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Neuromanagement decision making in facial recognition biometric authentication as a mobile payment technology in retail, restaurant, and hotel business models
No full textResearch background: With growing evidence of biometric identification techniques as authentication, there is a pivotal need for comprehending contactless payments by use of facial recognition algorithms in retail, restaurant, and hotel business models.
Purpose of the article: In this research, previous findings were cumulated showing that harnessing facial recognition payment applications as software-based contactless biometric algorithms results in remarkably qualitative enhancement in purchasing experience.
Methods: Throughout March and November 2021, a quantitative literature review of the Web of Science, Scopus, and ProQuest databases was carried out, with search terms including "facial recognition payment technology", "facial recognition payment system", "facial recognition payment application", "face recognition-based payment service", "facial authentication for mobile payment transactions", and "contactless payment through facial recognition algorithms". As the analyzed research was published between 2017 and 2021, only 187 articles satisfied the eligibility criteria. By removing questionable or unclear findings (limited/nonessential data), results unsubstantiated by replication, too general content, or having quite similar titles, 38, mainly empirical, sources were selected. The Systematic Review Data Repository was harnessed, a software program for the gathering, processing, and analysis of data for our systematic review. The quality of the selected scholarly sources was assessed by employing the Mixed Method Appraisal Tool.
Findings & value added: Harnessing facial recognition payment applications as software-based contactless biometric algorithms results in remarkably qualitative enhancement in purchasing experience. Subsequent attention should be directed to whether perceived value and trust shape customers? adoption of biometric recognition payment devices
Implementing artificial intelligence in forecasting the risk of personal bankruptcies in Poland and Taiwan
No full textResearch background: The global financial crisis from 2007 to 2012, the COVID-19 pandemic, and the current war in Ukraine have dramatically increased the risk of consumer bankruptcies worldwide. All three crises negatively impact the financial situation of households due to increased interest rates, inflation rates, volatile exchange rates, and other significant macroeconomic factors. Financial difficulties may arise when the private person is unable to maintain a habitual standard of living. This means that anyone can become financially vulnerable regardless of wealth or education level. Therefore, forecasting consumer bankruptcy risk has received increasing scientific and public attention.
Purpose of the article: This study proposes artificial intelligence solutions to address the increased importance of the personal bankruptcy phenomenon and the growing need for reliable forecasting models. The objective of this paper is to develop six models for forecasting personal bankruptcies in Poland and Taiwan with the use of three soft-computing techniques.
Methods: Six models were developed to forecast the risk of insolvency: three for Polish households and three for Taiwanese consumers, using fuzzy sets, genetic algorithms, and artificial neural networks. This research relied on four samples. Two were learning samples (one for each country), and two were testing samples, also one for each country separately. Both testing samples contain 500 bankrupt and 500 nonbankrupt households, while each learning sample consists of 100 insolvent and 100 solvent natural persons.
Findings & value added: This study presents a solution for effective bankruptcy risk forecasting by implementing both highly effective and usable methods and proposes a new type of ratios that combine the evaluated consumers? financial and demographic characteristics. The usage of such ratios also improves the versatility of the presented models, as they are not denominated in monetary value or strictly in demographic units. This would be limited to use in only one country but can be widely used in other regions of the world
Enterprise digital transformation and debt financing cost in China?s A-share listed companies
No full textResearch background: The rapid development of digital economy has set off a new wave of enterprise reform. Developing the digital economy is not only an urgent requirement of the current situation, but also an important way to meet the people\u27s better life.
Purpose of the article: This paper attempts to reveal the important role of the development of digital technology on the debt financing cost of micro enterprises, and provide micro evidence for the integration of digital economy and real economy. At the same time, this paper wants to provide relevant guidance for formulating digital related policies and reducing the financing cost of the real economy.
Methods: Taking China?s A-share listed companies from 2007 to 2020 as a sample, this paper empirically tests the impact of enterprise digital transformation on debt financing cost and its mechanism. In the robustness test, this paper uses the measures of changing independent variables and dependent variables, instrumental variable method and quantile regression method. In the mechanism test, this paper uses the intermediary effect model. In the further study, this paper uses the method of group regression.
Findings & value added: The study finds that the digital transformation of enterprises significantly reduces the cost of debt financing. Mechanism tests show that the role of enterprise digital transformation in reducing debt financing costs is mainly realized by reducing information asymmetry and alleviating agency problems. Further tests show that the relationship between enterprise digital transformation and debt financing cost is affected by the degree of market competition, whether it is a high-tech enterprise and audit quality. When the degree of market competition is high, the enterprise is a high-tech one, or it is audited by the four major international accounting firms, the effect of enterprise digital transformation on the reduction of debt financing cost is more significant. The method used in this paper is also applicable to the study of other economic management problems. This paper proves a positive significance of digital transformation, which is conducive to promoting the digital transformation of enterprises. Especially for those enterprises in non-high-tech industries, they should speed up the pace. At the same time, this paper has a certain guiding role for the introduction and implementation of policies to encourage digital transformation
Fiscal and redistributive impacts of the introduction of dynamic components in maternity benefits
No full textResearch background: Social security systems combine several subsystems aimed at addressing the risks of temporary or permanent loss of an individual\u27s income. The subject of the research are parametric changes of alternative public policy aimed at addressing the temporary loss of income caused by the dropout from the labour market due to childcare. The effects of public policies may be fiscally neutral from the entire system, but not from the point of view of the individual.
Purpose of the article: The purpose of this study is to examine the fiscal and redistributive effects of parametric changes in social insurance subsystem with an accent on maternity benefits in the conditions of the Slovak Republic by using a modified microsimulation model.
Methods: Using a microsimulation model, we investigate the impacts of the alternative policy setting. Microsimulation model contains four basic modules (i) macroeconomic module, (ii) demographic module simulating future population structure from 2017 to 2080 (iii) status module modelling particular attributes (characteristics), (iv) social policy module. The model is applied to maternity benefits in two scenarios in the Slovak Republic: scenario 1 ? the current legislative setting of maternity benefit policy parameters and scenario 2 ? dynamic maternity benefit.
Findings & value added: Results in the area of redistributive impacts in social insurance focused on maternity benefits show that dynamic policy parameters can positively affect work-life balance, especially for individuals with higher education. The results in the area of fiscal impacts show that the dynamic model of maternity benefits increases the efficiency of public spending and stimulates the faster return on the labour market. The results indicate the direction of possible government interventions and provide valuable information for policy makers in areas public policies that are associated with temporary labour market dropouts in the case of maternity
The use of Beneish M-scores to reveal creative accounting: evidence from Slovakia
No full textResearch background: In creative accounting, the primary goal of every enterprise is to increase and strengthen its market position. Over the years, manipulation of financial statements has also reached the territory of Central European countries, including the Slovak Republic. Therefore, an analysis was conducted to identify enterprises that handle accounting. This article focuses specifically on Sector A: agriculture, forestry, and fisheries.
Purpose of the article: The aim of the article was to reveal the creative accounting practices of a sample of enterprises operating in the Slovak business environment in a sector using the Beneish model.
Methods: The Beneish model was used to calculate the manipulation of enterprises? financial statements. Both variants, that is, the 5-parameter model and 8-parameter model, were used for the calculation. The results of these models were plotted using graphs and receiver operating characteristic (ROC) curves.
Findings & value added: Based on the use of both variants of the Beneish model, it was proven that enterprises in the analyzed sector use the possibility of manipulating financial statements. The added value of the article is the detection of the use of creative accounting in a specific sector, which makes the study original in its application and space-time orientation
The role of the One-Belt One-Road initiative in China?s exports and global value chains
No full textResearch background: China is regarded as the ?world factor? highly involved in international trade and plays an increasingly important role in the global value chains (GVC). Additionally, the ?One-Belt One-Road? (OBOR) initiative was proposed by the Chinese government to further promote China in the international market.
Purpose of the article: The article explores the role of the OBOR in China?s exports and global value chain. It aims at: 1) verifying how OBOR impacts the volume of China\u27s export and value-added export to its partners. 2) checking whether or not OBOR strengthens the industrial connection between China and its participants at the GVC level. 3) examining the different roles of corridors in China\u27s exports and GVC.
Methods: The empirical analysis is based on the augmented gravity model of international trade, which comprises China and its 197 partners in the period 2000?2018. The model is estimated for gross export as well GVC measured by domestic value added in export and the value contributed by a partner to China?s exports.
Findings & value added: In general, there is a significant positive correlation between OBOR and the volumes of China?s export, domestic value-added trade and the value of partner?s contributed in China?s export. However, some of the results are blurred by OLS and FE methods. The author points out that FE-PPML estimation methods are more adequate. Among the six economic corridors, Bangladesh-China-India-Myanmar (BCIM), China-Pakistan (CP) and China Indochina Peninsula (CIP) were proven to play a prominent role in promoting China?s export, DVA and strengthening the links of global value chains. It is worth noting that the China-Mongolia-Russian Federation (CMRF) corridor harms China\u27s export and DVA trade, and at the same time promotes countries in its region that benefit from trade with China
Earnings management model for Visegrad Group as an immanent part of creative accounting
No full textResearch background: Creative accounting practices do not frequently violate the law and are not considered illegal; however, accounting managers may exploit legal ambiguities to portray the company\u27s financial standing in accordance with management preferences. Therefore, the analysis is focused on the detection of earnings management in companies operating in the Visegrad Group, which represents one of the most commonly used techniques for revealing creative accounting.
Purpose of the article: The aim of the presented study is to reveal the presence of creative accounting through the detection of earnings management in the countries of the Visegrad Group and, based on the detected results, to propose a regression model of earnings management in the Visegrad Group.
Methods: To reveal the use of creative accounting in the Visegrad Group, ten selected models of earnings management were applied during the period 2016?2020 to a set of 8,134 companies. The Mann-Whitney test and multiple linear regression were used to verify the existence of earnings management. These findings served as the basis for the creation of the linear regression model of earnings management in the Visegrad Group.
Findings & value-added: The presence of earnings management was best captured by the Hribar and Collins model in companies operating in the Visegrad Group in the period 2016?2020. The findings also confirmed that positive discretionary accruals acquired higher values over the entire period when compared to negative discretionary accruals, confirming that companies in the surveyed group manage their profits primarily by increasing them. Therefore, we created a regression model, that can serve as a unique basis and is capable of revealing the use of earnings management in the Visegrad Group, as until now nothing like this has been implemented in these countries. In conclusion, this study offers insights for academicians and researchers on creative accounting in the selected period. Lastly, the study contributes to the existing theory by conducting new research on the earnings management determinants of the countries studied
Artificial intelligence in predicting the bankruptcy of non-financial corporations
No full textResearch background: In a modern economy, full of complexities, ensuring a business\u27 financial stability, and increasing its financial performance and competitiveness, has become especially difficult. Then, monitoring the company\u27s financial situation and predicting its future development becomes important. Assessing the financial health of business entities using various models is an important area in not only scientific research, but also business practice.
Purpose of the article: This study aims to predict the bankruptcy of companies in the engineering and automotive industries of the Slovak Republic using a multilayer neural network and logistic regression. Importantly, we develop a novel an early warning model for the Slovak engineering and automotive industries, which can be applied in countries with undeveloped capital markets.
Methods: Data on the financial ratios of 2,384 companies were used. We used a logistic regression to analyse the data for the year 2019 and designed a logistic model. Meanwhile, the data for the years 2018 and 2019 were analysed using the neural network. In the prediction model, we analysed the predictive performance of several combinations of factors based on the industry sector, use of the scaling technique, activation function, and ratio of the sample distribution to the test and training parts.
Findings & value added: The financial indicators ROS, QR, NWC/A, and PC/S reduce the likelihood of bankruptcy. Regarding the value of this work, we constructed an optimal network for the automotive and engineering industries using nine financial indicators on the input layer in combination with one hidden layer. Moreover, we developed a novel prediction model for bankruptcy using six of these indicators. Almost all sampled industries are privatised, and most companies are foreign owned. Hence, international companies as well as researchers can apply our models to understand their financial health and sustainability. Moreover, they can conduct comparative analyses of their own model with ours to reveal areas of model improvements
Digital image stabilization for the experimental verification of object motion trajectories
No full textThe article presents digital stabilization procedure of the image recorded with a camera performing unintentional spatial movement in relation to the scene. This method consists in carrying out translational and rotational transformations and scaling all frames in relation to the first one, using the tools of the Matlab environment. The image stabilization procedure allows to effectively improve the image to make it suitable for the analysis of the tracked objects trajectories on the scene, observed from the camera located on the rotor drone
Jakość informacji niefinansowych na przykładzie wybranych banków w latach 2018-2020
No full textW ostatnim czasie coraz większego znaczenia nabiera jakość raportowanych informacji. Ra-porty niefinansowe dostarczają danych, które pozwalają podmiotom gospodarczym na podejmowanie decyzji. Banki jako podmioty, które odgrywają wyjątkową rolę w gospodarce są szczególnego rodzaju przedsiębiorstwami jak i instytucjami zaufania społecznego. Dodatkowo grono interesariuszy banków jest liczne, a ich zbiorowość bardzo zróżnicowana. Dlatego tak ważny jest odpowiednio wysoki poziom jakościowy sporządzanych przez nie sprawozdań. Celem artykułu jest analiza informacji niefinansowych publikowanych przez wybrane banki w Polsce w latach 2018-2020. W tym celu dokonano analizy dokumentów prezentujących informacje niefinansowe wybranych banków funkcjonujących w Polsce. Stanowi ona podstawę oceny stosowanych przez banki praktyk dotyczących raportowania niefinansowego