Scientific Annals of Economics and Business
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Strong Competition Among Audit Companies and Power to Achieve Higher Audit Fees: Who is at the Forefront?
Get PDFThe aim of the research is to determine if the audit fees are statistically significantly different between the audit companies and vary, depending on the size of client and audit company. We find that for large auditees the average audit fees of the Big 4 Group did not statistically significantly deviate from normative audit fees, even surpass them, but not statistically significant. On average, small audit firms when auditing large auditees do not meet the predicted normative audit fees, and this deviation is statistically significant. Also, we confirm that the Big 4 auditing companies (KPMG, E & Y, Deloitte and PwC) were, statistically, significantly more likely to charge higher audit fees than a small auditing company would charge. The paper contributes to the literature to give users a clear indication about what average audit fees are typical of the Slovenian audit companies and which audit company is at the forefront.JEL Codes - M42; M48; D4
The Role of e-Commerce in the Success of Low-cost Carriers
Get PDFThis research aims to answer the question if e-commerce favoured in a special way the growth of low-cost carriers within the civil aviation market. After defining low cost and traditional carriers’ business models, data on transported passengers were collected for three countries (Italy, Germany and Spain) and confronted with the number of e-consumers. Despite a significant correlation in all the three markets, only in Italy our hypothesis has been supported by Granger causality, and the regression analysis allows to forecast a future characterized by a growing dominance of LCCs. Although the definition of an econometric model will require further studies, the distinctive features of the Italian market might represent a starting point for future research on the complex relationship between e-commerce and air transport.JEL Codes - L10; L93; C53; C6
The Organisational Justice as a Human Resources Management Practice and its Impact on Employee Engagement: The case of the Prefecture of Attica (Greece)
Get PDFOrganisational justice is a key component in the practice of human resources management in any work environment. The aim of this research survey is to highlight the meaning and importance of organisational justice and its impact on employee engagement. To achieve this aim, except for the literature review, the survey examines the extent to which the distributive, procedural and interactional justice impact on work and organisational engagement, through a research in a certain Greek public organisation. As regards the statistical analysis of the research hypotheses, we used methods of the SPSS 17.00 statistical package. The results showed that the distributive justice significantly impacts on both types of engagement, while no effect was detected between procedural justice and the two types of engagement. The interactional justice was found to determine, partly, only the organisational engagement. The findings overwhelmingly verified the existing bibliographical references, resulting in a noteworthy empirical precedent which could contribute to the field concerning the impact that organisational justice exerts on certain aspects of organisational behaviour.JEL Codes - M1; M1
The Effects of Socio-Economic Factors on Health of Elderly in East Java
Get PDFThe study examines the effect of the socio-economic factors on the health status of elderly in East Java using the Indonesian Socio-Economic Survey (SUSENAS) of 2016. The socio-economic factors consist of sex, education, working activity, relationship status with the head of household, living arrangement, economic status, and location of residence. This study uses the ordered probit analysis accommodating three ordered potential health status of elderly, including (1) elderly without health problems, (2) elderly with health problems but not severe, and (3) elderly with severe health problems. The result of the study suggests that the health of the elderly is influenced significantly by some socio-economic factors including education, working activity, relationship status with head of household, living arrangement, and economic factors.JEL Codes - J1
Factors that Determine the Capital Structure: An Empirical Study on Low-cost Airlines
Get PDFThe purpose of this study is to identify the factors that determine the capital structure of low-cost airlines. Accordingly, it is aimed to test the factors that determine the capital structure in low-cost airlines in the context of capital structure theories. In the study, 15 airline companies, which had continuous financial data during the 2004-2015 period, were examined empirically. Panel data analysis was used as a method in the study. Findings of the study show that low-cost airlines generally operate based on the trade-off theory while borrowing in the short-term and based on the pecking order theory while borrowing in the long-term.JEL Codes - G32; L93; C2
Network Advantage: Mediating Effect on Business Performance
Get PDFThe aims of this research is to contribute to the literature and the conceptual model of the effect of relational capital on network advantage and business performance, the effect of network competence on network advantage and business performance, the effect of knowledge sharing on network advantage and business performance and the effect of network advantage and business performance. The number of samples in this study examined was 289 sample SMEs Furniture on Central Java Indonesia. The purposive sampling technique was used to the data collection methods. The results of this study showed that relational capital is a significant negative effect on business performance and positive significance on network advantage. Network competence is a significant effect on business performance and negative impact on network advantage. Network competency is a significant effect on business performance and network advantage. Relational capabilities is a significant effect on business performance and network advantage. Network advantage is a significant effect on business performance.JEL Codes - M3
Gold Exchange Traded Fund - Price Discovery and Performance Analysis
Get PDFThe paper aims to examine the price discovery process and the performance of Gold Exchange Traded Funds especially with respect to two Gold ETFs, namely, Goldman Sachs Gold Exchange Traded Scheme (GoldBeEs) and SBI Gold Exchange Traded Scheme (SBIGETS), for the period 2009 – 2016. The study has employed Johansen cointegration and Johansen’s Vector Error Correction Model (VECM) for the price discovery analysis. The results of VECM reveal that the spot prices lead the Gold ETFs price during the study period. Tracking Error analysis shows that Gold ETFs have neither outperformed nor underperformed the spot price. Price Deviation analysis indicates that Gold ETFs are trading on an average lower than the spot price of gold. The entire analysis reveals that although the price discovery takes place in the spot market, Gold ETFs have performed as well as physical gold and the slight difference in price with that of Gold is only because of certain fees, which are applicable in the management of Gold ETFs.JEL Codes - G13
Information Transmission Between Cryptocurrencies: Does Bitcoin Rule the Cryptocurrency World?
Get PDFThis paper investigates the information transmission between the most important cryptocurrencies - Bitcoin, Litecoin, Ripple, Ethereum and Bitcoin Cash. We use a VAR modelling approach, upon which the Geweke’s feedback measures and generalized impulse response functions are computed. This methodology allows us to fully characterize the direction, intensity and persistence of information flows between cryptocurrencies. At the available data granularity, most of information transmission is contemporaneous, that is, it occurs within a day. However, it seems that there are some lagged feedback effects, mainly from other cryptocurrencies to Bitcoin. The generalized impulse-response functions confirm that there is a strong contemporaneous correlation and that there is not much evidence of lagged effects. The exception appears to be related to the overreaction of Bitcoin returns to contemporaneous shocks.JEL Codes - G10; G14; G1
Calculation Method of the Proposed Unemployment Gender Inequality Indicator
Get PDFThe paper describes a new calculation method of the unemployment gender inequality indicator, that was based on the enhancement of the ratio of the unemployment rate of men and women, and on the restriction with the levels of the average unemployment rates. The proposed method of the calculation of the gender inequality indicator eliminates weak spots of the known two methods. Our proposed method was explained and compared with the known two methods, with practical examples using data of Spain, over the sample period 1972-2016. The result of the proposed method is the indicator of the unemployment gender inequality and severity intervals of gender inequality. With severity intervals of the gender inequality, we determine the importance of the gender inequality issue based on the calculated unemployment gender inequality rate.JEL Codes - C02; C82; J1
The Role of XBRL on EMAS Reporting: An Analysis of Organisational Values Compatibility
Get PDFThis paper proposes a measurement method for assessing the extent to which the XBRL digital standard eXtensible Business Reporting Language can assist firms in implementing their reporting when applying EMAS The EU Eco-Management and Audit Scheme. A specific survey based on the work of (Bunker et al., 2007), which uses Value Compatibility, was carried out at the most important firms in Southern Spain. Different sectors were involved in the study: public hospital, copper manufacturing facilities, petrochemical plant and pulp and renewable energy production. The results reveal some concordances between EMAS using XBRL as a reporting technology, and the cultural, organisational and technical working environment of the analysed firms, specifically those related to the Structural Dimension. By contrast, some discordance is highlighted related to the Practical Dimension. The paper proposes for the first time the application of the global financial standard XBRL for a non financial purpose like the widely accepted EMAS, to actual potential uses in real scenarios. The empirical research combined heavy industry with services, privately owned firms with public entities, private and public sector, in the analysis of this technology. The paper represents a necessary landmark for a subsequent longitudinal study.JEL Codes - D8; M14; M15; M41; M4