To see the other types of publications on this topic, follow the link: Debt Management Office.
Journal articles on the topic 'Debt Management Office'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Debt Management Office.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Allen, William A. "Quantitative Easing and the Independence of the Bank of England." National Institute Economic Review 241 (August 2017): R65—R69. http://dx.doi.org/10.1177/002795011724100115.
Full textAbstract:
This paper argues that the Bank of England's independence in monetary policy has been compromised as a result of quantitative easing (QE) and makes practical suggestions for restoring it as far as possible, by transferring the gilts that the Bank has bought to the Debt Management Office of the Treasury and thereby shrinking the Bank's balance sheet. The paper discusses the problems that will arise when QE is unwound and suggests that they would be less intractable if the unwinding were managed by the Debt Management Office.
2
Victoria, Opara Ihunna, Nzotta Samuel Mbadike, and Kanu Success Ikechi. "Nigeria’s Domestic Public Debts and Economic Development." INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE AND BUSINESS ADMINISTRATION 7, no. 5 (July 2021): 7–22. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.75.1001.
Full textAbstract:
This study investigates the effect of Nigeria’s domestic public debt on economic development of Nigeria spanning from 1981-2018. This is in response to the doubts being raised in some quarters as to whether the continuous increase in domestic debt over the years has led to the economic development of Nigeria as the former has been known to influence the later if well harnessed and executed. The secondary data used in the study were sourced from Central Bank of Nigeria Statistical Bulletin, Debt Management Office of Nigeria, World Bank Development Indicators and United Nations Development Program. The study made use of Ordinary Least Square Regression tools to determine the statistical relationship between Nigeria’s domestic public debt profile and Human Development Index as well as private sector investment. The outcome of study in the first model showed that domestic debt servicing and state governments’ domestic debts are significantly related to economic development. On the other hand, Federal domestic debt and State domestic debt are significantly related to private sector investment. The study therefore recommends that government should be cautious in her domestic borrowing policy given that servicing debt always becomes a burden to the sustainability of economic gains, in addition to its tendency of crowding-out private sector investment in Nigeria.
3
Misztal, Piotr. "Public Debt and Economic Growth in the European Union. Empirical Investigation." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (January 5, 2021): 199–208. http://dx.doi.org/10.37394/23207.2021.18.21.
Full textAbstract:
The relatively high sizes of public debts in many of the world's member states have led to frequentdebates concerning the influence of public debt on economic growth. Analyzing economic literature it can beseen, that theoretical and empirical considerations on this topic are divided into three main parties. The firstpart of analyzes is the work of the Keynesians, which emphasizes that the budget deficit as well as the publicdebt positively affects the economic development of the country, mainly through the impact of the budgetexpenditure multiplier. The opposite view on budget deficits and public debt is represented by the neoclassicalschool, who argue that the budget deficit and public debt can have negative impact on economic growth.Conversely, proponents of the Ricardian equivalence concept believe that budget deficits and public debt areneutral for economic growth. These three mentioned above approaches to the budget deficit and public debtproblem have led to many debates at home and abroad about the importance of budget deficit and public debt inthe process of economic growth and economic development of the country. The main objective of the study isto determine the impact of the foreign debt and home debt on economic activity of the country, based on theexample of the 27 member countries of the European Union (without United Kingdom) in the period 2006-2017. The statistics came from the European Statistical Office (Eurostat) and International Monetary Funddatabase (World Economic Outlook).
4
Masilo, K. H. "Perceptions of the National Credit Regulator on the usefulness of the debt counselling process in South Africa." Journal of Economics and Behavioral Studies 9, no. 6(J) (January 15, 2018): 208–14. http://dx.doi.org/10.22610/jebs.v9i6(j).2017.
Full textAbstract:
The South African National Credit Regulator is responsible for the regulation of credit industry, registration and training of debt counsellors, enforcement and monitoring compliance of the provisions of the National Credit Act. The aim of this paper is therefore to analyse the perceptions of the National Credit Regulator on the usefulness of debt counselling process in South Africa. A qualitative approach, which was exploratory in nature, was adopted for this study. Ten employees from the National Credit Regulator’s office were interviewed. There was no evidence that debt counsellors were managing the debt counselling service effectively. It was also observed that the debt counsellors received insufficient support from the National Credit Regulator. The paper recommends that the National Credit Regulator should adequately support the debt counsellors so that they can effectively manage debt counselling service and ultimately assist the overindebted consumers. Debt counsellors training curriculum should also be outcomes- based approach with exposure to business management.
5
Masilo, K. H. "Perceptions of the National Credit Regulator on the usefulness of the debt counselling process in South Africa." Journal of Economics and Behavioral Studies 9, no. 6 (January 15, 2018): 208. http://dx.doi.org/10.22610/jebs.v9i6.2017.
Full textAbstract:
The South African National Credit Regulator is responsible for the regulation of credit industry, registration and training of debt counsellors, enforcement and monitoring compliance of the provisions of the National Credit Act. The aim of this paper is therefore to analyse the perceptions of the National Credit Regulator on the usefulness of debt counselling process in South Africa. A qualitative approach, which was exploratory in nature, was adopted for this study. Ten employees from the National Credit Regulator’s office were interviewed. There was no evidence that debt counsellors were managing the debt counselling service effectively. It was also observed that the debt counsellors received insufficient support from the National Credit Regulator. The paper recommends that the National Credit Regulator should adequately support the debt counsellors so that they can effectively manage debt counselling service and ultimately assist the overindebted consumers. Debt counsellors training curriculum should also be outcomes- based approach with exposure to business management.
6
Musiał, Marta. "PERSONAL FINANCE MANAGEMENT IN POLAND FROM 2004-2013." CBU International Conference Proceedings 3 (September 19, 2015): 213–17. http://dx.doi.org/10.12955/cbup.v3.603.
Full textAbstract:
This article describes the state of household finance management in Poland. The analysis consists of three basic elements of household finance, such as income and expenditure of Polish households, savings and investments of Polish households, and Polish households debt. The presented data represent the time period from 2004 to 2013. The data came from reports of National Central Bank in Poland and Central Statistical Office in Poland. Based on the presented data, it can be said that the situation of Polish household has improved during the analyzed period. Moreover, Polish household characterized risk aversion decision by saving their money mostly in the form of bank deposit or cash.
7
Tuncer, A. Murat, Mehtap Tatar, and İsmet Şahin. "University hospitals in Turkey: Structural crisis in financing or consequence of mismanagement?" Journal of Hospital Administration 6, no. 4 (July 25, 2017): 52. http://dx.doi.org/10.5430/jha.v6n4p52.
Full textAbstract:
University hospitals in Turkey have a prominent role especially in treatment of complex cases and research. However, despite their indispensible place in the health care system, their financial status has long been on the agendas of the Turkish health policy-makers and is seen as a major threat to the financial sustainability of the whole system. It has been reported that the total debt of university hospitals has reached to 4.5 billion TRY (1.1 billion €) in 2016. This debt is to the third parties that provide medical devices, pharmaceuticals or services to these hospitals. There is also an increasing trend in university hospital debts calling for an urgent attention from the government. This article aims at exploring the financial status of university hospitals and showing that with a new management approach focusing on efficiency and effectiveness measures, the problem could be overcome. The example from Hacettepe University Hospital showed that a problem solving management approach and a reformist vision between December 2011-January 2016 has resulted in major improvements in the financial status of the hospital. The debts of the hospital were stabilized in this period by policies focusing on increasing number of patients and procedures, by decreasing the cost of purchasing goods and materials and by following the Social Security Institution’s (SSI) payment procedures. Starting from January 2016 a new management took the office and abandoned the measures taken by the previous administration. This led to an increase in hospital debts again. The article concluded that despite a volatile reimbursement environment, good management practices could help university hospitals to sustain their financial status.
8
Ibrahim, Ayuba K., and Shazida Mohd Khan. "Domestic Debt and Economic Growth in Nigeria: An ARDL Bounds Test Approach." Economics and Business 33, no. 1 (January 1, 2019): 50–68. http://dx.doi.org/10.2478/eb-2019-0004.
Full textAbstract:
Abstract The study examines the long-run relationship between domestic debt and the fiscal policy of economic growth in Nigeria in the period from 1981 to 2013 owing to government reforms in the financial system, particularly due to the establishment of the Debt Management Office (DMO) in 2000 and a new fully funded pension fund scheme, both of which resulted in a resurgence of the debt market. The issue that is often raised is the doubt regarding the stability of the debt and its likely implications for the economy, as well as the unpleasant consequences for the government embarking on consolidation. The study employs the autoregressive distributed lag (ARDL) approach and the bounds test as proposed by Narayan (2005), anchored on the perspective of the endogenous growth theory. The results reveal that although overall the adverse negative domestic debt hurts the economy, it has a positive effect on the total aggregate government revenue and economic growth in Nigeria in the research period. Furthermore, the paper develops a system to assess the speed of the adjustment mechanism coefficient in an error correction model (ECM).
9
Mohammadi, Shaban, Hamid Saremi, and Mina Almasi. "The role of management changes in the auditor's report." International Journal of Accounting and Economics Studies 3, no. 2 (July 2, 2015): 117. http://dx.doi.org/10.14419/ijaes.v3i2.4830.
Full textAbstract:
<p>The purpose of this study was to identify the relationship between the company management and auditors have commented. This in-clouds the period from 2002 to 2012. The study sample included 100 companies from a number of listed companies on the Stock Ex-change in Tehran. This research is a correlation. Test hypotheses based on multivariate regression was performed. research findings indicate that the auditor's opinion the most affected factors such as change management, audit fees, auditor's term of office, firm size, debt ratio, the ratio of profit and loss is reported. The results emphasize that the management of change increases, the number of items before the said paragraph comments reduced.</p>
10
Mahajan, Abhimanyu, Carolyn Cahill, Eugene Scharf, Sahil Gupta, Stephanie Ahrens, Elizabeth Joe, and Logan Schneider. "Neurology residency training in 2017." Neurology 92, no. 2 (December 5, 2018): 76–83. http://dx.doi.org/10.1212/wnl.0000000000006739.
Full textAbstract:
ObjectiveTo survey graduating US neurology residents on the topics of debt, fellowship interview process, future plans, and their readiness for practice and business management tasks.MethodsAn electronic survey was sent to all US American Academy of Neurology member adult and child neurology residents graduating in June 2017.ResultsThe response rate was 23.4% (n = 159). Of the 143 residents who provided information about student loans, 57% reported having debt (median $180,000). Ninety percent of respondents reported plans to pursue a fellowship after residency; 57% intended to stay at their home institution for additional training. Among respondents from adult neurology programs, 87% preferred to begin the fellowship application process after the first 6 months of the third postgraduate year. Almost half (46%) of adult neurology program residents felt they did not have enough outpatient exposure prior to making fellowship decisions compared to 14% of child neurology trainees. Although reported readiness to perform specific tasks (coding and office management) increased since 2007 (p < 0.05), only 36% of all respondents reported receiving business management training during residency.ConclusionTrainees completing residency report considerable educational debt. A large majority of residents feel the fellowship application process occurs too early. Despite improvements over recent years, the majority of residents continue to feel ill-prepared for specific practice management tasks. These results suggest a need to better understand the effect of educational debt on career choices, an examination of the timing of the fellowship application process, and the incorporation of additional business management training during residency.
11
Raghuram, G. "Precious Shipping Public Company Limited." Vikalpa: The Journal for Decision Makers 26, no. 3 (July 2001): 39–56. http://dx.doi.org/10.1177/0256090920010306.
Full textAbstract:
Precious Shipping Public Company Limited (PSL) went through a process of financial restructuring in response to the economic crisis that hit Thailand in 1997. PSL faced trouble since payments were due in dollars and they had investments in Thai baht, which had devalued during the crisis. Being a professionally managed company with a high level of transparency in their transactions, they came out of the situation by managing to restructure their secured and unsecured debts. A large part of the unsecured debt proved a little more complex since it was tied to a swap. The case describes the financial restructuring process and the business scenario during the crisis, and provides an opportunity for learning about financial risk management. Readers are invited to send their responses on the case to Vikalpa Office.
12
Thomas Duro, Ayodele, Williams Harley Tega, Afolabi Taofeek Sola, and Adeyanju David Olanrewaju. "An Empirical Analysis of Public Borrowing and Economic Growth in Nigeria." International Journal of Economics and Financial Research, no. 611 (November 7, 2020): 243–48. http://dx.doi.org/10.32861/ijefr.611.243.248.
Full textAbstract:
This study seeks to evaluate the impact of public borrowing on economic growth in Nigeria using time series data from 1980 to 2018. Specifically, the study seeks to analyze the effect of domestic debt (proxy by Federal Government Bonds-FGB) and external debt (proxy by International Monetary Fund Loan-IMFL) on Nigerian’s Gross Domestic Product (GDP). To achieve this objective, secondary data was collected from the Central Bank of Nigeria Statistical bulleting and the Debt Management Office of Nigeria. A multiple regression model involving the dependent variable (GDP) and the independent variables (FGB and IMFL) was formulated and subjected to econometric analysis. These variables were adjusted with the Jarque-bera test of normality while the correlation result was used to check the possibility of multi-collinearity among the variables. The t-test was used to answer the research questions and test the formulated hypotheses at the 5percent statistical level. Results from the analysis show that a positive relationship exists between IMF Loan and Nigeria’s gross domestic product, while a negative relationship exists between FG Bonds and Nigeria’s gross domestic product, which violates the Keynesian theory of public debt. The study concludes that both domestic and external debt significantly affect economic growth in Nigeria. Therefore, it was recommended that public borrowing should be efficiently used and contracted solely for economic reasons and not for social or political reasons as this will help to avoid accumulation of debt stock over time.
13
Rahayu, Gustina, and Suharizal Suharizal. "PELAKSANAAN LELANG EKSEKUSI PANITIA URUSAN PIUTANG NEGARA DITINJAU DARI ASPEK HUKUM ADMINISTRASI NEGARA." ALHURRIYAH: Jurnal Hukum Islam (ALHURRIYAH JOURNAL OF ISLAMIC LAW) 4, no. 1 (June 30, 2019): 45. http://dx.doi.org/10.30983/alhurriyah.v4i1.1501.
Full textAbstract:
<em><span>The Committee for State Debt Affairs (PUPN), which is in the center of the capital city of the State, is a committee to streamline the implementation of authority and duties. An institution called the State Receivables Affairs Agency was renamed the State Debt and Auction Agency which has now changed the Directorate General State Accounts Receivable and Auction which is then the Directorate General of State Assets, this Agency is directly under and is responsible to the Minister of Finance for operations in the city and regency areas. The Office of State Receivables and Auction Management is formed (hereinafter referred to as KPKNL) the name is the State Wealth and Auction Office (hereinafter referred to as KPKNL). Confiscated Auction of the State Receivables Affairs Committee is an auction carried out on confiscated goods of the State Receivables Affairs Committee which is a debt guarantee at state banks. if given by a government bank to a debtor when faced with a problem the debtor cannot repay his credit payment based on a agreed credit agreement, the bank has taken measures so that the debtor can pay off his credit payments, so in the case of non-performing loans as state accounts uncollectible. This research is a sociological juridical, namely the approach taken to applicable legal norms is related to the facts in the field. That since the issuance of the Decision of the Constitutional Court Number 77 / PUU-IX / 2011 concerning the testing of Law Number 49 Prp Year 1960 concerning the Committee on State Receivables with the State Constitution of the Republic of Indonesia in 1945 resulted in the decision that the Bank's State Owned Enterprise Receivables are not Other State Receivables so that the settlement of Receivables is no longer delegated to the Committee of State Receivables Affairs but the settlement of the Receivables can be settled through the mechanism of each banking company using the principles of a sound banking company. Based on the results of this study, suggestions are suggested. Further study in the State Financial Law relating directly to the State Debt Affairs Committee Execution concerning the delegation of authority previously carried out by the State Debt Affairs Committee under the Minister of Finance was then carried out through the mechanism of each banking company because this is directly related to the accountability of State finances.</span></em>
14
Desmiwerita and Ebit Bimas Saputra. "ANALYSIS OF CASH FLOW REPORTS IN ASSESSING FINANCIAL PERFORMANCE AT THE PESISIR SELATAN DISTRICT HEALTH OFFICE." Dinasti International Journal of Management Science 1, no. 2 (December 9, 2019): 181–90. http://dx.doi.org/10.31933/dijms.v1i2.53.
Full textAbstract:
The Pesisir Selatan District Health Office Technical Implementation Unit that has been determined to apply the Financial Management Pattern of the BLUD Work Unit is given in the form of flexibility or flexibility to apply sound business practices to optimally improve health services to the community. Testing the hypothesis in this paper by using a comparison of the value of the test sign with the test table sign. The results of the study found (1) The evaluation of cash flow performance through the current liability ratio in the South Pesisir District Health Office is not good, so the department is unable to pay its current liabilities using only operating cash flow. (2) Evaluation of cash flow performance through the capital expenditure ratio shows quite good results from year to year so there is no need to wait for external funding such as creditors and investors. However, in the last 2 years, there has been a decline so external funding is needed. (3) The evaluation of cash flow performance through debt expenditure ratios at the South Coastal District Health Office is not good. The company does not have a good ability to pay all of its obligations using cash flow originating from the company's normal operating activities and (4) The results of the answers to the second problem found in the South Pesisir District Health Office have applied to account by PSAP and Government Regulation Number 71 of 2010 both in terms of Operating Activities, Non-Financial Asset Investment Activities, Financing Activities, and Non-Budget Activities.
15
Domokos, László, and Gyula Pulay. "Sustainable Budget and the Sustainability Appearing in the Budget." Pénzügyi Szemle = Public Finance Quarterly 65, Special edition 2020/2 (2020): 25–56. http://dx.doi.org/10.35551/pfq_2020_s_2_2.
Full textAbstract:
Fiscal sustainability has become one of the most important requirements of fiscal policy over the past two to three decades. Hungary’s Fundamental Law stipulates that Hungary enforces the principle of sustainable budget management. In international practice, fiscal sustainability is often identified with preserving the solvency of the state and the sustainable financing of public debt. The risks related to the fulfilment of the constitutional requirement to reduce public indebtedness are also regularly assessed by the State Audit Office, for which it has developed its own risk analysis method. The authors of the article define fiscal sustainability as a series of budgets that provide coverage for the public goods needs of present generations while increasing the capacity and opportunity of future generations to meet their own future needs. Based on this, and building on the resolution of the National Assembly and international good practices, they present how the coverage of Sustainable Development Goals can be integrated into the respective budgets in a transparent and accountable way.
16
Wiberg, Daniel. "Risk-adjusted performance of Swedish bond funds in the years 2000-2003; An application of the Modigliani-measure." Corporate Ownership and Control 4, no. 1 (2006): 284–92. http://dx.doi.org/10.22495/cocv4i1c2p4.
Full textAbstract:
This paper compare Swedish long-term bond funds’ returns against the OMRX-TBond, which is the major index of long-term bonds issued by the Swedish National Debt Office and other major Swedish bond issuers. The evaluation is made on a total return level as well as on a risk-adjusted basis. To measure risk-adjusted performance a performance measure developed by Modigliani and Modigliani (1997) is used. The main advantage with the Modigliani-measure is that it measures performance in basis points like the original return of any asset. By using the Modigliani-measure the study illustrates the importance of risk-adjustment when comparisons are made between benchmarks, such as an index, and mutual funds or portfolios investing in that particular market. When risk-adjusted, the performance of many of the Swedish mutual funds improved noticeably, most of them however, still underperform the index OMRX-TBond by a few percentage points when risk-adjusted with the M2-model. This result gives support to the idea originally presented by Sharpe (1966) and Jensen (1968), that the majority of mutual funds significantly underperform the market
17
Caruana, Josette, and Kimberly Zammit. "Losing control: the gap in multi-level government reporting." Journal of Public Budgeting, Accounting & Financial Management 31, no. 2 (June 3, 2019): 264–84. http://dx.doi.org/10.1108/jpbafm-10-2018-0110.
Full textAbstract:
PurposeThe purpose of this paper is to analyse the relationship between control by the Maltese Central Government on Local Government and the format and basis of budgetary and financial reporting used. The study analyses the role of reporting in agency and fiscal federalism theories.Design/methodology/approachSemi-structured interviews were carried out with the controller (Central Government officials and the National Audit Office), while a survey was carried out with the controlled (Maltese Local Councils).FindingsThe type of reporting used by Maltese Local Councils may be undermining the control that Central Government seeks to exercise on overspending and debt levels. The Local Councils’ financial statements report accrual deficits and increasing liabilities. This overspending appears to slip through Parliamentary scrutiny because the latter approves cash allocations to Local Councils; the financial reports submitted to Parliament do not highlight overspending in cash terms; and the cash budget execution report that should be prepared by Local Councils is not given due importance.Originality/valueCentral Government should be consistent in its policy towards Local Government, which may require more elaborate reporting. This study highlights the importance of aligning the reporting required (top-down) and the reporting presented (bottom-up) – otherwise, control is at stake.
18
Marotta, Giuseppe. "Behind the success of dominated personal pension plans: sales force and financial literacy factors." Journal of Pension Economics and Finance 19, no. 4 (November 12, 2019): 532–47. http://dx.doi.org/10.1017/s1474747219000209.
Full textAbstract:
AbstractThe revealed preference for dominated insurance-based personal pension plans (PPPs) in Italy is a decade-long puzzle. I surmise that a motivation from the supply side is a sales force factor deriving from the geographical distribution of financial providers, including the countrywide network of the state controlled Post Office. I provide supporting evidence using three biennial waves of the Bank of Italy's survey on household finances from 2010 to 2014. The time interval includes a public pension system reform sharply raising the statutory age retirement, legislated in December 2011 to defuse a sovereign debt crisis. I show that the salience effect on the awareness of the benefits of supplementing lower perspective public pensions with PPPs increased the explanatory power of financial strength indicators. Exploiting a module in the 2010 wave I estimate a surprising decrease in the probability of subscription to PPPs in 2014 associated with the indicator for the highest financial literacy level.
19
Mulawan, Frediek. "Analisis Hubungan Sun, Inflasi, dan Suku Bunga di Indonesia." Indonesian Treasury Review Jurnal Perbendaharaan Keuangan Negara dan Kebijakan Publik 1, no. 2 (September 9, 2016): 65–79. http://dx.doi.org/10.33105/itrev.v1i2.49.
Full textAbstract:
This research analyzes response variabels caused by economic shocks to investigate the determined variabels which influence other variabels. To answer the research questions, the analysis of VAR or VECM was used in this study, in particular the test IRF and VDC. This study uses secondary data such as time series data from Indonesia Debt Management Office, Bank Indonesia, and the Statistics Bureau from January 2010 to December 2013. The results indicate that inflation is an important variabel in determining economic parameters in Indonesia, with a very strong influence on other variabels over the long run. Abstrak Penelitian ini menganalisis respon variabel-variabel terhadap guncangan yang timbul dari peristiwa ekonomi, dan untuk mengetahui variabel yang paling berpengaruh dalam mempengaruhi variabel lainnya. Analisis VAR atau VECM digunakan dalam penelitian ini, khususnya dalam uji IRF dan uji VDC dalam menjawab permasalahan. Penelitian ini menggunakan time series data sekunder dari publikasi DJPU, Bank Indonesia, dan BPS dari bulan Januari 2010 sampai dengan Desember 2013. Hasil yang didapatkan menunjukkan bahwa variabel inflasi merupakan variabel yang penting dalam perekonomian Indonesia. Dalam jangka panjang, inflasi mempunyai pengaruh yang sangat kuat terhadap variabel lainnya.
20
Insani, Chairul. "Bank Credit Agreement With Warranty Of Decree Appointment Of Civil Servants." Jurnal Akta 7, no. 3 (September 10, 2020): 293. http://dx.doi.org/10.30659/akta.v7i3.11280.
Full textAbstract:
The relationship between the bank and the customer in the credit agreement with the guarantee of a Decree on the Appointment of Civil Servants begins with the arrival of the customer at the PT. Bank Rakyat Indonesia (Persero) Tbk, Palembang branch on working days and hours to provide complete requirements and fill in loan application forms that can be taken immediately at the PT. Bank Rakyat Indonesia (Persero) Tbk, Palembang branch. Then proceed with the bank conducting a field survey to ensure that the debtor is indeed a civil servant according to the data written by the debtor and an assessment of the potential debtor's ability to pay off his debt. And it ends with the disbursement of credit funds by banks to debtors for the loan ceiling of 60% of the employee's net salary according to the class / rank owned by the customer / prospective debtor. This research uses an empirical juridical approach. This method is used to obtain the truth in discussing existing problems and to see the application of a rule of law in society. The analysis is carried out descriptively which will describe, describe and reveal how the actual implementation of the credit agreement with the guarantee of Civil Servant Decree at PT. Bank Rakyat Indonesia (Persero) Tbk, Palembang branch. The efforts of the banking sector to secure credit with the guarantee of a Decree on the Appointment of Civil Servants who are problematic are based on fulfilling the requirements and completeness of the identity data of the prospective debtor, the second is the provision of a period for debt repayment where the period does not exceed 5 years, and finally, the submission of a guarantee for the Decree of the Appointment of Civil Servants, all of which must be original. Credit settlement with the guarantee of a Decree on Appointment of Civil Servants who defaults, namely, first, deliberation with the debtor to fulfill the element of good faith, if it has not been responded to, the first legal route will be taken through the judiciary, the second through KP2LN (State Receivables and Auction Management Office). If the debtor is a mutation, it is requested or confirmed in advance to the office / agency where the debtor works to transfer funds against credit repayments with the guarantee of a Decree on the Appointment of Civil Servants.
21
Erol, Isil, and Tanja Tyvimaa. "Explaining the premium to NAV in publicly traded Australian REITs, 2008–2018." Journal of Property Investment & Finance 38, no. 1 (September 17, 2019): 4–30. http://dx.doi.org/10.1108/jpif-06-2019-0078.
Full textAbstract:
Purpose The purpose of this paper is to explore the levels and determinants of net asset value (NAV) premiums/discounts for publicly traded Australian Real Estate Investment Trust (A-REIT) market during the last decade. A-REITs were severely affected by the global financial crisis as S&P/ASX 200 A-REIT index-listed property stocks experienced 47 per cent discount to NAV, on average, in 2008–2009 crisis. Since 2013, A-REIT sector has exhibited a strong recovery from the financial crisis and traded at high premiums to date. Understanding the relationship between pricing in the public and private real estate markets has taken on great importance as A-REITs continue to trade at significant premium to NAV unlike their counterparts in the USA and Europe. Design/methodology/approach This paper follows a rational approach to explain variations in NAV premiums and explores the company-specific factors such as liquidity, financial leverage, size, stock price volatility and portfolio diversification behind the A-REIT NAV premiums/discounts. The study specifies and estimates a model of cross-sectional and time variation in premiums/discounts to NAV using semi-annual data for a sample of 40 A-REITs over the 2008–2018 period. Findings The results reveal that A-REIT premiums to NAV can be explained not only by the liquidity benefit of listed property stocks but also positive financial leverage effect. During the past decade, A-REITs have followed an aggressive approach in financing their growth by using borrowed funds to purchase assets as the income from the property offsets the cost of borrowing and the risk that accompanies it. Debt-to-equity ratio has to be considered as an important source of NAV premiums as highly geared A-REITs that favoured debt financing over equity financing traded at significant premiums to NAV of their underlying real estate assets. Practical implications The paper includes implications for the REIT market investors. The regression analysis shows that specialty A-REITs with a focus on creative market niches traded at higher premiums compared with other property stocks, especially in the post-GFC recovery period. Specialty REITs are more highly valued by the market than their traditional specialised counterparts (e.g. office and retail REITs), and those pursuing a diversified strategy. Originality/value This paper presents an Australian case study as the A-REIT market provides a suitable environment for testing the effect of financial gearing on the REIT premium to NAV. The study provides empirical evidence supporting the importance of debt-to-equity ratio in explaining the variation in A-REIT NAV premiums.
22
Brotman, Billie Ann. "The feasibility of medical office building green upgrades from an owner/lessor perspective." Journal of Property Investment & Finance 34, no. 4 (July 4, 2016): 375–86. http://dx.doi.org/10.1108/jpif-03-2016-0017.
Full textAbstract:
Purpose – The purpose of this paper is to exam the financial impact on the owner/lessor who is considering a partial energy upgrade to an existing medical office building. The owner who leases the building using a triple net lease does the upgrade prior to leasing the building, with the expectation of earning higher rents. How much should the owner who leases the property spend for a given rent per square foot increase? Design/methodology/approach – The empirical study highlights the impact of key financial variables on the dependent variable medical office construction spending put in place in the USA. The independent variables prime interest rate, cost of natural gas per therm and electricity cost per KWH, resale building prices are significant variables when predicting medical office construction spending. A case study using a cost-benefit model is developed. It inputs corporate income tax rates, incorporates a debt service coverage ratio, prime interest rate, analyzes investment tax credit (ITC) and rebate scenarios and varies the level of rental income and energy savings. The case study results provide insight into which factors are enabling higher net construction spending when considering a green energy retrofit project. Both the regression model and the case study model focussed on the owner of a building who rents medical office space to tenants using a triple net lease. The owner/lessor paradigm analyzes revenue enhancements, the tax implications of having these savings and benefits associated with borrowing when financing the green retrofit. The availability of low cost borrowing, increases in the ITC percent and rebates and increases in rent per square foot have an impact on potential energy upgrade spending. Findings – The empirical model finds the independent variables to be significant. Utility cost, resale value of office buildings, the prime interest rate, business bankruptcy court filings and unemployment rate fluctuations adequately explain movements in medical office building spending for the years 2000 through 2015 yielding a R2 of 73.8 percent. The feasibility case study indicates that the energy saving levels and ITCs not income tax rates are the primary drivers for a partial energy retrofit. Research limitations/implications – Market incentives are a function of the cost of energy. If the cost of energy drops, then the profit incentive to conserve energy becomes less important. The role of tax credits, rebates, property tax reductions and government directives, then become primary incentives for installing energy upgrades. The owner of an empty building assumes all of the operating costs normally paid by a tenant under a triple net lease. This possibility was not included in the replacement cost-benefit model used in this paper. Practical implications – The feasibility of doing an energy upgrade to an existing building requires that a cost-benefit analysis be undertaken. The independent variables that are significant when doing a regression model or proxies for these variables are incorporated into a present value model. The results in Table V can be used as an initial template for determining how much to spend per square foot when doing an energy upgrade. The square foot amounts can be applied to different size office buildings. The corporate income tax rate or a personal income tax rate has minimal impact on energy construction upgrade spending. Social implications – More energy efficient office buildings reduce the amount of greenhouse gases released into the atmosphere. Energy efficient buildings also conserve on scarce fuel reserves. ITCs and rebates limit the role of government in directing decisions to do energy upgrades. The market mechanism to some degree can help encourage energy conservation through asset upgrades. Originality/value – The paper incorporates an empirical model which is a form of technical analysis to examine independent variables that explain medical office building spending with a case study structured on expected revenues and costs which takes a fundamental approach to understanding the relationship between the dependent variable and its independent variables. The regression model combines factors that impact the demand for energy efficient medical buildings from an owner/lessor perspective which includes resale values of existing buildings, business bankruptcy filings and unemployment rates. Supply independent variables include the prime interest rate and electricity per KWH and natural gas per therm. The regression model found these variables to be significant. The case study uses the same independent variables or close proxy variables to determine the maximum financially feasible per square foot spending that can be invested in energy upgrades.
23
Aziz, Shaukat. "Inaugural Address." Pakistan Development Review 44, no. 4I (December 1, 2005): 335–42. http://dx.doi.org/10.30541/v44i4ipp.335-342.
Full textAbstract:
It is a real privilege to be in the midst of such an august gathering for the fourth time in six years. Last night as I was preparing my remarks to come here I could not help but think about my first interaction in this very hotel in Islamabad six years ago. It was the 15th AGM of PSDE where in November 1999, I had been in the office for a few weeks, I took this opportunity to present a road map to this very audience. We have come a long way since November 1999. As I reflected last night, six years ago it was a very daunting, exciting and a very stimulating thought process. Six years ago the country was faced with many challenges. Today, we are also faced with challenges but different challenges. Six years ago we were in crisis management rather then economic management. Today we are in a different plane and heading towards a different destination. In my remarks six years ago I talked about the need for good governance, the need for structural reforms and the need for raising the quality of people we have engaged, i.e., increasing the human capital of the country and improving it. I do not want to spend too much time on where we were six years ago except to say that the country was in a debt trap, and we were living from crisis to crisis. We were in a balance of payment situation where the situation was precarious, our credit rating was off the charts, creditors were chasing us to be paid. I remember entering the MoF office every morning and suppliers, mostly foreigners, chasing us as to when we will be paid. So we were in technical default and so on and so forth. The fund programme was going from tranche to tranche. Why did a sovereign state of 150 million people end up the way it did six years ago and we still have a lot of work to do. We also had issues like IPP’s impacting the investment climate in the country. We had a lot of litigation going as a result the deficits were huge and growing. Overall situation look challenging. At that time I had talked about the need for reforms.
24
GAVUROVA, Beata, Matus KUBAK, and Martin MIKESKA. "The efficiency of public procurement in the health sector – the platform on sustainable public finances." ADMINISTRATIE SI MANAGEMENT PUBLIC 1, no. 35 (November 27, 2020): 21–39. http://dx.doi.org/10.24818/amp/2020.35-02.
Full textAbstract:
At present, public procurement processes and their efficiency represent one of the key determinants of public finance system. Many countries of the European Union work intensively on reforming public procurement processes. The main aim of public procurement is to create an open competition in order to achieve the most efficient use of public funds. The Slovak hospitals, that have been inefficiently managed in the long run, are the weakest segment of the healthcare system. Also, the public hospitals continue to generate substantial losses even if many reforms had been implemented to increase cost efficiency. However, medical debt consolidation did not help the hospitals to set optimal functioning of the economic processes in order to improve their management permanently. The primary aim of the study is to examine an impact of selected determinants on an efficiency of public procurement processes in the healthcare system of the Slovak Republic during the 2014 – 2017. The data were obtained from the registers of the Public Procurement Office of the Slovak Republic. The multinomial logistic regression was used to determine the following findings: in case of zero, or positive savings, the number of offers, year of public procurement, type of public procurement procedure, NUTS level of procurement and participation of a subcontractor in procurement process are significant categorical variables. The study results enable a creation of multi-dimensional analyses and support models in order to make effective public procurement processes in the healthcare system. Similarly, these results enable to create comparative benchmarking analyses, and may lead to a creation of new agencies and institutions.
25
Cardow, Andrew, and William Robert Wilson. "The establishment of savings banks in colonial New Zealand 1840-1907." Journal of Management History 22, no. 4 (September 12, 2016): 371–88. http://dx.doi.org/10.1108/jmh-06-2016-0034.
Full textAbstract:
Purpose This paper aims to highlight the reasons for the establishment of savings banks in New Zealand, with a primary thesis being that savings banks in New Zealand were intended to operate in a similar way to those in the UK. That is, to provide banking services to the working classes and supply revenue to a cash-strapped government. Savings banks were reasonably successful in meeting the needs of their depositors but provided little revenue to the government. This gives rise to a secondary thesis that, when the Government was presented with the opportunity to establish the Post Office Savings Bank (POSB), they did so with revenue in mind. Design/methodology/approach Contemporaneous scholarly discussion along with newspaper, primary sourced bank and government archives builds an interpretation of why savings banks were established in New Zealand. This interpretation is presented in the form of a narrative, which tells the story of the rise of private savings banks in New Zealand and their eventual stagnation when the POSB was introduced. Findings Savings banks in New Zealand were initiated by Governor Grey primarily to provide an alternative source of development funding. New Zealand savings banks, initially modelled on UK and New South Wales variants, also appear to have been designed to meet the needs of the working classes, with deposits limited to £50 a year and a maximum balance set of £100 in total. However, as the requirement to invest in Government debt was removed from their founding legislation, they mainly provided mortgages to their local communities. To some extent, this situation was remedied in 1867 when the POSB was established, as it was required to invest as directed by the Government. Originality/value The narrative highlights the importance of savings banks and the POSB to both the people and government of New Zealand. This research adds to the discussion surrounding the purpose of savings banks and details the contributions made by both savings banks and the POSB in colonial New Zealand. As previous publications were in the main commissioned by various savings banks, this work provides an independent academic analysis of the first savings banks in colonial New Zealand in the period from the signing of the Treaty of Waitangi in 1840 until New Zealand became a dominion in 1907.
26
Sharma, Aasha Jayant. "When debt comes knocking." Emerald Emerging Markets Case Studies 6, no. 4 (November 15, 2016): 1–15. http://dx.doi.org/10.1108/eemcs-04-2016-0053.
Full textAbstract:
Subject area General management/Strategy: Problems with debt recovery industry in India Strategic positioning and core competencies: expansion plans. Study level/applicability The case can be used on an MBA program for a course in strategic management. It can be used to understand the concept of strategic positioning. It will give the students an opportunity to critically evaluate a firm’s strategic positioning in the competitive environment, enable them to understand how to create and capture superior value by differentiating as compared with other players in an industry and address expansion and growth strategies. Case overview The case represents the success story of “Adhikrut Jabti evam vasuli”, a debt recovery agency that dared to use the unconventional strategy of employing women as recovery agents, against the stereotyped muscle-flexing male agents. Continuous focus on improving the processes and systems backed by an authoritative yet tactful approach of persuasion and patience has brought this recovery agency accolades and growth. But now Parag Shah the Managing Director is planning to expand its horizons and wonders whether he should go ahead opening up more branch offices across the country or whether he should convert his recovery firm into an Asset reconstruction company. Expected learning outcomes The case reinforces the importance of “Strategic positioning” of a firm due to well-planned differentiation in services. The case also addresses concepts of leadership, standardization, people skills and relationship management. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 11: Strategy.
27
Mishra, Suchismita, Bakhtear Talukdar, and Arun Upadhyay. "CFO appointment and debt-equity choice." Managerial Finance 46, no. 2 (May 17, 2019): 179–96. http://dx.doi.org/10.1108/mf-10-2018-0484.
Full textAbstract:
Purpose There is some evidence that firms appoint internal candidates to exploit their unique firm specific knowledge and that the type of appointments may have signaling value to the market. However, these studies are limited to chief executive officer appointments whereas other top executives could also play an important role in corporate decision making. The purpose of this paper is to focus on the chief financial officer (CFO) appointments and firm’s debt-equity choice. Design/methodology/approach The authors employ a multiple regression framework. To control for potential endogeneity, the authors use an instrumental variable approach with both two-stage least squares and generalized method of moments estimators. Findings The authors find that firms with internal CFO hires issue more equity than firms that hire from the external labor market. The authors also find that internal CFOs significantly reduce information asymmetry (IA), which may lower market risk and the cost of financing through equity issues. Furthermore, consistent with the value maximizing role of reduced IA the authors find that this effect is concentrated in value firms. In firms with higher IA this preference for equity by the internal CFO may be weaker as even internal CFOs will prefer debt financing for its disciplining role and to reduce IA. A subsample analysis with growth firms shows this diminishing impact on the financing choice of an internal CFO. Originality/value This study provides important information about the influence the CFO has on a firm’s capital structure decisions.
28
Burgstaller, Johann, and Eva Wagner. "How do family ownership and founder management affect capital structure decisions and adjustment of SMEs?" Journal of Risk Finance 16, no. 1 (January 19, 2015): 73–101. http://dx.doi.org/10.1108/jrf-06-2014-0091.
Full textAbstract:
Purpose – The purpose of this paper s to study the financing behavior of family firms (FF), as these differ from their small- and medium-sized enterprise (SME) counterparts in their capital structure decision, mainly due to an increased risk aversion and the desire to maintain control over the firm. Design/methodology/approach – A sample of 470 SMEs from a bank-based environment is examined for the period of 2005-2010. A dynamic panel data model is utilized to assess both the role of several capital structure determinants and the target-adjusting behavior for different subsamples of firms. Findings – The results show that FF, whether controlled by founders or not, are relatively more leveraged. The aim to maintain long-term control and limited financing options and other factors seem crucial to the observed differences in leverage and dominate risk considerations associated with higher debt. Presumed differences in agency costs across generations do not drive capital structure decisions, as overall leverage does not differ between founder- and descendant-controlled family firms (FCFF and DCFF, respectively). Firms with a founder-chief executive officer (CEO), however, adjust faster to deviations from a target debt ratio. The effects of many proposed capital structure determinants differ across firm types, but are highly consistent with predictions from the pecking order theory. Practical implications – Based on the results of this study, we suggest policy-makers in bank-based economies like Austria to strongly focus on mechanisms that facilitate the access to bank debt to ensure adequate allocation of finances to SMEs. This is especially important to stimulate growth and further innovation for the dominant group of FF, as they rely on debt the most to maintain family control. Originality/value – This paper makes a novel contribution to the literature, as it combines an analysis of the capital structure of non-listed family firms (NFF) in a bank-based economy, the respective role of founder management, the dynamic adjustment to a presumed debt target and joint tests of capital structure theories.
29
de Andrade, Lélis Pedro, Aureliano Angel Bressan, Robert Aldo Iquiapaza, and Wesley Mendes-Da-Silva. "Reasons for and implications of the presence of institutional investors in the ownership structure of Brazilian companies." Corporate Ownership and Control 13, no. 4 (2016): 598–608. http://dx.doi.org/10.22495/cocv13i4c4p9.
Full textAbstract:
Using 3,057 observations from 2000 to 2012, we found the risk of expropriation of minority shareholders by controlling shareholders is positively associated with participation of institutional investors in equity funding. There is no evidence that these investors increase the likelihood of substituting the chief executive officer or increase the company’s value or its financial performance. However, the presence of institutional investors is associated with higher company debt. This study suggests that institutional investors assume a function not fully explained by agency theory, such as enabling greater access to debt markets, but accentuate the agency conflict between controlling and minority shareholders. The main results show that the presence of institutional investors mitigates agency conflicts between shareholders and creditors, but increases the risk of expropriation of minority shareholders.
30
Yu-Thompson, Yin, Seong Yeon Cho, and Liang Fu. "The role of CEO inside debt holdings in corporate pension funding status." Review of Accounting and Finance 14, no. 3 (August 10, 2015): 210–38. http://dx.doi.org/10.1108/raf-11-2013-0127.
Full textAbstract:
Purpose – The purpose of this study is to examine how pension risk shifting can be explained and constrained by debt component in chief executive officer (CEO) compensation and to explore whether a CEO’s relatively large holdings of inside debt to equity compensation would result in a well-funded pension status. Design/methodology/approach – The authors use two-stage least-squares model to control the potential unobserved and uncontrolled firm characteristics that could drive both CEO inside debt determinants and firm pension funding status. Findings – This paper finds a positive relationship between the CEO inside debt ratio and firm funding status. Additional tests show a positive association between the CEO inside debt ratio and financial slack measures and a negative association between this ratio and financial constraint measure. Additional evidence also shows that the CEO inside debt ratio is negatively associated with other contemporaneous investment activities. Overall, the findings suggest that CEO inside debt creates managerial incentives that can affect pension funding decisions and decrease pension risk shifting. Research limitations/implications – One of the difficulties facing the compensation literature is the unobservable nature of the entire compensation negotiation and design process. Pension funding status is another challenging topic given that management has discretion over the pension assumptions and the calculations themselves are complicated. Therefore, the determinants of pension status used in this paper are not all-inclusive. Although a two-stage least-squares methodology is applied to mitigate endogeneity, it is still possible that an omitted variable problem exists in both cases. Originality/value – This study provides direct evidence of the executive debt-like compensation’s effect on pension risk-shifting behavior and pension funding decisions and also contributes to the literature that investigates the association between CEO inside debt and firm risk by examining the trade-off between pension funding and other contemporaneous investment activities.
31
Mathur, Sachin. "Kwality Ltd.: the banker’s dilemma." Emerald Emerging Markets Case Studies 10, no. 1 (January 31, 2020): 1–19. http://dx.doi.org/10.1108/eemcs-05-2019-0096.
Full textAbstract:
Learning outcomes The case provides an opportunity to the students to learn some of the analytical processes in making a credit decision, including interpretation of financial ratios for credit analysis, forecasting a stress scenario, analysing cash flow adequacy, assessment of financial flexibility and, finally, recommend a credit decision. Case overview/synopsis The case discusses the analytical challenges facing a bank credit officer while assessing the credit quality of Kwality Ltd., an India-based dairy product manufacturer. Kwality Ltd. had undertaken a significant capacity expansion and business transformation to strengthen its market position in value-added dairy products business and improve its profit margins. The capacity expansion had recently been completed and the management, credit rating agency, equity analysts and investors appear to be optimistic regarding the company’s prospects. However, the capital investment had been almost entirely debt-funded and large long-term debt repayments would have become due shortly. The company had also built up large trade receivables. The banker had to assess if Kwality would be in a position to repay its debt and should his bank increase working capital disbursement to the company. Complexity academic level Complexity: Academic level. Applicability: MBA, Executive MBA. Supplementary materials Teaching Notes are available for educators only. Subject code CSS1: Accounting and Finance.
32
Rajak, Harry H. "Director and Officer Liability in the Zone of Insolvency; A Comparative Analysis." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 11, no. 1 (June 26, 2017): 30. http://dx.doi.org/10.17159/1727-3781/2008/v11i1a2751.
Full textAbstract:
It is the duty of the directors of a company to run the business of the company in the best interests of the company and its shareholders. In principle, the company, alone, is responsible for the debts incurred in the running of the company and the creditors are, in principle, precluded from looking to the directors or shareholders for payment of any shortfall arising as a result of the company's insolvency. This principle has, in a number of jurisdictions undergone statutory change such that in certain circumstances, the directors and others who were concerned with the management of the company may be made liable to contribute, personally, to meet the payment – in part or entirely – of the company's debts. This paper aims to explore this statutory jurisdiction. It also seeks to describe succinctly the process by which the shift from unlimited to limited liability trading was achieved. It will end by examining briefly a comparatively new phenomenon, namely that of a shift in the focus of the directors' duties from company and shareholders to the creditors as the company becomes insolvent and nears the stage of a formal declaration of its insolvent status – the so-called 'zone of insolvency'.
33
Ardani, Ardani, and Djaka Permana. "Evaluation of Community Participation and Fire and Rescue Sub-dept. In Fire Prevention Tanjung Priuk District." Ilomata International Journal of Social Science 1, no. 1 (October 30, 2019): 20–28. http://dx.doi.org/10.52728/ijss.v1i1.35.
Full textAbstract:
This study aims to determine the level of community participation in fire prevention and management in Tanjung Priuk Subdistrict, the City of Administration against Fire Disasters in North Jakarta, the theory used in this research is the opinion of M. Nuh Minister of Education in the era of President Bambang Yudhoyono in Climbing the Amstein ladder to organize an ideal participation. The research method used is a qualitative method to obtain key data from interviews with legitimate sources that are directly involved in fire prevention and management and are supported by data from field observations. The data is then analyzed by the triangulation process. To find out the level of community participation. The results showed that the level of participation in fire prevention in Tanjung Priuk District had a range of information, consultations and appointments. the training program, which is carried out as an annual program, is provided for the community to provide information one way. In the management process, the community is at the second level of the seventh stage because the community is already a partner in the fire department before the fire department arrives at the fire location, the community has tried to extinguish the fire independently. To increase community participation in fire prevention and management, the Fire Department of the North Jakarta City Administration Office must optimize human resources, as well as other fire management resources, to be able to act also to provide costs for Balakar (Voluntary Fire) every month.
34
Lesiakowski, Krzysztof. "Professional Negligence, Mismanagement and Malpractice. Polish Companies in the Light of Supreme Audit Office Materials in the Years 1976-1980." Studia Historiae Oeconomicae 34, no. 1 (December 1, 2016): 149–66. http://dx.doi.org/10.1515/sho-2016-0009.
Full textAbstract:
Abstract The birth of the “Solidarity” Independent Self-governing Trade Union in 1980 was accompanied by a strong revisionist movement. The Polish society expected punishment for the previous administration, led by Edward Gierek, as it was their policy up to that point that resulted with enormous external debt and ubiquitous shortages of consumer goods. A lot was said about wastefulness, corruption and professional negligence, both in the state administration and in the managements of Polish companies. And these opinions were somehow justified, as evidenced by the results of audits performed by the Supreme Audit Office (Najwyższa Izba Kontroli, NIK) in the years 1976–1980. Information recorded in the audit documentation was in line with the social attitudes. Due to formal and legal conditions back then, NIK auditors could not inspect the most important companies, however they managed to prove that the scale of illegal actions committed by directors and managers was large and increased year by year.
35
Johan, Suwinto, and Calista Endrina Dewi. "Credit Limit of Unsecured Consumer Lending: Evidence from Micro Data." Economics and Finance in Indonesia 67, no. 1 (April 29, 2021): 51. http://dx.doi.org/10.47291/efi.v67i1.697.
Full textAbstract:
As credit card debts have increased in Indonesia over the past ten years, concerns over the impulsive buying behavior of Indonesian credit card holders have emerged. Therefore, more attention must be paid to credit risk management of banks as it plays an important role in analyzing the possibility of losses due to the inability of prospective borrowers to repay debts. This study provides empirical evidence about the prudence of commercial banks in Greater Jakarta in offering credit card limits. Using primary micro-data collected from credit card applications submitted to the largest foreign private bank providing retail credit in the Greater Jakarta area in 2019, this study employed multiple regression model to analyze the determinants of credit card limits in the Greater Jakarta. Our empirical findings suggest that age, home location, income, type of industry, and office location of prospective borrowers significantly influence credit card limits. Commercial banks in the Greater Jakarta, thus, have been prudent in offering credit card limits.
36
Domenichelli, Oscar. "Main determinants of capital structure and financial sustainability among Italian listed non-financial firms: an empirical survey." RIVISTA DI STUDI SULLA SOSTENIBILITA', no. 1 (April 2011): 133–50. http://dx.doi.org/10.3280/riss2011-001013.
Full textAbstract:
This study empirically examines the main determinants of capital structure for listed non-financial firms in Italy and their contribution to financial sustainability, in terms of value creation for shareholders. The results show that both the pecking order theory and the trade-off theory are central in explaining the leverage of these firms and both financial approaches are important in enhancing company value and shareholders' wealth. Increasing managerial shareholding may have a role in reducing the self-interested behaviours of managers and thus leading to a higher leverage and superior financial sustainability, at least at low levels of holdings, but the results are weak. Institutional shareholding entails a positive impact on leverage owing to the function of control that institutions exert on the overall managerial activity and boards of directors. Moreover, institutions themselves are disposed to finance firms by debt, when they have a control over their boards of directors. The negative relationship between public institution shareholding and leverage implies a strict managerial control and a rigorous debt policy by public institutions. Board size and board composition are negatively related to leverage, whereas chief executive officer duality has a positive impact on leverage, but none of these latter three relationships is statistically significant.
37
Aloui, Mouna, and Anis Jarboui. "The effects of corporate governance on the stock return volatility." International Journal of Law and Management 60, no. 2 (March 12, 2018): 478–95. http://dx.doi.org/10.1108/ijlma-01-2017-0010.
Full textAbstract:
Purpose The purpose of this study is to investigate the relationship between the stock return volatility, the outside and the independent directors. Design/methodology/approach The volatility, as the dependent variable in the model, is measured by the standard deviation of annual stock returns. Concerning the independent variable is as follows: The chief executive officer (CEO) is a dummy variable denoting whether or not the chairman of the board holds the position of CEO. The INDD, which represents the independent directors, is measured according to whether the firm appoints independent directors, or by the ratio of independent directors. The FD, which represents the outside directors, is measured according to whether the firm appoints outside directors, or by the ratio of outside directors. In addition, the authors also add the following five control variables to the regression model: the certified public accountant refers to the auditor-related variables including the audit opinion and whether the firm has previously switched accounting firms. The performance (PER) represents the firm performance in terms of the relative return on assets (ROA). The turnover (TURN) is measured by the natural log of the total liabilities. The SIZE is measured by the natural log of the market value of equity, and the leverage ratio (LEV) is the firm’s debt ratio measured by the ratio of total. The TURN is measured by the natural log of the total liabilities. The SIZE is measured by the natural log of the market value of equity and the LEV is the firm’s debt ratio measured by the ratio of total debt to total assets. The sample comprises 89 firms listed on the SBF 120 index over 2006-2012. Findings Results reveal that the outside directors have a positive and significant effect on the stock return volatility. Moreover, the firm’s size and ROA have a negative effect on the stock return volatility, which is clearly evidenced in all the regressions. On the other hand, the CEO, audit size and debt ratio have statically significant and positive effects on the stock return volatility. Originality/value This study indicates the importance of corporate governance and helps investors and financial economists understand the behavior of the stock prices during a financial crisis. Although the existing studies refer to the influence of corporate governance on the stock prices during a crisis, none of these has ever discussed whether better corporate governance can help reduce the stock price volatility in such a situation.
38
Tarvid, Alexander. "Real Sound Lab: issuing a €300,000 bond." Emerald Emerging Markets Case Studies 5, no. 6 (October 14, 2015): 1–13. http://dx.doi.org/10.1108/eemcs-05-2014-0147.
Full textAbstract:
Subject area Financial Management. Study level/applicability Masters, Bachelors. Case overview In 2011, Real Sound Lab (RSL), an innovative audio technology company headquartered in Latvia, issued a bond to finance its needs. The face value of the issue was much smaller than what was typically encountered in the local market. The case describes how Viesturs Sosars, Chief Executive Officer of RSL, made this financing decision and how the difficulties at maturity were overcome. Expected learning outcomes Learn about financing options available for an small- or medium-sized enterprise in the case of inability to issue additional equity combined with an already high debt ratio. Learn about important considerations that should be made when deciding on the details of the bond issue and how these might impact the possible actions of the issuing company in case of being unable to repay the principal at maturity. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
39
Simasiku, Tashar. "The Impact of Funding on Quality of Early Childhood Education Service Provision in Zambia from 2015-2018." TEXILA INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH 8, no. 1 (February 26, 2021): 14–24. http://dx.doi.org/10.21522/tijar.2014.08.01.art002.
Full textAbstract:
High-quality Early Childhood and Education (ECE) is critical to positive child development and generates high economic returns. On the contrary, Access to quality ECE in Zambia remains low particularly for the vulnerable. The situations are compounded by inadequate funding to the ECE subsector. This study evaluated the effect of funding on the quality of ECE in Zambia for the period 2015 to 2018. It assessed the effect of funding on the provision of ECE services by analysing the funding patterns to the Ministry of General Education through to Directorate of Early Childhood Education (DECE), Provincial Education Office (PEO), District Education Board Office (DEBO) and finally the 10 identified schools /ECE centres. To assess effect on quality, the study analysed the effect of funding on the eight identified early learning quality elements as espoused by the Ministry of General Education. These are, Infrastructure, Water and sanitation, Playgrounds, Furniture, Equipment and materials, Staffing, Support Staff and Enrolment. The methodology employed in this study included desk review of the funding reports at the identified fund management levels as well as Key Informant Interviews (KII) at each identified level. The results from the desk review and KII indicated that, funding to ECE for the period 2015 to 2018 was inadequate. At school level, much of the funding went toward equipment and materials while Water and Sanitation Infrastructure, Playgrounds, Furniture Equipment and materials were inadequately funded. This negatively affected the quality of ECE services provided in Zambia between 2015 to 2018.
40
Jafar, M. Ulfatul Akbar, M. Taufik Rachman, and Dedy Iswanto. "PERSEPSI PEGAWAI TERHADAP KEHADIRAN CALO LAYANAN ADMINISTRASI PADA DINAS KEPENDUDUKAN DAN CATATAN SIPIL KABUPATEN BIMA." Journal of Government and Politics (JGOP) 2, no. 2 (December 22, 2020): 166. http://dx.doi.org/10.31764/jgop.v2i2.3147.
Full textAbstract:
Public interest in the community is the main target in public service providers. Officials of the Office of Population and Civil Registry as a bureaucrat at the regional level are required to be able to handle the constraints faced in the government's promoted development efforts. Officials of the Office of Population and Civil Registration must be able to carry out its first function is to provide services to the community well, deft, effective and efficient. Another problem that often arises is the discipline of employees in providing services this proved many employees who come not on time, start the service not on time, rest not in time, and employees also home before the time to go home. This also greatly affects the service because if the shortage of employees then the counter service that will be opened also a little, so that the impact of many people who are not served. The purpose of this research are; 1) To know Employee Perception Against Attendance of Administration Service Bureau at Department of Population and Civil Regent of Bima Regency; 2) To know the Factors that may affect the Presence of Calo Administration Services At the Department of Population and Civil Registration Bima District.This research uses qualitative approach method with technique of determination of informant use Purposive sampling, meaning intentionally intake technique. Methods of data collection ie observation, interview (Interview) and documentation. Data type is qualitative data and sourced from secondary and primary data with data analysis technique Data Reduction, Data Presentation (Data Display), and Conclusion drawing / verification.The result of research shows that: The distance of the Office of Population and Civil Registry of Bima Regency is far and there is no public transportation passing through it. So that has a private vehicle that many do service in the Department of Population and Civil Registry Bima District, for people living in remote areas usually take care of services, especially the service of birth certificate by handing someone close to his relationship with bureaucracy or brokers even if they have to pay more. The presence of brokers is difficult to separate from public services. But now their existence began to decrease, because the government increasingly simplify the process of document management and licensing.)
41
Awan, Tahira, Syed Zulfiqar Ali Shah, Muhammad Yar Khan, and Anam Javeed. "Impact of corporate governance, financial and regulatory factors on firms’ acquisition ability." Corporate Governance: The International Journal of Business in Society 20, no. 3 (March 20, 2020): 461–84. http://dx.doi.org/10.1108/cg-07-2019-0214.
Full textAbstract:
Purpose The capital markets witness phenomenal shifts of corporate control. With the shift of world economy into a global one, there has been a rapid increase in the volume of acquisitions. The previous studies shed light on the motives behind acquisition and impact of acquisition on both bidding and target firms. The purpose of this study is to bridge a gap in literature by exploring the factors affecting the acquisition ability (AA) of the firms. The study has analyzed the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm. Design/methodology/approach Cross-sectional data has been analyzed with respect to Pakistan stock exchange for a period of 2004-2017 by using logit regression. Findings Analysis indicates that firm-specific variables are important determinants in firm’s decision to acquire. Chief Executive Officer duality and presence of institutional shareholders on the board contribute to this important phenomenon in the life of the acquiring firms. Bidding firm’s financial strength is also another important consideration while going for corporate control transfer transactions. The empirical results indicate the better AA for firms characterized by minimum capacity usage, lower level of intangible assets, lower debt levels and lower advertising expenses. However, the regulatory factor has no significant role in firms’ AA. The findings of the study are helpful for managers, regulators and policymakers. Originality/value Analyzing the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm is a rare study, especially in an emerging country such as Pakistan.
42
Bastida, Francisco, María-Dolores Guillamón, Bernardino Benito, and Ana-María Ríos. "“Corruption premium” on municipal borrowing cost: the case of Spanish Mayors." Journal of Public Budgeting, Accounting & Financial Management 31, no. 3 (September 2, 2019): 392–409. http://dx.doi.org/10.1108/jpbafm-12-2018-0143.
Full textAbstract:
Purpose The purpose of this paper is to examine the impact of mayors’ corruption on the municipal interest rate set by lenders. Design/methodology/approach The sample consists of a panel data for all the Spanish cities with population over 50,000 for 2002–2013 (130 municipalities). In line with previous literature and the structure of the panel data, the authors use a generalized method of moments equation to the main model and three robustness checks. Findings The results, robust to different specifications, indicate that banks do not take mayors’ corruption as a significant risk component of the municipal solvency. The data show a “corruption premium” ranging from −1 to 33 basis points, which aligns with the size of the “corruption premium” found by the literature, but the significance is low. This finding is connected, on the one hand, with the rigid, thorough Spanish legal framework ruling municipal financial management, and on the other hand, with the characteristics of mayors’ corruption. Robust evidence shows that key financial indicators influence interest rates: current saving, with a strong influence, and level of indebtedness, to a lesser extent. Besides, more populated cities pay lower interest rates. Research limitations/implications The main limitation stems from the calculation of interest rate, because but sharp debt changes may decrease the accuracy. Practical implications The data prove that banks value this surplus as a sign of solvency and set lower interest rates. Considering that this financial indicator is key for setting the interest rate, as a point for practitioners, current saving should be monitored by the municipal financial officer, as a way to reduce the financial cost. Besides, legislation should consider current saving as a benchmark to set balanced budget rules or to establish conditions for municipalities to get into greater indebtedness. Originality/value This is the first research on municipal interest rate premium due to corruption in Spain.
43
Syah Putra, Norman, Agus Widarsono, and Arim Nasim. "ANALISIS PENERAPAN SISTEM PENGENDALIAN INTERNAL UNTUK MENCEGAH KREDIT MACET PEMBIAYAAN MUSYARAKAH MODAL KERJA YANG DIBERIKAN OLEH BANK." Jurnal ASET (Akuntansi Riset) 5, no. 2 (December 2, 2017): 1. http://dx.doi.org/10.17509/jaset.v5i2.9094.
Full textAbstract:
Abstract. The investigation is aimed at knowing the internal control system as one of the ways done to prevent bad debts/ bad credits of musyarakah financing, as the capital provided by the bank at BJB Syariah KCP Sukajadi. Besides, this study was also performed know the implementation of internal control system in that bank; whether or not it was done well by the department of Marketing Funding and Financing as the executor of that system itself. The method employed in this study was qualitative through phenomenology and case study. The data used in this study were the primary data taken from the results of in depth interview, participatory observation and the secondary data consist of several documents such as the audio recording of the interview between the researcher and the informant being interview and other related documents. The primary fountain of the data in this study were the head of BJB Syariah KCP Sukajadi, the operational manager, Marketing Funding and Financing department, Customer Service department, and Financing Support and Back Office Administration department. Meanwhile, the fountain of the secondary data was the related documents and the supporting literature. From the identification results of the results of the study and discussion done which referred to the five components of internal control system in COSO (Comitee of Sponsoring Organization of the Threadway Comission) namely 1) controlling environment, 2) the management of risk estimation, 3) controlling activities, 4) information and communication, and 5) supervising, it was concluded that the internal control system at BJB Syariah KCP Sukajadi was categorized week to minimize bad debts/ credits especially in musyarakah financing as the capital provided by the bank. Keywords: internal control system; bad debts/bad credits; capital musyarakah financingAbstrak. Investigasi ini bertujuan untuk mengetahui sistem pengendalian intern sebagai salah satu cara untuk mencegah kredit macet / kredit macet pembiayaan musyarakah, karena modal yang diberikan oleh bank BJB Syariah KCP Sukajadi. Selain itu, penelitian ini juga dilakukan untuk mengetahui implementasi sistem pengendalian intern di bank tersebut; apakah dikerjakan dengan baik oleh departemen Marketing Funding and Financing sebagai pelaksana sistem itu sendiri. Metode yang digunakan dalam penelitian ini adalah kualitatif melalui fenomenologi dan studi kasus. Data yang digunakan dalam penelitian ini adalah data primer yang diambil dari hasil wawancara mendalam, observasi partisipatif dan data sekunder terdiri dari beberapa dokumen seperti rekaman audio wawancara antara peneliti dan informan yang sedang wawancara dan dokumen terkait lainnya. Sumber data utama dalam penelitian ini adalah kepala BJB Syariah KCP Sukajadi, manajer operasional, departemen Pendanaan dan Pembiayaan Pemasaran, departemen Customer Service, dan Bagian Pendukung Pendukung dan Bagian Back Office. Sementara itu, air mancur data sekunder adalah dokumen terkait dan literatur pendukungnya. Dari hasil identifikasi hasil penelitian dan pembahasan yang dilakukan yang mengacu pada lima komponen sistem pengendalian intern di COSO (Comitee of Sponsoring Organization of the Threadway Comission) yaitu 1) lingkungan pengendali, 2) pengelolaan estimasi risiko, 3 ) kegiatan pengendalian, 4) informasi dan komunikasi, dan 5) pengawasan, disimpulkan bahwa sistem pengendalian intern BJB Syariah KCP Sukajadi dikategorikan berminggu-minggu untuk meminimalkan kredit macet / kredit khususnya pembiayaan musyarakah sebagai modal yang disediakan oleh bank.Kata kunci: sistem pengendalian internal; kredit macet; modal musyarakah pembiayaan
44
Abdullah, Shamsul-Nahar. "Board composition, audit committee and timeliness of corporate financial reports in Malaysia." Corporate Ownership and Control 4, no. 2 (2007): 33–45. http://dx.doi.org/10.22495/cocv4i2p3.
Full textAbstract:
This study attempts to investigate the roles of the composition of board of directors, audit committee and the separation of the roles of the board chairman and the chief executive officer on the timeliness of reporting. The issue of reporting timeliness is important in corporate governance because it is associated with corporate transparency. It is also an important indicator of the value of the information in the financial reports. Given the fact that the board is the highest internal corporate governance system, it is predicted that the characteristics of the board and its sub-committee, namely the audit committee, are associated with the timeliness of reporting. Using Bursa Malaysia (formerly known as the Kuala Lumpur Stock Exchange) Main Board companies data in respect of the financial years 1998 and 2000, the findings show that board independence and the separation of the roles of board chairman and CEO significantly are associated with timelier reporting. The results also indicate that the 1997 financial crisis had adversely affected the timeliness of reporting. These findings imply that during difficult periods, companies tend to take a longer time to prepare their audited financial reports. The positive association between timeliness of reporting and leverage found in this study suggests that the agency costs of debts could play an important role in explaining the timeliness of corporate financial reports. Finally, the negative relation between firm’s profitability and timeliness of reporting is supportive of information signaling theory.
45
Bidabad, Bijan. "Serial commitments clearance in Rastin Banking." International Journal of Law and Management 57, no. 6 (November 9, 2015): 600–609. http://dx.doi.org/10.1108/ijlma-02-2015-0007.
Full textAbstract:
Purpose – This paper aims to propose a system for settlement of obligations of those who, on the one hand, serially owe someone and, on the other hand, are creditors to other persons. Serial Commitments Clearance (SCC) system provides the necessary arrangements for this purpose. Design/methodology/approach – Theoretical discussions of serial chain of debits and credits were conducted by considering the laws and regulations of commitment clearance. Findings – By considering laws and regulations of commitment clearance and introducing theory of serial chain of debits and credits, this system proposes an algorithm for recognition of serial commitments. Research limitations/implications – This process is set in connection to the Collateral Registration System and Mortgage Securitization System in Rastin Banking, while considering the legal and operational problems. Accordingly, banks, notary offices and other authorized authorities can clear serial obligations of persons due to their requests and agreements and release their collaterals and guarantees as far as the debts of the persons are equivalent. Practical implications – This system will cause financial release and efficiency of many economic firms. In addition, banks will gain commission for rendering this service. Social implications – SCC is a model that can be used in all countries, especially those which have more uncertainties and traders need more pledges for their transactions. Originality/value – This study fulfils an identified need to solve practical legal problems in vindication of rights.
46
Jham, Vimi. "Leading change at Al Asafa in the Gulf." Emerald Emerging Markets Case Studies 7, no. 3 (July 27, 2017): 1–14. http://dx.doi.org/10.1108/eemcs-01-2016-0012.
Full textAbstract:
Subject area Leadership and change management, employee engagement, strategy Study level/applicability The case is designed to be an effective teaching and learning tool at the bachelors’ and master’s level business programmes in courses on leadership and change management, employee engagement, strategy courses or an elective on strategic consulting. Case overview In October 2011, Mr Abdulla became Chief Operating Officer of Al Asafa Brothers, a large privately driven organization with diversified businesses. The company’s story since then appears to be the typical slash-and-burn turnaround, but the view from the inside is far more interesting for anyone grappling with what it takes to lead a competitive organization and sustain its performance over the long term. Mr Abdulla is a straight-shooting, tough-minded, results-oriented business leader. But he is also a charismatic and persistent coach, determined to help people learn and thereby to provide his company with the best-prepared employees. Al Asafa was undergoing turmoil with a complete lack of leadership and facing financial and operational losses. There were huge cost centres. All employees started their own ventures and got into partnership with the owner and shared incentives with him. The organization kept on expanding and continued to be in huge debts thus facing losses. The case discusses the leader’s role in changing the organizational culture. Expected learning outcomes Giving students hands-on experience in developing a plan of action for a company in distress. Understanding analysis of the financial situation and suggest measures for improvement. Appreciating the involvement of employees in bringing change. Understanding the role of a leader in changing organizational culture. Subject code CSS: 11: Strategy Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
47
Ramaswamy, Vinita. "Director interlocks and cross-cultural impact on strategies affecting shareholder–creditor conflicts." Management Decision 57, no. 10 (November 11, 2019): 2693–713. http://dx.doi.org/10.1108/md-10-2017-0956.
Full textAbstract:
PurposeDirector interlocks, with their extended resources and shared experiences, have the potential power to go beyond the basic role of providing advice and monitoring the activities of an organization. Interlocked directors can have a cross-cultural role in manipulating corporate choices and strategies in several areas, including capital structure, based on learned behavior in their internal company. Shareholders and creditors are the two main capital providers for a company. However, their risk return horizons are very different, and policies that benefit one group may not be optimal to the other. Interlocks can act as carriers of sub-par practices that affect the behavior of several organizations. Such transactional and relational activities may increase short-term value for equity shareholders, but increase the risk for the creditors. The purpose of this paper is to examine cross-cultural effects of interlocks on corporate strategies that affect this essential agency relationship.Design/methodology/approachThis paper surveys the extant literature on board interlocks, board practices, equity valuation and credit risk to develop a link between such interlocks and creditor protection. Based on a brief survey of the central concepts of governance and the role of directors, this paper then provides various propositions on the role of interlocking directorships and their effect on the shareholder–creditor agency problem.FindingsDirector interlocks, through their linked common practices, have the potential to increase or worsen shareholder–creditor conflicts by magnifying strategic practices like short-termism, earnings management or through its effects on chief executive officer compensation. Such cross-cultural effects persist across ownership structures and cultural differences in governance.Research limitations/implicationsThe paper is not an empirical study of the conflict. This paper uses a literature review to arrive at propositions that may impact shareholder–creditor conflicts.Practical implicationsSeveral studies have shown cronyism and the dense corporate network has been a large factor in the financial crisis that affected both shareholders and creditors. As the influence of creditors grows with the current availability, and therefore increase in debt levels, this conflict can be magnified through homophily inherent in interlocks. For an organization to be successful in its role of protecting all stakeholders, especially the two major providers of equity capital, factors that cause conflicts must be taken into account while developing the tenets of governance policies and, on a regular basis, during the strategic planning process within the organization. Regulations affecting interlocks, including governance policies, must therefore take into account such influences.Social implicationsBoard interlocks act as channels of information between companies, creating a social network where processes and polices are shared and implemented as defined by the concept of homophily. Such management actions reduce both the quality of information available to creditors and their monitoring capabilities. This juxtaposition of shareholder and creditor interest can, therefore, be worsened by director interlocks.Originality/valuePrior literature has not specifically linked director interlocks and their mutual impact on the culture and strategy of linked corporations to the shareholder–creditor conflict.
48
Uribe Tirado, Alejandro, Jaider Ochoa Gutiérrez, and David Medina Alfonso. "Visibilidad de los investigadores de la Universidad de Antioquia en medios de comunicación internacionales, nacionales y regionales-locales." Revista Interamericana de Bibliotecología 42, no. 2 (April 30, 2019): 107–26. http://dx.doi.org/10.17533/udea.rib.v42n2a01.
Full textAbstract:
Este artículo presenta los resultados del análisis de la visibilidad de los investigadores de la Universidad de Antioquia (Colombia) en los medios de comunicación (prensa, radio, televisión e internet) a nivel regional, nacional e internacional. Ampliando el Manual de Valencia, y acorde con otros documentos, también de la Red de Indicadores de Ciencia y Tecnología, como el Manual de Antigua y demás, se propone y analiza la vinculación de la Universidad con su entorno académico y no académico. Específicamente, se realizó una indagación utilizando como fuente Google News, para detectar y caracterizar la publicación de noticias de investigación relacionadas con la institución, considerando 1032 de sus investigadores de las facultades de Artes, Ciencias Agrarias, Ciencias Exactas y Naturales, Ciencias Sociales y Humanas, Ingeniería y Medicina. Como conclusión, se evidencia que hay investigadores que por sus temas de trabajo o reconocimiento son de interés público con distintos alcances y, por tanto, han tenido mayor visibilidad. Sin embargo, la gran mayoría no la ha tenido. Este panorama conlleva dos acciones en pro de la visibilidad, vinculación e impactos que debe realizar la Universidad con su entorno: a) generar estrategias institucionales para lograr una mayor presencia desde la labor de las oficinas de comunicaciones o personal a cargo de esta función en grupos de investigación, facultades o la universidad en general, y b) mayor formación a los investigadores y grupos, para reconocer que parte de su labor científica implica también la divulgación y apropiación social del conocimiento, y, en ello, la relación con los medios de comunicación o la propia gestión de la identidad digital en plataformas de internet.Palabras clave: visibilidad, impacto social, universidad, Manual de Valencia, Google News, medios de comunicación, internet. Visibility of the University of Antioquia Researchers in International, National and Regional-Local MediaAbstractThis article presents the results of the analysis of the visibility of the researchers of the University of Antioquia in the media (press, radio, television and internet) to international, national, regional-local. Expanding the Manual de Valencia and accordance with other documents, also from the Red de Indicadores de Ciencia y Tecnología (Manual de Antigua and others), it is proposed and analyzed the linkage (visibility and impacts) of the University of Antioquia with its academic and non-academic environment. Specifically, an inquiry was conducted using the Google News as a source, to detect and characterize the publication of research news related to the institution, considering 1032 of its researchers from the faculties of Arts, Agricultural Sciences, Exact and Natural Sciences, Social Sciences and Humanities, Engineering and Medicine. In conclusion, it is evident that there are researchers who, due to their public interest and/or recognition issues with distinct scopes, have had greater visibility. However, the vast majority has not had it. This panorama leads to two actions in favor of the visibility and impacts that the University should make with its surroundings: a) generate institutional strategies to achieve a greater presence from the work of the communications offices or staff of this function in groups of research, faculties or the university in general, and b) better training for researchers and groups, to recognize that part of their scientific work also involves the dissemination or social appropriation of knowledge, and in this, the relationship with the media or the management of digital identity on internet platforms.Keywords: Visibility, social impact, university, Manual de Valencia, Google News, media, internet.
49
JPT staff, _. "E&P Notes (January 2021)." Journal of Petroleum Technology 73, no. 01 (January 1, 2021): 18–19. http://dx.doi.org/10.2118/0121-0018-jpt.
Full textAbstract:
GOM Lease Sale Generates $121 Million in High Bids; Shell Offshore Takes Top Spot Regionwide US Gulf of Mexico (GOM) Lease Sale 256 generated $120,868,274 in high bids for 93 tracts in federal waters. The sale on 18 November featured 14,862 unleased blocks covering 121,875 square miles. With $27,877,809 spanning 21 high bids, Shell Offshore Inc. took the top spot among 23 competing companies. A total of $135,558,336 was offered in 105 bids. Among the majors, Shell, Equinor, BP, and Chevron submitted some of the highest bids. Each company claimed high bids of over $17 million, signaling the GOM remains a priority in their portfolios. Last year was a record year for American offshore oil production at 596.9 million bbl, or 15% of domestic oil production, and $5.7 billion in direct revenues to the government. Offshore oil and gas supported 275,000 total domestic jobs and $60 billion total economic contributions in the US. “The sustained presence of large deposits of hydrocarbons in these waters will continue to draw the interest of industry for decades to come,” Deputy Secretary of the Interior Kate MacGregor said. Still, as Mfon Usoro, senior research analyst at Wood Mackenzie, noted, “Although bidding activity increased by 30% from the March 2020 sale, the high bid amount of $121 million still trends below the average high bid amount seen in previous regionwide lease sales, proving that companies are still being conservative with exploration spend.” Although the Bureau of Ocean Energy Management has proposed another regionwide GOM lease sale in March 2021, Usoro predicted that Lease Sale 256 “could potentially be one of the last lease sales.” “With the Biden administration set to inaugurate next year and possibly ban future lease sales, a massive land grab might have ensued,” he continued. “But companies are constrained by tight budgets due to the prevailing low oil price. Additionally, companies in the region have existing drilling inventory to sustain them in the near term. The best blocks with the highest potential reserves are likely already leased. As a result, we do not expect a potential ban on leasing to materially impact production in the region until the end of the decade.” This was the seventh offshore sale held under the 2017–2022 National Outer Continental Shelf Oil and Gas Leasing Program; two sales a year for 10 total regionwide lease sales are scheduled for the gulf. Nine Areas on Norwegian Continental Shelf Open for Bids The 25th licensing round on the Norwegian Continental Shelf, comprising eight areas in the Barents Sea and one in the Norwegian Sea, has been announced by the Norwegian Ministry of Petroleum and Energy. Known for being a country with some of the greenest credentials and policies in the world, Norway surprised observers in June by announcing plans for a licensing round that signaled further oil exploration in the Norwegian sector of the Arctic Sea. In this round, 136 blocks/parts of blocks will be available: 11 in the Norwegian Sea and 125 in the Barents Sea. The application deadline for companies is 23 February 2021. New production licenses will be awarded in Q2 2021. Johan Sverdrup Capacity Increased to Half Million B/D Following positive results in a November capacity test, the Johan Sverdrup field is set to increase daily production capacity. Capacity will rise from today’s 470,000 to around 500,000 B/D in the second increase since the field came on stream just over a year ago. The move will increase the field’s total production capacity by around 60,000 bbl more than the original basis when the field came on line. Overall, the field is estimated to have resources of 2.7 billion BOE. “The field has low operating costs, providing revenue for the companies and Norwegian society, even in periods with low prices,” said Jez Averty, Equinor’s senior vice president for operations south in development and production, Norway. The Johan Sverdrup field uses water injection to secure high recovery of reserves and maintain production at a high level. An increase in the water-injection capacity should further increase production capacity by mid-2021, according to Rune Nedregaard, vice president for Johan Sverdrup operations. Phase 2 production starting in Q4 2022 will raise the Johan Sverdrup full-field plateau production capacity from 690,000 to around 720,000 B/D. Equinor operates the field with 42.6% stake; other partners include Lundin Norway (20%), Petoro (17.36%), Aker BP (11.57%), and Total (8.44%). ConocoPhillips Makes Significant Gas Discovery Offshore Norway ConocoPhillips announced a new natural-gas condensate discovery in production license 1009, located 22 miles northwest of the Heidrun oil and gas field and 150 miles offshore Norway in the Norwegian Sea. The wildcat well 6507/4-1 (Warka) was drilled in 1,312 ft of water to a total depth of 16,355 ft. Preliminary estimates place the size of the discovery between 50 and 190 million BOE. Further appraisals will determine potential flow rates, the reservoir’s ultimate resource recovery, and plans for development. “The Warka discovery and potential future opportunities represent very low cost-of-supply resource additions that can extend our multi-decade success on the Norwegian Continental Shelf,” said Matt Fox, executive vice president and chief operating officer. The drilling operation, which was permitted to ConocoPhillips in August 2020, was performed by the Transocean-managed Leiv Eiriksson semisubmersible rig. ConocoPhillips Skandinavia AS is the main operator of the license with a 65% working interest; PGNiG Upstream Norway AS holds the remaining stake. Lundin Energy Completes Barents Sea Exploration Well, Comes Up Dry Lundin Energy has completed exploration well 7221/4-1, targeting the Polmak prospect in licenses PL609 and PL1027, in the southern Barents Sea. The well was meant to prove hydrocarbons in Triassic-aged sandstones within the Kobbe formation of the Polmak prospect. After finding indications of hydrocarbons in a 9-m interval in poor-quality reservoir in the targeted formation, the well was classified as dry. The well was drilled 30 km east of the Johan Castberg discovery, by the Seadrill-operated West Bollsta semisubmersible rig. Lundin Energy, operator of Polmak, holds a 47.51% working interest. Partners are Wintershall DEA Norge AS (25%), Inpex Norge AS (10%), DNO Norge AS (10%), and Idemitsu Petroleum Norge AS (7.5%). Polmak is the first of Lundin’s three high-impact exploration prospects drilled this quarter in the Barents Sea; the wells target gross unrisked prospective resources of over 800 million bbl of oil. The West Bollsta rig will now proceed to drill the Lundin Energy-operated Bask prospect in PL533B. Well 7219/11-1 will target Paleocene-aged sandstones, estimated to hold gross unrisked prospective resources of 250 million bbl of oil. Tullow Sells Remaining Stake in Ugandan Oil Field Tullow Oil has completed the 10 November sale of its assets in Uganda to French giant Total for $500 million. Tullow will also receive $75 million when a final investment decision is taken on the development project, calculated to hold 1.7 billion bbl of crude oil. Contingent payments are payable after production begins if Brent crude prices rise above $62/bbl. The completion of this transaction marks Tullow’s exit from its licenses in Uganda after 16 years of operations in the Lake Albert basin. The deal is designed to strengthen Tullow’s balance sheet, as tumbling crude prices combined with exploration setbacks have created problems for the company. In September, the company reported that it had lost $1.3 billion in the first 6 months of 2020 as falling oil prices forced it to write down the value of its assets. The deal cut Tullow’s net debt to $2.4 billion; it has $1 billion in cash.
50
K, Kanagasabapathy, and Charan Singh. "Independent Debt Management Office: Rationale, Scope and Structure." SSRN Electronic Journal, 2013. http://dx.doi.org/10.2139/ssrn.2359302.
Full text