Economic Publishing Platform
Not a member yet
2446 research outputs found
Sort by
SoLoMo marketing as a global tool for enhancing awareness of eco-innovations in Slovak business environment
No full textResearch background: Thanks to globalization, a number of new possibilities and available technological solutions have emerged, thus modernizing marketing communication activities and bringing a broad spectrum of business opportunities to the single European market which enterprises may use to their benefits. Changes are much more frequent than ever before. Therefore, it is important to search for innovative solutions which contribute to more effective fulfillment of goals, generate positive changes or increase value for customers and as a matter of fact, enhance innovative performance and business competitiveness.
Purpose of the article: The paper deals with the presentation of eco-innovations in the business environment using creative tools of online marketing communication. Eco-innovations are a phenomenon which is present across all business activities and processes including marketing communication. The authors study such marketing activities of businesses which are part of corporate social responsibility, generate business growth and finally help to improve the global environment. The authors also present the partial results of their own quantitative marketing research in order to describe the application of SoLoMo marketing tools in the presentation of eco-innovations in the Slovak business environment.
Methods: The authors prepared a standardized questionnaire on a sample of 300 Slovak businesses. To test the dependence or independence of the variables, a Chi-squared test and Fisher´s exact test were used.
Findings & Value added: Despite the generally growing trend of the use of mod-ern online marketing tools, the research showed that Slovak businesses do not inform sufficiently about their eco-innovation activities, do not address all prospective target groups and do not make enough effort to enhance environmental awareness of the wider public. The results of the research will serve as basic information for the following specific studies, the main aim of which is to spread awareness among consumers and to eventually provide them with practical recommendations. In addition, the given theoretical part of the paper represents a valuable summary of information about the modern SoLoMo marketing concept while providing a detailed overview of other relevant research studies in the given field. Therefore, the paper portrays an overview of opportunities for the implementation of digital tools of marketing communication in small, medium-sized and large enterprises
Resistance of commercial banks to the crisis caused by the COVID-19 pandemic: the case of Poland
No full textResearch background: The analysis allows to assess the impact of the industry structure of the credit portfolio on the resistance of commercial banks to the crisis resulting from the COVID-19 pandemic. It uses two independent methods to measure the impact of the pandemic on industry risk and the methodology allowing to prioritize industries in terms of potential negative effects of the crisis.
Purpose of the article: The aim of the research is to assess the resilience of commercial banks operating in the Polish banking sector to the potential effects caused by the COVID-19 pandemic. The diagnostic features of 13 commercial banks were selected for its implementation.
Methods: Two linear ordering methods were used, namely the Hellwig method and the TOPSIS method. The following were used as the criteria for parametric assessment of the resilience of commercial banks: capital adequacy, liquidity level, profitability of business activity, share in the portfolio of exposures with recognized impairment and the resilience of the bank\u27s credit portfolio to the risk resulting from the exposure in economic sectors. These sectors were classified according to the level of risk associated with the effects of the crisis caused by the COVID-19 pandemic.
Findings & Value added: The study allows to conclude that the largest banks conducting their operations in Poland are the most resistant ones to the consequences of the pandemic. At the same time, the banks most vulnerable due to the crisis were identified. The conclusions can be used, inter alia, in the process of managing the financial system stability risk and contribute to the discussion on the impact of the pandemic on the condition of commercial banks in emerging markets
Estimation of the price elasticity of petroleum products? consumption in Ukraine
No full textResearch background: The analysts of the petroleum product markets of industrial countries believe that the elasticity of demand varies at different periods, which gave rise to the hypothesis that behavioral and structural factors have changed the consumers? reaction during the last few decades, with a change in prices of petroleum products.
Purpose of the article: The purpose of this article is to study the elasticity of demand and prices in order to identify changes in consumer behavior in the oil market after significant socio-economic shocks and to establish a correlation between changes in elasticity and price volatility, with the Ukrainian petroleum products market as an illustrative example.
Methods: Based on the time series of the petroleum product market of Ukraine, static and dynamic models for assessing the demand elasticity were constructed. It was found that the time series of demand for petroleum products is non-stationary but then the time series of the first differences is stationary according to the extended Dickey-Fuller test; further, the fact of co-integration between time series of consumption, income, and prices was established by the Johansson test. This made it possible to construct co-integration dependence, allowing, in turn, the development of models for assessing the elasticity of demand for petroleum products, on the basis of which objective assessments of changes in consumer behavior were established. Analysis of the monthly calculation of petroleum products? price volatility during the period 2008 to 2018 has showed that the values of volatility increased abnormally in the period between the beginning of 2014 and the middle of 2015. The estimates of price and demand elasticities obtained for the two periods up to the beginning of 2014 and the second half of 2015 differ significantly from the values of the corresponding elasticities between the beginning of 2014 and the middle of 2015.
Findings & Value added: Assessments of income elasticities and price elasticities for petroleum products in the Ukrainian market were obtained by three co-integration models, both short and long term, for each of the three previously defined time intervals. In one of them, characterized by a high level of price volatility conditionally referred to as a crisis, the value of elasticities differed markedly from the corresponding values in the other two periods, in particular, -0.383 for price elasticity and 1.068 for a long-term bond. In the other two periods, these were, respectively, 0.543 for price elasticity and 0.274 for long-term pre-crisis elasticity, and -0.470 for price elasticity and 0.235 for long-term post-crisis elasticity. Appropriate elasticity estimates were obtained for both the short-run and the dynamic model, for the same defined intervals. A comparison of these estimates showed the closeness of the values of elasticities for the pre-crisis and post-crisis intervals and a marked difference from the estimates of the elasticities in the crisis interval. Thus, it was found that a significant change in elasticities is accompanied by an increase in price volatility
Oil price and the economic activity in GCC countries: evidence from quantile regression
No full textResearch background: The effects of oil price fluctuations on the macroeconomic performance in oil-importing and oil-exporting countries have stimulated considerable research activity. However, the debate is far from being closed.
Purpose of the article: This paper revisits the impact of crude oil price on economic activity in the Gulf Cooperation Council oil-exporting countries. The study covers a relatively long period spanning from 1960 to 2018.
Methods: The empirical investigation accounts for structural breaks, nonlinearity, and non-normal ?distribution of data. The Kapetanios (2005) structural breaks unit root test?? and ?Saikkonen?Lütkepohl (2000a, b, c) cointegration test with structural shifts are implemented to examine the stationary properties of data and the presence of cointegration between variables, respectively. Moreover, the quantile regression is employed to assess whether the impact of oil price on real GDP differs across different states of the economy.
Findings & Value added: Empirical results suggest the absence of long-run cointegrating relationships between oil price and GDP in all countries. The quantile regression reveals that oil price does not affect real GDP in the same way across countries and for different business cycle phases. More specifically, the symmetric quantile regression findings reveal that oil price exerts a positive impact on GDP in all countries and that the effect is higher during the recession than expansion states. The asymmetric quantile regression shows that GDP reacts to positive oil price changes in all countries. However, only the Emirati and Omani GDPs are affected by negative oil price changes
Degree of monopoly and market power vs. price flexibility in Polish economy: empirical analysis based on COICOP classification
No full textResearch background: The issue of price flexibility is crucial in the economy both in the aspect of company theory and its macroeconomic consequences. In a number of publications, the sources of variable price flexibility are linked to the market power of enterprises as well as the market structure that has developed in a given branch. It is difficult to indicate empirical studies that would state clearly whether price flexibility depends on the degree of monopoly or the market power of enterprises. This paper concerns that particular field of study.
Purpose of the article: The purpose of the paper is to present the statistical dependence of the degree of monopoly and market power vs. price flexibility in the economy.
Methods: The analysis has been conducted using aggregated data concerning Polish economy in the period from 2001 to 2013, based on COICOP. The degree of monopoly indicator was the average number of companies in a given branch, following the classical models of market structures; the market power indicator was the average net revenue from sales of products per enterprise representing a given branch; the measure of price flexibility was the probability of price variation estimated using the Calvo pricing model. It is, therefore, a frequency-based approach to price flexibility. Statistical dependence was analyzed using the Spearman\u27s rank and Kendall?s tau correlation coefficient and simple regression models.
Findings & Value added: The outcomes indicate that in the case of Poland in the analyzed period there is no statistically significant relation between the degree of monopoly and price flexibility and also between the market power and price flexibility. Thus, the findings of the analysis support the studies which reject the assumption that higher degree of monopoly or higher market power of an enterprise is followed by less flexible prices
Analysis of modern methods for increasing and managing the financial prosperity of businesses in the context of performance: a case study of the tourism sector in Slovakia
No full textResearch background: In the context of constantly changing business environment, the financial sector is focusing on new trends in financial management systems. Nowadays, there is a need to achieve long-term financial growth, so financial managers try to develop new models for managing and improving the financial performance of businesses in economic practice.
Purpose of the article: This article aims to determine the financial performance of travel agencies by applying modern business performance evaluation methods in order to create a performance portfolio (ranking) for the years 2013?2017, subsequently to reveal the concordance rate of order of the selected business entities by comparing applied financial methods in the context of performance benchmarking. The research question is as follows: Does the multidimensional PCA method in the form of the performance portfolio of travel agencies provide similar financial results compared to the EVA indicator?
Methods: For measuring the financial performance of businesses, the method of Principal Component Analysis (PCA) and the indicator Economic Value Added (EVA) were chosen. Spearman?s rank-order correlation was applied in order to reveal the concordance rate of the analyzed travel agencies.
Findings & Value added: The results indicate that by applying the PCA method, 6 key performance factors can be identified. Moreover, the findings revealed that the assessment of travel agencies using the PCA method and EVA indicator did not lead to the same financial results. Individual financial methods identified a different number of strong-performing and inefficient business entities. In this backdrop, we concluded that the business performance measurement based on the PCA method is not a suitable alternative to measuring performance using the EVA indicator
Institutionalism in a nutshell [Review of the book Ekonomia instytucjonalna: zarys teorii i jej wymiar praktyczny, by K. Bentkowska]
Get PDFReview of the book: Bentkowska, K. (2020), Ekonomia instytucjonalna: zarys teorii i jej wymiar praktyczny. Oficyna Wydawnicza SGH. ISBN: 978-83-8030-359-1. pp. 30
Road traffic modelling based on the hybrid modelling tool AnyLogic
No full textThe increasing complexity of modelled systems opens up questions of combining several modelling approaches in order to achieve higher efficiency and the required clarity of the simulations performed. For this reason, in addition to standard application-oriented modelling tools, we can see the growing popularity of the so-called hybrid or multimethod modelling approaches. A typical representative of such a modelling environment is the AnyLogic general-purpose modelling tool. This article describes the authors\u27 experience with this tool in solving a selected problem in the field of modelling transport processes in urban areas. Using the example of the uncontrolled selected intersection, the procedure of creating a model with a more detailed analysis of its selected parts is discussed. The model based on real conditions is elaborated and compared with the model containing the fictitious traffic light control. Comparison is based on measuring the time that vehicles moving in the critical direction spend in the model. Both discussed models are stored in the cloud and may be run and study free
Zjawisko drenażu mózgów w Polsce
Get PDFMotywacja: Swobodny przepływ pracowników, szczególnie w wieku produkcyjnym, przejawia się migracją związaną głównie oddziaływaniem na przebieg karier zawodowych. Opuszczanie danego terenu przez wysoko wykwalifikowaną kadrę nazywany jest drenażem mózgów. Obserwowany w Polsce, osłabia gospodarkę oraz budzi coraz większy niepokój ze względu na fakt odpływu młodych, wykwalifikowanych osób.
Cel: Celem artykułu jest zdefiniowanie skali zjawiska drenażu mózgów z uwzględnieniem jego przyczyn na podstawie wybranych definicji.
Materiały i metody: Wykorzystano krytyczną analizę źródeł wtórnych, a także literatury podmiotu. Materiał empiryczny stanowią dane Głównego Urzędu Statystycznego oraz Centrum Badania Opinii Społecznej.
Wyniki: Na podstawie przeprowadzonej analizy można uznać, że problem drenażu mózgów jest ciągle aktualny w gospodarce, a z czasem może narastać. Jego intensywność obserwowana jest głównie na wschodzie i południu Unii Europejskiej (UE), gdzie państwa odznaczają się najmniejszą zdolnością do zatrzymywania talentów. W Polsce odnotowano największą mobilność wykwalifikowanej kadry na terenie UE
Economic policy for development and the new institutional economics
Get PDFMotivation: Economists have increasingly emphasized the importance of institutions as a fundamental factor for economic development. However, too frequently institutional approach used in economics is simplified, both from the starting point in defining an institution and during the analysis itself.
Aim: The aim of this article is to summarise the current state of knowledge on the use of the institutional perspective in the research on the economic development of developing countries.
Materials and methods: The analysis is conducted from the perspective of the new institutional economics. The article uses the qualitative analysis method that includes a literature review and descriptive analysis.
Results: The first part briefly describes the contribution of the new institutional economics to the research on the economic development. The second part demonstrates how the institutional perspective is used in the mainstream economics, while the third, how it is used in the development economics. Although the contribution of the new institutional economics to the development theory is significant, in practice, it is very difficult to provide clear guidelines for development policy. This is the reason why there is a huge difference between researching economic development in the spirit of the new institutional economics and how institutions are implemented in the mainstream and development economics