Періодичні видання СумДУ
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Item The global crisis, government contracts, licensing and corruption(Academic Research and Publishing UG, Germany, 2023) Kaya, H.D.This paper summarizes the arguments and counterarguments within the scientific discussion on the issue of corruption. The main purpose of the research is to examine the impact of global economic/financial crisis on corruption. We focus on manufacturing firms in the EECA region and examine their activities including bidding for government contracts, applying for an operating license, and applying for an import license. Systematization of the literary sources and approaches for solving the problem indicates that bribes got significantly smaller after the crisis ended. The relevance of this scientific problem decision is that governments’ efforts to improve the overall business environment when facing an economic/financial crisis help reduce corruption. Investigation of corruption in the paper is carried out in the following logical sequence: First, the size of bribes for securing government contracts is examined. Then, the prevalence of bribery during import license application process is examined. Finally, the prevalence of bribery during operating license application process is examined. Methodological tools of the research methods were non-parametric tests that compare the years of 2007 and 2010-2014. The research object is manufacturing firms in the EECA region because they were included in the BEEPS IV and BEEPS V manufacturing surveys. The research empirically confirms and theoretically proves that governments’ actions during an economic or financial crisis affect the size and prevalence of bribery. The research results can be useful for government officials that plan on reducing corruption in their region or countryItem The Impact of the 2008-2009 Global Crisis on Loan Applications and Access to Finance(Sumy State University, 2023) Kaya, H.D.У цьому дослідженні ми вивчаємо нові заявки на кредити, подані виробничими компаніями зі Східної Європи та Центральної Азії. Ми порівнюємо заявки на кредити до та після світової кризи. Ми виявили, що менше виробників подали заявки на новий кредит після кризи (45,89% проти 29,91%). Коли ми порівнюємо основні причини, через які виробники не звертаються за новою позикою до та після кризи, ми виявимо, що після кризи більше компаній заявили, що в позиці не було потреби. Крім того, більше компаній заявили, що процедури подання заявок були складними, відсоткові ставки несприятливими, і вони не вірили, що це буде схвалено. З іншого боку, менше виробників стверджували, що після кризи вимоги до застави були надто високими, розмір кредиту та термін погашення недостатніми, і необхідно було здійснювати неофіційні платежі (тобто корупція). Загалом наші висновки свідчать про те, що хоча деякі аспекти фінансування для виробників покращилися після кризи, інші погіршилися. Ми також виявили, що відбулося статистично значуще зниження відсотка виробників, фінансові звіти яких перевірив/сертифікував зовнішній аудитор. Нарешті, після кризи виробники вважали «доступ до фінансування» меншою перешкодою. Ми робимо висновок, що причиною того, що менше виробників зверталися за новою позикою після кризи, були не всі заходи «доступу до фінансування»; це була скоріше відсутність потреби в новому кредиті та певні аспекти «Доступу до фінансування».Item The global crisis, manufacturing firms, regulations and taxes(Sumy State University, 2022) Kaya, H.D.In this study, we focus on how regulations and taxes affect manufacturing firms in Eastern Europe and Central Asia. We examine whether overall regulations became a bigger obstacle to these firms after the 2008- 2009 Global crisis. We also examine whether tax inspections became a bigger obstacle after the Global crisis. Besides regulations and tax inspections, we also look into the prevalence of corruption related to tax officials before and after the Global crisis. Using two large datasets (i.e. the BEEPS IV and BEEPS V surveys), we are able to compare the pre-crisis period to the post-crisis period. Our results show that, in this region, post-crisis, senior managers spent more time on dealing with overall regulations which includes tax-related regulations and other types of regulations. Therefore, we can conclude that, post-crisis, regulations became a bigger obstacle to manufacturing firms’ operations. We also find that, post-crisis, there was a significant drop in the percentage of firms that had inspections or meetings with tax officials. Also, post-crisis, each firm on average, had fewer inspections or meetings with tax officials. Therefore, while overall regulations became a bigger obstacle to these firms, tax inspections became a smaller problem. When we examine corruption, we find that there was no significant change in the prevalence of bribes related to tax officials. Before and after the Global crisis, a similar percentage (8-9%) of manufacturing firms had to deal with bribe requests by tax officials. Future studies may focus on other types of regulations which include employment regulations, health and safety regulations, licensing regulations, environmental regulations, and zoning regulations, and the corruption related to these regulations.Item The Impact of the 2008-2009 Global Crisis on Manufacturing Firms’ Fixed Asset Purchases: The Case of Eastern Europe and Central Asia(Sumy State University, 2022) Kaya, H.D.; Engkuchik, E.NWe examine the impact of the 2008-2009 Crisis on two dimensions of manufacturing firms in Eastern Europe and Central Asia, i.e., receivables collection (whether the customers pay after the delivery rather than before or on the date of delivery) and financing of manufacturing firms’ fixed asset purchases (what type of financing they used before and after the 2008-2009 Crisis). We use the Business Environment and Enterprise Performance Survey (BEEPS), i.e., BEEPS IV and BEEPS V data to represent the pre-Crisis and post-Crisis periods respectively. Our analysis indicates that the percentage of purchases paid by the customers of the manufacturing firms significantly decline from the pre-Crisis to the post-Crisis period. This finding suggests that manufacturing firms tighten their payment policies and are not as lenient with their customers post-Crisis. In addition, we find that the percentage of manufacturing firms’ fixed asset purchases paid for by internal financing significantly increases, whereas the percentage of fixed asset purchases paid for by owner’s contribution and supplier credit significantly decline post-Crisis. These findings suggest that as a result of the 2008-2009 Crisis, manufacturing firms in these countries seem to rely more on internal funding which may be due to tighter availability of external sources or drainage of shareholders funds (not enough cash) post-Crisis.Item Economic Crises And Entrepreneurship: A Comparison Of Developed And Less Developed Countries(Sumy State University, 2021) Kaya, H.D.This paper examines the change in entrepreneurial activity in developed and less developed countries during the period surrounding the 2008-2009 Global Crisis. The paper also examines how several entrepreneurship-related factors including costs, taxes, number of procedures, legal rights and credit coverage had changed for the two groups of countries after the Global Crisis. For the developed nations, we find that most factors had not significantly changed from the pre-crisis period to the post-crisis period.Item The Determinants Of Primary Employment In U.S. States(2021) Kaya, H.D.We examine the relationship between `primary employment` and `business friendliness` of U.S. states. Do states with a low score in `business friendliness` worry small business owners too much and hence force them to run their business as their primary job? We look at several main components of `business friendliness` including `Ease of start`, `Ease of hire`, `Overall regulations`, and `Training and networking`.Item The Perception of Corruption Among Retailers in Central Asia and Eastern Europe During and After the 2008 Crisis(Sumy State University, 2021) Kaya, H.D.; Engkuchik, E.N.S.In this study, we examine how the 2008-2009 Global Crisis has affected the informal payments/gifts paid by retailers in Eastern Europe and Central Asia. We look at the overall incidence of bribes, the incidence of bribes in customs/imports, the incidence of bribes in courts, and the incidence of bribes in tax payments. We compare the crisis period to the post-crisis period and found that these firms believed that the incidence of bribes went down significantly after the crisis ended.Item The Impact of Regulations on Small Firm Characteristics(Sumy State University, 2021) Kaya, H.D.Regulations are shown to have a significant impact on entrepreneurial activity, especially on startups by smaller firms. Higher compliance costs are shown to deter small firms entering a new industry. In this study, using state-level regulation data in the U.S., we examine whether different types of regulations (including “health and safety regulations”, “employment regulations”, “tax code”, “licensing regulations”, “environmental regulations”, and “zoning regulations”) in each state deter smaller firms to do business in that state. We also examine whether each type of regulation deters firms to do business in certain industries or to operate in more or fewer states. Besides size, operational area, and industry, we also examine whether each type of regulation deters younger firms to do business in each state.Item The Impact of the 2008 Global Crisis on the Banking System(Sumy State University, 2021) Kaya, H.D.This paper examines the impact of the 2008-2009 Global Crisis on the banking systems of the countries around the world. Nine variables are examined which include bank concentration, bank deposits, 5-bank asset concentration, liquid liabilities, net loans from non-resident banks, outstanding loans from non-resident banks, offshore bank deposits, remittances, and consolidated foreign claims.Item The Stability of The Financial System: a Comparison of Developed and Less Developed Countries(Sumy State University, 2021) Kaya, H.D.In this study, we examine the relationship between the development level of a country and stability of its financial system. We look at seven measures of stability. These are Bank z-score, Bank non-performing loans to gross loans, Bank capital to total assets, Bank credit to bank deposits, Regulatory capital to risk-weighted assets, Liquid assets to deposits and short term funding, and Provisions to non-performing loans. First, we compare developed and less developed countries’ stability measures. Do developed countries have more stable financial systems than less developed countries or is the opposite true?