Economic sentiment indicators and their prediction capabilities in business cycles of EU countries

Tkacova, Andrea; Gavurova, Beata

doi:10.24136/oc.2023.029

Cited by 6 publications

(3 citation statements)

References 47 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Indicators of the country's economic development also have a significant impact on the quality of life of the population (Tkacova & Gavurova, 2023;Ben Amor, 2023;Hara, 2023;Kot & Paradowski, 2022;Daubaraite-Radikiene & Startine, 2022). Thus, Easterlin & Angelescu (2007) substantiated the positive impact of economic growth on the quality of life.…”

Section: Literature Reviewmentioning

confidence: 95%

Social and economic determinants of quality of life: Case of European countries

Vasylieva,

Witczak-Smolnik,

Tiutiunyk

et al. 2023

Economics &Amp; Sociology

View full text Add to dashboard Cite

The article is devoted to the study of economic and social drivers of quality of life. The method of weighted sums and the Fishburn formula were employed to assess the level of quality of life. Using Ward's method and the Kalinsky-Kharabash test, three clusters of countries were identified. The relationship between indicators was modeled with the Johansen, Dickey-Fuller and Phillips-Perron tests. Five indicators of social development (children out of school, unemployment, literacy rate, hospital beds, total population) and six indicators of economic development (GDP, minimum wage, government expenditure on education, current health expenditure, state expenditure on physical culture and sports industry) were chosen to establish the relationship between the indicators. The research was focused on the data of 30 European countries. Two hypotheses were proposed and tested in the study. Hypothesis H1 was that public spending on education, health care, and sports stimulates an increase in the quality of life. This hypothesis was confirmed for all countries. Hypothesis H2 assumed that the number of children out of school, the level of unemployment, and illiteracy negatively affect the quality of life. This hypothesis was confirmed only for a small number of countries.

show abstract

Section: Literature Reviewmentioning

confidence: 95%

Social and economic determinants of quality of life: Case of European countries

Vasylieva,

Witczak-Smolnik,

Tiutiunyk

et al. 2023

Economics &Amp; Sociology

View full text Add to dashboard Cite

show abstract

“…Lenders need to evaluate the riskiness of the investment or to find out the creditworthiness of the business. Based on the evaluation of the company's financial situation, it can be classified into a certain credit risk group (Tkacova & Gavurova, 2023). Forecasts (prediction models) can also be used by companies as an early warning system, enabling management to intervene in time (Gavurova et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Predicting bankruptcy using artificial intelligence: The case of the engineering industry

Letkovsky,

Jencova,

Vasanicova

et al. 2023

Economics &Amp; Sociology

View full text Add to dashboard Cite

Bankruptcy prediction is a powerful early-warning tool and plays a crucial role in various aspects of financial and business management. It is vital for safeguarding investments, maintaining financial stability, making informed credit decisions, and contributing to the overall health of the economy. This paper aims to develop bankruptcy prediction models for the Slovak engineering industry and to compare their effectiveness. Predictions are generated using the classical logistic regression (LR) method as well as artificial intelligence (AI) techniques (artificial neural networks (ANN) and support vector machines (SVM)). Research sample consists of 825 businesses operating in the engineering industry (Manufacture of machinery and equipment n.e.c.; Manufacture of motor vehicles, trailers and semi-trailers; Manufacture of other transport equipment). The selection of eight financial indicators is grounded in prior research and existing literature. The results show high accuracy for all used methods. The SVM outcomes indicate a level of accuracy on the test set that is nearly indistinguishable from that of the ANN model. The use of AI techniques demonstrates their effective predictive capabilities and holds a significant position within the realm of tools for forecasting bankruptcy.

show abstract

“…Then, steel products are indispensable for machinery, construction of entire infrastructures and housing, and also essential for the automotive and engineering industries (Tkacova & Gavurova, 2023). With the significant development of machinery manufacturing, infrastructure construction, housing, and the automotive industry development, approximately 80 % of China's steel production is consumed by these enumerated industries (Ma, 2021).…”

Section: Introductionmentioning

confidence: 99%

Determination of iron procurement strategy for manufacturing companies

Apanovych,

Prágr

2023

JESI

View full text Add to dashboard Cite

The objective of this paper is to evaluate the price development of iron (steel rebar and hot rolled coil steel) on commodity exchanges, to determine the dependence of the price of iron on prices of other major commodities (crude oil and natural gas), to forecast its future development and to propose a particular iron procurement strategy for manufacturing companies in the South Bohemian Region until the end of 2028. The content analysis method was selected to evaluate the price development. It was also used to assess the dependence of iron prices on other major commodities, which was considered using the correlation analysis method. The artificial neural network method, multilayer perceptron networks, was selected and used to forecast future price development. All calculations are performed using Statistica software (version 13). Linear regression is conducted using different functions, with 1,000 neural structures being generated each time, out of which 5 structures showing the best characteristics are selected. These are retained to forecast future prices for the 2023-2028 period in three experiments. Results are presented in tables and graphs processed in Microsoft Excel. Based on the selected variants of future steel price forecasting, a specific iron procurement strategy can be recommended for manufacturing companies in the South Bohemian Region until the end of 2028.

show abstract

Economic sentiment indicators and their prediction capabilities in business cycles of EU countries

Cited by 6 publications

References 47 publications

Social and economic determinants of quality of life: Case of European countries

Social and economic determinants of quality of life: Case of European countries

Predicting bankruptcy using artificial intelligence: The case of the engineering industry

Determination of iron procurement strategy for manufacturing companies

Contact Info

Product

Resources

About