Abdullah Saeed S Alqahtani, Hongbing Ouyang and Adam Ali
This study investigates if the changes in economic policy uncertainty in the U.S. can explain the returns on stock markets of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The study also examines how the stock market returns of the six GCC countries respond to the changes in economic policy uncertainty in the U.S. The results demonstrate that changes in economic policy uncertainty in the U.S. are not significantly linked with the returns on all the stock markets except Oman stock market, which shows a statistical significant negative relationship with the changes in economic policy uncertainty in the U.S. Controlling for the effects of the U.S. stock market and oil price, returns on all the six GCC markets including Oman show insignificant coefficients. The returns on all the stock markets do not respond to the changes in economic policy uncertainty. The results of Granger causality tests show that the changes in economic policy uncertainty in the U.S. do not cause the returns of all the six GCC stock markets.
The aim of the article is to present the significance of neighbouring countries in the structure of inbound tourism for the member countries of the European Union. In order to achieve this aim, some secondary materials presenting the volume and the structure of tourist traffic in the analysed countries have been referred to. The structure of the article allows the Author to provide a detailed analysis of the particular problems in the discussed field. Firstly, a review of scientific literature on tourist traffic and the significance of neighbouring countries for inbound tourism is provided. The next part of the text presents the countries adjacent to the European Union member states. Subsequently, the significance of these destinations is indicated, due to the data that present the structure of inbound tourism. It transpires that in most analysed countries, their neighbouring states come as a significant - and often even the most important - segment in inbound tourism. Furthermore, neighbouring countries often take the top positions on the list of the countries the citizens of which visit particular destinations most frequently. The analysis of the structure of inbound tourism in Poland in the years 2012-2016 also indicates that the neighbouring markets form the most important segment, regardless of some changes that took place during the analysed time period. Due to the review of some relevant documents, it is indicated (on the example of Poland) that neighbouring countries are often of priority significance in the assumptions and development plans for tourism, although the ranks of the particular countries can be different. On one hand, the considerations presented in the article allow the Author to evaluate the significance of neighbouring countries for inbound tourism in the particular countries; on the other hand, they indicate the necessity of including these countries into the tourism policy, along with promotion activities undertaken in the foreign markets.
Gabriela Misiura and Małgorzata Rozkwitalska
The aim of this study was to show the relationship between the level of the confidence indicator and the innovation of the economies of individual Scandinavian countries in the context of the new institutional economy (NEI). Literature studies and analysis of available results of social research indicate the importance of formal and informal institutions in Denmark, Sweden, Norway and Finland in making these countries world leaders in innovation.
Stefan Tokarski and Karolina Oleksa-Marewska
As a result of socio-economic transformations and development of the Information Era, the competitive advantage of enterprises is based on intellectual capital. Competent employees as owners of knowledge, skills and creativity, essentially contribute to the strengthening of the position taken by their organisation on the market. In order to allow employees to use their capabilities in an effective way, it is crucial to provide them with favourable organisational conditions, which constitute organisational climate. The concept of organisational climate refers to employees’ perception of organisational conditions, which can be combined with the first level of economic analysis in the approach presented by New Institutional Economics, according to the model presented by O. Williamson (2000, p. 597). It is assumed that the employees’ positive assessment of the organisational climate is correlated with a higher level of the employees’ commitment, which leads to an increase in the competitive advantage of an organisation. In order to verify the hypothesis, some quantitative surveys have been carried out among knowledge workers (N = 639). In the research, two questionnaires have been used: the Organisational Climate Questionnaire (authors: L. Rosenstiel and R. Bögel) and the Oldenburg Burnout Inventory (OLBI developed by E. Demerouti), which examine the level of burnout and commitment to work. The results of the statistical analysis have shown a significant, strong relationship between the assessment of organisational climate dimensions and the level of employees’ commitment to work, which contributes to an increase in the competitive advantage of an enterprise.
The aim of the article is to present budget deficit and government debt in the European Union member states, with particular consideration of the countries that belong to the PIIGS group. This paper has focused on the scale of these phenomena, on their reasons and on some attempts made to improve the unfavourable situation. In the main thesis presented in the article, it is stated that budget deficit and general government debt come as significant threats to economic security of the European Union (EU) countries. The research methods that have been applied in the study involve descriptive analysis and statistical data analysis.
Ashir In Tishar and Syed Hasanuzzaman
Income tax non-compliance is worldwide delinquent and with the small volume of income tax collection Bangladesh has been facing its demerits for a long time. There is still a gap to measure income tax non-compliance behaviour in a micro direct approach. This study uses EVSCALE instrument to calculate the individual income tax non-compliance as a latent variable. The instrument consists of 15 items in Likert scale to measure the non-compliance behaviour of a person. The objective of this study is to identify the determinants of income tax non-compliance and key factors of EVSCALE in Bangladesh. The study collected opinions of taxpayers by primary data collection following a convenient sampling method. Logit regression analysis finds out that log monthly income, tax morale, tax education and occupation significantly influence income tax non-compliance. Exploratory factor analysis identifies six key factors that have consistency and shared variance. However, Cronbach’s alpha shows that five key factors have high reliability among six factors. According to rules of thumb, this study suggests that EVSCALE instrument needs modification by adding more items. This study argues that increasing participation in taxation system is a feasible policy for government instead of increasing tax rate.