The authors of the book have come to the conclusion that it is necessary to effectively use the methodological tools for assessing the competitiveness of financial and insurance markets, methodological approaches to assessing the effectiveness of regional policy, internal audit of resources. Basic research is aimed at researching the main trends in the international economy, socialization of global economic development, investment aspects of development countries, functioning of consumer market in the international economic system, trends of international population migration, (...) processes of European integration in the field of energy efficiency. The research results have been implemented in the different models of the behavior of the economic system in the conditions of crisis, provision competitiveness of national economy in the face of increasing burden of public debt. The results of the study can be used in decision-making at the level of international business, ministries and departments that regulate international relations, ensuring security and overcoming risks. The results can also be used by students and young scientists in modern concepts of the formation of international economic relations in the context of strengthening European integration processes and globalization of the economy. (shrink)

An extended analysis compared to observations shows that modern “globalised” world civilisation has passed through the invisible “complexity threshold”, after which usual “spontaneous”, empirically driven kind of development (“invisible hand” etc.) cannot continue any more without major destructive tendencies. A much deeper, non-simplified understanding of real interaction complexity is necessary in order to cope with such globalised world development problems. Here we introduce the universal definition, fundamental origin, and dynamic equations for a major related quantity of (systemic) risk characterising (...) real complex system development tendencies at any level of dynamics. Practically important conclusions are derived, opening further detailed applications in economy, finance and development practice. (shrink)

During the current financial crisis, the need for an alternative to a laissez-faire ethics of capitalism (the Milton Friedman view) becomes clear. I argue that we need an order ethics which employs economics as a key theoretical resource and which focuses on institutions for implementing moral norms. -/- I will point to some aspects of order ethics which highlight the importance of rules, e.g. global rules for the financial markets. In this regard, order ethics (“Ordnungsethik”) is the complement (...) of the German conception of “Ordnungspolitik” which also stresses the importance of a regulatory framework. This framework is needed not to tame the market, but to make it more profitable in the long run. -/- The conception of order ethics relies heavily on contractarianism, especially on James Buchanan’s work. Unlike many other conceptions of ethics, it does not start with an aim to achieve, but rather with an account of what the social world – in which ethical norms have to be implemented – is like. Our social world is different from the pre-modern one. Pre-modern societies played zero-sum games in which people could only gain significantly at the expense of others. And the types of ethics that we are still used to today have been developed within these pre-modern societies. -/- Modern societies, by contrast, can be characterised – by economists and other social theorists alike – as societies with continuous growth. This growth has only been made possible by the modern competitive market economy which enables everyone to pursue his own interests within a carefully devised institutional system. In this system, positive sum games are played, which makes it in principle possible to improve the position of every individual at the same time. Most kinds of ethics, however, resulting from the conditions of pre-modern societies, ignore the possibility of win-win-situations and instead require us to be moderate, to share, to sacrifice, as this would have been functional in zero-sum games. These conceptions distinguish – in more or less strict ways – between self-interest and altruistic motivation. Self-interest, more often than not, is ultimately seen as something evil. -/- Such an ethics cannot be functional in modern societies. Ethical concepts lag behind. Within zero-sum games, it was necessary to call for temperance, for moderate profits, or for a condemnation of lending money at interest. Within positive-sum games, however, the morally desired result of a social process cannot be brought about by changes in motivation, by switching from ‘egoistic’ to ‘altruistic’ motivation. The second theoretical element introduced by order ethics is the distinction between actions and rules, which was already mentioned. Traditional ethics concerns actions: It calls directly for changes in behaviour. This is a consequence of pre-modern conditions as reconstructed before: People in the pre-modern world were only able to control their actions, not so much however the conditions of their actions. In particular, rules like laws, constitutions, social structures, the market order, and also ethical norms have remained stable for centuries. In modern societies, this situation has changed entirely. The rules governing our actions have increasingly come under our control. -/- In this situation, ethics has to focus on rules. Morality must be incorporated in incentive-compatible rules. Direct calls for changes in behaviour without changes in the rules lead only to an erosion of compliance with moral norms. Individuals that continue to behave ‘morally’ will be singled out, because the incentives have not been changed. Moral norms which are to be justified cannot require people to abstain from pursuing their own advantage. People abstain from taking ‘immoral’ advantages only if adherence to ethical norms yields greater benefits over the planned sequence of actions than defection in the single case. Thus ‘abstaining’ is not abstaining in the long run, it is rather an investment in expectations of long-term benefits. By adhering to ethical norms, I become a reliable partner for interactions. The norms do indeed constrain my actions, but they simultaneously expand my options in interactions. And people consent to rules only if these rules hold greater advantages for them, at least in the long run. -/- In general, ethics cannot require people to abandon their individual calculation of advantages. However, it may suggest improving one’s calculation, by calculating in the long run rather than in the short run, and by taking into account the interests of our fellows, as we depend on their acceptance for reaching an optimal level of well-being, especially in a globalized world full of interdependence. -/- The problem of implementation can now be placed at the beginning of a conception of order ethics, justified with reference to the conditions of modern societies I have sketched. Under the conditions of pre-modern societies, an ethics of temperance had evolved that posed simultaneously the problems of implementation and justification. The implementation of well-justified norms or standards could then be regarded as unproblematic, because the social structures allowed for a direct face-to-face enforcement of norms. Pre-modern societies not only favored an ethics of temperance, they also had the instrument of face-to-face-sanctions within their smaller and non-anonymous communities. This instrument is no longer functional in modern anonymous societies, and so we have to face up to the problem of implementation right at the start of our ethical conception. Simultaneously, an order ethics relies on the implementation of sanctions for enforcing incentive-compatible rules. In modern societies, rules and institutions, to a large extent, must fulfil the tasks that were, in pre-modern times, fulfilled by moral norms, which in turn were sanctioned by face-to-face sanctions. Norm implementation in modern societies thus works by setting adequate incentives in order to prevent the erosion of moral norms, which would happen if ‘moral’ actors were systematically threatened with exploitation by other, less ‘moral’ actors. -/- This conception of order ethics is then elaborated further in the area of business ethics. -/- . (shrink)

The article reveals a conceptual basis of the cryptocurrency functioning. The main types of cryptocurrencies are featured and analyzed as well as their general strengths and weaknesses. Based on the price dynamics correlation analysis of some cryptocurrency types, a general low level of dependence between digital assets is established. The main functions of the cryptocurrency are formulated in the form of transformed money functions. Also, additional functions of cryptocurrencies are defined on the basis of their innovative nature, as well as (...) the role in the modern financial system and world economic relations. (shrink)

The authors of the scientific monograph have come to the conclusion that ensuring food security during martial law requires the use of mechanisms to support agricultural exports, diversify logistics routes, ensure environmental safety, provide financial and marketing support. Basic research focuses on assessment the state of agricultural producers, analysing the financial and accounting system, logistics activities, ensuring competitiveness, and environmental pollution. The research results have been implemented in the different decision-making models during martial law, international logistics management, (...) digital audit, agricultural lending, integrated marketing system, risk management and diversification of Ukrainian agricultural exports. The results of the study can be used in the developing of food security policies, programmes and strategies, agricultural production development, decision-making at the level of ministries and agencies that regulate food security management processes. The results can also be used by students and young scientists in the educational process and conducting scientific research on food security during martial law and Ukraine’s recovery economy after the victory. (shrink)

Before pandemic the world economy had a pre-crisis situation which was characterized by unprecedented imbalances in the global financial and economic system, the lack of growth in world GDP, which posed a real threat to the world economic order. Almost all global analysts predicted a global economic crisis at the end of 2019. For the first time since time immemorial, bank interest rates in all countries have dropped to unprecedented low levels. Often interest rates were 0% or even (...) negative. The EU’s financial system has been so disfigured by the VAT tax that fraud with this tax has reached a scale far exceeding hundreds of billions EUR and in fact got out of control of the authorities. (shrink)

Payment models directly impact the way patients experience care. Historically, payment model innovations have been examined mostly from economic, organizational, and public health lenses. Financial incentives exist in all healthcare systems, whether a socialized, private or public insurance, or single payer system. This article examines the alignment of current predominant payment models of fee-for-service, capitation, and value-based payments with patient care ethics. The volume-based incentive of fee-for-service is misaligned with patient care, while capitation is a relatively neutral and (...) highly modifiable model. Value-based payments offer a unique benefit in improving patient agency and have a larger benefit of cost control. However, no model adequately addresses health disparities, and a larger consideration for justice is needed by payment model designers when considering incentives. In consideration of related values, bioethics must expand the discourse around patient care ethics to cover patient interactions with the health system and market forces outside the clinical context. (shrink)

Building on the system of reason provided for by the Greek philosopher and specifically Aristotle, St. Thomas Aquinas built a comprehensive system and theory of natural law which has lasted through the ages. The theory was further developed in the Middle Ages and in the Enlightenment Ages by many a prominent philosopher and economist and has been recognized in the Modern Age. The natural law-theory and system has been repeatedly applied to the spheres of economic thought (...) and has produced many lasting contributions such as private property rights and individual rights. In recent times with the collapses of the financial system and rapid globalization, there has been a renewed interest in the application of natural law theory to economics to counter a certain anthropology and distortion of values created by a modern economic system of selfpreservation deriving its insights from the philosophies of Thomas Hobbes and Niccolo Machiavelli. (shrink)

In the article the effect of disbalances in the movement of financial resources on the national financial systems is formalized. For ensuring the corresponding monitoring objectives the financial sustainability indicators developed by the IMF and the World Bank have been used, as well as the integral indicator of financial resource disbalances, which serve as statistical units for measuring the financial situation and sustainability of the financial sector of the country. For the overwhelming majority of (...) the studied countries, the hypothesis about the negative impact of disbalances in the flow of financial resources on the stability of their financial sectors, regardless of the general economic conditions of these countries' development, was confirmed. At the same time, such a hypothesis was denied for a group of developing countries. Conditions-destabilizers of financial sectors’ stability of the countries under the influence of financialization of their economies, which should be considered the object of regulatory measures in financial markets, are defined. These include the level of market integration into the global financial space, which determines the tendency to systemic risks transmission and the degree of markets’ development that affects their volatility. (shrink)

The financial turmoil of the past several years has caused many to question the integrity, stability, and very purpose of financial systems which, in today’s world, represent a unique blend of primarily capitalism but also aspects of socialism and collectivism as well. A key factor contributing to this sustained period of economic upheaval has been the uncertainty surrounding capital markets – the fuel that powers all modern economies. Capital markets have, in the minds of many, come to (...) represent the embodiment of greed, unrestrained egoism, and exploitation of the vulnerable – conceptions at complete odds with the central values of social justice as set forth in both Christian and Jewish primary sources: caring for the poor, protecting the weak, and the promotion of justice. -/- In this paper I argue that capital markets, rather than being a means for the powerful to exploit the weak, have in fact become a force for social good in the aggregate. Indeed capital markets are, in fact, a social contract and as such must be governed by a set of normative ethical principles – both self imposed, and imposed by government regulation. I explore the ethical difficulties that have led to the systemic problems and market failures that lead to not only this current financial crisis, but literally all financial crises over the past eight hundred years. Capital markets, left to their own devices and without both self and governmental oversight, quickly become hotbeds of manipulation and exploitation. In order for markets to function properly, principles of basic fairness must become normative. It is when capital markets become unfair and unjust, that they fail. Thus, these markets must be structured in such a way as to 1) promote Rawl’s “Justice as Fairness” principle and 2) align the interests of market participants to produce universally beneficial market efficiency and stability. -/- Finally, I propose concrete ways in which the power of capital markets may be harnessed to promote the central moral values of Christian tradition and be used by people of faith to promote the ideals of social justice. (shrink)

The world never stands still. There is always a Brownian movement of economic subjects and objects on the face of it. But, if we have been visualizing this movement over a relatively long period of time, then we can distinguish the acceleration and increase in the volume of movements along individual commodity routes, the growth and formation of new subjects of international economic relations. From time to time, "accelerators" of this movement appear, either in the form of new types of (...) energy to service production, or technologies to simplify the exchange and distribution of benefits. The market, controlled by the "invisible hand", is gradually taking over the whole world, and some new goods appear to meet the needs. We use technologies and devices described in unreal fantasy plots of classical literature already today in real life. The speed of change is exciting on the one hand and is frightening on the other hand. In the modern world, it would seem, everything is mobile. The quality and cost of transportation has no longer been a physical obstacle to any exchange and travel. The forms of modern financial transactions for service international economic relations, their speed and coverage are impressive. Enterprises, in terms of capitalization, exceed the national incomes of states and do not have spatial territorial boundaries, being the main players in international economic relations along with states, their associations and international organizations. Digitalization is no longer a challenge for society, but our present. It seems sometimes that the world allegedly wants to slow down the further development of mankind and creates obstacles in the form of wars, epidemics and crises. Such obstacles become challenges for the development of economic entities of all levels. Change always creates unexpected opportunities for someone and insurmountable restrictions for other one. Change always leads to a redistribution of forces. Changes are needed to overthink the nature and direction of movement. Changes are the certain reorganization of the world economic system. The world is always on the verge of changes. What will they be this time? (shrink)

This work has been designed to develop an a dynamic road signal based on an emergency with density. The sync signal automatically switches to detecting traffic density at the intersection. Traffic congestion is a serious problem in many large cities around the world and has become a nightmare for travelers in these cities. The conventional traffic light system is based on the concept of fixed time assigned to each side of the join that cannot be varied by varying traffic (...) density. The tie times assigned are fixed. But in an emergency, emergency timings change according to the distance and depth of the traffic. At the time the emergency vehicle is read by the receiver it will execute the management of the traffic light. These projects are infrared proximity sensors in the sightline configuration through the load to detect the traffic light density. The vehicle density is measured in several sectors based on the times assigned as a result. Every crossing of the emergency vehicle logs the data's to the cloud. This log signal would help with the destination acknowledgment. This synchronization will greatly reduce traffic jam. -/- . (shrink)

Concerns about population ageing apply to both developed and many developing countries and it has turned into a global issue. In the forthcoming decades the population ageing is likely to become one of the most important processes determining the future society characteristics and the direction of technological development. The present paper analyzes some aspects of the population ageing and its important consequences for particular societies and the whole world. Basing on this analysis, we can draw a conclusion that the future (...) technological breakthrough is likely to take place in the 2030s (which we define as the final phase of the Cybernetic Revolution). In the 2020s – 2030s we will expect the upswing of the forthcoming sixth Kondratieff wave, which will introduce the sixth technological paradigm (system). All those revolutionary technological changes will be connected, first of all, with breakthroughs in medicine and related technologies. We also present our ideas about the financial instruments that can help to solve the problem of pension provision for an in-creasing elderly population in the developed countries. We think that a more purposeful use of pension funds' assets together with an allocation (with necessary guarantees) of the latter into education and upgrading skills of young people in developing countries, perhaps, can partially solve the indicated problem in the developed states. (shrink)

Abstract: We examine how trustworthy behaviour can be achieved in the financial sector. The task is to ensure that firms are motivated to pursue long-term interests of customers rather than pursuing short-term profits. Firms’ self-interested pursuit of reputation, combined with regulation, is often not sufficient to ensure that this happens. We argue that trustworthy behaviour requires that at least some actors show a concern for the wellbeing of clients, or a respect for imposed standards, and that the behaviour of (...) these actors is copied in such a way that it becomes a behavioural norm. We briefly suggest what such behavioural norms might need to be if trustworthy behaviour is to be achieved, and consider how they might be supported; we describe the research that is necessary in order to understand these norms in more detail. We argue that the norms of traders are different from the norms of those engaged in other activities, since they are inevitably self-interested, and we consider the risk that traders’ norms might undermine those of other actors. We analyse the task for governance in dealing with this problem, and the role which leadership by a corporate board and management might play in doing this. We describe the need for further research in to describe how this might be done. (shrink)

For the modern model of the market there are inherent existence of both a set of possibilities and a large number of hazards that are waiting for economic agents and which are generated by the need to make decisions in the conditions of considerable uncertainty about the future. Liquidity risk is one of the central places in the system of bank risks, is closely related to solvency and financial stability, and therefore its management is an extremely important (...) element of financial management of the bank. This paper is devoted to the consideration of theoretical approaches to the management of bank liquidity risks, as well as understanding the risk of unbalanced liquidity and its place in the system of bank risks. In the course of the study, the essence of the concepts of uncertainty, risk as such, economic risk and its varieties, including banking is gradually clarified. We offer our own definition of "bank risk" and describe its essence. Based on the understanding of the concepts of bank risks, liquidity balance, bank liq uidity, the essence of the risk of unbalanced liquidity is disclosed, its characteristics and main aspects of management are determined. In determining the risk of liquidity as a probability of a future state, when the bank may suffer losses due to the imbalance of demand for liquidity and availability at a certain point in time, we believe that the essence of liquidity management is reduced to the maximum balance of demand for liquid assets and their actual availability in a certain moment of time using special tools. Our paper also reveals the mechanism of information influence on bank liquidity and its leading role in liquidity risk management processes. Moreover, the paper discloses the conceptual constituents of organizational support for bank liquidity risk management. (shrink)

The current economic crisis caused by the COVID-19 pandemic has created new changes and challenges for society, which has led to a deeper identification of pressing problems and to develop strategies and models for overcoming crises in various countries, industries and businesses. The formation and improvement of modern strategies and models of crisis management is impossible without optimizing the resources of economic entities, providing assistance at various levels of government to support priority sectors of the economy, finding additional sources (...) of funding to combat the COVID-19 pandemic. To ensure the effective develop and implementation of modern strategies and models of crisis management it is necessary to have information about the state of economic entities, relevant commodity, raw materials, financial markets, explore the internal and external environment, determine the impact of risks on current activities business entities or industries. The effectiveness of crisis management strategies and models is determined by the ability of the management system to ensure the support of business activity of economic entities in the relevant market and to stimulate effective consumer demand. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations and to form and improve strategies and models of crisis management taking into account new changes and challenges for society related to the COVID-19 pandemic and declining business activity of economic entities. The object of the author’s research was the process of formation and improvement of crisis management strategies and models in the conditions of market imbalance and change of the external environment, reduction of activity volumes of economic entities, growth of budget expenditures to combat the COVID-19, formation of new forms of activities and penetration of information technology into various spheres of life to optimize the negative consequences of a pandemic. The subject of the study were socio-economic, organizational and institutional processes of formation and effective implementation of strategies and models of crisis management in various areas of economic activity; substantiation of mechanisms for ensuring the competitiveness of economic entities and the formation new forms of entrepreneurship; development of modern information technologies; consideration of best practices in business process management and digitalization using world experience in various sectors of the economy caused by the COVID-19. (shrink)

The escape from the ‘Malthusian trap’ is shown to tend to generate in a rather systematic way quite serious political upheavals. Some demographic structural mechanisms that generate such upheavals have been analyzed, which has made it possible to develop a mathematical model of the respective processes. The forecast of political instability in Sub-Saharan African countries in 2015– 2050 produced on the basis of this model is presented.

The paper provides a new approach to determining the financial standing of Ukrainian banks in the long and short terms. Using the European assessing indices and the national ones, a new ranking system is created. The authors ranked 20 biggest Ukrainian banks by assets and grouped them into corresponding financial groups.

A method of identifying banks’ business models and studying the features of their risk profile, considering the system of indicators featuring the structure of assets, liabilities, income, expenses, and other qualitative indicators based on monthly statistical reporting. Kohonen's self-organizing maps (SOM) are used to process large data sets, revealing objects’ hidden features by forming homogeneous groups according to similar values of a large system of indicators. The choice of the system of indicators that play the most significant (...) role in describing the business models of modern banks is substantiated. The proposed method makes it possible to group banks with homogeneous characteristics into so-called structural-functional groups and studies the change in the characteristics of groups of banks over time to compare their behavior during periods of active development of the system and during a crisis. That approach is useful for studying the banking system at the macro level, as it provides a quantitative measure of its financial stability. The more banks are in groups with negative values of parameters, increased risks, and unprofitable performance, the worse the general state of the system. The method also allows studying the features of each structural and functional group and the business models’ features at the meso-level. The number and composition of banks inherent in any group change dynamically, which characterizes the features of the relevant business model in a particular period. The averages of each group reflect the objective changes in the banking system structure. In addition, the SOM trajectory can be built for each individual bank determining the development of its strategy, features of a particular business model, and risk profile. At the micro-level, it allows comparing the features of individual banks within the SFGB and models ways to improve efficiency and financial stability by forecast values for SOM. An extensive system of indicators used to form structural and functional groups of banks allows to quickly respond to changes in the banking system, identify areas of increased risk and explore the adequacy and effectiveness of banks’ business models. (shrink)

A human being though basically a physico-chemical and hence physiological being; is essentially a psychological being. Psychology is physiology, but “appears” separate to most humans and will be dealt with as here. But attempts will be made to intermittently connect with modern scientific understanding in terms of nervous system – the brain, spinal cord, nerves and neurons- to get a comprehensive picture of mind and its functions for academic purpose. -/- Psychology is human consciousness and mind and their (...) functions manifested as moods, thoughts, feelings, experiences, cognitions, re-cognitions and the like. Most of the difficulties faced by humans are financial and psychological. -/- The origin, structure, form, and function of human mind as revealed by Indian seers, wise-men, poets and intellectuals in the Upanishads and related spiritual and literary texts, will be translated into psychological and cognitive science elements. Thus an insight of human mental and related body functions will be deciphered. -/- This information then will be extended for its practical use to acquire a stress-free mind to face life in all its shades with equanimity and survive happiness, sorrow, natural and man-made calamities, and the like and the vicissitudes caused by them; and live a purposeful and dignified life of fulfillment as is done by many Indians who follow tradition with discretion. Irrespective of what happens or does not happen as desired around in the outside physical world and inner mental world as a reaction to outside happenings as moods, urges, thoughts, feelings, in the individual and how absorb and transcend the associated pleasantness or unpleasantness will be presented; and how to keep focused on ordained personal, social or social like duties will be highlighted. -/- The art and science of mind management for fitting and proud survival through ups and downs of life with the help of spiritual and cultural attitudes developed by Indian sages and other learned persons will be presented with clarity. For this first we must know, what human consciousness, mind and their form, structure and function is. Upanishads give a beautiful and insightful idea about this aspect. So this article focuses on the Upanishads and the gist available therein about consciousness, mind and their functions and control of mind and the how we can learn Art of Living from this wisdom. -/- . (shrink)

The study aimed to identify the role of measuring and evaluating performance in achieving the objectives of control and the performance of the job at the Islamic University in Gaza Strip. To achieve the objectives of the research, the researchers used the descriptive analytical approach to collect information which is the questionnaire that consisted of (22) phrases were distributed to three categories of employees of the Islamic University (Faculty Members and Their Assistants, Members of the Administrative Board, Senior Management). A (...) random sample of (314) employees was selected and 276 responses were retrieved with a recovery rate of 88.1%. The Statistical Analysis Program (SPSS) was used to enter process and analyze the data. The results of the research showed a positive role between measuring and evaluating the performance and achieving the objectives of the control of performance in the Islamic University from the point of view of the members (senior management, faculty and their assistants, and members of administrative board). The researchers also recommended a number of recommendations, most notably the provision of an appropriate level of the elements of the control systems today through the modernization and continuous development of performance measures and the need to provide the physical and financial resources necessary to continue the development and achievement within the university, to expand the development of technology in the various activities of the university through the construction of a complete and integrated system to support supervision systems in the university to suit the size of the university. The researchers also recommended following up and reviewing the performance measures and work to modify them in line with the mission and the goals of the university that it seeks to reach. (shrink)

In modern conditions the questions of personnel management, including motivation, acquire new meaning. Particularly given the problems relevant to the service sector, where at the beginning of the XXI century employing more than 60% of the workforce in developed countries. These circumstances determine the need for a modern concept of material and immaterial motivation of service industries. Such factors determine the need for the development modern concept of material and immaterial motivation of service industries staff. To obtain (...) indicated objective during research analyzed the existing concepts and paradigm of staff motivation with highlighting their advantages and disadvantages. The results obtained allowed to establish that scientific and expert community does not have the unified approach to the classification and identification of the most effective ones. Special attention is given to modern developments and approaches to the motivation problem. This fact caused the structure of follow studies, including three interlinked vectors: analysis of the essential content of the fundamental concepts in the field of staff motivation; defining features of employee motivation at the enterprises sphere of services; introduction to the key successful international practices which apply by service companies. In general, the results obtained enabled the author’s model of the modern concept of material and non-material motivation at the enterprises the service sector and the corresponding mechanism for the implementation. (shrink)

This article summarizes the question of finding effective solutions to ensure the excellence of modern business through the introduction of managerial innovations. The main purpose of the study is to improve the theoretical and methodological approach to the implementation of managerial innovations in the system of modern business solutions. Systematization of literature sources and approaches to solving the problem of improving business management through the introduction of managerial innovations indicates the widespread use of methodological approaches and methods (...) of managerial innovation, but much management issues to ensure business excellence, justification of new opportunities for its development remain unnoticed. The urgency of solving this scientific problem is that in conditions of growing uncertainty and risk, accelerating the transformation of business, the importance of ensuring its perfection in the long term economic development of Ukraine is growing. The methodological tools of research methods were a system of methods used to obtain the final results of the study: generalization and comparative analysis – to clarify the essence of the concept of «managerial innovation»; abstract-logical – to reveal the relationship between the use of information and communication technologies, business excellence and implementation of management innovations; system-analytical – in developing a model of business excellence based on the use of modern information and communication technologies. The object of research is the industrial enterprises of the modern economy of Ukraine, because they are the basis of economic formation, a source of replenishment of the country budget and form the export orientation of business. The article presents the results of abstract-logical analysis of the blocks of business excellence, which showed that at the present stage of its development, the introduction of managerial innovations should be associated with the digital transformation of business. The results of the system-analytical analysis are presented, which are the basis for the development of an economic model for business excellence. The results of the study can be useful for business structures (and in particular, business units of the industrial complex of Ukraine), which seek to increase the efficiency of decision-making in today's digital business transformation. (shrink)

Small and medium enterprises (SMEs) in Albania, similar to other markets, operate in complex, fast-paced and unpredictable environments due to their size and nature. In our contemporary knowledge-based economy, business is constantly changing, and SMEs are thus continually faced with the challenge to find new and innovative ways to improve and adapt to the rapid transformations. As a result, there is a growing interest and necessity for SMEs to explore and adapt new and innovative mechanisms for better decision making, which (...) will then lead to improved performance and competitiveness. Digitalization of SMEs with the use of Business Intelligence (BI) and Knowledge Management (KM) systems is one such innovative instrument open to SMEs for a better performance and increased competitiveness. The research for this doctoral thesis is then set precisely in this configuration whereby: on one hand the current level of adoption and use of advanced ICTs and technological innovation within SMEs, or business digitalization as will be coined later, is relatively limited due to a variety of factors; and on the other hand ICTs themselves as technological systems or tools as well as part of business landscape, i.e. ICT as a sector, are a major driver of innovation, modernization and growth for the Albanian economy. This doctoral thesis addresses the gap in the current state of research regarding the development, adoption and use of advanced ICTs systems, i.e. business digitalization, within SMEs. In addition, the research for the doctoral thesis expands the challenge to the impact of business digitalization on performance of SMEs in Albania. Clearly, SMEs have been selected as the central ground of research not only to contribute towards filling a research gap in management and ICTs studies in Albania, but also because of the central role that SMEs play in Albanian economy and their future potential in the digital world. The results show that business digitalization impacts positively the overall performance of SMEs in Albania. Size, age and location of the SME dominate performance and are related to the business digitalisation more than strategy. Also, the entrepreneurial characteristics of the owner – manager also impact the digitalization. Having a clear business plan was also found to be important when it comes to using BI. SMEs in Albania are a vital part of the national economy and the research shows that there is growing interest in ICTs, digitalisation, BI and KM, but innovation is still at relatively low levels due to financial and human resources, which are limited. However, the research highlights that SMEs are very flexible and easy to adopt to change and when this is combined with a visionary owner- manager they tend to move towards business digitalisation. Another finding of this study is that digitalisation have lead SMEs to reconsider and re-conceptualise their business models attempting to move towards innovations that impact performance. Also, the concept of business model innovations is also gaining ground in SMEs in Albania. Findings show that the use of BI and other digitalisation processes is mainly driven by strategic and innovation related motives that are internal to the company and the owner-manager. The use of BI as a result of external technological factors also plays a role. Analysis of the findings show that the use of BI and digitalisation have a positive impact on business performance. The findings of this research paper have practical implications for the SMEs sector in Albania not only in providing an assessment of the current use of BI, but also in exploring the benefits and potential usage of BI as a necessary activity for deriving improved performance. Findings of this research can be used by owners-managers to better understand how firms can engage with digitalisation and BI and how their adoption and implementation affect business performance. Another implication for business sector is that digitally mature companies have better performance and thus derive more revenue and become more competitive. Finally, the research shows that digitization has a variety of dimensions and can be understood differently by different SMEs, owner-managers and staff, but it is a major contributor to business performance. Future research is needed to explore further the role of digitalisation processes in SMEs in Albania particularly related to enabling and hindering factors. In addition, further research is needed regarding the business model innovations, particularly in terms of human and organizational factors. This study is one of the first research contributions in the case of Albania to analyse the impact of digitalization, specifically the impact of BI on SMEs in Albania. (shrink)

The article considers the features of ensuring the economic security of enterprises in the conditions of intensive introduction of information technologies in their activities in the process of forming the digital economy. It is determined that digitalization creates important advantages for enterprises in terms of implementing a long-term strategy for their development, strengthening economic security, and achieving significant competitive advantages in doing business. It is studied that the system of economic security of the enterprise is an organized set of (...) elements of the management infrastructure of the enterprise, which are focused on ensuring stable and effective development of the business entity, neutralization, and elimination of internal and external threats. (shrink)

The credit crises experienced in the US in year 2008 is labeled as perhaps the most significant crises since the great depression. The roots of the crises were found in the default of the sub-prime mortgages and the failure occurred in both the US and the UK. Due to the integrated nature of international financial systems the spillover impacted many countries as the economies in Asia and Europe were purchasers of the sub-prime mortgages that originated in both UK and (...) US. The impact of the credit crises in Canada is of unique importance due to the close proximity to US, and both the US and Canada being of great strategic importance to each other as well as one of the largest trading partners.Even though the international financial credit crises adversely impacted many countries, the evidence that has come across recent years point towards the conclusion that Canada was able to weather the crises much better than many other countries. (shrink)

The first thing we must keep in mind is that when saying that China says this or China does that, we are not speaking of the Chinese people, but of the Sociopaths who control the CCP -- Chinese Communist Party, i.e., the Seven Senile Sociopathic Serial Killers (SSSSK) of the Standing Committee of the CCP or the 25 members of the Politburo etc.. -/- The CCP’s plans for WW3 and total domination are laid out quite clearly in Chinese govt publications (...) and speeches and this is Xi Jinping’s “China Dream”. It is a dream only for the tiny minority (perhaps a few dozen to a few hundred) who rule China and a nightmare for everyone else (including 1.4 billion Chinese). The 10 billion dollars yearly enables them or their puppets to own or control newspapers, magazines, TV and radio channels and place fake news in most major media everywhere every day. In addition, they have an army (maybe millions of people) who troll all the media placing more propaganda and drowning out legitimate commentary (the 50 cent army). -/- In addition to stripping the 3rd world of resources, a major thrust of the multi-trillion dollar Belt and Road Initiative is building military bases worldwide. They are forcing the free world into a massive high-tech arms race that makes the cold war with the Soviet Union look like a picnic. -/- Though the SSSSK, and the rest of the world’s military, are spending huge sums on advanced hardware, it is highly likely that WW3 (or the smaller engagements leading up to it) will be software dominated. It is not out of the question that the SSSSK, with probably more hackers (coders) working for them then all the rest of the world combined, will win future wars with minimal physical conflict, just by paralyzing their enemies via the net. No satellites, no phones, no communications, no financial transactions, no power grid, no internet, no advanced weapons, no vehicles, trains, ships or planes. -/- There are only two main paths to removing the CCP, freeing 1.4 billion Chinese prisoners, and ending the lunatic march to WW3. The peaceful one is to launch an all-out trade war to devastate the Chinese economy until the military gets fed up and boots out the CCP. -/- An alternative to shutting down China’s economy is a limited war, such as a targeted strike by say 50 thermobaric drones on the 20th Congress of the CCP, when all the top members are in one place, but that won’t take place until 2022 so one could hit the annual plenary meeting. The Chinese would be informed, as the attack happened, that they must lay down their arms and prepare to hold a democratic election or be nuked into the stone age. The other alternative is an all-out nuclear attack. Military confrontation is unavoidable given the CCP’s present course. It will likely happen over the islands in the South China Sea or Taiwan within a few decades, but as they establish military bases worldwide it could happen anywhere (see Crouching Tiger etc.). Future conflicts will have hardkill and softkill aspects with the stated objectives of the CCP to emphasize cyberwar by hacking and paralyzing control systems of all military and industrial communications, equipment, power plants, satellites, internet, banks, and any device or vehicle connected to the net. The SS are slowly fielding a worldwide array of manned and autonomous surface and underwater subs or drones capable of launching conventional or nuclear weapons that may lie dormant awaiting a signal from China or even looking for the signature of US ships or planes. While destroying our satellites, thus eliminating communication between the USA and our forces worldwide, they will use theirs, in conjunction with drones to target and destroy our currently superior naval forces. Of course, all of this is increasingly done automatically by AI. -/- By far the biggest ally of the CCP is the Democratic party of the USA. -/- The choice is to stop the CCP now or watch as they extend the Chinese prison over the whole world. -/- Of course, universal surveillance and digitizing of our lives is inevitable everywhere. Anyone who does not think so is profoundly out of touch. -/- Of course, it is the optimists who expect the Chinese sociopaths to rule the world while the pessimists (who view themselves as realists) expect AI sociopathy (or AS as I call it – i.e., Artificial Stupidity or Artificial Sociopathy) to take over, perhaps by 2030. -/- Those interested in further details on the lunatic path of modern society may consult my other works such as Suicide by Democracy-an Obituary for America and the World 4th Edition 2019 and Suicidal Utopian Delusions in the 21st Century: Philosophy, Human Nature and the Collapse of Civilization 5th ed (2019) . (shrink)

The first thing we must keep in mind is that when saying that China says this or China does that, we are not speaking of the Chinese people, but of the Sociopaths who control the CCP -- Chinese Communist Party, i.e., the Seven Senile Sociopathic Serial Killers (SSSSK) of the Standing Committee of the CCP or the 25 members of the Politburo etc.. -/- The CCP’s plans for WW3 and total domination are laid out quite clearly in Chinese govt publications (...) and speeches and this is Xi Jinping’s “China Dream”. It is a dream only for the tiny minority (perhaps a few dozen to a few hundred) who rule China and a nightmare for everyone else (including 1.4 billion Chinese). The 10 billion dollars yearly enables them or their puppets to own or control newspapers, magazines, TV and radio channels and place fake news in most major media everywhere every day. In addition, they have an army (maybe millions of people) who troll all the media placing more propaganda and drowning out legitimate commentary (the 50 cent army). -/- In addition to stripping the 3rd world of resources, a major thrust of the multi-trillion dollar Belt and Road Initiative is building military bases worldwide. They are forcing the free world into a massive high-tech arms race that makes the cold war with the Soviet Union look like a picnic. -/- Though the SSSSK, and the rest of the world’s military, are spending huge sums on advanced hardware, it is highly likely that WW3 (or the smaller engagements leading up to it) will be software dominated. It is not out of the question that the SSSSK, with probably more hackers (coders) working for them then all the rest of the world combined, will win future wars with minimal physical conflict, just by paralyzing their enemies via the net. No satellites, no phones, no communications, no financial transactions, no power grid, no internet, no advanced weapons, no vehicles, trains, ships or planes. -/- There are only two main paths to removing the CCP, freeing 1.4 billion Chinese prisoners, and ending the lunatic march to WW3. The peaceful one is to launch an all-out trade war to devastate the Chinese economy until the military gets fed up and boots out the CCP. -/- An alternative to shutting down China’s economy is a limited war, such as a targeted strike by say 50 thermobaric drones on the 20th Congress of the CCP, when all the top members are in one place, but that won’t take place until 2022 so one could hit the annual plenary meeting. The Chinese would be informed, as the attack happened, that they must lay down their arms and prepare to hold a democratic election or be nuked into the stone age. The other alternative is an all-out nuclear attack. Military confrontation is unavoidable given the CCP’s present course. It will likely happen over the islands in the South China Sea or Taiwan within a few decades, but as they establish military bases worldwide it could happen anywhere (see Crouching Tiger etc.). Future conflicts will have hardkill and softkill aspects with the stated objectives of the CCP to emphasize cyberwar by hacking and paralyzing control systems of all military and industrial communications, equipment, power plants, satellites, internet, banks, and any device or vehicle connected to the net. The SS are slowly fielding a worldwide array of manned and autonomous surface and underwater subs or drones capable of launching conventional or nuclear weapons that may lie dormant awaiting a signal from China or even looking for the signature of US ships or planes. While destroying our satellites, thus eliminating communication between the USA and our forces worldwide, they will use theirs, in conjunction with drones to target and destroy our currently superior naval forces. Of course, all of this is increasingly done automatically by AI. -/- By far the biggest ally of the CCP is the Democratic party of the USA. The choice is to stop the CCP now or watch as they extend the Chinese prison over the whole world. -/- Of course, universal surveillance and digitizing of our lives is inevitable everywhere. Anyone who does not think so is profoundly out of touch. -/- Of course it is the optomists who expect the Chinese sociopaths to rule the world while the pessimists (who view themselves as realists) expect AI sociopathy (or AS as I call it – i.e., Artificial Stupidity or Artificial Sociopathy) to take over, perhaps by 2030 Those interested in further details on the lunatic path of modern society may consult my other works such as Suicide by Democracy-an Obituary for America and the World 3rd Edition 2019 and Suicidal Utopian Delusions in the 21st Century: Philosophy, Human Nature and the Collapse of Civilization 5th ed (2019) -/- . (shrink)

The first thing we must keep in mind is that when saying that China says this or China does that, we are not speaking of the Chinese people, but of the Sociopaths who control the CCP -- Chinese Communist Party, i.e., the Seven Senile Sociopathic Serial Killers (SSSSK) of the Standing Committee of the CCP or the 25 members of the Politburo etc.. -/- The CCP’s plans for WW3 and total domination are laid out quite clearly in Chinese govt publications (...) and speeches and this is Xi Jinping’s “China Dream”. It is a dream only for the tiny minority (perhaps a few dozen to a few hundred) who rule China and a nightmare for everyone else (including 1.4 billion Chinese). The 10 billion dollars yearly enables them or their puppets to own or control newspapers, magazines, TV and radio channels and place fake news in most major media everywhere every day. In addition, they have an army (maybe millions of people) who troll all the media placing more propaganda and drowning out legitimate commentary (the 50 cent army). -/- In addition to stripping the 3rd world of resources, a major thrust of the multi-trillion dollar Belt and Road Initiative is building military bases worldwide. They are forcing the free world into a massive high-tech arms race that makes the cold war with the Soviet Union look like a picnic. -/- Though the SSSSK, and the rest of the world’s military, are spending huge sums on advanced hardware, it is highly likely that WW3 (or the smaller engagements leading up to it) will be software dominated. It is not out of the question that the SSSSK, with probably more hackers (coders) working for them then all the rest of the world combined, will win future wars with minimal physical conflict, just by paralyzing their enemies via the net. No satellites, no phones, no communications, no financial transactions, no power grid, no internet, no advanced weapons, no vehicles, trains, ships or planes. -/- There are only two main paths to removing the CCP, freeing 1.4 billion Chinese prisoners, and ending the lunatic march to WW3. The peaceful one is to launch an all-out trade war to devastate the Chinese economy until the military gets fed up and boots out the CCP. -/- An alternative to shutting down China’s economy is a limited war, such as a targeted strike by say 50 thermobaric drones on the 20th Congress of the CCP, when all the top members are in one place, but that won’t take place until 2022 so one could hit the annual plenary meeting. The Chinese would be informed, as the attack happened, that they must lay down their arms and prepare to hold a democratic election or be nuked into the stone age. The other alternative is an all-out nuclear attack. Military confrontation is unavoidable given the CCP’s present course. It will likely happen over the islands in the South China Sea or Taiwan within a few decades, but as they establish military bases worldwide it could happen anywhere (see Crouching Tiger etc.). Future conflicts will have hardkill and softkill aspects with the stated objectives of the CCP to emphasize cyberwar by hacking and paralyzing control systems of all military and industrial communications, equipment, power plants, satellites, internet, banks, and any device or vehicle connected to the net. The SS are slowly fielding a worldwide array of manned and autonomous surface and underwater subs or drones capable of launching conventional or nuclear weapons that may lie dormant awaiting a signal from China or even looking for the signature of US ships or planes. While destroying our satellites, thus eliminating communication between the USA and our forces worldwide, they will use theirs, in conjunction with drones to target and destroy our currently superior naval forces. Of course, all of this is increasingly done automatically by AI. -/- By far the biggest ally of the CCP is the Democratic party of the USA. The choice is to stop the CCP now or watch as they extend the Chinese prison over the whole world. -/- Of course, universal surveillance and digitizing of our lives is inevitable everywhere. Anyone who does not think so is profoundly out of touch. -/- Of course it is the optomists who expect the Chinese sociopaths to rule the world while the pessimists (who view themselves as realists) expect AI sociopathy (or AS as I call it – i.e., Artificial Stupidity or Artificial Sociopathy) to take over, perhaps by 2030 Those interested in further details on the lunatic path of modern society may consult my other works such as Suicide by Democracy-an Obituary for America and the World 3rd Edition 2019 and Suicidal Utopian Delusions in the 21st Century: Philosophy, Human Nature and the Collapse of Civilization 5th ed (2019) -/- . (shrink)

Bills payment centers (bayad centers) are the industry’s trailblazers and pioneers in the over-the-counter bill payment processing sector in the Philippines. However, scammers lure victims into making money to phony bills payment center (bayad center) accounts rather than paying bills at approved outlets. It is undeniable that this occurrence has had a substantial connection with their financial success. The major goal of this study was to explore the elements that had an association with financial performance of bills payment (...) centers (bayad centers) in order to prevent the sector from falling. A descriptive-correlational research approach was employed in this study. The research was carried out in San Jose, Occidental Mindoro. The 55 employees of the 22 registered bills payment centers (bayad centers) in San Jose, Occidental Mindoro were the study’s respondents. They were chosen using the systematic random sampling. The weighted mean was employed in the study of internal control system and financial performance. The Pearson r Correlation Coefficient (Pearson’s r) was also performed in this study to determine the relationship between the internal control system and financial performance. The findings of this study revealed that there was a significant positive relationship between internal control system and financial performance of bills payment centers (bayad centers) in San Jose, Occidental Mindoro. (shrink)

Our planet contains 194 independent states and much more nations. They share membership of the United Nations and in consequence they subscribed the Universal Declaration of Rights. These are rooted in the modern universal conception of states and human rights formulated by philosophers of the Enlighten Age like Locke, Kant., Montesquieu, Voltaire and Rousseau. Concepts like democracy are mirrored to the organization of the political life as it was developed in North America and Europe at the end of the (...) 18th and the 19th century. Universality was deeply rooted in the Western intellectual, moral and religious tradition of that part of the world. Even globalization of the economic and social life is governed by the same Western standards and worldwide consumed basic goods like prime matter,. food and energy is expressed in terms of Western currency like dollar, pound sterling or euro. Despite this economic globalization there were two contradictory political evolution to discern: At the one hand more than 70 new states where created and on the other hand 28 European states started to integrate to a political European Union. The latter trend was based on a deep economic integration and since the creation of the euro also a financial integration. Basic idea was the creation of a free economic market as bases for a political unified Europe. Euro criticism is not only identified with conservatism, nationalism, narrow mind and even racism, euro criticism is deprived from any intellectual significance. However other trends put some shadow on the European project. First the Soviet experience around Marxism, Leninism and Stalinism unified more different nations than the European Union but ended in a complete political and economic chaos. Secondly the financial euro crisis involves only the tacit undermining of the national political independence of the member states, but does not make room for a deep analysis what the fundamentals are of this crisis such as lack of confidence of the citizen in the created unified political and financial market and its main instruments like banks that we consider as the fundamental boundary conditions of the worldwide globalization of goods, power and all aspects of human life. Furthermore we claim that this market in al its aspects is the worst answer to the inconvenient yet unavoidable truth that Western way of life of consumption includes a ecological footprint that exceeds since many years the sustainability of our planet. -/- . (shrink)

The paper presents an ethnographic approach to the study of culture change, here the culture of the practice of Afiye (Caste system) among the Yala communities of Cross River State and why the persistence of such culture by a homogenous community such as the Yala community? The paper further, wonders why after the high status achieved by the Yala people in every facet of life and indeed the influence of factors of change, such as Christianity, globalization, technology and modernity, (...) that the Afiye practice still remained unchanged. It is the discovery of this paper that the factors responsible for the persistence of this practice against all factors of change are anchored on the religious factor, cultural identity, socio-political factors and, economic factors. It is the argument of this paper that instead of the factors above contributing to its persistence, it should be the ready factors to its discontinuity. For the advantages outweigh any given disadvantages. It is therefore the conclusion of this paper that the persistence of this practice be used to abrogate the practice which will in turn leads to an egalitarian Yala society, built on trust, unity and a mutual acceptance of one another, as a people, who indeed appreciate and love themselves as exemplified in their greetings. (shrink)

The entire world community, since 2019, affected by the global pandemic COVID-19. The pandemic caused by this virus, led not only to significant human losses worldwide, but also imposed significant restrictions on the socio-cultural life of the population and radically changed the trends of the global economy and the further functioning of socio-economic systems. Now, huge economic losses have been recorded, which affected almost all sectors of the national economy and the state in the short, medium and long term. However, (...) it is important to consider individual economic development forecasts and measures developed by the governments of the world’s leading countries to overcome the negative effects of the COVID-19 pandemic. This will allow to form a real vision of the possible course of economic processes that will directly affect the living standards of the population and the restoration of socio-economic systems. To further restore the socio-economic system it is necessary to developing modern strategies and forecasts to ensure the effective functioning of economic entities through innovation, digitalization, marketing and use of competitive advantages in the consumer markets in conditions of limited resources, development promising sectors of the national economy, etc. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations, the formation new strategies for restoring socio-economic systems and overcoming the negative consequences of the caused by the COVID-19 pandemic, taking into account changes and challenges in the modern world. The object of the authors’ research is the process of forming new approaches, strategies and mechanisms for managing socio-economic systems in the context of the COVID-19 pandemic, eliminating the negative consequences in the activities of economic entities. The subject of research is socio-economic, organizational and institutional processes of formation and effective implementation of approaches, strategies and mechanisms for managing socio-economic systems; stabilization of the functioning of economic entities; introduction of innovative processes and digital technologies; implementation of best practices in the managing of socio-economic systems using world experience in various sectors of the economy caused by the COVID-19 pandemic. (shrink)

It is crucial to actively detect the risks of transactions in a financial company to improve customer experience and minimize financial loss. In this study, we compare different machine learning algorithms to effectively and efficiently predict the legitimacy of financial transactions. The algorithms used in this study were: MLP Repressor, Random Forest Classifier, Complement NB, MLP Classifier, Gaussian NB, Bernoulli NB, LGBM Classifier, Ada Boost Classifier, K Neighbors Classifier, Logistic Regression, Bagging Classifier, Decision Tree Classifier and Deep (...) Learning. The dataset was collected from Kaggle depository. It consists of 6362620 rows and 10 columns. The best classifier with unbalanced dataset was the Random Forest Classifier. The Accuracy 99.97%, precession 99.96%, Recall 99.97% and the F1-score 99.96%. However, the best classifier with balanced dataset was the Bagging Classifier. The Accuracy 99.96%, precession 99.95%, Recall 99.98% and the F1-score 99.96%. (shrink)

Modern global economic challenges caused by the COVID-19 pandemic and various changes in the structure of the world market of goods and services require the developing of new models of economic systems management based on appropriate strategic management methodology, implementation innovation, use of prospects for various risks caused by the pandemic, implementation mechanisms for ensuring the security of economic systems. Ensuring effective management of economic systems in the current global challenges is impossible without the introduction of a new concept (...) of functioning and sustainable development of economic entities. To ensure effective management of economic systems in the context of modern global challenges it is necessary to determine the state of the economic process of entities and explore the impact of risks on current activities, justify and developing a system to overcome negative effects on economic activity and obtain a positive economic result. The effectiveness of developed conceptual provisions to ensure effective management of economic systems is determined by the ability of the management system to withstand the destructive effects of the external environment and due to the strengths to direct the resources of economic entities to maintain the economic process, able ensure to save resources and cover current costs economic entities, etc. (shrink)

Financial distress in the hospitality industry affects both businesses and their employees. This study explores the perspectives of employees on financial distress within the hospitality sector in Imo State, Nigeria. The study addressed three research questions. Survey research design was adopted for the study. The study was carried out in Imo State Nigeria. 361 financial officers in the hotels within the hospitality industry in Owerri Imo State were the target population and random sampling was used to select (...) 181 hotels whose financial officers served as the study respondents. Structured questionnaire was specifically designed for this study. The data was analyzed using mean, and standard deviation to provide an overview of employee perspectives on financial distress. The results indicate that a wide range of variables, such as economic downturns, irregular revenue, high cost of living, and management concerns within businesses, are responsible for financial hardship among employees in the hotel industry in Imo State. Employees also mentioned that worry, anxiety, and job instability were direct effects of their financial hardship. Based on the results, a number of suggestions are made to lessen financial hardship. These include putting in place financial literacy initiatives for staff members, enhancing management-staff communication and transparency, supporting ethical labor practices, and encouraging social support systems within the workplace. (shrink)

New trends in the economic systems management in the context of modern global challenges: collective monograph / scientific edited by M. Bezpartochnyi, in 2 Vol. // VUZF University of Finance, Business and Entrepreneurship. – Sofia: VUZF Publishing House “St. Grigorii Bogoslov”, 2020. – Vol. 1. – 309 p.

The paper deals with the basic concepts and key problems of creating financial stability, as well as the role of central banks in its provision. The role of central banks in providing financial stability is extremely important and has a double manifestation - is the maintenance of the stability of the national currency and the responsibility for the stability of commercial banks and the banking system. The central element of any financial system is always banks, (...) so the emergence of systemic instability in the banking sector always has a negative impact on financial stability in general and has extremely negative socio - economic implications for the country as a whole. The present study provides a thorough analysis of the essence of financial stability, the main challenges faced by central banks in monitoring financial sector and examines the global experience of central banks of different countries to ensure financial stability and their role in these processes. This paper highlights the common and distinctive features of the activities of the central banks of the most developed and developing countries towards the achievement of financial stability. Our paper focuses on the activities of the National Bank of Ukraine. In particular, its role in ensuring financial stability of the country is described and directions of its consolidation are indicated. The major task of the National Bank of Ukraine on the way to financial stability in the post -crisis period selected, the maximum possible mitigation Ukrainian banks consequences of the global financial crisis; increase of financial stability of banking institutions; strengthening of public confidence in banks and the banking system. As a result of the conducted, the key factors of achievement of the set tasks, as well as the main directions of application of monetary instruments of the National Bank of Ukraine in the activities aimed at increasing the stability of banks and ensuring financial stability, were determined. (shrink)

The study present how in the late 1930s-1940s a new, modern pension system was introduced in America without any theoretical basis, as a kind of arbitrary mix of existing pension systems, to replace the by then non-functioning “traditional pension system” in which working children maintained their ageing parents in exchange for having been raised. Later, in 1958, they found an ideology for the system, “solidarity between generations,” but this didn’t fit in with the system’s economic (...) foundations, with the fact that the modern, pay-as-you-go pension system distributes the profits of raising children amongst the older generation regardless of how much people have contributed to it. This made raising children unprofitable, which provided a strong incentive to avoid it, thus launching the ageing process. Moreover, the modern pension system, also as a result of ageing, is making increasingly large and uncovered promises to the retired generation. The system may be repaired by matching the asset side to the liabilities side, for example, by only promising a pension to those who have contributed to the system, and only to the extent of that contribution. Contribution payments are an obligation, the repayment of the cost of people’s upbringing, with relation to which no pension is automatically due. By doing so, the 3rd pillar of the modern pension system will also have been capitalized using a special kind of capital: human capital. (shrink)

In the beginning of the 1970s, Michel Foucault dismisses the terminology of ‘exclusion’ for his projected analytics of modern power. This rejection has had major repercussions on the theory of neoliberal subject-formation. Many researchers disproportionately stress how neoliberal dispositifs produce entrepreneurial subjects, albeit in different ways, while minimizing how these dispositifs sometimes emphatically refuse to produce neoliberal subjects. Relying on Saskia Sassen’s work on financialization, I argue that neoliberal dispositifs not only apply entrepreneurial norms, but also suspend their application (...) for groups that threaten to harm the population’s profitability. Neoliberal dispositifs not only produce entrepreneurial subjects, but also surplus populations that are expelled from the overall population to maintain its productivity. Here, the concept of ‘exclusion’ is appropriate if understood in Agamben’s sense of an inclusive exclusion. The surplus population is part of neoliberal dispositifs, but only as the element to be abandoned. (shrink)

In the mid-seventeenth century a movement of self-styled experimental philosophers emerged in Britain. Originating in the discipline of natural philosophy amongst Fellows of the fledgling Royal Society of London, it soon spread to medicine and by the eighteenth century had impacted moral and political philosophy and even aesthetics. Early modern experimental philosophers gave epistemic priority to observation and experiment over theorising and speculation. They decried the use of hypotheses and system-building without recourse to experiment and, in some quarters, (...) developed a philosophy of experiment. The movement spread to the Netherlands and France in the early eighteenth century and later impacted Germany. Its important role in early modern philosophy was subsequently eclipsed by the widespread adoption of the Kantian historiography of modern philosophy, which emphasised the distinction between rationalism and empiricism and had no place for the historical phenomenon of early modern experimental philosophy. The re-emergence of interest in early modern experimental philosophy roughly coincided with the development of contemporary x-phi and there are some important similarities between the two. (shrink)

Over the past three decades, Vietnam has transitioned from an agrarian-based, centrally planned economy to a mixed economy with emerging market status. Additionally, projections indicate that Vietnam will be one of the world’s largest economies by 2050 if growth is sustained at present rates. The evolution of the financial sector, which began with the Doi Moi reforms in the mid-1980s, has been central to facilitating this growth. As the economy has expanded, Vietnam has maintained a gradualist approach to developing (...) market-based mechanisms of resource allocation. However, financial markets are still in an embryonic stage and substantial reform is required if the economy is to meet the expected rates of development. Against this backdrop, this dissertation critically evaluates trends and dynamics in Vietnam’s journey of financial development over the past three decades, with a particular emphasis on the experiences of small and medium-sized enterprises (SMEs). Drawing on quantitative analysis, secondary data and interviews conducted with a range of firms and stakeholders, I argue that financial development in Vietnam has had positive effects in terms of increasing access to funding for SMEs. As the financial system has developed, allocative efficiency has improved to the benefit of SMEs. However, some informants criticised the progress made to date, arguing that a funding mismatch still exists. Specifically, weak corporate governance, state-owned enterprises and a lack of derivatives have prevented effective capital market development. Given Vietnam’s high level of political corruption, this paper concludes that policy makers must place more attention on the political-economic structures of Vietnam if achieving middle-income status is to occur. Specifically, a tighter and more controlled effort to dismantle corporate bureaucracy and nepotism would allow better access to funding for Vietnamese SMEs. (shrink)

The results of the authors’ research in a scientific monograph are devoted to solving the problems of forming and improving new concepts and strategies for managing economic systems, and mechanisms for their implementation in the context of modern world challenges to society on the basis of models of managing economic entities. An important component of the scientific monograph is the formation of modern strategies for increasing the competitiveness of economic systems, improving corporate structures, innovative restructuring of enterprises, ensuring (...) environmental safety, approaches to implementing a supply chain logistics management system, making effective decisions in the forecasting system, developing e-commerce, implementation of information technologies in project financing, controlling, education system, etc. The research results presented in the scientific monograph reflect the theoretical and practical aspects of the implementation of organizational-economic mechanisms for managing economic systems in the context of modern world challenges, conditions of constantly changing market conditions and instability of markets for goods and services, preservation and optimization of the resource potential of economic entities, the introduction of modern innovative technologies and digitalization of economic activities. (shrink)

This paper aims to identify computerized management information systems resources and their relationship to the development of performance in the Electricity Distribution Company in Gaza. This research used two dimensions. The first dimension is computerized management information systems and the second dimension the Development of Performance. The control sample was (063). (360) questioners were distributed and (306) were retrieved back with a percentage of (85%). Several statistical tools were used for data analysis and hypotheses testing, including reliability correlation using Cronbach’s (...) alpha, “ANOVA”, Simple Linear Regression and Step Wise Regression. The overall findings of the current study suggested the presence of a statistically significant relationship between resources (physical, software, and human and organizational) for the computerized management information systems and the development of performance in the Electricity Distribution Company in Gaza. The study recommended the following: The need to strengthen the company's management interest in the potential of computerized management information systems and using them in the computerization of all the company's activities. And the need to involve workers and users in the design of computerized management information systems and assessment and development process. And strengthen the relationship between users and information systems personnel in the department responsible for the system. And it is essential that the company is developing the infrastructure for information technology in general, and computerized management information systems, in particular for the development of performance. And increase interest in providing resources (physical, software, and human and organizational) for the computerized management information systems. The current study is unique by the virtue of its nature, scope and way of implied investigation, as it is the first study at Electricity Distribution Company in Gaza resources explores the status of Computerized management information systems and their relationship to the development of performance in the Electricity Distribution Company in Gaza increasing interest in Computerized management information systems through continuity, keeping pace with technological means and modern techniques. (shrink)

This special issue introduces the study of financial technologies and finance to the field of philosophy of technology, bringing together two different fields that have not traditionally been in dialogue. The included articles are: Digital Art as ‘Monetised Graphics’: Enforcing Intellectual Property on the Blockchain, by Martin Zeilinger; Fundamentals of Algorithmic Markets: Liquidity, Contingency, and the Incomputability of Exchange, by Laura Lotti; ‘Crises of Modernity’ Discourses and the Rise of Financial Technologies in a Contested Mechanized World, by Marinus (...) Ossewaarde; Two Technical Images: Blockchain and High-Frequency Trading, by Diego Viana; and The Blockchain as a Narrative Technology: Investigating the Social Ontology and Normative Configurations of Cryptocurrencies, by Wessel Reijers and Mark Coeckelbergh. (shrink)

In the last 10 years, after becoming the official member of WTO in 2007, Vietnam has made commitments to the comply with the US-Vietnam Bilateral Trade Agreement and other international economic agreements. Vietnam has also become a member of the AEC and entered into important free trade agreements, notably the Trans Pacific Partnership. The financial integration of Vietnam in the global economy has been increasing rapidly. However, Vietnam also witnesses the unexpected economic fluctuations domestically and internationally. The global (...) class='Hi'>financial crisis, especially the US financial crisis, exerts a major impact on Vietnam’s economy and its banking system. Accordingly, the real estate market, stock market and banking system in Vietnam have fluctuated remarkably. This article discusses the causes of the US financial crisis and analyses the US government’s solutions. The causes of the US financial crisis are distributed to lax lending standards, failures in regulations of derivates financial instruments, and lack of state control of banking systems. In this respect, recommendations are made for Vietnam’s case. (shrink)

The paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline (...) in its security was the result of a complex interaction of external and internal factors, the main of which were tight government regulation, shifting the financial burden of social responsibilities to Ukrzaliznytsya, PJSC, lack of competition in the transportation of the main nomenclature of cargo and the unsatisfactory state of non-current assets. Based on the Argenti’s method, it is shown that the consequence of the inefficient financial management of Ukrzaliznytsia, PJSC are the reduction of its insolvency. Three main determinants of the financial security of rail enterprises were identified: a reduction in traffic volumes, an unstable capital structure and the impossibility of timely repayment of current liabilities. An additive model for assessing the impact of selected determinants on the level of financial security of Ukrzaliznytsia, PJSC is proposed. The analysis of the model parameters showed that the greatest impact has the index of industrial production, which is due to the predominant formation of its own financial resources of rail transport due to income from freight traffic. A complex of measures designed to improve the financial condition of rail enterprises was proposed. It is substantiated that in order to equalize existing threats, it is necessary to take political decisions aimed at improving the financial condition of Ukrzaliznytsia, PJSC by reducing the intensity of leaching of its financial resources, as well as implementing an anti-crisis financial strategy aimed at optimizing the capital structure and financial rehabilitation of rail enterprises. (shrink)

The research aims to identify the reality of modern methods applied in the process of performance assessments of employees in the municipalities of Gaza-strip, Complete Census method of community study was used, (571) questionnaires were distributed to all members of the community study, (524) questionnaires were recovery with rate of (91.76%). The most important findings of the study: There were statistically significant relationship differences between the applications of modern methods in the performance assessments of employees in the municipalities (...) of Gaza-strip. There was statistically significant relationship between the evaluation criteria that fit the required performance and the application of standards evaluations on performance of employees in the municipalities of Gaza-strip. There was statistically significant relationship between the use of methods, models for the evaluation of appropriate functions and the application of the performance assessments of employees in the municipalities of Gaza-strip. There was statistically significant relationship between the feedback and the application of performance assessments of employees in the municipalities of Gaza-strip. There was statistically significant relationship between the efficient, professional assessors and the application of the performance assessments of employees in the municipalities of Gaza-strip. There was statistically significant relationship between the extent of awareness of subordinates, participation in the evaluation of their performance and the application of the performance assessments of employees in the municipalities of Gaza-strip. The research also concluded a series of recommendations, including: that the design of evaluation models must be done with the participation of the employees and inform them of it, and that a date must be set to provide feedback and discuss the results with them, that they should be allowed grievance in front of an ad hoc committee in accordance with the known system. Direct manager must inform employees of their performance assessment date, discuss the results of the evaluation with them, and others should be involved with the direct manager of employees in their performance evaluation. The application of modern methods of performance evaluation through the good and purposeful planning should be used, analyzing and employing the results in administrative decisions regarding the employees, and the application of modern methods must be used in an effective and efficient performance evaluation. (shrink)

The novel coronavirus (COVID-19) has imperatively shaken the behavior of the global financial markets. This study estimated the impact of COVID-19 on the behavior of the financial markets of Europe and the US. The results revealed that the returns of the S&P 500 index have been greatly affected by a lockdown in the US owing to COVID-19. However, the health crisis generated due to the novel coronavirus significantly decreased the stock returns of the Nasdaq Composite index. The results (...) also showed that the economic crisis generated from the pandemic in Spain has had more impact on the IBEX 35 as compared to the health crisis itself. On the other hand, in the long-run, Italy’s stock markets are more affected by the health crisis as contrasted with the economic crisis, while, in the short-run, both lockdown conditions and economic instability lower the stock returns of FTSE MIB. The UK stock markets witnessed that in the short-run, deficiency of health management systems imperatively damaged the stock returns of the London Stock Exchange. The investigation revealed that deficiency of health systems and lockdown conditions have imperatively damaged the structure of financial markets, inferring that sustainable development of these nations is at risk due to COVID-19. The study suggested that governments should allocate more of their budget to the health sector to overcome a health crisis in the future. (shrink)

Henri Lelevel’s La philosophie moderne par demandes et réponses is a very interesting as well as pretty neglected attempt to disseminate the new philosophy among a larger audience, including the non specialists. Either the style of presentation or the oversimplification of the topics discussed is clearly intended to reach people interested to a smattering of philosophy. More than the comparisons between the traditional and the new philosophy and the compendia, this work vouches for the great interest toward the new philosophy. (...) In this particular case the model is the philosophy of Malebranche, whose interpretation of Descartes thought is preferred by Lelevel, worried by the excessive twist given toward empiricism in P.-S. Régis rendering of Cartesian philosophical system. Lelevel’s logic is directed to eliminate the confusion between sense data and knowledge, echoing also Malebranche’s notion of éténdue idéale, one of the major contribution to the reconsideration of Descartes’ thought. This paper aims to sketch the mains topics discussed in the four sections of Lelevel’s work, with some cross-references to Malebranche’s writings. (shrink)