Acta Oeconomica最新文献

Drivers of moral hazard in banks 银行道德风险的驱动因素

IF 0.8 4区经济学

Acta Oeconomica Pub Date : 2023-12-12 DOI: 10.1556/032.2023.00043

Željko Jović

{"title":"Drivers of moral hazard in banks","authors":"Željko Jović","doi":"10.1556/032.2023.00043","DOIUrl":"https://doi.org/10.1556/032.2023.00043","url":null,"abstract":"The objective of this research is to identify factors that determine the moral hazard in banks by using discrete choice models (probit and logit regression). A specially constructed indicator was used to quantitatively assess moral hazard as the average difference between the better rating of a client in a bank and the most conservative rating of the same client in the banking sector. This is an example where moral hazard manifests itself as the tendency of management in banks to underestimate credit risk. The results showed that state-owned banks and foreign privately-owned banks with evident problems at the level of their headquarters had higher values of this quantitative indicator of moral hazard. Also, banks whose financial result and capital are highly sensitive to a small increase in non-performing loans, as well as banks that at any time in the observed period had a problem with meeting regulatory capital requirements, showed a greater propensity to moral hazard, as measured by this indicator. In the above cases, in the absence of quality corporate governance, management in banks tends to show performance better than it actually is. The obtained results for Serbia in comparison with the previous research give the possibility to quantitatively confirm additional specific factors important for explaining moral hazard (composite variable of the type of ownership and capital restrictions, variables that perform only the transmission of certain forms of management behaviour, size, capital and profit sensitivity, credit risk level, etc.), in addition to the common factors of moral hazard, such as the type of ownership in the bank, capital restrictions, etc.","PeriodicalId":45104,"journal":{"name":"Acta Oeconomica","volume":"7 11","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139007674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

An investigation of the influencing factors of value added tax collection effectiveness in EU Member States 欧盟成员国增值税征收效率影响因素调查

IF 0.8 4区经济学

Acta Oeconomica Pub Date : 2023-12-12 DOI: 10.1556/032.2023.00045

Lóránd-István Králik, Erzsebe Szasz

{"title":"An investigation of the influencing factors of value added tax collection effectiveness in EU Member States","authors":"Lóránd-István Králik, Erzsebe Szasz","doi":"10.1556/032.2023.00045","DOIUrl":"https://doi.org/10.1556/032.2023.00045","url":null,"abstract":"Tax evasion is reducing the revenues of public budgets of many European Union (EU) Member States (MS). To improve the effectiveness of tax collection, during the last decade authorities in several MS have taken measures to reduce the value added tax (VAT) gap (i.e., revenue received as a percentage of theoretical liability). In the Central and Eastern European region, VAT gap reduction measures have been implemented effectively in Hungary and Poland, whereas in Romania the effectiveness of these measures is very low: Romania has been the worst-performing EU MS in collecting VAT for more than 10 years. Our study analyses the factors influencing this VAT gap. Our analysis relied mainly on a fixed effects panel regression model, using for a balanced panel an individual and time fixed-effects with cluster-robust standard errors model, and for the unbalanced panel the fixed-effects regression with individual-specific slopes. Our results show that the size of the VAT gap is primarily influenced by five variables: the transparency index, the tax collection ratio, the law enforcement index, the VAT revenues ratio and the digitisation index.","PeriodicalId":45104,"journal":{"name":"Acta Oeconomica","volume":"19 11","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139009446","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Evaluating the economic freedom of countries: An application of grey factor analysis 评估各国的经济自由度：灰色因素分析法的应用

IF 0.8 4区经济学

Acta Oeconomica Pub Date : 2023-12-12 DOI: 10.1556/032.2023.00042

Deniz Koçak, Abdulkerim Çalişkan

{"title":"Evaluating the economic freedom of countries: An application of grey factor analysis","authors":"Deniz Koçak, Abdulkerim Çalişkan","doi":"10.1556/032.2023.00042","DOIUrl":"https://doi.org/10.1556/032.2023.00042","url":null,"abstract":"Economic freedom is crucial in determining policies for economic performance of nations and monitoring changes in the international economic order. Evaluating economic freedom requires the use of multiple indicators related to each other. Traditional statistical analyses used as an evaluation tool are often constrained by the probability distribution of indicators or sample size. To overcome these shortcomings, this paper uses grey factor analysis (GFA) to evaluate the economic freedom of countries. GFA can be used with multiple interrelated indicators without requirements about the probability distributions or sample size. The absolute degree of grey incidence matrix is used instead of the correlation matrix in factor analysis and GFA integrates the advantages of grey system theory into factor analysis. The analysis covers data for 2010 and 2020 about 20 economic freedom indicators in 36 selected countries. Two factors explain a significant part of the variance for both years. The scores for countries were obtained using the explained variance ratio as a weight. Our results show that GFA provides more accurate results than traditional statistical analyses.","PeriodicalId":45104,"journal":{"name":"Acta Oeconomica","volume":"21 18","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138977128","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Bitcoin: The nexus between regulation and recognition 比特币：监管与认可之间的联系

IF 0.8 4区经济学

Acta Oeconomica Pub Date : 2023-12-12 DOI: 10.1556/032.2023.00046

Alper Uyumaz, Enku Tensay Woldemaryam

引用次数: 0

Impact of investment and R&D expenditures on company performance in the industry 4.0 era 工业 4.0 时代投资和研发支出对公司业绩的影响

IF 0.8 4区经济学

Acta Oeconomica Pub Date : 2023-12-12 DOI: 10.1556/032.2023.00044

J. Šimáková, T. Pražák

引用次数: 0

Endogenous money, soft budget constraint and the banking regulation 内生货币、软预算约束与银行监管

4区经济学

Acta Oeconomica Pub Date : 2023-11-03 DOI: 10.1556/032.2023.00036

István Ábel, Katalin Mérő

引用次数: 0

The global conditions of China's economic development: How does globalisation affect China in the context of Kornai's Frankenstein metaphor? 中国经济发展的全球条件:在科尔奈的科学怪人比喻背景下，全球化如何影响中国?

4区经济学

Acta Oeconomica Pub Date : 2023-11-03 DOI: 10.1556/032.2023.00040

Miklós Losoncz

{"title":"The global conditions of China's economic development: How does globalisation affect China in the context of Kornai's Frankenstein metaphor?","authors":"Miklós Losoncz","doi":"10.1556/032.2023.00040","DOIUrl":"https://doi.org/10.1556/032.2023.00040","url":null,"abstract":"Abstract The objective of this study is to identify how globalisation influences China and how China affects globalisation in the context of János Kornai's Frankenstein metaphor. Kornai (2019) felt moral responsibility for unwillingly contributing with his advice in the 1980s to the birth of a modern version of Frankenstein, the Monster which his creators could not control. A crucial guiding principle of this paper is how the US and the advanced democratic economies can respond to Kornai's dilemma and reconcile the diverging requirements of economic interests with national security priorities. There is a research gap in the systematic mapping of the external economic environment on China's development. The primary conclusion of this paper is that China is less dependent on the rest of the world than the world on China. As the de-risking concept suggests, trade restrictions and domestic industrial policy measures focused on a narrow range of strategic sectors should be combined with unlimited trade and cooperation in the remaining non-strategic sectors. This study's conceptual and methodological framework can be used to analyse the relationship between advanced democratic economies and autocratic regimes in Kornai's Frankenstein dilemma.","PeriodicalId":45104,"journal":{"name":"Acta Oeconomica","volume":"11 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135818224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

“Celestial” snapshots: Moral economic revisitations of János Kornai's the socialist system “天国”快照:János科尔奈社会主义制度的道德经济重访

4区经济学

Acta Oeconomica Pub Date : 2023-11-03 DOI: 10.1556/032.2023.00039

Zsófia Hajnal

{"title":"“Celestial” snapshots: Moral economic revisitations of János Kornai's the socialist system","authors":"Zsófia Hajnal","doi":"10.1556/032.2023.00039","DOIUrl":"https://doi.org/10.1556/032.2023.00039","url":null,"abstract":"Abstract Significant parts of the work of the great economist and economic visionary János Kornai function as a magnifying glass in economic theory, philosophy and history. Kornai examined economic systems and system-mixes with substantial details, for then being able to focus his audiences' attention on the most relevant and critical aspects of them. One of Kornai's masterpieces, The Socialist System – a book which recently passed its 30-year publishing anniversary – is such a political economy lens on communism. I am attempting a concise conversion of this magnifying glass, to apply a Galileian metaphor, into an economic telescope. In other words, I am adding another economic lens – that of moral economics – to the Kornaian viewpoints. In a short analysis going through various dimensions of The Socialist System , I am coupling Kornai's thoughts with moral economic ideas, both from the classical and the contemporary moral economy streams. The goal with this exercise of respectfully refreshing a toolkit and style of economic analysis is to then gaze into, and partially describe a potential multitude, or spectra of economic systems, which may manifest in econodiversity.","PeriodicalId":45104,"journal":{"name":"Acta Oeconomica","volume":"5 20","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135818513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The connection between growth imperative of monetary production economies, the realization problem and Kornai's surplus economy 货币生产经济的增长必要性、实现问题与科尔奈剩余经济的关系

4区经济学

Acta Oeconomica Pub Date : 2023-11-03 DOI: 10.1556/032.2023.00037

Zsolt Gilányi

引用次数: 0

Can János Kornai's oeuvre be continued? János科尔奈的作品还能继续吗?

4区经济学

Acta Oeconomica Pub Date : 2023-11-03 DOI: 10.1556/032.2023.00028

Péter Mihályi

引用次数: 0