Abstract: Increased rise in costs of healthcare in the last five decades has rapidly increased interest in the functioning of healthcare systems within every country. The reasons for growth in healthcare costs are related to demographic changes, technology advancement, increased number of educated persons, emergence of new diseases, etc. Financing the risk of poor health is mainly organized through programs of social and private health insurance. Regarding the management of the risks of poor health in Bosnia and Herzegovina (BiH), the social health insurance system is the basic solution for the population. However, in BiH, as in other countries in the world, the system of social insurance has become unfeasible and it is necessary to search for new solutions, that is, to reform the system. The research subject in this paper is private/voluntary health insurance offered by insurance companies, which can be an efficient addition to social insurance in BiH. It has become present on the market of private insurance in BiH only recently, so its share in the total premium of private insurance is still minor. Therefore, a primary research was conducted on the possibilities for its development as well as on the need and acceptance by the users of healthcare services. Besides, there was a need for examining the performance of the existing system of social health insurance, based on the principles of Bismarck’s model of financing, and recognizing its disadvantages. By identifying and eliminating obstacles for development of voluntary health insurance, it is possible to improve performance of the existing system of health insurance in BiH.
{"title":"Possibilities of Development of Private Health Insurance in Bosnia and Herzegovina","authors":"Safet Kozarević, Senija Nuhanović, Irnela Hrnjić","doi":"10.14706/JECOSS11512","DOIUrl":"https://doi.org/10.14706/JECOSS11512","url":null,"abstract":"Abstract: Increased rise in costs of healthcare in the last five decades has rapidly increased interest in the functioning of healthcare systems within every country. The reasons for growth in healthcare costs are related to demographic changes, technology advancement, increased number of educated persons, emergence of new diseases, etc. Financing the risk of poor health is mainly organized through programs of social and private health insurance. Regarding the management of the risks of poor health in Bosnia and Herzegovina (BiH), the social health insurance system is the basic solution for the population. However, in BiH, as in other countries in the world, the system of social insurance has become unfeasible and it is necessary to search for new solutions, that is, to reform the system. The research subject in this paper is private/voluntary health insurance offered by insurance companies, which can be an efficient addition to social insurance in BiH. It has become present on the market of private insurance in BiH only recently, so its share in the total premium of private insurance is still minor. Therefore, a primary research was conducted on the possibilities for its development as well as on the need and acceptance by the users of healthcare services. Besides, there was a need for examining the performance of the existing system of social health insurance, based on the principles of Bismarck’s model of financing, and recognizing its disadvantages. By identifying and eliminating obstacles for development of voluntary health insurance, it is possible to improve performance of the existing system of health insurance in BiH.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"3 1","pages":"15-30"},"PeriodicalIF":0.0,"publicationDate":"2015-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90141957","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: Daily deal sites have become so popular in Turkey just as they have in many other countries. Heavy discounted offers for products or services attract most of the people to these new marketplaces. Glancing over the offers before starting to work became a habit for some of the people. However, some others do not have any interest to daily deals. So, it can be said that behavioral differences are unavoidable among customers. There are different forces that initiate the buying process. In this study, factors that affect buying behaviors of people from daily deal sites are investigated. The effect of buying behavior on satisfaction is also examined. Price related constructs (price consciousness, price mavenism, sale proneness and coupon proneness) and impulse buying tendencies of customers are taken as predictors of buying behavior from daily deal sites. Results suggest that price mavenism and coupon proneness are positively related with buying behaviors from online daily deal sites. On the other hand satisfaction come about to be a positive result of buying behavior. Even though the focus of this study is specific to a limited group, it is envisaged that the results will provide insights for both academics and e-tailers. Keywords: Daily Deal Sites, Online Shopping, Turkey, Structural Equation Modeling. JEL Classifications: M31, M10
{"title":"Price Related Constructs’ Effects on Daily Deal Buying Behavior in Turkey","authors":"H. Asil, H. Ozen","doi":"10.14706/JECOSS11514","DOIUrl":"https://doi.org/10.14706/JECOSS11514","url":null,"abstract":"Abstract: Daily deal sites have become so popular in Turkey just as they have in many other countries. Heavy discounted offers for products or services attract most of the people to these new marketplaces. Glancing over the offers before starting to work became a habit for some of the people. However, some others do not have any interest to daily deals. So, it can be said that behavioral differences are unavoidable among customers. There are different forces that initiate the buying process. In this study, factors that affect buying behaviors of people from daily deal sites are investigated. The effect of buying behavior on satisfaction is also examined. Price related constructs (price consciousness, price mavenism, sale proneness and coupon proneness) and impulse buying tendencies of customers are taken as predictors of buying behavior from daily deal sites. Results suggest that price mavenism and coupon proneness are positively related with buying behaviors from online daily deal sites. On the other hand satisfaction come about to be a positive result of buying behavior. Even though the focus of this study is specific to a limited group, it is envisaged that the results will provide insights for both academics and e-tailers. \u0000Keywords: Daily Deal Sites, Online Shopping, Turkey, Structural Equation Modeling. \u0000JEL Classifications: M31, M10","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"82 1","pages":"201"},"PeriodicalIF":0.0,"publicationDate":"2015-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85509781","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: TV serials can be leveraged as an effective mass communication means that is capable of sneaking into people’s lives, and altering their perceptions, habits and preferences. Today globalization has come to facilitate the way in which consumers are exposed to a myriad of foreign products, and country of origin and image emerge as major hints in assessing these products. Foreign TV programs that become popular in a country are known to contribute to the country of origin image of products involved. This study aims to study the way TV viewers in Albania, where Turkish soap operas are popular, perceive products of Turkish origin and whether Turkish TV programs have any effect on the purchasing decisions of Albanians. To this end, the data set of the study was compiled through one-to-one interviews with 413 participants in three Albanian cities (Tirana, Durres and Kukes). Quantitative data were analyzed using factor analysis and structural equation modeling (SEM) methods while qualitative data were obtained using the in-depth interviews with the people from the field who hold opinions about the matter at hand. The study produced positive findings that imply that TV serials influence product preferences of consumers.
{"title":"Soap Opera Effect on Product Preferences in Terms of Country Image: A Case of Turkish TV Serials in Albanian Market","authors":"Yüksel Köksal, Nihal İçöz Gjana","doi":"10.14706/JECOSS11513","DOIUrl":"https://doi.org/10.14706/JECOSS11513","url":null,"abstract":"Abstract: TV serials can be leveraged as an effective mass communication means that is capable of sneaking into people’s lives, and altering their perceptions, habits and preferences. Today globalization has come to facilitate the way in which consumers are exposed to a myriad of foreign products, and country of origin and image emerge as major hints in assessing these products. Foreign TV programs that become popular in a country are known to contribute to the country of origin image of products involved. This study aims to study the way TV viewers in Albania, where Turkish soap operas are popular, perceive products of Turkish origin and whether Turkish TV programs have any effect on the purchasing decisions of Albanians. To this end, the data set of the study was compiled through one-to-one interviews with 413 participants in three Albanian cities (Tirana, Durres and Kukes). Quantitative data were analyzed using factor analysis and structural equation modeling (SEM) methods while qualitative data were obtained using the in-depth interviews with the people from the field who hold opinions about the matter at hand. The study produced positive findings that imply that TV serials influence product preferences of consumers.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"7 1","pages":"219"},"PeriodicalIF":0.0,"publicationDate":"2015-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76297767","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 following paper analyzes potential effects of the demographic changes on private consumption. An extended Almost Ideal Demand System is used to simulate changes in the consumption of goods and services due to the ageing of the population in Austria – on national as well as regional level. Therefore, age-specific income elasticity and price elasticity are estimated. The estimated model is used to simulate the consumption structure in 2030 for four scenarios: Firstly, only the ageing process of the population is considered. Secondly, the ageing as well as changes in household structure are taken into account. Scenario three and four furthermore consider potential changes in income distribution due to the ageing as well as price changes and its effects on the consumption structure of the ageing society. The results reveal direct positive effects of the ageing of the population on the consumption shares of food and non-alcoholic beverages, housing, water and fuel, health, as well as miscellaneous goods and services, while the consumption category transport looses the highest proportion in total consumption. But it can also be seen that these results do not hold anymore as soon as potential changes in income distribution – as indirect effect of the ageing – are considered.
{"title":"Effects of the Demographic Changes on Private Consumption: An Almost Ideal Demand System Analysis for Austria","authors":"Birgit Aigner Walder","doi":"10.14706/JECOSS11515","DOIUrl":"https://doi.org/10.14706/JECOSS11515","url":null,"abstract":"Abstract: The following paper analyzes potential effects of the demographic changes on private consumption. An extended Almost Ideal Demand System is used to simulate changes in the consumption of goods and services due to the ageing of the population in Austria – on national as well as regional level. Therefore, age-specific income elasticity and price elasticity are estimated. The estimated model is used to simulate the consumption structure in 2030 for four scenarios: Firstly, only the ageing process of the population is considered. Secondly, the ageing as well as changes in household structure are taken into account. Scenario three and four furthermore consider potential changes in income distribution due to the ageing as well as price changes and its effects on the consumption structure of the ageing society. The results reveal direct positive effects of the ageing of the population on the consumption shares of food and non-alcoholic beverages, housing, water and fuel, health, as well as miscellaneous goods and services, while the consumption category transport looses the highest proportion in total consumption. But it can also be seen that these results do not hold anymore as soon as potential changes in income distribution – as indirect effect of the ageing – are considered.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2015-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89799480","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 estimates Equilibrium Real Exchange Rate (ERER) using co-integration methodology to observe relationship between Real Exchange Rate (RER) and selected economic fundamental variables over two different sample periods. Time period of observation influences results and we observe change in signs and direction of relationship between fundamentals and RER suggesting that fundamentals and RER do not have a stable relationship and direction of influence. The findings suggest that RER is not a significant transmission mechanism for real economy towards achieving external balance as RER depreciation is not associated with an improvement in resource balance. Therefore, RER does not have a postulated relationship with resource balance variable. More appreciated RER is associated with an improvement in the external balance of the BH economy which is opposite of an expected role of RER depreciation in brining economy towards external equilibrium. However, pressures on RER sustainability exist due to negative resource balance. Potential disequilibria therefore could not be caught with the existing data which cover the post-war period only, and were marked by continuous negative resource balances.
{"title":"Real Exchange Rate and Real Economic Fundamentals in Transition Economy of Bosnia and Herzegovina (BH)","authors":"A. Arapović","doi":"10.14706/JECOSS11516","DOIUrl":"https://doi.org/10.14706/JECOSS11516","url":null,"abstract":"Abstract: The paper estimates Equilibrium Real Exchange Rate (ERER) using co-integration methodology to observe relationship between Real Exchange Rate (RER) and selected economic fundamental variables over two different sample periods. Time period of observation influences results and we observe change in signs and direction of relationship between fundamentals and RER suggesting that fundamentals and RER do not have a stable relationship and direction of influence. The findings suggest that RER is not a significant transmission mechanism for real economy towards achieving external balance as RER depreciation is not associated with an improvement in resource balance. Therefore, RER does not have a postulated relationship with resource balance variable. More appreciated RER is associated with an improvement in the external balance of the BH economy which is opposite of an expected role of RER depreciation in brining economy towards external equilibrium. However, pressures on RER sustainability exist due to negative resource balance. Potential disequilibria therefore could not be caught with the existing data which cover the post-war period only, and were marked by continuous negative resource balances.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"5 1","pages":"59"},"PeriodicalIF":0.0,"publicationDate":"2015-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87484799","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}
(ProQuest: ... denotes formulae omitted.)IntroductionAs with the case of many industrialized countries, Austria faces a decreasing birth rate and an increasing life expectancy with the consequence of an ageing population. From 2013 to 2030 the share of older people (65 and more years) is expected to rise by 5.8 percentage points: from 18.2% to 24.0%. Simultaneously, the shares of young people (0-19 years) and the potential working population (20-64 years) will decline by 0.8 and 4.9 percentage points, respectively (Statistik Austria, 2013a). These demographic trends will not only be a test for the federal pension system and affect the labour market, but will also influence private consumption. In Austria, private consumption accounts for more than 50 % of GDP (53.6% in 2012; Statistik Austria, 2013b) and is therefore a crucial economic factor, which influences the production side and the demand of labour in an economy, additionally.The consumption behaviour of a household varies greatly by age due to differing preferences and needs with increasing age of the household members. The following paper aims to estimate potential effects of the demographic changes on the structure of private consumption in Austria. An extended Almost Ideal Demand System (AIDS) is estimated to receive age-specific demand equations for Austria as a whole as well as on regional level. The demand system is subsequently used to simulate potential effects of demographic changes (ageing, changing household size), as well as variations in income and prices on the structure of private consumption in Austria up to the year 2030.The paper is structured as follows: Part two gives an overview of the literature. In part three the estimated extended AIDS model and its specifications are defined. In part four data used for the analysis is described. The results of the model estimation, that is income elasticity for seven age groups and price elasticity, are presented in fifth part. Sixth part focuses on the scenarios and the potential effects of population ageing on private consumption in Austria. While scenario 1 shows the direct effects of the ageing of the population, in scenario 2 the changing household size as demographic trend is included, additionally. Scenarios 3 and 4 focus on potential changes in income, as well as prices, and its effects on private consumption. Finally, in chapter 7 a conclusion is given.Literature ReviewHouseholds have a limited income available and choose which goods and services to consume. Microeconomic consumer theory focuses on a household's decision on what and how much to consume. According to theory the choice of goods and services is determined by the preferences of the household, with the aim to maximize utility under the given income of the household and prices of the goods and services (Woeckener, 2006, p. 65ff). The preferences of a household are dependent on household specific characteristics as the size of the household, its composition or ag
(ProQuest:……表示省略公式。)与许多工业化国家的情况一样，由于人口老龄化，奥地利面临出生率下降和预期寿命增加的问题。从2013年到2030年，老年人(65岁及以上)的比例预计将上升5.8个百分点:从18.2%上升到24.0%。同时，年轻人(0-19岁)和潜在工作人口(20-64岁)的比例将分别下降0.8和4.9个百分点(奥地利统计局，2013)。这些人口趋势不仅是对联邦养老金体系的考验，也将影响劳动力市场，还将影响私人消费。在奥地利，私人消费占GDP的比重超过50%(2012年为53.6%;奥地利统计局，2013年b)，因此是一个至关重要的经济因素，它还影响经济中的生产方面和劳动力需求。随着家庭成员年龄的增长，家庭的消费行为因年龄的不同而有很大的差异，因为家庭成员的偏好和需求不同。下面的论文旨在估计人口变化对奥地利私人消费结构的潜在影响。估计扩大的几乎理想需求系统(艾滋病)将得到奥地利整个和区域一级特定年龄的需求方程。需求系统随后被用来模拟人口变化(老龄化、家庭规模变化)以及收入和价格变化对奥地利到2030年私人消费结构的潜在影响。本文的结构如下:第二部分概述了文献。第三部分定义了估计的扩展艾滋病模型及其规范。第四部分描述了用于分析的数据。第五部分给出了模型估计的结果，即七个年龄组的收入弹性和价格弹性。第六部分着重于人口老龄化对奥地利私人消费的情景和潜在影响。虽然情景1显示了人口老龄化的直接影响，但在情景2中，作为人口趋势的家庭人数的变化也包括在内。情景3和情景4关注的是收入和价格的潜在变化及其对私人消费的影响。第七章是本文的结语。家庭有一个有限的收入可用和选择哪些商品和服务消费。微观消费者理论关注的是一个家庭对消费什么和消费多少的决定。根据理论，商品和服务的选择是由家庭的偏好决定的，目的是在给定的家庭收入和商品和服务的价格下实现效用最大化(Woeckener, 2006, p. 65ff)。一个家庭的偏好取决于家庭的具体特征，如家庭的规模、组成或年龄结构、区域或法律参数以及时间的变化。在人口指标方面，家庭的消费行为因年龄的不同而差异很大，因为随着家庭代表年龄的增长，家庭的偏好和需求也有所不同。例如，一般来说，年轻人在教育领域的支出较高，而老年人在保健部门需要更多的商品和服务。相反，与工作相关的支出(如交通或服装)在退休后减少(赫斯特，2008年)。此外，由于人们经历的可比历史、经济或社会框架，不同年龄段的消费结构也不同(Evans, Jamal和Foxall, 2009, p. 158ff)。各种研究都从经验上证明了不同年龄的消费差异。Foot和Gomez(2006)用英国的数据证明，私人家庭的消费结构随着年龄的变化变化很大。…
{"title":"Effects of the Demographic Changes on Private Consumption: An Almost Ideal Demand System Analysis for Austria","authors":"Birgit Aigner-Walder","doi":"10.14706/JEOCSS11515","DOIUrl":"https://doi.org/10.14706/JEOCSS11515","url":null,"abstract":"(ProQuest: ... denotes formulae omitted.)IntroductionAs with the case of many industrialized countries, Austria faces a decreasing birth rate and an increasing life expectancy with the consequence of an ageing population. From 2013 to 2030 the share of older people (65 and more years) is expected to rise by 5.8 percentage points: from 18.2% to 24.0%. Simultaneously, the shares of young people (0-19 years) and the potential working population (20-64 years) will decline by 0.8 and 4.9 percentage points, respectively (Statistik Austria, 2013a). These demographic trends will not only be a test for the federal pension system and affect the labour market, but will also influence private consumption. In Austria, private consumption accounts for more than 50 % of GDP (53.6% in 2012; Statistik Austria, 2013b) and is therefore a crucial economic factor, which influences the production side and the demand of labour in an economy, additionally.The consumption behaviour of a household varies greatly by age due to differing preferences and needs with increasing age of the household members. The following paper aims to estimate potential effects of the demographic changes on the structure of private consumption in Austria. An extended Almost Ideal Demand System (AIDS) is estimated to receive age-specific demand equations for Austria as a whole as well as on regional level. The demand system is subsequently used to simulate potential effects of demographic changes (ageing, changing household size), as well as variations in income and prices on the structure of private consumption in Austria up to the year 2030.The paper is structured as follows: Part two gives an overview of the literature. In part three the estimated extended AIDS model and its specifications are defined. In part four data used for the analysis is described. The results of the model estimation, that is income elasticity for seven age groups and price elasticity, are presented in fifth part. Sixth part focuses on the scenarios and the potential effects of population ageing on private consumption in Austria. While scenario 1 shows the direct effects of the ageing of the population, in scenario 2 the changing household size as demographic trend is included, additionally. Scenarios 3 and 4 focus on potential changes in income, as well as prices, and its effects on private consumption. Finally, in chapter 7 a conclusion is given.Literature ReviewHouseholds have a limited income available and choose which goods and services to consume. Microeconomic consumer theory focuses on a household's decision on what and how much to consume. According to theory the choice of goods and services is determined by the preferences of the household, with the aim to maximize utility under the given income of the household and prices of the goods and services (Woeckener, 2006, p. 65ff). The preferences of a household are dependent on household specific characteristics as the size of the household, its composition or ag","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"30 1","pages":"33"},"PeriodicalIF":0.0,"publicationDate":"2015-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87204790","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 purpose of this study is to investigate whether there is a co-integration amongst (3) three Balkan countries; Bosnia Herzegovina, Macedonia and Turkey in relation to the German stock market (important for the Europe scale). For this purpose, the relevant stock market’s weekly closing values (in the time series) were analyzed between the periods of September 2010 and August 2015. The long-term co-integrated relationship is analyzed by the Johansen Juselius Co-integration Test. The empirical results show that these three Balkan countries have a meaningful, but moderate relationship in reference to the stock markets. In addition, the German stock market has a more powerful effect on the Turkish stock exchange in comparison to the Bosnia Herzegovinian and Macedonian stock exchanges. This paper suggests that international investors can diversify their portfolios in these (3) three Balkan stock markets. Keywords: the Balkans, emerging stock markets, indexes, market linkages, co-integration analysis
{"title":"Co-integration Analysis between the Turkish Stock Market and its Balkan Hinterland Equivalents: Proof From the 2010-2015 Period","authors":"C. Sahin","doi":"10.14706/JECOSS155210","DOIUrl":"https://doi.org/10.14706/JECOSS155210","url":null,"abstract":"Abstract: The purpose of this study is to investigate whether there is a co-integration amongst (3) three Balkan countries; Bosnia Herzegovina, Macedonia and Turkey in relation to the German stock market (important for the Europe scale). For this purpose, the relevant stock market’s weekly closing values (in the time series) were analyzed between the periods of September 2010 and August 2015. The long-term co-integrated relationship is analyzed by the Johansen Juselius Co-integration Test. The empirical results show that these three Balkan countries have a meaningful, but moderate relationship in reference to the stock markets. In addition, the German stock market has a more powerful effect on the Turkish stock exchange in comparison to the Bosnia Herzegovinian and Macedonian stock exchanges. This paper suggests that international investors can diversify their portfolios in these (3) three Balkan stock markets. Keywords: the Balkans, emerging stock markets, indexes, market linkages, co-integration analysis","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"69 1","pages":"105"},"PeriodicalIF":0.0,"publicationDate":"2015-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86448356","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 main goal of this paper is to scientifically examine and propose new approach of stock selection and analysis based on multivariate technique, i.e. discriminant analysis, in order to help investors, individual and institutional, in their decision making process, especially in case of underdeveloped capital markets. Therefore, in this paper we investigate the cross—sectional relation between the independent variables of the model, comprised of beta coefficient and some fundamental variables as well as the average stock returns on the underdeveloped capital market of Bosnia and Herzegovina. We concluded that discriminant analysis is a useful quantitative tool that can help investors in shaping their investment strategies. We also found that the beta coefficient, market capitalization and realized historical return have discriminatory capabilities in case of the capital market of Bosnia and Herzegovina. The real implications of this research can be seen in the shaping of investment strategies of potential investors looking to diversify their portfolios. The main limitations of this study are to be found in the shorter available financial time series in newly formed capitalistic economy, missing data due to the lack of collective records on levels of securities offerings issues.
{"title":"Stock Selection Based on Discriminant Analysis: Case of Capital Market of Bosnia and Herzegovina","authors":"Jasmina Okičić, S. Horvath, Baris Buyukdemir","doi":"10.14706/JECOSS11421","DOIUrl":"https://doi.org/10.14706/JECOSS11421","url":null,"abstract":"The main goal of this paper is to scientifically examine and propose new approach of stock selection and analysis based on multivariate technique, i.e. discriminant analysis, in order to help investors, individual and institutional, in their decision making process, especially in case of underdeveloped capital markets. Therefore, in this paper we investigate the cross—sectional relation between the independent variables of the model, comprised of beta coefficient and some fundamental variables as well as the average stock returns on the underdeveloped capital market of Bosnia and Herzegovina. We concluded that discriminant analysis is a useful quantitative tool that can help investors in shaping their investment strategies. We also found that the beta coefficient, market capitalization and realized historical return have discriminatory capabilities in case of the capital market of Bosnia and Herzegovina. The real implications of this research can be seen in the shaping of investment strategies of potential investors looking to diversify their portfolios. The main limitations of this study are to be found in the shorter available financial time series in newly formed capitalistic economy, missing data due to the lack of collective records on levels of securities offerings issues.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"59 1","pages":"5-15"},"PeriodicalIF":0.0,"publicationDate":"2014-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85827631","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 presents the results of a classroom-based study which I conducted for my PhD thesis. It is an experimental study on the comparative benefits of Isolated and Integrated FFI in primary EFL education. Greek 5th year primary learners aged 10-11 were exposed to Integrated FFI (n= 75) on the English Past Tense and their learning gains were compared to the gains of their peers who were exposed to Isolated FFI (n = 73), as these were first defined by Spada and Lightbown (2008). Integrated FFI was operationalised as the provision of comprehension and production structure-based communicative tasks; that is, tasks that were especially crafted to provide meaningful contexts for the practice of the English Past tense and its progressive aspect. In completing those tasks, learners focused on comprehension and the expression of meaning while they produced the target structures and received corrective feedback on their errors. Isolated FFI was operationalised as the explicit presentation and meta-linguistic explanations of the rules that govern the formation and use of the same target structures, coupled with grammatical consciousness-raising tasks, structural grammar exercises and controlled oral and written production activities. I taught the groups myself as a teacher researcher throughout the intervention, which lasted for 12 hours. The two groups were tested four times; each test was given after completing six hours of treatment and two months after the end of the intervention. The tests included grammaticality judgments, multiple-choice tests, tense formation tests, an open cloze, a question formation task, picture description, sentence matching and text completion tests. I will present the results of the statistical analyses from the comparisons of these groups. One suggestion is that, planned Integrated FFI targeting specific structures in context, if applied consistently for some time, produces equivalent learning gains to Isolated FFI even for elementary-level EFL learners whose opportunities for productive use of the language are generally limited within the classroom context.
{"title":"Impact of Related Acquisition Strategy on Bidding Company Performance","authors":"Mirna Koričan, Zoran Barać, Ivija Jelavic","doi":"10.14706/JECOSS11422","DOIUrl":"https://doi.org/10.14706/JECOSS11422","url":null,"abstract":"This paper presents the results of a classroom-based study which I conducted for my PhD thesis. It is an experimental study on the comparative benefits of Isolated and Integrated FFI in primary EFL education. Greek 5th year primary learners aged 10-11 were exposed to Integrated FFI (n= 75) on the English Past Tense and their learning gains were compared to the gains of their peers who were exposed to Isolated FFI (n = 73), as these were first defined by Spada and Lightbown (2008). Integrated FFI was operationalised as the provision of comprehension and production structure-based communicative tasks; that is, tasks that were especially crafted to provide meaningful contexts for the practice of the English Past tense and its progressive aspect. In completing those tasks, learners focused on comprehension and the expression of meaning while they produced the target structures and received corrective feedback on their errors. Isolated FFI was operationalised as the explicit presentation and meta-linguistic explanations of the rules that govern the formation and use of the same target structures, coupled with grammatical consciousness-raising tasks, structural grammar exercises and controlled oral and written production activities. I taught the groups myself as a teacher researcher throughout the intervention, which lasted for 12 hours. The two groups were tested four times; each test was given after completing six hours of treatment and two months after the end of the intervention. The tests included grammaticality judgments, multiple-choice tests, tense formation tests, an open cloze, a question formation task, picture description, sentence matching and text completion tests. I will present the results of the statistical analyses from the comparisons of these groups. One suggestion is that, planned Integrated FFI targeting specific structures in context, if applied consistently for some time, produces equivalent learning gains to Isolated FFI even for elementary-level EFL learners whose opportunities for productive use of the language are generally limited within the classroom context.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"14 1","pages":"15-25"},"PeriodicalIF":0.0,"publicationDate":"2014-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74253703","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 Millennium Development Goals (MDG) among other things have not only brought poverty reduction onto the global development agenda but have also urged countries to help halve poverty by 2015. Various policy initiatives have been implemented towards actualizing the first MDG. Ghana, through its policy programmes is at the verge of meeting MDG 1 well before 2015. One of such programmes is the Livelihood Empowerment against Poverty (LEAP) which provides direct cash transfers to extreme poor and vulnerable. Do cash transfers add up to the agenda? By invoking a non-parametric chi-square test, we find evidence of the contribution of the cash transfer programme in LEAP-ing beneficiaries out of poverty by supplementing their income levels as well as improving their livelihoods. At least in our study area, we found a 29% decrease in the number of beneficiaries earning below the lower poverty line while 61% have been able to meet part of their basic needs. To ensure a continual reduction in poverty, we argue for the need to fundamentally go beyond short-term gains through co-ordinated, purposeful social and complementary services that will create opportunity for empowerment among the poor and vulnerable households.
{"title":"Combating Poverty towards Actualizing the Millennium Development Goals and Beyond: Do Cash Transfer Programmes add up to the Agenda?","authors":"Muazu Ibrahim, T. Yeboah","doi":"10.14706/JECOSS11425","DOIUrl":"https://doi.org/10.14706/JECOSS11425","url":null,"abstract":"The Millennium Development Goals (MDG) among other things have not only brought poverty reduction onto the global development agenda but have also urged countries to help halve poverty by 2015. Various policy initiatives have been implemented towards actualizing the first MDG. Ghana, through its policy programmes is at the verge of meeting MDG 1 well before 2015. One of such programmes is the Livelihood Empowerment against Poverty (LEAP) which provides direct cash transfers to extreme poor and vulnerable. Do cash transfers add up to the agenda? By invoking a non-parametric chi-square test, we find evidence of the contribution of the cash transfer programme in LEAP-ing beneficiaries out of poverty by supplementing their income levels as well as improving their livelihoods. At least in our study area, we found a 29% decrease in the number of beneficiaries earning below the lower poverty line while 61% have been able to meet part of their basic needs. To ensure a continual reduction in poverty, we argue for the need to fundamentally go beyond short-term gains through co-ordinated, purposeful social and complementary services that will create opportunity for empowerment among the poor and vulnerable households.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"38 1","pages":"101"},"PeriodicalIF":0.0,"publicationDate":"2014-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80686937","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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