rss_2.0Sciendo RSS Feed for Folia Oeconomica Stetinensiahttps://sciendo.com/journal/FOLIhttps://www.sciendo.comhttps://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471d480215d2f6c89db2418/cover-image.jpghttps://sciendo.com/journal/FOLI140216https://sciendo.com/article/10.2478/foli-2024-0013ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00132024-07-09T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0012<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Understanding the rationale for macroeconomic policy coordination with the aim of achieving greater policy credibility and effectiveness in West Africa still remains the subject of debate.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>This study evaluates the effect of macroeconomic policy coordination on economic growth uncertainty in West Africa, utilizing a panel data set of the 15 member states from 1980 to 2020.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The study employed Pedroni’s cointegration test procedure and the Generalized Linear Model, fixed effect procedure for evaluation.</p> </sec> <sec><title style='display:none'>Results</title> <p>The stationarity test results show that the variables are stationary at first difference at the 5% significant level, for the common and individual effect tests respectively. The cross section dependence test result indicates that there exists a cross-sectional independence for the variables under consideration. Pedroni’s cointegration test results indicate that there exists a long run relationship between economic growth uncertainty and macroeconomic policy variables. The fixed effect model result shows that monetary policy variable, inflation (INF) affect growth uncertainty negatively. The fiscal policy variable, government debts (DEBTS) indicates a positive sign to growth uncertainty and is significant statistically. The coefficient of the regional trade variable, (TRADE) and exchange rate indicate positive signs and are insignificant statistically.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>It is important to ascertain how uncertainty affect policy coordination gains. Thus this study has utilized the econometric models approach to evaluate the effect of policy decisions as economies encounter exogenous policy shocks in the face of uncertainty, in order to ascertain if coordination is preferred to individual policy decisions.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00122024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0009<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Numerous studies have been conducted on the relationship between trade openness and government expenditure in several developing countries including African countries, however, the studies are limited in South Africa. Therefore, South Africa does not have adequate empirical studies regarding the impact of trade openness on government expenditure, which could assist in developing their trade policies.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The study examines the relationship between trade openness and government expenditure in South Africa for the period 1980 to 2021.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The study uses the autoregressive distributed lag (ARDL) bounds testing approach to cointegration for estimation of the three Models in the study.</p> </sec> <sec><title style='display:none'>Results</title> <p>The estimation results of all of the three models found that in the short run trade openness has a positive and significant impact on government expenditure in South Africa. The results also suggest that the increase in government expenditure seems to be as a result of trade openness, urbanisation and dependency ratio in the short run while inflation also leads to an increase but only in the long run.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>The study uses three proxies of trade openness which are total trade, ratio of exports, and ratio of imports as a percentage of GDP. To the best of our knowledge, the study may be the first of its kind to empirically examine the impact of trade openness on government expenditure in South Africa using three proxies in a single study.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00092024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0010<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>The Russian-Ukrainian war has become a significant factor that has prompted millions of Ukrainian citizens to migrate in search of safety. The demographic situation in Ukraine is deteriorating in both quantitative and qualitative dimensions. The mentioned changes are impacting the domestic and European labour markets.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The article examines the consequences of war migration of the population for domestic and European labour markets.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The study covers the period between 2013 and 2023. Empirical research methods were use in the article: observation, comparison, generalization, forecasting.</p> </sec> <sec><title style='display:none'>Results</title> <p>Ukrainian migrants presently comprise approximately 1% of the population in European Union countries and represent 15% of Ukraine’s overall demographic composition. The prevailing inclination among the majority of these migrants is not to return to Ukraine in the immediate future, with the principal determinant being identified as the prevailing sense of peril. Notably, within the age structure of Ukrainian migrants, a significant 81.2% fall within the economically productive age bracket of 18-49 years. This demographic composition sets the stage for a positive economic effect within the European Union, while concurrently engendering adverse repercussions for the domestic labour market in Ukraine.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>A three-year projection regarding the migration volumes of Ukrainians to the European Union has been delineated. Drawing upon post-war reconstruction experiences worldwide and taking into account the critical demographic landscape in Ukraine, a proposition has been put forth to synergize efforts among the government, international organizations, and donors. This collaborative endeavour seeks to establish a financial fund, wherein resources will be allocated towards the formulation of recommendations and the subsequent design and implementation of programs aimed at the restoration of the domestic labour market.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00102024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0002<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>In mid-April 2020, the global financial markets plunged into financial crisis from the unprecedented worldwide lockdowns for an extended period.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>This paper looks at the COVID-19 pandemic impact on the selected European stock markets and economies in comparison to USA, Israel, and China. The goal of the research is to find out if the pandemic affected different national economies and capital markets in the same way.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>An empirical investigation is conducted for daily returns from stock indexes characterizing 5 developed and 4 post-communist European stock markets together with the above mentioned 3 non-European ones, using statistical inference and a correlation analysis.</p> </sec> <sec><title style='display:none'>Results</title> <p>Our study shows that the COVID-19 pandemic financial crisis had a similar impact on all of the analyzed economies. Although, the GDP growth rate and inflation differ among countries. GDP growth rates in 2021 did not offset the declines from the previous year in Czechia, Germany, France, Italy and the UK. GDP growth and inflation rates in 2021 are bigger in European post-communist countries than in developed countries. All markets apart from the NASDAQ100, SSE, DAX and MSCI Europe reported negative annual rates of return in 2020. The highest risk was observed in the pandemic shock period. In the pandemic stabilization period expected returns from all stock indexes (except FTSE100 and TA35) were significantly positive.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>A comparison of selected markets and economies in different stages of the pandemic. Our study shows that financial markets should now incorporate such an event caused by a pandemic as part of financial crisis studies.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00022024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0005<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Employees of different ages have different needs and capabilities regarding their professional work. Effective age management requires a proper diagnosis of these elements.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The article aims to compare the occupational situation of employees of different ages. An attempt was made to verify how representatives of different age groups (young, mature and older employees) perceive their occupational situation.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>Data were collected through an online survey (CAWI) conducted among a representative sample of 1,067 full-time employees in Poland. Respondents rated the different elements that make up their job situation. As the research progressed, the results were aggregated. The mean score in each age group was calculated. Finally, a series of non-parametric analyses of variance (Kruskal-Wallis test) were carried out to check for any differences between the groups.</p> </sec> <sec><title style='display:none'>Results</title> <p>Of the 24 components of the occupational situation analysed, only 12 showed statistically significant differences between the groups. Some results confirmed intuitive assumptions (e.g. regarding work experience) and some contradicted them (e.g. regarding familiarity with modern technologies).</p> </sec> <sec> <title style='display:none'>Novelty:</title> <p>Many common opinions about the occupational situation of younger and older employees are not reflected in reality.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00052024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0008<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Ghana was the second African country to adopt the inflation-targeting framework in 2007. The country faced persistently high levels of inflation, exceeding 100 percent in the early 1980s. Since the adoption of the inflation targeting regime, the inflation rate has decreased and remains below 20 percent.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>Given the importance of the policy mix in achieving price stability and economic growth in any economy, this study examines which policy mix is more effective in determining the inflation dynamics in Ghana.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>Annual data from 1980 to 2021 and the autoregressive distributed lag (ARDL) were used, firstly on individual monetary and fiscal policy models and then jointly on the policy mix model.</p> </sec> <sec><title style='display:none'>Results</title> <p>Results show that fiscal policy is effective and significant in determining inflation dynamics in Ghana in the long run, while monetary policy is ineffective, less dominant, and statistically insignificant. Monetary policy is effective and significant in the short run. Based on the findings of the study, policy recommendations include giving more attention to the possible coordination of fiscal and monetary policies than has been previously given.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>The study’s originality is in examining if the monetary or fiscal policy (policy mix) effectively regulates the inflation rate in Ghana; the inflation target and the exchange rate as external shocks were included, amongst others and estimating the separate and combined models for the policy mix.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00082024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0003<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>In recent years a demographic crisis has been observed and the inverted age pyramid is hard proof of that. Due to that one can notice a need for a prolongation of the economic activity of older people. However, it is not an easy task in the case of ageism.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The main aim of the article is to find out whether employees in SME from the Poznań poviat experience acts of discrimination due to age.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The article is based on a survey carried out using the CATI and PAPI methods. The research sample consisted of fifty SMEs from the Poznań poviat in the Greater Poland voivodeship.</p> </sec> <sec><title style='display:none'>Results</title> <p>It can be indicated that older workers in most SMEs (54%) experienced acts of age discrimination, mostly in the form of disregard. However, stereotypes and discriminatory actions have not been considered as the most important barrier to effective cooperation between the older and younger generations. Only 18% of enterprises have thus far implemented the anti-discrimination policy.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>The originality of the work is in examining whether SMEs take into account the needs of older employees by adapting working conditions to them, especially in the sociological and psychological spheres. Activities aimed at combating stereotypes should be a priority among company managers. The answers to the research questions clearly justify the need for extensive education about old age and aging, as well as the preparation of the elderly for retirement.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00032024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0011<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>The rapid expansion in recent fintech innovations has garnered researchers’ attention to evaluate its influence on the banking industry.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>In this quest, the current study conducts an interaction analysis to measure the impact of the fintech era on Indian banking stability.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>S imilarly t o p revious s tudies, w e u se a regression analysis and a Pearson correlation on the transition period of the fintech era to measure the impact of explanatory variables on the outcome variables of the Indian banking industry. Furthermore, as a robustness test, we have also used the Generalised Method of Moments system approach. This enabled us to make comparisons with similar studies.</p> </sec> <sec><title style='display:none'>Results</title> <p>Using annual data from 1995 to 2021, the study reveals that, compared to the first fintech era, the second era assisted in reducing NPLs and enhancing financial stability in India. The study concludes that during the second wave of the fintech revolution, through interaction analysis, explanatory variables positively influence banking stability and NPLs.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>The current study contributes toward understanding the significance of fintech development from the context of an emerging country. It also helps to interpret the importance of disruptive forces of fintech development in the banking industry.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00112024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0006<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Purpose</title> <p>The purpose of the article is to identify the factors that influence commuting by bicycle with a specific focus on Tbilisi and Warsaw. Based on the testing of hypotheses, the authors intended to determine how different factors affect commuting by cycling in these two cities.</p> </sec> <sec><title style='display:none'>Design/methodology/approach</title> <p>The study uses a structured and self-administered online questionnaire of bicycle users in both cities. The survey collected data on cycling behaviour, motivations, and perceptions of cycling infrastructure. The population of the cycling community was 12,000 in Tbilisi and 14,000 in Warsaw. The Binary logit regression model was used to determine the influence of variables. The questionnaire is in line with The National Institute for Transportation and Communities of USA.</p> </sec> <sec><title style='display:none'>Findings</title> <p>The study’s findings suggest that while commuting by cycling has significant environmental benefits, there are significant barriers to its adoption, including a lack of infrastructure, safety concerns, and cultural attitudes towards bicycle commuting in Tbilisi and Warsaw. The study also reveals different attitudes among bicycle users.</p> </sec> <sec><title style='display:none'>Research limitations</title> <p>The study’s limitations include the relatively small sample size of the survey and the limited scope of the quantitative survey. Nevertheless, the study provides valuable insights into the opportunities and challenges of promoting cycling as a sustainable mode of transport in these two cities.</p> </sec> <sec><title style='display:none'>Practical implications</title> <p>The practical implications of the study are twofold. First, it highlights the need for a coordinated effort by local authorities, civil society, and private actors to promote cycling as a sustainable mode of transport. Second, it provides specific recommendations for policymakers on how to overcome the barriers to cycling and promote this sustainable means of transport.</p> </sec> <sec><title style='display:none'>Originality/value</title> <p>The study’s originality lies in its focus on two cities with different cultural and political contexts, providing a comparison of how cycling promotion strategies may vary across contexts.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00062024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0001<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>The commitment of manufacturers in research and development activities (R&amp;D) and the realization of technological innovations have become effective means of stimulating economic growth.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The objective of this research is to diagnose R&amp;D activities and innovations within agri-food companies in Morocco that are engaged in the processing of food products by studying the determinants of technological innovations related to product and process within these companies.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>A statistical survey was conducted on a sample of 50 agri-food companies, employing a generalized linear model (GLM) with a probit model belonging to the quasi-binomial family.</p> </sec> <sec><title style='display:none'>Results</title> <p>The econometric analysis of the collected data revealed the presence of complementarity between product innovation and process innovation, as well as differences in the determinants of these two categories of innovations within the studied companies. The determinants are related to the business environment, R&amp;D activity and partnerships, human resource management in teams, technological infrastructure, and market demand.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>This research enriches the literature by examining the determinants of technological innovations (both in terms of products and processes) in the agri-food sector in Morocco. Industry professionals can benefit from the results of this research, which will enable them to better understand the levers of innovation in this field. This information can be used to guide their innovation strategies, identify new opportunities and improve their overall performance.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00012024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0007<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Many studies have been done in the field of predicting the Volatility of Commodities; however, very little or no analysis has been conducted on any sector, industry, or indices to identify which model is best to understand the asset’s characteristics, as there is a hypothesis that all financial time series can be interpreted by implementing the same model.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The primary objective is to identify different tools developed by the researchers in estimating impulsive clustering and leverage effects. A comparison will be made among the available tools of the GARCH family models to suggest the best tool to forecast and calculate volatility with the least error.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The data used are historical time series data of Indian base metal indices, i.e., Aluminum (AL), Copper (CO), Lead (LE), Nickel (NI), and Zinc (ZI) from NSE for a period from 1st June 2012 to 31st August 2022 from the official website of NSE of India. The study compared and attempted to identify which GARCH family model is suitable to measure the volatility clustering and leverage effect in Indian base metal indices by reducing the chances of error.</p> </sec> <sec><title style='display:none'>Results</title> <p>The study has revealed that the GRACH asymmetric models, while approximating and predicting the financial time series, can enhance the model’s output when it has a high frequency. Here, the asymmetric GARCH models (TARCH, CGARCH, EGARCH, and PARCH) better predict volatility than classic models.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>This study is original in its approach, as a previous study stated the presence of volatility or leverage effect by implementing any one tool. However, this study will compare available tools to suggest which is appropriate for which sector. This analysis will support future researchers and practitioners in evaluating volatility clustering and the effect of leverage by implementing the appropriate GARCH family model without believing in a hypothesis that a single model is good enough to predict volatility.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00072024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2024-0004<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Retirement planning is viewed as one of the cornerstones of long-term household financial security. The responsibility of retirement planning has now been shifted to the individual and is no longer the responsibility of the employer.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>This paper examines the link between financial literacy and retirement planning among informal sector traders in the Randburg area of Johannesburg, South Africa.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>A questionnaire approach was used to collect data from 269 randomly selected informal sector respondents. The data was analysed using ordinal regression. Robustness tests were executed using the Wald test.</p> </sec> <sec><title style='display:none'>Results</title> <p>Findings reveal that financial literacy is linked to retirement planning, and especially with reference to informal sector workers. Additionally, education, income and the informal business sector were observed to have a positive and significant influence on retirement planning.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>The paper contributes to both theoretical and practical discourses on retirement planning for informal sector entrepreneurs which has not received much attention. These results are important for policy makers in retirement planning as well as curriculum development.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2024-00042024-05-31T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2023-0038<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Maritime transport helps the development of the economy of countries. Improving the current situation in this type of transport requires the application of modern software tools for assessment, analysis and forecasting.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The aim of this paper is to suggest an approach for an in-depth analysis of marine traffic near to independent ports. This approach is tested and validated for the Varna and Constanta ports for the period 2004–2021. Data from Eurostat are used.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>This paper proposes a new methodology for an in-depth analysis and forecasting of marine traffic of independent nearby ports using public data. Correlations, multiple regression, graphical methods, seasonality and trendlines are used to test and validate the proposed methodology.</p> </sec> <sec><title style='display:none'>Results</title> <p>The results show that the proposed methodology may be applied for other independent ports and periods. The results show some interesting facts about the analyzed ports of Varna and Constanta. Our initial assumptions that these two independent ports have similar seasonality is rejected.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>The novelty of the paper refers to a new methodology for the in-depth analysis and forecasting of marine traffic of independent nearby ports using public data. Using the methodology in this paper (for an in-depth analysis of marine traffic of independent nearby ports) similar research may be done for other nearby ports and periods. Other research may focus on finding the specific types of cargo for each port influencing the differences in seasonality. Nearby ports with separate management may use the proposed methodology for better cargo planning and investment planning.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2023-00382023-12-09T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2023-0034<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>The worldwide fight against climate change and its impacts finds support in the realm of green financing. The realization of the United Nations’ sustainable objectives hinges upon it. Considering that green financing is hailed as the future of banking and investment, it demands a thorough comprehension.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The purpose of this study is to delve into the cutting-edge trends within the domain of green financing research. Employing a mixed-methods approach involving bibliometric and qualitative analysis, this research aims to provide insights into this vital field.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>Utilizing a mixed-methods approach, this study employs a bibliometric analysis, qualitative assessment, and content analysis to delve into the realm of green financing. Over a thousand interconnected papers are quantitatively analyzed, with validation from reputable sources such as Google Scholar, Web of Science, and ScienceDirect.</p> </sec> <sec><title style='display:none'>Results</title> <p>The study’s findings reveal a clear trajectory. China leads in the implementation of green finance within business operations, with the USA following suit. These results underscore crucial applications of green financing within specific research domains.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>This study unveils significant applications of green financing across various research domains. Furthermore, it highlights methods to harness the potential benefits of green financing, thus promoting research and development advancements.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2023-00342023-12-09T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2023-0020<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Providing the microfinance to rural women is the prime concern of the government at central and state level in which the best microfinance programme is the Self Help Group Bank Linkage Programme. However, the Delinquency rate of the SHGBLP loan is on the higher side. As, borrowers do not make their loan repayments on time.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The purpose of this research is to examine which types of self-help groups make timely repayments of an old loan. Also, to find out the different aspects of the loan delinquency rate which affect them and to find out the impact of self-help group maturity on loan repayment.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>For this a total of 300 members were selected from the Udaipur and Banswara district of Rajasthan. Further, Tobit Regression has been applied to find out the factors which affect the loan delinquency percentages in the Self Help Group Bank Linkage Programme.</p> </sec> <sec><title style='display:none'>Results</title> <p>The results highlighted that the maturity of the SHG group affects their repayment performance as old SHGs are functioning well in terms of repayment. The reason for the high delinquency rate is that the members had no surplus Income to repay back because of the failure of Business, natural calamities and medical issues. The members who are repaying the loan back on time are giving from their agriculture and enterprise profits.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>A lot of research has been carried out on the Impact of SHGBLP on many other factors but there is no research that has been done to find out why the programme has high loan delinquencies after being the best together with the impactful microfinance programme.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2023-00202023-12-09T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2023-0016<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>The main purpose of monetary integration between EU countries is to eliminate excessive fluctuations in exchange rates. High volatility in exchange rates can cause various negative economic and financial effects, especially during periods of economic shocks. In addition, estimating the volatility between currencies and their interactions is of great importance for effective portfolio management.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The objective of this research is to scrutinize the transmission of volatility between the currencies of those European Union nations that do not participate in the EURO area, focusing on the exchange rate parity of the US Dollar with seven non-EURO zone currencies.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>Daily volatility in exchange rates was calculated using the Garman-Klass-Yang-Zhang (GK-YZ) method. To investigate the connectedness between these volatilities, we used the Time-Varying Parameter Vector Autoregression (TVP-VAR) frequency connectedness approach.</p> </sec> <sec><title style='display:none'>Results</title> <p>The Average Total Connectedness Index exhibits a significant degree of connectedness of approximately 71.84%. The Net Total Directional Connectedness Index indicates that the CZK, DKK and RON exchange rates are net beneficiaries in aggregate and in a longer term perspective, whereas the DKK, HUF and PLN exchange rates are net beneficiaries in a shorter term horizon. In the context of major global events such as the onset of the COVID-19 outbreak in March 2020 and the start of the Russia-Ukraine conflict in February 2022, it could be observed that the dynamic Total Connectedness Index exhibited a substantial increase, both overall and from a long-term perspective, corroborating theoretical expectations. According to the Net Pairwise Directional Connectedness index, the highest bilateral connectedness overall and in the short run was between DKK and RON, while in the long run between BGN and DKK.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>Examining the connectedness of currencies is of great importance for investors doing business with foreign currency, international cooperation and policies, risk management and portfolio management. Determining the connectedness in different frequency (short and long-term) ranges provides important information for hedging risk. In addition, the bilateral connectedness between currencies is a guide for effective portfolio diversification.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2023-00162023-12-09T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2023-0033<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>In light of the apparent density of the carbon output in the ecosystems of emerging regions, the United Nations has established a manual that puts an emphasis on carbon taxes as one of the quick fixes to environmental uncleanness in evolving states.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The purpose of this research is to look into the impact of monetary and fiscal policy measures on reducing carbon emissions in the ecosystems of Nigeria.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The study employs the Autoregressive Distributed Lag (ARDL) co-integration technique or the bound co-integration technique to confirm the existence of long and short term nexus and the influence of selected financial instruments on pollutant reduction. The study spans 1991 to 2021 and relies on World Bank Development Indicators data on inflation and CO₂ discharges in millions of metric tons. The statistics on tax earnings is derived from the Central Tax Authority in billions of national currency, but the figures on the state’s outlay and broad money supply are generated from the database of the Apex Bank in the country.</p> </sec> <sec><title style='display:none'>Result</title> <p>According to the analysis, financial instruments are not yet being directed toward reducing air pollution and environmental devastation in the country. Further investigation reveals that tax revenue gathering is positively irrelevant, but CO₂ has a strong positive effect on its reduction at lag 1, implying that a more eco-friendly financial strategy is required to combat environmental hazards in Nigeria.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>A Green financial system is a big issue of contention in the global public discussion about rising temperatures. Presently, there are few studies on the management of pollution using financial instruments in emerging regions. This study will serve as one of the leading investigations to align with the United Nations goal to restore our biodiversity through green fiscal and monetary policies. The study strongly suggests that the Nigerian government should pursue green fiscal and monetary mechanisms that include: issuance of green bonds; potential and cost-effective green payment plans, carbon taxation, and ecologically responsible national budgets and investment opportunities.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2023-00332023-12-09T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2023-0021<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Investors today are more inclined towards a financial market that increases their knowledge and excess involvement. It is often observed that they are extensively emotionally involved, that impact financial investors’ investment decisions. It is observed that investors always seek guidance from an expert to invest in more appropriate products and services. This guidance and support lead to reaching the ultimate satisfaction of the participants.</p> </sec> <sec> <title style='display:none'>Purpose:</title> <p>This paper aims to examine the potential mediating role of investor coachability and its impact on financial investors’ emotional intelligence and decision-making styles.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The structured questionnaire was circulated among 106 respondents, of which 102 useful responses were considered. This research used validated scales of the Coachability Quotient questionnaire and the Schutte Self-Report Emotional Intelligence Test (SSEIT). The study has applied multiple regressions to predict rational decision-making and intuitive decision-making style through emotional intelligence and coachability as mediators.</p> </sec> <sec><title style='display:none'>Results</title> <p>The results have found that emotional intelligence has a significant positive linear effect on coachability, with a positive direct impact on intuitive decision-making style. It was also found that emotional intelligence was found to have a significant positive direct effect on intuitive decision-making style and a negative linear direct effect on avoidance decision-making style.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>This research was to introduce the idea of incorporating behavioural finance or financial coaching as standard practice and to help investors learn to cope with the ever-increasing demands of the financial markets.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2023-00212023-12-09T00:00:00.000+00:00https://sciendo.com/article/10.2478/foli-2023-0025<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research background</title> <p>Recent years have brought a serious economic crisis, first caused by the COVID-19 pandemic and later worsened by the Russian invasion of Ukraine. The global economy was greatly affected by these events, so it can be expected to see them affect the post-merger financial performance of companies.</p> </sec> <sec><title style='display:none'>Purpose</title> <p>The aim of the paper is to examine if the pandemic and the Russian invasion of Ukraine had any effect on the financial performance of combined companies during these events in comparison to merged companies for which the 3-year post-merger period ended in 2019.</p> </sec> <sec><title style='display:none'>Research methodology</title> <p>The research methods used involve a critical literature analysis and statistical tests. This study analyses the financial ratios of Polish public companies which participated in legal mergers which were finalised between 2016 and 2018. For each company necessary ROA ratios were calculated (pre-merger ROA ratio, ROA ratio for the 3rd year after the merger). The data was grouped according to the year of the merger and then compared to test the hypotheses.</p> </sec> <sec><title style='display:none'>Results</title> <p>There was no statistically significant difference in the distribution of profitability ratios for the analysed companies before and during the crisis. However, there is evidence that there was a statistically significant increase in profitability ratios pre- and post-merger for legal mergers finalised in 2017.</p> </sec> <sec><title style='display:none'>Novelty</title> <p>The paper provides an initial insight into how the latest economic crisis affected the financial performance of Polish public companies after a legal merger.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/foli-2023-00252023-12-09T00:00:00.000+00:00en-us-1