LEGAL ASPECT OF LETTERS OF CREDIT Jančíková, Eva; Pásztorová, Janka
Perspectives of Law and Public Administration,
10/2021, Volume:
10, Issue:
Special
Journal Article
Peer reviewed
Open access
Documentary letters of Credit are one of the most important payment methods used to facilitate international trade by mitigation of different risks connected with business partner or his country. ...Letter of credit transactions are relatively complexed and contractual relationship are governed by international rules and national laws. The aim of this scientific study is to identify legal aspects of letters of credit, to describe the relationship between parties of the letter of credit transaction and analysis the basic legal rules and laws governing these transactions. We used mainly classical scientific methods due to its descriptive character. We used the method of structured observation, determining the fundamental principles – the autonomy of letter of credit and the strict compliance, method of specification or concretisation – identification of relationship between parties and abstraction – definition of general and essential information about international rules and national laws of some countries.
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One of the components of a highly effective management system is operational controlling at the enterprise. At the same time, the most important indicator characterising the efficiency of the ...functioning of the enterprise and, accordingly, subject to controlling is its solvency, which affects the level of competitiveness of the enterprise and the efficiency of its adaptation to the changing conditions of the market environment. In this regard, the purpose of the research is to modernize the procedure of financial controlling based on the development of an integral model for determining and analysing the transformational solvency index. The article forms a universal model of financial condition assessment, in which all threshold values of the coefficients, calculated according to existing methods of financial stability assessment, are reduced to one scale and the accumulated impact of indicator values for previous periods of economic activity is taken into account.On the basis of the correlation analysis, the nature and strength of the dependence of the transformational solvency index on the factors influencing its formation and causing tendentious trends in the dynamics of its change during a certain period are determined.
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IZUM, KILJ, NUK, PILJ, PNG, SAZU, UL, UM, UPUK
Introduction. The issues of strengthening Ukraine’s energy security are related to addressing the insufficient understating of its essence, nature and criteria for assessing the vulnerability of the ...national economy. The need to improve the existing methodology for calculating the overall performance of energy security assessment is considered to be relevant due to the insufficient level of research on related issues and inconsistency of individual aspects. The composite fuel poverty index by region provides information on energy efficiency of households in different regions and helps to assess the level of poverty of the regions derived from the analysis of the consumption of fuel and energy resources by households in the regions, the pricing policy in Ukraine’s energy market, as well as the income and expenditure level of households. The purpose is to develop a methodology for determining the composite fuel poverty index by region, revealing the principal factors of its formation, and to identify ways of improving the country’s social and economic security in the context of energy market deregulation. The results of the study reveal indicators that allow assessing the consumption of fuel and energy resources by households by region in qualitative and quantitative terms, taking into account the nonlinearity of economic processes in the context of economic transformation. The problems relating to the implementation of social and economic policy of the state are revealed in the context of the Ukrainian energy market deregulation. The authors of the research have developed an analytical model of the energy inefficiency of Ukrainian regions, as well as a model for estimating the fuel poverty index of relevant regions (FPIi ) by using the monetary poverty indicator Pi and the energy inefficiency indicator Ici , i.e. the cost of all energy resources consumed by average households of a region calculated as a unit area. In the 2012-2016 period, the fuel poverty index was established in the range from 0.5 to 0.65. However, the index fluctuations are affected to a great extent by increases in prices on fuel and energy resources, with a high value of the index being indicative of a low level of personal income and high expenditures on fuel and energy resources for Ukrainian households. Conclusion. The calculation of the composite fuel poverty index makes it possible to determine the regions with low incomes and high energy consumption with regard to 1 sq.m of household area. The proposed methodology can become an integral part of the analytical assessment of regions’ energy security. The calculation results for Ukraine show that the share of fuel and energy costs as part of household costs exceeded 10% of households’ income threshold for 2012-2016, resulting in low living standards of the population and hardship in meeting basic needs. Further increase in fuel and energy prices will bring about an increase in social tension.
Within V4 automotive Global Value Chains (GVCs), technologies absorbed by the corporate sector represent a significant impact on the level of value-added created within the economy. Sectoral and ...geographic targeting of our research is determined by the export of motor vehicles, trailers, and semi-trailers produced in the V4 countries. The article’s main objective was to investigate the role of services provided by V4 countries within GVCs with an emphasis on transport and storage. The authors used the method of linear regression analysis to answer two central research questions. Is there a synergic or spillover effect within the automotive clusters of the V4 countries in creating value-added originating in the logistic services? What role absorption of technology at the firm level in EU27 countries (the most important trading partners of the V4 countries) plays in creating value-added in the V4 automotive sector? Authors found differentiated results within V4 countries, confirming the hypothesis related to technology absorption.
Implications for Central European audience: Despite high V4 export performance, the research suggests how to increase the value-added through higher involvement within GVCs (particularly the automotive industry). The paper demonstrates a positive impact of importing transport services from the EU countries to some V4 countries (Slovakia, Czechia, and Poland) and its value-added content in gross exports. For any V4 country, an increase in the quality of the business environment of EU trade partners (measured as the corporate level of technology absorption) results in a lower value-added creation, quite significantly, with lower effect in the case of Czechia, but more than 15% decrease in case of Poland, Hungary, and Slovakia.
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COMMUNICATION MANAGEMENT IN SOFTWARE PROJECTS Malcher, Viliam; Andrea, Studeničová; Pásztorová, Janka
International journal of information, business and management,
11/2017, Volume:
9, Issue:
4
Journal Article
Organizations carry out their business tasks using the project-based approach. Realization of projects requires appropriate management. One of the primary areas of project management is communication ...management, because of its impact on the success of the project, in particular IT projects carried out by dispersed teams. However, despite the existence of numerous sets of principles and methodologies concerning communication management and many available tools, many project failures that result from improper communication management. The main goal of the paper is to propose a simple communication by software code for the large IT project where participants of teams are distributed on the different locations.
Continuous increase in energy and raw material consumption in the world are the characteristics of today's global economy. The growing demand on high standard of living causes a deepening dependency ...on the energy resources, especialy on oil and gas. Natural gas has become a commodity with increasing importance. A supporting fact is that natural gas has positive environmental features, optimistic lifetime period estimated to 200 years, and comparative price availability. Nowadays basic principles are whether there will be sufficient amount of natural gas resources in the future and whether the price will be able to compete with prices of other energy resources. Just combination of reasonable price with continuity of deliveries of the natural gas can guarantee the trouble-free development of national economy. This is the current priority of the economic policy of the most EU countries.
This paper presents the conceptual analysis of the selected cultural, economic, geographical, historical factors and the specifics of Chinese market of luxury products. The authors conclude that the ...essential condition for the success of the luxury products strategy for Chinese consumers is constant review of approaches to young, sophisticated and well-informed Chinese customers, enhancing the exclusive atmosphere and applying the qualified marketing.
The paper describes the process of internationalization of the Renminbi (RMB) and its position in international trade and financial markets. The aim of the article is to assess the prospects of ...turning Chinese currency (CNY -- Yuan, measured by the value of RMB) into one of the reserve currencies. The growth of the multipolar world has led to an international re-evaluation of the USD's role as the world's dominant reserve currency -- paving the way for the possible adoption of alternatives. In particular, banks all over the world are ready to realize transactions in Renminbi for their corporate clients.
The article evaluates the role of the logistics and the freight transport in determining the size and the structure of the transaction costs in export price. The research is mainly based on the ...Coase´s and Williamson´s theories about the contractual costs being the largest costs in the process of doing the international business. To determine the structure and the size of the transaction costs we applied the managerial model of the hypothetical export price structure based on the Transaction Costs Matrix. The research was based on selected regression analysis, the purpose of which was to evaluate a linkage between the costs to export of 1 TEU container and the quality of the business environment determined by selected indicators from the Global Competitiveness Index. Special analysis was used to identify selected indicators from the mentioned model of the hypothetical export price structure.
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