The COVID-19 crisis caused profound disruptions in the global economy, with SMEs and entrepreneurs, particularly hard hit. Swift measures implemented by governments and public financial institutions ...provided a crucial lifeline for liquidity-strapped SMEs.The 10th edition of Financing SMEs and Entrepreneurs 2022: An OECD Scoreboard sheds light on the impacts of the crisis on SME finance, tracking the latest developments in debt, equity, asset-based finance, and framework conditions, along with recent policy developments for 48 countries around the world.
This open access book focuses on the ‘downstream’ element of PFM, that is how public organisations utilise public resources. It argues that improvements in PFM/IC will only flow from a recognition ...that what really matters is the quality of management. Management reform is an essential precondition to the successful implementation of many new techniques. Only when a managerial capacity exists willing to take advantage of the opportunities created by such technical developments, is it beneficial to pursue them. The benefits of PFM/IC flow from an improved quality of management. Despite enormous efforts, reform of public financial management and internal control (PFM/IC) in developing and transition economy countries has not been particularly successful in improving the quality of public service delivery and the use of public resources. This book outlines why this is and suggests a new approach. The analysis set out in this book is particularly relevant especially given limited national budgets and squeezed international aid budgets. These management changes include to the political/official relationships, to management structures, to budgetary and accounting arrangements and to the relationships between, particularly, the ministry of finance and other ministries. They require the delegation of operational management, developments in financial management and in accountability arrangements and a reconsideration of personnel policies, penalty and sanction arrangements. Managerial training for the civil service will be a key requirement. Reform may impact upon traditional cultural practices. These changes are all inter-related and should be coordinated.
Small and medium-sized enterprises (SMEs) that scale up have long raised policy interest for their extraordinary potential in terms of job creation, innovation, competitiveness and economic growth. ...Yet, little is known about which firms could effectively become scalers, and what policies could effectively promote SME growth.
As empresas enfrentam desafios constantes com a gestão financeira quando buscam o alcance de seus objetivos organizacionais e se deparam com a inadimplência que vem crescendo nos últimos anos. Dessa ...forma, a pesquisa buscou analisar como a inadimplência afeta a gestão financeira de uma ótica no Alto Oeste Potiguar. Para tanto, desenvolveu-se um estudo de campo, de caráter descritivo, com abordagem quali-quanti, e a coleta de dados se deu mediante pesquisa documental, realizada no sistema de gestão da empresa e por meio de entrevista com dois gestores. Os dados quantitativos foram analisados através da estatística descritiva e os qualitativos pela análise de discurso. A partir dos dados analisados, constatou-se que o índice de inadimplência afeta a situação financeira da organização, dificultando o crescimento da empresa visto que impossibilita investimentos no negócio. Conclui-se, portanto, que, quando não há um controle da inadimplência, os efeitos podem prejudicar toda a empresa uma vez que o risco é constante de perda financeira por se tratar de vendas sem retorno.
PurposeThe purpose of this paper is to investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences. By ...analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized, and agenda for future research is suggested. A framework is presented that portrays PFMB's antecedents and consequences and further specification of the mediation and moderation linkages.Design/methodology/approachThe review is based on 160 articles published during 1970–2020. It follows a systematic approach and presents the definitions and theories of PFMB, publication trends based on time, region, sample population, research designs, data collection and analysis techniques, along with antecedents and outcomes through content analysis.FindingsThe synthesis draws upon various factors affecting PFMB, such as demographics, socio-economic, psychological, social, cultural, financial experience, financial literacy (FL) and technological factors. The prominent outcomes of PFMB include financial satisfaction, relationship satisfaction, quality of life, financial success, happiness, financial vulnerability/resilience and financial well-being. The future research agenda sums up the recommendations in the form of research questions on variables and their linkages, followed by methodological advancements.Originality/valueThis paper covers the scholarly work done in this area in the past 51 years. To the best of authors' knowledge, this is the first attempt to offer a most comprehensive and collective scholarship of this subject. It further gives an extensive future research agenda.
In the run-up to the recent financial crisis, an increasingly elaborate set of financial instruments emerged, intended to optimize returns to individual institutions with seemingly minimal risk. ...Essentially no attention was given to their possible effects on the stability of the system as a whole. Drawing analogies with the dynamics of ecological food webs and with networks within which infectious diseases spread, we explore the interplay between complexity and stability in deliberately simplified models of financial networks. We suggest some policy lessons that can be drawn from such models, with the explicit aim of minimizing systemic risk.
The utilization of Islamic social finance instruments is far behind what is expected. To realize its full potential, Islamic social finance instruments must be integrated. This study examined ...solutions and priority strategies for integrating sustainable Islamic social finance that could be implemented in the short and long term using the Benefit, Opportunity, Cost, and Risk (BOCR) framework, which includes six aspects: Governance, sustainable financing, institutional aspect, human resources, regulations, and supporting technology. This qualitative research employed the Analytic Network Process (ANP) method using the benefit, opportunity, cost, and risk analysis. The data were obtained mainly through focus group discussions and in-depth interviews with respondents among academics, practitioners, associations, regulators, and community leaders. The respondents were selected for their expertise and experience in the selected topic. The data were processed using the Microsoft Excel and Super Decision software. There are several findings worth considering from the analysis. First, the highest priority in integrating Islamic social finance aspects are human resources (0.97), regulation (0.86), and technology (0.76). Second, based on the short- and long-term analysis, financial integration through sustainable financing (0.01 and 1.44, respectively) and improving human resource quality through certification and training (0.01 and 1.56, respectively) is a priority solution and strategy to integrate sustainable Islamic social finance. Meanwhile, according to expert judgments, integrating national data (0.24) and optimizing technology use (0.18) are priority solutions and strategies. The findings emphasize the critical role of improving human resource quality to utilize technology, with experts identifying a national data integration as the most critical solution. As a result, relevant stakeholders are concerned about technology management training for Islamic philanthropic managers, with the goal of maximizing the potential of technology's growing role and adoption.
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