Abstract Emerging countries’ economies are dependent on foreign capital inflows. For policy makers and researchers of particular interest is to understand the nature of these flows and their impact on the domestic capital market. The first significant foreign inflows entered the Macedonian Stock Market at the end of 2004, and stock prices were increased. It was general belief among the investors that foreigners are driving the prices on the Macedonian Stock Market. This study examines the influence of foreign investors’ trades on stock returns in Macedonia using base broadening and price pressure hypotheses. Strong evidence consistent with the base-broadening hypothesis shows that 1% of monthly net inflows as a percentage of last month market capitalization is connected with 7% rise in monthly returns on the Macedonian stock market. The findings do not support the price pressure hypothesis, so the rise in the prices is permanent.
{"title":"The Impact of Foreigners’ Trades on Equity Prices: Evidence from Macedonian Stock Exchange","authors":"Julijana Angelovska","doi":"10.2478/jeb-2020-0005","DOIUrl":"https://doi.org/10.2478/jeb-2020-0005","url":null,"abstract":"Abstract Emerging countries’ economies are dependent on foreign capital inflows. For policy makers and researchers of particular interest is to understand the nature of these flows and their impact on the domestic capital market. The first significant foreign inflows entered the Macedonian Stock Market at the end of 2004, and stock prices were increased. It was general belief among the investors that foreigners are driving the prices on the Macedonian Stock Market. This study examines the influence of foreign investors’ trades on stock returns in Macedonia using base broadening and price pressure hypotheses. Strong evidence consistent with the base-broadening hypothesis shows that 1% of monthly net inflows as a percentage of last month market capitalization is connected with 7% rise in monthly returns on the Macedonian stock market. The findings do not support the price pressure hypothesis, so the rise in the prices is permanent.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41981071","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 Migration and remittances are argued to be an effective mechanism for mitigating poverty, as well as a coping mechanism for disadvantaged households with no or little employment and earning opportunities in Kosovo. A considerable part is reported to be directed towards consumption and very little for investment or enterpreneurship purposes. The high dependence of households on remittances suggests that poverty rates would be much higher without the safety net provided through migration and remittances. The conventional approach of empirically estimating determinants of remittances, including those focusing on Kosovo, treats both remittance and migration behaviour as independent decisions. Empirically estimating determinants of remittances while overlooking the importance of variables that influenced the decision to migrate will leave out these determinants and also bias the results. Hence, this study treats migration and remittance decision as a joint process and focuses on the household. More precisely, it analyses the impact that remittances and migration have on the poverty in Kosovo, in a hypothetical case, without remittances and migration using data from the Household Budget Survey 2011. Due to the potential presence of selection bias, this study uses a two-stage Heckman-type selection procedure which suggests that there is no selection bias. The study develops counterfactual consumption estimates for remittance recipient households through the use of survey bootstrap procedure to predict the consumption of households in the case of no remittances. The results support the hypothesis that remittances increase the consumption of recipient households. The poverty rate would be higher for a considerable proportion of households in the case of no remittances. The poverty rates would increase particularly in rural areas. The novelty of this study lies on the methodological approach chosen to investigate the impact of remittances on poverty in Kosovo. In contrast to previous analysis, this study controls for potential selection bias and empirically assesses whether the expectations on the poverty reducing effect of remittances in Kosovo hold.
{"title":"Do Remittances reduce poverty in Kosovo? - A counterfactual analysis","authors":"Arbëresha Loxha","doi":"10.2478/jeb-2019-0018","DOIUrl":"https://doi.org/10.2478/jeb-2019-0018","url":null,"abstract":"Abstract Migration and remittances are argued to be an effective mechanism for mitigating poverty, as well as a coping mechanism for disadvantaged households with no or little employment and earning opportunities in Kosovo. A considerable part is reported to be directed towards consumption and very little for investment or enterpreneurship purposes. The high dependence of households on remittances suggests that poverty rates would be much higher without the safety net provided through migration and remittances. The conventional approach of empirically estimating determinants of remittances, including those focusing on Kosovo, treats both remittance and migration behaviour as independent decisions. Empirically estimating determinants of remittances while overlooking the importance of variables that influenced the decision to migrate will leave out these determinants and also bias the results. Hence, this study treats migration and remittance decision as a joint process and focuses on the household. More precisely, it analyses the impact that remittances and migration have on the poverty in Kosovo, in a hypothetical case, without remittances and migration using data from the Household Budget Survey 2011. Due to the potential presence of selection bias, this study uses a two-stage Heckman-type selection procedure which suggests that there is no selection bias. The study develops counterfactual consumption estimates for remittance recipient households through the use of survey bootstrap procedure to predict the consumption of households in the case of no remittances. The results support the hypothesis that remittances increase the consumption of recipient households. The poverty rate would be higher for a considerable proportion of households in the case of no remittances. The poverty rates would increase particularly in rural areas. The novelty of this study lies on the methodological approach chosen to investigate the impact of remittances on poverty in Kosovo. In contrast to previous analysis, this study controls for potential selection bias and empirically assesses whether the expectations on the poverty reducing effect of remittances in Kosovo hold.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49424597","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 deals with the influence of competition on soundness of Croatian insurers using the Boone indicator when measuring competition. The authors analyse Croatian insurers that operated over the pre-EU accession period 2008 – 2012 as well as in the period 2013 – 2017, i.e. after the accession to the EU. Several firm-level, industry-level and macroeconomic variables are used in the research. The findings of the analysis are twofold. Specifically, the Boone indicator reveals the impact of competition on the performance of efficient insurers in post-EU accession period only accounting for the reallocation effects proving that efficient insurers make higher profits. Regarding the determinants of the insurers’ soundness, premium to surplus ratio and inflation rate play significant role in pre - EU accession period whereas reinsurance and GDP growth rate are statistically significant after EU accession. Moreover, the competition increased in the years after the EU accession. Robustness check provides similar results.
{"title":"The Boone Indicator as Determinant of Croatian Insurance Market Soundness","authors":"Tomislava Pavic Kramaric, M. Miletic","doi":"10.2478/jeb-2019-0009","DOIUrl":"https://doi.org/10.2478/jeb-2019-0009","url":null,"abstract":"Abstract This paper deals with the influence of competition on soundness of Croatian insurers using the Boone indicator when measuring competition. The authors analyse Croatian insurers that operated over the pre-EU accession period 2008 – 2012 as well as in the period 2013 – 2017, i.e. after the accession to the EU. Several firm-level, industry-level and macroeconomic variables are used in the research. The findings of the analysis are twofold. Specifically, the Boone indicator reveals the impact of competition on the performance of efficient insurers in post-EU accession period only accounting for the reallocation effects proving that efficient insurers make higher profits. Regarding the determinants of the insurers’ soundness, premium to surplus ratio and inflation rate play significant role in pre - EU accession period whereas reinsurance and GDP growth rate are statistically significant after EU accession. Moreover, the competition increased in the years after the EU accession. Robustness check provides similar results.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43247835","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 examine performance of pension funds in Croatia, or more precisely, to measure the technical efficiency of mandatory pension funds. The main role of the pension funds is to collect and invest the money contributed by the employer or the employee during working years until retirement. Therefore, development of pension funds as institutional investors is especially important for capital markets as well as for the whole economy. By applying the methodology of data envelopment analysis on a sample of 12 DMUs, i.e. four mandatory pension funds divided into three categories (A, B or C) for 2015-2018 period, we provide further evidence on their efficiency level. The results have shown very small differences among relative inefficient pension funds.
{"title":"The Efficiency of Mandatory Pension Funds: Case of Croatia","authors":"Bojana Olgić Draženović, S. Hodžić, D. Maradin","doi":"10.2478/jeb-2019-0015","DOIUrl":"https://doi.org/10.2478/jeb-2019-0015","url":null,"abstract":"Abstract The aim of this paper is to examine performance of pension funds in Croatia, or more precisely, to measure the technical efficiency of mandatory pension funds. The main role of the pension funds is to collect and invest the money contributed by the employer or the employee during working years until retirement. Therefore, development of pension funds as institutional investors is especially important for capital markets as well as for the whole economy. By applying the methodology of data envelopment analysis on a sample of 12 DMUs, i.e. four mandatory pension funds divided into three categories (A, B or C) for 2015-2018 period, we provide further evidence on their efficiency level. The results have shown very small differences among relative inefficient pension funds.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48270474","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}
Tomasz Skica, Małgorzata Leśniowska-Gontarz, Katarzyna M. Miszczyńska
Abstract The aim of the paper is to build a ranking of municipalities due to their level of efficiency from the development point of view. According to the aim, it is possible to find out which indicators are crucial for the efficiency of municipalities in terms of sustainability. The research study involved DEA (Data Envelopment Analysis) approach. Conducted research study covered 2044 Polish municipalities in the year 2016. The ranking of Polish municipalities was prepared with the use of the DEA model. The DEA method made it possible to set goals for inefficient municipalities, which should follow and regularly evaluate the progress in the implementation of their aims. Inefficient municipalities can improve their efficiency following the technological example of chosen benchmarks.
{"title":"Measuring the Efficiency of Polish Municipalities – Data Envelopment Analysis Approach","authors":"Tomasz Skica, Małgorzata Leśniowska-Gontarz, Katarzyna M. Miszczyńska","doi":"10.2478/jeb-2019-0013","DOIUrl":"https://doi.org/10.2478/jeb-2019-0013","url":null,"abstract":"Abstract The aim of the paper is to build a ranking of municipalities due to their level of efficiency from the development point of view. According to the aim, it is possible to find out which indicators are crucial for the efficiency of municipalities in terms of sustainability. The research study involved DEA (Data Envelopment Analysis) approach. Conducted research study covered 2044 Polish municipalities in the year 2016. The ranking of Polish municipalities was prepared with the use of the DEA model. The DEA method made it possible to set goals for inefficient municipalities, which should follow and regularly evaluate the progress in the implementation of their aims. Inefficient municipalities can improve their efficiency following the technological example of chosen benchmarks.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49093033","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 goal of this study is to investigate whether higher (cost-effective) operational efficiency in restaurants can be achieved without lowering the perceived level of service quality. This study also investigates the importance of restaurants’ size on operational efficiency and on the perceived level of service quality. We present the methodological procedures used to investigate the relationships among restaurants’ operational efficiency, size, and service quality after presenting the conceptualization of the cost-effective service excellence (CESE) research construct. The restaurants’ efficiency was assessed using Data Envelopment Analyses and the DINESERV tool was implemented to analyse guests’ perceptions of service quality. Guests of low- and high-efficient restaurants perceive service quality based on the same quality dimensions. Based on the structural equation modelling, it is evident that CESE can be achieved in the restaurant industry. The restaurant size has proven to influence restaurants’ operational efficiency and guests’ quality perceptions.
{"title":"Cost-Effective Service Excellence: Exploring the Relationships Among Restaurants’ Operational Efficiency, Size and Service Quality","authors":"Marko Kukanja, T. Planinc","doi":"10.2478/jeb-2019-0014","DOIUrl":"https://doi.org/10.2478/jeb-2019-0014","url":null,"abstract":"Abstract The main goal of this study is to investigate whether higher (cost-effective) operational efficiency in restaurants can be achieved without lowering the perceived level of service quality. This study also investigates the importance of restaurants’ size on operational efficiency and on the perceived level of service quality. We present the methodological procedures used to investigate the relationships among restaurants’ operational efficiency, size, and service quality after presenting the conceptualization of the cost-effective service excellence (CESE) research construct. The restaurants’ efficiency was assessed using Data Envelopment Analyses and the DINESERV tool was implemented to analyse guests’ perceptions of service quality. Guests of low- and high-efficient restaurants perceive service quality based on the same quality dimensions. Based on the structural equation modelling, it is evident that CESE can be achieved in the restaurant industry. The restaurant size has proven to influence restaurants’ operational efficiency and guests’ quality perceptions.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49254695","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 this paper is to investigate the productivity changes of microfinance institutions (MFIs) in Bosnia and Herzegovina (BiH) during and after the recent financial crisis. The study covers the period starting from 2008 until 2015. Using the Malmquist Productivity Index (MPI) over the sample of 10 MFIs and a balanced panel dataset of 80 observations, this study explores technical and technological change as well as total factor productivity (TFP) change. The empirical findings indicate a decline in TFP in most of the analyzed periods with an average decrease of 2.5%. The study reveals an average technological decline in the industry of 1.7%, while technical efficiency change is recorded at the level of -0.8%. Overall, crisis efficiency recovery occurred during the period between 2009 and 2013. However, due to technological inefficiencies, average total factor productivity change remains negative. Hence, policy makers need to enhance the technological progress in order to meet their strategic objectives in BiH MFIs.
{"title":"Productivity Change of Microfinance Institutions in Bosnia and Herzegovina","authors":"Velid Efendić, Nejra Hadžiahmetović","doi":"10.2478/jeb-2019-0011","DOIUrl":"https://doi.org/10.2478/jeb-2019-0011","url":null,"abstract":"Abstract The main aim of this paper is to investigate the productivity changes of microfinance institutions (MFIs) in Bosnia and Herzegovina (BiH) during and after the recent financial crisis. The study covers the period starting from 2008 until 2015. Using the Malmquist Productivity Index (MPI) over the sample of 10 MFIs and a balanced panel dataset of 80 observations, this study explores technical and technological change as well as total factor productivity (TFP) change. The empirical findings indicate a decline in TFP in most of the analyzed periods with an average decrease of 2.5%. The study reveals an average technological decline in the industry of 1.7%, while technical efficiency change is recorded at the level of -0.8%. Overall, crisis efficiency recovery occurred during the period between 2009 and 2013. However, due to technological inefficiencies, average total factor productivity change remains negative. Hence, policy makers need to enhance the technological progress in order to meet their strategic objectives in BiH MFIs.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49006858","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 goal of the paper is to estimate relative importance of channels of technological diffusion between new member states and core EU countries. Based on neoclassical growth theory and extensive literature survey on technological diffusion we explore movements in the relative TFP in EU member states and try to identify relative importance of channels of technological diffusion as suggested by theory: imports, exports, FDI, R&D, human capital and fixed capital formation, etc. In the first step we employ Phillips and Sul (2007) log t test which has power to detect convergence even in the absence of cointegration between time series. In the second part we employ Abrigo and Love (2016) PVAR model in order to detect channels of diffusion of technology. The data is sampled from Eurostat and PWT repository and covers the period from 1995-2016 for panel analysis and 1950-2014 for TFP convergence analysis. Our results indicate that in the overall sample FDI and R&D are major drivers of technological change, while, contrary to conventional wisdom, trade openness and human capital are dominant channels for TFP diffusion in periphery countries. The overall results point that productivity gap reduction is a heterogeneous process, country specific problem, but on average in the periphery it can be supported through various economic policies focused on openness and human capital.
{"title":"Endogenous Convergence and International Technological Diffusion Channels","authors":"J. Tica, Luka Šikić","doi":"10.2478/jeb-2019-0012","DOIUrl":"https://doi.org/10.2478/jeb-2019-0012","url":null,"abstract":"Abstract The goal of the paper is to estimate relative importance of channels of technological diffusion between new member states and core EU countries. Based on neoclassical growth theory and extensive literature survey on technological diffusion we explore movements in the relative TFP in EU member states and try to identify relative importance of channels of technological diffusion as suggested by theory: imports, exports, FDI, R&D, human capital and fixed capital formation, etc. In the first step we employ Phillips and Sul (2007) log t test which has power to detect convergence even in the absence of cointegration between time series. In the second part we employ Abrigo and Love (2016) PVAR model in order to detect channels of diffusion of technology. The data is sampled from Eurostat and PWT repository and covers the period from 1995-2016 for panel analysis and 1950-2014 for TFP convergence analysis. Our results indicate that in the overall sample FDI and R&D are major drivers of technological change, while, contrary to conventional wisdom, trade openness and human capital are dominant channels for TFP diffusion in periphery countries. The overall results point that productivity gap reduction is a heterogeneous process, country specific problem, but on average in the periphery it can be supported through various economic policies focused on openness and human capital.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46330392","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 Eastern enlargements of the European Union (EU) since the early 2000s have included post-transitional economies at a lower level of development than the existing member states and thus, have significantly affected the East-West migration flows and labour markets on both sides. This has provided a distinctive opportunity to study the effects of liberalisation and to identify economic factors leading to migration flows with the purpose of enabling better estimations of future migration trends. In this research, a panel data analysis with pair of country fixed effects and time fixed effects is used to explore several pull and push factors of the East-West EU migration flows in the period from 2000 to 2017. Results indicate that emigration rate responds rather quickly to the changes in GDP per capita and unemployment rate of the youth population in immigration country, with statistically significant elasticity coefficients, suggesting that international migration contributes significantly to adjusting the labour supply to fluctuations in economic activity.
{"title":"Determinants of Migration Following the EU Enlargement: A Panel Data Analysis","authors":"Sanja Franc, Anita Čeh Časni, Antea Barisic","doi":"10.2478/jeb-2019-0010","DOIUrl":"https://doi.org/10.2478/jeb-2019-0010","url":null,"abstract":"Abstract The Eastern enlargements of the European Union (EU) since the early 2000s have included post-transitional economies at a lower level of development than the existing member states and thus, have significantly affected the East-West migration flows and labour markets on both sides. This has provided a distinctive opportunity to study the effects of liberalisation and to identify economic factors leading to migration flows with the purpose of enabling better estimations of future migration trends. In this research, a panel data analysis with pair of country fixed effects and time fixed effects is used to explore several pull and push factors of the East-West EU migration flows in the period from 2000 to 2017. Results indicate that emigration rate responds rather quickly to the changes in GDP per capita and unemployment rate of the youth population in immigration country, with statistically significant elasticity coefficients, suggesting that international migration contributes significantly to adjusting the labour supply to fluctuations in economic activity.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43417855","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}
G. Andrii, Yuliia Popova, Oksana Bodnaruk, Yuliia Zaika, E. Chuprina, Shapovalenko Denys, Kolonataievskyi Oleg
Abstract Demand for high-quality shopping service has seen continuous growth in the recent years, allowing retail chains to achieve sustainable competitive advantage, increase number of loyal customers. This in-turn results in demand boosting and image of the firm. To analyze and achieve this emotional reactions of customers while shopping becomes important. The paper attempts to evaluate the effect of emotional fatigue on purchase process and uses neuromarketing tool – Galvanic skin reaction analysis to do so. Changes in the buyer emotional reaction of consumers was observed through more than 150 experiments at 15 different retailers. The results showed that retailer selection depended on emotional fatigue of the customer. Different types of retailers create different emotional fatigue which affects the footfall.
{"title":"Attractiveness Modeling of Retail on Emotional Fatigue of Consumers","authors":"G. Andrii, Yuliia Popova, Oksana Bodnaruk, Yuliia Zaika, E. Chuprina, Shapovalenko Denys, Kolonataievskyi Oleg","doi":"10.2478/jeb-2019-0017","DOIUrl":"https://doi.org/10.2478/jeb-2019-0017","url":null,"abstract":"Abstract Demand for high-quality shopping service has seen continuous growth in the recent years, allowing retail chains to achieve sustainable competitive advantage, increase number of loyal customers. This in-turn results in demand boosting and image of the firm. To analyze and achieve this emotional reactions of customers while shopping becomes important. The paper attempts to evaluate the effect of emotional fatigue on purchase process and uses neuromarketing tool – Galvanic skin reaction analysis to do so. Changes in the buyer emotional reaction of consumers was observed through more than 150 experiments at 15 different retailers. The results showed that retailer selection depended on emotional fatigue of the customer. Different types of retailers create different emotional fatigue which affects the footfall.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48154878","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：