Ekonomika
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ANALYSIS OF STOCHASTIC INFLATION IN THE INTERACTION OF SUPPLY AND DEMAND REGARDING THE ASPECT OF DINAMIC CAUSALITY
Get PDFSystematic analysis of the development of understanding the causes of inflation, taking supply and demand conditions as the central axis, offers a deeper insight into the inflation process and its essence. It is obvious that the long-term inflation impacting human, productive and financial resources can in no way be justified by extremely short-term benefits to a country’s budget or to monopolistic structures. Analysis of the literature clarifies and confirms the fact that in order for inflation to occur and significantly accelerate, the growth of demand factors must exceed that of supply factors during several years. The research shows that the policy of encouraging the demand, and thus a significant and long-lived inflation, is possible only in non-competitive oligopolistic economies marked by corruption and provoking emigration. On the other hand, adjustment of demand instruments to changes in supply is rather a result of fair competition. Interest rate change as an independent factor is shown to be important for the inflation process, especially for deflation, and therefore for the economy. Moreover, it is not completely clear whether delayed is the cause of inflation or its result, but it is obvious that the negative impact of delayed demand, as delayed human and social well-being, results in weaker supply and thereby also in higher poverty and inflation, all of them encouraging a more thorough examination of this problem. Analysis of the phenomenon of inflation over a historic period provides a realistic picture of this problem and shows the ways how to solve it
ASSESSMENT OF THE EUROPEAN UNION STRUCTURAL ASSISTANCE AUDIT MODEL
Get PDFThe paper covers an analysis and critical assessment of the procedure of selecting the audit model for the European Union structural assistance and elaborates on applicable models. It reviews the authorities of the EU Member States tasked with the performance of the auditing function. The article provides an assessment of the status of the supreme audit institution which acts as a body auditing structural assistance. The conclusion is drawn that in cases when the provisions of different auditing standards differ, regulations of the European Union should specify the particular requirements applicable to the audit
ENERGY EFFICIENCY INVESTMENTS IN HOUSING
Get PDFHousing is at the core of the European Union’s prosperity as it is important to achieve energy saving targets and to combat climate change whilst contributing to energy saving and security. During the programming period 2007–2013, the European Union Cohesion Policy has started playinga new and important role in the process of supporting investments into energy efficiency measures in the housing sector. The increasing need for effective renovation of housing stock, which was constructed in the period when energy resources were cheap, is most notable in Central and Eastern Europe. The use of the European Union fund for the renovation of housing stock in Lithuania servers as a basis for assessing the impact of such investments on energy saving, natural gas import and greenhouse gas emissions
LOOKING FOR THE E-COMMERCE QUALITY CRITERIA: DIFFERENT PERSPECTIVES
Get PDFTo assure a successful development of e-commerce, it is necessary to define the criteria that could guide the choice of a competitive e-commerce system and its quality evaluation. The aim of this study was to bring together and analyze the e-commerce quality criteria proposed in the scientific literature, by e-commerce experts, and important for customers. Analysis allowed to identify a triple set of e-commerce quality criteria, as well as the differences among the criteria provided by invoked sources
RESEARCH ON SYNERGY CAUSED BY NETWORK EXTERNALITY: THE CASE OF LITHUANIAN FIXED TELEPHONE COMMUNICATIONS MARKET
Get PDFThe paper presents a theoretical model of synergetic effect and explores the Lithuanian fixed telephone communications market before and after liberalization in accordance with network externality and user utility change when new users login. Based on the developed theoretical model, an empirical research was done. The aim of the research was to investigate the synergetic effect and to show the importance of network externality in the Lithuanian fixed telephone communications market. According to our theoretical model, there may be a situation when, after liberalization and due to increased competition, the profit of the market monopolist (ex) grows. This means that the competition caused by the decrease in revenue is offset by gains in the supply. In this case, the synergetic effect caused by the network externality takes place
BUSINESS PROCESS MATURITY LEVEL DETERMINATION: A METHODOLOGICAL OUTLINE
Get PDFExtensive literature on business process management (BPM) suggests that organizations could enhance their overall performance by adopting a process view of business. Hammer (2007) states that, in virtually every industry, companies of all sizes have achieved extraordinary improvements in cost, quality, speed, profitability, and other key areas by focusing on, measuring and redesigning their customer-facing and internal processes. In reality, many things need to be changed to harness the power of processes, but how to ensure what exactly need to be changed, how much, and when? In the article, a methodologically extended Hammer’s business process maturity model framework and its methodological implementation guidelines are presented. The developed framework serves as a diagnostic tool for the identification of organization process maturity level and to do reasoned optimal improvements which lead to a better overall organization performance
THE IMAGE OF A HIGHER EDUCATION INSTITUTION, ITS STRUCTURE AND HIERARCHICAL LEVEL: THE CASE OF THE VILNIUS UNIVERSITY FACULTY OF ECONOMICS
Get PDFThe aim of higher education institutions has been recently broadening, which in turn fostered the competitiveness in attracting students, teachers and financing. Unmistakably, higher education institutions are able to attain these goals only via constant improvement of study quality. Nevertheless, the swelling scale of competition at the country’s and international levels in the higher education sector highlights the image of a higher education institution as another considerable factor.This article presents a specified concept of the image of an organization. This concept is specified while considering the peculiarities of higher education institutions; based on it, the conception of a higher education institution’s image is characterized, its main typologies are distinguished, a structural model and hierarchical levels are presented. The theoretical premises are supported by a student survey of the Faculty of Economics of Vilnius University, one of the most prestigious higher education institutions in Lithuania
COMMODITY SCIENCE AS A PREDECESSOR OF QUALITY MANAGEMENT SCIENCES
Get PDFIn this study, the evolution, content, trends and perspective of commodity science as a predecessor of quality management sciences and as an education subject are analyzed. The new models of the interface of commodity science with other disciplines, of the coverage of contemporary quality sciences and of quality management development stages are presented. Also, analysed are the aspects of quality experts’ and quality managers’ formation at Lithuanian universities, business schools and colleges. The article was written using scientific, normative and legal literature, systemising the good practices of Western universities, commodity and quality related international organisations and the results of author’s systematic researches of commodities and services quality problems. The author formulates the insights for the future development of commodity science and quality management as a subject of science and education
MONETARY POLICY CREATES MACROECONOMIC STABILITY
Get PDFThe study of monetary policy concentrates on the systematic analysis of the interaction between the major monetary policy targets and macroeconomic indicators as signals to policymakers about possible changes which may influence the macroeconomic stability. In this respect, the purpose of this article is to justify the arguments supporting the role and importance of monetary policy and its proximate targets for ensuring macroeconomic stability. The object of the study is the impact of monetary policy on macroeconomic changes.The method is analysis of monetary theory, scientific literature and documents. Such a methodological position enables justification of the influence of the key targets of the monetary policy on the global economic processes related to inflation, finance stability and economic growth
A SYSTEM OF ANALYSIS OF THE TOTAL LIABILITIES TO TOTAL ASSETS RATIO
Get PDFThe problem of solvency, which has been dealt with in many authors’ works, is exceptionally topical nowadays when settlements among companies are performed not in a timely manner, disturbing business possibilities to remain active in the times of economic recession. Solvency represents a company’s ability to cover current and non-current liabilities; also, it influences a company’s financial state, results of activities and further development. Therefore, analysis of solvency provides the basis for evaluating a company’s financial state.The means of assessing the total liabilities to total assets ratio by applying a system of pyramidal analysis, which reveals the actions that have a negative impact on this ratio, were investigated for the first time. The total liabilities to total assets ratio was selected as one of the long-term solvency ratios representing a company’s total level of liabilities and its further capacity of borrowing.The purpose of the article is to present a system of analysis of the total liabilities to total assets ratio. The methods used for this purpose were analysis of academic materials, filing of information, comparison and summarizing