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References Amalendu, B. (2012). Association between corporate social responsibility and firm financial performance: empirical evidence from bombay stock exchange. Economics Bulletin, vol. 32, issue 2, A20. Basovníková, M., Abramuszkinová Pavlíková, E. a Vavřina, J. (2013). Economic performance of Czech business entities in the context of CS s’ implementation. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, vol. 61, issue 7, s. 1985-1994. DOI: 10.11118/actaun201361071985. Available from: . Blašková, M

Egyesület, 2001, 327 p. PALÓCZ, É. - SZÖRFI, B. - BACHNÉ, H. M. - KOPINT, D. 2006. Az egészségügy és a versenyképesség kapcsolata. In IME V. évf. 3. szám, április, 2006, 14-17 pp. PORTER, M. E. 2003. The economic performance of regions. In Reg. Studies, 2003, no. 37, pp. 549-578. RAGÁNY, K. 2014. Az egészségügyi rendszerek jellemzői. Az egészségügy finanszírozása. Előadás. Semmelweis Egyetem, Egészségügyi Menedzserképző Központ. Downloaded: 17.10.09. REGIONÁLIS EGÉSZSÉGÜGYI ADATTÁR ON


This study examined the effect of government expenditure on its disaggregated level on economic growth in a sample of 20 sub-Saharan African Countries over the period of 1980-2010 in a dynamic panel data model. The result from Generalised Method of Moments (GMM) revealed an inverse relationship between productive government expenditure and economic growth in sub-Sahara Africa. Also, productive government expenditures were not actually productive most especially when financed by non-distortonary government tax revenue in sub-Saharan African countries. The study concluded that the productive government expenditure and its corresponding source of the mode of financing were counterproductive for economic performance in the African countries.


Economic performance of net-zero energy building/community (ZEB/ZEC) is an important factor that affects potential investors’ decision on installing renewable energy systems (RES). A reward-penalty mechanism (RPM) is proposed for accelerating the development of zero energy communities, which is developed without considering the reliability effect from RES generation. However, an investigation is deserved for the reliability effect of RES on building economic performance. A case study is therefore conducted based on an assumed community consisting of 20 family houses, in which the electricity load was collected by the smart meter for more than one year. The results show that the proposed RPM works efficiently under an ideal condition, while the costs of the community and its buildings are greatly increased when the effect of PV system reliability is considered. Specifically, the total cost of the community under 1.0ZEC design is 5 005 USD/yr in the first year, which increases to 11 341 USD/yr in the 25th year. By contrast, the total cost of the community under 1.2ZEC design is 5 243 USD/yr in the first year and increases to 9 607 USD/yr in the 25th year. It is believed that the results of this study can provide a progressive perspective for scheme makers and building owners in terms of its economic benefit. Development of enhanced RPM by considering system reliability will be investigated in our future work.

Economics , Vol. 114, No. 4, November 1999, pp. 1193-1242. MEGGINSON, W. L., R. C. NASH, M. van RANDENBORGH. (1994). The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis. The Journal of Finance , Vol. XLIX, No. 2, June 1994, pp. 403-452. MERCURO, N., S. G. MEDEMA. (2006). Economics and the Law: from Posner to Postmodernism and Beyond. Princeton: Princeton University Press. NORTH, D. C. (1990). Institutions, Institutional Change and Economic Performance. Cambridge: Cambridge University Press. OLSON, M. (1996). Big

industry-based economies can be transformed with the paradigm of place-based development by community participation and attracting new workers and businesses ( Bowns, 2013 ). Besides deindustrialisation and shrinkage, geographic research on varieties of economic performance of industrial towns is scarce. There are two that we consider to be the most important. The first study is a typology of small and medium-sized Swiss towns based on economic performance and socio-economic dynamics ( Meili and Mayer, 2017 ). This research identified two industrial types of towns: low

References Alston, L. J. (1996) "Empirical work in institutional economics: an overview" in Alston, L. J., Eggertsson, T. and North, D. C. (eds) (1996) Empirical Studies in Institutional Change, Cambridge: Cambridge University Press. Assane, D. and Grammy, A. (2003) "Institutional framework and economic development: international evidence", Applied Economics , Vol. 35, pp. 1811-1817. Brunetti, A., Kisunko, G. and Weder, B. (1997). ‘Institutions in Transition, Reliability of Rules and Economic performance in Former Socialist Countries’. Chousa, J. P., Khan, H. A


The purpose of this paper is the analysis of the business environment in the coastal area of Tulcea county, by administrative-territorial units, with the help of a synthetic indicator to appreciate the economic-financial performance, the profit rate. The analysis was performed for year 2018, the economic phenomena and processes being captured at the spatial level. The results obtained from this work support the strategy for the rehabilitation of the coastal zone in order to increase the economic performances by adopting policies corresponding to the new realities.

and Economics, Prague, September 11-13, 2014, 94-103. Blažková, I., & Dvouletý, O. (2018). Sectoral and Firm-Level Determinants of Profitability: A Multilevel Approach. International Journal of Entrepreneurial Knowledge, 6(2), 32-44. Busu, C., & Busu, M. (2017). The role of knowledge intensive business services on Romania’s economic revival and modernization at the regional level. Sustainability, 9(4), 526. Busu, M., & Nedelcu, A. C. (2018). Sustainability and Economic Performance of the companies in the renewable energy sector in Romania. Sustainability, 10(1), 8


Economics-based models of firms typically overlook management acts and capability development. We propose a model that analyzes the aggregate behavior of a population of firms resulting from both specific management decisions and learning processes, that induce changes in companies’ capabilities. Decisions are made under imperfect information and bounded rationality, and managers may sacrifice short-term performance in exchange for qualitative outcomes that affect their firm’s future potential. The proposed model provides a structured setting in which these issues -often discussed only informally- can be systematically analyzed through simulation, producing a variety of hard-to-anticipate emergent behaviors. Economic performance is quite sensitive to managers’ estimates of their firms’ capabilities, and companies willing to sacrifice short-run results for future potential appear to be more stable than the rest. Also, bounded rationality can produce chaotic dynamics reminiscent of real life situations.