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GVC and wage dispersion. Firm-level evidence from employee?employer database
No full textResearch background: Wage inequalities are still part of an interesting policy-oriented research area. Given the developments in international trade models (heterogeneity of firms) and increasing availability of micro-level data, more and more attention is paid to wage differences observed within and be-tween firms.
Purpose of the article: The aim of the paper is to address the research gap concerning limited cross-country evidence on a nexus of wage inequality?global value chains (GVCs), analysed from the perspective of wage inequality components within and between firms.
Methods: This paper uses a large employee?employer database derived from the European Structure of Earnings Survey (SES), combined with sector-level indicators of GVC involvement based on the World Input-Output Database (WIOD). As a result, a rich database covering more than 7.5 million observations is created. The regression-based decomposition modelling technique developed by Fiorio and Jenkins (2010) is used to identify the contributions of different factors to wage inequalities, focusing on the components within and between firms.
Findings & value added: The analysis presented in this paper aimed to show the contribution of GVC involvement, among various other factors, to the observed inequality of wages. Due to the use of a rich database that merges employer and employee data, the effects materialised with respect to different types of wages could be analysed separately, in particular components between and within firms. The general conclusion from the regression-based decomposition in log wages is that GVCs contribute marginally to the observed wage inequality in the European sample analysed in this paper. Some differences confronting the components within and between firms (the latter dominates) are observed; there is also certain intra sample heterogeneity in the estimated results (e.g. due to sector type or country group), but the general result is robust
Does the real estate market behavior predict the trust crisis in the financial sector? The case of the ECB and the Euro
No full textResearch background: Based on the history of financial crises, real estate market behavior could be thought of as a key benchmark of trust shifts in the financial sector of the economy. Plunging real estate asset prices accompanied by the financial "bubbles" explosion could be viewed as the harbinger ? even the cause ? of the public trust crash in the financial sector.
Purpose of the article: This study intends to assess the extent to which the real estate market behavior determinants, along with financial sector consumers\u27 feelings, are able to predict trust crises in the financial sector, namely to its primary institutions ? European Central Bank and the Euro.
Methods: In order to estimate the probability of a trust crisis in the financial sector, two logistic regression logit models were developed based on two types of dependent variables as they reflect trust violations in the financial system primary institutions ? net trust in European Central Bank (Model I) and net support for the Euro (Model II). The research was conducted on quarterly panel data of the EU countries from the euro area covering the period from 2000 to 2019. Logit regressions employed for data processing and analysis were performed in the computational system STATISTICA.
Findings & value added: The logit-modeling results show that determinants of irrational real estate buyers\u27 behavior are powerless in predicting the escalation of the trust crisis in the Euro. However, binary models of real estate market behavior could be successfully used to predict the probability of the trust crisis in the European Central Bank. The results show that real house price indices, price to income ratio, price to rent ratio, and rent prices accompanied by the financial sector consumers\u27 feelings are statistically significant, providing the best distribution between the normal times and periods of trust crisis in the European Central Bank. Irrational real estate market behavior may indicate serious problems in the trust violations in the European Central Bank, and it should be a signal for policymakers to take actions towards more efficient financial and real estate market regulation following the behavioral approach
Operations of Deutsche Börse and the role of the German stock exchange in relation to several European stock exchanges
No full textThis article analyzes the operation of the German stock exchange on the basis of applicable national regulations, directives of the European Parliament and the adopted manner of operation of the entity in accordance with the information contained on the official website of the stock exchange. The following part of the article presents a comparative analysis of fifteen European stock exchanges. The comparative criterion was the achieved results concerning the offered financial instruments. The study was conducted on the basis of data from the Federation of European Stock Exchanges covering the state at the end of January 2021
The Effect of Indirect Taxes on the State Budget Revenue
No full textTaxes are among the key economic instruments by means of which the state fulfils its functions in the economy. Depending on the relation of an object of taxation to a source of tax, two tax types are distinguished: direct taxes, where the nominal (formal) and real taxpayers are clearly identical, and indirect taxes, where such identity is not present, i.e., a formal source of a tax is not the same as its real source. This paper intends to discuss the fiscal significance of indirect taxes to the state budget. The analysis implies the indirect taxes generate high budget receipts not only at times of economic growth but also during economic crises. In 2016-2020, indirect taxation accounted for the largest proportion (an average of 70%) of all the state budget?s tax revenue. A dominant status of the value added tax among the overall income of the state budget could be noted as well. It constituted 44% of the total income on average at the time. In addition, the results of a correlation matrix show a strong link between the state budget revenue and indirect taxes. A statistical analysis affirms the research hypothesis that indirect taxation has a considerable impact on the state budget?s revenue
The relationship of marketing communication and customer behaviour in the online store industry
Get PDFMotivation: The article fills a crucial gap in the literature in the realm of investigating and understanding customer behaviour in the digital environment. Research in the field of ever-shifting digital marketing communication is fundamental.
Aim: The key purpose of the research paper is to investigate the relationship between the frequency of seeing marketing messages by respondents and their market behaviour.
Materials and methods: Various approaches to online marketing communication and descriptions of consumer behaviour were analysed in the theoretical framework of the article. The goal mentioned above was achieved through the survey conducted in 2020 on the sample of 461 respondents who had access to the Internet. Data were collected using a Google Form, and then the empirical data were analysed using Spearman?s correlation coefficient in Microsoft Excel application. The research involved observing the online marketing communication carried out by the surveyed entities in addition to mentioned methods.
Results: The findings prove that the frequency of seeing marketing content by respondents has an impact on the Spontaneous Brand Awareness Rate, the Aided Brand Awareness Rate, the frequency of store website visits, the propensity to repurchase, and online store reviews. There is a strong relationship between the quantity and the variety of online marketing messages broadcasted by an online store and the engagement of customers in the digital activity of the online store. The research will help entrepreneurs develop future online marketing communication strategies and indicate the development of online communication toolkits. The research paper confirms the importance of maintaining a relationship with customers who shop online
Influence of the organisational and legal changes in the Municipal Sports and Recreation Centre on effectiveness of the provided services
No full textThe author of the article makes the research hypothesis that the local governments should join the restructuration programs of the municipal companies with more engagement because there are too less changes which would allow more efficient, cheaper and more competitive their management. Privatization is one of the restructuration methods recommended by the local governments which already have executed it. These are the actions which many local governments needlessly refrain and postpone them in time being afraid of sizes and scale of the changes in a company after their implementation. The local communities lose on such proceeding as they are forced to use expensive low-quality services. The purpose of the article is evaluation whether the change of the organisational and legal form from the budget unit to the limited liability company is effective. There will be used analysis of literature studies and source data concerning the Municipal Sports and Recreation Centre limited liability company in Radom to solve the created research problem. Results of the conducted research were included in the summary in points from 1 to 9, which prove that the assumed research?s goal in the article?s introduction has been achieved. 
Two component modified Lilliefors test for normality
No full textResearch background: Commonly known and used parametric tests e.g. Student, Behrens? Fisher, Snedecor, Bartlett, Cochran, Hartley tests are applicable when there is an evidence that samples come from the Normal general population. What makes things worse is that testers are not fully aware in what degree of abnormality distorts results of parametric tests listed above and suchlike. So, it is no exaggeration to say that testing for normality (goodness-of-fit testing, GoFT) is a gate to proper parametric statistical reasoning. It seems that the gate opens too easily. In other words, most popular goodness-of-fit tests are weaker than statisticians want them to be.
Purpose of the article: The main purpose of this paper is to put forward the GoFT that is, in particular circumstances, more powerful than GoFTs used until now. The other goals are to define a similarity measure between an alternative distribution and the normal one and to calculate the power of normality tests for a big set of alternatives. And, of course, to interest statisticians in using the GoFTs in their practice.
Method: There are two ways to make GoFT more powerful: extensive and intensive one. The extensive method consists in drawing large samples. The intensive method consists in extracting more information from mall samples. In order to make the test method intensive, the test statistics, as distinct from all existing GoFTs, has two components. The first component (denoted by ?) is a classic Kolmogorov / Lilliefors test statistics i.e. the greatest absolute difference between theoretical and empirical cumulative distribution functions. The second component is the order statistics (r) at which the ?_max^((r) ) locate itself. Of course ?_max^((r) ) is the conditional random variable with (r) being the condition. Large scale Monte Carlo simulations provided data sufficient to in-depth study of properties of distributions of ?_max^((r) ) random variable.
Findings & value-added: Simulation study shows that the Two Component Modified Lilliefors test for normality is the most powerful for some type of alternatives, especially for the symmetrical, unimodal and bimodal distributions with positive excess kurtosis, for symmetrical and unimodal distributions with negative excess kurtosis and small sample sizes. Due to the values of skewness and excess kurtosis, and the defined similarity measure between the ND and an alternative, alternative distributions are close to the normal distribution. Numerous examples of real data show the usefulness of the proposed GoFT
EU framework programmes: positive and negative effects on member states\u27 innovation performance
No full textResearch background: Seeking to ensure competitiveness in the global market, the EU is constantly improving its innovation policy. Compared to other EU initiatives, the Framework Programs for Research and Innovation (FPs) act as the main instrument with the longest history and the largest budget to boost member states\u27 innovation performance. Despite the initial presumptions that these financial inflows should bring positive and constructive effects, the results significantly diverge across the countries with highly uneven and incoherent progress. Therefore, complex and reliable tools must be adopted to evaluate the long-term influence of EU investment and the reasons which distort the innovation performance in separate member states.
Purpose of the article: The purpose of this article is to evaluate the influence of EU investment on its member states? innovation performance by using a redeveloped national innovative capacity framework and including technological, non-technological and commercial innovative output.
Methods: Panel unit root tests were used to assess the time series stationarity. Autoregressive distributed lag models helped in calculating the long-term influence of EU investment on member states? innovation performance. Finally, by employing dummies, it was analysed how this influence varied over time and across different countries.
Findings & value added: The findings provide evidence that EU investment exerts positive long-term influence on the technological innovative output proxied as total, business and higher education institutions? patent applications, as well as product and process innovations. The effects were also positive on trademarks and marketing, and organisational innovations. However, small but negative influence was found in the case of patent applications by the government sector and the exports of hi-tech products and knowledge-intensive services. These insights may serve in the designing process of the specific instruments and the future innovation policies, which would bring the maximum benefit for the society and economy
Comparison of changes in the labour markets of post-communist countries with other EU member states
No full textstrengthen their international competitiveness. This was linked to the implementation of institutional and economic reforms, significant technological changes and improvements in the quality of human capital, as well as fiscal stabilisation policies. These changes affected their situation in the labour market.
Purpose of the article: The aim of the study is to assess changes in the situation in the labour market in the EU with particular emphasis on the post-communist countries in the period 2002? 2019.
Methods: The situation of countries in the European labour market was estimated using the TOPSIS method. A similarity matrix of changes in the composite variable for each country was then constructed using the Dynamic Time Warping method. On its basis, homogeneous clusters of countries were determined using the Ward?s method.
Findings & value added: Four homogenous clusters of countries were formed. The post-communist ones belonged to two groups. In one, there were two countries ? Croatia and Slovakia. The rest of the post-communist countries were in a large cluster, which also included Germany, Malta, Finland, Portugal, France and Belgium. Changes of the situation in the post-communist countries in this group improved very much during the analysed period (this was particularly evident for Czechia, Estonia and Poland). It is interesting to investigate whether the reaction of labour markets to changes in the global economic situation in post-communist countries is similar to that in the old EU countries. The similarity of changes can be measured using the DTW method. There is an empirical research gap in this respect. Therefore, the added value is the use of this method in assessing similarities of changes in the labour market situation in post-communist countries in comparison to the Western European ones