Abstract This study employs Autoregressive Distributed Lag (ARDL) bounds testing approach to co-integration and Granger causality technique to empirically examines the nature of relationship between infant mortality and public expenditure on health in Nigeria from 1980 – 2016. In addition, the study considers the roles of immunization, private health expenditure and external health resources on infant mortality in Nigeria. Among other things, the empirical results indicate the presence of significant conintegrating (long-run) relationship between infant mortality and government health expenditure (and private health expenditure, immunization and external health resources), coupled with the existence of bi-directional causal relationship between infant mortality and government health expenditure. In addition, the results also demonstrate that, government health expenditure, private health expenditure, immunization, and external health resources significantly influence infant mortality negatively both in the long and short term. Although, private health spending is shown as the major determinant of the reduction of infant mortality rate in Nigeria, due to the size of the coefficient of private health expenditure. In essence, the total overhaul of the Nigerian health sector, so as to improve the efficiency of the sector, as well curb the incidents of fund mismanagement which has plagued the sector overtime, coupled with the intensifying of immunization programs and activities are however recommended.
{"title":"Infant Mortality and Public Health Expenditure in Nigeria: Empirical Explanation of the Nexus","authors":"J. David","doi":"10.2478/tjeb-2018-0010","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0010","url":null,"abstract":"Abstract This study employs Autoregressive Distributed Lag (ARDL) bounds testing approach to co-integration and Granger causality technique to empirically examines the nature of relationship between infant mortality and public expenditure on health in Nigeria from 1980 – 2016. In addition, the study considers the roles of immunization, private health expenditure and external health resources on infant mortality in Nigeria. Among other things, the empirical results indicate the presence of significant conintegrating (long-run) relationship between infant mortality and government health expenditure (and private health expenditure, immunization and external health resources), coupled with the existence of bi-directional causal relationship between infant mortality and government health expenditure. In addition, the results also demonstrate that, government health expenditure, private health expenditure, immunization, and external health resources significantly influence infant mortality negatively both in the long and short term. Although, private health spending is shown as the major determinant of the reduction of infant mortality rate in Nigeria, due to the size of the coefficient of private health expenditure. In essence, the total overhaul of the Nigerian health sector, so as to improve the efficiency of the sector, as well curb the incidents of fund mismanagement which has plagued the sector overtime, coupled with the intensifying of immunization programs and activities are however recommended.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"149 - 164"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47949702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Trading and investment on financial markets are common activities today. A very high number of investors, companies, public or private funds are buying and selling every day with a single purpose: the profit. The common questions for any market participant are: when to buy, when to sell and when is better to stay away from the market risk. In order to answer all these questions, many trading strategies are used to establish the best moments to entry or to exit the trades. Due to the large price volatility, a significant part of the trades is set up automatically today by computers using algorithmic trading procedures. For this particular field, special aspects must be met in order to automate the trading process. This paper presents one of these mathematical models used in automated trading systems, a method based on the Fisher transform. A general form of this method will be presented, the functional parameters and the way to optimize them in order to reduce the risk. It will be also suggested a method to build reliable trading signals with the Fisher function in order to be automated. Three different trading signal types will be explained together with the significance of the functional parameters in the price field. A code sample will be included in this paper to prove the simplicity of this method. Real results obtained with the Fisher trading signals will be also presented, compared and analyzed in order to show how this method can be implemented in algorithmic trading.
{"title":"Reliable Signals Based on Fisher Transform for Algorithmic Trading","authors":"Cristian Păuna","doi":"10.2478/tjeb-2018-0006","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0006","url":null,"abstract":"Abstract Trading and investment on financial markets are common activities today. A very high number of investors, companies, public or private funds are buying and selling every day with a single purpose: the profit. The common questions for any market participant are: when to buy, when to sell and when is better to stay away from the market risk. In order to answer all these questions, many trading strategies are used to establish the best moments to entry or to exit the trades. Due to the large price volatility, a significant part of the trades is set up automatically today by computers using algorithmic trading procedures. For this particular field, special aspects must be met in order to automate the trading process. This paper presents one of these mathematical models used in automated trading systems, a method based on the Fisher transform. A general form of this method will be presented, the functional parameters and the way to optimize them in order to reduce the risk. It will be also suggested a method to build reliable trading signals with the Fisher function in order to be automated. Three different trading signal types will be explained together with the significance of the functional parameters in the price field. A code sample will be included in this paper to prove the simplicity of this method. Real results obtained with the Fisher trading signals will be also presented, compared and analyzed in order to show how this method can be implemented in algorithmic trading.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"102 - 87"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46365073","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The purpose of this article is to study the social aspects of viral advertising, including differences related to social influencers analyzed in the Consumer Socialization Theory, such as family, the tie strength element from the Social Network Theory, as well as maven characteristics. The study uses a survey distributed to a national consumer sample from the U.S., that is analyzed in a multivariate regression procedure. The analysis shows the importance of social factors for consumers’ viral intentions, integrating the socialization theory and market maven theory in the viral research. The results support a positive relationship between consumers’ socialization and communication related to advertising with their family and their viral intentions, showing that reference groups are important for viral advertising. This underlines the effect that the close interpersonal circle has on consumers’ involvement in viral communication. The statistical analysis also found a psychosocial characteristic, such as consumers’ market maven traits, to be positively related to viral intentions. Attitude toward the ad is also a significant influencer of viral intentions, as expected, showing that a positive impression about the ad is positively related to its viral potential. Overall, different social factors are found to be essential antecedents of viral ads, and future research can further focus on this topic, to create a social profile of consumers prone to participate in viral advertising.
{"title":"The Effect of Socialization and Maven Characteristics on Viral Advertising","authors":"Maria Petrescu","doi":"10.2478/tjeb-2018-0001","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0001","url":null,"abstract":"Abstract The purpose of this article is to study the social aspects of viral advertising, including differences related to social influencers analyzed in the Consumer Socialization Theory, such as family, the tie strength element from the Social Network Theory, as well as maven characteristics. The study uses a survey distributed to a national consumer sample from the U.S., that is analyzed in a multivariate regression procedure. The analysis shows the importance of social factors for consumers’ viral intentions, integrating the socialization theory and market maven theory in the viral research. The results support a positive relationship between consumers’ socialization and communication related to advertising with their family and their viral intentions, showing that reference groups are important for viral advertising. This underlines the effect that the close interpersonal circle has on consumers’ involvement in viral communication. The statistical analysis also found a psychosocial characteristic, such as consumers’ market maven traits, to be positively related to viral intentions. Attitude toward the ad is also a significant influencer of viral intentions, as expected, showing that a positive impression about the ad is positively related to its viral potential. Overall, different social factors are found to be essential antecedents of viral ads, and future research can further focus on this topic, to create a social profile of consumers prone to participate in viral advertising.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"1 - 20"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48701704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper examines to what extent export concentration can be tailored towards promoting economic growth in Nigeria. A deeper understanding of the interrelationship among various sectorial units, as well as the investment channel that better stimulates the economy is the thrust of this paper. As a consequence, the study wants to answer to the question whether it “is there any linkage between export concentration, and various sectorial output share (agricultural, manufacturing, and service sector) on growth performance?”. The methodology we made use of is a Vector Autoregressive (VAR) model for the various sectoral analysis of export concentration in Nigeria. The estimated results show that export concentration has an important role to play in driving economic growth and that this role emanates from the Agricultural and manufacturing sectoral channels. These channels account for about 93 percent and over 3 percent respectively of the total variation of export concentration contribution to economic growth. The result also indicates that one standard deviation shock to export concentration results in a peak on agricultural sector quarterly after shock. As a result, the study recommends that government ought to make available incentive to the agricultural sector to further enhance the contribution of the sector to the economic growth in the Nigeria economy.
{"title":"Export Concentration and Sectorial Performance: A Re-Examination of the Empirical Evidence","authors":"O. Shobande","doi":"10.2478/tjeb-2018-0003","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0003","url":null,"abstract":"Abstract This paper examines to what extent export concentration can be tailored towards promoting economic growth in Nigeria. A deeper understanding of the interrelationship among various sectorial units, as well as the investment channel that better stimulates the economy is the thrust of this paper. As a consequence, the study wants to answer to the question whether it “is there any linkage between export concentration, and various sectorial output share (agricultural, manufacturing, and service sector) on growth performance?”. The methodology we made use of is a Vector Autoregressive (VAR) model for the various sectoral analysis of export concentration in Nigeria. The estimated results show that export concentration has an important role to play in driving economic growth and that this role emanates from the Agricultural and manufacturing sectoral channels. These channels account for about 93 percent and over 3 percent respectively of the total variation of export concentration contribution to economic growth. The result also indicates that one standard deviation shock to export concentration results in a peak on agricultural sector quarterly after shock. As a result, the study recommends that government ought to make available incentive to the agricultural sector to further enhance the contribution of the sector to the economic growth in the Nigeria economy.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"39 - 54"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45823884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The aim of this paper is to present and analyze a market through a nonlinear deterministic model. A firm launches a new product and devotes a fixed proportion of sales to advertising, while customers go through a three stage adoption process with some delay on the effect of advertisement. The mathematical model is described by three nonlinear differential equations with time delay, where the word-of-mouth and advertising effectiveness are taken into account. The variables consist of the number of non-adopters (unaware of the existence of the product or the number of people who have not repurchased it), the number of thinkers (the number of people who know about the product, but they have not yet purchased it) and the number of adopters (the number of people who have purchased the product). The time delays are introduced in both purchase decisions of the thinkers and repurchase decisions of the adopters as well. The positive equilibrium point is determined and the conditions for the asymptotic stability are provided, when there is no delay. When the delay is taken as bifurcation parameter the conditions for the existence of a Hopf bifurcation are given. The critical value of the delay is found where the asymptotic stability is lost. Numerical simulations and conclusions can be found in the last part of the paper.
{"title":"The Deterministic Model With Time Delay for a New Product Diffusion in a Market","authors":"N. Sîrghi, M. Neamţu, G. Mircea, D. Rămescu","doi":"10.2478/tjeb-2018-0004","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0004","url":null,"abstract":"Abstract The aim of this paper is to present and analyze a market through a nonlinear deterministic model. A firm launches a new product and devotes a fixed proportion of sales to advertising, while customers go through a three stage adoption process with some delay on the effect of advertisement. The mathematical model is described by three nonlinear differential equations with time delay, where the word-of-mouth and advertising effectiveness are taken into account. The variables consist of the number of non-adopters (unaware of the existence of the product or the number of people who have not repurchased it), the number of thinkers (the number of people who know about the product, but they have not yet purchased it) and the number of adopters (the number of people who have purchased the product). The time delays are introduced in both purchase decisions of the thinkers and repurchase decisions of the adopters as well. The positive equilibrium point is determined and the conditions for the asymptotic stability are provided, when there is no delay. When the delay is taken as bifurcation parameter the conditions for the existence of a Hopf bifurcation are given. The critical value of the delay is found where the asymptotic stability is lost. Numerical simulations and conclusions can be found in the last part of the paper.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"55 - 66"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46231784","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The sharp and continuous decline in crude oil prices since the mid-2014, along with the lackluster efforts at diversifying the sources of revenue and foreign exchange in the economy, incontrovertibly led to the recession that greeted Nigeria in the second quarter of 2016 as manifested by fiscal crisis. Hence this study examines the imperative of economic diversification in trade and industrial policies in Nigeria. In order to characterize the pattern of trade and industrial transformation in the diversification process, we adopted the augmented version of Kaldor’s first law which establishes a link between manufacturing output and economic growth. Based on annualized secondary time series, spanning from 1970 to 2015, obtained from the CBN statistical bulletin of various years, the study employed the contemporary econometric techniques of cointegration and error correction mechanism, within the framework of the Autoregressive Distributed Lag (ARDL) model as proposed by Pesaran et al (2001) in achieving its objective. The results show that manufacturing output, crude petroleum and natural gas production, as well as mining production have significant positive longrun impact on economic growth in Nigeria. This implies that economic diversification-based industrial policies will definitely bring about the desired economic outcomes in Nigeria. We therefore conclude that trade and industrial policies should be geared towards diversification of the economy.
{"title":"Economic Diversification: Imperative for Trade and Industrial Policies in Nigeria","authors":"Chekwube Vitus Madichie, Festus Osagu, E. A. Eze","doi":"10.2478/tjeb-2018-0005","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0005","url":null,"abstract":"Abstract The sharp and continuous decline in crude oil prices since the mid-2014, along with the lackluster efforts at diversifying the sources of revenue and foreign exchange in the economy, incontrovertibly led to the recession that greeted Nigeria in the second quarter of 2016 as manifested by fiscal crisis. Hence this study examines the imperative of economic diversification in trade and industrial policies in Nigeria. In order to characterize the pattern of trade and industrial transformation in the diversification process, we adopted the augmented version of Kaldor’s first law which establishes a link between manufacturing output and economic growth. Based on annualized secondary time series, spanning from 1970 to 2015, obtained from the CBN statistical bulletin of various years, the study employed the contemporary econometric techniques of cointegration and error correction mechanism, within the framework of the Autoregressive Distributed Lag (ARDL) model as proposed by Pesaran et al (2001) in achieving its objective. The results show that manufacturing output, crude petroleum and natural gas production, as well as mining production have significant positive longrun impact on economic growth in Nigeria. This implies that economic diversification-based industrial policies will definitely bring about the desired economic outcomes in Nigeria. We therefore conclude that trade and industrial policies should be geared towards diversification of the economy.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"67 - 86"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47591590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper discusses whether the social dependency mentality in Romania is a consequence of path (past) dependence (that is, the country’s cultural and historical inheritance), or of the failure of social protection policies implemented after 1990. By taking a deductive approach and using data from Eurobarometers and several international databases, as well as by conducting several statistical analyses, we first identify the socio-economic and institutional factors associated with social dependency mentality in former communist countries, today members of the EU. Drawing on the results obtained, we then characterize the situation in Romania and provide explanations on two levels: dependence mentality as cultural inheritance - hypothesis supported by sociological, psychological and cultural-anthropological studies - and dependence mentality as a consequence of the implemented social protection policies which did not solve the issue of poverty but rather speak about incoherence, lack of vision, populism etc. We conclude that social dependency mentality is associated with the burden of the past, but also with the level and quality of education and the government strength to implement policies and provide incentives for individual responsibility in a free market. The limitations in terms of data coverage do not allow us to establish the exact weight each of the factors has in explaining social dependency mentality and, consequently, further studies are necessary considering the importance this issue currently has in poverty reduction.
{"title":"Social Dependency Mentality in Romania – Consequence of Path Dependence or Result of Social Protection Policies?","authors":"Andreea-Oana Iacobuță, G. Mursa","doi":"10.2478/tjeb-2018-0002","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0002","url":null,"abstract":"Abstract This paper discusses whether the social dependency mentality in Romania is a consequence of path (past) dependence (that is, the country’s cultural and historical inheritance), or of the failure of social protection policies implemented after 1990. By taking a deductive approach and using data from Eurobarometers and several international databases, as well as by conducting several statistical analyses, we first identify the socio-economic and institutional factors associated with social dependency mentality in former communist countries, today members of the EU. Drawing on the results obtained, we then characterize the situation in Romania and provide explanations on two levels: dependence mentality as cultural inheritance - hypothesis supported by sociological, psychological and cultural-anthropological studies - and dependence mentality as a consequence of the implemented social protection policies which did not solve the issue of poverty but rather speak about incoherence, lack of vision, populism etc. We conclude that social dependency mentality is associated with the burden of the past, but also with the level and quality of education and the government strength to implement policies and provide incentives for individual responsibility in a free market. The limitations in terms of data coverage do not allow us to establish the exact weight each of the factors has in explaining social dependency mentality and, consequently, further studies are necessary considering the importance this issue currently has in poverty reduction.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"21 - 38"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43755020","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Over the years, there has been a growing interest in ERP systems - in our SAP case. These IT systems have come up with a number of novelties in terms of unifying IT and business processes. This created the premise of essential changes in data management, sorting them across multiple categories, reporting them now much faster. In the case of this article, we have transformed the ideas from the business environment into an application meant to serve the accountants in terms of monitoring and reporting their activity to their superior level. Key performance indicators (KPIs) have been defined by the business environment according to the purpose for which they were created. This required a differentiation on skill levels, so that the results were conclusive and helped the business to manage the activity he was responsible for. We wanted to provide a complete framework for KPI management in the economic organization level by developing this application – Z-KPI tool, the results being useful to the heads of department in order to well manage their work, so that the targets assumed at the beginning of the year to be achieved. The entire application was developed in SAP system, using the latest technology - ABAP WebDynpro. The software application is now in production and the degree of use is high, because the SAP system is the core system in the company for which this case study was performed.
{"title":"Adoption of a KPI Solution for Accounting Area Inside Sap System. An Oil and Gas Company Case Study","authors":"V. Banţa","doi":"10.2478/tjeb-2018-0007","DOIUrl":"https://doi.org/10.2478/tjeb-2018-0007","url":null,"abstract":"Abstract Over the years, there has been a growing interest in ERP systems - in our SAP case. These IT systems have come up with a number of novelties in terms of unifying IT and business processes. This created the premise of essential changes in data management, sorting them across multiple categories, reporting them now much faster. In the case of this article, we have transformed the ideas from the business environment into an application meant to serve the accountants in terms of monitoring and reporting their activity to their superior level. Key performance indicators (KPIs) have been defined by the business environment according to the purpose for which they were created. This required a differentiation on skill levels, so that the results were conclusive and helped the business to manage the activity he was responsible for. We wanted to provide a complete framework for KPI management in the economic organization level by developing this application – Z-KPI tool, the results being useful to the heads of department in order to well manage their work, so that the targets assumed at the beginning of the year to be achieved. The entire application was developed in SAP system, using the latest technology - ABAP WebDynpro. The software application is now in production and the degree of use is high, because the SAP system is the core system in the company for which this case study was performed.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"11 1","pages":"103 - 120"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48053419","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract It is recognized that multinational corporations (MNC) have played a significant role in the recent worldwide accounting reform. This study analyses the influence of foreign ownership, and MNC on financial disclosure practices of listed companies from Central and Eastern European countries (CEE). The possible reverse effect is also considered, and thus, the role of disclosure in attracting foreign investments is investigated. Fixed effects panel analysis has been conducted for 2005-2015 period, in the context of partial IFRS adoption in CEE. Contrary to hypothesized expectations, the influence of foreign ownership on the extent of disclosure is negative. As foreign investors in CEE are dominantly corporations, it seems they impose their own reporting policies or report detailed group information, which may diminish the disclosure of foreign subsidiaries. Moreover, it was found that foreign investors are not sensitive to changes of items in reported information. This evidence raises questions regarding the purpose, and the impact of disclosure on financial markets. Overall, this study gives a signal to standard-setters about reporting practices at regional level, and adds an original empirical contribution to reporting behavior and corporate transparency literature. Moreover, it invites to further research on reporting practices of companies with foreign ownership.
{"title":"Foreign Ownership and Financial Disclosure in Central and Eastern Europe","authors":"Alina Țaran, R. M. Ammar Zahid, M. Mironiuc","doi":"10.1515/tjeb-2017-0010","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0010","url":null,"abstract":"Abstract It is recognized that multinational corporations (MNC) have played a significant role in the recent worldwide accounting reform. This study analyses the influence of foreign ownership, and MNC on financial disclosure practices of listed companies from Central and Eastern European countries (CEE). The possible reverse effect is also considered, and thus, the role of disclosure in attracting foreign investments is investigated. Fixed effects panel analysis has been conducted for 2005-2015 period, in the context of partial IFRS adoption in CEE. Contrary to hypothesized expectations, the influence of foreign ownership on the extent of disclosure is negative. As foreign investors in CEE are dominantly corporations, it seems they impose their own reporting policies or report detailed group information, which may diminish the disclosure of foreign subsidiaries. Moreover, it was found that foreign investors are not sensitive to changes of items in reported information. This evidence raises questions regarding the purpose, and the impact of disclosure on financial markets. Overall, this study gives a signal to standard-setters about reporting practices at regional level, and adds an original empirical contribution to reporting behavior and corporate transparency literature. Moreover, it invites to further research on reporting practices of companies with foreign ownership.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"151 - 168"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49087624","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Nowadays, we are witnessing a serious gain in popularity of the wearable smart things. A triumphalist language referring to their benefits can be noticed in mass media, revealing the hype in their adoption. Multiple advantages are perceived by the consumers, and work as positive drivers in the wearables market. Yet, there is little awareness regarding their privacy and security – such concerns are constantly expressed by academia, but usually ignored by buyers and manufacturers. Therefore, the purpose of this paper is to provide some preliminary insights into how do the users perceive vulnerabilities as interferences, frequent disconnections, hardware and software malfunctions, improper/difficult configuration etc. of hand worn devices. The analysis was realized by means of netnography, using emag.ro, the oldest and largest ecommerce site in Romania as online source. Inspired by a similar study conducted by (Genaro Motti & Caine, 2016), we selected and reviewed 931 comments posted by the buyers of the ten most popular smart watches, in order to identify the hardware, software and connectivity problems they faced while using the devices and to assess the awareness of the buyers to security and privacy issues. Also, an overview of the privacy and security policies published by selected smart watches’ manufactures was made, and some conclusion regarding the recommended future actions for wearable buyers, sellers and manufacturers were presented.
{"title":"A User Perspective on the Vulnerabilities of Smart Watches: Is Security a Concern?","authors":"D. Popescul, M. Georgescu","doi":"10.1515/tjeb-2017-0009","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0009","url":null,"abstract":"Abstract Nowadays, we are witnessing a serious gain in popularity of the wearable smart things. A triumphalist language referring to their benefits can be noticed in mass media, revealing the hype in their adoption. Multiple advantages are perceived by the consumers, and work as positive drivers in the wearables market. Yet, there is little awareness regarding their privacy and security – such concerns are constantly expressed by academia, but usually ignored by buyers and manufacturers. Therefore, the purpose of this paper is to provide some preliminary insights into how do the users perceive vulnerabilities as interferences, frequent disconnections, hardware and software malfunctions, improper/difficult configuration etc. of hand worn devices. The analysis was realized by means of netnography, using emag.ro, the oldest and largest ecommerce site in Romania as online source. Inspired by a similar study conducted by (Genaro Motti & Caine, 2016), we selected and reviewed 931 comments posted by the buyers of the ten most popular smart watches, in order to identify the hardware, software and connectivity problems they faced while using the devices and to assess the awareness of the buyers to security and privacy issues. Also, an overview of the privacy and security policies published by selected smart watches’ manufactures was made, and some conclusion regarding the recommended future actions for wearable buyers, sellers and manufacturers were presented.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"135 - 150"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42160476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：