Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Going through a global health crisis is never easy for companies, and even less so for SMEs. Although some sectors have been lucky enough to partially resume their activity under certain conditions, this is far from being the case for the B2B events sector, which is still at a standstill. This crisis has had repercussions on the financial cycle of the company. 

The objective of this thesis is to study the consequences of the Covid-19 crisis on the need for financial resources of SMEs in the B2B events sector.

First, I reviewed the literature on this topic. I took time to define what an SME is and what the B2B events sector is. I also described the VUCA environment, because it matches the environment we have to cope with during a global health crisis. This includes the operating cycle, the investment cycle and the financing cycle. I also addressed the financing solutions put in place by the state to help companies through this crisis. The pecking-order-theory has been explained too in order to understand the financing preferences of a company. The failure path of the firm has also been discussed to understand the bankruptcy process.

Secondly, I conducted a series of interviews, which enabled me to clarify the consequences of the Covid-19 crisis on the needs for financial resources of companies in the B2B events industry. With the aim of making the sample as representative as possible, I interviewed a certain number of people as possible from the B2B events sector: audio-visual companies, companies renting out rooms for all types of events (team-buildings, seminars, etc.), companies renting out equipment for events, brewers, caterers, as well as companies organizing events from A to Z.

As a result of this research and these responses, we were able to compile a list of recommendations that could help the sector emerge from the trajectory of failure associated with the Covid-19 crisis and that could be used if we were to experience a similar crisis again.

SMEs in the B2B events sector - VUCA environment - global health crisis - Covid-19 - consequences on the financial cycle - Pecking order theory - failure factors - recommendations --- Sciences économiques & de gestion > Comptabilité & audit

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper presents empirical analysis of corporate savings in Egypt using two datasets: a survey of small and medium enterprises and data from accounting statements for the largest publicly traded firms. There are two main findings. First, larger firms invest more (they have more physical saving) and have greater access to finance than smaller firms. Second, despite the financial deepening, the use of credit products has been declining during the past decade. The study reaffirms the importance of improving access to financial services in Egypt and points out the need for more research. In addition, policies aimed at reducing macroeconomic volatility are likely to result in increased investment and growth in Egypt.

Access to Finance --- Corporate Savings --- Cross-Country Comparison --- Debt Markets --- Economic Theory & Research --- Emerging Markets --- Finance and Private Sector Development --- Gross Operating Income --- Investment and Investment Climate --- Pecking Order Theory --- Private Sector Development

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This book is a collection of high-impact papers accepted and presented at the 2019 Vietnam’s Business and Economics Research Conference (VBER2019) organised by Ho Chi Minh City Open University held on 18th–20th July 2019. The Special Issue is associated with a broad coverage of the contemporary issues in Business and Economics in Vietnam and other emerging markets reflecting a key theme of VBER2019: Vietnam’s Place in the Asia Pacific Region. A total of 14 papers were published from more than the 120 submissions to the VBER2019 Conference. Published papers had been undergone a rigorous reviewing process conducted by the Journal of Risk and Financial Management. The papers incorporated in this book address contemporary issues in business and economics from Vietnam and other emerging markets in the Asian region from various angles such as economics, finance, and statistics to management science. At the time of writing this note, some of the papers have attracted more than 1000 downloads in 3 months. In particular, a paper on “Foreign Direct Investment and Economic Growth from Developing Countries in the Short Run and Long Run” by Trang Thi-Huyen Dinh and her team has attracted almost 6000 downloads in 3 months. These statistics indicate that the papers published in this Special Issue have attracted the wide interest of readers. Among these 14 published papers, three main areas of important contemporary issues in Business and Economics in the Asian region can be identified. First, a block of papers deals with various important and fundamental issues in the emerging markets the Asian region, from exchange rate regime, financial inclusion, and financial development to energy consumption and environmental degradation. On the issue of CO2 emissions, energy consumption and economic growth in the ASEAN, Vo, Vo, and Le utilized various time series econometrics approaches. Key findings from this paper indicate that there are no long-run relationships among carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. Loo, in his paper on financial inclusion for the ASEAN, concluded that advancing internet capability and availability present investors an opportunity to offer financial technology or Fintech to meet the need for financial services in this digital era. Second, a challenge in quantitative studies for a single country, such as Vietnam, with limited data is generally noted. However, various empirical studies on Vietnam’s business and economics issues have been conducted. Nguyen, Quan, and Pham examined the cultural distance and entry mode of foreign direct investment in Vietnam. A key finding from their paper is that when there is a great cultural difference between Vietnam and their home country, foreign-invested firms prefer wholly owned subsidiaries over equity joint ventures. Within the Vietnamese market, Pham, Vo, Ho, and McAleer conducted a study on the issue of corporate financial distress. The authors conclude that the corporate financial distress prediction model, which includes accounting factors with macroeconomic indicators, performs much better than alternative models. In addition, the evidence confirms that the global financial crisis (GFC) had a damaging impact on each sector, with the Health & Education sector demonstrating the most impressive recovery post-GFC, and the utilities sector recording a dramatic increase in bankruptcies post-GFC. At another extreme of the spectrum, Van and Nguyen considered that competitive context, social influences, the understanding of managers about corporate social responsibility (CSR), and the internal environment of companies are the four drivers of CSR. The authors also argued that in the four drivers, competitive context has the strongest impact on adopting CSR. Third, last but not least, various papers focus on an important aspect of public finance. For an example, Pham, Pham, and Ly documented the effect of double taxation treaties on the bilateral trade of Vietnam with ASEAN member states, thereby making an extensive comparison with its EU partner countries. Their findings indicate the significant contributions of the tax treaties to Vietnam’s trade performance, not exclusively with ASEAN but also with EU partner countries. In addition, regarding public finance for Vietnam, Nguyen, Vo, Ho, and Vo investigated the contribution of fiscal decentralisation to economic growth across provinces in Vietnam. For the first time in Vietnam, the fiscal decentralisation index together its two subcomponents, including fiscal importance and fiscal autonomy, are developed. Findings from this paper indicate that while fiscal importance and an overall level of fiscal decentralisation have provided negative impact on provincial economic growth, fiscal autonomy has a positive impact on economic growth across provinces in Vietnam.

Technology: general issues --- fiscal autonomy --- fiscal decentralisation --- fiscal importance --- DGMM --- Vietnam --- performance --- internationalization --- organizational slack --- ASEAN --- CO2 emissions --- economic growth --- EKC --- energy consumption --- Granger causality --- VECM --- urbanization --- income inequality --- Driscoll and Kraay --- PMG --- agricultural commodity prices --- volatility --- crude oil prices --- structural vector autoregressive model --- impulse response functions --- pecking order theory --- trade off theory --- capital structure --- GMM --- listed firms --- industry level --- corporate financial distress --- bankruptcy --- distance to default --- fundamentals --- Global Financial Crisis --- double taxation treaty --- trade --- gravity model --- financial development --- FMOLS --- DOLS --- emerging markets --- corporate social responsibility --- textile and garment industry --- foreign direct investment (FDI) --- endogenous growth --- developing countries --- financial inclusion --- Fintech --- risk --- foreign direct investment --- competitiveness --- exchange rate regime --- Asia --- Reinhart and Rogoff --- cultural distance --- entry mode --- equity joint venture --- wholly owned subsidiary --- fiscal decentralization --- exchange rate --- Asian region

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This book is a collection of high-impact papers accepted and presented at the 2019 Vietnam’s Business and Economics Research Conference (VBER2019) organised by Ho Chi Minh City Open University held on 18th–20th July 2019. The Special Issue is associated with a broad coverage of the contemporary issues in Business and Economics in Vietnam and other emerging markets reflecting a key theme of VBER2019: Vietnam’s Place in the Asia Pacific Region. A total of 14 papers were published from more than the 120 submissions to the VBER2019 Conference. Published papers had been undergone a rigorous reviewing process conducted by the Journal of Risk and Financial Management. The papers incorporated in this book address contemporary issues in business and economics from Vietnam and other emerging markets in the Asian region from various angles such as economics, finance, and statistics to management science. At the time of writing this note, some of the papers have attracted more than 1000 downloads in 3 months. In particular, a paper on “Foreign Direct Investment and Economic Growth from Developing Countries in the Short Run and Long Run” by Trang Thi-Huyen Dinh and her team has attracted almost 6000 downloads in 3 months. These statistics indicate that the papers published in this Special Issue have attracted the wide interest of readers. Among these 14 published papers, three main areas of important contemporary issues in Business and Economics in the Asian region can be identified. First, a block of papers deals with various important and fundamental issues in the emerging markets the Asian region, from exchange rate regime, financial inclusion, and financial development to energy consumption and environmental degradation. On the issue of CO2 emissions, energy consumption and economic growth in the ASEAN, Vo, Vo, and Le utilized various time series econometrics approaches. Key findings from this paper indicate that there are no long-run relationships among carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. Loo, in his paper on financial inclusion for the ASEAN, concluded that advancing internet capability and availability present investors an opportunity to offer financial technology or Fintech to meet the need for financial services in this digital era. Second, a challenge in quantitative studies for a single country, such as Vietnam, with limited data is generally noted. However, various empirical studies on Vietnam’s business and economics issues have been conducted. Nguyen, Quan, and Pham examined the cultural distance and entry mode of foreign direct investment in Vietnam. A key finding from their paper is that when there is a great cultural difference between Vietnam and their home country, foreign-invested firms prefer wholly owned subsidiaries over equity joint ventures. Within the Vietnamese market, Pham, Vo, Ho, and McAleer conducted a study on the issue of corporate financial distress. The authors conclude that the corporate financial distress prediction model, which includes accounting factors with macroeconomic indicators, performs much better than alternative models. In addition, the evidence confirms that the global financial crisis (GFC) had a damaging impact on each sector, with the Health & Education sector demonstrating the most impressive recovery post-GFC, and the utilities sector recording a dramatic increase in bankruptcies post-GFC. At another extreme of the spectrum, Van and Nguyen considered that competitive context, social influences, the understanding of managers about corporate social responsibility (CSR), and the internal environment of companies are the four drivers of CSR. The authors also argued that in the four drivers, competitive context has the strongest impact on adopting CSR. Third, last but not least, various papers focus on an important aspect of public finance. For an example, Pham, Pham, and Ly documented the effect of double taxation treaties on the bilateral trade of Vietnam with ASEAN member states, thereby making an extensive comparison with its EU partner countries. Their findings indicate the significant contributions of the tax treaties to Vietnam’s trade performance, not exclusively with ASEAN but also with EU partner countries. In addition, regarding public finance for Vietnam, Nguyen, Vo, Ho, and Vo investigated the contribution of fiscal decentralisation to economic growth across provinces in Vietnam. For the first time in Vietnam, the fiscal decentralisation index together its two subcomponents, including fiscal importance and fiscal autonomy, are developed. Findings from this paper indicate that while fiscal importance and an overall level of fiscal decentralisation have provided negative impact on provincial economic growth, fiscal autonomy has a positive impact on economic growth across provinces in Vietnam.

fiscal autonomy --- fiscal decentralisation --- fiscal importance --- DGMM --- Vietnam --- performance --- internationalization --- organizational slack --- ASEAN --- CO2 emissions --- economic growth --- EKC --- energy consumption --- Granger causality --- VECM --- urbanization --- income inequality --- Driscoll and Kraay --- PMG --- agricultural commodity prices --- volatility --- crude oil prices --- structural vector autoregressive model --- impulse response functions --- pecking order theory --- trade off theory --- capital structure --- GMM --- listed firms --- industry level --- corporate financial distress --- bankruptcy --- distance to default --- fundamentals --- Global Financial Crisis --- double taxation treaty --- trade --- gravity model --- financial development --- FMOLS --- DOLS --- emerging markets --- corporate social responsibility --- textile and garment industry --- foreign direct investment (FDI) --- endogenous growth --- developing countries --- financial inclusion --- Fintech --- risk --- foreign direct investment --- competitiveness --- exchange rate regime --- Asia --- Reinhart and Rogoff --- cultural distance --- entry mode --- equity joint venture --- wholly owned subsidiary --- fiscal decentralization --- exchange rate --- Asian region

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The book provides a contemporary view on different aspects of the deductive systems in various types of logics including term logics, propositional logics, logics of refutation, non-Fregean logics, higher order logics and arithmetic.

Research & information: general --- Mathematics & science --- quine --- logic --- ontology --- multiple conclusion rule --- disjunction property --- metadisjunction --- axiomatizations of arithmetic of natural and integers numbers --- second-order theories --- Peano’s axioms --- Wilkosz’s axioms --- axioms of integer arithmetic modeled on Peano and Wilkosz axioms --- equivalent axiomatizations --- metalogic --- categoricity --- independence --- consistency --- logic of typical and atypical instances (LTA) --- logic of determination of objects (LDO) --- quasi topology structure (QTS) --- concept --- object --- typical object --- atypical object --- lattice --- filter --- ideal --- discussive logics --- the smallest discussive logic --- discussive operators --- seriality --- accessibility relation --- Kotas’ method --- modal logic --- deontic logic --- ontology of situations --- semantics of law --- formal theory of law --- Wittgenstein --- Wolniewicz --- non-Fregean logic --- identity connective --- sentential calculus with identity --- situational semantics --- deduction --- (dual) tableau --- Gentzen system --- deductive refutability --- refutation systems --- hybrid deduction–refutation rules --- derivative hybrid rules --- soundness --- completeness --- natural deduction --- meta-proof theory --- synthetic tableaux --- principle of bivalence --- cut --- first-order theory --- universal axiom --- Peano’s axiomatics of natural numbers --- Leśniewski’s elementary ontology --- Frege’s predication scheme --- Frege’s Zahl-Anzahl distinction --- term logic --- Franz Brentano --- Lewis Carroll --- logic trees --- logic diagrams --- paraconsistent logic --- paraconsistency --- Sette’s calculus --- the law of explosion --- the principle of ex contradictione sequitur quodlibet --- semantic tree --- distribution --- Aristotle’s logic --- syllogistic --- Jan Łukasiewicz --- axiomatic system --- axiomatic refutation --- temporal logic --- intuitionistic logic --- minimal system --- knowledge --- sequent-type calculi --- nonmonotonic logics --- default logic --- rejection systems --- Kripke models --- logics of evidence and truth --- n/a --- Peano's axioms --- Wilkosz's axioms --- Kotas' method --- hybrid deduction-refutation rules --- Peano's axiomatics of natural numbers --- Leśniewski's elementary ontology --- Frege's predication scheme --- Frege's Zahl-Anzahl distinction --- Sette's calculus --- Aristotle's logic