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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.

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.

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.

Abstract

Worldwide corporate cash holdings have significantly increased and have become an important tool for managers. This study explores the factors that influence firms’ behavior regarding cash holdings and the signal that financial conservatism is sending to potential investors. Our data consists in annual observations collected through the Reuters Eikon platform. It includes companies listed on the Bucharest Stock Exchange, the investigated period being 2005-2014. The econometric analysis employs multivariate regression for an unbalanced panel data, using the OLS technique. The results show a positive correlation of cash holdings with the value registered by this indicator in the previous period, fact that might be interpreted as an attempting of the companies to maintain a target level of cash. Also, the results showed a non-linear relationship between leverage and cash holdings, while the tangible assets determine a negative correlation. As regards firm size and ownership concentration, the correlations were not statistically validated.

Abstract

As a consequence of globalisation, people’s mobility has been increasing, which brought cultural diversity to a number of countries of the world, therefore intercultural competences became a particularly important research object in organisation management. Scientific literature is rich in publications on the topic, however, the latter problem and its specificity has been insufficiently studied in health care organisations whose performance is especially important for each patient and the cost of errors, possibly caused also by insufficient intercultural competences, may be very great. The conducted research justifies the meaning and significance of intercultural competences in health care organisations and identifies the principal problems in organisations faced when communicating in an intercultural environment. The development of intercultural competences was not sufficiently promoted in health care organisations, leaving that to the staff’s responsibility. Quite a few of health care services providers had a poor knowledge of etiquette and did not know much about the customs and traditions of other countries.

Abstract

This paper has aimed to examine the causal relationships between energy consumption – economic growth, export – energy consumption and export – economic growth in Lithuania during the period of 1998 – 2015. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Granger causality test has been used to a time series data set to determine the causality between variables. The results of Granger causality test have shown unidirectional causality running from GDP to energy consumption, from export to GDP and from export to energy consumption. It is obvious that GDP and export play significant roles in accelerating energy consumption in Lithuania. The determination of the causal links between energy consumption – economic growth, export – economic growth and energy consumption – export has provided policy makers with the main insights to formulate future policy directions for sustainable economic development in Lithuania.

Abstract

The objective of the current paper is to investigate the impact of customers’ perceptions of their service providers’ corporate social responsibility (CSR) on customer loyalty, bringing relevant and useful insights regarding the nature of this relationship in the retail banking industry, and in the particular context of a developing country. The objective was accomplished by planning and implementing a consumer survey among a sample of 1449 Romanian retail banking customers, using an item-pool drawn up from the literature. The observed variables were grouped into several reflective latent variables, and afterwards included into a multiple regression model. The results indicate that customers’ loyalty towards retail banking companies is significantly and positively impacted by how customers perceive their providers’ CSR. Moreover, analyzing each category of responsibilities individually, banks’ responsibility towards their customers can be emphasized as being the most important dimension in our research context. The results convey practical implications for customer loyalty enhancement in a European developing country’s retail banking industry, by identifying those CSR dimensions on which organizations should focus on within their CSR policies implementation and communication.

Abstract

In recent times political events started to exert more and more significant impact on national financial systems due to sharpening of political problems in various countries. Undoubtedly, their influence can be followed in price dynamics of stocks which are trading in the securities market. The need to understand political news impact on the market as a whole and its separate industries is faced by investors and market agents for proper orientation in market environment. Since this issue provides rather controversial results in different studies, the authors set the aim to investigate the Russian market with the use of GARCH models. Such approach allowed determining precisely the political events’ influence on return and volatility of market assets as well as leverage and clusterization effects. The obtained results may be beneficial for investors, operating in the Russian stock market, other market agents and specialists in the field of financial science.

Abstract

The study attempts to capture conditional variance of Indian banking sector’s stock market returns across the years 2005 to 2015 by employing different GARCH based symmetric and asymmetric models. The results report existence of persistency as well as leverage effects in the banking sector return volatility. On an expected note, the global financial crisis increased conditional volatility in the Indian banking sector during the years 2007 to 2009; further evidenced from Markov regime switches. The exponential GARCH (EGARCH) model is found to be the best fit model capturing time-varying variance in the banking sector. The results support strong implications for the market participants at the time of devising portfolio management strategies.

Abstract

A decision to start a business is not easy because it is result of the economic conditions, cultural context, but also “push” and “pull” factors. In order to determine woman motivational factors, a survey of 1,157 Eastern Croatia respondents was conducted. The purpose of the research was to determine which motivations the potential future entrepreneurs believe trigger women entrepreneurs’ decision to start an entrepreneurial venture. The results show that women are considered to be financially motivated. The fact that real-life women entrepreneurs from previous research have stated slightly different motivations shows that there is room for improvement of entrepreneurship education.