Eastern Journal of European Studies

Author: Natalia WOJTOWICZ

Abstract: The most widely established consensus on regional resilience is that there is no consensus on definition, application and theoretical boundaries. Despite most authors expressing objections to "stretching" the concept of resilience too far to be meaningful and its applications too varying to establish a practical framework, this study offers a participatory study of the applied concept with both conclusions about the framework and results of its implementation. The design of the study took into account the substantiated claims of previous use of resilience as a patch to all community problems and adding a new name instead of a new way of addressing them. The study introduces wargaming with the policy-makers of NATO as a reflection and mapping tool to recognize the deficiencies of the framework. The results have verified the main criticism of the concept and offered recommendations on continuing the revision of the resilience framework based on practical insights from policy-makers.

Keywords: wargaming, resilience, NATO, planning, policy    

Pages: 5-26 | Full text (PDF)

Authors: Tomaz Ponce DENTINHO, Cristina SERBANICA

Abstract: The article studies the evolution of the population hierarchy of the NUTS3 regions of Romania from 1948 until 2011, to understand how this hierarchy, and related resilience and sustainability proposed indicators, changes due to the influence of historical events and related political and economic features. With the support of the instrumental Zipf's Curve - that relates regional hierarchy with their population weight - the analysis shows that there is a growing population concentration and that the capital region of Bucharest and its neighbours gain at the expense of depopulation of second rank and more remote regions. The integration in the socialist block and the recent integration in the European Union have created winners and losers, but did not decisively change the path of increasing concentration in the capital region and few other large agglomerations.

Keywords: population hierarchy, Romanian regions, Zipf's Curve, spatial justice, demographic resilience and sustainability  

Pages: 27-44 | Full text (PDF)

Authors: Laura DIACONU (MAXIM), Yilmaz BAYAR

Abstract: The consequences of globalization on economic growth and development have largely been debated both by scholars and policy makers. However, literature lacks a multidimensional analysis of the relationship between of all forms of globalization and the development of a country. Therefore, the purpose of the present paper is to investigate the impact of various globalization types on socio-economic development in eleven European Union (EU) states that faced the transition from a centralized to a market economy, during the period 1993-2016, with the help of Dumitrescu and Hurlin (2012) causality test, Beck and Katz (1995) PCSE estimator and pooled OLS regression, considering the results of pre-tests. The empirical research revealed that economic, political and cultural globalization positively influences the socio-economic development of all the analysed states. These findings may offer valuable information for the policy makers of the eleven economies which could enhance the development in a globalized era.

Keywords: globalization, socio-economic development, panel regression and causality analyses, post-transition EU economies  

Pages: 45-61 | Full text (PDF)

Authors: Ngo Thai HUNG

Abstract: This study investigates both the constant and time-varying conditional dependency between crude oil and stock markets for the CEE countries (Hungary, Poland, Czech Republic, Romania, and Croatia) by using the conditional copula-GARCH model with both constant and time-varying dependence parameters in the field of energy economics. Through different copula functions, the proposed models allow specifying the joint distribution of the crude oil and CEE stock returns with full flexibility. First, from the copula models, we find that all series show fat-tail, leverage effects, and volatilities tend to cluster. Second, in both constant and time-varying copula models, we find that conditional dependence is similar for most countries, which means that a significant conditional dependence exists in all oil-stock price pairs. Our findings have important implications for both policymakers and investors by contributing to a better understanding of oil-stock relationships. A significant interdependence between crude oil price and stock markets suggests that enterprises and governments in CEE regions should pay attention to the stock market performance when the oil price fluctuates.

Keywords: oil price, CEE, stock market, dependence, Copula model

Pages: 62-86 | Full text (PDF)

Authors: Abdelkader DERBALI, Ali LAMOUCHI


Editor's Note
 

This paper has been retracted from our journal due to bogus claims of authorship. The editors' decision is based on the evidences provided by the editorial board of the International Journal of Finance and Economics.

The Statement of Retraction, together with the full text of the retracted paper, can be accessed here.

Author: Ozgur Bayram SOYLU

Abstract: A stock flow consistent model provides a monetary and financial framework to macroeconomics. It clearly shows the sources of financing for investments and also answers the following questions: Where does the finance for investment come from? and How are budget and current account deficits financed? This paper presents a simple stock flow consistent model for the developing countries with current account deficits. Most of these countries seem to cover the current account deficit by public borrowing and private sector borrowing. For this purpose, the motivation of this paper is based on the state of these countries and the modelling of their position.

Keywords: stock flow consistent models, current account deficit, developing countries    

Pages: 123-145 | Full text (PDF)

Authors: Sanel HALILBEGOVIC, Nedim CELEBIC, Ermin CERO, Elvisa BULJUBASIC, Anida MEKIC

Abstract: The last two decades have witnessed high-profile corporate accounting scandals and multi billion-dollar frauds. Since then, forensic accounting has been in focus and has played a prominent role in discovering financial statement frauds. This research aims to analyze the applicability of the Beneish M-Score model on small and medium enterprises (SMEs) in Federation of Bosnia and Herzegovina (FBiH). Based on a sample that includes 4,580 small and medium enterprises, data will be analyzed using audited financial statements in the period from 2008 to 2015. By using independent sample t-test, correlation, and regression, it has been concluded that Beneish model is indeed applicable on the market of FBiH and aids effectively in the detection of fraud in financial statements. The study describes the comparison of different industry sectors regarding the possible manipulators and serves as a solid foundation for further research in the area of forensic accounting.

Keywords: manipulative accounting, fraudulent activities, financial crime, forensic accounting, Beneish M-score   

Pages: 146-163 | Full text (PDF)

Authors: Nikolaos SKLAVOUNOS, Konstantinos ROTSIOS, Yannis HAJIDIMITRIOU

Abstract: Nowadays, cooperation through the formation of International Strategic Alliances (ISAs) has become a key strategy for many firms that expand internationally. Trust among foreign partners and knowledge transfer are identified in the literature as crucial factors for satisfactory ISA performance. This paper extends previous research (Rotsios et al., 2018, 2019) on these two important parameters. Based on aspects from the Social Exchange Theory and the Resource Based View, we explore a) the perceived level of Greek managers' trust towards their foreign partners, and b) the perceived level of the knowledge that Greek companies have acquired from their participation in ISAs. A quantitative approach is adopted, and through a questionnaire survey, a sample of 171 Greek ISAs operating in the region of South East Europe is examined. This study contributes to International Business (IB) literature and sheds light on trust and knowledge transfer in ISAs in an under-researched region. Furthermore, this research enhances the understanding on issues related to trust among ISA partners and knowledge transfer in ISAs. In addition, it contributes to the limited number of regional IB studies. Finally, the empirical findings are discussed and managerial implications are presented, while areas for further research are also proposed. 

Keywords: International Strategic Alliance, trust, knowledge transfer, South East Europe

Pages: 164-185 | Full text (PDF)

Authors: Francisco Jose CALDERON VAZQUEZ, Vikesh CHANDNANI SUKHWANI, Pablo PODADERA RIVERA

Abstract: The present paper outlines a functionalist approach to the complex "Brexit" phenomenon, exploring those opportunities that can be derived of it for third countries, unaware of the upheaval European scenario, as could be the case of India. In pro-Brexit approaches, The Indian Union appears as one of the most important countries of the Anglosphere area, particularly significant for a future focus of the brand-new "Global UK", a relevant global partner in economic, trade & investment aspects. Due to the denominated "Intra-Industry Trade" (IIT), instrumented over the Global Value Chains (GVCs), which possibly constitutes one of the fundamental explanatory elements of the Global World, we have proposed an analysis of the UK-India relations from the IIT & GVCs perspective. Therefore, in our work, we do an analysis of the evolution, situation and perspectives of this kind of trade, especially for its three main sectors: Apparel & Footwear, Electronics and Transport Vehicles.

Keywords: Brexit, UK, India, Intra-Industry Trade, Global Value Chains   

Pages: 186-210 | Full text (PDF)

Authors: Aurelian-Petruş PLOPEANU, Daniel HOMOCIANU

Abstract: After conducting a survey among Romanian individuals left abroad, we analyze the particular influences relating to their intentions to return to their country of origin. Using Data Mining classifiers, Lasso variable selection procedures and binary logistic regressions for data collected in 2018 in several Western European countries, we have found that what matters the most for their intentions to return is the plan for starting a business in Romania in the near future. This is very useful for articulating appropriate policies. Other variables corresponding to the attachment to Romania, adaptation to the current foreign country, including the perception regarding the local discrimination, economic reasons and voting behaviour could manifest particular influences on their intentions to return. It has turned out that Romanians gone abroad to Latin countries from Western Europe, who plan to start a business at home are more likely to return to Romania than the ones gone in non-Latin countries. 

Keywords: migrants, return intentions, Data Mining classifiers, Lasso variable selection procedures, binary logistic regressions, marginal effects     

Pages: 211-235 | Full text (PDF)

Authors: Jana LOSOSOVA, Radek ZDENEK, Jaroslav SVOBODA

Abstract: The aim of this paper is to analyse the development, structure and efficiency of tangible fixed assets in the Czech farms and identify the factors that affect it. The data of farms in the period of 2003 to 2018 were used and sorted by the size of these farms. This paper evaluates the proportional development between the development of the volume of the tangible fixed assets and the volume of revenues. The development of tangible fixed assets and their structure in the reference period points to the efforts of farms to invest primarily in self-farmed land is taken into consideration. It turns out that investment activities are more affected by the overall economic situation of the farm and operating subsidies than by the possibility of drawing capital support.

Keywords: agriculture, tangible fixed assets, investments, small enterprises, middle enterprises  

Pages: 236-251 | Full text (PDF)

Authors: Zoltan GRUNHUT

Abstract: The paper puts into perspective the conceptual evolution of European Studies and one of its latest theoretically based approaches, Discursive Institutionalism. It argues that in the field of European Studies expert frameworks aiming for 'answers' are overshadowing the intellectual efforts striving for 'questions'. This tendency undermines the proper identification of problems and it also erodes the effectiveness of proposed policy solutions as these recommendations lack the appropriate conceptual foundations. The paper stresses that this negative trend of 'expertisation' is particularly relevant nowadays, when the European Union is undoubtedly struggling with challenges of social disengagement, and that research projects are required to apply approaches that can adequately reveal people's cognitive-normative understandings and ideationally driven praxes, as well as, most importantly, the generative causes behind EU-sceptical attitudes.

Keywords: European Studies, Discursive Institutionalism, constructivism, European Union, social disengagement     

Pages: 252-272 | Full text (PDF)

Authors: Maya KATENOVA, Sang HOON LEE

Abstract: Financial knowledge is assumed to help people in making good choices in their financial attitude and behaviour. Financial literacy, retirement planning and delinquency in payment were studied in different regions of Kazakhstan in both 2015 and 2019. Questionnaires were distributed among different groups of the population. Excluding invalid and unsuitable answers for the analysis, the total number of survey responses resulted was 830 for 2015 and 983 for 2019. The authors analyzed the responses to questions regarding financial attitude/behaviour such as Retirement Planning, Delinquency in payments, and the frequency of making Money Decisions.

Keywords: retirement planning, delinquency in payment, financial literacy, personal finance, Kazakhstan    

Pages: 273-292 | Full text (PDF)

Authors: Neriman HOCAOĞLU BAHADIR

Abstract: Brexit has become one of the hot topics in the last few years. In June 2016, the UK voted for leaving the EU and, since then, the process has been going on. For the first time in the EU history, a member state has started a process for leaving the EU. Many researchers focused on this topic and its possible impacts on the European Union (EU). In this study, the effect of Brexit is researched in terms of English as one of the 24 official languages of the EU. Multilingualism is an important part of the language policy of the EU and the status of English has a special importance in this policy area as being both one of the official and working languages of the EU. The aim of this study is to research how this status will change after the UK leaves the EU. 

Keywords: European Union, official language, multilingualism, Brexit, English     

Pages: 293-308 | Full text (PDF)

Authors: Alina BOTEZAT, Andreea MORARU

Abstract: In recent years a considerable amount of attention has been directed to the migration of tertiary educated people. Social scientists are interested in the brain drain phenomenon, in order to understand the positive and negative effects of highly-skilled migration in the sending countries. This paper examines physician migration in Romania, a country which records in Europe one of the largest stocks of emigrated medical doctors in the last few decades. Using data from official statistics, a survey carried out among Romanian medical doctors who have migrated, as well as innovative data from LinkedIn, we provide detailed evidence on the emigration flows and trends of Romanian physicians in terms of destinations, specialties and time frame of emigration. In addition, our study sheds light on the underlying reasons for migration and on difficulties encountered in the destination country.

Keywords: migration, physicians, Romania      

Pages: 309-334 | Full text (PDF)

Authors: Alexandra-Bianca ANDRIANU

Abstract: This exploratory research has the purpose of analyzing the main linkages between resilience and organizational culture in public institutions, presenting the main elements that can make an institution absorbent to shocks, based on the predominant type of culture and leadership style. The individual resilience was analyzed using previous research done on the aforementioned subject and narrowed down to fit Cameron and Quinn's instrument - The Organizational Culture Assessment Instrument (OCAI). The hierarchy culture has proven to be the dominant one in the actual state but as the data showed, a clan culture is more preferred due to its high interest and orientation towards people. As the literature shows, resilient cultures are those that emphasize the need of unity and belonging, hence, by reducing shocks and by offering better responses to challenges, a way to promote a bottom-up approach among policy makers can be found, increasing in this way their ability to respond to stressors.

Keywords: OCAI, resilient culture, organizational culture, stressors, cultural profile       

Pages: 335-357 | Full text (PDF)

Author: Gilles ROUET 

Pages: 358-362 | Full text (PDF)

Author: Mitchell BELFER

Pages: 363-366 | Full text (PDF)