Economic and Business Review (EBR)
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362 research outputs found
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Shareholders’ Pay-Out–Related Thresholds and Earnings Management
No full textWe investigate the thresholds in net shareholder pay-outs (dividends, share buy-backs and issuances) of a large sample of UK quoted firms. Discretionary accruals are analysed at these thresholds in relation to earnings management. By examining distributions and using a robust test for discontinuities, we show the existence of thresholds at zero bins of variables in question. Additionally, by looking at differences in means and medians of discretionary accruals in sorted distributions, we find that they are statistically different from bin to bin in vicinity of previously identified thresholds
Fit Gap Analysis – The Role of Business Process Reference Models
No full textEnterprise resource planning (ERP) systems support solutions for standard business processes such as financial, sales, procurement and warehouse. In order to improve the understandability and efficiency of their implementation, ERP vendors have introduced reference models that describe the processes and underlying structure of an ERP system. To select and successfully implement an ERP system, the capabilities of that system have to be compared with a company’s business needs. Based on a comparison, all of the fits and gaps must be identified and further analysed. This step usually forms part of ERP implementation methodologies and is called fit gap analysis. The paper theoretically overviews methods for applying reference models and describes fit gap analysis processes in detail. The paper’s first contribution is its presentation of a fit gap analysis using standard business process modelling notation. The second contribution is the demonstration of a process-based comparison approach between a supply chain process and an ERP system process reference model. In addition to its theoretical contributions, the results can also be practically applied to projects involving the selection and implementation of ERP systems
Investment Shocks: A Source of Fluctuations in a Small Open Economy
No full textThis paper contributes to the existing Real Business Cycle (RBC) literature by introducing Marginal Efficiency of Investment (MEI) shocks into small open economic model. Investment shocks are the most important drivers of business cycle fluctuations in small open economy because the fluctuations in all the macroeconomic variables showed a significant response to MEI shocks than productivity shocks. The anticipation of pro-cyclical behavior of the external accounts when the model was augmented with the form of share of consumption in the household utility function, μ, and an appealing, but complex, concave adjustment cost function becomes a standpoint that differentiates this study from other investment shocks literatures. The pattern of the rise in investment in both shocks explains why investment shocks is so important in times of recession and it reveals the main source of fluctuations in a small open economy
Perceived Risk Influence on the Consumer Attitude to Private Labels in the Product’s Life Cycle Growth Stage
No full textThe aim of this paper is to explore the relationship between purchasing risk associated with private labels and consumer attitudes towards private labels in different product categories in the growth stage of the product life cycle. The first part of the paper is devoted to a brief literature review of the relevant constructs. The second part describes the research and summarizes its results. Descriptive research was conducted on the Croatian market relating to private labels in three different product categories in the growth stage of the product life cycle: liquid soap, chocolate and facial care products. The results confirm negative correlation between perceived risk and attitudes towards private labels in all analysed categories
Open Innovation in Slovenia: A Comparative Analysis of Different Firm Sizes
No full textThis article investigates the state of open innovation in Slovenia, using qualitative and quantitative research. Based on in-depth interviews with domestic and foreign experts in the field of open innovation, we identify the main advantages and reasons open innovation should be introduced in Slovenian companies, the main barriers that companies can encounter in the implementation of open innovation and suggestions for the successful development and implementation of the concept among Slovenian companies. A quantitative analysis of Slovenian companies shows that differences exist in implementing open innovation dimensions among micro, small, medium and large firms, as well as between manufacturing and service companies. We conclude by suggesting the steps to be taken to stimulate the development and implementation of open innovation in Slovenian companies, the implications for managers and policy-makers, as well as the limitations of our study, and future research
Stability of Money Demand Function in Pakistan
No full textThe role, which money demand function plays in monetary policy formulation has attracted a lot of research studies to analyze this macroeconomic phenomenon. In the wake of current global and local economic and political upheavals, it is imperative to revisit the stability of money demand function. The study used the time series data and applied latest econometric techniques to find out the long run and short run money demand relationship. Moreover, all the three official monetary aggregates were used for finding out the most stable monetary demand relationship, which could provide correct signals for monetary policy formulation. The study found that broader monetary aggregate (M2) was the proper aggregate, which provided stable money demand function for Pakistan. The real GDP was positively related to the demand for real balances, while opportunity cost of money was negatively related. The study found that the role of financial innovation, in explaining the demand for money warrants attention in formulating monetary policy
The Question of Instability, Uncompetitiveness and Growth Slowdown of Small Middle –Income Countries in the Euro Area
No full textThe thesis of this article is that a small country with a below-average per capita income is in a disadvantaged macroeconomic position inside the euro area. Small middle-income countries expected an acceleration of growth by joining the EMU. They were hoping to catch up in the convergence process within the euro area. Yet things turned out differently. The crisis in 2009–2012 has led to excessive instability due to exogenous macroeconomic prices and the lack of a lender of last resort for sovereign debtors. Small MICs are more vulnerable to asymmetric shocks from abroad due to the ‘one-size-fits-all’ economic policy at the EMU level. This is reflected in the excessive volatility of real economic variables (such as GDP and unemployment), and excessive financial instability (such as indebtedness) and sovereign debt. The crisis also revealed weak price competitiveness of exports due to overvalued exchange rate of the euro and overall under-average productivity of the MICs. MICs had to respond with deflationary internal (surrogate) devaluations and depressed aggregate demand. Measures of internal surrogate devaluations may partially improve situation in the medium term, yet they may worsen the competitive growth situation in the long run. A macroeconomic environment of macroeconomic instability and weak competitiveness may trigger a slowdown in growth
Raziskovalna produktivnost in ustvarjanje znanja v slovenskih ekonomsko-poslovnih šolah
No full textThe article analyses research productivity and knowledge creation at three leading Slovenian business schools in the period from 2000 to 2011. Research productivity, content and quality of new knowledge created are measured using the bibliometric method, and research productivity is also compared between schools and between individual researchers. The main findings of the study are: (1) research productivity over the period studied tends to increase, (2) much of the knowledge created is not in the field of economics and business, (3) the quality of new knowledge created is relatively low, and the creation of cutting-edge knowledge is low, (4) research productivity does not differ significantly between schools, while (5) there are large differences in research productivity between individual researchers
Model menjav na podlagi odnosov izvoznik – uvoznik in izvozna uspešnost
No full textThis article focuses on examining the literature dealing with export performance based on exchange relationships. It covers the factors characteristic of the international environment and the interpersonal relationship between exporter and importer. The aim of the study is to propose a model of exchange based on relationships intended for the empirical study of business exchange relationships in the international environment. We assume a two-way exchange mechanism, emphasise behavioural norms and form a relationship-based exchange mechanism (flexibility - trust). The model is complemented by structural delineations of the constructs of psychological distance and opportunism
Can information technology be a source of competitive advantage?
No full textIt is still difficult to judge the effect of IT on business performance and competitiveness. Many scholars has sought to contribute by showing the impact of IT on firm performance, and emphasized its potential in creating a sustainable competitive advantage. A brief overview of the literature indicates that many perspectives have emerged, mainly due to different understandings and uses of approaches, methodologies and terminologies. This paper attempts to ascertain if IT can be a source of competitive advantage. We argue that IT can be a source of competitive advantage just like any other resource/capability can be. We suggest that the first step in further research is to clarify the terminology since it represents the foundation for building a coherent framework and the second is to look from the practitioner’s point of view to ensure greater understanding and usefulness for practitioners