Abstract The COVID-19 pandemic has caused great turbulence in global financial markets. The first goal of this conceptual paper is to explore whether managers of companies listed on the Warsaw Stock Exchange are susceptible to selected behavioral biases related to irrational risk preferences. We also seek to investigate whether susceptibility to these errors may affect selected management practices in the areas of corporate risk management and investment policy. The second major goal of our project is to identify whether there is a link at the micro level, that is, between the aforementioned irrational management practices resulting from susceptibility to behavioral biases and the macro level (i.e., certain macroeconomic indicators, such as aggregate investment, employment, and growth). We hope that our research project will contribute to shifting the paradigm of economics in such a way that the behavioral approach will be increasingly used and acknowledged by researchers.
{"title":"Behavioral biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland","authors":"M. Rzeszutek, A. Szyszka, Szymon Okoń","doi":"10.2478/ijme-2022-0033","DOIUrl":"https://doi.org/10.2478/ijme-2022-0033","url":null,"abstract":"Abstract The COVID-19 pandemic has caused great turbulence in global financial markets. The first goal of this conceptual paper is to explore whether managers of companies listed on the Warsaw Stock Exchange are susceptible to selected behavioral biases related to irrational risk preferences. We also seek to investigate whether susceptibility to these errors may affect selected management practices in the areas of corporate risk management and investment policy. The second major goal of our project is to identify whether there is a link at the micro level, that is, between the aforementioned irrational management practices resulting from susceptibility to behavioral biases and the macro level (i.e., certain macroeconomic indicators, such as aggregate investment, employment, and growth). We hope that our research project will contribute to shifting the paradigm of economics in such a way that the behavioral approach will be increasingly used and acknowledged by researchers.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"19 1","pages":"70 - 76"},"PeriodicalIF":0.8,"publicationDate":"2023-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78971171","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 study aims at presenting the specificity of the economy and merchandise trade of unrecognized entities in the Caucasus region, with a particular focus on Abkhazia and South Ossetia. The study also analyses the potential changes in merchandise trade structure and volume. The empirical analysis covers the period between 2015 and 2020. The conducted study has revealed that over the last years, Abkhazia and South Ossetia have improved their economic condition, increasing industrial production, developing services, and maintaining trade exchange with other states. However, as the outcomes of the gravity model of trade indicate, both unrecognized entities do not fully utilize its trade potential, especially with Georgia, Russia, and Turkey. Hence legitimizing trade between Abkhazia and South Ossetia may bring economic benefits not only for both entities but also for other countries, especially their immediate neighbors.
{"title":"Merchandise trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia","authors":"Magdalena Suska","doi":"10.2478/ijme-2022-0029","DOIUrl":"https://doi.org/10.2478/ijme-2022-0029","url":null,"abstract":"Abstract The study aims at presenting the specificity of the economy and merchandise trade of unrecognized entities in the Caucasus region, with a particular focus on Abkhazia and South Ossetia. The study also analyses the potential changes in merchandise trade structure and volume. The empirical analysis covers the period between 2015 and 2020. The conducted study has revealed that over the last years, Abkhazia and South Ossetia have improved their economic condition, increasing industrial production, developing services, and maintaining trade exchange with other states. However, as the outcomes of the gravity model of trade indicate, both unrecognized entities do not fully utilize its trade potential, especially with Georgia, Russia, and Turkey. Hence legitimizing trade between Abkhazia and South Ossetia may bring economic benefits not only for both entities but also for other countries, especially their immediate neighbors.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"53 1","pages":"57 - 69"},"PeriodicalIF":0.8,"publicationDate":"2023-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88623125","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 Paper’s objectives The purpose of this paper is to examine the ways in which to neutralize the country-of-origin (COO) effect (COE) in the emerging market of firms’ international branding. Design/methods applied/approach used A multiple-case study of five companies from European and Asian emerging markets – owners of household appliances brands, with data sourced from in-depth interviews and secondary sources. Findings Companies from emerging markets neutralize the genuine COO in their international branding in various ways, for example, by applying brand or sub-brand names that do not refer to the genuine country-of-brand-origin, using slogans in foreign languages or establishing brand alliances with partners from developed countries. Originality/value This study offers original insights fostering a better understanding of international branding strategies applied by emerging market companies by identifying the ways they neutralize the COE both at the brand concept level and brand marketing communication tools.
{"title":"Ways to neutralize the country-of-origin effect in the emerging market firms international branding","authors":"M. Witek-Hajduk, Anna Grudecka","doi":"10.2478/ijme-2022-0027","DOIUrl":"https://doi.org/10.2478/ijme-2022-0027","url":null,"abstract":"Abstract Paper’s objectives The purpose of this paper is to examine the ways in which to neutralize the country-of-origin (COO) effect (COE) in the emerging market of firms’ international branding. Design/methods applied/approach used A multiple-case study of five companies from European and Asian emerging markets – owners of household appliances brands, with data sourced from in-depth interviews and secondary sources. Findings Companies from emerging markets neutralize the genuine COO in their international branding in various ways, for example, by applying brand or sub-brand names that do not refer to the genuine country-of-brand-origin, using slogans in foreign languages or establishing brand alliances with partners from developed countries. Originality/value This study offers original insights fostering a better understanding of international branding strategies applied by emerging market companies by identifying the ways they neutralize the COE both at the brand concept level and brand marketing communication tools.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"14 1","pages":"46 - 56"},"PeriodicalIF":0.8,"publicationDate":"2023-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90343015","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 Paper’s objectives The main purpose of the article was to identify the level of concentration on the market of audit services provided to public companies listed on the Warsaw Stock Exchange. The additional aim of the article was to identify the level of rotation among companies providing audit services to public companies listed on the Warsaw Stock Exchange. Methods applied The research conclusions were formulated based on the analysis of 3,960 annual reports prepared in the years between 2011 and 2019 by companies listed on the Warsaw Stock Exchange. Findings The study found that over the years from 2011 to 2016 the concentration (measured by BIG4, CR4, CR8, and 10KAP indicators) on the market of auditing services provided to public companies increased. However, as of 2017, this concentration began to decline. This demonstrates the effectiveness of the new regulations on the audit market. In the analyzed period, eight audit firms, referred to in the article as “leading”, provided their services to an average of >62% of public companies. Their share in the market of auditing services varied from sector to sector. At the turn of 2016 and of 2017, a significant increase in the level of rotation on the market of audit services provided to public companies was observed. This level varied from sector to sector. Originality/value The literature on the subject has not yet presented a comprehensive analysis of the impact of EU directives on the structure of the Polish market of audit services provided to public companies. This issue is a research gap, which has been filled in this article.
{"title":"Concentration on the market of audit services provided to publicly listed companies: Evidence from Poland","authors":"J. Gad","doi":"10.2478/ijme-2022-0025","DOIUrl":"https://doi.org/10.2478/ijme-2022-0025","url":null,"abstract":"Abstract Paper’s objectives The main purpose of the article was to identify the level of concentration on the market of audit services provided to public companies listed on the Warsaw Stock Exchange. The additional aim of the article was to identify the level of rotation among companies providing audit services to public companies listed on the Warsaw Stock Exchange. Methods applied The research conclusions were formulated based on the analysis of 3,960 annual reports prepared in the years between 2011 and 2019 by companies listed on the Warsaw Stock Exchange. Findings The study found that over the years from 2011 to 2016 the concentration (measured by BIG4, CR4, CR8, and 10KAP indicators) on the market of auditing services provided to public companies increased. However, as of 2017, this concentration began to decline. This demonstrates the effectiveness of the new regulations on the audit market. In the analyzed period, eight audit firms, referred to in the article as “leading”, provided their services to an average of >62% of public companies. Their share in the market of auditing services varied from sector to sector. At the turn of 2016 and of 2017, a significant increase in the level of rotation on the market of audit services provided to public companies was observed. This level varied from sector to sector. Originality/value The literature on the subject has not yet presented a comprehensive analysis of the impact of EU directives on the structure of the Polish market of audit services provided to public companies. This issue is a research gap, which has been filled in this article.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"80 1","pages":"32 - 45"},"PeriodicalIF":0.8,"publicationDate":"2023-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82272068","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 We investigate whether increasing the education quality causes increases in economic growth allowing poorer countries to catch up. To this end, we extend Nelson-Phelps's classic paper by introducing differences in education quality (proxied by students' performance on the Program for International Student Assessment [PISA] test) in a leader-follower type of growth model with knowledge diffusion. We use students' performance in a standardized international PISA test to measure education quality's impact on economic growth using a panel Vector Error Correction allowing for cross-correlation in the co-integration analysis in a set of all countries observed over the years 1975–2018. Additionally, we consider the possible reverse causality that characterizes economic development and the quality of education. Our results confirm the relevance of education quality as a significant causal factor of economic growth. However, further analyses indicate that the discussed relation is long-run, which may have important implications for policymakers.
{"title":"Does an increase in education quality cause developing countries to catch up?","authors":"Łukasz Goczek, B. Witkowski, E. Witkowska","doi":"10.2478/ijme-2022-0028","DOIUrl":"https://doi.org/10.2478/ijme-2022-0028","url":null,"abstract":"Abstract We investigate whether increasing the education quality causes increases in economic growth allowing poorer countries to catch up. To this end, we extend Nelson-Phelps's classic paper by introducing differences in education quality (proxied by students' performance on the Program for International Student Assessment [PISA] test) in a leader-follower type of growth model with knowledge diffusion. We use students' performance in a standardized international PISA test to measure education quality's impact on economic growth using a panel Vector Error Correction allowing for cross-correlation in the co-integration analysis in a set of all countries observed over the years 1975–2018. Additionally, we consider the possible reverse causality that characterizes economic development and the quality of education. Our results confirm the relevance of education quality as a significant causal factor of economic growth. However, further analyses indicate that the discussed relation is long-run, which may have important implications for policymakers.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"5 1","pages":"393 - 408"},"PeriodicalIF":0.8,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90383962","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 concept of the creative economy in the modern global world is filled with new meanings and acquires many qualitatively new features and properties. The article describes the development of creative economy models. A comparative analysis of the characteristics of the creative economy in EU countries and Ukraine was carried out. Through statistical analysis of creative activities in the economy of Ukraine, we determined the list of growth parameters. Using analysis of the studies on the creative economy in Ukraine, we determined the peculiarities and problems of its formation to formulate the principles and priorities of the state policy for the development of the creative economy in Ukraine. The modern model of the creative economy of Ukraine is proposed to be supplemented by the development of creative human potential.
{"title":"Using the potential of the creative economy to restore Ukraine","authors":"I. Moiseienko","doi":"10.2478/ijme-2022-0022","DOIUrl":"https://doi.org/10.2478/ijme-2022-0022","url":null,"abstract":"Abstract The concept of the creative economy in the modern global world is filled with new meanings and acquires many qualitatively new features and properties. The article describes the development of creative economy models. A comparative analysis of the characteristics of the creative economy in EU countries and Ukraine was carried out. Through statistical analysis of creative activities in the economy of Ukraine, we determined the list of growth parameters. Using analysis of the studies on the creative economy in Ukraine, we determined the peculiarities and problems of its formation to formulate the principles and priorities of the state policy for the development of the creative economy in Ukraine. The modern model of the creative economy of Ukraine is proposed to be supplemented by the development of creative human potential.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"14 1","pages":"381 - 392"},"PeriodicalIF":0.8,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89352364","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 Despite a considerable body of research and gathering information on advanced technologies, there is still a study gap concerning its importance from the perspective of international competitiveness. Therefore, a question arises: what affects the competitive potential and how does it contribute to the competitive position of the high-tech sector in European Union (EU) countries? For this reason, a study was taken up to evaluate the competitive potential and competitive position of the high-tech sector in EU countries. Defining the competitiveness, competitive potential, and competitive position in the industry was the starting point for the analysis. Further, selected indices were used to evaluate the competitive potential and to establish a competitive position. The synthetic competitiveness index was also calculated. The study identified the decisive factors having an impact on the competitive potential and competitive position of the sector and the relationship between them.
{"title":"Competitive potential vs. the competitive position of the high-tech sector in European Union countries","authors":"M. Juchniewicz, M. Łada","doi":"10.2478/ijme-2022-0031","DOIUrl":"https://doi.org/10.2478/ijme-2022-0031","url":null,"abstract":"Abstract Despite a considerable body of research and gathering information on advanced technologies, there is still a study gap concerning its importance from the perspective of international competitiveness. Therefore, a question arises: what affects the competitive potential and how does it contribute to the competitive position of the high-tech sector in European Union (EU) countries? For this reason, a study was taken up to evaluate the competitive potential and competitive position of the high-tech sector in EU countries. Defining the competitiveness, competitive potential, and competitive position in the industry was the starting point for the analysis. Further, selected indices were used to evaluate the competitive potential and to establish a competitive position. The synthetic competitiveness index was also calculated. The study identified the decisive factors having an impact on the competitive potential and competitive position of the sector and the relationship between them.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"1 1","pages":"371 - 380"},"PeriodicalIF":0.8,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78553793","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}
P. Śliwiński, Szymon Ablewski, K. Gemra, Michał Łukowski
Abstract The underpricing phenomenon on financial markets has long been the research subject in many financial areas – from neoclassical to behavioral finance. Once confirmed as a persistent pattern, it has begun an ongoing discussion as to its possible causes. Our study examined the phenomenon of IPO underpricing for companies from the game sector in Poland from 2016 to 2020. Many IPOs in Poland have attracted both international companies and investors, making the Warsaw Stock Exchange a kind of financial hub for game companies. Analyzing the whole IPO market in Poland, we however found substantial IPO underpricing, which is statistically higher in the game sector than in the no-game group of debuting companies. Our research argues that the issuer's industry may influence the size of the IPO's first-day return. We also noticed that the way the IPO was carried out influenced the underpricing. Greater underpricing characterized private offers compared to public offers.
{"title":"Where is the missing value? Evidence from the game industry IPOs underpricing in Poland","authors":"P. Śliwiński, Szymon Ablewski, K. Gemra, Michał Łukowski","doi":"10.2478/ijme-2022-0024","DOIUrl":"https://doi.org/10.2478/ijme-2022-0024","url":null,"abstract":"Abstract The underpricing phenomenon on financial markets has long been the research subject in many financial areas – from neoclassical to behavioral finance. Once confirmed as a persistent pattern, it has begun an ongoing discussion as to its possible causes. Our study examined the phenomenon of IPO underpricing for companies from the game sector in Poland from 2016 to 2020. Many IPOs in Poland have attracted both international companies and investors, making the Warsaw Stock Exchange a kind of financial hub for game companies. Analyzing the whole IPO market in Poland, we however found substantial IPO underpricing, which is statistically higher in the game sector than in the no-game group of debuting companies. Our research argues that the issuer's industry may influence the size of the IPO's first-day return. We also noticed that the way the IPO was carried out influenced the underpricing. Greater underpricing characterized private offers compared to public offers.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"58 1","pages":"335 - 350"},"PeriodicalIF":0.8,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80152570","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 the article is to review and critique the implementation of food export restrictions in times of crisis in addressing food security challenges. The methodological approach was to undertake a narrative literature review to outline the challenge of ensuring food security in times of crisis. We explored the problem of food export restrictions introduced in 2007–2008 and 2020 and assessed the changes in the state of food security at the national level during the COVID-19 pandemic using the Global Food Security Index (GFSI). The trade restrictions imposed in 2020 did not play a key role in the increases in international food prices as was the case during 2007–2008 and 2010–2011. The analysis of GFSI values questions whether food export restrictions have been sufficient measures given the size of the food security challenge during the pandemic, and this is a new contribution of this research. The issue of food export restrictions is underregulated in the World Trade Organization (WTO), and this needs to be urgently addressed by another institution, e.g., Food and Agriculture Organization (FAO), given that the war in Ukraine is endangering food security across the world.
{"title":"Food export restrictions during the COVID-19 pandemic: Real and potential effects on food security","authors":"A. Kowalska, A. Budzyńska, Tomasz Białowąs","doi":"10.2478/ijme-2022-0023","DOIUrl":"https://doi.org/10.2478/ijme-2022-0023","url":null,"abstract":"Abstract The purpose of the article is to review and critique the implementation of food export restrictions in times of crisis in addressing food security challenges. The methodological approach was to undertake a narrative literature review to outline the challenge of ensuring food security in times of crisis. We explored the problem of food export restrictions introduced in 2007–2008 and 2020 and assessed the changes in the state of food security at the national level during the COVID-19 pandemic using the Global Food Security Index (GFSI). The trade restrictions imposed in 2020 did not play a key role in the increases in international food prices as was the case during 2007–2008 and 2010–2011. The analysis of GFSI values questions whether food export restrictions have been sufficient measures given the size of the food security challenge during the pandemic, and this is a new contribution of this research. The issue of food export restrictions is underregulated in the World Trade Organization (WTO), and this needs to be urgently addressed by another institution, e.g., Food and Agriculture Organization (FAO), given that the war in Ukraine is endangering food security across the world.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"44 1","pages":"409 - 424"},"PeriodicalIF":0.8,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77354716","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}
Blanka Łęt, Konrad Sobański, Wojciech Świder, Katarzyna Włosik
Abstract This article sheds new light on the informational efficiency of the cryptocurrency market by analyzing investment strategies based on structural factors related to on-chain data. The study aims to verify whether investors in the cryptocurrency market can outperform passive investment strategies by applying active strategies based on selected fundamental factors. The research uses daily data from 2015 to 2022 for the two major cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH). The study applies statistical tests for differences. The findings indicate informational inefficiency of the BTC and ETH markets. They seem consistent over time and are confirmed during the COVID-19 pandemic. The research shows that the net unrealized profit/loss and percent of addresses in profit indicators are useful in designing active investment strategies in the cryptocurrency market. The factor-based strategies perform consistently better in terms of mean/median returns and Sharpe ratio than the passive “buy-and-hold” strategy. Moreover, the rate of success is close to 100%.
{"title":"Is the cryptocurrency market efficient? Evidence from an analysis of fundamental factors for Bitcoin and Ethereum","authors":"Blanka Łęt, Konrad Sobański, Wojciech Świder, Katarzyna Włosik","doi":"10.2478/ijme-2022-0030","DOIUrl":"https://doi.org/10.2478/ijme-2022-0030","url":null,"abstract":"Abstract This article sheds new light on the informational efficiency of the cryptocurrency market by analyzing investment strategies based on structural factors related to on-chain data. The study aims to verify whether investors in the cryptocurrency market can outperform passive investment strategies by applying active strategies based on selected fundamental factors. The research uses daily data from 2015 to 2022 for the two major cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH). The study applies statistical tests for differences. The findings indicate informational inefficiency of the BTC and ETH markets. They seem consistent over time and are confirmed during the COVID-19 pandemic. The research shows that the net unrealized profit/loss and percent of addresses in profit indicators are useful in designing active investment strategies in the cryptocurrency market. The factor-based strategies perform consistently better in terms of mean/median returns and Sharpe ratio than the passive “buy-and-hold” strategy. Moreover, the rate of success is close to 100%.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":"1 1","pages":"351 - 370"},"PeriodicalIF":0.8,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90785288","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}