Elvira Pacheco Vieira, Ana Pinto Borges, Ana Maria Reis
In this paper, we assess the determinants of the main tourist expenses in a city (accommodation, meals, culture/leisure and global) considering the socio-demographic profile of the tourist, the length of stay, and satisfaction with visiting the city. Additionally, the main novelty of this study is the evaluation of the destination’s accessibility concerning people with special needs as a determinant of tourist expenses. Microdata was collected by a survey addressed to tourists (national and international) who visited the city of Porto. Tobit regressions were applied to explain the main tourist expenses. The results show the perception of the level of accessibility presents a relevant result in the various models. With this paper, we intend to contribute to the literature and support the different stakeholders in defining tourist attraction and loyalty strategies.
{"title":"MICRO-ECONOMIC FACTORS OF TOURIST EXPENDITURE: THE ROLE OF ACCESSIBILITY IN THE CITY OF PORTO","authors":"Elvira Pacheco Vieira, Ana Pinto Borges, Ana Maria Reis","doi":"10.3846/bm.2023.1041","DOIUrl":"https://doi.org/10.3846/bm.2023.1041","url":null,"abstract":"In this paper, we assess the determinants of the main tourist expenses in a city (accommodation, meals, culture/leisure and global) considering the socio-demographic profile of the tourist, the length of stay, and satisfaction with visiting the city. Additionally, the main novelty of this study is the evaluation of the destination’s accessibility concerning people with special needs as a determinant of tourist expenses. Microdata was collected by a survey addressed to tourists (national and international) who visited the city of Porto. Tobit regressions were applied to explain the main tourist expenses. The results show the perception of the level of accessibility presents a relevant result in the various models. With this paper, we intend to contribute to the literature and support the different stakeholders in defining tourist attraction and loyalty strategies.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125483463","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}
N. Abesadze, Otar Abesadze, R. Kinkladze, Nino Paresashvili
Mass emigration from Georgia began after the collapse of the Soviet Union. 30 years have passed since then but emigration in the country is still an actual problem. The purpose of the research is to reveal the statistical trends of emigration in Georgia, against the background of comparative analysis of emigration and remittances. In the research process statistical methods: observation, grouping and analysis were used. Results. In 2020, the number of Georgian emigrants abroad amounted to 74,264 people. The largest part of Georgian emigrants is in Russia, Greece, Ukraine, India, Azerbaijan and Armenia. The age of most immigrants is between 20–35 years. The largest number of immigrants is recorded in the Imereti region; Along with the increase in emigration, the number of remittances received from abroad also increases, the demographic situation is worsening, and unemployment rates are high.
{"title":"EMIGRATION STATISTICS – THE HERALD OF THE SURVIVAL OF THE POPULATION OF GEORGIA OR THE DEMOGRAPHIC CRISIS","authors":"N. Abesadze, Otar Abesadze, R. Kinkladze, Nino Paresashvili","doi":"10.3846/bm.2023.945","DOIUrl":"https://doi.org/10.3846/bm.2023.945","url":null,"abstract":"Mass emigration from Georgia began after the collapse of the Soviet Union. 30 years have passed since then but emigration in the country is still an actual problem. The purpose of the research is to reveal the statistical trends of emigration in Georgia, against the background of comparative analysis of emigration and remittances. In the research process statistical methods: observation, grouping and analysis were used. Results. In 2020, the number of Georgian emigrants abroad amounted to 74,264 people. The largest part of Georgian emigrants is in Russia, Greece, Ukraine, India, Azerbaijan and Armenia. The age of most immigrants is between 20–35 years. The largest number of immigrants is recorded in the Imereti region; Along with the increase in emigration, the number of remittances received from abroad also increases, the demographic situation is worsening, and unemployment rates are high.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134266883","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}
The aim of the study is to investigate the behaviour of the Chinese government bond yield curve before and during the COVID-19 pandemic. Its methodology comprises the techniques of time series analysis, correlation analysis and dimensionality reduction. The main empirical results show that in the pandemic period, the behaviour of the Chinese government bond yield curve differs significantly from that before the outbreak of COVID-19. This is evidenced by the weaker correlations among the analysed yields, the presence of anomalies, heterogeneous behaviour and probable arbitrage opportunities at the long-term end of the studied yield curve, as well as the significant changes in the main factors of its dynamics. The research also reveals that prior to the COVID-19 pandemic, portfolios composed of Chinese government bonds could be well protected against interest rate risk even by using traditional parallel shift immunization techniques. However, after the outbreak of the COVID-19 pandemic the use of such techniques would be relatively effective for portfolios of Chinese government bonds with maturities between 1 and 5 years, while portfolios that include Chinese government bonds with maturities greater than 7 years should be either hedged against all the three factors of the yield curve dynamics or be used only for arbitrage strategies.
{"title":"THE BEHAVIOUR OF CHINESE GOVERNMENT BOND YIELD CURVE BEFORE AND DURING THE COVID-19 PANDEMIC","authors":"Alexander Petrov Ganchev","doi":"10.3846/bm.2023.1008","DOIUrl":"https://doi.org/10.3846/bm.2023.1008","url":null,"abstract":"The aim of the study is to investigate the behaviour of the Chinese government bond yield curve before and during the COVID-19 pandemic. Its methodology comprises the techniques of time series analysis, correlation analysis and dimensionality reduction. The main empirical results show that in the pandemic period, the behaviour of the Chinese government bond yield curve differs significantly from that before the outbreak of COVID-19. This is evidenced by the weaker correlations among the analysed yields, the presence of anomalies, heterogeneous behaviour and probable arbitrage opportunities at the long-term end of the studied yield curve, as well as the significant changes in the main factors of its dynamics. The research also reveals that prior to the COVID-19 pandemic, portfolios composed of Chinese government bonds could be well protected against interest rate risk even by using traditional parallel shift immunization techniques. However, after the outbreak of the COVID-19 pandemic the use of such techniques would be relatively effective for portfolios of Chinese government bonds with maturities between 1 and 5 years, while portfolios that include Chinese government bonds with maturities greater than 7 years should be either hedged against all the three factors of the yield curve dynamics or be used only for arbitrage strategies.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131876084","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}
The spread of the Covid-19 virus on all continents has caused a rapid evolution of the volatility of stock indices. To prevent and counteract the effects of this global event, researchers have tried to identify the causes, amplitude, and persistence of volatility. To measure volatility using statistical models, most authors chose the number of illnesses or deaths caused by the Covid-19 virus. However, the method of recording and reporting the number of illnesses and deaths by each state, assumed certain shortcomings reported in the literature. As an alternative, Hale et al. (2021, p. 8) proposed the Government Response Stringency Index (SI). The research proposes the determination of volatility with GARCH and VAR methods using the SI index as a variable. For this purpose, 28 countries from all continents were considered. The analysis period was March 19, 2020 to December 31, 2021. The main findings are: 1) the determination of volatility for 28 analysed countries; 2) some countries show better adaptability to the pandemic; 3) the differences between the volatility calculated with the SI index and the number of illnesses or deaths are small; 4) the links between the markets are stronger in the postcrisis period. Based on these results, comparative analyzes can be carried out between states, geographical areas and continents. Furthermore, the results allow us to appreciate other major events that affected the world capital market.
{"title":"GOVERNMENT RESPONSE STRINGENCY INDEX: AN ALTERNATIVE FOR THE VOLATILITY DETERMINING DURING PANDEMICS","authors":"O. Panazan, Cătălin Gheorghe","doi":"10.3846/bm.2023.972","DOIUrl":"https://doi.org/10.3846/bm.2023.972","url":null,"abstract":"The spread of the Covid-19 virus on all continents has caused a rapid evolution of the volatility of stock indices. To prevent and counteract the effects of this global event, researchers have tried to identify the causes, amplitude, and persistence of volatility. To measure volatility using statistical models, most authors chose the number of illnesses or deaths caused by the Covid-19 virus. However, the method of recording and reporting the number of illnesses and deaths by each state, assumed certain shortcomings reported in the literature. As an alternative, Hale et al. (2021, p. 8) proposed the Government Response Stringency Index (SI). The research proposes the determination of volatility with GARCH and VAR methods using the SI index as a variable. For this purpose, 28 countries from all continents were considered. The analysis period was March 19, 2020 to December 31, 2021. The main findings are: 1) the determination of volatility for 28 analysed countries; 2) some countries show better adaptability to the pandemic; 3) the differences between the volatility calculated with the SI index and the number of illnesses or deaths are small; 4) the links between the markets are stronger in the postcrisis period. Based on these results, comparative analyzes can be carried out between states, geographical areas and continents. Furthermore, the results allow us to appreciate other major events that affected the world capital market.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133042004","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}
Giuseppe Basile, Angelo Porcaro, P. Pazienza, Caterina De Lucia
In 2021, a massive relocation of cryptocurrency mining farms from China to Kazakhstan caused one of the largest energy crises in Asia and Europe. This work aims at an understanding of the current debate of cryptocurrency mining activities on the environment. The review highlights: 1. The existence of a positive relationship between cryptomining activities and the deterioration of environmental quality; 2. The contribution of renewable energies and blockchain algorithms to mitigate the above effects. Main results suggest the need for a supranational institution to monitor the current cryptocurrency production to complement current policies by the European Commission and United Nations.
{"title":"WHICH FACTORS CAN EXPLAIN THE CORRELATION BETWEEN CRYPTOMINING ACTIVITIES AND ENVIRONMENTAL IMPACT? A THEORETICAL ANALYSIS","authors":"Giuseppe Basile, Angelo Porcaro, P. Pazienza, Caterina De Lucia","doi":"10.3846/bm.2023.1049","DOIUrl":"https://doi.org/10.3846/bm.2023.1049","url":null,"abstract":"In 2021, a massive relocation of cryptocurrency mining farms from China to Kazakhstan caused one of the largest energy crises in Asia and Europe. This work aims at an understanding of the current debate of cryptocurrency mining activities on the environment. The review highlights: 1. The existence of a positive relationship between cryptomining activities and the deterioration of environmental quality; 2. The contribution of renewable energies and blockchain algorithms to mitigate the above effects. Main results suggest the need for a supranational institution to monitor the current cryptocurrency production to complement current policies by the European Commission and United Nations.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133354061","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}
The purpose of this article is to determine the impact of Covid-19 on aggregate labour productivity and labour productivity in different economic activity fields in European Union and to investigate the reasons of changes in labour productivity per employee in the macroeconomic level. In the article, firstly labour productivity per employee (GDP divided by the number of employed persons) in EU for the years 2013–2021 has been provided, then the results of the pandemic period have been compared with the results of the previous years. Both GDP and the number of employed persons have been decreased in 2020 compared to 2019. However, the decrease in GDP was higher than the decrease in number of employees which also means a drop in labour productivity per employee. Regarding the impact of the pandemic on labour productivity in various economic activity fields in EU, percentage changes of real labour productivity per employee in different industries in 2020 compared to 2019 show that there are substantial differences in changes which could mainly (but not only) explained by government restrictions causing business closures or working from home in some industries. For this reason, the relationship between real labour productivity per person and working from home in selected economic activity fields fitting best to the purpose and method of our analysis has been investigated and correlation coefficient has been calculated. The results confirm that working from home affected labour productivity in different economic activity fields during the pandemic.
{"title":"THE IMPACT OF THE COVID-19 PANDEMIC ON LABOUR PRODUCTIVITY IN EUROPEAN UNION","authors":"Vusala Gubatova","doi":"10.3846/bm.2023.1053","DOIUrl":"https://doi.org/10.3846/bm.2023.1053","url":null,"abstract":"The purpose of this article is to determine the impact of Covid-19 on aggregate labour productivity and labour productivity in different economic activity fields in European Union and to investigate the reasons of changes in labour productivity per employee in the macroeconomic level. In the article, firstly labour productivity per employee (GDP divided by the number of employed persons) in EU for the years 2013–2021 has been provided, then the results of the pandemic period have been compared with the results of the previous years. Both GDP and the number of employed persons have been decreased in 2020 compared to 2019. However, the decrease in GDP was higher than the decrease in number of employees which also means a drop in labour productivity per employee. Regarding the impact of the pandemic on labour productivity in various economic activity fields in EU, percentage changes of real labour productivity per employee in different industries in 2020 compared to 2019 show that there are substantial differences in changes which could mainly (but not only) explained by government restrictions causing business closures or working from home in some industries. For this reason, the relationship between real labour productivity per person and working from home in selected economic activity fields fitting best to the purpose and method of our analysis has been investigated and correlation coefficient has been calculated. The results confirm that working from home affected labour productivity in different economic activity fields during the pandemic.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123442344","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}
This article focuses on fraudulent behaviour and patterns as well as ways of detecting such patterns by using Big Data. The study analyses scientific articles to examine types of financial fraud and their detection techniques as well as develops a model that is based on factors characterizing fraudulent credit card transactions made across USA. Regression analysis, correlation and descriptive statistics analysis is applied. Statistically significant results are found indicating a causal relationship between fraudulent transactions and transactions made in Alaska, during the month of October and on a Thursday. Although, the impact of these relationships is relatively small. Expanding the dataset with more numerical variables that could be used for identifying fraudulent transactions is advised for future research as to better the overall fit of the model.
{"title":"FACTORS INFLUENCING FRAUDULENT TRANSACTIONS FROM BIG DATA PERSPECTIVE","authors":"F. Levon, Nijolė Maknickienė","doi":"10.3846/bm.2023.999","DOIUrl":"https://doi.org/10.3846/bm.2023.999","url":null,"abstract":"This article focuses on fraudulent behaviour and patterns as well as ways of detecting such patterns by using Big Data. The study analyses scientific articles to examine types of financial fraud and their detection techniques as well as develops a model that is based on factors characterizing fraudulent credit card transactions made across USA. Regression analysis, correlation and descriptive statistics analysis is applied. Statistically significant results are found indicating a causal relationship between fraudulent transactions and transactions made in Alaska, during the month of October and on a Thursday. Although, the impact of these relationships is relatively small. Expanding the dataset with more numerical variables that could be used for identifying fraudulent transactions is advised for future research as to better the overall fit of the model.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122256056","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}
Although the term “urban sustainability” has gained worldwide popularity in the past few decades, there is still no common understanding of its definition. The purpose of this paper is to provide a comprehensive analysis of the “urban” and “urban sustainability” terms by synthesizing the existing definitions and proposing a new term through a review of relevant literature, research and definition. In this study, the authors discuss numerous facets of urban sustainability, including environmental preservation, social equality, and economic growth. A comprehensive bibliometric analysis and systematic literature review are conducted to identify the meaning of the terms. It is concluded that urban sustainability can be defined as a state in which major subsystems of a city (economical, social, physical, and environmental) work in harmony to ensure the long-term well-being of its inhabitants and the preservation of natural resources on which the city’s growth and prosperity rely.
{"title":"TOWARDS A COMMON UNDERSTANDING OF URBAN SUSTAINABILITY","authors":"Regina Veckalne, T. Tambovceva","doi":"10.3846/bm.2023.962","DOIUrl":"https://doi.org/10.3846/bm.2023.962","url":null,"abstract":"Although the term “urban sustainability” has gained worldwide popularity in the past few decades, there is still no common understanding of its definition. The purpose of this paper is to provide a comprehensive analysis of the “urban” and “urban sustainability” terms by synthesizing the existing definitions and proposing a new term through a review of relevant literature, research and definition. In this study, the authors discuss numerous facets of urban sustainability, including environmental preservation, social equality, and economic growth. A comprehensive bibliometric analysis and systematic literature review are conducted to identify the meaning of the terms. It is concluded that urban sustainability can be defined as a state in which major subsystems of a city (economical, social, physical, and environmental) work in harmony to ensure the long-term well-being of its inhabitants and the preservation of natural resources on which the city’s growth and prosperity rely.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115502280","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}
In this era of global warming, there is a great deal of pressure on businesses to decrease industrial waste to manage a sustainable environment. Therefore, the purpose of this research is to investigate these problems by introducing green organizational capital in manufacturing firms to improve environmental performance. This research is quantitative in nature and data were collected from small and medium-sized firms in Pakistan. Various directors and managers from SMEs are respondents to this study. For this study, the sample size is 190 from the manufacturing sectors. For testing the hypotheses while using SPSS version 25. Hence direct results supported the literature but GHRM as a moderator did not support it in developing countries. This report includes regulators and managers with advice for paying attention to the environment’s performance. As a result, the results supported both direct and indirect assumptions, with varied theoretical and managerial implications for management and policymakers in ensuring environmental performance contributing variables.
{"title":"MODELING GREEN ORGANIZATIONAL CAPITAL AND ENVIRONMENTAL PERFORMANCE: MEDIATING AND MODERATING THE ROLE OF GREEN KNOWLEDGE SHARING AND GHRM PRACTICES","authors":"Nosheen Qadeer","doi":"10.3846/bm.2023.975","DOIUrl":"https://doi.org/10.3846/bm.2023.975","url":null,"abstract":"In this era of global warming, there is a great deal of pressure on businesses to decrease industrial waste to manage a sustainable environment. Therefore, the purpose of this research is to investigate these problems by introducing green organizational capital in manufacturing firms to improve environmental performance. This research is quantitative in nature and data were collected from small and medium-sized firms in Pakistan. Various directors and managers from SMEs are respondents to this study. For this study, the sample size is 190 from the manufacturing sectors. For testing the hypotheses while using SPSS version 25. Hence direct results supported the literature but GHRM as a moderator did not support it in developing countries. This report includes regulators and managers with advice for paying attention to the environment’s performance. As a result, the results supported both direct and indirect assumptions, with varied theoretical and managerial implications for management and policymakers in ensuring environmental performance contributing variables.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131673132","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}
Small and medium-sized enterprises (SMEs) place importance on the development of the global economy. Over 90% of the enterprises in the territory of the EU and in Bulgaria are of the SMEs type. The activity of SMEs is essential for the development of the economy of each country. The report aims to analyze the relationship between innovation expenditures of small and medium-sized enterprises (R&D_EXP_SMEs), real economic growth (R_GDP), index of economic freedom (IND_ECO_FRI) and corruption perceptions index (COR_PER_IND) for economy of Bulgaria. Annual data for the period 2000–2020 with 21 observations included were used. An econometric method Ordinary Least Squares (OLS) was applied. The results of the empirical research show that the positive coefficient of the corruption index, index of economic freedom and real economic growth leads to an increase in the expenditure for R&D of SMEs in Bulgaria. It can be concluded that the corruption perceptions index, index of economic freedom and real economic growth has an important role for the increase of the R&D expenditure of SMEs in Bulgaria. If the government wants to stimulate R&D expenditure of SMEs, it should implement policies to increase economic growth and decrease of the corruption in Bulgaria.
{"title":"DETERMINANTS OF R&D EXPENDITURE: AN EMPIRICAL EVIDENCE OF BULGARIA","authors":"Milena Kirilova Filipova, Daniela Stefanova Tancheva","doi":"10.3846/bm.2023.957","DOIUrl":"https://doi.org/10.3846/bm.2023.957","url":null,"abstract":"Small and medium-sized enterprises (SMEs) place importance on the development of the global economy. Over 90% of the enterprises in the territory of the EU and in Bulgaria are of the SMEs type. The activity of SMEs is essential for the development of the economy of each country. The report aims to analyze the relationship between innovation expenditures of small and medium-sized enterprises (R&D_EXP_SMEs), real economic growth (R_GDP), index of economic freedom (IND_ECO_FRI) and corruption perceptions index (COR_PER_IND) for economy of Bulgaria. Annual data for the period 2000–2020 with 21 observations included were used. An econometric method Ordinary Least Squares (OLS) was applied. The results of the empirical research show that the positive coefficient of the corruption index, index of economic freedom and real economic growth leads to an increase in the expenditure for R&D of SMEs in Bulgaria. It can be concluded that the corruption perceptions index, index of economic freedom and real economic growth has an important role for the increase of the R&D expenditure of SMEs in Bulgaria. If the government wants to stimulate R&D expenditure of SMEs, it should implement policies to increase economic growth and decrease of the corruption in Bulgaria.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127043824","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}
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