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Merima Činjarević, Emir Agić and Almir Peštek

Abstract

Despite numerous scholarly attempts, there is a lack of consensus regarding the relevance of various factors influencing consumer’s intention to purchase organic food. The purpose of this study is to asses the impact of subjective and personal norms on consumer attitude toward buying organic food. Moreover, this study aims to explore the moderating role of contextual factors - product knowledge and consumer scepticism on the norms- attitude link. Data were collected through an online survey on a sample of 212 organic food buyers in Bosnia and Herzegovina. Moderated regression analysis was used to test the hypothesized relations between the constructs of interest. Findings indicate the subjective and personal norms are positively and significantly related to consumer attitude toward organic food purchases. Also, our findings revealed that product knowledge strengthens the subjective norms-attitude relationship, while consumer scepticism toward organic food claims weakens the subjective norms-attitude link. This study informs producers, marketers, and policy-makers about the relative importance of norms, scepticism, and knowledge in the context of organic food consumption.

Open access

Ioan-Mădălin Neagu

Abstract

In the present paper, a fog computing framework for smart urban transport is developed. The proposed framework is adapted to the smart city concept. It uses a collaborative multitude of end-user clients to carry out a substantial amount of communication and computation. It can be adapted for specific situations of smart cities in Romania, such as: Cluj-Napoca, Timișoara, Iași or Bucharest. Economic and social implications as well as available European funding sources are presented.

Open access

Irina Ene

Abstract

With disruptive technologies constantly emerging, the impact of artificial intelligence is becoming a relevant topic nowadays. An extensive investment in business intelligence support systems has been recognized as one of the top priorities of most successful managers. However, these constant internal changes of systems and management styles rarely happen smooth and natural, and frequently they trigger serious issues for the companies and its interactions with their customers. Implementations like automated call centers and online payment systems are just mainstream examples which can be used to show the numerous implications of the intrusion of artificial intelligence systems in our everyday life. With the increasing use of various forms of technology, an ongoing discussion has emerged about people's willingness to accept these technological trends. There are, of course, both pro and counter arguments to be discussed. In this article there are presented the results of an eye-tracking experiment about the reaction of consumers towards several forms of artificial intelligence. It has been shown that consumers have the tendency to react more at unexpected situations involving robots and forms of artificial intelligence.

Open access

Davor Zoričić, Denis Dolinar and Zrinka Lovretin Golubić

Abstract

The work of Arnott et al. (2005) presented an interesting fact that the fundamentally-weighted indices generally outperform the market capitalisation-weighted counterparts in the US stock market. The research results prompted the introduction of fundamentally-weighted indices in the US market. Since research dealing with Croatian capital market also points out the inefficiency of the risk return trade-off of the cap-weighted (CROBEX) index this paper examines more closely the risk return characteristics of the potential fundamentally-weighted alternative and analyses the source of higher returns in the case of fundamentally-weighted indices. We use the original and propose a modified Fama French three factor model in order to try to capture specific sources of risk in the small and illiquid market. We find evidence in support of the view that better risk return trade-off of the fundamentally-weighted indices is driven by additional exposure to risk factors in comparison to CROBEX index.

Open access

Marko Ropret, Aleksander Aristovnik and Dejan Ravšelj

Abstract

The importance of small and medium-sized enterprises (SMEs) is widely recognised for the Slovenian economy. However, the issues regarding legislative and other administrative barriers and their perception by SMEs as a heterogeneous group of enterprises are not yet fully investigated. The main research hypothesis concerns that there exist significant differences in the perception of administrative barriers among characteristic SME groups. Consequently, this paper aims to provide a comprehensive analysis of the key administrative barriers SMEs face in Slovenia. This entails three activities: (1) identifying the main areas in which barriers are found; (2) establishing what they imply performance-wise; and (3) providing policymaker guidelines tailored to different SME groups (size, legal form, sector, age). The empirical results, based on one-way analysis of variance (ANOVA) and Bonferroni post hoc tests on a sample of 925 SMEs, show differences in the various groups of SMEs mentioned above. Thus, it is shown that it is most promising to address the administrative barriers through an in-depth approach that targets specific enterprise groups and is reflected within guidelines for responsible policymakers.

Open access

Olimpia Neagu

Abstract

The paper documents the impact of global competitiveness on economic growth in the EU Member States. In a panel data approach, for a time span of 10 years (2008- 2017), a validated influence of Global Competitiveness Index on annual rate of GDP in the EU countries was found. The impact is higher in the group of Eastern and Central European countries (ECE) than in the Western European (well developed) countries, as well as at European economy level.

Open access

Hacer Simay Karaalp-Orhan

Abstract

In this study, how the human capital disaggregated by gender and physical capital affects economic growth in Turkey is examined for the period of 1971–2015. By using an arithmetic average of health and education indicators as a proxy of human capital formation, an attempt was made to examine the relationship between the human capital and economic growth under the scope of gender inequality. In this context, an ARDL-bounds testing approach and the unrestricted error-correction model were used to investigate the co-integration in the long- run and short run. Further, the causality test was also conducted to identify the direction of the causality between the variables. The main finding indicates that male human capital has been the central variable affected by both economic growth and physical capital. On one hand, a significant positive relationship was found between the economic growth and physical capital and male human capital in the long-run, while on the other hand, the female human capital was associated negatively to the economic growth. There is no evidence of causality that links the female human capital to other variables. This result suggests that women are not well utilized in the Turkish economy and the country suffers from untapped potential of women.

Open access

Akingbade Urungbodi Aimola and Nicholas M. Odhiambo

Abstract

This paper explores the dynamics of public and private debt in Ghana for the past 32 years. Ghana’s total public debt stock to Gross Domestic Product (GDP) ratio has remained above the 60.0% sustainability threshold recommended by the West Africa Monetary Zone (WAMZ) since 2013. Implemented bank reforms in the country show an upward trend for domestic credit to private sector by banks as a percentage of GDP. Using exploratory review approach, the paper identified fiscal dominance, cost of borrowing, deterioration in export earnings, ineffective fiscal, monetary and debt management policies coordination as factors responsible for changes in total public debt stock. On the other hand, increased domestic borrowings by government from the banks, and Deposit Money Banks’ (DMBs)’ adverse selection in private sector credit allocation affect changes in domestic credit to the private sector by banks. Of these causes, fiscal dominance is the major determinant of public and private debt in Ghana. The study, therefore, recommends that government should pursue fiscal operations that are necessary to put public debt on a declining path. In addition, effective coordination of fiscal, monetary and debt management policies need to be strengthened together with the autonomy of the Bank of Ghana in the use of its monetary policy instruments.

Open access

Nikolina Dečman and Ana Rep

Abstract

Timely access to information and business transparency make the foundation for business success. Companies present their financial position and financial performance through the financial statements. As a financial information is not the only relevant factor of business value creation, presentation of non-financial information brings added value to different stakeholders. For the purpose of more transparent business operations and international comparability of the presented data, it is especially important that reports are compiled according to internationally accepted rules. The paper has sought to investigate whether Croatian companies recognize benefits of integrated reporting. The aim of the paper was to identify whether and to what extent largest companies in Croatia present the information regarding their intellectual capital, principle customers, business partners, environmental considerations, future plans, investments, market conditions, and further expectations of business development. Based on the research results, suggestions for improvement of the non-financial reporting in Croatia have been given.

Open access

Richna Handriyani, M.M. Sahyar and M. Arwansyah

Abstract

This research is important because the commencement of the Asean Economic Community (MEA) has a positive impact that is spurring the growth of investment from within and outside the country, so that domestic investment has the potential to increase which will increase the number of employment for Indonesian workers especially in province of North Sumatera.This study aims to: identify the effect of household consumption on economic growth, identify the effect of investment on economic growth, identify the influence of Labor on economic growth, and identify the effect of interest rate on economic growth . The data used in this research were secondary data in 2006-2016 in Province of North Sumatera. Data obtained from various agencies, namely: Department of Labor and Transmigration, Central Statistics Agency of Province of North Sumatra, some other sources such as journals and relevant research results. Methods of analysis using Two Stage Least Square method (TSLS). The results of this study found that: Household consumption has a positive and significant effect to economic growth, Investment has positive and significant effect to economic growth, Labor has positive and significant impact to economic growth, and Interest rate has a negative and significant effect on economic growth.