Econometric models have not been widely used for thorough analysis of the statistics published by banks. The paper presents the results of analyses of Estonian Banking, made by the authors during the last seven years....Econometric models have not been widely used for thorough analysis of the statistics published by banks. The paper presents the results of analyses of Estonian Banking, made by the authors during the last seven years. Earlier results have been published in a number of collections of research articles and have been reported on international conferences worldwide （in Mexico, South Africa, Egypt, Poland, Check Republic, Chile, China, and USA, etc.）. From econometric models, the Cobb-Douglas production function with income-earning assets, equity, liabilities and fixed assets as inputs was selected. The time period chosen is from the first quarter of 1995 to the fourth quarter of 2008 that is a total of 56 periods. The balance sheets and income statements published quarterly by the banks were used as the empirical base of analysis.展开更多
One of the most important issues relating to the economic activity of an enterprise is a reliable valuation of assets. It is also one of the key elements in the condition of bankruptcy risk. The aim of this paper is t...One of the most important issues relating to the economic activity of an enterprise is a reliable valuation of assets. It is also one of the key elements in the condition of bankruptcy risk. The aim of this paper is to present the results of the author＇s empirical research concerning the usefulness of the estimates in the valuation of fixed assets held by the enterprises facing bankruptcy. The empirical research was carried out on a group of 100 companies on which courts declared bankruptcy in 2011 in Poland. The study sample constitutes 14% of the population and is a significant representation of the phenomenon. For comparisons of the carrying amounts and the estimated values, the assets recognized in the balance sheet under ＂property, plant, and equipment （PPE）＂ were selected. During the first stage of the research, the significance of PPE in bankruptcy proceedings was confirmed by comparing the share of their value within the estate with the costs of the proceedings recorded as a percentage of the value of the debtor＇s estate. In the next stage of the research, comparisons between the carrying amounts and the estimated values were made. Simple regression models were constructed. The research results confirm that in the case of a substantial doubt about an entity＇s ability to continue as a going concern, the informative value of financial statements is limited and the estimates of the fixed assets value are of fundamental importance.展开更多
The machinery, equipment, inventory, and other assets of the 21 st century company without people to work them. Corporations, by leave of the accounting profession, have no real economic value continue to omit the val...The machinery, equipment, inventory, and other assets of the 21 st century company without people to work them. Corporations, by leave of the accounting profession, have no real economic value continue to omit the value of human. And yet, there is a growing realization that people represent the largest proportion of corporate productive capacity relative to the current assets and fixed assets shown in corporate financial statements. This paper provides research on the top 50 of the Fortune 500 companies which confirm this material deficiency. There is a need to provide stakeholders with a ＂fair＂ knowledge of the value of corporate human capital to provide a higher standard of transparency and accountability in international financial reporting and to provide the basis for research into the sustainability and potential expansion of growth in the world economy. An appropriate standard for the valuation of human capital will provide the knowledge base for effective and efficient investment in human capital. Effective and efficient investment will be particularly valuable for governments and service industries and for those who wish to promote growth in Europe. Indeed, the Organization for Economic Cooperation and Development （OECD） is questioning the veracity of financial statements which fail to include ＂the most valuable＂ of corporate assets in their financial statements. Recently, the OECD has noted that human capital may be measurable ＂by the output potential of specific competencies＂; ＂the fruits of （corporate） investment＂; the objective measurement of the market ＂rental＂ price of human capital; and lastly, perhaps self-evident when it comes to physical capital, the output potential of corporate investment in their human capital inventory. This paper considers the conditions in the context of literature which reassesses theory and assumptions which have been made on the valuation of human capital. Human capital is a pre-requisite for tangible assets to be productive. The valuation of human capital will trigger the same sort of activity-based analysis of people power as computers brought to cost accounting. The knowledge century analysis of people power will take off when human capital is at last included in the list of assets on the corporate balance sheet.展开更多
文摘Econometric models have not been widely used for thorough analysis of the statistics published by banks. The paper presents the results of analyses of Estonian Banking, made by the authors during the last seven years. Earlier results have been published in a number of collections of research articles and have been reported on international conferences worldwide （in Mexico, South Africa, Egypt, Poland, Check Republic, Chile, China, and USA, etc.）. From econometric models, the Cobb-Douglas production function with income-earning assets, equity, liabilities and fixed assets as inputs was selected. The time period chosen is from the first quarter of 1995 to the fourth quarter of 2008 that is a total of 56 periods. The balance sheets and income statements published quarterly by the banks were used as the empirical base of analysis.
文摘One of the most important issues relating to the economic activity of an enterprise is a reliable valuation of assets. It is also one of the key elements in the condition of bankruptcy risk. The aim of this paper is to present the results of the author＇s empirical research concerning the usefulness of the estimates in the valuation of fixed assets held by the enterprises facing bankruptcy. The empirical research was carried out on a group of 100 companies on which courts declared bankruptcy in 2011 in Poland. The study sample constitutes 14% of the population and is a significant representation of the phenomenon. For comparisons of the carrying amounts and the estimated values, the assets recognized in the balance sheet under ＂property, plant, and equipment （PPE）＂ were selected. During the first stage of the research, the significance of PPE in bankruptcy proceedings was confirmed by comparing the share of their value within the estate with the costs of the proceedings recorded as a percentage of the value of the debtor＇s estate. In the next stage of the research, comparisons between the carrying amounts and the estimated values were made. Simple regression models were constructed. The research results confirm that in the case of a substantial doubt about an entity＇s ability to continue as a going concern, the informative value of financial statements is limited and the estimates of the fixed assets value are of fundamental importance.
文摘The machinery, equipment, inventory, and other assets of the 21 st century company without people to work them. Corporations, by leave of the accounting profession, have no real economic value continue to omit the value of human. And yet, there is a growing realization that people represent the largest proportion of corporate productive capacity relative to the current assets and fixed assets shown in corporate financial statements. This paper provides research on the top 50 of the Fortune 500 companies which confirm this material deficiency. There is a need to provide stakeholders with a ＂fair＂ knowledge of the value of corporate human capital to provide a higher standard of transparency and accountability in international financial reporting and to provide the basis for research into the sustainability and potential expansion of growth in the world economy. An appropriate standard for the valuation of human capital will provide the knowledge base for effective and efficient investment in human capital. Effective and efficient investment will be particularly valuable for governments and service industries and for those who wish to promote growth in Europe. Indeed, the Organization for Economic Cooperation and Development （OECD） is questioning the veracity of financial statements which fail to include ＂the most valuable＂ of corporate assets in their financial statements. Recently, the OECD has noted that human capital may be measurable ＂by the output potential of specific competencies＂; ＂the fruits of （corporate） investment＂; the objective measurement of the market ＂rental＂ price of human capital; and lastly, perhaps self-evident when it comes to physical capital, the output potential of corporate investment in their human capital inventory. This paper considers the conditions in the context of literature which reassesses theory and assumptions which have been made on the valuation of human capital. Human capital is a pre-requisite for tangible assets to be productive. The valuation of human capital will trigger the same sort of activity-based analysis of people power as computers brought to cost accounting. The knowledge century analysis of people power will take off when human capital is at last included in the list of assets on the corporate balance sheet.
