Browse

You are looking at 21 - 30 of 102 items for :

  • Business Management, other x
  • Microeconomics x
Clear All
Open access

Giovanni Verga, Federica Trani and Nicoleta Vasilcovschi

Abstract

European interest rates movements are affected by various internal and external factors. This paper studies the link between European and American short- and long-term interest rates. In particular, we consider the forward interest rates coming from euro and dollar IRS term structures. The econometric techniques employed are co-integration, Granger-causality, OLS and GMM. Our results indicate that European remote settlement forward and long-term interest rates are primarily driven by US rates and confirm that the causality acts mainly from the US to the Eurozone. This was true even during the recent periods of European Central Bank quantitative easing. These factors weaken the ECB’s ability to intervene. In fact, we found the impact of American monetary policy on long-term interest rates to be also relevant for European bonds.

Open access

Goran Karanovic and Bisera Karanovic

Abstract

The main aim of this paper is to investigate the existence of the “day of the week” financial effect in select Balkans stock markets indices. Many findings of market anomalies have corroborated the presence of the “day of the week” effect in developed markets; however, so far scarce research has been presented on this subject for the Balkan capital markets. Hence, an additional objective of this paper is to examine the impact of this market anomaly on the market efficiency hypothesis. The methodology used in this paper employs a regression including dummy variables which will help determine the existence of the effect. The authors use daily mean returns of selected stock indices found to be lower at the beginning of the week but not necessarily on Monday. The results are interpreted and expounded taking into consideration the history and market development. The paper provides academia and investors as well as policy makers new perspective of the market anomalies linked to the financial behavior of the capital markets in select Balkan countries.

Open access

Martin Klepek

Abstract

With the advent of social media where customers have the technical ability to upload own content the change occurred in some of the communication habits online. This world of constant communication is a challenge for businesses as well researchers. Academic research in this area is bringing valuable insights into people attitudes and behaviour on the social media. What is the current situation and where the research field is heading is a question of high importance. This study uses the systematic approach to reviewing the literature and to show the development of publications produced at Czech universities. Although the results show an increasing number of studies, Czech research is lagging behind other similar countries. Compared with the best countries, it is lagging behind in the number of quotations per article. On the basis of these analyses, suggestions for future research that can help to promote future theory development are proposed.

Open access

Lina Pilelienė and Viktorija Grigaliūnaitė

Abstract

Advertising spokesperson is one of the undeniably important factors affecting advertising effectiveness. However, advertising spokesperson has to have some particular features to be effective. Various previous researches resulted in determination of different features of advertising spokesperson and their effectiveness; i.e. type of a spokesperson (celebrity vs. a regular person); gender and race of a spokesperson; etc. were found to have an impact on the spokesperson’s effectiveness. However, the research on the impact of shooting color temperature on its effectiveness is still scarce. Moreover, an assumption can be made that color temperature might cause a different effect depending on advertising spokesperson’s gender. The aim of this paper is to fill this gap by analyzing the relationship between spokesperson’s gender and advertising color temperature in a framework of advertising effectiveness. Neuromarketing research methods were applied to meet the aim and to determine the guidelines for its usage in advertising.

Open access

Vasyl Hryhorkiv, Andrii Verstiak, Oksana Verstiak and Mariia Hryhorkiv

Abstract

Regional inequalities in economic growth had been observed within many countries and regions. This research emphasizes convergence/divergence technique for Ukrainian regions. As concepts of β- and σ-convergence obtained from cross-country growth models has been subjected to a number of criticisms and they do not embrace applied significance in studying regional inequalities in Ukraine, we have built improved technique of investigating disparities across Ukrainian regions. The method is based on the analysis of regional input-output tables and its aggregation. Adopted technique provides weighted aggregation (by prices) of regional input-output tables that allows analyzing the structure of total for each region across sectors (or kinds of economic activity). We showed that implementation of aggregated regional input-output tables in analysis of regional convergence and the usage of equilibrium (weighted) prices have many advantages. The main finding is that among regions of Ukraine there are reduction of disparities in structures of different kinds of economic activities.

Open access

Jaroslav Ramík

Abstract

The decision making problem considered here is to rank n alternatives from the best to the worst, using information given by the decision maker(s) in the form of an n×n pairwise comparisons (PC) matrix. We investigate pairwise comparisons matrices with elements from a real interval which is a traditional multiplicative approach used in Analytic hierarchy process (AHP). Here, we deal with two essential elements of AHP: measuring consistency of PC matrix and the method of eliciting the priority vector by which the final ranking of alternatives is derived. Classical approaches introduced by T. Saaty in AHP are compared with later approaches based on the AHP criticism published in the literature. Advantages and disadvantages of both approaches are highlighted and discussed.

Open access

Veronica Prisacaru and Aurelia Litvin

Abstract

This investigation is focused on two objectives: 1) explaining the relationship between quality management and performance management in higher education; 2) evaluating the existing quality management systems in the higher education institutions of the Republic of Moldova. In order to accomplish the first objective, a comparative theoretical analysis of the quality management and performance management was carried out in terms of common aspects and distinctive peculiarities. Consequently, it was reasoned that the performance management system of a higher education institution is created and functions on the basis of the quality management system by extending the area of the quality objectives to the level at which they will ensure performance or, in other terms, by moving towards excellence. In order to achieve the second objective, an opinion survey for the teaching and managerial staff from 6 universities was carried out. As a consequence of processing the obtained results, there were identified problems related to the functioning of the quality management systems. The investigation resulted in the formulation of a set of recommendations for the higher education institutions of the Republic of Moldova in order to increase the efficiency of the quality management systems functioning and thus to ensure an efficient management.

Open access

Babajide Oyewo

Abstract

This study evaluated the influence of six contingent variables – firm size, age, sector, existence of management accounting department, affiliation to foreign entity and public-quotation status – on the effectiveness of management accounting function in Nigerian firms. Stratified random sampling technique was deployed to obtain the views of 131 Finance Officers with oversight role across major sectors of the Nigerian economy. Statistical tools used in analysis were descriptive statistics, factor-analysis, Kruskal Wallis Test and binary logistic regression. Whilst detecting that contextual variables such as size, age, sector, existence of management accounting department and public-quotation status significantly affect the effectiveness of the management accounting function, affiliation to foreign entity was found not to exert significant influence. The strongest predictor of the likelihood of operating a very effective management accounting function was the existence of management accounting department. Organisations are encouraged to have separate management accounting department because of additional benefits imbued by specialist management accounting skills.

Open access

Žaneta Rylková, Karel Stelmach and Petr Vlček

Abstract

Counterfactual impact evaluation (CIE) is a scientific quantitative approach mainly based on experiments and quasi experiments. CIE is trying to prove a causal relationship between outputs and outcomes. CIE does not take into account coherence of external incentives of companies with internal incentives that have or may have an impact on the behaviour of enterprises. The paper sets up internal evaluation indicators for businesses, counterfactuals useful for creating a more complex metrics evaluating businesses in the area of performance. The aim of the paper is to present model situation using the elementary principle of counterfactual impact evaluation based on “the Overall Equipment Effectiveness (OEE)”.

Open access

Stanimir Kabaivanov and Veneta Markovska

Abstract

This paper focuses on modelling environment changes in a way that allows to price weather derivatives in a flexible and efficient way. Applications and importance of climate and weather contracts extends beyond financial markets and hedging as they can be used as complementary tools for risk assessment. In addition, option-based approach toward resource management can offer very special insights on rare-events and allow to reuse derivative pricing methods to improve natural resources management. To demonstrate this general concept, we use Monte Carlo and stochastic modelling of temperatures to evaluate weather options. Research results are accompanied by R and Python code.