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Problems and Solutions in Human Resources Management of Family Business: A Research in Konya City

Author(s): Sefa CETIN,Yadigarjon Gayipov,Tahir Akgemci / Language(s): English Issue: 1/2016

The constant progress of the socio-economic development in our time has triggered competition worldwide which makes industrial and commercial establishments divert to human resources in order to distinguish themselves and survive. Family businesses both in Turkey and other countries, therefore, apply to HRM so as to overcome such problems deriving from their structures. This study tackles the family business that faces the problems in HRM and finds the solution to these problems. Studies show that companies who efficiently benefit from the principles of human resources have made remarkable headway. Additionally the family businesses which benefit from HRM and functions can solve the structural problems and catch the successful and institutionalized line.

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Установяване на социалните предпочитания в експерименталната икономика

Author(s): Teodor Sedlarski,Hristo Marlov / Language(s): Bulgarian Issue: 1/2014

This article analyzes the concept of social preferences and the existing methods for their determination in experimental economics. Summarized are the results in modern economic literature on reciprocal fairness, inequity aversion, pure altruism and spitefulness from ultimatum, dictator and trust games. The presented findings of economic experiments contradict the notion of rationality implied in neoclassical economics and have the potential to bring about change in mainstream economic theory. Economic agents seem to take into consideration not only their selfish interest, but also the interest and expectations of others. Investigated in detail are various factors that influence social preferences revealed in games like the number of repetitions and players, size of the sum at stake, social distance, sex, property rights, cultural differences, asymmetrical information, and fairness intentions.

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Habit Formation and the Self -fulfilling “Bad Steady State Equilibrium ”

Author(s): Marina Semerdjieva / Language(s): English Issue: 1/2014

Social norms and habits in consumption determine what is regarded as fair, influencing in sucha way the economically and socially significant choices people make. We should be able to overcomethe inside tension of unevenly distributed income, be able not to exploit the unfair situation forpersonal benefits if we know the long-term consequences. Only doing this we will stimulate anefficient equilibrium solution for the whole group. Expecting that an irrational reaction will have itssupporters and acting against the common attitude, not taking into account the new opportunity forgains, we in fact contribute towards better market efficiency. Individuals have a need to believe ina fair world just to play safe that not the whole society will act as free rider. The conclusion itself isthat sometimes, even the irrational decision of a small group of people, trying to adjust inequality,can be beneficial for the society. In order to be able to predict more successfully consumer behavioralpatterns we need to enrich the rationality model with a model of social commitment.

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Потребителското удовлетворение в експериментални условия

Author(s): Nickolay Georgiev,George Mengov / Language(s): Bulgarian Issue: 1/2013

We conducted an experiment in economic psychology investigating the role of consumer satisfaction in the choice of future supplier of a fictitious good. By adopting a statistical approach with an econometric slant, we obtained a regression model achieving Radj2 of almost 0.80, a figure which was confirmed with an additional test sample. Further, a multinomial logit model predicted correctly which supplier among four competitors would be chosen in 37.87% of all 272 cases, a substantial increase above the 25% prior probability. Yet, certain methodological issues have emerged that cannot be easily dealt with within the traditional statistical approach.

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M-estymacja w badaniu małych przedsiębiorstw

Author(s): Grażyna Dehnel,Elżbieta Gołata / Language(s): Polish Issue: 01/2016

In many business surveys, sample sizes are large enough to compensate for the presence of outliers, which have a relatively small impact on estimates. However, at low levels of aggregation, the impact of outliers might be significant. Therefore, in the case of a population such as the population of enterprises, the classical approach should be accompanied by methods that resist the occurrence of outliers. To deal with this problem, several alternative technique of estimation, less sensitive to outliers, have been proposed in the statistics literature. In this paper we look at one of them – M-estimation, and compare its usefulness in the small businesses survey.

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Bogaci i biedni na rynku kredytowym w Polsce. Analiza porównawcza dla lat 2000–2013

Author(s): Agnieszka Wałęga,Grzegorz Wałęga / Language(s): Polish Issue: 02/2016

Today intertemporal substitution of consumption is done by using the credit market on a large scale. The main factor determining both consumption and the ability to borrow is household income. The aim of the article is to examine the extent to which low- and high-income consumers use credit. The factors that influence the likelihood of being in debt were identified. The burden of debt repayment on household budgets depends on affluence. Non-identifiable data from the household budget survey from the years 2000–2013 and data from the study „Social Diagnosis” were used in the paper. To verify the research problems, structure analysis and regression modeling were used, taking into account model for binomial variables. The results of the study indicate that wealthy and poor households use loans in different ways, a fact reflected in the variation in the structure of consumption. In the period analysed, there was a noticeable increase in the burden of repayments of loans on the budgets of households with high incomes. The results of the study indicate that income, education and place of residence determine to the greatest extent the use of the credit by households.

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Quality of Institutions for Global Knowledge-based Economy and Convergence Process in the European Union

Author(s): Adam P. Balcerzak,Michał Bernard Pietrzak / Language(s): English Issue: 42/2015

The use of the potential of economic convergence is one of the key challenges of economic policy in the case of the European Union. Due to structural changes that have led to the growing role of knowledge-based economy (KBE), the analysis made in the paper is based on the assumption that the convergence process of the EU countries takes place in the reality of the KBE, thus in order to facilitate it, all the EU members should concentrate on building institutions that are adequate to the conditions of the KBE. In this context, the aim of the study is to verify the potential impact of the quality of institutional system of the EU countries on the convergence process. In this regard, the analytical framework of conditional β-convergence was used with econometric dynamic panel modeling. To measure the quality of institutional system the authors proposed an indicator, designed with TOPSIS method. For this purpose the data were obtained from the Fraser Institute database. Dynamic panel econometric analysis carried out for the European Union countries in the years 2004–2010 confirms that the high quality and adequacy of the institutional system to the conditions of the KBE supports convergence process in the EU.

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Determinants of Corruption in Ukrainian Regions: Spatial Analysis

Author(s): Anastasiya Penska / Language(s): English Issue: 42/2015

This study investigates the determinants of corruption in Ukrainian regions and applies spatial analysis to examine the relationship between corruption perception index and economic, political and cultural factors. The results of the study show that economic growth decreases corruption in the regions. The paper also challenges the existing academic studies, as it shows positive impact of the number of civil organizations in Ukrainian regions on corruption. The implications of the empirical research are, therefore, a valuable asset to the existing literature on corruption. They indicate that dealing with corruption in Ukraine requires consideration of the influence of region-specific corruption determinants.

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Użyteczność dochodu gospodarstw domowych kobiet prowadzących działalność gospodarcz

Author(s): Elżbieta Szczygieł,Teresa Piecuch / Language(s): Polish Issue: 41/2015

This article is concerned with income utility of female entrepreneurs. It presents results of a study conducted among more than 150 women from Podkarpackie Region belonging to two groups: not planning to start their own business, and already engaged in these activities. The aim of this article is to show the relationship between entrepreneurial status and assessment of income utility in women`s households. Collected data were subject to statistical analysis including presentation of income distribution parameters in both groups, and estimating the parameters of the utility function of income based on van Praag’s model using a log-normal distribution. The results confirmed the hypothesis that compared to the group of non-entrepreneurs, women running their own business would require a higher income level to report the same level of utility.

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Poker – gra szczęścia czy umiejętności? Przegląd analiz teoretycznych i empirycznych oraz wnioski dla regulacji

Author(s): Mikołaj Czajkowski / Language(s): Polish Issue: 40/2015

Whether poker is a game of luck or skills remains open to debate, both in Poland and abroad. The answer to this question determines if poker is classified as gambling and potentially penalized. This paper provides the merits to answer this question based on the review of theoretical, simulation-based, experimental and empirical studies devoted to the game of poker, and in particular – Poker Texas Hold’em. The results univocally show that although there is a component of chance in poker, it is the skills that matter in the long run (to the similar extent as in sports). Quantifying chance in poker is also discussed – the minimum amount of time required for skills to statistically outweigh chance. In conclusions, I propose a more pragmatic approach to regulation – based not on classifying poker as a game of luck or a game of skill, but rather taking the cost and benefit analysis into account, which includes externalities and consumers’ welfare change associated with either of the solutions – legalizing or delegalizing poker.

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Rozkład dochodów wahających się wyborców w Polsce w latach 2001–2011 w świetle założeń probabilistycznego modelu głosowania

Author(s): Radosław Piwowarski / Language(s): Polish Issue: 40/2015

Probabilistic voting models developed in political economics are often used as a tool for the analysis of electoral processes. The analyzed model assumes that voters have their own ideology and political preferences. They are divided in terms of income into three groups. Politicians fighting in the election are focused primarily on the swing voters. For this reason, proposed election programs are adapted to the most numerous group of swing voters. This is necessary for electoral victory. It is assumed that the largest group of swing voters is among the richest. The purpose of the article is the empirical verification of assumption concerning the number of swing voters in distinguished income groups. To complete the goal data collected under the project Polish General Election Study (PGSW) from parliamentary elections in Poland for the years 2001–2011 is used. By the use of statistical methods the swing voters distribution into the income groups is verified. The analysis shows that in seven out of eight cases the differences in the number of swing voters in the distinguished income groups are not statistically significant. It is therefore concluded that there is no relationship between the income level and hesitation in making final electoral decision.

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Zjawisko kaskady informacyjnej na rynku nieruchomości

Author(s): Justyna Brzezicka / Language(s): Polish Issue: 39/2014

This article concerns the issue of an information cascade on the real estate market. In the theoretical part of the paper the issue of an information cascade has been defined, the mechanism of its functioning has been explained and the most favourable determinants of the real estate market due to which an information cascade exists have been described. The methodological part comprises the analysis of the real estate market in Olsztyn conducted with the use of a two-step research. The volumes of transactions concluded in the sector of the residential real estate and characterized by great dynamism and changes in time constituted the research category. The most important conclusions drawn from the paper are connected with the confirmation of the existence of an information cascade on the real estate market due to the general characteristics of the real estate market and the mechanism of creating a cascade that are favourable to the formation of this phenomenon.

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The determinants of life satisfaction

Author(s): Dorota Celińska,Kornel Olszewski / Language(s): English Issue: 34/2013

In this article, we present a multidimensional analysis of satisfaction with life. The relationships among satisfaction within four domains of respondents’ lives (satisfaction with family, acquaintances, health and achievements) and a set of socio-economic factors along with variables from the Beck’s Depression Inventory are examined. The results of canonical analysis show strong correlation between satisfaction with health, the symptoms of depression and feeling of trust. Satisfaction with family relationships and life achievement is correlated with feelings of love, age, symptoms of depression and number of social contacts. There is provided an insight into impact of education, income, marital status, gender and social activity on life satisfaction. The results are compared with previous research.

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Are bequests preceded by a will? Evidence from Europe, US, and Australia

Author(s): Anna Nicińska / Language(s): English Issue: 34/2013

How can accidental bequests be distinguished from planned bequests is a crucial question when accounting for bequest behavior. It is not easy to answer this question, because there is no direct indication of willingness to bequeath that must precede the execution of bequests. The aim of this article is to assess how often bequeathing is planned using Polish, European, US, and Australian data. Four areas of analysis are used in this study, three of which use writing down a will as an explicit indication that bequests had been planned in advance. The proportion of individuals planning to bequeath must be at least as large as the proportion of individuals writing down a will. Finally, in the fourth exercise subjective probabilities to bequeath are used. The main finding of the empirical analysis is that at least a non-negligible part of bequests are left intentionally. It implies that further research on why people exactly plan to bequeath is needed.

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Zagospodarowanie zabytkowej kamienicy na potrzeby działalności gastronomicznej

Author(s): Iryna Manczak / Language(s): Polish Issue: 95/2016

The development of historic monuments for the needs of a gastronomy business is an important area of theoretical considerations and exemplifies the trends occurring in the business practice. The article presents the chosen aspects determining the development process of a historic building for the needs of gastronomy. It describes the characteristics based on which the term town house can be defined. The author presents the selected factors to be considered when opening a restaurant. The main part of the article relates to the conditions which must be considered when developing a monument real estate into a gastronomy business.

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Koncepcja modelu wyboru lokalizacji zrównoważonej nieruchomości biurowej

Author(s): Agnieszka Telega,Małgorzata Zięba / Language(s): Polish Issue: 95/2016

The paper presents the concept of the decision-making model facilitating the selection of location for an office building fulfilling the requirements of sustainable construction. The concept of responsible property investing was discussed on the basis of literature studies. Sustainable office buildings are one of the ways of its practical implementation and the location of a building is among the evaluation criteria in sustainable building multicriteria certification systems, so it can improve the rating of a building. The proposed decision model for the selection of location was elaborated on the basis of multicriteria decision analysis applied in the GIS environment. Analytical criteria applied in the model were compiled on the basis of the BREEAM certification system. When the required data and spatial information are applied to this model, it allows to prepare the map of optimal spatial decisions.

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Myślenie szybkie i wolne a optymizm dotyczący osobistych zasobów pieniężnych

Author(s): Piotr Gasparski / Language(s): Polish Issue: 1/2016

The aim of the article is to establish the relationships between cognitive reflection and an unrealistic optimism about the personal cash holdings. The article presents a study on the relationship between cognitive reflection and an unrealistic optimism about the personal cash holdings. It is assumed that people’s styles of information processing differ. Impulsive people use system 1 and fast thinking, and reflective people use system 2 and slow thinking. It was hypothesized that impulsive people demonstrate unrealistic pessimism or optimism about their future financial condition, while reflective people make realistic predictions. A questionnaire was used to survey 167 respondents. Cognitive reflection was measured by modified Frederick’s (2005) cognitive reflection test. The level of optimism was measured by a modified Weinstein’s (1980) questionnaire. The findings partially supported the hypothesis. Reflective people were found to demonstrate financial realism while impulsive people – unrealistic optimism. The findings are consistent with other studies indicating that impulsive people are not effective in their economic behavior. It was infered that unrealistic optimism was a manifestation of wishful thinking about the future economic events, induced by impulsive system 1. Therefore, people should contain optimism and activate reflective system 2.

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SOCIO-ECONOMIC DETERMINANTS OF IMPROVED RICE TECHNOLOGIES’ ADOPTION AMONG SMALL SCALE FARMERS IN KOGI STATE, NIGERIA

Author(s): Jamiu Olushola Saliu,Muhammed Kabir Ibrahim,Folashade Oluwatosin Eniojukan / Language(s): English Issue: 2/2016

This study examined the socio-economic determinants of the adoption of improved rice technologies by small scale farmers in Kogi State, Nigeria. It specifically investigated, influence of socio-economic characteristics on the adoption of improved rice technologies, adoption level of farmers and constraints against adoption of rice technologies. Multistage random sampling was used to pick 120 registered rice farmers with the Kogi State Agricultural Development Project (ADP). Frequencies, percentages, mean, mode, mean scores and ordered probit regression were used to analyze the data. From the result, all the farmers adopted the use of agrochemicals (100%) and the farmers were categorized into low, medium and high adopters, with 60% of the farmers being high adopters. The result also showed that lack of infrastructural facilities was a major constraint experienced by farmers in the study area having a mean score of 3.7. However, the ordered probit revealed that membership of cooperative (1.029277 at 1% significance), source of fund (0.0100499 at 1% significance)) and source of labour (0.2746477, at 10% significance) determined the adoption of rice technologies while marginal effect on farm size, household size, contact with extension agents favoured the adoption of all the eight most important rice technologies which could be used as a measure towards pleasant disposition to commercial rice farming. The study recommends that private rice industries should utilize this positive disposition for rice farmers towards rice technology adoption by establishing rice processing industries in the study area and making the farmers’ rice out growers to feed the industries.

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Potencjał rozwojowy mikroprzedsiębiorstw na terenie gminy Sadowne

Author(s): Marek Niewęgłowski,Ryszard Jabłonka / Language(s): Polish Issue: 17/2013

The opportunities of activity development were shown based on the research carried out in some enterprises of Sadowne commune. The investigation covered micro-enterprises. The aim of the investigation concerned determination of the support which surrounding institution provide and if such support really exists and how cooperation in this matter looks like. Cooperation between the enterprises and local government units and banks were taken under consideration.

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MICROECONOMIC AND MACROECONOMIC DETERMINANTS OF THE DIVIDEND POLICY IN COMPANIES QUOTED AT WARSAW STOCK EXCHANGE — RESEARCH RESULTS

Author(s): Bartłomiej Jabłoński,Jacek Kuczowic / Language(s): English Issue: 4/2015

The article presents results of research devoted to determinants of the dividend policy of companies quoted at Warsaw Stock Exchange in Warsaw. The presentation of the authors’ analyses is preceded by a review of studies described in the literature, carried out in scientific centres in Poland and abroad, in the breakdown into studies referring to two groups of factors: the microeconomic and the macroeconomic ones. The studies presented covered an analysis of correlation between the value of the paid-out dividend and selected parameters which describe the financial and property-related standing of companies, as well as macroeconomic factors. The research based on data from the years 2002–2013. It was summed up in a comparative analysis of microeconomic and macroeconomic determinants of dividend-related decisions of companies.

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