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The Relationship Between Sustainability Reporting and Corporate Performance. Evidence from the European Energy Sector

Author(s): Pompei Mititean,Nicoleta-Florina Sărmaș / Language(s): English / Issue: 7/2023

Keywords: sustainability; corporate performance; environmental; social and governance factors; the energy sector;

This article examines the relationship between corporate sustainability, as measured by the combined environmental, social and governance (ESG) and individual scores, and corporate performance of companies operating in the European energy sector. Due to the new EU regulation, companies must adopt strategies regarding environmental, social and governance activities, elaborating an integrated report that shows investors how they are involved in social issues and environmental concerns. This study is based on a quantitative research method which involves using an econometric model and running a multiple linear regression. The data used was collected from the Thomson Reuters Eikon database and covers the period 2017-2021. The identified results are mixed. There is a positive, but statistically insignificant relationship between ESG, ENV, SOC and ROA, while there is a negative and significant relationship between GOV and ROA at the 0.05 level. ENV and SOC scores have a strong negative and significant impact on ROE, and ESG and GOV do not show a significant relationship with it. Additionally, ESG has a significant positive impact on Tobin’s Q ratio, and ENV and SOC have a significant positive impact on it. This research can help investors and other stakeholders have an overview of the energy sector in which they can direct their investment strategies.

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Implications of the Pandemic Wave on the Entrepreneurial Initiative in Romania

Author(s): Claudia Florina Botar / Language(s): English / Issue: 7/2023

Keywords: pandemic; effects; imbalances; entrepreneurship; suspension; activity;

Measuring the implications of the shock wave propagated following the outbreak of the coronavirus pandemic is becoming an exhausting process. The negative impact on the business environment during the sanitary crisis certifies the imbalance occurred within the entrepreneurial initiative, based on the uncertainty felt in the financial area and equally in the emotional one, emphasizing the vulnerability, incertitude and instability of those who intend to develop and apply a business plan. This article highlights the degradation of the entrepreneurial activity during the pandemic, based on the statistical analysis regarding the action of setting up an entity and not only that, emphasizing the influence promoting factors of the behaviour related to the adoption of the entrepreneur status, given the circumstances created by the sanitary crisis, with great effect on the economic world. Likewise, the issues regarding the suspension of a company’s activity provides indices with regard to the seriousness of the situation induced by the COVID-19 pandemic, being analysed during the work. The adjustment and relaunching of the post-pandemic economic activity remains a desideratum of the economic world, even after a significant period from the disappearance of the pandemic wave.

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TRAVEL HEALTH INSURANCE AND COVID-19 PANDEMIC: EVIDENCE FROM BOSNIA AND HERZEGOVINA

Author(s): Željko Vaško,Aleksandar Ostojić,Nemanja Jalić,Mileva Vaško / Language(s): English / Issue: 3/2023

Keywords: COVID-19; tourist travelling; travel health insurance; Bosnia and Herzegovina;

Until the COVID-19 pandemic, the world was experiencing a rapidly growing trend of tourist travel and overnight stays. As a result of COVID-19 restrictions, the travel and tourism sector experienced a fall and suffered financial losses. The purpose of the research was to investigate the role and importance of travel health insurance on the case study of Bosnia and Herzegovina (BiH). The first part of the research was conducted on the basis of processing historical data from secondary sources. The second part of the research is based on the processing of data that reflect attitudes of tourists-travellers about travel health insurance before and during pandemic collected through online survey. The processing of the data from the primary and secondary sources was done through a single-variant statistical data analysis (analysis of frequency and distribution), and the correlation analysis and correlation analysis with the assessment of its statistical significance using the Chi-square test. The results confirm that during the COVID-19 pandemic in BiH, the absolute number of contracted travel insurance decreased due to the reduced number of travels, but the number of those who obligatory contracted travel health insurance increased. Of those who travelled abroad during the pandemic, 82% always or at times contracted travel health insurance. Almost half (47%) of those who contracted travel health insurance contracted an additional COVID-19 insurance. Those who travelled abroad during the pandemic, 9% had health problems caused by the COVID-19 virus infection. Main conclusion is that travel health insurance increases the willingness of tourists to travel even in case of increased risk (such the COVID-19 pandemic) and that it represents a successful model of risk sharing between tourist guests and hosts, with the mediation of insurance companies.

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AN OVERVIEW OF THE USE OF CLAWBACK AS A GOVERNANCE MECHANISM ON EXECUTIVE REMUNERATION IN SOUTH AFRICA

Author(s): Naseeha Mahomed,Daniel P. Schutte / Language(s): English / Issue: 3/2023

Keywords: accountability; clawback; corporate governance; executive remuneration;

The use of malus and clawback provisions has increased in recent years due to the demand for tighter controls on incentive-based compensation. The alignment between executive pay and individual performance creates a culture of responsible decision-making and accountability within an organisation. This paper seeks to evaluate the current state of governance legislation on the clawback of remuneration in the South African context. A systematic literature review was conducted to provide descriptive insight on the technical and procedural approach applied to the clawback of remuneration. These findings were then compared to other countries so that similarities, differences, and areas of further research could be identified. Through detailed content analysis, it was found that the South African governance regime lags behind its international counterparts regarding remuneration clawback. Due to the absence of relevant statutory guidelines, discretion is frequently applied, leading to inconsistent treatment of clawback amongst listed companies. The use of clawback as a risk-mitigation mechanism is also relatively new in South Africa and comparative studies provide useful insight on the technicalities and administration processes applied abroad. The lessons learnt and strategies applied internationally serve as a benchmark for the development of clawback legislation in South Africa.

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EXPLORING THE CIRCULAR ECONOMY EMBEDDED IN THE BUSINESS MODEL. THE PERSPECTIVE OF VIETNAM

Author(s): Anh Tuan Tran / Language(s): English / Issue: 3/2023

Keywords: Circular economy; business model; shared values creation; Vietnam; policy implication;

The Covid-19 pandemic has exposed the leadership inability of the head of several states. This is also an occasion for countries’ policymakers to reconsider policies regarding priorities for policies. Combining with the COP26 conference after the beginning of the new normality, where policymakers gathered for initiating collective actions to tackle climate change. This event turns out that requires collective action in the private and business sector in handling sustainability. These events play very crucial factors in paving the way for the increase of competitiveness in the market through a more sustainable business model. The circular economy is a recent tendency of developed countries while implementing policy within these criteria. The approach of the Environment, Social and Governance report indicator (ESG) is not new and a favorable option for many multinational corporations including small and medium-sized enterprises in several developed countries. ESG is expected that investors and policy-makers would evaluate firms regarding sustainability. It is to say that ESG will be a factor in the process of shaping the global circular economy. However, enterprises in developing countries might take slow progress in this regard, especially in Vietnam. The dissemination of the circular economy is somewhat slow. Vietnam is gradually employing this economic model. And firms operating within the country are being encouraged to shift their linear business model to a circular economic business model. Vietnam's government is making its effort to pave the way for more sustainable economic development by raising awareness of the circular economy, ESG, and sustainable business. Based on the exploratory research, this paper uses web content analysis, secondary sources, and literature research especially the national policies to revise the perspectives of the government and firms. Moreover, this paper should view the development trend of the circular economy in Vietnam. This paper will investigate the situation in Vietnam by analyzing national reports and policies. Several enterprises implementing the circular economy model will be taken under consideration regarding their direction and how they perceive it.

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ANALYSIS OF THE DIGITIZATION LEVEL OF SMALL AND MEDIUM ENTREPRESIS IN TOURISM. IDENTIFYING THE LEVEL OF DIGITIZATION OF BUSINESSES FROM BĂILE FELIX, BIHOR, ROMANIA

Author(s): Miruna Moza,Olimpia Ban / Language(s): English / Issue: 3/2023

Keywords: digitalization; tourism; level of digitalization; small and medium entrepresis; digital tools;

The topic of digital transformation in our country has had a major impact on both society and the economy, with all its sectors being a paradigm for them. At the same time, the digital transformation of our country is one of the most important components of the National Recovery and Resilience Plans. This fact is also due to the position on which Romania is ranked within the hierarchy based on the Digital Economy and Society Index (European Commission, 2021. Referring to it, we observe a less favorable position of our country, ranking 27th out of the 27 member states of the European Union (European Commision, 2022) with an annual growth lower than the other countries and less convergent. Thus, in order for the European Union to fulfill its objective of the digital decade, Romania must create the ideal context for a significant change in the pace of training and acquisition of basic digital skills.We therefore observe how the introduction of digital technology has corroborated the way tourism companies assert themselves. Digital technology has become an invaluable business tool widely used in the travel and tourism sector Lee & Wicks (2010). We are talking about an economic-social phenomenon reflected in one of the basic sectors of many nations, whose expansion was particularly pronounced in 2019, 2020, as a result of the collapse left in this industry by the COVID19 pandemic. Digital transformation represents a substantial challenge for both organizations and national economies, being a topic that has sparked interest for academic studies and researchers.Starting from this necessity and carrying out a review of the existing works on the market, it was found that there are no studies related to the digitalization level of tourism businesses in Romania. Thus, the present work evaluates, measures and quantifies the level of digitization of small and medium-sized enterprises in the field of tourism, with Băile Felix resort in Bihor county as a working sample.

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SETTING AND COMMUNICATING OBJECTIVES IN BASKETBALL VERSUS BUSINESS ORGANIZATIONS

Author(s): Vlad-Alexandru Branga / Language(s): English / Issue: 3/2023

Keywords: objective setting; basketball; business;

Basketball and business organizations can be compared from various standpoints (organizational structure, type of teams, processes etc.). One such standpoint is regarding objective setting. By undergoing a literature review analysis on the topic of objective setting in basketball versus business organization, the author tried to answer the research question: “are there any differences in the way basketball and business organizations conduct their objective setting activities?” Considering this, the objective of this paper is to provide an insight into how objectives in basketball and business organizations are set, and if there are any similarities or differences in the way they conduct this activity. The results however, did not provide clear and sufficient information if there are any differences between how objectives are set and communicated in basketball versus business organizations. Furthermore, a simple literature review like this one cannot provide a clear answer to the research question, as the necessary information regarding objective setting in basketball organizations is, in most cases, not public or easily identifiable. Moreover, the author was not able to identify research on the topic of how exactly basketball organizations set their objectives or what criteria they take into consideration when setting these objectives. This proves the fact that topics like how basketball organization set their objectives for each season or what criteria they take into consideration when undergoing this activity could be considered relevant for a future and more detailed qualitative/ quantitative research having as target group: basketball teams that play in the Euroleague/Romanian National Basketball League.

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Inclusive Growth and Structural Transformation: The Role of Innovation and Digitalisation Spillover

Author(s): Suleiman O. Mamman,Kazi Sohag / Language(s): English / Issue: 3/2023

Keywords: inclusive growth; poverty; income inequality; structural change; digitalisation; technological progress; welfare; African region; panel data; industrialisation; economic development;

Structural transformation is a compelling measure of economic progress as it shifts from less productive to more productive sectors, spurred by technological improvement and digitalisation. Despite the benefits of structural transformation in fostering economic growth, it has been contended that it will exacerbate income inequality. Given the critical role of digitalisation over the years in Africa, the current study investigates the pattern and impact of structural transformation on inclusive growth. To accomplish this, we utilised both absolute (poverty) and relative (income inequality) measures of pro-poor growth for all African countries. Using quantiles via moments panel model, we showed that the structural transformation from agriculture to services reduced the incidence of poverty (extreme poverty) while increasing inequality (Gini coefficient). On the other hand, manufacturing had no significant effect on poverty or inequality, indicating the region’s slow pace of industrialisation. Using income share measures, we found evidence of inequality across and within sectors, particularly in the services sector. Finally, we observed that digitalisation and technological processes significantly reduced the incidence of extreme poverty and inequality. Hence, the study recommends that Africa capitalise on its comparative advantage in the agricultural sector by establishing investment and manufacturing zones to develop the industrial sector. Furthermore, gains in the manufacturing sector could be realised through a concerted effort to improve the industrialisation process.

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The Impact of Regional Economic Conditions on Place Branding Results: The Survival Analysis Approach

Author(s): Pavel Yu. Makarov,Anna A. Chub / Language(s): English / Issue: 3/2023

Keywords: place branding; regional economic conditions; survival analysis; Kaplan-Meier estimator; federal subjects of Russia; place marketing; place brand;

Place branding became a part of regional development processes; therefore, regional conditions could affect the place branding success. Nevertheless, studies on place branding success are mostly focused on management issues, and the role of regional conditions is yet to be revealed. In this regard, the paper aims to explore how regional economic (including social and spatial) conditions affect the results of place branding activity. We assumed that regional conditions have a certain impact on place branding activities, yielding better or worse place brands survival, which we treated as the fact of observable place brand attributes continuing to exist. To test this hypothesis, a survival analysis on brands of 15 Russian regions was performed for the period from 2010 to 2021. Using the Kaplan-Meier method, we examined the impact of seven variables on place brands survival. The obtained findings confirm the positive impact on brands survival of such variables as gross regional product (GRP) per capita, regional investment, and migration attractiveness. The following variables have a negative impact: unemployment rate, the adjacency to regions already having place brands. Additionally, place brands of regions with administrative centres in smaller cities have a better survival rate than the ones with bigger cities. Finally, the impact of change of the federal subject’s head on survival was not confirmed. Thus, the present article contributes to place branding studies by unveiling the influence of regional conditions on place branding outputs and extends the methods of place branding research by using the survival analysis.

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Stakeholder Approach to the Regional Sustainable Development: Empirical Study

Author(s): Elena A. Tretiakova,Maksim A. Kurganov / Language(s): English / Issue: 3/2023

Keywords: sustainable development; regional economy; stakeholder interests; socio-economic-environmental balance of stakeholder interests; consistency of stakeholder interests;

Introduction of the concept of sustainable development (SD) led to the transformation of values and interests of key stakeholders: the government, population and business. Since consideration of regional stakeholder interests is crucial for ensuring SD of large countries like Russia, a methodology is needed to assess their fulfilment, balance and consistency. However, previous studies of regional sustainable development have not yet proposed such a methodology. The present paper examined and classified regional stakeholder interests and developed an indicator framework to evaluate their fulfilment. We proposed an algorithm for calculating 9 group and 7 integral indices which were subsequently used to measure the socio-economic-environmental balance and inter-stakeholder consistency of interests. The methodology was applied to 17 regions of the Volga and Ural Federal Districts of Russia. The research discovered that sustainable development in most regions was at a medium level. There was no significant difference in the fulfilment of interests among the different stakeholders, which can be interpreted as a factor strengthening social cohesion. Additionally, a socio-economic-environmental imbalance was revealed: the fulfilment of social interests was the highest and that of environmental interests was the lowest. Regression modelling has shown that the presence of this imbalance has a negative impact on SD of Russian regions. The proposed methodology may contribute to broaden the scope of analytical research in the field of sustainable development.

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Assessing Inequality of Income Distribution and Education in the Regions of Kazakhstan

Author(s): Anel Akhmetovna Kireyeva,Akan S. Nurbatsin,Madina M. Khalitova / Language(s): English / Issue: 3/2023

Keywords: regional development; regional disparities; economic growth; social inequality; social expenses; income distribution; education; Kuznets curve; Gini coefficient; Kazakhstan;

In the current social conditions, the problems of inequality associated with the uneven distribution of income in society is an important research problem. Thus, it is necessary to investigate the level of regional differences in income distribution in developing countries like Kazakhstan. The study aims to assess the influence of income, social expenditures, and inequality in the distribution of education and education costs between different regions of Kazakhstan. Unlike previous scientific papers in this area, this paper uses panel data on the distribution of human capital and income in 17 regions of Kazakhstan. The methodological framework of the research is represented by methods of statistical assessment of economic inequality, such as the indicator of differentiation, reflecting the degree of social and economic inequality. Based on the proposed methodology, we analysed the disparity in the level of education and obtained data on the standard deviations of the distribution of education for the population of the regions of Kazakhstan. According to these data, inequality changes over time and affects the distribution of education and education costs between different areas. Income inequality is slightly higher in Karaganda and East-Kazakhstan regions; other areas have a more equitable income distribution by about 0.05 Gini coefficients. The regression specification shows that large megacities like Shymkent, Almaty, and Astana have a more significant influence, while Mangystau and North-Kazakhstan regions have minor power. The obtained results emphasise the importance ensuring access to education for reducing regional disparities and achieving stability in income distribution.

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Quality of Life in Portuguese Municipalities: A Multidimensional Approach

Author(s): Andreia Dionísio,Maria Conceição Rego,Teresa Sequeira / Language(s): English / Issue: 3/2023

Keywords: quality of life; well-being; territorial asymmetry; regional development; multivariate approach; cluster analysis;

The estimation of the level of development of a territory is an issue that has had different approaches and methodologies. If the first attempts were associated with determining the income generated and retained by the territory, the most recent indicators of quality of life or well-being are based on a multidimensional concept, improved by adding other dimensions including several variables. On the other hand, despite the statistical difficulties, analysis of smaller geographic units is closer to reality, allowing researchers to draw relevant and effective final considerations. Focusing on the case of Portugal mainland, an old country with strong and persistent development asymmetries, this work sought to examine the similarities and differences in various dimensions of the concept of quality of life, in the positioning of the chosen territorial units, the municipalities. Then, after collecting recent annual variables at the municipality level, data were processed using multivariate analysis. The construction of clusters revealed affinities between the municipalities. The results obtained show the asymmetries of development and well-being in the national territory, and their disaggregation, both in terms of the multiple dimensions under analysis and in terms of the municipalities. The study offers a greater and deeper understanding of the regional reality and consequently can favour the efficiency of cohesion policies.

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Accessibility of Energy from Renewable Energy Sources for Inhabitants of Arctic Cities

Author(s): Aleksandr D. Stoyanov,Anastasiya S. Sakharova / Language(s): English / Issue: 3/2023

Keywords: energy utilisation; sustainable development; environmental impact; carbon dioxide; Arctic; hydraulic citizenship; renewable energy sources; renewable energy; sustainable development goals;

The subject of the present research is the assessment of access of residents of Northern cities to energy produced from renewable energy sources (RES). The largest Arctic cities in Russia, Sweden, Norway, Finland, Denmark, the USA and Canada, located above 66 ° 33 ´ North latitude, are analysed. The importance of the study is due to the categorisation of access to RES as a fundamental good in the context of Sustainable Development Goals and fight against climate change. The work uses the index method, followed by ranking cities by the level of access to energy from RES. The following variables constitute the index: variety of operators, variety of types of energy sources, alternatives of energy sources, micro- and macro-generation support. It was found that residents of Kiruna and Tromsø have the best access to energy from renewable sources due to the support of initiatives at all levels, while Utqiagvik has the lowest indicator due to its isolation. Energy from renewable energy sources does not have a significant share in all of the cities under consideration; moreover, the market is often monopolised, which limits the choice and availability of various energy sources. Consequently, it is important to create suitable conditions for developing of RES on all levels, with the focus on micro level (as it makes ordinary people participate actively in the agenda, which is the key to support such remote areas with energy); otherwise it is unlikely to support the cities and territories of the region with energy from RES.

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Impact of Diversity on Regional Economic Growth: A Case Study of Indonesia

Author(s): Abi Pratiwa Siregar,Nadila Puspa Arum Widjanarko / Language(s): English / Issue: 3/2023

Keywords: agricultural country; economic activity; entropy; human development index; regional economic growth; risk spread; trade openness;

Economic development at the national level cannot be separated from the influence of economic performance at the regional level. As a country with abundant natural resources and great human resource potential, Indonesia has 34 provinces with relatively different economic bases. Some areas depend on a single category: the primary, secondary, or tertiary sector. Meanwhile, the other provinces have business fields that contribute relatively equal to forming a fairly balanced Gross Regional Domestic Product (GRDP). These different economic bases produce various impacts when an economic shock occurs. Unfortunately, the effect of economic diversity on GRDP has rarely been the focus of previous studies. Therefore, this study investigates the influence of economic diversity on regional economic growth. Data were collected from the Central Agency of Statistics (BPS) from 2013 to 2020. Then, panel data with a fixed effects generalised least squares method were employed to determine the changes in the dependent variable caused by the changes of the independent variable. Furthermore, data analysis revealed that economic diversity positively and significantly impacts GRDP. In other words, encouraging all business fields to generate value-added goods and services within the region may increase its economy. Moreover, past time experiences empirically conclude that economic shocks heavily hit the tertiary sector. At the same time, the primary industry relatively survived and played the role of economic bearing to prevent an area from further suffering. Lastly, a suggestion for further study is to investigate a combination model of the primary, secondary, and tertiary sectors to support sustainable economic growth.

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Intensive and Extensive Margins of Export: Determinants of Economic Growth in Russian Regions under Sanctions

Author(s): Anna A. Fedyunina,Yuri V. Simachev,Igor Mikhailovich Drapkin / Language(s): English / Issue: 3/2023

Keywords: extensive margin; intensive margin; Russian regions; economic growth; sanctions;

The impact of foreign trade on the Russian economy’s growth remains debatable. In 2014, the economy faced initial sanctions, leading to export restructuring and affecting growth. In 2022, a second unprecedented wave of sanctions necessitated export restructuring and intensified the challenge of sourcing economic growth. This study evaluates the impact of intensive and extensive export margins on Russian regions’ growth from 2015 to 2021 and discusses post-2022 implications. It is hypothesised that new export goods and markets are vital for economic growth in Russian regions. The study shows that both intensive and extensive margins are positively related to the level of development in Russian regions, and developed regions with diversified economic structures had higher values of export margins. The methodology uses panel regression with random and fixed effects. The empirical results show Russian regions’ market share in the products they export and in the countries where they export (i. e. intensive product and geographic margin) is important for the economic growth of Russian regions, while the results for extensive margin are ambiguous. The obtained findings have implications for industrial policy, which should prioritise the development of measures aimed at supporting existing exporting companies in expanding their presence in familiar markets. The task of export diversification should primarily be addressed through working with existing exporters and export products, while the export of innovative products should be viewed as a gradual evolutionary process within the framework of long-term planning.

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An Empirical Analysis of the Impacts of Investment Incentives on Provincial Economic Growth in Turkey

Author(s): Halit Yanikkaya,Kübra Altay / Language(s): English / Issue: 3/2023

Keywords: investment incentives; growth; regional growth; panel data analysis; system GMM; sectoral analysis; Turkey;

There are significant differences between governments in the context of the objectives of incentive policies. However, they are generally focused on macroeconomic purposes such as eliminating regional inequalities and increasing investment level, employment, industrialisation and therefore raising economic growth. In Turkey, The New Investment Incentive System, which has been implemented since 2012, essentially aimed to mitigate interregional inequalities. This study investigates the impact of investment incentives on provincial per capita growth of 81 provinces for the years 2004-2017. Our data are also available for capital types and sectoral levels. The dynamic panel data estimates show that while the impact of the number of incentive certificates on provincial growth is significantly positive, there is no effect of fixed investment and employment on provincial growth. Moreover, given the significantly positive estimated coefficients on all three measures of investment incentives for the energy and manufacturing sectors, we conclude that incentives raise provincial growth for these two sectors. However, investment incentives in services, mining and agriculture sectors have no impact on regional growth. Results of the analysis of investment incentives by investor type imply that while investment incentives provided to domestic firms have no effect on growth, incentives for firms owned by foreigners have positive effects. Our study thus makes important contributions to the literature by considering both province-level incentive measures and five main sectors, namely energy, manufacturing, services, mining and agriculture in the sectoral analysis.

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Determinants of Regional Disparities in Housing Prices: A Spatial Analysis of German Regions

Author(s): Elena V. Semerikova,Anastasia O. Blokhina,Andreas Nastansky / Language(s): English / Issue: 3/2023

Keywords: spatial econometrics; German regions; housing market; housing costs; rental costs; determinants of housing costs; panel data spatial econometric models; weighting matrix; unemployment rate; migration;

Germany is characterised by heterogeneous regional development in various economic spheres, including housing markets. Differences in housing prices persist during decades, causing undesirable inequality, affecting migration and employment patterns. The purpose of this work is to identify regional factors which affect regional housing prices in Germany. The peculiarity of the study is the consideration of the spatial location of regions for analysing the influence of the characteristics of neighbouring regions. Based on data from 397 German regions for 2004-2019, spatial econometric panel data models are built, which consider both selling and rental prices. The following factors that affect demand in the housing market are used as determinants of housing prices: the unemployment rate, the balance of pendulum migration at the place of work and living, the share of employment, wages, the number of employees, gross regional product. The analysis findings revealed that factors that raise income for the population trigger an upsurge in demand and prices for housing. Conversely, opposite effects result in a decline in prices due to a decrease in demand. Moreover, it was verified that neighbouring regions mutually affect housing markets through pendulum migration and the creation of economic clusters with similar living standards and prices. Furthermore, changes in labour market metrics are crucial; unemployment, wages, and the number of workers in nearby regions have a significant influence on real estate prices in the area under examination. The study’s practical importance lies in the possibility of using its outcomes to develop regional and migration policies.

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INDIAN GOVERNMENT SCHEMES BASED ANALYSIS ON WOMEN EMPOWERMENT IN FINANCIAL INCLUSION

Author(s): Tanu Singh,Sarveshwar Pande / Language(s): English / Issue: 4/2023

Keywords: Women Empowerment; Financial inclusion; Government Schemes; One-way ANOVA; Post-Hoc Test;

In general Women belonging to villages tend to spend the maximum of their time in household activities without any hesitation. In return, they don't receive any merits or credits from the family and society. This paper aims in conducting detailed research work based on, the understanding found among women folk belonging to lower-middle-class women and poor income about the need for financial inclusion. The study was carried out in Ludhiana, Punjab among women from low-income and lower-middle-class households. Out of 1000 approaches, 757 respondents replied (75%). Later the data were organized and analyzed for the results. To make the work stronger a conceptual framework was framed. The tests like one-way ANOVA and Post-Hoc tests were also carried out. The outcomes showed that there are major differences seen when women are empowered and occupied they are reflecting positively on financial inclusion.

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VARIOUS CONVEXITIES AND SOME RELEVANT PROPERTIES OF CONSUMER PREFERENCE RELATIONS

Author(s): Jeffrey Yi-Lin Forrest,Tufan Tiglioglu,Yong Liu,Donald Mong,Marta Cardin / Language(s): English / Issue: 4/2023

Keywords: additive conservation; convex space; Euclidean space; half-space; positive multiplicativity; possible consumption; preorder; utility function;

The concept of convexity plays an important role in the study of economics and consumer theory. For the most part, such studies have been conducted on the assumption that consumer preferences are a binary relation that is complete, reflexive and transitive on the set 𝑋 of consumption choices. However, each consumer is a biological being with multidimensional physiological needs so that possible consumptions from different dimensions cannot be compared by using preferences. By removing that unrealistic assumption, this paper examines how the various concepts of convex preferences and relevant properties can be re-established. We derive a series of 10 formal propositions and construct 6 examples to show that (a) a weighted combination of two possible consumptions is not necessarily comparable with any of the consumptions; (b) not every convergent sequence of a consumer’s preferred consumptions asymptotically preserves that consumer’s preference preordering; (c) not all preferences satisfy either positive multiplicativity or additive conservation; (d) three types of preference convexities – weak convexity, convexity and strong convexity – can all be introduced into general convex spaces. This paper concludes with some research topics of expected significance for future works.

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The relationship between psychoanalysis and the scientific method

Vztah psychoanalýzy a vědecké metody

Author(s): Jakub Kuchař / Language(s): English / Issue: 2/2022

Keywords: Psychoanalysis and science; theoretical foundations of psychoanalysis; epistemology; Karl Popper; falsifiability; hermeneutics; natural sciences

Psychoanalysis is primarily concerned with the study of individual cases; in a professional critical debate, psychoanalysts systematize their findings from psychoanalytic sessions held several times a week under certain clearly defined conditions. Still, the philosopher of science Karl Popper believed that Freudian psychoanalysis was unscientific because its findings could not be refuted. This was later opposed by another prominent philosopher of science, Adolf Grünbaum, who argued that Freud had abandoned some of his original hypotheses, which were not confirmed in his later clinical practice (e.g., the theory of seduction). According to Grünbaum, classical psychoanalysis is unscientific more because of Freud‘s assumption that insight into unconscious processes is a necessary condition for recovery from neurosis. Among post-Freudian psychoanalysts one can find many different views on the question of the epistemological foundations of psychoanalysis. Some of them compare the psychoanalytic method to the methods used in the natural sciences. According to some, many parallels can be found between psychoanalysis and the theory of nonlinear dynamical systems. According to others, it is a special kind of hermeneutics.

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