Číslo 2
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- ItemRestructuring parcel delivery network by considering dynamic customer demand(Technická Univerzita v Liberci, 2018-06-28) Jin, Hyun-Woong; Ekonomická fakultaParcel delivery service is one of the fastest growing industries in the world as the e-commerce such as online shopping mall expands rapidly. To increase its market share, most of parcel delivery service companies construct their delivery network as a form of hub-spoke network which is known to be efficient to deliver large scale products through widely spread area. In hub-spoke network, the number of hubs and their locations are important decision issues. Even though there are many researches on the hub-spoke network design, there is a lack of researches which deal with the fluctuating customer demand. Moreover, all the previous researches considering the fluctuating customer demand assumed that the capacity of hub facility is unlimited. Therefore, this research aims to propose the restructuring procedure of the parcel delivery network by considering the fluctuating customer demand with the capacitated hub facilities. In this research, utilization of temporary hubs is proposed so as to satisfy the fluctuating customer demand. Temporary hub responds to the excessive demands assigned to the permanent hubs and it is closed during the recession period to reduce its operating cost. A nonlinear integer programming model is constructed to decide the number of temporary hubs and their location at each time period. Since the complexity of the constructed mathematical model is NP-hard, GRASP based heuristic solution procedure is proposed. To evaluate the appropriateness of the proposed algorithm, experimental test with various demand sets considering four design factors are performed and the performance of the proposed algorithm is compared with the existing meta-heuristic algorithm. Test results show that the algorithm proposed in this research is more robust than the existing algorithm against the fluctuation of customer demand as well as it provides overall better results.
- ItemReciprocation at work: the role of work to family enrichment and family role salience(Technická Univerzita v Liberci, 2018-06-28) Kumar, Aneel; Channa, Khalil Ahmed; Bhutto, Niaz Ahmed; Ekonomická fakultaThis study investigated the main and conditional indirect effects of emotional and instrumental family related social supports from coworkers on person and task focused interpersonal citizenship behavior (ICBs). We incorporated work to family enrichment as mediator and family role salience as moderator in conditional indirect effect paths. Primary data were collected through the survey questionnaire in dyads from the employees and their immediate supervisors (N = 401). The results showed that the main and conditional indirect effects of emotional and instrumental family related social supports from coworkers were positive and significant on both ICBs (person and task focused). Work to family enrichment was found as mediator and family role salience as moderator in conditional indirect effect paths. This study establishes work family enrichment as a bridge in the social exchange process. The resources of emotional and instrumental family related support form coworkers’ engendered work to family enrichment, which in turn created the sense of obligation in the employees to reciprocate by performing person and task focused interpersonal citizenship behavior in the workplace. Further the employees high on family role salience experienced work to family enrichment more, due to support resources, and in turn reciprocated more interpersonal citizenship behaviors. Overall, this study examined a moderated mediation model, by testing work to family enrichment as mediator and family role salience as the boundary condition.
- ItemDefault rate in the Czech Republic depending on selected macroeconomic indicators(Technická Univerzita v Liberci, 2018-06-28) Stoklasová, Radmila; Ekonomická fakultaThe aim of this article is to analyse which macroeconomic indicators affect the default rate in the Czech Republic in the long run and to create a model that would allow to describe the expected share of the default rate depending on the development of selected macroeconomic indicators on the basis of this analysis. The vector error correction model was used for this purpose to determine both long-term and short-term causal relationships. To create the resulting model, the econometric methodology was used, namely unit root tests, Granger causality for the determination of statistically significant relationships, information criteria and the Johansen cointegration test. The results show the validity of expected assumptions in the case of short-term relationships. There was a positive correlation between the unemployment rate and the default rate delayed by one quarter. A negative short-term relationship to the default rate was found in the case of real GDP and in the case of the Czech crown effective exchange rate index with a one-quarter delay. In the case of long-term relationships, surprising results were found regarding GDP and oil price development. As expected, it was found in the long run that the default rate is positively related to the unemployment and effective exchange rate of the Czech crown. The default rate indicator is one of the inputs of the stress testing model developed by the Czech National Bank. The model is based on the time series of the share of outstanding loans and the total amount of loans, and on selected macroeconomic indicators. Achieved empirical results are influenced by the fact that the Czech economy has undergone the period of currency crisis. The data used have the character of quarterly time series in the period from 2005Q1 to 2017Q1. EViews software version 9 was used for the calculations.
- ItemQuality evaluation of internet websites which represents the lithuanian basketball through consumers approach(Technická Univerzita v Liberci, 2018-06-28) Ūsas, Antanas; Jasinskas, Edmundas; Štreimikienė, Dalia; Švagždienė, Biruta; Simanavičius, Artūras; Ekonomická fakultaThe information technology area is one of the fastest expanding and most customizable in daily activities. In 2015, 68% Lithuanian households had personal computers and internet access at home. The modern business is moving to virtual space. The exchange of business area develops a need to managerial decisions in a virtual space. All of the e-business areas have one main element – website. In Lithuanian basketball websites carried out aid communication, information dissemination, representation, sales features. Web site can serve as a key platform to help organizations deal with clients (Gonzalez et al., 2015). The Organization Web site becomes the face of organization and represent in cyberspace. Because of large number of websites and the competition, aspect of quality becomes increasingly important. Main questions are: in what consumers pay attention? How they understand the benefits of the website? What kind of emotional state caused by the Web site? Analyzing techniques of websites evaluation three different groups were separated – quality, usability and satisfaction. The best technique – quality, which is the most universal and informative defining with other techniques. The quality of internet websites which represented the Lithuanian basketball satisfies the needs of consumers. The emotion which was experienced during the research was statistically insignificant influence but emotions experienced the last surfing minutes have statistically significant influence. Users, who had experienced positive emotions in the end of surfing, tend to evaluate better the internet website. It is important for organizations to manage their internet website that visitors leave it with positive emotions.
- ItemInnovative activity and business cycle: Austria in the 19th and 20th century(Technická Univerzita v Liberci, 2018-06-28) Minárik, Pavol; Vokoun, Marek; Stellner, František; Ekonomická fakultaThis paper focuses on the analysis of the relationship between business cycles and innovative activity in a small open economy. Small economies benefit from imports of foreign technologies through international trade and foreign investments and are subjects to significant exogenous shocks that impact their business cycle. The economic analysis is based on the demand and supply theories of innovation and economic fluctuations. Hypotheses about long term and short term (Granger) effects are tested on Austrian historical data (1852-1979) about the economic output (gross domestic product and industry production) and innovation output (granted patents). The econometric analysis utilizes vector error correction procedure to estimate time-series models of the economy. The results are interpreted in Austrian historical context. The economic-historical analysis suggests that there is no long-term relationship between business cycles and innovative activity between 1852 and 1937. The long-term relationship manifested only between 1948 and 1979. This relationship is very complex and influenced by the historical context, and it is not easy to grasp by the econometric analysis. In the short run, there is no compelling evidence trough-out the analyzed time period (1852-1979). However, we cannot fully reject the hypothesis suggesting a relationship between economic cycles and innovative activities. In the most recent period (1948-1979), we can observe a negative impact (Granger causality) of granted patents on the real GDP. Future research taking into account more countries using parametric as well as non-parametric approach could shed some light on the demand hypothesis in the pre-war and post-war development of small open economies. This paper showed that there is a long-term equilibrium between economic output and innovation activity. This result suggests that long term factors such as political stability are behind the complex relationship.
- ItemThe analysis of export trade between Ukraine and Visegrad countries(Technická Univerzita v Liberci, 2018-06-28) Nagyová, Ľudmila; Horáková, Monika; Moroz, Serhiy; Horská, Elena; Poláková, Zuzana; Ekonomická fakultaThe dynamic development of foreign trade is important for the stable economic position. It can be considered as a confirmation of the actual efficiency of the national economy and its ability to be competitive in the global economics. In this paper, we analyze main tendencies of export trade of Ukraine with Visegrad countries and examine whether there is a relationship between the level of GDP and the volume of export activities between these countries. It should be noted that various agreements were concluded between Ukraine and each country of the V4 group regarding economic and trade relations. The main aim of this paper is to evaluate development of export of goods between Ukraine and Visegrad countries between years 2002-2013. The data of State Statistics Service of Ukraine, Eurostat and United Nations Conference on Trade and Development (UNCTAD) were used. The development of export from Ukraine to V4 countries is investigated using the software GRETL and log-log linear model. It is discovered that Ukraine’s export operations are impacted by export to other trade partners and GDP per capita of the country. The strongest positive link to Ukraine export from V4 group is represented by Poland. It is identified that, when the GDP per capita of the concerned country goes up, the export to that country declines. It is also revealed that there is a substantial difference with respect to export of agricultural commodities from Ukraine to the above-mentioned countries. To a significant extent, Ukraine’s export is oriented towards plant products. Ukraine should elaborate a well-defined trade strategy and extend its current export activities with V4 countries. It should be more deeply integrated into the EU’s market for using more efficiently possibilities, which exist in the frame of the signed Ukraine-European Union Association Agreement.
- ItemFiscal decentralization determinants: analysis of the eu countries´ clustered sample in period 1995-2015(Technická Univerzita v Liberci, 2018-06-28) Maličká, Lenka; Martinková, Slavomíra; Ekonomická fakultaFiscal decentralization as a shift of decision-making powers from the central level of government to lower government levels is an object of wide research. In this field there is a discussion ranging from the eligibility of fiscal decentralization, its advantages and threats, to searching for the fiscal decentralization´s impact on certain macroeconomic indicators. Research focusing on investigating for fiscal decentralization determinants has not clear answer to this question. It considers various indicators often with their ambiguous impact on fiscal decentralization. In this paper, the problem of fiscal decentralization determinants is investigated on the EU countries sample in period 1995-2015. EU countries are divided into groups according to their fiscal decentralization average degree using the cluster analysis. Fiscal decentralization different measures refer on the expenditure, revenue, tax and grant decentralization. For each cluster a panel model is estimated to reveal an influence of selected variables on fiscal decentralization, while fiscal decentralization as dependent variable is measured by chosen various measure. Sensitivity of the estimation results on the fiscal decentralization measurement is obvious. Obtained results partially support assumptions given on basics of related literature. Significant appearance of the economy openness variable, GDP per capita growth and inflation rate, public and local debt variable and variable based on dependency ratio, and population density is influenced by construction of the fiscal decentralization indicator. It might explain the disunited character of observed FEM and REM results, additionally the turn of coefficient sign comparing fiscal decentralization measures postulates certain common tendencies revealing the fiscal decentralization character and conditions.
- ItemThe GAP of importance of design in business between 2014 and 2016(Technická Univerzita v Liberci, 2018-06-28) Kramoliš, Jan; Kotásková, Anna; Ekonomická fakultaIn today´s very tough market struggle in the Czech Republic, more and more companies are aware that innovation is one of the key aspects leading to market success. The main research aim of this paper is to explore how “design” represents a business success trigger. This article examines the importance of four selected factors in the Czech Republic in 2014 and 2016 (design, quality, price, and reliability) in business success. Solutions were identified in two basic hypotheses (H1: Referring to the importance of design in relation to the success rate of the company, there is a difference between the companies conducting business in B2B and B2C markets; H2: Referring to the importance of design in relation to the success rate of the company, there is a difference among small, medium-sized, and large businesses) that were subject to statistical testing using chi-square and p-value. To evaluate results of the research, brief comparative analyses have been compiled. The conclusion builds on the authors’ 2015 study and shows changes researched on the issue of business importance. Design represents a very important competitive factor that influences their final decision. On the contrary, the company size specification does not influence the perception of the importance of design in Czech companies. The results clearly indicate only a minor shift. The “design” factor as the presumed business success trigger still has a weaker position compared to the rest of the examined factors. Quality and reliability have the strongest importance. In addition, there was a slight decline in the importance of the “product price” factor.
- ItemInternet of things and its challenges in supply chain management; a rough strength-relation analysis method(Technická Univerzita v Liberci, 2018-06-28) Pishdar, Mahsa; Ghasemzadeh, Fatemeh; Antucheviciene, Jurgita; Saparauskas, Jonas; Ekonomická fakultaInternet of Things application (IOT) in supply chain management is becoming imperative and can shape a strategic competitive advantage. Albeit, different challenges appear through this application, most of the previous studies consider less about these challenges and focus on the advantages of IOT. To overcome this defect, different challenges that a supply chain may face as whole are determined based on systematic literature review and expert opinions. Then, a rough group decision-making and trial evaluation laboratory (DEMATEL) is applied. Advantages of the proposed model are that both internal strength and external influence of challenges and also vagueness and ambiguity of experts’ opinions are simultaneously noticed to completely show the importance of these challenges. The results show that challenges such as lack of strategy and scenario planning in IOT, storage issues, lack of security and lack of privacy are of great importance. So, these challenges should have a higher priority in attracting attention and resources. These results help managers to be equipped to face with main challenges in their path toward IOT in their supply chains. Accordingly some practical suggestions for managers are discussed in this paper, such as starting the journey toward IOT step by step, planning for a data storage system which is appropriate for big data, setting up a security policy to prevent out-coming problems caused by lack of security and privacy inherited by IOT, conducting a privacy or security risk assessment, minimizing the data collection and retain and testing the security measures before launching the products, and establishment of a legal framework to construct a problem-solving network in such a messed up and dynamic environment for processing such complicated huge data.
- ItemInequalities in health status depending on socio-economic situation in the European countries(Technická Univerzita v Liberci, 2018-06-28) Pacáková, Viera; Kopecká, Lucie; Ekonomická fakultaThere are a number of major studies which have demonstrated a clear link between socio-economic background (such as income or occupation) and health. The goal of this article is to assess and quantify inequalities in health status of inhabitants depending on socio-economic situation in European countries based on selected social and health indicators in two different periods. The earlier period is the year 2000, and the later period is the year 2015 or the most recent years. The results of the analysis based on multidimensional statistical methods should give an answer to the question as to whether and how strongly the socio-economic situation in the countries of Europe affects the health status of the population and how the situation has changed over the course of 15 years. In accordance with the stated objectives we have chosen 15 variables (source: WHO, OECD, Eurostat). These variables (indicators) together characterize the quality of life in terms of socio-economic situation and state of health of citizens in 22 selected European countries. The choice of countries was mainly influenced by the availability of data of the selected variables in the both years 2000 and 2015. According to the above mentioned goals of the article we have used factor analysis, cluster analysis and multidimensional comparative analysis methods on data sets of health and socio-economic indicators in the both years. The results of the application of these multidimensional statistical methods, their comparisons and comparisons over time can provide information on whether the targets of the European Commission and the OECD to reduce health inequalities, depending on the socio-economic situation in European countries, in the period from 2000 to 2015 have been achieved.
- ItemThe information content of share repurchases – evidence from Poland(Technická Univerzita v Liberci, 2018-06-28) Wrońska-Bukalska, Elżbieta; Kaźmierska-Jóźwiak, Bogna; Rozkovec, Jiri; Ekonomická fakultaAnnouncements of open market repurchase programmes have recently become common not only in the United States but also in many other, less developed countries. The aim of the paper is to examine the market reaction to share repurchase announcements and to investigate the reasons for the market reaction. There is a good deal of research referring to the share repurchases, even in Poland, the originality of our approach is that we conducted our research on an alternative system of trading to the Warsaw Stock of Exchange, namely NewConnect. NewConnect is dedicated to young, small and innovative companies. We found it extremely interesting that such companies in need of external financing take the decision to distribute cash and implement share repurchase. The data was collected for 64 share repurchase announcements over the period 2007-2016. In this study cumulative average abnormal returns are applied to identify the market reaction. To investigate the factors which drive investor behaviour we applied the regressions model. We employed some explanatory variables describing the agency theory and signalling hypotheses: relative payout, market to book ratio, operational cash flow, and debt ratio. We found that cumulative average abnormal returns around the share repurchase date are significant at standard levels of confidence in all the analysed event windows. The results of the multivariate and univariate regression analyses do not support the undervaluation hypothesis, as we expected.
- ItemImpact of economic development on the ecology in the regions of Lithuania(Technická Univerzita v Liberci, 2018-06-28) Ginevicius, Romualdas; Gedvilaite, Dainora; Stasiukynas, Andrius; Ekonomická fakultaAll three components of sustainable development (SD) – economic, social and ecological – are closely interrelated and have both direct and reverse impacts. To better understand the SD phenomenon and to manage it purposefully, we need to perform two essential tasks: first, a quantitative analysis of the status of the components; and second, a quantitative assessment of their impact on one another. Both economic development and ecological development are complex processes that manifest themselves in many aspects; thus, the quantitative assessment of the condition of these processes is based on multi-criteria methods. The article analyses the impact of economic development of the regions of the state on the ecological development as an essential component thereof. The latter statement represents the purpose of the study. The set of economic development indices is formed based on the possibility to obtain the required statistical information. Only those indices that reflect irreversible resources: water, air and land resources – are included in the system of economic development indices. Following the assessment of the condition of economic development and of the ecological development, the interrelation between the economic development and the ecological development shall be analysed based on correlation and regression analysis. It has been determined that economic development in the regions of Lithuania has a negative impact on the ecological development in those regions (r = 0.82). The components of economic development reflect only 57% of its impact on the ecology; whereas construction (r = 0.71) and industry (r = 0.47) have the biggest negative impact.
- ItemEconomic projection and evaluation of mining venture(Technická Univerzita v Liberci, 2018-06-28) Čech, Jozef; Šofranko, Marian; Ekonomická fakultaThe paper is dealing with a new approach and technique to evaluate entrepreneur ventures using computer aided economic projection system. The term “economic projection” represents ability to display given venture from engineer’s point of view (in constructive, object and process-oriented way) into financial reports and indicators over time. Eventually it enables the user to carry out financial, investment, sensitivity, risk, scenario and what-if analyses according to requirements. It opens possibilities for changes in design or plan in order to optimize given venture in terms of economic results. The introduction contains some critical views of contemporary state in given field, i.e. in evaluation and feasibility assessment of such capital intensive and time demanding ventures. In the next, it is dealing with mathematical formulation of the problem underlying new method and its computer realization. Finally, it presents practical application of the technique to an existing underground mine and mineral processing plant. The task was to make assessment of viability of a proposed mining venture on a selected part of deposit called Silver Vein. The study was to provide overall evaluation of the proposed venture, regarding many engineering aspects with eventually investment and financial analysis, risk and what-if analysis in defined cases, which were presented. The results show viability and optimistic outlook for this mining venture, certainly, at given declared conditions. Additionally, the study has encouraged for future research. The intention is to try to search for a balanced, although less profitable, but more socially oriented subvention-aided mining venture with mine expansion beyond limits of the selected parts of deposit and thereby to prolong the life of mine and to back employment in given region. Future applications being considered is to use the system at planning of highways and motorways within reconstruction of transport infrastructure, being pursued at the present time in Slovakia.
- ItemIndexing financial reporting information for heritage management(Technická Univerzita v Liberci, 2018-06-28) Noaman, Nabiela; Ouda, Hassan; Christiaens, Johan; Ekonomická fakultaThe main role of effective heritage management (HM) is to utilize heritage assets while safeguarding them for present and future generations. Proper financial reporting could increase the management capacity in safeguarding these valuable possessions by providing useful information for decision making and management discharge of accountability. In this study we focus on investigating the significance of financial reporting information for the HM practice. We assess how accounting standards comply with user-needs. For this purpose, a measurement tool; disclosure index is developed to identify and assess the significance of financial reporting information for HM. The index is tested quantitatively and qualitatively in Egypt for its huge bequest of heritage. Our results indicate that four financial reporting dimensions of HA; namely performance, accountability, disclosure and narrative are significant for HM, comprising 18 financial reporting items. While the recognition and measurement dimension is found insignificant to the managerial practice. On the international context, the study contributes to the current debate; “determining the appropriate accounting treatment for heritage assets”. This is by identifying user-needs which is the base for determining financial reporting objective. On the country context of Egypt, the results revealed that the appropriate accounting basis for HA is the modified accrual.