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Financial Internet Quarterly
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This is an Open Access Journal

Open Access journal
ISSN (Print) 1734-039X - ISSN (Online) 2719-3454
Published by Sciendo

[370 journals]

Comparative analysis of the contribution to the united nations sustainable
development goals through non-financial information disclosed by IBEX 35
companies
- Abstract: The purpose of this research is to examine the non-financial key performance indicators contemplated in Directive 2014/95/EU through the prism of the Sustainable Development Goals (SDGs). To do this, the presence of the indicators contemplated in the United Nations 2030 Agenda in the non-financial information disclosed by the groups of companies listed in the Spanish IBEX 35 index in the years 2017 and 2019 has been analyzed. The obtained results show an increase in the presence of SDGs in the non-financial reports of IBEX35 listed companies. Furthermore, the statistical analysis reveals that there are no significant differences in the number of SDGs incorporated as non-financial key performance indicators between the different business sectors. The methodology used in this research also constitutes a tool that can be used to learn about the implementation of social and environmental policies in other companies.
  PubDate: Wed, 13 Apr 2022 00:00:00 GMT
The impact of IFRS adoption on foreign direct investment in CIS
- Abstract: Exploring the relationship between International Financial Reporting Standards (IFRS) and Foreign Direct Investment (FDI) inflows is the main objective of this paper. Although IFRS is identified as a determinant of FDI, a few studies have examined the impact of IFRS on FDI inflows, and it is unexplored as to whether IFRS impacts CIS countries. This paper covers ten (10) IFRS adopted CIS countries from 2000 to 2019 using Ordinary Least Square (OLS) and bias-corrected Least Square Dummy Variable (LSDVC). OLS estimator shows that IFRS positively impacts FDI inflows. However, according to the results of LSDVC, there is a negative relationship between IFRS adoption and FDI inflows. Generally, in developing countries implementing IFRS would lead to FDI enhancement. The negative relationship between IFRS adoption and FDI inflows in CIS countries shows that IFRS is not an essential factor of FDI inflows.
  PubDate: Wed, 13 Apr 2022 00:00:00 GMT
How do dynamic financing decisions explain the behavior of dividend payout
policies'
- Abstract: The study investigates the factors that influence dividend payout policy in public Pakistani manufacturing companies throughout the timeframe 2010-20. Pooled OLS technique was used for regression purposes, as the majority of companies do not pay a dividend at all or do not do so regularly so all these firms were excluded from the final dataset. The study discovers that dividend payout in listed Pakistani manufacturing firms is significantly affected by ratio of short-debt, ratio of long-debt, ratio of total-debt, life cycle ratio and cash ratio. Similarly, short term debt ratio, ratio of long-debt and life cycle ratio, increase the dividend payout while cash ratio decreases the dividend distribution ratio for publically traded Pakistani manufacturing companies. The policymakers/financial advisors and decision-makers in listed Pakistani manufacturing firms should take into consideration factors such as debt financing, life cycle ratio, and cash ratio in making their dividend policies.
  PubDate: Wed, 13 Apr 2022 00:00:00 GMT
Can we predict high growth firms with financial ratios'
- Abstract: This study attempts to predict high growth firm (HGF) status with financial ratios. Measures related to the firm’s effectiveness in using assets to generate profits, EBITDA margin, debt ratio, equity-to-debt ratio and return on assets are associated with HGF status. While the financial ratios improve HGF prediction, prediction remains modest (AUC = 0.627). This study suggests it is difficult to assume a very good HGF forecast from only financial ratios; therefore, the recommendation for researchers and policymakers building models for predicting HGFs is to incorporate non-financial ratio variables, like the intangible innovation and team-related variables. Finally, study suggests a standardized reporting of prediction performance metrics in the out-of-sample and out-of-time simulation for HGF prediction studies.
  PubDate: Wed, 13 Apr 2022 00:00:00 GMT
Cashless payment system and Covid-19 on the example of the Czech Republic
- Abstract: The paper deals with cashless payments during the pandemic situation caused by Covid-19. The aim of the paper will be to use the method of analysis and comparison of selected data to answer the following research question: Has the pandemic caused by Covid-19 contributed to increasing the share of non-cash payments' The authors base their research on the hypothesis that “the pandemic period had a significant impact on the development of cashless payments”. From the performed research, the authors came to the conclusion that based on the methods used, the established hypothesis was not confirmed and the answer to the research question had to be given in the negative.
  PubDate: Wed, 13 Apr 2022 00:00:00 GMT
The impact of capital structure on bank performace in emerging markets;
empirical evidence from GCC countries
- Abstract: The current literature is equivocal and provides inconsistent evidence about the relationship between firms’ performance and capital structure choices. This study adds the empirical evidence on association between capital structure and bank performance to this inconclusive debate. It uses the data of commercial conventional banks listed on various stock exchanges of six Gulf Cooperation Countries (GCC) i.e. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The study uses unbalanced panel data of 50 banks operating in these countries during 2012 to 2017, having 299 bank year observations. ROA and ROE are used as performance variables, with total debt ratio as explanatory variables. Bank size, assets tangibility, earnings volatility, growth, GDP growth rate, and inflation rates are employed as control variables. Three regression techniques, pooled OLS, fixed effects and random effects estimations are used to explore the relationship. The results suggest leverage and the control variables have a substantial effect on the performance of banks but are distinctive in nature as per the banking industry compared to non-financial firms.
  PubDate: Wed, 13 Apr 2022 00:00:00 GMT
The role of soft skills in employability in the financial industry
- Abstract: The purpose of this article is to present and analyze the results of research on soft skills that increase employability in the financial sector. The article presents not only a diagnosis of the importance of soft skills in the banking and financial industry, but also indicates which soft skills may be poised to increase employability, which skills are lacking among new entrants in the job market of the banking and financial industry, and how soft skills training is perceived among industry participants. Finally, the importance of these variables in the banking and financial industry has been compared with their importance in other industries.
  PubDate: Wed, 13 Apr 2022 00:00:00 GMT
Financial Inclusion: Globally Important Determinants
- Abstract: This paper highlights the globally-important determinants of financial inclusion. The determi-nants identified in this paper are formal account ownership; demand for formal savings; demand for formal borrowing; financial literacy and education; debit and credit card usage; the need to receive remittances from family and friends; size of the financial system; number of automated teller machines (ATMs); number of bank branches; proximity to a bank; availability and access to mobile phones; availability of digital financial products and services; technology infrastructure; government policy; culture and traditional belief systems; national financial inclusion strategy and implementation; and direct legislation.
  PubDate: Sat, 01 Jan 2022 00:00:00 GMT
Financial Condition and Bankruptcy Likelihood in Aviation on the Example
of the Aeroflot Company
- Abstract: This study analyses theoretical aspects of bankruptcy and financial analysis. Analysis of bankrupt cy diagnostics is the most important condition for successful company management since the results of economic activity depend on the availability and efficiency of the use of financial resources. The study of the institution of bankruptcy is essential for high-quality business conduct. Thus, as a practical part this study implemented analyses of financial condition and bankruptcy likelihood in aviation on the example of one of the biggest airlines – PJSC Aeroflot. Research resulted in findings confirming the instability of the company’s financial condition and downward trend on the Z index related to decrease in demand, mostly due to the pandemic of COVID-19.
  PubDate: Sat, 01 Jan 2022 00:00:00 GMT
Individual Pension Products Offered by Banks in Poland - a
Multidimensional Comparative Analysis
- Abstract: The supplementary old-age pension system in Poland consists of group and individual plans. This research covers the latter, namely the individual retirement accounts and individual retirement security accounts that were introduced in 2004 and 2012 respectively. The main aim of the paper is to conduct a multidimensional comparative analysis of bank retirement products including the linguistic complexity of documents creating the retirement contracts offered to individuals by banks, and the costliness and profitability of such products in the period 2012-2019. Moreover, it identifies the dependencies between the linguistic and economic traits of retirement contracts offered by banks. The correlation analysis conducted using the Spearman’s rank correlation coefficient showed that the more readable a document of a bank contract is, the higher the interest rate is and the higher the cancellation fees. The results of the study are relevant for both financial institutions and public bodies as they show the key characteristics that may influence the demand for individual retirement products in Poland and may serve as either a stimulator or a barrier in the development of supplementary old-age pension provision.
  PubDate: Sat, 01 Jan 2022 00:00:00 GMT
Financial and Non-Financial Aspects of Entrepreneurship - the Polish
Perspective
- Abstract: The phenomenon of entrepreneurship has various perspectives – economic, financial, social, and psychological. The aim of this paper is to present entrepreneurship from a perspective merging both financial and non-financial aspects of this phenomenon. The article presents two (complementary) aspects related to the phenomenon of entrepreneurship. One of the aspects described by author is the availability of financing for businesses in Poland (showing the issue in response to the most important obstacle to running a business), the other is shaping entrepreneurial attitudes. The section on sources of financing give an answer to the question of whether (and if so - to what extent) the problem of access to financing is a real barrier to starting a business in Poland. Presenting the perspective of students gives a new view on the subject and enables us to recognize factors that determine the decision to start a business among young people, knowledge of which may contribute to a change in attitudes towards setting up a business in Poland. Among the conclusions, the author mentions, inter alia, the need to strengthen entrepreneurial attitudes among students, especially due to the growing number of companies operating in Poland for reasons of positive motivation (such as improvement of the standard of living or independence). Moreover, the conducted analyses lead to the conclusion that new companies are financed primarily from their own resources, which discourages many from starting their own business.
  PubDate: Sat, 01 Jan 2022 00:00:00 GMT
Bayesian Online Change Point Detection in Finance
- Abstract: It is quite common that the structure of a time series changes abruptly. Identifying these change points and describing the model structure in the segments between these change points is an important task in financial time series analysis. Change point detection is the identification of abrupt changes in the generative parameters of sequential data. In application areas such as finance, online rather than offline detection of change points in time series is mostly required, due to their use in predictive tasks, possibly embedded in automatic trading systems. However, the complex structure of the data generation processes makes this a challenging endeavor. This paper is concerned with online change point detection in financial time series using the Bayesian setting. To this end, the Bayesian posterior probability of change at a specific time is proposed and some procedures are presented for selecting the priors and estimation of parameters. Applications in simulated financial time series are given. Finally, conclusions are proposed.
  PubDate: Sat, 01 Jan 2022 00:00:00 GMT
Usage of Public Financial Support Services, Entrepreneurial Orientation
and Sme Performance: the Case of Malaysia
- Abstract: SMEs have received much recognition as they continue to be the backbone in the development and economic growth of nations. This study intended to investigate how the entrepreneurial orientation moderates the relationship between the utilization of the financial support services and the firm’s performance. This study used Structural Equation Modeling to evaluate the impact of financial support services on SME performance. The sample for this study involved SMEs in Malaysia. The result indicates that financial support services significantly associated with the firms’ performance and entrepreneurial orientation failed to influence significantly the relationship between the usage of the services and the performance. The findings of this study could be useful for the government business support services providers to enhance further the quality of services and will provide an understanding of how effectively the characteristics of SMEs related to entrepreneurial orientation would help increase the effectiveness of the support services.
  PubDate: Sat, 01 Jan 2022 00:00:00 GMT