rss_2.0Sciendo RSS Feed for Studia Universitatis „Vasile Goldis” Arad – Economics Serieshttps://sciendo.com/journal/SUEShttps://www.sciendo.comhttps://sciendo-parsed.s3.eu-central-1.amazonaws.com/647390284e662f30ba542321/cover-image.jpghttps://sciendo.com/journal/SUES140216https://sciendo.com/article/10.2478/sues-2025-0005<abstract> <title style='display:none'>Abstract</title> <p>This study examines the impact of robotic capital, physical capital, technological change, human capital, and trade globalization on labor income share dynamics in the era of robotic automation. Focusing on China, Germany, Japan, South Korea, and the United States – countries responsible for 79.2% of global industrial robotic installations from 2010 to 2023 – our analysis employs key variables such as labor income share, annual industrial robot installations, gross fixed capital formation, researchers in research and development, human capital index, and trade of goods and services. Estimations using Arellano-Bond, Generalized Estimating Equations, Driscoll-Kraay, and Arellano-Froot-Rogers methods reveal a consistent negative association between labor income share and robotic capital. Conversely, a positive relationship is observed with research and development. Notably, the study underscores the consistent negative impact of physical capital accumulation on labor income share across the Arellano-Bond, Driscoll-Kraay, and Arellano-Froot-Rogers methods. Furthermore, globalization, as assessed by the Arellano-Bond, Generalized Estimating Equations, and Driscoll-Kraay methods, is identified as a factor adversely affecting labor income share.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2025-00052025-01-02T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2025-0003<abstract> <title style='display:none'>Abstract</title> <p>This study investigates the impact of Value Added Tax on Economic Development and Human Capital Development from 1994 to 2022. Employing a longitudinal research design, the study utilizes data specific to Nigeria and obtained from the office of the Federal Inland Revenue Service (FIRS), the Statistical Bulletin of the Central Bank of Nigeria (CBN), and the World Bank. The collected data is then analyzed using the Johansen Co-integration, Vector Error Correction Model, and Vector Autoregressive analysis technique. The research establishes a connection between Value Added Tax (VAT) and the Exchange rate, demonstrating their impact on Economic Development and Human capital development in Nigeria. The verdicts show that both VAT and Exchange Rate significantly impact both Economic Development and Human Capital Development, though negatively. However, these findings are not meant to discourage but rather to serve as a catalyst for change. The recommendations outlined in the study emphasize the importance of training, oversight, exchange rate stabilization, investment in education, and financial security in promoting Economic Development and Human Capital Development in Nigeria. Tax regulatory authorities should improve management of VAT funds to ensure they are utilized for developmental objectives. Finally, organizations such as the EFCC must remain steadfast in their commitment to preventing the misuse or diversion of VAT funds meant for Capital Expenditure and the development of the nation’s human resources, thereby safeguarding the financial security of the government and the nation as a whole.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2025-00032025-01-02T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2025-0004<abstract> <title style='display:none'>Abstract</title> <p>This article presents a comprehensive methodology for processing financial datasets of Apple Inc., encompassing quarterly income and daily stock prices, spanning from March 31, 2009, to December 31, 2023. Leveraging 60 observations for quarterly income and 3774 observations for daily stock prices, sourced from Macrotrends and Yahoo Finance respectively, the study outlines five distinct datasets crafted through varied preprocessing techniques. Through detailed explanations of aggregation, interpolation (linear, polynomial, and cubic spline) and lagged variables methods, the study elucidates the steps taken to transform raw data into analytically rich datasets. Subsequently, the article delves into regression analysis, aiming to decipher which of the five data processing methods best suits capital market analysis, by employing both linear and polynomial regression models on each preprocessed dataset and evaluating their performance using a range of metrics, including cross-validation score, MSE, MAE, RMSE, R-squared, and Adjusted R-squared. The research findings reveal that linear interpolation with polynomial regression emerges as the top-performing method, boasting the lowest validation MSE and MAE values, alongside the highest R-squared and Adjusted R-squared values.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2025-00042025-01-02T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2025-0002<abstract> <title style='display:none'>Abstract</title> <p>Employing a descriptive approach, this study intends to investigate the causal relationship between financial stability and liquidity creation and the effects of foreign ownership, local ownership, and financial stability on liquidity creation. The research sample included 35 banks listed on the Indonesia Stock Exchange based on a purposive sampling technique (non-random sampling) and the observation period between 2013 and 2020 utilizing quarterly data. According to the Granger causality test results, there is no reciprocal relationship between the creation of liquidity and financial stability. This indicates that the research variables avoid endogeneity problems. Using static panel data analysis, we discovered that neither foreign ownership nor financial stability has any impact on the creation of bank liquidity; however, the interaction between foreign ownership and financial stability has a significant positive impact, suggesting that the interaction between the two could become stronger. The asset-side liquidity creation component is the only one that plays this role. Domestic ownership favors liquidity creation, but there is less of an effect when ownership and financial stability are combined. When the creation of liquidity increases, production activities increase, suggesting that economic activity increases. Thus, these findings are useful for regulators and central banks in making economic and banking policies by considering bank ownership and stability.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2025-00022025-01-02T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2025-0001<abstract> <title style='display:none'>Abstract</title> <p>The oil price influences and tendencies have gained, lately major developments both at the European level and on the international level. Moreover, several interconnections between the energy sector and oil price influences have become the panacea of several important research and studies. In this article, we provide a qualitative and quantitative approach to the interconnections manifested between oil price movements and the developments of the energy sector. The study is focused on Central and Eastern European Countries which have similarities and differences both at the energy sector level and economy level. The econometric techniques used in this study reveal the importance of the causality relationship between oil price movements and the energy sector taking into account the macroeconomic context. The conclusions of this study highlight some important fine-tuning aspects that must be recalibrated in Central and Eastern European Countries to increase the economic outcomes, strengthen the energy sector, and respond properly to the oil price movement trends.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2025-00012025-01-02T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0017<abstract> <title style='display:none'>Abstract</title> <p>This study uses an analytical approach to investigate the emerging disconnect between firm size and financial performance, as observed recently from a set of long-term data collected from U.S. public firms. By holding all organizational aspects of a firm constant, it confirms the validity of the old saying that the larger a firm is, the better chance it can secure advantages against rivals and the higher returns it can fetch. However, if the assumption about organizational aspects is removed, the present study shows that if a firm employs its assets to increase production output through hiring additional employees, then the consequently increased organizational inefficiency, as caused by interactions of the employees, will soon erase the expected increase in the output. Additionally, it is also shown, among other results, that when a firm hires additional human labor to meet the increasing market demand, the expected profit will decline after first reaching its maximum level. These results crystalize what has been speculated and what have been empirically observed. In the conclusion section, it is recommended that increasing a firm’s size, in terms of the number of employees, is not a realistic, efficient solution to meeting the challenge of increasing market demand. Instead, any genuine solution must satisfy the condition that it does not increase the organization’s inefficiency of the firm, such as increasing the magnitude of automation and/or digitization.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00172024-10-06T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0016<abstract> <title style='display:none'>Abstract</title> <p>Legislation and regulation have been effective in reducing the gender wage gap in developed countries; however, the gap still exists globally, and progress towards narrowing the gap has been unacceptably slow even in regions where it is improving. This study presents the analysis of gender wage gap in Kenya’s urban labor market by using the World Bank Skills Towards Employability and Productivity Survey (WBSTEPS). This study employed Mincer earnings regressions with Heckman selection correction and the Blinder-Oaxaca and Neumark decomposition procedures to answer the research questions. The results of the wage determination and participation in the labor market show that there is no selectivity-bias problem. Personal characteristics such as education and age, as well as work-related characteristics, are important factors in determining earnings. The magnitude of the gender wage gap varies across the wage distribution, and the results of the wage decomposition reveal that women in urban Kenya earn 84.5-to-86% of men’s earnings. The earnings gap is overwhelmingly due to differences in returns to endowments, which account for between 70% and 94.7% of the total earnings gap. Admittedly, the study found evidence of discrimination against women in the returns to endowments, but also observed pronounced favoritism towards men. However, discrimination against women is more pronounced than favoritism towards men. Addressing the gender wage gap in Kenya requires a multifaceted approach that tackles both systemic biases against women and structural barriers that hinder women from accessing equal opportunities in education, training, and career advancement and government policies that minimize favoritism towards men.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00162024-10-06T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0019<abstract> <title style='display:none'>Abstract</title> <p>The paper explores the relationship between the shadow economy, corruption, and taxes in 25 high-financial developed countries (HFDCs) and 30 low-financial developed countries (LFDCs) using the PVAR method. The results of the impulse-response function show that the corruption perception index (CPI) has a positive correlation with tax revenue and the shadow economy in HFDCs, while tax revenue and the shadow economy are negatively correlated. In contrast, in LFDCs, the shadow economy has a positive correlation with tax revenue and a negative correlation with the CPI. In addition, the study also suggests that there is no relationship between tax revenue and the CPI. From the above findings, we propose several related policies for each group of countries.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00192024-10-06T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0018<abstract> <title style='display:none'>Abstract</title> <p>West Africa has been grappling with various security challenges prompting governments’ intervention via military expenditure both at the country and regional level. Given the sporadic surge in military expenditure in the region and the potential effect such expenditure may exert on investment which is a sin qua non to the development process of any economy or region, this study utilizes the augmented mean group (AMG) approach and the Granger non-causality test in investigating the impact and causal relationship between investment and military expenditure in the Economic Community of West African States (ECOWAS) between 1980 and 2020. With country-specific cross-dependence and heterogeneity adequately accounted for, the study found that military expenditure has a dampening impact on investment at both the panel and country levels; unemployment adversely impacts investment; whereas economic growth stimulates investment (catalytic effect) in the ECOWAS, although at differing levels of significance. The study also established a long-run relationship among the variables; with only economic growth Granger causing investment. The study thus recommends that country-specific and regional-based military policies be established to glean economic growth through viable investment.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00182024-10-06T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0020<abstract> <title style='display:none'>Abstract</title> <p>The mounting environmental concerns have become a pressing issue across industries. Nevertheless, the banking sector has a distinct influence in shaping economic growth and development. This study sought to evaluate the impact of green banking in strengthening corporate value through its level of sustainability reporting in order to address these concerns. A research framework was developed based on theoretical support. The sampled data was collected from banks listed on the Indonesian Stock Exchange from 2018-2021. An empirical analysis was performed through hierarchical regression. The study’s findings indicated that green banking positively and significantly impacts firm value. Furthermore, there is a mediating effect between green banking and business value due to the quality of sustainability reporting. The empirical test revealed that the quality of sustainability reporting has a mediating effect to some extent. The results also showed that there is an interaction between business size (assets) and correlations between firm value and green banking. By undertaking a data-driven research that explains the impact of green banking on business value, this study aims to fill a significant gap in the body of knowledge on green banking and sustainability reporting.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00202024-10-06T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0011<abstract> <title style='display:none'>Abstract</title> <p>The research aims to analyze the differences between male and female employment in Turkey between 2007 and 2022. In this process, various variables are taken into account and the results are supported by TUIK (Turkish Statistical Institute) data. In this study, panel data of TUIK for the years 2007-2022 were used as the methodology. These data were analyzed using SPSS 22 and E-Views programs using Correlation, Anova, Independent Samples t test, Man-Whitney u test and Regression tests. At the end of the analysis, it was seen that there is a high degree of correlation between female and male employment and that there is a high level of difference in terms of employment in all female age groups. According to the regression analysis results, female employment grows by 0.28 units per year, while male employment grows by 0.11 units per year. This shows that female employment has been rising faster than male employment in recent years.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00112024-07-13T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0014<abstract> <title style='display:none'>Abstract</title> <p>The main goals of the study were to examine how transformational leadership affected organizational citizenship behavior, worker productivity, and employee job satisfaction in Indonesian Small- and Medium-Sized Enterprise (SME) settings. The study used a quantitative technique and included 295 people as samples. Since Indonesia is a multi-cultural nation, responses were gathered from employees in multiple cities. Data was gathered via online and print surveys and was then analyzed using SPSS 23 and Smart PLS Software. The findings of this study point to a clear, positive, and substantial relationship between transformational leadership and worker job satisfaction, organizational citizenship behavior, and work performance. Additionally, to job satisfaction and organizational citizenship, it has been shown that employee job performance is somewhat mediated by employee behavior. This is the first paper in the setting of Indonesian SMEs that looks at the impact of transformational leadership on employee job performance after job satisfaction and organizational citizenship behavior.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00142024-07-13T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0012<abstract> <title style='display:none'>Abstract</title> <p>The automotive industry is widely considered to be crucial for the economy, as it reflects economic development in general. Despite interest in financial performance, few studies have considered paying attention to the ownership structure among stockholders. Hence, the study aims to find out how the degree of ownership concentration, measured through the independence indicator of the Bureau van Dijk, is reflected in the financial management of companies in the automotive industry among selected European countries. The generalized method of moments (GMM) technique is widely used while investigating panel data with a short estimating period, i.e. nine years annually in this case. However, this study reveals that, without deploying techniques, subsequently introduced a modified version of GMM estimators with panel data by providing an implementation using Stata statistical software. Otherwise, these particular econometric tools to analyze a dynamic panel can often give false significant estimates. Overall, liquidity seems to be significant in the case of firms with less concentrated ownership, whereas companies with a major owner are affected more by selected macroeconomic variables.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00122024-07-13T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0015<abstract> <title style='display:none'>Abstract</title> <p>The paper analyses the determinants of green development in the Central and Eastern European (CEE) countries pointing out the influence of the sophistication of productive structure and exported goods (economic complexity). The study uses OECD data regarding green development, World Bank Indicators, World Penn Table Data, and MIT Harvard data covering the period of 1996 to 2020, in a heterogeneous panel approach. Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) models are estimated in order to express the influence on green development of the economic complexity index, KOF globalization index, renewable energy consumption, human capital index, and a constructed institutional quality index (computed by using the Principal Component Analysis based on data from World Governance Indicators). All considered variables have a validated statistical influence on green growth in both models. The Dumitrescu-Hurlin causality test revealed a bidirectional causal relationship between institutional quality and green growth and unidirectional ones from economic complexity, human capital and renewable energy to green development and from green development to globalization. Policy implications are also provided.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00152024-07-13T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0013<abstract> <title style='display:none'>Abstract</title> <p>With an emphasis on the mediating role of relational psychological contracts, this study sets out to investigate the structural connection between perceived organizational support (POS), service quality (SERVQ), and customer satisfaction (CS). Using descriptive and inferential statistics, we tested the heuristic model for the relationship using data from 394 clients at selected banks in Nigeria. It was found that both perceived organizational support and service quality significantly affected customer satisfaction, with the former serving as a predictor of the latter. In addition, a positive and statistically significant influence of the relational psychological contract was found in the connection between “POS” and CS, and perceived organizational support and SERVQ. In addition, it was determined that banks must maintain all required standards in gaining customers by continually providing a higher degree of service to keep clients satisfied. The structural nexus between the identified variables stood out as a novel idea with a heuristic model depicted for business practitioners and society’s opportunities.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00132024-07-13T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0006<abstract> <title style='display:none'>Abstract</title> <p>It is commonly accepted that the success and expansion of insurance companies’ underwriting operations, which is indicated by the premiums received from insurance policies, is reflected in their profitability rates. During the period of 2010 to 2021, Iraqi insurance companies in the private sector that are listed on the Iraq Stock Exchange experienced a fluctuation in the increase and noticeable decrease of gross written premiums, which had a negative impact on their profitability ratios. The aim of this investigation is to analyze the underwriting activities carried out by all insurance companies that are publicly listed on the Iraq Stock Exchange spanning from 2010 to 2021, and assess the impact of these activities on the companies’ profitability rates. To evaluate the profitability of these firms, three indicators are used, namely the rate of return on assets, return on equity, and profit margin ratio. The study employs Data Panel models using Eviews 12 to identify the research samples during the study period. Additionally, the pooled regression model is used to compare the findings and test the hypotheses of the study. In a structured manner, data is collected from the annual reports released by the Iraq Stock Exchange. The statistical examination of the findings reveals that the gross written premium has a significant and positive influence on all of the profitability ratios that were evaluated in this study, namely the rate of return on assets, return on equity, and profit margin ratio.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00062024-04-25T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0010<abstract> <title style='display:none'>Abstract</title> <p>Microfinance institutions (MFIs) provide support for the sustainability of livelihood and financial inclusion through social development. Micro-enterprises helps in empowering the communities especially marginalized section worldwide. The MFIs attempt to transform the lives of poor people, through different interventions. It revolved around the social development of marginalized people. In recent decades, microfinance played a vital role in alleviating poverty and involved empowering low-income earners socially and economically. The present study intended to highlight the role of MFIs located in Jabalpur (Madhya Pradesh) in enhancing the social and economic status of beneficiaries. This study also acknowledges the significance of MFIs in eradicating poverty, through financial services. In this research, questionnaire responses were gathered and analyzed from 150 beneficiaries of three MFIs (Credit Access Grameen, ESAF, and Fusion Micro-finance) in Jabalpur. The exploratory data analysis reveals diverse findings, regarding the impact of microfinance on the socio-economic conditions of beneficiaries through improving their savings, supporting the employment generation, and as a whole improving life standards as well as eradicating poverty. Alternatively, MFI programs also assist beneficiaries in employment generation, to a certain extent. The conclusion of the research prioritizes that MFI programs ought to be accelerated more by the Government through different schemes and can be easily accessed to even remote areas for economic expansion and social development of low-privileged people.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00102024-04-25T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0008<abstract> <title style='display:none'>Abstract</title> <p>The relevance of the article is based on an in-depth study of the financial potential of insurers and its impact on the insurance market, which provides valuable information for the stakeholders of the insurance industry. Therefore, this study aims to determine approaches to revealing the essence of the financial capacity of insurers, based on the scientific tools of financial science. The leading approach to the study of this problem is the analysis of the dynamics of liabilities (raised and borrowed funds) and equity capital of insurers and the relationship between them, which enables a comprehensive look at the impact of these indicators on the development of insurance market and internal and external factors that have both an objective and subjective impact on the financial capacity of insurers and the insurance market. The article defines the stages and methodology of assessing the financial condition of insurers. In particular, the normative method, the comparative method, the static method, the formallogical method, the economic-mathematical method, the method of analysis and synthesis became the leading research methods. These assessment methods are crucial for the timely determination of the current state of financial capacity and its potential. Using a multivariate correlation-regression model, the authors demonstrate the importance of various components of financial capacity. The presented results will be useful to various stakeholders in the insurance industry as they provide a deeper understanding of their financial strength, including the dynamics of liabilities, equity and leveraged funds. First of all, it was established that financial resources are the basis of financial capacity. Secondly, the definition of the insurance company’s financial resources as a source and component of the company’s functioning is formulated. Thirdly, it is shown that the insurer’s financial capacity is logically dependent on its investment capacity, which is determined by the amount of financial resources. It was also determined that financial capacity is a dynamic quantity and is manifested only in the process of its use and ideally should be accompanied by its growth. Among them, it was proved that the main components that significantly affect the formation of the financial potential of insurers and the growth of the insurance market of Ukraine are insurance reserves and authorized capital. These conclusions can easily become the basis for the formation of further state insurance policy, which will be followed through legislative reforms, increased competition in the insurance market and will result in an increase in the level of trust among the population.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00082024-04-25T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0007<abstract> <title style='display:none'>Abstract</title> <p>This paper analyzes the relationship between food and oil prices in Nigeria before and during the COVID-19 pandemic, using monthly data from January 2018 to December 2021. The ARDL and NARDL models are applied to estimate the symmetry and asymmetric relationship that exists in food price behavior. The NARDL confirms the presence of asymmetries, and the bound test affirms the co-integration and long-run relationship among the variables. In the long run, there is a significant positive relation between oil price increases and food prices, but the long-run impact of oil price reductions on food prices is not significant. In the short run, only increases in oil prices exert a significant influence on food prices, while decreases in oil prices do not. Furthermore, the COVID-19 period exerts a positive and significant impact on food prices, while COVID-19 cases do not influence food prices in Nigeria.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00072024-04-25T00:00:00.000+00:00https://sciendo.com/article/10.2478/sues-2024-0009<abstract> <title style='display:none'>Abstract</title> <p>The present research aims to analyze the effect of contextual factors affecting the application of artificial intelligence technology in employee recruitment in the furniture industry of Iran, which is a practical purpose and has been carried out in a descriptive-surveillance manner, to find out the reasons, facilitators and limitations of its use with the presented conceptual model. Make this technology understandable to organizations during employee recruitment. To measure and analyze the effect of these factors, a questionnaire was used as an information-gathering tool, which was given to 250 senior managers and middle managers of companies active in the furniture industry of Iran. The results of the analysis of the information obtained in two descriptive and inferential parts, according to the data analysis algorithm in the method of structural equations and Smart PLS software, confirmed the hypotheses of the research and showed that the effective background factors include: technological factors, organizational and environmental have a positive and significant effect on the use of Artificial intelligence in the furniture industry in Iran, and the use of artificial intelligence as a competitive advantage improves the organizational capabilities of recruitment and recruitment (based on data, process, staff) in the furniture industry. Forgives. Also, it makes it easier to carry out “blind” Recruitment of employees processes and review frequent applications, and by simplifying the application analysis process through applicant tracking systems, it can save time and money in human resources processes and reduce discrimination in choices.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sues-2024-00092024-04-25T00:00:00.000+00:00en-us-1