The dynamic economic development supported by progressive globalisation can be observed in every EU country. It would, therefore, seem that financial market instruments are not only known to, but ...also used by, the managers of SME’s (99% of all Polish businesses). It would seem that SME should all the more penetrate the financial market in search of thus far unseized subsidising opportunities. The article presents the results of the author’s own research concerning the respondents’ perception of capital market instruments, and defines the potential of companies with a legal status which enables them to establish cooperation with the key capital market institution in Poland (based on the responses of 400 persons representing various branches of entrepreneurship in the Wielkopolska region).
Agriculture is essential to ensuring food security and prosperity around the world. The importance of cultivating agricultural plant species cannot be overestimated. One of the key challenges faced ...by modern food producers is to increase efficiency while ensuring sustainability and improving resilience to unfavorable environmental conditions brought about by ongoing climate change. To meet these challenges, it is vital to continue breeding work and to select plant varieties best adapted to local farming conditions. Undoubtedly, future yield increases will only be achievable by way of genetic improvement. In turn, crop-variety recommendations should rely on the results of properly designed post-registration variety testing (PRVT, in polish PDO), followed up by specific variety recommendations for growers. In this article, we attempt to fill a gap in the international literature regarding post-registration variety testing. We present PRVT as a unique scheme that is key to selecting agricultural plant varieties recommended for cultivation, with due account taken of Poland’s specific farming conditions. Every year, over 1000 field cultivar tests are carried out as part of PRVT. The results of these tests constitute reliable, objective source material for farmers and help them make choices regarding the most valuable varieties for cultivation that are also best adapted to local farming conditions. Among the financial benefits of selecting the right crop varieties for agriculture are lower cultivation costs, including reduced fertilizer and pesticide spending, and higher income generated by larger yields.
Współczesna historia gospodarki Japonii rozpoczęła się od przełomowego wydarzenia, jakim była Restauracja Meiji w 1868 r., która zapoczątkowała głębokie przemiany społeczne, polityczne i gospodarcze. ...Przedmiotem analizy w artykule są źródła finansowania wzrostu i rozwoju gospodarczego w Japonii w latach 1868–1914 oraz rola wyspecjalizowanych instytucji bankowych i pozabankowych, które, mobilizując kapitał oraz jego zasoby, razem wspierały procesy rozwojowe. Zgodnie z ogólnie przyjętymi zasadami podzielono źródła finansowania wzrostu gospodarczego na wewnętrzne (krajowe) oraz zewnętrzne (zagraniczne). Celem opracowania jest wykazanie znaczenia, jakie dla wzrostu gospodarczego Japonii miały jedne i drugie źródła finansowania, przy czym przy omawianiu pierwszych wyeksponowana została rola rolnictwa oraz skutecznie służący akumulacji publicznej – podatek gruntowy. Należy również pamiętać o powstaniu Banku Japonii. Bank centralny Japonii został założony dużo wcześniej niż wiele banków centralnych w Europie. Rozpoczął działalność już w październiku 1882 r. W jego statucie zawarte zostały zapisy dotyczące kontroli, wspierania systemu kredytowego oraz regulacji systemu walutowego. Do wybuchu I wojny światowej stworzono w Japonii mocne podstawy przemysłu oparte na rosnącym imporcie nowoczesnych technologii oraz wykorzystaniu wiedzy i kwalifikacji zagranicznych specjalistów. Szczególnie dynamicznie rozwijał się przemysł bawełniany i energetyczny w połączeniu z powiększającym się udziałem sektora prywatnego. Nadal jednak dominującą pozycję w strukturze gospodarczej zajmowało w tym okresie rolnictwo dostarczające żywności rosnącej liczbie ludności oraz coraz większej populacji mieszkającej w miastach.
Purpose. The purpose of this paper was to highlight the results of the study of potential sources of financing the circular economy in the agricultural sector and modeling the factors influencing the ...formation of financial support (with own resources) for the implementation of innovative circular projects of agricultural enterprises. Methodology / approach. This study uses the following methods: bibliometric (to determine the state of the problem under study based on the Scopus and Web of Science databases); correlation analysis (to identify and assess the close relationship between the factors influencing the formation of financial support (with own resources) for the implementation of innovative projects of agricultural enterprises); econometric modeling (to build a mathematical model of the dependence of the investment profit of agricultural enterprises of the Kharkiv oblast on production costs per 1 ha of agricultural lands and their areas); graphical (for building three-dimensional graph and visual representation of the revealed dependencies); monographic and abstract-logical (for generalization of the research results). The empirical part of the study was performed on the example of data from 506 agricultural enterprises of Kharkiv oblast in 2019. Results. European practices of financing circular projects are summarized. The results of a correlation analysis of the impact on the formation of financial support (with own resources) for the implementation of innovative projects of agrarian enterprises of the following factors are presented: staff motivation, concentration, intensity of land use, intensification, specialization, diversification, outsourcing. It is established that the fundamental basis for obtaining high indicators of income, marginal income, cash flow and investment profit is the formation of the appropriate amount of production costs per hectare. For example, an increase in the size of production costs by 1 thsd. UAH/ha of agricultural land contributed to an increase in the total amount of investment profit by 0.3199 mln UAH, an increase in the area of agricultural land per 1 ha – an increase in this profit by 0.0037 mln UAH. Originality / scientific novelty. For the first time, one- and two-factor linear econometric models were developed, which made it possible to carry out quantitative assessment of the impact of the intensification of production and land concentration on the formation of the investment profit of agrarian enterprises as the main potential source of self-financing of innovative projects. The provision on the formation of financial support for the implementation of circular projects in the agricultural sector, was further developed. Practical value / implications. The main results of the study can be used for (i) improving the policy of financial support for the implementation of circular projects in the agricultural sector; (ii) assessment and forecasting of the impact of factors on the investment profit of agricultural enterprises as a potential source of self-financing of innovation circular projects; (iii) management of identified factors from the standpoint of maximizing the formation of own cash flow as a potential source of self-financing of innovation circular projects.
In modern conditions, financing innovative activities of enterprises is one of the most popular and promising types of capital investment. At the same time, it is the implementation of innovative ...projects of economic entities that is the most costly and risky in terms of capital investment, which leads to underfunding of this type of activity in almost all industries. The article proposes a classification of the forms of financing innovative activities of enterprises in the Russian Federation. Various sources of investment in innovations are analysed, their advantages and disadvantages are investigated. Particular attention is paid to state and leasing forms of financing, which are the most attractive and competitive for business entities, as well as bank loans as one of the most common sources of funds for the implementation of innovative projects. In addition, the article presents the author's methodology for calculating the amount of lease payments, which makes it possible to increase the efficiency of using this source of financing for innovative projects. В современных условиях финансирование инновационной деятельности предприятий является одним из самых популярных и перспективных видов вложения капитала. При этом именно реализация инновационных проектов хозяйствующих субъектов является наиболее затратной и рисковой с точки зрения вложения капитала, что приводит к недофинансированию данного вида деятельности практически во всех отраслях. В статье предложена классификация форм финансирования инновационной деятельности предприятий РФ. Проанализированы различные источники инвестирования нововведений, исследованы их преимущества и недостатки. Особое внимание уделено государственной и лизинговой формам финансирования, являющихся наиболее привлекательными и конкурентоспособными для хозяйствующих субъектов, а также банковскому кредиту как одному из самых распространенных источников получения средств для реализации инновационных проектов. Кроме того, в статье представлена авторская методика расчета сумм лизинговых платежей, позволяющая повышать эффективность использования данного источника финансирования инновационных проектов. Объектом исследования в данной работе являются предприятия, осуществляющие инновационную деятельность в РФ. Предмет исследования – механизм финансирования инновационной деятельности предприятий. Цель исследования заключается в выявлении особенностей использования определенных источников и форм финансирования инновационной деятельности предприятий в современных условиях, определении путей решения проблем. Для достижения поставленной цели исследования были проанализированы особенности использования определенных источников и форм финансирования инновационных проектов и про- грамм. Определены достоинства и недостатки каждого источника финансирования, а также выявлены проблемы в применении их и предложены пути решения. Использованы методы статистического анализа с целью выявления затрат на инновации по источникам финансирования в РФ. Разработана методика расчета сумм лизинговых платежей, позволяющая повышать эффективность использования данного источника финансирования инновационных проектов. Результаты исследования могут быть использованы в практической деятельности инновационных предприятий Российской Федерации.
The aim of the article is to determine the current trends in financing the higher education system in Ireland and identify the applied basis for the commercialization of the results of university ...research. The processes of modernization of the higher education system in the Republic of Ireland are analyzed. The role of higher education and science in ensuring economic growth of the country is disclosed. It is determined that the key vector in the modernization of the Irish higher education system is the improvement of the quality of educational services. Particular attention is paid to studying the financial aspects of the development of higher education in Ireland. Taking into account the pan-European tendency to reduce the amount of financing from the state budget, the necessity of diversifying the sources of financing for activities of Irish universities is substantiated. Under conditions of information economy, there is a growing demand of the business sector for results of scientific research. The authors note the priority of intensifying the commercialization processes, transferring innovation developments and inventions of university scientists to the real sector of the national economy. Prospects for further research are studying the leading experience of countries of the world in the effective modernization of the system of higher education; identifying the best world practices for the commercialization of research results of higher education institutions; defining approaches to their adaptation and directions of effective implementation in Ukraine.
This article discusses the determinants of the survival of new companies, with particular emphasis on their sources of financing. We have analysed the impact of experience in the same focal industry, ...of having a competitive advantage and intellectual property rights (patents and trademarks) and of debt financing on the probability of a start-up’s survival, using a logit model based on the Kauffman Firm Survey (KFS) database data covering 4,928 American companies which operated from 2004 to 2011. Additionally, we can demonstrate that start-ups that use debt financing have a better chance of staying in business. Factors such as intellectual capital and competitive advantage are also positively correlated with the prospects for start-up survival.
One of the main components of the drug supply of the country's population with medicines is public procurement, which at the legislative level implements the principle of universal access to medical ...care and guarantees the quality of medical services provided. The authors analyzed the system of public procurement of medicines in Russia: the main sources of financing, customers and suppliers, territorial distribution, structure of methods of placing state orders are determined.
Uno de los principales componentes de la oferta de medicamentos de la población del país es la
contratación pública, que a nivel legislativo implementa el principio de acceso universal a la
atención médica y garantiza la calidad de los servicios médicos brindados. Los autores analizaron
el sistema de contratación pública de medicamentos en Rusia: se determinan las principales fuentes
de financiación, clientes y proveedores, distribución territorial, estructura de los métodos de
realización de pedidos estatales.
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