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Jani Bekő and Darja Boršič

Abstract

We examine the purchasing power parity (PPP) hypothesis of 10 members of ASEAN. A battery of panel unit root tests is employed on data series from January 1995 to January 2018 in order to search for validity of PPP in the period before the Great Recession and in the post-crisis period. All the calculations are based on four numeraire currencies: Chinese yuan (CNY), Japanese yen (JPY), US dollar (USD), and the euro (EUR). First, following the outcome of the present study for ASEAN countries, the PPP holds mostly with respect to CNY rates. Second, for the post-financial crisis period, our research proves conclusively that the PPP supposition is predominantly valid between the currencies of ASEAN countries and EUR rates. The sample of countries in the study is limited to the ASEAN group of economies. Based on the evaluated parity conditions, the emergence of global economic crisis brought about significant currency shifts in the ASEAN. The selection and testing of a broader range of numeraire currencies is vital to provide empirical underpinning for PPP notion.

Open access

Ia Natsvlishvili

Abstract

This research discusses the role of social entrepreneurship as an important feature of the moral economy, i.e., a socially responsible business practice. Developing countries, e.g., Georgia, a post-Soviet country, differ from those in the West in this aspect. The author aims to identify peculiarities of social entrepreneurship and corporate social responsibility of Georgian businesses. Desk research provides conceptual analysis of the existing quantitative and qualitative studies, based on prominent scientists’ works in economics and entrepreneurship. A “moral economy” understands business activities as “social services.” Social responsibility is a business’s moral framework, suggesting a company’s obligation to generate social benefit. Social entrepreneurship combines the best practices from the nonprofit and for-profit activities to tackle social needs poorly addressed by businesses and governments. Social entrepreneurship is a relatively new phenomenon in post-Soviet countries, where nongovernmental organizations help in solving many social problems, but their efforts are typically insufficient. Entrepreneurs must find a balance between a company’s success, employees’ needs, and environmental and social stability. These three priorities form the foundations of corporate social responsibility. Economic history provides many examples of moral standards driving the stability of a socio-economic system and profitability of companies with macroeconomic and microeconomic positive impacts. Companies operating in Georgia spend their funds on social projects and charity; moreover, such socially oriented activities are sometimes chaotic. Companies need to implement social responsibility projects as part of their business plans. Strengthening corporate social responsibility could thus support development of social entrepreneurship.

Open access

Srečko Devjak

Abstract

The purpose of this paper is to derive a model for calculation of maturities and volumes of repayments that a bank may expect from nonretail nonperforming loans (hereafter NPLs). Expected inflows from nonretail NPLs follow a probability distribution, defined by size and timing of historic repayments of NPLs. Empirical analysis has shown that probability distribution of expected inflows from nonretail NPLs considerably deviates from symmetric distribution and is asymmetric to the right. Accuracy of derived model depends upon available data in banks about NPLs by corporate sectors and recovery rates by time intervals. The model in this paper is in interest of any bank and in particular of banks with a higher fraction of NPLs in their loan portfolio. Contribution of this paper to the added value in the area of liquidity risk management in banks is high because the remaining literature does not deliver other models for the same purpose.

Open access

Igor Perko and Zoraida Mendiwelso-Bendek

Abstract

Gaming has the potential to support the development of young people’s capabilities in social responsibility (SR) and, at the same time, represents a threat of developing undesired behaviour patterns. Successful integration of gaming in the lives of young people requires a systemic approach, which, to the best of our knowledge, hasn’t been provided in the literature. We provide insight into this issue. In this paper, multiple methods are used. To elaborate the backgrounds on the gaming’s effects and social behaviour, the literature is analysed. To assess the state-of-the art of young people characteristics, their pressing social challenges and gaming evaluation reports are analysed. The synthesis is provided and placed in the context with social responsibility properties using system dynamics. Gaming concepts, appropriate for education for SR, and relationships between young people’s challenges and the players in the gaming environment in SR terms are proposed. Currently, the loop of games development is negatively propelled by the short-term games demand. We propose effective feedback loops, linking young people and their social environment, using a SR tool set to provide demands to the game providers. The experience will support the games developers to design socially constructive games, aiming to develop the desired skills and competencies in social transformation processes of young people toward SR. The proposed model provides merely an overview model, designed by the literature review and state-of-the-art analysis. To fully understand the games’ effects on young people, a more detailed analysis is required.

Open access

Safet Kurtović, Sabina Šehić-Kršlak, Blerim Halili and Nehat Maxhuni

Abstract

The main goal of this paper is to examine the influence of macro factors and the degree of the exchange rate pass-through (ERPT) on aggregate and disaggregate import prices of the industrial sectors in the short- and long-run. The study is based on a model used by Campa and Goldberg (2002) and Campa et al. (2005). The ERPT is determined by applying the single equation and the cointegration approach (autoregressive distributed lag model [ARDL]), vector decomposition, and data over the period from 2002Q1 to 2016Q4. In the long-run, the ERPT is complete for the aggregate import and for the industrial sector beverages and tobacco. In the short-run, the ERPT is incomplete for the aggregate import and for majority of industrial sectors. Further, we have discovered that the degree of the ERPT is higher with heterogeneous products than with homogeneous products. Due to the inaccessibility of data for micro factors, we were not able to determine their effect on import prices. The results of our research can help economic policymakers to create adequate measures in the field of economic policies that will improve the competitiveness of the economy. Finally, this paper identified the effect of the volatility degree of the ERPT on the disaggregate import prices of industrial sectors that has not been sufficiently explored so far.

Open access

Adewale A. Adekiya

Abstract

The high rate of job loss in most crude oil dependent countries, which may be attributed to the recent drop in the price of this commodity in international markets, has intensified the perception of threats associated with potential job loss among the employees who are still employed. Hence, perceived job insecurity, its associated outcome, coupled with how it can be mitigated has become a global phenomenon, which requires the attention of managers and practitioners alike. In this work, we built upon Hobfall’s conservation of resource theory (CRT) to present a research model that links employee’s self-efficacy and gender to the strength or weakness of the relationship between self-esteem and self-perceived job insecurity. Research data were collected from 153 randomly selected Nigerian Bank employees out of 217 drawn from a total population of 509. Based on the results from relevant statistical analysis, it is discovered that, while increase in self-esteem would lead to a significant decrease in job insecurity perception, such significant decrease is, however, not associated with self-efficacy and gender meaning that these variables are not moderators in the self-esteem/perceived job insecurity relationship. In line with these outcomes, we conclude by recommending that managers should focus on developing intervention strategies aimed at improving employee self-esteem with a view of reducing perceived job insecurity. In addition, important areas in need of future research were also identified.

Open access

Tanja Zdolšek Draksler and Karin Širec

Abstract

The literature review shows a lack of research on the impact of entrepreneurship education on entrepreneurial competencies in relation to entrepreneurial intentions. Further development of the field is needed, but, because of the shortage of suitable research models or because they only partially cover the complex area of entrepreneurial competencies, the purpose of this article is the formulation of a new, updated research model (based on the existing models). Thus, theoretical research of entrepreneurial competencies based on the competence study has been performed. Through in-depth analysis of existing entrepreneurial competencies research models, a congregated hybrid research model is proposed. A new conceptual research model for studying the impact of entrepreneurship education on entrepreneurial competencies in relation to entrepreneurial intentions has been developed. The model will serve for empirical testing of investigated phenomena. The original contribution is in the formulation of a unique research model and the construction of a customized measuring instrument for studying the phenomena of entrepreneurship education impact on entrepreneurial competencies and entrepreneurial intentions.

Open access

Darja Kukovec, Matjaž Mulej and Simona Šarotar Žižek

Abstract

Successful internal communication in an intercultural environment depends on the organizational culture, business environment, social responsibility, and leaders’ skills. Thus, internal communication and employee adaptation to changing business environments ask what a successful socially responsible internal communication requires. This contribution discusses theoretical foundations of qualitative research, how the organizational culture can define which direction the organization should chose to attain social responsibility, and how internal communication can improve understanding of professional language and be decisive in a working environment. The generated model offers insights into understanding social responsibility and organizational culture to improve internal communication.

Open access

Robert Horvat

Abstract

In the study, three selected personality traits were tested for their impact on Slovenian accountants’ attitudes toward accounts manipulation behavior. The main objective was to investigate if personality plays a role in how Slovenian accountants think and feel about this ethically problematic business practice. Responses from 310 chief accounting officers of Slovenian medium- and largesize companies were gathered via electronic survey, and correlational and regression analyses were performed to investigate relationships between selected personality traits and participants responses to the scenario, thus depicting accounts manipulation behavior in violation of generally accepted accounting principles. Only two of the observed personality traits (Machiavellianism and agreeableness) were found to be statistically significantly related to accountants’ attitudes, while the third one (locus of control) shows no such relationship. For both, Machiavellianism and agreeableness, the direction of the relationship with accountants’ attitudes is the same. The higher the levels of accountants’ Machiavellianism and agreeableness, the more positive their attitude toward observed accounts manipulation behavior.

Open access

Maja Rožman, Sonja Treven and Marijan Cingula

Abstract

The main objective of the paper is to determine the impact of behavioral symptoms of burnout of older employees on their work engagement in large- and mediumsized companies in Slovenia. The research is based on the implementation of a factor analysis by which we wanted to reduce the large number of variables into a smaller number of factors. With those factors, we performed a simple linear regression. Based on the results, we confirmed the hypothesis that behavioral symptoms of burnout of older employees have a statistically significant negative impact on their work engagement. Well-being of employees of varying ages in the workplace is key for long-term effectiveness of companies. From this point of view, companies should apply appropriate measures to reduce burnout as well as to contribute to employees’ well-being and better workplace performance, which is reflected in work engagement of employees.