112,171 research outputs found
Opportunities For Funding Innovation
equity, business angels and the NewConnect market, and describes the possibilities of using them. The article stresses that firms seeking capital to grow through innovation can use a wide range of financing options as long as their projects are underpinned by solid documentation, have a specified time horizon, and are attractive for investdors.W artykule zaprezentowano poglÄ
d, ĆŒe konkurencyjnoĆÄ firmy naleĆŒy upatrywaÄ przede wszystkim w zdolnoĆci do bycia innowacyjnym. Wskazano na stymulatory aktywnoĆci firm i efekty z tytuĆu realizacji innowacji. Przede wszystkim zwrĂłcono uwagÄ na ĆșrĂłdĆa i formy pozyskiwania kapitaĆu na ich urzeczywistnienie. SzczegĂłlnÄ
uwagÄ poĆwiÄcono leasingowi, venture capital, private equity, anioĆom biznesu i NewConnect. PodkreĆlono, ĆŒe istnieje szeroka paleta tych ofert dla firm potrzebujÄ
cych kapitaĆu na rozwĂłj poprzez innowacje. JednakĆŒe pod warunkiem, ĆŒe projekty te bÄdÄ
dobrze udokumentowane, okreĆlony bÄdzie horyzont czasowy ich wykonalnoĆci i bÄdÄ
stanowiĆy atrakcyjne wyzwanie dla inwestorĂłw
Corporate Governance, Innovative Enterprise, and Economic Development
corporate governance, innovative enterprise, economic development
Innovation and Competition in Canadian Equity Markets
Innovations in communications and information technology and the related globalization of financial markets have created the potential for important changes to the structure of Canadian equity markets. Established marketplaces can now compete more effectively on an inter-regional and international basis. At the same time, reduced costs have lowered the barriers to entry faced by new competitors known as alternative trading systems (ATSs). In response to this heightened competition, established Canadian stock exchanges have taken measures to improve market quality. While regulators see innovation as positive for the development of Canadian markets, there is some concern that market liquidity may be fragmented in the short run. The Canadian Securities Administrators have proposed a framework that attempts to address this issue and that would allow ATSs to compete with traditional exchanges for the first time. The authors provide an overview of the Canadian equity market and its structure, focusing on these recent developments.
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The effects of globalisation of financial services on banking industry and stock market: an Algerian case study
Since the mid-1980s, Algeria has embarked on a programme of comprehensive financial liberalisation to establish a market-oriented financial system, and to develop the role of the Algiers Stock Exchange in the mobilisation of financial resources. The transition from a centrally planned to a market-oriented economy meant fewer regulatory barriers towards local and foreign banks. This study demonstrates that financial liberalisation is the main force that drives the globalisation of financial services, followed by financial innovations and the Internet. Globalisation has affected the performance of the two prevalent banking models in Algeria: interest based (conventional) and non- interest-based (Islamic). The benchmarks used to assess banking performance are: competition, profitability and efficiency.
Quantitative and qualitative analyses show a direct link between banking efficiency and the globalisation of financial services. The study concludes that globalisation has more advantages than disadvantages to the Algerian banking sector and the Algiers Stock Exchange. The elimination of regulatory barriers has enabled state-owned banks to improve the quality of their services and to use more advanced information technologies. Private and foreign banks are also involved in the modernisation of the Algerian banking industry by launching innovative financial products and attracting local and foreign capital. However, this project emphasises that the removal of remaining regulatory obstacles would enable banks to benefit fully from the process of financial liberalisation, and to be active institutions in the financial market. Moreover, opening the Algiers Stock Exchange to large domestic and foreign companies would attract capital investments and boost equity trading in Algeria
Japan' New Competitive Advantage: Enterprises' Innovative Initiatives and Government's Reforms
This article is a continuation of the report "Japan's new competitive advantage. Arguments and proposals for structural reorientation" published in the "Comparative Economic Research for Central & Eastern Europe", vol. 13, no 1/2/2010, which mainly dealt with the role of the private sector's cooperation with governmental agencies. The discussion presented below is divided into four sections. Section one outlines the history of new ITC firms (mobile communications, computers) after the year 2000 and addresses innovation factors. Section two characterizes Japan's "dual economy" with respect to economic competitiveness and innovation. Section three discusses the major structural reforms (Japan Post, the Housing Loan Corporation and the Japan Highway Corporation) that were undertaken in Japan in the 21st c. Section four of the article provides final conclusions.ArtykuĆ ten stanowi kontynuacjÄ tekstu opublikowanego w "Comparative Economic Research for Central & Eastern Europe", Tom 13, nr 1/2/2010, p.t. Nowa przewaga konkurencyjna Japonii. Argumenty i propozycje na rzecz przeorientowania struktur. ZostaĆa w nim wyeksponowana rola sektora prywatnego we wspĂłĆpracy z agendami rzÄ
du. ArtykuĆ skĆada siÄ z czterech czÄĆci. W czÄĆci pierwszej przedstawiono historiÄ nowych firm w branĆŒy teleinformatycznej (telefonia komĂłrkowa, komputery) po 2000 roku, a takĆŒe wskazano na determinanty innowacyjnoĆci. W czÄĆci drugiej scharakteryzowano "podwĂłjnÄ
ekonomiÄ" Japonii w kontekĆcie konkurencyjnoĆci i innowacyjnoĆci gospodarki. W czÄĆci trzeciej omĂłwiono najwaĆŒniejsze reformy strukturalne w Japonii w XXI wieku: Poczty, Housing Loan Corporation oraz Japan Highway Corporation. W czÄĆci czwartej artykuĆu zaprezentowano wnioski koĆcowe
Stock exchanges and regional competitiveness: the case of small German exchanges
The analysis of financial centers focuses mainly on the competition between and changing roles of the major places. In the European context thus usually London, Paris, Frankfurt/Main and other national financial centers have become objects of investigation. The findings show that the recent reorganisation of financial centers in Europe under the conditions of widespread use of ICT with the possibility of remote access to exchanges, the development of innovative products on financial markets, and the advent of a single currency affects structures, organisation and specialization of the main actors within financial centers, i.e. banks and exchanges. The planned but failed merger between London Stock Exchange and Deutsche Börse AG in Frankfurt/Main in 2000 has probably been one of the publicly most noticed aspects of this development. The proposed paper wants to put a focus on less prominent features of current restructuring, namely the roles and strategies of minor German exchanges. The main idea is, that - although financial services are characterized by a spread of "de-spatialized" forms of service production-, strategies of regional development based (at least partly) on endogenous resources can be supported by regional financial institutions. The argument will be presented in three steps: At first the importance of a regional exchange for regional development has to be discussed on a theoretical base. This part will draw upon notions and considerations of the "glocalization" literature which stresses the ambivalent relationship between processes of globalization and disembedding on the one hand and re-interpretation of different forms of proximity (including spatial proximity) on the other hand. A second - also rather theoretical - part will consider the possible comparative advantages of minor exchanges in the context of the prevailing concentration processes. This section will therefore focus on possible strategies, which combine the access to highly liquid and innovative exchanges and the special regional knowledge available at regional institutions. The chances and risks of different strategies (alliances with strong national and/or international partners vs. "niche production") have to be discussed. In the third section the empirical findings of the analysis of different minor German exchanges situated in metropolitan regions (Berlin, Hamburg, Munich) will be presented and assessed according to the arguments developed in the preceeding parts. The contextualization not only in respect to the specific regional economic situation but also in respect to the history of the German decentralized system of exchanges and the main trends of restructuring of the "European exchange landscape" will be essential to this last part.
Strategies for sustainable socio-economic development and mechanisms their implementation in the global dimension
The authors of the book have come to the conclusion that it is necessary to effectively use modern approaches to developing and implementation strategies of sustainable socio-economic development in order to increase efficiency and competitiveness of economic entities. Basic research focuses on economic diagnostics of socio-economic potential and financial results of economic entities, transition period in the economy of individual countries and ensuring their competitiveness, assessment of educational processes and knowledge management. The research results have been implemented in the different models and strategies of supply and logistics management, development of non-profit organizations, competitiveness of tourism and transport, financing strategies for small and medium-sized enterprises, cross-border cooperation. The results of the study can be used in decision-making at the level the economic entities in different areas of activity and organizational-legal forms of ownership, ministries and departments that promote of development the economic entities on the basis of models and strategies for sustainable socio-economic development. The results can also be used by students and young scientists in modern concepts and mechanisms for management of sustainable socio-economic development of economic entities in the condition of global economic transformations and challenges
Finance, Competition, Instability, and Development Microfoundations and Financial Scaffolding of the Economy
The present paper attempts to utilize âthe knowledge-basedâ nature of firmsâ operations as set out in the diverse theoretical frameworks to stress the importance of organisational and managerial techniques in the creation of market dominance by particular financial firms in the same way that these theories have analysed industrial firms. The article will also analyze the process of competition between different firms and between different financial structures in terms of the impact of different organisational regimes on profitability, efficiency, and instability of the economic system. As the result, the diverse policy recommendations concerning financial regulation, institution building, and microfinancial structure are given.
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