Economics 21

More titles

• 

  IMPROVING THE CAPITAL STRUCTURE OF BANKS

  This study examines the possibilities for improving the capital structure of banks through analysis of various combinations of long-term debt and equity. The theoretical thesis that banks should maintain a positive capital structure has not been ignored for a single moment in the reflections below. Yet, applied techniques and methods indicate that ... This study examines the possibilities for improving the capital structure of banks through analysis of various combinations of long-term debt and equity. The theoretical thesis that banks should maintain a positive capital structure has not been ignored for a single moment in the reflections below. Yet, applied techniques and methods indicate that contemporary banking is predominantly based on negative capital structure in which a single unit of equity attracts multiple units of loan capital until reaching maximum levels beyond which the regulatory proportions for funding of banking business are violated. Quite logically, attention is paid to banking risk with reference to banks performance and the efficiency of capital utilisation. In parallel, financial leverage is applied to maximize bank earnings. Through the DuPont model, the capital management of banks develops a systematic tool for measuring the efficiency of decisions related to the development of the financial leverage effect. Based on this a model for the optimization of commercial banks is designed to facilitate bank managers in making efficient financial decisions, which take into consideration market capitalization and the cost of long-term capital resources

• 

  OPTIMISATION OF TRANSPORTATION COSTS FOR DELIVERY OF HOMOGENOUS COMMODITY TO CONSUMERS ALONG THE LOGISTICS CHAIN

  This study examines some issues related to the mathematical modeling of shipment activities for homogenous products along the logistics chain and the economic-mathematical analysis of possibilities for its optimization. To this end, economic and mathematical models are suggested for the efficient management of transportation costs and costs ... This study examines some issues related to the mathematical modeling of shipment activities for homogenous products along the logistics chain and the economic-mathematical analysis of possibilities for its optimization. To this end, economic and mathematical models are suggested for the efficient management of transportation costs and costs arising in result of failure to meet the demand of certain consumers. Special attention has been paid to linear and non-linear models in an attempt to formalize the subjective attitude of managers in result of the objective impact of potential losses or the priority given to them due to the shortage of the output to be delivered. The practical need of and the options for applying the proposed economic-mathematical models are presented through comparative analysis and identifying the advantages of certain models through theoretical results based on a specific example from real business practice, which is evidence of their practical significance.

• 

  ANALYSIS OF THE AUTODETERMINATION COEFFICIENT STATISTICAL SIGNIFICANCE

  The study examines the issue of estimating the statistical signifi¬can¬ce of the autodetermination coefficient. The features of the proposed estimate are identified – bias, efficiency, consistency and sufficiency, and their relation¬ship with the length of the time series and the number of the autocorrelation coeffi¬cients used. Two approaches are ... The study examines the issue of estimating the statistical signifi¬can¬ce of the autodetermination coefficient. The features of the proposed estimate are identified – bias, efficiency, consistency and sufficiency, and their relation¬ship with the length of the time series and the number of the autocorrelation coeffi¬cients used. Two approaches are proposed for testing the statistical signifi¬can¬ce hypothesis. The first one is used in long time series and involves calcu¬lating the properties of the Wald test (W), the likelihood ratio test (LR) and the Lagrange multiplier test (LM). The second approach is used in short time series on the basis of tabulated boundary values of the autodetermination coeffi¬cient. The study proposes an analysis scheme which was used in stu¬dying the time series of the main indicators of Bulgaria’s demographic develop¬ment for the period 1930 – 2011.