Ekonomika

Straipsnyje analizuojami bendrieji šalies konkurencingumo modeliai regionų aspektu bei moksliniai darbai, kuriuose empiriškai vertinamas regionų konkurencingumas. Išskirti šalies konkurencingumo modelių pranašumai ir trūkumai išryškino regionų konkurencingumo vertinimo sudėtingumą ir kompleksiškumą. Mokslinėje literatūroje paskelbtų konkurencingumo koncepcijų ir empirinių tyrimų sisteminė, loginė ir lyginamoji analizė leido išskirti metodologinius principus ir siūlymus, taikytinus vertinant regionų konkurencingumą bei pabrėžė teoriškai pagrįsto ir susisteminto regionų konkurencingumo modelio svarbą atliekant konkurencingumo vertinimą.

The way of a systematic approach to solving the problems related to the management of the modern state, must go through defining and identifying the bases for the emergence of these problems. Today, the definition of such basics makes the innovation factor relevant, which, on the one hand, is always considered as a catalyst for progress and, on the other hand, is reflected in its socio-economic contradictions. The article discusses the theoretical aspects of innovative processes in modern public administration, issues related to the urgency of introducing innovative methods for the development and refinement of modern public administration. The paper considers innovation not only as a result of fundamental, applied research, new inventions or experimental papers in the technical field, but it is also considered in the field of management as a mean of increasing its effectiveness. In article, the views and conclusions of various scientists related to the innovation process and innova...

XXI century has witnessed a transition into a technological dimension, and in every human activity, there is now a digital model being implemented. The substantial change can be observed in culture as well – a new digital culture, completely different from the traditional one, has emerged and views the world from a dual perspective: “live” (real) on the one hand, and technological on the other. Human consciousness is also changing, bringing selfism, virtual identity, narcissism, global relationships, a novel perception of time and space, defiance of authority, all of which make the generational rift increasingly obvious. The digital culture that exists in two dimensions (global and local) is creating a new global technological landscape that is no longer bound by geography and through its networks, influences people in both positive and negative ways. Several new generations have been and are being formed, which differ markedly from the earlier ones and uphold different principles a...

Strategy specifies the direction. Long-term strategy usually means the ability to answer the following questions:• Where are we now?• Where do we want to go?• How do we get there?Changes in the economical, demographic and political development of the country, the value orientation of the Government expressed by the Forest Policy, the availability of resources, the demand-supply situation in the markets, and the past and present performance of business all greatly affect the formulation of Forest Sector Strategies for the future.This paper examines the first two questions presented above. Firstly, we shall introduce ourselves shortly to the present situation in which the Lithuanian Forest Sector exists. Secondly, we shall look at future possibilities. The important changes of the operating environment of the transitional period in the whole economy of Lithuania are also discussed.

The importance given to the problem of capital structure comes from the influence of debt on equity profitability (financial leverage) and the financial risk induced by debt. This paper is actually an analysis of the evolution of financial risk in the building sector during 2001–2008 on a sample of 11 enterprises in the Galati County, Romania. In this approach, we used information from the balance sheets of enterprises, provided by the Register of Commerce. To carry out this analysis two methods were used, which rely on the breakeven point and the leverage.Analysis of aggregate data reveal a low fluctuating trend of financial risk, which shows that by the end of 2008 the effects of the economic and financial crisis still have not been felt as much as statistics show in 2009. The conclusion that emerges from this study is that the world crisis produces major effects on the building sector, but they can be seen a bit later. The effects are disastrous for economy (lack of work, offs of...

The objective of this paper is to analyse the navigation quality of the websites of Lithuanian banks. Information completeness for investors ensures the correct functioning of capital markets. In banking environments, this goal is reached by increasing the use of the corporate Website. For this reason, to ensure the quality of these online resources is one of the most important challenges for central banks and financial authorities. The content of the corporate Websites is being regulated by the Basel II initiatives, but navigation quality is not being observed by regulators. Since this variable has a significant impact on the quality of a website and can generate competitive advantages, it is necessary to analyse the current practices of financial entities. Financial institutions located in Lithuania find themselves in a rather special situation because the entry of this country into the EU means that they have to adapt to a new cultural environment and incorporate its symbols, rul...

The low-fare airline business has dramatically changed the face of commercial aviation in Europe. The main idea and strategy of airlines following this approach is to focus on cheap fares rather than comfort for passengers. However, the majority of low-fare airlines do not simply copy a given system of their competitors; rather, they design their own strategy by implementing various elements which can be considered as “low-fare”-related. The authors of this article seek to lay a theoretical groundwork in the analysis of low-fare airlines. We employ the “McDonaldization” model of economic sociologist George Ritzer, which was heavily influenced by the German economist and sociologist Max Weber, to analyze cost-saving methods of the Irish airline Ryanair.The authors show how McDonaldization is able to mirror and describe this current trend in the aviation business. According to the results of this study, ‘Ryanair’ (and not its American counterpart Southwest Airlines often used as a syn...

For centuries the mankind believed that all living things, as well as natural resources, had arisen and existed for the benefit of mankind and that their use was possible without any restrictions. Such an approach by humans has done a great deal of damage to the environment. The Climate change, high levels of air pollution, the threat of resource depletion, etc. - these are the problems that led the world to reconsider its classic development plan and focus on tomorrow, the health and well-being of future generations. The Sustainable development is a system of community development that ensures human well-being, quality of life and the right of future generations to enjoy the most protected natural resources and environment from reversible quantitative and qualitative changes in the interests of community economic development and environmental protection. It is a form of economic growth that ensures the well-being of society and is based on the principle that the needs of the presen...

In the scientific literature, there are two opposing views on the relationship between public expenditure and economic growth. The Keynesian view states that public expenditure is an exogenous factor that influences economic growth and can be used as a policy instrument. This point of view is in contrast to the Wagner view that the public expenditure is seen as an endogenous factor or an outcome, not a cause, of economic growth. The primary objective of this study is to test the views of Keynes’s versus Wagner’s in the case of Kosovo by using Public Expenditure (G), Gross Domestic Product and three other components of GDP: Foreign Direct Investment (FDI), Export (EXP) and Total Budget Revenue (TRtax); the variables used in this analysis are quarterly time series data spanning from 2004–2016. To accomplish the set objectives, the Johansen co-integrated technique is used to investigate the long-run relationship between public expenditure and economic growth, while the Granger causalit...

This article deals with the problems of Enterprise Resource Planning (ERP) system selection as the initial and vital phase of ERP system implementation.Firstly, the paper presents an analysis of different classifications of the fundamental criteria for the ERP system selection process, published in scholar sources, and defines two main groups – software-related, and implementation-related ERP selection criteria. Secondly, combining theoretical and practical approaches, the most significant ERP system selection criteria of both groups are identified and reviewed by analyzing and interpreting their definitions and differences. The study is complemented by adding practical/statistical findings produced by different consultancies.The paper concludes that there is no standard classification of ERP selection criteria. They are classified mostly on the basis of scientists’ research interests.The significance of ERP system functionality as the principal software-related ERP selection criter...

Financial-accounting information plays an important role in assessing and forecasting firms’ financial performance. But besides that, there are other external factors affecting the firm’s performance, such as the economic and financial crisis that causes imbalances over the economy and affect the business environment. Thus, based on financial statements data, in this paper, the determinants of financial performance are examined and also the impact of financial crisis on these factors is analysed using the fixed and random effects panel estimators. For this research it was used a sample of non-financial firms from European countries considering annual data from 2006 until 2015. The results achieved by panel data analysis show that crisis exerts a significant positive effect over financial performance as well as liquidity, assets turnover and labour productivity inducing that firms tend to do higher efforts to keep financial performance in face of a crisis. Financial performance is si...

The paper explores the dynamic stochastic general equilibrium model to study the impact of external shocks on the economy of Ukraine. The dynamic stochastic general equilibrium model is constructed for a small open economy that includes households, firms (domestic manufacturers and importers), government, the National Bank and external sector. The model assumes the new-Keynesian approach that includes the so-called “rigidities” of prices and wages, the existence of the households’ consumption habits and investments with adjustment costs. Also, it takes into account the country’s significant dependence on mineral products imports. All goods in the economy are divided into the domestic ones (that are exported and consumed in the country), imports and mineral products. So the purpose of the model is to study the impact of external shocks on the economy of Ukraine, such as a positive shock in world output, a positive shock in the world aggregate demand, a positive shock in the world int...

In the middle of the Fourth Industrial Revolution there is a digital transformation that will completely change our understanding of business. The development of Industry 4.0 with technologies such as Cloud computing, the Internet of Things, and artificial intelligence will significantly impact on current business models. In order to successfully implement the digital transformation and survive in the global market, companies must own adequate intellectual capital. Apart from technical skills, employees will need to adapt to the new digital strategy, organizational structure, and business culture. In response to this trend, there is a need to establish new professions in companies. The aim of this paper is to try to find the answers to the next questions: which professions are needed to be introduced to companies that are digitally transformed and what is their role, as well as what competencies are necessary for company executives to successfully slow down digital transformation.

Consumers have started to search for green products and services as their environmental consciousness has been increasingly rising. As a result, companies have been forced to implement the strategies of green marketing, and marketers began to consider the differences existing between various segments of market in terms of green awareness. The aims of this study are to divide the market into specific consumer groups according to the environmental variables that have been viewed as important in the consumption process of the eco-friendly products; it is done so as to determine whether the significant differences between segments exist in terms of demographic variables and to discover a profile of green consumers in Poland. The self-administrated questionnaire sent via emails and networking websites served as a measurement instrument. As a result of the analyses, the environmental variables allowed for making a segmentation of consumers and discovering three groups: the Potential Green...

www.oecd.org/edu/ahelo Abstract. At a time when innovation, knowledge and human capital are at the core of our economies and societies’ progress, higher education has a key role to play in preparing students to become effective workers and citizens. The OECD has a long standing interest in improving the quality of higher education to equip the next generation with the tools and opportunities for success. But we need to first overcome information gaps in the evidence base on learning. Therefore, the AHELO feasibility study is a groundbreaking attempt to assess whether it is possible to measure on an international scale what undergraduate students know and can do. To provide proof of concept, the AHELO feasibility study is exploring several areas from generic skills to discipline-specific competencies with economics and engineering being the focus at this stage. The aim is to develop different measures, ranging from cumulative performance to measures that capture the learning gain at ...

Straipsnyje apibūdinami ir vertinami valstybės, visuomeninės nuosavybės atstovo, ir individualios (personalinės) įmonės (toliau IPI), privačios nuosavybės atstovo, santykiai. Straipsnio pagrindinė idėja - numatyti valstybės poveikio ir įtakos IPI veiklai priemones (svertus) ir įvertinti juos pagal objektyvius vertinimo kriterijus bei prognozuoti ekonominius ir socialinius šių santykių reguliavimo padarinius visuomenei.

Discriminant analysis consists of assigning an individual to two (or more) distinct populations, on the basis of observations of several characters of the individuals and a sample of observations of these characters from the populations. R. A. Fisher suggested a linear function of variables representing different characters, called linear discriminant function, for classifying an individual into one of the two populations. E. I. Altman adapted this approach to identify bankruptcy risk of corporations. Altman’s model of bankruptcy was estimated for various countries, thereby for Polish economy. Some results of estimation and interpretation of Altman’s model for Polish economy are presented in the paper. Methodological problems of discriminant analysis, especially fulfilling the basic assumptions, the analytical form of the discriminant function, the stability of the model and the estimation problems are also discussed.

In such a tight business competition climate, the management of budget hotel is required to think of innovative and sustainable business strategies in order to survive and compete with other hotels in the long term. Business strategy in question here is to make an innovation that aims to improve Business Process Performance. For that, the management of budget hotel has time to start changing the mindset in running the hotel operations, more process-oriented, so that required a fairly fundamental change in completing a task or job. Completion of a task or job in a business process can be done through a reengineering on a company's business process called Business Process Reengineering (BPR). This study uses correlational research method that aims to test the magnitude of the influence of BPR on Business Process Performance. The data used in the test is obtained from the spread of questionnaires at budget hotels in Surabaya which the results can be concluded that the BPR has a positive and significant impact on Business Process Performance.

Financial-accounting information plays an important role in assessing and forecasting firms’ financial performance. But besides that, there are other external factors affecting the firm’s performance, such as the economic and financial crisis that causes imbalances over the economy and affect the business environment. Thus, based on financial statements data, in this paper, the determinants of financial performance are examined and also the impact of financial crisis on these factors is analysed using the fixed and random effects panel estimators. For this research it was used a sample of non-financial firms from European countries considering annual data from 2006 until 2015. The results achieved by panel data analysis show that crisis exerts a significant positive effect over financial performance as well as liquidity, assets turnover and labour productivity inducing that firms tend to do higher efforts to keep financial performance in face of a crisis. Financial performance is si...

The coronavirus pandemic is an unprecedented event in modern history, not only of aviation, but also of humanity. The negative consequences of the pandemic are not only related to the suspension of flights and the inability to transport passengers, but also have a great impact on other industries, such as the production of aircraft, systems and engines, tourism, the food industry, etc. The suspension of flights has led to many times lower revenues than planned, the dismissal of a large number of employees in this industry, as well as the cancellation of new airplanes ordered. Also, the prescribed health care measures that airlines must apply will affect a smaller number of passengers on planes, which means that each flight will be less cost-effective. Faced with large losses, airlines must organize in order to achieve maximum efficiency and a partial return to the levels of flying and transportation of people and goods that were achieved during 2019. The paper analyses the state and...

Knowledge is presented in various discourses and in different methodological contexts, as generally reduced to modern and postmodern patterns. The methodological assumptions of knowledge marketing are analyzed and practical orientations concordant with the realities of a knowledge society are formulated. The main purpose is to reveal the distinctions between the classical modern modes of rationalization and the information or knowledge model of rationalization, which the author asserts is based on the conception of legitimative trans-informationality grand discourse. Two types of knowledge identities characterize the market and reflect knowledge transfer in social and professional generalization of knowledge.

Competitiveness can be defined in a number of ways. We can think of it as of a successful performance of a company or organization; or we may talk about competitiveness in a macro context such as a favourable exchange rate of a national currency. Can we also talk about competitiveness of a nation? What is it and how can it be evaluated?There does not seem to be a common definition of what the international competitiveness of nations is. Some feel that the very notion of international competitiveness of nations is unfair and unacceptable. They argue that the nations themselves do not compete, their enterprises do. For others the notion of international competitiveness of nations is fair. They believe that creating appropriate measures of international competitiveness is central for tracking and understanding the sources of competitiveness of countries.In this paper I classify and compare the measures developed by various authors. I suggest that the studies on the measurement of compe...

The tourism-poverty alleviation nexus is becoming an increasingly significant subject of academic inquiry within the tourism economics discourse. Using time series data from the World Bank (1995–2017) in a P-ARDL model, the present study explores the relationship between tourism (receipts from exports, the travel subsector, hospitality and accommodation subsector) and poverty alleviation (final household consumption) with tourism arrivals as the control variable within the context of the BRICS group. The results suggest that receipts from the travel subsector and exports met the a priori expectation – positively influencing poverty alleviation within BRICS nations in the long run. Contrastingly, receipts from the hospitality and accommodation subsector did not meet the a priori expectation of a positive sign, with the results indicating statistical insignificance in the long run. However, receipts from the hospitality and accommodation were found to only influence poverty alleviatio...

We assess the relationship between national-level income inequality and carbon dioxide emissions for a sample of eleven post-Soviet nations during the 1992 to 2009 period. Our findings suggest that both total and per capita emissions are positively associated with income inequality, measured as a Gini coefficient. These results are consistent with analytical perspectives that highlight how income inequality could lead to increases in carbon emissions as well as recent sociological research on income inequality and emissions for samples of nations in other structural and geographical contexts.