{"title":"ON OPTIMIZATION OF MANUFACTURING OF PRODUCT TO OBTAIN MAXIMAL VALUE OF PROFIT TAKING INTO ACCOUNT CHANGING OF PRICES","authors":"E. Pankratov","doi":"10.1142/s2194565922500014","DOIUrl":"https://doi.org/10.1142/s2194565922500014","url":null,"abstract":"In this paper, we introduce a model for the prognosis of profit of an enterprise taking into account several types of products. Also, we introduce an approach for maximization of the considered profit with an analytical approach for estimation of the maximum value of profit of an enterprise taking into account several types of products. Profit maximization gives a possibility to take into account changes in the price of products on the market. As an example, we consider the estimation of profit for the accounting of three types of products. But the introduced approach gives a possibility to change a number of products.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"51 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88546733","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 E-GOVERNMENT A DRIVER OF FINANCIALIZATION: EMPIRICAL EVIDENCE FROM EUROPEAN COUNTRIES","authors":"Leavitt Ha, N. Huyen","doi":"10.1142/s2194565921500172","DOIUrl":"https://doi.org/10.1142/s2194565921500172","url":null,"abstract":"This study is the first to empirically examine the linkage between e-Government and financial development. We utilize three indicators, including user centricity, business mobility, and key enablers to capture a digital process in the public sector, and their effects are analyzed on financial markets, institutions, and both. By employing an international sample of 26 European countries, we demonstrate the positive impacts of e-Government, especially the user centricity on the financialization. Furthermore, e-Government has the strongest influence on financial institutions.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"21 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76083041","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 SPILLOVER, RISK AND LEVERAGE EFFECTS OF SMART BETA MANAGEMENT EXCHANGE-TRADED FUND (ETF)","authors":"Jo-Hui Chen, Nicholas Edwards","doi":"10.1142/s2194565921500160","DOIUrl":"https://doi.org/10.1142/s2194565921500160","url":null,"abstract":"This research uses two different GARCH models to measure spillover, risk, and leverage effects of active, passive, and smart beta management Exchange-traded Funds (ETFs). The increase in popularity of ETFs and new categories within them, specifically the growth of smart beta management, means asset managers and investors have new metrics to account for when determining portfolio exposure following the Adaptive Investment Approach (AIA). The results show significant relationships among all groups regarding the spillover. A trend of positive multi-lateral spillover of returns among the three management types including passive, active and small beta is observed with smart beta showing the highest percentage of a bi-lateral positive effect. The strongest spillover of volatility effects is among the actively managed ETFs. The testing of risk results is insignificant, but the leverage effect results are consistent with the past studies showing the significant negative bi-lateral effect.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89798772","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":"HOW THE EXCHANGE RATE REGIME AFFECTS ADJUSTMENT TO LARGE OIL PRICE SWINGS IN OIL EXPORTING COUNTRIES","authors":"Majed S. Almozaini","doi":"10.1142/s2194565921500159","DOIUrl":"https://doi.org/10.1142/s2194565921500159","url":null,"abstract":"The aim of this study is to analyze how oil price shocks affect the economic growth of floating exchange rate regimes and fixed exchange rate regimes in oil-exporting countries with a ratio of oil exports to total exports exceeding 70%. Also, this study seeks to determine what monetary and fiscal policies both regimes apply in order to curb business cycles and reduce inflationary and recessionary gaps. The analytical study uses panel data for the period from 1991 to 2019, covering 24 oil-exporting countries, from the World Economic Outlook (WEO) database and World Bank. The econometric model is estimated by applying a panel VECM to examine the short- and long-term interdependencies in the macroeconomic variables. The results demonstrate that when there is a negative shock to the oil price, the exchange rate of the floating exchange rate regimes depreciates, money supply increases, and government spending decreases. In contrast, the exchange rate of the fixed exchange rate regimes fluctuates slightly; the money supply slightly decreases in the near, medium, and long term; and government spending decreases.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"20 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91306387","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":"GENDER, BOARD, AND WORKING CAPITAL","authors":"Matthew Imes, Ofra Bazel-Shoham","doi":"10.1142/s2194565921500147","DOIUrl":"https://doi.org/10.1142/s2194565921500147","url":null,"abstract":"This paper examines the effects of gender board diversity on working capital. The study uses a sample of S&P1500 firms, resulting in 9,157 firm-year observations from 2005 to 2019. Our findings show that greater gender diversity on corporate boards is associated with lower liquidity ratios, including lower non-cash ones. The results are robust to a battery of gender board diversity definitions and to a 2SLS analysis which employs the gender ratio in the county’s population in which the firm is headquartered as an instrumental variable. Based on additional tests of the effects of gender board diversity on managerial efficiency ratios, we conclude that the results are driven by superior monitoring associated with gender diversity on the board.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"22 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86505406","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}
Grace Nkansa Asante, Gideon Amankwah, Godwill BRUCE NYARKOH, Samuel Tawiah Baidoo
{"title":"SUBSTITUTABILITY BETWEEN GOVERNMENT AND PRIVATE CONSUMPTION IN SUB-SAHARAN AFRICA","authors":"Grace Nkansa Asante, Gideon Amankwah, Godwill BRUCE NYARKOH, Samuel Tawiah Baidoo","doi":"10.1142/s2194565921500123","DOIUrl":"https://doi.org/10.1142/s2194565921500123","url":null,"abstract":"The question of whether private and public consumption are complements or substitutes has been an issue of concern and hence, attracted the attention of researchers and policy think tanks. This study therefore investigates this important phenomenon within the context of sub-Saharan Africa (SSA) to inform the design of fiscal policy measures. Using panel data spanning the period 1981–2016 for 21 sub-Saharan African countries, the results indicate that, government and private consumption are substitutes. This indicates that government spending crowds out private consumption in the sub region. Vital policy implications have been provided for consideration based on the findings.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"11 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81503878","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}
Leavitt Ha, Hoang Phuong Dung, P. H. Chuong, To Trung Thanh
{"title":"GLOBAL ECONOMIC SANCTIONS, GLOBAL BANK LINKAGES AND INFORMATION ASYMMETRY: AN EVIDENCE FROM CROSS-COUNTRY DATA","authors":"Leavitt Ha, Hoang Phuong Dung, P. H. Chuong, To Trung Thanh","doi":"10.1142/s2194565921500111","DOIUrl":"https://doi.org/10.1142/s2194565921500111","url":null,"abstract":"This paper investigates the effects of global economic sanctions (GESs) on global bank linkages (GBLs) by using 4,032 pairs of 66 countries during the 2001–2013 period. We use the structural gravity model combining with the rich database of the Global Sanction Data Base introduced by Felbermayr et al. [(2020). The global sanctions data base. European Economic Review, 129, 1–23]. Our empirical results show a negative association between the GESs and GBLs. The differential effects of GESs on the GBLs are conditional on the sanction types. Furthermore, the consequences of global sanctions become more severe for countries featuring higher information asymmetries, captured either by a high level of world uncertainty, an occurrence of crisis and shocks or by a weak institutional system. Our results are robust and reliable when we use an alternative measure of bank connections, and in the context of controlling the potential endogeneity of global sanction.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"102 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91368618","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":"DIGITAL DEVELOPMENT AND ITS IMPACT ON REGIONS’ COMPETITIVENESS","authors":"S. Pyankova, M. Troyanskaya, Y. Tyurina","doi":"10.1142/s219456592150010x","DOIUrl":"https://doi.org/10.1142/s219456592150010x","url":null,"abstract":"This study aimed to assess the impact of digital development on the competitiveness indicators of countries and regions. The research methodology was based on the analytic hierarchy process (AHP), a structured technique adapted to solve the nonlinear optimization problem by choosing the most suitable scenario for the public administration of regions’ digital development. The analysis of digital competitiveness across European countries revealed that its development is quite uneven. Within the European Union, both digitalization leaders and outsiders were noted. Modeling three digitalization scenarios for Russia, China, the United States and the countries of Europe allowed defining Scenario 3 (accelerated digitalization) as the best way for managing their development in the context of digital transformation. The significance of the conducted research lies in the fact that it distinguished the digital economy components affecting both digital and overall regions’ competitiveness. The results obtained can be taken advantage of by individuals engaged in the field of economic activity to determine the role of various organizations, strategic levers, and indicators that ensure an effective response to challenges of competition in the regional and global markets.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"48 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82398282","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":"CHINESE FOREIGN TRANSACTIONS: WHAT GETS THEM IN TROUBLE?","authors":"Vikkram Singh","doi":"10.1142/s219456592150007x","DOIUrl":"https://doi.org/10.1142/s219456592150007x","url":null,"abstract":"This study offers an understanding of the Chinese enterprises’ internationalization strategies using transaction data. A logit model estimates the determinants of Chinese transactions in trouble due to regulatory hurdles in understanding the prevailing trends. The results identify factors such as transaction size, sectors deemed national security, domestic competition (for the SOEs) and divergence in the perception of Chinese political influence. This study provides novel insights into the risks Chinese policymakers and firms need to recognize and formulate policies to prevent and mitigate them.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"160 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76626136","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":"FOREIGN CAPITAL AND DOMESTIC FUNDING CONDITIONS: A MUNDELLIAN TRILEMMA PERSPECTIVE","authors":"Aleksandar Stojkov, Thierry Warin","doi":"10.1142/s2194565921500081","DOIUrl":"https://doi.org/10.1142/s2194565921500081","url":null,"abstract":"This study investigates and evaluates the impact of global funding conditions on private sector credit growth and controlling for the Mundellian Trilemma configuration. We contribute to the empirical literature by investigating the role of other conditioning factors such as the size of economies and their level of economic development. The more specific research goals are as follows: (i) To explore the different Trilemma configurations by income group and size of the economies; (ii) to enrich international macroeconomics literature on the role of Trilemma configurations and countries’ idiosyncrasies in assessing the impact of global financial conditions; and (iii) to formulate policy-relevant conclusions. We argue that — when assessing the impact of global financial conditions — the exchange rate regime and financial openness matter and the size of the economy and its income level. The high volatility in gross and net international capital flows redefined many trilemma configurations in the Great Recession aftermath. Many countries decided to shield their financial markets by reducing the degree of financial openness and moving toward intermediate or middle-ground positions in their Trilemma configurations.","PeriodicalId":44015,"journal":{"name":"Global Economy Journal","volume":"60 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78693927","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}