Authors:Natig Gadim‒Oglu Hajiyev, Sugra Ingilab Humbatova, Solmaz Aghazaki Abidi Pages: 151 - 164 Abstract: This article the influence of GDP on travel vouchers in a long- and short-term perspective, travel vouchers sold to Azerbaijani citizens for long-term internal journeys, the price of travel vouchers sold to Azerbaijani citizens, the number of beds per person in a day, the number of beds per all citizens in a day, and the number of residential areas per citizens. In addition, it analyzes the impact of GNI on those same items. Unlike other research about the influence of tourism development on GDP, this article examines the reverse impact - the impact of GDP on tourism development. In Azerbaijan, the primary source of GDP growth is the export of energy resources. Tourism is not major contributor to economic development. The problem, therefore, is to find alternative ways to develop tourism based on the economic growth that comes from the export of energy resources. To explain this further, tourism development should rely on supply rather than the demand generated by GDP and GNI growth. As a result, GDP positively affects tourism development while GNI has a negative impact. We recommend considering the development of a stable supply for tourism that is not dependent on the revenues derived by energy exports. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.689 Issue No:Vol. 9, No. 2 (2022)
Authors:Hanna Shvindina, Leonid Taraniuk, Stanislav Kotenko, Abayomi Awujola, Karina Taraniuk, Qiu Hongzhou Pages: 165 - 182 Abstract: The global competitiveness report reveals cross-regional and cross-country disparities, and the innovation development of industrials shows how difficult it is to build and support competitiveness at a high level and increase innovation potential. The bibliometric analysis proves the diversity of the studies in the field and the increasing trend in paper production. The lack of understanding of the link between different levels of competitiveness and the need to monitor and forecast innovative development necessitated the cross-country benchmarking of industrials' innovation potential. The offered methodology is a seven-stage algorithm of innovation potential assessment, based on an existing GCI methodology modified to reveal innovation development differences, and tendencies for particular industries. The ranking was performed for major industrial countries to reveal the gaps in innovative activities and develop catch-up strategies. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.711 Issue No:Vol. 9, No. 2 (2022)
Authors:Anatoliy A. Popov, Tamara A. Karataeva, Elena V. Danilova, Anatoliy N. Myreev, Valentina V. Sergeeva Pages: 183 - 193 Abstract: This article empirically substantiates an approach to the diversification of the regional economy of the Republic of Sakha (Yakutia). The authors used data samples for all Russian regions to determine cause-and-effect relationships between the development indicators of the mining, manufacturing, and construction industries. The authors applied regression analysis and the VAR-model to assess the impact of the diversification of the regional economy on the gross regional product regarding the manufacturing, mining, and construction sectors. The obtained results proved the feasibility of diversifying the regional economy for its stable economic development, especially in the long term. This paper presents a universal approach to assessing the region's long-term economic development through the diversification of its economy. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.915 Issue No:Vol. 9, No. 2 (2022)
Authors:Akif Valiyev, Famil Vali oglu Rustamov, Ruhiyya Adilqizi Huseynova, Mehpara Sattarqizi Orujova, Sevil Nizami Musayeva Pages: 194 - 205 Abstract: The purpose of this paper is to systematize and justify the factors for the effective implementation of digitalization to ensure the innovative development of agriculture in Azerbaijan. Based on the survey completed by 1,513 senior managers of agricultural enterprises in Azerbaijan, the key factors and barriers to digitalization of agriculture were substantiated: the cost of introducing and using digital technologies, unregulated legislative processes of digitalization of the industry, and the level of cybersecurity. The levels of development of digitalization of the country's agricultural sector have been determined and empirically substantiated the qualitative nature of the influence of digitalization factors on the innovative development of agricultural enterprises using the regression modeling method. The results obtained can help develop a state strategy for enhancing the digitalization of the country's agricultural sector to ensure its innovative development, food security, and diversifying the economy. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.902 Issue No:Vol. 9, No. 2 (2022)
Authors:Rizky Yudaruddin Pages: 206 - 216 Abstract: In this study, the interrelation between bank concentration and stability is examined, focusing on the joint impact of capital regulation and financial openness. Using the data from the Global Financial Development Database provided by the World Bank and the Index of Financial Freedom from The Heritage Foundation and The Wall Street Journal, a sample of five countries in Central Asia was obtained, specifically during 1993-2017. The results show that the relationship between bank concentration and stability supports the concentration-stability hypothesis. Moreover, higher concentration and well-capitalized banks increase financial stability. However, the effect of bank concentration and financial freedom on stability is negative and significant. Capital regulation and supervision from authority control in the financial sector need to be strengthened to solve financial instability. PubDate: 2022-03-06 DOI: 10.15549/jeecar.v9i2.733 Issue No:Vol. 9, No. 2 (2022)
Authors:Baghish Ahmadov Pages: 217 - 228 Abstract: The marginal effective tax rates (METR) are determined in Azerbaijan, Kazakhstan, Georgia, and Belarus. The METR have high sensitivity from the tax depreciation rate, profit tax and interest rates for all countries. Sensitivity of the METR from inflation is high in Georgia and Belarus but is less in Azerbaijan and Kazakhstan. The calculations show that the current tax burden in Belarus is higher than in other countries (excluding debt financing). The current tax depreciation rate does not provide additional incentives for investment activity in these countries. The calculations are approximate, but they show that the tax depreciation rate depends on the inflation rate to create additional incentives for marginal investment. Georgia has the highest opportunities to increase investment activities by decreasing the real interest rate. Kazakhstan has greater tax advantages in manufacturing than Azerbaijan. PubDate: 2022-03-07 DOI: 10.15549/jeecar.v9i2.761 Issue No:Vol. 9, No. 2 (2022)
Authors:Dr Nguyen Van Thuy, BA Nguyen Thi Ngoc Anh, MA Ngo Thi Xuan Binh Pages: 229 - 239 Abstract: The research’s goal was to examine the effect of brand equity on consumer purchasing decisions at Thegioididong store. This study was based on research on the decision-making process and brand equity. There were five factors such as brand awareness (BAW), Brand equity (BL), Brand association (BAS), percieved quality (PQ), and adverstising (AD). This study was used qualitative method and quantitative method in which a discussion group was conducted by 10 consumers and a survey with 40 consumers to test questionnaires. The primary survey was collected from 261 consumers who bought products at Thegioididong stores in Ho Chi Minh City, Vietnam by using a survey questionnaire. The results showed that brand loyalty, brand association and advertising were impacted on consumer purchase decision in which most influential factor was brand loyalty and the least impact factor was brand association. Brand awareness and perceived quality were not impacted on consumer purchase decisions. The findings of this study suggested that Thegioididong should improve image and focus on loyalty consumers to attract new consumers because loyalty consumers were ready to recommend Thegioididong. PubDate: 2022-03-12 DOI: 10.15549/jeecar.v9i2.762 Issue No:Vol. 9, No. 2 (2022)
Authors:Diep Thi N. Nguyen, Sinh Duc Hoang, Miloslava Chovancová, Khang Hoang Tran Pages: 240 - 259 Abstract: One of the most significant achievements of Information Communication Technology (ICT) in commerce is e-shopping, which changes shopping behavior in the retail sector. This research examines how Generation Z’s perceptions of e-shopping benefits and drawbacks and A qualitative method through in-depth interviews and a quantitative method via a questionnaire survey is employed to assess the Generation Z-ers’ attitudes, perceptions, and psychology toward the benefits and drawbacks of e-shopping and their intention of choosing this channel for repurchasing. PLS-SEM will be associated to discover the relationships between Generation Z-ers’ psychological ownership, perceptions of e-shopping benefits and drawbacks, and their online repurchase intention. Findings suggest that Generation Z-ers’ online repurchase intention is due to perceived benefits, psychological ownership, and is regardless of perceived drawbacks. Furthermore, as a moderator of the effect of perceived drawbacks on repurchase intention, psychological ownership may lessen the Generation Z-ers’ concerns of e-shopping drawbacks and enhance their online repurchase intention. PubDate: 2022-03-08 DOI: 10.15549/jeecar.v9i2.792 Issue No:Vol. 9, No. 2 (2022)
Authors:Jitka Hilliard, Thanh Dat Le Pages: 260 - 270 Abstract: We examine ETFs investing in the equity of emerging European countries. Our sample contains 364 ETFs in developed Europe and 11 emerging European ETFs from 2005 to 2019. Compared to developed Europe’s ETFs, the emerging European equity ETFs are significantly smaller and younger with significantly higher fees. The low correlation of their returns with developed countries and lack of flow sensitivity to the US market volatility suggests that they may be underutilized means of international diversification by investors from developed countries. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.804 Issue No:Vol. 9, No. 2 (2022)
Authors:Virgo Simamora, Siti Rachma Pages: 272 - 283 Abstract: Individual compliance with health protocols is a crucial factor in supporting Indonesian government in controlling the transmission of COVID-19, especially the millennial generation. This explanatory research aims to examine the effect of social marketing on compliance among millennials in Jakarta. Four indicators are applied to measure social marketing, and other two are applied to measure compliance. Using the questionnaire, the researcher collected data from 439 millennials. The hypothesis was tested using the partial least squares structural equation modeling (PLS-SEM). This study found that social marketing positively impacts compliance with health protocols. These findings have provided some empirical implications about how crucial social marketing increases millennials’ compliance with health protocols promoted to prevent and control COVID-19 transmission. The concept of the marketing mix, informing people about the benefits of health is critical since the social positive values offered by social marketers are a major incentive for people to follow health protocols. PubDate: 2022-03-09 DOI: 10.15549/jeecar.v9i2.809 Issue No:Vol. 9, No. 2 (2022)
Authors:Aiman Kazybayeva, Madina Smykova , Thomas M. Krueger, Madina Duchshanova, Nataliya Sokhatskaya Pages: 284 - 295 Abstract: The COVID-19 pandemic has highlighted the need to understand the key components of a relevant, successful online pedagogy. Using these insights, instructors in the virtual classroom can facilitate and accentuate the knowledge gained by responding to student emotional needs and perceptions. This research evaluates students' attitudes regarding multiple facets of online instruction. In addition to revealing student opinions regarding online course characteristics, using the framework of Schmitt’s Sensory Impact Model, this report shares suggestions for improvement obtained by surveying 160 marketing and management students at a leading Central Asian university. It is the opinion of 58 percent of the students that active participation in discussions improve their academic performance. Our study further shows that astute revision of the online environment can impact student attitudes regarding online learning. Our investigation reveals that improving student motivation is a crucial step to optimizing the value added of the online knowledge transmission process. Insights to student perception regarding the importance of pedagogic factors will improve the online course as well as student perceptions of the online experience. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.817 Issue No:Vol. 9, No. 2 (2022)
Authors:Puncharat Borirakcharoenkit, Sasiwemon Sukhabot, Idsaratt Rinthaisong, Nimit Soonsan Pages: 295 - 308 Abstract: The more equity a brand has, the stronger its behavioral loyalty, according to branding theory. This research adopted the technology acceptance model framework to explain the impact of brand equity on investors' loyalty in online securities trading. Our data was collected via a multi-method approach, and using a structured survey, the impact of brand equity on behavioral loyalty was tested. The findings indicate that brand equity impacts behavioral loyalty but does not influence mediators. This research also suggests that perceived ease of use and usefulness play an important role in mediating variables. Our findings impact retailers and brand owners in a variety of ways. PubDate: 2022-03-13 DOI: 10.15549/jeecar.v9i2.829 Issue No:Vol. 9, No. 2 (2022)
Authors:Arbana Sahiti, Sevdie Alshiqi, Inna Neskorodieva, Arben Sahiti, Xhelil Bekteshi Pages: 309 - 318 Abstract: The study aims to substantiate effective strategies to manage credit risks in commercial banks, for example, Kosovo. Based on the annual financial statements of commercial banks in Kosovo for 2010-2020. We built polynomial regression models to assess the impact of credit risk on the bank's financial stability. Empirically, determined and argued the different nature of the credit risks influencing the bank's financial stability according to various on the assets size of commercial banks. Preventive and reactive scenarios for minimizing the negative impact of credit risk on the financial stability of commercial banks in Kosovo have been determined using the constructed regression models. The results obtained are of practical importance and can help develop effective strategies for managing the financial risks in commercial banks in times of crisis and building up financial stability in stable conditions. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.847 Issue No:Vol. 9, No. 2 (2022)
Authors:Natálie Veselá, David Hampel, Kateryna Yahelska, Vitalii Krasko Pages: 319 - 332 Abstract: The article focuses on investments as a tool for solving economic development problems of the national economy. Based on the analysis of macroeconomic systems' development factors, it is concluded that it is necessary to accelerate economic development to ensure national competitiveness within the current global economy. The necessity of forming the organizational mechanism for the country's economic growth at a transitional stage of development is substantiated. The analysis of foreign investments in Ukraine is carried out. The paper defines the key points, tools, and measures for forming the corresponding mechanism on the example of Ukraine as an economic system in the transitional stage of development. The organizational scheme for economic growth by executive authorities is proposed. One of the critical roles in this mechanism is assigned to the Investment Department and Independent National Science Council; tasks and functions of these units in the structure of the agency are described. PubDate: 2022-03-11 DOI: 10.15549/jeecar.v9i2.691 Issue No:Vol. 9, No. 2 (2022)
Authors:Vinh Hoang Le, Thu Anh Thi Vu, Minh Hoang Nguyen Pages: 333 - 343 Abstract: The purpose of this paper is to examine the effect of tax planning on company value of listed companies in Vietnam, using the secondary data from audited financial reporting and other statistical documents of 513 non-financial companies in the period of 2015 – 2019. According to GLS, the research result shows that the tax planning has a positive effect on company value. In addition, state ownership, capital intensive and company size are control variables having a positive impact on firm value, but financial leverage is not. The findings suggest that financial managers should apply SAVANT framework and concentrate on fixed assets allocation and tax benefit of company size instead of leverage or high state ownership. PubDate: 2022-03-28 DOI: 10.15549/jeecar.v9i2.700 Issue No:Vol. 9, No. 2 (2022)
Authors:Andrii Zolkover, Iaroslav Petrunenko, Olesia Iastremska, Oksana Stashkevych, Mehriban Mehdiqizi Mehdizade Pages: 344 - 356 Abstract: The purpose of this research was to conceptually substantiate an effective business digitalization strategy in Eastern Europe (EE), taking into account the identification of destructive and complementary factors of digital transformation (DT). The survey, completed by top managers of companies from different sectors of the EE countries' economy, helped form a system of indicators for assessing the level of DT by country. The systematization of the DT factors made it possible to differentiate them by the nature of influence, advantages, and threats of the DH (digital humanities) for the EE countries. The results indicated a low and medium level of DT in the countries studied because of the lack of a digitalization strategy. A matrix of business digitalization management strategies has been formed for Eastern European countries, considering the efficiency level, digitalization threats, and the priority in their management. It will help mitigate the threats of DT and reduce the digital divide with countries with a high level of DT. PubDate: 2022-03-11 DOI: 10.15549/jeecar.v9i2.910 Issue No:Vol. 9, No. 2 (2022)
Authors:Nikolay Megits, Shafa T. Aliyev, Svitlana Pustovhar, Taliat Bielialov, Olha Prokopenko Pages: 357 - 368 Abstract: This article aims to assess the potential of using the components of the five-helix model in countries with different levels of business development in Industry 4.0 for the US, Azerbaijan, Ukraine, and Poland. We determined the stimulators and not stimulators of the company development interacting with the participants of the innovation system: "business," "society," "state," "science," and "environment." We empirically evaluated the company’s ability to use the potential of the five-helix model during the transition to Industry 4. These estimates, along with the development indicators of the five-fold spiral elements, were used to build a decision tree for choosing a practical scenario for business development and information transformation. It helped determine options for ensuring business efficiency, depending on the development of the five helix components and the company's ability to use their development potential. PubDate: 2022-03-11 DOI: 10.15549/jeecar.v9i2.920 Issue No:Vol. 9, No. 2 (2022)
Authors:Javaid Ahmad Bhat, Imtiyaz ul Haq, Sajad Ahmad Bhat, Nikolay Megits Pages: 369 - 384 Abstract: This study aims to understand the dynamics of aggregate and sectorial employment elasticity of output growth in the Kazakhstan economy from 1996 to 2019. To serve our purpose, a rolling regression method with a window of 6 years has been used to estimate aggregate and sectoral employment elasticity, and an ARDL bounds testing approach has been incorporated to assess the impact of various macroeconomics determinants. The results indicate the existence of a cointegration relationship, and the employment elasticity of output growth in Kazakhstan's economy has declined at aggregate and sectoral levels, thus indicating jobless growth. More specifically, the results reveal that inflation, trade openness and the exchange rate are negatively associated with employment elasticity. In contrast, a positive association is established between service sector employment share, the population growth rate and employment elasticity of output growth. The study recommends strengthening macroeconomic fundamentals such as inflation and exchange rate stabilization coupled with robust development of human capital. PubDate: 2022-03-12 DOI: 10.15549/jeecar.v9i2.852 Issue No:Vol. 9, No. 2 (2022)
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