Folia Oeconomica Stetinensia

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Publication: (2/24/2024)
Author(s): Not Specified Author
Contributor(s):
Language: English
Subject(s): Essay|Book Review |Scientific Life, Editorial
Issue: 2/24/2024
Page Range: 1-1
No. of Pages: 1
Keywords:
Summary/Abstract:

Poverty and Social Exclusion in European Countries

Poverty and Social Exclusion in European Countries
(Poverty and Social Exclusion in European Countries)

Publication: (2/24/2024)
Author(s): Iwona Bąk, Emilia Barej-Kaczmarek
Contributor(s):
Language: English
Subject(s): Economy, National Economy, Public Finances, Socio-Economic Research
Issue: 2/24/2024
Page Range: 3-19
No. of Pages: 17
Keywords: poverty; social exclusion; EU countries; taxonomic measure of development; Weber median
Summary/Abstract: Research background: Social exclusion and poverty constitute pressing issues in contemporary societies and significant obstacles to achieving sustainable social development. In contemporary Europe, they are recognised as one of the most severe social problems. Consequently, the pursuit of research in this domain appears entirely justified. Purpose: This paper aims to examine the disparities in levels of poverty and social exclusion among European Union countries, employing an analysis of the indicators delineated in Agenda 2030. Research methodology: The linear ordering and determination of the typological groups of objects was conducted using a method based on the median Weber vector. To ascertain potential changes in the phenomenon under investigation, the survey was conducted in two years: 2015 and 2022. Results: The linear ordering of objects, as presented in the paper, revealed that Romania, Bulgaria and Latvia consistently exhibited the highest levels of poverty and social exclusion, regardless of the year studied. In 2015, Greece was also included in this Group. Conversely, nations situated in the northern regions of Europe, including Scandinavian countries, consistently demonstrated the lowest levels of the studied phenomenon. The empirical research results thus underscore substantial disparities between developed and developing countries. Novelty: The paper makes a valuable contribution to the current European and global academic discourse on poverty and social exclusion, both recognised as formidable social challenges worldwide.Research background: Social exclusion and poverty constitute pressing issues in contemporary societies and significant obstacles to achieving sustainable social development. In contemporary Europe, they are recognised as one of the most severe social problems. Consequently, the pursuit of research in this domain appears entirely justified. Purpose: This paper aims to examine the disparities in levels of poverty and social exclusion among European Union countries, employing an analysis of the indicators delineated in Agenda 2030. Research methodology: The linear ordering and determination of the typological groups of objects was conducted using a method based on the median Weber vector. To ascertain potential changes in the phenomenon under investigation, the survey was conducted in two years: 2015 and 2022. Results: The linear ordering of objects, as presented in the paper, revealed that Romania, Bulgaria and Latvia consistently exhibited the highest levels of poverty and social exclusion, regardless of the year studied. In 2015, Greece was also included in this Group. Conversely, nations situated in the northern regions of Europe, including Scandinavian countries, consistently demonstrated the lowest levels of the studied phenomenon. The empirical research results thus underscore substantial disparities between developed and developing countries. Novelty: The paper makes a valuable contribution to the current European and global academic discourse on poverty and social exclusion, both recognised as formidable social challenges worldwide.

Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables

Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables
(Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables)

Publication: (2/24/2024)
Author(s): Aris Budiono
Contributor(s):
Language: English
Subject(s): Economy, Accounting - Business Administration, Human Resources in Economy, Business Ethics, Socio-Economic Research
Issue: 2/24/2024
Page Range: 20-40
No. of Pages: 21
Keywords: Performance; Job satisfaction; Organizational commitment; Leadership; Training
Summary/Abstract: Research background: Efficiency and effectiveness in treating workers are the focus of this research in an era completely limited by circumstances to adapt to these rapid changes by analyzing the influence of leadership and training on job satisfaction, organizational commitment, and the subsequent impact on performance. Purpose: To determine the impact of leadership and training on performance through job satisfaction and organizational commitment.Research methodology: We use quantitative methods with a path analysis. The statistical application of IBM SPSS 24 is used to calculate tiered linear regression statistics on three substructures. Substructure 1 analyzes job satisfaction, which is influenced by leadership and training. Substructure 2 explores organizational commitment as influenced by leadership and training. Substructure 3 studies performance as affected by leadership, training, job satisfaction, and organizational commitment.Results: Performance is directly influenced by leadership, training, job satisfaction, and organizational commitment. Job satisfaction is influenced by leadership and training. Organizational commitment is influenced by leadership and training. On the indirect effect, performance is influenced by leadership and training, both job satisfaction and organizational commitment as mediating variables.Novelty: Several workforce behavioral variables were integrated to adapt to rapid environmental changes.

The Prospects of Small Business Entities in the Agricultural Production System of Ukraine.

The Prospects of Small Business Entities in the Agricultural Production System of Ukraine.
(The Prospects of Small Business Entities in the Agricultural Production System of Ukraine.)

Publication: (2/24/2024)
Author(s): Heorhiy Cherevko, Ihor Yatsiv, Iryna Cherevko, Svitlana Yatsiv
Contributor(s):
Language: English
Subject(s): Economy, Agriculture, Human Resources in Economy, Socio-Economic Research
Issue: 2/24/2024
Page Range: 41-68
No. of Pages: 28
Keywords: agriculture; small agricultural enterprises; individual entrepreneurs; efficiency of farming
Summary/Abstract: Research background: The number of small agricultural enterprises in Ukraine has been decreasing in recent years, and their share in the total volume of production and sale of agricultural products has remained stable at a relatively low level. At the same time, there is a public demand for the growth of the role of small agricultural enterprises, which can perform important economic and social functions. Ensuring the effective development of small agrarian business entities involves the use of strategies and approaches that take into account the specifics of the relevant groups of agricultural producers.Purpose: The purpose of the paper is to justify the prospects of small agrarian business in Ukraine, taking into account the trends of its development, including in the conditions of martial law. Research methodology: The research used data from the State Statistics Service of Ukraine. The research methodology is based on the general dialectic approach and includes the following methods: induction, deduction, analysis of dynamic series, and graphical.Results: The peculiarities of the formation of the contribution of small agricultural enterprises into the supply of agricultural products in Ukraine are revealed. A generally high level of economic efficiency, a satisfactory level of technological efficiency and a relatively low level of social efficiency of small farms were established. Prospective strategies for the development of various categories of small agricultural enterprises are outlined, taking into account the mechanisms and sources of their support, which can be used in the conditions of martial law and the post-war period. The application of these strategies can ensure positive socio-economic changes in the agricultural production system of Ukraine.Novelty: A differentiated assessment of the results of the activities of small enterprises and individual entrepreneurs in the agricultural economy of Ukraine in the pre-war period and in the conditions of martial law was carried out. The prospects for the development of small farms in the post-war period are outlined, taking into account changes in the environment of their operation and the application of separate regulatory instruments.

How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment

How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment
(How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment)

Publication: (2/24/2024)
Author(s): Laxmipriya Das, Sasmita Mohanty
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration, Socio-Economic Research
Issue: 2/24/2024
Page Range: 69-99
No. of Pages: 31
Keywords: Higher Educational Institutions; Human Capital; Organizational Citizenship Behavior; Organizational Commitment; Organizational Justice
Summary/Abstract: Research background: Higher education faculty members who perceive fairness and equity can demonstrate citizenship behavior and they can develop feelings of belongingness and cohesiveness which will assist them to build intellectual assets and appreciate human capital. This study enhances the professional well-being of faculty members by enhancing their human capital, with a specific focus on the importance of their skills, knowledge, and abilities.Purpose: The study aimed to assess the degree to which organizational commitment (OC ) serves as a mediator in the relationship between organizational justice (OJ) and organizational citizenship behavior (OCB).Research methodology: The data analysis was conducted using path analysis, and the data processing was carried out using Smart PLS 3.0. This study employed quantitative methods and involved a sample of 470 faculty members from higher educational institutions (HEIs) in India, selected using a purposive sampling technique.Results: The research results suggest that there exists a favorable correlation between OJ, OCB, and OC. Novelty: The novelty of this research lies in its ambitious pursuit of creating an extensive knowledge repository, fostering a culture of research-oriented learning, and providing invaluable insights that will empower the future generation to propel the academic sector forward.

State and Prospects for Development of the Payment Card Market in Poland

State and Prospects for Development of the Payment Card Market in Poland
(State and Prospects for Development of the Payment Card Market in Poland)

Publication: (2/24/2024)
Author(s): Anna Feruś
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Financial Markets, Socio-Economic Research
Issue: 2/24/2024
Page Range: 100-124
No. of Pages: 25
Keywords: payment cards; cashless payments; electronic banking
Summary/Abstract: Research background: The development of innovative technologies has contributed to significant changes in the market for payment instruments. These changes have become a challenge for banks and have contributed to the continuous expansion of the products they offer, more technologically advanced, which will provide the customer with a high level of security. Banks, in order to meet customer expectations, are developing and improving the most popular distribution channels for their services, which are undoubtedly payment cards.Purpose: The aim of the paper is to define and classify non-cash payment instruments in the Polish payment card market from 2009 to 2023, as well as to assess the trends of changes that may occur in the payment card market at the end of 2024 and in 2025. Research methodology: A study of the payment card market in Poland was carried out, and the factors determining the development of non-cash payments were presented, as well as the directions of its future changes. Development trend (trend) models were used for the study, and then used to forecast the changes that will take place in the payment card market in Poland at the end of 2024 and in 2025.The analysis was carried out using the program STATI STICA 13.3.Results: Bank customers are increasingly carrying out transactions using electronic payment instruments, the most common form of which are payment cards. The payment card is one of the better options for obtaining funds, as evidenced by the systematic annual increase in the number of such cards issued. The COVID-19 pandemic greatly affected the increase of payment card use in Poland.Novelty: Further advances in technology will bring new solutions to the payment card market and at the same time develop the digital money market. The CO VID-19 pandemic undoubtedly accelerated the payment needs and expectations of consumers, who are more willing to use digital technologies in the new reality. Banks, in turn, see modern technological solutions as achieving a competitive advantage in the market.

The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude

The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude
(The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude)

Publication: (2/24/2024)
Author(s): Vit Hinčica, Dominika Janků, Hana Řezanková
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Business Ethics
Issue: 2/24/2024
Page Range: 125-140
No. of Pages: 16
Keywords: business; risks; Czech Republic; companies; clauses; risk perception
Summary/Abstract: Research background: Universally, it remains unknown which clauses used in international sales contracts are seen by the business sector as crucial for reducing perceived risks. It is also unknown whether there is a relationship between companies’ attitudes toward risks and the number of clauses they consider essential in international sales contracts for this purpose. Purpose: The paper surveys how Czech companies assess the importance of selected clauses in an international sales contract when trying to reduce the risks they perceive. The primary purpose is to learn whether there is a concordance with the available literature on the number of clauses considered important, key, or necessary for reducing risks. Research methodology: Companies were offered nine clauses commonly used in international sales contracts and were asked to rate them according to their importance for reducing risks. Furthermore, possible relationships between companies’ attitudes toward risk and the number of clauses these companies perceive as important from the point of view of their risk attitude were investigated. Results: Whereas the existing literature provides different numbers of key clauses a sales contract shall include to make such a contract safe enough from the perspective of the perceived risks, the 114 surveyed Czech companies mostly gave the highest level of importance to four of the nine assessed clauses only. These clauses are the identification of parties, price setting, the object of sale and payment terms. There is an indication that companies with an aggressive attitude toward risks could consider fewer clauses as important. Novelty: The study suggests that the number of clauses that are formulated with enough care for the sake of risk reduction is lower than the numbers proposed by the existing sources. The authors contradict extant academic business literature and expert texts on the issue in question by launching the first survey among companies ever. Note: This paper is a significantly modified and extended version of a text presented at the 48th EI BA Annual Conference – Oslo, in December 2022

Accounting Conservatism in Non-State Companies and Consolidated Financial Statements

Accounting Conservatism in Non-State Companies and Consolidated Financial Statements
(Accounting Conservatism in Non-State Companies and Consolidated Financial Statements)

Publication: (2/24/2024)
Author(s): Bilal Kimouche, Hemza Boussenna
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration
Issue: 2/24/2024
Page Range: 141-161
No. of Pages: 21
Keywords: Accounting conservatism; Asymmetric timeliness of earnings; State ownership; Accounting consolidation
Summary/Abstract: Research background: Accounting conservatism has been a significant area of research in the last few decades due to its effects on financial reporting quality. Nevertheless, it has been influenced by many factors that lead companies to be more or less conservative.Purpose: This paper aims to contribute to this research stream by exploring the impact of state ownership and consolidation on accounting conservatism. The literature has not given much attention to state ownership and has never explored consolidation.Research methodology: The study employed the data of 90 Algerian companies from 2016 to 2021 and employed Basu’s (1997) model to measure conservatism. The relationships between variables were estimated using linear regression.Results: The results indicate that Algerian companies’ financial statements are generally conservative. However, accounting conservatism is more prevalent in state companies and separate financial statements.Novelty: The study is the first in Algeria and is among the few studies that are interested in accounting consolidation as a determinant of conservatism.

Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa

Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa
(Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa)

Publication: (2/24/2024)
Author(s): Thabiso Sthembiso Msomi, Odunayo Magret Olarewaju
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration, Business Ethics
Issue: 2/24/2024
Page Range: 162-181
No. of Pages: 20
Keywords: SME Resilience; Strategic Partnerships; Technological Advancements; Employee Engagement; Customer Relationships.
Summary/Abstract: Research background: Small and medium-sized enterprises (SME s) face unique challenges that require a deeper understanding of the mechanisms that contribute to their resilience in a dynamic economic landscapePurpose: This study investigates the factors that impact the resilience of SME s, highlighting strategic partnerships, technological advancements, employee engagement, and customer relationships as pivotal elements.Research methodology: Employing Yamane’s formula and purposive sampling, the research involved the distribution of a closed-ended questionnaire via email, resulting in an 85% response rate from 153 SME owners and managers. Results: Utilizing a multiple linear regression analysis, the research findings revealed an adjusted R-squared of 94.50%, signifying a significant influence of the identified factors on SME resilience in South Africa. Notably, the statistical significance of strategic partners management, technology adoption, employee engagement, and customer relationship management (CRM) emphasizes their contributions to SME resilience.Novelty: Enhancing SME resilience involves actively cultivating strategic partnerships for effective disruption anticipation and response. Prioritizing the adoption of relevant technologies, supported by policymakers, can elevate efficiency and adaptability. Crucially, investment in a positive work culture through employee engagement, continuous training, and adaptive human resource strategies is vital. Moreover, businesses should prioritize customer-centric approaches, adopting effective CRM strategies to comprehend customer needs and fortify their market presence.

Causality between ICT, Financial Development and Economic Growth in Kenya

Causality between ICT, Financial Development and Economic Growth in Kenya
(Causality between ICT, Financial Development and Economic Growth in Kenya)

Publication: (2/24/2024)
Author(s): Mercy T. Musakwa, Nicholas M. Odhiambo
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Financial Markets, Public Finances, Accounting - Business Administration, Socio-Economic Research
Issue: 2/24/2024
Page Range: 182-201
No. of Pages: 20
Keywords: Information and communication technology (ICT); economic growth; financial development; Kenya; autoregressive distributed lag (ARDL)
Summary/Abstract: Information and communication technology (ICT); economic growth; financial development; Kenya; autoregressive distributed lag (ARDL)Research background: The growing importance of information and communication technology (ICT ) in every facet of life motivated this study to examine the association between ICT, financial development and economic growth.Purpose: The purpose of the study is to establish if there is a causal relationship among ICT, financial development and economic growth using annual data from 1990 to 2021.Research methodology: The study used ARDL bounds test for cointegration and the error correction model (ECM) – based Granger causality technique to examine the causal relationship between the three variables. Three proxies for ICT : the number of fixed telephone subscriptions per 100 people, the number of individuals using the internet as a percentage of the total population, and the number of cellular subscriptions per 100 people were used.Results: The study found the causality between ICT, financial development and economic growth to vary depending on the ICT proxy used. A unidirectional causal flow from ICT to economic growth was found to predominate in the long run when two out of three ICT proxies were considered. The study also found bidirectional causality between ICT and financial development to dominate in the short run when two out of three ICT proxies were considered and a unidirectional causal flow from ICT to financial development in the long run when all three ICT proxies were considered.Novelty: The study departs from the current literature on the causal relationship between ICT, financial development and economic growth by employing three proxies of ICT , namely the number of telephone subscriptions per 100 people, the number of cellular subscriptions per 100 people and the number of individuals using the internet as a percentage of the total population

A Sectoral Perspective on the Sharing Economy‘s Development.

A Sectoral Perspective on the Sharing Economy‘s Development.
(A Sectoral Perspective on the Sharing Economy‘s Development.)

Publication: (2/24/2024)
Author(s): Valentinas Navickas, Ieva Petrokė, Yuriy Bilan
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Micro-Economics, Financial Markets, Accounting - Business Administration
Issue: 2/24/2024
Page Range: 202-228
No. of Pages: 27
Keywords: development; digital platforms; digital transformation; economic sectors; sharing economy
Summary/Abstract: Research background: The sharing economy has experienced significant growth over the past decade. This phenomenon has introduced a new way of consuming services and goods. Nevertheless, while its benefits have been extensively studied, there is a limited understanding of its implications across various sectors.Purpose: This study examines the potential of the sharing economy model and its application in different economic sectors. It seeks to understand the dynamics of each sector and provide a comprehensive view of the sharing economy’s landscape from a sectoral perspective.Research methodology: An expert survey approach was adopted for this study. Twelve experts with more than four years of experience and significant influence in different economic sectors were interviewed.Results: The results showed that the sharing economy model is seen as an important factor with a high potential to change traditional business models, especially in the research and knowledge sector.Novelty: This research is among the first to take a sectoral perspective on the sharing economy’s development. By examining its implications across different sectors, this study offers a holistic view of the sharing economy, moving beyond the often singular focus on specific platforms. The insights derived from the research can inform policymakers, industry leaders, and entrepreneurs about the potential trajectories and considerations for the sharing economy in diverse sectors.

Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis

Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis
(Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis)

Publication: (2/24/2024)
Author(s): Afees O. Noah, Olalekan O. David
Contributor(s):
Language: English
Subject(s): Economy, National Economy, Financial Markets, Public Finances, Accounting - Business Administration, Business Ethics
Issue: 2/24/2024
Page Range: 229-251
No. of Pages: 23
Keywords: infrastructure development; official development assistance; private participation in infrastructure; foreign direct investment; Sub-Saharan Africa
Summary/Abstract: Research background: It is evident that relying solely on domestic financing cannot bridge the infrastructure gap in the Sub-Saharan African (SSA) region. Therefore, exploring alternative sources of financing becomes crucial to complement domestic efforts and address the infrastructure needs effectively.Purpose: This study investigates the relationship between infrastructure development and external financing factors (foreign direct investment – FDI, private participation in infrastructure – PPI, and official development assistance – ODA) by considering the short- and long-run equilibrium and their causal direction.Research methodology: These objectives are achieved by employing the panel vector error correction mechanism (PVECM ), impulse response functions (IRF), variance decomposition analysis (VDCs), and VAR causality on a dataset covering 43 SSA countries from 2000 to 2021.Results: The results reveal the presence of feedback causal relationships between infrastructure development and external financing factors, and PVECM results demonstrate that only private participation in infrastructure has a positive influence on infrastructure development both in the long and short-run, while ODA and FDI only influence infrastructure development in the long- run.Novelty: The current study contributes to the existing literature by examining the impact of external financing factors on infrastructure development, with a specific focus on SSA, by considering the three major external financing factors (PPI, FDI, and ODA) as the determinants of infrastructure.

Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland

Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland
(Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland)

Publication: (2/24/2024)
Author(s): Bartłomiej Pilch
Contributor(s):
Language: English
Subject(s): Economy, National Economy, Financial Markets, Public Finances, Socio-Economic Research
Issue: 2/24/2024
Page Range: 252-279
No. of Pages: 28
Keywords: value relevance; CO VID-19; war in Ukraine; economic crisis
Summary/Abstract: Research background: Within the research area of value relevance (VR), the impact of macroeconomic changes is usually analysed. The influence of economic crises, such as the Asian financial crisis, global financial crisis, and COVID-19, on VR was, however, inconclusive. Moreover, it differs between individual markets.Purpose: The aim of the paper was to analyse the impact of CO VID-19 and the war in Ukraine on the value relevance with the example of Polish listed companies. VR of earnings, book values, and cash flows was taken into account in this regard.Research methodology: Panel data models (fixed effects) were used. The focus was especially on interactions between earnings per share (EPS), book values per share (BVPS), cash flows per share (CFO), and binary variables referring to periods of CO VID-19 and the war in Ukraine.Results: VR of earnings, book values, and cash flows noted the positive impact of COVID-19. However, the war affected book values and cash flows negatively. The results obtained highlight the specificity of different crises and various markets, with the findings being only partially in line with the results of previous studies.Novelty: So far, the impact of the war in Ukraine on VR has not been analysed. Moreover, the influence of CO VID-19 on VR on the Polish market has also not been studied.

Life Situation of Polish Seniors – Their Subjective Assessment

Life Situation of Polish Seniors – Their Subjective Assessment
(Life Situation of Polish Seniors – Their Subjective Assessment)

Publication: (2/24/2024)
Author(s): Klaudia Przybysz, Agnieszka Stanimir
Contributor(s):
Language: English
Subject(s): Economy, Financial Markets, Public Finances, Socio-Economic Research
Issue: 2/24/2024
Page Range: 280-303
No. of Pages: 24
Keywords: seniors quality of life; pilot survey; empirical approach; elderly people; ageing societies
Summary/Abstract: Research background: S eniors w ield i nfluence a cross a spectrum of social spheres. Understanding their attitudes, needs, challenges, and expectations emerges as imperative for shaping effective social policies and social inclusion. Their significant heterogeneity necessitates the repetition and deepening of analyses for an objective picture possible.Purpose: The main aim of our studies was to broaden the knowledge about seniors, their life situation, life satisfaction, quality of life and everyday problems and challenges.Research methodology: Two rounds of pilot studies were conducted. The first taking place in the Q1 2020, and the second in the Q1 2024. The same interview questionnaire for both rounds was used. Sampling for each study was conducted using the snowball method.Results: The image of seniors depicted in our research aligns with that of seniors across the EU. While there have not been many changes observed over time, we observed their increased willingness to engage in social interactions post – CO VID-19 pandemic.Novelty: The study’s significance stems from its direct engagement with seniors, enabling candid discussions wherein they shared insights into numerous facets of their lives. We discovered seniors’ aversion to self-identifying as ‘seniors’ and their reluctance towards utilizing services explicitly aimed at their demographic age group. The study underscored the imperative of addressing seniors’ needs holistically, as exemplified by Stanimir’s House of Seniors’ Needs framework.

Investigating the Effects of Advancements in Information and Communication Technology and Financial Development on Tourism Growth: A Case of South Africa.

Investigating the Effects of Advancements in Information and Communication Technology and Financial Development on Tourism Growth: A Case of South Africa.
(Investigating the Effects of Advancements in Information and Communication Technology and Financial Development on Tourism Growth: A Case of South Africa.)

Publication: (2/24/2024)
Author(s): Patrick Ssekitoleko, Jean Claude Manaliyo
Contributor(s):
Language: English
Subject(s): Economy, Micro-Economics, Accounting - Business Administration, Tourism, ICT Information and Communications Technologies, Socio-Economic Research
Issue: 2/24/2024
Page Range: 304-326
No. of Pages: 23
Keywords: ICT ; Financial development; Tourism; ARDL; South Africa
Summary/Abstract: Research background: South Africa’s tourism industry has been experiencing unstable growth in the past few decades due to different factors. Studies in different countries have documented the significance of information and communications technology (ICT), and financial development towards a country’s tourism growth. ICT and financial development may stimulate the growth of South Africa’s tourism industry.Purpose: To investigate the extent to which ICT advancements and financial development influence tourism growth in South Africa, given that the country has relatively strong financial and ICT sectors.Research methodology: The study used annual time-series data for the period 1989 to 2019, and the variables are financial development, ICT, and tourism growth. The data were analysed using the Autoregressive Distributed Lag (ARDL) model.Results: The findings indicate the existence of a long-run relationship among the variables. Results for the long-run estimates show that only ICT has a positive and statistically significant effect on tourism growth. In the short-run, financial development has a positive significant effect on tourism growth, while ICT only registers a significant effect on tourism growth in the fourth lag, albeit negative. The policy implication of these results is that the South African government ought to promote financial development to ensure that money is available and accessible for investment in tourism businesses and for tourist spending. Furthermore, ICT upgrades are required by the government and tourism service providers to enhance tourism products and service accessibility for tourists from wider geographical locations.Novelty: This study expanded the existing literature by assessing the effects of ICT and financial development on South Africa’s tourism.

Income Inequalities between Women and Men in Selected European Countries

Income Inequalities between Women and Men in Selected European Countries
(Income Inequalities between Women and Men in Selected European Countries)

Publication: (2/24/2024)
Author(s): Kamila Trzcińska
Contributor(s):
Language: English
Subject(s): Economy, Human Resources in Economy, Business Ethics, Socio-Economic Research
Issue: 2/24/2024
Page Range: 327-343
No. of Pages: 17
Keywords: income distribution; Dagum model; Gini index; Zenga index; Theil index; decomposition; Lorenz curve; gender inequality
Summary/Abstract: Research background: Income inequalities between women and men often constitute an important area of research related to social inequalities. Differences in incomes between genders are frequently analyzed in the context of gender equality, social justice, and economic equity. Disparities in wages between women and men are observed in many societies. A key tool in studying wage and income distributions, as well as income inequalities, is the approximation of theoretical models to empirical data. Another important tool is the use of income inequality measures. Research on income distributions between women and men is significant for various reasons, including facilitating an understanding of social and economic inequalities. Purpose: In Europe, there is diversity in economic models, with individual countries adopting different approaches to organizing their economic systems. The paper considers four European countries representing diverse economic approaches. A comparative analysis of income inequality between men and women was conducted in the countries under consideration. Research methodology: The study used data from the Central European Bank from 2017. All analyzes were based on the Dagum model. The maximum likelihood method was used to estimate the model parameters. The Theil coefficient decomposition was also applied. Results: The analysis reveals that men earn the highest incomes in all countries. Visualization of the Lorenz and Zenga curves, along with calculated inequality indices, showed that the greatest income inequalities occur in women’s incomes in all cases. Interestingly, it was found that men’s incomes make the largest contribution to the overall income inequalities. Novelty: The paper explores the topic of income inequality, which is a significant and contemporary socioeconomic challenge. It utilizes statistical information from the Eurosystem Household Finance and Consumption (HFCS) to examine and assess the financial status of households, focusing on both genders, in Finland, Germany, Poland, and Spain.

The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices

The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices
(The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices)

Publication: (2/24/2024)
Author(s): Necmiye Serap Vurur, Letife Özdemir, Ercan Özen, Simon Grima
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Micro-Economics, Energy and Environmental Studies, Financial Markets
Issue: 2/24/2024
Page Range: 344-370
No. of Pages: 27
Keywords: renewable energy; polluting energy; ESG investing; risk management
Summary/Abstract: Research background: The link between the price of polluting energy supplies and the renewable energy stock index may be intricate and subtle. Investors need to conduct thorough inquiries and analyses to completely understand the correlation between these industries.Purpose: This study aims to explore the intricate dynamics between renewable energy stocks and conventional fossil fuel-based resources.Research methodology: Our analysis encompasses daily data spanning from June 9, 2012, to March 31, 2023, extracted from the WilderHill New Energy Global Innovation Index (NEX), Crude Oil (WTI OIL), Coal (COAL), and Natural Gas (NGAS). Key statistical tests include the Johansen co-integration test, the fully modified ordinary least squares (FMOLS) test, and the Granger causality test.Results: The study shows a long-term co-integration relationship between renewable energy stocks and polluting energy sources. Oil prices positively impact the renewable stock index, while coal prices negatively affect it. Natural gas prices also positively correlate with the index, and short-term relationships exist with oil prices.Novelty: The study provides valuable insights for investors, state authorities, and policymakers on optimising ESG portfolio diversification and sustainable development policies in energy, environment, and climate. It helps stakeholders understand investor behaviour, market trends, and policy impacts, enabling effective long-term investment strategies.

Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust

Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust
(Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust)

Publication: (2/24/2024)
Author(s): Widyastuti Widyastuti
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Human Resources in Economy, Business Ethics, Socio-Economic Research
Issue: 2/24/2024
Page Range: 371-388
No. of Pages: 18
Keywords: value co-creation; e-commerce; trust; personality traits; conscientiousness; agreeableness
Summary/Abstract: Research background: It is important for companies to pay attention to the value of co-creation in order to encourage innovation and the development of new products where the source of ideas for innovation and new products comes from consumers. Participation in value co-creation is voluntary and depends on the consumer’s willingness to be involved, so there needs to be motivation within the consumer to carry out value co-creation. Therefore, it is necessary to understand the consumer’s personality which can encourage co-creation.Purpose: This study aims to analyze the factors that influence online value co-creation in e-commerce platforms. This study attempts to examine the value co-creation that occurs online by emphasizing the interaction between consumers. In addition, the researcher examines the role of personality traits on value co-creation.Research methodology: The population in this study are consumers aged 16 to more than 40 years who have experience in purchasing products in e-commerce and have given ratings, reviews, or comments on products and services in e-commerce. The Purposive sampling technique was used to select the sample of 152 consumers. PLS-SEM was used as an analytical technique.Results: The results reflect that personality traits and beliefs are the driving factors for online cocreation. This study also reveals that trust does not act as a mediator in the influence of personality traits on value co-creation. Conscientiousness is the dominant trait in the influence of personality traits on trust and value co-creation. This study only uses two dimensions of personality traits, namely conscientiousness and agreeableness. Future research should consider using the five dimensions of personality traits. The implication of this research is to enrich knowledge about the factors that influence the occurrence of value co-creation online and it is projected for marketers to provide ease of use features for further co-creation.Novelty: This research discusses interactions between consumers in e-commerce as a form of co-creation that has not been widely done.

The Ephemeral Term “Sustainable Development” in Current EU Policies

The Ephemeral Term “Sustainable Development” in Current EU Policies
(The Ephemeral Term “Sustainable Development” in Current EU Policies)

Publication: (2/24/2024)
Author(s): Veronika Zavřelová, Radka MacGregor Pelikánová
Contributor(s):
Language: English
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, EU-Approach / EU-Accession / EU-Development, Socio-Economic Research
Issue: 2/24/2024
Page Range: 389-418
No. of Pages: 30
Keywords: EU law; responsibility; sustainable development; sustainable growth
Summary/Abstract: Research background: The term “sustainable development” is an omnipresent expression reaching the dimension of a command in the EU under the leadership of Ursula von der Leyen. However, this is an ephemeral term with ambiguous and contradictory meanings which is employed in a particular manner by current EU policies.Purpose: The purpose of this study is to reconcile various approaches and consolidate the understanding of sustainable development as advanced by current EU policies.Research methodology: A historical and conceptual review creates a foundation to prepare comparative review tables to be filled with information about current EU policies and their quotes regarding “sustainable development”, as extracted from the EU Commission Websites and EurLex. This allows for a holistic, thematic and critical analysis about the teleological meaning as well as glossing and Socratic questioning.Results: The juxtaposition of these findings suggests that the term “sustainable development” is a semantic puzzle which is perceived by current EU policies as a call for multispectral and inherently conflicting changes to be imposed by all stakeholders in the utilitarian context.Novelty: Six pioneering propositions with controversial features emerge and are to be verified by further multidisciplinary longitudinal studies.

The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds

The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds
(The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds)

Publication: (2/24/2024)
Author(s): Dorota Żebrowska-Suchodolska
Contributor(s):
Language: English
Subject(s): Economy, Business Economy / Management, Financial Markets, Public Finances
Issue: 2/24/2024
Page Range: 419-437
No. of Pages: 19
Keywords: market timing; selectivity; fund size; classification; open-ended mutual funds; performance funds; decision making
Summary/Abstract: Research background: Investment funds are an important part of the capital market. Household savings in this type of asset are increasing every year. From an investor’s point of view, the performance of funds is important. These, along with the risks, are what most often determine the choice of fund type and finally the specific fund. The performance of a fund is often determined by both the size of the fund and the application of the managers’ selectivity and market sense.Purpose: The aim of this research is to investigate the impact of fund size on performance through the use of selectivity and market sense by managers. Dividing funds into size groups will allow the search for patterns in terms of managers’ use of market timing.Research methodology: The research used a Treynor-Mazuy model as a market timing model and Ward’s method as the cluster analysis methods. The performance of the funds was determined using an investment performance indicator, i.e., Omega.Results: The obtained results indicate that the funds are similar within the groups. However, there were differences in the results between the groups. During periods of high volatility, it is recommended to invest in units of funds with an average size below the median.Novelty: The added value is the study of market timing in groups of funds similar in size. In each group, the results of the Treynor-Mazuy model estimation, and the Omega investment efficiency index were determined, and the differences in the obtained results between the groups were examined. Finally, all funds were clustered using the Ward method.

Folia Oeconomica StetinensiaFolia Oeconomica Stetinensia

Articles list

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erratum (erratum)

Poverty and Social Exclusion in European Countries

Poverty and Social Exclusion in European Countries (Poverty and Social Exclusion in European Countries)

Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables

Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables (Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables)

The Prospects of Small Business Entities in the Agricultural Production System of Ukraine.

The Prospects of Small Business Entities in the Agricultural Production System of Ukraine. (The Prospects of Small Business Entities in the Agricultural Production System of Ukraine.)

How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment

How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment (How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment)

State and Prospects for Development of the Payment Card Market in Poland

State and Prospects for Development of the Payment Card Market in Poland (State and Prospects for Development of the Payment Card Market in Poland)

The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude

The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude (The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude)

Accounting Conservatism in Non-State Companies and Consolidated Financial Statements

Accounting Conservatism in Non-State Companies and Consolidated Financial Statements (Accounting Conservatism in Non-State Companies and Consolidated Financial Statements)

Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa

Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa (Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa)

Causality between ICT, Financial Development and Economic Growth in Kenya

Causality between ICT, Financial Development and Economic Growth in Kenya (Causality between ICT, Financial Development and Economic Growth in Kenya)

A Sectoral Perspective on the Sharing Economy‘s Development.

A Sectoral Perspective on the Sharing Economy‘s Development. (A Sectoral Perspective on the Sharing Economy‘s Development.)

Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis

Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis (Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis)

Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland

Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland (Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland)

Life Situation of Polish Seniors – Their Subjective Assessment

Life Situation of Polish Seniors – Their Subjective Assessment (Life Situation of Polish Seniors – Their Subjective Assessment)

Investigating the Effects of Advancements in Information and Communication Technology and Financial Development on Tourism Growth: A Case of South Africa.

Income Inequalities between Women and Men in Selected European Countries

Income Inequalities between Women and Men in Selected European Countries (Income Inequalities between Women and Men in Selected European Countries)

The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices

The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices (The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices)

Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust

Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust (Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust)

The Ephemeral Term “Sustainable Development” in Current EU Policies

The Ephemeral Term “Sustainable Development” in Current EU Policies (The Ephemeral Term “Sustainable Development” in Current EU Policies)

The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds

The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds (The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds)

Short Description

Folia Oeconomica Stetinensia
Folia Oeconomica Stetinensia

erratum
(erratum)

Poverty and Social Exclusion in European Countries
(Poverty and Social Exclusion in European Countries)

Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables
(Job Performance Influenced by Leadership and Training: Job Satisfaction and Organizational Commitment as Mediator Variables)

The Prospects of Small Business Entities in the Agricultural Production System of Ukraine.
(The Prospects of Small Business Entities in the Agricultural Production System of Ukraine.)

How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment
(How to Develop Human Capital through Organizational Justice, Organizational Citizenship Behavior, and Organizational Commitment)

State and Prospects for Development of the Payment Card Market in Poland
(State and Prospects for Development of the Payment Card Market in Poland)

The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude
(The Importance of Selected Clauses in International Sales Contracts from the Point of View of Risk Perception and A ttitude)

Accounting Conservatism in Non-State Companies and Consolidated Financial Statements
(Accounting Conservatism in Non-State Companies and Consolidated Financial Statements)

Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa
(Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa)

Causality between ICT, Financial Development and Economic Growth in Kenya
(Causality between ICT, Financial Development and Economic Growth in Kenya)

A Sectoral Perspective on the Sharing Economy‘s Development.
(A Sectoral Perspective on the Sharing Economy‘s Development.)

Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis
(Infrastructure development and external financing nexus in Sub-Saharan Africa: Panel VECM analysis)

Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland
(Have COVID-19 and the War in Ukraine Caused a Decline in the Value Relevance of Accounting Information? Evidence from Poland)

Life Situation of Polish Seniors – Their Subjective Assessment
(Life Situation of Polish Seniors – Their Subjective Assessment)

Income Inequalities between Women and Men in Selected European Countries
(Income Inequalities between Women and Men in Selected European Countries)

The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices
(The Impact of Stock Prices of Polluting Energy Sources on Renewable Energy Stock Index Prices)

Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust
(Value Co-Creation in E-Commerce Platforms: The Role of Personality Traits and Trust)

The Ephemeral Term “Sustainable Development” in Current EU Policies
(The Ephemeral Term “Sustainable Development” in Current EU Policies)

The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds
(The Impact of the Size of Funds on the Use of Selectivity and Market Timing by Investment Funds)