International Journal of Business and Economic Sciences Applied Research最新文献

{"title":"The British Stock Market under the Structure of Market Capitalization Value: New Evidence on its Predictive Content","authors":"C. Georgiou","doi":"10.25103/IJBESAR.133.05","DOIUrl":"https://doi.org/10.25103/IJBESAR.133.05","url":null,"abstract":"Purpose: The aim of our paper is twofold. First, we examine the predictive ability of log book-market, dividend-price, earnings-price and dividend-earnings ratios on the most recent data set of the strongest securities in the UK economy; unlike the majority of the studies in this data set, our analysis is not limited on returns but further investigates dividend and earnings growth predictability under the presence of the most recent global financial recession. Second, we exploit the long-run equilibrium relationship in two systems, [p_t,d_t,e_t] and [p_t,b_t,e_t] and examine the predictive ability of our newly formed variables, namely [pde]_t and [pbe]_t. Design/methodology/approach: In this study, we examine the most recent data set of Financial Times Stock Exchange 100 (FTSE 100) and analyze it based on the formation of size portfolios. The main focus is placed on the index’s returns, dividend and earnings growth rates and the predictive ability of the four financial ratios we have selected following their reputation as strong predictors. We also formulate two extra ratios based on their long-run equilibrium relationship. Finding: Our study’s main findings can be summarized as following. First, we retrieve evidence that in-sample return predictability is evident in the medium and large-sized portfolios and is better captured by [pde]_t at 35% and 47% equivalently. Second, forecasts on dividend growth are even more linked to the size criterion we employ. Third, in-sample regressions of continuously compounded earnings growth rate show that most predictive benefits are obtained by [dp]_t in the medium portfolio with an R^2 of 45%. Research limitations/implications: A first constraint is the forecasters we employ; we have used the most indicative ones due to their popularity in similar data sets but there are other macroeconomic variables such as spreads and interest rates that could be tested in future research. Also, we could examine the sensitivity of our results on whether we use nominal, excess or real returns and then, attempt to alter our data’s frequency so as to address the seasonality effect observed mainly in dividends and earnings. Originality/value: We believe that our paper contributes to the ongoing debate of the traits that make return predictable and the information included in either dividends or earnings to explain that predictability. Finally, the novelty of this paper lies in the links it tries to retrieve among market capitalization value and predictability in a market whose predictive components have not been entirely explored. Our paper may prove informative to investors focused on short-term forecasting and interested in the effects of size in portfolio formation.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69298142","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}

{"title":"Is The Oil Price a Determinant of Employment in Oil Intensive Romanian Communities?","authors":"Vlad-Cosmin Bulai, Alexandra Horobet","doi":"10.25103/ijbesar.123.01","DOIUrl":"https://doi.org/10.25103/ijbesar.123.01","url":null,"abstract":"Purpose: The purpose of this study is to determine the resilience of oil intensive Romanian communities to oil price fluctuations. Design/methodology/approach: The methodology employed is based on identifying the communities with the most extensive oil extraction activities using GIS (Geographic Information System) software. We then apply a random effects panel regression model to check the significance of the oil price as a predictor of employment. Finding: Results indicate that the effect of oil price fluctuations is limited, with employment in the identified communities following the national trend. Research limitations/implications: Unfortunately, our study is hindered by data availability issues and a short time series. Nevertheless, conclusions are backed by the country’s characteristics - a diversified economy, integration with refining operations, and the presence of related manufacturing and services activities. Originality/value: The study adds to the existing literature by focusing on a mature region with a long history of hydrocarbon extraction activities. We argue that the study of local communities in mature regions is of great importance in the context of the ongoing energy transition, particularly of those located within the European Union.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41350650","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}

{"title":"Error Reports in the Light of Error Management Climate, Task Complexity and Personnel Composition","authors":"Marco Haid, Sabine Graschitz, Peter Heimerl","doi":"10.25103/ijbesar.123.02","DOIUrl":"https://doi.org/10.25103/ijbesar.123.02","url":null,"abstract":"Purpose: This study examines the impact of error management climate, task complexity and personnel composition on the willingness to report errors in audit firms. A high willingness to report errors enables the proper conduction of an audit and is associated with higher organizational performance. Design/methodology/approach: We use a mixed-subject case-based experiment to gain data for the examination. A total of 53 certified Austrian and German auditors participated in the experiment. For the data analysis, we use descriptive statistics and nonparametric test procedures to investigate significant differences. Findings: The results indicate that a proper error management climate is the most important factor for the willingness to report errors, which increases under an “error-tolerant” error management climate. The impact of the error management climate is independent of the task complexity and the personnel composition in which the error occurred. Research limitations/implications: The use of other methods and approaches to manipulate and operationalize the variables may lead to different results. Originality/value: This study contributes to the growing body of literature on error management climate. The analysis of the influence of task complexity and personnel composition on the willingness to report errors offers new insights into the impact and significance of error management climate in audit firms.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43956919","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}

{"title":"Factors on the Accrual Accounting Adoption: Empirical Evidence from Indonesia","authors":"Khoirul Aswar","doi":"10.25103/ijbesar.123.04","DOIUrl":"https://doi.org/10.25103/ijbesar.123.04","url":null,"abstract":"Purpose: This study aims to examine the relationship between top management support, implementation costs, and effective project leader and the level of accrual accounting adoption in Indonesia's municipalities. Design/methodology/approach: The hypotheses of the study were tested using the survey data from 220 municipalites in Indonesia. The instrument for content and construct validity and reliability was tested. Then, the hypotheses were tested using Structure Equation Modelling (SEM) by SmartPLS. Finding: This study found that, top management support and implementation cost have significant relationship with the level of accrual accounting adoption. Meanwhile, effective project leader has no significant relationship with the level of accrual accounting adoption. Research limitations/implications: This study contributions to provide input into the adoption of Government Regulation No. 71 of 2010 in order to apply the rule of accrual accounting to the fullest, and to minimize errors in financial reporting with the identification of possible obstacles faced in implementing accrual accounting. This study recommended that, more factors such as human resources, external audit are needed to complement and improve financial reporting with accrual accounting adoption. Originality/value: To the best of the researcher's knowledge, no study of Indonesian municipalities has tested the impact of factor such as top management support, implementation cost, and effective project leader on the level of accrual accounting adoption.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42514915","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}

{"title":"Analysis and Critical Investigation of the Financial Statements of Food Sector Companies in Thessaly Region (Greece) that Were Included in the Investment Development Programs the Period 2013-2016","authors":"Ioannis Rigas, G. Theodossiou, N. Rigas, C. Karelakis, Nikolaos Pantos, Αpostolos Goulas","doi":"10.25103/ijbesar.122.05","DOIUrl":"https://doi.org/10.25103/ijbesar.122.05","url":null,"abstract":"Purpose: The aim of this research study is to assess the progress of the food sector companies that received financial aid for investment through the Developmental Laws in the last years (2013-16) of the economic recession in Thessaly Region (Greece), by choosing a random and representative sample of companies. Design/methodology/approach: In order to achieve this goal, financial data was collected which would be able to provide us with information in order to study the evolution of the food industry in Thessaly Region (Greece). The statistical analysis of the data was done with the statistical analysis package IBM SPSS Statistics 23. The descriptive statistics on the distributions and frequency diagrams (Histograms) and normal frequencies curves for the percentages of changes were also calculated. To test the significance of the differences between the mean values of the financial statements items, the method of One-Way Analysis Of Variance (One-Way ANOVA) was used. The same method was used to test the mean values of both the changes in amounts and in their percentages. Findings: In short, we can say that the percentage changes in Total Assets and Equity the time period 2013-16 are small and concentrated around zero. The same period, we have a significant increase in L/M Debt and Sales, except for a few extreme cases, while the percentage changes in Gross Profit and Profit before Tax are limited. The year 2016 there were significant changes in Taxes and Net Profit from AM2005-16. Research limitations/implications: The collection, processing, and analysis of the financial data of the undertakings were limited to the undertakings which have the obligation to publish their financial data. Originality/value: In recent years, very few studies have been carried out on the effectiveness of investment by private companies subsidized by Greek or European Investment Programs.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42010491","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}

{"title":"Neoclassical and technological catching-up as the channels of the real convergence process in the European Union","authors":"Izabela Młynarzewska Borowiec","doi":"10.25103/IJBESAR.102.01","DOIUrl":"https://doi.org/10.25103/IJBESAR.102.01","url":null,"abstract":"Purpose: The purpose of the paper is to investigate the β-convergence process between European Union member states in the period 2000-2014 and identify channels of that process. The paper attempts to illustrate if the investigated group of countries experienced convergence because of capital accumulation, technological catching-up or via both mechanisms. Design/methodology/approach: The framework used to test the relative strength of neoclassical and technological catching-up as convergence driving forces combines the neoclassical and endogenous representations of the economic growth process. The tests are conducted with the use of cross- sectional as well as panel data analysis, including the proper methods of estimation. Findings: The paper provides evidence for the presence of the β-convergence process among European Union countries in the period 2000-2014. The obtained results confirmed that in the analysed period, both channels of convergence (neoclassical and technological) occurred in the group of 27 EU member states. The technological mechanism seemed to be more important than the neoclassical one, especially between the “new” EU countries. In the group of “old” EU members no evidence of technological channel convergence was found. The preliminary survey on the existence of productivity convergence in the analysed groups confirmed its existence in the EU-27 and EU-12 group. Results for the EU-15 group were ambiguous. Research limitations/implications: As the results obtained for the EU-15 group were slightly different depending on the research method used, in the future, it would be advisable to carry out an additional study using an alternative research method. Moreover, further research on these issues should be explored towards much more accurate analysis of the productivity convergence and its impact on the real convergence process in the analysed groups of countries. Originality/value: The paper is an important step, giving direction to studies on determinants of the real convergence process in the EU. According to the obtained results, technological channel, not capital accumulation, is the driving force of the converge process in the European Union. It might be an important signal for the future convergence policy pursued at the national and European level. The policy concentrated on the dynamics of capital seems not to be effective enough to increase the speed of the convergence process between European Union member states in the future.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49183835","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}

{"title":"Management Control Systems and Strategy: A Resource Based Perspective. Evidence from Greece","authors":"N. Theriou, D. Maditinos, Georgios N. Theriou","doi":"10.25103/IJBESAR.102.04","DOIUrl":"https://doi.org/10.25103/IJBESAR.102.04","url":null,"abstract":"Purpose: The purpose of this paper is to empirically examine from the resource-based perspective, the relationship between the use of management control systems (MCS) and organisational capabilities in the Greek context. Design/Methodology/Approach: The study follows Henri's (2006) methodology and explores the relationships between the diagnostic and interactive uses of performance measurement systems (PMS) and the five capabilities (e.g. market orientation, organisational learning, entrepreneurship, innovativeness and market responsiveness) leading to strategic choice. Structural equation modelling represents the relationships between the variables and data collected from the survey, which was analysed as a statistical tool with AMOS. Findings: Results revealed that diagnostic use of PMS negatively influence only the organisational learning, while the interactive use positively interacts with most of the capabilities. Research limitations/implications: This study can be further extended by incorporating more factors in the proposed model, such as environmental uncertainty, size and organisational culture, and examine their possible effect on the relationship between PMS uses, organisational capabilities and performance. Originality/Value: There is no similar empirical research in the context of Greece.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69297340","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}

{"title":"Employee engagement factor for organizational excellence","authors":"Tzvetana Stoyanova, Ivaylo Iliev","doi":"10.25103/IJBESAR.101.03","DOIUrl":"https://doi.org/10.25103/IJBESAR.101.03","url":null,"abstract":"Purpose: The objective of this publication is to identify ways to increase employee engagement in Bulgarian business organizations and identify how such employee engagement affects employee and company performance. Design/methodology/approach: Our research is based on the evaluation of employee engagement methodologies used by well-known companies such as Gallup HCM Advisory Group, Deloitte and Aon Hewitt. Based on these, we derive the factors influencing employee engagement in Bulgarian companies. Findings: This work focuses on management, in recent years, aimed at retaining and developing the best employees, and their evolution into reliable potential leaders of the organization. This is undertaken to maintain and increase the number of those engaged in the business of company employees as well. The management of a successful leader is considered key to increasing employee engagement. Employee commitment implies something special, additional or atypical in the performance of tasks and job role. This is a behaviour that involves innovation, demonstrating initiative via proactive seeking of opportunities that contribute to the company and exceeding the expected standard of employee performance. The findings can strengthen the already-significant role of management. There is no universal way to increase employee engagement and motivation towards increased productivity, activity, and creativity. Research limitations/implications: The study has been undertaken for employees in Bulgaria.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42755147","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}

{"title":"Smart work: The transformation of the labour market due to the fourth industrial revolution (I4.0)","authors":"Birgit Eberhard, Mickael Podio, A. P. Alonso, Evita Radovica, Lidija Avotina, Līga Peiseniece, Maria Caamaño Sendon, Alison Gonzales Lozano, Joan Solé-Pla","doi":"10.25103/IJBESAR.103.03","DOIUrl":"https://doi.org/10.25103/IJBESAR.103.03","url":null,"abstract":"Purpose - This article explores how the fourth industrial revolution is transforming the labour market by demanding new professional skills and by digitalizing jobs done by the human resources of companies. A further aim is to postulate on new professions which will, in the future, be in high demand and the skills that will be required to fulfill those job non-robotized profiles. Design/methodology/approach: The proposed methodology is, firstly, an analysis of the impact of digitalization on the labor market in those economies experiencing the digital revolution. Secondly, an expert survey of university professors is conducted and curricula of universities are evaluated in order to analyze if higher education institutions are aware of future digital trends and what measures and teaching methods professors use to prepare their students to encounter these trends. Findings: Based on the results, future jobs of highly demand will be described, as will the skill sets needed to fulfill those jobs. Furthermore, a call of action to the higher education sector will be made to encourage universities to prepare future graduates for a new labor market reality. Research limitations/implications: The results of the research are expected to serve as a reflection on how the digital revolution is transforming the labor market and how universities can support students in order to enhance their employability. Conversely, an analysis of jobs that are expected to be in demand in the near future – new occupations will appear and some will slowly disappear as they become automated – will encourage students to better prepare themselves for their professional careers and give them a clearer perspective about the labor market they will work in, upon completion of their education. Originality/value: The skills portfolio, introduced by the authors of the present article, shall support universities and professors with future adaptions.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69297347","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}

{"title":"Innovation and Creativity at the Bottom of the Pyramid","authors":"L. Lehikoinen, Amanda Lundh, Louis Meert, Kevan Waeingnier, Nina Bentsen, Ida B. T. Norbye","doi":"10.25103/IJBESAR.111.02","DOIUrl":"https://doi.org/10.25103/IJBESAR.111.02","url":null,"abstract":"Purpose: The purpose of this study is to illustrate how innovative and creative companies develop products and services at the bottom of the economic pyramid (B.o.P) markets. This paper attempts to gain further insight regarding the usage of the 4A perspective developed by Anderson and Billou (2007) and the Triple Bottom Line (TBL) framework developed by Elkington (1999) as guidelines to achieve success in BoP markets. Design/methodology/approach: The authors of this paper come from three different countries (Sweden, Norway and Belgium), which gave a possibility to gather qualitative data from companies located or founded in these three countries. The 4A’s perspective and the TBL framework is used as a theoretical foundation to further investigate the phenomenon regarding how western companies act on B.o.P markets. Thus, this paper attempts to answer the following research questions: How can (social) entrepreneurs (or any companies) adapt the 4A perspective to introduce disruptive innovations and still, with the help from the TBL framework, maintain their sustainable, responsible and ethical approach? Additionally, how can the mind-set of innovation and creativity at the bottom of the pyramid in developing markets be transferred to social entrepreneurs in developed markets? Primary data was gathered through interviews with Solvatten (Sweden), MicroStart (Belgium) and Easypaisa (Norway). Findings: The 4A perspective was proven to be an effective tool while approaching B.o.P markets. Companies must think outside the box of traditional marketing and be creative, to achieve their goals. In dynamic markets, a company will struggle to keep up with all constraints. The case companies struggled most with acting sustainably while achieving profitability. Research limitations/implications: To further validate the results, the sample size should be bigger including several different companies and informants. Originality/value: This paper contributes to the literature of the already-established 4A perspective and the TBL framework by providing in-depth research, by investigating companies and their operations from three different countries (Sweden, Norway and Belgium). To our knowledge no prior case studies have been conducted in these countries.","PeriodicalId":31341,"journal":{"name":"International Journal of Business and Economic Sciences Applied Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69297419","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}