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Emilija Gjorgjioska, Margarita Janeska, Tatjana Spaseska, Meri Boshkoska, Violeta Gligorovski
CORPORATE TRANSPARENCY AND DISCLOSURE: METRICS OF MACEDONIAN JOINT STOCK COMPANIES
Abstract:
The disclosure and transparency of joint stock companies is fostering safe and sound governing of joint stock companies and reduces the risks of corporate crises and scandals.
The purpose of the research is to identify the transparency level of the Macedonian listed companies that are obligated to comply with the Corporate Governance Code of the Macedonian Stock Exchange, according to 20 indicators related to the publication of information on the company's website and in their annual reports. The study adopts a mixed methods approach, combining qualitative and quantitative techniques. Qualitative component involved collecting and examination of data for 20 corporate governance indicators obtained from reliable sources. Quantitative analysis entailed assessing and scoring each indicator based on predefined criteria, followed by statistical processing and graphical representation of the results using Microsoft Excel.
The research has shown that the average transparency level of analysed joint stock companies belongs to the “good” level. Considering the findings, the study provides recommendations aimed to enhance the transparency practices of Macedonian joint stock companies.
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Zalozhnev A. Yu, Chistov D. V.
MODELS FOR MAKING DECISIONS
ON PURCHASE VOLUMES DEPENDING
ON THE ASSESSMENT OF UPCOMING RETAIL SALES
Abstract:
This article considers an economic system that consists of three types of business entities: a manufacturer, a distributor (wholesaler), and a retailer. Mathematical models that allow the distributor (wholesaler) to make informed decisions about the volume of goods purchased from the manufacturer are considered, using the assessment of upcoming retail sales, assuming that the manufacturer's selling price depends on the volume of purchases. Models are built from the standpoint of resolving conflicts between participants in the decision-making process: purchasing managers who strive to have enough inventory and financiers who want to reduce this volume, for example, to increase the liquidity of the organization's assets or reduce storage costs. The constructed models allow the distributor to solve the problem of determining the optimal volume of goods to purchase that will maximize additional profit
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Velichko Adamov
PHILOSOPHY OF GENERAL CORPORATE FINANCING
Abstract:
Corporate financing requires sufficient knowledge on the two basic elements of liability as a component of financial balance: long-term and short-term equity. Respectively the article analyzes the ratios at which company investment may be carried out by equity and various issues of positive and negative equity structure are being outlined as well. Certain recommendations are being made for optimizing owners’ equity and debt capital in order to achieve an effective investment policy. Spe¬cial attention has been drawn on capital management practices in Bulgarian compa¬nies recognizing those practices’ constant need of improvement and development.
