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Abstract

Intellectual capital is not sufficiently depicted in the annual reports of Polish companies, although it plays an important role in the operation and market valuation of enterprises. The aim of the paper is to evaluate the possibilities of using the KCETM method for depicting intellectual capital in the enterprise annual report – in particular, in the integrated reports. The KCE method developed by Lev has been modified in the area of normalized revenues, of which the evaluation method is not controlled by the audit, which results in its subjectivity. We adopted the category of gross profit generated by an enterprise from sales (including a large share of costs of earnings) which is reported by the enterprise. On the basis of the financial data from annual reports, we conducted the Knowledge Capital Earnings measurement of selected IT companies and this method was evaluated by comparing the results with the market and financials indicators of the companies and their Market-to-Book Values.

The conclusions from the analysis confirmed a strong correlation of intellectual capital (evaluated by modified KCETM method) with market indicators and return on equity. The method of intellectual capital evaluation of Market-to-Book Value did not give results related to market and financial indicators.

Therefore, based on the reported gross profit on sales, the KCETM method should be recommended as a measure in the integrated reporting of an enterprise.

Abstract

This paper assesses the impact of trade liberalisation on the economic growth of the Republic of Srpska (RS). The aim of the research is to prove the hypothesis that trade liberalisation and export orientation positively impact on GDP growth. RS has characteristically small and open economies. The degree and character of the connections between the observed variables was determined by means of regression analysis. Regression analysis indicates that there is a positive connection between the total trade and GDP growth. Further, there is a marked positive correlation between export and GDP, that is, export growth contributes to GDP growth. Foreign trade deficit stands in a negative correlation with GDP. Lastly, regression analysis points to the connection between the Republic of Srpska economic growth and openness of its economy. However, uncontrolled opening and exposure to foreign competitiveness can also bring about problems which in certain circumstances lead to long-term macroeconomic instability.

Abstract

Since the previous periods, poverty reduction has been a big concern for many countries especially in developing countries like Algeria; in this paper, we shall explore the causal relationship between poverty reduction, economic growth and financial development in Algeria during the period of 1970-2017, the aim of this research is to answer the question which sector causes the poverty reduction: real sector or financial sector? Therefore, we employed the modern frequency domain causality presented by Breitung and Candelon (2006) with a comparison with the time domain causality under Lutkepohl (2006) procedure, the results suggest that there is unidirectional causality running from the real sector (economic growth) to poverty rates in the short and long run terms, also, we found that there is an unidirectional causality running from the financial sector to poverty rates only in the long run term, while another causality running from poverty rates to the financial sector but in the short run term. This article aims at contributing to enlarge the literature review by utilizing the frequency domain causality in the field of poverty studies because of its effectiveness to test the causalities in different frequencies.

Abstract

There is increasing interest in determining the impact that employment of women in management positions may have on corporate social responsibility (CSR) initiatives. Various authors suggest that gender equality practices should be factored into the broader framework of CSR. Public policy could adopt an ethic that strengthens the moral commitment to social involvement of men and women alike, and expresses public responsibility for women’s experiences in both the public and private spheres. Following this logic, the research question for the present article is: What marketing strategy factors can be utilized by women to influence their attainment of senior managerial positions?

This article deals with the qualitative stage of a mixed method study that will answer the research question. The aim of the qualitative research design is to examine attitudes toward motivational factors and the environment that affect the strategic marketing of women to management positions. The research tool is a semi-structured in-depth interview, followed by a content analysis of data from transcripts. The research population includes ten women of different ages presently employed in managerial positions in Israel’s Ministry of Education. Future research directions and managerial implications are derived from this qualitative study.

Abstract

The review intends to research the green advertising practices and its consequences for the client’s image inclination in sustenance segment of Pakistan.

Design/methodology/approach-Data is gathered by using 5 point scale through strongly disagree to strongly agree. it include 15 items about respondents graphics It contains questions about demographics, green brand image, environment concern, green brand awareness, and green brand preferences. The data was collected from different Universities (G.C University, University of Punjab, University of Engineering and Technology) in Lahore Pakistan. In this study cluster sampling is used.

Findings- This study shows significant results with respect to green brand preference and its critical characteristics of student brand awareness. This study concluded that the importance of green brand elements (green brand image, environment concern, on green brand awareness, H1 H2 H4.H4 are accepted.

Originality - Past writing recommends an Essential association among green showcasing and purchaser mark inclinations yet in Pakistan there is an absence of such examination. So to fill this hole this exploration is led by utilizing quantitative procedures. We circulate poll 60 shoppers and capability of sustenance segment on the premise of accommodation examining to get the outcomes with regards to Pakistan.

Abstract

Economic entities get involved in mergers and acquisitions (M&As) because they are interested in external growth strategies which can lead to an increase in the wealth of the shareholders of the participating entities. In M&As, from an acquirer or a target’s perspective, a company brings its resources, which can be material or immaterial (knowledge). In the post-M&A phase, through the integration process the shareholders expect synergy gains, or that the combined firms to report efficiency gains higher than if they would activate separately. In nowadays, in a boundaryless economy, one of the most appreciated resources is knowledge. In this respect, the intangible assets, in general, and patents, in particular, are the accounting representation of knowledge in a company. They are also considered to be predictors for the deal value paid to the target company. To those we add the size of the target company, its core activity and the value of the research and development expenses, the latter being a significant mediator variable for the proposed models.

Abstract

Recently, quality issues have been widely addressed in the higher education sector as a result of which the identification and the role of stakeholders have come to the forefront. When evaluating service quality in higher education, three distinct levels of operation could be taken into account, namely, institutional level, program or faculty level and course level, on which the relevant stakeholders perceive service quality by focusing on different attributes. Besides students considered as primary stakeholders, the academic staff is paid considerable attention as they have a direct influence on how students perceive educational service quality. The establishment of a course level service quality framework of a special course is presented in this paper by demonstrating not only the students’ but also the supervisors’ aspects through a student questionnaire, focus group discussions and personal interviews. These approaches resulted in a new, more sophisticated understanding of service quality on course level.

Abstract

The role of corporate governance in achieving the financial performance in a sustainable development context is recognized. A fundamental premise in defining and applying good corporate governance is the area of the elements that describe the structure of the capital, elements that influence the guidelines and policies of the Board of Directors regarding the obtaining of the financial performance. On the equation “share capital - financial performance” we find the imprint of the compliance rate of the management statements with the requirements of the Corporate Governance Code applicable on the capital market on which the entity trades its shares. In this context, considering the compliance of the management statements published in the set of annual reports with the Corporate Governance Code, our researches investigate the relationship between the capital structure and the financial performance of the banks listed on the Bucharest Stock Exchange.

Abstract

The specialized literature offers relevant support for the idea that the entrepreneurship and the private initiative represent the foundation of the economic growth. Despite this evidence, there are a lot of debates regarding the influence of the different religious orientations on the intention to become an entrepreneur. The purpose of the present paper is to analyze the impact that religion has on the entrepreneurial intentions of the Romanian students. To achieve this objective, the research methods consisted in an extensive investigation of the specialized literature and in empirical research, conducted on a sample of 682 Romanian students. Our results underline that the young Orthodox individuals are more optimistic regarding their future ability to develop businesses than the Roman-Catholics. Yet, this optimism has not been proven by the assessment of their personality traits, which may be very important for the business success.

Abstract

AIMS: The paper investigates the effects of misinformation regarding dividend payouts on bubble formation, asset pricing and individual investment returns in experimental asset markets, when correct information about the expected dividends and their probabilities is also available.

METHOD: In two experiments, totaling34 Smith-Suchanek-Williams type double-auction continuous experimental markets (238 subjects), participants were exposed to misinformation regarding dividend payouts in a previous game, with the correct dividend matrix also provided. The misinformation stated the dividends in the previous game to have been much lower or much higher than according to the expected value function. The misinformation was either homogenous for all participants or provided to only half of the investors in a market (heterogeneously).

RESULTS:Homogenous misinformation stating that the last game’s dividend payouts were high, led to larger overpricing throughout the game, as compared to baseline (no misinformation) and homogenous misinformation stating that the last game’s dividends were low. In informationally heterogeneous markets, where half of the participants received “high dividends” misinformation and half remained non-misinformed, transaction prices were the lowest compared to the aforementioned treatments. It was also discovered that agents receiving the ‘high dividend’ misinformation had lower returns than non-misinformed participants in the same heterogeneous market.