Contemporary Economics最新文献

{"title":"Effect of Participation in Development Initiatives on Competitive Advantages, Performance, and Sustainability of Micro-Enterprises in Malaysia","authors":"A. Mamun, Rajennd Muniady, N. Nasir","doi":"10.5709/CE.1897-9254.439","DOIUrl":"https://doi.org/10.5709/CE.1897-9254.439","url":null,"abstract":"This study assessed the impact of micro-enterprise development initiatives (commonly provide access to financial services and micro-enterprise development training programs to low-income households) upon competitive advantages, performance, and sustainability of micro-enterprises owned and managed by selected low-income households in Peninsular Malaysia. Upon the adoption of cross-sectional design, data were randomly gathered from 300 micro-entrepreneurs residing in four states of Peninsular Malaysia selected from the eKasih database (national poverty data bank). The quantitative data had been collected by holding structured interview sessions with the participants from October until November 2017. The study outcomes revealed that the total amount of economic loan received, the total number of training hours and the number of center meetings/discussion attended exerted significantly positive effects upon competitive advantage, while marital status (control variable) was found to affect competitive advantage in a significantly positive manner. As for micro-enterprise performance, length of participation and number of center meetings/discussions attended as well as marital status as the control variable exhibited significantly positive effects. Meanwhile, the impact of participation duration, total amount of economic loan received, and number of center meetings/discussions attended upon micro-enterprise sustainability seemed to be inconclusive. Additionally, age of entrepreneurs and duration of enterprises establishment (micro-enterprise established) appeared to affect the aspect of sustainability. The findings appear to emphasize on the mixed effects of participation in development initiatives on competitive advantage, performance, and sustainability of micro-enterprises. Hence, this study recommends that the government of Malaysia formulate and adopt more specific strategies and policies in advocating development initiatives to ensure positive progression amongst micro-entrepreneurs and micro-enterprise owners.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"1 1","pages":"122-137"},"PeriodicalIF":2.1,"publicationDate":"2021-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90122960","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":"Examination of the Relationship between Derivative Financial Instruments and the Economic Development of Lithuania","authors":"Kristina Garškaitė-Milvydienė, Raimonda Martinkutė-Kaulienė","doi":"10.5709/CE.1897-9254.446","DOIUrl":"https://doi.org/10.5709/CE.1897-9254.446","url":null,"abstract":"Derivative financial instruments play a major role in financial markets. However, there are rather contradictory views regarding this issue. Their impact on the financial markets, their stability and the economy have not been thoroughly examined. The aim of this paper is to analyse derivatives and the economic situation in the country and to investigate the relationship between the derivatives and the macroeconomic factors which have the greatest impact on the volume of the derivatives. The paper analyses derivatives statistics and macroeconomic indicators in Lithuania. As a result, the relationship between the derivatives and the country’s macroeconomic indicators is examined by identifying the most significant factors, as the structure and volume of derivatives in different markets may be determined by different macroeconomic factors. The performed analysis and estimation have shown that foreign direct investment has the largest impact on the derivatives, their volume and structure, and average earnings have the least impact.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"37 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76149337","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":"Failed Attempt to Break Up the Oligopoly in Sovereign Credit Rating Market after Financial Crises","authors":"A. Malewska","doi":"10.5709/CE.1897-9254.441","DOIUrl":"https://doi.org/10.5709/CE.1897-9254.441","url":null,"abstract":"For decades, the credit rating market has been dominated by three major agencies (Moody's, S&P and Fitch Ratings). Their oligopolistic dominance is especially strong in sovereign credit ratings industry, where they hold a collective global share of more than 99%. Global financial crisis and the Eurozone sovereign debt crisis exposed serious flaws in rating process and forced public authorities to act. This study investigates effectiveness of new regulations adopted in the United States and in the European Union after financial crises in terms of reducing oligopolistic dominance of the “Big Three” in sovereign credit ratings market. The study applies descriptive statistical analysis of economic indicators describing concentration rate in a market, as well as content analysis of legal acts and case study methodology. Analysis shows that the Dodd-Frank reform and new European rules on supervision of credit rating agencies were not effective enough and did not lead to the increased competition in the market. The evidence from this study is explained using two alternative perspectives – economic theory of natural oligopoly and hegemonic stability theory coming from international relations field.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"52 1","pages":"152-163"},"PeriodicalIF":2.1,"publicationDate":"2021-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87777308","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":"Personnel Factors of Corporate Internal Auditing on the Contemporary Microeconomics Environment in the United States","authors":"Victor W Gaines, Karina Kasztelnik","doi":"10.5709/CE.1897-9254.440","DOIUrl":"https://doi.org/10.5709/CE.1897-9254.440","url":null,"abstract":"The purpose of this quantitative, correlational research was to examine to what extent the personnel factors of internal auditing departments predict the control environment within the public sector. Using the 2013 COSO Internal Control-Integrated Framework as the theoretical framework, we addressed the extent to which the internal audit staffing size per engagement, professional development, and auditing experience of auditors predict the overall control environment and each of the five components of COSO. The results of six multiple linear regression models showed no statistically significant with the exception between professional development and Principle 4 - Recruitment. A nonparametric Kendall’s tau-b correlation analysis revealed a significant relationship between professional development and Principle 4 Recruitment, τb = 0.388, p = 0.030. The results of this study may contribute to the positive global economy change by bringing into focus the role of auditing and its positive impact on the worldwide public auditing policy.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"22 1","pages":"138-152"},"PeriodicalIF":2.1,"publicationDate":"2021-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84524170","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":"Cautionary Note About the Herfindahl-Hirschman Index of Market (Industry) Concentration","authors":"T. O. Kvålseth","doi":"10.5709/ce.1897-9254.468","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.468","url":null,"abstract":"The Herfindahl-Hirschman index (HHI) appears to be the most widely used index of market or industrial concentration. It is a summary measure that indicates the degree of competition, market power, and efficiency within a market or an industry. The HHI is also used by government agencies when evaluating potential violation of antitrust laws and regulations. As emphasized in this paper, and in spite of its several desirable properties, HHI has one serious imitation: it lacks the value-validity property. Lacking this property, caution has to be exercised when using HHI in order to avoid invalid and misleading results and conclusions. A corrected index is developed as a simple reformulation of HHI. Since this new index formulation meets the conditions imposed by the value-validity property to a high degree of approximation, and has other desirable properties comparable to those of HHI, the corrected index can safely be used to make various types of comparisons that are true and valid representations of market (industry) concentration. Numerical data are provided to support and exemplify the use of the corrected index.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"26 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87449629","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":"Assessment of Progress Towards 20-20-20 Targets: Evidence from Baltic States","authors":"D. Štreimikienė","doi":"10.5709/ce.1897-9254.473","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.473","url":null,"abstract":"The 2020 climate and energy package adopted in 2009 sets three key targets for EU Member States: 20% cut in greenhouse gas emissions (from 1990 levels); to ensure 20% of renewables in final energy consumption and to achieve 20% improvement in energy efficiency from 2005 levels. The paper analyses the progress of selected countries in achieving climate and energy targets by 2020. Baltic States, namely Lithuania, Latvia, and Estonia were selected for comparative assessment of their achievements in GHG emission reduction, energy efficiency improvement and use of renewable energy sources. Indicator’s framework was constructed to capture the most important drivers of GHG emission reduction from fuel combustion. These indicators allow to compare countries in their achievements by assessing their main energy and climate change policies. The analysis and comparison of the trends of the main indicators allows to define the best performing country and the reason of this. Policy implications were developed for Baltic States to pursue further progress in achieving energy and climate targets for 2030 and 2050.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"39 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89255821","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":"Employee’s Behavioral Opportunism and Alienation: Exploring the Factors","authors":"D. Pletnev, E. Kozlova","doi":"10.5709/ce.1897-9254.471","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.471","url":null,"abstract":"The article aims to identify factors influencing the behavioural opportunism and alienation of Russian employees. The study is based on a survey of 298 Russian employees, conducted in October 2020. Normalized indicators were used to assess the alienation degree, opportunism willingness and opportunism level, based on processing the respondents’ answers; the Z-test was used for statistical analysis of these indicators, and to examine the influence of 14 social and organizational factors on alienation and opportunism. The study showed that employees’ alienation degree is influenced by marital status, having children, motivation type, organization size, work in a managerial position, position and salary improvement, and Adizes’ management styles. Their opportunism willingness is influenced by gender, age, management style, organization-side work experience, and position improvement. The results support the hypotheses of the interdependence of opportunism level and age, marital status, motivation type, organization size, and salary improvement. It was found that education level, job profile and diploma compliance, and ownership do not affect alienation and opportunism. The research results can help develop corporate programmes to increase employees’ involvement in solving corporate problems and reducing opportunism.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"105 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79448622","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":"National Identity and Economic Activity of Ukrainian Population: Relationship and Differences in the Regions","authors":"Ievhen Ovcharenko, I. Semenenko","doi":"10.5709/ce.1897-9254.465","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.465","url":null,"abstract":"This research examines the relation between the levels of national identity of Ukrainians in different regions of the country and the current state of their economic activity. The study explores whether the changes in economic activity of Ukrainian population are related to the changes in the level of its national identity. We used the results of the national poll, conducted by the sociological agency in Ukraine, together with data from State Statistics Service in Ukraine. The indicators of linguistic, civic and cultural identity were compared to regional human development indices, and indicators of socio-demographic status and economic activity of population in five aggregative regions in Ukraine. The results showed how differently people within the same country perceive social and economic standards of living and have various perceptions of the basis of their own national identity. This affects the processes of national identification and establishment of emphasis in regional development paths, as well as contributes to definition of the most relevant to a particular region levers of economic influence on the processes of national identification.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"1 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89161378","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":"Accounting for Holdings of Cryptocurrencies in the Slovak Republic: Comparative Analysis","authors":"Miriama Blahušiaková","doi":"10.5709/ce.1897-9254.466","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.466","url":null,"abstract":"Cryptocurrency has attracted more attention recently. With the rapid increase in popularity of cryptocurrencies´ transactions it is necessary to adopt a unified approach to this novel, 21st century phenomenon. Since 2009, when the first cryptocurrency Bitcoin was created, thousands of other cryptocurrencies have appeared. As the transactions with cryptocurrencies have increased, national and multinational jurisdictions started to deal with issues concerning taxation and accounting for the cryptocurrency. Multinational jurisdictions and professional institutions differ in their opinions about cryptocurrencies. There are opinions considering cryptocurrency a financial asset, a financial instrument, cash, cash equivalents, inventories or intangible asset. As there is no accounting standard within IFRS specifically addressing cryptocurrency, it is necessary to look at the existing IFRS and apply a principles-based approach. The aim of the paper is to compare the accounting of cryptocurrencies in Slovakia with the requirements and/or recommendations by other standards setters and authorities. Slovakia is selected as it is one of the first countries launching accounting regulation for cryptocurrency. The analysis and comparison are used as the main scientific methods in this study. The IFRS IC in June 2019 concluded that IAS 2 applies to cryptocurrencies when they are held for sale in the ordinary course of business. If IAS 2 is not applicable, holdings of cryptocurrencies should be accounted for under IAS 38. The Slovak Republic is applying different approach to holdings of cryptocurrency, the cryptocurrency is considered the short-term financial asset. Difference between Slovak and multinational solution is even in questions of cryptocurrency´s measurement.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"24 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78570525","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":"Monitoring of Economic Indicators in the Context of Financial and Economic Crises","authors":"D. Sinković, Sebastian Zemla, Nataniel Zemla","doi":"10.5709/ce.1897-9254.469","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.469","url":null,"abstract":"Financial and economic crises repeat themselves at indefinite intervals. As in the Great Recession (also known as Subprime Crisis) of 2007/2008 there was a bundle of events and processes that preceded it and contributed to its emergence, whether it be economic, political, or ideological. Based on observations presented in this paper, explanations are suggested that crises are significantly related to the development of various indicators. Relevant indicators include the impact of economic indicators (e.g., GDP, key interest rates, debt ratios), capital markets and - as the current Corona Crisis shows - supposedly unforeseen factors or shocks. The study deals with a comparative analysis of indicators regarding both crises and the Great Depression, with the aim of identifying possible trends or patterns. It uses a comparative method and reveals some significant similarities. This insight can be seen as a support for the birth of further crises. The work aims to provide a contribution to current crisis research in a comparative context and to advance findings in the field of early warning and crisis education.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"1 1","pages":""},"PeriodicalIF":2.1,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73657938","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}