scholarly journals A QUANTITATIVE ASSESSMENT BASED ON CORRELATION-REGRESSIVE ANALYSIS OF THE IMPACT OF DIVIDEND PAYMENTS ON THE MARKET CAPITALIZATION OF RUSSIAN COMPANIES AS A CONDITION OF THEIR INVESTMENT ATTRACTIVENESS

2021 ◽  
pp. 75-81
Author(s):  
V. S. Pavlenko ◽  
A. D. Badrieva ◽  
S. O. Musienko
Keyword(s):  
Linear Relationship ◽  
Market Capitalization ◽  
Managerial Decisions ◽  
Dividend Payments ◽  
The Subject ◽  
Sample Method ◽  
Energy Companies ◽  
The Impact ◽  
Economic Forecasts ◽  
Regressive Analysis

The purpose of this research is to test by conducting a correlation-regression analysis of dividends paid by companies and their market capitalization the hypothesis that with an increase in dividend payments there is an increase in the capitalization of companies. The subject of the study is dividend payments by Russian energy companies and their market capitalization. The study was conducted using methods of statistical analysis of the data presented, a sample method based on data from six Russian PAOs in the energy sector, methods of correlation analysis, regression modeling based on the method of least squares and synthesis of the obtained data. Thus, the research has revealed that Russian energy companies in many cases have a direct linear relationship between dividend payments and market capitalization, but in some places the opposite or non-linear relationship can be seen. The results of this research can be used by Russian companies to develop dividend policy and to make economic forecasts and competent managerial decisions.

Place and role of rebranding in increasing market capitalization of modern energy companies

2021 ◽  
Vol 14 (3) ◽  
pp. 118-124
Author(s):  
Ye. S. Rychina ◽  
A. Ye. Uzhanov
Keyword(s):  
International Markets ◽  
Brand Name ◽  
Market Capitalization ◽  
Leading Role ◽  
The Russian Federation ◽  
Energy Companies ◽  
The Impact ◽  
A Company

The author estimates the impact of the rebranding process on the capitalization of modern energy companies.Based on the results of a comprehensive analysis, the main theoretical aspects of the brand renewal process have been identified and presented. Examples of the world practice of rebranding in the energy sector are given on the examples of such corporations as AGL Australia, Eversource (formerly Northeast Utilities), Statoil, Gas Natural Fenosa, PJSC Rosseti. The concept of initial brand is studied, and the analysis of rebranding in one of Russia’s largest energy companies, the State Atomic Energy Corporation Rosatom, is presented from the concept to implementation. It is estimated that due to rebranding, all subsidiaries and organizations of this company will be united under a common brand name, which should further unite all the separate parts of the holding into a single streamlined system. This will further enhance both the company’s reputation and economic standing on international markets. The potential and authority of the Rosatom brand are forecast to rise, with the corporation becoming more competitive and attractive for investors. In the long term, this will definitely affect the total capitalization of Rosatom. According to all forecasts, this will rise, bringing the company good profits, along with considerable proceeds to the Russian Federation budget.The research methodology is consistent with conventional boundaries, with a full set of approaches typical of research of a social phenomenon, such as the company's rebranding activities. As a hypothesis, a convincing and proven assumption has been put forward that the brand has become as important factor in competitiveness as the tangible properties of company products. Rebranding is therefore taking a leading role in increasing the market capitalization and competitiveness of a company in international markets.

scholarly journals Impact of Elimination of Dividend Distribution Tax on Indian Corporate Firms amid COVID Disruptions

2021 ◽  
Vol 14 (9) ◽  
pp. 413
Author(s):  
Anshu Agrawal
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Cash Flows ◽  
Market Capitalization ◽  
Factors Associated ◽  
Financial Firms ◽  
Dividend Payments ◽  
Dividend Distribution ◽  
Free Cash Flows ◽  
The Impact

Economic fallouts from COVID-19 have been unprecedented across all industries, with a handful of exceptions. The present study attempts to capture the impact of dividend distribution tax elimination, introduced through the Indian Finance Act 2020, on corporate dividend behavior in India. It explores the determinants of dividend payouts, changing payout decisions, dividend behavior of regular payers, and the prevalence of factors associated with changing payouts. Out of the top 1000 firms, based on their market capitalization at the Bombay Stock Exchange, 509 non-financial firms pursuing consistent dividend payments from 2015 to 2019 are analyzed. The study also examines the dividend behavior of regular payers exhibiting a stable or step-up payout from 2015 to 2019. COVID’s impact on the firm’s financial performance and sentiments seems to dominate, suppressing investors’ expectations of enhanced payouts associated with dividend distribution tax advantages, with considerable reductions in payouts and omissions shown by regular and irregular payers in 2020 and 2021 vis-à-vis the preceding years. The findings signify that the dividend payouts of sample firms are positively associated with the firms’ size, MBV ratio, and past dividends, and negatively allied with free cash flows and the EBITDA margin. Regular payers are observed to be more sensitive to past dividends. The study lends credence to the conservatism and prevalence of signaling and catering theories in the dividend behavior of Indian corporate firms.

scholarly journals Impact of Selected Determinants on the Choice of Sources of Financing in the Energy Companies of the Visegrád Group

2018 ◽  
Vol 41 (2) ◽  
Author(s):  
Nicole Škuláňová
Keyword(s):  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
Main Research ◽  
Independent Variables ◽  
Funding Sources ◽  
Equity Ratio ◽  
The Subject ◽  
Energy Companies ◽  
The Impact ◽  
Visegrad Group

Decision-making about capital structure is one of the basic decisions in each company, and therefore its analysis is the subject of this article. The importance of this theme corresponds to countless literature. This article aims to assess the impact of four determinants, selected by a review of earlier studies, on the choice of funding sources. The examined sample contains the energy companies of the Visegrád Group during the period 2009–2017. The data was obtained from Orbis and Eurostat database. The main research methods are correlation analyses and Generalized Method of Moments that are performed using EViews. The debt-equity ratio is used as the dependent variable. The independent variables are the growth rate of GDP, profitability, asset structure, and liquidity. For all countries, the influence of profitability on indebtedness was found. For Hungary, this relationship was negative, for remaining countries positive.

Managing Service Quality, Food Quality, Price Fairness and Customer Retention: A Holistic Perspective

2020 ◽  
Vol 2 (1) ◽  
pp. 1-5
Author(s):  
Ammar Ahmed ◽  
Rafat Naseer ◽  
Muhammad Asadullah ◽  
Hadia Khan
Keyword(s):  
Service Quality ◽  
Food Quality ◽  
Service Sector ◽  
Customer Retention ◽  
Price Fairness ◽  
Policy Makers ◽  
Restaurant Management ◽  
The Subject ◽  
Research Propositions ◽  
The Impact

In this competitive environment, organizations strive to satisfy their customer by providing best quality service at affordable and fair prices with a view to enhance their revenues. To achieve the objective of revenue maximization, organizations strive to identify the factors that help them in retaining their customers. Drawing from the signalling theory of marketing, the current study proposes a novel conceptual model representing the impact of service quality with food quality and price fairness on customer retention in restaurant sector of Pakistan. The paper underlines an important arena of knowledge for academicians as well as organizational scientists on the subject. On the basis of literature available on the variables understudy, the present study forwards eight research propositions worthy of urgent scholarly attention. The conceptualized model of the present article can also be viewed significant in unleashing further avenues for the restaurant management entities, policy makers and future researchers in the domain of managing in the service sector businesses.

Solow economy model

2019 ◽  
pp. 150-157
Author(s):  
Oleksandr Synenko ◽  
Kateryna Yarema ◽  
Yuliia Bezsmertna
Keyword(s):  
Economic Growth ◽  
Regression Analysis ◽  
Solow Model ◽  
Economy Model ◽  
Accelerated Depreciation ◽  
Basic Parameters ◽  
The Subject ◽  
Investment Process ◽  
The Impact ◽  
Model Algorithm

The subject of the research is the approach to the possibility of using the Solow model to perform the regression analysis on the example of the Ukrainian economy model. The purpose of writing this article is to investigate the notion of regres- sion analysis, Solow’s economy model, algorithm for performing regression analy- sis on the example of Ukraine’s economy model. This model can be adapted for the economy of enterprises. Methodology. The research methodology is system-struc- tural and comparative analyzes (to study the structure of GDP); monograph (when studying methods of regression analysis on the example of the Ukrainian economy); economic analysis (when assessing the impact of factors on Ukraine’s GDP). The scientific novelty consists the features of the use of the Solow model on the ex- ample of Ukrainian economy are determined. An algorithm for calculating the basic parameters of a model using the Excel application package is disclosed. The main recommendations on the development of the national economy and economic growth through the use of macroeconomic instruments are given. Conclusions. The use of the Solow model enables forecasting and analysis. The results obtained re- vealed the problem of low resource return of capital as a resource, along with the means of macroeconomic regulation of the investment process, using which can improve the situation. A special place in these funds belongs to the accelerated depreciation and interest rate policies.

Assessment of small businesses activities in Ukraine

2019 ◽  
pp. 40-47
Author(s):  
Igor Ponomarenko ◽  
Kateryna Volovnenko
Keyword(s):  
Comparative Analysis ◽  
Statistical Analysis ◽  
Small Business ◽  
Small Businesses ◽  
Government Agencies ◽  
Small Enterprises ◽  
The Subject ◽  
Business Entities ◽  
The Impact ◽  
Micro Enterprises

The subject of the research is a set of approaches to the statistical analysis ofthe activities of small business entities in Ukraine, including micro-enterprises. The purpose of writing this article is to study of the features of functioningof small business entities in Ukraine. Methodology. The research methodology isto use a system-structural and comparative analysis (to study the change in thenumber of small enterprises by major components); monographic (when studyingmethods of statistical analysis of small businesses); economic analysis (when assessing the impact of small business entities on socio-economic phenomena andprocesses in Ukraine). The scientific novelty consists to determine the features ofthe functioning of small businesses in Ukraine in modern conditions. The influenceof the activities of the main socio-economic and political indicators on the activities of small enterprises in recent periods of time has been identified. It has beenestablished that there is flexibility in the development of strategies by small businesses in conditions of significant competition, which makes it possible to quicklyrespond to changing situations in specific markets. Conclusions. The use of acomprehensive statistical analysis of small businesses functioning in Ukraine willallow government agencies to develop a set of measures to optimize the activitiesof these enterprises, which ultimately will positively affect the strengthening oftheir competitiveness and will contribute to the growth of the national economicsystem.

The Impact of Quantitative Easing on Emerging Markets – Literature Review

e-Finanse ◽  
2018 ◽  
Vol 14 (4) ◽  
pp. 67-76
Author(s):  
Piotr Bartkiewicz
Keyword(s):  
Emerging Markets ◽  
Large Scale ◽  
Empirical Literature ◽  
Quantitative Easing ◽  
Methodological Choices ◽  
The Subject ◽  
Methodological Approaches ◽  
The Impact ◽  
Sufficient Precision

AbstractThe article presents the results of the review of the empirical literature regarding the impact of quantitative easing (QE) on emerging markets (EMs). The subject is of interest to policymakers and researchers due to the increasingly larger role of EMs in the world economy and the large-scale capital flows occurring after 2009. The review is conducted in a systematic manner and takes into consideration different methodological choices, samples and measurement issues. The paper puts the summarized results in the context of transmission channels identified in the literature. There are few distinct methodological approaches present in the literature. While there is a consensus regarding the direction of the impact of QE on EMs, its size and durability have not yet been assessed with sufficient precision. In addition, there are clear gaps in the empirical findings, not least related to relative underrepresentation of the CEE region (in particular, Poland).

Assessment of sensitivity of the efficiency of regional tax spending towards investment attractiveness of the types of economic activity carried out by the residents of advanced development territory

2020 ◽  
pp. 98-110
Author(s):  
Evgeniya Mikhailovna Popova ◽  
Guzel Mukhtarovna Guseinova ◽  
Sergei Borisovich Milov
Keyword(s):  
Economic Activity ◽  
Socioeconomic Development ◽  
Federal District ◽  
Tax Incentives ◽  
Capital Investments ◽  
The Subject ◽  
Investment Process ◽  
The Impact ◽  
Advanced Development

The deficit of subnational budgets and deceleration capital investments in multiple Russian regions increase the relevance of research aimed at improvement of tax incentivizing practice of the regional investment process. The studies focused on determination of the impact of socioeconomic and institutional factors upon the efficiency of investment tax expenses obtained wide circulation within the foreign scientific literature. The subject of this article is the assessment of sensitivity of the efficiency of regional tax expanses towards investment attractiveness of the types of economic activity carried out by the residents of territories of advanced socioeconomic development, created in the subjects of Far Easter Federal District. The scientific novelty and practical values of this research consists in substantiation of the reasonableness of assessment of investment attractiveness of the types of economic activity that are stimulated by tax incentives. Methodology for assessing investment attractiveness is proposed and tested. The conclusion is made that in case of low investment attractiveness of the type of economic activity, which was planned to support by tax incentives, it is required to conduct and additional analysis to avoid unjustified tax expanses.

Anne O. Krueger, Constantine Michalopoulos and Vernon W. Ruttan. Aid and Development. Baltimore: The Johns Hopkins University Press. 1989. xiv + 386 pp.Price: U.S. $ 52.00

1991 ◽  
Vol 30 (2) ◽  
pp. 213-217
Author(s):  
Mir Annice Mahmood
Keyword(s):  
United States ◽  
Economic Development ◽  
International Development ◽  
Western Europe ◽  
Development Assistance ◽  
The United States ◽  
Social Infrastructure ◽  
Low Literacy ◽  
The Subject ◽  
The Impact

Foreign aid has been the subject of much examination and research ever since it entered the economic armamentarium approximately 45 years ago. This was the time when the Second World War had successfully ended for the Allies in the defeat of Germany and Japan. However, a new enemy, the Soviet Union, had materialized at the end of the conflict. To counter the threat from the East, the United States undertook the implementation of the Marshal Plan, which was extremely successful in rebuilding and revitalizing a shattered Western Europe. Aid had made its impact. The book under review is by three well-known economists and is the outcome of a study sponsored by the Department of State and the United States Agency for International Development. The major objective of this study was to evaluate the impact of assistance, i.e., aid, on economic development. This evaluation however, was to be based on the existing literature on the subject. The book has five major parts: Part One deals with development thought and development assistance; Part Two looks at the relationship between donors and recipients; Part Three evaluates the use of aid by sector; Part Four presents country case-studies; and Part Five synthesizes the lessons from development assistance. Part One of the book is very informative in that it summarises very concisely the theoretical underpinnings of the aid process. In the beginning, aid was thought to be the answer to underdevelopment which could be achieved by a transfer of capital from the rich to the poor. This approach, however, did not succeed as it was simplistic. Capital transfers were not sufficient in themselves to bring about development, as research in this area came to reveal. The development process is a complicated one, with inputs from all sectors of the economy. Thus, it came to be recognized that factors such as low literacy rates, poor health facilities, and lack of social infrastructure are also responsible for economic backwardness. Part One of the book, therefore, sums up appropriately the various trends in development thought. This is important because the book deals primarily with the issue of the effectiveness of aid as a catalyst to further economic development.

A Rhetorics of the Word

2019 ◽  
Author(s):  
George Pattison
Keyword(s):  
Political Discourse ◽  
Philosophical Tradition ◽  
Final Part ◽  
Communications Technology ◽  
Christian Life ◽  
Call And Response ◽  
Hermann Broch ◽  
The Subject ◽  
The Impact

A Rhetorics of the Word is the second volume of a three-part philosophy of Christian life. It approaches Christian life as expressive of a divine calling or vocation. The word Church (ekklesia) and the role of naming in baptism indicate the fundamental place of calling in Christian life. However, ideas of vocation are difficult to access in a world shaped by the experience of disenchantment. The difficulties of articulating vocation are explored with reference to Weber, Heidegger, and Kierkegaard. These are further connected to a general crisis of language, manifesting in the degradation of political discourse (Arendt) and the impact of new communications technology on human discourse. This impact can be seen as reinforcing an occlusion of language in favour of rationality already evidenced in the philosophical tradition and technocratic management. New possibilities for thinking vocation are pursued through the biblical prophets (with emphasis on Buber’s and Rosenzweig’s reinterpretation of the call of Moses), Saint John, and Russian philosophies of language (Florensky to Bakhtin). Vocation emerges as bound up with the possibility of being name-bearers, enabling a mutuality of call and response. This is then evidenced further in ethics and poetics, where Levinas and Hermann Broch (The Death of Virgil) become major points of reference. In conclusion, the themes of calling and the name are seen to shape the possibility of love—the subject of the final part of the philosophy of Christian life: A Metaphysics of Love.

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