This paper studies the mechanism of how China’s state-owned enterprise (SOEs) reform can influences economic growth, and distinguishes the capital efficiency between state-owned and private enterprises. The results show that: 1) the capital allocation efficiency among state-owned enterprises is lower than private enterprise due to an insufficiently released productivity of state-owned enterprises; 2) although with a higher capital allocation efficiency, the improvement of technology progress of private enterprises at a much slower pace compared to its rapidly increasing share in China’s economy. In case of poor allocation with private sector, blindly reforming ownership of state-owned enterprises cannot effectively alleviate the problem of efficiency losses. State-owned enterprise reform can boost economic growth by increasing capital marginal output, improving capital dynamic allocation efficiency, promoting TFP growth and exerting external spillovers on other firms. At present, China is exploring the endogenous power of economic growth, improving the market institutions and promoting the state-owned enterprises reform with positive and steady pace. By properly re-allocation SOEs into the private sector, which has significant influence on improving economic efficiency and promoting sustained economic growth.

There have been many discussions on the globalisation of SMEs, but it is true that there is not enough academic achievement after such the study of Born global (BG) ventures. The internationalisation of SMEs (Small and Medium Enterprises) is not easy because they lack resources or capabilities compared to multinational corporations. This study investigated the role of government in assisting the internationalisation of SMEs. In particular, SMEs lacked the ability to acquire market-oriented information, so we’ve established the scheme of efficient information support system for the internationalisation of SMEs. In other words, we proposed an information analysis system through the establishment of a relational database constructed for market-oriented information support. KISTI (Korea Institute of Science and Technology Information), which is one of the government-funded research institutes in the Republic of Korea, provided information support to the SMEs dealing with hydrazine related products. This study suggests this case for the market-oriented information support of the government in the internationalisation of SMEs. The research on information support of the government is meaningful in that it suggests a way to support SMEs in practical level.

The aim of this study was to determine the impact of information technology in management of risks in the capital market-listed company is in Tehran Stock Exchange. The purpose of the present study is an applied descriptive approach. The target population for the survey, companies that from 2009 to the first half of 2015 have been a member of the Tehran Stock Exchange, through Cochranʼs sample size of 140 companies, respectively. We used cluster sampling method. In order to collect data from two questionnaires: risk management questionnaire Foakeh (2013) has 38 items and a standard questionnaire Chanvyas (2006) has 40 items, the whole five-item Likert scale questionnaire is above has been used. Data gathered through the questionnaire, sign the application was 21spss. For inferential analysis of the variables and to analyze the data from different statistical tests and regression was used Kolmogorov-Smirnov test. The results showed that information technology on risk management and its dimensions (primary market risk, market risk and the risk of secondary non-financial) impact.

The paper examines the effects of crude oil price shocks on the Indian economy development and GDP Growth for the period of 2010 till 2018. The present Indian economy growth has been facing the identical issues of escalating the trade disparity and continuing inflation. In this connection, the study focused on the determine relationship between the speculation and crude oil price impact on the Indian economic development activity and GDP growth and the paper investigated the how oil price variations effect on the Indian economy development through different networks, viz. WPI, CP, IIP, GDP, Monetary policy, trade and investment. The paper used methods an GARCH model and description to tool the volatility on both the oil and stock markets and then developed an extension of the vector auto-regression (VAR) models are also applied to determine the oil price shocks effect on macroeconomic indicators and the outcomes of co-integration model propose that crude oil is pro‐cyclical to output, and the paper used VAR investigation to the discrepancy decomposition to capture the linear inter‐dependencies among the variables.

We have synthesized quinoxaline analogs (1-25), characterized by 1HNMR and HREI-MS and evaluated for thymidine phosphorylase inhibition. Among the series, nineteen analogs showed better inhibition when compared with the standard inhibitor 7-Deazaxanthine (IC50 = 38.68 ± 4.42 µM). The most potent analog among the series is analog 25 with IC50 value 3.20 ± 0.10 µM. Sixteen analogs 1, 2, 3, 4, 5, 6, 7, 12, 13, 14, 15, 16, 17, 18, 21and 24 showed outstanding inhibition which is many folds better than the standard 7-Deazaxanthine. Two analogs 8 and 9 showed moderate inhibition. A structure- activity relationship has been established mainly based upon the substitution pattern on the phenyl ring. The binding interactions of the active compounds were confirmed through molecular docking studies.

The paper examines the effects of crude oil price shocks on the Indian economy development and GDP Growth for the period of 2010 till 2018. The present Indian economy growth has been facing the identical issues of escalating the trade disparity and continuing inflation. In this connection, the study focused on the determine relationship between the speculation and crude oil price impact on the Indian economic development activity and GDP growth and the paper investigated the how oil price variations effect on the Indian economy development through different networks, viz. WPI, CP, IIP, GDP, Monetary policy, trade and investment. The paper used methods an GARCH model and description to tool the volatility on both the oil and stock markets and then developed an extension of the vector auto-regression (VAR) models are also applied to determine the oil price shocks effect on macroeconomic indicators and the outcomes of co-integration model propose that crude oil is pro‐cyclical to output, and the paper used VAR investigation to the discrepancy decomposition to capture the linear inter‐dependencies among the variables.

In this study, the prevalent methodology for design of the industrial policy in developing countries was critically assessed, and it was shown that the mechanism and content of classical method is fundamentally contradictory to the goals and components of the endogenous growth theories. This study, by proposing a new approach, along settling Schumpeter's economic growth theory as a policy framework, designed the process of entering, analyzing and processing data as the mechanism of the industrial policy in order to provide "theoretical consistency" and "technical and Statistical requirements" for targeting the growth stimulant factor effectively.

In recent years, increasing attention has been paid to individuals organizing themselves and managing food systems in an ‘alternative’ and more sustainable way. Such emerging food initiatives are most commonly known as ‘Alternative Food Networks’ (AFNs). However, there is an ongoing debate concerning the extent to which AFNs facilitate social, economic and environmental change. There are criticisms of the overall sustainability promise of AFNs related to sufficiency of impact, possible countereffects and relevance of impacts. Because often empirical studies only focus on specific sustainability issues or AFNs, it has been difficult to develop more robust theories about the relation between diverse AFNs arrangements and sustainability. Thus, the aim of this paper is to contribute towards reducing this knowledge gap through a systematic literature review on AFNs in relation to sustainability. We summarise main methodological approaches, types of AFNs studied and sustainability dimensions addressed in literature to date. Findings serve as reference to propose opportunities for future research regarding sustainability in AFNs.

Bio-economy is a major area of the strategy that must enable the European Union to achieve growth: smart, through the development of knowledge and innovation; and sustainable, based on a greener, more efficient economy in resource management. We believe that the progress of bio-economy cannot be achieved without the harnessing of intellectual capital. Our research aimed to emphasize the benefits of the dynamics of the intellectual capital growth on the evolution of the bio-economy. The aim of this analysis was to study the established link between the Energy Intensity of the Economy (EIE) and a number of factors that can measure the intellectual capital, such as: Market Capitalization of Bitcoin, Patent applications listed by European Patent Office and the Turnover from Innovation as a proportion of the total Turnover. The ultimate goal was represented by the generation of a regression model to see what factor influences mostly the progress of the bio-economy at European and Romanian level.

The accuracy of sales prediction models based on the big data of online word-of-mouth (eWOM) is still not satisfied. We argue that eWOM contains heat and sentiments of different product dimensions, which can improve the accuracy of these models. In this paper, we propose a dynamic topic analysis (DTA) framework in order to extract heat and sentiments of product dimensions from the big data of eWOM. Finally, we propose an autoregressive-heat-sentiment (ARHS) model, which integrates heat and sentiments of dimensions into the baseline predictive model. The empirical study in movie industry confirms that heat and sentiments of dimensions can improve the accuracy of sales prediction model. ARHS model is better for movie box-office revenue prediction than other models.

The accuracy of sales prediction models based on the big data of online word-of-mouth (eWOM) is still not satisfied. We argue that eWOM contains heat and sentiments of different product dimensions, which can improve the accuracy of these models. In this paper, we propose a dynamic topic analysis (DTA) framework in order to extract heat and sentiments of product dimensions from the big data of eWOM. Finally, we propose an autoregressive-heat-sentiment (ARHS) model, which integrates heat and sentiments of dimensions into the baseline predictive model. The empirical study in movie industry confirms that heat and sentiments of dimensions can improve the accuracy of sales prediction model. ARHS model is better for movie box-office revenue prediction than other models.

From the perspective of individual resource and social capital, this paper aims to explain how employees’ political skill affect their job satisfaction and turnover intention, through the mediating role of popularity. Using a sample of 237 dyad surveys from supervisors and employees in the Yangtze River Delta of China, we found that: 1) political skill is positively correlated with job satisfaction and negatively correlated with turnover intention, and that these correlations are partially mediated by individual popularity; 2) positive affect (PA) moderates the relationship between political skill and job satisfaction, and negative affect (NA) moderates the relationship between political skill and turnover intention. The implications of our findings and future research directions are discussed.

For the time being, public sector innovation gains new and complex forms of expression: managerial, institutional, technological or communication. This fact is also due to national and international important bodies’ interest for using innovation as resource and tool for public sector development. Characterised by complexity and adaptation, the innovative processes in the public sector embrace the form of medium and long term innovation strategies, holding high key socio-economic impact on the social utility of public sector innovation. The optimality of innovation strategies becomes a tool for improved decisions in public sector management, providing the methodology for their evaluation related to the objectives of development in the public sector.

On the eve of the Brexit process, in the context of a rising Euroscepticism that fuels the modest confidence of European citizens in their national and European institutions, the article assesses the efficiency and effectiveness of the European Parliament within the framework of the ordinary legislative procedure (co-decision). After defining and formulating the main indicators, the paper analyses the micro- and macro-performance of the European Parliament within the decision-making process from a quantitative-qualitative and a qualitative-quantitative perspective, highlighting the relativizing factors and the responsiveness of the European decision-making process to the Europeans’ needs.

This article is devoted to the research of existing mechanisms of liquidity management in practice of commercial banks. In addition, it presents description and grouping of theoretical approaches to the liquidity management in commercial banks. I also formulated main requirements to the mechanism of liquidity management process. Moreover, this paper show descriptive statistics on liquidity through triangle of regions, demonstrates the results of testing of analysis.

While the importance of corporate governance has been broadly acknowledged in global financial markets and academic research, how to devise a practical evaluation system is relatively unexplored. This paper attempts to refine the Corporate Governance Evaluation System (CGES), constructed by the Taiwan Stock Exchange (TWSE) since 2014. The current CGES has several debatable issues in its complicated design (e.g., it comprises over 80 indicators in different types). To resolve those issues, this study invited ten senior domain experts (including several CEOs of financial holding companies) to retrieve 13 essential criteria from the CGES in four dimensions. And this study integrates several multiple criteria decision-making (MCDM) methods (i.e., Decision-making trial and evaluation laboratory (DEMATEL), modified VIKOR, DEMATEL-based analytical network process (DANP)) and the fuzzy evaluation technique to rank the exemplary companies. The obtained ranking is consistent with the one released from the CGES in 2017. This study conducted additional experiments to ensure the robustness of the findings. The newly devised model not only supports the ranking decisions but also provides a managerial guidance for companies to pursue systematic improvements. These findings enrich the understanding of corporate governance and contribute to gaining business sustainability for financial holding companies.

Based on a large sample of publicly listed and non-listed US commercial banks from 1996 to 2011, we find robust evidence consistent with banks using realized available for sale (AFS) securities gains and losses to smooth earnings and increase low regulatory capital. We also find that (i) banks with positive earnings smooth earnings, and banks with negative earnings generally take big baths; (ii) regulatory capital constrains big baths; (iii) banks with more negative earnings and more unrealized beginning-of-quarter losses (gains) take big baths (smooth earnings); and (iv) banks with low regulatory capital and more unrealized gains realize more gains. Also, banks with negative earnings tak big baths (avoid or reduce the earnings loss) if their unrealized gains are insufficient (sufficient) to offset the negative earnings. Our inferences apply to listed and non-listed banks, which indicates that the earnings management incentives do not derive solely from public capital markets. Our findings reveal that the accounting for AFS securities gains and losses enables banks to manage regulatory capital and earnings in a variety of ways.

This paper aims to show that sustainable behavior by firms may be impaired by regulatory restrictions. We challenge the assumption that regulation aimed at curbing greenhouse gas emissions (GHG) on the form of a target to meet the Country’s GHG emissions commitments will promote sustainable corporations. We argue that, in fact, such regulation may impair sustainability practices because it creates unintended consequences. This paper tackles the efficiency of the institutional framework chosen through the lenses of the analytical themes of fit, scale and interplay, then we use a systems dynamic approach to represent how regulation in the arenas of energy efficiency and GHG emissions reduction may withhold competitive business outcomes and corporate sustainability schemes. We exemplify and simulate a single regulation scheme and found that as a result of the institutional scheme chosen, the system is dominated by negative feedback processes resulting in lesser outcomes that would be better tackled by firms not being subject to the restrictions imposed by the regulation.

The Cordoba Guitar Festival is one of the most important cultural events in Spain. This article analyses the musical preferences, satisfaction, attitudinal loyalty and behavioural loyalty of spectators who attended the 36th festival held in July 2016, as well as the festival’s economic impact on the city. To achieve this aim, a structural equation model (SEM) was used. The results show the goodness-of-fit of the model and indicate that the observed data fit the expected dataset.

This paper provides estimates of the elasticity of substitution between operational and managerial jobs in the US economy covering a period of almost five decades, derived from an aggregate CES production function. Estimating the long-term relationship between (the log of) the aggregate employment/self-employment ratio and (the log of) the returns from paid-employment relative to self-employment and testing for structural breaks, we report different estimates of the elasticity of substitution in each of the two regimes identified. Our results help to understand and interpret one of the most intriguing aspects in the evolution of self-employment rates in developed countries: the reversal of the trend in self-employment rates. Our estimates show that a higher level of development is associated with a greater number of entrepreneurs and smaller firms. Some rationales for understanding the growth of the elasticity between paid-employment and self-employment, including the recent trends in the digital economy—are also suggested.

This research paper contributes to the literature of deterrence theory in general, and in particular with respect to white-collar crime, offering valuable inside by using a unique data set of fraud and violation of trust incidents for Paraguay. Descriptive evidence show a clear and continuous misallocation of funds and human capital, and therefore providing less efficient services for the public. Regression analysis suggests that clearance rate exerts a highly significant effect in deterring fraud but results are not clear for violation of trust incidents. Despite the limitations of available data, results confirm deterrence theory in Paraguay. However, to more than two-thirds of victims, not even the attempt was made to seek justice. As a side-result, it seems that a soft on crime strategy, induced from the former German penal code, has led to an increasing share of pre-trial diversion and therefore enhancing white-collar crimes like fraud and violation of trust due to impunity.

The driving force behind adopting the idea of ​​sustainable development are producers and retailers. Unfortunately, when preparing their product range for consumers, many of them still only pay attention to the size of the customers’ earnings, how often they shop and how much they buy when shopping. In consumer segmentation, sustainable values ​​that consumers apply when making their purchasing decisions are rarely taken into account. The aim of this article is to show that values ​​such as environmental protection, the ethical behaviour of producers, fair trade or maximising the utility function of consumption are so important in the purchasing process in the coffee market that they can be used as segmentation variables. The Polish coffee market was selected to carry out segmentation taking into account the consumers' sustainable values. The main source of the article is the results of a standardized online survey conducted on a nationwide sample of 800 coffee consumers in July 2018. Multi-dimensional analyses such as extrapolative factor analysis (EFA) and cluster analysis (CA) were used to describe the obtained results. As a result, six segments of coffee consumers were identified and described: “responsible, aspiring to be connoisseurs”, “loyal coffee enthusiasts”, “pragmatic users”, “coffee laypersons”, “sophisticated connoisseurs”, “consumerists, connoisseurs, but not at any price”. Among the identified segments, the sustainable consumption values ​​most often mentioned refer to "responsible, aspiring to be connoisseurs", and the least often - ”consumerists, connoisseurs, but not at any price”. The conclusions presented in the last part of the article may be used by manufacturing and trade enterprises, operating on the coffee market, in order to respond to the identified needs and expectations of consumers and by governmental and social organisations so as to determine the directions of pro-ecological education of consumers.

Modern portfolio theory claims that diversification into non-correlated or negatively correlated activities reduces the overall risk of a portfolio. Considering the total income of a bank as a portfolio of interest income and non-interest income, this paper investigates how the variability of interest income and non- interest income, and covariance between interest income and non-interest income influence the various risk factors of banks. We set out a study in the Indian context. We have extracted data for the period 2005-2017 and employed an extended version of Ridge, Lasso and Elastics Net regression to take care of multi-collinearly in our data. We have considered 10-fold cross-validation techniques to get optimal values of tuning parameters for Ridge, Lasso, and Elastics Net regression (which is a convex combination of ridge and the LASSO). We have compared different regression techniques by comparing RMSE and R2. We observe that non-interest income is positively correlated with interest income in the Indian context, but it does stabilize variance, idiosyncratic risk & market risk (Beta) of Indian Banks.

The fact that individuals are spatially close to each other in the urban environment increases the potential number of encounters between them. Thus, theoretically speaking, the probability of interaction and social intercourse among people increases as they get closer to each other spatially. This reduction in spatial distance and propensity for larger networks can offer advantages in lower communication and transaction costs. However, there is also the possibility of entropy in a single (organizational) urban subsystem, characterized by reduced spatial distances between individuals that can lead to more toxic outcomes and the possibility of generalized deconstruction in an urban system as a whole. The current paper considers, through a theoretical model and secondary data analysis, how reductions in spatial distance between individuals in urban business organizations can lead to withdrawals of energy through toxic forms of entropic citizenship behavior, and lead to the development of toxic organizations. Such toxic organizations can ‘infect’ the urban system and lead to systematic entropic urban deconstruction. Practical, implications for management of the theoretical explanatory heuristic of toxic forms of organizational entropy and toxic organizations are briefly discussed in the paper.

The Rybczynski theorem describes the relationship between commodities and factor supplies, holding output price. By releasing holding commodity price, this paper introduces the trade effects of changes of factor endowments both on factor price and on commodity price. This is a study based on trade equilibrium. Technically, the study shows that change of factor endowments lead to a chain effect that Rybczynski’s trade effect triggers the Stolper-Samuelson’s trade effect. The analysis of this paper shows that economic activities, such as the change of factor endowments of any factor of any country reward another factor domestically and internationally. This is a tuneful circle. Trade brings a well-balanced development to the world.

Soybean yields are often indicated as an interesting case of climate change mitigation due to the beneficial effects of CO₂ fertilization. In this paper we econometrically study this effect using a time series model of yields in a multivariate framework for a main producer and exporter of this commodity, Argentina. We have to deal with the upward behavior of soybean yields trying to identify which variables are the long-run determinants responsible of its observed trend. With this aim we adopt a partial system approach to estimate subsets of long-run relationships due to climate, technological and economic factors. Using an automatic selection algorithm we evaluate encompassing of the different obtained equilibrium correction models. We found that only technological innovations due to new crop practices and the use of modified seeds explain soybean yield in the long run. Regarding short run determinants we found positive effects associated with the use of standard fertilizers and also from changes in atmospheric CO₂ concentration which would suggest a mitigation effect from global warming. However, we also found negative climate effects from periods of droughts associated with La Niña episodes, high temperatures and extreme rainfall events during the growing season of the plant.

This paper based on systems - theoretic approach to the definition of a country's GDP as not directly observable characteristic of system state. Leontief dynamic model is generalized to take into account the stimulating effect of consumption on GDP growth. In consumption, apart from final consumption, terms are considered: balance of foreign trade, fictitious investments and hidden costs. The Kalman filter uses Rosstat's gross output (for system output) and final consumption (for system control) data from 1995 to 2015. It is concluded that if in the years 2014, 2015 it was possible to increase consumption by 5% by, say, price cuts or some increase in money supply, then GDP would be greater by about 2.5%. GDP real values in recent years are most likely greater than official values. Fictitious investments and hidden costs are found in the amount of up to third the value of final consumption. The accuracy of one-year forecasts of true GDP by the methodology of this article is approximately 1.5%.

This paper utilizes dynamic panel threshold technology to conduct a nonlinear test on the direct effect between environmental regulation and economic fluctuations and the effect of industrial structure upgrading by taking 35 industrial sectors in China from 2003 to 2016 . The research has found that there is an inverted "U" relationship between environmental regulation and economic fluctuations, with the enhancement of environmental regulations, the economic fluctuation increases first and then decreases. The cross-terms of environmental regulation and industrial structure rationalization or industrial structure upgrading are significantly negative, which indicates that the enhancement of environmental regulation is conducive to promoting industrial structure upgrading and reducing the economic fluctuations. While the rationalization factors of industrial structure and advanced industrial structure are significantly negative, indicating that both forms of industrial structure upgrading are conducive to reducing the economic fluctuations. Environmental regulation has technical innovation thresholds for industrial structure upgrading and economic fluctuations, but there are no human capital or FDI thresholds. In the rationalization model of industrial structure, there is a nonlinear "U" relationship between environmental regulation and economic fluctuations when the proportion of scientific research expenditure is more than 1.35%. With the enhancement of environmental regulation, the economic fluctuation reduces first and then increases, and the corresponding inflection point value is 2.398% of the environmental regulation level. At the same time, the environmental regulation can indirectly reduce economic fluctuations by pushing down the industrial structure upgrades. In the advanced model of industrial structure, there is a “U” relationship between environmental regulation and economic fluctuation when the proportion of scientific research expenditure is greater than 1.26%. With continuous enhancement of environmental regulation, the economic fluctuation reduces first and then increases. The corresponding inflection point value is 1.78% of the environmental regulation level, and environmental regulation can indirectly reduce economic fluctuations by promoting the industrial structure at the same time.

The purpose of the present study is to explore the linkage between Hazardous Road Locations-based crash counts and a variety of geometric characteristics, roadway characteristics, traffic flow characteristics and spatial features in the region of Sousse, Tunisia. For this purpose, collision data was collected from at 52 hazardous road sections including 1397 crash records for a 11-year monitoring period from January 1, 2004 to December 31, 2014 obtained from National Observatory for Information, Training, Documentation and Studies on Road Safety in Tunisia (NOITDRS). The matrix of Pearson correlation was used in order to avoid inclusion of both variables, which were highly correlated. Both the Random Effects Negative Binomial model and the Negative Binomial model were estimated. To evaluate the models, the Random Effect Negative Binomial model improves the goodness-of-fit compared to the Negative Binomial model. Average Daily Traffic volume, Curved alignment, Presence of public lighting, Visibility, Number of lane, Presence of vertical/horizontal sign, Presence of rural segment, Presence of drainage system, Roadway surface condition, Presence of paved shoulder and presence of major road were found as significant variables influencing accident occurrences. Overall, the current research contributes to the literature from empirical, modeling methodological standpoints since it was the first study conducted in Tunisia to use crash prediction models for hazardous road locations, and that portrays Tunisian reality. The research findings present advantageous insights on hazardous road locations in the region of Sousse, Tunisia and present useful planning tools for public authorities in Tunisia.

This paper uses event study analysis to estimate the impact of the Fed’s Quantitative Easing (QE) announcements on the mortgage market during zero lower bound period. A total of 35 QE announcements are identified and their effects are evaluated. The best-fitting IGARCH model with skewed t distribution is used to measure the QE announcement effects on daily changes of the 30-year mortgage rate, the 30-year Treasury rate and the spread between them. Announcements suggesting the start of a new round of QE reduced the mortgage rate tremendously, while the effects of further news diminished. Announcements of an increase in mortgage-backed security purchases decreased the mortgage rate more than the Treasury rate and reduced the credit risk of holding mortgage securities over Treasury securities. The long run effects of QE announcements on the mortgage rate were less than short run effects but persistent. We also find that the previous literature overestimate QE effects on interest rates in general.

Leadership performance by village leaders is essential to promote sustainable life among rural communities, especially fisheries community who living along coastal villages. Otherwise, previous studies found that performance issues among village’s leaders remain as serious problems, and need to find the best solution. This study was conducted to profile the job performance among village leaders based on demographic factors such as educational level, age and experiences as village leader. The data of this cross-sectional survey were collected by questionnaires on 300 respondents consist of members of village organization through stratified sampling’s technique, while the data was analysed by SPSS using items of mean, standard deviation, independent-sample t-test and anova. The finding shown that there were differences in job performance among village leaders on educational level, age and experiences. Interestingly, the finding told the best on job performance among village leaders are (i) the age between 41 to 50 years old; (iii) the experience between 11 to 20 years; and (iii) the higher educational level the higher job performance among them. This result can be using by government or any responsible parties to improve job performance among village leaders, especially for recruitment selection and for in-service training.

Increasing market participation among smallholder farmers have a big potential to uplift living standards of poor through increasing production and consumption pattern. Although, smallholder farming made 95% of total crop production in Ethiopia, they are exposed to a marketing bottleneck that hinders benefits from their produce. The objective of this study was analyzing factors determining smallholder Teff farmer decision to participate in output market and level of marketed output.The study used data from 190 respondents from four selected Teff dominant kebeles of Gena-Bossa districts in Dawro Zone, through structured questioner. This investigation was imperative because no adequate research has been done in study area in examining the hindering factors of farmers’ market participation. Moreover, in the prior study, different authors come up with varied outcomes in diverse country and geographic location concerning poor farmers’ market participation decision. The descriptive statistics and Heckman two stage econometric methods were employed to analyze data collected from sampled household. The significance of coefficient of inverse Mill’s ratio ( ) indicates the presence of self-selection bias and the effectiveness of applying Heckman two stage model. The results of study show that the smallholder decision to participate in output market were positively influenced by size of land holding, availability of family labor force, education status of household head, accessibility of credit service and access to market price information. On the other hand, size of family member, sex of house hold head being female and distance to market place discourage probability of Teff farmer market participation decision. Moreover, the second stage estimation reveals that, the education status of house hold head, size of farm land, amount of Teff crop produced, accessibility of market information, the size of family labor force and being member to farm cooperative increase the quantity of marketable output, whereas, large number of family size decline the level of Teff crops marketed. The policy that assist poor farmers in obtaining market skills; create affordable credit service; strengthen community based producer groups and capacitating the females socially and economically in the community believed to minimize the problems encountering small farmers in a way to market their crop

Despite the number of studies on bankruptcy prediction using financial ratios, very little is known about how external audit information can contribute to anticipating financial distress. A handful of papers show that a combination of ratios and audit data can provide significant predictive purposes, but a recent paper by Muñoz-Izquierdo et al. (2018) provided an 80% predictive accuracy solely by using the disclosures of audit reports. We complement this study. Applying an artificial intelligence method (the PART algorithm), we examine the predictive ability of more easily extracted information from the report and suggest a practical implication for each user. Simply by (1) finding the audit opinion, (2) identifying if a matter section exist, (3) and the number of comments disclosed, then any user may predict a bankruptcy situation with the same accuracy as if they had scrutinised the whole report. In addition, we also provide an extended literature review about previous studies on the interaction between bankruptcy prediction and the external audit information.

The practice of spatial econometrics revolves around a weighting matrix, which is often supplied by the user on previous knowledge. This is the so called $\mathbf{W}$ issue. Probably, the aprioristic approach is not the best solution although, nowadays, there few alternatives for the user. Our contribution focuses on the problem of selecting a $\mathbf{W}$ matrix from among a finite set of matrices, all of them considerer appropriate for the case. We develop a new and simple method based on the Entropy corresponding to the distribution of probability estimated for the data. Other alternatives, which are common in current applied work, are also reviewed. The paper includes a large Monte Carlo to calibrate the effectiveness of our approach compared to the others. A well-known case study is also included.

Based on the Expected Utility Theory and Regret Theory, the Extended Regret Theory (ERT) is proposed in this paper to study the optimal pricing strategy of retailers in e-commerce environment. Taking the diversity of sales channels and the uncertainty of consumers in e-commerce environment into consideration, author of the paper designs an extended regret utility function which comprehensively considers both pessimistic and optimistic attitudes of decision makers in retailing industry to describe their regret-avoidance behavior. According to the sensitivity analysis, it is found that the optimal retail price decreases as the consumer price sensitivity coefficient increases, yet does not show variation with changes of the consumers pessimism degree. Moreover, the optimal retail price(s) obtained under EUT, ERT and combination of EUT and ERT represent the same.

This paper challenges the assumption that “state-of-the-art” regulation aimed at curbing greenhouse gas emissions (GHG) by firms is the panacea that will force firms to face the impact of climate change and create conditions that promote sustainable corporations. We argue that, in fact, such regulation, when improperly implemented, may impair sustainability practices because it creates unintended consequences. This paper tackles the design and efficiency of the institutional framework chosen through the lenses of the analytical themes of fit, scale and interplay. Then, we model a systems dynamic approach to represent how public policy in the arenas of energy effi-ciency and GHG emissions reduction may interplay with competitive business outcomes and cor-porate sustainability schemes. We found, as a result of the institutional design chosen, that the sys-tem is dominated by negative feedback processes resulting in inefficient outcomes that would be better tackled by firms not being subject to the restrictions imposed by the new laws.

Social customer relationship management (SCRM) is a new philosophy influencing the relationship between customer and organization, where the customer gets opportunity to control relationship through social media. The paper aims on (a) identification of current level of SCRM and also on (b) influence of basic organizational characteristics on SCRM level. The data were gathered through the questionnaire distributed in 362 organization headquartered in the Czech Republic. The questionnaire comprised 54 questions focusing on the significance of marketing and CRM practices, establishing a relationship with the customer, online communities, the use of social media in marketing, and acquiring and managing information. The majority of questions were scalable and used typical five-level Likert scale. Results showed that larger firms more often set up their own online communities and manage them strategically, moreover they are able to manage information better. Contrariwise, small sized organizations use social networks as a way to establish communication with the customer more than large sized entities. Use of social media for marketing purposes is significantly higher in organizations oriented on consumer markets than on business markets.

In the face of the ongoing degradation of the natural environment and increasingly worrying climate change, societies and their governments should pay more and more attention to the issue of the development of sustainable consumption and pro-environmental consumer behaviour. It has been known for a long time that producers and retailers are the driving force behind adopting the idea of ​​sustainable development. Unfortunately, many of them, when preparing the offer of their goods and services, still take into account only such consumer characteristics as their wealth, the purchasing frequency and volume. In consumer segmentation, the sustainable values ​​that consumers follow when making their purchasing decisions are rarely taken into account. The purpose of the presented article is to try to fill the research gap in this area. The Polish coffee market, on which this type of research has not been conducted so far, was chosen as an example of segmentation taking into account the sustainable values ​​of consumers. The article’s main source of information is the results of primary research carried out using the CAWI (Computer-Assisted Web Interview) technique on a nationwide sample of 800 coffee consumers in July 2018. Multi-dimensional analyses such as extrapolative factor analysis (EFA) and cluster analysis (CA) were used to describe the results which were obtained from the research and statistical analysis. This made it possible to identify and describe six segments of coffee consumers, taking into account their demographic, social and economic characteristics as well as being guided by sustainable values in their purchases. The conclusions presented in the last part of the article may be used by manufacturing and trade enterprises, operating on the coffee market, in order to respond to the identified needs and expectations of consumers and by governmental and social organisations so as to determine the directions of pro-ecological education of consumers.

China historically exhibits spatial differentiation from population distribution to ecological or economic development, and the forest pest control work is an epitome of this tendency. In recent times, global warming, man-made monoculture tree plantations, increasing human population density and intensified international trade aggravate forest pest outbreaks. Although Chinese government has complied with the internationally recommended practices, few stones remain unturned due to existing differential regional imbalance of forest pest distribution and control abilities. Evidence shows that the high-income provinces in the south have taken advantage of economic and technological superiority, resulting in the adoption of more efficient pest-control measures. To the contrary, in economically underdeveloped provinces of the northwest, a paucity of financial support has led to serious threats of pest damage that almost mirrored the demarcations of the Hu Huanyong Line. In this paper, we propose introducing public-private partnership (PPP) model into forest pest control and combining the national strategies to enact regional prevention measures in order to break the current spatially differentiated trends in China.

At present, business strategies in SMEs (Small and medium enterprises) are crucial for consolidation in highly competitive markets, in achieving a better image and in business profitability. One of the strategies that have the most success and business success are sustainable practices and social responsibility such as: ISO 14001 and ISO 26001. The literature related to sustainable business is based mainly on the theory of resources and capabilities, and in theory based on Stakeholders. These currents state that companies should focus on profitable strategies to ensure significant and long-term results, in order to achieve organizational and financial results for stakeholders. In this work, the sample consists of 215 companies from the commerce, services and industry sectors, located in the southern region of the State of Sonora in Mexico. The objective of the work is to analyze the influence of ISO 14001 and 26001 standards on the image and profitability of SMEs. The statistical analysis of the data has been carried out through the linear regression technique by OLS (Ordinary Least Squares). The findings prove that the ISO 14001 standard is the one that most influences the improvement of the business image and the level of profitability of the SME. In addition, we discovered that ISO 26001 has a partial influence on the image and profitability of the SME.

The agriculture and rural areas perform a new function which requires the delivery of public goods to the society. In turn, a comprehensive identification and analysis of agricultural externalities (external economies) involves a need for developing a dedicated valuation methodology. This paper presents the assumptions of the public goods theory and puts them in the context of agriculture. The study focuses on analyzing the valuation methods for external economies, and proposes a methodology for the valuation of some illustrative positive externalities of agricultural production and of natural environment resources regarded as public goods (the agri-tourist value of a farm and the value of a natural waterhole).

Determining the level of PE/VC market development and the way it operates is extremely difficult. Despite countless reports and analyses concerning the PE/VC market, there is a lack of study on that sector based on a synthetic index. The usage of taxonomic methods in the PE/VC market analysis may be extremely useful in its proper characterizing. An in-depth study allows the identification of weaknesses and strengths as well as opportunities and threats related to a specific stage of PE/VC market development in a given country, that gives the opportunity to determine public activities that could affect the acceleration of this market development in future. The main objective of the study was to conduct a taxonomic analysis of the level of PE/VC market development in Europe, in 2010–2015. It is worth mentioning that the term “level of development” does not refer only to the value of investment or its dynamics, but to a set of objectified features that create one synthetic indicator. The conducted analysis using the Hellwig method allowed to determine the ranking of European countries in terms of the level of PE/VC market development, which reveal some significant differences in the functioning of the this market within Europe. Further detailed analysis of the designated groups of countries made it possible to determine the characteristics of such clusters. The construction of the level of private equity/venture capital market development ranking over the years enabled defining the current status and indicating the direction of possible changes.

Academic interest in social and human capital is growing significantly. Similarly, their relationship with sustainability is increasing, especially compared to sustainability’s relationship with natural capital and financial and economic capital. Bibliometric and visualization research on these relationships is nonetheless insufficient. This study analyzes the evolution of the literature on natural capital, financial and economic capital, and social and human capital related to sustainability. On the other hand, the study presents a bibliometric analysis on social capital and human capital (SHC) related to sustainability. The article studies 635 references collected from the Web of Science (WoS) Core Collection database and utilizes visualization of similarities (VOS) viewer program to graphically map the material. The analysis involves co-occurrence of keywords, co-citation, and co-authorship. The results reveal not only the state of the art and the leading trends, but also the evolution regarding impact, main journals, documents, topics, authors, institutions, and countries. The study provides researchers and practitioners with a visual and schematic frame of the research on this topic.

The purpose of this paper is to explore the extent to which traditional economic policies can be oriented by sound practices. It is becoming widely accepted that sustainable economic growth (and not only economic growth) is the final target of economic policies; but most economic policies are applied just looking to the short-run without taking in account the long-run perspective. Our aim will be to show how a sustainable economic policy-making would be possible, making compatible the stabilization of the economy in the short-run with a sustainable economic growth in the long-run. We confront the design of economic policies with the 17 goals of the 2030 Agenda. We argue that all sustainable development goals can be attained by the design and implementation of sustainable economic policies. Finally, to illustrate this point we will conduct a simulation exercise to show under which combinations of demand policies technological shocks would promote a path of sustainable growth. Our results will provide a reference framework for a sustainable economic policy-making.

The degree of collaboration among supply chain partners and the structure of the network are important determinants of the level of satisfaction customers derive from the products or services. However, the effects of these dimensions on customer satisfaction at the downstream section of the supply chain remain under-researched in Nigeria. This study precisely examined the effects of collaboration and supply chain design on customers’ satisfaction at the downstream end of the chain using Ekiti State as study area. The study employed descriptive survey design with the use of structured Likert scale questionnaire administered to 381 retailers of noodles in Ekiti State. The research hypotheses were analysed using simple linear regression as statistical technique with the aid of SPSS version 22.0. At the end of the study, it was observed that both collaboration and supply chain design were significant predictors of customers’ satisfaction of instant noodles in Ekiti State. However, collaboration among supply chain partners emerged as stronger determinant of customers’ satisfaction than supply chain design. The study concludes that these two practices of supply chain management are highly important criteria any manufacturing firm especially in the noodles industry must pay close attention to in order to satisfy her consumers.

Based on the seminal paper of Case, Quigley and Shiller (2013), we investigate the effects of financial and housing wealth on consumption. Using quarterly data from 1975 to 2016, for all States of U.S. economy, and a different methodology in measuring wealth, we report relatively greater financial effects than housing effects on consumption. Specifically, in our basic utilized model, the calculated elasticity for financial wealth is 0.060, while for housing is 0.045. The results are not in agreement with the ones obtained by Case, Quigley and Shiller. In an attempt to investigate the disparity we proceed by incorporating the introduction of the Tax Reform Act in 1986, which increased incentives for owner-occupied housing investments. Finally, due to distributional factors at work, and taking into account the pronounced uneven distribution of wealth we investigate the effects of wealth for 8 states that include the Metropolitan areas comprising of the well known Case-Shiller 10-City Composite Index. Now the housing effect on consumption is much stronger and larger than the financial effect. Additionally, we forecast the consumption changes at the time of the high rise and large drops in house prices for these states. Forecasts showed a recession from the fall of Lehman Brothers until the fourth quarter of 2011. These forecasts were not verified. Probably, the new techniques used by politics played an important role. We also find that extreme behaviors cannot be predicted.

This study investigated the roles of transactions cost in MSMEs access to finance. This was done by investigating the impact of transactions cost on access to credit from both MSMEs and financial institutions (commercial banks and microfinance banks). From the MSMEs’ side, borrowing experience, decision lag, firm size and borrowers’ distance to the loan office were investigated. On the financial institution’s side, the costs of information gathering, loan administration, monitoring and loan enforcement were investigated. We used the questionnaire survey method, in-depth interviews and case studies, as well as the annual financial statements of the banks. We identified interest rate and collateral value as constraints to access to finance for MSMEs. We also found financial institutions’ attitude to MSMEs access to credit was not friendly. Financial institutions need to do more to bring down transaction cost of lending. This hopefully can be achieved by investing more in agent banking which would lower operating costs, as well as spreading risk, and ultimately increase credit intermediation to small businesses.

This study explores the determinants of ICO success, where success is defined as the amount of capital a project was able to raise. ICOs are a tool for startups in the blockchain ecosystem to raise early capital with relative ease. The market for ICOs has grown at a rapid pace since its start in 2013. We analyze a unique dataset of 278 projects that finished their ICOs by August 2017 to assess determinants of funding success that we derive from the crowdfunding and venture capital literature. Our results show that ICOs exhibit similarities to classical crowdfunding and venture capital markets. Specifically, we identify resemblances in determinants of funding success regarding human capital characteristics, business model quality, project elaboration and social media activity.

: Following the phenomenal growth of and competition among coffee chain retailers, the coffee chain market has expanded substantially thanks to rising income levels, the increasing young population, and rapidly changing lifestyles. Attracting consumers’ attention and enhancing their loyalty behaviors have become very difficult for coffee chain retailers. This study seeks to understand the mechanisms through which emotions and the dedication-constraint model lead to brand loyalty and willingness to pay more to certain coffee chain retailers. Emotions and the dedication-constraint model are major factors in the research, but few studies have combined them to examine the formation of loyalty behaviors. This study synthesizes emotional responses and the dedication-constraint model to develop a theoretical model. Based on the ambivalent view of emotions, it also examines how positive and negative emotions affect the combination of brand loyalty and willingness to pay more to certain coffee chain retailers. Moreover, it identifies the antecedents of affective and calculative commitments in the context of coffee chain retailers. Our findings indicate that loyalty behaviors (dedication- and constraint-based mechanisms from brand loyalty and willingness to pay more to certain coffee chain retailers), emotional responses, and affective and calculative commitments significantly affect brand loyalty directly and indirectly through both positive and negative emotions. Furthermore, service quality, physical environment quality, and price fairness significantly affect affective commitments, while price fairness significantly affects both affective and calculative commitments. Finally, affective and calculative commitments significantly affect willingness to pay more, both directly and indirectly, through positive emotions and affect it directly through negative emotions. The results’ theoretical and managerial implications and possible future research directions are discussed.

Background: Mitigating climate change requires fundamentally redesigned energy systems where renewable energy sources replace fossil fuels such as natural gas by 2050. Just how exactly this renewable energy will be transported to end users and how supply and demand will be balanced are still subject to lively debate. In this context the gas sector underlines its capability to contribute and claims its role in the EU energy system beyond the age of the fossil fuel natural gas. But on which specific arguments is this claim based and which enabling factors need to be considered? Methods: We take a two-step approach: We begin with a theoretically guided review of studies from energy industry and academic sources to discuss pros and cons from a holistic energy system design point of view. We then enrich our review with the results of an empirical focus group process, which leads us to possible enabling factors for unlocking the contributions of the gas sector to a climate-neutral energy system exemplified for Austria. Results: Beyond the widely acknowledged potential of the gas infrastructure for balancing growing renewable electricity generation and demand, we find that renewable gas could be a means to transport renewable energy to end users, and that it could be done using existing infrastructure. This could reduce the costs for society, increase public acceptance and ultimately speed up the transition to a climate-neutral energy system. However, this hinges on a supportive regulatory framework for energy markets and usage and on optimized resource utilization across the society as enabling factors. Conclusion: Developing a climate-neutral EU energy system will mean investing large amounts of money and completely overhauling our current system. The entire energy supply chain across various energy vectors must be optimized. This will require a technology-neutral and holistic approach. The regulatory framework must provide investment conditions that respect these principles. If it does, renewable gases could make a valuable contribution to achieving climate goals in an efficient, timely and publicly acceptable manner.

Efficient use of agricultural wastes and by-products, basically transforming waste materials into value added products, is considered as pivotal for an effective bioeconomy strategy for the rural development. To this scope, citrus waste management represents a major issue for citrus processors but, at the same time, it embodies a potentially unexploited resource for the rural sustainable development. This study focuses on analyzing the current management of citrus waste in South Italy and identifying the determinants and barriers that may affect an entrepreneur’s choice on the destination of citrus waste. Citrus processors’ preferences about the contract characteristics needed to take part in a co-investment scheme have been investigated. Both analyses are preliminary steps to design an innovative and sustainable citrus by-product supply chain. Results show that the distance between the citrus processors and the citrus by-products plant is one of the main criteria for choosing alternative valorization pathways. Moreover, the required guaranteed capital, the short duration of the contract, and low risk are contract scheme characteristics that improve entrepreneurs’ willingness to co-invest in the development of a citrus waste multifunctional plant.

There is tremendous interest, in the economic literature, for the determinants of firms’ capital structure decisions. A rich body of empirical works now exists that purports to identify firm- and country-level factors affecting firms’ financing patterns. In addition, more recently, a new stream of studies has emerged that investigates cross-regional variation in small firms’ capital structure. While small firms’ leverage does seem to vary across regions, at least in countries where significant regional differences in economic and financial development and in the quality of institutions exist, not much yet is known about variation in debt maturity, in debt in relation to equity, and between different types of small firms. The present paper aims to fill this gap through an empirical analysis of cross-regional variation in the capital structure of a sample of about 30,000 Italian small firms over a 13-year period, including the aftermath of the credit crunch that followed the 2007-8 global financial crisis. The findings confirm the view that small firms in underdeveloped regions are more financially constrained, but also amend some of the results shown in the literature, in particular by showing how small firms in Italy’s Southern regions have higher levels of equity and fixed assets than small firms in other regions.

This paper examines the asymmetrical relationship between exchange rate and consumer prices in 40 Sub-Saharan African (SSA) countries from 1990q1 to 2017q4. The exchange rate pass-through (ERPT) to consumer prices is estimated for each country by using the nonlinear autoregressive distributed lags (NARDL) framework and dynamic panel estimators robust to cross-sectionally correlated errors. Firstly, our findings suggest an asymmetrical ERPT in the SSA region during the short-term, whereas there are mixed results across sub-regions in the long-term. Next, we find incomplete and significant ERPT to consumer prices in the entire SSA region which is higher during the depreciation of the local currency than after appreciations. Third, we find nonlinear ERPT with respect to the size of the exchange rate. The pass-through is higher during large exchange rate changes than after small changes. Finally, we find that the pass-through is greater in the countries with fixed exchange rate regime (CFA franc zone) having low inflationary environment than in the other SSA countries with flexible exchange rate regime and high inflation levels. As a result, policymakers should take into account these asymmetries and non-linearities to improve the credibility of monetary policy, strengthen trade liberalization and establish competitive market structures in the Sub-Saharan region.

The issue of women’s participation in top management and boardroom positions has received increasing attention in the academic literature and the press. However, the pace of advancement for women managers and directors continues to be slow and uneven. The novel framework of this study organizes the factors at the individual, organizational and public policy level that affect both career persistence and the advancement of women in top management positions; namely, factors affecting 1) career persistence (staying at the organization) and 2) career advancement or mobility (getting promoted within the organization). In the study location, Chile, only 32 percent of women “persist”, or have a career without interruptions, mainly due to issues with work–family integration and organizational environments with opaque and challenging working conditions. Women who “advanced” in their professional careers represent 30 percent of high management positions in the public sector and 18 percent in the private sector. Only 3 percent of general managers in Chile are women. Women in Chile have limited access and are still not integrated into business power networks. Our findings will enlighten business leaders and public policy-makers interested in designing organizations that retain and promote talented women in top positions.

Purpose - The purpose of the study is to investigate the missing link between leadership style and job satisfaction among Mongolian public sector employees. This study reiterates the mediating role of organizational climate (OC) and work style (WS) in a new proposed model. Methodology - The questionnaire is designed by a synthesis of existing constructs in the current relevant literature. The research sample consisted of 143 officers who work in the primary and middle units of territory and administration of Mongolia. Factor analysis, reliability test, collinearity test, and correlation analyses confirm validity and reliability of the model. Multiple regression analysis, using Structural Equation Modeling (SEM), tests the hypotheses of the study. Practical implications - This study has several important implications for studies related to organizational behavior and job satisfaction. Furthermore, the implications of findings are beneficial to organizations aiming at improving policies and practices related to organizational behavior and human resource management. Regulators and supervisors of private or public organizations aiming to increase the level of their employees’ job satisfaction will also benefit from the findings. Therefore, this study’s new proposed model can be the basis of fundamental research to build a better human resource policy. Although leadership style is an influential factor for job satisfaction, this study identifies the mediating missing links between leadership style and employees’ job satisfaction. Findings: The findings of this research indicate that organizational climate and work style complement and fully mediate the relationship between leadership style and job satisfaction. Appropriate leadership style is most effective when it matches organizational climate as well as employees’ work style. Furthermore, suitable organizational climate will increases the level of job satisfaction. If work style of employees is respected and taken into consideration, leadership style can find its way into job satisfaction. Originality/value - This study is the first to understand the motivators of job satisfaction in government sector of Mongolia. This study suggests valuable findings for executive officers, junior and primary unit’s officers of register sector of government in Mongolia. The findings of this study help managers and executives in their effort to develop and implement successful human resource strategies.

In the repercussions of the latest financial crisis that have occurred on the years 2008-2009, to fortify the stability of the banking systems, policy makers, and the Basel Committee on Banking Supervision – BCBS, together with national regulators have built up a few safety measures, and structures to guarantee that banks establishments keep up adequate capital levels through using risk management tools, in specific the Internal Capital Adequacy Assessment Processes (ICAAP). They all have called for thorough evaluations and assessments for the structure and components of risk management frameworks, tools, and practices whether by banks, regulators, analysts and risk management experts consistently, to ascertain the adequacy of the banking systems, policies, arrangements and techniques for overseeing risks, and guaranteeing the sufficiency of holding appropriate capital levels for confronting normal, as well as adverse and unexpected situations or emergencies. The main objectives of this research study is to shed the light on the ICAAP as one of the main keys of risk management programs, a process by which banks can use to ensure that they operate with an appropriate levels of capital, forward looking processes for capital planning covering a broad range of risks across banks, activities beyond simple capital management, and brings together risk and capital management activities in a form that can be used to support business decisions. The research study shall evaluate the significant relationship between the Banking System Stability (dependent variable) and the Internal Capital Adequacy Assessment Process (ICAAP – independent variable) with evidence from the Egyptian Banking Sector.

A sustainable business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts in a sustainable way. The process of sustainable business model construction forms an innovative part of business strategy. Different industries and business types have utilized sustainability business models to satisfy their economic, environmental and social goals simultaneously. This study is conducted to present the state of the art of sustainable business models in various application areas. The business models are classified and reviewed in different application groups. To do so, a review is conducted, and the findings reveal that the application of sustainability business models can be classified in 16 unique categories. The key contribution of this study is providing an insight about the state of the art of sustainable business models in various application areas and its research path.

Habitual entrepreneurs became an important group of entrepreneurs who make a large contribution to the process of wealth creation. Previous studies have indicated that habitual entrepreneurship is a widespread phenomenon. It highlights the need to focus on the habitual entrepreneurs to understand the dynamic aspect of entrepreneurship. The aim of the article is to present the results of preliminary research on the relationships of entrepreneurial behavior of novice entrepreneurs and habitual entrepreneurs, in particular their motivation and impact on the entrepreneurial process. Research were conducted on a sample of 373 small innovative enterprises in the fourth quarter of 2017. The scale of habitual entrepreneurs in the examined sample is 32.44% and is comparable with research carried out in other countries. Survey results reveal that habitual entrepreneurs have greater tendency to create opportunities (introduction new products or services) than novice entrepreneurs. Habitual entrepreneurs also have higher development rate (increase of turnover) and larger share in the international market than novice entrepreneurs. The article also contains indications for further research into the phenomenon of multiple entrepreneurship.

We examine how external triggers, including the digital imperative and the need for more sustainable resource and stakeholder employment, spark the development of transformative sustainable business models. Drawing on the resource-based view and the shared value approach we conceptualize a multifaceted framework that helps to identify key determinants and coherent layers of transformative sustainable businesses models. Our theoretical arguments integrate recent research findings on external dynamics, such as digital technological advances and rising global competitive dynamics, with internal capabilities on both the organizational and the individual level, allowing for a more complete understanding of transformative potentials on the firm level. We propose that key determinants of sustainable transformative business models adhere to both, innovative value-creating reconstructionist and sustainable shared-value logic, and include elements such as co-creation with customers, usage-based pricing, agile and adaptive behavior, closed-loop resource employment, asset-sharing, and collaborative business ecosystems. At the same time, organizational, economic, and environmental layers encompassing sustainable business models need to be both horizontally and vertically coherent to unfold their full potential.

Taking four of the United Nations Development Goals as reference, this overview describes the need to see from a systemic perspective, the food certifications programs along the food chain in Mexico as today food certifications are voluntary. Using secondary data, the main objectives were: a) there is a fall short in food safety policies and those federal agencies responsible for food safety, to guarantee safe food along the whole domestic food chain, especially in that for low income players; b) the amount of the Mexican Federal Budget Expenses devoted to safety food issues is really low, considering the health, well- being, and food security consequences; and c) due the structural heterogeneity of the Mexican food market, there is a lack of coordination in food regulations along all agents of the food supply chain, bringing to alternate informal markets that put at risk peoples´ health, increasing poverty and inequalities. According to this exercise, only 0.7- 8.7% of producers, 12.5% of supermarkets as well as 42.8% of restaurants would have some type of certifications. Public policies must attend this issue in order to improve food safety and security for the whole population, reducing inequalities, poverty and ensuring them a healthy live.

Portfolio weights solely based on risk avoid estimation error from the sample mean, but they are still affected from the misspecification in the sample covariance matrix. To solve this problem, we shrink the covariance matrix towards the Identity, the Variance Identity, the Single-index model, the Common Covariance, the Constant Correlation and the Exponential Weighted Moving Average target matrices. By an extensive Monte Carlo simulation, we offer a comparative study of these target estimators, testing their ability in reproducing the true portfolio weights. We control for the dataset dimensionality and the shrinkage intensity in the Minimum Variance, Inverse Volatility, Equal-risk-contribution and Maximum Diversification portfolios. We find out that the Identity and Variance Identity have very good statistical properties, being well-conditioned also in high-dimensional dataset. In addition, the these two models are the best target towards to shrink: they minimise the misspecification in risk-based portfolio weights, generating estimates very close to the population values. Overall, shrinking the sample covariance matrix helps reducing weights misspecification, especially in the Minimum Variance and the Maximum Diversification portfolios. The Inverse Volatility and the Equal-Risk-Contribution portfolios are less sensitive to covariance misspecification, hence they benefit less from shrinkage.

As the demand for a more sustainable society increases, adopting a sustainable banking approach serves as a competitive advantage for banks that are focused on attaining bank loyalty. This study revolves around understanding the role of sustainable banking practices on bank loyalty, while exploring the mediating effect of corporate image in the relationship between sustainable banking practices and bank loyalty. 511 data derived from customers of the banking sector was adopted for this study. Result from the structural equation modeling shows that sustainable banking practices positively and directly affects bank loyalty and corporate image, corporate image directly and positively affect bank loyalty, and also mediates in the relationship between sustainable banking practices and bank loyalty.

In the repercussions of the latest financial crisis that have occurred on the years 2008-2009, to fortify the stability of the banking systems, policy makers, and the Basel Committee on Banking Supervision – BCBS, together with national regulators have built up a few safety measures, and structures to guarantee that banks establishments keep up adequate capital levels through using risk management tools, in specific the Internal Capital Adequacy Assessment Processes (ICAAP). They all have called for thorough evaluations and assessments for the structure and components of risk management frameworks, tools, and practices whether by banks, regulators, analysts and risk management experts consistently, to ascertain the adequacy of the banking systems, policies, arrangements and techniques for overseeing risks, and guaranteeing the sufficiency of holding appropriate capital levels for confronting normal, as well as adverse and unexpected situations or emergencies. The main objectives of this research study is to shed the light on the ICAAP as one of the main keys of risk management programs, a process by which banks can use to ensure that they operate with an appropriate levels of capital, forward looking processes for capital planning covering a broad range of risks across banks, activities beyond simple capital management, and brings together risk and capital management activities in a form that can be used to support business decisions. The research study shall evaluate the significant relationship between the Banking System Stability (dependent variable) and the Internal Capital Adequacy Assessment Process (ICAAP – independent variable) with evidence from the Egyptian Banking Sector.

The governance of public sector infrastructure projects became an important topic of interest in the project, programme and portfolio management literature during the last decade. Today, it is becoming a central focus for policymakers seeking to ensure success in selecting, designing and implementing government-sponsored programme of multi-projects. Due to the multiple underlying risks and complexities, the governance of infrastructure programme constitutes a critical element in strategic planning in developing countries. This paper has analyzed infrastructure development programme and revealed shortcomings in the areas of appraisal, decision-making, quality assurance and stakeholder management. Approaches to remedy these shortcomings have been proposed.

Bio-economy is a major area of the strategy that must enable the European Union to achieve growth: smart, through the development of knowledge and innovation; and sustainable, based on a greener, more efficient economy in resource management. We believe that the progress of bio-economy cannot be achieved without the harnessing of intellectual capital. Our research aimed to emphasize the benefits of the dynamics of the intellectual capital growth on the evolution of the bio-economy. The aim of this analysis was to study the established link between the Energy Intensity of the Economy (EIE) and a number of factors that can measure the intellectual capital, such as: Market Capitalization of Bitcoin, Patent applications listed by European Patent Office and the Turnover from Innovation as a proportion of the total Turnover. The ultimate goal was represented by the generation of a regression model to see what factor influences mostly the progress of the bio-economy at European and Romanian level.

This research aims to determine the influence of the independent commissioners, audit committee, institutional ownership, firm size and leverage against the integrity of the financial reporting information. This research is quantitative research with the causal approach. This study uses secondary data and panel data regression analysis method. The research results prove that audit committee, institutional ownership and leverage effect on the integrity of the financial reporting information. But it does not prove that the independent commissioner and firm size effect on the integrity of the financial reporting information.

The paper is devoted to fundamental issues concerning to the ideology of the future sustainable development. Its implementation has available in the first place basing on the recognized framework concept of sustainable development (SD). At the same time, this concept requires serious improvement. As follows from the argumentation, a realistic design of institutional changes in connection with resource and organizational/behavioral changes needed for SD is called for to realize in the line of overall social system transformation. Its adequate understanding presupposes an exhaustive study of interconnected transformations in the main social fields as system processes taking into account the influence of relatively exogenous factors (technological, demographic and climate changes).According to the author, the transition to global sustainable social transformation is achievable. Main attention focuses on a number of possible fundamental shifts, the synergetic implementation of which will make such a transition possible.Proceeding from the arguments, the sustainable reproduction of the economy of a mature post-industrial type, including the green sectors, implies its stable and quiet growth, although the rapid growth of individual markets, especially innovative ones, may take place. The main findings also include the substantiation in favor of the choice of the national middle way model as the most appropriate for the corresponding sustainable system transformation of society.

Village development aims to improve the welfare of villagers and the quality of human life. The purpose of this study was to formulate a coastal tourism management model toward developing independent tourist village. This study employed a quantitative approach by using survey methods. The data analysis was performed by using Structural Equation Modeling (SEM). There were 4 variables namely: the potential of mangrove ecosystem, the perception of coastal community, the coastal tourism facilities, and the coastal ecotourism. The results indicated that there were 2 variables which had a significant effect on the management of coastal tourist village namely the perception of coastal community and coastal ecotourism. Furthermore, the management of coastal tourist village had a significant effect on the development of independent tourist village, and the management of coastal tourist village was a strong mediator to develop an independent coastal tourist village.

The seasonally adjusted civilian labor force participation rate, the sum of employed and unemployed persons as a percentage of the civilian non-institutional population, is analysed in the general to specific modelling framework with a saturating set of step indicators from January 1977 through June 2018. The results indicate that, ceteris paribus, the rise in the ratio of women to men in the labor force in addition to positive demographic movements can largely account for the rise in the labor force participation rate up to January 2000. Subsequently, the aging population helps to explain the decline. Recessions play a transitory role.

Bioenergy produced from perennial feedstocks such as woody biomass could serve as an opportunity to strengthen local and regional economies and also jointly produce various environmental services. In order to assess the potential for biomass- based bioenergy, it’s essential to characterize the interest that potential biomass suppliers have in such an endeavor. In the U.S. Great Plains region, this largely means assessing relevant perceptions of farmers and ranchers. We conducted a series of farmer and rancher oriented focus groups in North Dakota, South Dakota, Nebraska and Kansas to qualitatively explore opinions about the role that trees can play in agriculture and interest in woody biomass systems within existing Northern Great Plains (NGP) farms and ranches. Our findings suggest that farmer and ranchers generally value the role that trees, or tree-based practices like windbreaks can play in agriculture particularly on marginal farmland in terms of conservation or crop protection. Yet relative to the potential of trees as a biomass crop there is a distinct lack of knowledge and skepticism. Farmers and ranchers also noted variable degrees of risk concern and uncertainty regarding investing in tree-based systems, as well as a number of perceived external market related constraints to integrating trees within their managed systems. Most of the participants recognized that if biomass production or an increase in tree planting and management in general were to expand in the NGP region, government programs would likely be required to provide much needed technical guidance and financial incentives. As the NGP regional bioeconomy continues to emerge and expand, private and public investment relative to niche bioenergy feedstocks such as woody biomass should address the type of information needs that farmers and ranchers have relative to integrating biomass production into existing farm and ranch systems.

This is a theoretical and empirical article. In the first part, an original definition of the cross-border market for cultural services has been developed, based on classic market definitions. The structure and conditions of functioning for this market have also been presented. The next part of the article discusses the supply side of the cross-border market of cultural services for the two twin towns: Cieszyn (Poland) and Český Těšín (Czech Republic). Next, based on the surveys conducted, the participation of residents of both towns in the most important cultural events organised by cultural institutions on both sides of the border was examined.

Over the past few decades, aircraft Ground Handling Operations (GHO) have been investigated by numerous researchers. Some aspects of GHO have been more focused on than others due to their importance in the GH processes. For instance, GHO performance has been tackled from different perspectives while workers and vehicles allocation suffer from the lack of research in the area. This paper is a literary review of the research that has been conducted in different areas of GHO. It sheds light on GHO performance, resource allocation and scheduling, operations scheduling, vehicle routing, and workers and vehicles allocation.

This paper evaluates the effect of China’s New Rural Pension Scheme (NRPS) on the retirement sustainability in forms of both formal labor supply and informal labor supply, using data from China Health and Retirement Longitudinal Study (CHARLS). We explore the regional differences of the NRPS effect on labor supply between the Western regions and the other regions of China. Our analysis shows that western rural China has a more severe problem of “ceaseless toil” compared to the rest of the country. We find that NRPS improves the “ceaseless toil” situation of the Chinese rural elderly, and the results show a very different pattern between western China and other parts of the country.

The paper investigated the components of savings accumulation in Nigeria over the period 1980 to 2017. Secondary data were collated from World Development Index (WDI). In evaluating the objectives, the study employed the Auto Regressive Distributive Lag (ARDL) and Vector Error Correction Model (VECM) estimation methods. The key findings of the study show that the components of savings identified in literature understudied in the paper specifically, GDP per capita, foreign direct investment, financial deepening, interest rate, inflation rate exchange rate significantly influence savings accumulation in Nigeria either in short run, long run or both. Financial deepening was found statistically significant but influences savings negatively. Inflation rate was statistically insignificant although negative. The result from the VECM causality test revealed that short run and long run causal relationship exist between savings and the afore mentioned components in Nigeria. Hence, the study recommends careful manipulation of the identified savings components in a manner that they will not yield a counterproductive result in the economy rather contribute to the growth of savings and ultimately, the growth of Nigeria economy as a whole. It further recommends that the Nigerian government through its financial institutions encourage savings from both small and big savers which to large extent will assuage the perceived undeserved influence of financial deepening on savings accumulation.

Contract between grower and integrator has been used extensively in broiler industry all over the world. One important advantages of contract is risk management, in which contract shifts a portion of grower risk to integrator. Thus, this paper attempted to measure the amount of risk shifted from grower to integrator and the consequences of this benefit to grower. Using a panel data of actual production records of 46 Indonesian broiler growers for the period of January 2014 through December 2017, we systematically measure the amount of risk shifted to integrator and its consequences to grower. The results showed that 78.43% grower risk is shifted to integrator. However, to acquire this benefit grower receive 15% less income. Furthermore, grower face the possibility of losing their asset and stopping their production as the consequences of entering contract.

Self-consciousness can be considered as the internal disposition to direct attention to oneself. This dispositional tendency can be focused on private aspects of the self, but also on public characteristics of the individual. We examine self-consciousness in online consumer behavior. This concept has been poorly investigated in consumer research. The main objective of this paper is to analyze the influence of the dimensions of self-consciousness in consumer adoption of online shopping. This study is based on a sample of 725 Spanish undergraduates. Results indicated that public self-consciousness is a significant predictor of the adoption of online shopping.

Various sudden shifts in financial market conditions over the past decades have demonstrated the significant impact of market structural breaks on firms' credit behavior. To characterize such effect quantitatively, we develop a continuous-time modulated Markov model for firms' credit rating transitions with the possibility of market structural breaks. The model takes a semi-parametric multiplicative regression form, in which the effects of firms' observable covariates and macroeconomic variables are represented parametrically and nonparametrically, respectively, and the frailty effects of unobserved firm-specific and market-wide variables are incorporated via the integration form of the model assumption. We further develop a mixtured-estimating-equation approach to make inference on the effect of market variations, baseline intensities of all firms' credit rating transitions, and rating transition intensities for each individual firm. We then use the developed model and inference procedure to analyze the monthly credit rating of U.S. firms from January 1986 to December 2012, and study the effect of market structural breaks on firms' credit rating transitions.

This paper identifies a dilemma in the relationship between R^2 and price efficiency: After comprehensively studying the R^2 change around 7 well-known corporate events, neither the traditional understanding of R^2 as price inefficiency, nor the behavioral way of R^2 as price efficiency can explain the observed R^2 change around the events. We adopt an alternative methodology to replace the standard difference-in-difference regression and directly decompose the R^2 change. We find that, due to the endogeneity of events, the changes of R^2 are over-estimated. We further propose that in the event study setting, the R^2 change may be simply the consequence of the inflow/outflow of some trend-chasing investors, and it may be detached from price (in) efficiency. Empirical evidences are consistent with this hypothesis.

Small business sector around the world is regarded as a catalyst of employment for the largest number of people. To reduce massive unemployment and inequality in the country, the Government of South Africa introduced various initiatives to stimulate and support small businesses, the Expanded Public Works Programme (EPWP) is one of such initiatives. The enterprise development approach, is one of the delivery mechanisms of the EPWP, which seeks to transfer income to poor households in the short to medium-term. This study critically assess the impact and effectiveness of training and support interventions provided to small businesses through the EPWP. The study employs a quantitative research method and due to the size, availability and ease of access to the participants, the entire population of twenty (20) small businesses supported by the EPWP in Pretoria Region was sampled. A questionnaire-based survey was conducted. The study demonstrates that the training intervention provided through the EPWP is making positive impact and achieving its intended goals of enhancing business management skills to participants. It also reveals an interesting outcome that the majority of the participants are women. The study also identified some weaknesses in the programme which leads to the recommendation that long-term support mechanisms are essential to ensure sustainability of emerging enterprises.

This paper analyzes if the Financial Fair Play (FFP) regulations set by UEFA have influenced the auditing fees charged to the football clubs. In addition, it explores the determinants of audit fees. We use a two-sample t test with equal variances to determine whether differences are present. After this, we carry out a panel data regression with clubs fix effect to estimate the determinants of audit fees in football clubs. Our findings reveal an increase of audit fees after the implementation of FFP regulations. On top of that, audit fees are explained by the presence of foreign investors if the audit firm is one of the Big4 and if the auditor is a woman. The regulation change has an impact on the audit fees charged by auditors for their services. However, this increase can be compensated across future years given the improving financial situation of clubs; therefore, the auditors’ risk diminishes and subsequent audit fees may be reduced. UEFA should monitor audit fees as well as the quality of the audit reports, which have become crucial to obtaining the license to participate in UEFA competitions.

The present examination explored the impact of work spirituality and procedural justice on work locus of control, worker work fulfillment and representative authoritative duty among workers from private establishments of high learning in South Africa. Due to limited researches that have concentrated on the impact of workplace spirituality and procedural justice on work locus of control, employee job satisfaction and employee organisational commitment in developing countries especially in Southern Africa. A review was done and information was accumulated by methods for surveys on a sample of 150 academics and support staff in a private university setting in Gauteng, South Africa. Structural equation modelling was employed to analyse data using the Smart Partial Least Squares (PLS) software. By means of a partial least squares structural equation modeling approach, this study validates that elements such as workplace spirituality, procedural justice and work locus of control are instrumental in stimulating the employee job satisfaction and employee job commitment. The present investigation offers suggestions for academicians in the field of resource management by upgrading their comprehension of the how workplace spirituality and procedural justice impacts work locus of control, employee job satisfaction and employee organisational commitment

Despite the expectation that social media use in the public sector contributes to enhancing government's transparency, few studies have been investigated whether social media use actually leads to more disclosure during environmental incidents in practice and how social media influence local governments and their officials' information disclosure. In this article, we model information disclosure during environmental incidents as an evolutionary game process between the central government and local government in social media context, and examine the internal mechanism that how social media influence the progress of information disclosure during environmental incidents. The findings indicate that social media plays an active constructive role in central-local government game relations. Specific- ally, social media can provides an efficient information channels for the central government supervise regional officials in environmental incidents, and thus improves its supervision efficiency, and it also provides an important means for internet mobilization and online-offline interaction by encouraging the public exchange information and express their views, and in turn forces local governments and their officials tend to disclosure ahead.

Referring to the concept of inclusive growth, the authors analyse the transition economies of the Central and Eastern European countries, which are the current EU members (Bulgaria, Croatia, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia and Slovenia). That region was selected as the CEE countries characterized by comparable historic and economic background but now they seem to reach diversified stages of development. The objective of the study is to identify the level of inclusive growth among the CEE countries, taking into account indicators assigned to its seven pillars. The thesis is that the CEE countries represent socio and economic heterogeneity as well as different levels of sustainable development. The research methods involved the application of the principal components analysis and the multivariate analysis. For literature review, the bibliometric analysis was conducted with the visualization prepared by the VOSviewer software. The main findings suggest that Estonia, Slovenia and the Czech Republic seem to be the ones with the highest inclusive growth. On the other hand, Bulgaria and Romania represent the lowest level of inclusive growth indicators.

We present a new method of estimating fitness of countries and complexity of products by exploiting a non-linear non-homogeneous map applied to the publicly available information on the goods exported by a country. The non homogeneous terms guarantee both convergence and stability. After a suitable rescaling of the relevant quantities, the non homogeneous terms are eventually set to zero so that this new method is parameter free. This new map reproduces the findings of the method proposed by Tacchella et al. [1], and allows for an approximate analytic solution in case of actual binarized matrices based on the Revealed Comparative Advantage (RCA) indicator. This solution is connected with a new quantity describing the neighborhood of nodes in bipartite graphs, representing in this work the relations between countries and exported products. Moreover, we define the new indicator of country net-efficiency quantifying how a country efficiently invests in capabilities able to generate innovative complex high quality products. Eventually, we demonstrate analytically the local convergence of the algorithm.

In the second decade of the 21st century, social media changed the nature of communication and cooperation between participants of the culture services market. They became, among other things, an important marketing instrument in the area of contact with the customers of the cultural offer. However, despite their growing importance in various areas of activity of organisations in the cultural sector, the issue of building the cultural institution's brand equity by social media users is relatively seldom raised. Research on the impact of online consumer activity on brand equity is at an early stage of development. Therefore, this article is an attempt to fill the research gap in this area. The article presents the results of a survey conducted in 2018 on a group of 1021 consumers of cultural services, who at the same time regularly used social media. The statistical analysis carried out and the research results obtained prove that the 3C sustainable system developed by the authors, concerning the activity of consumers of cultural services in social media, stimulates the consumer-based brand equity (CBBE). Statistically significant relations have been observed in particular for CBBE components related to the awareness of a cultural institution's brand and for the relationship related to the perception of its quality. The study opens a review of literature on social media and consumer-based brand equity (CBBE). Next, based on the COBRA model (consumer's online brand-related activities), a proposal of the 3C sustainable system, concerning the activity of consumers of cultural services in social media, has been presented. The further part of the article presents research hypotheses, a conceptual model, research methodology as well as results and conclusions. The last part of the article discusses the results obtained and indicates the existing management implications.

The issue of women participation in top management and boardroom positions has received increasing attention in the academic literature and the press. However, the pace of advancement for women managers and directors continues to be slow and uneven. Built on a novel framework organized around factors affecting 1) career persistence (staying at the organization) and 2) career advancement or mobility (getting promoted in the organization), this study analyses the particular context of Chile. Our framework organizes the factors at the individual, organizational and public policy level that affect both career persistence and advancement of women in top management positions in Chile. Only 32 percent of women “persist” or has a career without interruptions, mainly affected by work-family integration and organizational environments with transparent and challenging working conditions. Women who “advanced” in their professional careers represent 30 percent of high management position in the public sector and 18 percent in the private sector. Only 3 percent of general managers in Chile are women. Women in Chile have limited access and are still not integrated in the business power networks. Our findings enlighten business leaders and public policy-makers interested in designing organizations that retain and promote talented women in top business positions.

This paper examines the effect of chronotype on the delinquent credit card payments and stock market participation through preference channels. Using an online survey of 455 individuals who have been working for 3 to 8 years in companies in mainland China, the results reveal that morningness is negatively associated with delinquent credit card payments. Morningness also indirectly predicts delinquent credit card payments through time preference, but this relationship only exists when individuals’ monthly income is at low and average level. On the other hand, financial risk preference accounts for the effect of morningness on stock market participation. Consequently, an additional finding is that morningness is positively associated with financial risk preference, which contradicts previous finding in the literature. Finally, based on the empirical evidence, we discuss the plausible mechanisms that may drive these relationships and the implications for theory and practice. The current study contributes to the literature by examining the links between circadian typology and particular financial behaviours of experienced workers.

The paper aims to investigate on the determinants of the capital structure of the Italian SMEs and it is based on a large panel of Italian manufacturing SMEs observed in the years 2001-2013. The analysis achieves a comparative investigation between the capital structure of the firms belonging in the Southern region, the so-called Italian Mezzogiorno that is the slow growing area of the country, and the firms of the Center-northern region of Italy, that is the more developed area of the country. Fixed effect panel techniques applied to the several standard leverage models allows to reaffirm some distinctive features showing differences of the financial behavior of regional firms.

The paper, through and extended literature review, based on bibliometrics and conceptual reasoning, analyzes the main models of coopetition, in order to verify the link between coopetition and innovation, getting to proposal that can be useful for further research.

Crop production is a major livelihood activity of smallholders in Ethiopia. However, it is often characterized by low performance. In an effort to improve crop production, a series of agricultural extension programs have been running in Ethiopia since the 1950s. Nevertheless, the performance of agriculture is still low. In this study, it is argued that the limited attention given to cropland allocation methodologies is one of the major causes of low performance of crop production and increased environmental degradation. This study used linear programming to examine the role and impacts of cropland allocation methods on performance of crop production. The data for this study was drawn from household survey of 75 randomly selected households combined with focus-grouped discussion, key informant interview, and secondary data. In the current conventional cropland allocation, households were not able to meet their household consumption. The average profitability of farms under current practice was found significantly below than estimated optimal level of profit that could be realized using linear programming. In addition, it uncovered that low performance of crop production (in terms of meeting household consumption demand and profitability) is the primary cause that limited the effort of households to participate in environmental and natural resource management. This study suggests the use of linear programming-based cropland allocation to enhance the profit performance of smallholder crop production, meeting household consumption requirement, and thereby promote sustainable utilization of natural and environmental resources.

The article addresses the issue of consumer preferences for types of coffee in Poland (ground coffee, instant coffee, coffee beans, instant coffee mixes and instant cappuccino). The main source of the study is the results of primary research conducted using a structured interview (CAPI—Computer Assisted Personal Interview) on a nationwide sample of 800 coffee consumers. The research was conducted by Grupa IQS Sp. z o.o. from Warsaw in January 2016 for the MOKATE Group based on the assumptions and guidelines developed by the authors of the article. The main purpose of the article is to present the identified coffee consumer preferences in Poland with regard to various kinds of coffee. The results of the research which have been included in the article indicate, among others, ongoing changes in the preferences of Polish consumers regarding their coffee choices. They prove that Polish consumers are drinking ground coffee more and more often. The consumption of instant coffee is decreasing.

Over the past decade, the credit quality of loan portfolios across most countries in the world remained relatively stable until the financial crises hit the global economy in 2007–2008. In this paper I discuss, the relationship between non-performing loans and economic landscape. Since 2008, nonperforming loans have been an increasingly hot topic in the international scene, due to their important and rising volume and their impact on the economy as a whole, on the banking system and on its credit supply. Since then, average bank asset quality deteriorated sharply due to the global economic recession. Yet the deterioration of loan performance was very uneven across countries. I am interested in explaining these differences in bank asset quality across countries and over time. In this paper, I therefore study the empirical determinants of non-performing loan (NPL) ratios using a data set for EU countries covering the past decade. The paper assumes that the spatial organization of banking systems and the geographical distribution of comercial banks branches, ATMs and GDP growth are major factors influencing the effectiveness in credit system. The aim of this paper is to construct a continuous and quantifiable model, which will demonstrate a role of economic condition, technology, competition, policy, business climate in Financial Stability. Main hypotheses suggests, that GDP growth, interest rate, new business, FDI, ATMs and geographical distribution of branches have an influences on NPL (non-performing loans).

This is a theoretical and empirical article. Basic issues related to consumer behaviour on the market of cultural services are presented in the first part of the article. The second part presents the brief characteristics of consumers of cultural services in Poland, as well as an analysis of their market behaviour. For this purpose, surveys were conducted on a group of 2599 consumers of the cultural offer. Research was conducted in Katowice - the largest city in the Silesia region in Poland. The article also highlights the main trends in consumer behaviour on the market of cultural services in Poland in particular: increasing mobility of the consumers of the cultural offer, growing diversity in the methods of acquiring information about cultural events and increase in the importance (purchasing power) of consumers in the retirement age in the market of cultural services. In the last part of article authors indicate on the resulting implications for sustainable cultural management in Poland - particularly marketing.

This case study assessed marketing arrangements used by small scale farmers in the Lake Basin and Lower Eastern bean corridors of Kenya to determine which markets work for rural producers and what changes are needed to produce and supply sufficient quantities for trade. Using exploratory research, data was collected through focus group discussions with six farmer groups representing a total of 1255 bean farmers and key informant interviews with extension staff. The results indicated that 94% of the farmers produced beans before identifying buyers with only 6% participating in group marketing. Though spot-market transactions with brokers and traders provided ready cash for the farmers, formal buyers were perceived to be more reliable but difficult to find and, operated stringent requirements which were a barrier to entry. A theory of change to integrate smallholders into formal markets to sustainably produce and supply sufficient volumes for trade should entail a transformation agenda at four levels of the value chain: intensification of production through pure stand models with greater use of certified high yielding varieties; stable price guarantees; a market-driven research and extension service and; an enabling political, policy and business environment in the bean value chain. Further research is needed to pilot these changes in a case control study.

This paper discusses corporate taxes and Foreign Direct Investment (FDI) in Nigeria. It is a review of literature that attempts to explore and give a reality on the response of FDI to corporate taxes. This paper shows in its introductory phase a prior discussion of the terms corporate tax and FDI and also elements of both terms and classifications. It follows with issues such as the effects of corporate taxes on FDI. This paper discusses the rhetoric whether reduced corporate taxes and other tax incentives has an effect on the inflow of FDI in Nigeria. To answer this question, the paper utilised information gathered from secondary sources including books, newspapers publications, working papers and research findings from studies. This paper shows that from surveyed empirical studies corporate taxes may have an important role in attracting FDI and have a rising effect on the development of the country, and as such recommends that tax incentives should be employed as a means to attracting FDI, a cost benefit analysis should be employed on the types of corporate taxes to determine the benefit from the perceived FDI inflow, in addition a review of the current tax policies should be carried out as they seem not to respond to the current economic situation.

The objective of this study is to determine the type of governance of the four main agricultural value chains in Tamaulipas, northeast of Mexico. For the preparation of this research used a qualitative design, using a questionnaire and semi-structured interviews to a sample of representatives of the four selected chains. The results showed that in all the studied networks, control and coordination capacity is limited by the influence that has a link on the rest of the chain. In all cases, was that the industrial link is who leads the chains and exert control over the rest of the links. The results showed that, when the industrial link is located close geographically to the rest of the links (chains of rice and sugar cane), the chains showed a hierarchical type, where the industrial exercised dominion over the rest of the links and captures most of the income. On the other hand, in chains where control is exercised by links that are outside the territory (chains of soybeans and sorghum), they function as captive chains, putting the rest of the chain to its influence and control.

1) Background: In service business areas, design enhances the customer experience through the elements which anticipate specific emotional responses of customers. Many service companies are keen to develop and examine design elements from the customer perspective. Furthermore, recently, having considered the significance of customers’ emotional responses by design elements, categorising design elements into manageable dimensions can facilitate the evaluation of design elements. However, design elements and dimensions of design value are not defined in the current service marketing literature, and companies need a measurement tool and managerial guideline to their innovative value creation and compelling service delivery. For these reasons, this research aims to categorise the design value dimensions and propose the managerial implication for the innovative use of design; 2) Methods: This study used the mixed methodology; two stages of interviews and SEM (Structural Equation Modelling); 3) Results: Interview analyses facilitate the identification of design elements in the service delivery process. SEM results underpin the relevance of the categorised design elements and their impact on customer loyalty by comparing different groups (country and time elapsed from experience); and 4) Conclusions: Findings are the fundamentals of developing measuring tool for design and trigger future studies for conceptualising intangible assets.

This article evaluates the macroeconomic implications of commercial bank seigniorage, which emerges from the commercial banks’ power to create money in a fractional reserves regime. After evaluating the impact on aggregate output of commercial bank money relative to alternative exchange arrangements, the article identifies the determinants of commercial bank seigniorage and analyzes how equilibrium prices are determined in an economy where commercial banks extract seigniorage. The article also identifies the conditions under which commercial banks extract seigniorage, clarifies the relationship between seigniorage from commercial bank money creation and profits from pure financial intermediation, and shows how commercial bank seigniorage changes with different types of interbank payments settlement.

Economic theory states that incineration and landfill taxes can be a good policy to reduce environmental impacts of these activities by reducing their importance and associated pollutants, while stimulating reuse and recycling of materials. In this research we assess the economic and environmental effects of these taxes in Spain with the use of a detailed dynamic CGE model, under different scenarios. We focus the economic impact on GDP and sectorial production, and the environmental impact on different impact categories: global warming potential, marine eutrophication potential, photochemical ozone formation potential, particulate matter, human toxicity (cancer and non-cancer), ecotoxicity, and depletion of fossil resources). We find in all scenarios that these taxes have a limited economic impact, while reduce all of the environmental impact categories analyzed.

Crowdsourcing is one of the new themes that has appeared in the last decade. Considering its potential, more and more organisations reach for it. It is perceived as an innovative method that can be used for problem solving, improving business processes, creating open innovations, building a competitive advantage, and increasing transparency and openness of the organisation. Crowdsourcing is also conceptualised as a source of a knowledge-based organisation. The importance of crowdsourcing for organisational learning is seen as one of the key themes in the latest literature in the field of crowdsourcing. Since 2008, there has been an increase in the interest of public organisations in crowdsourcing and including it in their activities. This article is a response to the recommendations in the subject literature, which states that crowdsourcing in public organisations is a new and exciting research area. The aim of the article is to present a new paradigm that combines crowdsourcing levels with the levels of learning. The research methodology is based on an analysis of the subject literature and exemplifications of organisations which introduce crowdsourcing. This article presents a cross-sectional study of four Polish municipal offices that use four types of crowdsourcing, according to the division by J. Howe: collective intelligence, crowd creation, crowd voting, and crowdfunding. Semi-structured interviews were conducted with the management personnel of those municipal offices. The research results show that knowledge acquired from the virtual communities allows the public organisation to anticipate changes, expectations, and needs of citizens and to adapt to them. It can therefore be considered that crowdsourcing is a new and rapidly developing organisational learning paradigm.