Economics & Sociology
Centre of Sociological Research, Foundation of Int,正常發行
選擇卷期
- 期刊
Financial analysis is a topic of interest for both academic research and businesses. Financial analysts are important elements of economic interactions. Nevertheless, there are doubts about the quality of their predictions. Special crowdsourcing platforms facilitate group decisions as an alternative to traditional financial analysis. The objective of this paper is to investigate the quality of predictions by individuals and groups using this alternative approach. Various groups - consisting of laypeople but also financial professionals - were formed purposefully to generate equity forecasts. The data from the experiment suggest that some variables, in terms of participants' characteristics, have a significant impact on the quality of predictions. The results show that intuition plays an important role in the decision-making process. Also, good predictors base their intuition on several factors. The results led to an explanatory model, which we introduce as ＂deliberated intuition＂, a practice process being different for each individual. It appears that thinking about the problem in different ways and with various techniques contribute to making good predictions. The model may help in designing teams for traditional financial analysts.
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This study seeks to analyse the relationship between accounting and management practices in organisations of the third sector in a less developed country, taking regional differences into account. Primary data were collected using a survey conducted among the third sector organisations in the provinces of Huíla, Benguela, Huambo and Namibe. The results of the study identify a relationship between the type of organisation and the origin of the resources obtained, the disclosure of financial statements, the use of operational plans and the use of budgets. This exploratory study contributes to the research on accounting and management in the third sector in that it is pioneering in the analysis of simultaneous influence of accounting and management characteristics in the four studied regions of Angola.
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Microfirms play a significant role in the Central/Eastern European economies, comprising 86% of the total amount of active firms. Development of microfirms is influenced by the local entrepreneurial environment. This article discusses the role of the local formal (regulations, local acts of law) and informal (customs, social norms and values) institutions in the development of microfirms. Synthetic exploration of the coexistence of formal and informal institutions on the example of Masovian and Swietokrzyskie voivodeships in Poland has been carried out. To present a multifaceted perspective, the following research methods were used: a survey among formal local institutions, individual indepth interviews with microfirms' owners and Regional Chambers of Commerce and also a case study on the local law acts. The findings suggest that the development instruments used by formal local institutions are inadequate for the needs of MF's. Furthermore, the crucial role of family support, and the importance of knowledge sharing has been found.
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The paper studies the reform package proposed by the European Commission on 6 December 2017. First, institutional and economic implications of the reform proposal are analysed. The paper finds that some proposals are beyond the present Treaty provisions. For instance, the proposal of a fiscal capacity does not tackle the economic root causes without a supranational transfer mechanism. In fact, the proposed budget neutrality over the medium-term is unfeasible due to cross-country heterogeneity in the Eurozone. At the end, the paper develops policy conclusions.
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The choice of a suitable measure for company's performance and identification of key performance indicators are among the most frequently discussed topics in the field of corporate management strategizing. This paper shows how the value-based measure represented by Economic Value Added (EVA) and its pyramidal breakdown could act as facilitators in revealing value drivers. The univariate sensitivity analysis and the Stochastic Frontier Analysis are employed to identify the key performance indicators. The analysis is based on the samples of original equipment manufacturers and suppliers in Czech automotive sector. The automotive industry, in general, is sensitive to the business cycle. Therefore, KPIs of the multiple EVA/Sales distinguished for the samples in the Precrisis, Crisis and Post-crisis periods are identified. The detailed sensitivity analysis reveals several differences in these periods in both samples and across companies of different sizes. Some of the results are further confirmed by the Stochastic Frontier Analysis. Besides other indicators, value added is demonstrated as the key driver with the highest positive impact and personnel cost with the highest negative impact on EVA in all periods although the magnitude of these effects is changing. Analysis of the technical efficiency scores reveals that companies in the crisis periods are more similar to each other and are closer to the best-performing companies than in other periods.
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Unemployment is a long-term problem in many countries worldwide, including European Union. Decreasing unemployment rate has become one of the EU development priorities declared in the Europe 2020 Strategy. Therefore, national policies in this area are coordinated and supported through funding on modernization of education systems, easier access to work, free movement of labor within the EU and support for handicapped people. One of the main objectives of the Europe 2020 Strategy is to achieve a 75% employment rate for the population aged 24-60. The aim of this contribution is to analyze and evaluate the success in achieving this target by the individual EU Member States. Effects of the selected factors on the employment level are also analyzed. The panel data for the period 2004 to 2016 and all EU countries divided into two clusters has been used. The results show the positive impact of gross domestic product growth and average gross earnings on employment growth. Also, a negative impact of remittances on employment was detected confirming the neoclassical view that received payments are deterring people from the willingness to work.
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This paper investigates the relationship between oligarchic economies and the crony sector development, which includes industries with the dominating rent-seeking behavior. In order to analyze the period from 2006 till 2016, cross-countries' data on the Power Distance Index, Crony Capitalism Index, Sustainable Society Index, among with the environmentally related taxes are referenced. Regression analysis for the distance to power and dependence on crony capitalism is carried out with a focus on the relation between crony capitalism and ecologization. Existence of a vicious cycle associated with hierarchical tolerance and barriers towards ecologization in modern welfare economics, is debated. Conclusions are made concerning the cultural and social factors having their direct impact on the existence of crony sectors and functioning of weak institutions.
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Arising from the questions ＂Would all types of human capital affect economic growth identically? And which type of schooling - primary, secondary, or tertiary - should public policy promote?＂, this study examines the nexus between different educational levels and Indonesia's economic growth over a reference period 1984-2014. During this period, education expansion took place at all three levels of education reflecting structural changes tied within the policies under the Millennium Development Goals (MDG's) as the key and powerful factor for sustainable economic development. The study applies the augmented Lucas endogenous growth model and employs the autoregressive distributed lag model. The empirical analysis reveals a long-run relation between education and economic growth. The estimated long-run and short-run elasticity of different education levels reveal that, overall, human capital structure in Indonesia is still at the stage of promoting economic growth and identifies tertiary education as the main level for development. The findings reveal that education level matters to economic growth. Further, the empirical evidence helps shed light on why empirical studies have failed to find a significant relationship between schooling and economic growth.
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The relations between social policies, social exclusion, and social well-being in the Southeast Asia focusing on the case study of Papua, Indonesia is the main topic of this paper. The data discusses objective and subjective well-being. Both indicators can reflect the social well-being conditions of the region, and indicate the scale of social exclusion in the society of the studied area. West Papua is located in the Eastern Indonesia, and selection of this province as a case study is based on the consideration that welfare of the Eastern Indonesians can illustrate disparities in Indonesia overall. The data presented on West Papua province demonstrates the interrelationship between social policy, social exclusion, and social well-being taking place in this community. Social and economic policies in this context include two levels - that of the National Government and of the Provincial Government. The presented ase study provides insights on Eastern Indonesia, which is experiencing more disparities as compared to other parts of Indonesia, while the discussion on the case study is linked to a more general context - that of other Southeast Asian countries.
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Money illusions potentially occur in a post-redenominating country. This is triggered by the public tendency to merely pay attention to the nominal value listed on the currency rather than the real value. Money illusion often occurs in Indonesian society and encourages hyperinflation, as one indicator of redenomination failure. Therefore, this research explores the potential of money illusion in Indonesia with Semarang, Kudus, and Banjarnegara as the research locations. These three locations represent Indonesian urban, coastal and inland areas. The data collection was conducted with a survey of 600 respondents. The data were analyzed with Cramer's V-test in order to know the potential difference of money illusion among people with different geographic, demographic, and psychographic characteristics. The results show there is a potential for money illusion in terms of educational expenses by educational level; social spending by region; electricity expenses by occupation; water expenses by occupation; entertainment spending by age and sex; and medical expenses by occupation. Hence, the government should provide additional programs to increase the people's understanding of the redenomination agenda and provide strong policies to maintain economic stability.