The nexus between unemployment and the shadow economy in Lithuanian regions during the COVID-19 pandemic

The COVID-19 pandemic resulted in a sudden and unprepared switch to teleworking and home office in many workplaces and job functions. The use of teleworking in Hungary was significantly below the European average until the emergence of the coronavirus, which forced many people into this situation. Curfew restrictions have led to a complete lack of separation between work and private life for some workers, with several advantages and disadvantages. This paper aims to analyse the impact of the COVID-19 pandemic on changes in trade patterns, as confirmed by a questionnaire survey. The research is based on a questionnaire about shopping habits during the home office period. The hypothesis of the authors is that the persistence of the home office, elimination of travel for work, constant online presence, fear of the virus, and the lockdown have also significantly changed shopping habits. The survey showed that a large proportion of respondents tried to reduce the amount of personal contact during the pandemic period and most of them turned to online solutions for safety reasons. About online purchases, many respondents indicated doubts as to quality and a lack of confidence in the product they were buying. However, the positive experience gained during the pandemic period is likely to influence future purchasing habits for the majority.

Section: Impact Of the Pandemic On Retailing In Hungarymentioning

confidence: 99%

Impact of teleworking on shopping habits during the COVID-19 pandemic in Hungary

Lipták¹,

Musinszki²

2022

“…Studies confirm the existence of a negative association between job insecurity and life satisfaction (De Witte et al, 2015;Stiglbauer & Batinic, 2015;Nica et al, 2016;Griep et al, 2016;De Cuyper et al, 2019, among others). These links are especially significant for more vulnerable groups on labour market, particularly, youth (Tvaronavičienė et al, 2021), those involved in informal labour relations (Remeikiene & Gaspareniene, 2021), people vulnerable to poverty due to the place of residence and educational level (Dawood et al, 2019).…”

Section: Review Of Studies and Hypotheses Developmentmentioning

confidence: 99%

Well-being costs of perceived job insecurity: Mediating role of financial satisfaction, subjective healthiness and institutional trust

Aliyev

2022

The fear of losing the current job or not finding a new job significantly affects an individual’s well-being. However, perceived job insecurity also affects an individual’s financial satisfaction, subjective healthiness, and trust in institutions - determinants of subjective well-being. This research explores the direct and indirect effects of perceived job insecurity on the life satisfaction of the full-time employed and unemployed people within a serial mediation analysis framework. Using the World Values Survey (6th wave) dataset, we estimated the effects in aggregate and disaggregated (by the income level of countries) samples. Regarding unemployed people, results display the almost equal contribution of direct and indirect channels. In contrast, the dominance of indirect impact channels is more considerable in the case of individuals employed full-time. In disaggregated samples, no significant impact is detected in low-income and upper-middle-income class members, while the effects are significant and economically meaningful for lower-middle-income and high-income countries. Non-pecuniary costs exceed pecuniary costs. The primary mediating factor is satisfaction with a household’s financial situation, especially in high-income countries. The availability of unemployment insurance benefits can partially compensate well-being costs of perceived job insecurity. Nevertheless, governments need to enhance labour market efficiency to diminish both unemployed and full-time employed individuals’ perceived job insecurity, which would improve societal welfare in the end.

“…The starting point for the discussion is the literature on corporate finance and corporate value management. However, the economic consequences of the health crisis are hitting many economic areas, such as problems connected with gold and cryptocurrencies (Shaen et al, 2020), labour supply and demand shocks (Brinca et al, 2021), unemployment and the shadow economy (Remeikiene & Gaspareniene, 2021), macroeconomic impact (McKibbin & Fernando, 2021), oil prices (Gil-Alana & Monge, 2020), supply chains (Magableh, 2021), effects on fiscal and monetary policies (Benmelech & Tzur-Ilan, 2020), business risk perception (Cepel et al, 2020), or inventory management challenges (Zimon et al, 2021). The problems discussed in these articles do not directly concern the problem we are dealing with, nevertheless, they show that the crisis has spread to many areas of operation of companies, influencing the immunity of particular industries to the pandemic shock.…”

Section: Literature Reviewmentioning

confidence: 99%

Managing company value in times of COVID-19 turbulences: Winners and losers in Central Europe

Lizińska¹,

Czapiewski²,

Kubiak³

2022

This research adds to the growing literature on impact of the COVID-19 global turmoil on corporate financial performance. Changes in company value are continuous market processes. However, the pandemic has triggered many shock changes, including unprecedented turbulences in most business mechanisms. Our research provides empirical assessment of the market process of value migration across industries in Central Europe in several dimensions. The estimates of market value added and synthetic measure of value migration show substantial differences between industries. The study provides a classification of business designs by development stages and details significant changes in operating performance in response to the health and economic turmoil. Our findings on differences in industries’ vulnerability to shock changes have important implications for managers, shareholders, lenders, and other company stakeholders.