A. Zhakupov, Assylkhan B. Yessilov, Alibek Yelemessov, N. Ismailova
{"title":"The Impact of the Pandemic on the Economic Development about Small and Medium Sized Businesses","authors":"A. Zhakupov, Assylkhan B. Yessilov, Alibek Yelemessov, N. Ismailova","doi":"10.14505/tpref.v14.1(27).12","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).12","url":null,"abstract":"The article substantiates the use of a systems approach to the processes about business model switching in small businesses, as this approach was not previously demanded before the pandemic. In this regard, it is concluded that the study of strategic shifts made by small businesses in different segments of the economy is an important new stage in the development of the systems approach. \u0000This paper proposes adapting the matrix approach to distinguish crisis states for small businesses according to the properties of their business models: divergent to crisis; crisis-resistant; adaptive; temporarily limited; externally supported; true bankruptcy. \u0000A standardized decision-making procedure for digitalization has been developed, and the challenges that small businesses need to address when choosing a digitalization scenario as the minimum necessary sequence of actions, each element of which is necessary to realize the digital transition, have been identified.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124059286","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":"The Impact of Increasing Performance and Productivity in the Management of Human Resources in Albanian Enterprises","authors":"F. Vela, Zamira Sinaj","doi":"10.14505/tpref.v14.1(27).08","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).08","url":null,"abstract":"The importance of improving the efficiency of enterprises in Albania and, consequently, the role of personnel management in the implementation of this task has increased especially in recent years when the number of workers has decreased significantly due to the increase in emigration. The purpose of the study is to determine the most effective system of motivation and planning for them, considering the characteristics and national mentality of agricultural workers, and to form recommendations for the most acceptable management style for this group. The Holfstede typology of cultural dimensions was used as a primary method to identify the cultural and behavioral characteristics of the target audience. As a result of the survey conducted among 1514 staff representatives and the processing of its results, the average indicators for cultural dimensions were calculated and the evaluations of these indicators were given. According to the data obtained for the typology of cultural dimensions, it was found that the values in the examined social group are mainly determined by traditions and customs, which means that a management model is required that will not impose the existing principles of Western management but uses the tools own based on relatively democratic principles. Based on the obtained characteristics, recommendations were formed for such main management tools as the principles of subordination, the system of defining tasks and monitoring their implementation, as well as for effective motivation of personnel. The practical importance of the study lies in the development of recommendations for improving personnel management and, as a result, increasing efficiency in agricultural enterprises in Albania.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"221 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133418745","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":"I.J. Good’s Claim, That Keynes’s Evidential Weight of the Argument, V, a Logical Relation, is a Number, is False","authors":"M. E. Brady","doi":"10.14505/tpref.v14.1(27).01","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).01","url":null,"abstract":"All current assessments of how Keynes’s weight (evidential weight of the argument) concept is measured are erroneously based on a metaphor ignored by I.J. Good, which Keynes used before he presented the mathematical analysis involved in measuring weight in chapter 26 of the A Treatise on Probability, on page 77 of chapter 6 to measure weight. \u0000Keynes’s chapter 26 is the omega while chapter 6 is the alpha. It is impossible to fully grasp Keynes’s evidential weight of the argument concept, first presented as a logical relation designated as V, which is then measured through the construction of an index of weight in chapter 26, without a detailed study of pp. 310-315 of chapter 26 of the A Treatise on Probability. \u0000The misbelief that Keynes ‘s concept of the evidential weight of the evidence, V=V(a/h), in chapter 6 of the A Treatise on Probability, represented a measure of the absolute amount of Knowledge, defined as K by Good to represent a gross measure of weight, can be traced back to numerous book and journal article contributions made by I.J. Good between 1950 and 2000. \u0000The most severe errors about chapter 6 of the A Treatise on Probability were repeated again and again by Good from 1950 to 1990 (Good 1950, 1960, 1962, 1965, 1967, 1967, 1968/70, 1970/71, 1975, 1983a, 1983b, 1985, 1988, 1988, Good and Toulmin 1968). \u0000Good completely overlooked Keynes’s footnote 1 on page 76 of chapter 6 to chapter 26 of the A Treatise on Probability, where Keynes stated that he would discuss how to integrate weight into a discussion of “…the application of probability to practice.” This would require a mathematical analysis and, obviously, would require the restriction that V(a/h)=w, 0≤w≤1, and w is the degree of the completeness of the information so as to be able to combine it with 0≤α≤1, where P(a/h)=α and α is the probable degree of rational belief.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131575818","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":"Health Financing and Household Financial Protection in D.R. Congo: A Vector Autoregressive Model (VaR) Analysis","authors":"Emmanuel BINENE SABWE, Logas LOWENGA KOYAMODJA, Yannick LUBONGO MBILU, Floribert NTUNGILA NKAMA","doi":"10.14505/tpref.v14.1(27).05","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).05","url":null,"abstract":"This paper examines the health-related expenditures of economic agents in the Democratic Republic of Congo (households, government and its external technical and financial partners). Given health care high costs of health care in the DRC, access to appropriate health care is hindered due to low income. As a result, government and its external technical and financial partners indispensably step in to ensure that vulnerable households are protected from ruinous expenses. \u0000At the same time, the paper provides an overview of public finances in the DRC health sector using a theoretical approach and analyzes government intervention effects and their external technical and financial partners intervention effects using a vector autoregressive model (VaR) through random shock simulations and variance decomposition. This analysis is carried out assuming that socioeconomic environment is constant \"all things being equal\". \u0000The result is that household health-related expenditure per capita forecasts can be significantly improved at 0.05 threshold by public health-related expenditure per capita and by health-related expenditure per capita forecasts engaged by external technical and financial partners.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114995687","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}
Siti Nurul Aziah Ismail, Wan Norhayati Mohamed, K. Omar, N. Mat, Jumadil Saputra
{"title":"A Conceptual Analysis of the Technology, Organisation, Environment, Readiness and Industry 4.0 Adoption in Malaysia Small and Medium Enterprises","authors":"Siti Nurul Aziah Ismail, Wan Norhayati Mohamed, K. Omar, N. Mat, Jumadil Saputra","doi":"10.14505/tpref.v14.1(27).14","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).14","url":null,"abstract":"Technology advancement is a primary element in differentiating Industry Revolution 4.0 (IR 4.0) from previous Industrial Revolutions. This revolution changes the nature of workforces, and the way people work. As a result of rapid technological advancement through Industry 4.0, SMEs are finding it more difficult to innovate and adopt. SMEs have difficulty adopting Industry 4.0; hence they tend to remain inactive. They can, however, reap greater benefits if they are more active and open to this new revolution. The current paper aims to examine the potential for reviewing to investigate, in the context of Malaysian SMEs and the adoption of Industry 4.0, whether the relationships between technology, organisations, environment, and Industry 4.0 adoption are mediated by readiness. Also, the paper analysed the various issues and concepts related to the study through various literatures. The study's results are expected to demonstrate that the relationships between technology, organisations, and environmental aspects are mediated by a readiness to adopt Industry 4.0. This finding will provide information to SMEs on which aspects for the company to improve to be ready and adopt Industry 4.0. It will also be useful to policymakers who create strategies and support systems to encourage the growth of Malaysian SMEs. \u0000 ","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114395156","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}
P. Mishra, H. B. Rout, Debasis Sahoo, Pradip Kumar, S. Chaini
{"title":"International Tourism, Financial Deepening and Economic Growth: Insights from Southern African Countries","authors":"P. Mishra, H. B. Rout, Debasis Sahoo, Pradip Kumar, S. Chaini","doi":"10.14505/tpref.v14.1(27).07","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).07","url":null,"abstract":"The impact of tourism development on financial development via its effects on economic growth and country openness in Southern African countries for the period 1995 to 2019 was examined relying on pooled mean group-based estimation of panel ARDL regression, and the results lend supports to the tourism-led financial development hypothesis in these countries in the long-run. The findings infer that the development of the travel and tourism sector can spur financial development as the former by contributing to output, employment and income warrant an enhanced role of the financial sector. \u0000 ","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114497481","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":"Enjoying a Quiet Life Even During a Great Recession? Evidence From the Greek Olive Oil Industry","authors":"I. Keramidou, A. Mimis","doi":"10.14505/tpref.v14.1(27).06","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).06","url":null,"abstract":"The research investigates the link between market concentration and efficiency by analyzing the Greek olive oil industry data from 2006 to 2014. Unlike previous research on this issue, which focused on the impact of overall company efficiency on market power, we study the association between the three types of firm efficiency (profit, technical, and scale) and market concentration. Our theoretical framework and research assumptions were not predefined but were generated by modelling the data from the Greek oil olive sector through data mining techniques. The predicted causal relationships constructed in the preceding stage were investigated using partial least squares path modeling (PLS-PM) regression. The results show a significant negative relationship between market concentration and technical and profit efficiency. The paucity of completion resulted in prolonged firm inefficiencies, demonstrating that Greek enterprises, even during a severe recession, refrained from rigorous efforts to enhance technical and profit efficiency as they would in a competitive market, preferring instead to live a quiet life (QL). This study has several policy implications for regulators and policymakers, such as extending antitrust rules, which may enhance company efficiency and competitiveness.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126970331","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":"The Study on Socio-Economic Impacts of Tourism in the Golden Triangle of Odisha","authors":"Rojalin Mohanty, A. Samal","doi":"10.14505/tpref.v14.1(27).09","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).09","url":null,"abstract":"The Puri-Konark-Bhubaneswar “Golden Triangle” is not only Odisha's main draw but also has enormous potential as a tourist destination. Odisha, on India's eastern coast, is an auspicious Indian state with numerous opportunities and a wealth of sights to see. The state has many natural and cultural resources, such as its beaches, arts and crafts, temples and monuments, lakes, forests, and wildlife. Millions of worshippers from all over the world visit the temple of Lord Jagannath in Puribecause it is considered one of the holiest of holy dhams in India, alongside the Sun Temple at Konark, the sole World Heritage Monument in all of India. Bhubaneswar, the state capital, is home to a wide variety of well-known tourist attractions, such as the Lingaraj temple, the Rajarani temple “widely regarded as the crowning achievement of Kalingan architecture”, the Jain caves at Khandagiri and Udaygiri, the white tiger breeding grounds at Nandankanan, the site of the Kalingan war at Dhauligiri, and many others besides. Odisha has a lot of potential as a tourist destination, and there are many exciting things to see and do there, but the state has not seen a significant uptick in visitor numbers to match its product. This study mostly focused on a popular travel destination for the “Golden Triangle”. Many people travel to Puri each year to pay their respects to Lord Jagannath because it is considered to be one of the four Dhams. The group travels to Puri, the Sun Temple at Konark, and the Shiva Temple in Bhubaneswar. Since so many people flock to Odisha, the area around Bhubaneswar, Puri, and Konarkhas become known as the “Golden Triangle”. \u0000 ","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121530113","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":"Characterizing the Anchoring Effects of Official Forecasts on Private Expectations","authors":"Carlos R. BARRERA CHAUPIS","doi":"10.14505/tpref.v14.1(27).11","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).11","url":null,"abstract":"The paper proposes a method for simultaneously estimating the treatment effects of a change in a policy variable on a numerable set of interrelated outcome variables (different moments from the same probability density function). Firstly, it defines a non-Gaussian probability density function as the outcome variable. Secondly, it uses a functional regression to explain the density in terms of a set of scalar variables. From both the observed and the fitted probability density functions, two sets of interrelated moments are then obtained by simulation. Finally, a set of difference-in-difference estimators can be defined from the available pairs of moments in the sample. A stylized application provides a 29-moment characterization of the direct treatment effects of the Peruvian Central Bank’s forecasts on two sequences of Peruvian firms’ probability densities of expectations (for inflation -π- and real growth -g-) during 2004-2015.","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134421859","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":"A Basic Two-Sector New Keynesian DSGE Model of the Indian Economy","authors":"Anshul Kumar","doi":"10.14505/tpref.v14.1(27).04","DOIUrl":"https://doi.org/10.14505/tpref.v14.1(27).04","url":null,"abstract":"Indian economy is going through underlying changes in the post-pandemic recovery process. Effects of policies, monetary or fiscal, on macroeconomy need a thorough analysis in these recessionary times. In this context, this study develops a closed-economy DSGE model to see the impact of monetary policy on the Indian economy. The model includes price rigidities, and parameters are calibrated using the data on Indian economy. The model includes two sectors – intermediate goods and final goods producers, an inflation-targeting regime following the Taylor rule. Model is simulated for a positive productivity shock and an expansionary monetary policy shock. Results show that a positive productivity shock improves overall economic activity, and an expansionary monetary policy shock increases output for the short term only. \u0000 ","PeriodicalId":362173,"journal":{"name":"Theoretical and Practical Research in the Economic Fields","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114506698","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}