rss_2.0International Journal of Management and Economics FeedSciendo RSS Feed for International Journal of Management and Economics Journal of Management and Economics Feed coopetition pay off? Benefits of intra-organizational coopetition within business groups<abstract> <title style='display:none'>Abstract</title> <p>Coopetition has gained considerable attention in the management literature. Yet, the best recognized is inter-organizational coopetition. The intra-organizational coopetition is still under-researched and there is a gap in the comprehensive evaluation of the benefits of intra-organizational coopetition. This paper attempts to identify the main positive outcomes in the coopetition relationship between affiliates within business groups based on a survey questionnaire in the largest business groups listed on the Warsaw Stock Exchange. The findings of the study reveal that coopetition at the intra-organizational level generates many benefits. The main ones are resource benefits and improved market and financial performance. The positive effects of intra-organizational coopetition are somewhat similar to the benefits of inter-organizational coopetition. However, some differences support the view on the specificity of coopetition at each level.</p> </abstract>ARTICLEtrue of the COVID-19 pandemic on the transition of people on the Polish labor market – hidden threats<abstract> <title style='display:none'>Abstract</title> <p>The article analyzes changes on the Polish labor market after the outbreak of the COVID-19 pandemic. It aims to assess the effect of the SARS-CoV-2 pandemic on the transition of people on the labor market in Poland. The decided majority of research into the effects of the COVID-19 pandemic on the labor market was based exclusively on resource analysis, omitting stream analysis. This research fills this gap and provides analysis by quarter of the transition of people on the labor market between employment, unemployment, and professional inactivity. The COVID-19 pandemic caused a severe drop in the number of people in work in the second quarter of 2020, similar in level to an analogous increase in the number of people professionally inactive. The effects of the pandemic were much more severe for women than for men. Detailed analysis of transitions on the labor market shows that around 50% of jobs lost due to the outbreak of the pandemic were not regained. Many redundancies were permanent, which may translate into a weakening of the dynamic for the recovery of the labor market in the future.</p> </abstract>ARTICLEtrue role of state aid for the food industry – Based on the example of dairies in Poland<abstract> <title style='display:none'>Abstract</title> <p>There is lack of research on the evaluation of state aid provided to food industry enterprises in Poland, within the framework of general principles of the European Union competition policy, taking into account structure of the industry. The aim of the study is to assess the scale of general public aid for dairies, taking into account the type of enterprises, their size and location. The statistical analysis is based on SUDOP data. The amount of aid granted in 2015–2021 increased as well as the number of beneficiaries of the aid. The highest value share involved subsidies for R&amp;D projects. The share of large dairies in funds is similar to their market share. We witness a significant concentration of aid regionally and among the beneficiaries. Dairy cooperatives accounted for a greater share of the employment of disabled persons and prisoners than other entities, which may be due to their bimodal nature.</p> </abstract>ARTICLEtrue of inheritance and gifts taxation in the European Union<abstract> <title style='display:none'>Abstract</title> <p>Inheritance and gift taxation vary widely among countries in both the design and tax burden. We analyze the impact of a series of factors, such as the country’s affluence, political preferences, preferences for equity, aging ratio, fiscal standing of the state, and the country’s size, on inheritance tax systems. The applied methods involve the random effects ordered logistic regression for tax design and tobit correlated-random effect models for tax revenues. We find that inheritance tax design is mainly determined by demographic factors while tax revenues depend on a broader group of factors including political orientation of a state, condition of an economy, and the size of a country. Higher preferences for equal distribution and commitment to democratic norms are associated with higher tax revenues. Good economic condition of the state boosts revenues, as does country’s higher population. The results shed some light on future evolution of inheritance taxation.</p> </abstract>ARTICLEtrue context of local government participation in the innovation networks: Evidence from Poland<abstract> <title style='display:none'>Abstract</title> <p>Innovation networks help to create innovation ecosystems by strengthen interactions between government, academia, business, and special institutions. The purpose of the article is to identify the relationship between the local context, i.e., the conditions and environment in which the Local Government Unit operates and their participation in the innovation networks. The analysis is based on a survey of 184 local government authorities in Poland, Local Administrative Unit level 2. The present study examines the hypothesis that the more supportive the local context is in the Polish municipalities and cities on district rights, the greater the engagement of local government authorities in local or regional innovation networks. The supportive local context was defined by a set of institutional, economic, geographical, demographic, cultural, political, managerial, and administrative factors. The research findings indicate that the key factors that influence the engagement of local government in local or regional innovation networks are institutional factors.</p> </abstract>ARTICLEtrue the war in Ukraine thwart the green agricultural transformation in the EU? Political economy considerations regarding the case of Germany<abstract> <title style='display:none'>Abstract</title> <p>The war in Ukraine threatens global food security. At the same time, the European Union (EU) plans to advance the green transformation of its agro-food sector, which implies lower agricultural output. Relying on the political economy literature, this study examines if the war can thwart the greening ambitions for EU’s agro-food sector. For this, it explores to what extent the war represents an external event that is large enough to change policy preferences and reviews the positions of major political actors who shape agricultural policy on the EU level and in member states regarding the case of Germany, where the ambition for the green transformation of the economy is particularly strong. It is shown that, for the time being, the war does not impede EU’s greening aspirations. Instead, the major political actors play for time, hoping to forward the green transformation after the end of the war.</p> </abstract>ARTICLEtrue of financial constraints and financial distress on cash holdings<abstract> <title style='display:none'>Abstract</title> <p>The aim of the study is to examine the impact of financial constraints and financial distress on cash holdings, both in normal and crisis times. We collected the 4,406 firm-year observations of companies listed on the Warsaw Stock Exchange (WSE). Our research shows that companies maintain higher cash holdings during a crisis than in a normal period. However, in contrast to our expectations, companies with financial difficulties (constraints and distress) have lower cash holdings both in normal and crisis times. The originality of our research lies in realizing that different sources of difficulties might overlap at the same time (external with internal). We also analyze how cash holdings react to a combined impact of difficulties of different natures (external and internal). We believe that cash holdings have recently increased their meaning as we face the situation of constant and increasing uncertainty: still ongoing COVID-19 crisis prolonged with Russian aggression on Ukraine and outburst of inflation.</p> </abstract>ARTICLEtrue market effects of COVID-19 shocks<abstract> <title style='display:none'>Abstract</title> <p>We study the impact of several Covid-19 related supply shocks. We use a standard wage setting-price setting model of the labor market and analyze the transmission of the shocks to the natural rate of unemployment and production. In a first step, the shocks are analyzed in a general way, graphically and algebraically. In a second step, numerical examples illustrate the effects on the real wage and the labor market equilibrium as well as output. Our theoretical results indicate that the negative supply shocks related to the Covid-19 pandemic are associated with a decline in the natural level of output and employment. Our results are supported by empirical evidence across various countries. However, limitations of the theoretical model can be considerable.</p> </abstract>ARTICLEtrue biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland<abstract> <title style='display:none'>Abstract</title> <p>The COVID-19 pandemic has caused great turbulence in global financial markets. The first goal of this conceptual paper is to explore whether managers of companies listed on the Warsaw Stock Exchange are susceptible to selected behavioral biases related to irrational risk preferences. We also seek to investigate whether susceptibility to these errors may affect selected management practices in the areas of corporate risk management and investment policy. The second major goal of our project is to identify whether there is a link at the micro level, that is, between the aforementioned irrational management practices resulting from susceptibility to behavioral biases and the macro level (i.e., certain macroeconomic indicators, such as aggregate investment, employment, and growth). We hope that our research project will contribute to shifting the paradigm of economics in such a way that the behavioral approach will be increasingly used and acknowledged by researchers.</p> </abstract>ARTICLEtrue trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia<abstract> <title style='display:none'>Abstract</title> <p>The study aims at presenting the specificity of the economy and merchandise trade of unrecognized entities in the Caucasus region, with a particular focus on Abkhazia and South Ossetia. The study also analyses the potential changes in merchandise trade structure and volume. The empirical analysis covers the period between 2015 and 2020. The conducted study has revealed that over the last years, Abkhazia and South Ossetia have improved their economic condition, increasing industrial production, developing services, and maintaining trade exchange with other states. However, as the outcomes of the gravity model of trade indicate, both unrecognized entities do not fully utilize its trade potential, especially with Georgia, Russia, and Turkey. Hence legitimizing trade between Abkhazia and South Ossetia may bring economic benefits not only for both entities but also for other countries, especially their immediate neighbors.</p> </abstract>ARTICLEtrue open? Creative industries and open strategizing challenges<abstract> <title style='display:none'>Abstract</title> <sec> <title style='display:none'>Purpose</title> <p>Although the open strategizing (OS) approach can bring a wide range of benefits, there are also numerous risks identified. These risks are core sources of organizational dilemmas and challenges that appear in the decision-making process in two dimensions of OS – inclusion and transparency, both of which we further explore.</p> </sec> <sec> <title style='display:none'>Design/methodology/approach</title> <p>Following the suggestions of some scholars, we have employed the specific context of research and investigated companies from creative industries in Poland. We applied purposeful sampling with maximum sample variation to collect relevant and rich data and identify shared patterns. We conducted in-depth interviews with the owners or CEOs of the chosen creative firms.</p> </sec> <sec> <title style='display:none'>Findings</title> <p>We have recognized some recurring fears and anxieties accompanying the OS concept in general and different categories of challenges in particular. This paper suggests that a specific mindset reflected in a particular organizational climate (open climate) might undermine a company’s efforts in considering and adopting such a strategy.</p> </sec> <sec> <title style='display:none'>Originality</title> <p>By offering an initial conceptualization of an open climate as a potential further research avenue, this study contributes to the OS stream of research.</p> </sec> </abstract>ARTICLEtrue impact of organizational learning on Polish SME market performance<abstract> <title style='display:none'>Abstract</title> <p>The main purpose of this paper is to analyze impact of organizational learning (OL) on Polish small- or medium-sized enterprise (SME) performance. Results are based on interviews with owners and managers from two samples of Polish small- and medium-sized firms: a “pre-COVID-19” sample (the survey was conducted during May–July 2019) and a “COVID-19” sample (the survey was conducted during December 2020–January 2021). The results based on the “pre-COVID-19” sample show partial support for the hypothesis about a positive relationship between market performance and OL for Polish SMEs. Two out of three measures of OL, i.e., the diversity of information sources and the commitment to learning, showed positive relationship with two aspects of market performance, i.e., the sales dynamics and the self-assessed success as compared with that of competitors. None of the OL measures have been correlated with the financial results. For the “COVID-19” sample, commitment to learning showed very weak positive correlations with both financial results and sales dynamics. These relationships were not confirmed when other firms’ characteristics had been included.</p> </abstract>ARTICLEtrue to neutralize the country-of-origin effect in the emerging market firms international branding<abstract> <title style='display:none'>Abstract</title> <sec> <title style='display:none'>Paper’s objectives</title> <p>The purpose of this paper is to examine the ways in which to neutralize the country-of-origin (COO) effect (COE) in the emerging market of firms’ international branding.</p> </sec> <sec> <title style='display:none'>Design/methods applied/approach used</title> <p>A multiple-case study of five companies from European and Asian emerging markets – owners of household appliances brands, with data sourced from in-depth interviews and secondary sources.</p> </sec> <sec> <title style='display:none'>Findings</title> <p>Companies from emerging markets neutralize the genuine COO in their international branding in various ways, for example, by applying brand or sub-brand names that do not refer to the genuine country-of-brand-origin, using slogans in foreign languages or establishing brand alliances with partners from developed countries.</p> </sec> <sec> <title style='display:none'>Originality/value</title> <p>This study offers original insights fostering a better understanding of international branding strategies applied by emerging market companies by identifying the ways they neutralize the COE both at the brand concept level and brand marketing communication tools.</p> </sec> </abstract>ARTICLEtrue on the market of audit services provided to publicly listed companies: Evidence from Poland<abstract> <title style='display:none'>Abstract</title> <sec> <title style='display:none'>Paper’s objectives</title> <p>The main purpose of the article was to identify the level of concentration on the market of audit services provided to public companies listed on the Warsaw Stock Exchange. The additional aim of the article was to identify the level of rotation among companies providing audit services to public companies listed on the Warsaw Stock Exchange.</p> </sec> <sec> <title style='display:none'>Methods applied</title> <p>The research conclusions were formulated based on the analysis of 3,960 annual reports prepared in the years between 2011 and 2019 by companies listed on the Warsaw Stock Exchange.</p> </sec> <sec> <title style='display:none'>Findings</title> <p>The study found that over the years from 2011 to 2016 the concentration (measured by BIG4, CR<sub>4</sub>, CR<sub>8</sub>, and 10KAP indicators) on the market of auditing services provided to public companies increased. However, as of 2017, this concentration began to decline. This demonstrates the effectiveness of the new regulations on the audit market. In the analyzed period, eight audit firms, referred to in the article as “leading”, provided their services to an average of &gt;62% of public companies. Their share in the market of auditing services varied from sector to sector. At the turn of 2016 and of 2017, a significant increase in the level of rotation on the market of audit services provided to public companies was observed. This level varied from sector to sector.</p> </sec> <sec> <title style='display:none'>Originality/value</title> <p>The literature on the subject has not yet presented a comprehensive analysis of the impact of EU directives on the structure of the Polish market of audit services provided to public companies. This issue is a research gap, which has been filled in this article.</p> </sec> </abstract>ARTICLEtrue an increase in education quality cause developing countries to catch up?<abstract> <title style='display:none'>Abstract</title> <p>We investigate whether increasing the education quality causes increases in economic growth allowing poorer countries to catch up. To this end, we extend Nelson-Phelps's classic paper by introducing differences in education quality (proxied by students' performance on the Program for International Student Assessment [PISA] test) in a leader-follower type of growth model with knowledge diffusion. We use students' performance in a standardized international PISA test to measure education quality's impact on economic growth using a panel Vector Error Correction allowing for cross-correlation in the co-integration analysis in a set of all countries observed over the years 1975–2018. Additionally, we consider the possible reverse causality that characterizes economic development and the quality of education. Our results confirm the relevance of education quality as a significant causal factor of economic growth. However, further analyses indicate that the discussed relation is long-run, which may have important implications for policymakers.</p> </abstract>ARTICLEtrue is the missing value? Evidence from the game industry IPOs underpricing in Poland<abstract> <title style='display:none'>Abstract</title> <p>The underpricing phenomenon on financial markets has long been the research subject in many financial areas – from neoclassical to behavioral finance. Once confirmed as a persistent pattern, it has begun an ongoing discussion as to its possible causes. Our study examined the phenomenon of IPO underpricing for companies from the game sector in Poland from 2016 to 2020. Many IPOs in Poland have attracted both international companies and investors, making the Warsaw Stock Exchange a kind of financial hub for game companies. Analyzing the whole IPO market in Poland, we however found substantial IPO underpricing, which is statistically higher in the game sector than in the no-game group of debuting companies. Our research argues that the issuer's industry may influence the size of the IPO's first-day return. We also noticed that the way the IPO was carried out influenced the underpricing. Greater underpricing characterized private offers compared to public offers.</p> </abstract>ARTICLEtrue of reviewers in 2022 potential vs. the competitive position of the high-tech sector in European Union countries<abstract> <title style='display:none'>Abstract</title> <p>Despite a considerable body of research and gathering information on advanced technologies, there is still a study gap concerning its importance from the perspective of international competitiveness. Therefore, a question arises: what affects the competitive potential and how does it contribute to the competitive position of the high-tech sector in European Union (EU) countries? For this reason, a study was taken up to evaluate the competitive potential and competitive position of the high-tech sector in EU countries. Defining the competitiveness, competitive potential, and competitive position in the industry was the starting point for the analysis. Further, selected indices were used to evaluate the competitive potential and to establish a competitive position. The synthetic competitiveness index was also calculated. The study identified the decisive factors having an impact on the competitive potential and competitive position of the sector and the relationship between them.</p> </abstract>ARTICLEtrue the potential of the creative economy to restore Ukraine<abstract> <title style='display:none'>Abstract</title> <p>The concept of the creative economy in the modern global world is filled with new meanings and acquires many qualitatively new features and properties. The article describes the development of creative economy models. A comparative analysis of the characteristics of the creative economy in EU countries and Ukraine was carried out. Through statistical analysis of creative activities in the economy of Ukraine, we determined the list of growth parameters. Using analysis of the studies on the creative economy in Ukraine, we determined the peculiarities and problems of its formation to formulate the principles and priorities of the state policy for the development of the creative economy in Ukraine. The modern model of the creative economy of Ukraine is proposed to be supplemented by the development of creative human potential.</p> </abstract>ARTICLEtrue