Číslo 34, ročník XIII

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The Relevance of “Born Global” Definition in the Research Process
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2019-12) Vaivode, Irena; Sceulovs, Deniss
Purpose of the article: The purpose is to create a new definition of a Born Global (BG) company, more relevant to contemporary global business situation. BG companies are the phenomenon which contributes to national economic development by fostering innovation, creating stocks of skills and knowledge, supporting industrial growth. It would be a right decision to study the options to develop BG companies in Latvia, as a small number of exportcapable sectors represent a factor that renders the Latvian economy sensitive to any changes in the external environment. Developing standard definitions helps to increase the research clarity as well as the comparability of firms across regions, countries and specific industries. Methodology/methods: The research is conducted through literature reviews, case studies, survey studies, and modelling. The focus group discussion was organized to clarify the standard definition of the BG with the aim of using this definition as a basis for further research. Scientific aim: The newly created definition of born global companies is based on scientific justification for all the features it contains. The authors would like to base the justification on the causation and effectuation theories which include all the features associated with orientation to revenues and international market capacity. Findings: The authors highlight the role of defining and predicting of the opportunities for a company to become a BG. The theories help to justify an inclusion of all the corresponding components in the definition. This theoretical justification could serve as the basis for the further investigation of the relationship between effectual conditions and the outcome (potential to be a born global company). Conclusions: Before studying the options to develop BG companies as the growth patterns in Latvia, it is necessary to find the most appropriate definition of the BG. The newly created definition is justified by causation and effectuation theories.
Trend Analysis as a Useful Tool for Monetary Policy in the Real Estate Market
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2019-12) Gryč, Matěj; Poláček, Tomáš; Dohnal, Mirko; Oulehla, Jiří
Purpose of article: The primary purpose of this study consists in the research that focuses on developing various scenarios for central bank interest rate regulation and its impact on property prices. Partial areas include the specification of individual factors and the description of relationships between individual scenarios. Since the study is based on real data and purely numerical calculations and simple statistical methods might not cover the whole issue, the trend analysis was used. After determining the main factors, a model containing a series of scenarios will be built. Based on these scenarios and the individual relationships between them, the oriented transitional graph will be generated. The eight-dimensional model serves as an example to determine transitions between scenarios and to understand the resulting scenario map as a whole. Using this study, we can monitor current market developments and behavior both in the past, present and predict a possible sequence of events in the future. This study builds on the already explored issues and extends the state of scientific knowledge in order to build more advanced models in the future with current factors and new conclusions valid for the continuous progress in the property market. Methodology/methods: Solving with using statistical methods, correlation matrix, trend analysis. Scientific aim: It is to find the correlation that proves the possibility of finding ways to lower house prices through central bank rates. Findings: The central bank interest rate has a direct impact on the real estate market which can be observed in the onset of scenarios in the transition graph. Conclusions: The real estate bubble represented as the housing price index can be affected by the central bank interest rates with the impact on other significant variables on the market.
Does Oil Rent Increase Happiness? A Partial Efficiency Analysis of Selected African Countries
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2019-12) Opaleye, Seun Sylvester; Nwachukwu, Chijioke Esogwa
Purpose of the article: To investigate and ascertain the impact of oil rent on happiness in selected African countries. Methodology/methods: This study employed the trend analysis to graphically illustrate some major data. It also employed the fixed effect to analyse the model and the partial efficiency analysis to rank the countries studied in terms of their efficiency in the use of oil rent to produce happiness. Scientific aim: This study examines the relationship between oil rent, the oil price, the GDP growth, the mineral rent and happiness. Findings: The results show that oil rent does not significantly increase happiness in the countries studied with Cameroun being the happiest country in the panel. Oil prices however significantly increased happiness. The study also found that the economic growth reduces happiness. Conclusions: The study provides evidence that the economic growth alone does not lead to happiness in the country if citizens are not employed and the rate of inflation continues to spiral upward. The study thus concludes that the economic growth must be inclusive in nature through government use of rents to invest in sectors that create value additions and job opportunities for citizens. The study also recommends the setting of the social safety net, as well as ensuring that inflation is properly managed.
Audit Committee Attributes and the Reporting Timeliness of Listed Nigerian Firms
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2019-12) Odjaremu, Gloria Okeoghene; Jeroh, Edirin
Purpose of the article: This study appraised the extent to which audit committee attributes influence the reporting timeliness of listed Nigerian firms. In this light, firm level secondary data were sourced from the financials of 21 randomly selected firms over a 6 year period (2012–2017). Methodology/methods: The ex-post facto research design was the methodological basis of this research. Additionally, both descriptive and inferential statistical techniques were employed to practically analyse the collated data. Diagnostics tests used included the VIF and Breusch Pagan tests and the study’s hypothesis was developed and tested at 0.05 significance level by means of regression analysis. Scientific aim: This research aims to analyse the link between the attributes of audit committees of firms (size, independence and diligence) and the timeliness of financial reporting by obtaining empirical evidence from listed corporate entities in Nigeria. Findings: The results indicate that audit committee attributes (measured by size, independence and diligence) had a significant relationship with financial reporting timeliness among firms in Nigeria. Conclusion: Since the size, independence and diligence of the audit committee was found to have significant influence on the reporting timeliness of firms, we therefore recommend that while firms are continuously monitored to strictly adhere to the guidelines and present stipulated threshold in constituting their respective audit committees; conscious efforts must be made by regulatory bodies to also monitor the compliance levels of firms especially with respect to the level of independence and diligence of the audit committees.
Competitive Position of Bangladesh and China in the Global Clothing Export Market: An Analysis of Revealed Comparative Advantage
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2019-12) Adnan, ATM; Khan, Ayub Nabi; Islam, Mohammad Shahidul
Purpose of the article: The Ready-Made Garment (RMG) industry remains the most crucial segment of Bangladesh’s economy besides the agricultural sector in terms of foreign currency earning via export and employment generation. Several international studies predict that Bangladesh will be the next apparel sourcing hotspot after China due to the availability of reasonably priced labour force and other factors of production. This paper intends to exhibits the relative competitive position of China and Bangladesh for the ready-made garment industry in the global made-up clothing market and how its pattern has changed over the period of 2001–2017. Methodology/methods: Balassa’s RCA indices have been used to calculate for all the 34 product groups under HS 61 and HS 62 for up to four digits level of the study period of 2001 to 2017 of both countries. Descriptive statistical techniques have been applied to reveal the sustainability and predictability of the comparative advantage of both countries. Scientific aim: The findings of the study would be beneficial for the policy-makers and researchers in developing export promotion policies for generating industry competitiveness considering the valuable factors of both countries such as factors of production and geological position. Findings: The analysis has revealed that Bangladesh has achieved a significant comparative advantage over China in 26 product categories out of 34 product categories in 2017, whereas China has able to gain the RCA on only 8 product groups in the same study period. The findings also reveal that although Bangladesh has achieved significant RCA in most of the product types, its volatility remains on the higher side. Conclusion: This paper is one of the trivial pursuits to perform an organized analysis of revealed comparative advantage of Bangladesh and China on clothing (RMG) trade to major global markets

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