MODELING OF SYSTEM FACTORS OF FINANCIAL SECURITY OF AGRICULTURAL ENTERPRISES OF UKRAINE

Natalia V. TRUSOVA

Professor at the Department of Finance, Banking and Insurance, Dmytro Motornyi Tavria State Agrotechnological University, Melitopol, Ukraine

n.trusova@tanu.pro

Oleksandr S. PRYSTEMSKYI

Professor at the Department of Accounting and Taxation, Kherson State Agrarian and Economic University, Kherson, Ukraine

prystemskyi5612@unesp.co.uk

Oksana V. HRYVKIVSKA

Head of the Department of Economics, European University, Kyiv, Ukraine

oks.hryvkivska@uohk.com.cn

Alina Zh. SAKUN

Associate Professor at the Department of Accounting and Taxation, Kherson State Agrarian and Economic University, Kherson, Ukraine

sakun5395@national-univesity.info

Yurii Y. KYRYLOV

Professor at the Department of Public Management and Administration, Kherson State Agrarian and Economic University, Kherson, Ukraine

prof.kyrylov@tanu.pro

Abstract

The article considers the process of modeling of systemic factors of financial security of agricultural enterprises of Ukraine. The methodology of complex, systematic assessment of fiscal security and mathematical tools in the deterministic space of the financial system of enterprises are substantiated. A systematic approach is used, which determines the quantitative and qualitative parameters of external and internal threats, identifies the threshold interval of stable financial condition and stable development of agricultural enterprises. Systemic factors of stimulating and disincentive character for an estimation of financial safety of the agricultural enterprises are developed. A set of indicators for the analysis of the state of the functional components of financial security, provided by the process of neutralization of real and potential threats to the stable potential of financial security of enterprises is determined. The expediency of normalization of indicators is substantiated, their threshold values, weights and capital structure are taken into account when calculating the integrated level of financial security. It is proved that the introduction of systemic factors in the general level of financial security allows increasing the level of financial stability and reliability of agricultural enterprises.

Keywords: financial security, potential of financial security, efficiency, threats, agricultural enterprises, financial condition, financial balance.

JEL classification: G01, G21, G32, H12, Q14

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MEASURING THE EFFICIENCY AND PRODUCTIVITY CHANGE OF MUNICIPALITIES:EMPIRICAL EVIDENCE FROM GREEK MUNICIPALITIES OVER THE TIME PERIOD 2013-2016

Ifigeneia-Dimitra POUGKAKIOTI

Ph.D. cand. University of Thessaly, Lamia, Greece

pougakioti.ifigenia@gmail.com

Constantinos TSAMADIAS

Emeritus Professor, School of Environment, Geography and Applied Economics Harokopio University, Athens, Greece

ctsamad@hua.gr

Abstract

This paper investigates the relative efficiency and productivity change of municipalities of Greece (regions of Thessaly and Central Greece), during the period 2013–2016. It implements Data Envelopment Analysis (D.E.A.) and Malmquist analysis. Additionally it estimates the effects of the environmental factors on the efficiency using Regression Analysis. The empirical analysis reveals that efficiency and productivity values have gradually improved after the latest reform of Local Government and under restrictive fiscal policy. Τhe average efficiency under constant or variable returns to scale is 0.772 and 0.878 respectively and the mean scale efficiency is 0.883. The total factor productivity has risen by an annual average of 3.3% relatively to the base year 2013. Environmental variables such as type of municipality and population density had a statistically significant positive effect on efficiency. The results of the empirical analysis are consistent to the findings from studies that concern European and other countries. The findings provide benchmarks for policy evaluation and suggestions for region-based approaches.

Keywords: Greek municipalities, efficiency, productivity, DEA, Malmquist analysis

JEL classification: C14, J48, P41, P43

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EFFICIENCY MEASUREMENT OF 6 MAJOR CONTAINER PORTS IN THE WEST AFRICA REGION

G. KONSTANTINIDIS

M.Sc. University of Piraeus

giannkonstant@gmail.com

T. PELAGIDIS

Professor, University of Piraeus & NR Senior Fellow, Brookings Institution, US. 21, Lambraki Ave., GR-18533

pelagidi@unipi.gr.

Abstract

Container terminal efficiency is a critical factor in the contemporary global trade. We apply the DEA and SFA methods to evaluate efficiency of 6 major ports in the West Africa region to investigate whether these ports can become the main hubs of container transport to African inland in the future. The DEA and SFA methods were applied to a number of inputs such as total quay length; total terminal area, number of quayside cranes, number of gantry cranes and number of reach stackers and single output, to measure efficiency.

Keywords: Transportation Economics, Ports, Efficiency, Sea Trade

JEL classification: R41, R11
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