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  <title>EconStor Community:</title>
  <link rel="alternate" href="https://hdl.handle.net/10419/318677" />
  <subtitle />
  <id>https://hdl.handle.net/10419/318677</id>
  <updated>2026-04-28T14:09:32Z</updated>
  <dc:date>2026-04-28T14:09:32Z</dc:date>
  <entry>
    <title>Exchange rate volatility, stock prices and returns in BRICS: The moderating effect of inflation with wavelength analysis</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/318705" />
    <author>
      <name>Umoru, David</name>
    </author>
    <author>
      <name>Igbinovia, Beauty</name>
    </author>
    <author>
      <name>Odegha, Benjamin</name>
    </author>
    <id>https://hdl.handle.net/10419/318705</id>
    <updated>2025-06-06T04:00:51Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Exchange rate volatility, stock prices and returns in BRICS: The moderating effect of inflation with wavelength analysis
Authors: Umoru, David; Igbinovia, Beauty; Odegha, Benjamin
Abstract: This study aimed to evaluate the conditional effect of exchange rate volatility on stock prices and returns in the emerging markets of BRICS nations. Using daily data from 1 January 2000 to 30 December 2023, wavelet and quantile analysis were conducted. The Markov-regime model was estimated for robustness check. The wavelet scale W1 exhibited a variance of 574.7375 and a relative percentage of 20.95% in explaining stock price variability, whereas wavelet scale W3 had a variance of 288.5577 and a relative proportion of 15.54%, and wavelet scale W2 had a variance of 159.5644 and a relative proportion of 8.59%. The implication was that BRICS stock markets react significantly to cumulative economic trends over the short term and sudden movements in exchange rates. The variance contribution for returns was found to increase with short-term scales, ranging from 0.0156 for W1 to 0.0643 for W3. This increase indicated that stock returns in BRICS countries were moderately reactive to abrupt exchange rate fluctuations, immediate shifts in inflation, and money supply variations. The short-term scales capture the market's rapid responses to economic news and updates. Such sensitivity to transient economic changes aligns with the results of earlier studies. Stock prices rose in response to an increase in the inflation rate across the quantiles, while stock returns were inversely and considerably influenced by the inflation rate. Also, highly significant negative responses of stock returns to variations in the exchange rate were found under both floating and fixed exchange rate regimes. Overall, when internal inflation exerts a strong moderating influence in an economic environment marked by severe volatility, market performance becomes highly responsive to fluctuations in currency values. The findings of this research will aid in the planning and development of policies by all governments, as well as the financial industry</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Customs policy as a tool to stimulate exports under martial law</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/318708" />
    <author>
      <name>Dziubynskyi, Andrii</name>
    </author>
    <author>
      <name>Pakholiuk, Olena</name>
    </author>
    <author>
      <name>Dziubynska, Oksana</name>
    </author>
    <author>
      <name>Shehynskyi, Oleg</name>
    </author>
    <author>
      <name>Shehynskyi, Volodymyr</name>
    </author>
    <id>https://hdl.handle.net/10419/318708</id>
    <updated>2025-06-06T04:00:47Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Customs policy as a tool to stimulate exports under martial law
Authors: Dziubynskyi, Andrii; Pakholiuk, Olena; Dziubynska, Oksana; Shehynskyi, Oleg; Shehynskyi, Volodymyr
Abstract: The purpose of the article was to study the specifics of the functioning of Ukraine's customs policy under martial law, with a special emphasis on the mechanisms for stimulating export activities and ensuring the efficiency of the state's foreign economic processes. The methods of analysis, synthesis, comparison, generalisation of data and logical conclusion of the analysis were used for the study. An integrated approach allowed for a systematic study of the multifaceted nature of customs policy, which included interrelated components. The use of the abstract and logical method contributed to the formulation of the key areas of modernisation of Ukraine's customs policy in the context of martial law and European integration. The paper examined the peculiarities of Ukraine's customs policy under martial law, analysed the indicators of foreign trade at the beginning of the war and the activities of the State Customs Service. The key objectives of the customs policy were identified: export development, protection of the internal market and support for the competitiveness of Ukrainian goods. For this purpose, customs tariffs with protective and incentive functions were applied in accordance with economic needs and international obligations. Exports declined, particularly in 2022, but stabilised in 2024. The index of physical exports increased, indicating that production processes improved. The agricultural sector suffered the largest losses. At the same time, the EU and Canada's decision to temporarily exempt Ukrainian goods from duties contributed to trade liberalisation. Military actions and the blockade of ports changed logistics: rail transport replaced sea transportation, which complicatedthe work of customs due to the increase in the volume of goods flows. It was proposed simplified approaches to export procedures that can stimulate foreign economic activity. The economic effect of the proposed changes was estimated as a basis for new strategic objectives in the field of foreign trade. The practical value of the work is to provide adaptive solutions to the conditions of uncertainty and chaos arising from the martial law in Ukraine, as well as to improve the procedures and processes of foreign economic activity</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Economic risks of agricultural enterprises in Ukraine: Analysis of threats and mitigation strategies to ensure financial security</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/318706" />
    <author>
      <name>Pylypenko, Denys</name>
    </author>
    <author>
      <name>Shevchenko, Nataliya</name>
    </author>
    <author>
      <name>Pylypenko, Maksym</name>
    </author>
    <id>https://hdl.handle.net/10419/318706</id>
    <updated>2025-06-06T04:01:02Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Economic risks of agricultural enterprises in Ukraine: Analysis of threats and mitigation strategies to ensure financial security
Authors: Pylypenko, Denys; Shevchenko, Nataliya; Pylypenko, Maksym
Abstract: The study aimed to identify economic risks, in particular the impact of currency fluctuations, inflation and changes in tax policy on the financial security of Ukrainian agricultural enterprises. The data of such companies as Myronivsky Hliboproduct, Kernel and Slobozhansky Agrocombine were studied. Comparative analysis methods were used to assess the impact of macroeconomic factors on the agricultural sector. For this purpose, the situation in Ukraine and Germany, which is an example of a stable economy in the European Union, was compared. The study identified key economic threats to agricultural enterprises, including currency fluctuations, inflation and high lending rates. The study determined that in 2022, the hryvnia exchange rate experienced significant fluctuations, which made it difficult to import agricultural inputs and increased production costs. The stabilisation of the exchange rate in 2023 was analysed, but in 2024, amid rising inflation of 12%, currency instability again created difficulties for farmers, in financing imports. In general, in 2025, new tax initiatives were also introduced, including a reduction in the value-added tax for small and medium-sized businesses from 20% to 10%, which helped ease the financial burden on farmers. However, large enterprises remained subject to the high corporate tax rate of 18%, which increased their costs and reduced their competitiveness. The study also revealed the effectiveness of government and international financial initiatives, such as the &amp;ldquo;Affordable loans 5-7-9%&amp;rdquo; programme, the United States Agency for International Development Agro, the European Innovation Council Accelerator, as well as projects of the European Union and the World Bank aimed at supporting the agricultural sector during economic instability. These initiatives provided agricultural enterprises with access to finance, reducing the risks associated with high interest rates and currency fluctuations. The practical significance of the study is to develop strategies to minimise economic risks for Ukrainian agricultural enterprises, which contributes to their financial security and increases the sector's resilience through business diversification and the introduction of digital technologies</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Linking working capital efficiency to profit maximisation: A conceptual analysis</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/318709" />
    <author>
      <name>Islam, Iqbal Md Mazharul</name>
    </author>
    <id>https://hdl.handle.net/10419/318709</id>
    <updated>2025-06-06T04:01:13Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Linking working capital efficiency to profit maximisation: A conceptual analysis
Authors: Islam, Iqbal Md Mazharul
Abstract: The survival of a company is highly dependent on the management of its working capital. Effective working capital management can lead to greater profitability. Insufficient working capital or liquidity shortages can severely hinder profitability and operational sustainability. The primary objective of this research was to examine the relationship between efficient working capital management and profitability. To explore this connection, inventory, the cash conversion cycle, accounts receivable, and accounts payable were used as key indicators of working capital management. Profitability was evaluated using return on equity and return on assets, supported by a conceptual framework based on secondary data. The findings revealed a strong correlation between efficient working capital management and enhanced profitability. Effective management of cash inflows and outflows reduced financing costs and enhanced liquidity, leading to higher returns on equity and assets for companies with shorter cash conversion cycles. Companies with efficient accounts receivable processes significantly reduced their day's sales outstanding, improving cash flow and operational flexibility. Maintaining optimal inventory levels enabled companies to increase turnover rates, improve profit margins, and lower inventory holding costs. Moreover, efficient accounts payable management, particularly through negotiated credit terms with suppliers, optimised payment schedules without damaging supplier relationships, further enhancing profitability. The results highlighted that businesses can achieve long-term profitability by aligning their working capital components with operational goals. Companies that actively manage their cash conversion cycle are better equipped to meet financial obligations without excessive debt, enabling them to invest in expansion opportunities. From a practical perspective, this study underscored the strategic importance of working capital management in driving profitability. Businesses can improve financial stability and strengthen their competitive position by adopting data-driven approaches to optimise cash flow, inventory, and credit management. These insights offer valuable guidance for managers aiming to enhance their company's operational resilience and financial performance</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
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