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Abstract

In a recent pilot study, we examined the potential benefits and opportunities that ChatGPT can bring to higher education, particularly from the perspective of business students and educators. The study included 41 participants and aimed to explore their opinions on using ChatGPT in business language classes. Twelve students did not use ChatGPT during the course (control group), while 29 students used it actively (experimental group). Examining their experiences and comparing the two groups, it is evident that students see the benefits and disadvantages of ChatGPT and use it for tasks they find helpful. However, the practice and hands-on experience helped the experimental group members gain much more diverse and nuanced opinions about ChatGPT. These results underline that universities and their boards must embrace the technology and find reasonable areas to use ChatGPT. These may not only be connected to assignment forms and plagiarism, but can embrace more general topics, like equal eligibility to these new technologies or strengthening the students' social and emotional intelligence and skills to help their future lives.

Open access

Abstract

The impact of the Russian-Ukrainian war on energy prices contributed significantly to European price increases in 2022. The study aims to find a linkage between the performance of 24 EU countries during the energy inflation crisis and their preparedness, vulnerability or exposure. The verified hypotheses reflect on the role of initial conditions of countries and the one-year impact of energy inflation on their economic performance. The two-step analysis first creates six clusters of countries based on their energy, trade, financial and political vulnerability, and preparedness indicators. The second step is to explore the shifts of clusters in expectations on macroeconomic indicators. Specific patterns of country groups are explored in the value and evolution of wartime indicators of inflation, GDP growth, consumer and business confidence, as well as FX volatility. The exploration concludes that the entry variables of clustering are relevant, and the EU countries can be segmented by dependency, energy, financial, and political aspects. Thus, it is possible to verify the distance in risk and exposure among EU economies. The impact variables demonstrated that the extent of the inflationary effect depended on the initial conditions. In addition, the research identified protective short-term factors against energy inflation originating in a trade and war context.

Open access

The revival of comparative economic systems research

Reflections inspired by the recent publication of the collected works of Domenico Mario Nuti

Acta Oeconomica
Author:
László Csaba

Abstract

This essay offers an overview of the state and perspectives of comparative economics in Europe. The starting point is the publication of the collected works of Mario Nuti, but the overview covers several Handbooks and collections as well as individual contributions. The big picture of the post-transition period highlights the relevance of “old” comparative economics, especially when interpreting illiberal practices in the post-communist Europe and the debate on the nature and limitations of the Chinese market socialism.

Open access

Abstract

This article focuses on mortgage interest deduction (MID) as an indirect tax support for acquiring one's housing. This form of support is the most widely used in the Czech Republic compared to other tax reliefs and causes the highest losses for the government budget. This paper provides quantitative evidence on how the MID was distributed among taxpayers in the Czech Republic in the period 2008–2019 in relation to taxable income and revenue losses for the government budget. Furthermore, it assesses the effectiveness of these tax measures in reducing socioeconomic inequalities among taxpayers. Research based on the application of the MID in tax returns has shown the effective distribution of the MID until 2017. Tax support for housing was used mainly by taxpayers with low taxable income, which is also the largest group. The essence of vertical equity has been fulfilled, which contributed to reducing the level of social inequality. This positive distributional effect has diminished over time. As of 2019, the highest share of public expenditure was redistributed to taxpayers with higher taxable income, indicating the existence of inequalities in the tax system. The different developments over time have shown that the use of the mortgage interest deduction cannot be assessed statically, as it evolves dynamically over time.

Open access

Abstract

The topic of the research is whether better human capital, as determined by secondary school learning outcomes measured by PISA scores, promotes economic growth. The literature often uses the PISA results as a proxy for growth, while its use and impact on growth are not empirically proven. These questions are analyzed through two hypotheses. The first hypothesis (H1) states that in a worldwide sample of countries, GDP per capita growth between 2006 and 2019 was positively impacted by rising PISA results. The second hypothesis (H2) states that between 2006 and 2019, the rise in PISA scores in East Asia had a stronger influence on economic growth than in the rest of the world. The study examines 59 nations that have administered two PISA tests during the period of 2006–2019. The findings imply that there is generally no causal connection between PISA results and growth and the PISA results play no additional role in the development of East Asian nations. The results can be explained in two ways. The first is that human capital includes more than just skills. The second is that the data only covers a short period of time, which may limit the analysis of long-term patterns.

Open access

Abstract

This study investigates the impact of review quality (a situational stimulus) on consumers' risk perception and purchase intention in cross-border e-commerce based on the Stimulus-Organism-Response (SOR) model. In doing so, quantitative research involving 400 Hungarian respondents was performed. The data were analysed using composite-based structural equation modelling (SEM). The study concludes that an experience created through highly qualified online reviews of previous consumers has a significant effect on mitigating consumers' risk perception while increasing their purchase intentions. The study also differentiates two aspects of risk, including perceived risk and affective risk, and reveals the two-fold mechanism of the decision-making journey. These results enrich the existing literature by supporting the use of the SOR model and introducing review quality as a situational stimulus to explain consumers' risk perception and purchase behaviours in cross-border e-commerce. Additionally, the study also provides valuable guidance in website design that can stimulate purchasing while lowering online perceived risk.

Open access

Abstract

This study aims to investigate the relationship between China's outward foreign direct investment (OFDI) in Central and Eastern European countries (CEECs) by assessing their impact on the economies of both the CEECs and China. By analyzing this connection, the paper seeks to gain insights into the economic dynamics and potential benefits derived from investment and trade activities between China and the countries in this region. The paper employs a regression model to examine the influence of foreign direct investment on trade with data from 2008 to 2022. The findings indicate that a one percentage point increase in China's OFDI corresponds to a 0.054 percent boost in bilateral trade between China and the 16 CEECs. In conclusion, the findings highlight a significant link between OFDI in CEECs and bilateral trade. OFDI opens up new trade opportunities and fosters economic growth in CEECs, thereby promoting the development of bilateral trade. Additionally, Chinese investment drives industrial upgrading and structural adjustments in CEECs, enhancing the competitiveness of bilateral trade.

Open access

Abstract

Subjective entrepreneurial success has emerged as an area of academic interest. However, no research study has yet been conducted on startup founders as a specific group of entrepreneurs. Although ‘success’ has been prominently covered in existing startup literature, studies predominantly focus on the possible reasons behind startup success, measuring it solely in economic terms. Drawing upon the qualitative analysis of 22 in-depth interviews with Hungarian startup founders, this paper aims to explore the complex structure of subjective startup success from the founder's perspective along with its gendered patterns. The five dimensions of subjective startup success emerging from the data are similar to those of subjective entrepreneurial success: firm performance, team, personal fulfilment, community impact and personal financial reward. Nevertheless, results reveal that there exists considerable difference between the substance of firm performance dimension in the subjective entrepreneurial success model and in our subjective startup success model. Further, it is found that the interplay among indicators of success could range from synergies to tensions. Finally, personal fulfilment is found to be the only dimension that reflects a marked gender difference in the sample.

Open access

Abstract

In this article we analyze the Hungarian shadow banking system. We point out that the Hungarian shadow banking system is not only much less developed than that of the EU's developed countries, but also structurally different. A further specific feature of the Hungarian financial system is what we call the secondary shadow banking system, through which foreign shadow banking funds do not finance the domestic banking system directly, but through foreign interbank funds and related cross currency basis swaps. The aim of our analysis is to explore the reasons for these specificities, to analyze the risks of the Hungarian shadow banking, and secondary shadow banking systems, and to show that the interconnectedness between banking and shadow banking may not only occur through direct exposure, but also indirectly through the presence of secondary shadow banking.

Open access