Abstract Happiness and work satisfaction have been the focus of many studies in the last decade. The literature suggests three main dimensions of the quest for happiness ― pleasure, meaning, and engagement. While goal setting has been identified as a prominent process that may support happiness as well as work satisfaction, it has never been addressed as a dimension in the quest for happiness. This study addressed the literature gap, by presenting empirical evidence for the fourth dimension and its effect on work satisfaction. Based on 1077 respondents, Exploratory Factor Analysis (EFA) followed by Confirmatory Factor Analysis (CFA) were employed. Results confirm the existence of an independent fourth dimension, and its effect on job satisfaction and happiness. Although goal setting is a prominent construct to achieve happiness, especially in western culture, this is the first study that validates it as the fourth dimension in the search for happiness, followed by practical implications in the workforce.
{"title":"The Fourth Dimension of Happiness and Work Satisfaction","authors":"Eyal Eckhaus","doi":"10.2478/mmcks-2021-0008","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0008","url":null,"abstract":"Abstract Happiness and work satisfaction have been the focus of many studies in the last decade. The literature suggests three main dimensions of the quest for happiness ― pleasure, meaning, and engagement. While goal setting has been identified as a prominent process that may support happiness as well as work satisfaction, it has never been addressed as a dimension in the quest for happiness. This study addressed the literature gap, by presenting empirical evidence for the fourth dimension and its effect on work satisfaction. Based on 1077 respondents, Exploratory Factor Analysis (EFA) followed by Confirmatory Factor Analysis (CFA) were employed. Results confirm the existence of an independent fourth dimension, and its effect on job satisfaction and happiness. Although goal setting is a prominent construct to achieve happiness, especially in western culture, this is the first study that validates it as the fourth dimension in the search for happiness, followed by practical implications in the workforce.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75249564","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 paper considers the role of the development of corporate social responsibility of Ukrainian nuclear energy producers to ensure the effective functioning of this industry. National sustainable development in all social and economic spheres depends heavily on effective employee management where safety plays the main role. The purpose of the article is to evaluate the development of corporate social responsibility in NNEGC “Energoatom” and identify reserves for improving enterprise employee management. To achieve this goal, the method of SPACE analysis has been modified, because this tool is traditionally used as a method of strategic management. A system of 23 indicators has been developed to evaluate the level of corporate social responsibility in NNEGC Energoatom. Four groups of factors were identified, each of them was assessed by a set of relevant indicators. The article covers the activities of the enterprise during 2016-2020. On the basis of mathematical calculations, the SPACE-analysis matrix is constructed and the strategy of corporate social responsibility development is defined. The evaluation of the level of corporate social responsibility in NNEGC Energoatom indicates a high level of CSR. Despite the effective corporate social responsibility policy in NNEGC Energoatom, some problems still exist. The analysis allowed identifying the ways to improve the corporate social responsibility of nuclear energy producers, particularly to ensure a competitive salary, increase the level of occupational safety, improve the internal communication system. The practical value of the analysis lies in the fact that the modified method of SPACE-analysis can be used to evaluate the corporate social responsibility in different types of enterprises with different aims and objectives.
{"title":"Evaluation of the level of corporate social responsibility of Ukrainian nuclear energy producers","authors":"O. Grishnova, K. Bereziuk, Y. Bilan","doi":"10.2478/mmcks-2021-0010","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0010","url":null,"abstract":"Abstract The paper considers the role of the development of corporate social responsibility of Ukrainian nuclear energy producers to ensure the effective functioning of this industry. National sustainable development in all social and economic spheres depends heavily on effective employee management where safety plays the main role. The purpose of the article is to evaluate the development of corporate social responsibility in NNEGC “Energoatom” and identify reserves for improving enterprise employee management. To achieve this goal, the method of SPACE analysis has been modified, because this tool is traditionally used as a method of strategic management. A system of 23 indicators has been developed to evaluate the level of corporate social responsibility in NNEGC Energoatom. Four groups of factors were identified, each of them was assessed by a set of relevant indicators. The article covers the activities of the enterprise during 2016-2020. On the basis of mathematical calculations, the SPACE-analysis matrix is constructed and the strategy of corporate social responsibility development is defined. The evaluation of the level of corporate social responsibility in NNEGC Energoatom indicates a high level of CSR. Despite the effective corporate social responsibility policy in NNEGC Energoatom, some problems still exist. The analysis allowed identifying the ways to improve the corporate social responsibility of nuclear energy producers, particularly to ensure a competitive salary, increase the level of occupational safety, improve the internal communication system. The practical value of the analysis lies in the fact that the modified method of SPACE-analysis can be used to evaluate the corporate social responsibility in different types of enterprises with different aims and objectives.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88470920","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}
František Pollák, R. Vavrek, J. Váchal, P. Markovič, M. Konečný
Abstract The COVID-19 pandemic has redefined procedures in every business sector. In the first half of 2020, companies had to face an unexpected and unpredictable situation that resulted in both threats and opportunities in real time. Almost overnight, brick-and-mortar establishments of most stores closed, and the dominant part of transactions and activities moved from offline to the online environment. The main goal of the paper is to identify changes in the interactions of digital customer communities of selected e-business representatives in the Czech market. Within a sample of almost one and a half million Facebook users, during the first spring COVID-19 lockdown (March to May 2020), the interactions of the five largest Czech e-shops and their customers were recorded on a daily basis. The data were then subjected to a thorough statistical analysis in order to identify the specifics that resulted from the highly non-standard market situation. The results suggest that during the pandemic, there was a major reallocation of interactions in terms of their timing. Most interactions take place during the working week. From a day-to-day perspective, most of the interactions occur at around noon. In view of the findings, it can be stated that in order to maintain the competitiveness resulting from efficient management of corporate resources, it will be necessary to modify the usual procedures of e-marketing communication, as well as human resources management procedures in terms of the optimization of work of employees working from home.
{"title":"Analysis of Digital Customer Communities in terms of their interactions during the first wave of the COVID-19 pandemic","authors":"František Pollák, R. Vavrek, J. Váchal, P. Markovič, M. Konečný","doi":"10.2478/mmcks-2021-0009","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0009","url":null,"abstract":"Abstract The COVID-19 pandemic has redefined procedures in every business sector. In the first half of 2020, companies had to face an unexpected and unpredictable situation that resulted in both threats and opportunities in real time. Almost overnight, brick-and-mortar establishments of most stores closed, and the dominant part of transactions and activities moved from offline to the online environment. The main goal of the paper is to identify changes in the interactions of digital customer communities of selected e-business representatives in the Czech market. Within a sample of almost one and a half million Facebook users, during the first spring COVID-19 lockdown (March to May 2020), the interactions of the five largest Czech e-shops and their customers were recorded on a daily basis. The data were then subjected to a thorough statistical analysis in order to identify the specifics that resulted from the highly non-standard market situation. The results suggest that during the pandemic, there was a major reallocation of interactions in terms of their timing. Most interactions take place during the working week. From a day-to-day perspective, most of the interactions occur at around noon. In view of the findings, it can be stated that in order to maintain the competitiveness resulting from efficient management of corporate resources, it will be necessary to modify the usual procedures of e-marketing communication, as well as human resources management procedures in terms of the optimization of work of employees working from home.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87997126","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 Common Policies represent one of the fundamental values of European Integration process. Started from coal, steel and energy, the EU common policies were significantly extended overtime. The aim of this study is to analyze the Common Agriculture Policy (CAP) from the perspective of the financing instruments for the members. The paper studies the evolution of these funds overtime, highlighting the major changes and shifts in the priorities and goals of them, their direct impact on the main sectors (including rural area) and the implication of EU enlargement on this important policy. The paper includes a cross-sector panel analysis at the level of European Union and Euro Area on the impact of the net subsidies granted to agriculture and the production volume of this sector overtime. The empirical findings confirmed a positive impact of these net subsidies on the production volume of agro-sectors and the long-run relationship between the tested variables. However, the use of 3 years lags revealed a negative and statistically significant relationship between the dynamic of net subsidies and the production volume for EU and Euro area aggregated production volume dynamic. The analysis gives us the possibility to capture the main tendencies and trends and to draw important conclusions for the further developments of the EU agriculture as the subject of this common policy.
{"title":"The impact of EU’s financial support on the agriculture’s development: a panel data analysis","authors":"C. Păun, C. Ivașcu","doi":"10.2478/mmcks-2021-0006","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0006","url":null,"abstract":"Abstract The Common Policies represent one of the fundamental values of European Integration process. Started from coal, steel and energy, the EU common policies were significantly extended overtime. The aim of this study is to analyze the Common Agriculture Policy (CAP) from the perspective of the financing instruments for the members. The paper studies the evolution of these funds overtime, highlighting the major changes and shifts in the priorities and goals of them, their direct impact on the main sectors (including rural area) and the implication of EU enlargement on this important policy. The paper includes a cross-sector panel analysis at the level of European Union and Euro Area on the impact of the net subsidies granted to agriculture and the production volume of this sector overtime. The empirical findings confirmed a positive impact of these net subsidies on the production volume of agro-sectors and the long-run relationship between the tested variables. However, the use of 3 years lags revealed a negative and statistically significant relationship between the dynamic of net subsidies and the production volume for EU and Euro area aggregated production volume dynamic. The analysis gives us the possibility to capture the main tendencies and trends and to draw important conclusions for the further developments of the EU agriculture as the subject of this common policy.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86992912","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}
John K. Amoah, J. Bélas, Khurram Ajaz Khan, Zdenko Metzker
Abstract Social media has become explosive, permeating every sphere of the socio-cultural lives of individuals and businesses, and causing nations to technologically evolve. The dramatic growth in the adoption and use of social media has become beneficial to Small and Medium Enterprises (SMEs), significantly contributing to resolving a nagging challenge of effectively advertising their goods and services. Consequently, SMEs can achieve business growth and sustainability through increased adoption and harnessing the opportunities provided through the use of social media. The COVID-19 pandemic has provided an impetus for both consumers and SME businesses to leverage interaction through social media, which may lead to business growth. This research thus sets out to identify how social media contributes to the growth of SMEs within a developing country context. To accomplish this objective, primary data was collected from SMEs in the hospitality industry across the sixteen administrative regions of Ghana using survey and simple random sampling techniques. Questionnaires were distributed to the managerial staff of each randomly selected survey participant. Out of the 900 questionnaires distributed, 718 were filled correctly for the data analysis. The researchers quantitatively analyzed the responses using Partial Least Square-Structural Equation Modeling(PLSSEM) statistical software ADANCO 2.0 version. The results indicated that Small and Medium Enterprises are capable of using social media for customer attraction, business marketing strategy, communication channel and increased financial performance.
{"title":"Antecedents of Sustainable SMEs in the Social Media Space: A Partial Least Square-Structural Equation Modeling (PLS-SEM) Approach","authors":"John K. Amoah, J. Bélas, Khurram Ajaz Khan, Zdenko Metzker","doi":"10.2478/mmcks-2021-0003","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0003","url":null,"abstract":"Abstract Social media has become explosive, permeating every sphere of the socio-cultural lives of individuals and businesses, and causing nations to technologically evolve. The dramatic growth in the adoption and use of social media has become beneficial to Small and Medium Enterprises (SMEs), significantly contributing to resolving a nagging challenge of effectively advertising their goods and services. Consequently, SMEs can achieve business growth and sustainability through increased adoption and harnessing the opportunities provided through the use of social media. The COVID-19 pandemic has provided an impetus for both consumers and SME businesses to leverage interaction through social media, which may lead to business growth. This research thus sets out to identify how social media contributes to the growth of SMEs within a developing country context. To accomplish this objective, primary data was collected from SMEs in the hospitality industry across the sixteen administrative regions of Ghana using survey and simple random sampling techniques. Questionnaires were distributed to the managerial staff of each randomly selected survey participant. Out of the 900 questionnaires distributed, 718 were filled correctly for the data analysis. The researchers quantitatively analyzed the responses using Partial Least Square-Structural Equation Modeling(PLSSEM) statistical software ADANCO 2.0 version. The results indicated that Small and Medium Enterprises are capable of using social media for customer attraction, business marketing strategy, communication channel and increased financial performance.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72414333","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 COVID-19 outbreak has created a severe crisis for general economic situation. Despite the short time span of the pandemic, many innovations are implemented for organizational survival and recovery in the competitive market environment of digital age. This paper aims to find out significant factors and how they impact on E-commerce adoption of small and medium enterprises in Vietnam, especially in the epidemic time. The results reveal that technology perceived compatibility has the greatest effect on E-commerce adoption, followed by management support and external pressure. Moreover, external support only has minor impact on E-commerce adoption in the Covid-19. Meaningfully, this study makes contribution to both innovation literature and practical management with new insight of current Vietnamese situation for small and medium organizations.
{"title":"Towards an economic recovery after the COVID-19 pandemic: empirical study on electronic commerce adoption of small and medium enterprises in Vietnam","authors":"Thu Hoang, Huy Khanh Nguyen, Ha Thu Nguyen","doi":"10.2478/mmcks-2021-0004","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0004","url":null,"abstract":"Abstract The COVID-19 outbreak has created a severe crisis for general economic situation. Despite the short time span of the pandemic, many innovations are implemented for organizational survival and recovery in the competitive market environment of digital age. This paper aims to find out significant factors and how they impact on E-commerce adoption of small and medium enterprises in Vietnam, especially in the epidemic time. The results reveal that technology perceived compatibility has the greatest effect on E-commerce adoption, followed by management support and external pressure. Moreover, external support only has minor impact on E-commerce adoption in the Covid-19. Meaningfully, this study makes contribution to both innovation literature and practical management with new insight of current Vietnamese situation for small and medium organizations.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79412299","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 has become a topic of great interest of the 21st century, as it triggers multiple advantages and downsides, both for the people and communities implicated, depending on the policies in place. International migration should not be perceived as an issue that needs to be solved, but rather a global phenomenon that can reduce poverty and foster inclusive growth and sustainable development, both in origin and destination countries. The most highly-skilled immigrants represent a key factor in enhancing innovation and technological change processes, which are essential aspects of social and economic development. The purpose of the study is to analyse the impact of highly educated immigrants (with tertiary-educated immigrant employees and foreign PhD students) together with R&D investments on innovative activity (proxied by the number of patents applications), in the case of the ten countries which joined the EU in 2004. The evaluated time frame is from 2011 to 2017. For the econometric analysis of the panel data, we developed fixed-effects linear regression models, at the country-level. The indicators computed are relevant to the innovative activity. The econometric estimations highlight a positive correlation between educated migrants and the number of patent applications in all ten countries. This nexus is even strengthened when we take into consideration other relevant impact factors, such as investments in R&D and human capital. Therefore, the more efforts and investments are devoted to R&D and highly educated individuals, the more predictable the innovation is.
{"title":"The impact of educated migrants and R&D expenditures on innovation","authors":"Elena-Alexandra Sinoi","doi":"10.2478/mmcks-2021-0002","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0002","url":null,"abstract":"Abstract Migration has become a topic of great interest of the 21st century, as it triggers multiple advantages and downsides, both for the people and communities implicated, depending on the policies in place. International migration should not be perceived as an issue that needs to be solved, but rather a global phenomenon that can reduce poverty and foster inclusive growth and sustainable development, both in origin and destination countries. The most highly-skilled immigrants represent a key factor in enhancing innovation and technological change processes, which are essential aspects of social and economic development. The purpose of the study is to analyse the impact of highly educated immigrants (with tertiary-educated immigrant employees and foreign PhD students) together with R&D investments on innovative activity (proxied by the number of patents applications), in the case of the ten countries which joined the EU in 2004. The evaluated time frame is from 2011 to 2017. For the econometric analysis of the panel data, we developed fixed-effects linear regression models, at the country-level. The indicators computed are relevant to the innovative activity. The econometric estimations highlight a positive correlation between educated migrants and the number of patent applications in all ten countries. This nexus is even strengthened when we take into consideration other relevant impact factors, such as investments in R&D and human capital. Therefore, the more efforts and investments are devoted to R&D and highly educated individuals, the more predictable the innovation is.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77380734","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}
Kristian Suhartadi Widi Nugraha, I. B. Suryaningsih, Ira Dwi Cahyanti
Abstract The development of tourism industry includes the development of rural tourism based on Edu-Tourism. The biggest challenge of this industry is the lack of interest of the tourists to return to the rural tourism or Edu-Tourism destinations. The objectives of the study are to see the influence of destination quality, experience involvement, and memorable tourism experience towards clients’ satisfaction and to establish word of mouth of the rural tourism. Questionnaire were distributed to 200 respondents as the sample of the study. The result of the study showed that destination quality significantly affected tourists’ satisfaction and word of mouth; whereas experience involvement affected memorable tourism experience and tourists’ satisfaction. Furthermore, memorable tourism experience has significant impact on tourists’ satisfaction and word of mouth; and the tourists’ satisfaction significantly influenced word of mouth. The research is unfortunately limited the concept of satisfaction theory, memorable tourism experience and word of mouth theory to the rural tourism destination only rather than other tourism destinations.
{"title":"Destination quality, experience involvement And memorable tourism experience: is it relevant for rural tourism?","authors":"Kristian Suhartadi Widi Nugraha, I. B. Suryaningsih, Ira Dwi Cahyanti","doi":"10.2478/mmcks-2021-0005","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0005","url":null,"abstract":"Abstract The development of tourism industry includes the development of rural tourism based on Edu-Tourism. The biggest challenge of this industry is the lack of interest of the tourists to return to the rural tourism or Edu-Tourism destinations. The objectives of the study are to see the influence of destination quality, experience involvement, and memorable tourism experience towards clients’ satisfaction and to establish word of mouth of the rural tourism. Questionnaire were distributed to 200 respondents as the sample of the study. The result of the study showed that destination quality significantly affected tourists’ satisfaction and word of mouth; whereas experience involvement affected memorable tourism experience and tourists’ satisfaction. Furthermore, memorable tourism experience has significant impact on tourists’ satisfaction and word of mouth; and the tourists’ satisfaction significantly influenced word of mouth. The research is unfortunately limited the concept of satisfaction theory, memorable tourism experience and word of mouth theory to the rural tourism destination only rather than other tourism destinations.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77701613","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 A good pricing strategy helps retailers generate profits, increase sales, and set a strategic position in the market. However, the interactions between retailers and customers add complexity to retailer pricing decisions. This study aims to model retail pricing complexity and analyse retail pricing strategies using an agent-based simulation approach. Two types of agents are modelled: customers and retailers. Customer buying decisions are influenced by several customer preferences factors, while product prices are set according to the retailer’s promotion strategy. The promotion is applied based on the frequency and depth of the price cut. A functional product market is considered in this simulation, representing daily necessities that are purchased regularly, such as foodstuffs and toiletries. The results show that the limited rationality and interactions of each agent drive the unique behaviour of the system, and that each pricing strategy has a different impact on retailer profit and market share. This study provides insights into pricing decision strategies related to price promotion.
{"title":"An agent-based simulation for a trade-off between frequency and depth in retail price promotion strategy","authors":"Adji Candra Kurniawan, N. Arvitrida","doi":"10.2478/mmcks-2021-0001","DOIUrl":"https://doi.org/10.2478/mmcks-2021-0001","url":null,"abstract":"Abstract A good pricing strategy helps retailers generate profits, increase sales, and set a strategic position in the market. However, the interactions between retailers and customers add complexity to retailer pricing decisions. This study aims to model retail pricing complexity and analyse retail pricing strategies using an agent-based simulation approach. Two types of agents are modelled: customers and retailers. Customer buying decisions are influenced by several customer preferences factors, while product prices are set according to the retailer’s promotion strategy. The promotion is applied based on the frequency and depth of the price cut. A functional product market is considered in this simulation, representing daily necessities that are purchased regularly, such as foodstuffs and toiletries. The results show that the limited rationality and interactions of each agent drive the unique behaviour of the system, and that each pricing strategy has a different impact on retailer profit and market share. This study provides insights into pricing decision strategies related to price promotion.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75706483","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 article investigates the determinants of non-performing loans for a panel of EEC countries and the implications for the real economy, covering the period 2005-2017. Among the determinants, the paper proposes macroeconomic factors, banking sector variables, and cost and governance indicators. Additionally, the paper explores the extensive use of macroprudential measures in these countries. Using a panel with fixed effects and a dynamic GMM estimator, the results support the existing findings that adverse macroeconomic developments are generally associated with higher non-performing loans, while increases in NPLs have a rather transitory effect on the real economy and credit. NPL ratios increase if macroeconomic conditions deteriorate, while an improvement in the government effectiveness reduces them. A more profitable and better capitalized banking sector generally leads to lower NPLs. Moreover, countries with higher past credit growth rates witnessed higher NPLs in the periods that followed. These results support the use of macroprudential measures for increasing the resilience of borrowers, such as limits on the indebtedness level (such as debt service-to-income, DSTI or loan-to-value, LTV caps), as tools to temper the credit cycle.
{"title":"Determinants of Non-Performing Loans for the EEC Region. A Financial Stability Perspective","authors":"Luminița Tătărici, M. Kubinschi, Dinu Barnea","doi":"10.2478/mmcks-2020-0036","DOIUrl":"https://doi.org/10.2478/mmcks-2020-0036","url":null,"abstract":"Abstract This article investigates the determinants of non-performing loans for a panel of EEC countries and the implications for the real economy, covering the period 2005-2017. Among the determinants, the paper proposes macroeconomic factors, banking sector variables, and cost and governance indicators. Additionally, the paper explores the extensive use of macroprudential measures in these countries. Using a panel with fixed effects and a dynamic GMM estimator, the results support the existing findings that adverse macroeconomic developments are generally associated with higher non-performing loans, while increases in NPLs have a rather transitory effect on the real economy and credit. NPL ratios increase if macroeconomic conditions deteriorate, while an improvement in the government effectiveness reduces them. A more profitable and better capitalized banking sector generally leads to lower NPLs. Moreover, countries with higher past credit growth rates witnessed higher NPLs in the periods that followed. These results support the use of macroprudential measures for increasing the resilience of borrowers, such as limits on the indebtedness level (such as debt service-to-income, DSTI or loan-to-value, LTV caps), as tools to temper the credit cycle.","PeriodicalId":44909,"journal":{"name":"Management & Marketing-Challenges for the Knowledge Society","volume":null,"pages":null},"PeriodicalIF":3.7,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78763215","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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