ACTA VSFSPub Date : 2022-07-31DOI: 10.37355/acta-2022/1-01
J. Ogede, O. Maku, B. O. Oshinowo, Mojeed M. Ologundudu
{"title":"Trade Openess, FDI and Income Inequality: New Empirical Evidence from Nigeria","authors":"J. Ogede, O. Maku, B. O. Oshinowo, Mojeed M. Ologundudu","doi":"10.37355/acta-2022/1-01","DOIUrl":"https://doi.org/10.37355/acta-2022/1-01","url":null,"abstract":"A huge number of empirical literature has carried investigation on trade openness-income inequality nexus globally. However, there are areas of knowledge gap on the part of the impacts of FDI inflows on inequality to the Nigerian economy. As a result of this knowledge gap and growing concern for variations in methodologies and scope which makes the debate on nexus between trade openness, FDI and income inequality not beyond controversy. Hence, this study examines the nexus between trade openness, FDI and income inequality in Nigeria between 1981 and 2019 using ARDL methodology. Our findings show that shows that trade openness exerts a negative effect on income inequality in the short-run. This implies that rising trade openness leads to decline in inequality. Equally, the study finds that FDI is negatively related to income inequality. The findings are in tandem the theoretical prediction of Stolper-Samuelson‘s theorem in case of Asia that trade openness and FDI inflow impact income inequality. The findings on government expenditure also exerts a positive effect on inequality. Given that proxies for institutional and macroeconomic determinants demonstrate a diverse variety of indications and effects, this study suggests a policy stimulus aimed at enhancing economic and social structures while also stimulating FDI influx potential in order to raise household incomes.","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69833814","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2022-07-31DOI: 10.37355/acta-2022/1-04
P. Mach
{"title":"The Application of Lagrange Multipliers in Consumer Choice Theory","authors":"P. Mach","doi":"10.37355/acta-2022/1-04","DOIUrl":"https://doi.org/10.37355/acta-2022/1-04","url":null,"abstract":"This article deals with the consumer choice theory developed by Irving Fisher, Francis Edgeworth, Vilfredo Pareto, and John Hicks. A three-dimensional utility function is presented as an alternative to indifference curves. In mainstream textbooks, the indifference curves together with the budget constraint are used to find the optimum of a consumer graphically at a point where the budget line is a tangent line to an indifference curve. In this article, a vertical cross-section of the three-dimensional utility function and the Lagrange multipliers are applied to find the optimum of a consumer directly from the three-dimensional utility function subject to the budget constraint.","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69833964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2022-07-31DOI: 10.37355/acta-2022/1-03
A. O. Gbadebo
{"title":"Effect of COVID-19 Pandemic on Foreign Exchange Rate Volatility: The Nigeria experience","authors":"A. O. Gbadebo","doi":"10.37355/acta-2022/1-03","DOIUrl":"https://doi.org/10.37355/acta-2022/1-03","url":null,"abstract":"The outburst of the Covid-19 brought anxiety that led to social distancing, staying at home, restrictions in traveling locally and internationally, and finally, the financial instability globally as many economic activities shut down. Consequently, the study examined the effect of the coronavirus pandemic on exchange rate volatility from February 29, 2020, to March 31, 2021. The study utilized two-time series data which were sourced from daily reports on covid-19 from the Nigerian Centre for Disease Control (NCDC) and daily exchange rates US$/Nigerian₦ from the Central Bank of Nigeria (CBN) statistical bulletin. The study used Error Correction Model (ECM) to analyze the data. The bound test was used in the survey to establish a level of association between the independent variables and the regressor set. The findings revealed that daily reported COVID-19 instances, daily death cases, and cumulative death cases had a positive effect on Nigerian exchange rate volatility. Conversely, confirmed cumulative coronavirus cases do not impact the exchange rate in Nigeria in the short run. Coronavirus significantly affected all macroeconomic indices, including the exchange rate. The study will be helpful to the government and its agencies in the determination of the palliatives for the needy citizens. It will also help the policymakers to develop strategies that can stabilize the economy and health sector to reduce the effect of the pandemic on the citizenry.","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69833899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2022-07-31DOI: 10.37355/acta-2022/1-06
V. Kupec
{"title":"The Results of the Project Higher Education Teachers' Digital Literacy Improvement","authors":"V. Kupec","doi":"10.37355/acta-2022/1-06","DOIUrl":"https://doi.org/10.37355/acta-2022/1-06","url":null,"abstract":"The ongoing Fourth Industrial Revolution and the environment of digitalisation have a significant impact on the whole society. This development also affects the education system, especially higher education teachers. It is necessary to adequately respond to the mentioned changes, as confirmed by the international document ‘Horizon Report’ or the national document ‘Digital Education Strategy for 2020’. According to these documents, modern teachers need to use digital technologies to support pedagogical approach and didactic practice. Therefore, the University of Finance and Administration (VŠFS) educates its teachers also in the field of digitalisation. For this reason, in 2020, 2021 and 2022 VŠFS implemented the European Economic Area (EEA) project focused on improving the digital literacy of higher education teachers (EHP-CZ-MOP-2-003).","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48309336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2022-07-31DOI: 10.37355/acta-2022/1-02
Marie Ligocká
{"title":"The Gender Wage Gap in EU Countries and its Relation to the Educational Attainment and Type od Employment","authors":"Marie Ligocká","doi":"10.37355/acta-2022/1-02","DOIUrl":"https://doi.org/10.37355/acta-2022/1-02","url":null,"abstract":"The issue of wage inequality between men and women is widely discussed today. Different developments in individual EU countries characterize different wage values between men and women. As the empirical literature shows, the causes of the gender pay gap are not clear. The paper aimed to examine whether the level of education attained and the type of working hours can affect the value of the gender pay gap in EU countries from 2006 to 2020. Using the GMM method and Granger's causality test, it was possible to find that the selected variables focused on educational attainment and type of employment did not explain any part of the gender pay gap in most cases. These results could be related to the fact that education is available for both sexes practically without significant restrictions. In some workplaces, a minimum percentage of women may be required. The quality of parental leave policy, the daycare system, and the legislative protection of women on parental or maternity leave, which have affected the labor market situation, may be important. These findings indicate that there may be other variables that may affect the values of the gender pay gap in the analyzed regions of the European Union. Granger causality in the opposite direction is attributed to significant labor flows.","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69833891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2022-07-31DOI: 10.37355/acta-2022/1-05
R. Laskowski
{"title":"Differences between Online Prices and the Consumer Prices Index During Covid-19 in Germany","authors":"R. Laskowski","doi":"10.37355/acta-2022/1-05","DOIUrl":"https://doi.org/10.37355/acta-2022/1-05","url":null,"abstract":"The purpose of this paper is to examine various online price indices with the consumer price index in Germany during the Covid-19 pandemic from 2019 to 2021. This investigation refers to 9,977 items of the product category stationery and drawing supplies, whose sales prices were automatically recorded and evaluated by Amazon.de and idealo.de on a daily basis through web scraping. The official consumer price index of the German Federal Statistical Office of the 3rd Stella level is available for this product category, which makes a direct comparison possible for this study. It was found that online prices are more dynamic and volatile and react directly to external market influences than the prices of stationary trade, which are reflected in the CPI of the German Federal Statistical Office. A deviation of up to 11.7% between the calculated online price indices (OPI) and the German consumer price index (CPI) was found. Especially the value-added increase on 01.01.2021 shows a deviation effect of 9.7% to the CPI. It could be determined that the online price indices and the CPI showed the same trends, but with different characteristics. While Amazon's OPI was still in line with the CPI in 2020, deviations of over 6% were observed in 2021. The prices of other online shops already showed significant deviations from the CPI within the first lockdown in April 2021, which was imposed by the government to contain the Covid 19 pandemic in Germany and forced the stationary trade to close down across the country.","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48970509","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2021-12-15DOI: 10.37355/acta-2021/2-01
Andrea Tomášková, R. Śmietański
{"title":"The Rise or Decline of Craft Trades? Evidence from Czech Republic and Poland","authors":"Andrea Tomášková, R. Śmietański","doi":"10.37355/acta-2021/2-01","DOIUrl":"https://doi.org/10.37355/acta-2021/2-01","url":null,"abstract":"Entrepreneurial activity in the field of craft professions is an integral part of national economies. The aim of the authors is to prepare an overview article, which would simultaneously compare selected business activities in the Czech Republic and Poland in the field of craft trades with an emphasis on young people and their employability in the labour market. In line with the aim of the article, the authors identified four research questions, which they answered based on the analysis of secondary data. They drew data from databases of statistical offices, ministries and associations. Data were processed using a descriptive statistics apparatus. In the Czech Republic, interest in the study of crafts has stagnated for a long time. In recent years, the number of graduates of craft apprenticeships has been growing. Crafts in the field of mechanical and electrical engineering are preferred, e.g. car mechanic, repairman, mechanical locksmith, electrician. Decrease in the number of graduates is recorded in the food and most construction professions. After finishing the apprenticeship, graduates often leave their field. In Poland, most companies operate in the field of trade and repair of motor vehicles. Measured by the number of graduates, the predominant field is the machinery industry, wellness professions and professions in the food industry. The interest among young people in the studied craft trades is declining in most fields, the field of metal machining shows a growing trend. It is also necessary to confirm the craftsman's expertise with a master craftsman’s certification. It is desirable to expand the possibilities of educating pupils and students in a real work environment. It is important that mutual communication between the worlds of practice and education is functional and effective.","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69833275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2021-12-15DOI: 10.37355/acta-2021/2-06
Naděžda Petrů
{"title":"A Look Back at the Czechoslovak Family Business Day, which Included a Conference Entitled Family Business, Intergenerational Milestones and Generators of Value","authors":"Naděžda Petrů","doi":"10.37355/acta-2021/2-06","DOIUrl":"https://doi.org/10.37355/acta-2021/2-06","url":null,"abstract":"","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69833345","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2021-12-15DOI: 10.37355/acta-2021/2-02
Benedikt Frank
{"title":"The Financial Crisis in the 2000s: Further Effects Regarding Lending, Regulation and Efficiency","authors":"Benedikt Frank","doi":"10.37355/acta-2021/2-02","DOIUrl":"https://doi.org/10.37355/acta-2021/2-02","url":null,"abstract":"The global financial crisis starting in 2007 was a central element of the new millennium and had a major impact on the global economy. This paper deals with the underlying causes and fundamental conditions as well as research and insights on the financial crisis in the area of liabilities and future lending, effects of regulations and bank resilience, as well as the changes in the banking industry in relation to the determinants of profitability. With three hypotheses developed on the basis of existing literature, that is critically evaluated and appraised, the paper aims to explore the global economic crisis from perspectives\u0000and origins beyond the often analysed triggers. The focus is on the pivotal point of the economic crisis: the banks and their international interconnectedness regarding lending, durability, and efficiency. Among other things, the findings revealed that the effect of the external funding shock on banks' domestic lending is significant, strong regulation, characterized as one-size-fits-all international best practice, is not always the blueprint for bank resilience and that efficiency has been a determining factor in bank profitability. Furthermore, no paradigm shift took place after the global economic crisis, and banks still seem to have to be rescued by the state in the event of bankruptcy due to their size.","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69833289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ACTA VSFSPub Date : 2021-12-15DOI: 10.37355/acta-2021/2-07
Miroslav Pavlák, E. Kostikov
{"title":"UFA initiates entrepreneurial thinking in its students","authors":"Miroslav Pavlák, E. Kostikov","doi":"10.37355/acta-2021/2-07","DOIUrl":"https://doi.org/10.37355/acta-2021/2-07","url":null,"abstract":"","PeriodicalId":30693,"journal":{"name":"ACTA VSFS","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48777931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}