rss_2.0Studia Universitatis „Vasile Goldis” Arad – Economics Series FeedSciendo RSS Feed for Studia Universitatis „Vasile Goldis” Arad – Economics Series Universitatis „Vasile Goldis” Arad – Economics Series Feed of the Differences Between Female and Male Employment in Türkiye with Different Variables<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>ARTICLEtrue Leadership in Indonesian Diversified-Cultural SME Sector: An Investigation of the Settlement Criteria of Job Performance<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>ARTICLEtrue Performance Among Top10 Automotive Leaders in the EU: Essential Techniques to Investigate the Structure of Moments While Using the GMM with Dynamic Panel Data<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>ARTICLEtrue Complexity as a Determinant of Green Development in the Central and Eastern European (CEE) Countries<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>ARTICLEtrue the Link Between Customer Satisfaction, Service Quality, and Perceived Organizational Support: The Mediating Role of Relational Psychological Contract<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>ARTICLEtrue of Underwriting Activity and its Impact on the Profitability Ratios of the Insurance Companies Listed in the Iraq Stock Exchange<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>ARTICLEtrue Empirical Assessment of Microfinance and its Associated Socio-Economic Development<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>ARTICLEtrue Capacity of Insurance Companies as a Factor of Stable Development of the Ukrainian Insurance Market<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>ARTICLEtrue and Food Price Before and During COVID-19 Pandemic in Nigeria: A Non-Linear ARDL Approach<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>ARTICLEtrue Use of Artificial Intelligence in Employee Recruitment in the Furniture Industry of Iran According to the Role of Contextual Factors<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>ARTICLEtrue Review of Existing Trends, Expansion, and Future Directions of Green Bond Research: A Bibliometric Approach<abstract> <title style='display:none'>Abstract</title> <p>Green bonds serve as an imperative financial tool for mitigating climate change risk and environmental sustainability. It has received significant attention in the current literature, with increased worldwide efforts to fight against global climate change. Yet, the direction of green bonds' literature is currently unclear. Therefore, this paper aims to deliver a comprehensive vision of the literary landscape of green bond research, in consideration of policymakers, major market players, and investors. To achieve this, bibliometric analysis is performed on 342 filtered articles found in the Scopus database, through VOSviewer and Biblioshiny package. A detailed and descriptive evaluation of scholarly data demonstrates the significance of green bonds in accomplishing the objective of sustainable finance and mitigation of climate change. This study broadens our understanding of the literature and conceptual growth of scholarly discussion of green bonds, which gives insight into developing a strong conceptual foundation and future directions for research.</p> </abstract>ARTICLEtrue the Symmetric Effects of Working Capital on Profitability in Turkish Banking: An ARDL Empirical Analysis<abstract> <title style='display:none'>Abstract</title> <p>This paper carried out an empirical study on Return on Assets (ROA), total assets turnover, financial leverage, working capital, and debt-to-equity ratio. This study investigated commercial banks operating in Turkey. A secondary data collection method is used for the data collected from fifteen commercial banks. These banks' financial reports were examined from 2011 to 2022. A line graph is presented for each balance that tells us the volatility ratio in the variables, the unit root test applied to resolve the unit root problem, and the cointegration test used for long-term relationships among variables. The Autoregressive Distributed Lag (ARDL) bound test was performed to measure the short-run and long-run effects. Financial leverage, debt-to-equity ratio, and working capital have short- and long-run effects on ROA. Total asset turnover has only long-run effects on ROA in the Turkish banking industry. This study will be beneficial for investment managers, financial specialists, treasurers, and controllers of the banking industry.</p> </abstract>ARTICLEtrue Local Political Elections Affect Daily Stock Returns? Evidence from the Republic of North Macedonia's MBI10 Index<abstract> <title style='display:none'>Abstract</title> <p>Even though “all politics” are supposedly “local”, as reportedly said Tip O’Neil, the majority of studies on the link between politics and finance focused on presidential elections. This argues that overlooking local elections could result in a gap in the literature, thus it focused on the effect of the 2021 local elections on the stock market in the Republic of North Macedonia. The results could not reject the null hypothesis that local elections did not have any statistically significant effect on the stock prices as only 10% of the stocks traded experienced significant abnormal returns during the election period.</p> </abstract>ARTICLEtrue of Accounting Conservatism on Income Smoothing: Empirical Evidence from Algeria<abstract> <title style='display:none'>Abstract</title> <p>This paper investigates the impact of accounting conservatism on income smoothing as a proxy for accounting manipulation. The study used 993 observations for 133 Algerian companies from 2012 to 2020, where income smoothing was measured by the variations in cash flows relative to earnings. However, conservatism was measured through non-operating accounting accruals, accruals-to-earnings ratio before extraordinary items, and allowances. The results showed that total accruals do not impact income smoothing versus positive impacts from non-operating accruals and allowances to income smoothing. Therefore, the study concluded that accounting conservatism facilitates income smoothing in Algerian companies by extending the discretionary room available for managers to manipulate earnings. These results require accounting regulators to consider the role of conservatism in manipulation when setting or amending accounting standards. They also imply that auditors should give more attention to conservative accounting practices to limit the opportunistic behavior of managers and increase the reliability of financial information.</p> </abstract>ARTICLEtrue of Mortgage Loan Approval in Banks in a Developing Country: Evidence From Nigeria<abstract> <title style='display:none'>Abstract</title> <p>Green This article is aimed at investigating the determinants of mortgage loan approval in developing countries, employing the binary probit model. Loan approval was made the response variable while deposit, amount to borrow, lending rate, gratuity, capacity to pay the loan and character of the borrowers stood as the explanatory variables. Cross-sectional data were collected from the four top banks in Nigeria. The result showed that all the variables had the correct signs but only the capacity to pay the loan has a significant impact in determining the success of mortgage loan approval. Collectively, all the variables have significant power to determine mortgage loan approval. It is therefore suggested that prospective borrowers should ensure that they have all it takes to refund the loan they wish to obtain from commercial banks.</p> </abstract>ARTICLEtrue Investment and Economic Growth Nexus: Does Absorptive Capacity Matter in The African Countries?<abstract> <title style='display:none'>Abstract</title> <p>This study empirically examined the role of the country’s absorptive capacity on the impact of domestic investment on economic growth in the selected five African countries over the study period of 1970 to 2019. In specific, the study examined the impact of domestic investment on economic growth from two models, without the country’s absorptive capacity and with the country’s absorptive capacity. Further, a robust linear ordinary least squares (OLS) methodology including static panel OLS and panel cointegration estimators was employed. The study found that only changes in financial development and infrastructures positively cause changes in the domestic investment-economic growth nexus in the short run while in the long run, trade openness enhances the positive impact of domestic investment on economic growth in African countries. In addition, the study found that domestic investment retards economic growth without the country’s absorptive capacity in the short run and long run respectively in African countries. Therefore, the study recommended that policymakers should invest heavily in infrastructure and financial development systems as well as encourages trade openness for a stable domestic investment-economic growth nexus in African countries.</p> </abstract>ARTICLEtrue of Labor Market Transformation in the Context of Industry 4.0<abstract> <title style='display:none'>Abstract</title> <p>The digitalization of the economy and society in the context of Industry 4.0 affects the labor market. New jobs are being created with new personnel requirements. At the same time, digitalization processes affect countries and sectors of the economy in different ways. The number of employed is declining in some sectors and increasing in others. The ratio of people employed in different industries also differs from country to country. As the digitalization of production relations intensifies, transformation processes in the labor market will increase. In the context of the actualization of digital changes in modern society, the aim of the article is to analyze the labor market under the digitalization of economic relations. The World Development Indicators (WDI) and Digital Intelligence Index (DII) were used to realize the purpose of the study. The study covers 89 countries for 2019. Correlation analysis, standardization, cluster analysis and analysis of variance were used as methods in the research. As a result of the study, the following conclusions were obtained. A strong relationship was found between Gross Domestic Product (GDP) and DII for the whole sample. The cluster analysis process found that the variables form three clusters with values of most indicators by group: at the high, the average and the low levels. Plots of mean and confidence intervals for the variables in each cluster were also plotted. Correlation coefficients were calculated for each cluster. It was found that each group has its own internal patterns.</p> </abstract>ARTICLEtrue Convexities and Some Relevant Properties of Consumer Preference Relations<abstract> <title style='display:none'>Abstract</title> <p>The concept of convexity plays an important role in the study of economics and consumer theory. For the most part, such studies have been conducted on the assumption that consumer preferences are a binary relation that is complete, reflexive and transitive on the set <italic>X</italic> of consumption choices. However, each consumer is a biological being with multidimensional physiological needs so that possible consumptions from different dimensions cannot be compared by using preferences. By removing that unrealistic assumption, this paper examines how the various concepts of convex preferences and relevant properties can be re-established. We derive a series of 10 formal propositions and construct 6 examples to show that (a) a weighted combination of two possible consumptions is not necessarily comparable with any of the consumptions; (b) not every convergent sequence of a consumer’s preferred consumptions asymptotically preserves that consumer’s preference preordering; (c) not all preferences satisfy either positive multiplicativity or additive conservation; (d) three types of preference convexities – weak convexity, convexity and strong convexity – can all be introduced into general convex spaces. This paper concludes with some research topics of expected significance for future works.</p> </abstract>ARTICLEtrue Examination of the Relationship Between Foreign Direct Investment and Trade in Turkey: ARDL Approach<abstract> <title style='display:none'>Abstract</title> <p>This paper is aimed to examine the effect of Foreign Direct Investment inflow on Trade (Export, Import) in Turkey. The study copes the time span from 2006 Q2 to 2019 Q4. The time series datasets, those are retrieved from CBT and FRED database are used in applied econometrical methods such as ADF, PP, Zivot Andrews Unit Root Tests, ARDL bounds testing approach, and the Granger Causality tests, to accomplish the statistical part of the research. Based on the findings, it was supported that there was a positive relationship between FDI and Trade. Additionally, the outputs of Granger causality test indicated that there is a unidirectional causality running from FDI to Trade (Export and Import).</p> </abstract>ARTICLEtrue and Islamic Equity Market Reaction Towards Terrorism: Evidence Based on Target Types, Location and Islamic Calendar Months<abstract> <title style='display:none'>Abstract</title> <p>This study investigates the conventional and Islamic equity market reaction towards terrorism events in Pakistan from 2009 to 2016 using OLS regression and GARCH (1, 1) models. The prospect theory and efficient market hypothesis are the relevant theories. Findings indicate that conventional and Islamic equity market reaction towards terrorism events is very short lived and markets recovers quickly. This study also documents the market reaction to terrorism events based on the target type, location and during the Islamic calendar months. The impact of different target types and different event locations on the conventional and Islamic equity markets varies. The equity markets in Pakistan responds negatively to the attacks on educational institutes and businesses whereas positively to attacks on armed forces’ facilities. Furthermore, conventional equity market responds negatively to terrorist attacks in Karachi and positively to attacks in financial cities and FATA. Interestingly, Islamic equity market responds positively towards the attacks in financial cities and FATA, however, with very minute reaction magnitude. The findings of this study are useful for the investors to manage their portfolios by considering magnitude and direction of market reaction towards terrorism based on the target type, location and Islamic months. Overall, this study concludes that conventional and Islamic equity markets reaction towards terrorism is very minute; however, the conventional and Islamic equity markets reaction varies based on target type, event location and different Islamic calendar months. Furthermore, the findings also suggest that equity markets recover very soon, therefore, markets are efficient in observing these shocks.</p> </abstract>ARTICLEtrue