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Political risk effects and entry mode strategies of multinational corporations (MNCS) in Nigeria
Views:856Research on the political risk and entry mode of multinational companies (MNCs) has been one of the major subjects of interest in international business terrain, and the political risk factor has constitute a major basis for explaining whether exporting, licensing, franchising, or joint venture agreement (JVA) and Foreign direct investment seems to be appropriate. As such, the study examined the effect of political risk as it affects the entry mode strategies of selected multinational corporations in Nigeria as the economy of most developing economies has been characterized as being exposed to political instability and risk. The research adopted the survey technique with inference to the expo facto method and adopted questionnaire as an instrument through content and test re-test appraisal before data were analyzed through the IBM Statistical Package for the Social Sciences. The results from the analysis indicated that franchising remains a viable option of multinationals in Nigeria and the second hypothesis indicated that licensing significantly reduces the risk exposure of multinational corporations as the licensor have lesser liability in an unstable political economy of the licensee. Based on these findings companies are recommended to adopt appropriate entry strategies in line with governmental policies and economic situation before entering foreign markets.
JEL CODES: M1, M10 -
Comparison study of the agricultural subsidy policy applied by Ecuador and Hungary in the last 10 years
Views:517Agricultural subsidies have long been a consistent concern of government policies; they influence the use of resources for pursuing different goals in this sector. In this research, we are making a comparison study of the agricultural subsidy policies of Ecuador and Hungary in the last ten years by a comparative analysis applied for empirical generalization to explain and get a better understanding of the subsidies used in the two countries. The results show an enormous advantage for Hungary compared to Ecuador regarding the agricultural subsidies. Since they are part of the Common Agricultural Policy of the European Union, Hungary's subsidies are institutionalized and planned in the long term within a series of programs financed by the EU and national funds. While in Ecuador, agricultural policies exist as a general framework, and the governing body manages the subsidies through programs and projects that do not remain over time and depend on the current political situation in the country. In the same way, the data collected reflects that although the share of the agricultural sector in Ecuador's GDP is higher than in Hungary, the subsidy amounts for this sector are 36% lower than in Hungary.JEL CODE: Q13 -
Analyse the financing structure of agricultural enterprises in 2002–2006
91-94Views:353The capital structure of agricultural enterprises notable modified since the change in Hungary’s economic system. The study discusses the capital structure of agricultural enterprises in Hungary and analyses the most significant indicators, that we can use to describe the financing situation of the firms. My empirical analysis is based on data containing 192 agricultural enterprises between 2002 and 2006. I try to assess the reasons of the changes in the structure of resources of enterprises in order to find the determinants effecting the capital structure. Furthermore, I assess the index numbers illustrating the management of the enterprises.
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Analysis of economic issues relating to the dairy sector, with emphasis on price transmission
61-70Views:353The dramatic decline in consumption after 1990 was an important problem during the analysis of the sector. Even today, consumption is still below the degree that was before the political change, and significantly lags behind the EU level.The importance of this topic is emphasized by the fact that surplus milk could be marketed through the increased domestic consumption; this would create a more stable and calculable situation for farmers. Therefore, I considered it important to reveal what factors and by what shares influence the consumption of milk and dairy products. The relationship, time series and cross-sectional analysis based on national and international databases demonstrate the relationship between the consumption of milk and dairy products and the other determining factors of consumption in Hungary and in the EU-25 through diagrams. I draw the conclusion that there is a medium correlation between the development of the economy, the higher income level and the consumption of milk and dairy products. Just before our EU accession, the dairy sector was one of the most critical industries of Hungarian agriculture, which is why I chose this for my analysis. I regard as a new scientific result the econometric analysis of the asymmetric market conditions in the price transmission approach within our dairy sector between 1995 and 2003. I confirmed and quantified that the market is under an oligopoly and defined the direction of price adjustment. Furthermore, I regard as a new result in the price transmission analysis (also published in the article published with Dr. József Tóth), that the three possible dimensions (elasticity, a symmetry relations,lag) are analysed simultaneously.Therefore,a more sophisticated picture is given on price transmission. The theoretical advantages and disadvantages are verified by an example of a vertical coordination based on the horizontal cooperation in the dairy sector (Alföldi Tej Ltd).
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Externality effects of honey production
63-67Views:581Bee-keeping and honey production has a long history in Hungary. Honey is an important and healthy food of people and it can be consumed without any human processing. The honey production has important role, too. Some researchers say that if honey bee will extinct the humanity in the world would also extinct. It is true since plant pollination by honey bees is very important. It is confirmed by researchers’ studies that plant pollination by honey bees has significant positive external impacts on potential yields in orchards. Although the contribution of honey production to the GDP in Hungary is only a few per cent, other benefits play more important role. One of them is the positive external effect – mentioned above – and the other is the contribution to the biodiversity of the nature. This paper focuses on secondary research methods, gathering and evaluating data regarding the positive external impacts of plant pollination by honey bees as well as finding possible solution for the problem that bee-keepers have a lot of costs in connection with carrying honey bees to orchards, while farmers “only” benefit from the positive externality of plant pollination of their fields. To evaluate its economic effects a numerical HEEM-model was developed and applied for the Hungarian situation.
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Economic issues of duck production: A case study from Hungary
61-67Views:429The Hungarian waterfowl sector is characterised by export orientation, as 55-57% of the revenue comes from exports, so its importance is high in the national economy. The production of slaughter animals in the duck sector has doubled in the last decade. The objective of the study is to examine production parameters, as well as the cost and profit situation of broiler duck production and to reveal the correlations between the factors with a case study through the example of a Hungarian company. The production parameters and cost data of the investigated farm (2014-2016, 96 production cycles) were analysed using descriptive statistical methods, correlation and regression analysis. The results show that the average cost of the duck produced in intensive, closed farming system was between 72.6 and 101.7 eurocent kg-1. The most significant cost items were feed (52-63%) and chicken cost (14-19%). The sales price decreased from 112.9 eurocent kg-1 to 98.4 eurocent kg-1 during the examined period, resulting in a profit from -3.3 to 25.7 eurocent kg-1, and overall profitability was decreasing. The study also revealed that there was no correlation between average cost and final bodyweight, while the correlation between average cost and reared period was weak. At the same time, the relationship between average cost and average daily weight gain, mortality, feed conversion ratio was moderate. In addition, the European Production Efficiency Factor (EPEF) can be adapted to the duck sector as strong, positive relationship can be scientifically verified between the indicator and average cost. There is a close correlation between the sold live weight per m2 and the amount of feed used per m2, as well as between the final bodyweight and the amount of feed used to rear a duck, while the correlation between average cost and the sold live weight per m2 is weak.
JEL Code: Q13, Q19
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International students in Hungarian higher education
113-132Views:706Overall, higher education in Hungary is popular with students from abroad, even if there are significant differences in terms of its structure. The ever-faster increase in the annual headcount of the international student body serves as proof to this statement. The expansion of the size of the body of international students is of special importance in higher education since in 2016 the Hungarian government set the objective of having 40,000 international students by 2023 (EMMI, 2016).
Numerous studies have been published on this topic, usually focusing on specific issues, including, for example, the countries from which we receive most of the students, the most popular majors, possible economic advantages due to the presence of a great number of international students, and how internationalization takes place in higher education in Hungary.
By means of processing data published by the Hungarian Educational Authority [Oktatási Hivatal], this paper aims to present the changes in the number of international students in Hungary over the past ten years. This also includes the discussion of the structure of these changes related to a variety of issues such as relations, types of institutions and their ownership, levels and types of programs, as well as gender proportions. However, even with this effort, the officially available statistics are suitable for presenting a properly detailed assessment of the situation only to a limited extent.
JEL code: I23
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Using DEA to evaluate efficiency of higher education
79-82Views:836The aim of the higher education reform process both in Hungary and in the European countries is establishing a competitive, qualitative higher education with efficiently operating institutions. The question of efficiency needs increased attention not only because of the decline of the state support but also the rapid raise of the student mass. In the educationsystemit’snot easy to measurethe output of the services.The situation is more complicated if an organisation or a sector has multiple inputs and outputs. In this case a possible method of determining efficiency is Data Envelopment Analysis. In my paper I’d like to introduce this method and use it to compare the efficiency of higher education systems. urthermore I am examining whether their efficiency is influenced by the extent of the contribution of the state and the private sector or socio-economic factors like GDP per capita and education level of parents.
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