Scientific Annals of Economics and Business
Not a member yet
370 research outputs found
Sort by
Do National Cultures Impact Mortgage and Financial Well-Being Levels? Evidence from Europe
Get PDFThis study explores the influence of national culture on mortgage and financial well-being levels in the European context. The paper employs regression analysis using mainly Hofstede's cultural dimensions and the EU-SILC dataset from Eurostat to provide a better understanding of the determinants of the decision to hold secured debts and a better explanation of the states of financial well-being. To the best of our knowledge, no study has addressed the influence of culture on mortgage and financial well-being levels in the European setting using samples from different countries and controlling for household characteristics. We conclude that power distance, masculinity, uncertainty avoidance, and long-term orientation are negatively associated with the likelihood of holding a mortgage. The results also show that masculinity, uncertainty avoidance, long-term orientation, and indulgence are negatively associated with the amount of mortgage. Moreover, individualism and long-term orientation (power distance and uncertainty avoidance) are positively (negatively) associated with being in a state of financial well-being. Collectively, our research shows that national cultures play a crucial role in household finance.JEL Codes - D10; G40; G5
How to Measure Flamenco Performer Value? A Cultural Economic Approach
Get PDFThis article designs an empirical methodology to measure the perceived value of the performers, specifically using the significant example of flamenco performer. The methodology is based on an Ordered Logit Model whose dependent variable is the valuation of the flamenco performer by spectators, which complements the research carried out by Heredia-Carroza (2019). The results show that virtuosity, feelings, Roma origin of the performer are significant and they have a positive effect in the valuation of it. Also, spectator’s features as time consuming and number of albums acquired have a positive effect in the performer valuation. Finally, the results have a greater importance as they provide recording companies, an instrument that reduces uncertainty about the characteristics of the performer and it can also be used as a decision-making instrument for future signings of performers in record companies based on the spectators’ perceptions. This methodology could be replicated for the study of other musical genres
Reposition of Forward-to-Backward Input-Output Analysis
Get PDFA common phenomenon that is met in the literature is the fallacious use of traditional quantitative backward-to-forward analysis for the construction of matrices for the forward analysis. The generated deceitful backward-to-forward direct individual indices load to erroneous total sectoral forward linkages indicators (TFLs’) and type I for-ward multipliers (t.I-FMs’). Moreover, they are used in the literature as a part for other “mixed” indicators adding correct backward to incorrect forward measurements, leading the analysts to inappropriate deductions as regards the frontloading concernment of various productive sectors in an economy. In order to be tackled this situation an “ad-justed” quantitative forward-to-backward approach must be adopted, as a necessary complementary part for a con-summate growing planning. The paper scrutinizes and concretizes this proposed adjusted approach, both in theory and in practice, via an empirical application. The adjusted forward type I multipliers are nominated and calculated, escorting this analysis.JEL Codes - C18; C51; C52; C67; O2
To What Extent does CEO Behavior Enhance Risk-Taking? A Banking Sector Related Evidence
Get PDFThe present paper is designed to examine the extent of the Chief Executive Officer’s (CEO) behavioral impact on the bank risk-taking venture. The sample involves a set of 540 banks, observed over a longitudinal panel data set (2007-2019). A multiple linear-regression technique has been applied. The attained results prove to highlight that when CEOs seem to enjoy a great deal of overconfidence, they are more likely to influence the board’s decision-making to their proper risk-reducing advantage. The greater the CEO dominance is, the more decreased the bank specific risk turns out to be, given the significantly positive association of CEO dominance with the risk-taking procedure. This paper's results have implication for banks and policymakers looking to promote risk-taking. This paper could be useful to shareholders as they aim to recruit the most gifted CEOs with the relevant set of competences in order to meet shareholders' goals and enhance bank competitiveness.JEL Codes - G23, G32, G4
Public Funding of Research into Ethnological Activities in Andalusia (Spain): Boosting the Academic Career of Researchers
Get PDFThe advent of democracy in Spain and the establishment of the different autonomous communities marked the beginning of a process to transfer political, economic and other competences over Culture and Cultural Heritage. Following its creation in 1984, the Ministry of Culture of the Andalusian Autonomous Government incorporated a Directorate-General for Cultural Assets into its organisational structure and embarked on an ambitious programme of actions to support Andalusian historical heritage, including creation of a management structure, enactment of a specific heritage law and budget allocations for protection tasks. From the outset, a type of heritage little known until then emerged: ethnological heritage. Dynamic actions were also promoted to fund research into this area, including grants for ethnological activities, financing for publications and funding for ethnological symposiums.
This paper analyses the different ethnological activities carried out and their funding, and assesses the extent to which this investment favoured the professional development of teaching staff in the field of Social Anthropology in Andalusia, specifying the marginal effects and differentiating them according to gender and university size using binary choice models (Logit)
Changes in marketing management induced by the COVID-19 pandemic: Lithuanian organisations’ marketing landscape
Get PDFThe COVID-19 pandemic has affected all aspects of people's lives, politics, and business. The pandemic forced businesses to overlook their strategies including the marketing function. Therefore, the research aims to determine changes in organizations’ marketing management that have been induced by the COVID-19 pandemic in Lithuania. To achieve the aim of the research the analysis and synthesis of scientific literature and questionnaire research have been applied. The analysis of the research results revealed that organisations increasingly take advantage of the benefits of e-commerce. Nevertheless, most of the organisations do not follow global recommendations not to decrease marketing or advertising budgets during the crisis, and it was especially evident during the first wave of the COVID-19 pandemic. Moreover, the assumption could be made that the COVID-19 pandemic will accelerate the paradigm shift in a business-consumer relationship. The provided results are valuable for scientists as well as marketing practitioners. Insights provided in the research will enable organisations to react appropriately to the crisis and take necessary marketing actions. Moreover, the received results have indicated the changes which occurred in the marketing landscape. These findings create scientific value and provide a basis for further research.JEL Codes - H62; H6
Intellectual Capital, Technological Intensity and Firm Performance: The Case of Emerging Countries
Get PDFWhile neglecting the importance of technological intensity, most of the prior studies documented the positive contribution of intellectual capital (IC) to corporate financial performance. This study aims at analyzing the relation between IC and corporate financial performance addressing the technological intensity in different sectors from 17 emerging countries. The impact of IC, which is measured by Value Added Intellectual Coefficient (VAIC) and its components; Capital Employed Efficiency (CEE), Human Capital Efficiency (HCE), and Structural Capital Efficiency (SCE), on corporate financial performance will be evaluated using panel data analysis for the period between 2009-2019. Accordingly, IC and its components are found to be significant drivers of financial performance being higher for sectors that are more technology intensive. Moreover, human and physical capital are the main components, which boost finance performance for all groups irrespective of technological intensity in the emerging market context
Volatility Exchange Rate and Economic Growth: Insight from ASEAN Member Countries
Get PDFThis study aims to determine the effect of exchange rate volatility on economic growth in the ASEAN member countries (Indonesia, Thailand, Vietnam, and Cambodia) through investment. Based on the previous studies, the researcher focuses on developing the initial research analysis because it can control different company levels' characteristics and then determine the impact of exchange rate changes on economic growth mediated by investment. There is a limited analysis of whether exchange rate movements encourage overall investment in this study's particular direction. The author's primary focus is whether the export or import channels or both play an essential role in determining a company's investment. This study's population is in ASEAN member countries that have been published by the World Bank (https://www.worldbank.org/) and continue to exist during the period 1998-2019. The sample selection in this study used a purposive sampling method. Some of the ratio data were available in the financial report summary. The analysis method used in the study is the path analysis
Unemployment Hysteresis: Attached or Mismatched?
Get PDFThis paper investigates the empirical significance of the unemployment problem whether it is structural or temporary on the basis of region-based, income-based and aggregate classifications of different countries for the yearly data from 1991 to 2018. In the first part of the paper, we examine the stationary position of unemployment series by way of using individual unit-root tests. Since the series are possibly subjected to the structural breaks, we also use additional approaches in which the effects of the break dates are checked in the analysis. Furthermore, we compare the initial findings of univariate unit-root tests along with panel unit-root testing procedures to critically assess the statistical validity of the hysteresis hypothesis in unemployment for given samples. The empirical findings imply that we cannot reject the hysteresis hypothesis for different classifications of the countries against the alternative of a natural rate even in the presence of structural breaks.JEL Codes - C10; E20; E2
Determining the Return Volatility of Major Stock Markets Before and During the COVID-19 Pandemic by Applying the EGARCH Model
Get PDFWith this study, we aim to determine the effect of the Covid-19 pandemic on the return volatility of the DJI, the DAX, the FTSE100 and the CAC40 stock indexes. We take return volatility between 1st January 2019 and 17th July 2020 and split it into two separate periods - before the Covid-19 pandemic outbreak and the first wave of the ‘In-Pandemic’ period. Only the so-called first wave of the pandemic was chosen to avoid the influence of knowledge of possible vaccines and antiviral solutions. Data were analysed by using the exponential GARCH (EGARCH) model. Findings show excessive volatility in the major stock markets with short volatility persistence and the presence of leverage in returns during the first wave of the Covid-19 pandemic outbreak. Moreover, during the pandemic period, positive shocks have been observed to have a greater effect than negative socks on the stock index return volatility