The studies deal with analysis of household indebtedness evolution. There is examined causes and consequences of development of debt. Work describes evolution of household indebtedness in banking and non-banking institution. It evaluates influencing factors of household debt. It provides comparison of indebtedness Czech households compared with households of EU countries.

Swedish households are borrowing like never before: the debt to income ratio, consumption loans and the amount of debt registered with the Swedish Enforcement Authority have been steadily increasing over the last decade. Meanwhile, life-changing events such as unemployment, divorce and sickness have been identified as drivers of over-indebtedness. The objective of this thesis is to establish whether there is a link between life-changing events and the level of debt with the SEA on the aggregate level. The data comes from various Swedish government agencies between 2010 – 2019. The method applied is a population weighted Ordinary Least Square model with time and municipality fixed effects. The results indicate that an increase in unemployment and divorce rates correlate with an average increase in the share of the population indebted to the Swedish Enforcement Authority. This applies to both men and women, but the association is stronger for men.

The level of indebtedness in Sweden has been rising substantially and is well above thelevels prevalent in other countries. Consequently, the government introduced anamortization requirement in 2016, which was further strengthened in 2018, in order tolower the risk that a high level of debt might constitute for both households as well asfor the economy. We analyse whether mortgage repayment has an effect on the level ofindebtedness and we contribute to the present studies by investigating the effect of anamortization requirement by predicting long term consequences. In order to answer ourresearch question, data from Sweden and Finland is used, two countries that despitemany similarities have very different mortgage repayment cultures. By conducting apanel data analysis, we prove our hypothesis that amortization has a significant effect onthe level of indebtedness. However, we do also discuss that cultural factors might becrucial in determining the actual effects of a mortgage payoff requirement. Yet, weconclude that amortization might be a good start to decrease the high debt level inSweden.

This thesis analyses the structure of indebtedness of citizens in the Czech Republic and Slovak Republic. Emphasis is put on segmentation of loans based on microeconomic characteristics. Classification involves not only parameters of loans, but also attributes of creditors and debtors. The objective is to provide an integrated overview of categories of indebtedness of households and their comparison for both of the analysed countries.

No abstract available / Dissertation (LLM)--University of Pretoria, 2012. / Mercantile Law / unrestricted

Master of Science / Department of Agricultural Economics / Allen M. Featherstone / The number of farmer suicides has been high in Andhra Pradesh, Karnataka, Kerala, Maharashtra, and Punjab since 2000. Farmers‟ suicide in India is reported to be due to the burden of debt. While it makes some sense to attribute farmer suicides in Kerala, Karnataka, Maharashtra, and Andhra Pradesh to indebtedness in view of the widespread poverty, it is more difficult to consider in the context of the Punjab which is known for its prosperity. Others have found that the prime cause for farmer suicides is indebtedness. The purpose of this research focuses on identifying and quantifying the reasons for farmers‟ indebtedness compared to non-indebted farmers in the same region. This was achieved by documenting the socio-economic profile of the farmers; studying the extent of indebtedness and pattern of capital use by farmers, and evaluating the farm business performance. Results obtained for the socio-economic profile of the farmer indicated that age, education, family size and landholding had a significant effect on the probability of a farmer being indebted. Family size had the largest effect on the probability of indebtness. A study on the extent of indebtedness and pattern of capital use showed that farmers depend on non-institutional loans for meeting their financial needs and some loans are used for non-agricultural purposes. Farm business performance of the sample respondents showed that they had a negative balance on farm business performance. Some of the methods to improve the situation would to improve and expand free and compulsory primary education, thereby reducing the debt incurred on education; diversifying towards high value/more remunerative crops, reviewing the system of subsidization of agricultural inputs, and expanding institutional sectors for providing loans at reasonable interest rates.

The aim is to monitor the situation in the credit market, focusing mainly on non-banking sector and make comparison with the banking sector. The paper will also address the problem of indebtedness. It will also address the possibility of recovery, under Czech law.

Este trabalho é composto por dois artigos que visam abordar pontos pouco explorados na literatura da economia agrícola brasileira sobre a heterogeneidade produtiva das agroindústrias sucroenergéticas, em termos de desempenho (eficiência produtiva e produtividade total dos fatores - PTF), e a sua relação com a estrutura de capital destas empresas entre 2006 e 2015. Após uma breve introdução ao tema no primeiro capítulo, analisa-se no segundo capítulo, a evolução da eficiência produtiva entre as usinas de açúcar e etanol no Brasil, através da Análise Envoltória de Dados (DEA) e do índice de Malmquist e suas decomposições. Os resultados indicam que não há um padrão único e bem definido de eficiência e produtividade entre as empresas do setor ao longo do período avaliado, configurando-o como heterogêneo sob o ponto de vista de práticas de gestão e adoção tecnológica. Adicionalmente, observa-se que se intensificou a diferença entre as empresas, de forma que coexistem empresas tecnologicamente atrasadas e com baixos níveis de eficiência, em oposição a empresas eficientes e que empregam modernas práticas de gestão e tecnologias. Por fim, nota-se também uma redução dos níveis de produtividade e intensa variabilidade desta ao longo do período analisado. O segundo artigo, no terceiro capítulo, investiga a relação entre performance e estrutura de capital das empresas de açúcar e etanol no Brasil, através de duas hipóteses: i) uma maior alavancagem reduz os custos de agência, bem como a ineficiência e, assim, leva a uma melhoria no desempenho da empresa, como preconizado por Jensen e Meckling (1976) e ii) em sentido reverso, as empresas com melhor desempenho optam por menores níveis de alavancagem - hipótese eficiência-risco (efficiency-risk hypothesis), conforme proposição de Berger e Bonaccorsi di Patti (2006). Os resultados não descartam a hipótese do custo de agência dos acionistas externos junto ao setor sucroenergético brasileiro, de forma que uma maior alavancagem está associada a um melhor desempenho da empresa, especificamente, para empresas com níveis de dependência financeira superiores a 57,52%. Utilizando a análise de regressão quantílica, constata-se que há um efeito negativo entre o desempenho da empresa e a sua alavancagem para todos os valores de eficiência até cerca de 0,57, indicando que a hipótese eficiência-risco não é válida para todos os valores relevantes de eficiência. / This thesis is made up of two articles that aim to address little explored points in the literature of the Brazilian agricultural economy on the productive heterogeneity of sugarcane agroindustries in terms of performance (productive efficiency and total-factor productivity - TFP), and its relationship with the capital structure of these companies between 2006 and 2015. After a brief introduction of the theme in the first chapter, the second chapter analyzes the evolution of the productive efficiency between sugar and ethanol mills in Brazil through Data Envelopment Analysis (DEA) and the Malmquist index and its decompositions. The results indicate that there is not a single and well-defined pattern of efficiency and productivity among the companies in the sector during the period evaluated, configuring it as heterogeneous from the management practices and technological adoption point of view. In addition, it is observed that the difference between companies has intensified, so that technologically backward companies with low levels of efficiency coexist, as opposed to efficient companies that employ modern management practices and technologies. Finally, there is also a reduction in productivity levels and intense variability over the analyzed period. The second article, in the third chapter, investigates the relationship between performance and capital structure of sugar and ethanol companies in Brazil, through two hypotheses: i) higher leverage reduces agency costs as well as inefficiency, leading, thus, to an improvement in the performance of the company, as stated by Jensen and Meckling (1976) and ii) in reverse, the companies with better performances opt for lower levels of leverage - efficiency-risk hypothesis, according to proposition of Berger and Bonaccorsi di Patti (2006). The results do not rule out the hypothesis of the agency cost of external shareholders in the Brazilian sugar- energy industry, in such a way that greater leverage is associated with a better performance of the company, specifically for companies with financial dependency levels above 57.52%. Using quantile regression analysis, it is possible to see that there is a negative effect between the company\'s performance and its leverage for all efficiency values up to about 0.57, indicating that the efficiency-risk hypothesis is not valid for all relevant values of efficiency.

Bastante recorrente na área de Finanças Corporativas, o estudo da estrutura de capital das empresas continua despertando o interesse de muitos pesquisadores. No entanto, a maioria das existentes trata da escolha da empresa no que diz respeito ao uso de capital próprio ou de terceiros para financiar suas atividades. Entendendo que esta decisão envolve também a opção sobre que tipo de recurso de terceiro utilizar, o presente estudo analisa a composição do endividamento da empresa em relação à fonte de financiamento: se recursos privados (i.e. dívida bancária) ou públicos (i.e. títulos de dívida). Para tanto, foram estimados modelos estatísticos tendo como variáveis as informações financeiras de empresas brasileiras com ações listadas na Bolsa de Valores de São Paulo (BOVESPA) e na Sociedade Operadora do Mercado de Ativos (SOMA) e não atuantes no setor de Finanças e Seguros. Os testes foram realizados para duas amostras distintas: uma com o total de empresas e outra apenas com as empresas que efetivamente acessaram o mercado público de dívida corporativa. Foram utilizados dados em painel e três métodos de estimação: pooled, efeitos aleatórios e efeitos fixos. Os resultados apontaram que as empresas, em geral, consideram questões relativas às suas oportunidade de crescimento futuro, disponibilidade de ativos tangíveis, nível de alavancagem e lucratividade são as variáveis relevantes para a tomada de decisão sobre que tipo de dívida utilizar. Mas a partir do momento que passam a ter acesso ao mercado público, o custo da dívida passa a ser importante, assim como o total de ativos imobilizados e nível de endividamento. Tem-se ainda que optam pela dívida privada aquelas empresas com maior potencial de crescimento e mais ativos tangíveis, além de menor lucratividade e menor endividamento. No caso das empresas com dívida pública em seu balanço, quanto menor o custo da dívida privada, maior será sua importância para as mesmas. / A subject extensively studied in the Corporate Finance theme, the capital structure researches continue to motivate annalists around the world. On the other hand, the majority of the existent papers discuss the company?s choice between own capital and third parties resources used to finance its operations. As we understand that such decision also involves the option about which third parties resources to use, the present paper analysis the company?s indebtedness composition related to the financing source: private (i.e. bank debt) or public (i.e. debt bound). For this purpose, it was estimated statistics models using as variables the financial information of the listed companies at São Paulo?s Stock Exchange (BOVESPA) and at Sociedade Operadora do Mercado de Ativos (SOMA) and that not act in the Financial Sector. The tests were done for two samples: one with all the companies and the other only with the companies that effectively used public debt. The data were disposal in panel and three models were estimated: pooled, random effects and fixed effects. The results pointed out that, in general, the companies consider the variables related to future growth opportunities, tangible assets available, indebtedness level and profitability as the major relevant to choice the type of debt related to the financing source. But when the companies access the public debt market, the debt cost becomes important, as the total tangible assets and the indebtedness level. The results also show that the private debt is preferred by the companies with bigger growth opportunities and larger volume of tangible asset, and with lower profitability and indebtedness level. For the companies with public debt on their balance sheet, the lower the private debt cost, the higher its importance to them.

This thesis deals with the fiscal behavior of households within the Czech Republic. The main areas of interest are the appropriate management of personal or family finance and the importance of household budgeting. It shows that the awareness of ones income and expenses are the basis of a financial literacy, which is still at an insufficient level. Such households are thus regarded as a weaker market article, which have to be protected either by means of education, awareness raising or modifying legislation in their favor. Specific elements in the protection of clients are intertwined throughout the work. The thesis also deals with the relationship of Czech households to consumption, savings and debt. It records the specific period of changing attitudes to the way we deal with money and establishes that households that are no longer thrifty, consume more and loans become a common part of life for them. The thesis also concentrates on the most used financial products, specifying the reason for their popularity. Also, the consequences of poor household management are described and international comparisons are included as well.