Scientific Annals of Economics and Business
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PERFORMANCE ANALYSIS OF TWO BIG DATA TECHNOLOGIES ON A CLOUD DISTRIBUTED ARCHITECTURE. RESULTS FOR NON-AGGREGATE QUERIES ON MEDIUM-SIZED DATA
Get PDFBig Data systems manage and process huge volumes of data constantly generated by various technologies in a myriad of formats. Big Data advocates (and preachers) have claimed that, relative to classical, relational/SQL Data Base Management Systems, Big Data technologies such as NoSQL, Hadoop and in-memory data stores perform better. This paper compares data processing performance of two systems belonging to SQL (PostgreSQL/Postgres XL) and Big Data (Hadoop/Hive) camps on a distributed five-node cluster deployed in cloud. Unlike benchmarks in use (YCSB, TPC), a series of R modules were devised for generating random non-aggregate queries on different subschema (with increasing data size) of TPC-H database. Overall performance of the two systems was compared. Subsequently a number of models were developed for relating performance on the system and also on various query parameters such as the number of attributes in SELECT and WHERE clause, number of joins, number of processing rows etc.JEL Codes - M1
THE EFFECT OF CREDIT RISK AND CAPITAL ADEQUACY ON THE PROFITABILITY OF RURAL BANKS IN THE PHILIPPINES
Get PDFThis paper examines the credit risk and capital adequacy of the 567 rural banks in the Philippines to investigate how both variables affect bank profitability. Using the Arellano-Bond estimator, we found out that credit risk has a negative and statistically significant relationship with profitability. However, empirical analysis showed that capital adequacy has no significant impact on the profitability of rural banks in the Philippines. It is therefore necessary for the rural banks to examine more deeply if capital infusion would result in higher profitability than increasing debts. The study also implies that it is imperative for the banks to understand which risk factors have greater impact on their financial performance and use better risk-adjusted performance measurement to support their strategies. Rural banks should establish credit risk management that defines the process from initiation to approval of loans, taking into consideration the sound credit risk management practices issued by regulatory bodies. Moreover, rural banks need to enhance internal control measures to ensure the strict implementation of internal processes on lending operations.JEL Codes - G00, G2, G21, G21
FROM CSR TO CUSTOMER LOYALTY: AN EMPIRICAL INVESTIGATION IN THE RETAIL BANKING INDUSTRY OF A DEVELOPING COUNTRY
Get PDFThe objective of the current paper is to investigate the impact of customers’ perceptions of their service providers’ corporate social responsibility (CSR) on customer loyalty, bringing relevant and useful insights regarding the nature of this relationship in the retail banking industry, and in the particular context of a developing country. The objective was accomplished by planning and implementing a consumer survey among a sample of 1449 Romanian retail banking customers, using an item-pool drawn up from the literature. The observed variables were grouped into several reflective latent variables, and afterwards included into a multiple regression model. The results indicate that customers’ loyalty towards retail banking companies is significantly and positively impacted by how customers perceive their providers’ CSR. Moreover, analyzing each category of responsibilities individually, banks’ responsibility towards their customers can be emphasized as being the most important dimension in our research context. The results convey practical implications for customer loyalty enhancement in a European developing country’s retail banking industry, by identifying those CSR dimensions on which organizations should focus on within their CSR policies implementation and communication.JEL Codes - M14; M3
A MULTILEVEL ANALYSIS OF THE RETURNS TO EDUCATION IN ECUADOR. THE MULTIFACETED IMPACT OF HUMAN CAPITAL
Get PDFThis paper analyses the returns to education in Ecuador based on cross-sectional data collected by a National Survey at the individual- and canton-levels in 2005 and 2015. The multilevel analysis provides the methodological framework that allows capturing the regional peculiarities of data as well as addressing the high regional economic heterogeneity. The two level- random intercept and random slope models are used to examine the impact of individual-level and canton-level characteristics on the labour income. In subsidiary, the paper explains the proportion of variance in individual- level income that is explained by canton- level characteristics.JEL Codes - I26, J31, I2
EFFICIENT USE OF BEHAVIORAL TOOLS TO REDUCE ELECTRICITY DEMAND OF DOMESTIC CONSUMERS
Get PDFPurpose: The present study investigated the main literature on the subject of methods and policies for reducing the electricity demand of domestic consumers, in order to identify the place of behavioral tools.Methodology: We used secondary sources, performing a literature review, together with analysis and synthesis. Findings: Policy makers prefer to use tools offered by neoclassical economics, such as various forms of taxation, fines and financial incentives in order to make domestic electricity consumers save electricity, on the assumption that consumers will make rational decisions while maximizing their personal benefit. However, studies conducted in recent years in the field of behavioral economics, which are based on the assumption that consumers’ decisions are not rational and are affected by cognitive biases, showed that the use of behavioral tools, such as detailed online information (feedback),social comparison information, information on varying rates (dynamic pricing) and general information (advertising campaign), are tools that are not less appropriate than the ones the neoclassical economics offers, mainly because electricity is an invisible product and consumers are unable to assess it by normal cognitive measures. Using an interdisciplinary combination of behavioral tools that come from a variety of approaches taken from a wide variety of different academic fields, it is possible to receive efficient results in the endeavor of reducing electricity demand. Implications: Although the neoclassical economics still remains the fundamental theory used by policymakers, it is recommended to consider behavioral economics as a complementary approach to the neoclassical economics, and combine behavioral tools in the policymakers’ toolbox, especially when those tools do not require a significant financial investment, thus efficiently maximizing the reduction of electricity demand among domestic consumers. These theoretical results will be used for designing future empirical researches on the efficiency of behavioral tools in changing the pattern of electricity consumers’ behavior.JEL Codes - Q40, M21, M38, H4
EXPORT, ENERGY CONSUMPTION AND ECONOMIC GROWTH INTER-LINKAGES: THE CASE OF LITHUANIA
Get PDFThis paper has aimed to examine the causal relationships between energy consumption – economic growth, export – energy consumption and export – economic growth in Lithuania during the period of 1998 – 2015. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Granger causality test has been used to a time series data set to determine the causality between variables. The results of Granger causality test have shown unidirectional causality running from GDP to energy consumption, from export to GDP and from export to energy consumption. It is obvious that GDP and export play significant roles in accelerating energy consumption in Lithuania. The determination of the causal links between energy consumption – economic growth, export – economic growth and energy consumption – export has provided policy makers with the main insights to formulate future policy directions for sustainable economic development in Lithuania.JEL Codes - F10; O47; Q4
Systematic Analysis of the Current Academic Research on Social Media Marketing
Get PDFWith the advent of social media where customers have the technical ability to upload own content the change occurred in some of the communication habits online. This world of constant communication is a challenge for businesses as well researchers. Academic research in this area is bringing valuable insights into people attitudes and behaviour on the social media. What is the current situation and where the research field is heading is a question of high importance. This study uses the systematic approach to reviewing the literature and to show the development of publications produced at Czech universities. Although the results show an increasing number of studies, Czech research is lagging behind other similar countries. Compared with the best countries, it is lagging behind in the number of quotations per article. On the basis of these analyses, suggestions for future research that can help to promote future theory development are proposed.JEL Codes - M30; M3
EFFICIENCY OF PAY FOR PERFORMANCE PROGRAMS IN ROMANIAN COMPANIES AND THE MEDIATING ROLE OF ORGANIZATIONAL JUSTICE
Get PDFThe present research examined the influences of pay for performance programs on employee performance in the Romanian context, by comparing a sample of employees in companies in which such programs are implemented to a sample of employees in organizations in which performance is not used as a criterion in deciding financial rewards. Results show that the work performances of the former, as evaluated by the direct supervisors of each employee, are significantly higher than those of the latter, and that this effect of performance pay is partly mediated by its positive effects on employee perceptions of distributive and procedural justice. Furthermore, results indicate that the individual – level financial incentive systems are more efficient in fostering work performance than the team – level performance pay programs in the Romanian employee sample, and that they also have stronger effects on the two dimensions of organizational justice.JEL Codes - M52, L25, D6
AN ANALYSIS REGARDING CASH HOLDINGS. EMPIRICAL STUDY ON THE BUCHAREST STOCK EXCHANGE LISTED FIRMS
Get PDFWorldwide corporate cash holdings have significantly increased and have become an important tool for managers. This study explores the factors that influence firms’ behavior regarding cash holdings and the signal that financial conservatism is sending to potential investors. Our data consists in annual observations collected through the Reuters Eikon platform. It includes companies listed on the Bucharest Stock Exchange, the investigated period being 2005-2014. The econometric analysis employs multivariate regression for an unbalanced panel data, using the OLS technique. The results show a positive correlation of cash holdings with the value registered by this indicator in the previous period, fact that might be interpreted as an attempting of the companies to maintain a target level of cash. Also, the results showed a non-linear relationship between leverage and cash holdings, while the tangible assets determine a negative correlation. As regards firm size and ownership concentration, the correlations were not statistically validated.JEL Codes - C23; G31; L2
Evolving Importance of Securities Market to Ensure Economic Growth: Evidence from Armenia
Get PDFThis research aims to reveal the importance of securities market in ensuring economic growth in Armenia. In order to make the research more substantial, we also examined the impact of other financial market segments, such as insurance market and credit market, on the economic growth. To estimate the relationship between financial market segments and economic growth, an empirical research was conducted using correlation and regression techniques. The research reveals that the most significant impact on the economic growth among Armenian financial market segments has the credit market of Armenia. There is no significant relationship between economic growth and insurance, as well as corporate securities market. It is pointed out in the research, that the evolving importance of the role of securities market in the economic growth is not yet demonstrated in Armenia, which, perhaps, results from the absence of interaction between securities market and economy in Armenia.JEL Codes - G23; O1