Číslo 2

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https://dspace.tul.cz/handle/15240/152548

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Country-specific determinants of intra-industry trade in pharmaceuticals: the case of Poland and its European Union partners
(Technická Univerzita v Liberci, ) Łapińska, Justyna; Meluzínová, Jana; Uhman, Jiří; Ekonomická fakulta
Trade cooperation between European Union countries is based mainly on intra-industry trade, consisting in the simultaneous import and export of similar products belonging to the same industry (commodity group).
The model assessing the impact of price and provided services on the quality of the trip by train: MCDM approach
(Technická Univerzita v Liberci, ) Sivilevičius, Henrikas; Maskeliūnaitė, Lijana; Ekonomická fakulta
Long-distance transportation of passengers is usually performed by air and rail transport. The time and cost of the trip, as well as quality and variety of services and other economic criteria, strongly influence the choice of one of the competing transport facilities. The quality of the trip by train is determined by the criteria of four groups associated with the vehicle elements and the state of the railway line, organization of the trip by train, its technology, the price of the trip and the provided services (PTPS) and safety of the trip by train. The paper presents a model of the major component of the comprehensive quality index (CQI), characterizing a trip by an international train from such aspects as the PTPS. Based on using the analytic hierarchy process (AHP), the weights of these criteria groups and the weights of the criteria of each group are determined. A survey of the respondents of three categories, including passengers, service staff of the train and the administration staff of the joint-stock company, is conducted to know their opinions about various aspects of the trip described by the considered criteria. The model is based on the average weight and the weights of six criteria of the group, describing the PTPS, which are multiplied by the calculated variables. This allows the quality of the trip by train, depending only on these criteria, to be expressed in a single number. The numerical example shows that the suggested model yields reliable data and can be used in practice for evaluating the quality of trips by various international trains.
Factors determining profitability of small and medium enterprises in selected industry of mechanical engineering in the Slovak Republic – the empirical study
(Technická Univerzita v Liberci, ) Lesáková, Ľubica; Ondrušová, Andrea; Vinczeová, Miroslava; Ekonomická fakulta
The profitability analysis revealing factors influencing profitability becomes a very helpful tool providing guidelines for managers in their short-term as well as strategic decision-making process. To take right decisions, managers need to analyse their financial situation, especially in respect to firm´s profitability and the factors influencing it. Mechanical engineering industry belongs to key industries in Slovakia. It apparently plays an essential role in the global economy, it is a source of entrepreneurship, innovations and new jobs. Many of enterprises operating in this industry are small or medium-sized. These are some of the reasons for which SMEs´ profitability and ways of its improvement should draw particular attention. The paper presents results of research carried out in the selected industry of mechanical engineering of SMEs in Slovakia (SK NACE rev. 2 28xxx – Manufacture of machinery and equipment not elsewhere classified). The aim of the research is to analyse and evaluate the development of profitability in this industry during the period 2008- 2015 and to identify key external and internal factors influencing profitability of SMEs over that period. In order to determine the influence of basic indicators, the DuPont pyramidal analysis was performed. Data obtained by means of the questionnaire survey enabled to identify the factors affecting profitability whose influence is impossible to calculate. The Friedman and Wilcoxon tests were used to evaluate the answers in questionnaires. Results are connected with the evaluation of three hypotheses defined in regard of the established goal of the paper.
Critical success factors in ERP system adoption: comparative analysis of the private and the public sector
(Technická Univerzita v Liberci, ) Seres, Laslo; Tumbas, Pere; Matkovic, Predrag; Sakal, Marton; Ekonomická fakulta
This research provides useful insight into differences in the perception of significance and the degree of fulfillment of Critical Success Factors (CSFs) of Enterprise Resource Planning (ERP) adoption between private and public sector organizations. The survey was conducted on a sample of 77 Serbian organizations, with approximately equal representation of those from the private and the public sector. A comprehensive list of CSFs, compiled as a result of an extensive literature review, was included in the questionnaire. The collected data and statistical procedures applied revealed the CSFs that differentiate the organizations from the two observed sectors. Involvement of end users in ERP adoption and implementation activities has proven to be the CSF in relation to which the assessments and attitudes of organizations from the two sectors differ the most. Results of this research indicate that differences between private and public sector organizations are more distinct in terms of their level of fulfillment of ERP adoption CSFs than they are in terms of their assessment of CSFs’ significance. This points to a conclusion that differences in the way of functioning and governance of organizations from these two sectors influence their ability to tackle the problems much more than their ability to recognize them. The practical contribution of this research is in providing some useful findings that can greatly assist relevant stakeholders to achieve a higher success rate in an ERP adoption. In addition to responding to the initial research questions, this paper has also revealed new issues, suggesting the need for further research.
City specialisation and diversification in South East Europe (SEE) countries
(Technická Univerzita v Liberci, ) Rašić Bakarić, Ivana; Bačić, Katarina; Slijepčević, Sunčana; Ekonomická fakulta
The main objective of the paper is to study the role of localisation and the urbanisation (or diversification) economies in urban post-transition SEE, by constructing and analysing manufacturing specialisation and diversification measures over the period 2006-2013. The second objective of the paper is to analyse differences within manufacturing industry across cities in terms of their technological complexity. Industries are mapped across cities with over 50,000 populations (98 cities in six SEE, covering 35.3% of the total SEE population), a population threshold that is in line with previous literature. The data were obtained from Bureau Van Dijk’s Amadeus firm-level database containing, most importantly, balance sheet data and profit-and-loss account data for CEE. The analysis of manufacturing industry diversification and specialisation in the cities is based on the relation between agglomeration economies of the Marshall-Arrow-Romer type (economies of location or specialization) and the Jacobs-Porter type (economies of urbanization or diversification). Analysis results revealed that a particular specialisation pattern that would point to a homogenous system of cities throughout the region could not be confirmed. City specialisation in manufacturing was negatively correlated to city size in SEE, but this relation has not shown particularly strong. Similarly to other countries, top-specialised cities are specialised in manufacturing closely related to natural resources such as petroleum products and tobacco, pointing to advantages arising from “first nature” geography. However, diversity and specialisation are not exact opposites, as there are cities which are both diversified and specialised. The results of the second part of the analysis show that medium-low technology and low technology groups of industries in manufacturing prevail in total turnover, with 36.2% and 35.0% share, respectively. City specialization in the prevailing technology group in SEE, in medium-low technology, is highest in Bulgarian, Bosnian and Herzegovinian and in Croatian cities.
Comparative statistical analysis of selected control charts for highly capable processes
(Technická Univerzita v Liberci, ) Jarošová, Eva; Noskievičová, Darja; Ekonomická fakulta
When a high-quality process is to be controlled by 100% inspection and yes-no decision is employed, several types of charts come into account, e.g. CCC, CCC-r or geometric CUSUM (CCC-CUSUM). The aim of the paper is to examine performance of these charts so that a suitable one can be chosen for a given process. The charts are compared according to the quickness with which the upward shift in the fraction of nonconforming items is detected. The average number of observations to signal (ANOS) instead of the usual average run length (ARL) is determined. While ANOS for CCC or CCC-r charts can be easily calculated based on a geometric or a negative binomial distribution, its computation is quite difficult in the case of CCC-CUSUM chart. The corrected diffusion (CD) approximation was used to determine ANOS and the results were verified by Monte Carlo simulation. Zero-state and steady-state (both fixed-shift and random-shift model) analyses were performed to take different scenarios of the process shift occurrence into account. CCC-3 or CCC-2 and CCC-CUSUM charts were compared. The order r for CCC-r chart was chosen as an optimal value for the given process based on the semi-economic model suggested in Brodecká (2013). Our study revealed that for in-control p0 equal to 0.0002 the CCC-CUSUM chart performs best especially for shifts around the pre-specified out-of-control fraction nonconforming. The CCC-r chart may be comparable or even better in detecting larger shifts. The results of the comparative study were utilized for the choice of the most suitable and best performing control chart to control the high-yield process producing ERG (Exhaust Gas Recirculation) sensors. Comparisons of CCC-r and CCC-CUSUM charts can be found elsewhere in literature, but conclusions seem to be rather inconsistent. To our best knowledge no study dealing with such small in-control fraction nonconforming together with the low risk of false alarm has been published yet. The choice of CUSUM's parameters and consequent values of ANOS can help practitioners who need to control high-quality processes.
Top management team composition and financial performance: examining the role of gender diversity
(Technická Univerzita v Liberci, ) Egerová, Dana; Nosková, Marta; Ekonomická fakulta
Despite the growing research on the effect of top management team gender diversity on company financial performance, the results remain inconclusive. The theoretical framework guiding this study includes the upper echelons theory and critical mass theory. Under the upper echelons theory framework, the study investigates whether female participation in top management teams positively influences company financial performance. Based on critical mass theory, the study attempts to determine what percentage of women in a top management team constitutes a critical mass. Unlike most previous studies, both theories are applied to only the context of 823 small- and medium-sized enterprises (SMEs) with a workforce between 50 to 250 employees in the manufacturing sector in the Czech Republic. The findings indicate that the premises of the upper echelons theory are also applicable to SMEs. At the same time, the findings show limited support for critical mass theory. More specifically, this study does not support a linear relationship between the number of women in top management team and financial performance and only partially supports a U-shaped curvilinear relationship. The implications of the findings and suggestions for future research are also discussed. In sum, this study brings new insight to the area of gender diversity in top management and advances the gender diversity literature’s understanding of the relationship between top management team composition and company financial performance. Moreover, the study provides a better understanding of the key role of a critical mass in top management teams.
Why employees share their knowledge
(Technická Univerzita v Liberci, ) Matošková, Jana; Ekonomická fakulta
Sharing knowledge among employees reduces the risk of losing unique knowledge, contributes to construction and the inventory demonstrates a high reliability. Based on the mean of the indexes that were calculated, hedonic intrinsic motivation seemed to be the main driver of knowledge sharing. However, the relationship between motivation for knowledge sharing and the intensity of knowledge sharing in the organization was examined as well (N = 99). Motivation for knowledge sharing and all its factors were identified to be significantly related to knowledge sharing. All of these correlations higher productivity and to higher quality, to better problem-solving, to reducing costs, and to organizational innovativeness. Knowledge sharing is driven by employee motivation for it. Nevertheless, motivation is not a simple construct. Therefore, the goal of this study was to find out which kind of motivation is essential to knowledge sharing. An inventory taking into account three types of motivation (hedonic intrinsic, normative intrinsic, and extrinsic) was constructed and a principal axis factor analysis was done. 229 participants from nine organizations fulfilled the questionnaire aimed at their motivation to knowledge sharing. The factor analysis confirmed the questionnaire were positive, and in the case of normative intrinsic motivation the correlation was moderate. That is why rather normative intrinsic motivation (and not hedonic intrinsic motivation) is essential. Additionally, the results showed no significant correlation between hedonic intrinsic motivation and extrinsic motivation. The study indicates that managers in the Czech Republic should support employee organizational commitment if they want to achieve a higher intensity of knowledge sharing.
On the relationship between selected socio-economic indicators and student performances in the PISA 2015 study
(Technická Univerzita v Liberci, ) Mazurek, Jiří; Mielcová, Elena; Ekonomická fakulta
The main aim of this paper was to examine the relationship between the PISA (Programme for International Student Assessment) international study results of 15 and 16 years-old pupils from 2015 and a set of socio-economic indicators (on a national level) such as governments’ expenditures on primary education, gross domestic product per capita, the Democracy index compiled by the Economist Intelligence Unit, or primary teachers’ salaries. The study covered 71 countries or territories, including 34 OECD countries and their 37 non-OECD counterparts. The methods included multivariate linear models, models based on Törnquist functions, and cluster analysis. The main result of the study is that there exists a threshold in terms of GDP per capita and government expenditures on primary education per capita. Above the threshold, the higher GDP per capita or expenditures do not translate into the higher PISA scores. However, below this threshold, the opposite is true. Therefore, poorer and mainly non-OECD countries may achieve better student performances in PISA tests by increasing expenditures on primary education, while for student performances of the wealthy and mainly OECD countries expenditures are not a statistically significant factor. The division between OECD and non-OECD countries was also confirmed to be statistically significant by cluster analysis method. In addition, from linear multivariate models it was found that PISA scores were statistically significantly (and positively) related to the national GDP per capita, governments’ expenditures on primary education, and the Democracy index, while the influence of primary teachers’ salaries on PISA scores was found statistically insignificant
Benefits of KPIs for industry sector evaluation: the case study from the Czech Republic
(Technická Univerzita v Liberci, ) Hedvičáková, Martina; Král, Martin; Ekonomická fakulta
Currently, there is a fourth Industrial Revolution known as Industry 4.0. This industrialization is characterized by structural changes in the substitution of labour by new technologies and capital. The paper focuses on the industrial sector, which is dominant in the Czech Republic and has a significant contribution to GDP and value added. It describes the current economic situation in Czech Republic and in European Union.
Analysis of state investments into human capital in Slovak Republic
(Technická Univerzita v Liberci, ) Palaščáková, Daniela; Koľveková, Gabriela; Melas, Dávid; Ekonomická fakulta
This article is focused on state or government investment into human capital and on investments into universities, which are supposed to lead to an increase in wages of individuals after finishing such education. That part of income of graduates which is exceeding incomes of people with completed high school education, i.e. income bonus is, on one hand, a motivational factor for individual to study at university and on the other hand it is an opportunity for the state to achieve higher tax incomes in absolute terms due to graduates with higher salaries. The main goal of this article is to analyse investments into the human capital from the point of view of the amount of investment and its profitability, as well as from the point of view of the payback period for state investments in education. Quantitative analysis was provided by plugging in data into seven ratios/formulas. The data were from the Ministry of Education of the Slovak Republic. Results are addressing the issue of globalised education, where the fierce competition will lead to changes that will inevitably require a change in investment schemes as well as a change in behaviour and attitude towards education as such. Paper strives for achieving an advantange that is to stimulate debate on human capital in its broad sense as described in the opening of the paper. The context of this humble research is framed by technology changes in global value chains that effect economy in its structure that is turning to be more dynamic then ever.
Cost-effectiveness of extracorporeal membrane oxygenation in resuscitation of patients with refractory cardiac arrest
(Technická Univerzita v Liberci, ) Burišková, Klára; Rogalewicz, Vladimír; Ošťádal, Petr; Ekonomická fakulta
Extracorporeal cardiopulmonary resuscitation (ECPR) has been recently introduced as a therapeutic option for refractory cardiac arrest. Despite growing evidence demonstrating improved survival rate, a number of questions remains unanswered and data on cost-effectiveness are still insufficient. The paper is based on a retrospective observational comparative study of authentic clinical data from patient records. Incremental cost-effectiveness and cost-utility analyses were performed from health care provider's perspective. Sixteen patients undergoing ECPR were included into the analysis and their data were compared with 35 subjects with conventional CPR for refractory cardiac arrest. In the ECPR group eight out of sixteen patients were weaned from ECMO, four of them with good neurological outcomes (CPC 1-2); three patients survived one year with CPC 1-2, one patient survived one year with severe neurological dysfunction (CPC 3), and one patient with persisting coma (CPC 4). In comparison, in the non-ECPR group all patients died within 24 hours. In the ECPR group, the average annual costs per patient reached CZK 885,044 (Levitronix Centrimag), and CZK 788,432 (Cardiohelp) (the 2013 price level). CUA revealed 3,961,970 CZK/QALY with Cardiohelp, and 4,447,457 CZK/QALY with Levitronix. However, if only patients with CPC 1-2 were included into the analysis, the cost-utility ratio decreased below the unofficial Czech cost-effectiveness threshold. Our data indicate that ECPR for refractory cardiac arrest may be cost-effective despite high costs per individual patients, especially if we were able to better select patients for this intervention based on a reliable prediction of the neurological outcome.
Quantitative easing effects on equity markets – event study evidence from the US
(Technická Univerzita v Liberci, ) Šafár, Leoš; Siničáková, Marianna; Ekonomická fakulta
In this paper we examine effects of the QE related statements made by the FED on major equity indices in the US. We consider days, when announcements had been made, as events for the event-study. We approach this methodology with aim to calculate excess returns on particular announcement day for Dow Jones Industrial Average, Standard´s & Poor´s 500, NASDAQ and Russell2000. Admitting complexity of those statements, and difficulty to isolate effects linked only to QE related information, we analysed statements individually, to be able to extrapolate deviations more accurately. Results indicate positive excess returns (above average performance over previous 60 days) on each index from 2008 to 2017 in average, while on some specific announcements, excess returns fell to negative range, which could be explained as misunderstanding of reaction function or active portfolio rebalancing towards assets directly influenced by the programme mentioned in the particular announcement. Considering also multiplicity, for DJIA, NASDAQ and S&P500 we conclude, that positive reactions follow especially information linked to prolongation or expansion of existing QE programme, while on the other hand initial information about QE cause mentioned portfolio rebalancing from equities towards other assets (RUSSEL2000 did not signal particular direction in line with announcement days´ information). We can also conclude that even if tapering linked information are considered as a part of the QE programmes, we did not find significant evidence of neither positive nor negative reaction on particular tapering-linked announcements. We add on, that the tapering and balance sheet unwinding are unprecedented to some extent, and therefore require further research, especially in current environment where such policy normalization is widely discussed.
Financing selection method in discipline evaluation using a weighted induced model
(Technická Univerzita v Liberci, ) Chen, Yufen; Jin, Huanhuan; Chen, Chao; Zhang, Chonghui; Ekonomická fakulta
The selection of a suitable financing alternative involves multifarious attributes that should be assessed to provide a basis foundation for decision-making. As an effective generation of intuitionistic fuzzy set and linguistic term, the intuitionistic linguistic set (ILS) has greater power for processing uncertain information during decision-making process. Keep this feature in mind, the main purpose of this paper is to investigate a weighted induced aggregation approach for decision-making problem concerning financing selection with complex uncertainty in term of intuitionistic linguistic (IL) information. For this, a new intuitionistic linguistic aggregation operator based on the weighted induced approach, namely the IL weighted induced ordered average-weighted averaging (ILWIOWAWA) operator, is proposed to integrate intuitionistic linguistic information. The special advantage of this operator is that it can integrate the subjective information with the particular attitudinal characters in form of order-induced variables in the same expression during information fusion. Moreover, it is able to deal with uncertain information represented by intuitionistic linguistic set very effectively. Some of its properties and particular cases are mathematically explored. We have proved that it has the properties of monotonicity, boundedness, idempotency, nonnegativity and reflexivity. A further extension of the proposed operator is also represented in term of quasi-arithmetic means, then we get the quasi-arithmetic ILWIOWAWA (QILWIOWAWA) operator, which encompasses a very broad class of IL aggregation operators. In addition, based on the developed operator, a procedure for multiple attribute group decision-making (MAGDM) problems has been discussed. Finally, a numerical application related to the discipline evaluation in university is used to show the validity and practicability of the proposed method.

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