Editorial

<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>We study the impact of several Covid-19 related supply shocks. We use a standard wage setting-price setting model of the labor market and analyze the transmission of the shocks to the natural rate of unemployment and production. In a first step, the shocks are analyzed in a general way, graphically and algebraically. In a second step, numerical examples illustrate the effects on the real wage and the labor market equilibrium as well as output. Our theoretical results indicate that the negative supply shocks related to the Covid-19 pandemic are associated with a decline in the natural level of output and employment. Our results are supported by empirical evidence across various countries. However, limitations of the theoretical model can be considerable.</p>
</abstract>

Labor market effects of COVID-19 shocks

<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The aim of the study is to examine the impact of financial constraints and financial distress on cash holdings, both in normal and crisis times. We collected the 4,406 firm-year observations of companies listed on the Warsaw Stock Exchange (WSE). Our research shows that companies maintain higher cash holdings during a crisis than in a normal period. However, in contrast to our expectations, companies with financial difficulties (constraints and distress) have lower cash holdings both in normal and crisis times. The originality of our research lies in realizing that different sources of difficulties might overlap at the same time (external with internal). We also analyze how cash holdings react to a combined impact of difficulties of different natures (external and internal). We believe that cash holdings have recently increased their meaning as we face the situation of constant and increasing uncertainty: still ongoing COVID-19 crisis prolonged with Russian aggression on Ukraine and outburst of inflation.</p>
</abstract>

Impact of financial constraints and financial distress on cash holdings

<abstract xmlns="http://www.w3.org/1999/xhtml">

<sec>
<h3>Paper’s objectives</h3>
<p>The main purpose of the article was to identify the level of concentration on the market of audit services provided to public companies listed on the Warsaw Stock Exchange. The additional aim of the article was to identify the level of rotation among companies providing audit services to public companies listed on the Warsaw Stock Exchange.</p>
</sec>
<sec>
<h3>Methods applied</h3>
<p>The research conclusions were formulated based on the analysis of 3,960 annual reports prepared in the years between 2011 and 2019 by companies listed on the Warsaw Stock Exchange.</p>
</sec>
<sec>
<h3>Findings</h3>
<p>The study found that over the years from 2011 to 2016 the concentration (measured by BIG4, CR<sub>4</sub>, CR<sub>8</sub>, and 10KAP indicators) on the market of auditing services provided to public companies increased. However, as of 2017, this concentration began to decline. This demonstrates the effectiveness of the new regulations on the audit market. In the analyzed period, eight audit firms, referred to in the article as “leading”, provided their services to an average of >62% of public companies. Their share in the market of auditing services varied from sector to sector. At the turn of 2016 and of 2017, a significant increase in the level of rotation on the market of audit services provided to public companies was observed. This level varied from sector to sector.</p>
</sec>
<sec>
<h3>Originality/value</h3>
<p>The literature on the subject has not yet presented a comprehensive analysis of the impact of EU directives on the structure of the Polish market of audit services provided to public companies. This issue is a research gap, which has been filled in this article.</p>
</sec>
</abstract>

Concentration on the market of audit services provided to publicly listed companies: Evidence from Poland

<abstract xmlns="http://www.w3.org/1999/xhtml">

<sec>
<h3>Paper’s objectives</h3>
<p>The purpose of this paper is to examine the ways in which to neutralize the country-of-origin (COO) effect (COE) in the emerging market of firms’ international branding.</p>
</sec>
<sec>
<h3>Design/methods applied/approach used</h3>
<p>A multiple-case study of five companies from European and Asian emerging markets – owners of household appliances brands, with data sourced from in-depth interviews and secondary sources.</p>
</sec>
<sec>
<h3>Findings</h3>
<p>Companies from emerging markets neutralize the genuine COO in their international branding in various ways, for example, by applying brand or sub-brand names that do not refer to the genuine country-of-brand-origin, using slogans in foreign languages or establishing brand alliances with partners from developed countries.</p>
</sec>
<sec>
<h3>Originality/value</h3>
<p>This study offers original insights fostering a better understanding of international branding strategies applied by emerging market companies by identifying the ways they neutralize the COE both at the brand concept level and brand marketing communication tools.</p>
</sec>
</abstract>

Ways to neutralize the country-of-origin effect in the emerging market firms international branding<xref ref-type="fn" rid="j_ijme-2022-0027_fn_001"><sup>1</sup></xref>

<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The study aims at presenting the specificity of the economy and merchandise trade of unrecognized entities in the Caucasus region, with a particular focus on Abkhazia and South Ossetia. The study also analyses the potential changes in merchandise trade structure and volume. The empirical analysis covers the period between 2015 and 2020. The conducted study has revealed that over the last years, Abkhazia and South Ossetia have improved their economic condition, increasing industrial production, developing services, and maintaining trade exchange with other states. However, as the outcomes of the gravity model of trade indicate, both unrecognized entities do not fully utilize its trade potential, especially with Georgia, Russia, and Turkey. Hence legitimizing trade between Abkhazia and South Ossetia may bring economic benefits not only for both entities but also for other countries, especially their immediate neighbors.</p>
</abstract>

Merchandise trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia

<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The COVID-19 pandemic has caused great turbulence in global financial markets. The first goal of this conceptual paper is to explore whether managers of companies listed on the Warsaw Stock Exchange are susceptible to selected behavioral biases related to irrational risk preferences. We also seek to investigate whether susceptibility to these errors may affect selected management practices in the areas of corporate risk management and investment policy. The second major goal of our project is to identify whether there is a link at the micro level, that is, between the aforementioned irrational management practices resulting from susceptibility to behavioral biases and the macro level (i.e., certain macroeconomic indicators, such as aggregate investment, employment, and growth). We hope that our research project will contribute to shifting the paradigm of economics in such a way that the behavioral approach will be increasingly used and acknowledged by researchers.</p>
</abstract>

Behavioral biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland

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International Journal of Management and Economics

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International Journal of Management and Economics

Volume 59 (2023): Issue 1 (March 2023)

Editorial

Labor market effects of COVID-19 shocks

Impact of financial constraints and financial distress on cash holdings

Concentration on the market of audit services provided to publicly listed companies: Evidence from Poland

Ways to neutralize the country-of-origin effect in the emerging market firms international branding¹

Merchandise trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia

Behavioral biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland

Wyszukiwanie

Wszystkie tomy i zeszyty w tym czasopiśmie

International Journal of Management and Economics

Volume 59 (2023): Issue 1 (March 2023)

Editorial

Labor market effects of COVID-19 shocks

Impact of financial constraints and financial distress on cash holdings

Concentration on the market of audit services provided to publicly listed companies: Evidence from Poland

Ways to neutralize the country-of-origin effect in the emerging market firms international branding1

Merchandise trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia

Behavioral biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland

Wyszukiwanie

Wszystkie tomy i zeszyty w tym czasopiśmie

Ways to neutralize the country-of-origin effect in the emerging market firms international branding¹