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Economics and business journals focus on publishing papers coming from the fields of applied economics, corporate finance, financial investments, markets, institutions, industrial organization, international trade, marketing and similar.
Business and Economics
Abstract
This study aims to analyse the time series properties of the unemployment rates in 10 Central and Eastern European countries after joining the European Union. Three types of unit root tests were conducted: (1) linear unit root tests, namely ADF, PP, LM, and RALS-LM tests; (2) LM and RALS-LM unit root tests with two structural breaks; and (3) LM and RALS-LM unit root tests with Fourier function. The results reveal that the hysteresis hypothesis is valid for Bulgaria, Czechia, Hungary, Latvia, Lithuania, Romania and Slovenia, whereas the structuralist hypothesis is valid for Estonia and Poland. However, the natural rate hypothesis holds only for Slovakia.
Abstract
This paper provides a comprehensive assessment of the total (market and non-market) gender-based production and consumption activities of Turkish men and women at different stages of their life-cycle. Turkey, one of the few emerging economies within the OECD, offers an interesting case-study as its female labour force participation rate is one of the lowest among OECD countries. Our results show that time spent by Turkish women on household activities is, on average, 30 h a week, basically three times as much as men. In fact, the women-to-men time use ratio for unpaid work is roughly twice as much as the OECD average. We estimate that the monetary value of women unpaid household production exceeds 29% of GDP, while the corresponding estimate for men is around 8%. Using the concept of life-cycle deficit, we also show that Turkish men are dependent on housework undertaken by women over their entire lifetime, which is an almost unique feature in comparison to the European and OECD countries. Finally, unlike other OECD countries that have introduced disincentives to early retirement, Turkish men continue to retire early but retain their acquired habits of not sharing the burden of household work.
The influence of family business background on the entrepreneurial intention of individuals
A quantitative study of Hungarian university students
Abstract
With an overall aim of providing insights into fostering an entrepreneurial mindset and promoting economic development, researchers have devoted notable attention to intentional and motivational factors for starting businesses, as well as those influencing processes from idea generation to the realisation of a new business. This research project aims to investigate the influence of family business background on entrepreneurial intention. One of the novel features of the approach is the rigorous statistical exploration of direct and moderating effects of family business background while accounting for other factors influencing entrepreneurial intention. The analysis is based on a survey of 590 active university students studying business and economics in the seven largest universities in Hungary. Hierarchical regression analysis was applied to examine how the existence of family business background can influence and moderate relationships between individual factors and entrepreneurial intention. Results confirm that family business background has a significant positive impact on entrepreneurial intention and is most likely to exert its impact through increased human capital levels, entrepreneurial knowledge, skills and experience. The findings not only contribute to accumulated knowledge of the interdisciplinary family entrepreneurship field, but also have policy and educational implications.
Abstract
The paper presents the results of research on the impact of national culture, Big Five personality traits, and emotional intelligence on job satisfaction in teleworkers. The impacts were also examined in conventionally employed, which enabled a comparison. The research was conducted in the countries of the Western Balkans and included 313 respondents. The job satisfaction of teleworkers is most positively influenced by humane orientation, performance orientation, agreeableness, conscientiousness, openness, self-regulation, and social skills. Self-awareness can act both positively and negatively, and neuroticism has a negative impact on job satisfaction. National culture has a greater impact on job satisfaction among conventionally employed rather than within teleworkers. Big Five personality traits work differently: extroversion has a greater impact on job satisfaction among conventionally employed, while agreeableness and conscientiousness have a greater impact on job satisfaction among teleworkers. Emotional intelligence has a greater impact on job satisfaction among conventionally employed rather than teleworkers. Teleworking employees are less influenced by the environment, and thus less influenced by national culture. Emotional intelligence helps conventionally employed work more, while teleworkers place higher value on the results of their work.
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.
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.
Abstract
The sharing economy concept has been firmly incorporated into various scientific fields and applied broadly in practice. This paper aims to gain a detailed insight into the contemporary intellectual structure of the sharing economy in the fields of economics, business and management. Using a two-stage approach: a critical literature review and social network analysis (SNA), the dominant research niches and under-investigated issues within sharing economy were identified, along with the most influential authors and papers. Author collaboration and citation connection of papers have also been examined. It was concluded that sharing economy knowledge is gradually approaching the stage of maturity bearing in mind the growing number of articles, the presence of emerging research niches, as well as scarcity of approaches directed to purely quantitative analysis. Additionally, it was discovered that despite the study focus on the predefined research field, sharing economy concept exhibit a remarkable level of postdisciplinarity.
Abstract
Economies have gone through several crises in the recent past. The most serious ones were the Covid-19 pandemic and the current Russian–Ukrainian war. Our paper aimed to identify and analyse the impacts and consequences of the pandemic and the war on the manufacturing sector of the Czech Republic. A literature review, based on the analysis and synthesis of the scientific sources, served as a platform for determining research questions and hypotheses. The article summarizes the research results of the research team in October – November 2022. The gap between the outbreak of the war and the implementation of the research was 7 months. The chi-square test, Cramer's coefficient, and exact binomial test were used to verify the statistical dependencies of the research questions and hypotheses. Attention is also focused on risk prevention, as research results show that there has been a sharp increase in the supplier and personnel risks.
Abstract
One of the objectives of fiscal policy is to ensure a fair income distribution. In the literature there is no consensus on the income inequality – fiscal policy nexus. Unlike previous studies, this paper contributes to the literature by quantifying the moderating effect of income inequality in total tax revenues and gross national expenditures which are defined as fiscal policy tools. With the help of two moderator variables (income inequality*total tax revenues, and income inequality*gross national expenditures), the impact of income inequality and fiscal policy tools on economic growth are tested for 20 Central and Eastern European (CEE) countries from 1990 to 2019. Diagnostic tests are also carried out on the series before long-term relationships are determined. Our analysis finds that the inequality-growth relationship is negative, the moderator variable defined as income inequality * total tax revenues decreases the strength of the relationship, and the moderator variable defined as income inequality * gross national expenditures increases the strength of the relationship.
Abstract
Since the time of classical economists, investment decisions hold centre stage in economic theory. In this article, we integrate classical economists' perspectives on the determinants of investment with the Keynesian theory of effective demand. For this purpose, we employ variables to capture the effects of profitability, the state of demand, and the financial and risk conditions using time series data from 17 major OECD economies spanning the 1960–2017 period. Two are the salient features of our article: The first is the use as profitability variables, the marginal efficiency of capital or the incremental rate of return, and the second is the use of regime changes and respective threshold values for these two key variables. The econometric results show that the profitability variables are decisive in shaping investment decisions and designating phase changes.
