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Book part
Publication date: 9 November 2023

Anna Szelągowska and Ilona Skibińska-Fabrowska

The monetary policy implementation and corporate investment are closely intertwined. The aim of modern monetary policy is to mitigate economic fluctuations and stabilise economic…

Abstract

Research Background

The monetary policy implementation and corporate investment are closely intertwined. The aim of modern monetary policy is to mitigate economic fluctuations and stabilise economic growth. One of the ways of influencing the real economy is influencing the level of investment by enterprises.

Purpose of the Chapter

This chapter provides evidence on how monetary policy affected corporate investment in Poland between 1Q 2000 and 3Q 2022. We investigate the impact of Polish monetary policy on investment outlays in contexts of high uncertainty.

Methodology

Using the correlation analysis and the regression model, we show the relation between the monetary policy and the investment outlays of Polish enterprises. We used the least squares method as the most popular in linear model estimation. The evaluation includes model fit, independent variable significance and random component, i.e. constancy of variance, autocorrelation, alignment with normal distribution, along with Fisher–Snedecor test and Breusch–Pagan test.

Findings

We find that Polish enterprises are responsive to changes in monetary policy. Hence, the corporate investment level is correlated with the effects of monetary policy (especially with the decision on the central bank's basic interest rate changes). We found evidence that QE policy has a positive impact on Polish investment outlays. The corporate investment in Poland is positively affected by respective monetary policies through Narodowy Bank Polski (NBP) reference rate, inflation, corporate loans, weighted average interest rate on corporate loans.

Details

Modeling Economic Growth in Contemporary Poland
Type: Book
ISBN: 978-1-83753-655-9

Keywords

Book part
Publication date: 9 November 2023

Mariusz Kicia and Dominika Kordela

Fiscal and monetary policies are essential to the development of a capital market. In this chapter, authors present how fiscal and monetary policy in Poland evolved and adjusted…

Abstract

Research Background

Fiscal and monetary policies are essential to the development of a capital market. In this chapter, authors present how fiscal and monetary policy in Poland evolved and adjusted to economic challenges in 1998–2022. It is worth noticing that the Polish economy and financial market have been built from scratch after 45 years of socialism. Hence, it is scientifically interesting to study the relationship between fiscal and monetary policy, and capital market in a developing country, and in a relatively young economy.

Purpose of the Chapter

Both – the macroeconomic policy mix and development of the capital market – are the subject of analysis how fiscal and monetary policy impacted the capital market. As so the main aim of the chapter is the assessment of the nexus and dependencies between fiscal and monetary policy and the capital market.

Methodology

In the chapter, multiple linear regression was used for each dependent variable to discover which monetary and fiscal policy parameters significantly predicted selected variables describing the development of the capital market in Poland. Fiscal and monetary policy variables served as descriptors explaining capital market parameters in seven separate models.

Findings

Multiple regression models explain 77.3%–95.4% of the volatility of the capital market characteristics. The level of the central bank's reference rate is a variable that influences the capital market the most. In six out of seven models, the interest rate was a significant parameter. The development of the capital market was accompanied by a higher tax-to-GDP ratio. At the same time, a strong negative impact of the tax-to-GDP increase was noticed in domestic institutional investors' stock trading.

Details

Modeling Economic Growth in Contemporary Poland
Type: Book
ISBN: 978-1-83753-655-9

Keywords

Book part
Publication date: 7 February 2024

Anne M. Hewitt

At the beginning of the 21st century, multiple and diverse social entities, including the public (consumers), private and nonprofit healthcare institutions, government (public…

Abstract

At the beginning of the 21st century, multiple and diverse social entities, including the public (consumers), private and nonprofit healthcare institutions, government (public health) and other industry sectors, began to recognize the limitations of the current fragmented healthcare system paradigm. Primary stakeholders, including employers, insurance companies, and healthcare professional organizations, also voiced dissatisfaction with unacceptable health outcomes and rising costs. Grand challenges and wicked problems threatened the viability of the health sector. American health systems responded with innovations and advances in healthcare delivery frameworks that encouraged shifts from intra- and inter-sector arrangements to multi-sector, lasting relationships that emphasized patient centrality along with long-term commitments to sustainability and accountability. This pathway, leading to a population health approach, also generated the need for transformative business models. The coproduction of health framework, with its emphasis on cross-sector alignments, nontraditional partner relationships, sustainable missions, and accountability capable of yielding return on investments, has emerged as a unique strategy for facing disruptive threats and challenges from nonhealth sector corporations. This chapter presents a coproduction of health framework, goals and criteria, examples of boundary spanning network alliance models, and operational (integrator, convener, aggregator) strategies. A comparison of important organizational science theories, including institutional theory, network/network analysis theory, and resource dependency theory, provides suggestions for future research directions necessary to validate the utility of the coproduction of health framework as a precursor for paradigm change.

Book part
Publication date: 4 April 2024

Emre Bulut and Başak Tanyeri-Günsür

The global financial crisis (GFC) of 2007–2008 had far-reaching consequences for the global economy, triggering widespread economic turmoil. We use the event-study method to…

Abstract

The global financial crisis (GFC) of 2007–2008 had far-reaching consequences for the global economy, triggering widespread economic turmoil. We use the event-study method to investigate whether investors priced the effect of significant events before the Lehman Brothers' bankruptcy in European and Asia-Pacific banks. Abnormal returns on the event days range from −4.32% to 5.03% in Europe and −5.13% to 6.57% in Asia-Pacific countries. When Lehman Brothers went bankrupt on September 15, 2008, abnormal returns averaged the lowest at −4.32% in Europe and −5.13% in Asia-Pacific countries. The significant abnormal returns show that Lehman Brothers' collapse was a turning point, and investors paid attention to the precrisis events as warning signs of the oncoming crisis.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Article
Publication date: 29 June 2022

Mahsa Kamalipoor, Morteza Akbari, Seyed Reza Hejazi and Alireza Nazarian

COVID-19 has affected most business activities, including technology-based business. The higher the business vulnerability rating, the greater the impacts. After identifying three…

Abstract

Purpose

COVID-19 has affected most business activities, including technology-based business. The higher the business vulnerability rating, the greater the impacts. After identifying three dimensions of vulnerability (exposure, business sensitivity and response capacity), this study aims to determine the potential components and indicators of the vulnerability of technology-based businesses.

Design/methodology/approach

Using the indicator approach, a comprehensive vulnerability model was developed for assessing the vulnerability of the technology-based business against COVID-19.

Findings

In this study, COVID-19, as a biological threat and an exogenous shock, was considered the exposure dimension. Business characteristics, job characteristics, business owner-manager demographics, product and supplier characteristics were identified as the sensitivity dimension, while resources, human capital, technological capitals, social capitals, institutional capitals, infrastructures, management capacity and supply chain capabilities were defined as the adaptive business capability or response capacity. To determine vulnerability and response capacity against exogenous shocks and a pandemic crisis, the framework can act as a useful checklist for managers and owners of technology-based businesses.

Originality/value

Research on the COVID-19, especially in the technology-based business, is still at the emergent stage. This study is a pioneering effort to review the literature on business vulnerability and provide a framework to reduce business vulnerability using the indicator-based approach.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 5
Type: Research Article
ISSN: 0885-8624

Keywords

Book part
Publication date: 11 December 2023

Piero Dominici

The ongoing anthropological transformation urges the rethinking of education, underlining the inadequacy of our schools and universities in dealing with hypercomplexity, that is…

Abstract

The ongoing anthropological transformation urges the rethinking of education, underlining the inadequacy of our schools and universities in dealing with hypercomplexity, that is, with the global extension of all political, social, and cultural processes and with their indeterminacy, interdependence, and interconnection. The idea that educational processes are questions of a purely technical/technological nature, solely a problem of skills and know-how, is the “great mistake” of the hypertechnological society, based on the illusion of being able to measure and quantify everything, to eliminate error and unpredictability, and to achieve total control and rationality. It is necessary to rethink education radically because the extraordinary scientific discoveries and the dynamics of the new technologies have completely overturned the complex interaction between biological and cultural evolution, doing away with the borders between the natural and the artificial. Emergence and emergency themselves are structural features of complex systems (living, social, and human systems), rendered hypercomplex through today’s acceleration and virality, regarding not only education and socialization but also the representations and perceptions of all systemic processes. The merging of fields of knowledge and an epistemology of error become essential for the analysis and interpretation of this hypercomplexity and the unpredictability that distinguishes it.

Details

Higher Education in Emergencies: Best Practices and Benchmarking
Type: Book
ISBN: 978-1-80117-379-7

Keywords

Book part
Publication date: 27 June 2023

Raunak Pahwa, Sapna Arora and Samandeep Kaur

Purpose: Consumer acceptance is considered the most important factor in functional food success and is given top priority in new product development. This study focussed on…

Abstract

Purpose: Consumer acceptance is considered the most important factor in functional food success and is given top priority in new product development. This study focussed on finding factors that influence consumer perceptions about active food and the pattern of active food consumption. This chapter aims to provide a deeper understanding of taste trading based on a consumer decision-making framework.

Research Methodology: Cross-sectional consumer data were collected by floating G-Doc containing the questionnaire which was supposed to be answered by people according to their behaviours, preferences, knowledge regarding functional foods etc. It contained questions about their income, gender, preference towards functional foods, factors affecting decision-making while purchasing functional foods etc.

Results of the Study: The findings suggest that the consumers' attitude towards functional foods was mainly influenced by the quality and suitability of the product. Purchase intent was found based on age, literacy of population, income and health benefits of active foods. Awareness of functional foods and their price significantly affected the purchase of functional foods. Most people were willing to spend more on functional foods in the future regardless of the taste and provided high quality and product suitability.

Details

Technology, Management and Business
Type: Book
ISBN: 978-1-80455-519-4

Keywords

Open Access
Article
Publication date: 2 November 2023

Izabela Pruchnicka-Grabias, Iwona Piekunko-Mantiuk and Scott W. Hegerty

The Polish economy has undergone major challenges and changes over the past few decades. The country's trade flows, in particular, have become more firmly tied to the country’s…

Abstract

Purpose

The Polish economy has undergone major challenges and changes over the past few decades. The country's trade flows, in particular, have become more firmly tied to the country’s Western neighbors as they have grown in volume. This study examines Poland's trade balances in ten Standard International Trade Classification (SITC) sectors versus the United States of America, first testing for and isolating structural breaks in each time series. These breaks are then included in a set of the cointegration models to examine their macroeconomic determinants.

Design/methodology/approach

Linear and nonlinear and nonlinear autoregressive distributed lag models, both with and without dummies corresponding to structural breaks, are estimated.

Findings

One key finding is that incorporating these breaks reduces the significance of the real exchange rate in the model, supporting the hypothesis that this variable already incorporates important information. It also results in weaker evidence for cointegration of all variables in certain sectors.

Research limitations/implications

This study looks only at one pair of countries, without any third-country effects.

Originality/value

An important country pair's trade relations is examined; in addition, the real exchange rate is shown to incorporate economic information that results in structural changes in the economy. The paper extends the existing literature by conducting an analysis of Poland's trade balances with the USA, which have not been studied in such a context so far. A strong point is a broad methodology that lets compare the results the authors obtained with different kinds of models, both linear and nonlinear ones, with and without structural breaks.

Details

Central European Management Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2658-0845

Keywords

Book part
Publication date: 9 November 2023

Artur Paździor, Wiesława Caputa and Izabela Krawczyk-Sokołowska

The Covid-19 pandemic and the war in Ukraine are a real example of how uncertainty can trigger radical changes in the socio-economic system on a macro and micro scale. The…

Abstract

Research background

The Covid-19 pandemic and the war in Ukraine are a real example of how uncertainty can trigger radical changes in the socio-economic system on a macro and micro scale. The indicated events contributed to the increase in the level of uncertainty, and its effects appeared in the real conditions of the functioning of international communities.

Purpose of the Chapter

The purpose of the chapter is to determine the impact of the Covid-19 pandemic and the war in Ukraine on the situation of Polish consumers and the resulting behaviour in the context of business–consumer relations.

Methodology

This goal was achieved through literature studies, analysis of changes in selected indicators of the economic situation and analysis of basic variables determining the relationships between consumers and suppliers.

Findings

The presented research results allow us to conclude that both the pandemic and war had an impact not only on the economic indicators but also the financial standing of households. We are seeing an increase in the differences between the nominal and real value of these incomes. Inflation is on the rise, forcing households to change their spending structure and look for savings. Of course, there have been and will be companies that do not have to be significantly affected by the effects of these events. In this group, companies related to the provision of IT infrastructure and specialising in establishing multidimensional relationships in the digital space should be pointed out.

Details

Modeling Economic Growth in Contemporary Poland
Type: Book
ISBN: 978-1-83753-655-9

Keywords

Article
Publication date: 29 November 2022

Mina Safizadeh, Mohammad Javad Maghsoodi Tilaki, Massoomeh Hedayati Marzbali and Aldrin Abdullah

The emerging concept of smart city is known to aim at sustainable urban development. One of the requirements for a smart city is to address accessibility inequalities. This study…

Abstract

Purpose

The emerging concept of smart city is known to aim at sustainable urban development. One of the requirements for a smart city is to address accessibility inequalities. This study aims to investigate the accessibility level issues in urban transformation before and after combining different street networks for Penang, Malaysia, as a case study to reveal greater insight and helpful information into mobility and accessibility inequalities for future smart city planning.

Design/methodology/approach

Using DepthmapX software, two main quantitative methodologies of space syntax, namely, spatial integration accessibility (SIA) and angular segment analysis by metric distance (ASDMA), are employed to analyse the level of accessibility for the main streets of George Town site before and after combination with contemporary networks. Integration, choice and entropy values were calculated for the study analysis.

Findings

Results revealed the implications of combining old irregular gridiron structures with the existing planned grid structures. George Town seems to have gained a higher capacity for pedestrian accessibility; however, vehicle accessibility has lost its capacity. Findings further suggest that a combination of irregular structure and grid structure is essential for urban growth in similar historical contexts to improve accessibility and address mobility inequalities.

Originality/value

The study concludes by highlighting the importance of the analysis of street structure transformation to predict consequences and promote the potential to reduce current inequalities in vehicle accessibility.

Details

Open House International, vol. 48 no. 3
Type: Research Article
ISSN: 0168-2601

Keywords

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