Huihong Liu, Xinyu Liu, T. Baležentis, D. Štreimikienė, Shouzhen Zeng
{"title":"TRANSFER PRICING OF INNOVATION CONSIDERING MATCHES BETWEEN INNOVATION AND TECHNOLOGY IN FIRMS","authors":"Huihong Liu, Xinyu Liu, T. Baležentis, D. Štreimikienė, Shouzhen Zeng","doi":"10.3846/jbem.2023.18852","DOIUrl":"https://doi.org/10.3846/jbem.2023.18852","url":null,"abstract":"Firms can purchase innovation results to improve their technology. In this context, the key to transfer success is reasonably priced innovation results. Considering the match between innovation results and firm technology, this study analyzes the nonlinear improvement effect of innovation results on technology. The pricing decision is then assessed by a game model of the innovation results transfer and pricing that is based on the entire innovation process, including research and development (R&D) and transfer. Then the method for transfer pricing of innovation results is obtained from the equilibrium of game. The results show that firms tend to evaluate innovation results by matching them with their own technologies, and then make bids based on the R&D costs. Here, innovation results are obtained by firms with high-level matching. After considering the matching, the transfer pricing of innovative results will prosper the transfer market and improve the success rate of transfer. Several factors affect the possibility of transfer of innovation results and their price, including the R&D ability of the institution, the technology levels of firms, and the technological competition between firms. These conclusions were validated using a numerical example.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"07 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86493479","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":"LABOUR PRODUCTIVITY ANALYSIS OF MANUFACTURING SECTOR IN TURKEY AGAINST EU","authors":"Dursun Balkan, G. Akyuz","doi":"10.3846/jbem.2023.19059","DOIUrl":"https://doi.org/10.3846/jbem.2023.19059","url":null,"abstract":"This study offers an in-depth analysis of labour productivity of manufacturing sector in Turkey and provides a comparison with EU27 and EA19 countries utilizing Eurostat time series data of 63 quarters covering 2005/first quarter-2020/third quarter time interval. Productivity trends are identified and interpreted by relating them with the key macroeconomic events and factors. Multiple linear and non-linear regression equations, and ARIMA model with different parameters are applied to the time series data considering the periods with and without covid effect. Future projections are made for the periods 2020–2023 for Turkey manufacturing sector based on the best fitting regression and ARIMA solutions and they are compared. Findings revealed that extreme covid conditions of even two quarters of data have significant impact on the forecasted values for Turkey, EU27 and EA19 countries. ARIMA analysis with 12 different parameter settings provided accurate results, supported by Thiel’s inequality coefficients and standard error measures. Analysis has shown consistent patterns between EA19 and EU27 countries. ARIMA results represent better compatibility with the regression results for Turkey. Study is valuable by providing comprehensive and comparative analysis, revealing future forecasts and covid effect and degree of recovery from the pandemic.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"17 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73212935","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":"UNDERSTANDING ELECTRICITY PRICE EVOLUTION – DAY-AHEAD MARKET COMPETITIVENESS IN ROMANIA","authors":"A. Bâra, S. Oprea, I. Georgescu","doi":"10.3846/jbem.2023.19050","DOIUrl":"https://doi.org/10.3846/jbem.2023.19050","url":null,"abstract":"The unexpected pandemic eruption in March 2020, the European efforts to diminish the gas house emissions, prolonged drought, higher inflation and the war in Ukraine clearly have had a strong impact on the electricity price. In this paper, we analyze the electricity prices on the Romanian Day-Ahead Market (DAM) along with other variables (inflation, consumption and traded volume of gas on DAM) over the last three and a half years in an attempt to understand its evolution and future trend in the economic and geopolitical context. Autoregressive Distributed Lag models are proposed to analyze the causality among variables on short- and long-term perspective, whereas Quantile Regression (QR) is proposed to enhance the results of the Ordinary Least Squares (OLS) regression. Furthermore, using market concentration metrics – Herfindahl-Hirschman Index (HHI), C1 and C3 ratio, we analyze the competitiveness on the Romanian DAM and correlate it with the electricity price evolution. The concentration indicators on this market reflect the degree of competition manifested between sellers and buyers respectively, their dynamics being able to influence the price level. The higher concentration on the sellers’ side (HHI = 1500) indicates a potential speculative behavior on this market that led to higher prices on DAM.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"25 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72725971","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}
José M. Sevilla, C. Ruiz-Martin, José Juan Nebro, A. López-Paredes
{"title":"WHY CAN ORGANIZATIONAL RESILIENCE NOT BE MEASURED?","authors":"José M. Sevilla, C. Ruiz-Martin, José Juan Nebro, A. López-Paredes","doi":"10.3846/jbem.2023.18819","DOIUrl":"https://doi.org/10.3846/jbem.2023.18819","url":null,"abstract":"Our aim is to justify why organizational resilience cannot be measured in an ex-ante way and the consequences we can draw from it. To achieve this goal, we examine the relations between different approaches to organizational resilience and the tight interrelation between organizational resilience and organizational and dynamic capabilities. We argue that most proposals about organizational resilience conceptualization, and the metrics derived from them, are closely related. They represent the same core concepts, facts, and relations. Additionally, far from there being no consensus about organizational resilience, researchers are presenting the same ideas with different terms. This implies that there are no better or worse definitions or conceptualizations for organizational resilience, but models are more or less suitable depending on the approach to be established. We agree with the proposal that organizational resilience is a dynamic capability and, as such, it should be studied and considered. This review led us to conclude that because organizational resilience is a dynamic process, it cannot be measured or estimated in an ex-ante way. The fact that organizational resilience cannot be measured brings us to the question of how organizations can address organizational resilience improvement, evaluate their progress, and the tools they can use.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"208 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73190147","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":"CRITICAL REVIEW OF TEXT MINING AND SENTIMENT ANALYSIS FOR STOCK MARKET PREDICTION","authors":"Zuzana Janková","doi":"10.3846/jbem.2023.18805","DOIUrl":"https://doi.org/10.3846/jbem.2023.18805","url":null,"abstract":"The paper is aimed at a critical review of the literature dealing with text mining and sentiment analysis for stock market prediction. The aim of this work is to create a critical review of the literature, especially with regard to the latest findings of research articles in the selected topic strictly focused on stock markets represented by stock indices or stock titles. This requires examining and critically analyzing the methods used in the analysis of sentiment from textual data, with special regard to the possibility of generalization and transferability of research results. For this reason, an analytical approach is also used in working with the literature and a critical approach in its organization, especially for completeness, coherence, and consistency. Based on the selected criteria, 260 articles corresponding to the subject area are selected from the world databases of Web of Science and Scopus. These studies are graphically captured through bibliometric analysis. Subsequently, the selection of articles was narrowed to 49. The outputs are synthesized and the main findings and limits of the current state of research are highlighted with possible future directions of subsequent research.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"52 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73869647","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}
Sofia Aparisi-Torrijo, Gabriela Ribes-Giner, J. Chaves-Vargas
{"title":"HOW LEADERSHIP FACTORS IMPACT DIFFERENT ENTREPRENEURSHIP PHASES: AN ANALYSIS WITH PLS-SEM","authors":"Sofia Aparisi-Torrijo, Gabriela Ribes-Giner, J. Chaves-Vargas","doi":"10.3846/jbem.2023.18599","DOIUrl":"https://doi.org/10.3846/jbem.2023.18599","url":null,"abstract":"This research work empirically contributes to the entrepreneurial leadership field by analysing how certain combinations of leadership factors impact entrepreneurship in both its launch and consolidation phases. Two relational models are proposed to study whether entrepreneurial leadership factors are positively related to different entrepreneurial activity process stages. The first analyses the effect on the venture’s launch and start-up phases, and the second examines the impact on the entrepreneurship consolidation stage. Utilising data from 50 countries of the Global Entrepreneurship Monitor, a quantitative partial least squares structural equation method was employed to validate the proposed models. The main conclusion was that the use of some leadership capabilities has an unequal influence on entrepreneurship during its life cycle. This study contributes to the field in two ways: we firstly show that leadership factors are contextual, and their contribution depends on the stage of the entrepreneurial process in which the activity is located; secondly, this research reveals that the development of leadership factors, such as self-efficacy, networking, vision and innovative behaviour, positively condition the start-up and launch phases of entrepreneurship. The outcomes of this research demonstrate significant theoretical and empirical implications by bridging the existing gaps in the niche of entrepreneurial leadership factors.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"10 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79059079","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}
Michail Nerantzidis, Andreas G. Koutoupis, Panayiotis G. Tzeremes, Georgios Drogalas, Dimitrios Mitskinis
{"title":"THE EFFECTS OF COVID-19 ON FIRMS’ LIQUIDITY: EVIDENCE FROM THE ATHENS STOCK EXCHANGE","authors":"Michail Nerantzidis, Andreas G. Koutoupis, Panayiotis G. Tzeremes, Georgios Drogalas, Dimitrios Mitskinis","doi":"10.3846/jbem.2023.18637","DOIUrl":"https://doi.org/10.3846/jbem.2023.18637","url":null,"abstract":"Motivated by the recent study of De Vito and Gómez (2020), this paper examines how the COVID-19 pandemic could influence the liquidity of Greek listed firms. It also explores the main factors that drive the level of operating cash flow (OCF). By simulating a decrease of 50% and 75% in sales, we perform stress-tests on three liquidity ratios for 154 listed firms on Athens Stock Exchange considering their degree of flexibility. For these firms, we also investigate if industry sector matters. Finally, OLS and quantile regression analysis is performed to gain a more detailed and complete picture of the determinants of the OCF. The findings show that on average a firm with limited flexibility, in the worst scenario, would consume its cash reserves in about two months. Furthermore, approximately 9% of all firms would become illiquid in about one year, whereas about 12% would become illiquid within two years. It is also observed that liquidity does not significantly variate across sectors. On average, as revealed by OLS method, the findings support that Total Governance, ROA and Female board significantly affect the OCF. The paper enables policymakers to perceive the magnitude of liquidity risk and improve their decision making.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"64 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74295988","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":"DEVELOPING AN ECONOMIC AND SOCIAL SECURITY INDEX FOR EURO-ATLANTIC AREA COUNTRIES: A PANEL DATA ANALYSIS","authors":"A. Șerban, Ionuț Jianu","doi":"10.3846/jbem.2023.18610","DOIUrl":"https://doi.org/10.3846/jbem.2023.18610","url":null,"abstract":"The concepts of economic and social security are very complex and dynamic, closely related to many new challenges that characterize today’s societies. Our research aims at investigating the economic and social security considering the current vulnerabilities, using an integrated multicriteria approach to this issue, taking into account five pillars (dimensions): demographic, climate, globalization, and ITC adaptation, social, and economic. Based on these dimensions, we developed an Economic and Social Security Index across the Euro-Atlantic countries and we found that the European Union (EU) is better positioned compared to the other country-groups analysed. Furthermore, we estimated the effects of duration of schooling and climate degradation on economic growth, by using the Panel EGLS method over the period 2010–2019, and we compared the results obtained for EU countries to the ones obtained for the other groups of countries in EuroAtlantic space: EU neighbours and candidate/potential candidate countries and other Eastern EU neighbourhood countries. We found a positive impact of the duration of schooling on the economic growth, which is greater in countries registering high levels of socio-economic security, the effect of the duration of schooling varying depending on the quality of education. In terms of the effects of CO2 emissions on economic growth, we found a negative impact, considering the one year lag.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"59 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81351448","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":"SMALL IS BEAUTIFUL AND IMPORTANT: ECONOMIES AND FIRMS TRADING IN DIGITAL SERVICES","authors":"Riina Kerner, Meelis Kitsing","doi":"10.3846/jbem.2023.18585","DOIUrl":"https://doi.org/10.3846/jbem.2023.18585","url":null,"abstract":"Although many firms operate on global digital platforms, small countries and firms also play an essential role at the national level, especially during crises and the slowdown in globalization. This research investigates trade patterns in digital services at the country and firm level and identifies challenges in this area in providing new information and tools to startup mentors and policymakers, who need more evidence for national authorities to develop mentorship and digital programmes. The study also contributes to transaction cost theory, explaining how it is possible to reduce transaction costs. The methodology involves using quantitative and experimental methods, logistic regression for firms and correspondence analysis for countries. The WTO dataset was used to visualise trade in services data and to interpret clusters of digitalised countries. Interestingly, Estonia stands apart from other post-socialist countries in terms of digital services exports, being among smaller countries and hosting the highest concentration of startups per capita. The firmlevel analysis revealed that firms trading in digital services differ from others – being smaller, more focused on exports and more often controlled by non-residents. The study encourages investments in small countries and small firms that trade successfully in digital services.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"16 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82122217","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}
Alexandra Frățilă, Mirela Păunescu, Elena-Mirela Nichita, P. Lazăr
{"title":"DIGITALIZATION OF ROMANIAN PUBLIC ADMINISTRATION: A PANEL DATA ANALYSIS AT REGIONAL LEVEL","authors":"Alexandra Frățilă, Mirela Păunescu, Elena-Mirela Nichita, P. Lazăr","doi":"10.3846/jbem.2023.18574","DOIUrl":"https://doi.org/10.3846/jbem.2023.18574","url":null,"abstract":"Digital transformation of public administration creates opportunities for transparency, accountability, efficiency, and better tax collection. Benefits are even more critical considering the coronavirus crisis when millions of people worldwide engage in online solutions. Our research paper offers clear insights into the public administrations’ strategic management when it comes to the impact of digitalization upon local tax revenues collection. In this setting, we investigate the effects of the digitalization of the Romanian public sector, focusing on local tax revenues collection covering the period 2015–2021. The data was collected from the national platform for e-payments – ghiseul.ro. To assess the impact of digitalization, we opted for the panel data analysis, complemented by reliability and robustness tests. The local tax revenues are settled as the dependent variable and analysed in relationship with the number of payments made via the above-mentioned platform (assigned as a proxy for digitalization). Gross domestic product per capita, Unemployment rate, and Average net earnings are control variables. Our outcomes show that digitalization impacts local tax revenues, but it differs across the country, the highest impact being registered in the case of macroregion 3. All independent variables are statistically significant, leading to the assumption that the empirical model is accurate.","PeriodicalId":47594,"journal":{"name":"Journal of Business Economics and Management","volume":"156 1","pages":""},"PeriodicalIF":2.6,"publicationDate":"2023-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76802304","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}