Search results for "Market economy"
showing 10 items of 138 documents
Should all the world be taxed?
1997
Governments are beginning to fear that the establishment of the “information society” will cause their revenue from taxation to shrink: economic activities in the virtual world of the Internet could escape the application of value added tax. Are these fears justified? Would a “bit tax” solve the problem?
Corruption and Organised Crime Signalling Indicators for Foreign Investors as Applied to Eastern European Countries
2021
The former communist countries in Central and Eastern Europe and, implicitly, their economies, went through specific and sometimes asymmetric developments since the fall of the “iron curtain” at the end of the 1980s. During those years, they faced many challenges to create a secure and predictable economic environment for individuals and businesses, local or foreign. We propose a framework that considers legal, social, and economic indicators which can be used by foreign investors to make wise and efficient business decisions. Our main purpose is to expand the traditional economic analysis framework and enrich it with new institutional and societal indicators from the social, quality of lif…
Are business cycles asymmetric? Some European evidence
1997
Economic thought has ofien regal'ded business cycles as asymmetric. This papel' examines the existence of asymmetries over the business cycle in three European countries: France, Germany and the United Kingdom. To analyze this issue, industrial production in these countries from 1957 to 1994 is examined, and quarterly contractions and expansions in this variable are compared. The results obtained with both parametric and nonparametric methods allow the existence of asymmetries in these countries to be questioned. El pensamiento económico ha considerado frecuentemente que los ciclos económicos son de naturaleza asimétrica. Este trabajo examina la existencia de asimetrías en los ciclos económ…
New paradigm of ICT productivity – Increasing role of un-captured GDP and growing anger of consumers
2015
Abstract The dramatic advancement of the Internet has led all nations to an information communication technology (ICT) driven development trajectory. This trajectory has resulted in bi-polarization between ICT growing economies and ICT advanced economies. While the former enjoys a virtuous cycle between ICT advancement and productivity increase, the later has fallen into a trap of a vicious cycle between ICT advancement and productivity decrease. This paper identifies that this trap can be attributed to the two-faced nature of ICT in which advancement of ICT contributes to price increases due to functionality development while dramatic advancement of the Internet has resulted in price decre…
Contemporary Role of SMEs in Employment in Manufacturing and Service Industries
2017
Abstract. Analysis made in the article allows to conclude that the SME sector of high-tech manufacturing industries plays growing role in solving the problems of employment in developed countries. However, the major problem is that it is capable for only partial compensation of the loss of jobs in labour intensive sectors of the economy. Accumulation of knowledge of the population in industrialized countries together with high levels of computer literacy contributes to the revitalization of business services sellers that are mainly small sized businesses. In the era of fast growing technology industries, in particular related to IT sector, the role of SMEs in economy is increasing as they a…
Successful turnarounds in bankrupt firms? Assessing retrenchment in the most severe form of crisis
2019
During economic downturns, firms file for bankruptcy in an effort to attempt a “turnaround.” The objective of this study is to assess the effectiveness of retrenchment strategies in the context of bankruptcy, as the most severe form of crisis. We conducted a longitudinal analysis of a sample of 868 bankrupt Spanish firms during the period 2004–2017. The empirical results show that stakeholder support and deep cost retrenchment increase the likelihood of survival and performance recovery, while aggressive layoffs are detrimental for turning bankrupt firms around. Surprisingly, intense asset retrenchment had no significant effects on firm survival and also pushed performance downward. The fi…
The Prospects for the Social Economy in a Changing World
1997
Even if the ‘social economy’ has traditionally been marginalized and a subordinated form of production within capitalist societies, the economic, social, territorial and environmental problems of the present times have tended to make it a strategic instrument. This is not only because of its qualities as an economic and management instrument, but also because it is an expression of a dynamic and creative civil society. The aim of this paper is to show the potential of the social economy, the way it has been encapsulated during the postwar period and the conditions that now favour its full development. In the face of new challenges, the efficiency criterion, hitherto used to assess alternati…
Founding family leadership and industry profitability
2008
Published version of an article from the journal: Small Business Economics In this article, we argue that firms in high-margin industries can benefit from founding family influence. Specifically, in more profitable markets, the influence of the founding family provides an additional corporate governance-monitoring function. The sample consists of 294 firm-year observations from 98 publicly traded companies headquartered in Sweden, representing approximately half of all non-financial traded firms. Our support that the effect of family leadership in publicly held firms should be assessed in relation to the intensity of industry competition
Knowledge-Intensive Entrepreneurship in the Economy of the European Union
2014
The article studies role of knowledge in business and analyzes tendencies of the formation of knowledge-intensive entrepreneurship (business) in the EU. It is shown that for small and medium-sized enterprises prospects of expansion of knowledge production and sales of products and services are associated with the internationalization of business. The author proposes the matrix of decision-making entrepreneurs, depending on the completeness and quality of information at their disposal on the market.
Special Issue on: Small business and entrepreneurship: their role in economic and social development
2015
Since the 1980s, small business owners and entrepreneurs have been receiving greater recognition as drivers of economic growth. Recently, several studies (Forsman 2011; McKeever, Anderson, and Jack...