scholarly journals Mezzanine as an alternative form of corporate financing

2015 ◽  
Vol 6 (1) ◽  
pp. 99
Author(s):  
Agnieszka Czajkowska
Keyword(s):  
Comparative Analysis ◽  
Mergers And Acquisitions ◽  
Alternative Form ◽  
Transactions Costs ◽  
Alternative Source ◽  
Corporate Financing ◽  
Investment Projects ◽  
Advantages And Disadvantages ◽  
Alternative Funding ◽  
The Usa

The main goal of the article is the assessment of mezzanine financing as an innovative form in Poland, which might play a significant role in the dynamically developing companies which can’t obtain sufficient capital from traditional sources in the form of bank credits. Mezzanine may be applied to: financing investment projects, increasing the value of the company, the expansion of businesses through mergers and acquisitions, redemption of shares or the financing of leveraged buyouts. The main methodology used in this article is explanatory research and comparative analysis. The hypothesis assumes that mezzanine financing may become an important alternative source of funding for medium and large sized enterprises in Poland. This article presents the idea of mezzanine financing, its mechanism, structures and comparison to alternative funding, examples of such transactions costs. An important part is indication of types of mezzanine capital and applications in the USA, the UE including Poland as well as comparative analysis of mezzanine advantages and disadvantages.

Research of methods of protecting organizations from inimical mergers and acquisitions

2020 ◽  
pp. 29-45
Author(s):  
O.A. Naydis ◽  
I.O. Naydis
Keyword(s):  
Comparative Analysis ◽  
Mergers And Acquisitions ◽  
Positive Effects ◽  
Advantages And Disadvantages ◽  
Preventive Methods

The article considers the types, forms, mechanisms and classification of mergers and acquisitions, identifies their positive effects, and studies the tactics of acquisitions. The analysis of anti-capture measures: active and preventive methods of protection against hostile mergers and acquisitions. A comparative analysis of anti-capture measures with acquisitions tactics was carried out, the advantages and disadvantages of their application were identified.

Crowdfunding As the Innovative Method of Financing Business Projects

2020 ◽  
Vol 8 (1) ◽  
pp. 44-50
Author(s):  
Anna Sergeeva ◽  
L. Voskresenskaya
Keyword(s):  
Comparative Analysis ◽  
Government Regulation ◽  
Legal Regulation ◽  
Regulatory Framework ◽  
Advantages And Disadvantages ◽  
Innovative Method ◽  
The Usa ◽  
Effective Attraction ◽  
Effective Development ◽  
The Uk

The article discusses one of the newest ways to finance business projects — crowdfunding. The opinions of scientists on the essence of this concept are generalized. Particular attention is paid to various types of crowdfunding. The objectives of crowdfunding participants are considered. The advantages and disadvantages of crowdfunding, as a method of financing projects, are highlighted, the main difficulties of the development of the crowdfunding market in Russia are identified. In particular, the necessity of improving the regulatory framework and legal regulation of crowdfunding is shown. The features of government regulation of the crowdfunding market in the USA and the UK are investigated. The rules for the effective development and functioning of crowdfunding domestic and foreign systems, as well as the rules of behavior of project initiators for the effective attraction of investments are generalized. A comparative analysis of the main Russian and foreign crowdfunding platforms is done. Statistics on the activities of the largest crowdfunding venues are presented. Conclusions are drawn about the prospects and trends of crowdfunding in Russia.

scholarly journals Project Financing as a Promising Form of Investment Organization

2020 ◽  
Vol 30 (2) ◽  
pp. 292-299
Author(s):  
Tatiana Shchukina ◽  
Danil Bobrov
Keyword(s):  
Project Financing ◽  
State Budget ◽  
Corporate Financing ◽  
Investment Projects ◽  
Advantages And Disadvantages ◽  
The World ◽  
The Russian Federation ◽  
Main Factors ◽  
Definition Of ◽  
Capital Intensive

The world practice of projects financing is growing rapidly, this is due to the fact that investments in the state budget or investor's own funds become insufficient for the implementation of infrastructure projects. The article is devoted to the study of such a form of investment organization as project financing. The approaches to the definition of the term «project financing» are considered and the principles characterizing this form of financial structuring of projects are determined. A comparative analysis of project financing with other forms of financing investment projects is carried out. The advantages and disadvantages of project financing in terms of state (budget) financing and corporate financing are revealed. Differences between project financing and venture financing are highlighted. The main factors contributing to the choice of project financing as a form of organizing investments in large capital-intensive projects, as well as factors hindering the widespread use of project financing in the economy of the Russian Federation, are substantiated.

The Use of Cost-Benefit Analysis for Evaluating Efficiency of Public Investment Projects (The Case of Sochi-2014 Winter Olympic Games)

2011 ◽  
pp. 57-78
Author(s):  
I. Pilipenko
Keyword(s):  
Net Present Value ◽  
Olympic Games ◽  
Cost Benefit Analysis ◽  
Public Investment ◽  
Cost Benefit ◽  
Investment Efficiency ◽  
Benefit Analysis ◽  
Step Method ◽  
Investment Projects ◽  
The Usa

The paper analyzes shortcomings of economic impact studies based mainly on input- output models that are often employed in Russia as well as abroad. Using studies about sport events in the USA and Olympic Games that took place during the last 30 years we reveal advantages of the cost-benefit analysis approach in obtaining unbiased assessments of public investments efficiency; the step-by-step method of cost-benefit analysis is presented in the paper as well. We employ the project of Sochi-2014 Winter Olympic and Paralympic Games in Russia to evaluate its efficiency using cost-benefit analysis for five accounts (areas of impact), namely government, households, environment, economic development, and social development, and calculate the net present value of the project taking into account its possible alternatives. In conclusion we suggest several policy directions that would enhance public investment efficiency within the Sochi-2014 Olympics.

Agrarian receipts as a tool for the structural transformation of financial and credit relations in the agrarian business of the region

2019 ◽  
pp. 40-53
Author(s):  
Yuliia Nehoda
Keyword(s):  
Comparative Analysis ◽  
Retrospective Analysis ◽  
Structural Transformation ◽  
Pilot Project ◽  
Bank Lending ◽  
Economic Benefits ◽  
Advantages And Disadvantages ◽  
New Instrument ◽  
Agricultural Business ◽  
Business Entities

The subject of the research – is a set of organizational-economic relations arising in the process of structural transformation of financial and credit relations in the agricultural business. The purpose of the article is a retrospective analysis of structural transformations of financial and credit relations in the agricultural business, evaluation of the effectiveness and feasibility of the introduction of agricultural receipts as a new instrument of lending to the agricultural business of the regions. Methodology of work – system-structural and comparative analyzes (to determine the effectiveness of the crediting mechanism according to the agricultural receipts of the farmers of the region); monographic (when studying the problems of the functioning of the mechanism of lending to agrarians by agrarian receipts) economic analysis (when carrying out a comparative analysis of the mechanism of classical bank lending to the agrarian business and the mechanism of lending to agrarians according to agrarian receipts); modeling and forecasting (when determining ways to overcome the existing deficiencies in the mechanism of lending to agrarian business entities of the region according to agrarian receipts). The results of the work – a retrospective analysis of the structural transformation of financial and credit relations in the agricultural business was carried out. The mechanism of crediting agrarians according to agrarian receipts and the scale of its distribution in the agrarian business of the region are considered. A comparative analysis of the mechanism of classical bank lending to the agrarian business and the mechanism of lending to agrarians according to agrarian receipts was carried out. In the framework of the pilot project “Agrarian receipts in Ukraine” of the international financial corporation (IFC) in partnership with the Swiss Confederation in Ukraine, the example of the Poltava region defined the effectiveness of the crediting mechanism according to the agrarian receipts of the agrarians of the region. The advantages and disadvantages of the mechanism of crediting the subjects of the agrarian business on agrarian receipts are noted. The ways to overcome the existing shortcomings of the mechanism of crediting the subjects of the agrarian business of the region according to agricultural receipts are determined. Conclusions – according to the results of the conducted research, the effectiveness of the mechanism of lending to the agricultural business of the regions according to agricultural receipts was proved, its advantages and disadvantages were noted, and attention was also focused. Proposed in Art. 7 of Law No. 5479-VI clearly delineate cases and restrictions on the debtor’s reimbursement of expenses incurred by the lender with the acquisition of the right to grow and harvest the pledged crop of agricultural products, which will ensure the principle of equality of parties on economic benefits and distribution of credit risks according to agricultural receipts.

ON COMPARATIVE ANALYSIS OF PERFORMANCE OPTIMIZATION METHODS OF MULTI-PUMP UNITS

2020 ◽  
pp. 23-28
Author(s):  
A.I. Glushchenko ◽  
M.Yu. Serov
Keyword(s):  
Energy Efficiency ◽  
Control System ◽  
Comparative Analysis ◽  
Performance Optimization ◽  
Optimization Methods ◽  
Online Optimization ◽  
New Approach ◽  
Advantages And Disadvantages ◽  
Analysis Of Performance

В статье рассматривается вопрос совершенствования системы управления параллельно-работающими насосными агрегатами с целью повышения энергоэффективности их работы. Проведено сравнение и выявление недостатков существующих методов решения рассматриваемой проблемы. Предложена идея нового подхода на базе онлайн оптимизации. The problem under consideration is improvement of the energy efficiency of a control system of parallel-running pump units. Known methods used to solve this problem are considered. Their advantages and disadvantages are shown. Finally, the idea of a new approach, which is based on online optimization, is proposed.

scholarly journals Circular Agreements—Exploring the Role of Agreements and Deals as a Political Tool for a Circular Economy

2021 ◽  
Author(s):  
Nils Johansson
Keyword(s):  
Value Chain ◽  
Circular Economy ◽  
Policy Instruments ◽  
Alternative Form ◽  
Advantages And Disadvantages ◽  
Free Rider Problem ◽  
Political Governance ◽  
The Eu

AbstractA problem for a circular economy, embedded in its policies, tools, technologies and models, is that it is driven by the interests and needs of producers, rather than customers and users. This opinion paper focuses on an alternative form of governance—agreements, which thanks to their bargaining approach brings actors from across the value chain into the policy process. The purpose of this opinion paper is to uncover and analyse the potential of such agreements for a circular economy. Circular agreements aim at increasing the circulation of materials and are an emerging form of political governance within the EU. These agreements have different names, involve different actors and govern in different ways. However, circular agreements seem to work when other types of regulations fail to establish circulation. These agreements bring actors together and offer a platform for negotiating how advantages and disadvantages can be redistributed between actors in a way that is more suitable for a circular economy. However, circular agreements are dependent on other policy instruments to work and can generate a free-rider problem with uninvolved actors. The agreements may also become too detailed and long term, which leads to problem shifting and lock-ins, respectively.

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