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Journal articles on the topic 'Structured financing'
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1
Suták, Péter. "Structured commodity finance." Applied Studies in Agribusiness and Commerce 6, no. 5 (December 31, 2012): 77–83. http://dx.doi.org/10.19041/apstract/2012/5/13.
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Over the past years, the financial stock market – providing the capital demand that is the result of stockpiling and the characteristic strong seasonality observed in the agricultural sector – has increasingly grown and become more “used” by market participants. Its size had reached an annual value of 200 billion HUF, of which agricultural products had received the largest proportion through the various market participants (producers, integrators, traders, feed producers, mills). In the meantime, this market had become part of the competition between the commercial banks that are the largest financers of the sector, due to which the financing credit institutions had undertaken increasing risk levels, with respect to both degree of financing and the VAT financing related to stockholding. The practice of commodity financing by banks display a rather varied picture at present. Considering the exceptional degree of fall in prices and the actions of companies totally disregarding business ethics in 2008, it seems necessary to reveal the full scope of risks inherent in commodity financing. The primary aim of such an exercise is to ensure the prudent operation of refinancing activities for commercial banks. The inherent risks in trade financing – as has been proven by the experiences of previous years – are not found primarily in the goods themselves, but rather at the actual storage facility and also emerge in relation to clients, as well as the inadequate and ineffective risk management of price volatility by the financers. Therefore, the establishment of banking risk management and risk prevention techniques, including the development of new financing procedures become indispensable, minimizing all types of risks that had emerged in previous years.
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Kislitsyna, L. V., E. S. Krikun, and N. S. Suvorov. "Corporate financing as a special process. The role of microcredit in it is organization." Proceedings of the Voronezh State University of Engineering Technologies 80, no. 3 (December 17, 2018): 494–99. http://dx.doi.org/10.20914/2310-1202-2018-3-494-499.
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The operation of any company implies in practice the solution of a large number of issues, including the organization of the financing process. In the theory of corporate finance, there are different methods that significantly facilitate the work of financial managers in this part. At the same time, it is important and significant that in some cases, practitioners face a number of problems that are not prescribed by classical methods. The situation is exacerbated by the solution of financing issues within the complex structured companies, which have become a special result of the capital structuring. Their complex structure often combines the signs of formal and informal holdings. A large number of participants in these structures (such as subsidiaries and affiliates, affiliates, structural units), organization of relations with customers, suppliers and contractors significantly complicate most financial processes, including the financing process. In such cases, there is an urgency to clarify the qualitative characteristics of financing, necessity in determining the role and extent of the influence of "hidden" financing sources on the result and efficiency of capital use. Actually, microlending is the one of these sources.This type of financing is used by companies, being contractors of large businesses, use this resource for financial security purposes
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Vaccari, Michael A. "Overview of Innovative Financing: Highway and Transit." Transportation Research Record: Journal of the Transportation Research Board 1527, no. 1 (January 1996): 31–34. http://dx.doi.org/10.1177/0361198196152700103.
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An overview of innovative finance activity in highway and transit programs is presented. It is hoped that readers are given enough information to assess the usefulness of a particular financing device for their agencies. The financings are grouped into five categories: lease-structured financings; structures that achieve more with less money; cross-border leases; derivatives; and miscellaneous. Each of the financings is assessed to determine which of FTA's goals for innovative financing are achieved, that is, whether the financing reduced the costs of capital projects or provided better management of cash flow.
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Namazov, Vugar Faig. "Structured Financing Producs as an Alternative to the Traditional Financing." Information and Innovations 16, no. 1 (April 20, 2021): 23–28. http://dx.doi.org/10.31432/1994-2443-2021-16-1-23-28.
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The article examines key aspects of the structured trade financing instruments and prerequisites for their existence. The research is based on an analysis of synergies between financial and commodity markets, and aimed to the development of sustainable risk management tools by enhancing access to capital thru alternative financial instruments, especially for the small and medium size entrepreneurs. The main focus is concentrated around developing economies.
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Vanden, Joel M. "Asset Substitution and Structured Financing." Journal of Financial and Quantitative Analysis 44, no. 4 (August 2009): 911–51. http://dx.doi.org/10.1017/s0022109009990226.
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AbstractThis article shows how structured financing can be used to solve the asset substitution problem in a dynamic setting. Structuring induces the firm’s owner to optimally choose the first best operating strategy even though the owner’s value function might be locally convex (concave), which would ordinarily lead to overinvestment (underinvestment) in risky projects. This result is demonstrated in two different continuous time settings—one that is based on the risk-shifting framework of Leland (1998) and one that generalizes the scaled return model of Green (1984). It is shown that the contractual nature of the structuring is a key determinant of the issuing firm’s dynamic asset volatility. Furthermore, unlike nonstructured financing, the default (conversion) probability of a structured debt security may be increasing (decreasing) in the firm’s total assets. Structured securities are therefore hedge assets, which potentially explains the popularity of structured securities among investors and third-party issuers.
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De Martino, M., G. F. Tkach, and S. A. Kovalenko. "Modern Trends in Public Funding of Higher Education." Vysshee Obrazovanie v Rossii = Higher Education in Russia 29, no. 3 (March 28, 2020): 136–52. http://dx.doi.org/10.31992/0869-3617-2020-29-3-136-152.
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Public funding currently plays a key role in the stability and success of higher education systems in the world leading countries. As governments are often the main sources of funding for higher education, the effectiveness of public policies in allocating financial flows is a matter of concern. This paper discusses the main mechanisms of financing higher education systems and analyzes the structures and features of these mechanisms using the examples of the largest countries of Western Europe and Asia – Germany, Spain, Italy, France, and China.Materials and methods. In order to identify current trends in public funding of higher education, the authors used two main groups of materials, which can be conditionally divided into official regulatory documents and statistical (analytical) reviews. Systemic-structural and statistical data analysis methods were applied in the research.Results. The study of trends in public funding of higher education revealed their great diversity not only in terms of the share in the overall structure of university income, but also in the mechanisms of distribution of financial flows. Nevertheless, this study presents the main groups of these mechanisms, structured according to the methods of their implementation.Discussion and Conclusion. In the course of the study, the authors concluded that the existing diversity of the world’s higher education financing systems is primarily due to the sustainability of traditions that have developed in national education systems, and the lack of international initiatives aimed at unifying the mechanisms of education financing, as was done earlier on the structure, levels and qualifications in the implementation of the bologna Process. In addition, the constantly changing financial situation in the world encourages states to look for alternative sources of support for higher education, which leads to the creation of new independent financing mechanisms.
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Vapa-Tankosić, Jelena, and Dejan Vukosavljević. "The analysis of the structured financial transactions as alternative sources of financing." Pravo - teorija i praksa 38, no. 1 (2021): 13–24. http://dx.doi.org/10.5937/ptp2101013v.
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It is undeniable that global financial institutions are facing the major changes taken place during the last few years. Starting with the continuous tightening of both legal and financial regulations, preparation for the introduction of Basel 3, consolidation of the industry itself, the introduction of new information and communication technologies, enhanced safeguards to prevent money laundering, globalization of financial functions and capital markets, the traditional structure of the financial services industry has suffered many changes. Technological changes have reduced the transaction costs and accelerated the transfer of knowledge between the countries all over the world. There have emerged the modern forms of financial instruments crossing the barriers of national markets. Complex financial transactions unite all participants in the global market and, at the same time, they form the relative prices of all goods, services and capital. This paper aims to analyze the mechanism of realization of the structured financial transactions of banks and specialized institutions as alternative sources of financing in the global financial market.
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Ekananda, Mahjus, and Jhanghiz Syahrivar. "Panel VAR for Analyzing Business Cycle Influence on the Distribution of Sharia Banking Financing in Indonesian Sharia Banking." Media Ekonomi dan Manajemen 38, no. 1 (January 15, 2023): 33. http://dx.doi.org/10.56444/mem.v38i1.3155.
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This paper is structured to explain the effect of the business cycle on the distribution of Islamic banking financing in Indonesia. Furthermore, this research examined the differences between account receivables financing and profit-sharing financing, as well as different forms of Islamic banking. In this case, Islamic banking financing, account receivables financing, and profit-sharing financing will have the same responses or changes in the face of the business cycle in Indonesia. This research is focused and limited to the response of Islamic banking financing to the business cycle in Indonesia. Second, this research used quarterly data from 2007 to 2020 obtained from financial data of each sharia commercial bank and sharia business unit published through the Financial Services Authority (OJK) and Bank of Indonesia; meanwhile, the macro-level data was taken from data from the Central Agency publication Indonesian Statistics. Third, the estimation method used is the Panel VAR to accommodate the heterogeneity between firms. The results show that capital and liquidity respond positively to changes in banking financing, account receivables financing, and profit-sharing financing. The results also show that performing loans and profitability will decrease if there is a shock to the three types of financing.
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KOVSHUN, Nataliya, and Nataliya PIATKA. "CURRENT STATE OF FINANCING ENVIRONMENTAL MEASURES IN UKRAINE." Ukrainian Journal of Applied Economics 4, no. 4 (October 30, 2019): 241–49. http://dx.doi.org/10.36887/2415-8453-2019-4-28.
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Introduction. The processes of globalization and social transformation have made environmen-tal conservation a priority, and therefore require some action to be taken to address environ-mental issues and the rational use of natural resources. The solution of the existing problems depends to a great extent on the functioning efficiency of the financial security system established in the country, the established composition and the volume of financing sources and certain directions of their use, which necessitates their scientific-based analysis. The purpose of the study is to investigate the state of financing environmental measures in Ukraine, to study the directions, dynamics and structure of costs for environmental protection, identifying features of financing environmental protection. Results. The comprehensive analysis of the dynamics of costs for environmental protection and rational use of natural resources is carried out. The main components of environmental expenditures are identified. Costs for environmental protection and rational use of natural resources by financing sources have been structured. The dynamics and structure of capital investments by nature conservation measures are investigated. The dynamics of the share of expenditures for environmental protection and rational use of natural resources in the GDP of Ukraine, as well as the share of capital investments (environmental) in the structure of capital investments of Ukraine are analyzed. The features of the current state of financing environmental protection and rational use of natural resources are highlighted. Conclusions. The results of the research made it possible to identify the main problems in the field of financial support for environmental protection and to outline the ways of their solution. The necessity of investments mobilization into nature protection activity is proved through development of appropriate means of economic stimulation and their legislative fixing, which will allow to solve the problem of financial support of environmental protection by diversification of financing sources. Keywords: costs for environmental protection, environmental activities, environmental measures, recurrent costs, capital investments, cost structure, financial support.
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Ali, Mohammad Mahbubi. "Toward Islamic Banking Without Tawarruq." ICR Journal 8, no. 2 (April 15, 2017): 256–59. http://dx.doi.org/10.52282/icr.v8i2.199.
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Islamic financial products have evolved and developed remarkably from simple and straightforward structures to highly sophisticated and multifaceted instruments. During the 1980s and 1990s, Islamic financial products were dominated by deposits and savings, syndicated project financing, Shari’ah-compliant stocks and mutual funds. The last two decades have witnessed the unveiling of more complicated structures, including various sukuk models, derivatives, Islamic structured products, Islamic hedge funds, and others. Most, though not all, of these replicate conventional products, splicing together nominate contracts from the Islamic fiqh legacy with a few modern modifications to meet legal requirements and to become Shari’ah-compliant’.
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Nakiwala, Margaret, Stephen Mukiibi, Amin Tamale Kiggundu, and Hailu Elias. "Examining Awareness, Attitudes, and Challenges of Owner Developers Regarding Mortgage Financing Eligibility Terms in GKMA, Uganda." East African Journal of Business and Economics 6, no. 1 (October 14, 2023): 456–72. http://dx.doi.org/10.37284/eajbe.6.1.1512.
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This paper explored how owner-builders in GKMA, Uganda, perceive and access mortgage financing from commercial banks. We employed a descriptive study design including quantitative and qualitative data collection methods using questionnaires with semi-structured open-ended and close-ended questions about mortgage financing to collect data from 400 owner-builders Centenary Bank and House Finance Bank clients. Questionnaire information on basic requirements, awareness, attitudes and challenges was analysed using Likert Scale Mean Scores and correlation statistics using STATA 17. The paper found that owner-builders face high interest rates, cumbersome mortgage processes, poor mortgage product sensitisation, time-consuming phased disbursements, corrupt bank officials, and high initial contributions as significant challenges. The paper suggests policy recommendations to improve access to mortgage financing in GKMA, Uganda. This paper recommends that financial institutions provide more information, support, and flexibility to owner-builders who want to access and manage mortgage financing. The study further suggests that the government and the financial sector work together to improve financial inclusion, literacy, innovation, competition, regulation, and support for low-income households who want to access mortgage financing in Uganda
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Onileowo, Temitope Teniola, Farrah Merlinda Muharam, and Mohd Khairuddin Ramily. "Financial Structure and Business Development in Southwest Nigeria." Journal of Hunan University Natural Sciences 49, no. 10 (October 30, 2022): 197–203. http://dx.doi.org/10.55463/issn.1674-2974.49.10.21.
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The challenge of poverty has become widely known in Nigeria. Despite numerous economic development policies and strategic plans intended to eradicate it through the development of highly skilled labor and capital, the country's economy is still rife with social vices that have increased unemployment and led to starvation among the populace. This study examines and analyses the financial structure and business development in southwest Nigeria, driven by two primary research goals: to understand the significance of financing decisions determining entrepreneurial success or failure and to explore the critical factors essential for business survival and those that impact how businesses expand across Southwest Nigeria. The data collected were analyzed with the use of Descriptive Statistics and Partial least squares (PLS). Investigating the impact of financial structure on business development in Southwest Nigeria used a survey that engaged 8,395 established SMEs, representing 36% of all SMEs in the Southwest states of Nigeria. The primary data were collected using a structured questionnaire. The findings revealed the importance of reducing this stubborn economic destructor with the help of vital entrepreneurial business finance. This proves that business funding, particularly in southwest Nigeria, may act as an economic stimulant. Thus, the study findings are new and essential as they focus on a region of Nigeria that has not attracted much attention in the world of academia and research. This study closes the critical knowledge gap, providing insights into how regional businesses can develop through effective financial structures. It extends the existing body of knowledge, showing how affordable business financing acts as an economic stimulant to entrepreneurial development and expansion. Thus, this research recommended that business development be well established through well-structured policies, financed, and supported to help address the various social vices.
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Thathsarani, Udullage Shanika, and Wei Jianguo. "Do Digital Finance and the Technology Acceptance Model Strengthen Financial Inclusion and SME Performance?" Information 13, no. 8 (August 17, 2022): 390. http://dx.doi.org/10.3390/info13080390.
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Digital inclusive finance, as a vital engine for the country’s high-quality growth, provides new impetus and prospects for encouraging economic development during the looming economic downturn. SMEs play a significant role in economic growth and development, particularly in developing countries. However, value promoting financial inclusion for SMEs through digitalization is still understudied. The objectives aimed at by this investigation were: to study the impact of financial inclusion on SME performances, to observe the influence of digital financing on financial inclusion and SME performance association as a mediator and to examine how the Technology Acceptance Model (TAM) supports financial inclusion and SME performance. A well-structured questionnaire using a quantitative research approach was utilized to gather data from 366 owner-managers among Sri Lankan SMEs. The study’s findings are presented: financial inclusion, digital financing and TAM play influential roles in SME performance. More precisely, digital financing and TAM mediate positively the relationship between financial inclusion and performance in SMEs. The findings of this research endeavor to shed light on developing and popularizing digital financing by providing services which are cheap, secure and low risk from a supply-side perspective, as well as adopting and adjusting digital financing by enhancing financial literacy, which would be necessary from the demand-side perspective.
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Nafisah, Hana, and Ahmad Perdana Indra. "Analisis Terhambatnya Pencairan Pembiayaan Murabahah Nasabah Pensiunan Perkebunan pada PT BPRS Amanah Bangsa." MES Management Journal 2, no. 2 (November 14, 2022): 127–40. http://dx.doi.org/10.56709/mesman.v2i2.65.
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The Amanah Bangsa Sharia People's Financing Bank (BPRS) located in Kab. Simalungun is one of the financial institutions that has a murabahah financing program for employees who have retired from plantations. The installment payment system is adjusted to the amount of income received by the customer. However, there are still customers who experience delays in disbursing murabahah funds due to the lack of complete administrative data. This study aims to determine the completeness of the data that must be met by customers in order to avoid delays in the disbursement process and to know the procedures for disbursing murabahah financing. The results showed that this personal data file can be applied in accordance with what has been set by the BPRS Amanah Bangsa Kab. Simalungun to overcome obstacles such as the delay in the process of disbursing murabahah financing. By completing the personal data file, following this structured mechanism in order to expedite the process of disbursing murabahah financing.
Keyword : BPRS Amanah Bangsa, Financing, Requirements
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Nafisah, Hana, and Ahmad Perdana Indra. "Analisis Terhambatnya Pencairan Pembiayaan Murabahah Nasabah Pensiunan Perkebunan pada PT BPRS Amanah Bangsa." MES Management Journal 2, no. 1 (November 14, 2022): 127–40. http://dx.doi.org/10.56709/mesman.v2i1.65.
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The Amanah Bangsa Sharia People's Financing Bank (BPRS) located in Kab. Simalungun is one of the financial institutions that has a murabahah financing program for employees who have retired from plantations. The installment payment system is adjusted to the amount of income received by the customer. However, there are still customers who experience delays in disbursing murabahah funds due to the lack of complete administrative data. This study aims to determine the completeness of the data that must be met by customers in order to avoid delays in the disbursement process and to know the procedures for disbursing murabahah financing. The results showed that this personal data file can be applied in accordance with what has been set by the BPRS Amanah Bangsa Kab. Simalungun to overcome obstacles such as the delay in the process of disbursing murabahah financing. By completing the personal data file, following this structured mechanism in order to expedite the process of disbursing murabahah financing.
Keyword : BPRS Amanah Bangsa, Financing, Requirements
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Nafisah, Hana, and Ahmad Perdana Indra. "Analisis Terhambatnya Pencairan Pembiayaan Murabahah Nasabah Pensiunan Perkebunan pada PT BPRS Amanah Bangsa." Economic Reviews Journal 2, no. 2 (March 3, 2023): 192–205. http://dx.doi.org/10.56709/mrj.v2i2.58.
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The Amanah Bangsa Sharia People's Financing Bank (BPRS) located in Kab. Simalungun is one of the financial institutions that has a murabahah financing program for employees who have retired from plantations. The installment payment system is adjusted to the amount of income received by the customer. However, there are still customers who experience delays in disbursing murabahah funds due to the lack of complete administrative data. This study aims to determine the completeness of the data that must be met by customers in order to avoid delays in the disbursement process and to know the procedures for disbursing murabahah financing. The results showed that this personal data file can be applied in accordance with what has been set by the BPRS Amanah Bangsa Kab. Simalungun to overcome obstacles such as the delay in the process of disbursing murabahah financing. By completing the personal data file, following this structured mechanism in order to expedite the process of disbursing murabahah financing.
Keyword : BPRS Amanah Bangsa, Financing, Requirements
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Soekapdjo, Soeharjoto, and Agnes Panca Dewi. "Potensi Pasar Pembiayaan KMF Purna BRISyariah iB Dengan Akad Murabahah (Pendekatan Analisis SWOT)." Jurnal Perspektif 19, no. 1 (February 11, 2021): 11–16. http://dx.doi.org/10.31294/jp.v19i1.9755.
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Banks and other financial institutions open majority the market to the productive age community but BRISyariah iB focus on retiree. Purpose of this research is to determine market potential of KMF Purna financing with the Murabahah contract at BRISyariah iB. SWOT analysis is used as a method in this research. Result shown, that this financing has a mechanism that well structured and in accordance with the provisions of the OJK which deals with Islamic banking, to avoid misunderstandings that can harm and reduce the trust of both parties. Result of KMF Purna with the Murabahah contract financing at BRISyariah iB having a great potential market because focus on retiree market share who need financial assistance for goods and services fulfillment as well as their customers at an late adulthood who want a sense of security. For this reason, BRISyariah iB in financing KMF Purna with the Murababah agreement can optimize the market by increasing human resources, digital technology, marketing, and collaboration with other companies in order to increase competitiveness with other financing institutions.
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Saha, Sumi, Subhash Chandra Sil, and Md Sayaduzzaman. "The Use of Accounting Information in Financing Decision: The Context of Bangladeshi Private Commercial Banks." Asian Business Review 11, no. 1 (March 25, 2021): 15–20. http://dx.doi.org/10.18034/abr.v11i1.514.
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Accounting information is essential to elucidate the financial scenario of any organization. The use of accounting information enhances the decision-making process that has a good role in managerial efficiency. This research study has attempted to know the use of accounting information contained in the annual reports in making a financing decision. Five components of financing decision like selecting the best source of financing, assessing the cash flows, preparing the budget and profit planning, valuation of bond and share as well as financial statement analysis have been considered for the purpose of the study and collected opinions from the selected respondents amounts to one hundred fifty with the use of structured questionnaire and the outcomes of this survey report that the most of the respondents strongly agreed that the accounting information has been used in making a financing decision. The study also reveals that there is a significant relationship among the opinions of the respondents regarding using accounting information in making decisions about the different components of financing decisions.
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Saleem, Shujaat, and Fadillah Mansor. "Exploring Compliance of AAOIFI Shariah Standard on Ijarah Financing: Analysis on the Practices of Islamic Banks in Malaysia." Journal of Risk and Financial Management 13, no. 2 (February 5, 2020): 29. http://dx.doi.org/10.3390/jrfm13020029.
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This paper aims to explore whether the practices of Ijarah financing by Islamic banks in Malaysia are in line with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Shariah Standard No: (9) on Ijarah financing. Semi- structured interviews based on open-ended questionnaires were conducted, recorded verbatim, and transcribed for content analysis. Our study revealed flaws in the contemporary practice of Ijarah financing and indicated that it was slightly out of line with the AAOIFI Shariah standard. The study will not only help the Islamic banking industry of Malaysia to reduce, if not eliminate the gap between the practices of Bank Negara Malaysia (BNM) and AAOIFI Shariah standards pertaining to Ijarah financing but also create novel literature due to the fact that, no study has been undertaken to date, which analyzes the practices of Ijarah financing by Malaysian Islamic banks in the light of the AAOIFI Shariah standards.
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Tarasov, A. A. "Financial Instruments to Support Russian Exporters." Economics, taxes & law 12, no. 4 (September 6, 2019): 29–38. http://dx.doi.org/10.26794/1999-849x-2019-12-4-29-38.
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The subject of the research is the basic financial instruments for the support of Russian exporters that can ensure the competitiveness of Russian corporations in the international markets. The purpose of the article is a structured description of the line of banking products that are available for leading Russian exporters, as well as defining the tools for international development banks whose member is the Russian Federation; also, commercial banks products classification for exporters, and study of pre-export credit. The methodological base for the research is optimization approach application to the forming of the capital structure for the exporting corporation using financial tools. To analyze banking products, structural and process approaches, including describing the parameters and pre-export and post export financing mechanisms and detailed execution schedule of the transactions, are used. Three key elements of corporate capital raising are discriminated. They are optimal structuring of the deal, correct organization of the monetary fund’s raising process, and efficient risk management in raising debt and stock capital. It is concluded that exporters have to use a number of different banking products to raise capital for achieving tactical and strategic aims of development. Depending on the needed size, terms and structure of the transactions the corporation can use such tools as short-term revolving credit, medium-term investment credit, long-term project financing.
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Mishchenko, Volodymyr, Svitlana Naumenkova, Viktor Ivanov, and Ievgen Tishchenko. "Special aspects of using hybrid financial tools for project risk management in Ukraine." Investment Management and Financial Innovations 15, no. 2 (June 15, 2018): 257–66. http://dx.doi.org/10.21511/imfi.15(2).2018.23.
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The relevance of the article is due to the need of using non-traditional tools for capital raising and hedging financial risks in Ukrainian conditions that allow investors to protect themselves against possible losses during the entire life cycle of the investment project. The study is based on the National Bank of Ukraine statistical data, data of Ukrainian commercial banks, as well as on the authors’ calculations based on empirical and economic-statistical methods. According to international practices, hybrid financial instruments were classified and the special aspects of their use in Ukraine were studied to manage the risks of project financing. Specific features of using the structured bonds for financing investment projects are determined based on the synthetic securitization scheme. The experience of Ukrainian banks was analyzed and the necessity to use financial instruments such as guarantees and letters of credit in risk management of project financing was substantiated. It has been established that forward contracts, currency swaps and over-the-counter currency options are the most acceptable instruments for hedging foreign exchange risks of project financing. Further studies of the problem should include the need for legislative regulation of using hybrid financial instruments, as well as methodological and regulatory support for the risk management of project financing at all stages of the investment project implementation.
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Atah, Ummi Ibrahim, Mustafa Omar Mohammed, Engku Rabiah Adawiyya, and Adewale Abideen Adeyemi. "Proposed Secured Bay-Salam Model for Financing Agriculture by Islamic Banks." International Journal of Management and Applied Research 6, no. 4 (November 1, 2019): 181–95. http://dx.doi.org/10.18646/2056.64.19-013.
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Bay Salam is a type of forward contract between two parties to sell or buy a commodity set at agreed terms and conditions on a future date. The Bay Salam contract is beneficial for both buyer and seller because the seller receives full payment in advance while the buyer pays at a favourable price. Despite its benefits to farmers and vendors, this mode of financing is widely available. Therefore, this article aims to explore the concept of the Bay Salam contract and its potential application in financing the agricultural sector in contemporary banking system. This research adopts a qualitative approach by critically reviewing the literature and conducting semi-structured interviews with seven financial and agricultural experts in Nigeria using purposive sampling method. Findings show that Bay Salam is largely unpopular in modern days due to high level of risk and management responsibilities required for the financier. The novelty of this paper lies in the proposed model which combines the concept of Bay Salam and Takaful.
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Bouwer, L. M., and P. Vellinga. "Some rationales for risk sharing and financing adaptation." Water Science and Technology 51, no. 5 (March 1, 2005): 89–95. http://dx.doi.org/10.2166/wst.2005.0116.
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Current climate variability and anticipated climate change challenge our water systems and our financial resources. The sharing of economic losses due to weather related hazards and the sharing of costs that result from protecting lives and property take place in different forms, but are currently insufficient. In this paper we discuss three different rationales for financing disaster losses through public and private arrangements, as well as options for financing adaptation, with a special focus on water management. We propose that financial arrangements for risk sharing and climate change adaptation should be reconsidered, in a more structured approach, to be able to deal with both disaster losses and the costs that arise because of climate change adaptation, e.g. for water management, in both developing and developed countries.
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Manych, Niccolò, Florian Egli, Nils Ohlendorf, Tobias S. Schmidt, Bjarne Steffen, Anna Stünzi, and Jan Christoph Steckel. "Pushed to finance? Assessing technology export as a motivator for coal finance abroad." Environmental Research Letters 18, no. 8 (August 1, 2023): 084028. http://dx.doi.org/10.1088/1748-9326/ace6c1.
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Abstract The construction of new coal-fired power plants is frequently financed by banks from abroad. Recent studies suggest that the opportunity to export technology is a relevant ‘push factor’ for such financing activities. In this paper, we provide first quantitative evidence for this hypothesis on a global scale. We construct a novel dataset that tracks both public and private financial involvement on a coal unit level, including information on equipment manufacturers and service providers. The findings indicate that financial institutions from various countries, including China, Japan, South Korea, and Western nations provide loans to coal units overseas. These finance flows, particularly from publicly owned banks, are accompanied by technology exports from the same country. Complementing our quantitative analysis with semi-structured interviews, we find indications that political economy factors, such as public banks’ requirement for participation of domestic firms in financing deals and the unlocking of export business opportunities for domestic industries in financing countries, contribute to this correlation. Our findings highlight the importance of financing countries and their domestic industries for low-carbon transitions globally.
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Fu, Jingyan, and Artie W. Ng. "Scaling up Renewable Energy Assets: Issuing Green Bond via Structured Public-Private Collaboration for Managing Risk in an Emerging Economy." Energies 14, no. 11 (May 25, 2021): 3076. http://dx.doi.org/10.3390/en14113076.
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Green bonds have increasingly been utilized around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors, while mitigating climate change. However, the efficacy of green bond arranged in the emerging economies for financing renewable energy assets and how the underlying risks are managed have remained to be explored. The paper aims to examine the evolving green financial system sponsored by both public and private institutions in managing such risks within China’s emerging economy. A case study of green financing for a bundle of wind power assets led by a state-owned enterprise (SOE) reveals an alternative approach by structuring public–private collaboration while stipulating market-based financial incentives to institutional stakeholders under a political economy. This institutional consortium is composed of a state development bank, a commercial bank, credit rating agencies, institutional and private investors, regional power purchasers, and carbon trading entities. Financial stakeholders’ risk in such emerging sustainable investment is moderated by these participating institutions and structured “upsides” from carbon trading aligned with the framework of green finance and standards for green bond development. The results reveal the potentials of scaling up the development of renewable energy by adequately managing and sharing key risks, while allocating substantial funding into renewable energy projects under such a green financial system that is to be complementary with a scalable post COVID-19 economic recovery.
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Tan, Harold, and Lim Yee Juan. "Finance transformation for healthcare: A structured model for planning and action." International Journal of Healthcare 5, no. 1 (April 18, 2019): 42. http://dx.doi.org/10.5430/ijh.v5n1p42.
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With rising healthcare costs, payers are transforming the way they pay healthcare providers. Currently, there is much interest in value-based financing and accountable care models. However, finance transformation in healthcare goes beyond changing funding models. The way funds flow to providers and how patients share healthcare costs also need to be transformed to ensure an overall sustainable value-based financing system. A structured model of finance transformation in healthcare is proposed in this article supported by evidential review, which discusses several fundamental and critical factors affecting finance transformation and explores some strategies that could help sustain the new financing models. Hopefully, this model can serve as a useful guide to healthcare systems embarking on finance transformation for long term cost sustainability.
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Bin Mat Isa, Muhammad Pisol, Naelati Tubastuvi, Sri Wahyuni, Maran Marimuthu, Ridhuan Tony, Muhammad Zul Aiman Zulkifli, and Siti Hajar. "Innovation of Risk Mitigation Model for Islamic Equaty-Based Financing in Islamic Microfinance Institutions in Indonesia." SHS Web of Conferences 124 (2021): 10004. http://dx.doi.org/10.1051/shsconf/202112410004.
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Islamic Microfinance institution (MFI) funded either by government or private financial institutions are playing an instrumental role in discharging business fund to the eligible micro entrepreneurs (ME). The potential of micro entrepreneurs to succeed in their business is always becoming a central issue, this is due to the ability to manage the business strategy in a sustainable manner. The fund transacted in micro financing industry is small in term of quantity, therefore it also generates small profit to both parties MFI and ME, it may not be profitable in the eye of financial institution such as bank or Microfinance institution such as Baitul Mal wa Tamwil, moreover the financing risk is always high because some of the financing given without proper risk mitigation could lead into financial failure. The above reasons have influenced most of the MFIs’s decision to abstain from providing equity-based financing, where the concept very much suitable and workable to bring out the groups of MEs from poverty list in comparison to debt-based financing. Equity-based financing require bigger commitment and intervention from MFI in business in term of coaching, training and managing cash flow of the business. Islamic equity-based financing is about profit and loss sharing (PLS) financing. Where both parties have to bear financial consequences in the event of business failure. The failure in business would cause non-performing financing (NPF) to the financial institution and could effect the financial position for that particular year of report. The continuous NPF to the MFI can risk the company future plan. Thus, this study aimed to explore the mechanism of risk mitigation for equity-based financing which can be adopted by Islamic microfinance institutions around the would. The mechanism used to suggest in area of governance, selection of entreprenuer, financing arrangement, payment system and business business sectors. The study applied content analysis to collect the history data of equity-based financing as offered by BMT and MFIs in Indonesia, the data informed researcher on the success and failure story, the study also applied structured interview with managers who are responsible on risk mitigation. The study found that BMT and MFIs in Indonesia are well-organized, the governance and selection of entreprenuer are palying significant role while the payment system which includes the collatoral against any negligence posits an effective way in mircofinance mitigation model.
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Gaćeša, Radmila. "Supply chain finance." Bankarstvo 49, no. 4 (2020): 100–111. http://dx.doi.org/10.5937/bankarstvo2004100g.
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Supply channel financing or reverse factoring can be defined as the use of financial instruments and technologies to optimize the management of working capital and liquidity, which are linked to the supply chain. This type of transaction includes the following participants: the supplier, the buyer and the factor as an intermediary. Given the available expertise, professionally trained staff, structured experience, technical equipment and some other functionalities, banks are, as factors, ideal participants in supply chain financing. The support provided by international financial institutions, some of which will be mentioned more specifically in the following text, can be a valuable opportunity to improve existing models, and to initiate new projects and install appropriate platforms, which would certainly benefit both clients and the banks themselves.
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Bizri, Rima, Rayan Jardali, and Marwa F. Bizri. "Financing family firms in the Middle East: the choice between Islamic and conventional finance." International Journal of Entrepreneurial Behavior & Research 24, no. 4 (June 11, 2018): 842–65. http://dx.doi.org/10.1108/ijebr-10-2016-0349.
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Purpose The purpose of this paper is to investigate the role of non-economic factors on the financing decisions of family firms in the Middle East. To contextualize the study, the authors steer away from the traditional capital structure debate toward the choice of financing paradigm: conventional vs Islamic. Design/methodology/approach This study uses Ajzen’s theory of planned behavior due to its ability to delineate the influence of non-economic motivational factors on the financing decisions of family firms. This study also examines the influence of “familial stewardship (FS),” another non-economic factor which is highly relevant in a collectivistic context. The authors initially use SEM with Amos to analyze 115 surveys of family firm owner-managers. For deeper probing, the authors undertook an additional post hoc qualitative analysis of six case studies using semi-structured interviews. Findings The findings of this study suggest that owner-managers’ attitude toward Islamic finance plays a primary motivational role in influencing their intentions to use it. More importantly, the findings depict a significant influence of “FS” and subjective norm on the attitudes of owner-managers. This implies that financing decisions which involve religious beliefs are directly influenced by the decision maker’s personal attitude, which, in turn, is significantly influenced by familial and social pressures. Originality/value This study fills a gap in the family-firm financing literature by suggesting that when choosing religion-related financial products, attitude plays a far more significant role than other motivational factors. This study also contributes to the “familiness” area of research by empirically demonstrating that FS has a significant influence on owner-managers’ attitude toward financing choices.
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Saiti, Buerhan, Muhibullah Afghan, and Nazrul Hazizi Noordin. "Financing agricultural activities in Afghanistan: a proposedsalam-based crowdfunding structure." ISRA International Journal of Islamic Finance 10, no. 1 (June 19, 2018): 52–61. http://dx.doi.org/10.1108/ijif-09-2017-0029.
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PurposeThis study aims to explore the potentials of adoptingsalam-based crowdfunding for financing the agricultural sector in Afghanistan.Design/methodology/approachIt adopts a triangulation approach, consisting of a number of methods used in gathering relevant information about Afghanistan’s agricultural sector, the concept of crowdfunding andsalam(forward sale) contract. These methods include library research, reviewing documents provided by Afghanistan’s banks and semi-structured interviews with Islamic finance experts.FindingsThis study finds thatsalam-based crowdfunding is a viable Sharīʿah-compliant investment platform, which may offer some advantages for both potential investors and farmers or entrepreneurs.Originality/valueThe novelty of this paper lies in the proposed structure ofsalam-based crowdfunding.
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Oktaviani, Yeni. "Incentives Compatible Constraints Pada Pembiayaan Mudharabah Bank Nagari Syariah." Liquidity 6, no. 1 (April 10, 2017): 38–50. http://dx.doi.org/10.32546/lq.v6i1.39.
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The realization of mudharabah financing in sharia banks is low than murabahah financing due to the high risk of moral hazard. This study proves that moral hazard risk of mudharabah financing can be reduced by incentive compatible constraints as risk mitigation. The findings of this study indicate that high moral hazard risk in mudharabah financing in Bank Nagari Shariah can be reduced by establishing several covenants at the beginning of the contract. Incentive compatible constraints were introduced by John R. Pressley and Session as the asymmetric risk mitigation of moral hazard information. The Nagari Bank Shariah identifies the moral hazard risk caused by internal and external factors of the bank, so that risk mitigation is also done internally and externally. Incentive compatible constraints as a mitigation of moral hazard risk and effective to reduce the occurrence of moral hazard risk for cooperative and institutional customers. The data mining process uses structured interviews with financing analysts and sharia risk management team of Bank Nagari Syariah. Documentation of bank financial statements, implementation guidelines of sharia financing and sustainability report 2014. The data obtained then analyzed by qualitative approach. Data analysis technique is done descriptively qualitative with incentive compatible constraints as an analytical tool.
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Khan, Ayaz, Jamil Ahmad, and Jan Alam. "FINANCIAL INTELLIGENCE AND ITS BARRIERS IN THE INVESTIGATION PROCESS OF COUNTERING THE FINANCING OF TERRORISM IN PAKISTAN." Pakistan Journal of Social Research 03, no. 03 (September 30, 2021): 15–22. http://dx.doi.org/10.52567/pjsr.v3i3.222.
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The study was performed with the principal focus on exploring gaps in the investigation process of countering the financing of terrorism in Pakistan. The study used a qualitative method to explore the barriers of investigation in financing terrorism. A set of 25 participants was selected purposively and interviewed through an in-depth, semi-structured interview guide. The thematic analysis technique was utilized for the findings and unearthing the gaps/reasons for failure in an investigation of countering the financing of terrorism in Pakistan. There were gaps explored in terms of securing prosecutable evidence in the investigation processes of money laundering. The major elements behind terrorist financing are found to be money transferred through Hawala, income generation through Chanda/donations, less or no access to traditional funding, the absence of effective monitoring on the national level, and poor access to the digital economy. The researchers recommend that such elements need to be controlled and be brought in line with that of FATF's to improve the image of Pakistan. Keywords: Anti-money laundering; Financial Intelligence; barriers; qualitative research
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Kiss, Judit. "Who Finances Whom?" Afrika Tanulmányok / Hungarian Journal of African Studies 16, no. 1 (June 23, 2022): 38–56. http://dx.doi.org/10.15170/at.2022.16.1.3.
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In contrast to the highly developed countries and some developing regions, Africa highly depends on external resources of financing development. According to the saving-investment gap concept, there is a significant gap between savings and investment rates. As domestic resources are limited and their mobilization is slow, the region should rely on external sources of finance (i.e., aid, export revenues, FDI, loans, and remittances) in order to close the finance gap. Despite the massive inflow of external resources, the 200 billion USD yearly financing gap still prevails. The outflow of financial resources from Africa in the form of profit repatriations, debt service, tax dodging, capital flight and illicit financial flow exceeds the inflow, suggesting that Africa is a bottomless barrel. The long-standing concept about the saving-investment gap does not provide a full explanation for the prevailing financing gap. The main research questions are as follows: (a) Why is there a permanent financing gap in Africa? b) Why does the outflow of financial resources exceed the inflow? c) What should be done to close the financing gap and solve the problem of financing development?
The paper is structured as follows: Section 1 is based on the saving-investmentgap concept and explores the validity of this theory in Sub-Saharan Africa. The conclusion of Section 1 is that there is a permanent finance gap in SSA, consequently, the region should rely on external sources of finance. Section 2 introduces the main external sources of finance (aid, FDI and remittances) and reveals the major trends and characteristics of these flows. As the saving-investment gap is smaller than the amount of external financial inflow, two questions arise: Where does the money go? Is Africa suffering from a financial haemorrhage? Section 3 tries to identify those “leaks” which drain Africa’s accumulated domestic and external resources by analysing the main channels of financial outflows such as capital flight and illicit financial flows. In the conclusion we present the financing situation of Africa and answer the question “Who finances whom?” and make recommendations for enhancing development finance. The final conclusion is that not the external world finances Africa, but Africa finances the world. The issue of financing Africa’s development cannot be solved without (a) mobilizing domestic resources (including domestic savings), (b) attracting external resources as well as improving the use and avoiding the misuse of inflowing financial resources, and (c) curbing capital flight and tackling illicit financial outflow.
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Baporikar, Neeta, and Lucia Sauti. "Social Enterprise Financing Case Study." International Journal of Information Systems and Social Change 13, no. 1 (January 1, 2022): 1–18. http://dx.doi.org/10.4018/ijissc.303602.
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Enterprises require sufficient finances on a sustainable basis to achieve their set goals and deliver effective, efficient, innovative, and quality services. More so the social enterprises as they cater to a larger base. Yet social enterprises the world over face funding challenges. Special schools are no exception, even if they are established by the government for social upliftment and enhanced inclusivity. Hence, the aim of this paper is to explore the challenges special schools face in Windhoek, Namibia. Adopting exploratory research design with mixed methodology approach, quantitative data collection by questionnaire from 50 participants and qualitative data collected through structured interviews include four management staff of two special schools, one each from philanthropic organization Ministry of Education. Findings reveal the various reasons for challenges in financing are due to the Government abolishment of the School Development Fund (SDF) and cuts in education budgets due to financial crisis. Recommendations include special planning and private-public partnerships.
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Ashirbekova, D. A., and G. Zh Nurmukhanova. "Global trends in financing higher education." Bulletin of "Turan" University, no. 1 (March 31, 2021): 152–57. http://dx.doi.org/10.46914/1562-2959-2021-1-1-152-157.
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This article describes the types of higher education institutions financing around the world, as well as the features of university financing and their structural changes in the context of the countries of the world. The management system of higher education around the world is multifunctional, complexly structured. This activity appears to be specially organized by the state authorities jointly with public institutions and is aimed at increasing the effectiveness of the higher education sector in the context of the implementation of the goals and objectives of the state in a particular historical period of development. In the last decade, there has been a demand for educational services and a corresponding increase in the cost of financing higher education. The drivers of this increase were wage growth, the cost of modern infrastructure, and the slow response to rising costs. The decline in government revenue has led to more efficient use of resources and careful monitoring of research results, since the priority for the state is to strictly evaluate the results for their funding, and research funded by the private sector has clear goals. Universities in the updated system of values stimulate the development of society, implement the training of personnel required by the market. New challenges – the pandemic and the development of the digital economy-provide new opportunities for people focused on higher education, and at the same time change the education system itself and its financing mechanisms.
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Yeboah, Kwame Obiri, Nicholas Oppong Mensah, Isaac Tandoh, Kwame Assare Duffour, and Nana Jesse Telfa Roberts. "Determinants and Constraints of Agro-based SMEs Access to Finance: Evidence from Ghana." International Journal of Applied Research in Business and Management 4, no. 1 (April 2023): 211–32. http://dx.doi.org/10.51137/ijarbm.2023.4.1.10.
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This study explored the determinants and constraints of the access to finance of Agro Based SMEs in the Cape Coast Metropolis, Ghana. The research utilized primary data using a structured questionnaire. Sixty (60) SMEs in the Metropolis were selected using the simple random sampling technique. To ensure data reliability and validity, a pilot test was conducted for confirmation. Results show that Agro-based SMEs prefer personal savings as the first means of finance. Also, collateral, owner’s gender, sector of business, availability of audited financial statements, firm’s performance and firm size are the determinants of Agro-based SME’s access to financing. The major challenges faced by Agro-based SMEs in financing their businesses result conclude a lack of the expertise to prepare sophisticated financial statements, less repayment period, unclear financial plans to execute business, non-availability of enough MFIs and bureaucracy. It is recommended that Agro-based SMEs should cultivate the habit of savings personally to serve as the basis for their working capital so as to reduce over-reliance on banks and microfinance institutions. Additionally, Government interventions like MASLOC must be enhanced to allow more SME owners in SME businesses to access financing.
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Sahu, Ritankar. "Acquisition Financing in India: Working in an Emerging but Complex Market." Business Law Review 32, Issue 5 (May 1, 2011): 109–12. http://dx.doi.org/10.54648/bula2011029.
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While Indian corporates are aggressively expanding their horizons their counterparts offshore are acquiring in India. While availability of funds is a favourable driver for investments, it has been the structuring options devised for Indian acquirers which have enabled them to make acquisitions offshore. Nevertheless, such hurdles should not be seen as a deterrent. This article describes the issues and regulatory hurdles and provides an overview of corporate structures and agreements used in mergers, amalgamations and acquisitions before describing how Indian companies are allowed to access funds from abroad. It then looks into domestic sources of .finance, statutory restrictions on loans from Indian banks, limits on capital market exposure, structured instruments, Indian depository receipts, terms of .financing documents, taking security in India, inter-creditor arrangements and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002.
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Oldani, Chiara. "On the Perils of Structured Loans Financing in France and Italy." Global Policy 10, no. 3 (July 3, 2019): 391–96. http://dx.doi.org/10.1111/1758-5899.12686.
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Talha, Muhammad. "Green Financing and Sustainable Policy for Low Carbon and Energy Saving Initiatives: Turning Educational Institutes of China into Green." Engineering Economics 34, no. 1 (February 28, 2023): 103–17. http://dx.doi.org/10.5755/j01.ee.34.1.32837.
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To achieve a zero-carbon agenda, businesses in emerging economies need to focus on green production resources to develop a circular economy. This study identified the key role of green financing in mobilizing pro-environmental behaviours for achieving sustainable production and a circular economy. The study aimed to study the effect of green financing on the pro-environmental behaviours of educational institutes within China. A quantitative methodology was adopted, and structured questionnaires were used for the collection of data from educational sector employees. The data was collected from both administrators and teachers with a random sampling technique and was later analyzed through SEM. The results showed that green financing aids institutions in the implementation of pro-environmental behaviours and also sustainable policy development was found to mediate the association between low carbon management, carbon asset transactions, and energy saving and emission reduction technologies and green financing. This study makes valuable contributions to the literature on green financing, sustainable development, and pr-environmental behaviours. The findings can help the education sector to adopt sustainable practices. It may also contribute to helping policymakers develop policies related to pro-environmental behaviours. Furthermore, the paper explores the green financial aspect of educational institutes, making it a valuable resource for both theory and practice.
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Devi, Santi, and Lilis Marlina. "Strategi Penyelesaian Pembiayaan Bermasalah pada Akad Murabahah di Pt Bank Aceh Syariah Cabang Jeuram." Jurnal Ilmiah Ekonomi Terpadu (Jimetera) 4, no. 1 (January 31, 2024): 80. http://dx.doi.org/10.35308/jimetera.v4i1.8870.
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This research investigates the strategies for resolving problematic financing in murabahah contracts at PT Bank Aceh Syariah, Jeuram Branch, utilizing a qualitative approach. Primary data was collected through structured interviews and direct observation from February to May 2023. The study's focus includes the main requirements for customers in murabahah contracts, the application of the 5C principle, and methods for resolving problematic financing. The primary informants were the staff of Bank Aceh Syariah, Jeuram Branch, including Mr. Muhammad Junaidi, Mr. Nasrusdi, Mr. Teuku Asnawi, and Mr. Zikran Niam. The results indicate that the murabahah financing process requires comprehensive documentation and financial proof from customers. The application of the 5C principle, particularly focusing on the character of prospective customers, is a crucial step in creditworthiness assessment. Strategies for resolving problematic financing include restructuring stages such as rescheduling and reconditioning, as well as a musyawarah approach with customers. The bank also implements preventive and curative strategies, including comprehensive analysis and evaluation by Account Officers. As a final measure, the sale or auction of collateral is adopted as a resolution solution. In conclusion, the strategies applied by Bank Aceh Syariah, Jeuram Branch, in handling problematic financing demonstrate a comprehensive approach aligned with Sharia principles.
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Soediro, Achmad, Inten Meutia, and Liliana . "The Effectiveness of Bank Financing to the Productivity of Agriculture Sector in South Sumatera." JURNAL MANAJEMEN DAN BISNIS SRIWIJAYA 15, no. 3 (June 12, 2018): 156–63. http://dx.doi.org/10.29259/jmbs.v15i3.5716.
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Purpose – This study aims to identify the effect of financing provided by banks (both conventional and Islamic bank) to the productivity in the agricultural sector in South Sumatera. This study analysed the forms and mechanisms of finance used by bank in order to find out whether the financing provides the benefit effectively in supporting the productivity of the agricultural sector in South Sumatra or not.Design/methodology/approach – The research used the preliminary data to trace the number of the debtor farmers. The data is from both conventional and Islamic banks in South Sumatera which distributed financing product to MSMEs in Agriculture sector. The secondary data collection was obtained from the banks while primary data was grounded from farmers both through the structured questionnaires and the depth interview. The analysis of this research is in both the descriptive quantitative and the qualitative methods.Findings – The financing in the agricultural sector in South Sumatra is relatively effective for farmers both in terms of increasing their financial gains and in terms of expanding the agricultural property.The results of this study are expected to give the significant figure about how far the financing product of the banks contributes to the increase of productivity of the agricultural sector in South Sumatera.Research limitations/implications – Effectiveness is analyzed by qualitative and descriptive quantitative methods in general, not included in the analysis per farmer. In addition, this study does not use financial ratios in measuring the effectiveness of the provision of financing.Originality/value – The effectiveness of financing in the agricultural sector, especially in sharia banking in Indonesia is still relatively minimal. This research is one way to initiate research which is expected to contribute to the implementation of wider sharia financing in the agricultural sector which now seems not to be the priority of the sharia banking sector in Indonesia.
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Julius, Christine Mawia, and Timothy Chrispinus Okech. "Influence of infrastructure financing on financial sustainability of water service providers in Kenya." European Journal of Management Issues 29, no. 1 (March 25, 2021): 12–24. http://dx.doi.org/10.15421/192102.
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Purpose. To establish the influence of infrastructure financing on financial sustainability of water service providers (WSPs) in Kenya.
Design/Method/Research approach. The study adopted the pragmatism research philosophy and an explanatory sequential mixed design targeting some senior managers selected from the eighty-eight registered WSPs in Kenya. A structured questionnaire was used to collect the quantitative data while an interview schedule was used to collect the qualitative data from key informants. The data analysis was done on the bases of descriptive and inferential statistics; the nature and size of relationship was tested using correlation and the regression analysis while the results are presented using tables and graphs.
Findings. The study concludes that Infrastructure financing has a positive and statistically significant influence on financial sustainability of WSPs in Kenya.
Theoretical implications. The research proves that infrastructure financing has a statistically significant effect on financial sustainability of WSPs in Kenya.
Practical implications. Taking into account the findings, it is recommended that the National government via the National treasury and WWDAs should ensure that all funding proposals capture end-to-end financing so as to increase the last mile connectivity.
Social implications. The study also identifies the need for the Ministry of Water, Sanitation and Irrigation (MWSI) to collaborate with key stakeholders in order to tap into local resources and development grants.
Originality/Value. The study makes a unique contribution by establishing that infrastructure financing significantly influences financial sustainability of water service providers in Kenya.
Research limitations/Future research. There is need to explore the possibility partnerships with communities and NGOs as the sector is highly indebted and unable to service the current loan portfolio.
Paper type. Empirical.
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Hussain, Javed, Navjot Sandhu, Hatem El-Gohary, and David J. Edwards. "The Reality of Financing Small Tourism Firms." International Journal of Customer Relationship Marketing and Management 11, no. 1 (January 2020): 64–80. http://dx.doi.org/10.4018/ijcrmm.2020010105.
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Small tourist firms occupy an important place within the Indian tourism industry and make a significant contribution towards gross domestic production. This study investigates access to and finance preferences of SME tourism firms in the Punjab area, India. The study employed a post-positivist research approach depending on semi-structured questionnaires and interviews. The findings confirmed that tourism firms relied on pecking order trajectory, drawing capital from own savings, family and informal lenders, which is consistent with the literature. The study provides a unique insight into issues related to tourism firms and benchmarks findings with SME literature to identify the salient points.
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Romih, Dejan. "Project Finance." Lex localis - Journal of Local Self-Government 6, no. 2 (September 2, 2009): 171–81. http://dx.doi.org/10.4335/48.
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Project finance is enjoying renewed attention as a financing technique in which the lenders look primarily to the cash-flow of a project as the main source of loan reimbursement, whereas assets represent only collateral. Owing to the general misunderstanding of the terms used in respect of project finance, the purpose of the paper will be to provide clear definitions, drawing attention to different project finance transactions that can be placed on a continuum, with recourse to project sponsors ranging from non-recourse to almost complete recourse. Several characteristics of project finance will also be addressed.
KEY WORDS: • financial economics • structured finance • project finance • non-recourse and limited recourse debt • special purpose vehicle • highly leveraged capital structure
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J. C., Ihemeje, Efanga Udeme Okon, Umoh Emmanuel Alphonsus, Okafor M. C., and Egwu Emmanuel Makoji. "Achieving Sustainable Development in Business Productivity in Nigeria: An Equity Financing Model Approach." International Journal of Economics and Financial Research, no. 611 (November 7, 2020): 249–56. http://dx.doi.org/10.32861/ijefr.611.249.256.
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Equity financing is one of the sources of funding available to non-bank financial institutions which is quite prevalent in developed financial markets for small or start-up firms. This study empirically determined the effect of the Equity Financing Scheme on a sustainable increase in productivity of agro-allied small businesses in Nigeria. Data for this study were elicited through the use of a questionnaire structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that the equity financing scheme had a positive and significant effect on the sustainable productivity of agro-allied small businesses in South-South Nigeria. The study recommended that efforts should be made to educate the small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
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Wonglimpiyarat, Jarunee. "Challenges of SMEs innovation and entrepreneurial financing." World Journal of Entrepreneurship, Management and Sustainable Development 11, no. 4 (October 12, 2015): 295–311. http://dx.doi.org/10.1108/wjemsd-04-2015-0019.
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Purpose – Today, the financing mechanisms to support small-and medium-sized enterprises (SMEs) development have been a subject of great interest and a challenge to policy makers as SMEs are regarded as an important sector contributing to economic growth and stability. This paper is concerned with the bank financing policies to support SME development in China. The purpose of this paper is to examine the governmental financing policies and the innovation financing system of China. The discussions are focused on the bank financing policies to support SME development in China. Design/methodology/approach – This study is a qualitative research with the use of case study methodology (Eisenhardt, 1989; Yin, 2003). The research is focused on the policy perspectives of bank financing to support SME development in the case of China, the world’s fastest-growing economy. To explore the role of financial institutions and banks in SME financing in China, the research also derives evidence from a collection of documentary investigation. The research fieldwork and interviews were undertaken in Beijing and Shanghai, major financial centers in China, with the use of semi-structured questionnaire. The analyses are undertaken to answer the key questions of: What are the Chinese government’s strategies to support the development of SMEs? To what extent the government policies in bank financing can support SMEs and promote the development of an innovative economy? Findings – The empirical study has shown that despite the introduction of the 12th Five-Year National Economic and Social Development Plan to support SMEs development, China still needs to improve regulatory policies in support of innovative businesses which would help its transition to an innovation-driven economy. The study provides lessons and policy guidelines to improve the competitiveness of SMEs in China. The insights from this study can also be applied to other developing and emerging economies attempting to understand the role of financing mechanisms in building an innovative economy. Originality/value – The study has addressed the policy challenges to support SME development in China, a major Asian emerging country and one of the fastest-growing economies in the world (with averaged growth rate of 10 percent per annum). The empirical study of policy challenges was undertaken in Beijing and Shanghai, major financial centers in China. The study offers insights which can be applied to other developing and emerging economies attempting to understand the role of SME financing policies and mechanisms in building an innovative economy.
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Molchanova, Svetlana M., and Valeria A. Bredikhina. "THE ROLE OF FINANCIAL PLANNING IN INVESTMENT STRATEGIES." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 2/3, no. 143 (2024): 63–69. http://dx.doi.org/10.36871/ek.up.p.r.2024.02.03.008.
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The article reveals the role of financial planning in investment strategies, as an integral element of successful management of an organization in a modern economy, which allows one to formulate the organization’s investment goals, determine the direction of financial resources and evaluate the expected economic effect. The authors characterize the methods of financial analysis in the context of financial planning and practical implementation at the enterprise in accordance with the organization’s development strategy. The investment goals that the organization sets for itself when implementing investment strategies are structured in tabular form. The importance of integrating investment aspects in financial planning is emphasized, taking into account the influence of digital tools on the demand for the company’s products and services. The importance of financial planning for making informed management decisions when choosing optimal investment instruments and sources of financing that allow an enterprise to effectively manage risks, optimize the capital structure and orient strategic priorities in accordance with the transformation of the business environment is summarized.
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Cai, Tianming. "Measurement and Analysis of the Competitiveness of China Commercial Bank’s Loan Market." Mathematical Problems in Engineering 2020 (August 10, 2020): 1–10. http://dx.doi.org/10.1155/2020/2675864.
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China’s economy presents a new normal of speed changes, structural optimization, and power conversion. Deepening supply-side reforms and controlling financial risks are two prominent themes of current economic work. With the economic growth slowing down and the financing environment tightening, the credit risk of the banking industry is being exposed more quickly. This article uses a structured method and an unstructured method to measure the competitiveness of China commercial bank credit market. The structured method uses the HHI (Herfindahl–Hirschman Index), and the unstructured method uses the Lerner Index. This article compares the sample banks’ 2008–2015 industry loan total HHI and Lerner Index. The results of HHI and Lerner Index are basically the same, which indicate that the competitiveness of the China commercial bank credit market is generally at a low level. However, the Lerner Index has a clear upward trend after 2014, which indicates the possibility of increased competition in the credit market.
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Shyla Marie Abairo Cruzado, Imee Dhell Mutya Dimaano, Ritchelle Lou Libante Manahan, Jasmine Celerio Medes, and Russell Villena Villarma. "Financial constraints: Its impact on access to financing of micro, small, and medium businesses in Calapan City." World Journal of Advanced Research and Reviews 18, no. 2 (May 30, 2023): 271–80. http://dx.doi.org/10.30574/wjarr.2023.18.2.0792.
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Micro, small, and medium-sized enterprises (MSMEs) play an important role in a country's progress, particularly in the Philippines. Lack of access to finance has been identified as the most severe hindrance to MSMEs' growth and development. Thus, the purpose of this study is to evaluate the awareness of MSMEs in accessing finances and know their capacity to handle financial constraints. The factors discussed were the structure of the financial sector, awareness of funding opportunities, collateral requirements, and small business support services. The research focused on a sample size of 363 MSMEs. The research design of this study is quantitative since the research questions seek to answer and lead to numerical data. The researchers used a descriptive research method as it seeks to ascertain if there is a significant relationship between financial constraints and MSMEs' access to finance in Calapan City. Self-structured questionnaires were used to collect the primary data. By examining the factors or indicators of the study, the researchers found that financial constraints such as collateral requirements, small business support services, the structure of financial institutions, and awareness of funding opportunities, had a significant relationship towards accessing finance of MSMEs in Calapan City. Therefore, the study suggested that MSMEs should look for a financial institution that provides loan products and services that are consistent with their demands for business funding. Business owners should improve their financial management abilities by attending government-provided training and seminars. Further studies are highly recommended to discover other factors affecting MSMEs' financing access.
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Amadhila, Elina, and Sylvanus Ikhide. "Unfulfilled loan demand among agro SMEs in Namibia." South African Journal of Economic and Management Sciences 19, no. 2 (May 13, 2016): 264–81. http://dx.doi.org/10.4102/sajems.v19i2.1398.
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Using a qualitative methodology approach, a case study research design by way of in-depth semi-structured interview(s) was followed to interview farmers, commercial banks, development banks, venture capitals and private equities to determine the financing options available for farmers and provide reasons why some financial institutions shy away from providing finance to agricultural enterprises. This study deviates from prior studies which have focused on small-scale farmers and subjected farmers’ access to finance to rural credit markets, mostly informal money lenders using secondary information mostly from household surveys to build econometric models. The study indicates that only about 33 percent of formal financial institutions are providing finance to agricultural SMEs. The lack of expertise and perception of risk were cited as top reasons why formal financial institutions find it hard to provide finance to agricultural SMEs. Building on opinions from other authors cited in this paper, we maintain that new financing mechanisms can be achieved by all types of financial institutions through learning from experiences by other successful countries.