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BRICS-T ÜLKELERİNDE DOĞRUDAN VE DOLAYLI YATIRIMLARIN EKONOMİK BÜYÜMEYE ETKİSİ

Author(s): Ahmet Kamacı,Ahmad Saber Raz Mohammad / Language(s): Turkish Issue: 2/2020

Capital transfers accelerating with globalization come to countries in the form of direct and indirect investments. These incoming investments revived the economies of the country and increased production and national income. BRICS countries, which attract the attention of all countries of the world with their serious growth rates, are successful actors of emerging market economies. Especially in 2050, the estimation that BRIC countries, together with the USA and Japan, will form the G-6 has accelerated the studies on these countries. The purpose of this study is to examine the effects of direct and indirect investments on economic growth in BRICS-T countries. Since the cross-sectional dependency was determined in the data for the period 1999-2018, the stationarity of the series was tested with the 2nd generation panel unit root tests. By applying ARDL model to series that are stationary in different degrees, the short and long-term relationship between the variables is tested. According to the ARDL model results, the short-term coefficients are insignificant. In the long run, 1 unit increase in direct investments will increase economic growth by 1,164 units; 1 unit increase in indirect investments increases economic growth by 0.172 units.

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ARTIFICIAL INTELLIGENCE ADOPTION AND EMPLOYEE PERFORMANCE IN THE NIGERIAN BANKING INDUSTRY

Author(s): Ayobami Folarin Elegunde,Reuben O. Osagie / Language(s): English Issue: 8/2020

The study examined Artificial Intelligence and Employee Performance in the Nigerian Banking Industry, Lagos Nigeria as a study to generalize results. The objective of this study was to examine the complementability of AI to work processes and to know if it eases employee operations in banks in Nigeria. Cross-sectional descriptive research design was adopted by the researcher. Primary data was to elicit information for this study. The population of the study was the entire employees of six (6) selected banks operating in Lagos State, Nigeria, which totaled 127 staff. The study adopted Taro Yamane (1967) sample size determinant to arrive at a sample size of 98 elements. 98 copies of questionnaires were administered to respondents of six banks in Lagos State, Nigeria, which was divided using simple proportion and ratio among the six banks, 98 respondents were used for data analysis. Content validity was adopted for this study. Reliability test was conducted using Cronbach Alpha and it returned 0.773 showing internal consistency of research instrument. Descriptive statistics such as mean, simple percentage was used to analyze the demography of respondents while regression and Pearson correlation coefficients were used to analyze data. The findings revealed that Artificial Intelligence complements work process in banks in Nigeria and that machine-aided tasks ease operations in banks in Nigeria. The study recommended the adoption of AI by not only banks but all other firms in the service industry; the need for all employees and people to be educated on the importance of embracing AI; the upgrading of school curriculum at all levels in developing and third world economies to incorporate AI and its accompanying gadgets.

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Витрати в системі планування маркетингу на підприємстві

Author(s): Valentyn Korinyev,Sergiy Romanchuk,Svitlana Boiko / Language(s): Ukrainian Issue: 5 (38)/2020

The problem of planning of marketing activity of domestic enterprises is defined and its features are investigated. An algorithm for the process of planning marketing activities according to the results of this study is proposed. The role of costs from the point of view of pricing at marketing planning is specified.It is established that the key to the success of the enterprise in modern conditions is the planning of its marketing activities, taking into account the peculiarities of the micro and macro environment. It is important for the company to pay attention to reducing marketing risks by reducing the uncertainty of operating conditions and concentration of resources in the most promising areas. Therefore, the company tries to reduce the level of risk in both long-term and short-term, developing and implementing strategic and tactical planning measures.Considerable attention should be paid to the level of costs for production and sales. This will achieve the goals set by the company and will improve the sales of the company's products and increase its profits. It is advisable to conduct a SWOT-analysis of the strengths and weaknesses of the enterprise and apply a matrix of varieties of its strategic business units.In all areas and at all levels of planning the marketing activities of the enterprise requires the preparation and streamlining of decisions about the goals, means and measures that should ensure the production and sale of products that meet existing demand and future consumer needs.With such marketing planning, this will allow the company to decide on its pricing policy in order not to lose old and attract new customers, which will achieve production efficiency and product competitiveness.

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Специфіка функціонування підприємств аграрного сектору у контексті соціально-економічного розвитку України

Author(s): Maryna Polenkova / Language(s): Ukrainian Issue: 5 (38)/2020

The article substantiates the important role of agriculture in the economic system of Ukraine. The key tendencies of functioning of the enterprises of the agrarian sector of Ukraine are revealed. The dynamics of agricultural production volumes is studied. The sequence of application of the method of multifactor dynamic regression modeling is outlined. The study calculated the impact of the functioning of agricultural enterprises on the index of agricultural production.Improving the competitiveness of the national agricultural sector involves the sustainable operation of all its interconnected subsystems: agro-industrial production; food markets; sale, distribution and consumption of food; personnel, financial, logistical, technological, informational and scientific support. However, in modern conditions, the functioning of agricultural enterprises is accompanied by a number of problematic aspects, which significantly hinders their long-term development. In the context of European integration there is an objective need to form effective mechanisms to strengthen the competitive position of Ukrainian.The agricultural sector plays a strategic role in the socio-economic development of the country. The increase in agricultural production and the growth of per capita income of the rural population together with industrialization and urbanization lead to an increase in demand for industrial production. According to the results of the calculations based on the balance cross-section regression, the indicators of functioning of agricultural enterprises that have the greatest impact on the index of agricultural production are identified. According to the results of the analysis, the greatest influence among the studied indicators on the index of agricultural production is noted: the volume of production of roots, tubers, crops of vegetables and melons by food farms of all categories; volumes of production of technical crops by enterprises; costs of enterprises for fuel and lubricants. Significant positive impact is also exerted by the area from which enterprises harvested cereals and legumes and the yield of cereals and legumes at enterprises.

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EMPLOYABILITY UNDER THE FOURTH INDUSTRIAL REVOLUTION

Author(s): Alexandrina M. Pauceanu,Nada Rabie,Ayman Moustafa / Language(s): English Issue: 3/2020

It is expected that the fourth industrial revolution will have a massive impact on individual career future experience by changing the basis of work, employment, and business in the upcoming future. Moreover, one-third of today’s jobs will disappear by 2025 due to technology’s intelligence development. Thus, students’ employability skills are considered an effective tool to sustain employment at the future labour market. However, there are discrepancies in employability skills vision between higher education students’ perspectives and those of employers. This study aims to recognize higher education students’ perspectives about employability skills and to compare them with the labour market employability skills as requested by employers. A questionnaire was designed to test graduate students’ perspectives on employability using the WEF 2020 employability skills. The results show that students are not fully aware of the fourth industrial revolution employability skills, thus, there is a gap between future labour market demand and students’ perspectives about future employability skills. This study is testing employability in its two aspects. Firstly, the UAE graduate students’ perspective of the employability skills as required by employers. Secondly, testing students’ evaluation of the university educational programs’ readiness in preparing them for the job market.

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CONSTRUCTION AND VALIDATION OF WORKPLACE IDENTITY SCALE (WIS)

Author(s): M. M. Sulphey / Language(s): English Issue: 2/2020

Workplace identity (WI) is a multi-dimensional and multi-layered construct that originated from the concept of Identity. It is an attitude towards self that helps individual employees to identify themselves as crucial members in the organisation by shaping their roles in the employment context. Empirical examination of the construct is now gaining traction. A scientifically validated tool is likely to provide further impetus to detailed examinations of the WI concept. The present study is intended to construct and validate a tool to measure WI. Using the data collected from a sample of 248 respondents and the well established methodologies, this study constructs and validates a scale to measure WI – the Workplace Identity Scale (WIS). Having five factors, this scale has exhibited significant validity and reliability. WIS is expected to fill the gap in literature and is likely to stimulate further empirical research about this alluring construct.

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CONFIDENT MILLENNIALS: DIFFERENCES IN CONSUMER CONFIDENCE ACROSS FIVE GENERATIONS

Author(s): Kristoffer Persson / Language(s): English Issue: 4/2019

This paper investigates if individuals experiencing different socio-economic environments during their formative years have different expectations about future economic conditions. We use Swedish survey data to analyse differences in expectations across five generations of consumers by testing if they have different levels of confidence. The paper focuses on all the different generations of the 1900s as defined by Howe and Strauss (1997, 2000). In our econometric model, we use the Millennial Generation as a baseline, as this generation is about to make up the largest fraction of consumers in the economy. Contrary to the theory developed by the literature on generations, such as Howe and Strauss, our results show that confidence increases gradually across generations. We find that the Millennials are more confident than generations born in the first half of the 1900s, but similar in confidence to other generations born in the second half of the 1900s.

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Анализ на тенденциите на развитие и прогноза за изменението на печалбата след данъчно облагане и възвръщаемост на собствения капитал на банките в България

Author(s): Aglika Kaneva / Language(s): Bulgarian Issue: 2/2021

In this article, the trend in the profit after tax and return on equity of banks in Bulgaria has been modelled for the period 2007 – 2019. Based on the presumption that the established regularities will be preserved in the forecast period as well, an estimate has been developed for the future values of the profit after tax and return on equity of banks in 2020 and 2021.

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Pro-ecological Activities in Polish Financial Institutions on the Example of Selected Banks

Author(s): Katarzyna Kubiszewska,Agata Czyżewska / Language(s): English Issue: 1/2020

The character of the role that banks play in the economy provides them with an opportunity to positively affect the environment on multiple levels. The article aimed at characterising and evaluating pro-ecological activities occurring in financial institutions in Poland. It compares pro-ecological activities undertaken by three different banks operating on the Polish market: BOŚ Bank SA, BNP Paribas Bank Polska SA and PKO Bank Polski SA. Based on the conducted analysis, the author's division of environmentally friendly initiatives undertaken by banks was proposed.

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Italian Accessible Tourism Startups and Regional Sustainable Development

Author(s): Tindara Abbate,Patrizia Accordino,Raffaella Coppolino,Elvira Tiziana La Rocca,Daniela Rupo / Language(s): English Issue: 113/2020

Purpose – The concept of accessible tourism has been recently extended by involving permanent and temporary disabilities and also gender, race, ability or sexual diversity and every kind of inequality. Therefore, providing services capable of improving it for different market groups is an important challenge for the sustainable development of regions. This research intends to identify to what extent Italian accessible tourism startups meet regional sustainable development. Design/methodology/approach – This study performs an exploratory qualitative analysis based on a netnography collecting data deriving from the ten best projects awarded in the Invitalia 2019 challenge “Accessible”. Findings – Startups help not only cognitive but also actual accessibility dimension of regional tourism development, indeed, the findings reveal three different categories of "access gain": physical, cultural and health-related all suitable to increase the regional sustainable development. Research limitations – The main limitation is represented by the qualitative study, whose results are not generalizable. Indeed, it is the first step of broader research aimed to investigate the linkages between accessible tourism and regional sustainable development. Research implications – Existing firms and new entrepreneurs could enhance their business activities, taking into account accessible tourism opportunities. Policymakers should design and improve accessibility regulations as a competitive advantage for any sustainable regional tourism policy.

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The impact of WMS implementation on work productivity. The case of three distribution warehouses

Author(s): Ludwik Wicki / Language(s): English Issue: 3/2020

Solutions of Industry 4.0 cover more and more areas of the economy. In logistics, digitization applies to each of the functional areas. Introducing IT solutions in logistics leads to an increase in the reliability of communication, faster stock rotation, and a higher level of service. It enables higher work efficiency and overall productivity. Changes in work productivity in three warehouses as a result of the implementation of a WMS class system and accompanying necessary changes in the equipment and organiza tion of warehouse space was analysed in this work. The source of data for the analysis was the measurement of labour productivity for 12 months: three months before the implementation of the WMS and nine after its implementation. Work productivity after the implementation of the WMS increased by 40% compared to the level before it. The period of introducing WMS and obtaining an increase in personnel productivity was at least six months. Labour productivity in the analysed period increased in each month of the analysis. Only one of the three warehouses showed stabilization of workforce productivity at a level 50% higher than before the implementation. The research results confirm that the presence of WMS in the warehouse makes it possible to reach a significant increase in work productivity in warehouses.

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Corporate governance and capital structure in the periods of financial distress. Evidence from Greece

Author(s): George Kyriazopoulos / Language(s): English Issue: 1.1/2017

This study examines the relationship between corporate governance and capital structure employing data from the Athens Stock Exchange for the period 2005-2014. This period encompasses the sovereign debt crisis erupted in Greece at the end of 2009 and still continues to hit households and businesses alike. The results from the panel regression analysis signify the role of corporate governance structures in determining the capital structure of the Greek listed firms. In particular, the empirical results reveal a negative impact of board size on debt levels, which is weakened during the debt crisis period. In contrast, the presence of outside directors provides the appropriate certification to use more debt. Finally, growth opportunities and profitability are the two firm-specific factors which effect was weakened during the financially-constraint period.

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The Influence of the Evolution of Economic Activity in the Late Middle Ages and the Renaissance on the Emergence of the Dualistic Concept in Accounting

Author(s): Jan Turyna / Language(s): English Issue: 4 (90)/2020

Purpose: The purpose of this study is to demonstrate that the basic assumptions of double accounting were created by the same premises that contributed to the revival of humanistic trends in Europe in the 13th-14th centuries, especially in the socio-economic sphere. Approach: This is a historical overview of the section of the literature devoted to the rise and evolution of double entry accounting. The study is the result of research and literature studies, based on Polish and foreign sources. Conclusions: It can be stated with full conviction that accounting as we know it today is a product of the end of the Middle Ages, and especially of the early period of the Italian Renaissance in Italy. The preserved documents show that the accounting based on double entry, in the period of the thirteenth and fifteenth centuries, was shaped in several stages. First, it covered receivables and liabilities, initially by banks, then by other companies, and then, other assets were entered twice: goods, cash and liabilities. The use of equity in accounting led to the inclusion of result events in the accounting records. At this point, the entity’s accounting became a closed system as we know it today. Limitations: Taking into account a large number of - especially foreign-language - source materials on the origin of accounting, only a small part of these sources were analyzed and cited during the preparation of the article. It seems that the topic is worth further research and literature studies. Practical implications: The study is primarily epistemological in nature, not focused on economic practice. Originality: It is one of the few studies in accounting in Poland devoted to the origins of accounting based on double entry and its evolution as a result of economic development in Europe in the late Middle Ages and early Renaissance.

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Advanced methods of earnings management: monotonic trends and change-points under spotlight in the Visegrad countries

Author(s): Tomas KLIESTIK,Katarína Valášková,Elvira Nica,Mária Kováčová,George Lăzăroiu / Language(s): English Issue: 2/2020

Research background: Enterprises manage earnings in an effort to balance their profit fluctuations to provide increasingly consistent earnings in every reporting period. Earnings management is legal and very effective method of accounting techniques and may be used to obtain specific objectives of the enterprises involving the manipulation of accruals. Therefore, there is a need to analyze it in the context of group of countries, while the issue of their detection in the new ways appears. Purpose of the article: The analysis of annual earnings before interest and taxes (EBIT) of 5,640 enterprises from the Visegrad Four during the period 2009–2018 confirms that the development of earnings management in these countries is not a randomness. Thus, the aim of this article is to determine the existence of positive trend in earnings management and to detect the change-point in its development for each Visegrad country. Methods: Grubbs test, Mann-Kendall trend test and Buishand test were used as appropriate statistical methods. Mann-Kendall test identifies significant monotonic trend occurrence in earnings manipulation in every country. Buishand test indicates significant years, which divides the development of EBIT into two homogenous groups with individual central lines. Findings & Value added: Based on the statistical analysis applied, we rejected randomness in the managing of earning, but we determined the trend of its increasing. The positive earnings manipulation was not homogenous in the analyzed period, however, a change-point was defined. Year 2014 was identified as a break-point for Slovak, Polish and Hungarian enterprises considering the earnings manipulation. Year 2013 was detected as a change-point in Czech enterprises. The methodical approach used may be very helpful for researchers from other countries to determine, detect and understand earnings management as well as for the investors to make decisions based on a specificities of an individual country.

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КЉУЧНИ СТРУКТУРНИ ЕЛЕМЕНТИ У ФУНКЦИОНИСАЊУ РЕВИЗОРСКОГ СУДА ЕВРОПСКЕ УНИЈЕ

Author(s): Manja Đurić Džakić / Language(s): Serbian Issue: 47-48/2021

The aim of this paper is to get acquainted with the work of the European Court of Auditors, with special emphasis on its structure and the role of individual structural elements. Methods of analysis, synthesis, induction, deduction, abstraction, description, compilation and content analysis were used in the research. Research shows that the European Court of Auditors is a complex structure in which the key role is played by the president, audit councils (Council for Sustainable Use of Natural Resources, Council for Investment in Cohesion, Growth and Inclusion, Council for External Relations, Security and Justice, Council for market regulation and the competitive economy and the Council for the Financing and Governance of the Union), committees (Management Board, Audit Quality Control Committee, Ethics Committee and Internal Audit Committee), administrations and the Secretary General. Such a complex structure is a consequence of the importance and breadth of jurisdiction of the European Court of Auditors, which consists in checking the legality and regularity of all revenues and expenditures of the European Union and changes in understanding the significance of the Court of Auditors.

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KEY STRUCTURAL ELEMENTS IN THE FUNCTIONING OF THE EUROPEAN COURT OF AUDITORS

Author(s): Manja Đurić Džakić / Language(s): English Issue: 47-48/2021

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A Taxonomic Analysis of the Structure of Prime Costs in Polish Clinical Hospitals

Author(s): Joanna Sikora-Alicka / Language(s): English Issue: 2/2021

Research background: The analysis of the genesis and the way of defining clinical hospitals allows us to conclude that the evaluation of their activities should consider many criteria, not only the treatment process in itself. Activities characteristic for a clinical hospital include, apart from the medical, also prophylaxis and preventative measures, preceded by the identification of health risks, soliciting research and creating new directions of medical research, as well as implementing new medical technologies and treatment methods (Article 3, paragraph 2, points 1–2, Journal of Laws of 2020, items 295, 567, 1493, 2112, i.e.) combined with the training of medical personnel. Which all makes those units unique among hospitals. Purpose: The article aims to confirm the thesis that, despite significant organizational and functional differences, due to the specific nature of their activities, clinical hospitals do not differ significantly in the structure of generated costs. Research methodology: The article proposes using the taxonomic method as a tool for a comparative analysis of Polish clinical hospitals between the years 2012–2016. The study was conducted from a space-time perspective and concerned 20 hospitals. The use of the hierarchical agglomeration method to assess the cost structure of clinical hospitals is, according to the author, a tool that should be used, in addition to standard methods, by both external and internal decision-makers, in the process of assessing the coherence of the activities of units. Results: The conducted research confirmed that despite the differences between the analyzed units, they are characterized by the same structure of prime costs. Novelty: These studies should form the basis for further, a more detailed, cause-and-effect analysis of the cost structure to identify the main determinants shaping total operating costs.

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Гастрономията в развитието на туристическите дестинации в света

Author(s): Teodora Rizova / Language(s): Bulgarian Issue: 1/2020

The article considers gastronomy as a key aspect of the tourist activity. In the context of the rapid development of tourism and the increasing competition between the destinations, the subjects of the tourist market are in constant search of innovative approaches and new competitive advantages of their products and services. Gastronomy has the potential to increase the attractiveness of the tourist product and the destination as a whole. The gastronomic component is in line with current trends in consumer models such as the search for authenticity, creativity and gastronomic experience. The connection between gastronomy and the tourism industry is analyzed and the key advantages of gastronomy in tourism from the point of view of the main stakeholders are identified, such as increasing the competitive potential of the territory and gastronomic products; diversification of the local economy; flexibility to the phenomena of globalization and unification; reducing the impact of tourism on the environment, increasing its profitability; increasing the influx of tourists, etc.

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Specifičnosti pripremanja kratkoročnog izvještaja menadžmenta u državama Jugoistočne Evrope

Author(s): Bobana Čegar / Language(s): English,Serbian Issue: 3/2021

Publication of a semi-annual management statement, according to the EU Transparency Directive, is mandatory for all listed companies in EU member states, while the originally defined obligation to present this report on a quarterly basis was abolished by amendments to this Directive in 2011. Analyzing the legislation and information published by issuers in Southeast Europe, on a sample of 225 companies from nine different countries, it could be concluded that the publication of a semi-annual management statement is mandatory in Bulgaria, Montenegro, Croatia, Romania, Northern Macedonia, Slovenia and Serbia, but not in Bosnia and Herzegovina. Almost all companies that submitted this report did so within the deadlines defined for the submission of interim financial statements and usually in such a way that both, the management statement and the financial statements, are a single document. However, in terms of the content of the interim management statement, there are significant variations, both between the observed countries and between the observed companies within the same countries.

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The Contemporary Significance of the Early Accounting Teaching Methods

Author(s): Erzsébet Szász,Edith Debrenti / Language(s): English Issue: 2/2021

In the light of global trends, economic operators cannot withstand change. At first, computer-driven technologies replaced only routine tasks, which were easily programmed using algorithms. However, as a result of technological development, artificial intelligence, machine learning, the internet and big data, machines have acquired an understanding of non-routine tasks. They have become autonomous, and are now capable of solving more and more complex tasks. The job opportunities offered by the new digitalized world ask for new competencies developed by the education system. Our research examines 20 th-century teaching methods based on final exams made public, then compares and contrasts them to 21 st-century teaching materials and examination methods. One of the significant observations is that between 1900 and 1918, the final exam in mathematics contained only word problems. The majority of the 223 problems available, 57 by number, focused on “capital, interest, benefit, loan, sales and purchase.” The wording of the problems reflects the (actual) problems and events of the time. Although case studies are still present, most problems are the “calculate, solve, circle, underline” type. Example problems are often provided; thus, problem-solving turns into a routine task. The earlier method yet based on word problems inspired by our everyday economic reality might prove helpful in developing problem-solving skills, in reducing reading comprehension difficulties present at all levels of education as well as in indirectly raising awareness of today’s environmental, personal finance, issues.

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