technique used to analyse the price dynamics, for example, by Cavallo (2015) . The novelty of our approach lies in using data from price comparison services instead of working with great number of individual sites which often use incompatible web technologies. In this way, we are able to collect tons of individual price signals from virtually all shops selling a particular item in each country. With such a large and diversified data, we can measure price dispersion in a robust way and make frequent updates at relatively low cost. With respect to the pattern of observed
Kristóf Gyódi, Maciej Sobolewski and Michał Ziembiński
The main objective of the study is at first identifying the expectation gap about audit responsibility and the second quantifying the expectation gap in Iran. In order to collecting data, a questionnaire designed and developed between auditors and investors. Collected data analyzed by employing non-parametric statistics test. The results show that there is expectation gap between auditors and investors in Iran. The current study employed a new approach in the world in order to quantifying the expectation gap. It gives the more strength to other researchers in order to measuring audit expectation gap in the world.
Przemysław Kabalski and Ewelina Zarzycka
The aim of this article is to present the results of a study on the convergence of financial accounting and management accounting in companies operating in Poland against the background of international solutions. The survey, carried out in 2017, was used to collect data. Based on the questionnaire returned by 40 companies, it was found that the level of convergence of financial accounting and management accounting in Polish enterprises is moderate. The number of worldwide studies on the convergence of accounting is very limited, and in Poland they are quite unique. For this reason, the study presented in this article is relevant both for science and the practice of accounting.
Ana Raluca Chiosa and Bogdan Anastasiei
Nowadays, with the major role that social media is playing in our life, people have found an easy way to utter negative word-of-mouth (NWOM). A self-administrated questionnaire with a visual stimulus was used to collect data from 108 Romanian Facebook users, between the ages of 18 and 26 years. This research aimed to determine the impact of adverse messages on brand attitude and a series of others consumer reactions.
The results indicate that negative messages may change brand perception and generate negative word-of-mouth, with significant impact on future purchase intentions. They also indicate that identity avoidance is a more relevant electronic word-of-mouth (eWOM) antecedent than negative emotions, strongly and positively influencing brand hate. The findings show that negative events or actions can seriously affect consumer behavior, triggering brand rejection that eventually may translate into brand image deterioration and sales decline.
The basic function of taxes is the fiscal function, which consists in collecting revenue by public authorities. The imposition of non-fiscal functions on taxes causes the weakening of their basic function. The purpose of the article is to present tax exemptions, as well as to assess the fiscal consequences of their application in excise duty in Poland in 2012-2016.
The Polish excise duty solutions provide for numerous tax exemptions, whereby it should be noted that a significant part are attributable to EU solutions resulting from harmonisation of this tax. In light of the conducted research, it may be concluded that the applied tax exemptions have a significant influence on fiscal efficiency (causing an average revenue decrease of approximately 7% during the examined period).
Nenad Vunjak, Jelena Vitomir, Tamara Antonijević and Petra Stojanović
The subject matter of this research is investment management and its forms practiced in developed financial markets. The goal of this research is to elaborate on the strategies and characteristics of investment companies, hedge funds, venture capital funds, and LBO funds. Investments companies deal with professional management of financial assets of individual and institutional investors. Investment companies also deal with funds management.
Hedge funds establish a pool of assets to invest in securities. The strategy of hedge funds is: aggressive growth, unpayable securities, financial markets, and market neutrality.
Venture capital funds use the capital of investors to finance entrepreneurs and promising companies. They function as general partners, while the investors are limited partners. LBO funds use credits to finance acquisitions of companies. They collect their assets by: issuing shares, speculative bonds, and private placement of debt securities.
What consumers notice from the IoT is just the tip of the iceberg. Underneath the surface, dozens of applications are communicating and interacting with each other. A brand that wants to succeed in this complex environment needs to work within this network and make sure that its messages are the ones that filter all the way through and ultimately reach the consumer. IoT designers need to make sure that products and devices can only send and receive valid messages and consider the ramifications of those messages on the rest of the system. If security is underestimated, the whole system and the consumers are put at risk. Further, it is important to collect and examine the data that the interactions generate to better understand the usage of IoT-enabled products and their interactions with other elements of the complex network.
Jan R. Landwehr and Andreas Herrmann
The success stories of design-oriented companies like Apple, Audi or Nike have put design on the agenda in many marketing departments. Consumers cannot elude the effect of aesthetics and therefore design is a major factor for business success. Typically consumers choose the product with the best design, all other aspects being equal. Only when the interplay of product characteristics, brand and design is carefully coordinated can successful products be created. This requires an integrated approach to design, one which is applied right at the beginning of the value chain. Product development, marketing and design need to work in close cooperation, communicate well and frequently, and collect feedback from the market. Superior aesthetics are always important but should be a top priority in cases where efficiency-oriented Asian competitors are able to offer functionally similar products at much lower prices.
Roxana Popa Strainu and Mircea Georgescu
A system built to support management decisions and not only needs to be accurate and well adapted to the requirements of the decision and the variables involved in it, and this happens because a decision is still a human act in any type of business and institution. We can say that a decision support system has a part in it that cannot be determined by any software: the human decision which is not a determinist act. It depends on a lot of variables but also still involves the decision maker intuition and experience. This is why an important problem emerged to be discussed in this paper: the need to implement and develop an in house solution to help management decisions and not only, using existing tools and this with no additional fees. This can be a good opportunity to discover models and solutions. An identified solution using Microsoft Excel and Access is discussed in this paper and a model applied on a case study will be presented. The results of the case study showed a real support in making decisions and a better transparency in manipulating the data, improving also the time needed to collect, transform and present data. The model can be applied in any type of problem that needs a visual presentation of data as well as in situations that need working with a large amount of data, but especially in small and medium size companies.
Michaela Jánská and Petra Olšová
In marketing communication it is important to know what and how to inform the customer, it means to know the target audience, where it is located and how it is possible to reach it. The most commonly used form of addressing the customer in the retail is a leaflet action. This article aims to highlight the use of segmentation aspects by retail in the selected region for the best implementation of selected communication mix - direct marketing. An analysis of secondary data - professional literature and studies dealing with the meaning of communication in the company, specifically marketing communication with a focus on direct marketing in the retail – was executed to fulfil the objectives of the article. Results from a questionnaire survey that examined the influence of spatial data on the purchasing behaviour of customers in Ústí nad Labem - City will be used as primary data. Survey results indicate the fact that it was necessary to collect spatial data on the segment. A selected market was examined in the questionnaire survey mainly in terms of geography and demography and impact of these criteria on the leaflet distribution process application. Geographical segmentation provided information on the spatial distribution of retail shops in the city. Socio-demographic segmentation offered information about age, gender, status, and education of customers who shop in the supermarkets.