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Volumen 58 (2022): Heft 3 (September 2022)

Volumen 58 (2022): Heft 2 (June 2022)

Volumen 58 (2022): Heft 1 (March 2022)

Volumen 57 (2021): Heft 4 (December 2021)

Volumen 57 (2021): Heft 3 (September 2021)

Volumen 57 (2021): Heft 2 (June 2021)

Volumen 57 (2021): Heft 1 (March 2021)

Volumen 56 (2020): Heft 4 (December 2020)

Volumen 56 (2020): Heft 3 (September 2020)

Volumen 56 (2020): Heft 2 (June 2020)

Volumen 56 (2020): Heft 1 (March 2020)

Volumen 55 (2019): Heft 4 (December 2019)

Volumen 55 (2019): Heft 3 (September 2019)

Volumen 55 (2019): Heft 2 (June 2019)

Volumen 55 (2019): Heft 1 (March 2019)

Volumen 54 (2018): Heft 4 (December 2018)

Volumen 54 (2018): Heft 3 (September 2018)

Volumen 54 (2018): Heft 2 (June 2018)

Volumen 54 (2018): Heft 1 (March 2018)

Volumen 53 (2017): Heft 4 (December 2017)

Volumen 53 (2017): Heft 3 (September 2017)

Volumen 53 (2017): Heft 2 (June 2017)

Volumen 53 (2017): Heft 1 (March 2017)

Volumen 52 (2016): Heft 1 (December 2016)

Volumen 51 (2016): Heft 1 (September 2016)

Volumen 50 (2016): Heft 1 (June 2016)

Volumen 49 (2016): Heft 1 (March 2016)

Volumen 48 (2015): Heft 1 (December 2015)

Volumen 47 (2015): Heft 1 (September 2015)

Volumen 46 (2015): Heft 1 (June 2015)

Volumen 45 (2015): Heft 1 (March 2015)

Volumen 44 (2014): Heft 1 (December 2014)

Volumen 43 (2014): Heft 1 (September 2014)

Volumen 42 (2014): Heft 1 (June 2014)

Volumen 41 (2014): Heft 1 (March 2014)

Volumen 40 (2013): Heft 1 (December 2013)

Volumen 39 (2013): Heft 1 (September 2013)

Volumen 38 (2013): Heft 1 (June 2013)

Volumen 37 (2013): Heft 1 (March 2013)

Zeitschriftendaten
Format
Zeitschrift
eISSN
2543-5361
Erstveröffentlichung
17 Oct 2014
Erscheinungsweise
4 Hefte pro Jahr
Sprachen
Englisch

Suche

Volumen 56 (2020): Heft 3 (September 2020)

Zeitschriftendaten
Format
Zeitschrift
eISSN
2543-5361
Erstveröffentlichung
17 Oct 2014
Erscheinungsweise
4 Hefte pro Jahr
Sprachen
Englisch

Suche

8 Artikel
Uneingeschränkter Zugang

Editorial

Online veröffentlicht: 30 Sep 2020
Seitenbereich: 191 - 192

Zusammenfassung

Uneingeschränkter Zugang

Assessment of the European Commission's proposals for financing the EU budget in 2021–20271

Online veröffentlicht: 22 Sep 2020
Seitenbereich: 193 - 208

Zusammenfassung

Abstract

A major problem in all European Union (EU) budgetary negotiations is the approach of Member States in net return terms (the fair-return approach). EU members compare their contributions to the EU budget with transfers that they receive from the budget. Net payers tend to reduce the size of the budget to contribute less. Brexit has aggravated the problem of the size of revenue (due to the United Kingdom's position as a big net payer). Also, new expenditure needs have arisen (for protecting external borders and climate, innovation, etc.). To address those needs, in 2018, the Commission submitted three proposals to supplement the current resources to finance the EU budget after the expiry of the principles of the Multiannual Financial Framework (MFF) for 2014–2020 at the end of 2020. The article aims to indicate whether the Commission's proposals are good instruments for the financing of the EU budget. The assessment relies on selected criteria based on theory. It also takes account of the feasibility of the proposals. The main conclusion is that none of the proposals meets well theoretical criteria of “genuine” EU revenue. Also, for practical reasons, it will be difficult for the Member States to come to an agreement on new budgetary resources. All proposals would be relatively costly for Poland.

Schlüsselwörter

  • EU budget
  • EU Multiannual Financial Framework
  • own resources
  • EU taxes

JEL Classification

  • H21
  • H61
  • H77
  • H87
Uneingeschränkter Zugang

Identification of nonlinear determinants of stock indices derived by Random Forest algorithm

Online veröffentlicht: 10 Sep 2020
Seitenbereich: 209 - 217

Zusammenfassung

Abstract

In this paper, the use of the machine learning algorithm is examined in derivation of the determinants of price movements of stock indices. The Random Forest algorithm was selected as an ideal representative of the nonlinear algorithms based on decision trees. Various brokering and investment firms and individual investors need comprehensive and insight information such as the drivers of stock price movements and relationships existing between the various factors of the stock market so that they can invest efficiently through better understanding. Our work focuses on determining the factors that drive the future price movements of Stoxx Europe 600, DAX, and WIG20 by using the importance of input variables in the Random Forest classifier. The main determinants were derived from a large dataset containing macroeconomic and market data, which were collected everyday through various ways.

Schlüsselwörter

  • determinants
  • Random Forest
  • stock index
  • machine learning

JEL Classification

  • C45
  • C5
  • G11
Uneingeschränkter Zugang

Will shared leadership engenders innovative work behaviors among salesmen toward improved performance?

Online veröffentlicht: 18 Sep 2020
Seitenbereich: 218 - 229

Zusammenfassung

Abstract

Studies have shown that issue of shared leadership is directly related to leadership style adopted in the organization, which is germane and strategic to teamwork to effectuate high business performance across industries. The study looks at the relationship between the different leadership styles and innovative work behaviors (IWBs) that would ultimately lead to improved performance in financial sector among sales team. Thus, the study examines the operational frameworks of the different leadership styles and the effects on IWBs vis-à-vis sales team work in the financial industry. The case of financial industry stems from the fact that operations are currently changing from arm-chair marketing to aggressive selling strategy to improve customer base and financial inclusion in the economy. The study found out that leadership styles—transformational leadership, individual empowering leadership (IEL), team empowering leadership, and participative leadership (PL) are very strategic to sales teamwork, but IEL and PL are more strategic and performance-enhancing to behaviorIWB in financial sector sales teamwork.

Schlüsselwörter

  • shared leadership
  • transformational leadership
  • individual empowering leadership
  • team empowering leadership
  • participative leadership
  • innovative work behavior
  • sales force

JEL Classification

  • M3
Uneingeschränkter Zugang

The importance of social media on the FMCG market in Bangladesh

Online veröffentlicht: 30 Sep 2020
Seitenbereich: 230 - 242

Zusammenfassung

AbstractObjective

The purpose of this paper is twofold: first, to identify the general use of the internet and examples of main social media used by residents of Bangladesh and second, to discover their potential in building marketing communication between FMCG manufacturers and consumers.

Methods

The research method used is a quantitative survey (face-to-face interviews) on the sample of 100 consumers conducted in September 2019 in Dhaka, the capital of Bangladesh.

Key findings

The majority of respondents have regular access to internet facilities and mainly two social media platforms are used: Facebook and YouTube. Product informations are sent to these media platforms for making purchasing decisions of the products of the FMCG market. Mostly males and the youngest group of respondents show the highest interest to social media.

Originality

This study contributes to the literature to develop the understanding of marketing communications from the perspective of FMCG manufacturers entering Bangladesh, as it is being the emerging market.

Schlüsselwörter

  • social media
  • marketing communication
  • Bangladesh
  • FMCG market

JEL Classification

  • D12
  • D83
  • L82
  • M31
Uneingeschränkter Zugang

Determinants of inward FDI in Ukraine: Does political stability matter?

Online veröffentlicht: 30 Sep 2020
Seitenbereich: 243 - 254

Zusammenfassung

Abstract

The main goal of this article is to study the determinants of foreign direct investment (FDI) in Ukraine from 2013 to 2017 that includes the years of armed conflict. We adopt the Knowledge-Capital model as our analytical framework and extend it to include the effects that account for political stability and political regime. The research hypotheses obtained from this framework are verified using the Pseudo-Poisson Maximum Likelihood estimation technique and the bilateral panel data on direct investment stocks from 140 partner countries. Our empirical findings show that access to Ukraine's cheap labor force is the primary reason for inward FDI. Moreover, we find no direct relationship between the political events in Ukraine and the investment stock dynamics as the estimated parameters on the indices of democracy, autocracy, polity, and political stability show no statistical significance.

Schlüsselwörter

  • foreign direct investment
  • political stability
  • Pseudo-Poisson maximum likelihood
  • Ukraine

JEL Classification

  • F23
  • P33
Uneingeschränkter Zugang

Network knowledge gathering of international new ventures, approaches, and preconditions

Online veröffentlicht: 27 Jul 2020
Seitenbereich: 255 - 274

Zusammenfassung

Abstract

This paper contributes to the growing stream of research on knowledge gathering in the internationalization process of international new ventures (INVs), as well as their networking activities. It identifies two dimensions describing the network knowledge-gathering approaches: 1) relationship approach (well-wishing or opportunistic) and 2) intentionality (intentional or unintentional search for knowledge), which enable the classification of the INV activities. The findings are based on a qualitative study conducted on four Polish INVs from the manufacturing industry. They show that internationalizing companies may behave opportunistically in their knowledge-gathering behavior, while, at the same time, some of their knowledge is also gathered unintentionally. The preconditions of knowledge-gathering behaviors suggested in the study include, among others, the managers’ experience, power division in the networks, and the duration of a relationship with a partner.

Schlüsselwörter

  • knowledge gathering
  • organizational learning
  • international new ventures
  • network internationalization
  • opportunism
  • Central and Eastern European Countries

JEL Classification

  • D83
  • F23
Uneingeschränkter Zugang

The sweet-and-sour soup of Michał Kalecki's political economy

Online veröffentlicht: 01 Sep 2020
Seitenbereich: 275 - 279

Zusammenfassung

Abstract

Leszek Jasiński [2019] attempts, as the title indicates, “a reading after half a century” of Michał Kalecki's thought. We dispute the main claim in the book, i.e. that Kalecki has a firm place in contemporary mainstream economics and was the originator of many ideas generally accepted today. On careful reading, virtually none of the models and theories by Kalecki selected by Jasiński for appraisal has entered mainstream neoclassical economic research and graduate academic teaching. Most of his policy advice was also neglected by the Capitalist State, (post)Stalinist “socialist” State, and “Intermediate Regimes” in developing countries. His opus remains original, advanced, insightful but heterodox in all contexts. Our main thesis is that, toutes proportions gardées, Jasiński is signalling an attempt to repeat the absorption of ‘bastardised’ Keynesianism into the mainstream “grand neoclassical synthesis” in the 1940s/50s with selected, reinterpreted, ‘bastardised’ Kaleckian ideas today. We also doubt that the unilinear view of the history of economic thought can be sustained.

Schlüsselwörter

  • Michał Kalecki
  • heterodox economics
  • economic models
  • history of economic thought

JEL Classification

  • B22
  • B29
  • B31
  • B59
8 Artikel
Uneingeschränkter Zugang

Editorial

Online veröffentlicht: 30 Sep 2020
Seitenbereich: 191 - 192

Zusammenfassung

Uneingeschränkter Zugang

Assessment of the European Commission's proposals for financing the EU budget in 2021–20271

Online veröffentlicht: 22 Sep 2020
Seitenbereich: 193 - 208

Zusammenfassung

Abstract

A major problem in all European Union (EU) budgetary negotiations is the approach of Member States in net return terms (the fair-return approach). EU members compare their contributions to the EU budget with transfers that they receive from the budget. Net payers tend to reduce the size of the budget to contribute less. Brexit has aggravated the problem of the size of revenue (due to the United Kingdom's position as a big net payer). Also, new expenditure needs have arisen (for protecting external borders and climate, innovation, etc.). To address those needs, in 2018, the Commission submitted three proposals to supplement the current resources to finance the EU budget after the expiry of the principles of the Multiannual Financial Framework (MFF) for 2014–2020 at the end of 2020. The article aims to indicate whether the Commission's proposals are good instruments for the financing of the EU budget. The assessment relies on selected criteria based on theory. It also takes account of the feasibility of the proposals. The main conclusion is that none of the proposals meets well theoretical criteria of “genuine” EU revenue. Also, for practical reasons, it will be difficult for the Member States to come to an agreement on new budgetary resources. All proposals would be relatively costly for Poland.

Schlüsselwörter

  • EU budget
  • EU Multiannual Financial Framework
  • own resources
  • EU taxes

JEL Classification

  • H21
  • H61
  • H77
  • H87
Uneingeschränkter Zugang

Identification of nonlinear determinants of stock indices derived by Random Forest algorithm

Online veröffentlicht: 10 Sep 2020
Seitenbereich: 209 - 217

Zusammenfassung

Abstract

In this paper, the use of the machine learning algorithm is examined in derivation of the determinants of price movements of stock indices. The Random Forest algorithm was selected as an ideal representative of the nonlinear algorithms based on decision trees. Various brokering and investment firms and individual investors need comprehensive and insight information such as the drivers of stock price movements and relationships existing between the various factors of the stock market so that they can invest efficiently through better understanding. Our work focuses on determining the factors that drive the future price movements of Stoxx Europe 600, DAX, and WIG20 by using the importance of input variables in the Random Forest classifier. The main determinants were derived from a large dataset containing macroeconomic and market data, which were collected everyday through various ways.

Schlüsselwörter

  • determinants
  • Random Forest
  • stock index
  • machine learning

JEL Classification

  • C45
  • C5
  • G11
Uneingeschränkter Zugang

Will shared leadership engenders innovative work behaviors among salesmen toward improved performance?

Online veröffentlicht: 18 Sep 2020
Seitenbereich: 218 - 229

Zusammenfassung

Abstract

Studies have shown that issue of shared leadership is directly related to leadership style adopted in the organization, which is germane and strategic to teamwork to effectuate high business performance across industries. The study looks at the relationship between the different leadership styles and innovative work behaviors (IWBs) that would ultimately lead to improved performance in financial sector among sales team. Thus, the study examines the operational frameworks of the different leadership styles and the effects on IWBs vis-à-vis sales team work in the financial industry. The case of financial industry stems from the fact that operations are currently changing from arm-chair marketing to aggressive selling strategy to improve customer base and financial inclusion in the economy. The study found out that leadership styles—transformational leadership, individual empowering leadership (IEL), team empowering leadership, and participative leadership (PL) are very strategic to sales teamwork, but IEL and PL are more strategic and performance-enhancing to behaviorIWB in financial sector sales teamwork.

Schlüsselwörter

  • shared leadership
  • transformational leadership
  • individual empowering leadership
  • team empowering leadership
  • participative leadership
  • innovative work behavior
  • sales force

JEL Classification

  • M3
Uneingeschränkter Zugang

The importance of social media on the FMCG market in Bangladesh

Online veröffentlicht: 30 Sep 2020
Seitenbereich: 230 - 242

Zusammenfassung

AbstractObjective

The purpose of this paper is twofold: first, to identify the general use of the internet and examples of main social media used by residents of Bangladesh and second, to discover their potential in building marketing communication between FMCG manufacturers and consumers.

Methods

The research method used is a quantitative survey (face-to-face interviews) on the sample of 100 consumers conducted in September 2019 in Dhaka, the capital of Bangladesh.

Key findings

The majority of respondents have regular access to internet facilities and mainly two social media platforms are used: Facebook and YouTube. Product informations are sent to these media platforms for making purchasing decisions of the products of the FMCG market. Mostly males and the youngest group of respondents show the highest interest to social media.

Originality

This study contributes to the literature to develop the understanding of marketing communications from the perspective of FMCG manufacturers entering Bangladesh, as it is being the emerging market.

Schlüsselwörter

  • social media
  • marketing communication
  • Bangladesh
  • FMCG market

JEL Classification

  • D12
  • D83
  • L82
  • M31
Uneingeschränkter Zugang

Determinants of inward FDI in Ukraine: Does political stability matter?

Online veröffentlicht: 30 Sep 2020
Seitenbereich: 243 - 254

Zusammenfassung

Abstract

The main goal of this article is to study the determinants of foreign direct investment (FDI) in Ukraine from 2013 to 2017 that includes the years of armed conflict. We adopt the Knowledge-Capital model as our analytical framework and extend it to include the effects that account for political stability and political regime. The research hypotheses obtained from this framework are verified using the Pseudo-Poisson Maximum Likelihood estimation technique and the bilateral panel data on direct investment stocks from 140 partner countries. Our empirical findings show that access to Ukraine's cheap labor force is the primary reason for inward FDI. Moreover, we find no direct relationship between the political events in Ukraine and the investment stock dynamics as the estimated parameters on the indices of democracy, autocracy, polity, and political stability show no statistical significance.

Schlüsselwörter

  • foreign direct investment
  • political stability
  • Pseudo-Poisson maximum likelihood
  • Ukraine

JEL Classification

  • F23
  • P33
Uneingeschränkter Zugang

Network knowledge gathering of international new ventures, approaches, and preconditions

Online veröffentlicht: 27 Jul 2020
Seitenbereich: 255 - 274

Zusammenfassung

Abstract

This paper contributes to the growing stream of research on knowledge gathering in the internationalization process of international new ventures (INVs), as well as their networking activities. It identifies two dimensions describing the network knowledge-gathering approaches: 1) relationship approach (well-wishing or opportunistic) and 2) intentionality (intentional or unintentional search for knowledge), which enable the classification of the INV activities. The findings are based on a qualitative study conducted on four Polish INVs from the manufacturing industry. They show that internationalizing companies may behave opportunistically in their knowledge-gathering behavior, while, at the same time, some of their knowledge is also gathered unintentionally. The preconditions of knowledge-gathering behaviors suggested in the study include, among others, the managers’ experience, power division in the networks, and the duration of a relationship with a partner.

Schlüsselwörter

  • knowledge gathering
  • organizational learning
  • international new ventures
  • network internationalization
  • opportunism
  • Central and Eastern European Countries

JEL Classification

  • D83
  • F23
Uneingeschränkter Zugang

The sweet-and-sour soup of Michał Kalecki's political economy

Online veröffentlicht: 01 Sep 2020
Seitenbereich: 275 - 279

Zusammenfassung

Abstract

Leszek Jasiński [2019] attempts, as the title indicates, “a reading after half a century” of Michał Kalecki's thought. We dispute the main claim in the book, i.e. that Kalecki has a firm place in contemporary mainstream economics and was the originator of many ideas generally accepted today. On careful reading, virtually none of the models and theories by Kalecki selected by Jasiński for appraisal has entered mainstream neoclassical economic research and graduate academic teaching. Most of his policy advice was also neglected by the Capitalist State, (post)Stalinist “socialist” State, and “Intermediate Regimes” in developing countries. His opus remains original, advanced, insightful but heterodox in all contexts. Our main thesis is that, toutes proportions gardées, Jasiński is signalling an attempt to repeat the absorption of ‘bastardised’ Keynesianism into the mainstream “grand neoclassical synthesis” in the 1940s/50s with selected, reinterpreted, ‘bastardised’ Kaleckian ideas today. We also doubt that the unilinear view of the history of economic thought can be sustained.

Schlüsselwörter

  • Michał Kalecki
  • heterodox economics
  • economic models
  • history of economic thought

JEL Classification

  • B22
  • B29
  • B31
  • B59

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