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Book part
Publication date: 28 October 2021

Odysseas Pavlatos and Hara Kostakis

The aim of this chapter is to investigate the relationship between the uses of budgets with financial performance in start-ups’ business environment. For this reason, an empirical…

Abstract

The aim of this chapter is to investigate the relationship between the uses of budgets with financial performance in start-ups’ business environment. For this reason, an empirical survey was carried out, using a questionnaire in 134 start-up companies, which are based in 10 different European countries. Results show that there is a positive association between the use of budgets for planning, resource allocation and performance evaluation with financial performance. The CEO’s business educational background, as well as CEO’s beliefs about planning, has a strong influence in the use of budgets in start-up firms. We also concluded that there is a positive association between perceived environmental uncertainty (PEU) and the use of budgets for planning and resource allocation and a negative association between PEU and the use of budgets for performance evaluation.

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Advances in Management Accounting
Type: Book
ISBN: 978-1-80043-627-5

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Public-Private Partnerships, Capital Infrastructure Project Investments and Infrastructure Finance
Type: Book
ISBN: 978-1-83909-654-9

Book part
Publication date: 4 July 2019

Sara Pavia and Simon Grima

The authors herein carry out a literature review of retirement planning and highlights that proper retirement planning starts by looking at the level of income an individual is…

Abstract

The authors herein carry out a literature review of retirement planning and highlights that proper retirement planning starts by looking at the level of income an individual is likely to continue receiving at retirement if they were to take no action, then comparing this to what they would need to lead the lifestyle they desire. The authors review the traditional economic theories that many are accustomed to when interpreting financial matters (i.e., rational behavior) and compares this to the various studies and articles found in literature. The authors then dig into retirement planning in Malta and the behavioral obstacles to proper planning and how these are tackled in different European countries.

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Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Book part
Publication date: 4 July 2019

Simon Grima and Sara Pavia

In this chapter our objective was to gain an understanding of what affects Maltese individuals’ behaviors when it comes to retirement planning. Given that longevity is on the…

Abstract

In this chapter our objective was to gain an understanding of what affects Maltese individuals’ behaviors when it comes to retirement planning. Given that longevity is on the increase, state pension income is limited (and most probably unsustainable over the long term) and that many individuals expect to be able to enjoy a comfortable retirement, it sets out to determine which macro- and micro-environmental factors are likely to encourage positive behavior or otherwise.

We did this by consulting and analyzing existing literature in chapter 8 of this book and designing an online survey which was specifically created to capture qualitative data about public sentiment and behaviors with respect to retirement planning.

The study identifies a general sense of confusion in relation to financial concepts related to retirement. In line with other countries’ findings, the prevalence of myopia, procrastination and inertia has also been observed through the research undertaken.

Through established behavioral finance theories and literature, as well as actual European practical examples, the research explores the best ways of “nudging” people into recognizing the importance of acting and making the right long-term financial decisions, to their own benefit and to that of society.

Notwithstanding, that overall savings of the Maltese are around the average established for Europe, the study found that savings tend to be shorter term, and therefore insignificant when considering the actual requirements for the desired quality of life at retirement. The research showed how, as with other countries, behavioral biases have been limiting people from acting or making the right choices.

Of the most prominent of behaviors, procrastination, myopia, and inertia were observed. In the local market, these seemed to stem from a sense of disorientation as to the meaning of certain concepts, how to initiate the process and which actions to take. In fact, although many did not admit it outright, respondents showed low levels of confidence in their abilities, and avoid acting out of fear that it may not be the right choice. At the same time, they would try to rationalize their lack of action by the premise that things would sort themselves out, although this is typically labeled as overconfidence, it is likely to be an attempt to feel better about their stance on the matter.

Abstract

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Investment Traps Exposed
Type: Book
ISBN: 978-1-78714-253-4

Book part
Publication date: 31 December 2010

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities…

Abstract

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities in which the firms are engaged are outlined to provide background information for the reader.

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Reputation Building, Website Disclosure and the Case of Intellectual Capital
Type: Book
ISBN: 978-0-85724-506-9

Book part
Publication date: 17 October 2022

Stefania Boglietti, Martina Carra, Massimiliano Sotgiu, Benedetto Barabino, Michela Bonera and Giulio Maternini

Nowadays, the increase in the capacity of batteries has laid the foundations for a broader diffusion of electric mobility. However, electric mobility is causing a growing

Abstract

Nowadays, the increase in the capacity of batteries has laid the foundations for a broader diffusion of electric mobility. However, electric mobility is causing a growing electricity demand as well as the need to increase the diffusion of suitable charging stations. Within these last challenges, drawing on the recent literature, this chapter provides a critical and wide-ranging review of papers dealing with the formulation of the problem of the localisation of electric vehicle (EV) charging points. This problem is approached considering the electric charging infrastructure technologies, localisation criteria and related methodologies. This review shows how the ‘electric mobility revolution’ applies the technological innovations provided by the energy supply systems, and the location of these systems within the urban contexts. Since the technological innovations have different options, achieving an international standard of charging systems is still far away. Moreover, as there are several criteria, parameters and methodologies, and some analytical approaches for the localisation of electric vehicle charging points, the formulation of the ‘localisation’ problem should require the application of multi-criteria analysis to be addressed. Finally, the results show that there is no consensus on technologies, criteria, and methodologies to be adopted. Therefore, this wide-ranging analysis of the literature would be useful to support possible benchmarking and systematisation accordingly.

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Electrifying Mobility: Realising a Sustainable Future for the Car
Type: Book
ISBN: 978-1-83982-634-4

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Navigating the Investment Minefield
Type: Book
ISBN: 978-1-78769-053-0

Book part
Publication date: 1 November 2007

Irina Farquhar and Alan Sorkin

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative…

Abstract

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative information technology open architecture design and integrating Radio Frequency Identification Device data technologies and real-time optimization and control mechanisms as the critical technology components of the solution. The innovative information technology, which pursues the focused logistics, will be deployed in 36 months at the estimated cost of $568 million in constant dollars. We estimate that the Systems, Applications, Products (SAP)-based enterprise integration solution that the Army currently pursues will cost another $1.5 billion through the year 2014; however, it is unlikely to deliver the intended technical capabilities.

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The Value of Innovation: Impact on Health, Life Quality, Safety, and Regulatory Research
Type: Book
ISBN: 978-1-84950-551-2

Book part
Publication date: 8 April 2010

Marie-Anne Lorain

Budgeting process has been largely criticized in the recent accounting literature. The responsiveness of budgets to fast-moving environments is now questioned. The purpose of this…

Abstract

Budgeting process has been largely criticized in the recent accounting literature. The responsiveness of budgets to fast-moving environments is now questioned. The purpose of this paper is to address this issue by suggesting that companies use rolling forecasts as an interactive and flexible tool to cope with turbulence.

We designed a web-based survey directed to Spanish companies operating in an uncertain environment. Statistical results of the survey reveal that more than 60% of the respondents consider that changes in the environment makes it very difficult to establish accurate budgets. Respondents also mentioned that with the economic down cycle the establishment of reliable financial forecasts is requiring a great effort. At the same time, qualitative interviews have been conducted with companies already using rolling forecasts to test and further develop the use of this interactive tool.

We found that the rolling forecasts are considered to be a dynamic strategic planning tool, very useful for cash management and day-to-day decision-making process, but that they cannot replace budget for evaluation and motivation purposes.

The study has its limitations as the findings rely on a small number of survey respondents and interviewed organizations. Nevertheless the results have been compared, when possible, to those of similar surveys in order to validate them.

The article supplies actualized information about budgeting practices in a turbulent environment and more specifically in the Spanish context.

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Performance Measurement and Management Control: Innovative Concepts and Practices
Type: Book
ISBN: 978-1-84950-725-7

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