Search results for "economic environment"
showing 3 items of 3 documents
Challenges for Financial Managers in a Changing Economic Environment
2015
Abstract The fast changes and challenges that took place in the economic environment in the last years broadened the role of financial managers. If their basic responsibilities were linked mainly to financial reporting, financial planning, capital budgeting, capital structure, nowadays a stronger strategic dimension defines the role of financial managers. In addition, an important role is given to the financial manager in communicating professionally not only to the investors but also to the board. The aim of this paper is to give an overview of the challenges that the current economic context is bringing to the finance function and to present how the role of the financial managers is chang…
On the duration of sovereign ratings cycle phases
2021
Abstract Using long-term sovereign ratings data for a panel of 130 countries over the last three decades, we investigate the duration and determinants of sovereign rating phases through the lens of discrete-time Weibull models. We find that the likelihood of the end of the ‘speculative-grade’ phase increases as time goes by (i.e. there is positive duration dependence), but the ‘investment-grade’ phase is not duration dependent. Thus, for sovereigns rated as speculative, the build-up of reputation as good borrowers is a gradual process, whereas the reputation of investment-grade sovereigns solidifies and remains unchanged as time passes. However, the length of both phases significantly depen…
Operationalization of un-captured GDP - Innovation stream under new global mega-trends
2016
With the understanding that current ICT-driven global development depends on a trend shifting from traditional co-evolution of computer-initiated ICT, captured GDP, and economic functionality to new co-evolution of the Internet, un-captured GDP, and supra-functionality beyond economic value, the following hypothetical view was postulated: The disparity between the world's ICT leader countries with respect to happiness/welfare amidst great stagnation (Finland) or conspicuous economic growth (Singapore) can be attributed to the difference of the state in the above shifting trends. The foregoing hypothetical view was demonstrated on the basis of an empirical analysis measuring dependency on un…