Scientific Annals of Economics and Business
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CORPORATE GOVERNANCE AND HUMAN RESOURCE MANAGEMENT IN NIGERIA’S DOWNSTREAM PETROLEUM SECTOR
Get PDFThe emergence of a ‘new world economy’ makes it imperative for corporate entities to adjust their corporate values, practices and internal processes. The paper considered the requisite regulations, policies and human resource outcomes attributable to wider spectrum of stakeholders. Specifically, the paper explored interrelatedness of selected corporate governance practices and human resource management out comes. In this regard, the paper relied on established corporate management theories as a platform for empirical consideration of selected issues relative to four established players in Nigeria’s downstream petroleum sector. Contextual arguments towards are captured to achieve a more robust appreciation of issues affecting individual participations and operations of the corporate entity. The study found that there is a significant relationship between corporate governance practices and human resource management outcomes.JEL Codes - M10, M1
The Critical Analysis of Profit for its Allocation Decision-Making
Get PDFThe decrease of the business property can cause a reduction in the production ability of the enterprise to the extent causing an involuntary closing of business activities. It is usually caused not only by the reported loss, but also by the greater distribution of profits, as is the amount of the real level of the enterprise's distributable profit. A thorough analysis of the reported accounting profit described in this paper should be the starting point for the allocation of profit. It is important to be able to identify and assign a portion of the accounting profit, corresponding to the non-realised profit and fictitious profit, where eventual release outside the enterprise threatens the future performance of the enterprise. These portions of the reported profit do not correspond to the actually made, realised and real production, which is a necessary condition to achieve a real profit to possible safety division to investors.JEL Codes - D24; G32; M11; M4
Overall Equipment Effectiveness within Counterfactual Impact Evaluation Concept
Get PDFCounterfactual impact evaluation (CIE) is a scientific quantitative approach mainly based on experiments and quasi experiments. CIE is trying to prove a causal relationship between outputs and outcomes. CIE does not take into account coherence of external incentives of companies with internal incentives that have or may have an impact on the behaviour of enterprises. The paper sets up internal evaluation indicators for businesses, counterfactuals useful for creating a more complex metrics evaluating businesses in the area of performance. The aim of the paper is to present model situation using the elementary principle of counterfactual impact evaluation based on “the Overall Equipment Effectiveness (OEE)”.JEL Codes - M11; M21; M2
IMPACT OF TELEWORK ON THE PERCEIVED WORK ENVIRONMENT OF OLDER WORKERS
Get PDFTelework has become a natural part of regular work life of employees who use the information communication technology (ICT). Telework has a potential to support postponing retirement for mental workers. The objective of this research was to find out interaction between senior employees’ teleworking and well-being. The main research question was – can telework improve elderly employees’ well-being? Over 100 respondents from different areas in mental work were involved in a quantitative survey. The results of a conducted survey showed that telework is exaggerated to some extent as teleworkers’ well-being (M=7.79; SD=1.28) does not diverge from non-teleworkers’ well-being (M=7.75; SD=1.40). However, telework can be neither underestimated nor taken as interchangeable with traditional work. Therefore, it is necessary to pay attention to telework as a different way of working with its specialties. Systematic approach to telework enables companies to employ elderly by providing diversity of work forms.JEL Codes - J14, J26, J2
Modelling Environment Changes for Pricing Weather Derivatives
Get PDFThis paper focuses on modelling environment changes in a way that allows to price weather derivatives in a flexible and efficient way. Applications and importance of climate and weather contracts extends beyond financial markets and hedging as they can be used as complementary tools for risk assessment. In addition, option-based approach toward resource management can offer very special insights on rare-events and allow to reuse derivative pricing methods to improve natural resources management. To demonstrate this general concept, we use Monte Carlo and stochastic modelling of temperatures to evaluate weather options. Research results are accompanied by R and Python code.JEL Codes - G13; G17; G1
Quality Management in the Higher Education of the Republic of Moldova as a Framework for University Performance
Get PDFThis investigation is focused on two objectives: 1) explaining the relationship between quality management and performance management in higher education; 2) evaluating the existing quality management systems in the higher education institutions of the Republic of Moldova. In order to accomplish the first objective, a comparative theoretical analysis of the quality management and performance management was carried out in terms of common aspects and distinctive peculiarities. Consequently, it was reasoned that the performance management system of a higher education institution is created and functions on the basis of the quality management system by extending the area of the quality objectives to the level at which they will ensure performance or, in other terms, by moving towards excellence. In order to achieve the second objective, an opinion survey for the teaching and managerial staff from 6 universities was carried out. As a consequence of processing the obtained results, there were identified problems related to the functioning of the quality management systems. The investigation resulted in the formulation of a set of recommendations for the higher education institutions of the Republic of Moldova in order to increase the efficiency of the quality management systems functioning and thus to ensure an efficient management.JEL Codes - I12; M1
Influence of Main Macroeconomic Factors on the Level of Employment on Different Size Enterprises – The Evidence from the Sector of Transportation and Storage
Get PDFThe main aim of this paper is to verify the hypothesis that the shift in levels of main macroeconomic variables – in this case in levels of GDP and exports – cause shift of employment levels in private sector, and this change is different for smaller enterprises than for “big players”. Calculated estimation will be presented on data from the sector of transportation and storage for four countries – the Czech Republic, Germany, Austria, Poland and Slovakia for the period 2005-2014, which cover the economic crisis in 2008. Countries were selected such that they cover both highly developed countries (Germany and Austria) and former Eastern Bloc countries (Czech Republic, Poland, and Slovakia) of the European Union placed in the close geographic area. Expected results would show different trends in employment levels for different types of enterprises in all countries.JEL Codes - J21; E2
RELEVANT DETERMINANTS OF THE POLITICAL PARTIES’ ENVIRONMENTAL PREFERENCE
Get PDFAn instrument that political parties use to inform the electorate with regard to their policy preference (including preference towards the environment) is the electoral manifest. This paper analyses some important drivers that push political parties towards adopting pro-environmental attitudes by analysing the content included in their electoral manifestos (using the Comparative Manifesto Dataset). As explanatory factors we consider various socio-economic, ideological and international related variables, but our main focus is on environmental related determinants. We proceed as such because the paper aims to test the validity of ‘the ecological approach’ given that the current literature overlooks this issue or doesn’t succeed in providing strong evidence of its existence. Our dataset covers 49 countries worldwide and a total of 190 national electoral years, occurring between 2000 and 2015. The resulting evidence, which might confirm the validity of ‘the ecological approach’, is rather weak, but there is nonetheless strong evidence to prove the existence of an opportunistic behaviour of the political parties (confirming the validity of the ‘opportunistic political cycle’).JEL Codes - Q58, Q50, D7
SPECIFICS OF IFRS ADOPTION BY CENTRAL AND EASTERN EUROPEAN COUNTRIES: EVIDENCE FROM RESEARCH
Get PDFThe paper reviews recent literature on the specifics of adoption of International Financial Reporting Standards (IFRS) by the new EU members from the Central and Eastern Europe. Despite being members of the EU or OECD, the transition to a standard developed economy has not yet finished. The first part of the paper presents macroeconomic statistics and capital market data, which underline a unique economic structure of the region (relative unimportance of capital markets for raising capital, strong dependence on foreign direct investments) combined with the lacks in institutional environment. Under such conditions, the economic consequences of IFRS adoption can be unpredictable and adverse. The second part of the paper analyses the reflection of specifics of the IFRS adoption in the CEE region in research studies covered by the Thomson Reuters’ Web of Science database. The analysis reveals (a) cross-country disproportion in the research coverage of the area; (b) relatively low coverage of the IFRS research focusing on these transition countries in top journals.JEL Codes - M4
TRUST - THE INTANGIBLE ASSET OF POLICYHOLDER BEHAVIOR ON INSURANCE MARKET
Get PDFOur analysis aims to identify the typology of consumers’ behavior on insurance market. The initial sample consisted of 1579 individuals who were randomly selected by Metro Media Transilvania (MMT) with the Computer-Assisted Telephonic Interview (CATI) method. Using the Multiple Correspondence Analysis (MCA) and logistic regression, we are showing that higher levels of trust, pleasant experiences, income and education have a positive impact on insurance development.
This theoretical approach is relatively new as there are no specialized studies to investigate the intangible asset in insurance companies in Romania’s case. This article should help the insurers to understand the role of trust and the importance of pleasant experiences in selling financial services such as life insurance and voluntary private pension.JEL Codes - C25, G02, G22, J3