This study investigates the effects of working capital management decisions on market values using a sample data set containing annual measurements for 317 Turkish publicly traded companies between 2010 and 2018. Cash ratio, Current ratio, Net Working Capital, and Cash Conversion Cycle are used as indicators of the liquidity policies of the sample firms. The specified dynamic model is estimated using the System GMM estimator. The findings show that firms can affect their market values by managing their liquid assets efficiently. However, this relationship weakens as cash holdings increase. In other words, a long cash conversion cycle and a large amount of net working capital are not considered negative signals by investors if accompanied by sufficient cash holdings. Hence, it can be said that cash management can help reduce the negative impact of working capital investments on firm value. This study found no evidence of the effects of the current ratio and net working capital on firm value.
{"title":"Vrijednost poduzeća i odluke o obrtnom kapitalu","authors":"Rumeysa Bilgin, Sema Turan","doi":"10.30924/mjcmi.28.1.11","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.11","url":null,"abstract":"This study investigates the effects of working capital management decisions on market values using a sample data set containing annual measurements for 317 Turkish publicly traded companies between 2010 and 2018. Cash ratio, Current ratio, Net Working Capital, and Cash Conversion Cycle are used as indicators of the liquidity policies of the sample firms. The specified dynamic model is estimated using the System GMM estimator. The findings show that firms can affect their market values by managing their liquid assets efficiently. However, this relationship weakens as cash holdings increase. In other words, a long cash conversion cycle and a large amount of net working capital are not considered negative signals by investors if accompanied by sufficient cash holdings. Hence, it can be said that cash management can help reduce the negative impact of working capital investments on firm value. This study found no evidence of the effects of the current ratio and net working capital on firm value.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90962123","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}
This article presents proposals for organizational solutions that can motivate HR managers and employees in the context of intra-organizational mobility. This proposal for empirically tested organizational solutions will help to understand which factors should be used to exploit the potential of competencies to motivate work and prevent the effects of monotonous and monotypic work. These solutions were developed in two-stage empirical research. After defining the test items based on the literature, the first stage was initiated. In this stage, the Delphi method was used, in which 29 experts participated. After the completion of the first research phase, the second phase was initiated. This stage was directed to HR managers of medium and large organizations. As a result, we received responses from 401 organizations in Poland. During the empirical research, a catalog of solutions managers can use to motivate employees in intra-organizational mobility was created. These solutions can also be used to determine whether the introduced intra-organizational mobility has a motivational function. The theoretical and practical findings presented in the article also show that these elements are essential for those organizations that want to exploit the potential of their employees based on conscious and intentional intra-organizational mobility activities. This relates to the organization’s activities to implement solutions in this area. This research has some limitations, especially concerning the lack of evaluation of the constructs proposed by the author - organizational solutions as part of the motivational function of intra-organizational mobility by HR managers.
{"title":"Motivational function of intraorganizational mobility employee (IME)","authors":"Izabela Bednarska-Wnuk","doi":"10.30924/mjcmi.28.1.1","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.1","url":null,"abstract":"This article presents proposals for organizational solutions that can motivate HR managers and employees in the context of intra-organizational mobility. This proposal for empirically tested organizational solutions will help to understand which factors should be used to exploit the potential of competencies to motivate work and prevent the effects of monotonous and monotypic work. These solutions were developed in two-stage empirical research. After defining the test items based on the literature, the first stage was initiated. In this stage, the Delphi method was used, in which 29 experts participated. After the completion of the first research phase, the second phase was initiated. This stage was directed to HR managers of medium and large organizations. As a result, we received responses from 401 organizations in Poland. During the empirical research, a catalog of solutions managers can use to motivate employees in intra-organizational mobility was created. These solutions can also be used to determine whether the introduced intra-organizational mobility has a motivational function. The theoretical and practical findings presented in the article also show that these elements are essential for those organizations that want to exploit the potential of their employees based on conscious and intentional intra-organizational mobility activities. This relates to the organization’s activities to implement solutions in this area. This research has some limitations, especially concerning the lack of evaluation of the constructs proposed by the author - organizational solutions as part of the motivational function of intra-organizational mobility by HR managers.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79055157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The healthcare system’s effectiveness depends mainly on healthcare workers’ knowledge, skills, and motivation, particularly during the COVID-19 pandemic. Systematic planning of human resources is, therefore, an essential prerequisite for ensuring the sustainability and efficiency of the health care system. This article outlines a structural human resource planning model in health care and explores the complexities involved. A detailed analytical framework is proposed, drawing on various materials and evidence to outline the factors that influence human resource planning in health care. The in-depth analytical process employs an extensive literature review to provide greater credibility to research findings. It investigates numerous sources and materials, both in national and international contexts. The purpose of human resource planning initiatives in healthcare is to calculate the needed number of healthcare workers in the future based on past and current data and assumptions about future supply and demand trends. The research findings reveal this is a very challenging task, as there are typically many unknowns when planning for the future. In addition, planners often need more reliable data and systemic deficiencies. Furthermore, the study shows that unplanned and delayed solutions concerning human resource needs in healthcare can only alleviate problems. Still, they cannot replace effective strategic measures and timely structural changes within the healthcare ecosystem.
{"title":"Management of health care workforce","authors":"D. Stanimirović, Radivoje Pribaković Brinovec","doi":"10.30924/mjcmi.28.1.3","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.3","url":null,"abstract":"The healthcare system’s effectiveness depends mainly on healthcare workers’ knowledge, skills, and motivation, particularly during the COVID-19 pandemic. Systematic planning of human resources is, therefore, an essential prerequisite for ensuring the sustainability and efficiency of the health care system. This article outlines a structural human resource planning model in health care and explores the complexities involved. A detailed analytical framework is proposed, drawing on various materials and evidence to outline the factors that influence human resource planning in health care. The in-depth analytical process employs an extensive literature review to provide greater credibility to research findings. It investigates numerous sources and materials, both in national and international contexts. The purpose of human resource planning initiatives in healthcare is to calculate the needed number of healthcare workers in the future based on past and current data and assumptions about future supply and demand trends. The research findings reveal this is a very challenging task, as there are typically many unknowns when planning for the future. In addition, planners often need more reliable data and systemic deficiencies. Furthermore, the study shows that unplanned and delayed solutions concerning human resource needs in healthcare can only alleviate problems. Still, they cannot replace effective strategic measures and timely structural changes within the healthcare ecosystem.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74616653","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}
This paper aims to identify the relationships between organizational values and the success of Polish NGOs in the context of the theory of management by values. The study indicates that different categories of NGO success are related to different priorities of the organizations’ CEOs in survival values. Results show that ethical values associated with organizational success are viewed in financial terms compared to organizations whose managers do not consider these values important. The article also shows that the quality of an organization’s services and its competitiveness are rated lower by organizations that prioritize conservative values. It also shows that honesty’s core ethical organizational value is related to NGO performance to varying degrees. The results show that the quality of an organization’s services is rated higher by organizations whose leaders prioritize honesty. Still, the level of cooperation between the organization and public and local government institutions is rated lower. This has clear implications for NGO managers: they should review the organizational values they prioritize concerning their organization’s performance goals to implement value management more effectively.
{"title":"Koje organizacijske vrijednosti pokreću uspjeh nevladinih organizacija?","authors":"Paweł Mikołajczak","doi":"10.30924/mjcmi.28.1.7","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.7","url":null,"abstract":"This paper aims to identify the relationships between organizational values and the success of Polish NGOs in the context of the theory of management by values. The study indicates that different categories of NGO success are related to different priorities of the organizations’ CEOs in survival values. Results show that ethical values associated with organizational success are viewed in financial terms compared to organizations whose managers do not consider these values important. The article also shows that the quality of an organization’s services and its competitiveness are rated lower by organizations that prioritize conservative values. It also shows that honesty’s core ethical organizational value is related to NGO performance to varying degrees. The results show that the quality of an organization’s services is rated higher by organizations whose leaders prioritize honesty. Still, the level of cooperation between the organization and public and local government institutions is rated lower. This has clear implications for NGO managers: they should review the organizational values they prioritize concerning their organization’s performance goals to implement value management more effectively.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84208500","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}
Martina Dragija Kostić, Sanja Broz Tominac, Matej Ljubić
The number of studies on non-financial reporting by public sector entities is steadily increasing. Public sector entities have begun to report non-financial data to meet the needs of various stakeholders. Previous research has shown that public entities have begun to disclose non-financial information through various non-financial reports, such as sustainability reports, popular reports, integrated reports, and reports on websites or social media. This paper examines the disclosure of non-financial information in the form of non-financial reports by Croatian public sector entities and the reasons for publishing or not publishing such reports. The research is based on a questionnaire survey of Croatian public sector executives conducted in 2022. The results show that Croatian public sector entities have started to publish non-financial reports and that publication in the future is viewed positively. However, most of those who indicated that their institution does not prepare non-financial reports and those who do not know if their institution prepares the report are unfamiliar with non-financial reporting and non-financial reporting standards. This paper adds to the limited literature on non-financial reporting in the public sector. It reveals that the most important reason for not publishing non-financial reports by public sector entities is the absence of a legal requirement for non-financial reporting.
{"title":"What are the reasons behind publishing non-financial reports by Croatian public sector entities?","authors":"Martina Dragija Kostić, Sanja Broz Tominac, Matej Ljubić","doi":"10.30924/mjcmi.28.1.10","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.10","url":null,"abstract":"The number of studies on non-financial reporting by public sector entities is steadily increasing. Public sector entities have begun to report non-financial data to meet the needs of various stakeholders. Previous research has shown that public entities have begun to disclose non-financial information through various non-financial reports, such as sustainability reports, popular reports, integrated reports, and reports on websites or social media. This paper examines the disclosure of non-financial information in the form of non-financial reports by Croatian public sector entities and the reasons for publishing or not publishing such reports. The research is based on a questionnaire survey of Croatian public sector executives conducted in 2022. The results show that Croatian public sector entities have started to publish non-financial reports and that publication in the future is viewed positively. However, most of those who indicated that their institution does not prepare non-financial reports and those who do not know if their institution prepares the report are unfamiliar with non-financial reporting and non-financial reporting standards. This paper adds to the limited literature on non-financial reporting in the public sector. It reveals that the most important reason for not publishing non-financial reports by public sector entities is the absence of a legal requirement for non-financial reporting.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87428595","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}
Empirijski dokazi sugeriraju da dodatni posao, zasnovan na tehnologiji, postaje sve češći na modernim radnim mjestima. Od zaposlenika se često očekuje da budu na raspolaganju za posao čak i nakon radnih sati, putem informacijsko-komunikacijskih tehnologija (IKT), što dovodi do konflikta između poslovnog i osobnog života. Koristeći tri nedavne empirijske studije i relevantnu literaturu, u ovom se radu razvija argument da same IKT ne mogu doprinijeti konfliktu između poslovnog i osobnog života zaposlenika, s obzirom da je navedeni konflikt, u današnjem hiper-povezanom svijetu, rezultat konstitutivnog povezivanja između IKT-a te ljudskih izbora, vjerovanja, normi i ponašanja. Stoga se smatra da razumijevanje doživljaja poslovnog i osobnog života na suvremenim radnim mjestima traži proučavanje međuovisnosti između IKT-a i društvenih elemenata. Predlaže se da je doživljaj poslovnog i osobnog života suvremenih zaposlenika potrebno promatrati kroz uklapanje društvenih i materijalnih čimbenika. S obzirom na prirodu povezivanja između IKT-a i društvenih elemenata, uklapanje socio-materijalnih čimbenika stvara različite oblike iskustva za različite ljude. Predloženi konceptualni model traži dodatno istraživanje u području dodatnog posla zasnovanog na tehnologiji te konflikta između poslovnog i osobnog života, promatranog iz socio-materijalne perspektive. Buduća bi se istraživanja mogla usredotočiti na ulogu organizacijskih normi, organizacijske i nacionalne kulture, rodnih normi, segmentacijskih preferencija, taktika uspostavljanja granica između poslovnog i osobnog života te politika za upravljanje radom od kuće pomoću IKT-a. Uz model se prezentiraju i preporuke za teoriju i praksu.
{"title":"Konceptualni model kako dodatni posao zasnovan na tehnologiji vodi do konflikta između poslovnog i osobnog života","authors":"Sulakshana De Alwis","doi":"10.30924/mjcmi.28.1.2","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.2","url":null,"abstract":"Empirijski dokazi sugeriraju da dodatni posao, zasnovan na tehnologiji, postaje sve češći na modernim radnim mjestima. Od zaposlenika se često očekuje da budu na raspolaganju za posao čak i nakon radnih sati, putem informacijsko-komunikacijskih tehnologija (IKT), što dovodi do konflikta između poslovnog i osobnog života. Koristeći tri nedavne empirijske studije i relevantnu literaturu, u ovom se radu razvija argument da same IKT ne mogu doprinijeti konfliktu između poslovnog i osobnog života zaposlenika, s obzirom da je navedeni konflikt, u današnjem hiper-povezanom svijetu, rezultat konstitutivnog povezivanja između IKT-a te ljudskih izbora, vjerovanja, normi i ponašanja. Stoga se smatra da razumijevanje doživljaja poslovnog i osobnog života na suvremenim radnim mjestima traži proučavanje međuovisnosti između IKT-a i društvenih elemenata. Predlaže se da je doživljaj poslovnog i osobnog života suvremenih zaposlenika potrebno promatrati kroz uklapanje društvenih i materijalnih čimbenika. S obzirom na prirodu povezivanja između IKT-a i društvenih elemenata, uklapanje socio-materijalnih čimbenika stvara različite oblike iskustva za različite ljude. Predloženi konceptualni model traži dodatno istraživanje u području dodatnog posla zasnovanog na tehnologiji te konflikta između poslovnog i osobnog života, promatranog iz socio-materijalne perspektive. Buduća bi se istraživanja mogla usredotočiti na ulogu organizacijskih normi, organizacijske i nacionalne kulture, rodnih normi, segmentacijskih preferencija, taktika uspostavljanja granica između poslovnog i osobnog života te politika za upravljanje radom od kuće pomoću IKT-a. Uz model se prezentiraju i preporuke za teoriju i praksu.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87072714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The brain drain problem has been studied in the literature as an interaction between push factors in developing countries and pull factors in wealthy countries. It is essential to measure these factors to address the problem efficiently. This study aims to improve the process of prioritizing brain drain factors among Croatian students. The study was conducted among university students from all schools of the University of Zagreb and across seven scientific fields. This research combined two methods: the neural network analysis and the analytic hierarchy process (AHP). Neural network analysis is used to identify push and pull factors that most strongly influence students’ potential decision to leave a country. The AHP is used to prioritize the most critical pull and push factors according to the results of the neural network analysis. The study results indicate that pull factors are more important than push factors for students in all fields of study, except in Arts. Developing countries should strive to adopt policies to create new employment opportunities, improve the quality of life, and create a favorable business climate.
{"title":"Push and pull factors in brain drain among university students","authors":"Barbara Šlibar, D. Oreški, Marina Klačmer Čalopa","doi":"10.30924/mjcmi.28.1.5","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.5","url":null,"abstract":"The brain drain problem has been studied in the literature as an interaction between push factors in developing countries and pull factors in wealthy countries. It is essential to measure these factors to address the problem efficiently. This study aims to improve the process of prioritizing brain drain factors among Croatian students. The study was conducted among university students from all schools of the University of Zagreb and across seven scientific fields. This research combined two methods: the neural network analysis and the analytic hierarchy process (AHP). Neural network analysis is used to identify push and pull factors that most strongly influence students’ potential decision to leave a country. The AHP is used to prioritize the most critical pull and push factors according to the results of the neural network analysis. The study results indicate that pull factors are more important than push factors for students in all fields of study, except in Arts. Developing countries should strive to adopt policies to create new employment opportunities, improve the quality of life, and create a favorable business climate.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75334383","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}
Given the need for transition economies to finance some of the investment required for development through borrowing, this paper empirically examines the determinants of government bond spreads, focusing on institutional quality as a contextual dimension. The literature generally assumes that market assessments of sovereign risk - i.e., the probability of default - and hence the cost of sovereign borrowing over the risk-free rate are based on the borrower’s macroeconomic fundamentals, solvency, and liquidity indicators related to fiscal and financial variables, and indicators of external financial market volatility. Using fixed effect estimation, our findings suggest that government bond spreads in European transition economies are sensitive to domestic macroeconomic fundamentals and global financial market volatility. From macroeconomic fundamentals, fiscal deficit levels, inflation rates, and countries’ effective exchange rates emerge as the leading indicators determining bond spreads over the observed period. Moreover, our results suggest that financial markets consider the quality of institutions when assessing default probabilities; hence, the potential risks arising from the quality of institutions are factored into the cost of sovereign borrowing. These results are robust to various extensions and robustness tests.
{"title":"Determinants of government bond spreads in European transition economies and implications for small and medium enterprises","authors":"Berat Havolli","doi":"10.30924/mjcmi.28.1.12","DOIUrl":"https://doi.org/10.30924/mjcmi.28.1.12","url":null,"abstract":"Given the need for transition economies to finance some of the investment required for development through borrowing, this paper empirically examines the determinants of government bond spreads, focusing on institutional quality as a contextual dimension. The literature generally assumes that market assessments of sovereign risk - i.e., the probability of default - and hence the cost of sovereign borrowing over the risk-free rate are based on the borrower’s macroeconomic fundamentals, solvency, and liquidity indicators related to fiscal and financial variables, and indicators of external financial market volatility. Using fixed effect estimation, our findings suggest that government bond spreads in European transition economies are sensitive to domestic macroeconomic fundamentals and global financial market volatility. From macroeconomic fundamentals, fiscal deficit levels, inflation rates, and countries’ effective exchange rates emerge as the leading indicators determining bond spreads over the observed period. Moreover, our results suggest that financial markets consider the quality of institutions when assessing default probabilities; hence, the potential risks arising from the quality of institutions are factored into the cost of sovereign borrowing. These results are robust to various extensions and robustness tests.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87588451","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}
When making investment decisions in financial markets, investors use various investment strategies. The traditional ones include the contrarian strategy and the moment strategy. In recent years, one of the dynamically developing segments of the global financial market has been the American REIT market. The literature on the subject lacks research on the effectiveness of investment strategies in this market. The aim of the article is therefore to compare the effectiveness of the contrarian strategy and momentum strategy on the US REIT market in different ranking periods. Based on the data on the rates of return of individual REITs listed on public capital markets in the US, the rates of return resulting from the application of the contrarian and momentum strategies were estimated. The results of the conducted analyses showed that for the three-year ranking period, the rates of return of the portfolio composed of loser REITs significantly exceeded the rates of return of the portfolio of winner REITs. This means that during this period the use of the contrarian strategy was more effective than the use of the momentum strategy. For other analysed ranking periods, the differences in rates of return were not statistically significant. The results of the conducted analyses may help investors in choosing the most effective investment strategy on the REIT market. This research also answers the question whether the REIT market should use investment strategies that, according to research, are effective on the broad stock market, or strategies that work well on the investment fund market.
{"title":"The effectiveness of the contrarian and momentum strategies on the US REIT market","authors":"Krzysztof Kowalke","doi":"10.58691/man/162862","DOIUrl":"https://doi.org/10.58691/man/162862","url":null,"abstract":"When making investment decisions in financial markets, investors use various investment strategies. The traditional ones include the contrarian strategy and the moment strategy. In recent years, one of the dynamically developing segments of the global financial market has been the American REIT market. The literature on the subject lacks research on the effectiveness of investment strategies in this market. The aim of the article is therefore to compare the effectiveness of the contrarian strategy and momentum strategy on the US REIT market in different ranking periods. Based on the data on the rates of return of individual REITs listed on public capital markets in the US, the rates of return resulting from the application of the contrarian and momentum strategies were estimated. The results of the conducted analyses showed that for the three-year ranking period, the rates of return of the portfolio composed of loser REITs significantly exceeded the rates of return of the portfolio of winner REITs. This means that during this period the use of the contrarian strategy was more effective than the use of the momentum strategy. For other analysed ranking periods, the differences in rates of return were not statistically significant. The results of the conducted analyses may help investors in choosing the most effective investment strategy on the REIT market. This research also answers the question whether the REIT market should use investment strategies that, according to research, are effective on the broad stock market, or strategies that work well on the investment fund market.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87827797","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}
Gen-Z leverage social media to showcase their skills and talent to ensure good career opportunities. The objective of this research is to study the mediation effect of affinity towards social media in defining relationship between social media and career decisions made by Gen-Z. Purposive sampling technique is used to collect responses from 500 Gen-Z. Structural dependence relationship between the constructs has been analysed using Structural equation modelling (SEM) technique. Mediating effect has been studied using Bootstrapping technique. The model’s validity and reliability has been examined by using Confirmatory Factor Analysis.
{"title":"Study of mediation effect of affinity in defining relationship between social media and career decisions of Gen-Z","authors":"M. Bhore, Poornima Tapas","doi":"10.58691/man/162870","DOIUrl":"https://doi.org/10.58691/man/162870","url":null,"abstract":"Gen-Z leverage social media to showcase their skills and talent to ensure good career opportunities. The objective of this research is to study the mediation effect of affinity towards social media in\u0000defining relationship between social media and career decisions made by Gen-Z.\u0000Purposive sampling technique is used to collect responses from 500 Gen-Z. Structural dependence relationship between the constructs has been analysed using Structural equation modelling (SEM)\u0000technique. Mediating effect has been studied using Bootstrapping technique. The model’s validity and reliability has been examined by using Confirmatory Factor Analysis.","PeriodicalId":47182,"journal":{"name":"Management","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77323007","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：