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Scientific Annals of Economics and Business最新文献

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Do CDS Spreads and Inflation Move Together? The Experience of the Fragile Five Countries and the BRICS-T CDS价差与通货膨胀同步波动吗?脆弱五国与金砖国家合作的经验
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-05-24 DOI: 10.47743/SAEB-2021-0009
Sinan Ayteki̇n, Nida Abdioğlu
{"title":"Do CDS Spreads and Inflation Move Together? The Experience of the Fragile Five Countries and the BRICS-T","authors":"Sinan Ayteki̇n, Nida Abdioğlu","doi":"10.47743/SAEB-2021-0009","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0009","url":null,"abstract":"International investors wish to measure the sovereign risk premiums of the countries they want to invest in. Credit Default Swap Spread (CDS), which also shows the credit risks, is one of the important proxies that measure the country risk. Increased CDS spreads increase the cost of borrowing of countries and therefore the factors affecting the CDS spreads should be determined correctly. From this point of view, this study investigates the factors that have impacts on CDS spread ratios of BRICS-T and Fragile Five countries. According to panel regression results, exchange rate, inflation rate, unemployment rate and VIX positively affect CDS spreads. However, Industry Production Index, GDP growth and S&P 500 Index level negatively affect CDS spreads. These results are accurate both for BRICS-T and Fragile Five countries. We also find that Industry production index, GDP growth rate and unemployment rate are the significant determinants of inflation for both BRICS-T countries and Fragile Five countries.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"163-175"},"PeriodicalIF":0.6,"publicationDate":"2021-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43813063","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}
引用次数: 0
University Behavior under Borrowing Constraints: The Effect of Students' Abilities Distribution 借贷约束下的大学行为:学生能力分布的影响
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-03-26 DOI: 10.47743/SAEB-2021-0008
Bralind Kiri
{"title":"University Behavior under Borrowing Constraints: The Effect of Students' Abilities Distribution","authors":"Bralind Kiri","doi":"10.47743/SAEB-2021-0008","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0008","url":null,"abstract":"The interaction between a university and potential students is examined under the assumptions of financial constraints and of students' abilities following the pattern of a triangular distribution. Subsequently, a comparative statics analysis in terms of welfare and vectors composed of three components – namely quality, tuition fee and ability threshold – is provided. Results suggest that the mode of the distribution is an intrinsic part of equilibria, and that a human capital maximizing university makes additional efforts in terms of pricing and non-pricing strategies in order to alleviate the inconveniences arising due to financial constraints and non-uniformity in the distribution of students' abilities.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"1 1","pages":"1-14"},"PeriodicalIF":0.6,"publicationDate":"2021-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47472591","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}
引用次数: 0
House Price Shock and Business Cycle: The French Case 房价冲击与经济周期:法国的案例
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-03-22 DOI: 10.47743/SAEB-2021-0007
A. Saad, Ahmad Alqatan, M. Arslan
{"title":"House Price Shock and Business Cycle: The French Case","authors":"A. Saad, Ahmad Alqatan, M. Arslan","doi":"10.47743/SAEB-2021-0007","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0007","url":null,"abstract":"This study examined the relationship between house prices and the business cycle. Specifically, we examined the effect of house price and stock price in the French business cycle. After presenting the transmission channels from house price to the business cycle, we analyzed the cyclical properties of house prices and compared them with the Gross Domestic Product (GDP) cycle. The question arises: are fluctuations in economic activity more sensitive to a real estate price shock (property wealth effect) or a stock price shock (stock market wealth effect)? We collected the data over the 1980Q1-2015Q4 period and investigated the effects of house price and stock price shocks on French GDP by employing the Structural VAR model. We found the evidence that house price strongly affects the GDP cycle. Indeed, their response is significantly more important than the stock price, suggesting that the housing market might contribute to the persistent propagation of the shocks hitting the economic system. The study has important implications for both academia and policymakers and offers new insights into the French experience.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"115-127"},"PeriodicalIF":0.6,"publicationDate":"2021-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45636037","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}
引用次数: 0
What is Behind Extreme Negative Returns co-movement in the South Eastern European Stock Markets? 东南欧股市极端负收益共同运动的背后是什么？
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-03-22 DOI: 10.47743/SAEB-2021-0003
Dragan Tevdovski, Viktor Stojkoski
{"title":"What is Behind Extreme Negative Returns co-movement in the South Eastern European Stock Markets?","authors":"Dragan Tevdovski, Viktor Stojkoski","doi":"10.47743/SAEB-2021-0003","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0003","url":null,"abstract":"This paper examines co-movement of extreme negative returns in the South Eastern European (SEE) stock markets during the period covering the recent financial crisis and sovereign debt crisis. The analysis is based on negative co-exceedances - joint occurrences of negative extreme returns in different countries stock markets. To provide a valuable insight on how persistence, asset class, volatility and liquidity effects are related with negative co-exceedances in SEE markets we utilize a multinomial logistic regression procedure. We find evidence in favor of the continuation hypothesis in SEE stock markets. However, the factors associated with the co-exceedances differ between the SEE EU member countries and SEE EU accession countries. The EU member countries are more dependent on the signals from major EU economies, while the accession countries are mainly influenced by the signals from the region.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44572849","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}
引用次数: 4
The Effect of Economic Growth on Employment in GCC Countries 海湾合作委员会国家经济增长对就业的影响
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-03-22 DOI: 10.47743/SAEB-2021-0004
O. Ben-Salha, M. Zmami
{"title":"The Effect of Economic Growth on Employment in GCC Countries","authors":"O. Ben-Salha, M. Zmami","doi":"10.47743/SAEB-2021-0004","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0004","url":null,"abstract":"The objective of this research is to analyze the employment intensity of growth in six Gulf Cooperation Council countries between 1970 and 2017. To this end, a two-step econometric methodology is proposed. First, we estimate the time-varying employment intensity of growth using the time-varying parameters model based on the Kalman filter. Second, we identify the short and long-run determinants of the obtained employment intensity of growth using the Pooled Mean Group estimator. The analysis uncovers that elasticities range between 0.4 and 0.6 and has an increasing pattern over time. Findings reveal that in the long-run, the employment intensity is positively affected by trade liberalization, the share of services in GDP, the working-age population growth, and urbanization, while macroeconomic volatility has a negative impact. In the short-run, trade liberalization and natural resource rents exert adverse but weak effects on employment intensity. Based on these findings, some policy recommendations are drawn.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"25-41"},"PeriodicalIF":0.6,"publicationDate":"2021-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47886222","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}
引用次数: 5
An Empirical Model of Motivation for Social Entrepreneurship 社会创业动机的实证模型
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-03-22 DOI: 10.47743/SAEB-2021-0001
Sorin Blaga
{"title":"An Empirical Model of Motivation for Social Entrepreneurship","authors":"Sorin Blaga","doi":"10.47743/SAEB-2021-0001","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0001","url":null,"abstract":"This paper responds to calls for more empirical research in social entrepreneurship (SE) and aims to empirically establish the role of intrinsic, extrinsic, and complex motivations, alongside employment status and the existence of start-up capital on motivation for SE. A quantitative methodology is employed, using multiple linear regressions (MLR). Six hypotheses are tested and the results reported show that all variables have a positive effect on SE. For the first time, this study tested the “complex motivation” which has a positive impact on SE up to the level that intrinsic and extrinsic motivation, become non-significant.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47381419","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}
引用次数: 2
Assessing the Benefits of an ERP Implementation in SMEs. An Approach from the 评估中小企业实施ERP的好处。来自
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-03-22 DOI: 10.47743/SAEB-2021-0006
Raquel Pérez Estébanez
{"title":"Assessing the Benefits of an ERP Implementation in SMEs. An Approach from the","authors":"Raquel Pérez Estébanez","doi":"10.47743/SAEB-2021-0006","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0006","url":null,"abstract":"The aim of the present study is to investigate by first-hand the level of satisfaction of the CEOs with the ERP system testing the benefits of its implementation on the company in four aspects, accounting, organizational, external or internal, that the adoption of an ERP system may entail to small and medium sized enterprises. A survey was designed to measure the accountants’ perception of the level of implementation of ERP in their companies. The sample consisted on 175 accountants from Spanish companies. To identify the best explanatory variables in order to test the hypothesis, a discriminant analysis for dimensionality reduction was used, choosing the factorial analysis. Finally, a post hoc analysis to investigate which factors affect the user satisfaction of ERP in business was carried out using multiple regression method (backward stepwise). The empirical evidence from a web-based survey with 175 Spanish SMEs confirms that an ERP system brings a variety of benefits including organizational, external and internal to an SME, and focusing on accounting there are a number of accounting benefits derived from ERP systems particularly for accounting process. The findings will be valuable to any business that wants to implement an ERP deeper in small businesses. This work significantly contributes to the existing body of ERP benefits knowledge to the SMEs in the light of the resource-based view, strengthens the literature about the topic because the use of theories in ERP literature in SMEs is still very limited.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"63-73"},"PeriodicalIF":0.6,"publicationDate":"2021-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43865005","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}
引用次数: 5
Unemployment Hysteresis: Attached or Mismatched? 失业滞后：附加还是错配？
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-03-22 DOI: 10.47743/SAEB-2021-0005
Özdemir Onur
{"title":"Unemployment Hysteresis: Attached or Mismatched?","authors":"Özdemir Onur","doi":"10.47743/SAEB-2021-0005","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0005","url":null,"abstract":"This paper investigates the empirical significance of the unemployment problem whether it is structural or temporary on the basis of region-based, income-based and aggregate classifications of different countries for the yearly data from 1991 to 2018. In the first part of the paper, we examine the stationary position of unemployment series by way of using individual unit-root tests. Since the series are possibly subjected to the structural breaks, we also use additional approaches in which the effects of the break dates are checked in the analysis. Furthermore, we compare the initial findings of univariate unit-root tests along with panel unit-root testing procedures to critically assess the statistical validity of the hysteresis hypothesis in unemployment for given samples. The empirical findings imply that we cannot reject the hysteresis hypothesis for different classifications of the countries against the alternative of a natural rate even in the presence of structural breaks.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"1-24"},"PeriodicalIF":0.6,"publicationDate":"2021-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46534177","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}
引用次数: 0
The Impact of Audit Characteristics on Corporate Tax Avoidance: The Moderating Role of Gender Diversity 审计特征对企业避税的影响:性别多样性的调节作用
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2021-01-01 DOI: 10.47743/SAEB-2021-0002
Rakia Riguen, Bassem Salhi, Anis Jarboui
{"title":"The Impact of Audit Characteristics on Corporate Tax Avoidance: The Moderating Role of Gender Diversity","authors":"Rakia Riguen, Bassem Salhi, Anis Jarboui","doi":"10.47743/SAEB-2021-0002","DOIUrl":"https://doi.org/10.47743/SAEB-2021-0002","url":null,"abstract":"The purpose of this paper is to investigate the relation between audit characteristics and corporate tax avoidance and how board gender diversity (BGDs) moderates this relationship. Using a sample of 270 UK firms over the 2005-2017 period, we find that audit characteristics influence the corporate tax avoidance. Two of them (specialization and audit fees) had a negative effect; the other one (audit opinion, audit rotation) Have a positive effect on tax avoidance. We also find that BGDs moderates the effect of audit characteristics on corporate tax avoidance, except for audit opinion. The impact of the BGDs’ level increases as the presence of woman in the board escalated from 40 to 60 %, but then weakened at 10 % level. This study contributes to the existing literature and auditing practices by extending the auditing and tax literature on the examination of the moderating effect of board gender diversity on the relation between audit characteristics and corporate tax avoidance using the sensitivity analysis.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"68 1","pages":"97-114"},"PeriodicalIF":0.6,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70918095","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}
引用次数: 8
See Now, Buy Now Model: A Passport to Fashion Brand Equity 一口价模式：时尚品牌资产的通行证
IF 0.6
Scientific Annals of Economics and Business Pub Date : 2020-12-24 DOI: 10.47743/SAEB-2020-0028
Amélia Maria Pinto da Cunha Brandão, P. Dourado, Luis Palma Martos
{"title":"See Now, Buy Now Model: A Passport to Fashion Brand Equity","authors":"Amélia Maria Pinto da Cunha Brandão, P. Dourado, Luis Palma Martos","doi":"10.47743/SAEB-2020-0028","DOIUrl":"https://doi.org/10.47743/SAEB-2020-0028","url":null,"abstract":"In a market accentuated by globalization and digital consolidation, high fashion brands start to rethink the way of producing, communicating and distributing their supply, adopting the See Now, Buy Now (SNBN) model to guarantee the possibility of instant gratification. Literature has been scarce concerning SNBN as a new paradigm of contemporary fashion, more particularly, in what concerns its relationship with brand equity. This study seeks to identify the critical variables of SNBN and analyze its feasibility in production and consumption of fashion. It has applied a mixed and sequential methodology. The Portuguese case is worth analysing because of its similarities with countries where the fashion and creative industries' role is still uncertain, but still often mentioned and talked about. The results suggested that there is a positive relation between its adoption and brand equity – in particular a more hybrid strategy of adoption, considering its risks and investments.","PeriodicalId":43189,"journal":{"name":"Scientific Annals of Economics and Business","volume":"67 1","pages":"33-55"},"PeriodicalIF":0.6,"publicationDate":"2020-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41453904","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}
引用次数: 0
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