European Journal of Economics and Business Studies
European Journal of Economics and Business Studies (EJES) is an open-access, peer-reviewed journal dedicated to recent research and studies in the field. EJES welcomes and acknowledges recent, high-quality theoretical and empirical original research papers, case studies, review articles, literature reviews, book reviews, conceptual frameworks, analytical and simulation models, and technical notes from researchers, academicians, professional and practitioners from all over the World. As society advances, the techniques of marketing also change with complex economic situations. EJES aims to be a broad range of multidisciplinary platform in marketing and economics and related fields with all aspects of theory and practice, where researchers and scientists share their findings with the audience worldwide.
Innovation Amidst Instability: Turkey’s Defense Industry, High Inflation, and the Challenge to Development Economics - A Literature Review
This study looks into how Turkey kept the growth of innovation and high-tech exports in the defense sector going even when the economy was unstable and inflation was high. The study by Hausmann and Rodrik (2003) in the field of development economics shows that emerging economies often have trouble keeping up with high-tech exports when their economies are in trouble. Industrial progress is often slowed by economic crises. Even though inflation went up from 20.3% to 44.4% from 2018 to 2024, Turkey's defense exports and innovation grew. When compared with countries like Argentina, Zimbabwe, and Peru—where inflation damaged industrial capacity—Turkey’s experience stands out as different. The results show that Turkey’s mix of state support, strong defense-industrial policy, and geopolitical demand helped the sector stay strong despite economic problems. This research adds to the discussion about industrial policy and economic diversification in developing countries and questions the common belief that high-tech exports cannot grow during crises.
Turkey, defense industry, innovation, high-technology exports, inflation, development economics, industrial policy
Copyright (c) 2025 European Journal of Economics and Business Studies https://creativecommons.org/licenses/by-nc-sa/4.0
Factors That Influence the Intention to Use Alternative Finance Fintech: An Application of Structural Equation Model to The Case of Small Service Sector Businesses in Metropolitan Lima
This paper applies structural equation modelling (SEM) to investigate the determinants of the intention to adopt alternative financing mechanisms, with a specific focus on Micro, Small, and Medium-sized Enterprises (MSMEs). The central objective is to identify and measure the latent variables that explain MSMEs’ intention to use Fintech-based financing platforms. Drawing on the Technology Acceptance Model (TAM), the study highlights the relevance of perceived usefulness, defined as the degree to which firms value alternative financial technologies as effective tools for investment and business growth. The empirical findings suggest that the adoption of Fintech financing is primarily driven by MSMEs’ recognition of its potential to enhance liquidity, expand access to credit, and overcome structural barriers to financing. By linking behavioural intention with technological acceptance in the financial domain, this paper contributes to a better understanding of Fintech adoption in developing economies and offers insights for policymakers and financial institutions seeking to foster greater financial inclusion.
Fintech adoption, alternative financing, MSMEs, structural equation modelling, Technology Acceptance Model (TAM), financial inclusion, liquidity constraints, entrepreneurial finance
Sharing Economy: The Establishment of Organizational Identity Overtime, Considering Identify Claims and Legitimacy Granting
The Sharing Economy (SE) has been growing at an impressive rate across the globe (Cohen - Kietzmann, 2014) and emerging as an innovative and rapidly growing sector of the economy (Hira - Reilly, 2017), which attracted the attention of the scientific community. An increasing number of studies have been brought to light helping to document and analyze how SE manifests and evolves across economic systems, thus, contributing to refine and recast existing management theory (Mair - Reischauer, 2017). Nevertheless, there still is a lack of a common understanding of SE and its underlying mechanisms (Knote - Blohm, 2016). As an emergent category, SE has been contoured by being a mutant process, as it has been crafted by multiple and distinct temporal identity and legitimacy events, mechanisms and claims. Showing signs of being an on-going process of evolution, there is a constant need for further research to identify developments in the evolution of SE considering both identify claims (self-referential) and legitimacy (granted by stakeholders), which would offer additional comprehension about the SE phenomenon. The research addresses it by studying what is the role of SE in establishing the identity of organizations belonging to the field, considering both identify claims (self-referential) and legitimacy (granted by stakeholders)? To answer the research question, the research was designed involving two components inspired on category creation studies (Durand - Paolella, 2013; Glynn - Navis, 2013; Navis - Glynn, 2010; Kennedy - Fiss, 2013; Kennedy et al., 2010; Lounsbury - Rao, 2004; and Wry et al., 2014): 1) four prototypical SE organizations were selected, each of them belonging to Schor s (2014) four SE archetypes of activities: (i) Airbnb – peer-to-peer, for-profit activity –, (ii) Zipcar – business-to-peer, for-profit activity –, (iii) TimeBanks – peer-to-peer, non-profit – and (iv) Make: makerspaces – business-to-peer, non-profit. The content of the evolution of their identity claims was analyzed, using data from their public available reports, as well as, other secondary data available on-line; and 2) considering the same set of SE organizations, legitimacy evolution was analyzed considering how scientific community, investors, customers, media, other analysts and other interested audiences have been constructing category meaning to them, conferring the formation of SE categorical and organizational identities, and perceptions about the viability of their business models (Tripsas, 2009, as cited in Navis - Glynn, 2010). In short, it was analyzed how stakeholders assess the viability of SE categories and organizations and can grant or withhold legitimacy to SE organizations (Zuckerman, 1999, as cited in Navis - Glynn, 2010). This research presents a new layer on framing a detailed understanding of the SE field in its maturing dimension, thus, meeting Mair s and Reischauer s (2017) call for studying the SE, unpack and make sense of an inspiring and complex phenomenon and thereby advancing and sophisticate the existing theory.
Sharing Economy; Identity Claims; Legitimacy Granting; Prototypical Organizations; Stakeholders.
Copyright (c) 2017 European Journal of Economics and Business Studies https://creativecommons.org/licenses/by-sa/4.0
Evaluating the Financial Performance Through Consumer Centric Decision Approach in Pharmaceutical Companies of Bangladesh: a Business Planning Perspective
Pharmaceuticals agglomerations consistently use their brand image and versatile product portfolios to consolidate their position in the financial sector, which is evident in their continuous profit making and expansion in market share. This paper explores the short-term and long-term investment attractiveness through ‘consumer centric decision approach in two selected pharmaceutical companies, Renata Limited and Orion Pharma Limited, of Bangladesh over the last three years period. This research adopts a systematic approach which primarily addresses the various concerns of investors to illustrate the decision-making process of the existing and future investors. Using primarily domestic transaction data, this study explores how the leading pharmaceuticals companies of Bangladesh effectively use the wide array of drug portfolios mix with appropriate branding techniques to increase their financial profit and market share simultaneously. Both SWOT analysis and Porters Five Forces Model explore the business analysis of Renata Limited in compare to Orion Pharma Limited that provides a conclusion regarding investors decision to invest in Renata Limited. Considering the financial analysis, Renata s financial liquidity is not very satisfactory and could have been improved further if management is prudent on financial strategy settings. Findings of the business analysis indicate that Renata Limited would be a good investment choice for existing and prospective shareholders based on its opportunities for long term and short term growth and further expansion in developing the market. The results suggest that even lower liquidity coupled with higher interest borrowings can be balanced by posing positive picture to the public shareholders by returning the positive dividend to them.
Financial performance, ‘Consumer Centric Decision’ approach, Business Planning
Public Sector and Budgetary Economy in Transition in Poland in a New Context ofDevelopment Economics
The subject of the paper is to present selected problems of the budgetary economy of enterprises an organizational units of the public sector. The main focus is to explore the relations between the principles of thebudgetary economy of the public sector units against assumptions of new concepts of economic development. This study refers also to the idea of development economics because the systemic transition towards the marketeconomy in Poland required reconstruction of the economy and the creation of new political, organizational and social structures. In the presented study there were applied analytical methods relating to the empirical data andalso analytical methods related to the finances of the public sector. Research methods referred to the theoretical analysis of literature and empirical analysis of the relations between phenomena occurring in the real economyand in the public sector. Preliminary studies indicated that it was not possible to conduct economic policies and maximize tax revenue, particularly by escalating tax burden. Budgetary economy should therefore be conducted according to the principles of rationality and efficiency of resource use. The increase of the budgetary revenues of these group of public sector units must lead to negative consequences, and in particular to increase of the range of the shadow economy.
budgetary economy, local and regional development, public finances, taxation.
Strategic Management for Organizational Performance: from Which Come the Mistakes of Strategic Decision-Making
The current context of organizations is marked by changes or even dramatic changes. The main function of decision-makers becomes increasingly difficult and complex. At the same time, performance has become one of the most important topics within companies. That is why management and economics have addressed this central issue. Faced with a turbulent environment characterized by rough and fierce competition, guaranteeing performance and above all maintaining it becomes a strategic priority, which is why strategic management will be called upon. So our article will deal first with the performance of companies and the role of strategic management in this sought-after performance; and the precautions to be taken into account in strategic decision-making. To do this, we will begin our research by the conceptual framework of performance, to justify the contribution of strategic management in the performance of the company. The paper will conclude with an analysis of strategic decision-making and recommendations. The methodology used in this paper is a literature review.
Strategic management, Performance, Companies, Competitiveness, Information, Environment, Decision.
Variables that affect the purchase intention of Peruvian gastronomy
The purpose of the research is analyze the association of the purchase intention of Peruvian gastronomy with the following set of variables: the country image of Peru, the gastronomy s product image, the familiarity with Peru, and the gastronomy s product familiarity. Such association has not been studied for country familiarity variable, and for Peruvian gastronomy. A qualitative method to compile the primary information and the survey technique was used. Additionally, a questionnaire of closed questions was applied to undergraduate and graduate students in two selected samples that correspond to the consumers of two countries with different levels of familiarity with Peru: United States whose level of familiarity is high and France whose level of familiarity is low. It was concluded that there is a positive relation between the intent to purchase of Peruvian gastronomy with the country image of Peru, the gastronomy s product image, the familiarity with Peru, and the gastronomy s product familiarity. In addition, the country image of Peru is statistically significant associated with purchase intention of Peruvian gastronomy for the case of foreign consumers with high and low familiarity with Peru.
purchase intention, familiarity, gastronomy, Peru.
Organizational Commitment Can Be Predicted? Comparative and Descriptive Analysis
Organizational commitment has been in researchers focus for a long period and it is very important for organizational practice. The aim of this study is to investigate the role of situational and personal factors in organizational commitment. 531 job applicants completed the Blau and a demographic questionnaire from different Romanian and Hungarian organizations. The study sample included employees and leaders as well. Differentiated effect and relations, professional and organizational commitment, job involvement and work value were investigated. Results indicate significant differences in level of organizational and occupational commitment based on participants educational level. Moreover, the status in organization had significant effect on all four commitment dimensions. The cultural effect was not demonstrated. Findings can be useful in practice to keep up proper labor.
occupational and organizational commitment, job involvement, work value, demographic factors, employees, leaders
The impact of training education on business results and employee satisfaction
: This research starts from the existing theoretical assumptions that education is a good investment for the employer and positively affects employee satisfaction. Our intention was to test this hypothesis through appropriate research in Serbia and to identify which factors and to what extent it influences.We started from the fact that HR is a complex process and influenced by various factors. In this context, special attention is paid to the integration of training and education into other HR processes, as one of the most important conditions for influencing business results and employee satisfaction. In doing so, it is especially true that the HRM concept in Serbia has been accepted with great delay and only with the arrival of foreign investors.The main goal of this research is to identify and examine the factors that influence the effects of training-education in the organizational context, and to determine under what conditions education can be an investment rather than an expense. This work is methodologically based on the analysis of the available literature and the results of the research of the authors statistically processed based on the survey on the example of -187 respondents from companies selected by random sample. An appropriate model is presented that in a simple way shows the factors influencing the cost-effectiveness of investment in education- training.Key words: human rresource management, employee, satisfaction, training, investment, business results
words: human rresource management, employee, satisfaction, training, investment, business results
Moldova s Phenomenon: Can Foreign Investments Help Out of the Poverty Circle?
The aim of this paper is to further develop findings on the forces of globalization, which, in a positive and in a negative manner affect economic growth of various nations worldwide, both creating opportunities and posing challenges whilst deepening inequalities between developed and developing economies. The dilemma of global growth is pressing and especially relevant for the economies that currently lack economic quality, which makes them vulnerable to what this paper coins the 'vicious circle' of poverty. The findings in this study interpret changes in economic structure overtime based on the results of the analysis of quantitative and qualitative indicators of growth of national and international relevance. The case study of Moldova is expanded from author s previous contributions to demonstrate a few of the possible alternatives to create and sustain economic growth with quality, even in conditions of globalization obviously hazardous for this small economy. The paper shows how the emphasis on innovations and appropriate policies is supposed to make up for the lack of other key resources available to the developed industrial economies. It takes up an important instrument of foreign investments to demonstrate how and in what way those can be used for economic restructuring towards innovation-driven growth. It inquires how such approach will create competitive advantages helping the developing economies to break out of the ‘poverty circle towards qualitative economic growth. Among other considerations, the paper concludes on the importance of capturing the opportunities presented by the ongoing Fourth Industrial Wave, which, if approached correctly, may help many nations to ‘leapfrog through several stages of the structural ladder, enabling them to pursue qualitative economic growth. This article is interesting for businesses, including entrepreneurs and potential investors, as well as for the governmental organizations and public authorities. It provides both an evaluation of Moldova's position on the international socio-economic arena in context of globalization, and suggests action-points and recommendations potentially supporting the growth of the private sector, at the same time fighting poverty and enforcing sustainable economic growth.
globalization, inequality, economic growth with the development, developing countries, ”vicious circle of poverty”, “structural ladder”, investment, infrastructure, high-technology, technology, innovation
Adapting Legal Culture: Legislation and Interpretation in Tax Law
Legal culture is defined as a way of describing relatively stable patterns of legally oriented social behaviour and attitudes. Adapting legal culture is possible, while the adapted legislation makes a shift in the social reality, especially in transition to democracy. As social behaviour depends on other elements, such as historical and cultural backgrounds of a society, the reaction for the legal adaption may differ from one country to another. So, the legislation in two countries may be the same; but the interpretation and the implementation of the law may be different. As tax norms also have an economic aspect, factors effecting the results of the tax law adaption may be historical, cultural and also economic. Adapting legal culture is more comprehensive than transplanting legal mechanisms and importing other legal systems, it is not only translating legislation but also creating a differential fitness; a different aspect of rights and principles of law design. As tax law includes social norms as well as financial norms and is a multidisciplinary branch of law, the adaption of tax law needs justification of perceived fairness and common understanding of basic law principles and rights. If the perception of law is different, the interpretation of law may create a sui generis version of the adapted law. In this article, the question to be answered is how the historical, cultural and economic factors differ adapted tax systems in practice by the interpretation of law.
Adapting Legal Culture Legislation and Interpretation in Tax Law
Spatial Variability of Soil Aggregate Stability in a Disturbed River Watershed
Analysis of spatial distribution of soil properties like soil aggregate stability presents an important outset for precision agriculture. The study area was classified into different landscape units according to physiographic features namely: mountains, plateaus, uplands, valleys, pen plains, alluvial plains, lacustrine plains and hills and maps were drawn. The objectives of this study were to evaluate the effects of landscape and land use interaction on the spatial variability of aggregate stability. The variability of aggregate stability exhibited spatial dependence (SDP) which helped in the generation of a spatial dependence index (SDI) that was described using semivariogram models. SPD Gaussian( percent) ? 25 percent gave a weak spatial dependence, moderate spatial dependence was given by 25 percent ( SDP ( percent ) ? 75 percent and strong spatial dependence by SDP ( percent) ) 75 percent, while SDI Gaussian ( percent) ? 25 percent gave a strong spatial dependence index while moderate spatial dependence index was indicated by 25 percent ( SDI ( percent) ? 75 percent, and weak spatial dependence index SDI ( percent ) ) 75 percent. Mean Weight Diameters (MWD) of 0.25 – 0.45 represented unstable soils mostly found in wetlands occurring in valleys, mountains, plains, and depressions in hills, 0 55 –0.62 represented moderately stable soils mostly in agricultural and grassland areas which include plateaus, uplands, and plains, while 0.62 – 0.92 represented stable and very stable soils being found in forested areas, mountains and hills. Various interpolation (kriging) techniques capitalized on the spatial correlation between observations to predict attribute values at unsampled locations using information related to one or several attributes that helped in the construction of an aggregate stability prediction map using Empirical Bayesian kriging (EBK) technique.
land scape, Spatial Variability, semivariogram, Geostatitics, aggregate stability, kriging 1.
The Effect of Organizational Structure and Ngo-Ngo Relationships on Sustainability in NGOs
This study analyses the statistical relation among Sustainability, Organizational Structure and NGO-NGO relationships within the concept of Non-Governmental Organization (NGOs). Sustainability is the dependent variable of the study whereas independent variables are Organizational Structure and NGO-NGO relationships. Sustainability is conceptualized as the survival of the NGOs within the study. Within organizational structure the emphasis is on having either mechanistic or organic structure and finally NGO-NGO relationships refer to the level of closeness to the other NGOs as participation events of the other NGOs, organizing the events together and becoming members of NGO unions like federations and Confederations. Results indicate that both independent variables (Organizational Structure and NGO-NGO relationships) have positive affect on the sustainability of the NGOs. Linear regression has been utilized in order to determine the effect of the independent variables of the study and the dependent variable. Statistical Package for the Social Sciences (SPSS) has been used for the analysis.
Sustainability, NGO, Organizational Structure
An Exploratory Analysis on Entrepreneurial Culture and Financial Education Between Students of the Veracruzana University, Veracruz Region
Entrepreneurial culture and financial education have become two of the most relevant issues on the international agenda, since they are considered as elements in favor of the efficient use of financial resources, as well as they are important for the identification of opportunities which favor the development of self-employment projects, contributing to local economic growth. Nevertheless, Mexican financial authorities note that there is an environment with gaps and deficiencies in terms of financial education, which is more evident among the rural population and sectors of lower education and socioeconomic level, causing inefficient use of resources and a poor culture of financial management, which undoubtedly compromises the stability of most Mexican families. In addition, this lack of financial education has a negative impact on the development of entrepreneurial projects, generating greater economic and social problems, taking into account that entrepreneurship is a mechanism that contributes to the creation of jobs and encourages economic growth. Based on these premises, this study aims to identify the level of entrepreneurial culture and financial education among Universidad Veracruzana students, through a descriptive and exploratory analysis; results shown a high level of entrepreneurial culture and a medium level of financial education but a weak positive correlation among them.
entrepreneurial culture; financial education; Latin America university context.
The Relationships in the Process of Knowledge Transfer According to the Triple Helix Model
One of the most important challenges facing modern scientific entities is network cooperation with other organizations and a dialogue facilitating their access to information and knowledge. The essence of this relationship is well illustrated by the Triple Helix Model, which refers to network cooperation in the process of creating knowledge between the academic sector, industry and government. The aim of the study is to analyse and evaluate the relationships in the process of knowledge transfer between the academic sector and other entities working for knowledge-based economy according to the Triple Helix Model. To achieve the purpose of the work, the author used desk research and empirical research. The empirical part of the paper is a case study describing the project called V4mula, as well as conclusions from the realized qualitative research (diagnostic survey method). Project V4mula was mplemented in the network of four partners operating in the Visegrad Group.
knowledge transfer, network cooperation, innovative processes, Triple Helix Model1.
United Notation 2030 Agenda for Sustainable Development Goals: Appraisal and Prospects
United Nations adopted in 2015 seventeen Sustainable Development Goals to be achieved in 2030.The main goals are: ending poverty, ending hunger, achieving equity in heath, education, water treatment and sanitation, full and productive employment for all, sustainable economic growth, sustainable consumption and production pattern, combat climate change and other environmental goals. There are many constraints encountering the achievements of these goal.These constraints are basically financial and political. This paper emphasizes that these goals cannot be achieved without large scale of international financial support in term of grants and easy term loans. In addition, UN has to play its role in preserving international peace and security which are the basic elements in sustainable development. Time frame for achieving sustainable development goals should be extended ,probably, to the mid of this century.
Sustainable Development Goals, Economic, Financial, Political
The Necessity of Regional Economic Integration: a Lesson for South Asia?
ASEAN and the European Union have showed this world the privileges regional economic integration provides the states. Although Greece and Italy might be the torchbearers of criticism against regional cooperation and integration, these two organizations tend to be some prime examples of necessity of regional economic integration. This dissertation thus focuses on the privileges and advantages that regional economic integration system and organizations deliver to the states aligned within. With the possible and crucial criticisms on mind, the discussion moves forward analyzing if this system is making the countries perform better economically and advance towards domestic development. The dissertation further intends to find out why the South Asian nations might need similar kind of cooperation and why these countries should act more sensible to make the economic integration possible. While remarking the recommendations, the discussion also draws the barriers and the problems that this region might face in order to integrate their economies or enhance their trades. The core argument of this dissertation therefore lies in analyzing the importance of regional economic integration and liberal economics in this modern world and if the South Asian countries need economic integration to develop their domestic economies. The recommendations are to provide the possible ways to run the process and the drawbacks portion mentions the difficulties and barriers to be faced whilst all of these countries ongoing strict policies. The argument tries to find out the significance of liberal economics and tribulation of realism in the contemporary world.
ASEAN, EU, Liberal, Cooperation, Failure, Protectionism
Certificate of Ethics in Accounting and Professional Independence of Accountants
Ethical standards in accounting constitute an important element in the functioning of economic entities and in presenting reliable financial information used by all stakeholders when taking important decisions. In order to analyse the issue of using accounting ethics, a survey which indicated the determinants of unethical behaviour and the possibilities for improving the situation in terms of their observing and ways of strengthening their independence was conducted. Following the study, a concept of implementing an account books certificate which estimates their accuracy in the legal and ethical aspects was formulated.
Development and Structure of the Bulgarian Export After the Country s Accession to the EU
Nowadays the European Union includes 28 countries. The last country that has signed an accession treaty was Croatia in 2013. The previous enlargement of the Union was in 2007 when Bulgaria and Romania became members. The accession process for these two countries took some time and was related to quite a lot of changes in the economic practices of both countries. The present article reviews the changes that occur in the Bulgarian foreign economic practice, more particularly in the export activity after Bulgaria's accession to the European Union in 2007. The paper analyses the trends in the development, structure and geographical distribution of the country's export during the 10-year period of the country s EU membership (2007-2016). The main reasons and factors for the main trends are outlined. On the basis of a detailed comparative analysis of the situation before and after the EU accession, the authors try to assess the impact of European integration on the Bulgarian export practices, highlighting both positive and negative results. The paper also elaborates specific recommendations for improvement of the competitiveness of the Bulgarian economy in the context of the country's export changes.
competitiveness, export activities, EU membership, impact of the EU accession on the national economic development
Financing of Social Services Towards the Challenges of the Local and Regional Development
The research focuses on the changes in financing of social services at regional and local level in a market economy in Poland. The important problems are also efficiency issues which can be implemented in public sector entities in the process of supporting social and economic development. In the study there were applied analytical methods relating to the gathered empirical data and research methods related to determining the real impact of the self-government units on the processes of socio-economic development. The key part of the text is analysis of the empirical source data regarding financial potential and directions of expenditures of self-government. Previous research results showed that the development of social services in a market economy in Poland was mainly the result of activities the entities and agencies of the public sector, whose role was to support and stimulate the development. As a challenge for the future it can be indicated strengthening the cooperation with entities of the third sector and sharing the responsibility both for the economic processes and social problems.
social services, public finances, local and regional development
Do Macro-Economic and Technical Indicators Matter?- A Principal Component Analysis Approach for Equity Risk Premium Prediction
Equity risk premium contains the property of reflecting the fundamental judgments of individuals regarding risk that might exists in the economic market and the price associated with that risk. For ERP forecasting, attention is also devoted to technical indicators apart from the macro-economic variables. A set of 14 technical and 14 macro-economic variables is selected for this purpose and based on a standard predictive regression framework; all forecasts are generated by regressing ERP on a constant and a lag of macro-economic or technical indicator. It is found that as compared to macro-economic variables technical indicators provide better indications about ERP estimates. By using National Bureau of Economic Research (NBER) data of business cycle expansion and recessions, relative strength of ERP predictability is also investigated and it is found more than twice for recessions as compare to expansions.
Equity Risk Premium; Macro-economic Indicators; Technical Indicators; Forecasting. Field of Study: Finance
The Impact of Social Capital on FDI in Georgia
FDI brings capital, innovation exchanges and new employments and administration aptitude. In numerous nations, FDI inflow is lower than anticipated. In spite of the inclination for more extensive large scale level examinations of the particular social developments inside which financial exercises happen, a considerable measure of national-level investigations of the determinants of outside contributed firms have given careful consideration to the parts played by social capital and its unexpected incentive in influencing remote direct venture inflows. Drawing on the rationale of social capital and institutional hypothesis, this article looks to offer a correlative clarification of FDI by inspecting experimentally the national-level effects of social capital (trust and affiliated action) on FDI and the directing part of administrative quality in its connections. FDI is the essential part for an open and fruitful global monetary framework and a noteworthy instrument for improvement. In this condition, the paper looks at the advantages of FDI as a key segment for fruitful and feasible financial development and as a piece of a strategy to social change. The point is to feature the most vital channels through which FDI makes a huge and uncommon effect on the monetary advancement of the host nations.
FDI, Social capital, Social trust, Host country, Location factor
The Cross Thai-Cambodian Border s Commerce Between 1863 -1953 from the View of French s Documents
The purpose of this research aims to study and collect data with detailed information of the cross Thai-Cambodian border s commerce in the past from French s documents and to provide information as a guideline for potential development of Thai-Cambodian Border Trade. The method used in this research is the qualitative research. The research instrument used historical methods by collecting information from primary and secondary sources, then to analysis process. The research discovered the pattern of trade between Cambodia and Siam that started to be affected when borders were established. Since Cambodia was under French s rule as one of French s nation, France tried to delimit and demarcate the boundary lines which divided the community that once cohabitated into a community under new nation state. In each area, traditions, rules and laws are different, but people lived along the border continued to bring their goods to exchange for their livings. This habit is still continuing, even the living communities are divided into different countries. For such reason, it was the source of -Border trade” in western concept. The Thai-Cambodian border s trade during that period under the French protectorate of Cambodia was effected because of the rules and law which illustrated the sovereignty of the land. At the same time, customs have been defined including several details that have affected the traditional trade. The border s commerce was more sophisticated. The products had transformed according to the needs of the developed world market and social conditions.
Negotiation Processes as Success Factors in Supply Chain Transactions
The topics raw materials, waste and energy will be the top economic issues of the future, or influence and affect all other subjects (human resources, culture, society,...); all combined with technology, IT and Tech Communication. The shortage of raw materials is one of the central issues in the future perspective and this fact is already influencing the relationship between buyer, producer and supplier. and producers respect to the procurement of raw materials, goods and products are examined specifically in terms of their economic and psychological satisfaction.
Bitcoins within Georgia s Money Laundering Scheme
Bitcoins technology brings a new level of innovation to business and communication across the world. However, the advantages of a virtual currency payment system face the threat from criminal activities occurring over a pseudonymous network where there is virtually no current regulation to cover illegal transactions. The current situation in Georgia is as follows: the second Bitcoin s processing datacenter has opened in Georgia. While the virtual money is new even in developed countries, more unusual it is for Georgia, where local economists are more skeptical toward cryptocurrency. Therefore, they believe that electronic money is not controlled by any central bank that gives a lot of opportunities for illegal transactions. According to the Georgian experts, bitcoin is a very risky currency that can be used for money laundering, as it is completely uncontrolled. However, the Georgian central bank system claims that bitcoins are not dangerous, and the lack of awareness gives rise to talk about money laundering. The biggest challenge seems to be regulation of Bitcoin without hindering the potential for growth. While there is usually certainly a chance that Bitcoin could fail or be pushed out of existence by a more innovative technology, policymakers must be careful not to hinder a technology that could change the way global economy functions.
cryptocurrency, bitcoin, money laundering, block chain, miners
Village-Based Institutional Development Strategy to Prevent the Paddy-Field Conversion at Pandeglang Regency, Banten, Indonesia
Indonesia government needs innovative policies preventing the paddy-field conversion in the current era of regional decentralization. Average of paddy-field conversion in Indonesia has reached 187,200 hectares per year. Irrigated-paddy-field in Indonesia that converted to non-agricultural purpose in 2009 had already reached 3.09 million hectares (42.4 percent). The highest conversion areas were in Java and Bali islands that reached 1.67 million hectares. The study in Pandeglang Regency has shown the prior strategy to prevent paddy-field conversion. It requires the integration the protection toward the peasant based on inter- village participatory partnership to develop the rural area. The developed institution should follow the current applicable regulation, namely the Local Public Service Agency or Badan Layanan Umum Daerah (BLUD) to protect the paddy-fields. It does not only by managing logistic to support the production of the peasants, but also as a synchronizer among multi-parties for the empowerment actions of the peasants to manage the paddy-field farming. The government should use various development approach policies to prevent paddy-field conversion. Top-down development and bottom-up approach is required to be affirmed. Moreover, technocratic approach should be supported by participatory development. Otherwise, the stakeholders should be involved to implement the rural-based institutional development strategy preventing the paddy-field conversion.
paddy-field conversion, inter-village partnership, empowerment, peasantry institution, rural- based strategy.
Remittance Inflows, Real Exchange Rate Movements and Sectoral Performance in Nigeria
The impact of remittance on international trade is often comparable to tariff changes—since exchange rate represents price of tradable goods. The appreciation of real exchange rate brings about increase in relative demand for competing importing tradable goods above domestic tradable goods given demand for non-tradable, since foreign goods are now cheaper in terms of domestic currency and there is high purchasing ability to do so. Resources re-allocation between tradable and non-tradable sector has been significant in Nigeria. Contribution of the agricultural sector to Nigeria’s GDP has shrunk over the years with the attendant threat to food production and loss of employment opportunities. This study investigates the linear relationship between remittances and real effective exchange rate on one hand and the impact of remittances and exchange rate on tradable and non-tradable sector in Nigeria. Employing DOLS regression technique on annual data ranging from 1981 and 2013, The study found that remittances influence performance of tradable agriculture, manufacturing sector and merchandise export sector in line with Dutch disease idea. Also, we found evidence that changes in exchange rate act as a channel of impact of Dutch disease on all sectors.
Dutch disease, Remittances, Exchange rate, JEL Classification: F40, F41, O10
Corporate Governance and the Sustainable Development
Nowadays the issues of sustainable development are everywhere around us. Everybody talks about sustainability in all aspects of our life. It is becoming also part of the agenda of the business world not only for the small and medium size companies, but also for the big corporations. Gradually environmental and social issues begin to pose new topics in the agenda for board meetings of the big corporations. The corporate governance begins to pay more and more attention not only to the return rate of the investments but also to the footprint that the company has on the society. In this framework we decided to examine the relationship and interconnectivity between corporate governance and sustainable development. The research that backed this paper encompasses literature survey and analysis, on one hand and empirical research on another. This paper present some of the results from our survey showing the changes that occur in the corporate governance and the position of the managing boards of directors due to the sustainable development policy applied worldwide.
sustainable development, corporate governance, corporate social responsibility, environment, governance
Opportunities for Increasing Efficiency by Public Utility Organizations
The result and expenditure based performance measurement and evaluation are much the same age in the private sector with the modern enterprise theory. It is enough to make an overview of the Anglo-Saxon and German literature between the two world wars, which pays significant attention on the economic and work organizational tools and methods of enterprise level performance measurement and improvement. The public sphere and within this the issue of operational and economic efficiency measurement of public utility organizations has got a more modest past and methodological framework, although its significance is not smaller. The authors in their research make an attempt to compensate it, when they make suggestions for the performance evaluation process and methods of public utility organizations.
performance management, public utility organizations, public economics, integrity JEL codes: D73, H83, P43
Customer Preference for Consuming Organic Red Meat - Case Study of Albanian Market
Albania has recognized a notable customer behavior change after 1990 CITATION Civ03 --l 1033 (Civici, 2003). These changes are still present in many aspects of customer preference, decision and continue to change dynamically. In this study we answered questions like do customers have some preference for meet originating from their localities? Is for our customers that have a relevant position for taking decisions in the family nucleus (i. e. father or mother), are most likely willing to pay price premium for organic meat? Finally, the price sensitivity also in this study persist as in important factor in deciding to purchase and pay more for organic meat. Other aspects are the need to extend the exploration in EU markets where Alania has concrete plans to become part of it, and how can undertake reforms toward becoming a full member of European Union (EU), and adopt rules and regulation to certify the organic meat. Pre-accession and later on EU accession require strict measures and a set of rules and regulations to be introduced, adopted and implemented in the agriculture sector. Food security and access in information through trusted labels are playing also a relevant role in this study.
Organic food, meat preferences, Traceability Management Information Systems, Food Safety, Customer preference, Albania, willingness to pay.