European Journal of Economics and Business Studies最新文献

{"title":"Process of Formation of the Legal Environment for Marketing in Georgia","authors":"Babulia Mghebrishvili","doi":"10.2478/ejes-2018-0059","DOIUrl":"https://doi.org/10.2478/ejes-2018-0059","url":null,"abstract":"Abstract The article emphasizes significance of the laws within the legal framework for performing marketing activities, timely solution of the problems and protection of the consumers’ interests. The author describes the process of development of the legal framework for business in Georgia and pays particular attention to the activities performed after signing and effectiveness of the Association Agreement with the European Union. With respect of protection of the consumers’ rights, the article provides analysis of Georgian laws: Code of Food Safety and Free Circulation, Code of Food/Animal Fodder Safety, Veterinary and Plants Protection, Georgian Law on Advertising, Technical Regulation on Additional Requirements to Labeling of Food Products, Technical Regulations on Providing Information on the Products to the Consumers. In the author’s opinion, significant weakness of the legislation affecting marketing is the fact that Georgian Law on Protection of Consumers’ Rights suspended in 2012 has not been enacted yet while the draft law is ready and published. On the basis of analysis of legal framework the author concludes that the consumers’ rights, in general, are protected in the country by the effective legislation but the main thing is not only existence of the laws but rather their enforcement. For this purpose, states the article, Georgian government has adopted the resolution (2015) Food/Animal Fodder Safety State Control Rule, according to which the relevant state structures control the respective businesses and protect the consumers’ rights in this way. The process of improvement of the legal basis affecting marketing in Georgia is still in progress.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134269028","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":"Bitcoin and Blockchain: A Threat or Opportunity for the Financial System","authors":"Gonca Atici","doi":"10.2478/ejes-2018-0063","DOIUrl":"https://doi.org/10.2478/ejes-2018-0063","url":null,"abstract":"Abstract As world economy evolved over years, barter which is a primitive transaction system left its place to money system. Commodity and bimetallic systems of money resolved the problems, especially the requirement of double coincidence of wants and eased the trade within parties. Chronologically, paper system of money followed the commodity system and implemented via two methods. In the first method, convertible paper money is converted into gold and silver by the authority that issued paper money. In the second method that is still valid today, fiat money is accepted by parties because of its being a legal tender. Money supply definitions keep changing as new liquid assets emerge day by day. Especially after the post global financial crisis, central banks have a more critical function for the world economies. Keeping all these developments aside, surrounded by fintech trends, financial system has confronted with a new instrument bitcoin that is first introduced in 2009. Though there are still too many consideration about this new financial instrument, number of bitcoins has growing since 2009 and has reached almost 17 million as of September 2018. Some economists consider bitcoin and other cryptocurrencies as a threat especially for central banks’ emission power. In this study we try to shed light to bitcoin, other cryptocurrencies and blockchain technology with regard to their evolvement and whether they pose a threat or provide an opportunity to the financial system.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116640982","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":"Information of the Financial Statements Disclosures - Case of Albania","authors":"Mirela Ujkani Miti, Nertila Çika, Sotiraq Dhamo","doi":"10.2478/ejes-2018-0061","DOIUrl":"https://doi.org/10.2478/ejes-2018-0061","url":null,"abstract":"Abstract Since 2008 in Albania, financial reporting is carried out based on international standards and national accounting standards, which are in compliance with International financial reporting standards. In our paper, we want to focus on the \"Financial Statements Disclosures\" as one of the components of the full package of financial statements. Often there is an erroneous view or attitude that compiles disclosures is something simple and easy. But even for their preparation, the accounting principles and rules should be strictly followed. Through the literature review we will highlight the role and importance of preparing of the financial statements disclosures on financial reporting, the care that should be shown in their preparation and the importance they have for users of financial statements. This also for the fact that, as simple as it may seem in its preparation, this statement has a high level of significance, and may even serve as an \"indicator\" for detecting fraud, assisting decision-making processes, and so on. The objectives of our paper will be realized through comparative, descriptive and statistical analyzes, using primary and secondary data. Primary data will be provided by the questionnaire addressed to target groups: accountants-because they prepare disclosures; auditors and tax inspectors because they are the users of financial statements disclosures as they use these notes to understand the truth and credibility but also to discover frauds and mistakes. Secondary data will be gained from the literature review and the national accounting standards study of our country. The primary data analysis will serve first to understand the level of preparation of the financial statements disclosures and then to understand the role and importance of their information in the preparation of the full set of financial statements, with the purpose of giving the true and fair view of the activity of the entity, thus contributing to the increase of transparency. Secondary data analysis will serve to understand better the theoretical framework for the disclosures and the information that they carry. In the end, we will provide necessary recommendations regarding the disclosures and information they need to carry to ensure a higher quality of financial reporting.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134254812","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":"Impact of Private Equity in Colombian Companies: A Case Study","authors":"Lina Maria Maya Toro, Manuela Gallón Bedoya","doi":"10.2478/ejes-2018-0060","DOIUrl":"https://doi.org/10.2478/ejes-2018-0060","url":null,"abstract":"Abstract A private equity fund is an investment vehicle managed by a professional team, whose main objective is to provide a medium or long-term return to its investors through capital investments in companies that are not listed on the stock exchange. In Colombia the first professional managers of private equity funds arrived in 2005, Since that date, several companies have been formed dedicated to this, such as Valorar Futuro, an investment fund which bought Aderezos and Higietex. The aim of this research was to determine the impact of the leverage of a private capital fund on the economic growth of a company. Financial balances of the companies Aderezos and Higietex were obtained from 2013 to 2017 and analyzed. Finally, it was found that the private capital fund allowed growth in the companies Aderezos and Higietex.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124639920","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 Effect of Economic Variables on Banking Credits: An Empirical Study of Algeriancommercial Banks (1997-2017)","authors":"A. Fouzi","doi":"10.2478/ejes-2018-0067","DOIUrl":"https://doi.org/10.2478/ejes-2018-0067","url":null,"abstract":"Abstract The study aimed to test the effect of deposits, real interest rate, population and economic reforms on the Banking credit from Algeriancommercial banks represented by the size of credit facilities. The study used annual data for the period from 1997 to 2017. Where the Multi regression model was estimated using a method of Ordinary Least Squares OLS. Results of the analysis showed that there is a positive relationship with a statistically significant between the credit facilities and the deposits and the variable of economicreforms, while the real interest rate and population size have been linked by significant negative relationship.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130669481","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":"Pecking Order and Trade – off Capital Structure Theories in the European Countries Supported by European Stability Mechanism","authors":"Georgios Chatzinas, M. Markopoulou, Simeon Papadopoulos","doi":"10.2478/ejes-2018-0057","DOIUrl":"https://doi.org/10.2478/ejes-2018-0057","url":null,"abstract":"Abstract The financial assistance provided by European Stability Mechanism during the recent European crisis was accompanied with severe austerity measures and strict reforms that changed significantly the economic environment in the countries that accepted it. The present study examines whether these changes affected the capital structure of the European firms in these countries. Using accounting data for firms in Cyprus, Greece, Ireland and Portugal, the researchers created a balanced panel database and applied the Shyam-Sunders and Myers (1999) methodology to investigate whether pecking order or trade-off hypotheses can better explain the financing decision of the firms in these countries during the period before and after the outset of the ESM financial assistance. The results indicate that the firms’ capital structure decisions are explained by both theories in Greece, Cyprus and Portugal before the beginning of the EMS program, while only by trade-off in Ireland. On the other hand, after the beginning of the ESM program the firms’ capital structures are better explained by trade-off hypothesis in Greece and Cyprus, while nothing changed in cases of Ireland and Portugal. The fact that Greek and Cypriot tax rates increased the most among the four examined countries may explain at least partially the above differentiations. So, the economic environment is a primary factor that affects the explanatory power of each capital structure theory. Moreover, a change in economic environment may lead to a change in the dominant capital structure theory.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115961363","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":"Comparative Review of Socio Economic Levels in Balkan Countries","authors":"Ebru Z. Boyacıoğlu, Müge Atakan","doi":"10.2478/ejes-2018-0064","DOIUrl":"https://doi.org/10.2478/ejes-2018-0064","url":null,"abstract":"Abstract The paper analyses the state of Balkan Countries' socio economic levels and their structures based on development indicators. The main objective of the research is to identify the main differences between the Balkan countries’ and relate them to the differences existing in the overall. The socio-economic performance of Balkan Countries have been discussed elaborately making a comparison between them. The general aim of research is to determine whether differences in socio-economic levels in Balkan countries between 2000 and 2017. This region is a developing countries’ geography . Also a comprehensive research encompassing of Balkan Countries is still lacking. It is important to determine the socio-economic status of this region in which political developments and changes have been bring out in the recent decades.The research included in current study is based on secondary data analysis. Indıcators from economy, population, health, environment gender, tourism, etc. were determined in the base of social and economic status. Research data were obtained from DataBank of World Bank. As a result of this research, although they are in same region and have similar conditions, main differences on socio-economic situations were found. Reducing socioeconomic inequalities depends upon speeding up structural reforms in Balkan Countries. The results obtained from this research can be used as a source for planning the structural reforms (if needed).","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125823730","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":"Georgia in the World Merchandise Trade: Main Trends and Problems of Development","authors":"Larisa Korganashvili","doi":"10.2478/ejes-2018-0058","DOIUrl":"https://doi.org/10.2478/ejes-2018-0058","url":null,"abstract":"Abstract Foreign trade is the main factor in the country's integration into the world economic system. It promotes the socio-economic development of states, especially developing countries. After the restoration of state independence, Georgia actively cooperates with different countries within the framework of bilateral and multilateral agreements. Its foreign trade activity is based on a high level of openness of the economy and liberal policy, features of the market economy and new vectors of development. Georgia has been a member of the World Trade Organization since 2000 and has one of the most liberal and competitive trade regimes across the world. Georgia's foreign trade turnover has a cyclical growth pattern with a combination of periods of its fall. Over the entire post-Soviet period, the country has a negative trade balance and a high dependence on imports. Export characterizes a high degree of concentration of geographical structure and low level of diversification. The article analyzes the current state of Georgia's foreign trade, shows the main indicators of the country's foreign trade for the period of 1994-2014, and examines the main trends in its development and the importance of export diversification to improve the efficiency of foreign trade.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115183218","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":"Real Time Data","authors":"Arlind Rama, Ilir Vika","doi":"10.26417/EJES.V4I3.P147-154","DOIUrl":"https://doi.org/10.26417/EJES.V4I3.P147-154","url":null,"abstract":"Interpretation of exchange rate volatility in the light of economic fundamentals comprises an issue of interest for policymakers when it comes to implementing the monetary policy. Understanding the impact of economic news on the Lek exchange rate against two main hard currencies, Euro and US dollar, would serve to better orient the monetary policy and forex market agents positioning in time. Exchange rates volatility on economic news in short-term is an often discussed phenomenon in the economic literature, but through this material we tend to measure these effects in the Albanian foreign currency market and contribute in the literature interpreting foreign currency markets volatility in developing economies. Very often, domestic foreign exchange movements are attributed to developments in large international markets. In the case of Albanian Lek volatility analysis, we tend to find answers regarding the importance of economic news coming from the two main economies in focus, Eurozone and the US. Furthermore, we investigate the importance of the economic information flow in Albania in determining the Lek exchange rate against Euro and US dollar. For a period in focus from January 2007 until July 2012, we try to understand if the exchange rate volatility has been a result of economic fundamentals or financial markets stress related economic news.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117062220","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":"Workaholism and Its Manifestations in Individuals Running Small Family Businesses – Selected Qualitative Research Results","authors":"M. Dobrowolska, Marta Stasiła-Sieradzka, M. Paruzel-Czachura, Agata Chudzicka‐Czupała","doi":"10.2478/ejes-2018-0053","DOIUrl":"https://doi.org/10.2478/ejes-2018-0053","url":null,"abstract":"Abstract The research into workaholism in individuals running small, family-owned businesses, among microentrepreneurs, i.e. individuals conducting business activity and employing up to 9 people, was inspired by the relatively high number of persons seeking assistance at a psychotherapy centre, classifying the ailments as workaholic issues, with n=64 respondents interviewed. The paper presents selected manifestations of workaholism, categorised into several key data areas as a result of qualitative research. Quota sampling was used to select respondents who were microentrepreneurs and who had been running family businesses for at least two generations. The results presented in the paper are part of a more extensive research project supervised by the first author, concerning the psychological aspects of running family businesses.","PeriodicalId":448769,"journal":{"name":"European Journal of Economics and Business Studies","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132840939","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}