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Open access

Ioana Raluca Sbarcea

Abstract

The banking system has undergone several transformations since its beginning up to now, some as a result of adapting to customers’ requirements that have become increasingly sophisticated, and others as a result of the economic and political contexts that have passed, which again – have required its adaptation. Regardless of the situation, the banks have undergone a large digitization process, a process that is now in progress and which in the coming years can cause a significant change in the banking we knew about 10-15 years ago. Through this paper, I propose to analyse the situation of the banking system in terms of adapting to these challenges, at the level of Romania, in the context of the current situation at global and European level, in order to highlight both the progress achieved and the gap in comparison to the other countries, much more competitive from this perspective.

Open access

Lomendra Vencataya, Sharmila Pudaruth, Roubina TD Juwaheer, Ganess Dirpal and Nabeelah Meh Zabeen Sumodhee

Abstract

In today’s hyper competitive banking arena, banking institutions are focusing on improving service quality. Providing excellent quality of service is important in creating and sustaining competitive advantage in the banking industry of Mauritius due to intense competition between local and international banks. Hence, the paper explores the impact of Service Quality (SQ) Dimensions on customer satisfaction. Using the SERVQUAL model, the paper seeks to examine the impacts of reliability, responsiveness, assurance, empathy and tangible aspects on customer satisfaction in banks of Mauritius. A sample of 200 banking customers was randomly selected and data were analyzed through SPSS version 22. The SERVQUAL model has been found as reliable factors and appropriate tool to measure, evaluate, support, and improve the quality of services in banking industry. Results indicated that all five service quality factors have significantly positively influenced customer satisfaction in banks. Regression analysis was also conducted and depicted that empathy is a significant predictor of customer satisfaction among the five SQ dimensions.

Open access

Arbana Kadriu, Lejla Abazi and Hyrije Abazi

Abstract

Background: Text classification is a very important task in information retrieval. Its objective is to classify new text documents in a set of predefined classes, using different supervised algorithms. Objectives: We focus on the text classification for Albanian news articles using two approaches. Methods/Approach: In the first approach, the words in a collection are considered as independent components, allocating to each of them a conforming vector in the vector’s space. Here we utilized nine classifiers from the scikit-learn package, training the classifiers with part of news articles (80%) and testing the accuracy with the remaining part of these articles. In the second approach, the text classification treats words based on their semantic and syntactic word similarities, supposing a word is formed by n-grams of characters. In this case, we have used the fastText, a hierarchical classifier, that considers local word order, as well as sub-word information. We have measured the accuracy for each classifier separately. We have also analyzed the training and testing time. Results: Our results show that the bag of words model does better than fastText when testing the classification process for not a large dataset of text. FastText shows better performance when classifying multi-label text. Conclusions: News articles can serve to create a benchmark for testing classification algorithms of Albanian texts. The best results are achieved with a bag of words model, with an accuracy of 94%.

Open access

Krystian Bigos

Abstract

Purpose: The aim of this article is to present the results of the research on the export of venture capi tal backed firms in the European Union countries.

Methodology: For the purpose of this article, the author created four linear regression models. He decided for export revenue to be a dependent variable. Then, the author verified the influence of four independent variables on export value.

Findings: The research found that the turnover of venture capital backed firms positively influences their export value. Moreover, the costs of employees also play an important role in export value explanation. Nevertheless, the empirical study did not confirm any strong positive correlation of analyzed firms’ export value with the number of employees and their share of shareholders’ funds in operating income.

Limitations: The analyzed period was limited only to 2016. Second, the study used only one dependent and four independent variables. Further research must include other variables, especially moderating ones, such as entrepreneurship ratio or availability of external financing forms. Third, the regression models were based on data retrieved from Orbis Database and can induce uncertainty regarding its credibility.

Originality: At present, there are still only few research studies that explore the export of venture capital backed firms.

Open access

Uwe Fachinger

Abstract

An ageing population means a growing number of healthy older people with human capital, financial resources, and time available to contribute to economic activities. However, the economic potential of older people remains mostly underused, which leads to the question, how to make best use of the underused. One way would be fostering senior entrepreneurship. The paper discusses which factors may positively influence or hinder the self-employment of older people. Overall, attention will be drawn to the relevance of older people in the field of business and entrepreneurial economics. From an economic point of view, it seems necessary not only to focus on young people but also to take into account the large and still growing economic potential of the elderly. There seems to be a treasure in waiting.

Open access

Ali Salman Emam, Juraifa Bte Jais and Mosab I. Tabash

Abstract

This study examined the influence of employee empowerment on organizational commitment, and the level to which Tribalism plays a role in the relationship between the former two variables in the context of Islamic banks in Yemen. Indeed, the rationale for introducing employee empowerment is to increase levels of employee’s commitment to ensue positive outcomes. The interrelationships between the variables were analyzed to develop a strategy for increased organizational commitment in the Yemeni Islamic banking sector. This study used a social exchange theory to illustrate the study framework to link the relations between employee empowerment, organizational commitment, and Tribalism. This study relied on quantitative approaches. The study sample comprised of Yemeni Islamic banks’ employees. 450 questionnaires were distributed to employees, out of which, 292 were retrieved and deemed usable for analysis, constituting a 65% rate of response. The partial least squares structural equation modelling (PLS-SEM) was employed to analyze data and test the proposed hypotheses. The results indicated that there is a significant relationship between empowerment of the employees and their organizational commitment in Islamic banks in Yemen. More importantly, this study revealed that Tribalism is a significant mediator on the relationship between employee empowerment, and organizational commitment.

Open access

Witold Morawski

Abstract

Purpose: The three goals of the article are: first, to show some arguments surrounding the notion of capitalism in theoretical perspective, and also somewhat bashful connotations since it was introduced in Poland after the fall of communism; second, to present some historical facts about the rise of capitalism in Poland in comparative perspective, mostly European; third, to look for cultural categories necessary for analysing the peculiarities of Polish socio-economic development as the part of so-called „the second Europe”.

Methodology: I go back to the history of European patterns of capitalist formation: Anglo-Saxon, French, German, Russian in order to show the Polish trajectory as strikingly different. Before entering the Polish case, I present Mary Douglas and Aaron Widavsky’s proposal – how to analyze four cultures: individualist, egalitarian, hierarchical and fatalistic (authoritarian).

Implications: The main finding is that economic interests are always socio-cultural constructions, hence all definitions of the real life decisions (on public vs private, risk, externalities etc.) that the people make, must frame them within working life of given culture as the combination of universalism and particularism (of above-mentioned four cultures).

Open access

Laura Bertalan, Renáta Inzsöl, Judit Hegedüs and Ferenc Jankó

Abstract

Direct sales by farmers gained acceptance in Hungary following the incursion of healthy eating and the enhancement of local economic development efforts. Conducting questionnaire surveys and interviews, our research investigated the means through which locally produced goods reach consumers, e.g., short food supply chains, as well as the farmers’ motivations and the necessary developments. According to the main results, personal direct consumer relations are vital for local farmers; however, advanced sales channels are not popular nor fully developed in Hungary. Only the capital city shows some development here, catalysing and stimulating the domestic market and consumer behaviour. On the other hand, the age structure of local farmers or the lack of knowledge hinder the advent of advanced sales channels. Nevertheless, there is a continuous and immanent need for development in this sector; although, the recent conditions of subsidies unfortunately do not support small scale local farmers.

Open access

Oana Ramona Lobont, Sorana Vatavu, Oana Ramona Glont and Lavinia Daniela Mihit

Abstract

This paper analyses the influential factors which determine the differences between social and economic dimensions in the European Union. The main objective was to construct a composite indicator of the quality of government and citizens’ well-being, and rank the EU countries based on it. The dataset refers to variables specific to economic and social wellness (latest year available is 2015), focusing on both, the objective and subjective dimension of the governance and well-being. The results obtained indicate that the countries with the highest performance in terms of the quality of government and citizens’ well-being are Denmark, Sweden, Finland, followed by Austria and the Netherlands. Differences to the rest of the EU member states are based on economic and social policies, as these countries have the highest employment rates and social protection expenditures, focusing on the risks related to unemployment, social exclusion, invalidity or aging to increase citizens’ overall life satisfaction.

Open access

Zbysław Dobrowolski and Tomasz Szejner

Abstract

Objective: The phenomenon of ethnocentrism in the public sector has not been well recognized. The study was aimed at initiating an effort to fill the research gap by introducing the concept of “public ethnocentrism” and presenting empirical evidence from a preliminary test of the concept.

Methodology: while analysing and seeking full contextual understanding of the public ethnocentrism the ethnographic public representative’s observation and open-ended interviews have been chosen. Study of public ethnocentrism in Poland have been supplemented by interviews with 11 representatives of public sector from the USA, Germany, Czech Republic, Austria, Indonesia, Malaysia, Tanzania, Namibia and Mexico.

Findings: Studies have shown a scale of willingness to use an ethnocentric attitude when making decisions in a public organization. It was found that public ethnocentrism restricts innovation by disrupting public choice.

Value Added: Two new research questions are identified.

Recommendations: There is a need to create an Ethnocentrism Perception Index (EPI). The tendency for ethnocentric behaviour should be taken into accounts when determining whether formal and informal institutions are conducive to running a business in a given country.