years is offering investors new options for improving risk-return trade-offs. Therefore, forecasting the future of economic situation involves high levels of uncertainty. The Country Risk Score (CRS) represents a broadly used indicator to measure the current situation of a country regarding measures of economic, political, and financial…
Ethical Dilemmas in Finnish Debt Collection – An Explorative Case Study
2016
It is inevitable that ethical questions arise in debt collection organizations and leadership, which is then good ground to identify whether debt collection is good or evil. Therefore we consider that a good standpoint for qualitatively explain the ethical dilemmas arising in our case study context. The article adopts a case study approach to examine Finnish Collection Agency Ltd., and applies a qualitative content analysis of interview data gathered by asking five employees to answer ten questions about how they see conflicts between their work and their own ethical thoughts. We obtained a rich description of the issues facing the debt collection business in Finland. In addition, the conce…
Effects of cumulative sleep restriction on self-perceptions while multitasking
2012
Summary This study addressed a rarely studied question of self-perceptions of performance and overall functional state during cumulative sleep restriction and the ensuing recovery period. Twenty healthy male volunteers, aged 19–29 years, were divided into a sleep restriction group (n = 13) and a control group (n = 7). On the first 2 nights, the sleep restriction group had an 8-h sleep opportunity that was restricted to 4 h for the next 5 nights, and then restored to 8 h for the last 2 nights. The control group had an 8-h sleep opportunity each night. Each day participants accomplished 50-min multitask sessions and gave self-ratings in their connection. Similar to our previous findings on mu…
Unveiling the Antecedents of International Diversification: An Agency Theory Approach
2014
While various studies have developed hypotheses about the antecedents of international diversification drawing mainly on the resource-based view, the behavioral theory of the firm, and the transaction costs literature, we advance our understanding by investigating the explanatory power of agency costs of free cash flow arguments. Using a sample panel of 167 Italian firms longitudinally evaluated during the 1980-2010 period, this study tests whether the firm’s choice to spread operations in multiple foreign countries is conditioned by excess of free cash flow and debt, especially in firm-contexts where agency problems are exacerbated by managers or large shareholders’ opportunism. We find th…
The Financial Crisis: An Introduction
2020
This section discusses the origins of the Eurozone crisis in European Monetary Union before discussing various dimensions of how the Eurozone coped, its impact on integration, and the crisis’ implications for the future of the EU. While the authors all show that the EU’s response to the financial crisis reflected the scenario ‘muddling through,’ they have different perspectives on the future of integration post crisis. Rosen and Olsen point out that the austerity policies implemented after crisis resulted in collective protest movements across Europe. Tranoy and Stenstad highlight the failure of financial sector reforms to reset the social role of finance in a more equitable way. Caporaso a…
2013 ECONOMY MOMENTUM CHALLENGES FOR NEXT 10 YEARS
2013
Last 5 years of almost unprecedented financial market turmoil it s still generating comprehensive crisis theories, market paradigms and nevertheless unprecedented situations. The aim of this paper is to explain 2013 milestone momentum for new market rules and regulations implementation - Basel III. The expected immediate cushion factors as well the possible negative impact on financial markets is presented from financial institutions perspective. Finally, the paper seeks for an exploratory after 10 years scenario connected with imminent market evolution and tendencies.
Volatility spillovers in the European bank CDS market
2015
From the 2007 subprime crisis to the recent Eurozone debt crisis,the banking industry has experienced terrible financial instabilitywith increasing volatility levels of bank default probability. UsingEuropean CDS spreads data from January 2006 to March 2013, thispaper sheds light on the impact of three recent significant events ofcredit risk volatility transmission between, firstly, Eurozone andnon-Eurozone banks, and then between distressed peripheral andcore countries inside the Eurozone. We employ an asymmetricmultivariate BEKK model to measure cross-market volatility spil-lovers. We find that both recent crises are distinct episodes. Theglobal financial crisis that originated outside Eu…
Foreign Direct Investment Drivers in Romania
2013
Foreign Direct Investment (FDI) represents a condition sine qua non for a sustainable development of Romania, taking into consideration the fact that the domestic capital is not enough to assure a positive and significant growth. The present study uses the multiple linear regression to determine the main factors which influence FDI level in Romania. The international reserve and the capital market index BET have a direct and positive impact on the foreign investment flow, while the short, medium and long private and public external debt proved to influence direct, but in a negative way, the FDI.
TRADE-OFF THEORY VS. PECKING ORDER THEORY – EMPIRICAL EVIDENCE FROM THE BALTIC COUNTRIES
2014
Capital structure is of particular importance in estimating the company value; an accurately estimated and selected equity and debt ratio can maximize the company value and minimizes the cost of capital; therefore, this issue is especially significant in the changing conditions of economic development. The main purpose of this study is to simultaneously evaluate the pecking order and trade-off theories of capital structure and determine which one performs better for a sample of companies from the Baltic states. Analysis is conducted on a sample of 75 listed companies (Baltic Stock Exchange) over the period from 1998 to 2011. The authors test theories using panel data and regression analysis…