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Tomasz Sosnowski and Anna Wawryszuk-Misztal

Abstract

Using a sample of 104 companies that conducted initial public offering (IPO) on the Warsaw Stock Exchange between 2006 and 2016, we investigated the relationship between the accuracy and bias of the earnings forecast disclosed in the IPO prospectus and the firm corporate governance attributes. Applying multiple Ordinary Least Squares (OLS) regressions models, we focused on the role of the board size, the percentage of women on the board, the board age diversity measure, and the proportion of shares owned by the members of the board. Generally, our findings show that some characteristics of management and supervisory board improve the usefulness of earnings forecasts’ credibility. Especially, a more diversified board in terms of age and higher management ownership results in more accurate forecasts. This is the first study giving an insight into the role of supervisory and management board characteristics on precision of earnings forecasts revealed in the prospectus by Polish IPO companies.

Open access

Michael Pace

Abstract

This non-experimental correlational study extends previous research investigating the relationship between project management methodology and reported project success, as well as the moderating variables of industry and project manager experience. The sample included North American project managers with five years’ experience, 25 years of age or older, and experience with multiple project management methodologies. The survey instrument consisted of 58 questions, utilizing a 5-point Likert scale to record responses. The survey contained three sections, including demographic information, questions related to a successful project, and questions related to a less-than successful (failed / challenged) project. 367 usable responses were received. The examination of the constructs included Pearson’s correlation coefficient as well as linear regression to determine the impact of moderating variables. Results indicated that project management methodology has a weak correlation with reported project success, and this correlation is not moderated by industry nor project manager experience. The results did not align with previously conducted studies, illustrating a need to continue the study of methods impacting success including investigating additional moderating variables.

Open access

Dónal Palcic and Eoin Reeves

Open access

Abdullah Saeed S Alqahtani, Hongbing Ouyang and Adam Ali

Abstract

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.

Open access

Hugh O’Donnell

Open access

Jacek Borzyszkowski

Abstract

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.

Open access

Bríd Quinn

Open access

Lynsey Black