Publisher: Alexandru Ioan Cuza University Press (Total: 3 journals)   [Sort by number of followers]

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Annals of the Alexandru Ioan Cuza University - Mathematics     Open Access   (Followers: 1, SJR: 0.225, CiteScore: 0)
Linguaculture     Open Access  
Scientific Annals of Economics and Business     Open Access   (SJR: 0.138, CiteScore: 0)
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Scientific Annals of Economics and Business
Journal Prestige (SJR): 0.138
Number of Followers: 0  

  This is an Open Access Journal Open Access journal
ISSN (Print) 2501-1960 - ISSN (Online) 2501-3165
Published by Alexandru Ioan Cuza University Press Homepage  [3 journals]
  • Determinants of Advancement in Information Communication Technologies and
           its Prospect under the role of Aggregate and Disaggregate Globalization

    • Authors: Marc Audi, Amjad Ali, Razan Al-Masri
      Abstract: Globalization has been witnessed to bring numerous benefits to the advancement in information communication technologies. However, to analyze this relationship mostly aggregate globalization and country-specific studies have been conducted, without considering the importance of disaggregate globalization for advancement in information communication technologies. Therefore, this article aims to examine the impact of aggregate and disaggregate globalization on the advancement of information and communication technologies (ICT) in the case of 87 developed and developing countries for 2000-2019. Panel least square and pairwise Dumitrescu-Hurlin panel causality tests have been used for empirical analysis. We have divided our empirical analysis into six models, i.e. aggregate globalization model for whole sample countries, disaggregate globalization model for whole sample countries, aggregate globalization model for developed countries, disaggregate globalization model for developed countries, aggregate globalization model for developing countries, and disaggregate globalization model for developing countries. Our estimated outcomes of the aggregate globalization model for the whole sample countries and developing countries show that globalization has a positive and significant impact on the advancement of information and communication technology. Our outcomes show that economic globalization, social globalization, political globalization, and availability of physical capital have a positive and significant impact on the advancement of ICT in developing countries. In the case of developed countries, aggregate globalization, political globalization, and social globalization reduce the advancement of ICT, whereas the availability of physical capital and economic globalization are raising the advancement of ICT. The results of the causality test show that all the variables have a causal relationship with each other except some variables of developed countries in the disaggregate globalization model. Our outcomes recommend that developing countries should promote aggregate and disaggregate globalization to achieve the desired level of ICT.
      PubDate: 2022-05-10
      DOI: 10.47743/saeb-2022-0009
       
  • Asymmetric Information and Agency Cost of Financial Leverage and Corporate
           Investments: Evidence from Emerging South-East European Countries

    • Authors: Aleksandar Naumoski, Sasho Arsov, Violeta Cvetkoska
      Abstract: In this paper, we investigated the impact of financial leverage on investment decisions on a sample of 811 firms from ten emerging South-Eastern European countries (Bosnia and Herzegovina, Bulgaria, Montenegro, Croatia, Greece, Romania, North Macedonia, Slovenia, Serbia and Turkey). We apply a panel regression model involving investment ratio as a dependent variable, leverage as independent variable, and control for several firm characteristics that closely determines the corporate investments. The results of the analysis show that leverage is negatively related to investment in the companies in SEE. But only long term debt has a stronger negative impact on investment for firms with low growth opportunities than for firms with high growth opportunities. These findings show supportive evidence of agency theories of corporate leverage, especially with the debt overhang theory, but did not give strong validation that leverage has a disciplining role for firms with low growth opportunities in SEE emerging markets. In addition to leverage, we found that corporate investments in the SEE countries decrease significantly with tangibility and the company size. Corporate investments in the SEE countries increase significantly with cash flow, sales, non-debt tax shield and profitability. Overall, the results slightly defer with those from the research on the case of developed markets.
      PubDate: 2022-05-10
      DOI: 10.47743/saeb-2022-0010
       
 
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