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The purpose of this article is to explore the selected aspects of inter-firm cooperation between the manufacturing firms and their partners. Authors aim also to empirically investigate how this cooperation allows performing a successful internationalization and gaining competitive advantage on the foreign markets. Analysis is carried out on a sample of 7 Polish manufacturing companies that are cooperating with foreign suppliers or customers on a regular basis. Data were gathered using a tailored questionnaire distributed via e-mail. The results show that Polish companies rarely choose cooperative entry methods when aiming for internationalization of their operations. They do not perceive a direct link between cooperation with other Polish companies and the success of internationalization. These results are in line with other research. The conducted study shows that the problem of improving a manufacturer's competitive position on international markets by developing business relationships is still complex and requires further exploration.
The purpose of this article is to explore the selected aspects of inter-firm cooperation between the manufacturing firms and their partners. Authors aim also to empirically investigate how this cooperation allows performing a successful internationalization and gaining competitive advantage on the foreign markets. Analysis is carried out on a sample of 7 Polish manufacturing companies that are cooperating with foreign suppliers or customers on a regular basis. Data were gathered using a tailored questionnaire distributed via e-mail. The results show that Polish companies rarely choose cooperative entry methods when aiming for internationalization of their operations. They do not perceive a direct link between cooperation with other Polish companies and the success of internationalization. These results are in line with other research. The conducted study shows that the problem of improving a manufacturer's competitive position on international markets by developing business relationships is still complex and requires further exploration.
The aim of this study is to determine whether relationship occurs between organizational commitment and organizational cynicism attitudes among employees who were employed in five and four star hotels located in Southeastern Anatolia Region of Turkey and to affirm the extent of the relationship. According to the findings, there is a significant (negative) relationship between three sub-dimensions of organizational cynicism (behavioral cynicism, affective cynicism and cognitive cynicism) and organizational commitment. Multiple regression and correlation analysis were applied to analyze data and identify the relationship between organizational commitment and organizational cynicism. According to the findings of the research, it is revealed that, as the level of organizational cynicism arises, attitudes toward organizational commitment decrease. Those results are consistent with findings of the previous studies that employees with cynical attitudes exhibited lower commitment in the organization. The results of this research showed that hotel employees mostly experience cognitive cynicism among sub-dimensions of cynicism and they rarely experience affective cynicism. In conclusion, it is possible to assert that employees were with medium level of organizational cynicism and organizational commitment.
Efficient market risk management should also focus on the market liquidity risk, which is generally ignored by the conventional Value at Risk Metrics. We propose two alternative parametric methods to existing studies for the estimation of Liquidity Adjusted Value at Risk (LVaR). The first model is based on the volatility dynamics of VNET (Engle and Lange, 2001) whereas the second model also incorporates the first two moments of the tightness dimension to the latter, as measured by relative weighted bid-ask spreads. Considering a portfolio with different underlying volatility assumptions (EWMA, GARCH-CCC, GARCH-DCC), validation results indicate that both parametric LVaR approaches are strong alternatives to tightness based LVaR models and strictly superior to conventional VaR models, with respect to performance related to regulatory compliance, statistical coverage and overall relative cost of liquidity vs. loss size on violation days.
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