Technological Potential of European Economy. Proposition of Measurement with Application of Multiple Criteria Decision Analysis

Balcerzak, Adam P.

doi:10.14254/1800-5845.2016/12-3/1

Cited by 39 publications

(27 citation statements)

References 27 publications

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“…Globalisation phenomenon and changes in the main development determinants of industrialised countries lead to growing interdependencies among economies (Balcerzak, 2009(Balcerzak, , 2016aJanda et al, 2013;Pohulak-Żołędowska, 2016;Kondratiuk-Nierodzińska, 2016;Pietrzak and Balcerzak, 2016a;Pietrzak, 2016a, 2017). That factor can be especially significant in the case of capital markets Osińska et al, 2016).…”

Section: Introductionmentioning

confidence: 99%

Short-term Shocks and Long-term Relationships of Interdependencies Among Central European Capital Markets

Pietrzak¹,

Fałdziński²,

Balcerzak³

et al. 2017

Economics &Amp; Sociology

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ABSTRACT. The article focuses on the problem of interdependences among Central European capital markets. The main aim of this research is to identify longterm interdependences among Austrian, Czech, Hungarian and Polish capital markets and the market of Germany. Additionally, the impact of short-term shocks on these markets is under evaluation. In the first step of the research the interdependencies among the capital markets in the years 1997-2015 were verified. For this purpose the DCC-GARCH model with the conditional t-distribution was used. In the second step, an analysis of cointegration for the interdependencies among the markets was carried out. The authors proposed to include conditional variances of the analysed markets as additional explanatory variables in the cointegration analysis. As the conditional variance most often reflects the impact of short-term shocks, the proposed approach allowed to take into account shortterm market shocks in the cointegration analysis. The results enabled to identify long-term path for the course of the interdependences among markets of Germany, Austria, Czech Republic, Hungary and Poland. The mentioned Central European capital markets make a group of markets characterized with similar long-term path, which are focused around the dominant market of Germany.

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Section: Introductionmentioning

confidence: 99%

Short-term Shocks and Long-term Relationships of Interdependencies Among Central European Capital Markets

Pietrzak¹,

Fałdziński²,

Balcerzak³

et al. 2017

Economics &Amp; Sociology

Self Cite

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“…The current EU, EU law and EU strategy, aka Europe 2020, focuses on the single internal market where smart, sustainable and inclusive growth takes place [41] and where the technological potential [13,42,43] and fair competition [44] should develop and could lead to the EU world trade leadership [45], as repeatedly proposed by the European Commission [46] and skeptically observed by others [47]. This is implied by the EU primary law, especially the Treaty on EU (TEU) and the Treaty on the Functioning of EU (TFEU), as well as by the EU secondary law, represented predominantly by regulations and directives.…”

Section: Legislative Frameworkmentioning

confidence: 99%

Corporate Social Responsibility Information in Annual Reports in the EU – A Czech Case Study

Pelikánová¹

2018

Preprint

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The commitment of the EU to Corporate Social Responsibility (CSR) is projected in the EU law about annual reporting by businesses. Since EU member states further develop this framework by their own domestic laws, annual reporting with CSR information is not unified and just partially mandatory in the EU. Do all European businesses report CSR information and what public declaration to society do they provide with it? The main dual purpose of this paper is identifying the parameters of this annual reporting duty and studying the CSR information provided by the ten largest Czech companies in their annual statements for 2013-2017. Based on legislative research and the teleological interpretation, the current EU legislative framework with Czech particularities is presented and, via a case study exploring 50 annual reports, the data about the type, extent and depth of the CSR is dynamically and comparatively assessed. It appears that, at a minimum, large Czech businesses satisfy their legal duty and e-report on CSR in a similar extent, but in dramatically different quality. Employee matters and adherence to international standards are used as a public declaration to society more than the data on environmental protection, while social matters and R&D are played down.

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“…Therefore, the simplistic analytical methods cannot offer an objective identification of ineffective banks, which could enable to separate them from the effective once. Simple financial indicators cannot capture the multiple natures of inputs and outputs, thus, the multivariate nature of efficiency phenomenon [2,3]. These factors decrease the usefulness of standard financial ratios as tools for assessing the effectiveness of the group of banks.…”

Section: Introductionmentioning

confidence: 99%

Non-Parametric Approach to Measuring the Efficiency of Banking Sectors in European Union Countries

2018

APH

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The European banking sector has been in the center of interest for the last ten years. There are several reasons for this: An impact of global financial crisis on banks stability; Fundamental influence of banking sector on the effectiveness of governments' anti-crisis actions, Vulnerability of banking institutions to the crisis of the Euro currency and last, but not least, the problems of the biggest banks in Italy and Germany, which for the last decades have been considered as the most efficient. The financial crisis and its negative influence, not only on the small national banks, but also on the strongest International Institutions, has shown that the problem of measurement of efficiency of the banking sector is still a current topic, important not only from the perspective of academic research, but also form the point of view of National and International Regulators. In this context, the objective of this study is to propose a methodology for a comprehensive evaluation of operational efficiency of the banking sectors in EU countries. The pointed problem is often discussed in a nonlinear fashion. Thus, the potential methodological proposal should be based on the interaction of multiple inputs with multiple outputs, without the knowledge of the functional relationships between them. In the research, Data Envelopment Analysis, is given as a suitable instrument for this purpose. Thanks to this methodology we measured the degree of (in)efficiency of banking sectors in the EU countries. Additionally, we proposed measures to increase their efficiency. We found that there are differences between the efficiency of banking sectors of "old" fifteen and "new" EU member countries. We also confirmed that there is a noticeable difference between the efficiency of banking sectors within the European Monetary Union members and Countries which do not belong to the Euro-zone.

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Technological Potential of European Economy. Proposition of Measurement with Application of Multiple Criteria Decision Analysis

Cited by 39 publications

References 27 publications

Short-term Shocks and Long-term Relationships of Interdependencies Among Central European Capital Markets

Short-term Shocks and Long-term Relationships of Interdependencies Among Central European Capital Markets

Corporate Social Responsibility Information in Annual Reports in the EU – A Czech Case Study

Non-Parametric Approach to Measuring the Efficiency of Banking Sectors in European Union Countries

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Technological Potential of European Economy. Proposition of Measurement with Application of Multiple Criteria Decision Analysis

Cited by 39 publications

References 27 publications

Short-term Shocks and Long-term Relationships of Interdependencies Among Central European Capital Markets

Short-term Shocks and Long-term Relationships of Interdependencies Among Central European Capital Markets

Corporate Social Responsibility Information in Annual Reports in the EU &ndash; A Czech Case Study

Non-Parametric Approach to Measuring the Efficiency of Banking Sectors in European Union Countries

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Product

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Corporate Social Responsibility Information in Annual Reports in the EU – A Czech Case Study