Integration in Central European capital markets in the context of the global COVID-19 pandemic

Pardal, Pedro; Dias, Rui; Šuleř, Petr; Teixeira, Nuno; Krulický, Tomáš

doi:10.24136/eq.2020.027

Cited by 61 publications

(46 citation statements)

References 52 publications

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“…The impact of Covid-19 on the economy and small firms The media coverage is dominated by suggestions claiming that the coronavirus pandemic will lead to a recession in the economy. This seems a fairly obvious observation resulting from the rising number of infections in most countries, school closings, the promotion of social distancing measures, economic lockdowns, and drastic drops in global stock markets (Ramelli & Wagner, 2020;Pardal et al, 2020;Dias et al, 2020). The subject literature emphasizes that the Covid-19 pandemic -unlike previous crises -has many different dimensions, including economic.…”

Section: Literature Reviewmentioning

confidence: 99%

Consolidation strategies of small family firms in Poland during Covid-19 crisis

Marjański¹,

Sułkowski²

2021

EBER

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The objective of the article is to contribute to research into family businesses by understanding how small family businesses are responding and adapting to the Covid-19 crisis. Research Design & Methods:The research method is based on a comparative analysis of case studies. To investigate the impact of Covid-19 on small family businesses in Poland, we conducted exploratory studies in 12 entities, based on 29 partially structured interviews with managers of these companies. Findings: The sudden spread of the Covid-19 pandemic around the world took many lives and caused severe restrictions in social and private life, including the business sector. While almost every firm has been affected by the pandemic crisis, small businesses, dominated by family businesses, are particularly vulnerable to it. Our findings show that the Covid-19 crisis affects all companies and presents a completely new challenge that has so far had no precedent. Small family businesses are not prepared for the prolonged state of uncertainty and tension threatening the continuity of their operations, which particularly endangers financial stability and employee maintenance. In responding to the crisis, small family firms cannot refer to previous experience or developed methods and patterns of operation. Implications & Recommendations: Small family businesses must quickly adapt their operations to changing conditions, regardless of their size and industry in which they operate. Covid-19 in small family businesses causes changes in their approach to running the business and family life. Contribution & Value Added: According to our knowledge, this is the first empirical study in Poland on the impact of Covid-19 on small family businesses. Article type:research article

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Section: Literature Reviewmentioning

confidence: 99%

Consolidation strategies of small family firms in Poland during Covid-19 crisis

Marjański¹,

Sułkowski²

2021

EBER

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“…In recent months, demand and supply in road freight transport have changed significantly in connection with the measures taken to prevent the spread of COVID-19 (Dias et al, 2020;Korzeb & Niedziolka, 2020;Kufel, 2020;Kuc-Czarnecka, 2020;Pardal et al, 2020;Zinecker et al, 2021). Some plants stopped production, which significantly reduced the demand for transportation.…”

Section: Discussionmentioning

confidence: 99%

New paradigms of quantification of economic efficiency in the transport sector

Poliak

Švábová

Konečný

et al. 2021

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Research background: In determining the prices in road transport, carriers usually use the calculations based on a so-called routes utilisation coefficient, which allows the carrier to also take the possibility of the return rides without load into account. Currently, it is usually used as a constant from the interval from zero to one. Purpose of the article: Considering a different offer of return transport from individual European Union (EU) countries, it can be assumed that the routes utilisation coefficient should have different values because there is a varying level of non-zero probability that the vehicle will return without a load. This study therefore proposes a new approach to determining the value of this coefficient based on transport direction. The study also aims to identify clusters of EU countries, for which the common value of the coefficient should be set. Methods: The Analysis of Variance (ANOVA) test was used to verify the assumption of the differences among the means of transport offers. Cluster analysis was used to identify the aforementioned groups of countries. This analysis is based on real data on transport offers to Slovakia from 18 different EU countries. Findings & value added: The results of the analysis can also be used in other EU countries because if significant differences in transport offers to Slovakia exist in individual countries, there is a reasonable assumption that this conclusion will also be valid in other countries. The analysis demonstrated that it is more appropriate to use the routes utilisation coefficient with various values, dependent on the transport direction. For the transport companies, implementation of the obtained results into practice is beneficial to increase their competitiveness through the more precise setting of transport prices, but also to the optimisation of the transport price itself with regard to the expected costs.

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“…It is obvious that this problem will decrease with increasing quality and speed of filling of world databases or development of more efficient and reliable artificial intelligence models, as well as statistical analyses usable in forecasting methods resistant to missing or incomplete data. During the COVID-19 pandemic, most governments significantly increased their spending [76][77][78][79][80], so determining the impact on the energy sector seems relevant.…”

Section: Discussionmentioning

confidence: 99%

Methodology for Calculating the Energy Security Index of the State: Taking into Account Modern Megatrends

et al. 2021

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Energy issue stays a top priority for the national security of most countries. Despite numerous international forums, large-scale geoeconomic research, international and national projects, and the development of appropriate strategies, the issue of energy security assessment and understanding of its terminology is not a universal practice. The presented study has an ambitious goal to develop a methodology that can provide an objective picture of the energy sector on an international scale with cross-country comparisons under the influence of modern megatrends. Based on 29 indicators, according to the World Bank data since 1991, the energy security index is calculated for the set of world states with further analysis of the cluster dynamics of their common trends in energy security. The index showed its objectivity and resistance to existing shocks in geoeconomic dynamics. An important feature of the proposed index is the possibility to compare the energy security index with 1. This value is, in fact, a European average: if a country has an energy security index greater than 1, it means that its energy level is currently better than the European average, and if it is lower than 1, it means that it is inferior to the level of energy security currently achieved on average in Europe. The concept of calculating the index of energy security of the state is based on a unified comparison of all countries, which allows us to move away from the use of signaling approaches and eliminate subjectivity in calculations, as well as provide a basis for dynamic comparison of energy security. The vital aspect of the index is that it takes into account changes in the energy paradigm, the transition to alternative energy sources, and the comprehension of the role of energy efficiency, in particular, of fossil fuels. The study identifies clusters of countries that have consistent similarities in energy security, which can usually be of practical interest in developing energy strategies and understanding the similarity of geoeconomic interests of these states. Thus, this article contributes not only to the development of scientific approaches to the assessment of energy issues, in particular, through the methodological development of a representative index, but also through the presentation of statistically sound results for further effective management decisions at the state level.

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Integration in Central European capital markets in the context of the global COVID-19 pandemic

Cited by 61 publications

References 52 publications

Consolidation strategies of small family firms in Poland during Covid-19 crisis

Consolidation strategies of small family firms in Poland during Covid-19 crisis

New paradigms of quantification of economic efficiency in the transport sector

Methodology for Calculating the Energy Security Index of the State: Taking into Account Modern Megatrends

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