rss_2.0Business and Economics FeedSciendo RSS Feed for Business and Economicshttps://www.sciendo.com/subject/EChttps://www.sciendo.comBusiness and Economics Feedhttps://www.sciendo.com/subjectImages/Bussiness_&_Economics.jpg700700Effects of Development Aid on Donor’s Exports: A Case of the Czech Republichttps://sciendo.com/article/10.2478/revecp-2022-0008<abstract> <title style='display:none'>Abstract</title> <p>The main goal of foreign aid should be the support of developing regions; however, due to the rising international requirements on the amount of provided aid, donors start to focus on the benefits aid can bring them as well. Both country-specific and general studies have been conducted to evaluate the return of aid from the donor’s perspective, with the majority of them suggesting that provided aid boosts donor’s exports to the developing countries. As no such analysis exists for the Czech Republic, this paper tries to fill this gap and aims to find out whether there is a positive relationship between the Czech aid and Czech exports. While employing the gravity model of international trade, the study, however, suggests that the Czech aid is not statistically significant for the volume of Czech exports. Unlike other donors, the Czech Republic thus leaves a considerable trade potential arising from the foreign aid untapped. The reasons might be other motives behind the Czech aid (both official and unofficial), poor co-operation of aid and trade policies, or changes in trade patterns.</p> </abstract>ARTICLE2022-09-27T00:00:00.000+00:00Exploring the limitations of GDP per capita as an indicator of economic development: a cross-country perspectivehttps://sciendo.com/article/10.2478/revecp-2022-0009<abstract> <title style='display:none'>Abstract</title> <p>In this paper, we explore the drawbacks of GDP per capita in purchasing power parity as an indicator of economic development and well-being and evaluate the factors which diminish its ability to represent the level of life. Firstly, we theoretically outline the issues that might be undermining the suitability of GDP per capita as a measure of well-being, and debate other development indicators. Subsequently, we confront GDP per capita with the most well-known development indicator – the Human Development Index HDI – and calculate the deviations between these two indicators for a panel of 141 countries. To empirically evaluate the potential limitations of GDP in measuring development, we regress the computed deviations between development and GDP on an array of economic, social, and political variables employing a heterogeneous panel dataset and robust fixed effects estimators. The results reveal that countries with higher income inequality and level of economic freedom are characterised by lower development than implied by their GDP per capita. Contrarily, the size of the shadow economy is negatively linked to the deviations of HDI from GDP. Certain sociocultural, geographic, and ecological factors, such as higher fertility rates, cold climate, and the depletion of natural resources, are prevalent among nations ranking higher in GDP per capita than in development.</p> </abstract>ARTICLE2022-09-27T00:00:00.000+00:00Best proxy to determine firm performance using financial ratios: A CHAID approachhttps://sciendo.com/article/10.2478/revecp-2022-0010<abstract> <title style='display:none'>Abstract</title> <p>The main purpose of this study is to investigate the best predictor of firm performance among different proxies. A sample of 287 Czech firms was taken from automobile, construction, and manufacturing sectors. Panel data of the firms was acquired from the Albertina database for the time period from 2016 to 2020. Three different proxies of firm performance, return of assets (RoA), return of equity (RoE), and return of capital employed (RoCE) were used as dependent variables. Including three proxies of firm’s performance, 16 financial ratios were measured based on the previous literature. A machine learning-based decision tree algorithm, Chi-squared Automatic Interaction Detector (CHAID), was deployed to gauge each proxy’s efficacy and examine the best proxy of the firm performance. A partitioning rule of 70:30 was maintained, which implied that 70% of the dataset was used for training and the remaining 30% for testing. The results revealed that return on assets (RoA) was detected to be a robust proxy to predict financial performance among the targeted indicators. The results and the methodology will be useful for policy-makers, stakeholders, academics and managers to take strategic business decisions and forecast financial performance.</p> </abstract>ARTICLE2022-09-27T00:00:00.000+00:00Strategic approach for Polish organizations to implement intraorganizational mobility of employeeshttps://sciendo.com/article/10.2478/ijcm-2022-0008<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Background</title> <p>The importance of intraorganizational mobility of employees (IME) is one of the challenges currently faced by modern organizations, especially in the face of a changing and unpredictable environment. This situation requires organizations to re-code and re-focus on building an employee-friendly environment. One element of this environment may be IME, which, if included in the organization's strategy, gives it an opportunity to use and enhance the potential of its employees.</p> </sec> <sec><title style='display:none'>Research aims</title> <p>The aim of this paper is to present the relationship between intraorganizational mobility and the intraorganizational mobility strategy of modern organizations. The article also includes a search for answers about the organization of such a strategy in terms of its scope for planning and evaluation. It was assumed that a strategic approach to the use of intraorganizational mobility is linked to the nature of the organization and the existence of such procedures.</p> </sec> <sec><title style='display:none'>Methodology</title> <p>This study is empirical in nature. The research was conducted in 2020 in 401 Polish organizations (medium and large). The research method included a diagnostic survey using an on-line questionnaire. Persons holding the position of HR Specialist or HR Manager in a given organization were directly responsible for completing the questionnaires.</p> </sec> <sec><title style='display:none'>Findings</title> <p>The results revealed that only one-third of the organizations surveyed have a strategy in place for intraorganizational mobility. Those organizations that have procedures in place embedded in a strategy are far more likely to make such decisions in a planned manner. Furthermore, it was found that having a strategic approach to intraorganizational mobility is not related to the nature of the organization.</p> </sec> <sec><title style='display:none'>Originality</title> <p>This article makes a significant contribution to the area of research on the importance of internal employee mobility in an organization and its relation to the organization's strategy.</p> </sec> </abstract>ARTICLE2022-09-13T00:00:00.000+00:00Richard Osborne and Dave Laing† (eds.) (2021). . Intellect. 270 pp.https://sciendo.com/article/10.2478/ijmbr-2022-0010ARTICLE2022-09-25T00:00:00.000+00:00Globalization, Transportation and Marketing of Goods Made in Africa: The New Paradigmhttps://sciendo.com/article/10.2478/logi-2022-0014<abstract> <title style='display:none'>Abstract</title> <p>Globalization has brought compelling changes to the world transport systems and ways through which domestic goods are marketed. The main objective of this research is to determine the effect of globalization and transport mode on the marketing of goods made in Africa and the difference in consumer choice for imported products and domestic goods. A 10-item validated structured questionnaire was administered to 300 civil servants of selected parastatals from five states in Nigeria. The feedback statistics showed that a total number of 280 (93.3%) questionnaires were retrieved and 20 (6.7%) were rejected. The results obtained were subjected to analytical procedures of correlation and multiple regression. The study used clothing as research sample to test the effect of globalization and transportation mode on consumer preference for imports over local products and vice-versa. It was found that globalization and chosen transportation mode have a significant effect on marketing of goods made in Africa and on consumer preference. The resultant effects were numerous including capital flight, development of new markets, transport-induced costs, etc. The study recommends governments in Africa to re-orient the African population to appreciate and patronize domestic goods, and implement appropriate modern transportation systems, and ICT tools to promote domestic goods.</p> </abstract>ARTICLE2022-09-25T00:00:00.000+00:00Assessing the effect of new data sources on the consumer price index: a deterministic approach to uncertainty and sensitivityhttps://sciendo.com/article/10.2478/stattrans-2022-0027<abstract> <title style='display:none'>Abstract</title> <p>One of the greatest challenges facing official statistics in the 21st century is the use of alternative sources of data about prices (scanned and scraped data) in the analysis of price dynamics, which also involves selecting the appropriate formula of the price index at the elementary group (5-digit) level. When consumer price indices of goods and services are constructed, a number of subjective decisions are made at different stages, e.g. regarding the choice of data sources and types of indices used for the purpose of estimation. All of these decisions can affect the bias of consumer price indices, i.e. the extent to which they contribute to the overall uncertainty about the resulting index values. By measuring how robust consumer price indices are, one can assess the impact that the decisions made at the different stages of index construction have on the index values. This assessment involves analysing uncertainty and sensitivity. The purpose of the study described in the article was to determine how much and in which direction the consumer price index changes when including scanner and scraped data in the analysis, in addition to the data on prices collected by enumerators. The impact of these new data sources was assessed by analysing uncertainty and sensitivity under the deterministic approach. To the best of the authors’ knowledge, it is a novel application of robustness analysis to measure inflation using new data sources. The empirical study was based on data for February and March 2021, while scanner and scraped data about selected categories of food products were obtained from one retail chain operating hundreds of points of sale in Poland and selling products online. It was found that the choice of a data source has the most significant impact on the final value of the index at the elementary group level, while the choice of the aggregation formula used to consolidate different data sources is of secondary importance.</p> </abstract>ARTICLE2022-09-22T00:00:00.000+00:00Interval shrinkage estimation of the parameter of exponential distribution in the presence of outliers under loss functionshttps://sciendo.com/article/10.2478/stattrans-2022-0030<abstract> <title style='display:none'>Abstract</title> <p>In this paper, we studied estimators based on an interval shrinkage with equal weights point shrinkage estimators for all individual target points ¯<italic>θ</italic> ∈ (<italic>θ</italic><sub>0</sub>,<italic>θ</italic><sub>1</sub>) for exponentially distributed observations in the presence of outliers drawn from a uniform distribution. Estimators obtained from both shrinkage and interval shrinkage were compared, showing that the estimators obtained via the interval shrinkage method perform better. Symmetric and asymmetric loss functions were also used to calculate the estimators. Finally, a numerical study and illustrative examples were provided to describe the results.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Modified exponential time series model with prediction of total COVID-19 cases in Belgium, Czech Republic, Poland and Switzerlandhttps://sciendo.com/article/10.2478/stattrans-2022-0035<abstract> <title style='display:none'>Abstract</title> <p>The coronavirus (COVID-19) pandemic affected every country worldwide. In particular, outbreaks in Belgium, the Czech Republic, Poland and Switzerland entered the second wave and was exponentially increasing between July and November, 2020. The aims of the study are: to estimate the compound growth rate, to develop a modified exponential time-series model compared with the hyperbolic time-series model, and to estimate the optimal parameters for the models based on the exponential least-squares, three selected points, partial-sums methods, and the hyperbolic least-squares for the daily COVID-19 cases in Belgium, the Czech Republic, Poland and Switzerland. The speed and spreading power of COVID-19 infections were obtained by using derivative and root-mean-squared methods, respectively. The results show that the exponential least-squares method was the most suitable for the parameter estimation. The compound growth rate of COVID-19 infection was the highest in Switzerland, and the speed and spreading power of COVID-19 infection were the highest in Poland between July and November, 2020.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Estimation of ( ≤ ) for discrete distributions with non-identical supporthttps://sciendo.com/article/10.2478/stattrans-2022-0029<abstract> <title style='display:none'>Abstract</title> <p>The Uniformly Minimum Variance Unbiased (UMVU) and the Maximum Likelihood (ML) estimations of <italic>R</italic> = <italic>P</italic>(<italic>X</italic> ≤ <italic>Y</italic>) and the associated variance are considered for independent discrete random variables X and Y. Assuming a discrete uniform distribution for X and the distribution of Y as a member of the discrete one parameter exponential family of distributions, theoretical expressions of such quantities are derived. Similar expressions are obtained when X and Y interchange their roles and both variables are from the discrete uniform distribution. A simulation study is carried out to compare the estimators numerically. A real application based on demand-supply system data is provided.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Impact of restrictions on the COVID-19 pandemic situation in Polandhttps://sciendo.com/article/10.2478/stattrans-2022-0034<abstract> <title style='display:none'>Abstract</title> <p>The COVID-19 pandemic has had a substantial impact on public health all over the world. In order to prevent the spread of the virus, the majority of countries introduced restrictions which entailed considerable economic and social costs. The main goal of the article is to study how the lockdown introduced in Poland affected the spread of the pandemic in the country. The study used synthetic control method to this end. The analysis was carried on the basis of data from the Local Data Bank and a government website on the state of the epidemic in Poland.</p> <p>The results indicated that the lockdown significantly curbed the spread of the COVID-19 pandemic in Poland. Restrictions led to the substantial drop in infections – by 9500 cases – in three weeks. The results seem to stay the same despite the change of assumptions in the study. Such conclusion can be drawn from the performance of the placebo-in-space and placebo-in-time analyses.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Polish inequality statistics reconsidered: are the poor really that poor?https://sciendo.com/article/10.2478/stattrans-2022-0031<abstract> <title style='display:none'>Abstract</title> <p>In the present study income inequality in Poland is evaluated using corrected income data to provide more reliable estimates. According to most empirical studies based on household surveys and considering the European standards, the recent income inequality in Poland is moderate and decreased significantly after reaching its peaks during the first decade of the 21st century. These findings were challenged by Brzeziński et al. (2022), who placed Polish income inequality among the highest in Europe. Such a conclusion was possible when combining the household survey data with information on personal income tax. In the present study the above-mentioned findings are further explored using 2014 and 2015 data and employing additional corrections to the household survey incomes. Incomes of the poorest people are replaced by their predictions made on a large set of well-being correlates, using the hierarchical correlation reconstruction. Applying this method together with the corrections based on Brzeziński’s et al. results reduces the 2014 and 2015 revised Gini indices, still keeping them above the values obtained with the use of the survey data only. It seems that the hierarchical correlation reconstruction offers more accurate proxies to the actual low incomes, while matching tax data provides better proxies to the top incomes.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Triads or tetrads? Comparison of two methods for measuring the similarity in preferences under incomplete block designhttps://sciendo.com/article/10.2478/stattrans-2022-0037<abstract> <title style='display:none'>Abstract</title> <p>The measurement of preferences can be based on historical observations of consumer behaviour or on data describing consumer intentions. In the latter case, the measure-ment of preferences is performed using methods which express consumer attitudes at the time of research. However, most of these methods are very laborious, especially when a large number of objects is tested. In such cases incomplete analyses may prove useful. An incomplete analysis involves the division of objects into subgroups, so that each pair of objects appears at exactly the same frequency and all objects are in each subgroup.</p> <p>The purpose of the work is to compare two incomplete methods for measuring the similarity of preferences, i.e. the triad method and the tetrad method. These methods can be used whenever similarities are measured on an ordinal scale. They have been com-pared in terms of their labour intensity and ability to map the known structure of ob-jects, even when all pairs of objects in subgroups cannot be presented equally frequent-ly.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00A comparison of the method of moments estimator and maximum likelihood estimator for the success probability in the Fibonacci-type probability distributionhttps://sciendo.com/article/10.2478/stattrans-2022-0028<abstract> <title style='display:none'>Abstract</title> <p>A Fibonacci-type probability distribution provides the probabilistic models for establishing stopping rules associated with the number of consecutive successes. It can be interpreted as a generalized version of a geometric distribution. In this article, after revisiting the Fibonacci-type probability distribution to explore its definition, moments and properties, we proposed numerical methods to obtain two estimators of the success probability: the method of moments estimator (MME) and maximum likelihood estimator (MLE). The ways both of them performed were compared in terms of the mean squared error. A numerical study demon-srated that the MLE tends to outperform the MME for most of the parameter space with various sample sizes.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Poisson area-biased Ailamujia Distribution and its applications in environmental and medical scienceshttps://sciendo.com/article/10.2478/stattrans-2022-0036<abstract> <title style='display:none'>Abstract</title> <p>In this paper, a new Poisson area-biased Ailamujia distribution has been formulated to analyse count data. It was created by combining two distributions: the Poisson and area-biased Ailamujia distributions, using the compounding technique. Several distributional properties of the formulated distribution were studied. Its ageing characteristics were determined and expressed explicitly. A variety of diagrams were used to demonstrate the characteristics of the probability mass function (pmf) and the cumulative distribution function (cdf). The parameter of the developed model was estimated by employing the maximum likelihood estimation approach. Finally, two data sets were used to demonstrate the effectiveness of the investigated distribution.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00New polynomial exponential distribution: properties and applicationshttps://sciendo.com/article/10.2478/stattrans-2022-0032<abstract> <title style='display:none'>Abstract</title> <p>The study describes the general concept of the XLindley distribution. Forms of density and hazard rate functions are investigated. Moreover, precise formulations for several numerical properties of distributions are derived. Extreme order statistics are established using stochastic ordering, the moment method, the maximum likelihood estimation, entropies and the limiting distribution. We demonstrate the new family’s adaptability by applying it to a variety of real-world datasets.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00An improved ridge type estimator for logistic regressionhttps://sciendo.com/article/10.2478/stattrans-2022-0033<abstract> <title style='display:none'>Abstract</title> <p>In this paper, an improved ridge type estimator is introduced to overcome the effect of multi-collinearity in logistic regression. The proposed estimator is called a modified almost unbiased ridge logistic estimator. It is obtained by combining the ridge estimator and the almost unbiased ridge estimator. In order to asses the superiority of the proposed estimator over the existing estimators, theoretical comparisons based on the mean square error and the scalar mean square error criterion are presented. A Monte Carlo simulation study is carried out to compare the performance of the proposed estimator with the existing ones. Finally, a real data example is provided to support the findings.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Two-stage cluster sampling with unequal probability sampling in the first stage and ranked set sampling in the second stagehttps://sciendo.com/article/10.2478/stattrans-2022-0038<abstract> <title style='display:none'>Abstract</title> <p>In this research work we introduce a new sampling design, namely a two-stage cluster sampling, where probability proportional to size with replacement is used in the first stage unit and ranked set sampling in the second in order to address the issue of marked variability in the sizes of population units concerned with first stage sampling. We obtained an unbiased estimator of the population mean and total, as well as the variance of the mean estimator. We calculated the relative efficiency of the new sampling design to the two-stage cluster sampling with simple random sampling in the first stage and ranked set sampling in the second stage. The results demonstrated that the new sampling design is more efficient than the competing design when a significant variation is observed in the first stage units.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00Book Review „Central Banking in Turbulent Times“, Oxford University Press, 2018 by Francesco Papadia and Tuomas Välimäkihttps://sciendo.com/article/10.2478/jcbtp-2022-0031ARTICLE2022-09-23T00:00:00.000+00:00Board Members’ Educational Background and Financial Performance: Evidence from Eurozone Bankshttps://sciendo.com/article/10.2478/jcbtp-2022-0030<abstract> <title style='display:none'>Abstract</title> <p>This study examines the impact of the quality of board members’ educational background on the financial performance of a group of Eurozone banks. Return on average assets (ROAA), Return on average equity (ROAE), and Tobin’s Q are used as measures to assess bank financial performance. Three indices are used as proxies for board members’ educational qualifications: Eduindex, for all academic qualifications in areas such as business or economics; Eduversal, for all qualifications from business schools ranked by Eduniversal; and EduFT, for all qualifications from business schools ranked by the Financial Times. Our study results offer relevant policy implications. Generally, there is a significant negative effect from Eduversal and EduFT qualifications on bank financial performance. This effect can be explained by the fact that some well-qualified board members use their expertise for their own interest, which, in most cases, is not favourable for bank financial performance. The implication is that the European Central Bank needs to implement more rigorous measures than those currently imposed to control bank board member behaviour and reduce agency problems.</p> </abstract>ARTICLE2022-09-23T00:00:00.000+00:00en-us-1