VGTU Journals (Vilnius Gediminas Technical University - Vilnius Tech)
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Does technological progress promote or prevent trade conflict? Evidence from China
No full textUsing the bootstrap rolling-window subsample Granger causality test from China, this study analyses the influence of technological progress (TP) on trade conflict (TC). The results show that TP can both promote and prevent TC. In 2012 and 2018, TP led to more trade conflicts between China and its trading partners. This result proves the “trade-loss effect”, suggesting that TP in one country promotes TC by threatening other countries’ income. However, TP had a negative influence on TC in 2021 and 2022. This finding is consistent with the “welfare effect”, implying that TP can prevent TC by providing more high-quality and cheaper products for worldwide consumers. This study suggests that the government should adopt appropriate trade policies when encouraging TP to promote bilateral trade. Furthermore, firms should develop their own high-quality irreplaceable products through technological innovation to address TC risk.
First published online 22 March 202
Valuation of reverse mortgages in the Spanish market for foreign residents
No full textThe continuous growth in life expectancy, besides to the difficult economic and financial situation of the public pension system in Spain, makes reverse mortgages an attractive solution for providing additional income to retirees. However, despite being almost 20 years old, the Spanish market remains immature. Consequently, providers face significant risks, due to factors such as interest rates, housing prices, and longevity. Numerous tourists visit Spain, and many retire there, obtaining legal residence. Therefore, lenders could be interested in marketing reverse mortgages to foreign residents. Nevertheless, the longevity risk faced by these lenders may differ depending on the nationality of the borrower, and profits and losses could vary. Consequently, we propose a methodology for comparing the pricing of reverse mortgages in Spain by considering differences in longevity risk. Specifically, we calculate the amount offered by three types of reverse mortgages to customers of different nationalities, genders, and ages with contracts made in Spain. Our conclusions are pertinent to Spanish lenders since the results indicate that, in general, a Spanish lender would assume a slightly larger risk when lending reverse mortgages to borrowers of the selected nationalities, regardless of other considerations, such as legal issues, which are not addressed in this article.
First published online 31 October 202
Assessing the diffusion of FinTech innovation in financial industry: using the rough MCDM model
No full textWe develop a conceptual structure to explore how financial technology (FinTech) innovation is being implemented to deal with vague, inconsistent and ambiguous knowledge in actual world. The structure of this study is built upon the technology, organization, environment (TOE) context, which one uses the concept of multi-criteria estimation to measure the significance of FinTech innovation. We develop an integrated MCDM (multiple criteria decision-making) model through rough set theory help administrators obtain a strategic influence relation map for enhancing performance approaching towards the aspiration value. This model involves three steps: primary, we apply this rough number to define group views which reflect upon experts’ real experiences; second, we use the rough DEMATEL-based ANP-(RDANP) to acquire the rough influential weights and rough influential network relationship map (RINRM) based on this TOE structure and its corresponding attributes; finally, we utilize the rough modified VIKOR with the influence to analyze the gap between the performance value and the aspirated level. The empirical case was originated from financial industry in Taiwan. According to the weighting results the expected benefits, technology integration, and competitive pressure were the most important criteria. Our results also illustrate how FinTech innovation can be used for promoting financial services
Modeling and significance assessment of road construction participant and user benefits using expert evaluation methods
No full textHuman activities are related to obtain economic, technical, social and environmental benefits. The road construction process participants and road users have direct or indirect benefits from elaboration of new infrastructure. The number of the benefits received by individual entities is publicly discussed by politicians, lobbyists, experts and other decision-makers without having quantitative estimates of benefits, i.e., often relying on intuition or considering theoretical reasoning. The paper suggests a system of 19 benefit entities (criteria) assigned the ranks given by experts. The study involved three categories of experts, including 35 road engineers, 36 transport engineers and 61 road users. The values of the concordance coefficients obtained as a result of the conducted research were found significantly higher than critical values and showed that the opinions of the experts in each category were consistent (not contradictory). This made it possible to consider the average of the opinions of the expert group as a reliable result of solving the problem. Rank averages were replaced by the normalized weights of criteria using Average Rank Transformation into Weight-Linear (ARTIW-L) and – Nonlinear (ARTIW-N) methods. The global averages of criterion weights were used employing the Inverse Hierarchy for Assessment Main Criteria Importance (IHAMCI) method thus calculating the normalized weights of the road-related classified entities (three main criteria). The findings prove that road users benefit the most (weight 0.3485), the road construction contractor (weight 0.3325) is in the next position and the road owner (investor) takes the weight equal to 0.3190. The generated research data can be used for justifying the rationality of road investment
Import dependence of the European organic market and the role of Ukrainian exports
No full textThe European market for organic products has been expanding, with a persistent difference between the growth rates of organic retail trade (actual demand for organic products) and the growth rates of organic agricultural land areas (potential supply of organic products). This makes the European Union (EU) dependent on global imports. This research focuses on the import of organic products from Ukraine. To understand the underlying factors of the EU-27 countries’ import dependence on Ukrainian exports, this article proposes the following: 1) an analysis of Ukraine’s contribution to the total import volume to EU-27 countries by categories of organic products that have the most significant share in overall imports from Ukraine (these categories include: cereals, other than wheat and rice; soybeans; wheat; oilseeds, other than soybeans); 2) a study of the general trends of the European organic market’s import dependence on imports from Ukraine by the categories with the highest contribution; 3) clustering of the EU-27 countries based on organic market indicators; 4) an analysis of the European organic market using Ukrainian imports as an example. Ukrainian imports do not threaten the domestic European market; instead, countries with the highest level of dependence can use Ukrainian organic raw materials for processing and further re-export
Influence of Noise Equivalent Beta Naught estimation on backscattering image classification of TerraSAR-X
No full textNoise Equivalent Beta Naught is the different noise influence that beneficence to the radar signal. This type of noise is available in TerraSAR-X satellite images and expressed in forms of scaled polynomial described the noise power. On the other hand, Sigma naught or backscattering coefficient represents the average reflectivity of a horizontal material samples which used to reflect the nature of the land use and land cover in radar images. In this paper, radar satellite images in dual VV and HH polarization were used to study the influence of the noise on backscattering image classification. The result demonstrated that the visual interpretation of sigma naught which is result from the comparison between existence case and absence case (in the other word: with and without noise) of the noise illustrated that there is no different between them. In the other hand, for more details and more precise, an example of small images are used to show the values of obtained backscattering. The result demonstrated that the NEBN plays the main roles in decreasing the values of backscattering coefficient in TSX image. The influence of this noise had usually high in water body surface, because this surface is generally having small backscattering coefficients compared with land cover
Modeling market value of land plots using GIS
No full textThis work examines the regulatory framework for expert monetary valuation of land plots. Scientific research on the development and improvement of economic-statistical methods for mass monetary valuation of land plots is analyzed. The peculiarities and advantages of using GIS in the valuation procedure are considered. A structure of the valuation database is developed for the effective selection of comparable plots during valuation by comparing sales prices and market analysis. The valuation database is formed based on data on land plot sales. Price formation factors are analyzed in order to construct an economic-statistical model of market value for land plots in Rivne. Scales of indicator values are proposed for formalizing the assessment of price formation factors. Functions of the ArcGIS are used to establish indicator values. The market value of land plots is modeled using multiple regression analysis. Additionally, a surface of land plot values is constructed, which serves to determine the approximate market value. The model has been verified using GIS tools. An accuracy assessment of the developed model has been carried out
Investigation of Hatay-Defne earthquake (20.02.2023) by using GNSS station
No full textNo studies have been conducted on the spatial changes related to the Hatay-Defne earthquake (20 February 2023) up to now. The reason for this situation is that the requested data cannot be accessed as a result of the power and internet interruptions caused by the earthquake. The southern Turkish city of Hatay had a 6.3 magnitude earthquake at 20:04 on February 20, 2023. Three minutes later, a 5.8 magnitude aftershock occurred, and 90 more aftershocks followed. These earthquakes, which were felt across the area, caused individuals who survived the horrific quakes on February 6, 2023, to experience new levels of dread. In the district of Hatay-Defne, the epicenter began. In its first assessment, the United States Geological Survey gave the earthquake a magnitude of 6.3 at a depth of 16 kilometers. In this study, firstly, GNSS data belonging to ARST station in 30 seconds recording interval were downloaded into CSRS-PPP. GNSS data was processed as static and then was processed as epoch to epoch by using kinematic method. The coordinate differences between the obtained coordinates by using the kinematic processing and the obtained coordinates by using the static processing were computed. According to the obtained results, a horizontal movement of approximately 8.30 cm in the south-west direction was observed at the ARST station, which is the closest to the earthquake center
The nexus of big data analytics, knowledge sharing, and product innovation in manufacturing
No full textIn today‘s highly competitive business environments, manufacturers face stiff competition. As digital technologies have become more pervasive, many businesses in the manufacturing sector have begun to tap into the potential of big data analytics to gain an edge in their markets. Companies in the manufacturing sector can gain a significant competitive advantage by strategically utilizing big data analytics to uncover profound insights that have the potential to significantly enhance their capabilities in product innovation.
This research delves into communication’s role as a go-between for big data analytics and product innovations’ success at manufacturing firms. The validity and reliability of the measurement scales were first thoroughly examined in this study. The research model was then tested using structural equation modeling and process macro analysis.
The analytical findings unveil those big data analytics exert a pronounced, positive, and statistically significant impact on product innovation performance and information-sharing dynamics. Furthermore, it is discerned that information-sharing exerts a substantial and affirmative influence on the capacity for product innovation. Additionally, it is established that the impact of big data analytics on product innovation performance undergoes moderation by the information-sharing mechanism
Entrepreneurship and digitalisation in EU: twinning insights through a panel threshold regression
No full textThe study methodologically employs, in a novel perspective, the panel threshold analysis, considering the time frame 2006–2020, to capture the relationship between new business density rate, as a proxy for entrepreneurship, and individuals’ digital inclusion, as a proxy for digitalisation in EU countries. Based on the human capital theory, the results indicated a strong single threshold effect between individuals’ digital inclusion and new business creation, confirming that entrepreneurship is influenced by the skills, knowledge, and experience of the entrepreneurs, including their education, training, and work history. For EU countries, individuals’ digital inclusion boosts business creation only after reaching a certain level. When separating the EU countries from the perspective of their Innovation Index performance, the threshold effect was statistically evidenced in all categories but with different values. The strongest positive influence from digitalisation towards entrepreneurship was visible in emerging countries, while the lowest was for countries classified as moderate innovators. The research provides an original framework for understanding the complex factors that drive entrepreneurship and can help researchers and practitioners develop strategies for promoting entrepreneurial activity. Digitalisation’s opportunities are significant, and entrepreneurial individuals and organisations able to adapt and innovate are more likely to be successful