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COMPARATIVE EFFICIENCY ANALYSIS OF THE AGRICULTURAL ENTERPRISES IN HUNGARY AND ROMANIA
41-48Views:215Performance measurement is of fundamental importance in all sectors of the national economy. However, this is especially true for agriculture because more efficient management is becoming increasingly important in this sector as well as well to supply the population with adequate food. The study examines the performance of Romanian and Hungarian agricultural companies. A total of 5,390 companies were selected for the analysis database, of which 3,789 were Romanian and 1,601 were Hungarian. In the performance analysis, the companies’ efficiency was examined between 2018 and 2020 using the Data Envelopment Analysis method. Based on the results, it can be concluded that the Romanian agricultural companies operate with statistically significantly lower efficiency than the Hungarian ones. However, it can also be concluded that the average efficiency of enterprises is very low in both countries. The performance is low, even considering the averages of the sub-sector efficiency coefficients. There is no year when the average efficiency ratio in any sector exceeds 50%. On the other hand, the sub-sector analysis of Oilseeds and Cereals shows that, especially in Romania, the proportion of companies with an efficiency coefficient below 50% is very high. Similar conclusions can be made regarding the poultry and egg production subsector. Further research is needed to reveal the reasons more precisely for the low efficiency of agricultural companies.
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Does length matter? – The impact of keyword length and search volume on seo performance in the example of a hotel
110-124Views:117The aim of this study is to examine the search engine optimization (SEO) keywords that influence the online visibility of a hotel in Debrecen, with particular attention to the structural characteristics (length), search volume, and estimated organic traffic of the keywords, as well as the relationships between them. The quantitative analysis was based on a database of 695 Hungarian keywords collected from the Semrush platform. The data were analyzed using multivariate statistical methods – correlation tests, analysis of variance, linear regression, and curve fitting. According to our results, keyword length is not significantly related to traffic or search volume. However, search volume has a weak but statistically significant positive relationship with organic traffic, meaning that more searched keywords typically generate more organic traffic. However, the low explanatory power of the regression models suggests that the variables examined alone are only very limited in their ability to predict traffic. The results have practical implications in the fields of content optimization and keyword research.
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FINANCIAL ANALYSIS OF LISTED COMPANIES OF VISEGRAD COUNTRIES AND ROMANIA
8-17Views:357In this study, listed companies of 5 countries (Hungary, Slovakia, Poland, Czech Republic, and Romania) were analyzed between 2014 and 2018. The data was downloaded from www.EMIS.com. Financial institutions and companies with too many missing data and those that were not full period listed on the stock exchange were removed from the dataset. The main aim of the research was to compare the performance of the listed companies on the stock exchanges of countries examined. First, there was analyzed performance indicators, then market indicators. Using variance analysis, there was investigated the differences between countries based on ROS, ROA, ROE ratios, which then was expanded to include some market ratios. Based on the results, it can be stated that due to the difference in the number of listed companies and the size of the companies, large variations can be observed both within and between countries. No best country can be determined because almost all of the indicators perform better in different countries during the period examined. It is important to note that earnings per unit capital are the highest in Hungary and the Czech Republic, so investors are likely to expect higher returns in these countries. During the analysis of variance, there could not be found in many ratios with significant differences between countries over the years investigated.
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Examination of sustainable consumer attitudes
14-24Views:788The topic of sustainability is known worldwide, as it tries to find a solution to a global problem. Its goal is to create and use alternatives when using inputs and outputs that cause less pollution, reducing the use of renewable and non-renewable resources provided by the Earth. The goal of sustainable development is to transform governmental, production, manufacturing, consumption, and other processes in such a way as to give the Earth a chance for long-term survival. The exponentially growing population and the ever-increasing consumption and overconsumption began to pollute our world at an even greater rate. It is enough to think about increased air smog pollution, desertification, polluted waters, or global climate change to realize how big a problem we are facing. Our primary research was based on a questionnaire survey, which tried to reveal the difference between the Hungarian and Spanish respondents about sustainable, but primarily environmentally conscious behavior. In this study, we focus only on the results of the Hungarian respondents (N=357) and present the individual consumer groups in terms of environmentally conscious behavior. Descriptive statistical analysis, principal component and cluster analysis were used for the study. From our research, it became clear that people filling in use several methods to reduce their individual pollutant emissions. In addition, it is considered the most important thing to start environmentally conscious education from an early age. Our results of the principal component analysis did not coincide with previous research results on the topic, but they showed similar patterns. In the present research, the dimensions were Eco-fit career awareness, Trend following, Selfless patriotic values, and Favorable company perception. Based on the cluster analysis, it can be said that there are not many people in the group most committed to sustainability goals, the Sustainable Conscious segment, however, unlike in recent years, there is a group strongly in favor of sustainability and domestic values, who appeared in larger numbers in our sample.
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Analysis of the socio-economic impact of the war on local governments in transcarpathia
97-112Views:220Since 2022, the Russian-Ukrainian war has been a major focus of everyday life and scientific research. From a Hungarian perspective, it has had a significant impact on the national economy. However, it is also important to monitor the socio-economic effects on the indigenous Hungarians living in Transcarpathia, which have profoundly affected their existence. The scope for analysis is wide, but the present study combines an analysis of the impact of the war with an examination of the so-called "small regions" that have been created in recent years and the population living there.
First, I will present a literature review on the socio-economic impacts of war in general. Then, using a sample of empirical research, I will analyze the situation of three small regions along the border of Transcarpathia in the period 2021-2023.
As a result of the research, it can be concluded that the differences between the local government groupings are not only influenced by their economic strength, demographic framework, and other social factors, but also by the timing of the study - whether it was conducted before the war, immediately after its outbreak, or a year and a half later. It follows that there is a measure of war exhaustion in society, both economically and psychologically, affecting hope for the future. Therefore, it would be important to have the possibility of reconstruction as soon as possible after the degrading state of war.
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SWOT analysis on management information system of University of Debrecen
55-60Views:535In 2009, an SAP-based management information system (MIS) has been implemented at University of Debrecen (UD). After the introduction of the system, in 2014, MIS Centre – the organisation responsible for operation – has been established. The MIS of UD operates functionally, however, it has wider range of uses and the opportunities offered by the system have not yet been fully exploited. In our paper, SWOT analysis was used to present the currently unused functions of MIS and based on the results, we propose suggestion for development.
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Practical experiences of business performance measurement in Hungarian e-commerce
58-75Views:168In E-commerce is gaining ground all over the world, and its role in the global economy is growing. However, it is important to note that the current inflationary environment puts e-commerce at a disadvantage compared to traditional sales. Rising prices for food and everyday goods have been reflected in consumers' shopping baskets, while e-commerce has seen increased demand for cheaper substitute products. This has reduced basket value and made it difficult to meet performance targets. As traditional stores have grown in importance, e-commerce's share of total trade has fallen from a record high of 10.4% in 2021 to 9.6% in 2022. It is forecast that, within ten years, 30% of retail sales will be made online. These changing shopping habits will present challenges for business leaders. The research aims to determine the extent to which e-commerce businesses in Hungary are influenced by performance measurement tools and systems, how these tools and systems are used, how they improve performance, and their impact on the achievement of corporate performance objectives. It is particularly important to examine which areas can be improved and which pose barriers or risks to achieving targets. In order to make key decisions, business leaders require information on the most impactful factors and those that will help them to achieve their goals. To achieve this, it is necessary to assess companies' current performance improvement and measurement practices and the results achieved, as well as identifying the interrelationships between the different factors. This research was conducted through a questionnaire survey of e-commerce businesses. Based on the responses, the factors that contribute most to effective management were investigated, highlighting the performance improvement and measurement tools on which these businesses should focus.
The questionnaire-based survey comprised a total of 24 items, organized into two main sections. The first section focused on collecting general background information, while the second section aimed to assess practices related to performance measurement and evaluation. This latter section included questions concerning performance objectives, performance-inhibiting and risk factors, the tools and methods used for performance measurement, operational, financial, and market-based performance outcomes, as well as the evaluation of measured performance.
A total of 224 valid responses were collected. During the data analysis, principal component analysis (PCA) was employed to reduce the dimensionality of the variable groups. Closely related variables were grouped into single components based on their intercorrelations. Subsequently, a dependent variable was defined, and the Backward elimination method was applied to identify those principal components that best explained the variance in the dependent variable. Cluster analysis was conducted to form distinct groups, and the financial, asset-related, and income-related indicators of the resulting clusters were examined. These clusters were later utilized in hypothesis testing. Improved profitability, increasing returns, and enhanced financial performance were observed in Cluster 2. For enterprises within this cluster, the introduction of new products, the establishment of long-term growth objectives, and the monitoring of website visits and customer complaints were considered particularly important. These findings suggest that such factors should be given special consideration by enterprises operating in online marketplaces.
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Analysis of practice of sustainability reports
43-52Views:517The responsibility of companies to reduce the negative effects of climate change is obvious. The transition from a traditional linear economy to a circular economy means an increasing burden on companies. Besides the adequate financial performance, more and more emphasis is being placed on environmental performance. This study examines the non-financial sustainability reporting practices of 20 companies listed on the Bucharest Stock Exchange. The analysis used non-financial reports of companies with the highest market capitalization between 2020 and 2022. The analysis results support that the reports of environmentally sensitive companies are more extensive and detailed concerning investigated aspects. The details and length of the companies’ ESG (Environment, Social, Governance) reports increased during the three years examined. The environmental and social aspects of disclosed documents are more detailed for the banks, the oil extraction, and the telecommunication companies. In the company sample examined, it can be observed that most of the reports are prepared according to the GRI regulation. It can also be observed that the companies examined made more detailed and longer reports. The research results also support the fact that the aspects of the ESG report (E, S, G) also depend on the sector in which the companies operate.
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Application of mathematical and statistical paradoxes in tourism
230-239Views:268The paradox is a well-founded statement / method, derived from a specific area of science and the application possibilities worth to try a different area of the farm in their respective fields. The world of chances and its mathematics is abound of paradoxes. Mathematics and statistics are separate disciplines and related sciences of many areas at the same time. Application of advanced education and research is essential. The study presents analyzing evaluation options in
the field of tourism based on two paradoxes (regression and maximum-likelihood) factor analysis and multidimensional scaling analysis. -
ECONOMIC ANALYSIS OF THE TOP 9 FITNESS SERVICE COMPANY IN DEBRECEN: -
Views:501There are 11 larger fitness clubs in Debrecen, where group training also appears as a service. These fitness centers can be identified as the leading fitness providers in the city based on this services, their area size and their machine park. We performed an economic analysis of these fitness providers based on their annual report data. Finally, the data of the balance sheets and income statements of 9 fitness service providers were collected, with the help of these statements we analyzed the wealth, financial and income situation of the examined organizations. It can be stated that the balance sheet of the examined fitness clubs is in line with their profile, ie investments in real estate and machinery dominate, which can often be realized by relying on external sources. In this context, there is a risk of indebtedness, which calls the attention of these large fitness centers in Debrecen to take the necessary steps to improve both their profitability and financial stability in the future.
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APPLICATION OF DISCRIMINANT ANALYSIS ON THE FINDINGS OF A QUESTIONNAIRE SURVEY CONDUCTED ON HEALTH TOURISM
65-69Views:319The examination of the presence of learning in leisure activities and in tourism has become popular in the past 20 years. There are a lot of publications in this area but there are differences in the type of learning, the persons studied , and the methods of the s urvey. The aim of the present study is the further processing of the database of a questionnaire tested, in the course of which we reveal the correctness of the further classification of the sample beyond the exploration of
learning applying the m ethod o f discriminant analysis. -
Strategic personal branding in the creative economy: A case study of indonesian musician repositioning through instagram
125-131Views:72This study investigates the strategic significance of personal branding within the creative economy by analyzing the digital rebranding of an Indonesian artist on Instagram. It examines the role of consistent visual identity, authenticity, and value-driven content in enhancing audience engagement and fortifying brand equity over time. The findings, derived from a qualitative descriptive method utilizing in-depth interviews and content analysis, indicate that personal branding serves both as a communication tool and a business strategy that improves visibility, revenue potential, and career sustainability. The research highlights Instagram's efficacy as a medium for musicians to convey their artistic development and social identity. This research elucidates how creative professionals utilize digital media for strategic repositioning in a competitive cultural market, providing valuable insights for academic inquiry and practical applications in digital branding.
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Company analysis and comparison of the assets and short-term financial situations of Dreher Sörgyárak Zrt. and Heineken Hungária Sörgyárak Zrt. based on annual reports
Views:469Abstract
Hungarian brewing has a long tradition, which is why this iconic drink is so popular in our contemporary society. The topic of the following article is the company analysis and comparison of the assets and short-term financial situations of Dreher Sörgyárak Zrt. and Heineken Hungária Sörgyárak Zrt. based on annual reports because with this we can get an answer to the outstanding success of these companies. I collected the data necessary for the indicators for the last 5 years, so that I could get a fresh and comprehensive picture of the companies' operations.
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Comparative analysis of the first-time application of international financial reporting standards, using the example of two companies
107-119Views:350In this article I have made a comparative analysis of the first application of International Financial Reporting Standards (IFRSs) from the perspective of two Hungarian companies engaged in financial activities, Budapest Fund Management Ltd. and Fundamenta-Lakáskassza Kft. The aim of the research is to explore the differences between the Hungarian accounting system and IFRS, with a special focus on valuation principles and methods.
The study presents IFRS 1, IAS 1 and IAS 12 and the effects of the transition to IFRS on the financial statements. Of the two companies examined, the changeover resulted in only minimal changes for Budapest Fund Management Ltd., while Fundamenta-Lakáskassza Kft. experienced more significant changes, particularly in the accounting for securities and deferred taxes. The research concludes that IFRS-compliant reporting provides more detailed and transparent information to market participants. However, the transition to IFRS can impose a significant administrative and financial burden on companies, especially smaller companies. The author suggests further convergence of the Hungarian accounting system towards IFRS, taking into account cost-benefit ratios.
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Working capital analysis of pharmaceutical companies in Central Europe
1-13Views:360The pharmaceutical industry has huge market potential and investment opportunities, while pharmaceutical players also face a number of challenges, such as regulating the production and pricing of active pharmaceutical ingredients, protecting intellectual property and competing with other players. As a key sector of the Hungarian economy, the industry generates a significant share of GDP and has grown dynamically in recent years, the aim of our study is to compare the activities of Hungarian industry players with sectoral companies in other Visegrad countries, and thus to examine the similarities and differences in the liquidity management of the pharmaceutical industries in these countries. The analysis was based on the annual accounts of regional pharmaceutical companies for the period 2018-2022, extracted from the EMIS database. The period covered included several globally significant events, and therefore our research also examined the impact of the coronavirus epidemic and the war in Ukraine on pharmaceutical companies and whether there were differences between the Central European countries. Overall, sectoral players in each of the region's countries were able to keep their indebtedness under control and, although Hungarian companies were able to manage the largest assets, by the end of the period the working capital efficiency of Polish companies was better than their regional competitors overall.
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SOME SPECIFICITIES OF THE CURRENT ASSETS OF HUNGARIAN DISTRICT HEATING SUPPLIERS BASED ON THE ANNUAL REPORTS OF 2009-2017
34-41Views:268The present study focuses on the asset-structure of the Hungarian district heating suppliers with a special interest in their current ratio and the structure of their current assets. The research is aimed toward the examination of the current ratio and the structure of the assets serving short-term obligations and toward finding the characteristics of these companies in terms of their liquidity. The study also aims to find specificities characterizing the sector of district heating supply that can later be used for other research purposes. In terms of its methodology, it is based on report analyses with the reports of 72 Hungarian companies as sample population. Data retrieved from the reports is complemented with certain technical and economic information and analyzed in the time frame of nine years (2009-2017).
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The economic importance of the furmint grape variety in Hungary
71-78Views:123The Furmint grape variety is one of the defining elements of Hungarian viticultural heritage, embodying both cultural richness and economic potential. This comprehensive, descriptive analysis explores the multiple dimensions of Furmint’s economic importance in the Hungarian wine industry. Starting from the historical roots of Furmint cultivation, the study discusses the variety’s unique characteristics and its ability to produce some of the most complex wines in the world. By analysing its viticultural background and winemaking potential, the paper highlights Furmint’s prominent role within the Hungarian wine sector. While most of the existing literature examines the variety mainly from an ampelographical or viticultural perspective, this article places Furmint in a broader economic and varietal context, points out its distinctive features and identifies gaps in previous research that this analysis aims to address and use as a basis for future studies. The article also critically examines the challenges faced by Furmint producers and identifies breakthrough opportunities linked to the use of the variety. In summary, the research not only synthesises existing knowledge on Furmint, but also offers new insights into its economic relevance in Hungary.
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The Analysis of Energy Drink Consumption Patterns among the Residents of Budapest in their Twenties
113-127Views:473In this analysis I examined the energy drink consumption patt erns of the residents of Budapest in their twenties. My goals were to get information about consumption patterns, to find out the main factors influencing choice, to learn about their knowledge about energy drinks and to determine the connections between the regularly consumed energy drink brand and its recognition by consumers with the help of a sensory test. My primary research was carried out with the help of qualitative (personal interviews) and quantitative (blind tests, questionnaire) research methods. The research findings show that the examined consumers drink energy drinks most often while awakening and partying. They drink them against tiredness and to improve concentration. Most consumers think that energy drinks are harmful; however they like and drink them.
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COMPARATIVE ANALYSIS OF THE REVENUE-GENERATING CAPACITY OF EUROPEAN INTERNATIONAL CLUB FOOTBALL
Views:290The revenue-generating capacity of spectator team sports, especially European football, has developed significantly in recent decades. Europe's top teams, more than 700 clubs from 55 countries, have managed to generate annual revenues of more than €20 billion over the last 4 years. A significant part of European club football revenues comes from the Big 5 leagues. Of the 98 teams in the English, Spanish, German, Italian and French leagues, the top 20 clubs play a dominant role in generating revenues, accounting for 40% of total European revenues. Looking at the revenue structures, the most important sources of revenue are broadcast revenues and commercial and sponsorship revenues. Total revenues for European club football increased significantly in the pre-COVID period, averaging over 7% per year, but have slowed down significantly following the impact of COVID. The Polish league has experienced a significant decline, while the Hungarian league has seen a significant improvement in the period under review between 2017-2020, both in terms of aggregate revenues and average revenues per team. In my research, I present the development and distribution of the revenues of the Big 5, Hungarian and Polish leagues for the period 2017-2020.
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Exploring fintech adoption: the role of age, education and ai openness
59-70Views:166The aim of this research was to investigate the spread of fintech innovations, particularly digital payment solutions, and the related issues of data protection. Based on the questionnaire survey, it can be concluded that younger generations are more open to innovative fintech solutions, use them more frequently, and are less concerned about potential risks and dangers. In contrast, older age groups exhibit different characteristics. The acceptance of digital solutions increases with the level of education, especially in the case of innovations such as online banking or mobile payments. However, openness to the application of artificial intelligence in finance is still in its infancy, and no significant correlation was found between educational attainment and openness to AI-based financial services. The analysis also placed strong emphasis on issues of security and trust. The results show that while age influences which payment method individuals consider the safest, education level does not have a significant effect on this perception. These findings suggest that attitudes towards innovation are influenced not only by age-related characteristics but also, in some cases, by the level of education. Overall, the research highlights a growing acceptance of digital financial solutions, particularly among young people, but it also emphasizes the ongoing importance of trust—especially from the perspective of older generations and users concerned about data protection.
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Working capital and profitability in hungarian crop farms
34-44Views:303Our study is a thematic analysis of the literature on working capital, with the aim of presenting recent research and interpretations of working capital management. In the second half of the paper, we will illustrate the assessments of capital adequacy and working capital efficiency and their results, based on our own data collection, in comparison with the findings in the literature.
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Institutional Identity and Face Analysis of Miklós Bercsényi Secondary Grammar School: a törökszentmiklósi Bercsényi Gimnázium praxisának példája
96-112Views:260An educational institution transmits not only knowledge, but also customs, morals, science, oppertunities; it teaches self-reliance and insures the country's social and economic development - thus is important to deal with this area from a different point of view than what we got used to. Each undertaking and institution can archieve their long-term aims set by corporate structure if they develop their face and identity consciously. While creating its identity and the feeling the togetherness, unity; safety and confidence take shape within the institution and with the external partners alike.
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Market Trends and Consumer Motivations for Plant-Based Milk Alternatives in the European Union and Hungary
50-58Views:173The market for plant-based milk alternatives is one of the fastest-growing segments in the functional beverage industry, driven in recent years by health-conscious lifestyles, sustainability considerations, and changing food purchasing habits. This study aims to present current consumer trends and motivations, as well as to explore the economic significance of plant-based milk alternatives in the European Union and Hungary. The research is based on secondary market data analysis and two focus group studies, which provided insights into consumer attitudes and perceptions related to advertising activities. The analysis covers revenue data from the largest markets, the diversity of consumption drivers, and the visual and messaging elements found in communication strategies. The findings may contribute to defining target group–oriented marketing communication and identifying opportunities for market development.
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The DON-Toxin Content Analysis of the Milling By-Product
271-278Views:220Thanks to the favourable impact of the vintage effect occurring in recent years the Fusarium contamination of wheat and consequently a high DON toxin concentration has often caused a problem. The DON toxin in terms of human and animal health is a serious food safety risk factor. Therefore, it is important that there be methods during the wheat milling process, which reduce the level of the toxin. We proved in our earlier examinations that with the help of a modern colour sorting machine the DON toxin content of wheat items can be significantly reduced. The question is how the mycotoxin content of the by-product produced in parallel during the process changes, which is used primarily as animal forage. The authors present an analysis of these relevant experimental data. The results show that the toxin content of the by-product exceeds the toxin content of the initial wheat item.
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Erasmus+ student flow analysis with the gravity model
Views:298This study aims to examine Erasmus student flows between the 33 Erasmus+ programme countries using a gravity model. The regression analysis quantifies the impact of the factors influencing decisions on the country choice in 2018. The results suggest that the costs embodied by geographical distance and cultural differences significantly diminish the intensity of bilateral student mobility. The research also shows that students prefer to choose a country with reputable, high-quality universities, while tourist attractions do not increase the attractiveness of the host country.