scholarly journals Readability, efficiency and costliness of individual retirement products in Poland

Equilibrium ◽  
2021 ◽  
Vol 16 (1) ◽  
pp. 45-74
Author(s):  
Sylwia Pieńkowska-Kamieniecka ◽  
Joanna Rutecka-Góra ◽  
Patrycja Kowalczyk-Rólczyńska ◽  
Milena Hadryan
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Value Added ◽  
Difficulty Level ◽  
Analysis Tool ◽  
Investment Efficiency ◽  
Unique Contribution ◽  
Pension Systems ◽  
Low Efficiency ◽  
Product Forms

Research background: The role of supplementary pension systems in providing adequate income in old-age is increasing significantly. They are frequently analysed, but rather in terms of architecture, product forms, assets under management or tax incentives than in terms of their efficiency, costliness or readability for individuals. Purpose of the article: The first aim of this paper is to evaluate individual retirement products in Poland regarding their linguistic readability and transparency, investment efficiency and costliness. Moreover, we examine whether there is any correlation between the analyzed characteristics of contracts that would suggest an intentional strategy by financial institutions to hide low efficiency and high costs. The second aim of the article is to assess which individual retirement products are similar to each other and which are significantly different. The research covers two types of individual retirement products (IKE and IKZE) offered at the beginning of 2017. Methods: We used the ?Jasnopis? linguistic analysis tool to assess the difficulty level of the language used in the contracts and we conducted desk-research to analyse their transparency. We indicated the costliness and efficiency of the products by calculating the 5-year cost ratios and real average 5-year rates of return. To examine the relations between the characteristics of pension contracts, we used the Spearman's rank correlation coefficient and then verified its significance with a non-parametric test. Moreover, to identify groups of products that are similar to or different from each other, Ward's method was used. The study includes nearly 90% of  all individual retirement products offered in Poland. Findings & value added: For both types of retirement products studied (IKE and IKZE), we found that the more readable a contract is, the higher its rate of return is and the higher the costs charged are. Moreover, the more readable a contract is, the more transparent it is. The findings of the study provide financial institutions, the supervisor and creators of social policy with information on market imperfections and recommendations how to improve the individual retirement products offered on the market. Our research makes a unique contribution to the multidimensional research of supplementary pension systems. It also develops the understanding of how to successfully use linguistic tools in complex analyses of financial services. The results of the hierarchical cluster analysis proved that both IKE and IKZE products differ substantially and their features generally do not depend on the type of the financial provider.

scholarly journals Analisis Rasio Sebagai Dasar Pengukuran Kinerja Keuangan Pada Koperasi Simpan Pinjam Syariah BMT UGT Sidogiri

2018 ◽  
Vol 8 (2) ◽  
pp. 10-19
Author(s):  
Helmi Agus Salim ◽  
Amiroh Nurbailah
Keyword(s):  
Financial Performance ◽  
Financial Institutions ◽  
Financial Services ◽  
Economic Condition ◽  
Analysis Tool ◽  
Ratio Analysis ◽  
Unstable Condition ◽  
Financial Report ◽  
Financial Condition ◽  
Solvency Ratio

Saving and loan cooperative Syariah BMT UGT Sidogiri is one of financial institutions in which its activity is to collect fund from the members and distribute it through the mechanism of the islamic financial services business. It is from and for cooperative members, or even the candidate ones. With more and more competitors and the uncertain of the economic condition of indonesia affects unstable condition in its financial sector. To know that financial condition, needed appraisal  toward  Saving  and  loan  cooperative  Syariah  BMT  UGT  Sidogiri financial performance by applying analysis against financial performance through the financial ratios.This observation using calculation concern with the data in the form of financial report. Meanwhile, the analysis tool which is used in this observation is financial ratios which covers liquidity ratio,  solvency ratio, and profitability ratio.Overall from 2014-2017 analysis which is done produces good enough ratio except cash ratio analysis. That gains the smallest ratios, because in analyzing it conceptually does not invoive credit accounts, where in this Saving and loan cooperative Syariah BMT UGT Sidogiri the greatest wealth is got from credit accounts in accordance with the type of cooperative business namely Saving and loan cooperative.

Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) (Studi Kasus pada PT Astra International, Tbk. Periode Tahun 20082012)

2017 ◽  
Vol 1 (1) ◽  
Author(s):  
Abdul Hamid
Keyword(s):  
Financial Performance ◽  
Financial Services ◽  
Stock Price ◽  
Economic Value ◽  
Composite Index ◽  
Value Added ◽  
Secondary Data ◽  
Study Approach ◽  
Market Value Added ◽  
The Interest Rate

This study is a qualitative study using a case study approach to the PT. Astra International, Tbk. The object of this research is PT. Astra International, Tbk. PT. Astra International, Tbk is a company engaged in six business sectors, namely: automotive,financial services, heavy equipment, mining and energy, agribusiness, information technology, infrastructure and logistics. Researchers chose PT. Astra International, Tbk as research objects due in the year 2012, PT. Astra International, Tbk managed to rank first in the list of 100 Best Companies to Go Public by the 2011 financial performance of Fortune magazines Indonesia. The data used in this research is secondary data, the financial statements. Astra International, Tbk 20082012. Other secondary data used is the interest rate of Bank Indonesia Certificates (SBI), the Jakarta Composite Index (JCI), and thecompanys stock price began the year 20082012. This study aims to determine the companys financial performance by the use of EVA and MVA approach, therefore the data analysis technique used is the EVA and MVA. Based on the value EVA of the year 2008 2012, PT. Astra International, Tbk has good financial performance that managed to meet the expectations of the company and the investors. Based on the value of MVA during the years 20082012, PT. Astra International, Tbk managed to create wealth and prosperity for companies and investors. It concluded that financial performance. AstraInternational, Tbk for five years was satisfactory.

Comparison between Seven MPPT Techniques Implemented in a Buck Converter

2019 ◽  
Vol 12 (6) ◽  
pp. 476-486
Author(s):  
Lahcen El Mentaly ◽  
Abdellah Amghar ◽  
Hassan Sahsah
Keyword(s):  
Value Added ◽  
Buck Converter ◽  
Maximum Power ◽  
Solar Irradiation ◽  
Solar Panels ◽  
Maximum Power Point ◽  
Point Tracking ◽  
Pv Panel ◽  
Low Efficiency ◽  
Power Point

Background: The solar field on our planet is inexhaustible, which favors the use of photovoltaic electricity which generates no nuisance: no greenhouse gases, no waste. Methods: It is a high value-added energy that is produced directly at the place of consumption through photovoltaic (PV) solar panels. Notwithstanding these advantages, the maximum power depends strongly on solar irradiation and temperature, which means that a Maximum Power Point Tracking (MPPT) controller must be inserted between the PV panel and the load in order to follow the Maximum Power Point (MPP) continuously and in real time. In this work, MPP’s behavior was simulated at different temperatures and solar irradiations using seven techniques which identify the MPP by different methods. Results: The novelty of this work is that the seven MPPT methods were compared according to a very selective criterion which is the MPPT efficiency as well as a purely digital duty cycle control without using the PI controller. The simulation under the PSIM software shows that the FLC, TP, FSCC, TG, HC and IC methods have almost the same efficiency of 99%, whereas the FOCV method had a low efficiency of 96%. Conclusion: This makes it possible to conclude that the best methods are FLC, HC and IC because they use fewer sensors compared to the rest.

Comprehensive evaluation of logistics enterprise competitiveness based on SEM model

2020 ◽  
pp. 1-11
Author(s):  
Yang Yaxu
Keyword(s):  
Latent Variables ◽  
Comprehensive Evaluation ◽  
Evaluation Model ◽  
Value Added ◽  
Learning Technology ◽  
Logistics Enterprise ◽  
Logistics Mode ◽  
Enterprise Competitiveness ◽  
Low Efficiency ◽  
Enterprise Logistics

The loose logistics market, the weak value-added service capabilities of enterprises, and the backward construction and operation of logistics networks have led to high logistics costs and low efficiency in some enterprises. In order to improve the comprehensive evaluation effect of enterprise logistics enterprise competitiveness, this paper builds a comprehensive evaluation model of logistics enterprise competitiveness based on SEM model based on machine learning technology. Moreover, in order to more accurately grasp the law of customer logistics mode selection behavior, this paper adds the adaptive value of the latent variables of the logistics mode service characteristics obtained through the SEM model to the utility function of the logistics mode to obtain the SEM-NL integrated model. In addition, starting from the analysis of the key factors affecting the competitiveness of enterprise logistics, this paper constructs an evaluation model of enterprise logistics competitiveness, and analyzes and studies the comprehensive competitiveness of enterprise logistics through two aspects of logistics actual competitiveness and logistics future development potential. The research results show that the model constructed in this paper is suitable for the comprehensive evaluation of the competitiveness of logistics enterprises.

Affluent and Nonaffluent Consumers′ Needs: Attitudes, and Information‐Seeking Behaviour in the Financial Services Marketplace

1990 ◽  
Vol 4 (4) ◽  
pp. 41-54 ◽  
Author(s):  
Edward G. Thomas ◽  
S.R. Rao ◽  
Rajshekhar G. Javalgi
Keyword(s):  
Statistical Analysis ◽  
Discriminant Analysis ◽  
Survey Data ◽  
Financial Institutions ◽  
Financial Services ◽  
Information Seeking ◽  
Financial Services Industry ◽  
Market Segments ◽  
Information Seeking Behaviour ◽  
Services Industry

Considers the proliferation of products and services in the financial services industry aimed at different market segments. Highlights the affluent and nonaffluent market segments. Employs statistical analysis of survey data to evaluate the financial services needs, attitudes, and information‐seeking behaviour of these segments. Suggests implications for the managers of financial institutions, based on the study findings. Includes appendices on methodology and discriminant analysis used in the study.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

Analisis Manajemen Pembiayaan Murobahah BMT

WADIAH ◽  
2019 ◽  
Vol 3 (1) ◽  
Author(s):  
Ryski Pebriana, Rofik Efendi
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Field Research ◽  
Animal Husbandry ◽  
Muslim Community ◽  
Savings And Loans ◽  
Management Function ◽  
Islamic Financial Institutions ◽  
Qualitative Descriptive ◽  
Descriptive Approach

The development of Islamic banking and Islamic financial institutions in Indonesia lately increasing. One reason is the strong belief in the Muslim community that banking and conventional financial institutions contain usury which is prohibited by Islam. The presence of Agritama Srengat Blitar BMT as Syari'ah savings and loans is intended to be a more innovative alternative in financial services, the financing process is also not complicated. The absence of an element of usury to Murabahah financing, and the ease of the process and conditions for financing, does not make more and more bad loans. The approach used in this research is a qualitative descriptive approach, while the type of research is field research, and the method of collecting data is observation, interview and documentation, which is using three steps, data reduction, file presentation and drawing conclusions.The results of this study indicate that: 1). Financing procedures at BMT Agritama Srengat Blitar use 5C analysis (character, capacity, capital, collateral, condition) and take into account a maximum radius of 10 km, but this does not apply to existing customers and customers who get recommendations from partners. 2). The implementation of Murabahah financing management has not been in accordance with the murabaha management function which includes planning, organizing, implementing, and controlling. Where the planning of murabahah financing is devoted to agriculture and animal husbandry, but in practice it is not appropriate, then in the implementation of murabahah financing using a wakalah contract it is signed together with murabahah. And the supervision conducted by BMT Agritama is not routinely visited to the place of business. Keywords : financing manajement, murabahah

The Legal Form of Financial Institutions as a Way to Protect the Rights of Financial Market Participants

2021 ◽  
Vol 10 (1-2) ◽  
pp. 29-46
Author(s):  
Valentina I. Borisova ◽  
Igor V. Borisov ◽  
Farkhad S. Karagussov
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Scientific Development ◽  
Legal Form ◽  
Market Participants ◽  
Legal Structure ◽  
Legal Forms ◽  
High Level ◽  
Legal Mechanism ◽  
Legal Entities

Abstract Financial institutions are the centre of economic and legal interests of participants of the financial services market, which is itself characterised by a high level of conflict of interests of its participants. The purpose of the article is the scientific development of the legal structure of organisational and legal forms of financial institutions, in the market of financial services, as a legal mechanism for reconciling the economic and legal interests of the main participants of this market. The features of basic and modified legal forms of legal entities are elaborated in this article. It is determined that financial institutions are established and operate in ‘modified’ legal forms. Such forms emerge due to the supplementation of the structure of the main elements of the basic legal forms of legal entities. This refers to additional functional legal means that reflect special requirements for the relevant types of legal entities, depending on the economic and legal interests of their founders/participants.

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