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Zaheer Allam

Abstract

As the Blockchain technology is gaining momentum in popular culture through Cryptocurrencies, its full implication and application to businesses, on a concrete and factual level, is still seen to be in its infancy stage. While the technology provides numerous advantages regarding stability, trust, speed and others, the robustness of the technology is not widely disseminated. This is further coupled by the common notion of resistance to change in business management processes. This paper explores the concept of Smart Contracts through the blockchain technology and its relevance to the business sector and further outlines the advantages and limitations of its applicability as of date.

Open access

Marzena Sylwia Kruk

Abstract

Contemporary discourse on the international and national level of individual countries concerning the dilemma of sustainable development and the future of societies pays particular attention to the phenomenon of migration in Europe. The article aims to identify social factors, especially migration processes, affecting sustainable development in Europe and Poland. Synchronization of economic, social and environmental capital is to prevent the creation of one-line development plans. In addition, it is intended to eliminate potential conflicts related to uneven development. The starting point for the considerations is the definition proposed by I. Sachs "Sustainable development is a process by which it is possible to harmonize the exploitation of all natural resources, direct investment and technical and institutional changes, as well as meet the current and future needs of people according to the production and assimilation capacity of ecosystems" (Sachs, 2000) [Own translation from Polish].Specific questions and research problems arise What impact do contemporary migration processes have on sustainable development? Is sustainable development possible in a situation of growing social disproportions? How do economic migrants affect sustainable development? Foreign students, (migrants), as the capital building large urban centers.

Open access

R. Jen-peng Huang, Genesis Sembiring Depari, Sri Vandayuli Riorini and Pai-Chou Wang

Abstract

This paper identified the relevance of several publication’s characteristics of each publication in reaching more people through organic strategy using Support Vector Machines. Before finding the relevance of several inputs, 10 potential models were examined. Based on the results of 10 models examination, we found that Comments, Likes and Shares have smallest error. However, those variables represent the customer engagements, instead of reaching more people. In the other side, Lifetime total organic reach is the best model compares to other models, therefore lifetime total organic reach was selected as a model. Furthermore, page total likes were found as the most relevance input in reaching more people through organic reach. The next most relevance inputs were followed by Type, month, day and hour of publication. Eventually, we come up with a managerial implication on how to publish a post in order to reach more people through organic reach.

Open access

Laura-Augustina Avram

Abstract

Intelligence is the traditional element of interest when measuring the human cognitive abilities. However, intelligence is complex and researchers are constantly finding new angles of looking at it. One such angle is reflective reasoning. Sometimes individuals choose to override the intuitive answer and by engaging in further reflection they reach the correct answer. The cognitive reflection test (CRT) measures a person’s ability to suppress their incorrect intuitive answer in favor of reflection that should then lead to the correct response. The test contains three short mathematically based problems, which measure, among others, cognitive ability, mathematical abilities and cognitive reflection. Using a sample of 195 students from a state university, one of the largest universities in Romania, we explore the extent to which a variety of phenomena and trends identified by previous findings on CRT show similar results on our sample.

Open access

Jan Kaczmarzyk

Abstract

A non-financial enterprise with receivables or liabilities denominated in a foreign currency is exposed to currency risk. Wanting to calculate a financial reserve in order to secure its receivables or liabilities, an enterprise can introduce the concept of the value at risk. To determine value at risk, an enterprise has to know the probability distribution of the future value of the receivable or the liability for a specific moment in future. Using a geometric Brownian motion to reflect exchange rate changes is among the possible solutions. The aim of the paper is to indicate that using the Monte Carlo simulation for forecasting the currency risk of an enterprise is a clear, easy-to-implement and flexible in terms of the assumptions approach. The flexibility of the Monte Carlo approach relies on the possibility to take up the assumption that the currency position changes caused by currency fluctuations have an other than normal probability distribution.

Open access

Abdullah Saeed and Shayem Saleh

Abstract

This paper aims to examine the financial depth and efficiency and economic growth nexus in the context of Saudi Arabia and Oman. In particular, this paper addresses on how financial depth and efficiency relate to economic growth and the causal relation between financial depth and efficiency and the economic growth in Saudi Arabia and Oman. Methodological wise, this study employs a panel data of Saudi Arabia and Oman over the period of 1990 - 2015 and uses the determination of line of best to analyze the causal relations. The empirical results show that financial deepening have desirable effects on the economic growth in Oman, while increasing financial depth and efficiency has detrimental impact to economic growth of Saudi Arabia. Based on these empirical facts, we conclude that the financial deepening in Saudi Arabia is not an economic prioritized strategy, but financial deepening is an economic prioritized strategy in Oman. Two main policy implications are reached.

Open access

Hlalefang Khobai, Nicolene Hamman, Thando Mkhombo, Simba Mhaka, Nomahlubi Mavikela and Andrew Phiri

Abstract

This study sought to contribute to the growing empirical literature by investigating the effects of FDI on per capita GDP growth for South Africa using time series data collected between 1970 and 2016. Compared to the majority of previous studies, we use quantile regressions which investigates the effects of FDI on economic growth at different distributional quantiles. Puzzling enough, the empirical results show that FDI has a negative influence on welfare at extremely low quantiles whereas at other levels this effect turns insignificant. Contrary, the effects of domestic investment on welfare is positive and significant at all levels. Collectively, these results have important implications for policymakers in South Africa.

Open access

Alicja Fraś

Abstract

Mutual fund fees are extraordinarily high in Poland – almost three times higher than in Western Europe and almost five times higher than in the United States. In fact is that from among 183 Polish open-ended stock mutual funds as many as 81 impose a management fee of 4%, which is the highest value in the sample. The question arises whether it is really worth to invest in funds from the more expensive group. Comparing funds charging the highest fees (4%) with the cheaper ones it seems that there is no statistically significant difference between rate of return, risk and efficiency. However, more expensive funds have on average higher costs, are three years older and have almost 70% bigger assets. This may suggest that a well-established market position – not performance – is the trigger for raising their fees. Interestingly, funds with a relatively high minimal initial contribution level (5,000 PLN) have significantly lower management fees with similar costs, total assets value and performance results. Further analysis has also indicated that the costs level (Total Expense Ratio) is higher for older funds, while it is not related to funds’ size.

Open access

Agnieszka Piechocka-Kałużna

Abstract

The aim of this paper is to analyse matters of truth, which is inherent issue of accounting (and therefore in reporting, as its part), which is reflected in the true and fair principle (TFV). The paper demonstrates the essence of the TFV principle and the evolution of its role and place among the set of qualitative characteristics of financial statements. After examining the changes in the development of the perception of TFV the paper makes an appraisal, gives the author’s comments and contribution by providing direct implications for regulators and the setters of standards. With respect to typical limitations regarding behavioural studies, the paper provides practical as well as social implications about understanding of the TFV concept and its effect on both the preparers and users of financial statement.

Open access

Natalia Nehrebecka

Abstract

The purposes of this article are to present validation techniques according to their discriminatory power, while indicating the reservations about such techniques, and to check the adjustment of the existing Polish bankruptcy prediction models in the context of their discriminatory power. This is the first study that performs a validation of such models. Based on the analysis, it was found that the fifth model developed by Hadasik was characterised by avery high discriminatory power. The decision was made to base the evaluation of the discriminatory power of the modules on the Gini index, the Kolmogorov-Smirnov statistic, the H measure, the information value (IV), and the precision of the estimates of bankruptcy.