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Volume 65 (2020): Edition 2 (August 2020)

Volume 65 (2020): Edition 1 (April 2020)

Volume 64 (2019): Edition 3 (December 2019)

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Volume 61 (2016): Edition 3 (December 2016)

Détails du magazine
Format
Magazine
eISSN
2065-9644
Première publication
06 Mar 2016
Période de publication
3 fois par an
Langues
Anglais

Chercher

Volume 62 (2017): Edition 3 (December 2017)

Détails du magazine
Format
Magazine
eISSN
2065-9644
Première publication
06 Mar 2016
Période de publication
3 fois par an
Langues
Anglais

Chercher

5 Articles
Accès libre

Existence and Efficiency of Stationary States in a Renewable Resource Based OLG Model with Different Harvest Costs

Publié en ligne: 19 Jan 2018
Pages: 3 - 32

Résumé

Abstract

In a renewable resource based overlapping generations (OLG) model without harvest costs, a complex combination of the time discount factor, the resource production share, and the natural regeneration rate ensure the existence of a stationary market equilibrium and its intergenerational efficiency when the own rate of return on natural capital is positive. This paper investigates to what extent previous findings carry over to an OLG economy with two types of unit harvest costs (constant, inverse stock dependent) arising from the competition for labor between resource harvesting and resource processing. In contrast to the model without harvest cost, we show why large unit harvest costs, surprisingly, do not require a complex combination of basic parameters for the existence of a stationary state, and that in the model with stock dependent costs intergenerational efficiency might occur even when the own rate of return on natural capital is negative.

Mots clés

  • Renewable resources
  • harvest costs
  • overlapping generations
  • existence
  • intergenerational efficiency

JEL Classification

  • C62
  • D90
  • Q20
Accès libre

Measuring the Impact of Extrinsic Cues on Consumers’ Purchasing Decision for Food Products

Publié en ligne: 19 Jan 2018
Pages: 33 - 46

Résumé

Abstract

The extrinsic product cues are becoming a very important aspect in product evaluation by consumers. Because of their importance many authors are exploring which extrinsic cues are considered more significant when evaluating the different kind of products. Therefore, the aim of this research is to investigate the impact of most researched extrinsic cues such as the country of origin (COO), brand, and price on a purchasing decision for food products among consumers in Kosova. To explore the domestic country bias, the impact of the additional cue labeled as “domestic product” is studied. Based on a quantitative survey, the main findings of this study revealed that the brand, the price, the country of origin, and domestic branded products have positive impact on a consumer’s purchasing decision, since consumers rely on those extrinsic cues when making their purchasing decisions. When multiple cues are presented, the country of origin is considered as the most important cue, while the “domestic product” is least important to Kosovar consumers. The findings of this study are useful to food producers and marketers of food products, since it can provide them with useful information on what consumers consider most important when purchasing food products.

Mots clés

  • extrinsic cues
  • brand
  • country of origin
  • price

JEL Classification

  • M31
  • C35
Accès libre

Banks’ Vulnerability and Financial Openness across Central and Eastern Europe

Publié en ligne: 19 Jan 2018
Pages: 47 - 66

Résumé

Abstract

This paper investigates the impact of the degree of capital account openness on banks’ exposure to extreme events during the period 2005-2012 using a sample of financial institutions from Central and Eastern Europe. The empirical output highlights a positive and strongly significant impact of a higher degree of financial openness on banks’ systemic vulnerability. Robust findings suggest that this harmful effect is lower for foreign owned banks or for those whose bank holding company signed one or more Vienna Initiative commitment letters. On the other side, tighter capital regulations and private monitoring policies enhance the positive impact of a higher degree of capital accounts openness on banks’ vulnerability to systemic events.

Mots clés

  • banks’ systemic vulnerability
  • financial openness
  • capital regulations

JEL Classification

  • G21
  • G28
  • G32
Accès libre

Evaluation of a Campus Service Quality Recreational Scale

Publié en ligne: 19 Jan 2018
Pages: 67 - 82

Résumé

Abstract

In the past two decades, several researchers have applied service quality frameworks in sport-related domains in measuring service quality among participants. However, university campus recreation has been scarce as compared to organised sport at local, regional and national levels, which often depends on a limited tenure linked to their membership as a registered student at a university. The purpose of the study is to investigate service quality dimensions as perceived by university leisure and recreation students. A cross-sectional survey was undertaken among 301 university students using a non-probability purposive sampling. Variables that constituted campus recreation service quality were operationalised through a literature review, including sport and recreational scales. Through factor analysis, seven distinct dimensions of campus recreation service quality were established. These factors were labelled: people interaction, facility design, sociability, physical change, equipment, ambience and program range. Item total correlations show satisfactory convergence of the items within their relevant constructs. This study complements the existing recreational sports body of knowledge by exploring campus recreation service quality. These dimensions may assist campus recreation mangers to understand the dimensions that are pertinent among students within a university context better. Recreation managers, in their periodic measurement of service quality, can incorporate these dimensions.

Mots clés

  • service quality
  • campus recreation programs
  • factor analysis
  • university

JEL Classification

  • M30
  • M31
  • M39
Accès libre

Understanding Success according to Crowdfunding Project’s Initiators

Publié en ligne: 19 Jan 2018
Pages: 83 - 100

Résumé

Abstract

Over the past few years, a large number of projects related to entrepreneurship ideas have appeared daily in the media, due to the fact that they were sold as new solutions for companies or gave origin to new companies. These projects were mainly created by individuals who were students, unemployed persons or working people and, consequently, did not have a company of their own and, in most of the cases, also did not have the means to finance their idea. In some situations, the creation of a crowdfunding project presents itself as a convenient and riskless option for funding and this is frequently the reason why some project initiators decide to launch a campaign. The assessment of each campaign depends on the expectations of the project creator, who is in the best position to decide whether it was actually successful. Untangling how a project owner can assess the performance of its project is of major importance, namely when projects are launched by individuals who ultimately carry all the tasks involved in the initiative. This is a field of research within crowdfunding that remains, to the best of our knowledge, under researched. We propose a framework for the analysis of the success of these projects and we test it on six crowdfunding projects launched in Portugal. Our goal is to shed light to the factors that can be used by project creators in the assessment of the performance of their initiatives.

Mots clés

  • crowdfunding
  • project owners
  • success
  • goals

JEL Classification

  • O22
5 Articles
Accès libre

Existence and Efficiency of Stationary States in a Renewable Resource Based OLG Model with Different Harvest Costs

Publié en ligne: 19 Jan 2018
Pages: 3 - 32

Résumé

Abstract

In a renewable resource based overlapping generations (OLG) model without harvest costs, a complex combination of the time discount factor, the resource production share, and the natural regeneration rate ensure the existence of a stationary market equilibrium and its intergenerational efficiency when the own rate of return on natural capital is positive. This paper investigates to what extent previous findings carry over to an OLG economy with two types of unit harvest costs (constant, inverse stock dependent) arising from the competition for labor between resource harvesting and resource processing. In contrast to the model without harvest cost, we show why large unit harvest costs, surprisingly, do not require a complex combination of basic parameters for the existence of a stationary state, and that in the model with stock dependent costs intergenerational efficiency might occur even when the own rate of return on natural capital is negative.

Mots clés

  • Renewable resources
  • harvest costs
  • overlapping generations
  • existence
  • intergenerational efficiency

JEL Classification

  • C62
  • D90
  • Q20
Accès libre

Measuring the Impact of Extrinsic Cues on Consumers’ Purchasing Decision for Food Products

Publié en ligne: 19 Jan 2018
Pages: 33 - 46

Résumé

Abstract

The extrinsic product cues are becoming a very important aspect in product evaluation by consumers. Because of their importance many authors are exploring which extrinsic cues are considered more significant when evaluating the different kind of products. Therefore, the aim of this research is to investigate the impact of most researched extrinsic cues such as the country of origin (COO), brand, and price on a purchasing decision for food products among consumers in Kosova. To explore the domestic country bias, the impact of the additional cue labeled as “domestic product” is studied. Based on a quantitative survey, the main findings of this study revealed that the brand, the price, the country of origin, and domestic branded products have positive impact on a consumer’s purchasing decision, since consumers rely on those extrinsic cues when making their purchasing decisions. When multiple cues are presented, the country of origin is considered as the most important cue, while the “domestic product” is least important to Kosovar consumers. The findings of this study are useful to food producers and marketers of food products, since it can provide them with useful information on what consumers consider most important when purchasing food products.

Mots clés

  • extrinsic cues
  • brand
  • country of origin
  • price

JEL Classification

  • M31
  • C35
Accès libre

Banks’ Vulnerability and Financial Openness across Central and Eastern Europe

Publié en ligne: 19 Jan 2018
Pages: 47 - 66

Résumé

Abstract

This paper investigates the impact of the degree of capital account openness on banks’ exposure to extreme events during the period 2005-2012 using a sample of financial institutions from Central and Eastern Europe. The empirical output highlights a positive and strongly significant impact of a higher degree of financial openness on banks’ systemic vulnerability. Robust findings suggest that this harmful effect is lower for foreign owned banks or for those whose bank holding company signed one or more Vienna Initiative commitment letters. On the other side, tighter capital regulations and private monitoring policies enhance the positive impact of a higher degree of capital accounts openness on banks’ vulnerability to systemic events.

Mots clés

  • banks’ systemic vulnerability
  • financial openness
  • capital regulations

JEL Classification

  • G21
  • G28
  • G32
Accès libre

Evaluation of a Campus Service Quality Recreational Scale

Publié en ligne: 19 Jan 2018
Pages: 67 - 82

Résumé

Abstract

In the past two decades, several researchers have applied service quality frameworks in sport-related domains in measuring service quality among participants. However, university campus recreation has been scarce as compared to organised sport at local, regional and national levels, which often depends on a limited tenure linked to their membership as a registered student at a university. The purpose of the study is to investigate service quality dimensions as perceived by university leisure and recreation students. A cross-sectional survey was undertaken among 301 university students using a non-probability purposive sampling. Variables that constituted campus recreation service quality were operationalised through a literature review, including sport and recreational scales. Through factor analysis, seven distinct dimensions of campus recreation service quality were established. These factors were labelled: people interaction, facility design, sociability, physical change, equipment, ambience and program range. Item total correlations show satisfactory convergence of the items within their relevant constructs. This study complements the existing recreational sports body of knowledge by exploring campus recreation service quality. These dimensions may assist campus recreation mangers to understand the dimensions that are pertinent among students within a university context better. Recreation managers, in their periodic measurement of service quality, can incorporate these dimensions.

Mots clés

  • service quality
  • campus recreation programs
  • factor analysis
  • university

JEL Classification

  • M30
  • M31
  • M39
Accès libre

Understanding Success according to Crowdfunding Project’s Initiators

Publié en ligne: 19 Jan 2018
Pages: 83 - 100

Résumé

Abstract

Over the past few years, a large number of projects related to entrepreneurship ideas have appeared daily in the media, due to the fact that they were sold as new solutions for companies or gave origin to new companies. These projects were mainly created by individuals who were students, unemployed persons or working people and, consequently, did not have a company of their own and, in most of the cases, also did not have the means to finance their idea. In some situations, the creation of a crowdfunding project presents itself as a convenient and riskless option for funding and this is frequently the reason why some project initiators decide to launch a campaign. The assessment of each campaign depends on the expectations of the project creator, who is in the best position to decide whether it was actually successful. Untangling how a project owner can assess the performance of its project is of major importance, namely when projects are launched by individuals who ultimately carry all the tasks involved in the initiative. This is a field of research within crowdfunding that remains, to the best of our knowledge, under researched. We propose a framework for the analysis of the success of these projects and we test it on six crowdfunding projects launched in Portugal. Our goal is to shed light to the factors that can be used by project creators in the assessment of the performance of their initiatives.

Mots clés

  • crowdfunding
  • project owners
  • success
  • goals

JEL Classification

  • O22

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