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The Actual Experiences of SME Lending
70-96Views:277This paper is intended to show the quantitative research results of an actual survey conducted within 82 active SMEs in Borsod-Abaúj-Zemplén County. The sample of participants was selected by a two-step combined sampling method resulting in a nonrepresentative, but still useable data collection. The survey especially focused on identifying and ranking SME pressing factors, identifying and ranking credit prohibiting factors from the viewpoint of SMEs, identifying the actual financial preferences of SMEs with special attention to subsidized credits and non-refundable subsidies. It gives actuality to most of the aforementioned questions that currently even the Central Bank of Hungary pays attention to boost the crediting activity by its Funding for Growth Schemes (FGS).
Journal of Economic Literature (JEL) codes: G30, G32, G39
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The carrier follow-up survey of the graduate students of the Faculty of Economics and Business Administration of the University of Debrecen
105-113Views:103In the fall term of 2002/2003 a pioneer carrier follow-up survey of the graduate students of the Faculty of Economics and Business Administration of the University of Debrecen was carried out. The aim of the research is to facilitate the improvement of teaching, to increases its quality. The paper reviews the first results of the tecently launched survey.
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Exploring the awareness of platform-based, demand-driven businesses in Hungary and Romania
73-100Views:35Platform-based, demand-driven business models, known as the sharing economy, emerged in the United States in 2008. Their emergence has been made possible by digital development, and their impact can be seen in both economic and social life, in the globalised nature of cooperation models. Since 2016, the European Commission has conducted three surveys on using the sharing economy in the EU Member States. Based on the 2018 survey, this study analyses Hungary's and Romania's relationship with the sharing economy. The survey results show that awareness of the SE is increasing, especially on the consumer side. However, a decreasing trend is observed on the service side. Demographic factors (age, gender, employment status) significantly influence the willingness to provide and use services. Respondents in the two countries are not homogeneous and have different perceptions of the opportunities and threats of the sharing economy.
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Market institutions precede market beliefs: a test with cross-country regressions
3-30Views:263The paper examines the literature on culture, economic growth and institutions to derive hypotheses about the relationships between market beliefs, institutions, and productivity. It then tests these hypotheses with cross-country regressions. First, it points out that each of the four cause-and-effect hypotheses of the possible relationships have an economic literature, in that market beliefs are seen as parts of culture. Second, the paper tests these hypotheses by making use of the fact that they consider different variables as exogenous ones. Measures of market beliefs are the coefficients of the country-dummies in the regressions run with individual data from the World Values Survey. The tests support the two hypotheses which hold that it is institutions, not market beliefs, that are exogenous.
Journal of Economic Literature (JEL) codes: L26, O43, P16
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Consumer ideologies and retailer preferences in Hungarian food retailing: Vásárlói ideológiák és üzletválasztási preferenciák a hazai élelmiszer-kiskereskedelemben
35-63Views:137This study relies on the results of a representative survey (N=619) of Hungarian consumers carried out in the summer of 2011. The survey was designed to identify the affectiveand normative attitudes that might influence buyers in the formation of their food and convenience retailer preferences in the context of domestic versus international providers. A strong and significant relationship was found between what was termed buyers’ economic nationalism and a preference for domestic stores, particularly as far as shoppers with a higher than average ability to associate retailers’ origins were concerned. In contrast, no
notable relationship was found between other consumer ideologies (such as nationalism, patriotism, cosmopolitanism or ‘straightforward’ consumer ethnocentrism) and preferences for domestic stores. The factor of economic nationalism, however, was proved to interact with the cognitive formation of store preferences, considerably improving the explanatory power of regression models built on perceived store attributes as independent variables.Journal of Economic Literature (JEL) classifications: M31, Z13, M39
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Individual Values for Organizational Success
37-51Views:114Douglas McGregor published Theory Y in 1960. The main element of this theory is integration of individual and organizational objectives. Today, near 50 years later, the integration of individual and organizational goals remians only theory in several business organizations. The author of this study conducted an online survey in 2008 in order to examine company cultures, values was harmonization between organizational-level and individual-level sets of values. Two multinational companies with 324 respondents took part in the research up to this time. This publication shows the findings of the survey and illustrates the importance of harmonization between organizational-level and individual-level values. Finally, it comes up with some ideas what leaders can do in order to harmonize the value hierarchies efficiently in their organizations.
JEL classification: D21, L21, L25
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Strategic directions of international degree mobility – examining the motivation of foreign students studying in Hungary and the factors influencing foreign studies
3-38Views:358In the scope of our research, we examined the motivation of foreign students studying in Hungary. The objective of the applied questionnaire survey was to explore the possibilities both on the supply and demand side based on which young people who wish to study outside their home country identify Hungary as a potential destination country. In the first phase of the research, the statistical study of inward student mobility was performed. The image of Hungarian higher education is interesting also because, although the countries sending the most students are still in the neighboring countries (Slovakia, Romania, Serbia and Ukraine), there is a dynamic growth in terms of the number of students from Norway and Asian (China, Iran) and African (Nigeria) (Statistical database of the Office of Education). In the second phase of the research, the questionnaire survey was conducted seeking the answer to the following: what factors played a role in the decision of foreign students to study abroad (when did they decide to study abroad, where did they obtain information, what were the factors that influenced their choice of country and institution, etc.). How satisfied are they with the chosen training, with the organization education and what are their plans following the completion of the training? What prior information was available about training and subsistence expenses, what were the sources of funding, how did the costs of subsistence develop and what were the returns on these expenses, what was the proportion of leisure time and studying, and what were the options of spending leisure time? - How satisfied are they with institutional services (technical equipment, classroom facilities, library service, and institutional programs)? In the present article, we cover the factors influencing foreign studies considering the limitations of the scope.
Journal of Economic Literature (JEL) codes: I2, J1
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New tendencies in urban development – The possibilities provided by walkable cities
23-42Views:296Nowadays, the so-called disadvantages of urbanization – the noise, air pollution, overcrowding – receive more and more focus in cities. Vehicles require increasing space to themselves in cities which decrease the quality of living space people need, which is harmful from the point of view of the society and the economy, as well. Sustainable urban mobility can be a solution, which has two elements: the well-known environmentally friendly public transportation and the less known walkability. The latter comes to the front in the course of the preparation of sustainable city development strategies, nevertheless walkability measurements have been taken principally in USA’s and Western-Europe’s big cities. In our paper we search for the answer of the question, how the concept of walkability is interpretable in middle-sized European cities and what kind of city development potentials do all these have. In the course of our research
primary surveys were conducted in Szeged and Valencia to investigate walkability and its improvement opportunities. Our survey verified that the concept of walkability could be a useful city development tool even in middle-sized cities.Journal of Economic Literature (JEL) code: R42
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HR Funtion Under Changes at Subsidiaries of Foreign Multinational Firms in Light of an Empirical Study in Hungary
98-116Views:437Following almost two decades of multinational companies (MNCs) operating in the transitional economies of Central and Eastern Europe (CEE) expatriate and local managers continue to ask the following question: “How can we effectively manage the available human resources from our subsidiaries or assignees from the corporate centre?” A model of human resource (HR) practices in the subsidiary units of MNC’s in Hungary was developed from a review of the literature, extensive professional experience in the region and an interview-based survey at 42 subsidiaries of large multinational companies. This model describes the evolution of different HR variables in the light of external (macro) and internal (firm specific) factors.
Journal of Economic Literature (JEL) classification: M16, M51, M52 és M54
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Political Economy of Fiscal Reform in Central and Eastern Europe
66-75Views:90The reform of public finances has been at the centre of the post-socialist transition of Central and Eastern Europe since the early 1990s. At various stages of the transition, the reform process encompassed the entire gamut of public finances: the national budget, sub-national finances, extrabudgetary operations, and state-owned financial and non-financial enterprises. For the most part, fiscal reform was a non-linear stop-and-go process – often characterised by backtracking as well – and was uneven across countries. Moreover, unlike most reform experience in the rest of the world, fiscal reform in this region took place against the backdrop of a radical break, as sovereign countries emerged from a colonial past following the collapse of the Soviet Union. An important milestone was reached in 2004–2007, when all ten countries covered in this article became members of the European Union. The purpose of this article is to discuss fiscal reform in Central and Eastern Europe from the perspective of political economy. Following an overview of basic reform trends, the article focuses on the principal drivers and impediments to reform in the region. To conclude, the ingredients of successful reform are examined. The article does not provide an exhaustive inventory of reform measures, nor does it offer a survey of broad political economy issues prior to or during the transition period. Country references are intended to serve as stylised illustrations of main points, rather than as a comprehensive documentation of reform episodes.
Journal of Economic Literature (JEL) classifications: H1, H3, P2, P52.
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The examination of the relationship between foreign working capital investment and economic growth on the basis of European examples
150-166Views:109In the past decade several studies have been published in Hungary as well on the role of foreign working capital investment and the economic effects of the presence of multinational companies. This paper explores what role working capital investments (their type, size etc.) have played in the transformation and modernization of Hungary and in her integration into world trade. After a short theoretical and historical survey it presents the experience of some European countries which the literature often mentions by comparing them to Hungary, for on the basis of their size, population, geographical location and level of economic development they have often met similar economic policy dilemmas and choice-making. Then it examines what effects foreign working capital influx had on the given economies and - ina wider sense - on their social development, and in addition, what kinds of undesirable consequences it had.
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University Ranking Lists and Mirror Images - as Prospective Students Make Their Choice
78-91Views:124The paper is based on a survey carried out by the authors, which aimed, on the one hand, at specifying the extent to which would-be students know the rankings of universities and take them into consideration when choosing university faculties, and, on the other hand, at revealing the role played by other factors in their decisions. The majority of would-be students know the rankings of universities but these have not became an important factor in the decision processes. To have good lecturers and professors, to acquire useful knowledge, and to obtain a job with their degree are considered by would-be students as crucial factors. They try to get information from several sources and the Internet has become the most important one, which they use routinely and with skill. On the other hand, it can be proved that they would like to rely on more customized information sources as well.
JEL classification: Z13
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Is the strategic thinking characteristic of SMEs in the North Hungarian Region? – experiences of a survey
88-100Views:139Regional differences can be observed in the economic importance of small and medium sized enterprises. The research covers the small and medium enterprises within the North Hungarian Region, based on a questionnaire carried out in the autumn of 2011. We examine the existence of a conscious strategic vision of the future and their innovative capability. The low economic activity, the low proportion of industrial enterprises, which is below the national average, and low professional skills are typical of the region. Those managers who have a conscious strategy reported above average profitability. We revealed a correlation between the depth of strategy knowledge and the existence of a formalized strategy, paying attention to the role of education and skills. The knowledge and the acceptance of innovational cooperation opportunities (innovational nets) are at a low-level in the region. Besides strategic thinking, one key element for strengthening the sector is continuous renewal, innovation, observing best practice, and imitating it.
Journal of Economic Literature (JEL) classifications: D220
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A reklámberuházások versenyre gyakorolt hatásának és gazdasági növekedéssel való összefüggéseinek vizsgálata
Views:120The amount of advertising investments is increasing dynamically worldwide, but returns are decreasing significantly. This is largely the consequence of growing market competition. In connection with this I analyze the role of advertising and the effect of advertising on demand and competition, then I study the relation between advertising and economic growth in this paper. I have conducted a survey among European countries to scrutinize the relation between advertising expenditures. My other assumption had to be rejected as a positive relation does not exist between GDP per capita and advertising investment rate.
Journal of Economic Literature (JEL) classification: D21, E01, M21, M37
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Price transmission on the Hungarian pork meat market in the presence of structural breaks
24-36Views:103The study of marketing margins and price transmission on various commodity markets has been a popular research topic of the past decades (see MEYER, VON CRAMON-TAUBADEL, 2004, for a present survey). However with a few exceptions these studies focused on developed economies. This paper examines the above phenomena on the Hungarian pork market. The Johansen (maximum likelihood, 1988) or Engle and Granger (two step, 1987) cointegration tests do not reject the no-cointegration null hypothesis between the Hungarian pork producer and retail price series. Therefore, we applied the Gregory and Hansen (1996) procedure with recursively estimated breakpoints and ADF statistics, and found that the prices are cointegrated with a structural break occurring in April 1996. Exogeneity tests reveal the causality running from producer to retail prices both in the long and short run. Homogeneity tests are rejected, suggesting mark-up pricing strategy. Price transmission modelling suggests that price transmission on the Hungarian pork meat market is symmetric in the long, but asymmetric in the short-run, i.e. processors, wholesalers or retailers might take temporary advantage, should price changes occur.
Journal of Econmic Literature (JEL) classification: Q13, D12, D4