ORBIS as a Research Tool: Examination of the Capital Structure of the Hungarian and French Wine Industry

ORBIS is a global database and financial analysis tool offering company statements, ownership, rating and scores, news and intelligence. Global means the current coverage exceeds 165 million entities which most of them are private companies. However also listed companies, banks (over 35.000), insurance companies are included. And all that taking into consideration how different the legislations in countries are sometimes not only giving the free choice to companies when it comes to publish the reports but also forbids to do so (some Islamic jurisdictions). Goal of the paper is to demonstrate the usage of ORBIS in the examination of the capital structure of the Hungarian and French wine industry. This work is licensed under a&nbsp;Creative Commons Attribution-NonCommercial 4.0 International License.</p

Profitability and Capital Structure: An Empirical Study of French and Hungarian Wine Producers in 2004-2013

Background: Profitability of the Hungarian wine industry has been a focus of numerous research studies due to the centuries-old history and the recent changes. Objectives: The aim of the study is to analyse the capital structure of the Hungarian and the French wine industries and demonstrate the benefits of the usage of an international company database. Methods/Approach: First, the database and the applied methods are described and then the descriptive statistical analysis of the industry is presented. The two set hypotheses are aimed at testing the main contradiction between the pecking order and the trade-off theory, which is related to profitability and the usage of external funds. Results: The analysis examines the differences between the funding policies applied in the two countries. This was carried out by means of a discriminant analysis, which indicates the financing characteristics of French and Hungarian wine producers. In order to confirm the results of the discriminant analysis we conducted a cluster analysis on the same sample where 3 out of 4 variables proved to be significant in classifying the two groups. Conclusions: The main conclusion of the study is that the behaviour of the factors explaining the development of the capital structure differs significantly in the two examined countries

Prediction of Insolvency of Hungarian Micro Enterprises

The aim of the study is to establish insolvency forecast model with the usage of different statistical methods and compare their efficiency. Besides this the relation and direction between indebtedness and financial distress is also part of the examination. With different approaches we nearly reached the same efficiency, the main focus was on the independent testing sample where we did not apply any modification on the dataset supposing realistic circumstances for predicting the probability of default. The research is focusing on small companies, since their number in the economy is considered high, but for this segment such insolvency forecasts are very rare. This work is licensed under a&nbsp;Creative Commons Attribution-NonCommercial 4.0 International License.</p

Distributed Propulsion Systems for Shallow Draft Vessels

The aim of this study was to investigate the impact of distributed propulsion systems used on inland and coastal navigation in shallow water. Five layouts were assessed by computational fluid dynamics (CFD) simulation. The hull/propulsion layout cases have been analyzed for discrete flow speed values in the range 0&ndash;6 m/s. All cases have been examined under restricted draft conditions in shallow water with a minimum of 0.3 m under keel clearance (UKC) and under unrestricted draft conditions in deep water. The results show that distributed propulsion consisting of 6 or 8 (in some cases, even more) units produces noticeable higher thrust effects in shallow water than the traditional layout. Under restricted conditions, the thrust increase between two distributed layouts with different numbers of propulsors is higher, in contrast to deep water, where differences in performance are not so significant

Distributed Propulsion Systems for Shallow Draft Vessels

The aim of this study was to investigate the impact of distributed propulsion systems used on inland and coastal navigation in shallow water. Five layouts were assessed by computational fluid dynamics (CFD) simulation. The hull/propulsion layout cases have been analyzed for discrete flow speed values in the range 0–6 m/s. All cases have been examined under restricted draft conditions in shallow water with a minimum of 0.3 m under keel clearance (UKC) and under unrestricted draft conditions in deep water. The results show that distributed propulsion consisting of 6 or 8 (in some cases, even more) units produces noticeable higher thrust effects in shallow water than the traditional layout. Under restricted conditions, the thrust increase between two distributed layouts with different numbers of propulsors is higher, in contrast to deep water, where differences in performance are not so significant.</jats:p

Methodology for optimising the hull shape of a vessel with restricted draft

Increasing transport volumes on Europe's inland waterways is a major reason for improving the quality and reliability of internationally important waterways. Continued navigation restrictions due to restricted draft (draught) led to the search for new design solutions. Such solutions enable navigation even under critical navigation conditions. Restricted draft is one of the most important limitations that hinder navigation, especially in the summer. The main objective of the construction of an inland vessel is to obtain a shape that will achieve optimum performance with as little resistance as possible. A shape that will be able to navigate at a limited depth. Presently, there is no clearly defined methodology as a procedure for optimising the hull. When solving theoretical problems of shipbuilding character and ship calculations, it is necessary to consider the basic theory of the ship with special regard to the latest methodological procedures of related scientific disciplines. This paper presents a methodology that considers all the basic aspects of optimisation tasks in ship design and construction