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TRANSFER PRICING OF INNOVATION CONSIDERING MATCHES BETWEEN INNOVATION AND TECHNOLOGY IN FIRMS 考虑企业创新与技术匹配的创新转移定价
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-05-26 DOI: 10.3846/jbem.2023.18852
Huihong Liu, Xinyu Liu, T. Baležentis, D. Štreimikienė, Shouzhen Zeng
Firms can purchase innovation results to improve their technology. In this context, the key to transfer success is reasonably priced innovation results. Considering the match between innovation results and firm technology, this study analyzes the nonlinear improvement effect of innovation results on technology. The pricing decision is then assessed by a game model of the innovation results transfer and pricing that is based on the entire innovation process, including research and development (R&D) and transfer. Then the method for transfer pricing of innovation results is obtained from the equilibrium of game. The results show that firms tend to evaluate innovation results by matching them with their own technologies, and then make bids based on the R&D costs. Here, innovation results are obtained by firms with high-level matching. After considering the matching, the transfer pricing of innovative results will prosper the transfer market and improve the success rate of transfer. Several factors affect the possibility of transfer of innovation results and their price, including the R&D ability of the institution, the technology levels of firms, and the technological competition between firms. These conclusions were validated using a numerical example.
企业可以通过购买创新成果来改进技术。在此背景下,创新成果的合理定价是转移成功的关键。考虑创新结果与企业技术之间的匹配关系,本文分析了创新结果对技术的非线性改进效应。基于整个创新过程(包括研发和转移)的创新成果转移和定价博弈模型对定价决策进行了评估。然后从博弈均衡出发,给出了创新成果的转移定价方法。结果表明,企业倾向于通过将创新成果与自己的技术进行匹配来评价创新成果,然后根据研发成本进行投标。其中,高水平匹配的企业获得创新成果。在考虑匹配后,创新成果的转让定价将繁荣转让市场,提高转让成功率。影响创新成果转移可能性及其价格的因素包括机构的研发能力、企业的技术水平和企业间的技术竞争。通过数值算例验证了上述结论。
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引用次数: 0
LABOUR PRODUCTIVITY ANALYSIS OF MANUFACTURING SECTOR IN TURKEY AGAINST EU 土耳其制造业劳动生产率对欧盟的影响分析
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-05-23 DOI: 10.3846/jbem.2023.19059
Dursun Balkan, G. Akyuz
This study offers an in-depth analysis of labour productivity of manufacturing sector in Turkey and provides a comparison with EU27 and EA19 countries utilizing Eurostat time series data of 63 quarters covering 2005/first quarter-2020/third quarter time interval. Productivity trends are identified and interpreted by relating them with the key macroeconomic events and factors. Multiple linear and non-linear regression equations, and ARIMA model with different parameters are applied to the time series data considering the periods with and without covid effect. Future projections are made for the periods 2020–2023 for Turkey manufacturing sector based on the best fitting regression and ARIMA solutions and they are compared. Findings revealed that extreme covid conditions of even two quarters of data have significant impact on the forecasted values for Turkey, EU27 and EA19 countries. ARIMA analysis with 12 different parameter settings provided accurate results, supported by Thiel’s inequality coefficients and standard error measures. Analysis has shown consistent patterns between EA19 and EU27 countries. ARIMA results represent better compatibility with the regression results for Turkey. Study is valuable by providing comprehensive and comparative analysis, revealing future forecasts and covid effect and degree of recovery from the pandemic.
本研究对土耳其制造业的劳动生产率进行了深入分析,并利用欧盟统计局2005年/第一季度-2020年/第三季度的63个季度的时间序列数据,与欧盟27国和EA19国进行了比较。生产率趋势是通过将其与关键的宏观经济事件和因素联系起来来确定和解释的。采用多元线性和非线性回归方程以及不同参数的ARIMA模型,对考虑有无冠状病毒效应的时间序列数据进行分析。根据最佳拟合回归和ARIMA解决方案,对2020-2023年土耳其制造业的未来进行了预测,并对其进行了比较。调查结果显示,即使是两个季度的数据,极端的covid条件也会对土耳其、欧盟27国和EA19国家的预测值产生重大影响。在蒂尔不等式系数和标准误差测量的支持下,ARIMA分析提供了12种不同参数设置的准确结果。分析显示东亚19国和欧盟27国之间的模式是一致的。ARIMA结果与土耳其的回归结果具有较好的兼容性。研究的价值在于提供全面和比较的分析,揭示未来的预测和covid效应以及从大流行中恢复的程度。
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引用次数: 0
UNDERSTANDING ELECTRICITY PRICE EVOLUTION – DAY-AHEAD MARKET COMPETITIVENESS IN ROMANIA 了解电价演变-罗马尼亚的市场竞争力
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-05-10 DOI: 10.3846/jbem.2023.19050
A. Bâra, S. Oprea, I. Georgescu
The unexpected pandemic eruption in March 2020, the European efforts to diminish the gas house emissions, prolonged drought, higher inflation and the war in Ukraine clearly have had a strong impact on the electricity price. In this paper, we analyze the electricity prices on the Romanian Day-Ahead Market (DAM) along with other variables (inflation, consumption and traded volume of gas on DAM) over the last three and a half years in an attempt to understand its evolution and future trend in the economic and geopolitical context. Autoregressive Distributed Lag models are proposed to analyze the causality among variables on short- and long-term perspective, whereas Quantile Regression (QR) is proposed to enhance the results of the Ordinary Least Squares (OLS) regression. Furthermore, using market concentration metrics – Herfindahl-Hirschman Index (HHI), C1 and C3 ratio, we analyze the competitiveness on the Romanian DAM and correlate it with the electricity price evolution. The concentration indicators on this market reflect the degree of competition manifested between sellers and buyers respectively, their dynamics being able to influence the price level. The higher concentration on the sellers’ side (HHI = 1500) indicates a potential speculative behavior on this market that led to higher prices on DAM.
2020年3月意外爆发的大流行病、欧洲为减少温室气体排放所做的努力、长期干旱、通货膨胀加剧以及乌克兰的战争显然对电价产生了强烈影响。在本文中,我们分析了罗马尼亚日前市场(DAM)的电价以及过去三年半的其他变量(通货膨胀、DAM上的天然气消费量和交易量),试图了解其在经济和地缘政治背景下的演变和未来趋势。提出了自回归分布滞后模型,从短期和长期角度分析变量之间的因果关系;提出了分位数回归(QR),以增强普通最小二乘(OLS)回归的结果。此外,利用市场集中度指标——赫芬达尔-赫希曼指数(HHI)、C1和C3比率,我们分析了罗马尼亚DAM的竞争力,并将其与电价演变联系起来。该市场的集中度指标分别反映了卖方和买方之间的竞争程度,他们的动态能够影响价格水平。较高的卖方集中度(HHI = 1500)表明该市场上存在潜在的投机行为,导致DAM价格上涨。
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引用次数: 6
WHY CAN ORGANIZATIONAL RESILIENCE NOT BE MEASURED? 为什么组织弹性不能被测量?
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-05-05 DOI: 10.3846/jbem.2023.18819
José M. Sevilla, C. Ruiz-Martin, José Juan Nebro, A. López-Paredes
Our aim is to justify why organizational resilience cannot be measured in an ex-ante way and the consequences we can draw from it. To achieve this goal, we examine the relations between different approaches to organizational resilience and the tight interrelation between organizational resilience and organizational and dynamic capabilities. We argue that most proposals about organizational resilience conceptualization, and the metrics derived from them, are closely related. They represent the same core concepts, facts, and relations. Additionally, far from there being no consensus about organizational resilience, researchers are presenting the same ideas with different terms. This implies that there are no better or worse definitions or conceptualizations for organizational resilience, but models are more or less suitable depending on the approach to be established. We agree with the proposal that organizational resilience is a dynamic capability and, as such, it should be studied and considered. This review led us to conclude that because organizational resilience is a dynamic process, it cannot be measured or estimated in an ex-ante way. The fact that organizational resilience cannot be measured brings us to the question of how organizations can address organizational resilience improvement, evaluate their progress, and the tools they can use.
我们的目的是证明为什么组织弹性不能以事前的方式衡量,以及我们可以从中得出的结果。为了实现这一目标,我们研究了组织弹性的不同研究方法之间的关系,以及组织弹性与组织能力和动态能力之间的紧密相互关系。我们认为,大多数关于组织弹性概念化的建议,以及由此衍生的指标,都是密切相关的。它们代表相同的核心概念、事实和关系。此外,对组织弹性的看法远没有达成共识,研究人员用不同的术语提出了同样的观点。这意味着没有更好或更差的组织弹性定义或概念化,但是模型或多或少适合于要建立的方法。我们同意组织弹性是一种动态能力的建议,因此,它应该被研究和考虑。这一回顾使我们得出结论,因为组织弹性是一个动态的过程,它不能以事前的方式测量或估计。组织弹性无法测量这一事实给我们带来了组织如何解决组织弹性改进的问题,评估他们的进展,以及他们可以使用的工具。
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引用次数: 1
CRITICAL REVIEW OF TEXT MINING AND SENTIMENT ANALYSIS FOR STOCK MARKET PREDICTION 股票市场预测的文本挖掘和情绪分析综述
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-04-05 DOI: 10.3846/jbem.2023.18805
Zuzana Janková
The paper is aimed at a critical review of the literature dealing with text mining and sentiment analysis for stock market prediction. The aim of this work is to create a critical review of the literature, especially with regard to the latest findings of research articles in the selected topic strictly focused on stock markets represented by stock indices or stock titles. This requires examining and critically analyzing the methods used in the analysis of sentiment from textual data, with special regard to the possibility of generalization and transferability of research results. For this reason, an analytical approach is also used in working with the literature and a critical approach in its organization, especially for completeness, coherence, and consistency. Based on the selected criteria, 260 articles corresponding to the subject area are selected from the world databases of Web of Science and Scopus. These studies are graphically captured through bibliometric analysis. Subsequently, the selection of articles was narrowed to 49. The outputs are synthesized and the main findings and limits of the current state of research are highlighted with possible future directions of subsequent research.
本文旨在对有关股票市场预测的文本挖掘和情绪分析的文献进行批判性回顾。这项工作的目的是对文献进行批判性回顾,特别是关于选定主题的研究文章的最新发现,严格关注以股票指数或股票标题为代表的股票市场。这需要检查和批判性地分析从文本数据中分析情感所使用的方法,特别要注意研究结果的普遍化和可转移性的可能性。出于这个原因,在处理文献时也使用分析方法,在其组织中使用批判方法,特别是在完整性、连贯性和一致性方面。根据所选标准,从Web of Science和Scopus的全球数据库中选出与该主题领域相对应的260篇文章。这些研究通过文献计量学分析以图形方式呈现。随后,文章的选择范围缩小到49篇。产出是综合的,主要的发现和局限性的研究现状,突出了后续研究的可能的未来方向。
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引用次数: 2
HOW LEADERSHIP FACTORS IMPACT DIFFERENT ENTREPRENEURSHIP PHASES: AN ANALYSIS WITH PLS-SEM 领导力因素如何影响不同创业阶段:基于pls-sem的分析
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-03-08 DOI: 10.3846/jbem.2023.18599
Sofia Aparisi-Torrijo, Gabriela Ribes-Giner, J. Chaves-Vargas
This research work empirically contributes to the entrepreneurial leadership field by analysing how certain combinations of leadership factors impact entrepreneurship in both its launch and consolidation phases. Two relational models are proposed to study whether entrepreneurial leadership factors are positively related to different entrepreneurial activity process stages. The first analyses the effect on the venture’s launch and start-up phases, and the second examines the impact on the entrepreneurship consolidation stage. Utilising data from 50 countries of the Global Entrepreneurship Monitor, a quantitative partial least squares structural equation method was employed to validate the proposed models. The main conclusion was that the use of some leadership capabilities has an unequal influence on entrepreneurship during its life cycle. This study contributes to the field in two ways: we firstly show that leadership factors are contextual, and their contribution depends on the stage of the entrepreneurial process in which the activity is located; secondly, this research reveals that the development of leadership factors, such as self-efficacy, networking, vision and innovative behaviour, positively condition the start-up and launch phases of entrepreneurship. The outcomes of this research demonstrate significant theoretical and empirical implications by bridging the existing gaps in the niche of entrepreneurial leadership factors.
本研究通过分析领导力因素的某些组合在创业启动和巩固阶段对创业的影响,为创业领导力领域做出了实证贡献。本文提出了两个关系模型来研究创业领导力因素是否与创业活动的不同过程阶段呈正相关。第一个分析了对创业启动和创业阶段的影响,第二个研究了对创业巩固阶段的影响。利用全球创业监测的50个国家的数据,采用定量偏最小二乘结构方程方法来验证所提出的模型。主要结论是,在创业的生命周期中,某些领导能力的使用对创业的影响是不平等的。本研究在两个方面对该领域做出了贡献:我们首先表明,领导力因素是情境性的,其贡献取决于活动所处的创业过程阶段;其次,本研究揭示了自我效能感、网络、愿景和创新行为等领导因素的发展对创业的启动和启动阶段具有积极的调节作用。本研究的结果弥补了创业领导因素生态位的现有差距,具有重要的理论和实证意义。
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引用次数: 2
THE EFFECTS OF COVID-19 ON FIRMS’ LIQUIDITY: EVIDENCE FROM THE ATHENS STOCK EXCHANGE COVID-19对企业流动性的影响:来自雅典证券交易所的证据
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-03-08 DOI: 10.3846/jbem.2023.18637
Michail Nerantzidis, Andreas G. Koutoupis, Panayiotis G. Tzeremes, Georgios Drogalas, Dimitrios Mitskinis
Motivated by the recent study of De Vito and Gómez (2020), this paper examines how the COVID-19 pandemic could influence the liquidity of Greek listed firms. It also explores the main factors that drive the level of operating cash flow (OCF). By simulating a decrease of 50% and 75% in sales, we perform stress-tests on three liquidity ratios for 154 listed firms on Athens Stock Exchange considering their degree of flexibility. For these firms, we also investigate if industry sector matters. Finally, OLS and quantile regression analysis is performed to gain a more detailed and complete picture of the determinants of the OCF. The findings show that on average a firm with limited flexibility, in the worst scenario, would consume its cash reserves in about two months. Furthermore, approximately 9% of all firms would become illiquid in about one year, whereas about 12% would become illiquid within two years. It is also observed that liquidity does not significantly variate across sectors. On average, as revealed by OLS method, the findings support that Total Governance, ROA and Female board significantly affect the OCF. The paper enables policymakers to perceive the magnitude of liquidity risk and improve their decision making.
受De Vito和Gómez(2020)最近研究的启发,本文研究了COVID-19大流行如何影响希腊上市公司的流动性。探讨了影响企业经营性现金流水平的主要因素。通过模拟销售额下降50%和75%,我们对雅典证券交易所154家上市公司的三个流动性比率进行了压力测试,考虑其灵活性程度。对于这些公司,我们还调查了行业部门是否重要。最后,进行OLS和分位数回归分析,以获得OCF决定因素的更详细和完整的图像。研究结果显示,在最糟糕的情况下,平均而言,一家灵活性有限的公司将在大约两个月内消耗掉其现金储备。此外,大约9%的公司将在大约一年内变得缺乏流动性,而大约12%的公司将在两年内变得缺乏流动性。还观察到,流动性在各个部门之间没有显着变化。平均而言,OLS方法显示,研究结果支持全面治理,ROA和女性董事会显著影响OCF。本文使决策者能够感知流动性风险的大小,并改善他们的决策。
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引用次数: 0
DEVELOPING AN ECONOMIC AND SOCIAL SECURITY INDEX FOR EURO-ATLANTIC AREA COUNTRIES: A PANEL DATA ANALYSIS 制定欧洲-大西洋地区国家的经济和社会保障指数:小组数据分析
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-03-01 DOI: 10.3846/jbem.2023.18610
A. Șerban, Ionuț Jianu
The concepts of economic and social security are very complex and dynamic, closely related to many new challenges that characterize today’s societies. Our research aims at investigating the economic and social security considering the current vulnerabilities, using an integrated multicriteria approach to this issue, taking into account five pillars (dimensions): demographic, climate, globalization, and ITC adaptation, social, and economic. Based on these dimensions, we developed an Economic and Social Security Index across the Euro-Atlantic countries and we found that the European Union (EU) is better positioned compared to the other country-groups analysed. Furthermore, we estimated the effects of duration of schooling and climate degradation on economic growth, by using the Panel EGLS method over the period 2010–2019, and we compared the results obtained for EU countries to the ones obtained for the other groups of countries in EuroAtlantic space: EU neighbours and candidate/potential candidate countries and other Eastern EU neighbourhood countries. We found a positive impact of the duration of schooling on the economic growth, which is greater in countries registering high levels of socio-economic security, the effect of the duration of schooling varying depending on the quality of education. In terms of the effects of CO2 emissions on economic growth, we found a negative impact, considering the one year lag.
经济和社会安全的概念是非常复杂和动态的,与当今社会的许多新挑战密切相关。我们的研究旨在调查考虑当前脆弱性的经济和社会安全,使用综合多标准方法来解决这个问题,考虑到五个支柱(维度):人口、气候、全球化和ITC适应、社会和经济。基于这些维度,我们开发了横跨欧洲-大西洋国家的经济和社会安全指数,我们发现欧盟(EU)比所分析的其他国家集团处于更好的位置。此外,我们使用专家组EGLS方法估算了2010-2019年期间受教育时间和气候退化对经济增长的影响,并将欧盟国家与欧洲-大西洋空间其他国家集团(欧盟邻国、候选/潜在候选国家和其他东欧邻国)的结果进行了比较。我们发现,受教育时间对经济增长有积极影响,在社会经济安全水平较高的国家,这种影响更大,受教育时间的影响因教育质量而异。在二氧化碳排放对经济增长的影响方面,考虑到一年的滞后,我们发现了负面影响。
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引用次数: 1
SMALL IS BEAUTIFUL AND IMPORTANT: ECONOMIES AND FIRMS TRADING IN DIGITAL SERVICES 小即是美,重要:经济体和企业在数字服务领域进行交易
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-02-27 DOI: 10.3846/jbem.2023.18585
Riina Kerner, Meelis Kitsing
Although many firms operate on global digital platforms, small countries and firms also play an essential role at the national level, especially during crises and the slowdown in globalization. This research investigates trade patterns in digital services at the country and firm level and identifies challenges in this area in providing new information and tools to startup mentors and policymakers, who need more evidence for national authorities to develop mentorship and digital programmes. The study also contributes to transaction cost theory, explaining how it is possible to reduce transaction costs. The methodology involves using quantitative and experimental methods, logistic regression for firms and correspondence analysis for countries. The WTO dataset was used to visualise trade in services data and to interpret clusters of digitalised countries. Interestingly, Estonia stands apart from other post-socialist countries in terms of digital services exports, being among smaller countries and hosting the highest concentration of startups per capita. The firmlevel analysis revealed that firms trading in digital services differ from others – being smaller, more focused on exports and more often controlled by non-residents. The study encourages investments in small countries and small firms that trade successfully in digital services.
尽管许多公司在全球数字平台上运营,但小国和公司在国家层面也发挥着至关重要的作用,特别是在危机和全球化放缓期间。本研究调查了国家和公司层面的数字服务贸易模式,并确定了该领域在向初创企业导师和政策制定者提供新信息和工具方面面临的挑战,他们需要更多证据,以便国家当局制定指导和数字计划。该研究还对交易成本理论做出了贡献,解释了如何可能降低交易成本。方法包括使用定量和实验方法,对公司进行逻辑回归,对国家进行对应分析。世贸组织的数据集被用来可视化服务贸易数据,并解释数字化国家的集群。有趣的是,爱沙尼亚在数字服务出口方面与其他后社会主义国家不同,爱沙尼亚是小国之一,人均创业公司密度最高。公司层面的分析显示,从事数字服务贸易的公司与其他公司不同——规模较小,更专注于出口,而且往往由非居民控制。该研究鼓励投资于在数字服务领域取得成功的小国和小公司。
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引用次数: 0
DIGITALIZATION OF ROMANIAN PUBLIC ADMINISTRATION: A PANEL DATA ANALYSIS AT REGIONAL LEVEL 罗马尼亚公共行政数字化:区域层面的面板数据分析
IF 2.6 3区 经济学 Q1 Business, Management and Accounting Pub Date : 2023-02-10 DOI: 10.3846/jbem.2023.18574
Alexandra Frățilă, Mirela Păunescu, Elena-Mirela Nichita, P. Lazăr
Digital transformation of public administration creates opportunities for transparency, accountability, efficiency, and better tax collection. Benefits are even more critical considering the coronavirus crisis when millions of people worldwide engage in online solutions. Our research paper offers clear insights into the public administrations’ strategic management when it comes to the impact of digitalization upon local tax revenues collection. In this setting, we investigate the effects of the digitalization of the Romanian public sector, focusing on local tax revenues collection covering the period 2015–2021. The data was collected from the national platform for e-payments – ghiseul.ro. To assess the impact of digitalization, we opted for the panel data analysis, complemented by reliability and robustness tests. The local tax revenues are settled as the dependent variable and analysed in relationship with the number of payments made via the above-mentioned platform (assigned as a proxy for digitalization). Gross domestic product per capita, Unemployment rate, and Average net earnings are control variables. Our outcomes show that digitalization impacts local tax revenues, but it differs across the country, the highest impact being registered in the case of macroregion 3. All independent variables are statistically significant, leading to the assumption that the empirical model is accurate.
公共行政的数字化转型为透明度、问责制、效率和更好的税收征管创造了机会。考虑到冠状病毒危机,当全球数百万人参与在线解决方案时,好处就更加重要了。我们的研究论文为公共行政部门的战略管理提供了清晰的见解,当涉及到数字化对地方税收征收的影响。在此背景下,我们调查了罗马尼亚公共部门数字化的影响,重点关注2015-2021年期间的地方税收收入。这些数据是从国家电子支付平台ghiseul.ro收集的。为了评估数字化的影响,我们选择了面板数据分析,并辅以可靠性和稳健性测试。将地方税收收入作为因变量进行结算,并分析其与通过上述平台(作为数字化的代理)支付数量的关系。控制变量为人均国内生产总值、失业率和平均净收入。我们的研究结果表明,数字化影响了地方税收收入,但在全国各地有所不同,在宏观地区的影响最大。所有自变量都具有统计显著性,从而假设经验模型是准确的。
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引用次数: 0
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Journal of Business Economics and Management
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