Oblik i finansi最新文献

{"title":"Stock Market Price Effect of the Silicon Valley Bank Failure – A Pre and Within Analysis","authors":"C. Ngwakwe","doi":"10.33146/2307-9878-2023-2(100)-75-82","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-2(100)-75-82","url":null,"abstract":"State-chartered commercial bank – Silicon Valley Bank (SVB) was the primary subsidiary of SVB Financial Group. In March 2023, after central bank–endorsed interest rate hikes during the 2021–2023 inflation surge, there was a bank run on its deposits, which led to its collapse. This marked the third-largest bank failure in U.S. history and took place alongside the March 2023 United States bank failures. This paper evaluated the differential effect of Silicon Valley Bank failure on the stock market. Two objectives were pivotal, namely the examination of differential stock price performance of SVB prior to failure. Secondly is the examination of the differential effect of SVB failure on the US S&P500 stock price performance. Applying a t-test statistics for difference in means, the results show a significant difference in mean stock price of SVB between a month and two weeks period before SVB failure at P<0.05, with higher variance within the week before failure. Furthermore, the t-test results disclose a highly significant difference in US S&P500 mean stock price between February 2023 (a month before failure) and March 2023 (within the month of failure) at P<0.001 with a high variance in March; however, this effect did not last long. Accordingly, the paper concludes that the failure of a prominent financial institution may trigger ripples in a major stock market index. Additionally, investors should be cautious of an unprecedent and abnormal higher variance in a corporate stock price as this might be an ominous indicator of potential financial failure. This paper contributes a current information for managers and particularly for speculative investors for decisions on selling short or long. It recommends further research to examine the effect of SVB failure and FDIC intervention on stock markets.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"71 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85138435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Influences to Financial Leverage in Listed Construction Firms in Vietnam? The Role of Asset Tangibility and Growth Opportunities","authors":"Pham Tien Manh","doi":"10.33146/2307-9878-2023-2(100)-68-74","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-2(100)-68-74","url":null,"abstract":"Investment projects in the construction industry usually require a large amount of capital. Most businesses need more capital to implement the investment project; therefore, they use borrowed capital and mobilise capital from investors. Understanding the determinants of excessively low or high leverage among construction companies provides essential information in identifying these companies' financial strategies. This research observes the sample of 53 listed construction entities on the Hanoi Stock Exchange (HNX) in Vietnam, with the 2018-2022 period, to find out what factors impact financial leverage. Statistical data is collected and aggregated from enterprises' audited consolidated financial statements. The author uses financial leverage as a dependent variable, while independent variables include asset tangibility, growth opportunities, profitability, liquidity, firm size and firm age. In addition, GDP and inflation rate are considered as control variables. The author uses OLS, FEM, REM and GLS models, modified Wald test and Wooldridge test to determine the relationship between independent and dependent variables. The research results show that asset tangibility, profitability, liquidity and firm size are statistically significant in explaining the firm's financial leverage change. In contrast, other variables such as growth opportunities, firm age, GDP and inflation were not correlated with the dependence variables. In particular, asset tangibility is the most significant determinant for financial leverage, which means those charged with governance of construction firms should consider carefully before deciding to acquire fixed assets. Based on research findings, the author suggests recommendations for managing financial leverage in construction companies in Vietnam. However, the results of this study will also be helpful for construction companies in other countries.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"77 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79448262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Entrepreneurial Risk: Essence and Classification Depending on the Losses Borne by the Entrepreneur","authors":"I. Abernikhina","doi":"10.33146/2307-9878-2023-2(100)-122-130","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-2(100)-122-130","url":null,"abstract":"In conditions of high competition and variability of economic conditions, timely insurance of business risks can help the enterprise to preserve its financial resources and ensure stability and security in the market. The article aims to systematize business risks by groups of losses and generalize and characterize the types of insurance policies that can be useful to the enterprise due to their manifestations. It was found that entrepreneurial risk in economic activity is a generalizing term for a group of risks that arise at various stages of the capital cycle as a result of the actions of the enterprise itself, competitors, counterparties, changes in the market situation, technological failures and other internal and external factors. Types of business risks are systematized. Four main groups of enterprise losses due to business risks were identified, with the selection of types of insurance policies that can be useful for enterprises in case of corresponding losses. Different conditions for insurance against cyber threats and liability for environmental damage in Ukraine were disclosed under four main costs depending on the type of damage subject to compensation. The results of the study show that business risk is a complex category that covers various aspects of business activity, protection against which occurs mainly within the scope of property insurance and liability insurance, but at the same time can go beyond these fields of insurance, if it is determined by the needs of business activity Business risk includes financial risks, such as market instability, changes in the economic environment, exchange rate fluctuations, rising costs, insufficient financial resources. It also covers operational risks related to business management, including supply chain issues, staffing issues, technology failures, legal conflicts, and more.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89918238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Normative and Legal Regulation for Integrated Reporting","authors":"N. Shevchuk","doi":"10.33146/2307-9878-2023-1(99)-56-67","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-1(99)-56-67","url":null,"abstract":"In order to make management decisions to ensure the sustainable development of the enterprise, appropriate accounting support is required, an important element of which is integrated reporting. Since 2018, medium and large agricultural enterprises in Ukraine have been required to prepare a Management Report. In practice, during the preparation of this report, questions still arise because the information requirements for this element of integrated reporting grow every year. The article aims to analyze the legal regulation of the formation of integrated reporting by agricultural enterprises and identify problems related to the preparation of integrated reporting in Ukraine. The regulatory and legal regulation structure of financial and non-financial indicators of integrated reporting in Ukraine was disclosed. An analysis of indicators that must be disclosed in integrated reporting has been carried out. It has been established that the appearance of a mandatory, independent Management Report in Ukraine results from the implementation of EU Directives. The Management Report is intended to supplement financial reporting with non-financial information that characterizes the state and prospects of the enterprise's development, reflecting its activity's main risks and uncertainties. At present, a precise mechanism for the publication of non-financial statements is not defined by law, and responsibility for the completeness and reliability of the published information in non-financial statements is not provided. At the same time, Ukrainian enterprises are gradually joining the practice of compiling integrated reporting and placing it freely available on their websites. This study will help enterprises better understand the requirements governing the preparation and publication process of integrated reporting, particularly the Management Report.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"42 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83963967","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Students’ Perceptions of Management Accounting and the Accounting Profession","authors":"Mithaq Mahmood Al Kharousi, Bedoor Nasser Al Shukaili, M. M. Thottoli","doi":"10.33146/2307-9878-2023-2(100)-5-15","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-2(100)-5-15","url":null,"abstract":"Purpose: Strategic Management accounting includes activity-based costing, target costing, the balanced scorecard, Kaizen costing, throughput costing, and other new management accounting approaches. Management accounting reviews changes in performance measurement of information requirements and the use of novel communication, including management information system reports, forms, channels, and the implications of varying organizational structures to aid the management accounting professionals in a new environment. Hence this paper aims to know Students’ perceptions of management accounting (course and field) and the accounting profession. Design/Methodology/Approach: The data for this study were collected using a quantitative approach. The researchers created a questionnaire with questions delivered over Google form to the students who study management accounting from various universities in Oman. Then the researchers analyzed the data using Partial least squares structural equation modeling (PLS-SEM) software. Findings: The result revealed that students’ perceptions of management accounting courses have a significant influence on the accounting profession where it was p<0.001, t=12.758, and student’s perception of the management accounting field also has a significant impact on the accounting profession where it was p<0.05, t=2.126. This result indicates that the Students' Perception of management accounting courses and students' perception of the management accounting field significantly impact the accounting profession. Recommendations: Improving management accounting curricula, providing faculty development programs, promoting industry collaboration and internships, providing career counselling, encouraging industry-relevant research, and cooperating with professional accounting bodies are especially important in higher education institutions' activities. With these methods, higher education institutions may guarantee that their students are given practical training, match their academic programs to market demands, and increase their employability in accounting.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"34 8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76265038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Banking Services Market from the Standpoint of Modern Science and Legislation","authors":"Edvard Shіrіnіan, Lada Shіrіnyan","doi":"10.33146/2307-9878-2023-2(100)-111-121","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-2(100)-111-121","url":null,"abstract":"Curricula for the speciality 072 “Finance, banking, insurance and the stock market” must be regularly updated to cover changes in current legislation and reflect the transformations of the ever-evolving banking services market. This process directly affects the quality of educational training of students – future specialists and, therefore, should be the focus of attention of scientists and educators. The article aims to reveal and improve the essence of the concept of the “market of banking services” and formulation of the generalized concept of the “market of banking services and banking metals”, considering the realities of today and legislative changes in the banking sphere. The methodological basis of the research is a systematic approach using comparative analysis, induction, deduction and generalization. The article is conditionally divided into three parts: in the first part, a review of the legislation on the definition of banking services was carried out; the second part is devoted to the analysis of banking services market participants; in the last part, a critical review of the approaches of other researchers was carried out, and new definitions of basic concepts were proposed. It was found that legislative changes regarding the composition of participants and the structure of the banking services market of Ukraine have not been fully covered and considered in the professional literature. Systematized and expanded the range of participants in the market of banking services of Ukraine, taking into account the realities of today. According to the text of the General Agreement on Trade in Services, the list of banking services is provided, and the need for implementation into Ukrainian banking legislation was argued. The definition of the concept of “banking services market” was proposed, which takes into account the behaviour and interaction of sellers and buyers of banking services, other market participants, demand and supply for banking services and metals, bank money, pricing through interest rates and commissions for carrying out banking operations.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"122 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79398044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financial Monitoring of the Accounting Services Sector According to International Standards: A New Challenge for the Accountant","authors":"N. Vnukova, S. Ostapchuk","doi":"10.33146/2307-9878-2023-1(99)-17-25","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-1(99)-17-25","url":null,"abstract":"The growing risks of financing terrorism in the conditions of martial law necessitates the strengthening of financial monitoring. Accountants, business entities providing accounting services, and their related entities of audit activities are among the specially defined subjects of primary financial monitoring. Determining the level of riskiness of financial transactions is an essential function of an accountant. It, therefore, requires measures to increase the general and special competence of accounting specialists in financial monitoring. The article aims to determine the approaches and directions of regulatory and methodical support of financial monitoring of accountants as specially defined subjects following international standards. The requirements of FATF international standards and the national regulation system of specially defined professions regarding the fulfillment of financial monitoring requirements were analyzed. Special attention is paid to studying the risk-oriented approach in the financial monitoring system. A comparison was made of the results of sectoral risk assessments regarding the use by subjects of primary financial monitoring for money laundering according to the National risk assessments. The dynamics of the number of individual entrepreneurs who provide accounting services and are registered with the State Financial Monitoring Service of Ukraine were evaluated. With the help of the Google Trends search tool, the results of national risk assessments and the level of interest in financial monitoring carried out by accountants in different countries were evaluated. An example of a risk matrix of client-accounting service combinations was presented, which can be developed based on a risk analysis of the experience and activities of an individual accountant. It was noted that the dilemma of the choice of accountants between the interests of the client and the requirements of financial monitoring is related to the professional judgment of accounting specialists and their increased functional responsibility within the limits of current legislation and international standards.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"36 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84868301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Evolution of Management Accountants’ Digital Skills in Industry 4.0: A Qualitative Approach","authors":"S. Rîndașu, I. Topor, Liliana Ionescu-Feleagă","doi":"10.33146/2307-9878-2023-1(99)-38-48","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-1(99)-38-48","url":null,"abstract":"The Fourth Industrial Revolution generated changes not only in the accounting and financial activities and processes but also in the set of digital competencies that management accountants must demonstrate. This paper aims to examine the impact of digitalisation in managerial accounting in terms of the changes generated in the set of digital skills. By wielding an inductive cross-sectional qualitative approach, we examined longitudinally and comparatively the evolution of the curricula in the last decade, defined by two widely recognised qualifications provided by the most important international professional bodies in managerial accounting – the Chartered Institute of Management Accountants (CIMA) and the Institute of Management Accountants (IMA). The research’s findings highlight that currently, the digital competencies management accountants should demonstrate are focused on both technologies already widely adopted by the business environment, such as cloud computing, big data, and data analytics, but also on emerging technologies, such as artificial intelligence, machine learning, blockchain, and Internet of Things. Even though at the beginning of the analysed period, the set of digital competencies was relatively narrow, once most industries started navigating Industry 4.0, it extended, thus allowing management accountants to continue providing valuable information and embrace the new role of advisors. These results emphasise the changing role of the management accountant through the lens of digitalisation, providing valuable insights for practitioners and universities regarding the importance of an adequate set of competencies vital in a highly digitalised profession.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"162 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76759578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Accountant’s Professional Judgment in the Implementation of Accounting Tasks","authors":"O. Sherstiuk","doi":"10.33146/2307-9878-2023-2(100)-47-53","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-2(100)-47-53","url":null,"abstract":"The implementation of accounting activities is carried out by accountants with a sufficient level of education and professional skills needed to solve the problems of registration, systematization, generalization and presentation of information based on generally accepted principles and assumptions. The methodological basis of such a solution is forming a set of professional judgments by an accountant. The accountant's professional judgment can be recognized as a way of communication between the enterprise and users regarding the content and results of its activities by the applied conceptual framework. This study aims to identify the role of the accountant's professional judgment and formalize its main elements. It was established that the accountant's professional judgment is the main element of implementing the accounting methodology. It was revealed that the main elements of the accountant's professional judgment are the purpose of its formation, the subject and expected application results. Their parameters are formed under the influence of external objective circumstances, among which the information needs of stakeholders, the nature of the enterprise's economic activity, its scope, as well as the judgment of specialists of the divisions that form the primary data are identified. A professional accountant assesses the impact of the specified circumstances on the purpose, subject and expected consequences of judgments based on his subjective understanding of the relevant data and his attitude to their characteristics. Such assessment is based on theoretical knowledge and experience of the practical work of a professional accountant. This determines the presence of a subjective component in forming, justifying and implementing the professional judgment. Thus, the combination of objective and subjective elements conditions the functioning of the mechanism of professional judgment in the context of providing interested persons with adequate information that can be used to achieve their goals.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"37 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81251917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Accounting of the Material Resources and Analysis of the Efficiency of Logistics Operations in Construction Industry","authors":"Mariia Gumenna-Derii","doi":"10.33146/2307-9878-2023-1(99)-130-134","DOIUrl":"https://doi.org/10.33146/2307-9878-2023-1(99)-130-134","url":null,"abstract":"In the construction industry, the most significant specific weight in the cost structure is the cost of material resources. Therefore, the urgent task of management is to find ways to reduce them to increase construction companies' income and investment attractiveness. The article aims to study the problems of accounting and analysis for material resources and the effectiveness of logistics operations in the construction industry. The state of construction and accounting conditions in this industry were studied. It was found that construction enterprises must ensure the preservation and proper control over the use of available storage materials, but to do this, it is necessary to have a well-established accounting of the availability, receipt and use of materials. This will enable construction enterprises to comply with the norms and standards of material consumption and not increase the amount of non-production costs. Logistics costs, financial resources and material flows are closely interconnected and interdependent, so a system analysis should precede management decisions regarding them. The primary purpose of the analysis is to identify potential reserves and search for ways to improve the logistics system. Practical analytical accounting of various groups of logistics operations can be achieved only when the chief accountant and all accountants of construction enterprise know and understand how the logistics system and its software work. Comprehensive automation in the spheres of production and transportation contributes to the reduction of logistics costs. However, their accounting, analysis and control still remain a decisive factor in the effectiveness of management in the construction industry.","PeriodicalId":33375,"journal":{"name":"Oblik i finansi","volume":"7 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81735112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}