rss_2.0Business and Economics FeedSciendo RSS Feed for Business and Economicshttps://www.sciendo.com/subject/EChttps://www.sciendo.comBusiness and Economics Feedhttps://www.sciendo.com/subjectImages/Bussiness_&_Economics.jpg700700Closed trail decompositions on grid graphshttps://sciendo.com/article/10.1515/puma-2015-0040<abstract><title style='display:none'>Abstract</title><p>Let <italic>G</italic> = <italic>G</italic>(<italic>n, m</italic>) be a rectangular solid grid graph and 𝒜(<italic>G</italic>) be a minimum length Eulerian augmentation of <italic>G</italic>. Let <italic>l</italic><sub>0</sub>, . . ., <italic>l<sub>t</sub></italic> ∈ ℕ such that <inline-formula><alternatives><inline-graphic xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="graphic/j_puma-2015-0040_eq_001.png"/><mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline"><mml:mrow><mml:msubsup><mml:mo>∑</mml:mo><mml:mrow><mml:mi>i</mml:mi><mml:mo>=</mml:mo><mml:mn>0</mml:mn></mml:mrow><mml:mi>t</mml:mi></mml:msubsup><mml:mrow><mml:msub><mml:mrow><mml:mi>l</mml:mi></mml:mrow><mml:mi>i</mml:mi></mml:msub></mml:mrow><mml:mo>=</mml:mo><mml:mrow><mml:mo>|</mml:mo><mml:mrow><mml:mi>E</mml:mi><mml:mo stretchy="false">(</mml:mo><mml:mi>𝒜</mml:mi><mml:mrow><mml:mo>(</mml:mo><mml:mi>G</mml:mi><mml:mo>)</mml:mo></mml:mrow></mml:mrow><mml:mo>|</mml:mo></mml:mrow></mml:mrow></mml:math><tex-math>\sum\nolimits_{i = 0}^t {{l_i}} = \left| {E(\mathcal{A}\left( G \right)} \right|</tex-math></alternatives></inline-formula> where 2(<italic>n</italic> + <italic>m</italic>) <italic>≤ l<sub>i </sub></italic>= 2<italic>k<sub>i</sub></italic>. In this paper, we exhibit a constructive procedure providing an edge-disjoint decomposition of 𝒜(<italic>G</italic>) into closed trails <italic>T</italic><sub>0</sub>, . . ., <italic>T<sub>t </sub></italic>such that <italic>|E</italic>(<italic>T<sub>i</sub></italic>)<italic>|</italic> = <italic>l<sub>i</sub></italic>.</p></abstract>ARTICLE2021-07-27T00:00:00.000+00:00Finiteness of the criss-cross algorithm for the linear programming problem with s-monotone index selection ruleshttps://sciendo.com/article/10.1515/puma-2015-0041<abstract><title style='display:none'>Abstract</title><p>The traditional criss-cross algorithm for the linear programming problem is shown to be finite when <bold>s</bold>-monotone index selection rules are used. The set of <bold>s</bold>-monotone index selection rules, among others, include the Last In First Out (LIFO) and the Most Often Selected Variable rule (MOSV). The advantage of applying the <bold>s</bold>-monotone index selection rule is the flexibility it provides in selecting the pivot element while still preserving the guarantee for finiteness. Such flexibility may be used to improve the numerical stability of the algorithm.</p></abstract>ARTICLE2021-07-27T00:00:00.000+00:00The Importance of Positive Leadership in the Process of Change on the Example of the Banking Sectorhttps://sciendo.com/article/10.2478/fman-2021-0007<abstract> <title style='display:none'>Abstract</title> <p>In today's world, the success of modern company in dealing with change depends, to a large extent, on a positive approach toward its knowledge workers. The aim of the present study is to indicate the significance of positive leadership in the implementation of crucial changes in an organization in the environment of knowledge workers. The study has researched the case of a major Polish bank undergoing significant change in the Risk Management Division. Presented research covers the period between 2013 and 2019 and was conducted thanks to the participation of nearly 600 employees. Changes in the level of their engagement were systematically studied. All ten leaders in the division were also investigated, so that ten individual Reiss Motivation Profile (RMP) profiles could be created. Study results have confirmed that team leaders possess characteristics that confirm their preferred style is positive leadership, with a clear servant leadership attitude. The formulated hypotheses have been positively verified. It has been confirmed that the orientation of leaders on positive leadership ensured an effective implementation of crucial changes in the environment of knowledge workers.</p> </abstract>ARTICLE2021-06-29T00:00:00.000+00:00Digital Innovations and Smart Solutions for Society and Economy: Pros and Conshttps://sciendo.com/article/10.2478/fman-2021-0008<abstract> <title style='display:none'>Abstract</title> <p>Recent developments in artificial intelligence (AI) may involve significant potential threats to personal data privacy, national security, and social and economic stability. AI-based solutions are often promoted as “intelligent” or “smart” because they are autonomous in optimizing various processes. Because they can modify their behavior without human supervision by analyzing data from the environment, AI-based systems may be more prone to malfunctions and malicious activities than conventional software systems. Moreover, due to existing regulatory gaps, development and operation of AI-based products are not yet subject to adequate risk management and administrative supervision. Resonating to recent reports about potential threats resulting from AI-based systems, this paper presents an outline of a prospective risk assessment for adaptive and autonomous products. This research resulted in extensive catalogs of possible damages, initiating events, and preventive policies that can be useful for risk managers involved in conducting risk assessment procedures for AI-based systems. The paper concludes with the analysis and discussion of changes in business, legal, and institutional environments required to ensure the public that AI-based solutions can be trusted, are transparent and safe, and can improve the quality of life.</p> </abstract>ARTICLE2021-07-25T00:00:00.000+00:00Innovation and Leadership: A Study of Organizations Based in the United Arab Emirateshttps://sciendo.com/article/10.2478/fman-2021-0006<abstract> <title style='display:none'>Abstract</title> <p>The successful practice of innovation in any organization demands the integration and interaction of individual, collective, and organizational climate levels of management. Leadership styles have an impact on all these three levels of management. However, little work has been done to assess this impact, especially in the context of United Arab Emirates (UAE)-based organizations. This study was conducted with the purpose of assessing whether leadership processes, tools, and techniques differ in innovative organizations and, thereafter, propose general leadership requirements for innovative projects in the UAE. This study adopts statistical data-processing methods, such as descriptive statistics, the reliability of the instrument, correlation, and regression analysis. Data obtained through a survey of UAE-based organizations were used for analyzing whether innovativeness (as perceived by employees) is statistically correlated with leadership dimensions. The research results show that the transformational leadership style scores better over transactional leadership when it comes to predicting innovations.</p> </abstract>ARTICLE2021-06-08T00:00:00.000+00:00Quality Gaps in Higher Education from the Perspective of Studentshttps://sciendo.com/article/10.2478/fman-2021-0003<abstract> <title style='display:none'>Abstract</title> <p>The presented research work relates to the category of quality in higher education. This article aims to present the determinants of the quality of education in the context of international standards. The background of the considerations is the Bologna Declaration and the European Higher Education Area. The results of the research carried out with the use of the nominal group method and the data analysis carried out based on the SERVQUAL model for education revealed groups of quality determinants that are not included in the standards of internal quality assurance. It has been found that the principle of autonomy of universities in the European Higher Education Area is a sufficient basis to include the determinants of the quality of education identified by internal stakeholders of a given university in the internal quality of education assurance system.</p> </abstract>ARTICLE2021-05-10T00:00:00.000+00:00Real Time Enterprise as a Platform of Support Management Systemshttps://sciendo.com/article/10.2478/fman-2021-0001<abstract> <title style='display:none'>Abstract</title> <p>The current, fast market changes require enterprises to dynamically adapt the way they conduct their business. This poses many challenges for information technology. Market requirements for immediate response to business changes became the basis of the idea of a real-time information processing (RTE) company. RTE provides real-time information to employees and business partners. Integrated IT systems supporting management constitute a common platform – the foundation of a real-time enterprise. The aim of the article is to present the basic problems of building an IT system that is the basis of a real-time information processing (RTE) company. It is a summary of our work on this type of system. The article justifies the thesis about the need to build a system for the RTE's requirements and the conditions of its implementation. Such a system is designed to provide employees and business partners with the information they need in real time. The use of integrated systems such as ERP, CRM, SCM, and so on provides the ability to implement the main business processes of a real-time enterprise. The article presents both literature analysis and the characteristics of own work on designing IT systems for RTE. Particular attention was paid to the analysis of success factors (determinants) in system design and the use of MUST methodology (MUST is a Danish acronym for theories of and methods for design activities). The final part of the article presents a proposal for further work on IT systems for RTE in the context of existing trends such as DARQ technology (Distributed Ledger, Artificial Intelligence, Extended Reality, Quantum computing).</p> </abstract>ARTICLE2021-04-29T00:00:00.000+00:00Strategic Communication and Competitive Advantage: Assessing CEO Letters of Global Airline Allianceshttps://sciendo.com/article/10.2478/fman-2021-0005<abstract> <title style='display:none'>Abstract</title> <p>For the last several decades, global airline alliances have ensured their market presence in the aviation industry. Scholars have focused on the effects of alliance affiliation for airlines and what the competitive advantages of alliances are. However, these issues have been discussed in relation to operational aspects. The quality of strategic communication can be an important factor in achieving a competitive advantage and realizing a differentiation strategy. This study assessed the differences in quality of strategic communication between the three leading alliance groups (oneworld, SkyTeam, and Star Alliance) and a non-alliance group. Comprehensive content analysis was implemented using the letters of chief executive officers (CEOs) of 46 airlines. We found that the non-alliance group has more ideal CEO letters than the alliance groups, and the main topics and quality of CEO letters of alliance group differed. This study provides a novel insight into the competitive advantage of global airline alliances.</p> </abstract>ARTICLE2021-06-08T00:00:00.000+00:00Creating a New, Sustainable Mindset through Responsible Consumption: A Case Study of the International Chain of Sustainable Restaurantshttps://sciendo.com/article/10.2478/fman-2021-0004<abstract> <title style='display:none'>Abstract</title> <p>This paper presents research conducted in the United Arab Emirates with the management of Bareburger, the chain of sustainable restaurants, as well as among its clients. In our project, we are interested in the relation between the offer of sustainability and the culture of conscious consumption. The opinions of industry experts and customers collected in an interview session are analyzed to derive the answer to the research questions. The research focuses on finding the possibility of changing the mindset and habits of consumers and creating an impact on consumer behavior by offering a responsible and sustainable nutrition model. An experiment was conducted to analyze the effect of sustainable restaurants on consumer culture in terms of cultivating healthy food habits. In our case study, we analyze Bareburger, a healthier fast-food chain that originated in the United States, which took the concept of sustainability to a completely new level, from ideation to implementation. Observing this process, we checked whether the unhealthy eating habits that we observe in the Middle East can be changed through the carefully composed model of a responsible restaurant.</p> </abstract>ARTICLE2021-07-05T00:00:00.000+00:00Research Method for Management of Thermoplastics Production Improvement in Rubber Industry with the Use of 3D Simulation Modelinghttps://sciendo.com/article/10.2478/fman-2021-0002<abstract> <title style='display:none'>Abstract</title> <p>The paper concerns research and improvement of production processes in one of the European companies in the rubber industry<fn id="j_fman-2021-0002_fn_001" symbol="1"><p>The company did not allow the name or country to be given.</p></fn>. The main goal is to improve the production process of the thermo-plastics obtained from polymer materials on the company's production line. Improvement is defined as a reduction of the setup time of a key machine in the tested production process. The research method includes the analysis of the literature, observation of the studied process, and the accomplished computer simulation experiments. The proposed activities relate to the reinforcement of the key part of the machine, the change of the machine setup method, and the preliminary staff assignment to the specific tasks. The results of the simulation experiments confirm the implementation of the proposed improvements. The theoretical contribution to the research field development is the proposal of the simulation modeling methodology to improve production processes of continuous materials. Practical conclusions lead to recommendations for the implementation of improvements in the enterprise, with direct application of the proposed actions.</p> </abstract>ARTICLE2021-04-29T00:00:00.000+00:00The Use of Digital Technology Platforms in the Context of Cybersecurity in the Industrial Sectorhttps://sciendo.com/article/10.2478/fman-2021-0009<abstract> <title style='display:none'>Abstract</title> <p>This study discusses the use of digital technology platforms (DTPs) in the context of cyber-security in the industrial sector, with a focus on digital industry (industrial) platforms (DIPs). A definition of DTPs is presented, including the author's interpretation, as well as the scope of DTP application in the industrial sector, which includes, in particular, European Digital Platforms (EDPs) and Polish Digital Platforms (PDPs), such as non-ferrous metals PDP or intelligent transport systems PDP. This is followed by a section covering the theoretical basis of the study that highlights the key challenges and risks associated with the use of DTPs as well as the methods for their neutralization in the form of specific concepts and systems that can be employed in the industrial sector. The subsequent section of the study is based on results of the author's own survey which collected information from a total of 120 companies operating in Poland, which were granted subsidies under the Operational Program Innovative Economy for investments involving the implementation and development of DTPs. The survey was carried out using a questionnaire developed by the author, which consisted of 23 questions. In this respect, as shown by the author's own studies, of greatest relevance are hardware failures and Internet outage events. Most importantly, concerns about such risks are some of the major factors underlying the negative attitudes of management staff of industrial companies toward DTPs, and therefore, it is so important to ensure that any such risks can be effectively addressed. They can be avoided through the use of certain concepts and systems such as STOE or CVSS. A typical company may know the model of DTPs in the context of challenges in the field of cybersecurity through this study; in particular, it can improve IT security.</p> </abstract>ARTICLE2021-07-28T00:00:00.000+00:00Fragmenting the Family? The Complexity of Household Migration Strategies in Post-apartheid South Africahttps://sciendo.com/article/10.2478/izajodm-2019-0004<abstract><title style='display:none'>Abstract</title><p>The disruption of family life is one of the important legacies of South Africa’s colonial and apartheid history. Families were undermined by deliberate strategies implemented through the pass laws, forced removals, urban housing policy, and the creation of homelands. Despite the removal of legal restrictions on permanent urban settlement and family co-residence for Africans, patterns of internal and oscillating labor migration have endured, dual or stretched households continue to link urban and rural nodes, children have remained less urbanized than adults, and many grow up without coresident parents. Although children are clearly affected by adult labor migration, they have tended to be ignored in the migration discourse. In this study, we add to the literature by showing how a child lens advances our understanding of the complexities of household arrangements and migration processes for families. In a mixed-methods study, we use nationally representative panel data to describe persistence, and also change, in migration patterns in South Africa when viewed from the perspective of children. We then draw on a detailed case study to explore what factors constrain or permit families to migrate together, or children to join adults at migration destination areas.</p></abstract>ARTICLE2019-08-14T00:00:00.000+00:00Diaspora Externalitieshttps://sciendo.com/article/10.2478/izajodm-2019-0005<abstract><title style='display:none'>Abstract</title><p>This review article surveys the recent economic literature on diaspora networks, globalization, and development. Diasporas are shown to contribute to the economic and cultural integration of source (i.e., developing) countries into the global economy. I first review the effect of diaspora networks on core globalization outcomes such as trade, foreign investments, and the diffusion of knowledge and technology across borders. I then turn to the cultural and political sway of the diaspora, investigating the impact of emigration on the formation of political attitudes, fertility behavior, and other aspects of culture in the home country.</p></abstract>ARTICLE2019-08-27T00:00:00.000+00:00Labor Migration in Indonesia and the Health of Children Left Behindhttps://sciendo.com/article/10.2478/izajodm-2019-0006<abstract><title style='display:none'>Abstract</title><p>Economic research on labor migration in the developing world has traditionally focused on the role played by the remittances of overseas migrant labor in the sending country’s economy. Recently, due in no small part to the availability of rich microdata, more attention has been paid to the effects of migration on the lives of family members left behind. This paper examines how the temporary migration of parents for work affects the health outcomes of children left behind using the longitudinal data obtained from the Indonesia Family Life Survey. The anthropometric measure of the child health used, height-for-age, serves as a proxy for stunting. The evidence suggests that whether parental migration is beneficial or deleterious to the child health depends on which parent moved. In particular, migration of the mother has an adverse effect on the child’s height-for-age, reducing height-for-age Z-score by 0.5 standard deviations. This effect is not seen on the migration of the father.</p></abstract>ARTICLE2019-09-08T00:00:00.000+00:00Historical Definition and Theorectial Background of Usury Loan Provisionshttps://sciendo.com/article/10.2478/fiqf-2021-0004<abstract> <title style='display:none'>Abstract</title> <p>The thesis deals with usury and illegal lenders both on the domestic scene and abroad. The usury itself is defined by its characteristics, by adjudication and by historical connotations. The historical definition begins in Mesopotamia and ancient Rome, basically since the emergence of money. The aim of the paper is a comprehensive overview of usury, which from the legal perspective is not precisely defined as a term and the thesis tries to find such a definition with the help of case law and interpretation. The characteristics of usury that are described in the thesis are distress, the presence of a weaker party, mental weakness, and a gross disparity of performance. The thesis also describes the history of loan sharks and usury in the United States, where violence plays a considerable part in the issue. The paper also deals with the social background of usury and illegal lenders in the United Kingdom and outlines possible solutions to eradicate these phenomena in financially disadvantaged communities. In the end the thesis attempts to find unifying characteristics of usury across history and said countries.</p> </abstract>ARTICLE2021-03-31T00:00:00.000+00:00Do Fiscal Transfers Foster Regional Economic Growth?https://sciendo.com/article/10.2478/fiqf-2021-0003<abstract> <title style='display:none'>Abstract</title> <p>Fiscal transfer development across the world today has been in part driven by assertions of a supposed ‘economic dividend’ linked with the devolved financial spending. There is, however, little empirical evidence to validate these assertions in Kenya. It is against this background that this study was carried out to estimate the end product of fiscal transfer on regional economic growth in Kenya using a secondary panel data set. Using the ARDL estimation technique the long -run and error correction estimates of the model were generated. The findings revealed that increased fiscal transfer in recurrent budgets accelerates regional growth, hence confirming the Keynesian hypothesis. Conversely, fiscal transfer in capital expenditure was insignificant. This study recommends the need for policymakers to put in place policies and strategies that will improve budget allocation and execution in capital budgets so as to improve physical infrastructure and thus boost private productivity and consequently regional income growth.</p> </abstract>ARTICLE2021-03-31T00:00:00.000+00:00The Impact of Dieselgate on the Required Rate of Return on Equity of VW, BMW and Daimlerhttps://sciendo.com/article/10.2478/fiqf-2021-0002<abstract> <title style='display:none'>Abstract</title> <p>Our paper studies the impacts of the Dieselgate scandal on the required rate of return on equity investments into VW, Daimler, and BMW. The object of investigation is the beta coefficient that determines the risk premium in the Capital Asset Pricing Model (CAPM). Our research takes a deep dive into the developments from the turning point of the scandal (the EPA NOTICE 2015) on September 18, 2015 – when a Notice of Violation of the Clean Air Act was issued to Volkswagen by the EPA – to the end of February 2016. This period also covers FORMAL COMMENCEMENT 2016, when the U.S. Department of Justice first sued Volkswagen on behalf of the EPA. The spillover (contagion) effect of fraudulent practices of VW impacted BMW, Daimler and other companies in the industry that share a similar business model and market segment. Our research of historical market betas has not confirmed the expectation that in the context of the Dieselgate scandal the return required on equity investments into VW, Daimler, and BMW would soar. The Dieselgate scandal proves that the reliability of beta estimates is an inverse function of market volatility. Historical market beta is, therefore, not a good estimate of the required rate of return for the companies in question.</p> </abstract>ARTICLE2021-03-31T00:00:00.000+00:00Digital Finance, Green Finance and Social Finance: Is thera a Link?https://sciendo.com/article/10.2478/fiqf-2021-0001<abstract> <title style='display:none'>Abstract</title> <p>Identifying the intersection between digital finance, green finance and social finance is important for promoting sustainable financial, social and environmental development. This paper suggests a link between digital finance, green finance and social finance. Using a simple conceptual model, I show that digital finance offers a smooth, efficient and seamless channel for individuals and corporations to fund social projects that deliver a social dividend, and green projects lead to a sustainable environment. The implication is that digital finance is both an enabler and a channel for efficient green financing and social financing.</p> </abstract>ARTICLE2021-03-31T00:00:00.000+00:00Application of Predictive Methods to Financial Data Setshttps://sciendo.com/article/10.2478/fiqf-2021-0006<abstract> <title style='display:none'>Abstract</title> <p>Financial data sets are growing too fast and need to be analyzed. Data science has many different techniques to store and summarize, mining, running simulations and finally analyzing them. Among data science methods, predictive methods play a critical role in analyzing financial data sets. In the current paper, applications of 22 methods classified in four categories namely data mining and machine learning, numerical analysis, operation research techniques and meta-heuristic techniques, in financial data sets are studied. To this end, first, literature reviews on these methods are given. For each method, a data analysis case (as an illustrative example) is presented and the problem is analyzed with the mentioned method. An actual case is given to apply those methods to solve the problem and to choose a better one. Finally, a conclusion section is proposed.</p> </abstract>ARTICLE2021-03-31T00:00:00.000+00:00Comphrensive Analysis of a Company's Activity by Means of Statistical Modeling as Support for its Decision-Making Systemhttps://sciendo.com/article/10.2478/fiqf-2021-0007<abstract> <title style='display:none'>Abstract</title> <p>An important role in ensuring effective forms of management and increasing competitiveness is played by the process of forecasting the activity of the enterprise. This work analyzed the performance of a food industry enterprise, for which a wide range of statistical methods were applied such as methods of cluster, correlational and regression analysis, statistical tests of Fisher, Student, Farrar-Glauber, Durbin-Watson, Goldfeld-Quandt, μ-criterion, multifactor regression, trend, auto-regression models, and models of seasonal fluctuations, which provided a view of the economic properties of the enterprise profit process, in particular the auto-regression component of revenue dependence on its value last year, seasonal quarterly dependence on sales and marketing costs, product price, etc. The detected patterns will allow us to take into account these features for forecasting future revenues and for adjusting the enterprise’s decision-making system taking into account seasonal features and results of the previous year.</p> </abstract>ARTICLE2021-03-31T00:00:00.000+00:00en-us-1