Abstract First demonstrated by Staw (1976), escalation of commitment is the tendency for an individual to increase their commitment to a failing course of action when they are personally responsible for the negative consequences. An attempt was made to replicate this finding and test whether individual differences in numeracy and cognitive reflection could help explain such an effect. No evidence for escalation of commitment amongst the participants was found (N = 365). Participants simply invested more in more promising projects. Also, no evidence was found that numeracy or cognitive reflection predict escalation behaviour. The validity of escalation of commitment behaviour is discussed which suggests that future work should look to explore the boundary conditions of such an effect.
{"title":"Escalation of commitment is independent of numeracy and cognitive reflection. Failed replication and extension of Staw (1976)","authors":"Michał J. Białek, M. Węgrzyn, E. Meyers","doi":"10.18559/ebr.2021.2.2","DOIUrl":"https://doi.org/10.18559/ebr.2021.2.2","url":null,"abstract":"Abstract First demonstrated by Staw (1976), escalation of commitment is the tendency for an individual to increase their commitment to a failing course of action when they are personally responsible for the negative consequences. An attempt was made to replicate this finding and test whether individual differences in numeracy and cognitive reflection could help explain such an effect. No evidence for escalation of commitment amongst the participants was found (N = 365). Participants simply invested more in more promising projects. Also, no evidence was found that numeracy or cognitive reflection predict escalation behaviour. The validity of escalation of commitment behaviour is discussed which suggests that future work should look to explore the boundary conditions of such an effect.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85302672","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 Implementation of health protection requires effective quantitative methods of its evaluation. Assessment could be based on usage of synthetic indices which aggregate couple input variables into a single measure. In this paper, the exploitation of a new synthetic index (by the author called HAI—the Healthcare Aggregated Index) was proposed with the aim of the assessment and long-term interstate comparisons of healthcare systems of the EU countries. Using taxonomic methodology, HAI involves three variables: the number of hospital beds, the number of physicians and the public expenditures on healthcare. HAI utilisation includes dynamic interstate comparisons of national healthcare systems of the different exploitations of human, physical and financial resources. The HAI application to assessment of twenty European Union Member States’ healthcare systems revealed an effect of substitution between health-care resources within the slight international differentiation of the health protection level and the minor dynamic of changes in time series.
{"title":"The EU Member States’ national healthcare systems compared using the single synthetic index","authors":"M. Jankowiak","doi":"10.18559/ebr.2021.2.4","DOIUrl":"https://doi.org/10.18559/ebr.2021.2.4","url":null,"abstract":"Abstract Implementation of health protection requires effective quantitative methods of its evaluation. Assessment could be based on usage of synthetic indices which aggregate couple input variables into a single measure. In this paper, the exploitation of a new synthetic index (by the author called HAI—the Healthcare Aggregated Index) was proposed with the aim of the assessment and long-term interstate comparisons of healthcare systems of the EU countries. Using taxonomic methodology, HAI involves three variables: the number of hospital beds, the number of physicians and the public expenditures on healthcare. HAI utilisation includes dynamic interstate comparisons of national healthcare systems of the different exploitations of human, physical and financial resources. The HAI application to assessment of twenty European Union Member States’ healthcare systems revealed an effect of substitution between health-care resources within the slight international differentiation of the health protection level and the minor dynamic of changes in time series.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80269606","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 study investigates the determinants of fiscal effort in sub-Saharan African (SSA) within the framework of fiscal reaction functions. Whereas previous studies focusing on SSA have mainly considered the economic non-debt determinants this study accounts for the role of conflict given its persistence in many SSA countries. It employs a variety of panel econometric methods that are applicable in tackling the problem of endogeneity. Specifically the study employs the instrumental variables fixed effects, the two-step generalised method of moments (GMM) and the traditional two-stage least squares techniques. Mainly the evidence shows that although SSA governments have made fiscal adjustments in response to the escalating levels of debt, conflict impacts negatively on this response in SSA. Furthermore, the results affirm the presence of fiscal fatigue in SSA’s fiscal reaction function. Recommendations based on these findings are discussed.
{"title":"Determinants of fiscal effort in sub-Saharan African countries: Does conflict matter?","authors":"Princewill U. Okwoche, Chimere O. Iheonu","doi":"10.18559/ebr.2021.2.5","DOIUrl":"https://doi.org/10.18559/ebr.2021.2.5","url":null,"abstract":"Abstract This study investigates the determinants of fiscal effort in sub-Saharan African (SSA) within the framework of fiscal reaction functions. Whereas previous studies focusing on SSA have mainly considered the economic non-debt determinants this study accounts for the role of conflict given its persistence in many SSA countries. It employs a variety of panel econometric methods that are applicable in tackling the problem of endogeneity. Specifically the study employs the instrumental variables fixed effects, the two-step generalised method of moments (GMM) and the traditional two-stage least squares techniques. Mainly the evidence shows that although SSA governments have made fiscal adjustments in response to the escalating levels of debt, conflict impacts negatively on this response in SSA. Furthermore, the results affirm the presence of fiscal fatigue in SSA’s fiscal reaction function. Recommendations based on these findings are discussed.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85239186","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 main aim of the paper is to use the repeated weighting (RW) method on data from the National Census of Population and Housing 2011 (NCPH) and Labour Force Survey (LFS) to ensure consistency between margins of final tables derived from different statistical sources. This technique, based on different data sources, would ensure consistency between estimates in final output tables. This is the first application of the RW approach on data from official statistics in Poland. The results obtained by applying the RW method to data from the NCPH and additional surveys (e.g. LFS) may be used by Statistics Poland for the formulation of conclusions and recommendations for the upcoming census in 2021. The method may be also considered as an important step towards the production of timely and more detailed statistical information in Poland based on multi-source data infrastructure in general4.
{"title":"Repeated weighting in mixed-mode censuses","authors":"M. Szymkowiak, Kamil Wilak","doi":"10.18559/ebr.2021.1.3","DOIUrl":"https://doi.org/10.18559/ebr.2021.1.3","url":null,"abstract":"Abstract The main aim of the paper is to use the repeated weighting (RW) method on data from the National Census of Population and Housing 2011 (NCPH) and Labour Force Survey (LFS) to ensure consistency between margins of final tables derived from different statistical sources. This technique, based on different data sources, would ensure consistency between estimates in final output tables. This is the first application of the RW approach on data from official statistics in Poland. The results obtained by applying the RW method to data from the NCPH and additional surveys (e.g. LFS) may be used by Statistics Poland for the formulation of conclusions and recommendations for the upcoming census in 2021. The method may be also considered as an important step towards the production of timely and more detailed statistical information in Poland based on multi-source data infrastructure in general4.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73476373","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 In mathematical economics there is a number of so called “turnpike theorems” proved mainly on the basis of multiproduct models of economic dynamics. According to these theorems, all optimal paths of economic growth over a long period of time converge to a certain path (turnpike) in which the economy achieves the highest growth rate while remaining in a specific dynamic (von Neumann) equilibrium. The article refers to this trend and presents some properties of optimal growth processes in the Gale-type model of the stationary economy when the quality criterion of growth processes is not the utility of production—which is normally postulated in the turnpike theory—but the time needed by the economy to achieve the desired final state, e.g. the level of production or production value. According to the author’s knowledge, the idea of using time as a criterion for growth in turnpike theory (especially in Gale-type economy) is innovative. It has been proven that changing the growth criterion does not deprive the Gale economy of its asymptotic / turnpike properties.
{"title":"The minimal-time growth problem and turnpike effect in the stationary Gale economy","authors":"E. Panek","doi":"10.18559/ebr.2021.1.2","DOIUrl":"https://doi.org/10.18559/ebr.2021.1.2","url":null,"abstract":"Abstract In mathematical economics there is a number of so called “turnpike theorems” proved mainly on the basis of multiproduct models of economic dynamics. According to these theorems, all optimal paths of economic growth over a long period of time converge to a certain path (turnpike) in which the economy achieves the highest growth rate while remaining in a specific dynamic (von Neumann) equilibrium. The article refers to this trend and presents some properties of optimal growth processes in the Gale-type model of the stationary economy when the quality criterion of growth processes is not the utility of production—which is normally postulated in the turnpike theory—but the time needed by the economy to achieve the desired final state, e.g. the level of production or production value. According to the author’s knowledge, the idea of using time as a criterion for growth in turnpike theory (especially in Gale-type economy) is innovative. It has been proven that changing the growth criterion does not deprive the Gale economy of its asymptotic / turnpike properties.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81876495","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 study investigates the wage differential and discrimination between genders in Turkey based on data taken from the nationally representative Turkish Household Labour Survey for 2002 to 2019. The Blinder–Oaxaca decomposition technique was used which was then integrated into the Heckman’s selection correction procedure. It was found that the gender wage gap is small in the Turkish labour market, while most of this gap originates from the discrimination against women. In addition ignoring the occupational and sectoral effects on the gender wage gap could result in underestimation of the discrimination effects both directly and indirectly through higher human capital of female employees. Lastly all these indicate that the results could likely be specific to the data set.
{"title":"Assessing the gender wage gap: Turkey in the years 2002–2019","authors":"Z. Koral, M. A. Mercan","doi":"10.18559/ebr.2021.1.6","DOIUrl":"https://doi.org/10.18559/ebr.2021.1.6","url":null,"abstract":"Abstract This study investigates the wage differential and discrimination between genders in Turkey based on data taken from the nationally representative Turkish Household Labour Survey for 2002 to 2019. The Blinder–Oaxaca decomposition technique was used which was then integrated into the Heckman’s selection correction procedure. It was found that the gender wage gap is small in the Turkish labour market, while most of this gap originates from the discrimination against women. In addition ignoring the occupational and sectoral effects on the gender wage gap could result in underestimation of the discrimination effects both directly and indirectly through higher human capital of female employees. Lastly all these indicate that the results could likely be specific to the data set.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79173122","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 authors show that RW is effective not only in providing consistent output tables from various information sources but that it also enables the creation of output tables that it would not be possible to obtain with the use of a single data source. [...]the authors suggest that RW would be useful for Statistics Poland in the upcoming 2021 Polish census and, in a more general way, would contribute to producing timely and more comprehensive statistical data. [...]the authors note that even though discrimination against female employees in Turkey seems to be persistent it decreased over the period under analysis. The authors show that the use of trade credit by Polish listed companies is explained mostly by trade payables in the previous period, trade receivables, long-term debt, liquidity and shortterm debt. [...]long-term and short-term debt financing are found to serve as a substitute for trade credit.
{"title":"Editorial introduction","authors":"Monika Banaszewska, Michal Pilc","doi":"10.18559/ebr.2021.1.1","DOIUrl":"https://doi.org/10.18559/ebr.2021.1.1","url":null,"abstract":"The authors show that RW is effective not only in providing consistent output tables from various information sources but that it also enables the creation of output tables that it would not be possible to obtain with the use of a single data source. [...]the authors suggest that RW would be useful for Statistics Poland in the upcoming 2021 Polish census and, in a more general way, would contribute to producing timely and more comprehensive statistical data. [...]the authors note that even though discrimination against female employees in Turkey seems to be persistent it decreased over the period under analysis. The authors show that the use of trade credit by Polish listed companies is explained mostly by trade payables in the previous period, trade receivables, long-term debt, liquidity and shortterm debt. [...]long-term and short-term debt financing are found to serve as a substitute for trade credit.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82602786","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 paper is to answer the question as to why Germany is cautious towards a faster enlargement of the euro area. The usual explanation focuses on concerns that some of the candidate countries are not economically ready to adopt the common currency and their membership could destabilize the monetary union. However, such an approach does not take into account other factors that may influence Germany’s reluctance to speed up the enlargement process. One of them is the conviction that the existing division of integration does not translate into economic costs and a long-term political cleavage in the EU. Another argument explaining Germany’s position is their doubt about the economic policy preferences of the candidates which may prove to be crucial in the upcoming reform of the euro area governance. Some of them can drift towards more interventionism and support for the debtors’ positions which is at odds with German interest.
{"title":"Germany’s attitude towards the enlargement of the eurozone","authors":"Sebastian Płóciennik","doi":"10.18559/ebr.2021.1.4","DOIUrl":"https://doi.org/10.18559/ebr.2021.1.4","url":null,"abstract":"Abstract The purpose of this paper is to answer the question as to why Germany is cautious towards a faster enlargement of the euro area. The usual explanation focuses on concerns that some of the candidate countries are not economically ready to adopt the common currency and their membership could destabilize the monetary union. However, such an approach does not take into account other factors that may influence Germany’s reluctance to speed up the enlargement process. One of them is the conviction that the existing division of integration does not translate into economic costs and a long-term political cleavage in the EU. Another argument explaining Germany’s position is their doubt about the economic policy preferences of the candidates which may prove to be crucial in the upcoming reform of the euro area governance. Some of them can drift towards more interventionism and support for the debtors’ positions which is at odds with German interest.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87040922","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 article is to identify the most important factors influencing the use of trade credit and to assess their significance for Polish listed companies taking into consideration the role of trade credit as a source of financing. Theoretical and empirical literature does not provide clear guidance regarding factors influencing the use of trade credit. In this study the linear regression model with fixed effects for years is used to describe trade credit use in listed Polish companies in the period 2002–2018. The findings show that the following factors have the most pronounced influence on the use of trade credit: trade payables in the previous period, trade receivables, long-term debt, liquidity and short-term debt. Both long-term and short-term debt financing and trade payables are substitutes for Polish listed companies. Lower liquidity and higher trade receivables are related to a higher use of trade credit.
{"title":"Factors influencing the use of trade credit in financing Polish listed companies","authors":"Aleksandra Duliniec, Natalia Świda","doi":"10.18559/ebr.2021.1.7","DOIUrl":"https://doi.org/10.18559/ebr.2021.1.7","url":null,"abstract":"Abstract The aim of this article is to identify the most important factors influencing the use of trade credit and to assess their significance for Polish listed companies taking into consideration the role of trade credit as a source of financing. Theoretical and empirical literature does not provide clear guidance regarding factors influencing the use of trade credit. In this study the linear regression model with fixed effects for years is used to describe trade credit use in listed Polish companies in the period 2002–2018. The findings show that the following factors have the most pronounced influence on the use of trade credit: trade payables in the previous period, trade receivables, long-term debt, liquidity and short-term debt. Both long-term and short-term debt financing and trade payables are substitutes for Polish listed companies. Lower liquidity and higher trade receivables are related to a higher use of trade credit.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86160043","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 the study is twofold. Firstly, it is believed to be the first study of its kind to explore the interconnectivity of the current stage of the EU’s Digital Single Market (DSM)3 (European Commission, 2015c) and its development prospects within the framework of the EU and its Member States’ SD approach. Secondly, it provides further evidence for the policy debate on the essential priorities of DSM deemed to be a stimulus to the future SD of the EU. It is an attempt to fill the existing gap in research conducted so far on SD and its correlation with the building process of the digital market in the EU. The task is to present by using the method of synthesis and deduction, the essence and milieu of the contemporary processes of building the DSM in the EU in the context of its potential influence for the SD of the EU and its Member States. Due to the interdisciplinary and complexity of the data analyses, mixed research methods were used to integrate quantitative and qualitative analyses and results.
{"title":"Fostering sustainable development through the European Digital Single Market","authors":"Ewa Latoszek","doi":"10.18559/ebr.2021.1.5","DOIUrl":"https://doi.org/10.18559/ebr.2021.1.5","url":null,"abstract":"Abstract The aim of the study is twofold. Firstly, it is believed to be the first study of its kind to explore the interconnectivity of the current stage of the EU’s Digital Single Market (DSM)3 (European Commission, 2015c) and its development prospects within the framework of the EU and its Member States’ SD approach. Secondly, it provides further evidence for the policy debate on the essential priorities of DSM deemed to be a stimulus to the future SD of the EU. It is an attempt to fill the existing gap in research conducted so far on SD and its correlation with the building process of the digital market in the EU. The task is to present by using the method of synthesis and deduction, the essence and milieu of the contemporary processes of building the DSM in the EU in the context of its potential influence for the SD of the EU and its Member States. Due to the interdisciplinary and complexity of the data analyses, mixed research methods were used to integrate quantitative and qualitative analyses and results.","PeriodicalId":41557,"journal":{"name":"Economics and Business Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79112127","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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