The financial crisis undoubtedly exerted a pressure on the companies operating in Poland. Thus, it is important to undertake researches that reveal the paths and strength of the transmission of financial crisis with r...The financial crisis undoubtedly exerted a pressure on the companies operating in Poland. Thus, it is important to undertake researches that reveal the paths and strength of the transmission of financial crisis with regard to the business entities. This paper presents partial results of the researches dedicated to the analysis of the impact of financial crisis on the financial situation of companies operating in Silesian Region in Poland. It analyses and discusses the general changes in the financial ratios that inform about the company＇s financial liquidity and the level of liquidity risk. As a research paper, it aims at justifying hypotheses about the changes of liquidity and liquidity risk in companies operating in Poland, Silesian Region within the period of 2006-2009. The tested hypotheses generally indicate the decrease of liquidity in the aftermath of crisis and a worse situation in the Silesian Region, as compared to the national level. The study is based on an application of a part of authors＇ self-developed method--the CFS Watch （Corporate Financial Situation Watch）, which consists of five analytical modules. In this study, one module is applied： the FLA Module （Financial Liquidity Analysis） with regard to financial liquidity and the level of liquidity risk. The research is based on the data collected by the Polish Central Statistical Office. The analysis of FLA Module is based on two samples of companies： companies operating in the Silesian Region （denoted as the MEPP sample）, and companies operating in Poland （denoted as the MAPP sample）. This allows developing a comparative analysis between regional and national dimension. The results of the study represent an interesting starting point for further comparative researches based on the analysis of the changes in the level of liquidity and liquidity risk of companies operating in different countries. It may form a base for finding similarities or differences in their financial situation in the aftermath of the financial crisis. The CFS Watch method in terms of the liquidity can be widely applied to make the results comparable.展开更多
The theme of trafficking of human beings treats one of the most severe and dangerous criminal phenomena of the organized crime in Albania. The objects of this paper are： human trafficking; ways of trafficking; risk o...The theme of trafficking of human beings treats one of the most severe and dangerous criminal phenomena of the organized crime in Albania. The objects of this paper are： human trafficking; ways of trafficking; risk of Albanian society; and investment of the criminal benefits deriving from trafficking in legal economic activities, it is of great importance for the treatment of proactive investigations to the trafficking of human beings. Another important aspect of the trafficking investigations is the investigation of criminal assets and the way how they are used in the economy of the country. In this paper, we stress that the investigation of criminal assets benefited by the crime of trafficking human beings as well as other wealth financed by these assets is important as the investigation of the criminal activity of trafficking itself. Also, we aim to evaluate the necessity of acting of all law enforcement agencies and other state institutions in order to be successful in the fight against the crime of trafficking of human beings. At the end of this paper, we do treat the necessity and the ways of collaboration of law enforcement agencies, NGOs, and structures of local government for rehabilitation of the victims of trafficking and their integration in the social life.展开更多
After building a dynamic evolutionary game model, the essay studies the stability of the equilibrium in the game between the commercial banks and the closed-loop supply chain(CLSC) enterprises. By design of systematic...After building a dynamic evolutionary game model, the essay studies the stability of the equilibrium in the game between the commercial banks and the closed-loop supply chain(CLSC) enterprises. By design of systematic mechanism based on system dynamics theory, capital chains of independent small and medium-sized enterprises(SMEs) on CLSC are organically linked together. Moreover, a comparative simulation is studied for the previous independent and post-design dependent systems. The study shows that with business expanding and market risk growing, the independent finance chains of SMEs on CLSC often take on a certain vulnerability, while the SMEs closed-loop supply chain finance system itself is with a strong rigidity and concerto.展开更多
This paper considers the dividend problems in the perturbed compound Poisson risk model.Assume that dividends can only be paid at the observation time when the surplus exceeds the barrier level and the excess is paid ...This paper considers the dividend problems in the perturbed compound Poisson risk model.Assume that dividends can only be paid at the observation time when the surplus exceeds the barrier level and the excess is paid as dividend.In this paper,integro-differential equations for the expected discounted dividends until ruin and the Laplace transform of ruin time are firstly derived.When the claim is exponentially distributed,explicit expressions for the expected discounted dividends until ruin and the Laplace transform of ruin time are also obtained.Finally,the optimal dividend barrier which maximizes the expected discounted dividends until ruin is given.展开更多
文摘The financial crisis undoubtedly exerted a pressure on the companies operating in Poland. Thus, it is important to undertake researches that reveal the paths and strength of the transmission of financial crisis with regard to the business entities. This paper presents partial results of the researches dedicated to the analysis of the impact of financial crisis on the financial situation of companies operating in Silesian Region in Poland. It analyses and discusses the general changes in the financial ratios that inform about the company＇s financial liquidity and the level of liquidity risk. As a research paper, it aims at justifying hypotheses about the changes of liquidity and liquidity risk in companies operating in Poland, Silesian Region within the period of 2006-2009. The tested hypotheses generally indicate the decrease of liquidity in the aftermath of crisis and a worse situation in the Silesian Region, as compared to the national level. The study is based on an application of a part of authors＇ self-developed method--the CFS Watch （Corporate Financial Situation Watch）, which consists of five analytical modules. In this study, one module is applied： the FLA Module （Financial Liquidity Analysis） with regard to financial liquidity and the level of liquidity risk. The research is based on the data collected by the Polish Central Statistical Office. The analysis of FLA Module is based on two samples of companies： companies operating in the Silesian Region （denoted as the MEPP sample）, and companies operating in Poland （denoted as the MAPP sample）. This allows developing a comparative analysis between regional and national dimension. The results of the study represent an interesting starting point for further comparative researches based on the analysis of the changes in the level of liquidity and liquidity risk of companies operating in different countries. It may form a base for finding similarities or differences in their financial situation in the aftermath of the financial crisis. The CFS Watch method in terms of the liquidity can be widely applied to make the results comparable.
文摘The theme of trafficking of human beings treats one of the most severe and dangerous criminal phenomena of the organized crime in Albania. The objects of this paper are： human trafficking; ways of trafficking; risk of Albanian society; and investment of the criminal benefits deriving from trafficking in legal economic activities, it is of great importance for the treatment of proactive investigations to the trafficking of human beings. Another important aspect of the trafficking investigations is the investigation of criminal assets and the way how they are used in the economy of the country. In this paper, we stress that the investigation of criminal assets benefited by the crime of trafficking human beings as well as other wealth financed by these assets is important as the investigation of the criminal activity of trafficking itself. Also, we aim to evaluate the necessity of acting of all law enforcement agencies and other state institutions in order to be successful in the fight against the crime of trafficking of human beings. At the end of this paper, we do treat the necessity and the ways of collaboration of law enforcement agencies, NGOs, and structures of local government for rehabilitation of the victims of trafficking and their integration in the social life.
基金the Natural Science Research Fund of Hubei Province(No.2014BDH121)
文摘After building a dynamic evolutionary game model, the essay studies the stability of the equilibrium in the game between the commercial banks and the closed-loop supply chain(CLSC) enterprises. By design of systematic mechanism based on system dynamics theory, capital chains of independent small and medium-sized enterprises(SMEs) on CLSC are organically linked together. Moreover, a comparative simulation is studied for the previous independent and post-design dependent systems. The study shows that with business expanding and market risk growing, the independent finance chains of SMEs on CLSC often take on a certain vulnerability, while the SMEs closed-loop supply chain finance system itself is with a strong rigidity and concerto.
基金supported by the National Natural Science Foundation of China under Grant No.11371321the Key Research Base for Humanities and Social Sciences of Zhejiang Provincial High Education Talents(Statistics of Zhejiang Gongshang University)
文摘This paper considers the dividend problems in the perturbed compound Poisson risk model.Assume that dividends can only be paid at the observation time when the surplus exceeds the barrier level and the excess is paid as dividend.In this paper,integro-differential equations for the expected discounted dividends until ruin and the Laplace transform of ruin time are firstly derived.When the claim is exponentially distributed,explicit expressions for the expected discounted dividends until ruin and the Laplace transform of ruin time are also obtained.Finally,the optimal dividend barrier which maximizes the expected discounted dividends until ruin is given.
