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Regional disparities in the spillover effect 地区差异的溢出效应
Business and Economic Horizons Pub Date : 2018-10-30 DOI: 10.15208/BEH.2018.67
Sylvie Kotíková
{"title":"Regional disparities in the spillover effect","authors":"Sylvie Kotíková","doi":"10.15208/BEH.2018.67","DOIUrl":"https://doi.org/10.15208/BEH.2018.67","url":null,"abstract":"The aim is to identify differences in spillovers between regions within the economy of the Czech Republic. Based on the choice of spillover effect determinants and a shift-share analysis, a regional spillovers indicator has been constructed. It was discovered the differences in the sizes of spillovers between the regions are increasing over time, which indicates deepening economic disparities. The main contribution is the constructed indicator identifying the different effects of FDI in different regions in order to better identify the strengths and weaknesses of the regions and better model economic policies to set up more effective support for the FDI inflows.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46004671","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
Estimates of structural unemployment rates at a regional level: example of the Czech economy 对区域一级结构性失业率的估计：以捷克经济为例
Business and Economic Horizons Pub Date : 2018-10-30 DOI: 10.15208/BEH.2018.66
V. Pošta
{"title":"Estimates of structural unemployment rates at a regional level: example of the Czech economy","authors":"V. Pošta","doi":"10.15208/BEH.2018.66","DOIUrl":"https://doi.org/10.15208/BEH.2018.66","url":null,"abstract":"While there are typically plenty of estimates of structural unemployment rate for an economy as a whole, the analysis of this phenomenon at the regional level is rather sparse. Of course, the task is quite different as the concept of structural unemployment as an image of the medium-run or long-run equilibrium of the economy does not need to hold at a regional level. This paper proposes an econometrical approach based on the search theory of the labor market. The generalized method of moments is employed to estimate the so-called stationarized unemployment rates in the fourteen regions of the Czech economy. By comparing the estimates and actually observed levels of unemployment rates, the effects of economic upswings and recessions after the year 2000 may be analyzed. Indeed, from the regional perspective the economic impacts differ substantially in certain periods of time.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46342011","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
Do financial development and personal remittances matter in South African economic growth? A bound testing investigation 金融发展和个人汇款对南非经济增长有影响吗?绑定测试调查
Business and Economic Horizons Pub Date : 2018-10-30 DOI: 10.22004/ag.econ.287240
Odunayo Magret Olarewaju, G. W. Akinola, Verna Yearwood
{"title":"Do financial development and personal remittances matter in South African economic growth? A bound testing investigation","authors":"Odunayo Magret Olarewaju, G. W. Akinola, Verna Yearwood","doi":"10.22004/ag.econ.287240","DOIUrl":"https://doi.org/10.22004/ag.econ.287240","url":null,"abstract":"This study explores the relationship amongst financial development, remittances and the economic growth of South Africa using quarterly data spanning the period 1995Q01 to 2015Q04. The study used Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) techniques for the unit root test and the variables were found to be stationary at level and at first difference. Findings from the Autoregressive Distributed Lag (ARDL) bound testing approach to co-integration revealed that a long-run relationship exists amongst these variables. Also, the Error Correction Model (ECM) showed that it required a 36% quarterly speed for maladjustment in the model to return equilibrium. This study concluded that the financial development sector should be improved to engender sufficient and adequate performance that would led to an effective impact of a long-run GDP growth. An increase in the gross capital formation that could lead to a long-run decrease in GDP growth should be avoided. Policy makers should formulate policies that could improve financial development in order to enhance the country’s economy to reap the potential gain of remittance which could enhance economic growth.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44329530","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: 1
Is there any causality between Islamic banks’ return on depositors and conventional banks’ deposit interest: Evidence of causality from Bahrain’s financial market 伊斯兰银行的存款回报率和传统银行的存款利息之间有因果关系吗？来自巴林金融市场的因果关系证据
Business and Economic Horizons Pub Date : 2018-09-24 DOI: 10.15208/BEH.2018.61
A. Samad
{"title":"Is there any causality between Islamic banks’ return on depositors and conventional banks’ deposit interest: Evidence of causality from Bahrain’s financial market","authors":"A. Samad","doi":"10.15208/BEH.2018.61","DOIUrl":"https://doi.org/10.15208/BEH.2018.61","url":null,"abstract":"Unlike conventional banks' interest payment on deposits, Islamic banks do not pay interest to depositors. What they pay to depositors is called the rate of return to depositors. Does the rate of return of Islamic banks on deposits follow conventional banks' interest rates? This paper empirically investigates the relationship of causality and the causal direction between conventional banks' interest rate and Islamic banks' return applying VEC model. The results of the VAR Granger Causality/Block Exogeneity Wald Tests fail to reject the null hypothesis of bidirectional causality between Islamic banks' rate of return and conventional banks' interest. The pairwise Granger causality also confirms the same results. This suggests that Islamic banks' rate of return and the conventional banks' interest rate are not independent of each other rather they follow each other in the Bahrain financial market.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48453654","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: 7
Efficiency as a new ideology of trust-building corporate governance 效率:建立信任的公司治理新理念
Business and Economic Horizons Pub Date : 2018-09-24 DOI: 10.15208/BEH.2018.62
M. Brychko, A. Semenog
{"title":"Efficiency as a new ideology of trust-building corporate governance","authors":"M. Brychko, A. Semenog","doi":"10.15208/BEH.2018.62","DOIUrl":"https://doi.org/10.15208/BEH.2018.62","url":null,"abstract":"Though the ideology of efficiency has been investigated for many centuries, still it has not gained a clear definition and interpretation either in the scientific literature, or in the practice of corporate governance. This paper seeks to examine the mainstream theories of corporate governance in an attempt to suggest that efficient corporate governance has no logical claim to \"objectivity\" and it does not always contribute to trust-building. The purpose of this paper is to explore the ideology of efficiency, both with respond to its inconsistency and incoherence within trust-building corporate governance. The results suggest that efficiency is ideological and political concept that fails in repairing the breach of trust-building corporate governance. The efficiency as a new ideology of trust-building corporate governance promises to advance our understanding of corporate purpose beyond the old \"shareholders-versus-stakeholders\" and \"shareholders-versus-society\" debates.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43627045","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
Assessing the financial security of the engineering enterprises as preconditions of application of anti-crisis management: practical aspect 评价工程企业财务安全是应用反危机管理的前提:实践方面
Business and Economic Horizons Pub Date : 2018-09-15 DOI: 10.15208/BEH.2018.63
O. Sylkin, A. Shtangret, O. Ogirko, Aleksander Melnikov
{"title":"Assessing the financial security of the engineering enterprises as preconditions of application of anti-crisis management: practical aspect","authors":"O. Sylkin, A. Shtangret, O. Ogirko, Aleksander Melnikov","doi":"10.15208/BEH.2018.63","DOIUrl":"https://doi.org/10.15208/BEH.2018.63","url":null,"abstract":"Today, engineering enterprises in Ukraine are experiencing poor development. The crisis development of many domestic engineering enterprises is reinforced by both internal and external factors, so it is critical to develop new methodologies to comprehensively estimate their level of financial security, thus serving as the information basis for the application of anti-crisis management. The objective of the study is to develop a model to assess the financial security of engineering enterprises. The subjects of the study are the activities of the top ten engineering enterprises in Ukraine for the period 2013-2017. The purpose of our research is to form a methodical approach to assess the financial security of engineering enterprises, which would become the basis for applying a certain type of anti-crisis management and encouragement in domestic engineering enterprises. The results of the study made it possible to form and implement a model to assess financial security, which will help to establish the need to apply anti-crisis management in an enterprise.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":"49 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67084451","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: 44
The effect of internal control on asset misappropriation: The case of Vietnam 内部控制对资产侵占的影响:以越南为例
Business and Economic Horizons Pub Date : 2018-09-15 DOI: 10.15208/BEH.2018.64
M. Tran, Thi Thai Ha Le
{"title":"The effect of internal control on asset misappropriation: The case of Vietnam","authors":"M. Tran, Thi Thai Ha Le","doi":"10.15208/BEH.2018.64","DOIUrl":"https://doi.org/10.15208/BEH.2018.64","url":null,"abstract":"Asset misappropriation is a kind of fraud that may cause severe damages to the businesses. The internal control system is expected to provide a reasonable assurance for the management of the businesses in preventing and detecting frauds, including asset misappropriation. The study is conducted to examine the effect of internal control system on asset misappropriation in Vietnamese firms. Based on questionnaires collected from internal auditors, accountants and department managers in Vietnamese firms, the study assess the impact of COSO five internal control components on the popularity of asset misappropriation in the firms. The results show that of the five components, control environment presents the strongest impact, followed by control activities, information and communication in respective order. Determinants with the mildest impact are risk assessment and monitoring of control. Based on the findings, it is important that the management of the firms improve the internal controls to effectively reduce the chance of fraud in their firms.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48032382","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: 14
An analysis of the relationship between foreign direct investment (FDI), political risk and economic growth in South Africa 南非外商直接投资(FDI)、政治风险和经济增长关系分析
Business and Economic Horizons Pub Date : 2018-08-16 DOI: 10.15208/BEH.2018.54
D. Meyer, T. Habanabakize
{"title":"An analysis of the relationship between foreign direct investment (FDI), political risk and economic growth in South Africa","authors":"D. Meyer, T. Habanabakize","doi":"10.15208/BEH.2018.54","DOIUrl":"https://doi.org/10.15208/BEH.2018.54","url":null,"abstract":"A country’s political stability and trends in economic growth are important factors to attract foreign investment. Most developing countries struggle to achieve political stability and high levels of growth. Due to these issues, developing countries attract limited foreign investment. Applying the Bounds test for cointegration, an ARDL model was utilized using time series data from 1995 to 2016, this study examined the potential impact of political risk and gross domestic product (GDP) on foreign direct investment (FDI) flows to the South Africa. Findings of the study revealed that in both short and long run, political risk and economic growth affect the level of foreign direct investment. The political risk rating was found to have a higher impact on FDI flow if compared to GDP. The lower the political risk level (resulting in a highly rated index), the higher the level of FDI inflows. Using the Granger causality approach, empirical results indicated a bi-directional causal relationship between FDI and economic growth, while it was found that political risk causes changes in FDI. In other words, individually, political risk and gross domestic product cause changes in FDI. Based on the study findings, it is imperative for the South African government to reduce the level of political risk in order to increase foreign investment into the country which, in return, could assist in economic growth and welfare.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46798234","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: 12
Can disclosure practices and stakeholder management influence zakat payers’ trust? A Malaysian evidence 披露实践和利益相关者管理会影响天课支付人的信任吗？马来西亚证据
Business and Economic Horizons Pub Date : 2018-08-16 DOI: 10.15208/BEH.2018.60
Nahla Samargandi, Sakinah Mohamed Tajularifin, E. Ghani, A. Aziz, A. Gunardi
{"title":"Can disclosure practices and stakeholder management influence zakat payers’ trust? A Malaysian evidence","authors":"Nahla Samargandi, Sakinah Mohamed Tajularifin, E. Ghani, A. Aziz, A. Gunardi","doi":"10.15208/BEH.2018.60","DOIUrl":"https://doi.org/10.15208/BEH.2018.60","url":null,"abstract":"This study examines whether disclosure practices and stakeholder management play an important role in influencing the zakat payers' trust in the zakat institutions in Malaysia. A regression analysis was performed to examine the relationship between disclosure practices and stakeholder management of the zakat institutions on zakat payers' trust. Using questionnaire survey on 184 zakat payers, this study shows that the disclosure practices do influence the zakat payers' trust in the zakat institutions. However, it is revealed that stakeholder management does not influence the zakat payers' trust in zakat institutions. The findings in this study imply that the zakat institutions should focus on the transparency of disclosure practices. The findings in this research could assist the zakat institutions to increase the trust level of the zakat taxpayers towards them and assist the policy makers in establishing zakat institutions which would be perceived by the public as legitimate.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42553456","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: 16
Long-Term Memory in Euronext Stock Indexes Returns: an Econophysics Approach 长期记忆在泛欧交易所股票指数回报:一个经济物理学的方法
Business and Economic Horizons Pub Date : 2018-08-16 DOI: 10.15208/BEH.2018.59
Luís Gomes, V. Soares, S. Gama, J. Matos
{"title":"Long-Term Memory in Euronext Stock Indexes Returns: an Econophysics Approach","authors":"Luís Gomes, V. Soares, S. Gama, J. Matos","doi":"10.15208/BEH.2018.59","DOIUrl":"https://doi.org/10.15208/BEH.2018.59","url":null,"abstract":"The purpose of paper is to assess the long-term memory of stock index returns in the pan-European platform Euronext (CAC-40, AEX, BEL-20 and PSI-20). We find evidence of time dependency in much of the data, suggesting that the series may best be described as fractional Brownian motion. Modified Rescaled-Range Analysis and Detrended Fluctuation Analysis were used to measure the degree of long memory. The global Hurst exponents evidence persistent long memory in the Dutch, Belgian and Portuguese markets. In the French market, evidence of long memory is inconsistent and weak. Fractal structure suggests non-conformity with the Efficient Market Hypothesis, and may compromise the reliability of asset pricing models. Furthermore, time-dependent Hurst exponents show evidence of weakening persistence in these markets, particularly after the international crises of 2000, 2002 and 2010. A possible explanation for those changes is that the markets may have matured over time, becoming more efficient after these severe events.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":"14 1","pages":"862-881"},"PeriodicalIF":0.0,"publicationDate":"2018-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47761192","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
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