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Proceeding of 5th Annual Research Conference "System dynamics modeling framework for the financial system", December 16, 2022, Kyiv, Ukraine.

Purpose:This research aims to know and measure the impact of financial independence on financial fragility and to provide an applied knowledge framework that shows the relationship between these variables. Theoretical framework: and the research problem was represented in several questions, such as can financial independence reduce the financial fragility of the research sample companies?; and what is the level of financial independence and financial fragility of these companies?. Design/methodology/approach: Financial and statistical methods were relied on using the (SPSS) and (Excel) software. To answer these questions, test hypotheses and analyze the relationship between independent and dependent variables , several conclusions were reached, the most important of which is financial independence when companies reduce their dependence on debt and increase their dependence on internal resources as a main source of financing. Based on the conclusions, a set of recommendations was reached. The most important of which is the attention to restructuring the sources of financing for companies with high financial fragility, which contributes to increasing financial stability and reducing financial risks to a minimum. Findings: The research was based on a sample consisting of (6) industrial companies listed in the Iraqi Stock Exchange for the period from (2011-2020). Research, Practical & Social implications: The importance of the research lies in the fact that it has exploited the concepts of financial independence as it leads to reducing risks and assisting companies in reducing financial risks and reaching the required levels of performance, growth and continuity in a highly complex, unstable and limited environment, as well as contributing to urging companies to reconsider financial resources, and ways to benefit from it, which contributes to reducing costs and risks and increasing profitability. Originality/value: The importance of the current research is hi

Proceeding of 5th Annual Research Conference "System dynamics modeling framework for the financial system", December 16, 2022, Kyiv, Ukraine.

Aim: As survival of infants born prematurely has increased dramatically, questions on long-term consequences have emerged. Our aim was to investigate long-term effects of very low birth weight on socioeconomic outcomes. Methods: One hundred and fifty very low birth weight infants (VLBW) born from 1980 to 1982 at Rigshospitalet, Denmark, who had previously been followed up at age 2, 4 and 18 years, were compared to cohorts of low birth weight, normal birth weight (NBW) and a national population-based reference cohort. From the Danish national registers we obtained data regarding educational level, financial independence and living arrangements. In addition, we used the previously published results from the three cohorts. Results: The VLBW cohort had lower intelligence quotient and higher risk of significant school difficulties evaluated at age 4 and 18 years. When compared to the NBW cohort, at 30–36 years of age the VLBW cohort tended to have lower educational level, OR 1.7, 95% CI 0.8–3.9, were not financially independent OR 1.5, 95% CI 0.6–3.7, lived alone OR 2.0, 95% CI 1.0–3.8 and had higher rates of the combination of all three outcomes, OR 3.2, 95% CI 0.7–15.8. Conclusions: We found trends towards poor socioeconomic outcomes in young adults born with VLBW. The relative disadvantages appeared smaller than that in childhood.

Aim: As survival of infants born prematurely has increased dramatically, questions on long-term consequences have emerged. Our aim was to investigate long-term effects of very low birth weight on socioeconomic outcomes. Methods: One hundred and fifty very low birth weight infants (VLBW) born from 1980 to 1982 at Rigshospitalet, Denmark, who had previously been followed up at age 2, 4 and 18 years, were compared to cohorts of low birth weight, normal birth weight (NBW) and a national population-based reference cohort. From the Danish national registers we obtained data regarding educational level, financial independence and living arrangements. In addition, we used the previously published results from the three cohorts. Results: The VLBW cohort had lower intelligence quotient and higher risk of significant school difficulties evaluated at age 4 and 18 years. When compared to the NBW cohort, at 30–36 years of age the VLBW cohort tended to have lower educational level, OR 1.7, 95% CI 0.8–3.9, were not financially independent OR 1.5, 95% CI 0.6–3.7, lived alone OR 2.0, 95% CI 1.0–3.8 and had higher rates of the combination of all three outcomes, OR 3.2, 95% CI 0.7–15.8. Conclusions: We found trends towards poor socioeconomic outcomes in young adults born with VLBW. The relative disadvantages appeared smaller than that in childhood.

Financial independence (FI) and the FIRE Movement have gained a lot of traction in recent years. Despite the growing popularity of this alternative lifestyle, it is largely absent from the literature with only a few previous studies or investigations found. The goal of this thesis is to see if people use entrepreneurship to help them achieve financial independence. The thesis uses the critical case sampling method and semi-structured qualitative interviews with 11 individuals who are working toward or have already achieved financial independence. The findings show that most of the interviewees rely on waged work as their primary occupation, although most of them supplement their income by engaging in some form of income-generating activities alongside their main occupation, which is known as hybrid entrepreneurship. The interviewees were classified as engaging in full-time entrepreneurship, hybrid entrepreneurship, or no entrepreneurship. The findings showed that the majority of this sample pool was engaged in hybrid entrepreneurship, which implies that the pursuit of FI is either appealing to those already with entrepreneurial tendencies or the pursuit of FI encourages individuals to be more entrepreneurial. Additionally, there are indications that some individuals may use financial independence to reduce risk before embarking on an entrepreneurial journey which aligns with established theory regarding hybrid entrepreneurship., Ekonomiskt oberoende (FI) och FIRE-rörelsen har fått stor genomslag de senaste åren. Trots den växande populariteten för denna alternativa livsstil är den till stor del frånvarande i litteraturen med endast ett fåtal tidigare studier eller undersökningar hittade. Målet med denna avhandling är att se om människor använder entreprenörskap för att hjälpa dem att uppnå ekonomiskt oberoende. Avhandlingen använder den kritiska fallsurvalmetoden och semistrukturerade kvalitativa intervjuer med 11 individer som arbetar mot eller redan har uppnått ekonomiskt oberoende. Resultaten visar att de flesta av de intervjuade förlitar sig på lönearbete som sin primära sysselsättning, även om de flesta av dem kompletterar sin inkomst genom att ägna sig åt någon form av inkomstbringande aktiviteter vid sidan av sin huvudsakliga sysselsättning, som kallas hybridföretagande. Intervjupersonerna klassificerades som engagerade i heltidsföretagande, hybridföretagande eller inget företagande. Resultaten visade att majoriteten av denna urvalspool var engagerad i hybridföretagande, vilket innebär att strävan efter FI antingen tilltalar dem som redan har entreprenöriella tendenser eller att strävan efter FI uppmuntrar individer att bli mer entreprenöriella. Dessutom finns det indikationer på att vissa individer kan använda ekonomiskt oberoende för att minska risken innan de ger sig ut på en entreprenöriell resa som ligger i linje med etablerad teori om hybridföretagande.

Financial independence (FI) and the FIRE Movement have gained a lot of traction in recent years. Despite the growing popularity of this alternative lifestyle, it is largely absent from the literature with only a few previous studies or investigations found. The goal of this thesis is to see if people use entrepreneurship to help them achieve financial independence. The thesis uses the critical case sampling method and semi-structured qualitative interviews with 11 individuals who are working toward or have already achieved financial independence. The findings show that most of the interviewees rely on waged work as their primary occupation, although most of them supplement their income by engaging in some form of income-generating activities alongside their main occupation, which is known as hybrid entrepreneurship. The interviewees were classified as engaging in full-time entrepreneurship, hybrid entrepreneurship, or no entrepreneurship. The findings showed that the majority of this sample pool was engaged in hybrid entrepreneurship, which implies that the pursuit of FI is either appealing to those already with entrepreneurial tendencies or the pursuit of FI encourages individuals to be more entrepreneurial. Additionally, there are indications that some individuals may use financial independence to reduce risk before embarking on an entrepreneurial journey which aligns with established theory regarding hybrid entrepreneurship., Ekonomiskt oberoende (FI) och FIRE-rörelsen har fått stor genomslag de senaste åren. Trots den växande populariteten för denna alternativa livsstil är den till stor del frånvarande i litteraturen med endast ett fåtal tidigare studier eller undersökningar hittade. Målet med denna avhandling är att se om människor använder entreprenörskap för att hjälpa dem att uppnå ekonomiskt oberoende. Avhandlingen använder den kritiska fallsurvalmetoden och semistrukturerade kvalitativa intervjuer med 11 individer som arbetar mot eller redan har uppnått ekonomiskt oberoende. Resultaten visar att de flesta av de intervjuade förlitar sig på lönearbete som sin primära sysselsättning, även om de flesta av dem kompletterar sin inkomst genom att ägna sig åt någon form av inkomstbringande aktiviteter vid sidan av sin huvudsakliga sysselsättning, som kallas hybridföretagande. Intervjupersonerna klassificerades som engagerade i heltidsföretagande, hybridföretagande eller inget företagande. Resultaten visade att majoriteten av denna urvalspool var engagerad i hybridföretagande, vilket innebär att strävan efter FI antingen tilltalar dem som redan har entreprenöriella tendenser eller att strävan efter FI uppmuntrar individer att bli mer entreprenöriella. Dessutom finns det indikationer på att vissa individer kan använda ekonomiskt oberoende för att minska risken innan de ger sig ut på en entreprenöriell resa som ligger i linje med etablerad teori om hybridföretagande.

Municipalities' capacity to stay financially viable will determine their long term viability. Well-managed municipalities provide evident positive outcomes that are critical to guaranteeing the continued provision and maintenance of high-quality, affordable services for all residents in their jurisdiction. Municipalities that rely heavily on transfers and grants from the federal government are unlikely to run up huge debts. As a result, they are exposed to financial and sustainability hazards. However, the mounting debt levels reported in the Municipality of Windhoek financials is a source of concern since it may eventually reach unsustainable levels. This study's main objective was to investigate the impact of debt financing on the City of Windhoek's fiscal sustainability. Accordingly, the study explored the factors that influence fiscal sustainability in Windhoek in order to understand the underlying causes of the Windhoek Municipality's rising debt burden. The study adopted a quantitative explanatory research design that used secondary data from financial audit reports for the period 2008 to 2019. The data was then computed into indicators based on literature and transformed into logarithmic ratios using Principal Component Analysis (PCA) and Dendrograms. The study then used temporal causal modelling and ARDL model estimation to establish the nature of relationships between fiscal sustainability and debt burden indicators within the context of financial independence. The study found evidence of both long-term and short-term relationships between fiscal sustainability, debt burden, and financial independence. However, the long-term relationships were not statistically significant. The study concludes that fiscal sustainability in the City of Windhoek is dependent on expenditure coverage ratios, debt burdens related to non-statutory funds, budget deficits, and employee benefit liabilities. The study recommends that the municipality must focus on diversifying their

Marketization of the humanitarian system and the financial independence is thought to have an impact on humanitarian organisations’ behavior. With an increased insecurity for aid-workers and thus investment in aid-worker security management, research on this matter is pressing. This thesis seeks to examine the characteristics of the relationship between humanitarian organisations’ financial (in)dependency, and their use of acceptance as a security strategy. Acceptance is a security strategy preferred by humanitarian organisations. I pose the research question: How does humanitarian organisations’ level of financial independence contribute to their application of acceptance as a security strategy in South Sudan? The thesis answers this through a qualitative case study of three different layers of humanitarian organisations’ (MSF and ICRC; INGOs; L/NNGOs) in South Sudan, guided by acceptance as the analytical framework. The study finds that the level of financial (in)dependence can contribute to all components of the acceptance strategy in various ways. Higher level of financial independence provides flexibility and operational independence, and lower level of financial independence impedes flexibility and increases compliance with donor interests. This has consequences for all components of acceptance in some ways, but particularly for principles and mission and programming.

Marketization of the humanitarian system and the financial independence is thought to have an impact on humanitarian organisations’ behavior. With an increased insecurity for aid-workers and thus investment in aid-worker security management, research on this matter is pressing. This thesis seeks to examine the characteristics of the relationship between humanitarian organisations’ financial (in)dependency, and their use of acceptance as a security strategy. Acceptance is a security strategy preferred by humanitarian organisations. I pose the research question: How does humanitarian organisations’ level of financial independence contribute to their application of acceptance as a security strategy in South Sudan? The thesis answers this through a qualitative case study of three different layers of humanitarian organisations’ (MSF and ICRC; INGOs; L/NNGOs) in South Sudan, guided by acceptance as the analytical framework. The study finds that the level of financial (in)dependence can contribute to all components of the acceptance strategy in various ways. Higher level of financial independence provides flexibility and operational independence, and lower level of financial independence impedes flexibility and increases compliance with donor interests. This has consequences for all components of acceptance in some ways, but particularly for principles and mission and programming.

State financial independence refers to the ability of the government to finance all state expenditure solely from the budgetary revenue attained. Thus, the full financial autonomy of the state means that the government finances the budgetary expenditures without having to borrow money. Therefore, the aim of this article is to examine the possibility for states to achieve full financial autonomy in the contemporary world economy. The results of the studies show that almost all countries now have a large or small public debt, which means that countries finance their development by borrowing money at home and abroad. The important issue seems to be not so much to maintain the full financial independence of the State as to guarantee the financial security of the state (that is, to maintain the ability of the state to raise money when necessary)., Niezależność finansowa państwa odnosi się do możliwości finansowania przez rząd wszystkich wydatków państwowych wyłącznie z osiąganych dochodów budżetowych. Zatem pełna autonomia finansowa państwa oznacza, że rząd finansuje wydatki budżetowe bez konieczności pożyczania środków przez zaciąganie kredytów bankowych czy emisję instrumentów dłużnych. Dlatego też celem niniejszego artykułu jest zbadanie możliwości osiągnięcia przez państwo pełnej autonomii finansowej we współczesnej gospodarce światowej. Wyniki przeprowadzonych badań wskazują, że obecnie prawie we wszystkich krajach występuje większy lub mniejszy dług publiczny, co oznacza, że państwa finansują swój rozwój, pożyczając środki w kraju i za granicą. Istotną kwestią wydaje się nie tyle utrzymanie pełnej niezależności finansowej państwa, ile zagwarantowanie bezpieczeństwa finansowego państwa, czyli utrzymanie zdolności do pozyskania przez państwo środków pieniężnych w sytuacji, gdy zachodzi taka potrzeba.

Social origins are important predictors of adult success, and parental resources, particularly parental wealth, are positively correlated with adult well-being. Meanwhile, the overall population is now healthier and living longer than previous generations. Therefore, families are experiencing increased opportunities for multigenerational relationship formation and investment. This dissertation extends social mobility and stratification research by considering how multigenerational resources are related to young adult well-being. I examine how grandparents’ accumulated wealth prior to individuals’ eighteenth birthday is related to young adults’ educational attainment, self-rated general health and mental health, and financial independence. Additionally, in light of large, enduring racial wealth gaps between Black and White identified people, I examine whether and to what extent racially disparate patterns of family wealth accumulation condition the relationship between grandparent wealth and young adult well-being. I perform this investigation with analysis of the Panel Study of Income Dynamics (PSID) and the PSID’s Transition to Adulthood Study (TAS). I employ multivariate longitudinal analysis techniques to perform interracial and intra-racial analyses of the relationship between grandparent wealth and young adult well-being. I decompose racial group gaps to see whether the results are attributable to family socioeconomic characteristics or the return to those characteristics. Lastly, I use marginal probabilities to examine and compare the absolute and relative consequences of racially disparate levels of grandparent wealth across well-being outcomes.

This paper takes off in the rapidly growing fields of financial independence and financial literacy. We develop a model focusing on reaching financial independence during retirement and mitigate financial decision making for financially illiterate. The model is based on theoretical research within financial literacy, economic life-cycle and safe withdrawal rates. To ensure qualified monthly saving recommendations, we perform Monte Carlo simulations in a solid test section. The results show that it is important to consider volatility in asset returns, a well-known financial phenomenon that is ignored by most publicly accessible models. Moreover, the model shows that the factors early start of saving, postponement of retirement and investing saved capital can substantially improve retirement wealth., This paper takes off in the rapidly growing fields of financial independence and financial literacy. We develop a model focusing on reaching financial independence during retirement and mitigate financial decision making for financially illiterate. The model is based on theoretical research within financial literacy, economic life-cycle and safe withdrawal rates. To ensure qualified monthly saving recommendations, we perform Monte Carlo simulations in a solid test section. The results show that it is important to consider volatility in asset returns, a well-known financial phenomenon that is ignored by most publicly accessible models. Moreover, the model shows that the factors early start of saving, postponement of retirement and investing saved capital can substantially improve retirement wealth.

This paper takes off in the rapidly growing fields of financial independence and financial literacy. We develop a model focusing on reaching financial independence during retirement and mitigate financial decision making for financially illiterate. The model is based on theoretical research within financial literacy, economic life-cycle and safe withdrawal rates. To ensure qualified monthly saving recommendations, we perform Monte Carlo simulations in a solid test section. The results show that it is important to consider volatility in asset returns, a well-known financial phenomenon that is ignored by most publicly accessible models. Moreover, the model shows that the factors early start of saving, postponement of retirement and investing saved capital can substantially improve retirement wealth., This paper takes off in the rapidly growing fields of financial independence and financial literacy. We develop a model focusing on reaching financial independence during retirement and mitigate financial decision making for financially illiterate. The model is based on theoretical research within financial literacy, economic life-cycle and safe withdrawal rates. To ensure qualified monthly saving recommendations, we perform Monte Carlo simulations in a solid test section. The results show that it is important to consider volatility in asset returns, a well-known financial phenomenon that is ignored by most publicly accessible models. Moreover, the model shows that the factors early start of saving, postponement of retirement and investing saved capital can substantially improve retirement wealth.

Purpose Traditional markers of adulthood, such as marriage and parenthood, are being increasingly postponed by young adults in their 20s. Consequently, young people cite different criteria for achieving an adult status (Arnett in Youth and Society, 29:3–23, [5]). In this study, we focus on one of these, financial independence, examining how it relates to delinquency. We hypothesize that gaining financial independence, i.e., no longer receiving financial support from parents, will lead to a decrease in delinquent behavior but that other factors may play a moderating role in this. Methods Using longitudinal data from a general population sample of Dutch emerging adults, aged 18–24 years, fixed effects models were run examining the effect of within-person changes in financial independence on self-reported delinquent behavior. Results Using lagged models, we found that when participants were financially independent, they reported committing fewer delinquent offences in the subsequent 6-month period compared to when they were financially dependent. This effect was not moderated by individuals’ education or employment status or their living situation. Conclusions These results indicate that young people today desist from delinquency in response to gaining financial independence from parents. We discuss the role of financial independence as an important marker of adulthood.

Purpose Traditional markers of adulthood, such as marriage and parenthood, are being increasingly postponed by young adults in their 20s. Consequently, young people cite different criteria for achieving an adult status (Arnett in Youth and Society, 29:3–23, [5]). In this study, we focus on one of these, financial independence, examining how it relates to delinquency. We hypothesize that gaining financial independence, i.e., no longer receiving financial support from parents, will lead to a decrease in delinquent behavior but that other factors may play a moderating role in this. Methods Using longitudinal data from a general population sample of Dutch emerging adults, aged 18–24 years, fixed effects models were run examining the effect of within-person changes in financial independence on self-reported delinquent behavior. Results Using lagged models, we found that when participants were financially independent, they reported committing fewer delinquent offences in the subsequent 6-month period compared to when they were financially dependent. This effect was not moderated by individuals’ education or employment status or their living situation. Conclusions These results indicate that young people today desist from delinquency in response to gaining financial independence from parents. We discuss the role of financial independence as an important marker of adulthood.

At the conditions of market relationships and economic and financial independence of power companies, these are guided by the principle of achieving maximum efficiency in their actions. In the article is considered the problem formulation of HPP cascade operational mode determination, ensuring maximum profit from the sales of the generated electric power at the day-ahead market. Dynamic volumes of reservoirs are taken into account using the lag time between the waves of HPP water flow. The problem solution using the method of statistical modelling is approbated on the example of hypothetical cascade of three HPP. The results of the modelling of cascade operating regime are illustrated graphically.

Necessity of an integrated estimation of Ukrainian enterprises’ financial condition which would be based on modern domestic standards of the account and the reporting is proved, using their information base of the domestic enterprises, taking into account specificity of their branches. The necessity of domestic practice’s adaptation to approaches of the analysis of the enterprises’ financial condition in Ukraine is underlined., Обоснована интегральная оценка финансового состояния украинских предприятий, которая базируется на современных отечественных стандартах учета и отчетности, используя их информационную базу с учетом специфики отраслей. Подчеркнута необходимость адаптации отечественной практики к подходам анализа финансового состояния предприятий Украины., Обумовлена інтегральна оцінка фінансового стану українських підприємств, яка базується на сучасних вітчизняних стандартах обліку і звітності, використовуючи їх інформаційну базу з урахуванням галузевої специфіки. Підкреслена необхідність адаптації вітчизняної практики до підходів аналізу фінансового стану підприємств України.

In April 2005, the Koizumi cabinet submitted a bill to the Japanese Diet that generated great debate within the Japanese government and the public alike. The bill called for the privatization of Japan Post, which is the main body of the Japanese postal service. In July 2005, the House of Representatives passed a bill by 5 votes in favor of the privatization of Japan Post. In August, the House of Councilors voted down the bill by 17 votes, regardless of an admonition by Mr. Koizumi of a possible call for dissolution of the Diet. As a result, Prime Minster Koizumi dissolved the House of Representatives and called for re-election over this contentious issue. On September 11, 2005, Japanese nationals re-elected Prime Minister Koizumi to another term in office. Although Mr. Koizumi personally believes that the privatization of Japan Post is an essential part of the central government reform he has been pursuing since the beginning of his term, there are currently many other pressing policy issues in Japan that need to be addressed. The aging of society and the decreasing birth rate should be priorities on the cabinet's agenda, as these are the primary concerns of the people. An opinion poll conducted by Jiji Press LTD shows that the public considers the most pressing issues to be social security reform, including action on pension plans, and Medicare reform. The issue of Japan Post privatization ranked 12th out of 16 issues, and was identified by only 6.7 percent of the people as their number one priority. Regardless of public opinion, Mr. Koizumi made the privatization of Japan Post his political mission, and the September election was centered entirely around this contentious issue. In this article, the author highlights the issues surrounding the September re-election of Mr. Koizumi, particularly Mr. Koizumi's argument for privatization, and what Mr. Koizumi neglected to discuss openly -- the potential risks and downsides of privatizing Japan Post., Published in Strategic Insights, v4 n11, Nov 2005.