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Michał Biernacki

Abstract

Environmental Life Cycle Costing (ELCC) combines life cycle analysis and cost systems applied by managers in order to assess the limitations of environmental production systems. It enables the evaluation of progress in implementing sustainable development by determining the social costs of resource consumption and environmental degradation. This study presents the results of empirical research covering production enterprises with foreign equity participation operating in Poland which have the basic ELCC model in place. The research is aimed to identify the benefits and inconveniences arising from the practical application of the model as a significant factor determining its functioning in entities. The research methodology was supplemented by numerous literature items, analysis of survey questionnaires, as well as deduction and induction methods.

Open access

Garikai Makuyana and Nicholas M. Odhiambo

Abstract

This paper provides new evidence to contribute to the current debate on the relative impact of public and private investment on economic growth and the crowding effect between the two components of investment in South Africa. Using annual data from 1970 to 2017, the study applies the recently developed Autoregressive Distributed Lag (ARDL)-bounds testing approach to cointegration. The study finds that private investment has a positive impact on economic growth both in the long run and short run, while public investment has a negative effect on economic growth in the long run. Further, in the long run, gross public investment is found to crowd out private investment, while its infrastructural component is found to crowd in private investment. The results of the study also reveal that both gross public investment and non-infrastructural public investment crowd out private investment in the short run. Overall, the study finds private investment to be more important than public investment in the South African economic growth process and that the importance of infrastructural public investment in stimulating private investment in the long run cannot be over-emphasized.

Open access

Akinola Morakinyo, Colette Muller and Mabutho Sibanda

Abstract

The study builds on previous studies of the consequences of non-performing loans on an economy. Using a seven-by-seven matrix in the impulse response function (IRF) of the structural autoregressive model, we find a long-run impact of an impulse to non-performing loans on the banking system and the macroeconomy in Nigeria. Conversely, non-performing loans also respond to the innovation of all macro-banking variables aside from the exchange rate and the growth rate to GDP. Also, the level of non-performing loans grows in influence in relation to the changes to the exchange rate using the variance decomposition tool of Structural VAR. Hence, a prominent role is assigned to the level of NPLs in linking the friction in the credit market to the susceptibility of both the banking system and the macroeconomy. This study passes the serial correlation tests and the three tests of normality.

Open access

Karl Farmer and Stefan Kuplen

Abstract

Even more than eight decades since the publication of Keynes’ “General Theory of Employment, Interest, and Money” modern macroeconomists disagree on the notion of “underemployment equilibrium” with so-called “involuntary unemployment”. While the majority of macro theorists trace involuntary unemployment back to frictions and rigidities in the adaptation of wages and output prices to market imbalances, a minority position holds that even under perfectly flexible output prices and wage rates involuntary unemployment might occur. Morishima in “Walras’ Economics” and more recently Magnani presume that contrary to the majority view aggregate investment is not perfectly flexible but governed by “animal spirits” of investors. The aim of the present paper is to integrate the Morishima-Magnani approach into a Diamond-type overlapping generations’ (OLG) model with internal public debt subsequently extended by human capital accumulation. It turns out that in spite of perfectly flexible real wage and interest rate involuntary unemployment occurs in intertemporal general equilibrium when aggregate investor sentiments are too pessimistic regarding the rentability of investment in real capital. In the model extended by human capital a higher public debt to output ratio decreases unambiguously involuntary unemployment, if initially the endogenous output growth rate is higher than the real interest rate.

Open access

Susana Costa e Silva, Adriana Monteiro and Paulo Duarte

Abstract

Shoes are probably one of the most difficult products to sell online due to the high need-for-touch (NFT) displayed: people need to experiment the product before buying it, more than in any other item. On another hand, women are more prone than men to buy fashion and apparel products through the web channel. This paper investigates the factors driving women consumers to shop footwear products online. A qualitative research method was used grounded on semi-structured, in-depth interviews that were conducted to corroborate the constructs defined in the proposed conceptual model namely: convenience, recreation, NFT and social e-shopping. The interviews were focused on the demand side to understand the female consumers’ perspective and on the top managers of women’s shoes companies representing the suppliers’ viewpoint. The results show that women highly appreciate the convenience that shopping shoes online provides as well as its recreational nature. The NFT also stands out in the shoe market context mainly due to the particularities related to shoe size. Additionally, social e-shopping was found not be as important for women as anticipated as they see social networks more as a communication platform for brands, and less as a factor that influences their predisposition to shop shoes online. On the suppliers’ side, the interviews revealed that managers believe in bloggers and social media influence and its consideration as part of the overall marketing strategy.

Open access

Mduduzi Biyase and September Rooderick

Abstract

We empirically investigates the factors that affect Foreign Direct Investment (FDI) inflows in five BRICS countries for the period 1990–2015. We address the selection bias and unobserved heterogeneity by estimating a panel Heckman selection method and attempts to account for both selection and endogeneity within the new two-stage method. After addressing the above mentioned econometric issues, the infrastructure and GDP per capita variables under the new two-stage method remain positive and significantly similar to the coefficient of infrastructure and GDP per capita under the panel Heckman selection model. In addition, the inverse Mills ratio maintain its level of statistical significance, confirming the presence of both sample selection bias and endogeneity.

Open access

Joanna Markiewicz

Abstract

The article sets out to explore how conflicting institutional logics of support organizations influence their value creation. Value creation undertaken by support organizations does not directly reflect their missions. Even though one can generalize that all support organizations should adjust their offer according to the idea of helping companies (especially small- and medium-sized enterprises [SMEs]) in their development, support organizations very often struggle with the conflict between mission delivery and survival needs, which affects value proposition of services. Moreover, support organizations are also shaped by institutional logics, which, embedded in social systems, govern all social agents. Therefore, the study explains the challenge of value creation from the perspective of the conflict of competing institutional logics that govern support organizations. The study also has its academic impact by contributing to existing literature on value creation by support organizations through the use of institutional logic theory. To gain this knowledge, discourse analysis is utilized in the study.

Open access

Agnieszka Przybylska-Mazur

Abstract

Fiscal policy includes the government decisions on the size of taxes that affect the size of the government deficit. There are different types of government deficit. The aim of the analyses is to examine the relation between the type of deficit and the optimal level of tax rate. In this article we verify the hypothesis that the type of deficit considered affects the tax rate. For the hypothesis verification, we use the feedback rules that are the solution of the quadratic-linear problem.

Open access

Piotr Korneta

Abstract

Introduced in 2003, net promoter score (NPS) very quickly gained popularity, as a customer loyalty measure, among companies and a part of researchers, due to its simplicity, the ease of interpretation, low costs of calculation, and, overall, its assumed impact on future growth and profitability. In due course of literature review, it was identified that not all researchers endorsed NPS, rejecting its presumed impact on growth and its superiority over other loyalty measures. This study aims therefore to verify the influence of NPS on the growth and profitability of Polish transportation companies. This objective is achieved with the use of Spearman correlation ranks and linear regression. The findings of this study reject the proclaimed relationship between NPS and growth; hence, in that matter, the results are aligned to criticism presented in literature. The study, however, confirmed a positive and statistically significant relationship between NPS and profitability. Accordingly, the study recommends Polish transportation companies to include NPS in a portfolio of metrics, however, not as a stand-alone diagnostic tool.

Open access

Adriana Manolică, Corina-Elena Mititiuc and Teodora Roman

Abstract

We hear more and more often that positive things make our life more beautiful and make us more optimistic. But is it really true? If until a few years ago, the products had usual names, now it is desired for them to have a catchy name that would remain in the memory of the target audience. In this research I have analysed the attitude that young people have towards energy drinks with negative brand names, the impact of these energy drinks on them and also the influence they have on the decisional act of purchase. Among secondary objectives was the establishment of the notoriety of energy drinks that have negative names in the case of young people. Another secondary objective consisted in the comparative analysis of the impact that energy drinks with negative names have on men and women. Also, for the determination of the attitude that young people have towards energy drinks with negative names, it was necessary to get one at the time the feelings, the conviction offered by these energizers and also the intent of buying them among young people.