Pub Date : 2022-06-01DOI: 10.5709/ce.1897-9254.479
N. M. Dat, N. Q. Dai, P. B. Ngoc
All the organizations are striving for the high financial performance that could influence by many factors and attained the attention of regulators and recent studies. Thus, the present study examined the impact of corporate social responsibilities (CSR), entrepreneurship and financial factors such as leverage and liquidity along with firm size on the financial performance of the banks in ASEAN countries. This study has adopted the quantitative methods for the collecting data and gathered the published secondary data from the statements. The data has been extracted from the financial statements and published CSR reports of the banks in ASEAN countries from 2015 to 2020. The ongoing study has executed the robust standard error and fixed effect model (FEM) to examine the relationships among the variables. The results indicated that CSR, entrepreneurship, leverage, liquidity and firm size have significant and positive nexus with financial performance of the banks in ASEAN countries. These outcomes have provided the guidelines to the regulators of the banks that they should focus on CSR and entrepreneurship that could increase the financial performance of the banks.
{"title":"The Impact of Corporate Social Responsibilities (CSR), Entrepreneurship, and Financial Factors on the Financial Performance of the Banks in ASEAN Countries","authors":"N. M. Dat, N. Q. Dai, P. B. Ngoc","doi":"10.5709/ce.1897-9254.479","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.479","url":null,"abstract":"All the organizations are striving for the high financial performance that could influence by many factors and attained the attention of regulators and recent studies. Thus, the present study examined the impact of corporate social responsibilities (CSR), entrepreneurship and financial factors such as leverage and liquidity along with firm size on the financial performance of the banks in ASEAN countries. This study has adopted the quantitative methods for the collecting data and gathered the published secondary data from the statements. The data has been extracted from the financial statements and published CSR reports of the banks in ASEAN countries from 2015 to 2020. The ongoing study has executed the robust standard error and fixed effect model (FEM) to examine the relationships among the variables. The results indicated that CSR, entrepreneurship, leverage, liquidity and firm size have significant and positive nexus with financial performance of the banks in ASEAN countries. These outcomes have provided the guidelines to the regulators of the banks that they should focus on CSR and entrepreneurship that could increase the financial performance of the banks.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77468874","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.462
M. Aluchna, T. Kuszewski
This paper examines the effects of pyramidal ownership. Using the sample of 162 non-financial companies listed on the Warsaw Stock Exchange during the period 2010-2014, we verify the relation between the adoption of a pyramidal structure and company value. Specifically, we show that the link between pyramidal ownership and company value is more complex than previously thought addressing the aspect of ownership concentration and dual class shares. Our results indicate that the use of pyramids is associated with a higher value measured by Tobin’s Q, supporting the efficient monitoring hypothesis. Contrary to our expectations the combination of pyramidal ownership and dual class shares is correlated with lower Q. Finally, while the adoption of a pyramid by a majority shareholder does not impact firm value, the combination of a pyramid, ownership concentration and dual class shares is associated with higher Q. This finding suggests that the blockholder ownership outweighs the possible cost of excessive disproportionate ownership and that pyramids and dual class shares have different effects on company value.
{"title":"Pyramidal Ownership and Company Value: Evidence from Polish Listed Companies","authors":"M. Aluchna, T. Kuszewski","doi":"10.5709/ce.1897-9254.462","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.462","url":null,"abstract":"This paper examines the effects of pyramidal ownership. Using the sample of 162 non-financial companies listed on the Warsaw Stock Exchange during the period 2010-2014, we verify the relation between the adoption of a pyramidal structure and company value. Specifically, we show that the link between pyramidal ownership and company value is more complex than previously thought addressing the aspect of ownership concentration and dual class shares. Our results indicate that the use of pyramids is associated with a higher value measured by Tobin’s Q, supporting the efficient monitoring hypothesis. Contrary to our expectations the combination of pyramidal ownership and dual class shares is correlated with lower Q. Finally, while the adoption of a pyramid by a majority shareholder does not impact firm value, the combination of a pyramid, ownership concentration and dual class shares is associated with higher Q. This finding suggests that the blockholder ownership outweighs the possible cost of excessive disproportionate ownership and that pyramids and dual class shares have different effects on company value.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74627504","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.456
Paweł Felis, Grzegorz Gołębiowski
This study examines the size and diversity of tax expenditures (TEs) by gminas (municipalities) in Poland between 2007 and 2019. Consequences of gminas' taxing power and the reduction of revenues resulting from statutory tax preferences were taken into account. To analyze the data, we used: scatter graphs (showing the relationship between two selected variables) and plot graphs (showing the course of the values of the studied variables over time, to show the dynamics of the phenomena). The scatter graphs showed, sometimes strong, linear correlative relationships. No clear curvilinear relationships were found, therefore we applied Pearson correlation. Gminas used TEs to a small but also highly variable extent. The factors determining their use involved: the type and potential of the gmina; the type of local tax. The research hypothesis was partially positively verified. The increase in the incremental % of TEs' share in tax revenue has a positive impact on the incremental trend of revenue growth in the following year. The use of TEs in real estate and vehicle taxes may have strengthened the revenue potential of some gminas in the consecutive years.
{"title":"Tax Expenditures in Local Taxes - an Effective Instrument of Local Tax Policy? The Example of Poland","authors":"Paweł Felis, Grzegorz Gołębiowski","doi":"10.5709/ce.1897-9254.456","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.456","url":null,"abstract":"This study examines the size and diversity of tax expenditures (TEs) by gminas (municipalities) in Poland between 2007 and 2019. Consequences of gminas' taxing power and the reduction of revenues resulting from statutory tax preferences were taken into account. To analyze the data, we used: scatter graphs (showing the relationship between two selected variables) and plot graphs (showing the course of the values of the studied variables over time, to show the dynamics of the phenomena). The scatter graphs showed, sometimes strong, linear correlative relationships. No clear curvilinear relationships were found, therefore we applied Pearson correlation. Gminas used TEs to a small but also highly variable extent. The factors determining their use involved: the type and potential of the gmina; the type of local tax. The research hypothesis was partially positively verified. The increase in the incremental % of TEs' share in tax revenue has a positive impact on the incremental trend of revenue growth in the following year. The use of TEs in real estate and vehicle taxes may have strengthened the revenue potential of some gminas in the consecutive years.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83649816","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.458
Agata Sierpińska-Sawicz, Maria Sierpińska
The issue discussed in the paper is highly relevant and topical in economic practice because of changes in the recognition of certain assets and their depreciation. The author’s research established that depreciation write-off in financial terms constitute capital comprising two components: depreciation and the tax shield effect. The non-tax shield is more important relative to other tax shields because the vast majority of entities in the raw materials industry own assets which are depreciated for the purposes of balance sheet accounting and tax accounting. As a cost depreciation, on the one hand, reduces the financial result and on the other, generates additional operating cash flows. Depreciable assets account for a large portion of coal companies’ assets. In addition, due to the implementation of IFRS 16 on leasing their share increased as did the amount of depreciation. Hence, its share in operating cash flows in Polish coal companies is slightly higher than in global companies. An overwhelming part of the additional depreciation arising from the inclusion in the assets reported in the balance sheet of assets used based on contracts of lease, lending or rental does not reduce the tax basis and does not constitute a tax shield. Consequently, it creates a disparity between the gross profit/loss and taxable income, thereby increasing the effective tax rate. An increase in the depreciation level in coal companies facilitates maintenance of liquidity and provides financing for investment projects and improves debt servicing, especially in times of declining financial result when coal prices are low.
{"title":"Depreciation Capital as a Source of Financing of Mining Companies Activities","authors":"Agata Sierpińska-Sawicz, Maria Sierpińska","doi":"10.5709/ce.1897-9254.458","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.458","url":null,"abstract":"The issue discussed in the paper is highly relevant and topical in economic practice because of changes in the recognition of certain assets and their depreciation. The author’s research established that depreciation write-off in financial terms constitute capital comprising two components: depreciation and the tax shield effect. The non-tax shield is more important relative to other tax shields because the vast majority of entities in the raw materials industry own assets which are depreciated for the purposes of balance sheet accounting and tax accounting. As a cost depreciation, on the one hand, reduces the financial result and on the other, generates additional operating cash flows. Depreciable assets account for a large portion of coal companies’ assets. In addition, due to the implementation of IFRS 16 on leasing their share increased as did the amount of depreciation. Hence, its share in operating cash flows in Polish coal companies is slightly higher than in global companies. An overwhelming part of the additional depreciation arising from the inclusion in the assets reported in the balance sheet of assets used based on contracts of lease, lending or rental does not reduce the tax basis and does not constitute a tax shield. Consequently, it creates a disparity between the gross profit/loss and taxable income, thereby increasing the effective tax rate. An increase in the depreciation level in coal companies facilitates maintenance of liquidity and provides financing for investment projects and improves debt servicing, especially in times of declining financial result when coal prices are low.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86612774","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.455
A. M. Kłopocka, Ryszard Wilczyński
This paper contributes to the literature on the effects of uncertainty on household saving – a long-standing and extensively explored topic yet leaving a number of issues inconclusive. It concentrates on the labor income uncertainty by addressing saving against unemployment risk in terms of changes in credit supply and households’ financial wealth. Time series analysis uses dataset of quarterly observations from 2003 Q4 to 2019 Q3 for Poland. It provides empirical evidence of the negative relationship of changes in households’ financial wealth and credit availability with the household propensity to save, in line with the buffer saving model. Furthermore, it contributes to the discussion on the choice of uncertainty measures referring to the labor market with a recommendation to employ the subjective (perceived) unemployment expectation index rather than the objective unemployment rate. These results are meaningful for policy implications. They emphasize the role of credit availability for household consumption/saving decisions. In case of expansionary monetary policy and making credit easier to acquire for households, all other things equal, a negative effect on the household saving rate may be expected. This poses a question about the risk of households’ overreliance on credit and therefore about their financial stability in emergency situations.
{"title":"Do Credit Supply and Unemployment Risk Matter for Household Saving? Evidence from Poland","authors":"A. M. Kłopocka, Ryszard Wilczyński","doi":"10.5709/ce.1897-9254.455","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.455","url":null,"abstract":"This paper contributes to the literature on the effects of uncertainty on household saving – a long-standing and extensively explored topic yet leaving a number of issues inconclusive. It concentrates on the labor income uncertainty by addressing saving against unemployment risk in terms of changes in credit supply and households’ financial wealth. Time series analysis uses dataset of quarterly observations from 2003 Q4 to 2019 Q3 for Poland. It provides empirical evidence of the negative relationship of changes in households’ financial wealth and credit availability with the household propensity to save, in line with the buffer saving model. Furthermore, it contributes to the discussion on the choice of uncertainty measures referring to the labor market with a recommendation to employ the subjective (perceived) unemployment expectation index rather than the objective unemployment rate. These results are meaningful for policy implications. They emphasize the role of credit availability for household consumption/saving decisions. In case of expansionary monetary policy and making credit easier to acquire for households, all other things equal, a negative effect on the household saving rate may be expected. This poses a question about the risk of households’ overreliance on credit and therefore about their financial stability in emergency situations.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79641380","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.460
Waldemar Jędrzejczyk, S. Brzeziński
The subject of the article relates to the use of social media in organizational activities aimed at creating a positive image of an organization. The image is an important element of the organization’s strategy—it shapes its distinctiveness, distinguishes it from competitors, and determines how the organization is perceived in the environment. Image is created at the interconnection between the organization and its stakeholders. A significant role in the process of shaping the image is played by marketing communication, which is subjected to increased virtualization due to the progressing digital transformation. The attributes of social media predestine them to be used in the process of image creation. The main purpose of this article is to assess the importance of social media in the process of managing the image of educational institutions. The rules of the market economy apply not only to business organizations but also increasingly to other types of organizations, including educational institutions. Following the example of enterprises, educational institutions must also build a positive image of the organization. In the presented empirical research results, the research subject was narrowed down to one type of educational institution, namely secondary schools. The research has shown that all analyzed schools use social media and the school’s website as tools to promote and build their image in the local community. Unfortunately, the effectiveness of using these tools is low.
{"title":"The Importance of Social Media in Managing the Image of the Educational Institutions","authors":"Waldemar Jędrzejczyk, S. Brzeziński","doi":"10.5709/ce.1897-9254.460","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.460","url":null,"abstract":"The subject of the article relates to the use of social media in organizational activities aimed at creating a positive image of an organization. The image is an important element of the organization’s strategy—it shapes its distinctiveness, distinguishes it from competitors, and determines how the organization is perceived in the environment. Image is created at the interconnection between the organization and its stakeholders. A significant role in the process of shaping the image is played by marketing communication, which is subjected to increased virtualization due to the progressing digital transformation. The attributes of social media predestine them to be used in the process of image creation. The main purpose of this article is to assess the importance of social media in the process of managing the image of educational institutions. The rules of the market economy apply not only to business organizations but also increasingly to other types of organizations, including educational institutions. Following the example of enterprises, educational institutions must also build a positive image of the organization. In the presented empirical research results, the research subject was narrowed down to one type of educational institution, namely secondary schools. The research has shown that all analyzed schools use social media and the school’s website as tools to promote and build their image in the local community. Unfortunately, the effectiveness of using these tools is low.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88739164","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.459
R. Wiśniewski, Inga Oleksiuk, B. Iwanowska
The main objective of the paper is to identify the imbalance between the right to privacy and the business objectives of entities creating new Data-Driven Business Models (DDBMs) of consumers (EU citizens). Information about the consumer and their characteristics has nowadays become a service or market commodity thanks to which new economic processes, based on the use of advanced data processing technologies, are created. In digital space, new types of DDBM are established, which provide entrepreneurs with added value, based on the mass use of the consumer’s data collected often without their knowledge, on the margins of legality. This paper analyzes the impact of the development of DDBMs on selected privacy areas: personal data, the right to be forgotten, confidentiality of communications, one’s image and identity. In each of these areas, situations are identified that indicate a progressive re-evaluation of citizens’ privacy rights. The authors suggest that disruption of the balance between the right to privacy and business objectives may lead to unambiguous consequences, not only for the consumer (EU citizen), but also for the business entities.
{"title":"Privacy of European Citizens in the Face of the Development of New Data- Driven Business Models","authors":"R. Wiśniewski, Inga Oleksiuk, B. Iwanowska","doi":"10.5709/ce.1897-9254.459","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.459","url":null,"abstract":"The main objective of the paper is to identify the imbalance between the right to privacy and the business objectives of entities creating new Data-Driven Business Models (DDBMs) of consumers (EU citizens). Information about the consumer and their characteristics has nowadays become a service or market commodity thanks to which new economic processes, based on the use of advanced data processing technologies, are created. In digital space, new types of DDBM are established, which provide entrepreneurs with added value, based on the mass use of the consumer’s data collected often without their knowledge, on the margins of legality. This paper analyzes the impact of the development of DDBMs on selected privacy areas: personal data, the right to be forgotten, confidentiality of communications, one’s image and identity. In each of these areas, situations are identified that indicate a progressive re-evaluation of citizens’ privacy rights. The authors suggest that disruption of the balance between the right to privacy and business objectives may lead to unambiguous consequences, not only for the consumer (EU citizen), but also for the business entities.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90987763","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.457
R. Nowacki
Intensification of globalization processes in the contemporary world entails consequences for all areas of socio-economic life. The latter concerns also advertising, which is particularly sensitive to the developments occurring in the global environment. Expansion into foreign markets presents enterprises with the dilemma of how to advertise their products and services. The specific question which appears in this context is whether to use standardized or adapted advertising. The attitude of the audience on the target market is of key importance. The present article also focuses on the impact of globalization on the recipients’ perception of the advertising activity of foreign companies operating in the Polish market. Assessment of the degree of acceptance of foreign enterprises’ standardized advertising activities on the Polish market, their attractiveness and impact on competitiveness, from the perspective of Polish consumers. The basis for the study are the findings of a survey conducted in 2019 and 2020 on a sample of Polish consumers aged 15+ selected using the quota method. The subject of the research were opinions on advertising activities used on the Polish market by foreign companies, taking into account the differentiation into global and adapted advertising. The respondents assessed the level of attractiveness and acceptance of activities related to advertising standardization procedures. The results of the research indicate that Polish consumers perceive the globalization of advertising and have mixed feelings about it. On the one hand, they appreciate the attractiveness of standardized advertisements, on the other, they assess their effectiveness as worse. However, the respondents also point out that they have a positive impact on the competitiveness of foreign companies. The perception of standardized advertising is generally not dependent on demographic characteristics. There is only a slight direct effect of age on the perception of attractiveness and effectiveness of standardized and adapted advertising.
{"title":"Global or Adapted Advertising? Consumer Evaluation of Advertising Activity of Foreign Enterprises on the Polish Market","authors":"R. Nowacki","doi":"10.5709/ce.1897-9254.457","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.457","url":null,"abstract":"Intensification of globalization processes in the contemporary world entails consequences for all areas of socio-economic life. The latter concerns also advertising, which is particularly sensitive to the developments occurring in the global environment. Expansion into foreign markets presents enterprises with the dilemma of how to advertise their products and services. The specific question which appears in this context is whether to use standardized or adapted advertising. The attitude of the audience on the target market is of key importance. The present article also focuses on the impact of globalization on the recipients’ perception of the advertising activity of foreign companies operating in the Polish market. Assessment of the degree of acceptance of foreign enterprises’ standardized advertising activities on the Polish market, their attractiveness and impact on competitiveness, from the perspective of Polish consumers. The basis for the study are the findings of a survey conducted in 2019 and 2020 on a sample of Polish consumers aged 15+ selected using the quota method. The subject of the research were opinions on advertising activities used on the Polish market by foreign companies, taking into account the differentiation into global and adapted advertising. The respondents assessed the level of attractiveness and acceptance of activities related to advertising standardization procedures. The results of the research indicate that Polish consumers perceive the globalization of advertising and have mixed feelings about it. On the one hand, they appreciate the attractiveness of standardized advertisements, on the other, they assess their effectiveness as worse. However, the respondents also point out that they have a positive impact on the competitiveness of foreign companies. The perception of standardized advertising is generally not dependent on demographic characteristics. There is only a slight direct effect of age on the perception of attractiveness and effectiveness of standardized and adapted advertising.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88587964","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}
Pub Date : 2021-12-24DOI: 10.5709/ce.1897-9254.461
T. Szopiński
In the era of open banking, the phenomenon of bank switching will intensify. The aim of the current study is to answer the following question: is switching, or not switching banks, a result of conscious and independent decision-making? The results from primary data demonstrate that the switching group clients are more conscious than non-switching group clients. They are more likely to compare offers from different banks, visit blogs about finances, demonstrate independence in making financial decisions, and use more service providers which improves their knowledge concerning the offers. The analysis of perceptual maps shows that the switching group is differentiated by various switching costs.
{"title":"Impact of Consumer Awareness on Switching Behavior in Banking","authors":"T. Szopiński","doi":"10.5709/ce.1897-9254.461","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.461","url":null,"abstract":"In the era of open banking, the phenomenon of bank switching will intensify. The aim of the current study is to answer the following question: is switching, or not switching banks, a result of conscious and independent decision-making? The results from primary data demonstrate that the switching group clients are more conscious than non-switching group clients. They are more likely to compare offers from different banks, visit blogs about finances, demonstrate independence in making financial decisions, and use more service providers which improves their knowledge concerning the offers. The analysis of perceptual maps shows that the switching group is differentiated by various switching costs.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89878840","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}
Pub Date : 2021-12-01DOI: 10.5709/ce.1897-9254.463
Marcin Kawiński, T. Szumlicz
The concept of income security is almost 80 years old but its implementation, nevertheless, poses a serious social security problem. How is this problem seen today by those most concerned, family households? What is the perception of contingencies listed in the International Labour Organization’s (ILO) recommendation? Human responses to risk (behaviour under risk) depend primarily on a perception of risk and disability risk is not different in this respect. It is a major social risk, a part of the list of social risks, and tends to be critical due to financialization and liabilities. This paper aims to find determinants for differences in the perception of disability risk in Poland. The research covers particular determinants and employs qualitative and quantitative methods to analyse such determinants. The qualitative study suggests that the risk of disability is not a primary consideration. The perception of that risk seems to be diverse. Pending liabilities are perceived as arising primarily due to unemployment rather than the lack of fitness for work. An analysis of quantitative data shows statistical importance of chosen determinants (gender, experience regarding disability within family, age, the level of education, and self-estimation of financial situation). However, their significance is limited. Age and education level seem to be most prospective. Young and highly educated people tend to perceive disability risk as relatively low. These are also the people who face the most significant financial consequences of disability.
{"title":"Income Security and the Perception of Disability Risk","authors":"Marcin Kawiński, T. Szumlicz","doi":"10.5709/ce.1897-9254.463","DOIUrl":"https://doi.org/10.5709/ce.1897-9254.463","url":null,"abstract":"The concept of income security is almost 80 years old but its implementation, nevertheless, poses a serious social security problem. How is this problem seen today by those most concerned, family households? What is the perception of contingencies listed in the International Labour Organization’s (ILO) recommendation? Human responses to risk (behaviour under risk) depend primarily on a perception of risk and disability risk is not different in this respect. It is a major social risk, a part of the list of social risks, and tends to be critical due to financialization and liabilities. This paper aims to find determinants for differences in the perception of disability risk in Poland. The research covers particular determinants and employs qualitative and quantitative methods to analyse such determinants. The qualitative study suggests that the risk of disability is not a primary consideration. The perception of that risk seems to be diverse. Pending liabilities are perceived as arising primarily due to unemployment rather than the lack of fitness for work. An analysis of quantitative data shows statistical importance of chosen determinants (gender, experience regarding disability within family, age, the level of education, and self-estimation of financial situation). However, their significance is limited. Age and education level seem to be most prospective. Young and highly educated people tend to perceive disability risk as relatively low. These are also the people who face the most significant financial consequences of disability.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75806232","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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