Abstract:The aim of this article is a detailed investigation of financial performance of milk processing companies of Central Europe and the Russian Federation before the Russian embargo. An investigated object is a data base of accounting reports of 5 countries over the period of 2009 -2013. The number of selected companies is 370. The article also involves a short review of the dairy industry condition. In order to compare financial performance of two regions 4 types of criteria i.e. profitability ratios, turnover ra… Show more
“…These initiatives are also supported by Špička and Kontsevaya (2016), who show that companies that generate higher profitability, in the case study of the dairy sector, have a more organized cost management, have greater advances in production technologies, among other factors, but also their capital structure is focused on long-term financing and shareholder investment. Therefore, in companies that are more financially strengthened, and leveraged by long-term financing, liquidity is not a problem, on the contrary, SMEs have working capital that allows financing technologies needed in their production processes and, in turn, favour the generation of economic returns on investment, increasingly significant; these statements are supported by Dungey, Doko and Yanotti, (2018).…”
Section: Discussionmentioning
confidence: 93%
“…For the selection of the sample, obtaining the accounting figures and the analysis was taken as a basis, the research methodology applied by Špička and Kontsevaya (2016). Table 1 describes the size of the population and sample.…”
The economic development of the regions depends to a great extent on management skills. Objective. To determine the level of use of financial information by SMEs in Boyacá in their economic management. Methodology. The method used is quantitative, based on the business bases of the chambers of commerce, classified as group II in the implementation of the IFRS. 159 entrepreneurs were surveyed, 86 % of which were small and 14 % medium-sized companies. Results. 44 % of the SMEs in Boyacá do not have anintegrated accounting information system; 53 % generate comparative financial statements, but only 36 % of them do so for decision-making purposes and the remaining 64 % consolidate accounting reports for reporting to control entities, contracting and financing procedures. Regarding the IFRS implementation process, 33 % already apply the international regulatory framework, and the remaining 67 % have started its implementation, but do not apply it completely. Conclusion. A low level of use of economic-financial information for decision making was detected.
“…These initiatives are also supported by Špička and Kontsevaya (2016), who show that companies that generate higher profitability, in the case study of the dairy sector, have a more organized cost management, have greater advances in production technologies, among other factors, but also their capital structure is focused on long-term financing and shareholder investment. Therefore, in companies that are more financially strengthened, and leveraged by long-term financing, liquidity is not a problem, on the contrary, SMEs have working capital that allows financing technologies needed in their production processes and, in turn, favour the generation of economic returns on investment, increasingly significant; these statements are supported by Dungey, Doko and Yanotti, (2018).…”
Section: Discussionmentioning
confidence: 93%
“…For the selection of the sample, obtaining the accounting figures and the analysis was taken as a basis, the research methodology applied by Špička and Kontsevaya (2016). Table 1 describes the size of the population and sample.…”
The economic development of the regions depends to a great extent on management skills. Objective. To determine the level of use of financial information by SMEs in Boyacá in their economic management. Methodology. The method used is quantitative, based on the business bases of the chambers of commerce, classified as group II in the implementation of the IFRS. 159 entrepreneurs were surveyed, 86 % of which were small and 14 % medium-sized companies. Results. 44 % of the SMEs in Boyacá do not have anintegrated accounting information system; 53 % generate comparative financial statements, but only 36 % of them do so for decision-making purposes and the remaining 64 % consolidate accounting reports for reporting to control entities, contracting and financing procedures. Regarding the IFRS implementation process, 33 % already apply the international regulatory framework, and the remaining 67 % have started its implementation, but do not apply it completely. Conclusion. A low level of use of economic-financial information for decision making was detected.
“…For evaluating company A's financial sharing capabilities, five first-level indicators are divided into four dimensions, are allowed to score the financial sharing center capabilities [19]. e evaluation criteria are mainly reflected in key structures, such as sharing capabilities and data interaction speed.…”
This article mainly studies the innovation of borderless integrated financial management in big data social media in the era of wireless communication networks. For evaluating company A’s financial sharing capabilities, five first-level indicators are divided into four dimensions: quality, efficiency, cost, and safety, and are allowed to score the financial sharing center capabilities. First of all, system integration takes performance appraisal as the core, and through the establishment of a reasonable appraisal system, performance appraisal for the members of the financial team is carried out. Secondly, team members need to accept two-way leadership, two-way assessment, and two-way incentives from the finance and business departments. The experimental factors were analyzed, and the results showed that the cumulative variance contribution rate with common factors reached 89.339%. The importance of the first-level indicators is in order of process reengineering (27.08%), operation management (22.33%), information system (20.24%), personnel management (17.178%), and strategic planning (12.46%).
“…As regards the livestock farming, unexpected events include diseases that may affect the production output. As regards the EU and its new member states, the Russian embargo of 2014 has also played a crucial role in shaping the milk market (Špička & Kontsevaya, 2016). In addition, the abandonment of the milk quotas (Čechura et al, 2021) led to even higher volatility of milk prices.…”
This paper analyses the trends and sources of change in agricultural revenue for the new European Union (EU) member states, namely Latvia, Lithuania, and Poland. These countries still lag behind the old EU member states in terms of profitability, productivity, and farm size. Thus, assessment of the patterns in agricultural revenue changes in these countries may provide evidence for reasonable policy making. The period covered is 2011-2019. The analysis is carried out for selected agricultural products (wheat, milk, poultry, potatoes). The logarithmic mean Divisia index is applied for the decomposition. The results indicate that the effects of scale, productivity, and price change varied across the countries and products. Therefore, dedicated policy measures and pathways are needed for each particular context.
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