WSEAS Transactions on Business and Economics最新文献

{"title":"International Oil Price and Domestic Refinery Price: Empirical Evidence for Greece","authors":"Anna Triantafyllidou, P. Polychronidou, Ioannis Mantzaris","doi":"10.37394/23207.2023.20.228","DOIUrl":"https://doi.org/10.37394/23207.2023.20.228","url":null,"abstract":"Fuel prices and the pronounced fluctuations in the international oil market are among the most widely discussed topics worldwide. Recent international developments, including energy crises, have resulted in a substantial surge in global oil prices, leading to price increases across all countries and in all petroleum products. This paper investigates the correlation between international oil prices and refining costs in Greece. More specifically, this study focuses on how rapidly refinery prices respond to potential increases or decreases in the international oil price, commonly known as the ’Rockets and Feathers’ phenomenon. The investigation assesses the reaction of diesel and gasoline refinery prices to fluctuations in the international oil price and explores the potential presence of asymmetry. The econometric model employed is based on an asymmetric error correction model, utilizing weekly data spanning from 2013 to 2022 for Greece. According to our findings, both diesel and 95-octane gasoline prices exhibit an asymmetric response to international oil prices. Notably, refinery prices react more promptly to price increases than to decreases in the global oil price. This study holds particular significance, as this delay is reflected in final retail prices, indicating the possible existence of pricing asymmetries. Additionally, the issue of oil purchase contracts arises, which guarantee a fixed price regardless of the prevailing international oil price at the time and, consequently, do not justify such fluctuations in refinery prices. These findings could prove valuable for competition policy within Greece’s vertical oil market.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"106 13","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138607747","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":"Sustainable Use of Natural and Cultural Resources in the Cross-Border Region Slovenia – Croatia","authors":"Malgorzata Waniek, M. Franco, Ricardo Correia, J. M. N. Gómez, Ana Vulevic, R. Castanho","doi":"10.37394/23207.2023.20.226","DOIUrl":"https://doi.org/10.37394/23207.2023.20.226","url":null,"abstract":"One example of cross-border cooperation is between the two neighboring Balkan countries of Slovenia and Croatia. Recently, the quality and intensity of this cooperation have been significantly affected by the outbreak of the Coronavirus pandemic. In this context, this article examines the quality of balanced cross-border cooperation between Croatia and Slovenia, the exploitation of hitherto unexploited potential for increasing the utilization of the region’s natural and cultural resources, and the possibility of rebuilding and developing the tourism sector; in fact, it was in decline as a consequence of the pandemic. Besides, improving the quality of the environment and raising the standard of living and quality of life for the people living in the border areas was another objective. Slovenia and Croatia are promoting a sustainable, safe, and vibrant border area by supporting smart approaches to the protection, mobilization, and management of natural and cultural resources. People living, working, or visiting the area have seen many benefits from this. To provide innovative, smart, and practical solutions that help preserve and enhance the quality of the environment and its diverse identity as well as activate its socioeconomic potential, the main focus has been on harnessing the natural and cultural values of the area. It has been achieved by increasing opportunities for institutional cooperation at all levels to ensure a safe and vibrant environment.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"104 41","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138607820","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":"Effect of Innovation Resources on Sustainable Competitive Advantage: The Moderating Role of Responsible Innovation from Evidence of Hospitality Industry in Vietnam","authors":"Nguyen Thi Huyen Ngan, Duong Hong Hanh, Hoang Thi Lan","doi":"10.37394/23207.2023.20.227","DOIUrl":"https://doi.org/10.37394/23207.2023.20.227","url":null,"abstract":"This paper presents a study on the role of innovation resources, innovation capabilities, and especially the mediating role of responsible innovation in increasing sustainable competitive advantage (SCA) of enterprises in the competitive environment. This study is quantitative research that is applied in 1-5-star hotels in Hanoi, Vietnam. Research results indicate that innovation resources have positive effects on product and process innovation capabilities, responsible innovation, and SCA; Product and process innovation capabilities have positive effects on responsible innovation; Responsible innovation has a positive effect on SCA and plays the mediating role that strengthens the positive effect of innovation resources and innovation capabilities on SCA. These results make a theoretical contribution in providing empirical evidence demonstrating the important role of innovation resources, innovation capabilities, and especially responsible innovation. Therefore, useful information is delivered to managers to create innovation resources, strengthen innovation capabilities, and responsible innovation to increase enterprises’ SCA.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":" September","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138610865","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":"Hidden Costs in Higher Education: A Literature Scientific Analysis","authors":"Andrea Ramírez, Edison Calderón, Norberto Morales, Rosa Burgos, Raúl Ramírez","doi":"10.37394/23207.2023.20.225","DOIUrl":"https://doi.org/10.37394/23207.2023.20.225","url":null,"abstract":"Hidden costs are a relevant issue in the financial planning of institutions. In the context of higher education, this relevance serves to ensure stability, efficiency, and excellence in the development of institutional activities. The study’s objective was to analyze the patterns of publication, collaboration, and evolution of research on hidden costs in higher education. A bibliometric methodology was used, with the search for documents in the Scopus and Web of Science databases. This search resulted in a total of 152 documents published from 2015-2023. The evolution of the production, the most cited authors, the countries with the highest production, the co-occurrence of keywords, and an author network analysis were identified. The results show that the distribution of documents is 44.73% for Scopus and 55.27% for WoS. The scientific production increased from 5 publications in 2015 to 23 in 2023. The United Kingdom is the country with the largest amount of research and Europe stands out as the continent with the largest contribution in this area. The authors with the most publications are Armstrong, N., Kleijnen, J., and Worthy, G. The constant increase in scientific production linked to hidden costs in higher education is evident. Such growth translates into a significant increase in publications and citations, thus reflecting the relevance and interest in the subject.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"110 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138622214","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":"Business Cycles Synchronization between Baltic and Western European Countries","authors":"Rimas Zienius, Elisabeth T. Pereira","doi":"10.37394/23207.2023.20.222","DOIUrl":"https://doi.org/10.37394/23207.2023.20.222","url":null,"abstract":"This study examines the synchronisation of the business cycles between the Baltic States and the countries of Western Europe. The study covers the following countries: Latvia, Lithuania, France, the United Kingdom, Germany, and Estonia; and the quarterly GDP growth data during the period 1995-2017. The GDP growth data have been modified using the Hodrick-Prescott and Baxter filters to distinguish business cycles. To measure the synchronisation between the business cycles of the selected countries, the correlation between the business cycles of the countries was used. The results show that the business cycles of the Baltic and Western European countries were more synchronised in 2009-2014 than in 1998-2014. It shows that the Baltic economies are becoming more related to the European Union countries and less related to the post-Soviet countries.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139238423","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":"Corporate Social Responsibility and Its Influence on the Positioning of Financial Institutions in Arequipa, Peru 2021","authors":"Alexander Melendez, Harold Angulo","doi":"10.37394/23207.2023.20.223","DOIUrl":"https://doi.org/10.37394/23207.2023.20.223","url":null,"abstract":"In recent years, due to the concern for the preservation of the environment, companies must take action to ensure sustainability during their economic processes from an environmental and social aspect. It is for this reason that Corporate Social Responsibility (CSR) has taken an essential role in the Image and Positioning of companies in recent years. Despite this fact, in Peru, only some entities implement it. This article aimed to determine how the Positioning of financial institutions in the city of Arequipa, Peru, in 2021 is influenced by corporate social responsibility. To this end, a methodology of mixed approach of basic type, explanatory level, and non-experimental design was developed. The sample consisted of a total of 382 clients from 4 different financial institutions in the city of Arequipa: Caja Arequipa, Banco BCP, Banco Scotiabank, and Mibanco, which allowed the quantitative analysis of the study. Among the main results, it was obtained that the variation in a unit of economic, social, and environmental responsibility generates a variation in the Communication of 0.208, 0.301, and 0.182 units to the Identity in 0.271, 0.296, and 0.271 units and to the image in 0.362, 0.130, and 0.174 units, respectively.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"62 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139240934","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":"FinTech in Supply Chains: Post-COVID Challenges and Solutions","authors":"Alberts Rezniks, Julija Strebko, A. Romānovs, J. Bikovska, Arnis Lektauers, Julija Petuhova","doi":"10.37394/23207.2023.20.224","DOIUrl":"https://doi.org/10.37394/23207.2023.20.224","url":null,"abstract":"The sensational Covid-19 and the pandemic have profoundly changed many areas and enterprises. For many entrepreneurs, it was a huge challenge to revolutionize their logistics and be able to switch over to online payment and remote delivery of goods and services in an extremely short time. The article reviews the work of logistics and supply chains both before and after Сovid-19, the article introduces FinTech and the possible interaction of FinTech to improve the work of logistics and supply chains. This work aims to research the synergy of financial technologies and logistics. For this purpose, it is necessary to analyze the situation in the supply chain and FinTech sphere after the pandemic.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"224 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139239732","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 Consequences of Mergers and Acquisitions on the Value of Stocks Performance in India’s Banking Sector","authors":"Neeraj Rani, Sangeeta Sangeeta","doi":"10.37394/23207.2023.20.218","DOIUrl":"https://doi.org/10.37394/23207.2023.20.218","url":null,"abstract":"Mergers & Acquisitions are one of the most successful scaling up and company development strategies. Despite being largely acknowledged in developed economies, these strategies are commonly employed in developing countries like India. The event study approach is applied in this study to assess the consequences of Mergers & Acquisitions (M&A) on the value of stocks performance in India’s banking sector from 2013 to 2020. The market study approach has used to determine the Abnormal return (AR) and Cumulative abnormal return (CAR) in order to analyze how the phenomena affected share prices prior to and following the occurrence. Event window has been used for this purpose for 81 days (40, 40), whereas estimate window is 200 days. The findings show divergent results on the M&A activity influence the stock price performance. Research findings reveal that while few banks saw positive AR and CAR following the M&A, the bulk of banks experienced negative returns. Overall, the results reveal that the market’s response to the recurrence of M&As in India’s banking sector has unfavorable. Findings may be useful in providing managers and investors with new views while making investment-related decisions.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"62 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139263495","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":"Sustainable Supply Chain Management of COVID-19 Vaccines for Vaccination Delivery based on Routing Algorithms","authors":"Theodoros Anagnostopoulos, Michail Ploumis, Alkinoos Psarras, Faidon Komisopoulos, Ioannis Salmon, K. Ntalianis, S. R. J. Ramson","doi":"10.37394/23207.2023.20.221","DOIUrl":"https://doi.org/10.37394/23207.2023.20.221","url":null,"abstract":"Covid-19 pandemic has changed daily life in the city of Athens where vaccines are exploited with supply chain technology potentiality. Vaccines are tracked at the city’s airport till their delivery to vaccination centers. Due to the sensitivity of vaccines to the warm climate inherent in the city, delivery is assigned to a fleet of trucks. Specifically, two use cases, i.e., UC-I and UC-II, are proposed, which are based on global and local routing algorithms to exploit trucks’ load COVID-19 vaccine delivery from the airport and transport it to vaccination centers. In this paper, we focus on the supply chain routing algorithm technology of collecting COVID-19 vaccines from the airport and delivering them to vaccination centers in the smart city of Athens, Greece. Concretely, the purpose and the objectives of the research effort are in the areas of: (1) describing in deep detail the proposed supply chain system, (2) exploiting the adopted architecture based on certain separate use cases for system experimentation, (3) adopting specific vaccination routing algorithms to support vaccination distribution, and (4) evaluating experimentally the proposed supply chain system architecture with regards to the adopted use cases’ routing algorithms.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"3 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139264176","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 Mediating Role of Neuromarketing in Achieving Customer Satisfaction based on Market Orientation: An Exploratory Study for a Sample of Workers in Asia Cell Telecom","authors":"Mohammad Mahmood Al-Mulla Hasan, Bashar Thaker Al-Qotaje, Mohammed Ahmed Al-Hamamy","doi":"10.37394/23207.2023.20.217","DOIUrl":"https://doi.org/10.37394/23207.2023.20.217","url":null,"abstract":"The interaction of three dimensions forms the theoretical and field framework for this study, namely (market orientation, neuromarketing, and customer satisfaction), as market orientation represents the development of market intelligence about the current and future needs and desires of customers to satisfy those needs, with the distribution of this information to all departments of the organization and the creation of a response comprehensive. In contrast, neuromarketing is represented as researching brain patterns and some physiological consumer responses to marketing stimuli represented by electroencephalography, skin galvanic responses, eye tracking, work services, and facial coding. Therefore, this research represents great importance by identifying three important facts in the science of marketing management, which represent goals that organizations of all kinds seek to achieve and apply to keep pace with competition and confront it. on her, Asia Cell Company was a field for conducting the field side of the study, and the researchers sought to include several questions expressing the problem of the study, which were the basis for building the field side of the study, including (i)Is there a significant effect of market orientation on customer satisfaction and neuromarketing? (ii)Is there an indirect, significant effect of market orientation on customer satisfaction through neuromarketing? To answer these questions, a hypothetical scheme for the study was formulated that reflects the relationships and influences between the two dimensions of the study, which resulted in a set of main and sub-hypotheses that were tested using a number of statistical methods for the data collected in the questionnaire, which numbered (150), and all of them were retrieved. A set of conclusions that were distributed in terms of the theoretical side and the field side, the most important of which are: The increase in the interest of the researched company in customer satisfaction came when the organization adopted the market orientation as its approach. Neuromarketing reinforced these results when it entered a mediating variable, as we note that relying on market orientation and building appropriate strategies. In the light of this approach and through the techniques adopted by the company and provided by neuromarketing, will lead to increased customer satisfaction with the services provided by the researched company. Based on the conclusions reached by the study, both theoretical and field, proposals were presented that are consistent with these conclusions.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"40 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139264770","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}