Suchergebnisse

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The government, in order to achieve the welfare of the citizens in the retirement age to keep pace with the working people, carried out the various pension systems transformations. The working people's welfare is growing due to the economic progress, so there is a theory of economics, which examines the existing income redistribution in time. It should be noted that in order to ensure the financial well-being in old age it is necessary to efficiently allocate the scarce resources. In Lithuania, the existing three pillar pension system allows each employee to contribute to their own financial well-being in the future. This article aims to assess the second pillar pension fund performance and how fund differences affect the amount of old age pension. The analysis made it possible to determine the correlation between the return generated by the fund and the number of participants in the fund; the spreadsheet is provided, which allows estimating the influence of the choice of different funds on the size of the retirement pension. It was found that fund return and the number of participants in the fund have a negative correlation. This shows that the part of households who raise money in fund with the lowest return will be much poorer, and the corresponding result is a smaller pension. It may be noted that the accumulation of different pension fund reserves have a significant impact on the future pension size (this difference can be as high as 230%).

The banking and finance sector is one of the most dynamic sectors that is continuously experiencing most of structural changes. Fast consolidation and concentration of banks globally has evoked active discussions on behalf of scientists and practitioners on the effect gained from concentrating on the efficiency and competitiveness of the banking system, financial and microeconomic stability of countries and economic development. Mergers and acquisitions of the banking sector are mostly encouraged by the target to get more authority in the international banking environment, to eliminate competitors from profitable activity and to strive for additional financial benefit for shareholders, to increase the range of the services provided, to use the resources efficiently, i. e. to create the value for shareholders and to contribute to the development of the financial sector. Therefore, the article analyses the bank mergers and acquisitions of the Lithuanian banking sector; it is assessed whether the bank mergers have created the value for shareholders and (or) the financial system. The research that has been carried out shows that mergers and acquisitions of the banking sector are take placing in order to increase the benefit for shareholders and to strive for the economy; the aspect of financial stability of such transactions appears in a short term and is most commonly inspired by the government. Modern Lithuanian banking sector has been formed by means of mergers and acquisitions; strategic investors helped transitive economy countries to guarantee the stability of the banking sector and to achieve the benefit of the economy of scale. Restructuring of the banking activities, i. e. the performance distribution can be a useful measure in ensuring stable activities of both the financial system and the accepting bank – to acquire a market share and to optimise its performance.

The banking and finance sector is one of the most dynamic sectors that is continuously experiencing most of structural changes. Fast consolidation and concentration of banks globally has evoked active discussions on behalf of scientists and practitioners on the effect gained from concentrating on the efficiency and competitiveness of the banking system, financial and microeconomic stability of countries and economic development. Mergers and acquisitions of the banking sector are mostly encouraged by the target to get more authority in the international banking environment, to eliminate competitors from profitable activity and to strive for additional financial benefit for shareholders, to increase the range of the services provided, to use the resources efficiently, i. e. to create the value for shareholders and to contribute to the development of the financial sector. Therefore, the article analyses the bank mergers and acquisitions of the Lithuanian banking sector; it is assessed whether the bank mergers have created the value for shareholders and (or) the financial system. The research that has been carried out shows that mergers and acquisitions of the banking sector are take placing in order to increase the benefit for shareholders and to strive for the economy; the aspect of financial stability of such transactions appears in a short term and is most commonly inspired by the government. Modern Lithuanian banking sector has been formed by means of mergers and acquisitions; strategic investors helped transitive economy countries to guarantee the stability of the banking sector and to achieve the benefit of the economy of scale. Restructuring of the banking activities, i. e. the performance distribution can be a useful measure in ensuring stable activities of both the financial system and the accepting bank – to acquire a market share and to optimise its performance.

The banking and finance sector is one of the most dynamic sectors that is continuously experiencing most of structural changes. Fast consolidation and concentration of banks globally has evoked active discussions on behalf of scientists and practitioners on the effect gained from concentrating on the efficiency and competitiveness of the banking system, financial and microeconomic stability of countries and economic development. Mergers and acquisitions of the banking sector are mostly encouraged by the target to get more authority in the international banking environment, to eliminate competitors from profitable activity and to strive for additional financial benefit for shareholders, to increase the range of the services provided, to use the resources efficiently, i. e. to create the value for shareholders and to contribute to the development of the financial sector. Therefore, the article analyses the bank mergers and acquisitions of the Lithuanian banking sector; it is assessed whether the bank mergers have created the value for shareholders and (or) the financial system. The research that has been carried out shows that mergers and acquisitions of the banking sector are take placing in order to increase the benefit for shareholders and to strive for the economy; the aspect of financial stability of such transactions appears in a short term and is most commonly inspired by the government. Modern Lithuanian banking sector has been formed by means of mergers and acquisitions; strategic investors helped transitive economy countries to guarantee the stability of the banking sector and to achieve the benefit of the economy of scale. Restructuring of the banking activities, i. e. the performance distribution can be a useful measure in ensuring stable activities of both the financial system and the accepting bank – to acquire a market share and to optimise its performance.

The banking and finance sector is one of the most dynamic sectors that is continuously experiencing most of structural changes. Fast consolidation and concentration of banks globally has evoked active discussions on behalf of scientists and practitioners on the effect gained from concentrating on the efficiency and competitiveness of the banking system, financial and microeconomic stability of countries and economic development. Mergers and acquisitions of the banking sector are mostly encouraged by the target to get more authority in the international banking environment, to eliminate competitors from profitable activity and to strive for additional financial benefit for shareholders, to increase the range of the services provided, to use the resources efficiently, i. e. to create the value for shareholders and to contribute to the development of the financial sector. Therefore, the article analyses the bank mergers and acquisitions of the Lithuanian banking sector; it is assessed whether the bank mergers have created the value for shareholders and (or) the financial system. The research that has been carried out shows that mergers and acquisitions of the banking sector are take placing in order to increase the benefit for shareholders and to strive for the economy; the aspect of financial stability of such transactions appears in a short term and is most commonly inspired by the government. Modern Lithuanian banking sector has been formed by means of mergers and acquisitions; strategic investors helped transitive economy countries to guarantee the stability of the banking sector and to achieve the benefit of the economy of scale. Restructuring of the banking activities, i. e. the performance distribution can be a useful measure in ensuring stable activities of both the financial system and the accepting bank – to acquire a market share and to optimise its performance.

Purpose – The new programming period of 2021–2027 of the European Union (EU) Common Agricultural Policy requires reconsidering the policy measures. In the new period, the European Commission is to allow each member state (MS) developing eco-schemes to support and/or incentivise farmers to observe agricultural practices beneficial for the climate and the environment beyond their mandatory requirements. The purpose of this paper is to compare the performance of organic and conventional family farms. Design/methodology/approach – Organic farming under the organic farming measure of the Rural Development Programme is one of the most widely applied sustainable farming practices in the EU as well as in Lithuania. By assessing the ex post economic impact of the organic farming measure on farm performance indicators, the authors seek to reveal possibilities and obstacles for the implementation of sustainable farming practices. A counterfactual ex post impact assessment method – propensity score matching (PSM) analysis – was used to evaluate ex post economic impact of the organic farming measure on the performance of farming indicators. Findings – The application of the PSM allowed assessing both the effectiveness of the implemented measure and possibilities for applying this measure in the future. The research has revealed that organic farming is less profitable and the gap between farm income in organic and conventional farms has increased during the period of 2007–2013. Originality/value – The most comprehensive economic information about the farm activities from the Farm Accountancy Data Network (FADN) was used for the ex post economic impact evaluation of the organic farming measure in Lithuania. The matched groups of Lithuanian family farms (organic and conventional) were compared. The results of the research provide a new knowledge about the effectiveness of the organic farming measure in Lithuania and suggest the ways of their improvement in the future. The results can also be generalised to other countries with similar agricultural structure.

Purpose – The new programming period of 2021–2027 of the European Union (EU) Common Agricultural Policy requires reconsidering the policy measures. In the new period, the European Commission is to allow each member state (MS) developing eco-schemes to support and/or incentivise farmers to observe agricultural practices beneficial for the climate and the environment beyond their mandatory requirements. The purpose of this paper is to compare the performance of organic and conventional family farms. Design/methodology/approach – Organic farming under the organic farming measure of the Rural Development Programme is one of the most widely applied sustainable farming practices in the EU as well as in Lithuania. By assessing the ex post economic impact of the organic farming measure on farm performance indicators, the authors seek to reveal possibilities and obstacles for the implementation of sustainable farming practices. A counterfactual ex post impact assessment method – propensity score matching (PSM) analysis – was used to evaluate ex post economic impact of the organic farming measure on the performance of farming indicators. Findings – The application of the PSM allowed assessing both the effectiveness of the implemented measure and possibilities for applying this measure in the future. The research has revealed that organic farming is less profitable and the gap between farm income in organic and conventional farms has increased during the period of 2007–2013. Originality/value – The most comprehensive economic information about the farm activities from the Farm Accountancy Data Network (FADN) was used for the ex post economic impact evaluation of the organic farming measure in Lithuania. The matched groups of Lithuanian family farms (organic and conventional) were compared. The results of the research provide a new knowledge about the effectiveness of the organic farming measure in Lithuania and suggest the ways of their improvement in the future. The results can also be generalised to other countries with similar agricultural structure.