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Abstract
We describe a statistical approach for the measurement of the newly defined luck-based noise factor in sports. It is defined as the difference between the actual outcome and the expected outcome based on the model predictions. We raise the question whether some sports exhibit a higher level of noise-factor than others, making investments in that sport riskier. Data from 14 individual sports in six Summer Olympic Games between 1996 and 2016 were included in the analysis. Market shares are predicted by the autoregressive linear and zero-inflated beta regression models with exogenous variables, where the higher Normalized Mean Squared Error indicates a higher noise-factor. Modern pentathlon, tennis and cycling showed the highest noise-factors, whereas swimming, table tennis and athletics were the least noisy. Possible reasons are discussed in the paper. Our analysis indicates that countries with suitable resources producing leading elite Olympic athletes are predicted to achieve higher success in sports with a lower noise-factor such as swimming. In contrast, investments in noisy sports, such as e.g., modern pentathlon, are associated with a higher risk.
Abstract
Although a number of studies have been conducted over the past decade to understand the factors influencing the willingness of producers to operate in a short supply chain (SSC), the intention to adapt can still be identified as an unexplored area. The main aim of the present study is to determine the extent to which Hungarian fresh sour cherry producers show a willingness to operate in a short supply chain and what investments they would make to do so. The sour cherry producers involved in the study clearly show a willingness to operate in a short supply chain. Some producers approach this in a “complex” manner, so they would even meet individual consumer needs and deliver orders to the consumer. Farmers opting for a “simpler” solution would prefer to sell their products to the consumer at their premises or at farmer’s markets. Further results support the fact that the more producers believe in the viability and future of SSCs and the higher their level of education is, the more willing they are to adapt in terms of resources or production processes in order to achieve complete transition. The results reflect the importance of examining the factors that determine farmers’ intentions to operate in the short supply chain, but it is also worthwhile and justified to explore how willing they are to “sacrifice” and invest in order to completely adapt.
Abstract
Studying in Hungary has become a new trend among Chinese students under the Belt and Road Initiative. The spectacular tripling of the growth of incoming Chinese students has influenced the number of international students in Hungary. In this paper, 26 in-depth narrative interviews with Chinese students in Hungary were conducted and analysed, employing the grounded theory method. This research reveals that beyond considerable uncertainty regarding future plans and career trajectories, three paths are open for Chinese students in Hungary. The largest group intends to return to China after graduation, although they have doubts concerning whether their acquired skills and knowledge can be utilised. The second group aims to find niche jobs, in which they can utilise their in-betweenness. Finally, a small proportion consciously builds their network and aims to remain in Hungary or Europe, engage in further studies or seek employment. The findings contribute to policymakers who support Chinese international educational mobility and to individual Chinese students that wish to widen their horizons and find alternative career paths.
Abstract
Islamic Finance receives more attention due to the growing need for financial services in countries with a Muslim population. However, the rules of Islam and its applications in daily life cause conflicts in today's conventional financial system. Since interest gains are prohibited in Islam according to the Quran, Islamic banks develop and use interest-free methods, unlike the conventional banking system. Islamic Finance introduced profit-sharing ratios to replace interest rates and to increase the participation of religious investors in the financial system. In this research, we compare interest rates with profit-sharing ratios in the Turkish banking market. We use wavelet and historical correlation analysis as a new methodology in evaluating the association between these two factors. Although it is presumed that Islamic banks operate as interest-free banks, our analysis confirms former studies and finds that profit-sharing ratios are highly correlated and coherent with interest rates in Turkey. We also find small differences among Islamic banks on how quickly profit-sharing ratios follow the market interest rate changes.
Abstract
The main purpose of this paper is to study the functional distribution of income in Portugal in the long run, considering the period between 1953 and 2017. The labour share in income or value added depends on two fundamental variables, labour productivity and the average labour compensation. The trends of these variables are quantified for the aggregate economy and for its main productive sectors. An interesting result emerges, namely the different dynamics across sectors, both for the (unadjusted) wage share (considering only the wages of employees) and for the adjusted labour share (considering also as labour compensation one fraction of mixed income). Moreover, a shift-share analysis is used, in order to distinguish the importance of each sector's wage share evolution (“within” effect) and the changes in each sector's weight (structural changes, or “between” effect). Finally, a first attempt to incorporate the effect of wage inequality on the functional distribution of income is made, subtracting the labour compensation of the highest paid workers (top 10%, 5% and 1%) in order to calculate the wage share of the (so-called) "typical" workers.
Abstract
It is now becoming widely accepted that our economy has reached the limits both in terms of the carrying capacity of our planet and in terms of bringing real social justice to the table. Degrowth is a research area that aims to transcend mainstream approaches. While moving beyond the growth paradigm would entail serious changes in all areas of social life and Degrowth research extends into most of them, the transformation of sports is not among them. Neither is Degrowth a recognised concept among those who deal with sports. The participatory backcasting research introduced in this paper attempts to fill this void. In the backcasting project, master students of sports economics envisioned the sustainable future of sports and identified potential intervention steps that lead towards such normative states. This paper describes the results and assesses those elements that aim for strong sustainability. The results show that relocalisation and the sharing economy are the most accepted Degrowth concepts in a normative scenario on sustainable sports in this group. At the same time, the paper offers frameworks of thoughts for those who want to move beyond the slogans of sustainability either as responsible citizens or in positions related to the world of sports.
Abstract
The article discusses how and why Green Recovery could be beneficial for the Visegrad countries based on a modelling exercise using the E3ME macroeconometric model. Green Recovery is defined as including policies in recovery plans that not only target economic recovery, but also contribute to environmental targets. The paper proposes that a Green Recovery could be valuable and suitable for the region contributing to both restoring employment and boosting economic activity as well as reaching climate goals. This is tested through a macroeconomic simulation, using the E3ME model. E3ME is built on Post-Keynesian economic theory and on econometric estimations of macroeconomic relationships. The results of the analysis focus on three dimensions: (1) social – employment, (2) environmental – level of CO2 emissions and (3) economic activity – gross domestic product (GDP). Outcomes indicate that a green recovery can shorten the time needed for employment and economic recovery as well as contributes to CO2 emission reductions. In Hungary, Czechia and Poland, the impact persists into the long-term; however, the paper also concludes that countries with high reliance on coal (e.g. Poland) could return to coal in the long term if no further policies are introduced.
Abstract
In recent years, the city of Veszprém was able to obtain several significant achievements concerning its green branding: it was awarded the “Hungary in Bloom” and the “Climate Star” titles together with the “Gold” prize of the Entente Florale Europe award and the special “President’s Award for the Restoration of a Public Open Space”. This case study examines the impact and results of the preparation work and participation in national and an international green branding contests on destination marketing and city image through the analysis of the literature and structured interviews with the theme specialists of the contests. The implications of the research, based on the result of displaying the future vision of Veszprém, offer best practice advice for communities that are considering using green branding tools such as entering a horticultural contest. The results of the research confirm that a potential winning entry, apart from having an attractive cityscape, needs to meet the more novel assessment criteria of these contests as well, i.e. the development of family friendly and accessible infrastructure, multilingual tourist information and digital accessibility.
Abstract
In a higher education institution, perceptions and values are split due to the emergence of subcultures, and market orientation is split into competitive, customer (student) and interfunctional orientation. This study seeks to shed light on the concept of market orientation in this context through a comparison of perceptions and values of market orientation in subcultures in a higher education institution in Hungary and consider avenues for potential best practice. Through a mixed method approach, subcultures are identified and are found to exhibit a combination of overlapping and disparate market-oriented values and perceptions. Market orientation is found to be a continuum and affected by an array of latent variables, such as level of support (institutional and collegial), attitudes to performance appraisal and extent of external focus. Management must tailor the initial message of a market orientation strategy to the shared values at the organizational level, and then adjust the message and incentives to each subculture. In this way, management can create an atmosphere of cohesion, whilst addressing diversity in subcultures.
