Browse

You are looking at 51 - 60 of 759 items for :

  • Mathematics and Statistics for Economists x
Clear All
Open access

Sylwia Morawska, Błażej Prusak, Przemysław Banasik and Beata Woźniak-Jęchorek

Abstract

The aim of this paper is to fill the cognitive gap regarding the role of sanctions in the protection of a creditor’s property rights in the event of an entrepreneur insolvency. The impact of sanctions on transaction costs, including their identification and types, as well as the impact on the protection of creditor rights, has been poorly recognized in the subject literature to date. This article investigates the theory of transaction costs and property rights by providing an identification and description of formal negative sanctions, as well as their impact on counteracting the appropriation of creditors’ rights in bankruptcy proceedings. These studies are part of the discussion on the role of formalized negative sanctions, in terms of enforcing behaviours expected by the legislator.

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

Jan L. Bednarczyk and Katarzyna Brzozowska-Rup

Abstract

The article presents the results of estimating economic growth depending on the inflation levels in selected countries. The results were obtained by means of regression splines, in particular, cubic splines and a B-spline curve. The method applied helps to identify both the area of Non-Decreasing Economic Growth Rate of Inflation and inflation for which the rate of growth reaches its maximum. The calculations and graphic presentations demonstrate that maximum rates of economic growth were reached in inflation ranges of 5%-15% for Poland and 3%-16% for the G-20 countries studied. The data analysis leads to the conclusion that central bank margins for their accommodative monetary policies in the studied countries can be wider than it is implied by the doctrinal bases of the inflation targeting policy or its more restrictive version – strict inflation targeting.

Open access

Beata Bieszk-Stolorz

Abstract

The goal of the article is the assessment of the relative intensity of exiting from unemployment of long-term unemployed people with relation to their characteristics: gender, age, education, seniority and the number of subsequent registrations. The modified Lunn-McNeil model for various types of competing events: accepting the job, refusal and remaining causes of de-registration was used in the research. The modification consisted of the application of the stratified Cox model of non-proportional hazard, which allowed to assess the relative hazard after entering the state of long-term unemployment. The individual data of persons registered in the County [Powiat] Labour Office in Szczecin were used in the research. Age had the greatest impact on the change in relative hazard at the transition to long-term unemployment, while the level of education had no significant impact. The research made it possible to identify groups of people taking up work with the least intensity and refusing to take up jobs with the greatest intensity. These people should be taken into consideration during the process of creating the labour market policy.

Open access

Rok Črešnar and Senta Jevšenak

Abstract

The main purpose of this paper is to assess a possible impact millennials will have on the future business environment of Industry 4.0, based on their personal value orientations. Millennials are taking over important roles in organizations, but their personal values are significantly different from those of older generations. This paper shows that, based on the Schwartz’s value survey with N=371 Slovenian respondents, millennials are in general more inclined toward values connected to personal growth and freedom from anxiety, emphasizing self-transcendence and openness to change, than toward self-protection and anxiety avoidance, understating conservation and self-enhancement values. These cognitions can have significant implications in shaping the future business environment of Industry 4.0, as it can become more open, understanding, collaborative, accepting, and generally more supporting, thus creating the evident millennials’ effect. Even though millennials are in general well prepared for the future business environment, organizations will have to, in order to retain the millennials, reshape their current organizational environment to better reflect the millennials’ views.

Open access

Maja Rožman, Zhanna Shmeleva and Polona Tominc

Abstract

In light of globalization and modern business, companies are typically exposed to challenges caused by unpredictable and complex competitive environments. The business environment, with global trends and stringent competition in the world market, now faces significant changes that companies should introduce into their current business operations. Among them, the human resource management of knowledge employees has become extremely important. The main aim of this article is to establish the impact of components of knowledge management on work engagement of employees in Slovenian companies. In the empirical part of the research, a sample of 112 Slovenian companies was obtained. Senior managers of companies and their employees were surveyed, using the questionnaire developed based on existing measurement scales. The results will help us to better understand the importance of knowledge management in Slovenian companies and its importance as a business strategy that must be fully integrated within all of the employees’ related processes of the company.

Open access

Alphonse Kumaza

Abstract

Social responsibility has received great authorial comments on making business commitments compensatory for corporate profits and/or rent-seeking in host communities. Unfortunately, that voice remains silent on the fundamental component of business responsibility and its improvement, i.e., governance policy. The paper, consequently, recommends a corporate policy for equitable and compensatory corporate citizenship in local communities. To justify the proposition, three objectives are established: proof that social responsibilities can improve with a governance policy, that authoritative policy represents a crucial change in social initiatives execution, and that policy absence incentivises implementation ineffectiveness and commitments paucity. Triangulation of interviews and survey data through SPSS analysis shows statistically significant coefficients validating the claim that corporate governance policy is an enrichment and facilitator of social responsibilities. The proposed policy framework will not only deliver competitive, scientific, objective, and excellent services but also represent a novel and future academic investigation.

Open access

Biliqees Ayoola Abdulmumin, Oyebola Fatima Etudaiye-Muhtar, Abdulrasaq Taiye Jimoh and Ola Ridwan Sakariyahu

Abstract

Financial inclusion is crucial for redistribution of economic resources between the deficit and surplus units in an economy. Despite the importance of financial inclusion, especially for economic growth of developing regions such as Sub-Saharan Africa, the prevailing level financial inclusion remain an open question. Against this background, this study investigates the level of financial inclusion in Sub-Saharan Africa between 2005 and 2015. This study employs secondary data obtained from the International Monetary Fund (IMF). The data obtained was subjected to Principal Component Analysis to determine the level of financial inclusion in Sub-Saharan Africa. The findings show that Sub-Saharan Africa has a medium level of financial inclusion during the observed period with Index of Financial Inclusion (IFI) value of 0.095023. The study concludes that Sub-Saharan Africa has high propensity to achieve a high level of financial inclusion in the region if more outlets of financial institutions are established.

Open access

Wolfgang Zank

Abstract

The German unification in 1990 generated many benefits, but also many disappointments. After the introduction of the monetary union between the GDR and West Germany on 1 July 1990, the East German industry collapsed, and mass unemployment became persistent. Ever since the modalities of the monetary union have been discussed controversially. This paper reconstructs the decision-making processes and negotiations towards monetary union. To a high extent, this reconstruction is based on original documents. Early on in Bonn a consensus was reached that monetary union had to be introduced soon, the rapid decline of the GDR making stepwise approaches impossible. Many officials were aware of the detrimental effects of a 1:1 conversion of the wages. But few dared to go against the widespread demands for 1:1 in the GDR population and government, not the least because of over-optimistic promises before the elections in the GDR in March 1990.

Open access

Michł Litwiński

Abstract

Recently, there has been observed intensified research on the impact of income inequalities on aspects of socio-economic development in the European Union. However, there are no comprehensive analyses concerning the relationship between these phenomena. Therefore the subject of the paper is the influence of income inequalities on socio-economic development. The author would like to verify the hypothesis that the character of the impact of income inequalities on socio-economic development in the European Union is negative. Analysis was conducted for the European Union in 2004-2017 using the panel data model, also estimated was the synthetic indicator of socio-economic development. The research conducted in the paper leads to ambiguous conclusions. On the one hand, inequalities measured for the whole distribution of income have no influence on socio-economic development in the European Union. However, the income gap between the richest and the poorest hinders the mentioned phenomenon.