In the context of globalization, the transactions between business partners become more and more diverse and require special attention from commercial banks and factoring companies, both with regard ...to settlement, in order to avoid possible financial blockings, and with regard to the security and protection of the interests of parties, by using funding techniques, specific products and services. Factoring provides companies the possibility of funding based on trading receivables received from third parties. The aim of the article is to shed light on the accounting and tax approach of this funding technique that, although it has lots of advantages, is too little known and employed in the Romanian business environment.
With quantum computers of significant size now on the horizon, we should understand how to best exploit their initially limited abilities. To this end, we aim to identify a practical problem that is ...beyond the reach of current classical computers, but that requires the fewest resources for a quantum computer. We consider quantum simulation of spin systems, which could be applied to understand condensed matter phenomena. We synthesize explicit circuits for three leading quantum simulation algorithms, using diverse techniques to tighten error bounds and optimize circuit implementations. Quantum signal processing appears to be preferred among algorithms with rigorous performance guarantees, whereas higher-order product formulas prevail if empirical error estimates suffice. Our circuits are orders of magnitude smaller than those for the simplest classically infeasible instances of factoring and quantum chemistry, bringing practical quantum computation closer to reality.
Abstract
In this paper, design of high speed and area efficient finite field multiplier using factoring technique for communication is implemented. Data security plays very important role in present ...generation. Therefore, initially inputs and key are given to S-Box. The main intent of S-Box is to substitute the input data and key. After that input data and key are merged using S-Box merge. This data will be multiplied using finite field multiplier and to improve the performance along with that mix column technique is applied. Factoring technique will increase the speed of operation. After the data performs shift row operation. At last rounding is performed to the obtained data. At last simulation results shows that effective outcome in terms of delay, memory and security.
This study investigates the efficacy of zero‐interest early payment financing (alternatively referred to as early payment) and positive‐interest in‐house factoring financing in a pull supply chain ...with a capital‐constrained manufacturer selling a product through a capital‐abundant retailer. Early payment is the prepayment of a wholesale cost to the manufacturer, whereas in‐house factoring is a loan service provided to the manufacturer by a branch financing firm of the same retailer. We find that the retailer prefers early payment financing to bank financing when the manufacturer’s production cost is low. If the retailer instead offers positive‐interest in‐house factoring financing to the manufacturer, then the financing equilibrium domain enlarges as compared to bank financing. Interestingly, early payment financing can outplay positive‐interest in‐house factoring financing if the production cost is considerably low; otherwise, vice versa. When the production cost is big enough, the retailer will not provide either early payment or in‐house factoring. Furthermore, our main qualitative result sustains with an identical wholesale price across all three financing schemes and the financing equilibrium domain of early payment shrinks as demand variability grows.
Factoring has been a popular method of financing of companies in India. Since its inception, factoring business has made a significant progress in India. The total factoring volume has increased in ...the past nine years. Yet it is found that in its present improved format, factoring is still not the preferred solution for most of the Indian Companies. But around the world, factoring is a popular option to access working capital in the case of small or even large businesses, among eleven companies, which are providing the factoring business in India, only State Bank of India Global Factors Limited (SBIGFL) is providing domestic as well as International Factoring services under one roof. S BIGFL is a member of Factors Chain International (FCI), an Umbrella Organization of worldwide factoring companies. The aim of this study is to know the concept of factoring and the products, services, role of the SBIGFL in the factoring business in India._
PurposeAs a popular supply chain finance (SCF) strategy, reverse factoring has been widely adopted by buyer firms. However, the extant literature provides scant empirical evidence on the performance ...effect of reverse factoring. The purpose of this study is to seek to narrow this gap by empirically examining the relationship between reverse factoring and operating performance and the contingency conditions of this relationship.Design/methodology/approachBased on a sample of 167 announcements of reverse factoring implementation made by publicly listed Chinese manufacturing firms between 2014 and 2018, this paper employs a long-term event study approach to analyze the operating performance effect of reverse factoring as well as the moderating effects of production and innovation capabilities.FindingsThe event study results indicate that reverse factoring has a positive effect on buyer firms' operating performance in terms of cost efficiency and operating margin. In addition, both production and innovation capabilities positively moderate the relationship between reverse factoring and operating margin. However, neither of them moderates the relationship between reverse factoring and cost efficiency.Originality/valueThis is the first study that empirically examines the impact of reverse factoring on operating performance based on secondary data. Furthermore, it sheds light on the SCF literature by providing insights into the contingency effects of production and innovation capabilities, which also extends our understanding of the application of extended resource-based view in SCF research.
A model category has two weak factorizations, a pair of cofibrations and trivial fibrations and a pair of trivial cofibrations and fibrations. Then the class of weak equivalences is the set W ...consisting of the morphisms that can be decomposed into trivial cofibrations followed by trivial fibrations. One can build a model category out of such two weak factorizations by defining the class of weak equivalences by W as long as it satisfies the two out of three property. In this note we show that given a category with two weak factorizations, if every object is fibrant and cofibrant, W satisfies the two out of three property if and only if W is closed under the homotopies.
•We analyzed over 33,000 financial operations involving an Italian factoring company.•We present network construction techniques based on different risk factors.•Social network metrics are an ...important addition to anti-money laundering.•Cluster analysis on tacit link networks can help identify suspicious actors.•Our models and metrics are easy to replicate and to integrate into existing systems.
This research explores the opportunities for the application of network analytic techniques to prevent money laundering. We worked on real world data by analyzing the central database of a factoring company, mainly operating in Italy, over a period of 19 months. This database contained the financial operations linked to the factoring business, together with other useful information about the company clients.
We propose a new approach to sort and map relational data and present predictive models – based on network metrics – to assess risk profiles of clients involved in the factoring business. We find that risk profiles can be predicted by using social network metrics. In our dataset, the most dangerous social actors deal with bigger or more frequent financial operations; they are more peripheral in the transactions network; they mediate transactions across different economic sectors and operate in riskier countries or Italian regions. Finally, to spot potential clusters of criminals, we propose a visual analysis of the tacit links existing among different companies who share the same owner or representative. Our findings show the importance of using a network-based approach when looking for suspicious financial operations and potential criminals.
The uncertainty and financial instability that has plagued companies and industries in the last decade is one of the root causes behind the development of Supply Chain Finance (SCF), a set of schemes ...aiming to optimise the management of financial flows at the supply chain level. Recent years have seen a proliferation of different SCF schemes, with different impacts on working capital costs and requirements throughout the supply chain. The practicality of SCF usage indicates that the concurrent adoption of multiple schemes is not only possible, but even likely. However, literature on SCF still focuses on individual SCF schemes, while the concurrent adoption of multiple SCF schemes remains largely unaddressed. Thus, the objective of this paper is to assess the tangible benefits deriving from a multi-scheme SCF strategy. Based on the analytical formulation of the benefits of three relevant SCF schemes (Reverse Factoring, Inventory Financing and Dynamic Discounting), the paper formalises a model that investigates the benefits that a buyer can achieve by onboarding suppliers onto these three schemes. The results show how working capital requirements and the cost of finance represent the key parameters to assessing the benefits of the concurrent adoption of multiple SCF schemes. Moreover, the funding limits of the SCF schemes themselves strongly affect the relevance of such strategies; strict limits will increase the relevance of having ‘alternative’ schemes available to onboard suppliers. To highlight the managerial relevance of the model, the article provides a numerical example based on a real-world application.
•Concurrent adoption of multiple Supply Chain Finance schemes is becoming common among practitioners.•Concurrent adoption of multiple SCF scheme has potential to lead to higher overall tangible benefits for the adopting buyer.•Parameters affecting such benefits are working capital costs and requirements within the supply base, as well as scheme-dependent funding limits.
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