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.
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.
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.
Copyright (c) 2017 European Journal of Economics and Business Studies https://creativecommons.org/licenses/by-sa/4.0
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.
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.
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.
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.
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.
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.
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.
Cross Border Shopping from the Perspective of Domestic Tourists in Padang Besar, Perlis
Padang Besar is a border town in Malaysia and it is located in the northern part of Perlis, which shares a border with the province of Songkhla, Thailand. This border town is popular for shopping activities among Malaysian and Thai. Most visitors and tourists come during the weekends, sometimes up to thousands at one time. This research paper examines the motivations of cross border shoppers from the perspective of domestic tourists in Padang Besar, Perlis. The objective is to identify the consumer characteristics and analyze the relationship between market characteristics with cross border shopping. This study employs quantitative method and the data were collected using self-administered questionnaires. Statistical software was used to analyze the 375 returned questionnaires. The findings revealed that most of the domestic tourists came from the lower income group and most of them were day tripper. They tend to spend more on food and beverages, while their average spending is more than RM300. Moreover, market characteristics show strong positive relationship towards this shopping activity. The information gathered is beneficial for both neighbouring countries as the government can help to improve the shopping area by facilitating the development with related tourism infrastructure and amenities.
Bimodal, Multimodal or Platform – What is a Supply Chain Future Strategy?
This paper examines the idea of supply chain strategy in terms of ICT influence on supply chain business model. The aim is to present the most important technologies – Social, Mobile, Analytics (based on Big Data) and Cloud Computing – as the main enablers for reaching competitive advantages by supply chain strategy. Analysis are based on literature and market studies reviews supported by author’s empirical research results on supply chain manager’s perception on future supply chain development. During the analysis conducted in the paper the definitions of supply chain strategy and supply chain business model was introduced. Further the next phase of supply chain evolution was identified and the base for this new phase – the internet platform based on cloud computing – introduced. This solution, together with the rest SMAC technologies, creates new approach on how flows within supply chains are managed. Due to new potential created by SMAC and ubiquitous uncertainty managers should revise the ability to create multimodal supply chain strategy. That strategy is supported by customised supply chain business models able to meet events in the unpredictable environmental framework. The base for multimodal supply chain strategy development is market segmentation where the differentiator is described by value perceived by particular customer.
The Macroeconomic Factors Impact on Liquidity Risk: The Albanian Banking System Case
Over the last five years, the Albanian banking system has experienced a deceleration on its activity, considering the recent financial crisis effects. The financial crisis did not propagate direct effects on the Albanian financial system, but indirect effects were visible based on the general slowdown of the foreign markets and public loss of confidence towards the banking system. Also, the foreign remittances decrease and the liquidity shortage of the public played an important role on the capacity to meet the payment obligations (especially on loans). During 2009, the Albanian Central Bank issued a new regulation on liquidity risk evaluation, monitoring and management. The main objective of the regulation was the determination of the minimal evaluation standards of liquidity risk and its effective management by all banks operating on the Albanian territory. The liquidity risk evaluation and monitoring, as suggested also by the literature, does not depend only on internal financial indexes of banks, but it finds its basis also on broader indexes such as macroeconomic indexes. This analysis is effectuated on the impact and importance these factors have on liquidity risk, considering the banking system composed by 13 banks over a period of five years.
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.
This study uses the World bank enterprise survey data for Nigeria to examines Micro, Small and Medium Enterprises (MSMEs) productivity rate in the Nigerian economy. The study explores factors that constrain MSMES output growth in Nigeria. Some of the factors identified include huge infrastructural gap, inadequate institutional support and low access to credit. The resultant effect is a low investment commitment amongst MSMEs thus hampering the productivity of MSMEs in the Nigerian economy. The MSMEs productivity growth rate was measured using annual sales of firms from the World bank enterprise survey data for Nigeria. This research employs the non-parametric variance estimation using the locally-weighted scatterplot smoothing (LOWESS) method on three sets of two-points data (2006 and 2003, 2008 and 2002, and finally 2012 and 2009) of annual fiscal sales for each category of firms comprising micro, small, medium and large firms. The result shows that the small businesses have a negative productivity growth rate in Nigeria. This in line with IFC (2013) which found that small businesses have the least productivity growth rate amongst firms of all sizes. However, this study departs from IFC findings which states that small businesses’ low productivity growth rate is tenable across all the sectors of the economy. The study found that small businesses actually recorded high productivity growth rate in some subsectors of the economy that specializes in product customization such as garment and furniture. Therefore, this study validates the flexible specialization theory that emphases the economic importance of MSMEs in the post-industrial era where product customization is the new order of production. The policy implication of this study is that any targeted intervention in the MSMEs sub-sector of the economy designed to increase productivity, should be channeled into the subsector with the most employee specialization as well as product customization.Keyword(s): MSMEs, small business, Output, Productivity, JEL Classifications: P42 M13 O55
The Analysis of the Labor Market in Albania
Albania's economic growth after 1990 was among the highest of all the economies in transition. Economic activity, as measured at the fair value of the gross domestic product (GDP) for the period 1996-2015 grew at an average annual rate of 5.6 percent, despite the shock of 1997 because of the collapse of the pyramid schemes and the contraction in GDP growth in 20014-2015 due to the impact of the economic and financial crisis. Such high levels of economic growth, has been preceded by economic and structural reforms and the expansion of services and construction, spurred by remittances and informal activities.
Application of Energy Efficiency Techniques While Using ICT Equipment
Information and Communication Technology (ICT) devices and services are becoming more and more widespread in all aspects of human life. Computers and home office equipment represent one of the fastest growing categories of home energy use. While ICT equipment has become more energy efficient in recent years, computers, peripherals, and data centers still use significant amounts of energy, especially if they are left on constantly. The information and technology ecosystem now represents around 10 percent of the world's electricity generation and it represents the largest area of potential energy savings, as well. Most of these devices now have power management features that allow them to enter standby or -sleep- mode during periods of inactivity but only a fraction of users, know about the potential energy savings features. The aim of this paper is to offer practical and actionable tips for saving energy with computers and home office equipment. I review and test the main opportunities, explain them in plain language, and provide practical tips for leading an initiative to increase ICT energy efficiency in order to cut energy consumption per unit in half – or more. This paper presents the survey conducted about ICT equipment energy use in four offices and in five residential buildings in Korça region, Albania. The users were advised to use some basic energy efficiency tips, and energy data were collected before and after the new practices. Experimental results show that the methods used for increasing efficiency were very effective and the electricity consumption was reduced to about 10 percent - 45 percent in offices and about 5 percent - 15 percent in residential buildings.
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.
Creating Alignment in Employee Performance Management
The current study will identify actions for maximizing the effect of goal development and performance management system to enable enhanced employee performance and motivation. In addition, exceptional consideration is dedicated to the methodological challenges of employee performance management inherent and adopted throughout the years. Quantitative approach will be used to assess the external environment through a comprehensive literature and employee surveys review demonstrating employee evaluation methods. However, the unique characteristic of this research, in proportion to other research, is that data is gathered from primary source. The paper presents “Real Time Employee Evaluation and Bonus Systems.” This is a subject that has not been adequately explored within existing literature. It consists of a practical mechanism which demonstrates how a performance evaluation method is used by a leading Telecom Company in Kosovo (X Telecommunications). We will explore the possibilities and limitations of the performance employee evaluation.
Managers in Polish Organizations - the Results of Empirical Research
Today we are dealing with unceasing changes that are not without influence on the functioning of the organization and its subsystems; and managers, who are specific moderators of all activities in the organization, in the face of the volatility of the environment, need to acquire new competences and roles, and realize relevant functions. It seems that the manager's role may be dependent on organizational characteristics such as the type of organization (for-profit, non-profit), the industry in which the organization operates and its size. These features can determine the roles and functions of the persons responsible for the management of organizations. Taking this into account, the aim of this article is to present the role of managers in Polish organizations, depending on their industry and size based on the results of empirical research. The study was conducted in 2015 among 289 organizations in Poland. One of their objectives was to identify a modern role of managers, depending on the selected organizational features based on interviews with people responsible for personnel policy in these organizations. Studies have shown that the role of the manager and basically just its scope is dependent on the size of the organization. On the other hand, no relationship between the role and the industry in which the organization operates has been observed.
Copyright (c) 2016 European Journal of Economics and Business Studies https://creativecommons.org/licenses/by-sa/4.0
The Impact of Remittances on Socio-Economic Development - The Case of Kosova
Another important indicator of a country’s economic development is the inflation and the unemployment rate, and according to the latest report of Kosova Agency of Statistics, the percentage of unemployment in Kosova is around 30.9 percent and this is an indicator that the unemployment rate has been reduced compared to the previous years, on the other hand, the number of families receiving remittances is decreased for 2.6 percent compared to 2011 according to a ASK report.1 Also the number of startups in 2012 has increased to 7,8792 which created new jobs. So, remittances re very important especially for developing countries such as Kosova. Taking into consideration the fact that Kosova is in the development phase, and the standard of living is very low, the number of population seeking to migrate is increasing continuously. According to statistics, the number of male migrants is higher compared with female igrants and rural settlements have shown an increase in migration compared to urban settlements. Our community is convinced that diaspora is an indicator in the economic development of our country, such as skills development for knowledge that they would benefit from, education, for consumption and commercial investments, all these for a higher standard of living.
An initial approach to the concept of responsible consumption among Mexican university students
Since the last century, there has been an international concern to modify production processes and consumption habits that have harmful social, economic and environmental effects. In 2015, the 2030 Agenda for Sustainable Development was formulated, from which the Sustainable Development Goals are derived. This has motivated the development of research on the characteristics of responsible consumption and on how to promote its practice at a mass level. Thus, the general objective of this study was to analyze the way in which young university students define socially responsible consumption, as well as the way in which it could be promoted. To this end, an exploratory, qualitative, cross-sectional study was designed, gathering information through in-depth interviews with university students. Among the results, it stands out that the respondents have a general knowledge of the implications of responsible production and consumption, which they associate mainly with care for the environment; they also perceive that the consumer has the power to influence the practices of companies. On the other hand, they consider that consuming responsibly brings benefits, but at the same time, demands additional efforts and expenses. To promote responsible consumption, they propose massive campaigns on social networks aimed at young people. In conclusion, it can be said that the group interviewed, knows the advantages and benefits of responsible consumption, but there are not strong enough and concrete incentives to change habitual consumption behavior.
Copyright (c) 2023 European Journal of Economics and Business Studies
Challenges of Economic of Georgia: Good and Bad EconomicGrowth
The Georgian economy has been undergoing serious transformations over the years. The reforms carried out by the government affected all spheres of the economy - health care, education, industry, the military-technical complex, etc. The annual growth of the economy is approximately 4.8%. The EU, partner developed countries and donor international organizations allocate huge financial resources for the implementation of the changes planned by the government. Despite this, the economy of Georgia is in a difficult situation. The reason of economic stagnation in which the country has been for years is an extensive vector of development of the national economy. Investment projects carried out in the country in recent years are extensive in most cases. These projects are aimed at increasing current profits. They mostly are not oriented to long-term perspective. Intensification projects based on scientific and technical progress that are capable to change the level of production qualitatively are few. Despite the lack of an innovative scientific and technical background the economic indicators are increasing. However, the analysis of the indicators’ growth factors shows the lack of development of the national economic system. The data does not reflect the real economic statement and point to an extensive (so-called bad growth) growth of the national economy and will lead to economic and political crisis. The intensive and extensive factors of economic growth is discussed and analyzed in the paper. The recommendations and measures are developed by the authors for improving the economy through the intensification of production processes.
Copyright (c) 2022 European Journal of Economics and Business Studies
Challenges of Financial Management of the Higher EducationInstitutions in Georgia
The funding of the higher education institutions and its efficient management affects the functioning of the whole system. The level of development of an education and science has an important role in the economic development of the country. Georgia has enough potential to achieve economic development by intellectual and educated human resources. Despite the reforms implemented in the recent years, there are still many shortcomings and challenges left in the education system that are hindering the creation of welleducated and competitive human resources. Without strengthening the education system, it is impossible to participate in a global competition. The increasing of financing of the education system over the years does not mean raising the quality of education. Developing the correct strategy and tactics of the reform and adequate and efficient distribution of financial resources is crucial. The aim of the paper is to study impact of the existing funding policy on higher education system in Georgia. The structure and dynamics of the funding of the higher education institutions, the nature and importance of the already funded projects are examined in the study. The issue of promotion of development of education through the reforms implemented in the education system is also discussed and analyzed in it. The study is based on the qualitative and quantitative analyses. The recommendations issued within the framework of the study will support stakeholders to overcome the current challenges and improve financial management policy of higher education institutions.
Casino Industry in the Transition Economy of Georgia
One of the most specific segments among the social-economic problems in the transition period of the market economy of Georgia is created by regulation of gambling (gambling business) and evaluation of its effect on a various part of society. Subsequently, the peculiar “triangle” is formed – “business – society – state” in which each of them has its interests, benefits and losses. One of the leading gambling businesses in the country is formed by the casino industry.The work deals with analysis and discussion of the role of casino industry and its importance in gambling business, objective and subjective factors of increase and development of the segment, effects of its positive and negative influence on stakeholders, fiscal determinants, financial-economic and social-economic problems of the sub-sector, proper recommendations have been developed on the basis of the theoretical and empirical analysis and conclusions.
Bank Loans Types and Economic Growth - Literature Review
For the economic and financial stability of a country, the banking sector also has a very important role. The importance of this sector in maintaining stability was further confirmed during the presentation of the global financial and economic crisis of 2007, wherein the following years greater attention was paid to it in terms of the regulation (Basel III) of operation of the banking sector in order to avoid financial crises. With the evolution of human society, with the evolution of money forms and the growth of international trade transactions, the development of the financial system took on an ever-increasing role in the growth and development of the economy. Considering this, the aim of this paper is to review and analyse the theoretical and empirical work related to the impact of bank loans on economic growth. According to the theoretical literature, the development of the financial system accelerates economic growth. In this study, the empirical work related to the impact of short-term and long-term loans on the economy, the impact of loans in a particular sector of the economy, but also the impact of aggregate loans on the economy was reviewed. For the effect of loans on the economy to be greater, credit placement must be oriented towards productive projects. Also of particular importance is policy reform in this sector.
Disruptive Innovation on Competition Law: Regulation Issues of Online Transportation in Indonesia
Disruptive innovation such as online transportation business is a leap of innovations of in services that triggered chaos in field of competition law. The emergence of new cumbent with its disruptive innovation has disturbed the market that dominated by the incumbent. This chaos cannot be overcome by the same legal approach because it has a different business model, in fact, it also happened in Indonesia. This study aims to: (a) reviewing whether disruptive innovation infringes the principles and provisions of competition law and; (b) identifying and evaluating various regulations regarding online transportation in Indonesia. The method of this research is normative legal research, which examines various legal principles, legal theories, and legislation. Findings of this study are; First, disruptive innovation is not an unlawful act because it does not infringe any provisions in the competition law. And also, this innovation is not contravene with the public order; its using new business platforms that are different from old business models. Second, Indonesian government has regulated this disruptive innovation by issuing regulation which has been sued for judicial review and amendment. Finally, Indonesian government has formulated an accommodative regulation format, i.e., online transportation is equalized to the specialized rental transportation.
Copyright (c) 2021 European Journal of Economics and Business Studies https://creativecommons.org/licenses/by-sa/4.0
Community Enterprises: Snapshots from Italy
Community enterprises are not a new type of organisation, but in recent years they have attracted increasing interest for their role in various areas, particularly in depleted contexts. Numerous studies analysed these enterprises in their natural context, but national and international overviews are lacking. We, therefore, do not know how many community enterprises there are, in which sectors they predominantly operate, and so on. Due to the scarcity of data, it is very difficult to provide a picture of community enterprises at the international level, whereas it is more feasible to represent these realities at the national level. Although Italian community enterprises are organisations that are not easily identifiable in the available databases, this paper aims to provide some snapshots to sketch the phenomenon in Italy. The work has a heterogeneous audience because it is of interest to scholars, practitioners, and policymakers. It has implications from a research and practical point of view, as it develops a way to identify Italian community enterprises and provides valuable elements for understanding the efficacy of specific policies and actions, and a piece of knowledge to build a picture of community enterprises.
Taxonomy of an Liot Device Based upon Production Functions
In this essay, we develop a decision model for the economic impact of Industry 4.0 technologies/IIoT devices on established business processes by testing two hypotheses concerning a decision model based on production functions. New methods to aid in the design and modelling of production systems that are able to rapidly reconfigure and that are self-adaptive in response to disruption (both by humans and for automated systems) are required (Sanderson, Chaplin, - Ratchev, 2019).Mass customization, shorter product lifecycles, smaller production batches and higher production variability lead to the requirement for manufacturing systems to be rapidly reconfigurable and self-adaptive in response to disruption, We propose to recover and apply available and established techniques to evaluate and assess the rationale of technologies before they are implemented to improve the decision process. We consider the investment into IIoT devices from a microeconomic perspective as a long-run problem for companies and therefore consider those problems to be reviewed with adequate methodologies to build a consistent decision model. Investing into a factor (such as an IIoT device) is only economically reasonable as long as this factor produces a benefit, otherwise the investment infringes upon economic feasibility (Fandel 2005).