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This study empirically tests the impacts of equity structure on strategic investment psychology in green affairs in R&D vs. Marketing dimensions and company performance. Based on data from Chinese high-tech industry listed companies, the empirical results show that: (1) the largest shareholder’s shareholding ratio has a positive effect on marketing investment psychology and a negative impact on R&D investment psychology, (2) other large shareholders’ shareholding ratio are positive related to R&D investment psychology; (3) R&D investment psychology has a negative effect and marketing investment psychology has a positive influence on the current performance; (4) equity counterbalance is positive related to R&D investment psychology and has a negative effect on the current performance. This study contributes to the literature of corporate governance on sustainability issue by providing a new psychological perspective. The results also provide an important guidance for the corporate governance practice in green economies.

Bearing in mind the current instability in the definition of the objectives of a company and the alignment of all members of a company with these objectives, it is fundamental for organizations to have an effective Corporate Governance Model, which maximizes the interests of shareholders. This need for the creation of effectiveness is enhanced in organizations with peculiar equity structures. Thus, this project includes the analysis of some of the key conditions for an effective Corporate Governance and then the study of a particular Portuguese company in the air industry, which has had frequent equity structure changes and is now 50% owned by the state. Therefore, the aim of the project is to identify Corporate Governance trends and relate these trends to the company's equity structure. Through the analysis of relevant documents of the company and some insights of current and past members of the latter, belonging to Governances with different equity structures, it could be concluded that there are no significant differences in the models and procedures adopted within both Governances, mainly due to the fact that the Management of the company was private in both moments. Moreover, it could also be concluded that there still is a long path to be gone through by the company in order to improve its Corporate Governance.

Capital is key to achieve the standardized operation of public&ndash, private partnership (PPP) projects. The capital structure of PPP projects stresses the structure of equity and debt funds, which are important for securing life-cycle ample funds and achieving the expected outcomes of projects. By incorporating sustainability into PPP projects, the capital structure not only secures current needs of funds, it also focuses on life-cycle stable operations and achieves economic, social, and environmental benefits. This study first set the equity&ndash, debt ratio and equity investment ratio of the private sector as the dependent variables and built a selection model of the capital structure of PPP projects from a sustainability perspective using the benefit, cost, and project conditions as core factors based on multi-objective programming and a discounted cash-flow model. Then, the qualitative analysis could be achieved according to the analysis of critical factors that had not been calculated. Afterwards, a selection process which combined the multi-objective programming model with qualitative analysis was proposed to achieve a comprehensive selection of the capital structure of PPP projects from the sustainability perspective. Finally, the process was applied to a real project to verify its rationality and usability. This study not only enriches the theoretical research of PPP projects and provides a new idea on which to build the capital structure selection model, it also proposes a selection process that can provide scientific references for the selection and optimization of the capital structure of PPP projects in practice.

Стаття присвячена процесу діагностики ефективності структури власного капіталу енергогенеруючих компаній. В статті удосконалено науково-методичний підхід до діагностики ефективності структури власного капіталу акціонерних товариств енергетики. Визначено основні стадії діагностики та коефіцієнти ефективності структури власного капіталу акціонерних товариств. На його основі досліджено структуру власного капіталу п’яти енергогенеруючих акціонерних товариств, визначено ступінь її ефективності, обґрунтовано основні тенденції розвитку. Крім того, виділено ключові проблеми, що пов’язані з неоптимальним співвідношенням елементів структури капіталу енергогенеруючих компаній. Надано практичні рекомендації щодо удосконалення структури власного капіталу та підвищення ступеню її ефективності. Такими рекомендаціями є підтримка забезпечення активів власним капіталом на рівні 9-15%, фінансування частки активів за рахунок нерозподіленого прибутку, погашення значної частини короткострокової заборгованості для зменшення рівня фінансового тиску на підприємство, регулювання процесу випуску акцій та виведення частини з них для реалізації на фондовий ринок. Пропоновані рекомендації дадуть змогу оптимізувати структуру власного капіталу акціонерних товариств та підвищити рівень її ефективності. The article is dedicated diagnostic process of the equity structure efficiency of the power generating companies. In the article, the scientific and methodical approach to diagnostic of efficiency of equity structure at the power generating corporations is improved. The crucial stages of efficiency diagnostic of equity structure at the power generating companies. The article highlights the main factors of the equity structure efficiency of joint stock companies. Based on the advanced approach, the structure of equity of five power generation corporations and the degree of its efficiency were investigated. On this basis, the main trends of equity structure and its efficiency for power generation corporations were grounded. In addition, the research highlights the key problems associated with optimal equity structure of elements of power generating companies. Practical recommendations for improving the equity structure and its performance were introduced. These provided recommendations are to support equity share at the 9-15% level form the assets, to support financing through retained earnings, to repay a large part of short-term debt in order to reduce the level of financial pressure. Besides, to regulate of the issue of shares and set their part at the stock market. The implemented recommendations will make it possible to balance the equity structure of joint stock companies and increase its effectiveness. Статья посвящена процессу диагностики эффективности структуры собственного капитала энергогенерирующих компаний. В статье усовершенствован научно-методический подход к диагностике эффективности структуры собственного капитала акционерных обществ энергетики. Определены основные стадии диагностики эффективности структуры собственного капитала акционерных обществ. Было выделено основные коэффициенты эффективности структуры собственного капитала акционерных обществ. На основе усовершенствованного подхода, исследовано структуру собственного капитала пяти энергогенерирующих акционерных обществ, а также определенно степень её эффективности. После чего, обосновано основные тенденции развития структуры капитала и ее эффективности для энергогенерирующих акционерных обществ. Кроме того, выделено ключевые проблемы, которые связаны с неоптимальным соотношением элементов структуры капитала энергогенерирующих компаний. Предоставлено практические рекомендации по усовершенствованию структуры собственного капитала и повышению степени эффективности. Такими рекомендациями являются поддержка обеспечения активов собственным капиталом на уровне 9-15%, финансирование части активов за счет нераспределенной прибыли, погашение существенной части краткосрочной задолженности для уменьшения уровня финансового давления, регулирование процесса выпуска акций и вывод их части для реализации на фондовый рынок. Данные рекомендации помогут сбалансировать структуру собственного капитала акционерных обществ и повысить уровень её эффективности.

Društva kot najštevilčnejša oblika prostovoljnega povezovanja ljudi so urejena z Zakonom o društvih, v katerem je določena ustanovitev, organizacija, delovanje in prenehanje društva. Društva temeljijo na prostovoljnem članstvu ter na nepridobitnosti namena. Primarni cilj društev ni pridobivanje dobička, pač pa gre za prostovoljno, samostojno in nepridobitno združenje, čigar člani povežejo svoja znanja in izkušnje za doseganje skupnih ciljev, hkrati pa zadovoljujejo tudi širši interes okolja, v katerem delujejo. Športni klubi so v Sloveniji tradicionalno organizirani kot društva, kljub temu da ni nikakršnih pravnih zadržkov, da bi imeli status kakšne druge pravne osebe. Društva predstavljajo za manjše športne klube tudi najlažji način poslovnega vodenja. Vodenje poslovnih knjig in izdaja letnega poročila se usklajuje s slovenskim računovodskim standardom za društva in invalidske organizacije številka 33. Za optimizacijo delovanja športnega kluba je potrebno poznati samo športno dejavnost in pa zakonodajo na tem področju. Le-to določa Zakon o športu. Pri športnih društvih je potrebno nenehno iskanje potencialnih financerjev, saj je od tega odvisen njihov razvoj. Pomembno je, da si društvo zagotovi čim več virov financiranja, saj je na ta način organizacija manj občutljiva na nihanje sredstev iz določenega vira financiranja. Viri financiranja se delijo na lastne vire sredstev, zasebne prispevke ter javna financiranja. Davčne obveznosti društva določajo Zakon o davku od dohodkov pravnih oseb, Zakon o davku na dodano vrednost, Zakon o dohodnini in Zakon o davčnem postopku. Diplomsko delo vse tri temeljne davke predstavlja, usklajuje in optimira. Prav tako je predstavljena davčna optimizacija v primeru profesionalizacije športnega društva. Society, as the most numerous form of voluntary association of people governed by the Zakon o društvih, in which is defined the creation, organization, operation and desistence of the Society. Societies based on voluntary membership and the non-profit purposes. The primary objective is not creation of profit, but it is a voluntary, independent and non-profit association, whose members connect their knowledge and experience to achieve common goals, same time they meet also targets and wider interest of the environment in which they operate. Sports clubs are in Slovenia traditionally organized as a society, despite the fact that there are no legal obstacles that they couldn’t have status of any other legal entity. The Society organization for the smaller sports clubs is the easiest way of business management. Keeping the accounts and issue annual business reports should be adjusted with the Slovenian Accounting Standard for associations and disability organizations number 33. For optimization of operation in the sports club is only necessary to know the sports business and the law in this area. This is defined in Zakon o športu. In sports clubs is necessary of constantly looking for potential funders, because this depends on their development. It is important that the Society gets as much as possible of the different sources of financing, because this way the organization is less sensitive to oscillation of funds from a long term source of funding. Sources of funding are broken down into its own funds, private contributions and public financing. Tax liabilities of clubs provide Zakon o davku od dohodkov pravnih oseb, Zakon o davku na dodano vrednost, Zakon o dohodnini in Zakon o davčnem postopku. My diploma work all three basic taxes: represents, coordinates and optimize. It is also presented tax optimization in case of professionalization of sports clubs.

Theories explaining the equity ownership structure of inter-firm relationships, such as the resource-based view or transaction cost economics, commonly assume a significant role for managerial choice, but this assumption is rarely assessed for its realism. In this study, we use the policy capture methodology to directly assess whether managers choose according to theory (and which theory). In a sample of 66 experienced managers, we find that managerial choices of equity ownership are indeed influenced both by competitive advantage and transaction hazards, though to a greater extent by competitive advantage. Further, only competitive advantage influences managers’ choices about the extent of equity ownership in their partner; transaction hazards motivate the choice of some equity over none. We discuss implications for how inter-firm relationships are and ought to be designed.