{"title":"Determinants of Entrepreneurial Intentions of Youth: The Role of Access to Finance","authors":"V. Rusu, A. Roman, M. Tudose","doi":"10.5755/j01.ee.33.1.28716","DOIUrl":"https://doi.org/10.5755/j01.ee.33.1.28716","url":null,"abstract":"This study aims to highlight the role of access to finance as one of the determinants on the decision to enter into entrepreneurship of students regarded as potential entrepreneurs. For achieving our main objective, we created a questionnaire. As a method of analysis, we run the least square logistic regression, with entrepreneurial intentions as a dependent variable and knowledge, education and availability of financial resources as predictors. We also included gender, university and locality as control variables. The sample is formed of 181 students from two universities from the North-Eastern region of Romania. The results reveal that access to finance is a significant determinant of the decision to enter into entreprenenruship for young people. Moreover, we show that the relation between access to finance and entrepreneurial intentions changes according to gender, university and locality of origin. Female students’ entrepreneurial intentions are influenced by the availability of bank loans and personal savings, while in case of male students - only by the availability of funds coming from family and friends. The funds coming from family and friends also determine students' entrepreneurial intentions coming from rural or urban areas. Entrepreneurial intentions are negatively related to education for male students and those coming from an economic profile university, and positively related to business knowledge only for students from rural areas. The results obtained could be important for financial resources providers (because they offer insight into how easy access to finance stimulates the entrepreneurial intentions of youth), for education providers (who can adapt their training programs and extracurricular activities to strengthen entrepreneurial intentions), and for decision makers (which may adopt appropriate policies to stimulate the economic development of an area).","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"8 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85552793","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Proposal of Corporate Payout Decisions’ Modelling","authors":"M. Kowerski, B. Kaźmierska-Jóźwiak","doi":"10.5755/j01.ee.33.1.28496","DOIUrl":"https://doi.org/10.5755/j01.ee.33.1.28496","url":null,"abstract":"Decisions on a company’s profit sharing are the most important financial decisions for both the shareholders as a source of additional income and the company as the source of cash outflow. The net profit can be transferred to the shareholders in the form of dividends or stock repurchases. Due to the fact that for both, dividends and share repurchase, the source of payments is the net profit (either last year profit, or retained profit), it can be assumed that decisions regarding dividend payments and share repurchases are interdependent. Therefore, a very important and so far without an unequivocal solution is the problem of measuring the relationship between decisions on dividend payments and share repurchases (whether to pay out a company’s profit in one of the forms, in both forms or at all). Taking into consideration the possibility of interdependence of both forms of corporate payout policy as well as the fact that data describing payout policy are of panel nature and the relationships between the decisions and the determinants may be non-linear, two simultaneous equations second order panel binomial choice model with random specific effects, the parameters of which are estimated in the same way as in the two stage least squares, was suggested for modelling the payout policy. The modelling procedure was verified by the estimation of the model on a balanced panel of 153 companies listed on the Warsaw Stock Exchange over the period 2008–2016 (1,377 observations). The study results show that the proposed procedure enables the selection of appropriate factors determining the decisions on dividends and share repurchases and the assessment of the relationship between them. It takes into the consideration the panel nature of the data and the possibility of heterogeneity and removes the phenomenon of endogeneity in the model, thereby, filling an existing gap in the literature on corporate payout decisions.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"11 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84999412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hao Jia-jia, Liao Chunling, Yuan Runsen, Khansa Pervaiz, Muhammad Asif Khan, Sun Xiaoran
{"title":"Dual Innovation Performance through Knowledge-Based Network Structure: Evidence from Electronic Information Industry","authors":"Hao Jia-jia, Liao Chunling, Yuan Runsen, Khansa Pervaiz, Muhammad Asif Khan, Sun Xiaoran","doi":"10.5755/j01.ee.33.1.25899","DOIUrl":"https://doi.org/10.5755/j01.ee.33.1.25899","url":null,"abstract":"This study analyzes how knowledge-based network affects the dual innovation performance. Dual innovation includes exploratory and exploitative innovation, and knowledge-based network represents the relationships among knowledge-based elements. We take 269 enterprises having gone public in Shanghai and Shenzhen stock markets of the electronic information industry of China as samples and get the patent data for 5 years from 2014 to 2018. We consider building the knowledge-based network structure based on social network analysis method, and measure three features of the knowledge-based network, that are density, centralization and structure hole. We test the relationship between three network features and dual innovation performance through negative binomial regression method. The results indicate that there is an inverted U-Curve relationship between density and exploitative innovation performance. There is an inverted U-curve relationship between centralization and exploratory innovation performance. There is an inverted U-curve connection between the structure hole and the dual innovation performance.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"29 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86157990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hafezali Iqbal Hussain, Fakarudin Kamarudin, Nazratul Aina Mohamad Anwar, F. Sufian, A. Ali, M. Saudi
{"title":"Social Globalisation and Efficiency of Microfinance Institutions Nexus: Empirical Evidence on Financial and Social Efficiency","authors":"Hafezali Iqbal Hussain, Fakarudin Kamarudin, Nazratul Aina Mohamad Anwar, F. Sufian, A. Ali, M. Saudi","doi":"10.5755/j01.ee.33.1.29130","DOIUrl":"https://doi.org/10.5755/j01.ee.33.1.29130","url":null,"abstract":"The main objective of this paper is to identify the impacts of social globalisation comprised of personal contacts, information flows and cultural proximity to the financial and social efficiency of Microfinance Institutions (MFIs). This study had conducted two stages of analysis, in which the first stage is Data Envelopment Analysis (DEA) approach and the second stage is multiple panel regression analysis under Generalized Least Square estimation method. The results exhibit that the overall MFIs operated in a relatively optimal scale during the period of the study. However, these MFIs were managerially inefficient in utilising their resources to achieve both social and financial efficiency. The results from panel regression analysis showed that only personal contacts exhibit a significant positive relationship with the financial efficiency of MFIs. This study could contribute new insights and implications to various parties, such as MFIs, policy makers, investors and researchers to improve the efficiency of MFIs.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"301 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77106018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Economic Policy Uncertainty and Manufacturing Value-added Exports","authors":"Tingting Zhao","doi":"10.5755/j01.ee.33.1.27373","DOIUrl":"https://doi.org/10.5755/j01.ee.33.1.27373","url":null,"abstract":"This study explores the effects of increased economic policy uncertainty (EPU) in both importing and exporting countries on manufacturing value-added exports. The results show that increased EPU of both importing and exporting countries would result in decreases in manufacturing value-added trade flows, and the negative effect of exporters' EPU is larger than that of importers' EPU. Our results also provide evidence on the influence channels: increased EPU of exporting countries affects manufacturing value-added trade flows primarily through the cost to export, while increased EPU of importing countries primarily through market demand. This conclusion is robust to a series of robustness checks.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"44 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78534119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Index-Based Measurement of Creative Industries’ Impact on National Economy","authors":"Ugne Daubaraite-Radikiene, G. Startienė","doi":"10.5755/j01.ee.33.1.27869","DOIUrl":"https://doi.org/10.5755/j01.ee.33.1.27869","url":null,"abstract":"For more than 20 years creative industries (CI) have been experiencing increasing attention from both academia and policymakers alike. Capable of creating jobs, invigorating cities and regions, cultural and social life, contributing to the increase in value added, exports and quality of life, numerous studies proved CI to have broad impact on national economy, as evident not only in economic, but also in sociocultural and environmental areas. Authors aim to develop a model of CI impact on national economy integrating economic, sociocultural, and environmental indicators, to create the index for measuring the CI impact on national economy, and to adapt it empirically to the case of the EU countries in 2008 – 2016. Research confirms that the impact of CI is observed in economic, sociocultural, and environmental impact areas. CIIE index allows estimating CI impact on national economy and enables to draw comparisons among the EU countries in 2008 – 2016 based on CI impact on national economy. This study reveals direct dependence between the factors of CI development and CI impact on national economy. With reference to the index describing the conditions of CI development (Global Creativity Index), three clusters of the EU countries were identified using CI impact on national economy (CIIE) index. Clustering confirms that historical, social, economic, and political development of a country determines conditions for CI emergence and development, and, consequently, influences CI impact on national economy.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"18 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73210284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Role of Entrepreneurial Intentions, Perceived Risk and Perceived Trust in Crowdfunding Intentions","authors":"Mina Fanea-Ivanovici, H. Baber","doi":"10.5755/j01.ee.32.5.29300","DOIUrl":"https://doi.org/10.5755/j01.ee.32.5.29300","url":null,"abstract":"Crowdfunding is a new financial and marketing tool, which is used to raise money for new projects and to promote innovative products. The aim of this paper is to investigate the influencing factors of crowdfunding intentions among students as future or current entrepreneurs. Drawing from the Theory of Planned Behaviour and the Unified Theory of Acceptance and Use of Technology, we analyse the data from two culturally and entrepreneurship-wise different countries, Romania and South Korea using PLS-SEM (N=441). Entrepreneurial intentions, perceived risk and perceived trust are found to positively influence crowdfunding intentions among business, economics and management students in both countries. We further check the influence of attitude towards entreprenurship, social norms and perceived behavioural control, entrepreneurial education and desire for success on entre-preneurial intentions, and report positive correlations for the whole analyzed sample. Moreover, social influence and facilitating conditions positively influence the entrepreneurs’ perceived risk, and effort expectancy and performance expectancy positively influence perceived trust. Whereas the Romanian sample does not exhibit any influence of social norms on entrepreneurial intentions, entrepreneurial education is not correlated with entrepreneurial intentions in South Korea.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"32 10","pages":""},"PeriodicalIF":2.8,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72588610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Traditional and Developing Segments of the Sharing Economy from the Point of View of Customers","authors":"Libena Tetrevova, M. Jelínková, Simona Munzarova","doi":"10.5755/j01.ee.32.5.28337","DOIUrl":"https://doi.org/10.5755/j01.ee.32.5.28337","url":null,"abstract":"The sharing economy represents a phenomenon which is increasing in importance as time goes by, even from the point of view of less developed countries. The aim of the study is to evaluate the knowledge of traditional and developing segments of the sharing economy and their platforms and to analyse and evaluate the level of their use employing the example of customers (the younger and the older generation) in one of the post-communist countries – the Czech Republic. Data was collected on the basis of a questionnaire survey (N=614). This was processed using descriptive statistics tools. The study shows that respondents are the most familiar with forms of sharing not only from traditional segments (passenger transportation and accommodation) but also from the financial segment. The best-known platforms include Uber, Airbnb and Zonky. Platforms from traditional segments are used the most. The younger generation has better awareness, both about possible forms of sharing and also about the existing platforms. However, the study did not prove any differences in the level of use of platforms between the younger and older generation.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"13 4 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86810297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of E-Commerce Sales on Capacity Utilization","authors":"Xuechang Zhu, Hui Shang, Zhen Dai, Bin Liu","doi":"10.5755/j01.ee.32.5.28508","DOIUrl":"https://doi.org/10.5755/j01.ee.32.5.28508","url":null,"abstract":"This study aims to examine the relationship between e-commerce sales and capacity utilization in China, with process innovation being the mediator and product focus being the moderator. A mediated moderation model was developed and tested using data from 804 Chinese manufacturing firms as well as two-stage least squares regression analysis. The results reveal that the relationship between e-commerce sales and capacity utilization is negative; while process innovation mediates this relationship. Furthermore, product focus not only moderates the relationship between e-commerce sales and capacity utilization, but also moderates the relationship between process innovation and capacity utilization. These findings are useful for decision-makers when formulating e-commerce sales strategies and focusing on process innovation that will help them achieve higher capacity utilization. This paper contributes to existing research by validating process innovation as mediator and product focus as moderator between e-commerce sales and capacity utilization.","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"59 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85633733","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rizwan Raheem Ahmed, D. Štreimikienė, Zahid Ali Channar, R. Soomro, J. Streimikis
{"title":"E-banking Customer Satisfaction and Loyalty: Evidence from Serial Mediation through Modified E-S-QUAL Model and Second-Order PLS-SEM","authors":"Rizwan Raheem Ahmed, D. Štreimikienė, Zahid Ali Channar, R. Soomro, J. Streimikis","doi":"10.5755/j01.ee.32.5.28997","DOIUrl":"https://doi.org/10.5755/j01.ee.32.5.28997","url":null,"abstract":"This research aims to measure the service quality of e-banking through e-customer satisfaction & e-customer loyalty in the Islamic e-banking sector of Pakistan. For this purpose, we modified the multiple-item scale (E-S-QUAL) model with two new dimensions: availability of online system and personal needs of customers. Additionally, we added two mediators, for instance, religiosity and trust in the Islamic e-banking perspective. We have collected 674 responses from the consumers of the Islamic banking sector of Pakistan through a structured questionnaire. The data were analysed through second-order PLS-SEM (PLS-structural equation modeling) to examine direct and serial mediation. The direct relationship results showed a positive and compelling effect of modified E-S-QUAL dimensions on e-customer satisfaction. Additionally, the e-customer satisfaction has an affirmative and significant association with e-customer loyalty. Moreover, the serial mediation relationship results exhibited that the e-customer satisfaction, trust, and religiosity mediated the modified dimensions of the E-S-QUAL model and e-customer loyalty.\u0000 ","PeriodicalId":46830,"journal":{"name":"Inzinerine Ekonomika-Engineering Economics","volume":"62 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83023954","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}